You're looking at Less Wrong's discussion board. This includes all posts, including those that haven't been promoted to the front page yet. For more information, see About Less Wrong.

ESRogs comments on Look for the Next Tech Gold Rush? - Less Wrong Discussion

34 Post author: Wei_Dai 19 July 2014 10:08AM

You are viewing a comment permalink. View the original post to see all comments and the full post content.

Comments (113)

You are viewing a single comment's thread. Show more comments above.

Comment author: ESRogs 23 July 2014 07:27:59AM *  0 points [-]

Unless you're orders of magnitude wealthier than I think you are, your exposure to an opaque illiquid minor hard-to-price asset like domain names should look more like $10 than $100,000.

Last I read you said you'd made more money buying bitcoins than you had doing anything else, and you still hadn't sold any. Has that changed?

~~Edit: went looking for the comment I remembered reading and didn't find it, but I did find this comment where you mention advising someone else to diversify out of bitcoins. So that makes me think either a) I misremembered what you said, b) you advised others to diversify, but stayed heavily invested yourself, or c) you had made the claims I remembered, but diversified shortly thereafter.~~ [doesn't double-tilde do strikethrough?]

Edit2: Found it.

Comment author: gwern 24 July 2014 07:21:06PM 2 points [-]

Last I read you said you'd made more money buying bitcoins than you had doing anything else, and you still hadn't sold any. Has that changed?

I have been periodically cashing out small quantities, since you're right, I'm not comfortable having so much of my net worth in bitcoins. It's not going very fast, though, since if I sell it all it'll cause tax problems and I don't understand taxation at all. (I'm not sure how much I can funnel through Coinbase before I trip various requirements.)

At least all the institutional interest seems to have tamped down on the volatility lately!

Comment author: ESRogs 25 July 2014 05:52:03PM 3 points [-]

I don't understand taxation at all.

Do you have questions that are not answered here? My understanding is that you just pay capital gains. That's what I did, and the IRS seemed to be happy with my tax return.