111–120 of 346 posts
"Available to US accredited investors." It seems a little ironic that any Joe Blow with a credit card can buy cryptocurrency, at presumably higher risk since he's managing the assets himself, but he can't invest in this fund.
For anyone wondering why this is better than just buying the coins yourself, here are some reasons: 1. Non-technical investors don't know which coins to buy. There are some genuinely good coins, and lots of scams, and they look pretty much identical to the untrained eye. 2. Non-technical investors don't know how to store coins safely. Words like "cold wallet" and "Trezor" don't mean anything to them. Even if they wan…
> There was a guy a while ago who bought a hardware wallet on ebay and lost all his coins. Was this because he sent his coins to a paper wallet that the seller generated for him? I would be impressed if someone had actually managed to produce a fake trezor, but even then, it's pretty straightforward not to buy them on ebay.
My point is, many investors are worried that they'll make a mistake, lose all their money, and then people will just shrug and call them stupid when their story hits HN the following day. With this Coinbase fund, there is no such risk.
Earlier quoted context omitted.
This is a somewhat debated topic in cryptocurrency. IMO what you said is not the case. If gold and silver aren't treated "like kind", and facebook and google stocks aren't treated "like kind", why would bitcoin and ethereum be treated like kind? I'm not a tax professional, but I did consult with one, and they confirmed my hunch.
> If gold and silver aren't treated "like kind", and facebook and google stocks aren't treated "like kind", why would bitcoin and ethereum be treated like kind? For the same reason that, say, transferring your wealth from an Irish bank account to a German bank account doesn’t trigger a capital-gains event in the US? I.e., those other things you listed exist “within” the US financial system. Cryptocurrencies exist out…
No, they don't. They're no more "outside it" than gold or silver are.
This is a great move by Coinbase to make "owning more crypto" easier for the average (accredited) investor. But 4 coins != the market. Like others, we've tried to maintain our own index of top cryptocurrencies, and experienced all the same repetitive issues of calculating asset shares, etc. So we created a tool to help ourselves, and hopefully others: https://thecoindexer.com . It takes an input portfolio (on CoinFYI…
2% fee is pretty high for an index fund.
"Index fund" has a meaning if the economy itself the fund is built on top of is stable. For example, stock market index fund makes sense because stocks are built on top of capitalism, which has proven to work for a long time. Nobody would buy a index fund from a communist country, because time has proven communism is not profitable. I think people are missing the point if they're investing in crypto index funds, beca…
That is not what index funds are for, or aren't for, at all.
Parts of bond index funds I own are invested in "communist" countries and I'm glad to have the diversification.
I'd avoid this. Coinbase knows the time and price of potential crypto entrants, and this fact can be manipulated to make the fund the bag-holder for shitcoin pump-and-dumps. Like, a fundamental thing about market-cap weighted index funds is that they buy a fixed percentage of a security in the index, regardless of price. If the fund has 1/100k of the market cap of all the coins listed on Coinbase, you can buy 1/100k…
https://www.google.com/url?sa=t&source=web&rct=j&url=https:/...
The fees and accredited investor requirement will keep me with what I've got, though :/
For anyone wondering why this is better than just buying the coins yourself, here are some reasons: 1. Non-technical investors don't know which coins to buy. There are some genuinely good coins, and lots of scams, and they look pretty much identical to the untrained eye. 2. Non-technical investors don't know how to store coins safely. Words like "cold wallet" and "Trezor" don't mean anything to them. Even if they wan…
[1]: Or more likely loss.