Cryptocurrency

[Cdub100 3,689]

16 minutes ago, jonmx said:

I would guess the goal is to drive BTC back down to $30k or even $20k.   They want their 20x or 30x gains.  It may be April before the ETFs are approved.  And all the SEC folks will be lining their pockets. 

I'll just keep buying. Coins on chain continue to drop at some point they won't be able to surpress price 

[edjr 6,306]

23 hours ago, edjr said:

NOSE DIVE!

BUY BUY  BUY!! 

−2,404.40 (5.35%)today

nailed it!

[Frozenbeernuts 1,883]

It bounced back. Short term price drops don't affect me. If anything it just makes the bitcoin for that week cheaper if I'm buying some. These little 5% dips will be laugable when bitcoin is in the multiple hundreds of thousands of dollars.

I don't know why anyone would seriously trade. A little here and there I get, but buy and hold out performs trading almost every time.

[jonmx 2,201]

Seems like the market is getting ready for an approval by tomorrow.  Not sure of this is more accurate than the FUD created by the report form a firm called Matrixport.  You would think these reports would be considered market manipulation.   We will see tomorrow what happens.  But today os mostly rebounding. 

[WhiteWonder 2,480]

4 hours ago, Frozenbeernuts said:

It bounced back. Short term price drops don't affect me. If anything it just makes the bitcoin for that week cheaper if I'm buying some. These little 5% dips will be laugable when bitcoin is in the multiple hundreds of thousands of dollars.

I don't know why anyone would seriously trade. A little here and there I get, but buy and hold out performs trading almost every time.

people make money on investments in many different ways, including having a long position while also trading. it's been a fairly long time since any of the regular posters in here have talked much about crypto in terms of buying as much of it as possible for when it replaces fiat currencies... which used to be one of the main talking points (possibly before you even got interested in it). 

When people pop around because the value went up, it's always talked about in terms of USD. In this quoted post, you literally mention dollars. Are you really planning on holding whatever BTC you have indefinitely for some some great shift in the world economy or are you holding for a target USD amount? I would bet the latter. Which is great... 

[iam90sbaby 2,300]

4 hours ago, WhiteWonder said:

people make money on investments in many different ways, including having a long position while also trading. it's been a fairly long time since any of the regular posters in here have talked much about crypto in terms of buying as much of it as possible for when it replaces fiat currencies... which used to be one of the main talking points (possibly before you even got interested in it). 

When people pop around because the value went up, it's always talked about in terms of USD. In this quoted post, you literally mention dollars. Are you really planning on holding whatever BTC you have indefinitely for some some great shift in the world economy or are you holding for a target USD amount? I would bet the latter. Which is great... 

No one has ever talked about crypto completely replacing fiat. But in a lot of ways it already has. Plenty of businesses and people use crypto, especially when sending large sums of money internationally.  Are you still sitting on the sidelines or have you bought in yet?

[WhiteWonder 2,480]

39 minutes ago, iam90sbaby said:

No one has ever talked about crypto completely replacing fiat. But in a lot of ways it already has. Plenty of businesses and people use crypto, especially when sending large sums of money internationally.  Are you still sitting on the sidelines or have you bought in yet?

umm, there was plenty of discussion in this thread regarding crypto disrupting fiat and replacing it. you know that.  Using crypto to send large sums of what will ultimately turn into fiat doesn't point to crypto replacing fiat as much as it may point to crypto replacing wires/ACH/etc.

I've posted in this thread before when I have bought and sold ETH and that ETH is the only crypto I have bought, held, sold (well that and a little play money on Doge back in 2021 when elon was running it up before his SNL appearance ). I have also said a few times that I definitely regret not investing in BTC when it was 4-500 and making a boat load on that very first fomo runup. Even when it retracted back to the 5-6k range would have been another time I regret not picking some up before its run into the 60k+ range. 

I'm sure you're one one of those kids who never has made a bad trade or missed an opportunity. You've always struck me as the type who would never admit it. 

[Frozenbeernuts 1,883]

5 hours ago, WhiteWonder said:

people make money on investments in many different ways, including having a long position while also trading. it's been a fairly long time since any of the regular posters in here have talked much about crypto in terms of buying as much of it as possible for when it replaces fiat currencies... which used to be one of the main talking points (possibly before you even got interested in it). 

When people pop around because the value went up, it's always talked about in terms of USD. In this quoted post, you literally mention dollars. Are you really planning on holding whatever BTC you have indefinitely for some some great shift in the world economy or are you holding for a target USD amount? I would bet the latter. Which is great... 

Bitcoin will go up forever against the dollar until it dies. The dollar will die one day. Fiat currencies cannot last forever. They get debased to a point where people no longer trust the currency. When that happens though, I have no idea.

In simple terms, finite bitcoin, infinite dollar. Therefor bitcoin, as long as it still works, will go up forever against fiat.

I only plan on selling if I need to purchase something significant for me and my family.

[WhiteWonder 2,480]

1 minute ago, Frozenbeernuts said:

Bitcoin will go up forever against the dollar until it dies. The dollar will die one day. Fiat currencies cannot last forever. They get debased to a point where people no longer trust the currency. When that happens though, I have no idea.

In simple terms, finite bitcoin, infinite dollar. Therefor bitcoin, as long as it still works, will go up forever against fiat.

I only plan on selling if I need to purchase something significant for me and my family.

Cool. I was genuinely interested in what your end game was. Would be cool if major world governments actually let that happen but I still say they never will unless they control it… which contradicts the decentralized aspect. 
 

also thank you for very quickly proving my point for 90sbaby

[iam90sbaby 2,300]

17 minutes ago, WhiteWonder said:

umm, there was plenty of discussion in this thread regarding crypto disrupting fiat and replacing it. you know that.  Using crypto to send large sums of what will ultimately turn into fiat doesn't point to crypto replacing fiat as much as it may point to crypto replacing wires/ACH/etc.

I've posted in this thread before when I have bought and sold ETH and that ETH is the only crypto I have bought, held, sold (well that and a little play money on Doge back in 2021 when elon was running it up before his SNL appearance ). I have also said a few times that I definitely regret not investing in BTC when it was 4-500 and making a boat load on that very first fomo runup. Even when it retracted back to the 5-6k range would have been another time I regret not picking some up before its run into the 60k+ range. 

I'm sure you're one one of those kids who never has made a bad trade or missed an opportunity. You've always struck me as the type who would never admit it. 

It's already disrupted fiat and has replaced it in some aspects. No one said it's completely eliminating fiat, at least I didn't.

Also not a kid, I have a house completely paid off and all my bills are paid bud. And you're right, I'm almost never wrong.

[WhiteWonder 2,480]

2 minutes ago, iam90sbaby said:

It's already disrupted fiat and has replaced it in some aspects. No one said it's completely eliminating fiat, at least I didn't.

Also not a kid, I have a house completely paid off and all my bills are paid bud. And you're right, I'm almost never wrong.

I meant kid in the fact you are one of the younger posters here, especially when you first joined. I even vaguely remember your temper tantrums doing Star Wars drafts with Voltaire and joining his dynasty league (unless I’m confusing you with someone else)

FBN literally just stated fiat will be gone. So like I said , it’s been mentioned in this thread before and not just by him. But by all means retract from “no one, ever” to “at least not me”. 

And yes, was fairly sure you were one of those who claims to always make the right move. We all know guys like that  

[iam90sbaby 2,300]

1 minute ago, WhiteWonder said:

I meant kid in the fact you are one of the younger posters here, especially when you first joined. I even vaguely remember your temper tantrums doing Star Wars drafts with Voltaire and joining his dynasty league (unless I’m confusing you with someone else)

FBN literally just stated fiat will be gone. So like I said , it’s been mentioned in this thread before and not just by him. But by all means retract from “no one, ever” to “at least not me”. 

And yes, was fairly sure you were one of those who claims to always make the right move. We all know guys like that  

Yeah you are, I've never even watched a Star Wars movie before

Yeah that's me, I'm one of those guys 

[Frozenbeernuts 1,883]

1 hour ago, WhiteWonder said:

Cool. I was genuinely interested in what your end game was. Would be cool if major world governments actually let that happen but I still say they never will unless they control it… which contradicts the decentralized aspect. 
 

also thank you for very quickly proving my point for 90sbaby

I agree that the government is not going to allow this without a fight. They are already cracking down on p2p with the new law that requires full kyc for txs larger than $10k. Basically need to have identity completely unlinked to bitcoin. Buying non kyc bitcoin is so valuable. I haven't, but I should work on it.

[jonmx 2,201]

11 hours ago, Frozenbeernuts said:

I agree that the government is not going to allow this without a fight. They are already cracking down on p2p with the new law that requires full kyc for txs larger than $10k. Basically need to have identity completely unlinked to bitcoin. Buying non kyc bitcoin is so valuable. I haven't, but I should work on it.

Governments are just puppets.  The real power is in those who own the central banks. 

[Frozenbeernuts 1,883]

Aaaaaand we're back above $45k. Every drop in bitcoin's usd pairing is temporary. One asset had a fixed supply, the other has an infinite supply. It's very simple supply and demand numbers here.

The ETF approval is looking like a go, but it's not a done deal yet.

The ETF allows wall street and the government to capture a large portion of bitcoin. It's sad to see, but I will never buy a claim on the bitcoin. I will only ever purchase the real thing.

Some speculate an ETF approval and or ETF launch will be a sell the news event. Maybe it will be in the very short term. I doubt it because of the severely limited supply, but if it does drop, it will turn around pretty quickly.

I think some of you are really underestimating the effect of the ETF on the price.

[Cdub100 3,689]

19 minutes ago, Frozenbeernuts said:

Aaaaaand we're back above $45k. Every drop in bitcoin's usd pairing is temporary. One asset had a fixed supply, the other has an infinite supply. It's very simple supply and demand numbers here.

The ETF approval is looking like a go, but it's not a done deal yet.

The ETF allows wall street and the government to capture a large portion of bitcoin. It's sad to see, but I will never buy a claim on the bitcoin. I will only ever purchase the real thing.

Some speculate an ETF approval and or ETF launch will be a sell the news event. Maybe it will be in the very short term. I doubt it because of the severely limited supply, but if it does drop, it will turn around pretty quickly.

I think some of you are really underestimating the effect of the ETF on the price.

I think we tank bank into the 30s simply because everyone is expecting it to go up.

I do believe over the next 10 years the ETF will help BTC explode.

[jonmx 2,201]

I see it the other way.  I have never seen 'sell the news' so overhyped.   There is going to be huge fluctuations when the ETF's are approved, but the billions coming into the market to buy BTC is going to drive demand through the roof.   It may not be immediate, but demand is going to spike during this year and BTC will go way up.   Just lock in your positions and don't let the volatility scare you.  I would be shocked if BTC isn't sitting at least at $140k by years end. 

[Cdub100 3,689]

27 minutes ago, jonmx said:

I see it the other way.  I have never seen 'sell the news' so overhyped.   There is going to be huge fluctuations when the ETF's are approved, but the billions coming into the market to buy BTC is going to drive demand through the roof.   It may not be immediate, but demand is going to spike during this year and BTC will go way up.   Just lock in your positions and don't let the volatility scare you.  I would be shocked if BTC isn't sitting at least at $140k by years end. 

I can see that too. With the halving, we should have a huge run up. I'm thinking short term we get a dip. Seems like when everyone agrees something is going to happen, it doesn't. That's the only reason I see a dip.

[Frozenbeernuts 1,883]

2 hours ago, Cdub100 said:

I think we tank bank into the 30s simply because everyone is expecting it to go up.

I do believe over the next 10 years the ETF will help BTC explode.

I see a lot of sentiment both ways. I lean on the limited supply and the millions to billions that are going to come in.

I saw a tweet stating existing funds are amending their rules to allow exposure to these etfs

Bitcoin has been and will continue to be the best performing asset. Wall Street played a part in slowing down last cycle's run. Not because they want to kill it, but because they want a piece of the pie. It makes sense to me that institutional investors are going to finally feel more secure putting money in, and who doesn't want exposure to the best asset?

[edjr 6,306]

On 1/4/2024 at 6:52 PM, iam90sbaby said:

No one has ever talked about crypto completely replacing fiat. But in a lot of ways it already has. Plenty of businesses and people use crypto, especially when sending large sums of money internationally.  Are you still sitting on the sidelines or have you bought in yet?

did someone say FIAT?

[Frozenbeernuts 1,883]

Bitcoin is up 3% today alone. It's up 170% about in the last year. Nothing moves upward like bitcoin does. Why would someone not have at least some exposure to the best performing asset?

I saw someone post on Twitter that they were good on wealth, they didn't need bitcoin exposure. That makes no sense at all.

[edjr 6,306]

On 1/3/2024 at 9:01 AM, edjr said:

NOSE DIVE!

BUY BUY  BUY!! 

−2,404.40 (5.35%)today

 

[Frozenbeernuts 1,883]

 

[Cdub100 3,689]

20 minutes ago, Frozenbeernuts said:

Bitcoin is up 3% today alone. It's up 170% about in the last year. Nothing moves upward like bitcoin does. Why would someone not have at least some exposure to the best performing asset?

I saw someone post on Twitter that they were good on wealth, they didn't need bitcoin exposure. That makes no sense at all.

Exactly if anything you put 1-3% against it.

I bought more Solana today and plan to buy some more meme coins Bonk, Snek, COQ

[jonmx 2,201]

25 minutes ago, Cdub100 said:

Exactly if anything you put 1-3% against it.

I bought more Solana today and plan to buy some more meme coins Bonk, Snek, COQ

 

I tend to avoid meme coins, as they are pure gambles and probably will have no future value.  But who knows, Bonk could boink up 80 percent tomorrow with a small pump or tweet. 

Something like ICP can pop just as much, but it also has long term potential and could sustain a much longer run.  

[Frozenbeernuts 1,883]

51 minutes ago, Cdub100 said:

Exactly if anything you put 1-3% against it.

I bought more Solana today and plan to buy some more meme coins Bonk, Snek, COQ

Wall Street is telegraphing their move here like no other time in history. People are so skittish. Many people will look back in history and wonder why more people didn't front run this move from Wall Street.

[Alias Detective 1,313]

5 hours ago, Cdub100 said:

I think we tank bank into the 30s simply because everyone is expecting it to go up.

I do believe over the next 10 years the ETF will help BTC explode.

Markets a well ahead of their time.  The ETF adoption has already been built into the price.  It likely will hover, drop or tank from here.

[Frozenbeernuts 1,883]

Whatever you do, if you don't own any bitcoin, don't look at any price action today or over the next two years. It's going to be a very tough pill to swallow. Ignorance is your friend here. Looking will only produce anger and resentment.

[Frozenbeernuts 1,883]

Just now, Alias Detective said:

Markets a well ahead of their time.  The ETF adoption has already been built into the price.  It likely will hover, drop or tank from here.

I think that you fail to realize how limited the supply of bitcoin is. The ETFs haven't even bought bitcoin yet. Their inflows are still 0. How is the price not going to move up when millions, possibly billions flow in?

Maybe the price dips after they are approved. It will be a very short lived dip.

Ath before the halving is more likely than any prolonged or significant dip.

I hope you are being a contrarian just so you can look smart in the rare chance you are right, rather than using flawed logic to make a definitive stance like this

[Frozenbeernuts 1,883]

Holy sh*t definitely don't look at the price now if you don't have bitcoin

 

[Frozenbeernuts 1,883]

That's a lot of up in one day. Bitcoin's one day return is a good year for standard and poor

[Cdub100 3,689]

3 minutes ago, Frozenbeernuts said:

Holy sh*t definitely don't look at the price now if you don't have bitcoin

 

I really need it to stay below 54k until the Celsius Chap 11 effective date.

[Frozenbeernuts 1,883]

1 minute ago, Cdub100 said:

I really need it to stay below 54k until the Celsius Chap 11 effective date.

When is that date?

[Horseman 1,987]

30 minutes ago, Frozenbeernuts said:

Bitcoin is up 3% today alone. It's up 170% about in the last year. Nothing moves upward like bitcoin does. Why would someone not have at least some exposure to the best performing asset?

I saw someone post on Twitter that they were good on wealth, they didn't need bitcoin exposure. That makes no sense at all.

Crypto assets or assets in general?

- not insured

- volatile

- threat of government regulation

- security

- payments are irreversible

- transactions are anonymous

I have a very small amount of crypto, a fraction of one percent of my total portfolio, but I would fall into the category of being good on wealth - don't need bitcoin exposure.  I don't even buy individual stocks anymore, zero need to gamble on a commodity like crypto.  

 

 

[Cdub100 3,689]

10 minutes ago, Frozenbeernuts said:

When is that date?

The earliest is this Thursday. The latest is the end of the month.

I believe BTC needs to hi 55k & ETH needs to hit 3.5k

I'm starting to get nervous.

[Frozenbeernuts 1,883]

28 minutes ago, Cdub100 said:

The earliest is this Thursday. The latest is the end of the month.

I believe BTC needs to hi 55k & ETH needs to hit 3.5k

I'm starting to get nervous.

Do you get less bitcoin if it goes above that amount?

[Frozenbeernuts 1,883]

30 minutes ago, Horseman said:

Crypto assets or assets in general?

- not insured

- volatile

- threat of government regulation

- security

- payments are irreversible

- transactions are anonymous

I have a very small amount of crypto, a fraction of one percent of my total portfolio, but I would fall into the category of being good on wealth - don't need bitcoin exposure.  I don't even buy individual stocks anymore, zero need to gamble on a commodity like crypto.  

 

 

I separate bitcoin from all other crypto because there is definitely a difference.

If buying bitcoin is gambling then so is all investing, including gold.

What's wrong with not having the government know what I spend my money on? Though bitcoin is only anonymous with non kyc bitcoin 

Bitcoin has never been hacked. If bitcoin can be hacked then all encryption is in danger.

Volatility isn't bad when it's volatile to the upside. Unless you are really old or really poor, bitcoins volatility is a good thing. The average return every single year only bitcoin is over 100%. If you are making an average of over 100%/year on an asset, how is volatility a bad thing?

Yes, payments are irreversible, but that's the price you pay for not letting a bank, who actually owns the rights to your money, tell you what you can or can't spend your money on.

[Cdub100 3,689]

6 minutes ago, Frozenbeernuts said:

Do you get less bitcoin if it goes above that amount?

No I will be made 100% whole which on the surface seems like a good thing. But it's not. I will receive my dollarized claim at the date of chap 11 back in July 2022. BTC was 19k and ETH was 1.1k. So instead of getting a % of my crypto I will be given cash at the rate of when the market was near the bottom. I also lose out on stock options in the New company.

 

[Frozenbeernuts 1,883]

7 minutes ago, Cdub100 said:

No I will be made 100% whole which on the surface seems like a good thing. But it's not. I will receive my dollarized claim at the date of chap 11 back in July 2022. BTC was 19k and ETH was 1.1k. So instead of getting a % of my crypto I will be given cash at the rate of when the market was near the bottom. I also lose out on stock options in the New company.

 

Oh shlt that's brutal. Yeah hopefully it doesn't. I don't think it will be under that by the end of the month unfortunately.

[Horseman 1,987]

28 minutes ago, Frozenbeernuts said:

Volatility isn't bad when it's volatile to the upside. Unless you are really old or really poor, bitcoins volatility is a good thing. The average return every single year only bitcoin is over 100%. If you are making an average of over 100%/year on an asset, how is volatility a bad thing?

I'll just focus on the easy one:

The bold isn't true. In 2018 BTC was down 70% for the year.  For example.

If you're talking about the average per year over it's complete history I'd point you to AMZN and many others.  AMZN beats BTC over it's own history by more than 10 fold.  

If it's neither of those two things above then you are arbitrarily picking your data points.  And past results do not guarantee future results anyway.  Volatility equals risk and with risk comes reward or loss.  You're speculating on what might happen - just read the last two posts between you and Cdub, it's exactly gambling.