Comments
Transcript
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MJHi Raoul, Do you see GBTC or QBTC.TO being able to (relatively) keep up with BTC on an explosive upside move? Any money I could throw at this trade right now is in registered accounts. If I were to use these BTC proxies, should I be at all concerned about them breaking correlation? I don't think I'd whine (too much) if BTC went up 10x and these funds only went up 9.5x, but wonder if these funds could get broken in sharp moves in either direction. Thanks and hoping to get on the life raft :-) {Sorry, reposting as originally posted as a reply by mistake}
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DdRaoul, What do you think of GBTC? In you opinion, does it accurately track the price moves in BTC, such that it provides acceptable indirect exposure to BTC? Same question for ETHE? Thank you!
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ERthanks you
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NIIf I have this wrong, I apologize. Please correct me. Presumably your thesis is that bonds are essentially return free risk and institutions looking for alpha will buy bitcoin since bonds are dead money. Of course, Guggenheim Macro comes to mind. Ok, I can see that. Bonds are essentially dead at zero yield (notwithstanding a bet on negative rates). So let's assume institutions are seeking a bond alternative. With few exceptions, institutions haven't piled into gold. Why would they pile into bitcoin? Gold is safer. Gold is easier to justify to the investment committee. What's driving an institutional rush into bitcoin (against a backdrop where gold has been left for dead)? If anyone thinks I'm anti-bitcoin. I'm not. I own some bitcoin and a shit ton of gold, but I'm sorry I don't see the logic here.
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AAIf I have both AUD and THB sitting on the sidelines to DCA into BTC over the next 6 weeks which one would you hold onto (as a rainy day currency) and which one would you throw into the BTC? I'm on the fence deciding between a country of Rice and Protests and a country of Coal and Lockdowns :S
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DvThanks Raoul. But don't you think Pro members should get your updates first before you put them on Twitter?
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OTif you have an audience of people who are paying a lot of money for pro membership to hear your thoughts, why not announce to us first your decision to sell all gold and buy bitcoin instead of going to the free twitter service first?
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AIWell played with the tight framing and haphazard looking setup.
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OARegarding Bond calls, what might change your mind Raoul and therefore the narrative? and what events you think that’ll trigger your thesis?
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RSThanks for the update Raoul! Lets enjoy the ride 🚀
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NCThanks for the update Raoul, curious what % of your BTC do you hold on BlockFi?
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DMAppreciate the brief update.
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dgHi Raoul, Do you do any of your own modeling on BTC price? Do you have a $$ estimate on the "wall of money" by end of 2021? How much does the market cap go up for every $1 invested into BTC ?
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JSRaoul got me into BTC in 2014. Life changing...
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RCHi Raoul, I put a house on sale back in April and sold it in July to buy bitcoin. I have been waiting to buy hoping to fetch a good price during the 2nd virus wave but as we have seen the BTC price has doubled instead. My idea has been to wait for a good dip during December-January as the economic situation inevitable worsens, but your flash update changes everything. I may be buying 100,000 euros now then, just in case, and keep buying slowly after it. Another question, is it Gemini a good way to purchase it? I am from Spain.
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MLThanks for this. Do you have any thoughts or plans on how you're going to allocate savings from your income over the next 2-3 years of holding this position? Is it more crypto or something else?
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PWIs this the GS report referenced https://www.goldmansachs.com/insights/pages/gs-research/macro-outlook-2021/report.pdf, or has the 07-Nov forecast been further downgraded?
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MDRaoul, can't thank you enough for bringing us on the life raft. Over what period of time are you thinking to dollar cost average in the rest of your ex-gold position?
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MBAgreed, gold needs a good pyuke. Too many people been asking lately about buying gold - they should have done it 50% ago, not now.
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JMwhat does "more papers from ECB" mean?
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WJBrave move- fully agree that one cannot use leverage on Crypto. You faith in DeFI (such as BlockFi) vs. Cold storage (your keys in your hands). 4 - 8% return over and above captain gain is very tempting...
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RMThanks Raoul. Quick question, what sort of level are you looking at add to your Bitcoin position? Price has just recovered swiftly from a 16% sell off - are you expecting lower lows than we saw last week? Thanks
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acThis is exciting I might follow you and sell my gold to increse my Bitcoin position. Although a small portion of it I may hold in cash and put into miners when I feel Gold has finished its corection. Some of this is for Tax reasons as I live in the UK and cannot place bitcoin into any taxiefficient vehicle like an ISA. Thank you for the update :-)
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MJThanks Raoul. My portfolio and my family thanks you for your guidance.
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DSRaoul, thanks for the astounding level of transparency, and the level-headed approach to this space. I've been in Bitcoin and Ethereum since early 2017, and you've added an incredible level of insight. I am sure the nonstop noise on Twitter is a grind, but keep up the great work and know you have a large following who is deeply appreciative of your perspective..
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AHWhat’s the best piece of research to get up to speed in Ethereum? Bitcoin is well covered , not so ETH
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JLWhat time period are you going to average in over? Is your plan to avg in every day with smaller amounts and add bigger if it corrects a double-digit %? Thanks so much!
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MSHI Raoul, I'm interested to know about your philosophy of using leverage in this case or lack there of. If someone was on top of their position, watching carefully and did not leverage too much, under 100%, can you expand on why this is a bad idea?.
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NLAwesome Raoul, My P&L since late September thanks you, all from BTC. The trolls on Twitter are nuts ... }:o) nikoiceman
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JWTo me this is a natural progression of your views and I commend you for the decision. You have done a lot to drive and shape the narrative of Bitcoin. I cannot speak for others but to me your views have added a very valuable element fo the narrative and your opinion together with the other voices, also on the RV platform, further strengthened my own confidence to invest .
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lyRaoul's rationale about Bitcoin is playing out nicely! Thank you for making clearing about your view on gold and its miners!