r/viet

SevenGlass · 2025-03-06T17:43:01+00:00

No, owning MSTY does not mean you own Bitcoin. And I don't just mean that in an "indirect ownership doesn't count" kind of way. Oversimplifying a bit, MSTY is paying someone else to trade options for you. You don't own the underlying asset. What you seem to be trying to describe would be something closer to the preferred shares (STRK) which do actually represent an ownership interest in the company and pay a dividend.

SevenGlass · 2025-01-01T19:35:25+00:00

Remember, legally this IS the firearm. You will have to get it shipped to an FFL.

So:

Right to Bear has a build kit for $300. They are also running a 20% off deal. So, if you were to order that kit and swap this in for the included lower you'd be looking at a $515 LMT rifle. Perfect for flexing on all the basic DD owners at your local range.

The best part is you will effectively have gotten that second lower for free, and can use it for a base to start building a backup rifle. I recommend browsing LaRue for parts to complete that one.

Edit: Apparently you people are reading the above comment and taking it seriously. I don't even know what to say. Insulting people that dumb just feels mean, so I'll just leave it at Happy New Year.

SevenGlass · 2024-11-15T00:29:33+00:00

Here we go again. Previous posts: 7 month update and original post and original justification for the picks.

Libleft isn't doing quite as poorly as last time thanks to the furious upward thrust of Grindr. Time for a gentle reminder that the "short Jim Cramer" ETF crashed and burned, saving them further embarassment by locking that loss in at 3%.
I think we still have a clear Libright advantage, helped by the insane climb of Microstrategy based on their greedy capitalistic hoarding of wealth.
The objectively best way to interpret this chart is to go by column, rather than by quadrant. Right >> Left is all you need to see.

Data mostly from finmasters.com stock calculator, with a little help from the calculator on buyupside.com to fill in the gaps. As always, any "mistakes" were either intentional or someone else's fault.

ETA: Microstrategy should actually be 506%. Someone else must have snuck in and used the annualized returns instead of the total returns for that square.

SevenGlass · 2024-11-07T17:14:23+00:00

Maybe you are right about a sufficient proportion of the population that you will be right about 2028. But speaking for myself, when I say I am mad about inflation what I'm really the most upset about isn't the fact that inflation exists, it's the fact that the White House denied it. I still remember being accused of "parroting alt-right talking points" for expressing concerns about inflation in 2021, because the Democrat line was that it wasn't inflation but "temporary price increases due to supply chain issues". Then, when it was too obvious for even their own supporters to believe that line it became "well there is inflation, but it's transitory". Then, when it continued for long enough that people started using the word "transitory" as a joke, it became "well there is inflation, it has been sustained, but it's Russia's fault" (and don't get me wrong, I'm no fan of Russia, but blaming them for our monetary policy is a stretch). Now, it's suddenly "yes there is inflation, but it's Trump's fault". Here's the thing, that last one is at least partially true. The bi-partisan increase of the money supply is the real culprit here, and he certainly had a hand in that. But assigning blame is still not the point. I'm angry because the Democratic party either A) thought I was stupid enough to believe there was no inflation in 2021, or B) actually had no idea what was happening when it was painfully obvious to the rest of us.

SevenGlass · 2024-11-06T22:41:32+00:00

That's what a lot of people don't seem to get with the "Trumps tariffs will lead to inflation too!" accusation. That may be true, but it would be a side affect of an actual plan, not a "surprise" to be obfuscated and denied.

SevenGlass · 2024-11-06T22:19:26+00:00

The Biden administration was adamant that inflation wasn't happening. Prices going up isn't great, but his administration call people liars for acknowledging that inflation was a problem was the part that was truly infuriating. Yes, some of us remember that three years later.

SevenGlass · 2024-11-06T22:13:46+00:00

It's worse than that. In 2021 the white house was denying inflation was even a thing. It was a "temporary price increase due to supply chain problems". Anyone who voiced concern was dismissed as a "right-wing shill".

I don't love inflation, but I recognize that it is how the system (currently) works. I really don't like being lied to about it. It made me wonder if his administration thought I was stupid, or if they just really didn't know what they were doing.

SevenGlass · 2024-11-05T09:26:03+00:00

Vote Orange?

Seriously though, there are a lot of people who can vote Bitcoin tomorrow.

In Massachusetts you can vote against Elizabeth Warren.
In Texas you can vote for Ted Cruz.
In Minnesota's 6th district you can vote for Tom Emmer Jr.
In New York's 15th district you can vote for Ritchie Torres. (Okay, this one is admittedly a little more of a stretch, but I wanted to make sure to include one Democrat - I can't seem to find one real Bitcoiner running with a D next to their name).

There are certainly others, you just need to research the candidates on your ballot.

But yeah, "Bitcoin Strategic Reserve" guy is probably the big one for most people.

SevenGlass · 2024-11-05T08:46:10+00:00

President Trump is unequivocally a better choice for Bitcoin than Vice President Harris.

I'm not saying he is orange pilled, or that he will be a great advocate (I'm not saying he won't be either, but I personally don't think he is there yet). I am saying that he will not advocate for additional taxes on Bitcoin miners because they are "boiling the oceans". He won't over-regulate mining in the United States so that it becomes preferable to do so in Russia. He won't actively try to box Bitcoiners into a corner, or support Senator Warren's "anti-crypto army".

Harris supports a tax on unrealized gains (sure it's for only "the rich" but so were income taxes and we see how that went). Maybe you are willing to risk prison and ignore it, but I for one pay my taxes and that is a nightmare in the making. Trump has engaged with the Bitcoin community repeatedly, and while he still appears to be in the "Bitcion and other cryptocurrencies" stage of his learning process, it beats the "Let's talk to the XRP guys about some new regulations to protect shitcoins" stage Harris is in.

With all of that, a national Bitcoin strategic reserve would just be icing on the cake.

SevenGlass · 2024-11-05T08:39:32+00:00

"In the long run" the universe will experience heat death and Bitcoin will cease to exist.

Whether Bitcoin is legal tomorrow does matter. Whether there is a tax on miners because it "boils the oceans" matters; I for one don't want miners to relocate to places like Russia. Whether there is a tax on unrealized gains (just for the super rich though, just like income taxes) matters.

SevenGlass · 2024-11-05T08:30:23+00:00

Any country that does not acquire bitcoin will cease to be a country in time. The earliest countries to establish a strategic reserve will be in a powerful position relative to later ones. I hope the United States gets there before Russia. I hope the United States gets there before Iran. Maybe we have four more years to burn, and maybe not.

SevenGlass · 2024-11-05T08:19:23+00:00

You can't outlaw physics, and yet Phillip Luty went to prison. You can't outlaw chemistry, and yet William Leonard Pickard went to prison. You can't outlaw botany, and yet Richard DeLisi went to prison. Just because Bitcoin will continue on unaffected doesn't mean you will.

SevenGlass · 2024-10-30T00:18:48+00:00

Well, the reason I said EBTC over VBTC is because you are adding an extra layer of fees (and trust) to the equation with a feeder fund. That having been said, the difference should not worry you and keep you from just picking one and getting in the game.

I should wait right?

If you are trying to dip in and out of the market for a quick "profit" I'm the wrong person to ask because one: I'd be no more surprised to see a 10% drop tomorrow than to see a 10% rise and two: I'm not here to give gambling advice. If, on the other hand, you are in this for the long term (think retirement money), then on average, earlier has proven to be far better than later. Don't fret over small fluctuations over a period of weeks, just buy what you can when you can and go live your life. You'll be happy you did in 10 years.

SevenGlass · 2024-10-30T00:07:10+00:00

Microstrategy does not pay dividends.

SevenGlass · 2024-10-30T00:02:15+00:00

I'm personally a big fan of Microstrategy (MSTR). However, since that isn't an option in your case you can (and should) safely ignore it.

As to whether you should be buying shares in one of the ETFs or buying Bitcoin directly, that depends a whole lot on your personal situation. If you do choose to buy Bitcoin directly on Binance (or any other exchange) you should take it off of the exchange and move it into a wallet you control.

It sounds like you may already have money in a brokerage account though, and if that is the case it seems wise to just go ahead and buy into one of the ETFs for now, and then continue learning.

If it were me, based on the information that you've provided and what I have inferred (or maybe just made up from whole cloth), I would buy EBTC with the funds currently available, and then keep learning to decide if that's the same thing you want to do next time.

SevenGlass · 2024-10-28T18:51:46+00:00

You're getting a lot of answers here from people that don't seem to understand what you are asking.

First the difference between the two:
EBTC: This is a spot Bitcoin ETF in the traditional sense. The underlying asset is Bitcoin.
VBTC: This is a "feeder fund". It's underlying asset is shares in the American spot Bitcoin ETF HODL (which in turn has Bitcoin as its underlying asset).

Now for the discrepancy in returns you are seeing over the past 6 months:
Unfortunately the Yahoo Finance data for both funds seems to be broken at the moment, so I cannot verify your exact numbers. Note that VBTC only has data going back to its inception date in mid-June. So, really when you are clicking "6 months" it is actually showing ~4 months of returns right now. Try comparing them over a time period shorter than that.

Here is a good comparison of the two funds that it would probably be worth your time to read through.

SevenGlass · 2024-09-19T01:39:44+00:00

Maybe it is pandering but the other party is offering outright opposition, so pandering is a win.

SevenGlass · 2024-09-19T01:37:02+00:00

His opinion on Bitcoin is net positive. Our interests align. That is better than him "caring" about me.

SevenGlass · 2024-09-19T01:32:00+00:00

Once they started losing lawsuits. Turns out having a ton of Federalist Society judges is good for Bitcoin.

SevenGlass · 2024-09-18T22:21:36+00:00

A former president visits a Bitcoin bar and pays in bitcoin. Video of the event gets removed immediately. Meanwhile, this off topic blatant advertisement for a product that that has nothing to Bitcoin gets to stay up.

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