Menu

Cryptocurrency.

Home General Investing Cryptocurrency.

  • Avatar allb0003 
    Participant
    Status: Physician
    Posts: 13
    Joined: 02/06/2019

    Colleagues,

     

    Is there any interest, among physicians, in the world of cryptocurrency such as bitcoin, ethereum?  I have been reading about bitcoin and related cryptocurrency for around 6 months.  I think the technology offers a lot of promise and could solve some of the problems related to access to healthcare.  Truly just want to gauge interest.  I essentially follow the advice of WCI and boglehead recommendations for investing, but perhaps this “Internet Currency” can represent a small portion of one’s portfolio.

     

    Disclosure: I do own a small amount of bitcoin.

    [Self promotional first forum post edited to remove promotional portion.]

    #188537 Reply
    Avatar Peds 
    Participant
    Status: Physician
    Posts: 3997
    Joined: 01/08/2016
    Is there any interest, among physicians

    Click to expand…

    probably. lots of gullible people out there.

    for around 6 months

    Click to expand…

    a real expert then.

    I think the technology offers a lot of promise

    Click to expand…

    that block-chain….really changing the world.

    solve some of the problems related to access to healthcare

    Click to expand…

    ……..youll have to really expand on that.

    perhaps this “Internet Currency” can represent a small portion of one’s portfolio

    Click to expand…

    you can do whatever you like.

    if you didnt buy it at 20K, its an absolute steal at 3K now. what are you waiting for?

    I can be followed on twitter

    Click to expand…

    i will definitely not look at that.

     

    thanks for shilling!

    #188548 Reply
    Avatar allb0003 
    Participant
    Status: Physician
    Posts: 13
    Joined: 02/06/2019

    There is no reason to be so dismissive, condescending, and disrespectful.

    #188567 Reply
    ENT Doc ENT Doc 
    Participant
    Status: Physician
    Posts: 3355
    Joined: 01/14/2017
    I think the technology offers a lot of promise and could solve some of the problems related to access to healthcare.

    Click to expand…

    Can you be specific?

    #188574 Reply
    Liked by Tangler, Zaphod, Peds
    Avatar Kamban 
    Participant
    Status: Physician
    Posts: 2357
    Joined: 08/01/2016
    I have been reading about bitcoin and related cryptocurrency for around 6 months. I think the technology offers a lot of promise and could solve some of the problems related to access to healthcare. Truly just want to gauge interest.

    Click to expand…

    Bitcoin and other crypto are too volatile for me. No one knows which will be the standard in the future. If the currency changes it value by the thousands within the hour it cannot be used as a currency for day to day use but more like a volatile stock. I think the underlying block chain technology might be of value, not the cryto itself.

    Maybe if it part of total stock index I will own it, but not as a single stock or cryptocurrency fund.

    #188576 Reply
    Liked by Tangler
    Avatar G 
    Participant
    Status: Physician, Small Business Owner
    Posts: 1663
    Joined: 01/08/2016

    There is no reason to be so dismissive, condescending, and disrespectful.

    Click to expand…

    Expect some shade if your very first post links to your twitter feed.

    Cryptocurrency pops up, now and then.  For exampleOr. Or.

     

     

     

    #188577 Reply
    Avatar allb0003 
    Participant
    Status: Physician
    Posts: 13
    Joined: 02/06/2019
    I think the technology offers a lot of promise and could solve some of the problems related to access to healthcare. 

    Click to expand…

    Can you be specific?

    Click to expand…

    In 2017 the US spent 3.5 trillion dollars on “healthcare” representing 18% of GDP.  This is approximately 10,700 dollars/person.  We are 22 trillion dollars in debt, therefore, I do not think this can continue for much longer.

     

    Blockchain technology presents an opportunity to replace insurance companies as the “middle man.”  The difference is, the blockchain does not need to generate the same profit margins as private insurers.

     

    I can go into more detail with DM if you are interested.

     

     

    #188584 Reply
    Avatar allb0003 
    Participant
    Status: Physician
    Posts: 13
    Joined: 02/06/2019
    I have been reading about bitcoin and related cryptocurrency for around 6 months. I think the technology offers a lot of promise and could solve some of the problems related to access to healthcare. Truly just want to gauge interest. 

    Click to expand…

    Bitcoin and other crypto are too volatile for me. No one knows which will be the standard in the future. If the currency changes it value by the thousands within the hour it cannot be used as a currency for day to day use but more like a volatile stock. I think the underlying block chain technology might be of value, not the cryto itself.

    Maybe if it part of total stock index I will own it, but not as a single stock or cryptocurrency fund.

    Click to expand…

    Thank you for your reply.  I agree bitcoin and other cryptocurrencies are volatile.  As you said, the block chain technology is here to stay.

     

    Regarding your last comment about consideration of investing in crypto if becomes part of a stock index or a “fund of crypto” – this would be unwise IMO.  I primarily invest in index funds, but crypto works in such a way that allowing a 3rd party to be the custodian of your bitcoin or other crypto is typically discouraged.

    #188585 Reply
    ENT Doc ENT Doc 
    Participant
    Status: Physician
    Posts: 3355
    Joined: 01/14/2017
    Blockchain technology presents an opportunity to replace insurance companies as the “middle man.”

    Click to expand…

    How?

    #188586 Reply
    Liked by Tangler, Craigy, Peds
    Avatar allb0003 
    Participant
    Status: Physician
    Posts: 13
    Joined: 02/06/2019
    medical school scholarship sponsor

    There is no reason to be so dismissive, condescending, and disrespectful.

    Click to expand…

    Expect some shade if your very first post links to your twitter feed.

    Cryptocurrency pops up, now and then.  For exampleOr. Or.

     

     

     

    Click to expand…

    It was an honest attempt to attract “followers” who are physicians and also interested in finance and possibly cryptocurrency.  There are so few people in my community to talk to about these issues. So a few weeks ago, I started using my twitter account to establish lines of communication with people with similar interests.  I understand, however, why this could upset some people on the forum.

    #188588 Reply
    CordMcNally CordMcNally 
    Participant
    Status: Physician
    Posts: 2510
    Joined: 01/03/2017

    I, too, am more interested on the “how” you think block chain is going to replace insurance companies as the “middle man”.

     

    I’m less interested in someone posting to attract Twitter followers.

    “But investing isn’t about beating others at their game. It’s about controlling yourself at your own game.”
    ― Benjamin Graham, The Intelligent Investor

    #188589 Reply
    Zaphod Zaphod 
    Participant
    Status: Physician, Small Business Owner
    Posts: 5943
    Joined: 01/12/2016

    Nothing would have made me happier than if they somehow got crypto onto real markets last year outside of just futures. It would be a dream to trade them. Lots of air was taken out of the market with futures and the availability of two sided trading. However, as they say you can always lose 100% more!

    Whats wrong with twitter? Its pretty much my favorite.

    #188598 Reply
    Avatar Panscan 
    Participant
    Status: Resident
    Posts: 906
    Joined: 03/18/2017
    Splash Refinancing Bonus

    Read about the one crypto organization where the guy who ran it died and now there’s like 190 million that no one can access.

    https://www.npr.org/2019/02/04/691296170/cryptocurrency-exchange-says-it-cant-access-millions-after-founder-s-unexpected

    Not sure I want to trust my money with people who can’t put basic failsafe measures in place.

    #188605 Reply
    Liked by ENT Doc, Peds
    Avatar allb0003 
    Participant
    Status: Physician
    Posts: 13
    Joined: 02/06/2019

    Nothing would have made me happier than if they somehow got crypto onto real markets last year outside of just futures. It would be a dream to trade them. Lots of air was taken out of the market with futures and the availability of two sided trading. However, as they say you can always lose 100% more!

    Whats wrong with twitter? Its pretty much my favorite.

    Click to expand…

    Thank you for your reply.  Fidelity is launching a bitcoin/crypto custodial service for institutional investors in March.  I am not a trader.  But if this service becomes available to individual investors, it may be an option for you.  I am optimistic about the long term prospects of the bitcoin network.  I don’t day trade for this reason, but many people have made money doing this (and lost money, of course).  I treat it like other investments in my portfolio, buy and hold.  I do try to spend bitcoin when the opportunity presents itself in an effort to help the “bitcoin community.”

    #188614 Reply
    Avatar allb0003 
    Participant
    Status: Physician
    Posts: 13
    Joined: 02/06/2019

    Read about the one crypto organization where the guy who ran it died and now there’s like 190 million that no one can access.

    https://www.npr.org/2019/02/04/691296170/cryptocurrency-exchange-says-it-cant-access-millions-after-founder-s-unexpected

    Not sure I want to trust my money with people who can’t put basic failsafe measures in place.

    Thank you for your reply.  I have read the article you mentioned. My wife was the first to send it to me 😉

     

    This is why I recommended not allowing a company or an exchange to serve as a custodian of your bitcoin.  My recommendation would be to store your bitcoin in a cold wallet and in a safe. Just as you would store cash, for instance.  The bitcoin network had nothing to do with this.  If you were to get robbed of twenty dollars, is it the federal reserves fault?  Essentially the same idea applies. If you allow an exchange to hold 135 million dollars worth of crypto (from individual investors) and they decide to steal the money – or die….that is a major problem.

     

    I suspect there will be more to come on this story.  I doubt the funds have been “lost forever.”  They were probably just stolen.

    #188615 Reply

Reply To: Cryptocurrency.

In case of a glitch or error, please save your text elsewhere, clear browser cache, close browser, open browser and refresh the page.

Notifications Mark all as read  |  Clear