S&P Dow Jones Indices to launch cryptocurrency indexes in 2021

Post by misnamed » Thu, Dec 03, 2020, 9:50 PM UTC

andrewmcwatters wrote: post #276

I’m enjoying sitting on the sidelines and watching people “invest” in a digital “currency” that you cannot spend, does not produce cash flow, and whose values are determined by other shmucks buying it from previous shmucks. What a time to be alive. No wonder the S&P 500 CAPE ratio is beyond the 1929 high. No one has any idea of what the intrinsic value is of anything. Investing in companies that don’t make a profit,…

Post by mantap » Thu, Dec 03, 2020, 9:51 PM UTC

colejohnson66 wrote: post #351

andrewmcwatters wrote: post #338

Earlier quoted context omitted.

If I buy a company, I literally can choose what to do with its earnings. That’s the point of valuing businesses. You’re not buying the stock. You’re buying a portion of the business. Say you have a drywall company in town. You and the owner are good friends and the owner wants to retire but doesn’t have a family member who is interested in the enterprise. He seeks out buyers. You mention to him you’re interested but…

Sure, voting is something different. I didn’t say they were the same. I said they were similar. Also, I know plenty of people who purchase stocks simply to make money: I don’t know anyone who does to vote.

Post by notreallytrue » Thu, Dec 03, 2020, 9:52 PM UTC

clarky07 wrote: post #146

unclesams-uncle wrote: post #82

Earlier quoted context omitted.

> In my opinion the value is in the network and the ability to move money instantly (or at very least faster than traditional methods), securely, to anywhere in the world for a fraction of a cent. That ability alone is valuable and hasn't existed until now. I spent some time working in a relatively-unknown but high volume clearing bank. Banks can and do move billions instantly, and have done so for years through SWIF…

so why does it still take me 3+ business days to move money between banks? I assume it's just because they use that float to make money, but it still sucks. i for one like transactions clearing in a few seconds rather than a few days.

Post by pmiller2 » Thu, Dec 03, 2020, 9:56 PM UTC

modeless wrote: post #296

pmiller2 wrote: post #24

Earlier quoted context omitted.

That raises a good question: so, there are crypto indices now. How do you buy the index? In other words, who is going to securitize cryptocurrencies? Until there's a way for someone to login to a brokerage account and buy, say, ticker symbol CRYPT, I don't see where having an index maintained by a company is all that useful.

There have been many attempts to create ETFs for Bitcoin, most famously https://coin-etf.com/ . They've all been denied by the SEC so far. But an index like this is likely a step toward SEC acceptance.

Post by andrewmcwatters » Thu, Dec 03, 2020, 9:59 PM UTC

vmception wrote: post #355

andrewmcwatters wrote: post #352

Earlier quoted context omitted.

You’re seeking some deeper meaning here than one that exists. It’s supposed to be a currency. And yet it’s not. It doesn’t exhibit any of the traits of a currency I’d want to spend at least. Maybe you’re OK with that, so have fun. It’s fundamental existence doesn’t work for me.

> It’s supposed to be a currency. And yet it’s not. It doesn’t exhibit any of the traits of a currency I’d want to spend at least. ah that argument, I read that recently, those are skeumorphs, here is a quote > When it comes to this asset class, there are still people that argue against the concept of Bitcoin, mostly in reaction to one of its sales pitches without ever noticing what this really is. For example, peopl…