Replying to Avatar Dr. Bitcoin, MD

I talked with them. It’s minimal fee to set up but 3% round trip fee, half paid upon purchase and half at time of sale, assuming they don’t change the agreement before you sell.

Rolling over GBTC would make sense, but from a 0.25% etf might take far more than 12 years to pay off, if ever, because you lose 1.5% of your coins instantly.

It’s still not clear to me how they handle multisig. Do you hold 2 keys? Ie, Can you unilaterally prevent coins from moving? Can you unilaterally spend coins? If so, you’re giving away 1.5% of your coins for a very large degree of protection (and if your coins have yet to be purchased, you’re really only talking 0.5% as a 1% spread is normal on retail exchanges).

I suppose it could make sense if you can put appreciated bitcoin into your IRA and take the dollar amount contributed as a tax write off…I didn’t ask about that.
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Neal 9mo ago

if they go out of business, u have 2 keys so ur good. if u lose a key, they have another so your good

it all depends on your situation and your own preferences.

the fee’s might be a little higher than swan or river, so it’s really whatever you value more, an institution holding ur IRA btc for less, or you holding ur IRA btc for more

I don’t think there are really any wrong answers to these questions.

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Dr. Bitcoin, MD 9mo ago

The new fidelity crypto retirement product is supposedly very low fee. I suppose that means it undercuts their 0.25% per year FBTC…

Retirement products necessarily require a tax advantage to make sense…so this can only apply to a certain fraction of one’s wealth/income. But there’s no great reason to give government more taxes than necessary.