Oddbean new post about login | logout I'd rather hold stocks in a legacy retirement account than Bitcoin ETFs When one of these ETFs gets hacked or rugged or Coinbase fucks something up, there will be no bailouts for them. Whereas if the banks fucks up my stonks they can just edit the spreadsheet to fix it. Plus it just feels icky
good real company shares will always value even during hyperinflation EQUITY is REAL ASSET doesnot matter how measured or distributed - if someone need to keep in broker ***Bitcoin can be seized*** from custodian wallet like CB just with new law - they will not allow direct redeem by retailer.
I’m riding FBTC in part of my Roth. Can confirm it feels icky/dirty. Suspect I’ll feel better when I transfer the funds over to Unchained/similar. 😆
+1 For Unchained!
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You’d rather hold a high fee mutual fund that’s not beating the S&P than holding a bitcoin ETF?
No I'd rather hold stocks, they don't have to come in a shitty mutual fund. Just buy Amazon for example Put it this way: do you trust banks, blackrock and government to not rug the coins in the ETF / make it illegal between now and your retirement? They rugged gold before but never stocks. I think those chances are too high they fuck with the BTC
So along this line, do you not trust any company holding bitcoin? For instance, if Amazon were to pull a Microstrategy and own a significant amount, would you not want to own that stock then? In this way, this is sort of a case for diversification away from bitcoin. To be clear, these are hypotheticals and we all agree holding your own corn is the best if possible.
Yep definitely wouldn't want to own it in that case. If their whole strategy is just stack BTC at a custodian, I think that's actually a bad and risky strategy
Meh. Fidelity has been in the bitcoin game for a long time. They are the custody provider for their ETF clients. They seem to be active in the industry and putting out good people into the ecosystem. For those where the real thing is a bridge too far, I’m recommending they start their journey with FBTC. Obviously there are risks but for so many people out there getting started is the hardest part.
Not relying on Coinbase as a custodian is a big advantage from an institutional standpoint. Not your keys, not your coins on a corporate level.
They hard fork and legitimately bitcoin is now etfs only. Non fork is criminals coin
Imagine what it would look like if a hacked ETF *did* get a bailout... 👀
It would look like eth classic
Fidelity self custodies. But I hear ya .... I seriously debating just selling all that FBTC in various IRAs and shooting it over to my Swan IRA.