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GBTC vs DeFi circa Feb 15, 2021

Discussion in 'The Kruse Longevity Center' started by Jack Kruse, Feb 15, 2021.

  1. Jack Kruse

    Jack Kruse Administrator

    DeFi is exploding. It will have growing pains but protocols that continue to capture cash and remain sticky for that cash will reap rewards in coin prices. This represents more money that most money centers banks move.

    [​IMG]

    Just how much money is Uniswap really moving?

    Grayscale has 30 Billion AUM and everyone thinks they are doing great. Uniswap is three times that volume in way less time. That tells you about the power in the DeFi monetary network. Remember Grayscale is fiat-based and centralized.


    Why the FED MOVES OF 2021 are killers for fiat?

    Billionaires can escape taxes, but they can't escape inflation. That's why Mr. Saylor and Elon Musk needed Bitcoin in their treasury.
    I believe everyone needs it because of the 20% depreciation that is happening to our money now.
    Here is a great take on the dangers of using history as our guide:
    Hindsight, the ability to explain the past, gives us the illusion that the world is understandable. It gives us the illusion that the world makes sense, even when it doesn’t make sense. That’s a big deal in producing mistakes in many fields.
    Here’s a useful analogy: Essentially the Fed is driving the car, which is the economy, only using the rearview mirror which is foggy, and the front windshield is opaque (you can’t see the future). How could the Fed possibly drive the car with any accuracy? What if we just let the car self adjust to the conditions of the road?
    History cannot be interpreted without the aid of imagination and intuition. The sheer quantity of evidence of how money-printing/debasement hurt the taxpayer is so overwhelming that selection is inevitable.
    This will drive the decentralization movement in all areas of our society soon. Decentralized medicine is my specialty. Money printing causes medical problems because health and wealth are linked. When we get to Biden and Harris's real plan of UBI, you will need BTC in a big way. Here is another warning for my non-member friends. It is time for many of you to join my tribe to stay out in front of the coming tsunami. https://www.coindesk.com/grayscale-bitcoin-trust-explained
     
  2. Jack Kruse

    Jack Kruse Administrator

    Osprey Bitcoin Trust (OBTC), a challenger to Grayscale Bitcoin Trust (GBTC), has begun trading on the over-the-counter (OTC) market. OBTC boasts a lower 0.49% management fee compared to GBTC's 2% annual fee, but the product levies additional charges, including custody and legal fees.

    https://finance.yahoo.com/quote/OBTC/
     
    John Schumacher and JanSz like this.
  3. Jack Kruse

    Jack Kruse Administrator

  4. Jack Kruse

    Jack Kruse Administrator

    Some of the ETH 2.0 smart contracts operating at a significant scale, automating away parts of traditional finance such as automated market makers. Aave is one. Are there risks? Yes. The stable coin they use in these operations is UST. UST is under attack from the SEC now. DeFi and ETHER are linked to what happens with Tether. If Tether goes down, DeFi collapses, and ETHER will be a Hindenberg. DeFI has 10 B of UST locked as collateral right now in 2/2021
     
  5. JanSz

    JanSz Gold

    If Tether goes down, DeFi collapses, and ETHER will be a Hindenberg.
    -----------------------------------------------------------------------------------------
    How would that affect BTC?

    ....
     
  6. Jack Kruse

    Jack Kruse Administrator

    UST only is tied to 25B of BTC foundation. BTC is now close to a Trillion dollars......so UST is a non issue for BTC. For ETH it is a big deal.
     
  7. Do we have an idea when BlockFi Trust fund may come available on the exchange - days, months, ... ?

    https://www.nasdaq.com/articles/blockfis-bitcoin-trust-takes-aim-at-gbtc-2021-02-09
     
  8. Jack Kruse

    Jack Kruse Administrator

  9. caroline

    caroline Moderator

    Zac Prince is really easy to listen to, and makes it all very clear.
     
  10. JanSz

    JanSz Gold

    How often are you losing car keys or misplacing them in a way that you can't get them for few days?

    ....
     
    John Schumacher likes this.
  11. caroline

    caroline Moderator

    Tony does this all the time....not for a few days tho - just can't find his keys when he needs them. I have helped him to be more focused on one thing at a time so he has a place where his keys go and then I holler at him if they aren't there when he needs them!
    Then there was the time we both forgot where we actually put the car keys and we had to get a new set - $250.00. Good lessons aren't cheap!
     

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