Ninjastic
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Board Bitcoin Discussion
Re: A day in the life of a pirate.
by
coblee
on 31/05/2012, 22:31:22 UTC
Quote from: imsaguy on May 31, 2012, 10:25:12 PM
Quote from: coblee on May 31, 2012, 10:16:25 PM
Quote from: PatrickHarnett on May 31, 2012, 09:30:28 PM
My approach for a long time has been to diversify my portfolio (a point Colbee seems to think is a stupid approach in another thread), so I have lots of different investments (active and passive) around bitcoin-land.  Current BS&T exposure is 20%.

You misunderstood me. I don't think diversifying is stupid. I actually fully diversify mine also.

I was just saying that your exposure to PPT is the same as your exposure to BS&T, because the risk scenario is the same. If pirate defaults, you lose both your BS&T deposits and your PPT insurance fund. So if for example your exposure to PPT is also 20%, effectively 40% of your portfolio is at risk of pirate defaulting.

Assuming, of course, that PPT is equal in size to his other investments.

I did say for example. I don't know what his exposure to PPT is. From what I remember, he said that he wouldn't take the money he has in PPT insurance fund and put it in BS&T because he likes to diversify his portfolio. And my reply just stated that it's not really diversifying.