Ko mutengi anofanira kufungisisa sei?
Ndiyo nyaya yandakave ndichiita kwemakore mashomanana ikozvino. Kunyange zvazvo ndakaona bitcoin uye cryptocurrencies sechinhu chisarudzo mune imwe shanduro yekutsinhanisa mari yevatengesi vemari, Burniske uye White vanoita nyaya yokuti vanogona kumira vari voga uye vanoonekwa sega yavo yekambani yezvigaro nenzira imwecheteyo kuti zviyero nezvisungo are.
Iyo pepa inogadzirisa nyaya yakamanikidza yeizvi uye inoita saizvozvo nehuwandu uye dhesi ikozvino yavapo uye inogona kuongororwa zvakanaka zvakapiwa nhoroondo ye bitcoin uye yekutengeserana kwayo pakugoverana.
Nyaya yavanoita ye bitcoin uye cryptocurrencies inofanirwa kuonekwa seye itsva yechipatimendi inotungamirirwa kumusha neongororo yechina yekuongorora.
"Kuita mari" kwebitcoin
Pfungwa yekutanga ndeyokuona "mari yemari" ye bitcoin. Zvichipa kuwedzera kwekutengeswa kwe bitcoin uye chokwadi chokuti kutengesa kuwanda kwebitcoin pakutsinhana kuri kukwana $ 1 bhiriyoni pazuva, pfungwa yacho inogona kujekeswa. Wedzera kune izvi kuvharwa kwe bitcoin pamisika uye kukwanisa kuitengesa munyika yose pamusika wemaawa makumi maviri nemaviri kunofananidzwa zvakanaka kune mamwe mazvikwereti kusanganisira GLD, inotengeswa chete muUnited States uye Singapore.
Chimwe chezvinyorwa zvinonakidza zvakagadzirwa nevanyori vari mupepa ndezvokuratidzira kwavo kuti "huwandu hwehuwandu hwehuwandu hwevanhu hunogona kunge huchida kuchengeta cryptocurrency pane kuenzana mune kambani inoshandiswa nevanhu." Izvi zvingaita sezviri nyore kuziva kana iwe unotaura kune zviuru zvemamiriyoni zvisingaiti kune "misika yemabhizimisi" uye inogona kunge yakanyanyisa kufunga "cryptos" semari.
Kushandisa bitcoin munyika yose
Chechipiri kuongororwa kunobva pakukwanisa kwematcoins uye cryptocurrencies kuti zvikwanise kugadzirisa marudzi ese ekutengeserana munyika yose kuratidzira kukwanisa kwavo kuchengetedza kukosha kwezvakanyorwa nevanyori sehuwandu hwe "politico-economic" profile. Ichokwadi kuti chinangwa chinogona kugadzirisa kutengeserana kwepamiganhu (zvakadhura kudarika zvingasarudzwa zvino), kupa mabhengi masimba kune vasina kubhadharwa uye kuita saizvozvo nechomukati sarudzo inoparidzirwa uye kwete pasi, inoratidza kukwanisa kwayo kugadzirisa kutengeserana kwemarudzi akawanda nemhinduro uye zvinobudirira.
Chimwe chezvinhu zvinonakidza zvikuru zve White Paper ndezvokuti vanyori vanotaura sei musiyano mukuru pakati pezvakagadzirwa (zvakapedzerwa) zvakakwana zvezvisikwa zvinonzi bitcoin kusvikira kuwedzera kukura kwekuwedzera kwemari uye yegoridhe, uye kuti " hapana chinyorwa munhoroondo yakatevera shanduro yakadai yekutengesa trajectory "sezvinonzi bitcoin.
A "isina-correlated" asset
Chimwe chechitatu chekuongorora kwavo chinosangana nezvandinoona kuti ndicho chinhu chikuru chekutarisa bitcoin uye cryptocurrencies seimwe nzira dzekutsvaga mari - kukwanisa kwavo kuva "kwete-correlated" yefa. Nhamba yezvimwe zvinoshandiswa pakutsvaga kwekutsvaga uye kugovera zvikamu zvekugadzirisa zvakakonzerwa kubva mune dambudziko rezvemari ra2008 kuitira kupa vashandi mari yekusarudzwa kwezvinhu zvisinganyatsogadziriswi pamamiriro ekutengeserana.
Nokuisa zvishoma muzana mu "zvisina kuwirirana" pfuma, kufunga ndiko kuti zvinhu izvi zvinotendera kuti nzvimbo yepamusoro yehupfumi yepamusoro iite zviri nani pane dutu rakagadzirwa nemusika kusagadzikana. Nenzira iyi, zvinhu izvi uye kuonekwa kwavo se "kushandiswa kwekutsvaga" kunonyanya kuisa pangozi yakawanda yehuwandu hwepodfolio uye kushandiswa kwezvikwereti izvi zvakauya kuzoita basa muuchenjeri wehuwandu hwemari.
Ndakaona nhamba munguva yakapfuura iyo inoratidza zvakajeka kubatana kwe "kusagadzirisa" ukama kune dzimwe dzimba, asi mu White Paper, vanyori vanopa mufananidzo wakajeka weizvi nokuisa pachena kuti vakaona kuti " Kuoma, kutcoin yemari yemitengo akaparadzaniswa uye akasiyana neavo emamwe mapoka emakambani mumakore mashanu apfuura. Bitcoin ndiyo chete inoshandiswa iyo inoramba iine hukama husinganzwisisiki nedzimwe zvinhu zvose. Zvinoshamisa, iyo yakagadzirisana yakawanda, yakanaka kana yakaipa, iyo bitcoin inoratidzirwa neumwe neumwe wezvimwe zvinhu (S & P 500, US Bonds, Gold, US Real Estate, Mafuta uye Emerging Market Currencies) ndiyo inguva yekugadzirisa iyo imwe yeimwe yepakati pairi inoratidzwa pamwe chete. "
I "Sharpe Ratio"
Kune vashandi vekutsvaga mari, kuisa pamwe mahofisi akakodzera uye kusarudza pamusoro pekutsvaga kwekutsvaga mari inoda kuti izvi zvisarudzo zvive zvakakonzerwa nemubairo-mubayiro kuongororwa kwezvinhu. Izvi zvingangodaro apo vanyori vanoita nhare yavo yakasimba yekuti bitcoin ne cryptocurrencies zvinofanira kuenzanisirwa sei sechikwata chesaiti itsva. Chikamu chechina chekuongorora kwavo chinosanganisira Sharpe Ratio (yakagadzirirwa neNobel Prize winner, William Sharpe), iyo inokosha uye ine simba yepepanti yechisarudzo chisarudzo chinoyera kuwanda kwekudzoka pamwe nematambudziko anotorwa. Chaizvoizvo inopa nzira kumusimari kuti anzwisise mubairo wekubhadhara (kudzoka) kuti vanogona kuwana mukana wekuda kwavanoda kutora.
Izvi zvinodzokera kumashure ekukurukurwa kwakaitwa nevashambadzi vakawanda (kana kuti vanofanira kuva) nevanopa mazano avo vezvemari pamusoro pengozi yavanoda kutora uye vachikwanisa kurara usiku.
Burniske anotaura kuti semurimari, " izvo zvaunoda kuwona zvinhu zvakakwirira zvakanyanya Sharpe ratios nokuti zvinoreva iwe uri kuwana zviri nani kubhadhara dambudziko rauri kutora. "
Mumwe mutori anofanira kufarira kuzadzikisa kudzoka kunoenderana nehuwandu hwavanenge vatora uye Sharpe Ratio inogona kubatsira kuziva kuti kuwirirana. Izvo zvakanyorwa nevanyori mukutsvakurudza kwavo kwemakore mashanu ndeyekuti pamakore matatu kubva pamakore mashanu, bitcoins zvechokwadi aiva nepamusoro Sharpe ratios akaenzaniswa nedzimwe dzimba dzemari. Vanoratidza zvakare kuti kubata kwekutsika kwe bitcoin kwave kudererawo mumakore mashomanana apfuura, kuratidzira kusimwa kwefa.
Izvozvo zvichaita kuti vatengesi vaite here?
Ndinorumbidza vanyori nokuda kwebasa ravo rakanyatsonaka uye nzira inogutsa yehurukuro. Somumwe munhu anoziva kukwanisa kuongorora kunyora uye kuchema zvidzidzo sekusarudzwa kwekutsvaga, zvinogona kunge zvave "kuparidzira kuimba" kune ini asi vakagadzira mushumo unonyatsotsvakurudzwa, hwakanyatsorondedzerwa uye huri nyore kuverengwa, hunotipa nyaya inogutsa kunyange kunyange mucherechedzi asina chokwadi.
Ndinotenda kuti ichagamuchirwa nemuzhinji wekutsvaga kwekutsvaga sechisimba chekuziva chokwadi che "chikwata chemauto mashoma" uye tichakurumidza kuona mazano nevatungamiriri vemari vachitaura izvi nekuzvibatanidza mune ramangwana ravo rekugadzirisa zvikwereti. Vakawanda vakanditaurira kuti vatengi vavo nevatengi vanozvitsvaga zvakapiwa zvadzo zvekupedzisira pa bitcoin uye kumanikidzira maitiro ekutsvaga kwekuita seA DAO nedzimwe mavambo anonzi blockchain.
Iniwo ndinobvumirana nevanyori kuti kufunga nezve bitcoin uye cryptocurrencies zvakakwana se "mari" inopera. Ndinokumbira vaverengi nevatengi kuti vatange kutaurira bitcoin nedzimwe cryptocurrencies se "cryptoassets". Vanyori vakaita nyaya yakamanikidzika kwavari se "itsva yeasset class" uye inofanira kuenzaniswa maererano.