I define "bitcoin" as "what you would have now if you had held the original bitcoins" so one bitcoin is equal to 1 unit of core and 1 unit of cash plus some other stuff and there are still 21 million.
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Replying to @DanielKrawisz @bradmillscan and
How should someone who got interested in Bitcoin in November make use of that definition?
2 replies 0 retweets 10 likes -
Replying to @bitstein @bradmillscan and
They should recognize that the bitcoin index is a less risky investment than any of the individual chains of bitcoin and it should be seen as a good default option for most people and it is what the original investors called "bitcoin".
3 replies 1 retweet 7 likes -
Replying to @DanielKrawisz @bradmillscan and
How does someone invest in the “Bitcoin index”?
1 reply 0 retweets 13 likes -
Replying to @bitstein @bradmillscan and
You buy equal units of all the chains of bitcoin.
5 replies 0 retweets 14 likes -
Replying to @DanielKrawisz @bitstein and
Looking at past performance, don’t you think it would be a “better investment” to buy a top-10 altcoins index?
1 reply 0 retweets 14 likes -
Replying to @pierre_rochard @bitstein and
Yes, but I'm not attempting to pick out the best investment. My only claim is that the bitcoin index is less risky than any individual chain of bitcoin.
4 replies 0 retweets 13 likes -
Replying to @DanielKrawisz @bitstein and
Why is an altcoin index not less risky than a “Bitcoin Index”?
1 reply 0 retweets 5 likes -
Replying to @pierre_rochard @bitstein and
Because if you have some of the bitcoin index, you always have the same fraction of the total (as with the original bitcoin) whereas you can never index over the altcoins because people can keep creating new ones.
2 replies 0 retweets 0 likes -
Replying to @DanielKrawisz @bitstein and
You don’t index over all the altcoins, just the major ones, and you rebalance. Your strategy is just based on motivated reasoning / cognitive bias of having an altcoin foisted upon you.
1 reply 1 retweet 12 likes
Bitcoin indexism only needs to be rebalanced when you add/deplete significant funds on chain. Complexity barrier to entry will increase as hyperbitcoinization lends incentives to making new forks.
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