This page has been archived and commenting is disabled.
Fidelity Now Allowing Bitcoins In IRAs
We are sure this will all end well... but as Marketwatch reports, Fidelity has partnered with SecondMarket’s Bitcoin Investment Trust to allow its clients to save for their retirement by putting the virtual currency in self-directed IRAs.
Via Marketwatch,
“If you are a Fidelity client, you can now invest in the Bitcoin Investment Trust through an IRA,” said Barry Silbert, chief executive of SecondMarket, in an interview.
...
MarketWatch previously reported that SecondMarket had teamed up with self-directed IRA providers PENSCO, Entrust and Equity Institutional to allow investors to save for retirement with bitcoin.
Fidelity is the largest and most well-known company that SecondMarket has teamed up with for this, Silbert said, adding that he hopes to add a few more providers soon.
How long until other larger pension funds demand access (via mandate changes) to the cryto-currency? This evening's comments from CALSTRS CIO:
- *CALSTRS: `WE ARE UNDERFUNDED' SO NEED CONTRIBUTIONS, RETURNS
- *CALSTRS: TARGETS 7.5% RETURN ANNUALLY OVER 10-YEAR PERIOD
Implies he needs to be "saving" to fund his liabilities in more than simple old stocks...
Is Bitcoin the great white hope for the nation's under-funded pension schemes?
»
- 17748 reads
- Printer-friendly version
- Send to friend
- advertisements -
Banks don't generally promote gold unless there is a smackdown ahead.
Concept 4) Liberty advocates love free markets. But, with freedom comes responsibility. Bitcoin exists in a free market. It is not regulated, tracked, or overseen by anything other than cold hard mathematics. Thus, the companies and organizations you find in Bitcoinland are often unregulated and private. A Bitcoin-based company doesn't even need to be registered as a company anywhere, because it doesn't need a business checking account or an IRS extortion number (known as an EIN). While this means Bitcoin enables truly free trade on a global scale, it also means Bitcoin users need to be careful and prudent. Don't buy things from companies or websites you don't trust. You may never see your money again, and there is no way to "reverse" a payment. With Bitcoin, reputation and history are everything. If you wouldn't give cash to a stranger in an alleyway, don't give Bitcoins to a stranger online. Enjoy the free market, and be a responsible adult.
http://evoorhees.blogspot.com/2012/04/bitcoin-libertarian-introduction.h...
How do you know what the end goal is? Are you a member of that club?
Also how do you know how bitcoin is controlled?
Because after looking into it myself for over a year now I've reached the exact opposite conclusion. So maybe you can clue me in to how you know all this?
In fact, together, you and I can audit the code and see exactly what bitcoin is and isn;t. Do you know what open source means?
If not I suggest you shut the fuck up and let the adults talk.
https://en.bitcoin.it/wiki/Myths
it's called rats jumping ship, onto whatever floats by.
WTF are you talkin' about? ... "free markets"
When you want to see otherwise sensible zh'ers get dumb, mention BitCoin. Just do your thing prisoners_dilemna, time will tell the tale.
They are definitely not touting bitcoin, they want you to invest in some bitcoin derivative, they're not going to actually buy bitcoins with your money in my opinion.
We'll know soon enough, if it gets to be any size there should be evidence of their purchases.
As soon as we loose cash we are in trouble. Tax everything.
You got loose cash? Send it over, I'll secure it in BitCoin, no way I'll lose those.
@IridumRebel
Suuuuuuure it is.
Love it when you barking seal trolls first heard about bitcoin, it was "nobody trades that", and "Its worthless". But when the financial heavy-hitters start getting involved, it becomes "They created it to track you". Hahaha. Yeah, sure buddy. Love that rationalization there.
What's next, when a country decides to back Bitcoin, they were originally founded as a nation to promote bitcoin hundreds of years ago?
What a bunch of complete goofball tinfoil-heads.
It's even on "The Simpsons":
http://www.youtube.com/watch?v=KV5haSCooHs
Bitcoin is true!!! The universe is a hologram. Bitcoin isn't real currency thus Bitcoin is a hologram.....which actually makes bitcoin real!!!!!!!!
Universe hologram shit:
http://www.nature.com/news/simulations-back-up-theory-that-universe-is-a...
All in. Last one in is a rotten egg.
I will wait and see if bitcoin stabalises.
What is your criteria for "stable"?
When the establishment embraces BitCoins, one must consider motivation.
Did they create BitCoin as an alternative to gold?
No one who knows anything about bitcoin has ever compared it to gold.
It is a compliment to gold. That is all.
My PM stash was in an IRA*
*In Rowboat Accident
BIT coin ....How about SHIT coin. What the fuck. Another fuckin PONZI. Lets see how long this lasts...........
I think we can make a bitcoin backed security. Just adding the term security will make the sheep buy it.
Coming down the Mountain!!
http://www.youtube.com/watch?v=YyQu_a4DAmU
I'll bet the Bitcoin purists aren't real happy about this. Bitcoin is on it's way to being fully regulated. (in the US) China is also cracking down on it's use, so there goes the 2 largest markets (by far) in BTC. I actually like the idea of BTC used as a store of value along with other investments, as opposed to being a currency alternative. (way too volatile)
These big banks/retirement custodians are going to buy it, and manipulate the hell out of it though. They just got busted for doing the same shit with PMs.
@Yen Cross
We're just fine with nations pretending they can push the jello back into the container. They can't. I've had extensive conversations with people I know living in China, who can read the original announcement and run businesses using Bitcoin there. This is a ring-fencing move, much like the "Special Administrative Regions" are, that's all. Hasn't stopped BTC China from trading, or other things happening.
But I know you're hoping for it all to end, for the "nightmare" of Bitcoin adoption to slow down and not inundate your doorstep, forcing you to get your feet wet. But the problem is -- it won't stop. (Well, YOUR problem, lol)
But of course, when Bitcoin first was out there, you barking seal trolls said it was worthless, and now that the heavy-hitters are getting involved, you're changing tack and saying that they planned it all along.
Pathetic rationalizers. Get with the times, or they're going to pass you by...
The Future Of Money: Gold, CIA And Bitcoin
All these discussions about the CIA and Bitcoin connections are still in the conspiracy theory category like LIBOR and FOREX manipulations before. After China has banned its financial institutions from participation in Bitcoin the question about who is really behind the Bitcoin is getting more and more interesting.
With Facebook we created for NSA all our profiles, with Bitcoin somebody is mapping our accounts, IDs and Networks. As the case with Silk Road shows Bitcoin transactions are public forever, can be mapped and build into evidence - so much for distribution and anonymity.
http://sufiy.blogspot.co.uk/2013/12/the-future-of-money-gold-cia-and-bit...
For those who are interested in trivia on just this topic and how far the squid tentacle stretch -this one is an interesting read.
http://12160.info/profiles/blogs/14-years-ago-jp-morgan-patented-bitcoin-like-payment-system?overrideMobileRedirect=1
Their friends at the NSA were exploring virtual currencies in 1996.
http://groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsa...
Very informative indeed. Thx
Fidelity is also opening an IRA for Yap Coins - ya know it hadda happen.....
http://www.npr.org/blogs/money/2011/02/15/131934618/the-island-of-stone-...
And in tomorrow's news
"Fidelity opening an IRA for used condoms and diaphragms"
Seriously, they have about as much value as 1's and 0's, and after the fact you have something to show for it.
Looks like a tulip, smells like a tulip..
Put the petal to the metal........
The Gnomes of Zurich are working overtime to make their Global Fully Electronic Fiat Currency the next and global reserve currency. Pay more attention to the actions than the words. BITCOIN is now receiving massive mainstream support... and it is not anti-central bank. It IS central bank ...
Where can I buy a bitcoin? Central bank selling them? Where?
Oh snap. Gotta go, DGC breakout
https://www.cryptsy.com/markets/view/26