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USA
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Posted: 8/29/2024 12:36:25 PM EDT
[Last Edit: Torf]
[#1]
Quote HistoryOriginally Posted By Got_Nukes: How does one consolidate utxos ? I recently used Sparrow to do so. It cost me a total of a buck to slim down a dozen transactions to a single one. Sparrow makes it easy and you can set your own priority. Lower fees are slower to process. Early Sunday mornings is a good time for this. Check mempool.space for current sat/vB costs. |
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Posted: 8/29/2024 2:40:05 PM EDT
[Last Edit: GraboidHunter]
[#2]
If you've ever used Nicehash now would be a good time to get out. Take out any funds and close your account. They are circling the drain (again).
Starting Oct 1 they will begin charging fees for inactive accounts. Yes that's right, if you do not use their service enough they will begin draining your wallets. They also will be charging $10 to add/remove 2FA and for failed KYC. https://www.nicehash.com/support/general-help/service-fees/administrative-costs This is totally illegal and they don't care. It's a move that reeks of desperation. Closed my account today. Go to settings - security - close account. Get out now if you can. EDIT- It appears they have locked out the ability to delete your account now. If you didn't get on it right away you are screwed. |
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Posted: 8/29/2024 3:02:31 PM EDT
[#3]
Quote HistoryOriginally Posted By Sebastian_MacMaine: No, the more UTXOs you move, the bigger the amount of in-block data needed, therefore the bigger the fee. I don't think there are many people who store thousands of BTC in just a few UTXO. Even exchanges have to consolidate from time to time. The simplest 1 UTXO SegWit to non-SegWit (because that's what my exchange used) runs either 110 or 111 vB. Two UTXOs being moved bumps that up to about 170 vB. The amount of BTC stored at those UTXOs is irrelevant; it could be dust or it could be hundreds of BTC. Miners now require a minimum mining fee of 1 sat/vB to forward your unconfirmed transaction around the network to other miners. Any transfer below about 60 sats is basically stuck forever because it will cost more in fees than any miner will demand to process it (unless you luck into some miner that altruistically includes a zero-fee transaction just for funsies). For your 20 UTXOs you're probably looking at around 1200 vB (CHECK WHAT YOUR WALLET SYSTEM SAYS FOR THE SIZE, don't go by my guesstimate), so you can spend 3 sats/vB (3600 sats by my guesstimate) now (which would likely be included in the next block) or hope that something changes to reduce fees in the future. I wouldn't try spending just 2 sats/vB because there are 27MB of transactions at or above that, and the mempool hasn't cleared the 2 sats/vB level since last November. You could try shaving it to 3000 sats (2.5 sats/vB) but if there's another flood of those stupid NFT transactions or if a lot of the existing ones are already at 2.7, you might end up stuck for a looooong time. Seems like every week there's someone on /r/Bitcoin whining that his transaction has been stuck for months and his wallet software refuses to allow him to make a new transaction with those UTXOs. (Some wallets like Electrum will allow RBF -- "replace by fee" -- to overwrite the old one, but I've never used it and don't know how it works, plus you have to turn the option on in the first place; and if you didn't enable that option, you're fucked.) My rule of thumb nowadays is to put together a transaction, check Jochen Hoenicke's site for the current fee rate, immediately select the next highest whole-digit fee, and immediately send it. Otherwise you never know when someone will spam the network with a hundred thousand transactions and drive fees into the stratosphere. I sent some money to someone in Ukraine a couple of years ago, and exactly as I sent it, the mempool blew up. Apparently some exchange decided to consolidate its UTXOs right fucking then. Luckily it cleared in a week, but that was before the NFT stupidity found a way to fuck up the Bitcoin network. https://jochen-hoenicke.de/queue/#BTC,1y,weight https://jochen-hoenicke.de/queue/#BTC,2h,weight 
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Posted: 8/30/2024 8:26:34 PM EDT
[Last Edit: Nosler180]
[#4]
Quote HistoryOriginally Posted By GraboidHunter: If you've ever used Nicehash now would be a good time to get out. Take out any funds and close your account. They are circling the drain (again). Starting Oct 1 they will begin charging fees for inactive accounts. Yes that's right, if you do not use their service enough they will begin draining your wallets. They also will be charging $10 to add/remove 2FA and for failed KYC. https://www.nicehash.com/support/general-help/service-fees/administrative-costs This is totally illegal and they don't care. It's a move that reeks of desperation. Closed my account today. Go to settings - security - close account. Get out now if you can. EDIT- It appears they have locked out the ability to delete your account now. If you didn't get on it right away you are screwed. I just closed my account, it was under the security tab. |
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Posted: 8/31/2024 4:58:18 PM EDT
[#5]
One note on consolidating UTXO, if you've got anything that isn't just straight up BTC in the wallet, make sure you're doing it in a way that doesn't spend your BRC-20/Runes/Ordinals/etc as plain old sats.
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Posted: 9/3/2024 11:28:01 PM EDT
[#6]
Barf
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Posted: 9/5/2024 8:19:40 AM EDT
[#7]
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USA
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Posted: 9/5/2024 5:40:56 PM EDT
[Last Edit: Jagrmaister]
[#8]
What an absolute fucking pile of shit. When you zoom in...
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Posted: 9/5/2024 7:29:36 PM EDT
[#9]
Rough fo sho.
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TX, USA
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Posted: 9/5/2024 7:32:37 PM EDT
[#10]
Hopefully nobody bought that shit in the 70k range.
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Posted: 9/5/2024 7:46:48 PM EDT
[#11]
Quote HistoryOriginally Posted By heat762: Hopefully nobody bought that shit in the 70k range. Hell no. |
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USA
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Posted: 9/5/2024 8:04:49 PM EDT
[#12]
Quote HistoryOriginally Posted By heat762: Hopefully nobody bought that shit in the 70k range. Always buying. Even at $70k. |
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Posted: 9/5/2024 8:17:46 PM EDT
[Last Edit: Enzo300]
[#13]
Quote HistoryOriginally Posted By Enzo300: Current support is at 55845. If it cracks that, somewhere around 50,740 is the next floor. I said this on 8/4. On 8/5 BTC cracked it and went as low as 49,608. Closed that day at 54k, current support. Support is now 54,000 on the daily candles. If it cracks that, 50,720 is the next floor.  Attached File |
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USA
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Posted: 9/5/2024 8:39:44 PM EDT
[#14]
Quote HistoryOriginally Posted By Enzo300: I said this on 8/4. On 8/5 BTC cracked it and went as low as 49,608. Closed that day at 54k, current support. Support is now 54,000 on the daily candles. If it cracks that, 50,720 is the next floor. https://www.ar15.com/media/mediaFiles/461570/btc090524_png-3314329.JPG when is this shit going to get to $125k? legolas what do your elf eyes see? |
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Posted: 9/5/2024 9:26:46 PM EDT
[Last Edit: STJ]
[#15]
It's not independent anymore.
 I just follows the Stock Market... 
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Posted: 9/6/2024 8:11:24 AM EDT
[Last Edit: Brahmzy]
[#16]
ETFs have done no favors…
Some are saying the 4 year cycle, as we know it, is dead. |
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Posted: 9/6/2024 8:22:17 AM EDT
[#17]
Another fucking disaster with the market futures this morning.
Tuesday, Wednesday Thursday, Friday Not Happy Days, just fucked days. And today the job report comes out around 830. 
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Posted: 9/6/2024 8:24:39 AM EDT
[#18]
Quote HistoryOriginally Posted By heat762: Hopefully nobody bought that shit in the 70k range. What difference would it make even if they did? As always, Bitcoin is either going to $0 or a whole lot more than $70k. Anyone who is in this with aspirations to make 10%-20% is assuming WAY too much risk for that kind of return. The only reason to speculate on cryptocurrency is the idea that the halving driven cycles will continue. If you are sweating the difference between $70k and $56k, you are in the wrong asset class entirely. |
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Posted: 9/6/2024 8:25:16 AM EDT
[#19]
Quote HistoryOriginally Posted By STJ: It just follows the Stock Market... This thought has occurred to me multiple times in the last few months. |
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Posted: 9/6/2024 8:29:47 AM EDT
[#20]
Quote HistoryOriginally Posted By Brahmzy: ETFs have done no favors… Some are saying the 4 year cycle, as we know it, is dead. I don't know how anyone could possibly know that at this point. I'd probably take a solid year to get far enough out from the current halving to even suspect that this cycle was a dud or not. In the 2020 cycle, it took us 31 weeks after halving before we even sniffed the prior all time high. We are 20 weeks post halving in the current cycle and currently wading through one of the most bearish months historically for Bitcoin and with pre-recessionary macro conditions looming over everything. |
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Posted: 9/6/2024 8:30:02 AM EDT
[#21]
Quote HistoryOriginally Posted By woodsie: What difference would it make even if they did? As always, Bitcoin is either going to $0 or a whole lot more than $70k. Anyone who is in this with aspirations to make 10%-20% is assuming WAY too much risk for that kind of return. The only reason to speculate on cryptocurrency is the idea that the halving driven cycles will continue. If you are sweating the difference between $70k and $56k, you are in the wrong asset class entirely. Quote HistoryOriginally Posted By woodsie: Originally Posted By heat762: Hopefully nobody bought that shit in the 70k range. What difference would it make even if they did? As always, Bitcoin is either going to $0 or a whole lot more than $70k. Anyone who is in this with aspirations to make 10%-20% is assuming WAY too much risk for that kind of return. The only reason to speculate on cryptocurrency is the idea that the halving driven cycles will continue. If you are sweating the difference between $70k and $56k, you are in the wrong asset class entirely. 
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NE, USA
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Posted: 9/6/2024 8:32:24 AM EDT
[#22]
Quote HistoryOriginally Posted By woodsie: What difference would it make even if they did? As always, Bitcoin is either going to $0 or a whole lot more than $70k. Anyone who is in this with aspirations to make 10%-20% is assuming WAY too much risk for that kind of return. The only reason to speculate on cryptocurrency is the idea that the halving driven cycles will continue. If you are sweating the difference between $70k and $56k, you are in the wrong asset class entirely. It matters because of timeframe. Sure if you can be invested when it hits eleventybillion in Jan 2097 then it makes no difference. But quite literally EVERYONE has a timeframe involved, even you (it's called death). So yes, it matters. For some the timeframe is 10 years from now, for others 7 for others 16 and on and on. So to say it "doesn't matter" is almost as ridiculous as those people that say "hurrdurr, well it is up a bazillion percent from December 2003" which means nothing if you are invested from December 2023. ALL investments have a timeframe base. To cherry pick a specific timeframe to fit your narrative and justify your thesis to others is beyond stupid, it is morally dishonest. |
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Posted: 9/6/2024 8:34:06 AM EDT
[#23]
Quote HistoryOriginally Posted By Morgan321: This thought has occurred to me multiple times in the last few months. Quote HistoryOriginally Posted By Morgan321: Originally Posted By STJ: It just follows the Stock Market... This thought has occurred to me multiple times in the last few months. It's not following the stock market. It's following the same things that the stock market is following. The distinction is important. Bitcoin has been a bet on monetary policy and fiscal policy since Day 1. If you believe that in the long run that inflation will continue and the government will continue to grow in size, then you are in the right place. |
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Posted: 9/6/2024 8:44:53 AM EDT
[Last Edit: woodsie]
[#24]
Quote HistoryOriginally Posted By tooldforthis: It matters because of timeframe. Sure if you can be invested when it hits eleventybillion in Jan 2097 then it makes no difference. But quite literally EVERYONE has a timeframe involved, even you (it's called death). So yes, it matters. For some the timeframe is 10 years from now, for others 7 for others 16 and on and on. So to say it "doesn't matter" is almost as ridiculous as those people that say "hurrdurr, well it is up a bazillion percent from December 2003" which means nothing if you are invested from December 2023. ALL investments have a timeframe base. To cherry pick a specific timeframe to fit your narrative and justify your thesis to others is beyond stupid, it is morally dishonest. Quote HistoryOriginally Posted By tooldforthis: Originally Posted By woodsie: What difference would it make even if they did? As always, Bitcoin is either going to $0 or a whole lot more than $70k. Anyone who is in this with aspirations to make 10%-20% is assuming WAY too much risk for that kind of return. The only reason to speculate on cryptocurrency is the idea that the halving driven cycles will continue. If you are sweating the difference between $70k and $56k, you are in the wrong asset class entirely. It matters because of timeframe. Sure if you can be invested when it hits eleventybillion in Jan 2097 then it makes no difference. But quite literally EVERYONE has a timeframe involved, even you (it's called death). So yes, it matters. For some the timeframe is 10 years from now, for others 7 for others 16 and on and on. So to say it "doesn't matter" is almost as ridiculous as those people that say "hurrdurr, well it is up a bazillion percent from December 2003" which means nothing if you are invested from December 2023. ALL investments have a timeframe base. To cherry pick a specific timeframe to fit your narrative and justify your thesis to others is beyond stupid, it is morally dishonest. The timeframe base for Bitcoin has been the 4 year cycle at a minimum. We've been running on that theory for more than a decade. It's not a cherry picked time frame. It's based on the very mechanism built into the software that we speculated would drive Bitcoin prices higher right from the very beginning. You can go back into old Bitcoin threads and find discussion on this long before we even had the first halving event or were able to observe a price history that confirmed that there was a roughly 4 year tempo to Bitcoin bull markets. I've been very consistent in this argument for more than a decade right here on this very forum and I've been proven right several times. My "beyond stupid" and "morally dishonest" argument has been proven correct all the way from $200 to $56,000. I don't know what else I can do to satisfy people like you. |
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Posted: 9/6/2024 8:45:56 AM EDT
[#25]
Quote HistoryOriginally Posted By tooldforthis: It matters because of timeframe. Sure if you can be invested when it hits eleventybillion in Jan 2097 then it makes no difference. But quite literally EVERYONE has a timeframe involved, even you (it's called death). So yes, it matters. For some the timeframe is 10 years from now, for others 7 for others 16 and on and on. So to say it "doesn't matter" is almost as ridiculous as those people that say "hurrdurr, well it is up a bazillion percent from December 2003" which means nothing if you are invested from December 2023. ALL investments have a timeframe base. To cherry pick a specific timeframe to fit your narrative and justify your thesis to others is beyond stupid, it is morally dishonest. That's included in his rationale as it's simply another form of risk. If you have such a specific time horizon to grow value within, it's the wrong asset class. |
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Posted: 9/6/2024 8:47:51 AM EDT
[#26]
Quote HistoryOriginally Posted By Kuraki: That's included in his rationale as it's simply another form of risk. If you have such a specific time horizon to grow value within, it's the wrong asset class. Quote HistoryOriginally Posted By Kuraki: Originally Posted By tooldforthis: It matters because of timeframe. Sure if you can be invested when it hits eleventybillion in Jan 2097 then it makes no difference. But quite literally EVERYONE has a timeframe involved, even you (it's called death). So yes, it matters. For some the timeframe is 10 years from now, for others 7 for others 16 and on and on. So to say it "doesn't matter" is almost as ridiculous as those people that say "hurrdurr, well it is up a bazillion percent from December 2003" which means nothing if you are invested from December 2023. ALL investments have a timeframe base. To cherry pick a specific timeframe to fit your narrative and justify your thesis to others is beyond stupid, it is morally dishonest. That's included in his rationale as it's simply another form of risk. If you have such a specific time horizon to grow value within, it's the wrong asset class. I've argued for years that Bitcoin isn't the right place to be if you've only got a couple months to a couple years. I was telling people in this very thread back in 2021 who were buying between $50k-$60k near the last peak that it could be a LONG wait for them to see the kinds of returns they were hoping for as the cycle was already getting long in the tooth at that point. Go back like a couple hundred pages and you'll find those posts. |
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Posted: 9/6/2024 8:48:24 AM EDT
[Last Edit: Brahmzy]
[#27]
Have fun with G&S. You’ll need about a 50yr timeline for anything meaningful out of PMs.
“Gold is ATH!” Yeah, it’s one of the slowest risers out there. I’ll be dead at that rate, and I’m in my 40’s. Silver? It’s sucking. Not inflation hedges. |
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USA
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Posted: 9/6/2024 9:41:48 AM EDT
[Last Edit: Jagrmaister]
[#28]
Basically, you could've set a DCA on autopilot 3 years ago during the last cycle high in 2021 and rode it to now and you'd still be +100%USDor more on your stack. The blips and the beeps start to not matter as much.
Or 4 years ago per "cycle" and same result. This is not a cherry pick but you could've bought at $70k so many days and two entirely different peak years and you'd still be winning with this "crater" to $55k. I had a property for almost 20 years that sold for the same money I bought it for years ago. Think about that lost purchasing power in that transaction. Sure, there was benefits and merits in its rental and tax implications at the time, but in the end I ate absolute shit. Waiting for Bitcoin to make a move will be an absolute breeze compared to the 15-20 years holding that land. I'm purchasing 100 years of time, production, and energy for pennies on the Dollar. I bought a bunch at $70k. And I'll do it again. |
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Posted: 9/6/2024 9:46:25 AM EDT
[#29]
Gold and silver are worth the same as ever. US dollar is worth less every day.
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Posted: 9/6/2024 9:54:39 AM EDT
[#30]
Quote HistoryOriginally Posted By dirtyboy: Gold and silver are worth the same as ever. US dollar is worth less every day. And that's what it's good for. I don't hate on gold and silver at all, I just think people need to understand what those kinds of assets are designed to do just like stocks, bonds, and anything else. The big difference between Bitcoin and Gold is that Gold is a mature asset whereas Bitcoin is still in the phase where speculators are building out the market for it. At some point, Bitcoin will be as boring as gold. I don't think it's this cycle and maybe not the next one but I don't think it's far off either at this point. |
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TX, USA
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Posted: 9/6/2024 9:57:08 AM EDT
[#31]
Dollar Cost Averaging is for suckers and the lazy. It was invented by sell side brokers so they can get paid no matter if the thing they are selling is up or down.
If you weren't so lazy you could use this thing called math and charts to buy the troughs rather than the peaks and outperform....but its easier to DCA....good effing luck. |
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OH, USA
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Posted: 9/6/2024 10:00:36 AM EDT
[Last Edit: Ender875]
[#32]
Quote HistoryOriginally Posted By heat762: Hopefully nobody bought that shit in the 70k range. I bought in above that. At the time 1/2 my stack was around $40, then 1/2 was around $72. Im sitting at around $59 average now. Still buying every other week. ETA I agree with all the other posts, well except for the one above me! DCA works with stocks and works with BTC |
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TX, USA
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Posted: 9/6/2024 10:15:19 AM EDT
[#33]
So how long until BTC hits a new high?
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Posted: 9/6/2024 10:19:20 AM EDT
[#34]
Regarding the "risk" of bitcoin - investment risk is generally defined by volatility. ie. an investment with a highly volatile price means a bigger chance that you'll be in the red at any given time. Factor this with historical growth and you have the basics of financial planning for a finite timeline.
Here is a good article on the volatility of bitcoin. Similar to individual stocks, bitcoin is a poor investment if you have a fixed and/or short investment horizon. That volatility can be extremely powerful (in the good direction) when used as part of an overall financial plan - you need low volatility investments to give you the flexibility to hold the higher volatility (and higher return) investments until selling is attractive. You never want to be in the position of being forced to sell a highly volatile investment because you might be deep into the red on it.  Attached File |
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Posted: 9/6/2024 10:21:17 AM EDT
[#35]
Quote HistoryOriginally Posted By CapedCrusader: So how long until BTC hits a new high? In the absence of a looming recession, I would say October or November. October is traditionally the most bullish month for Bitcoin. It is legitimately rare when Bitcoin has a losing October and even when it is it's never been particularly bad.  Attached FileIn the presence of a looming recession, I'd be more inclined to say sometime in 2025 after the government's response to said recession kicks in. I guess that depends on how soon that party gets kicked off. |
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Posted: 9/6/2024 10:42:02 AM EDT
[#36]
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TX, USA
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Posted: 9/6/2024 10:42:21 AM EDT
[#37]
Quote HistoryOriginally Posted By woodsie: In the absence of a looming recession, I would say October or November. October is traditionally the most bullish month for Bitcoin. It is legitimately rare when Bitcoin has a losing October and even when it is it's never been particularly bad. https://www.ar15.com/media/mediaFiles/178958/Capture_jpg-3314714.JPG In the presence of a looming recession, I'd be more inclined to say sometime in 2025 after the government's response to said recession kicks in. I guess that depends on how soon that party gets kicked off. Quote HistoryOriginally Posted By woodsie: Originally Posted By CapedCrusader: So how long until BTC hits a new high? In the absence of a looming recession, I would say October or November. October is traditionally the most bullish month for Bitcoin. It is legitimately rare when Bitcoin has a losing October and even when it is it's never been particularly bad. https://www.ar15.com/media/mediaFiles/178958/Capture_jpg-3314714.JPG In the presence of a looming recession, I'd be more inclined to say sometime in 2025 after the government's response to said recession kicks in. I guess that depends on how soon that party gets kicked off. Thanks! |
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Posted: 9/6/2024 11:04:02 AM EDT
[#38]
Quote HistoryOriginally Posted By Morgan321: I like pretty pictures, I circled the months for the previous three halvings. https://www.ar15.com/media/mediaFiles/335009/InkedCapture_jpg-3314714_LI_jpg-3314720.JPG I don't think halving events can really be evaluated in the month in which they occur but rather the subsequent 12 months. The "time until peak" after halving has ranged from 52 weeks to 78 weeks over the last three halving cycles. By the end of 2025, cycle theory either holds up or it doesn't. I suppose there will eventually be some epoch were it doesn't, either because macro conditions overshadow everything or simply because the halving phenomenon becomes less and less meaningful over time as the size of block rewards as a percentage of total supply goes down over time.  Attached File |
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Posted: 9/6/2024 11:11:42 AM EDT
[#39]
woodsie bringin' the hopium.
I'm here, hoping for a good October/November. We'll find out shortly. |
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TX, USA
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Posted: 9/6/2024 11:14:05 AM EDT
[#40]
https://www.hope.com/
hope is not a risk management plan I recommend prayer |
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Posted: 9/6/2024 11:17:39 AM EDT
[#41]
Quote HistoryOriginally Posted By Brahmzy: woodsie bringin' the hopium. I'm here, hoping for a good October/November. We'll find out shortly. I hope you aren't missing the parts where I keep repeating concerns about macro conditions over shadowing everything. I'm very worried about a recession in the near term. We've got to get THROUGH that to get to the other side where the bet on the government response pays off. There is nothing to say that we don't drop 50% before we get to the other side. I guess it all depends on whether you buy into the theory of a soft landing for the economy or not. |
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Posted: 9/6/2024 11:24:12 AM EDT
[#42]
It's an awkward time for Bitcoin.
On one hand you've got this great setup for a bull market in terms of new onramps being in place with the ETFs, growing acceptance among institutional investors, states and even nations starting to build positions in Bitcoin, and ideal timing from cycle perspective. On the other hand, you've got a business cycle which looks like it's about to wrap up, unemployment turning higher, and an increasing likelihood of recession which no matter what would decrease demand for any kind of risk asset including Bitcoin. My gut feeling is that things get worse before they get better but I'm not going to trade on that. |
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USA
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Posted: 9/6/2024 11:37:18 AM EDT
[#43]
Quote HistoryOriginally Posted By heat762: Dollar Cost Averaging is for suckers and the lazy. It was invented by sell side brokers so they can get paid no matter if the thing they are selling is up or down. If you weren't so lazy you could use this thing called math and charts to buy the troughs rather than the peaks and outperform....but its easier to DCA....good effing luck. Please show me the amount of BTC you've amassed. |
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USA
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Posted: 9/6/2024 1:07:54 PM EDT
[#44]
Quote HistoryOriginally Posted By heat762: https://www.hope.com/ hope is not a risk management plan I recommend prayer If you don't like BTC don't buy any. See how easy that was? 
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TX, USA
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Posted: 9/6/2024 1:41:57 PM EDT
[#45]
Quote HistoryOriginally Posted By Jagrmaister: Please show me the amount of BTC you've amassed. Quote HistoryOriginally Posted By Jagrmaister: Originally Posted By heat762: Dollar Cost Averaging is for suckers and the lazy. It was invented by sell side brokers so they can get paid no matter if the thing they are selling is up or down. If you weren't so lazy you could use this thing called math and charts to buy the troughs rather than the peaks and outperform....but its easier to DCA....good effing luck. Please show me the amount of BTC you've amassed. Dont "own" any and never will. Have made a shit load of money going up and down playing BITO/BITI using hedgeye risk ranges and crypto tracker. I don't buy and hold...as said before...its for suckers. |
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TX, USA
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Posted: 9/6/2024 1:45:14 PM EDT
[#46]
Quote HistoryOriginally Posted By woodsie: It's an awkward time for Bitcoin. On one hand you've got this great setup for a bull market in terms of new onramps being in place with the ETFs, growing acceptance among institutional investors, states and even nations starting to build positions in Bitcoin, and ideal timing from cycle perspective. On the other hand, you've got a business cycle which looks like it's about to wrap up, unemployment turning higher, and an increasing likelihood of recession which no matter what would decrease demand for any kind of risk asset including Bitcoin. My gut feeling is that things get worse before they get better but I'm not going to trade on that. Talk about awkward!!!! Its hope, it fixes everything, its gods gift to currencies......lol. Yall couldn't wait for that shit to be accepted (ETF.S, ETC.) and now that it has, guess what....its controlled and manipulated. Here we are on the precipice of a global economic slowdown and its not performing as promised. |
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USA
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Posted: 9/6/2024 1:58:59 PM EDT
[#47]
Quote HistoryOriginally Posted By heat762: Dont "own" any and never will. Have made a shit load of money going up and down playing BITO/BITI using hedgeye risk ranges and crypto tracker. I don't buy and hold...as said before...its for suckers. Quote HistoryOriginally Posted By heat762: Originally Posted By Jagrmaister: Originally Posted By heat762: Dollar Cost Averaging is for suckers and the lazy. It was invented by sell side brokers so they can get paid no matter if the thing they are selling is up or down. If you weren't so lazy you could use this thing called math and charts to buy the troughs rather than the peaks and outperform....but its easier to DCA....good effing luck. Please show me the amount of BTC you've amassed. Dont "own" any and never will. Have made a shit load of money going up and down playing BITO/BITI using hedgeye risk ranges and crypto tracker. I don't buy and hold...as said before...its for suckers. Then why are you in this thread? |
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Posted: 9/6/2024 3:38:13 PM EDT
[#48]
Quote HistoryOriginally Posted By Trunalimunumaprzure: Then why are you in this thread? Quote HistoryOriginally Posted By Trunalimunumaprzure: Originally Posted By heat762: Originally Posted By Jagrmaister: Originally Posted By heat762: Dollar Cost Averaging is for suckers and the lazy. It was invented by sell side brokers so they can get paid no matter if the thing they are selling is up or down. If you weren't so lazy you could use this thing called math and charts to buy the troughs rather than the peaks and outperform....but its easier to DCA....good effing luck. Please show me the amount of BTC you've amassed. Dont "own" any and never will. Have made a shit load of money going up and down playing BITO/BITI using hedgeye risk ranges and crypto tracker. I don't buy and hold...as said before...its for suckers. Then why are you in this thread? He's not any more. |
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Posted: 9/6/2024 4:10:41 PM EDT
[#49]
Quote HistoryOriginally Posted By woodsie: I don't think halving events can really be evaluated in the month in which they occur but rather the subsequent 12 months. It would be an interesting read if somebody put together all the bitcoin economic info into one history. Like, who is selling/buying (by wallet size - when are the miners and whales buying/selling and when are the little guys buying/selling), what the media is saying about bitcoin, what the broader economic conditions were, etc. all as a function of time. I wonder if that wouldn't be a good tool to predict the short-term future price of bitcoin. |
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Posted: 9/6/2024 5:11:16 PM EDT
[#50]
This.
I’ve DCA’d bitcoin every single day since early 2021 and have beat 99% of traditional investment products. I’m still 10 years out from considering to use it for anything. Let’s see where this ride takes us. Quote HistoryOriginally Posted By Jagrmaister: Basically, you could've set a DCA on autopilot 3 years ago during the last cycle high in 2021 and rode it to now and you'd still be +100%USDor more on your stack. The blips and the beeps start to not matter as much. Or 4 years ago per "cycle" and same result. This is not a cherry pick but you could've bought at $70k so many days and two entirely different peak years and you'd still be winning with this "crater" to $55k. I had a property for almost 20 years that sold for the same money I bought it for years ago. Think about that lost purchasing power in that transaction. Sure, there was benefits and merits in its rental and tax implications at the time, but in the end I ate absolute shit. Waiting for Bitcoin to make a move will be an absolute breeze compared to the 15-20 years holding that land. I'm purchasing 100 years of time, production, and energy for pennies on the Dollar. I bought a bunch at $70k. And I'll do it again. |
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