Replying to Avatar šŸ¢

Just pointing out that the bitcoin etf situation is unique and risk profile unknown. maybe if you want your grandma to have some bitcoin, a better solution would be to create derivative keys and sell it to her directly. :-)

To think these ETFs are good for our grandparents investing into bitcoin is foolish. These etfs are designed for the issuers to find profits in the arbitrage opportunities, and option markets, not as some safe haven for dumb money.
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nobody 2y ago

Hey, easy on the grandma dumb money. My grandma knew her shit.

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šŸ¢ 2y ago

šŸ˜‚ my b! I didnā€™t mean your grandma! She can prob hold her own keys though! Or join a multisig setup with you. Or you could give her a derivative key set, or some other method of not needing the ETF.

Honestly the only real reason I can think of for the ETF is for younger people to hold in their ROTH-IRA to avoid cap gains taxes.

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nobody 2y ago

Agree. This will be a retirement account run like no other. If itā€™s a true 1:1 reserves, none of us are bullish enough. None.

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Sikto 2y ago

And for old people with high net worth. Avoidance of cap gains is huge.

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šŸ¢ 2y ago

How does it make sense for old people with high net worth? Roth IRA has contribution limits, requires earned income, and 5 year minimum holding period. Kinda pointless for older high net worth individualsā€¦

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Sikto 2y ago

Sorry, Iā€™m speaking from a Canadian perspective. We have tax free spending accounts, which make a lot of sense. I donā€™t know anything about the US, or IRAs.

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Sikto 2y ago

Tax Free Savings Account. Not spending.

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nobody 2y ago

You Damn Canadiens.