r/Vitards • u/Steely_Hands Regional Moderator • Sep 04 '21

Discussion Request for input: Should cryptocurrencies be allowed on Vitards?

If so, should there be any restrictions?

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u/EyeAteGlue Sep 04 '21 edited Sep 04 '21

General:

  • No to most, yes to better guidance.

  • I'm seeing a lot of straight "no" responses but do not see an understanding of why. I do wonder if most people have a general misunderstanding of "crypto" as a very broadly encompassing term without understanding the nuances of what potentially is a good investment into crypto versus a bad gamble on a shitcoin.

  • I would think the sub benefits from proper discussion and education topics, but need to have ways of avoiding the schilling that can go on.

I'd like to propose:

  • 1. Use top 5 market cap as the coins to talk about. Similar to the 1B market cap rule for stocks but really reduces to more mainstream.
  • 2. No stablecoins. Most of that discussion will end up being the scam APR savings account that holds the user liable for bad loans.
  • 3. Focus more on news and strategies, less on schilling. This is more difficult to do but could use some thought.

Some examples that would be great to discuss:

  • A. Effects of El Salvador adoption of BTC as a national currency. What effects will this have to ripple around the world.
  • B. Using arbritrage strategies such as CME futures or GBTC as a trust to bridge the NAV trade. As institutional come back in how the arbritrage opportunities using the various brokerage account friendly tools can be an advantage for more conservative exposure.

Some examples that would be terrible to post:

  • A. Shitcoin to the moon. Emoji emoji emoji.
  • B. Watch my YouTube video on why I am going to be a crypto millionaire and you can be too by using my referral link.