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Posted: 11/18/2022 3:40:34 PM EDT
[#1]
Quote HistoryOriginally Posted By ARandomClaymore: @SERVED_USMC Whichever is supported on Coinbase when I purchased them. I tried looking on CB and it doesn't state. My guess would be ERC20. Ellipal states it supports ALL ERC20 Tokens on the Titan Wallet. I believe CB automatically merged them but your wallet may still have a polygon option. I know my ledger did but after and update it automatically put them to ETH chain |
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Posted: 11/18/2022 6:09:05 PM EDT
[Last Edit: Enzo300]
[#2]
Tag. First time BTC owner. I just can't sit in cash, bought some GBTC because Cathy Woods and that 42% discount to NAV
 Let's Goooooo!  ETA: In on 420, and for the learnin. |
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TX, USA
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Posted: 11/18/2022 6:47:12 PM EDT
[#3]
Quote HistoryOriginally Posted By SERVED_USMC: I believe CB automatically merged them but your wallet may still have a polygon option. I know my ledger did but after and update it automatically put them to ETH chain Quote HistoryOriginally Posted By SERVED_USMC: Originally Posted By ARandomClaymore: @SERVED_USMC Whichever is supported on Coinbase when I purchased them. I tried looking on CB and it doesn't state. My guess would be ERC20. Ellipal states it supports ALL ERC20 Tokens on the Titan Wallet. I believe CB automatically merged them but your wallet may still have a polygon option. I know my ledger did but after and update it automatically put them to ETH chain I'm trying to find out within CB more information if they did merge them before contacting customer support. It's a small bag (couple hundred or so), but it's still a bag none-the-less. |
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Posted: 11/18/2022 7:32:11 PM EDT
[#4]
Quote HistoryOriginally Posted By ARandomClaymore: I'm trying to find out within CB more information if they did merge them before contacting customer support. It's a small bag (couple hundred or so), but it's still a bag none-the-less. Double check the address you sent it to and see which chain. If you sent to ERC20 than it may be a software issue with the wallet like I had with my ledger |
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Posted: 11/18/2022 11:56:48 PM EDT
[#5]
Quote HistoryOriginally Posted By Enzo300: Tag. First time BTC owner. I just can't sit in cash, bought some GBTC because Cathy Woods and that 42% discount to NAV Let's Goooooo! ETA: In on 420, and for the learnin. First suggested lesson: Buy Actual BTC. Put it in a hardware wallet and save the keys. Paper BTC can vanish with someone’s bad day. *Not financial advice. Do your own research.* |
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PW, USA
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Posted: 11/19/2022 5:24:28 PM EDT
[#6]
Quote HistoryOriginally Posted By woodsie: It's not, that guy was a legend and it never sucks to take a profit. I'd bet dollars to donuts he didn't cash out everything. As I recall it, he was a crypto "true believer" type so it wouldn't shock me in the slightest if he hung on to something. Agreed. Or bought the dip with a portion if he did indeed initially sell off 100%. He had several years to DCA back in for well under what he sold for. Guys like that are not likely to be a one and done and rest on their laurels. :max_bytes(150000):strip_icc()/bitcoins-price-history-Final-7784bc87a49340b588220b5a7d1733ad.jpg)
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HI, USA
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Posted: 11/19/2022 8:12:05 PM EDT
[#7]
Quote HistoryOriginally Posted By 1975: The Five Wildest Things in the FTX Bankruptcy Filing 1. FTX lent billions of dollars in customer funds to Bankman-Fried’s hedge fund, Alameda Research. 2. FTX corporate funds were used to buy homes and “personal items” for executives. 3. Expenses were approved by emoji. 4. FTX's auditing firm Prager-Metis lived in the metaverse (Decentraland). 5. Most digital assets “owned” by FTX were not secured. I expect a lot of ink will be spilled writing similar things about Michael Saylor after all is said and done. His use of microstrategy as a piggy bank is a giant red flag that can be seen from space. Who the hell would want to buy their stock, instead of just bitcon directly? Makes little sense. And of course the companies helping him market the shares are scammy crypto companies as well from what I recall. Oh well, people will have to learn the hard way I guess. Cant think of a single person in the crypto space that is trustworthy and actually knows their stuff. Just hucksters that arent all that different from tv evangelists. |
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Posted: 11/20/2022 7:08:06 PM EDT
[#8]
Wash sale time yet?
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Posted: 11/20/2022 11:20:06 PM EDT
[Last Edit: Brahmzy]
[#9]
Something happening this week? Rate hike? Inflation report?
If BTCs in the 15s, the futures have to be pretty bad.. |
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USA
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Posted: 11/20/2022 11:24:00 PM EDT
[#10]
Quote HistoryOriginally Posted By Brahmzy: Something happening this week? Rate hike? Inflation report? If BTCs in the 15s, the futures have to be pretty bad.. Biden says he’s going to regulate crypto. |
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USA
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Posted: 11/20/2022 11:27:00 PM EDT
[#11]
Greyscale is probably going to fail too.
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Posted: 11/21/2022 10:37:39 AM EDT
[#12]
Quote HistoryOriginally Posted By dog-meat: Greyscale is probably going to fail too. Why do you say that? You don't think they have the BTC to back the trust? |
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Posted: 11/21/2022 12:09:32 PM EDT
[#13]
Quote HistoryOriginally Posted By captainpooby: Why do you say that? You don't think they have the BTC to back the trust? Well they are owned by the same parent company as Genesis which isn't doing hot right now, and the current rumor mill is that there were some undisclosed debts and promises between all the companies that might be getting called upon. The speculation is that if Genesis does go down, it will take everything related to it down with it. |
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ARG
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Posted: 11/21/2022 12:12:18 PM EDT
[Last Edit: Accountant30339]
[#14]
Quote HistoryOriginally Posted By dog-meat: Greyscale is probably going to fail too. GBTC will be fine. If not, it would be a scandal for the ages and I would be immensely disappointed in my fellow CPA's at the audit firm. I'm still buying. Love that discount!  Accountant |
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Posted: 11/21/2022 12:16:21 PM EDT
[Last Edit: Enzo300]
[#15]
Quote HistoryOriginally Posted By Ayada: Well they are owned by the same parent company as Genesis which isn't doing hot right now, and the current rumor mill is that there were some undisclosed debts and promises between all the companies that might be getting called upon. The speculation is that if Genesis does go down, it will take everything related to it down with it. There are a LOT of rumors in crypto right now. I'd have a hard time believing that Wood would add her most recent purchases if she had any doubt about the security of the assets involved. As far as Grayscale, that fund generates hundreds of millions in profit at 2% of NAV annual fees. That makes the fund itself valuable, and could be sold to another entity like Fidelity to raise cash. It would be worth many multiples of those annual fees to a fund company. The other hypothetical is that they dissolve the fund. Selling off the underlying BTC would definitely put a hit on BTC prices, but at the current discount to NAV, BTC would have to fall below $9K for fund holders to not receive at least current value. |
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Posted: 11/21/2022 4:13:08 PM EDT
[#16]
I am not looking forward to the family gloating about "BitCON" at Thanksgiving dinner. Ugh...
What a shit year and well beyond Bitcoin. Oh well. Here's to 2023.
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USA
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Posted: 11/21/2022 4:24:40 PM EDT
[#17]
Quote HistoryOriginally Posted By Jagrmaister: I am not looking forward to the family gloating about "BitCON" at Thanksgiving dinner. Ugh... What a shit year and well beyond Bitcoin. Oh well. Here's to 2023. I would ask what their investment secrets are because obviously they are killing it in the market, right? Right?
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Posted: 11/21/2022 4:33:05 PM EDT
[#18]
Quote HistoryOriginally Posted By Trunalimunumaprzure: I would ask what their investment secrets are because obviously they are killing it in the market, right? Right? Quote HistoryOriginally Posted By Trunalimunumaprzure: Originally Posted By Jagrmaister: I am not looking forward to the family gloating about "BitCON" at Thanksgiving dinner. Ugh... What a shit year and well beyond Bitcoin. Oh well. Here's to 2023. I would ask what their investment secrets are because obviously they are killing it in the market, right? Right? This happened in 2018, too. For some reason, the family likes to gloat at any misfortune, especially in relation to Bitcoin. |
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NE, USA
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Posted: 11/21/2022 4:41:54 PM EDT
[#19]
Quote HistoryOriginally Posted By Trunalimunumaprzure: I would ask what their investment secrets are because obviously they are killing it in the market, right? Right? not that complex ever hear of shorting things seems to have worked rather well this year |
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Posted: 11/21/2022 4:42:40 PM EDT
[#20]
Ledger has a black Friday sale going on right now, $20-30 in free btc with purchase.
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Posted: 11/21/2022 4:52:39 PM EDT
[#21]
Trezor just started a 30% off sale too.
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USA
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Posted: 11/21/2022 5:00:21 PM EDT
[#22]
Quote HistoryOriginally Posted By tooldforthis: not that complex ever hear of shorting things seems to have worked rather well this year Quote HistoryOriginally Posted By tooldforthis: Originally Posted By Trunalimunumaprzure: I would ask what their investment secrets are because obviously they are killing it in the market, right? Right? not that complex ever hear of shorting things seems to have worked rather well this year Post up screenshots of your portfolio then. Show us all how easy it is. |
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Posted: 11/21/2022 5:41:02 PM EDT
[Last Edit: Enzo300]
[#23]
Quote HistoryOriginally Posted By Trunalimunumaprzure: Post up screenshots of your portfolio then. Show us all how easy it is. Quote HistoryOriginally Posted By Trunalimunumaprzure: Originally Posted By tooldforthis: Originally Posted By Trunalimunumaprzure: I would ask what their investment secrets are because obviously they are killing it in the market, right? Right? not that complex ever hear of shorting things seems to have worked rather well this year Post up screenshots of your portfolio then. Show us all how easy it is. I don't short or play options at all. Strictly long equity swing trades. Moving in and out of various PM and AG equities and Uranium stocks, I stand up 19% for the year. I'm currently about 80% cash, so those are mostly realized gains. It's doable without shorting, just playing the volatility.  Attached File |
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USA
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Posted: 11/21/2022 5:46:46 PM EDT
[#24]
Quote HistoryOriginally Posted By Enzo300: I don't short or play options at all. Strictly long equity swing trades. Moving in and out of various PM equities and Uranium stocks, I stand up 19% for the year. I'm currently about 80% cash, so those are mostly realized gains. It's doable. https://www.ar15.com/media/mediaFiles/461570/ytd_PNG-2609201.JPG Quote HistoryOriginally Posted By Enzo300: Originally Posted By Trunalimunumaprzure: Originally Posted By tooldforthis: Originally Posted By Trunalimunumaprzure: I would ask what their investment secrets are because obviously they are killing it in the market, right? Right? not that complex ever hear of shorting things seems to have worked rather well this year Post up screenshots of your portfolio then. Show us all how easy it is. I don't short or play options at all. Strictly long equity swing trades. Moving in and out of various PM equities and Uranium stocks, I stand up 19% for the year. I'm currently about 80% cash, so those are mostly realized gains. It's doable. https://www.ar15.com/media/mediaFiles/461570/ytd_PNG-2609201.JPG How is the rest of your portfolio doing? Or is that brokerage account your only suite of investments? |
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Posted: 11/21/2022 5:55:01 PM EDT
[#25]
Quote HistoryOriginally Posted By Trunalimunumaprzure: How is the rest of your portfolio doing? Or is that brokerage account your only suite of investments? I'm more conservative with my IRA-SEP brokerage acct., it's up 8% ytd. It's a mirror otherwise of the personal account, but things like this GBTC leap of faith I only do with my personal account. Otherwise, real estate etc. All doing fine. It's been a full time job staying on top of everything though. |
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USA
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Posted: 11/21/2022 6:07:36 PM EDT
[#26]
Quote HistoryOriginally Posted By Enzo300: I'm more conservative with my IRA-SEP brokerage acct., it's up 8% ytd. It's a mirror otherwise of the personal account, but things like this GBTC leap of faith I only do with my personal account. Otherwise, real estate etc. All doing fine. It's been a full time job staying on top of everything though. Quote HistoryOriginally Posted By Enzo300: Originally Posted By Trunalimunumaprzure: How is the rest of your portfolio doing? Or is that brokerage account your only suite of investments? I'm more conservative with my IRA-SEP brokerage acct., it's up 8% ytd. It's a mirror otherwise of the personal account, but things like this GBTC leap of faith I only do with my personal account. Otherwise, real estate etc. All doing fine. It's been a full time job staying on top of everything though. Congrats. I would bet the vast majority of people who gloat about other peoples "mis-investments" are taking a bath along with the rest of us though. My crypto is about the only thing I'm doing okay on, heavily investing in traditional stocks 2019-2021 to "diversify" hasn't been kind. |
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Posted: 11/21/2022 6:29:37 PM EDT
[#27]
Quote HistoryOriginally Posted By Trunalimunumaprzure: Congrats. I would bet the vast majority of people who gloat about other peoples "mis-investments" are taking a bath along with the rest of us though. My crypto is about the only thing I'm doing okay on, heavily investing in traditional stocks 2019-2021 to "diversify" hasn't been kind. To be fair, I cut my teeth on stocks and PM's and interest related financials in the very late 70's. It made one hell of an impression on a young guy starting out. I've been waiting for this timeline again my whole adult life. It started rhyming when I saw the V shaped recovery immediately after Covid started. Excess. "Irrational exuberance" is a warning hardly anyone once heard, and most paid for. Then all that money printing?? Hello, 1980. The pain we have been feeling all year has been things that became written in stone when the govt shut down mainstreet, and started, no kept, spending like a drunk sailor. They say the market is forward looking, but it went ahead and marched upward and forward despite what all seemed obvious to me at the time, and since, and shitloads of people have been predicting it. Really, it was normalcy bias. Everyone wanted it to stay just like that despite really glaring causation that was going to prohibit it. Netflix longs (or whatever boom cycle wonderkind) deserve what they got. They held on too long despite all the evidence. The future is now, but it really has been done, and can be learned from again, before. |
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USA
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Posted: 11/21/2022 6:56:47 PM EDT
[#28]
Quote HistoryOriginally Posted By Enzo300: To be fair, I cut my teeth on stocks and PM's and interest related financials in the very late 70's. It made one hell of an impression on a young guy starting out. I've been waiting for this timeline again my whole adult life. It started rhyming when I saw the V shaped recovery immediately after Covid started. Excess. "Irrational exuberance" is a warning hardly anyone once heard, and most paid for. Then all that money printing?? Hello, 1980. The pain we have been feeling all year has been things that became written in stone when the govt shut down mainstreet, and started, no kept, spending like a drunk sailor. They say the market is forward looking, but it went ahead and marched upward and forward despite what all seemed obvious to me at the time, and since, and shitloads of people have been predicting it. Really, it was normalcy bias. Everyone wanted it to stay just like that despite really glaring causation that was going to prohibit it. Netflix longs (or whatever boom cycle wonderkind) deserve what they got. They held on too long despite all the evidence. The future is now, but it really has been done, and can be learned from again, before. Quote HistoryOriginally Posted By Enzo300: Originally Posted By Trunalimunumaprzure: Congrats. I would bet the vast majority of people who gloat about other peoples "mis-investments" are taking a bath along with the rest of us though. My crypto is about the only thing I'm doing okay on, heavily investing in traditional stocks 2019-2021 to "diversify" hasn't been kind. To be fair, I cut my teeth on stocks and PM's and interest related financials in the very late 70's. It made one hell of an impression on a young guy starting out. I've been waiting for this timeline again my whole adult life. It started rhyming when I saw the V shaped recovery immediately after Covid started. Excess. "Irrational exuberance" is a warning hardly anyone once heard, and most paid for. Then all that money printing?? Hello, 1980. The pain we have been feeling all year has been things that became written in stone when the govt shut down mainstreet, and started, no kept, spending like a drunk sailor. They say the market is forward looking, but it went ahead and marched upward and forward despite what all seemed obvious to me at the time, and since, and shitloads of people have been predicting it. Really, it was normalcy bias. Everyone wanted it to stay just like that despite really glaring causation that was going to prohibit it. Netflix longs (or whatever boom cycle wonderkind) deserve what they got. They held on too long despite all the evidence. The future is now, but it really has been done, and can be learned from again, before. Oh yeah, I get it. I have purposely tried to avoid boom cycle holdings and instead look for long, established companies with a proven track record of value. Just really stings when in the midst of all the bullshit we were watching cash we had sitting on the sidelines getting wrecked by inflation, only to see it get hammered by the markets when we decided to put a good chunk of it in investments instead because we weren't going to be able to simply save our way to prosperity. I have faith that history will show that move to be a good one, eventually. Just came at a bad time because for the first time in about a decade things were starting to look up for us personally and finacially and the thought of getting "stuck" again isn't exactly appealing. Getting pretty far off the crypto topic now, though.
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Posted: 11/21/2022 11:13:27 PM EDT
[Last Edit: Advance]
[#29]
Livestream
 Failed To Load Title Channel is Tesla Live. There is a QR code that takes you here: https://teslagives.io/]https://teslagives.io/ BEWARE |
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Posted: 11/21/2022 11:22:53 PM EDT
[Last Edit: TexasDoubleTap]
[#30]
Quote HistoryOriginally Posted By Advance: Channel is Tesla Live. There is a QR code that takes you here: BEWARE I hope scammers get chronic frequent urination and stub a toe every time they go piss. |
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Posted: 11/21/2022 11:24:47 PM EDT
[Last Edit: Fallen]
[#31]
Quote HistoryOriginally Posted By Advance: Livestream  BEWARE If it’s a scam, don’t link to it. 
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Posted: 11/21/2022 11:40:39 PM EDT
[Last Edit: lazyengineer]
[#32]
 A lot of people poured a whole lot of money into this Starting 2020 or so. That money went.... somewhere. To... somebody. |
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Posted: 11/22/2022 12:12:51 AM EDT
[Last Edit: Fallen]
[#33]
Quote HistoryOriginally Posted By lazyengineer: https://i.postimg.cc/jS3NfmfP/Screenshot-20221121-213914-Chrome.jpg A lot of people poured a whole lot of money into this Starting 2020 or so. That money .... somewhere. To... somebody. I got some of it. So…thanks for that. |
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Posted: 11/22/2022 1:16:32 AM EDT
[#34]
Ok, now pretend you started in Feb ‘21.
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TX, USA
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Posted: 11/22/2022 1:44:15 AM EDT
[#35]
Quote HistoryOriginally Posted By MidwestJ: @Obo2 1) buy 3 Ledger S+ 2) https://www.youtube.com/watch?v=gcdL0rddsuQ3) get a Safe deposit Box and put 1 of your unopened Ledger S+ in it for safekeeping 4) hide your second, unused one elsewhere safe Why are you buying more than one, and not using the other two? Not trolling—genuinely don't understand. |
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Posted: 11/22/2022 2:46:51 AM EDT
[Last Edit: lazyengineer]
[#36]
Quote HistoryOriginally Posted By Brahmzy: Ok, now pretend you started in Feb ‘21. Yea wow - can you imagine? Ouch. If you got in Feb '19 - you won; bigly. (assuming you actually sold) But man, if you got in, in Feb '21 - you lost. So over the last 5 years, here we are now - if you bought in 5 years ago, and just held, you'd be up 50%. Meanwhile,  if you just bought stock in US phosphorus mining operations (Lazy's recommendation in TEAM a while back - with long story backing why  ), you'd have doubled your value (103%), compared to buying and holding Bitcoin over the last five years (which is sitting at only 45% 5-year total gain).And nobody stole all your phosphorus and took it with them to Argentina last week either; nor asked by the IRS "Do you own phosphorus holdings?" as question #1 on your 1040. |
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Posted: 11/22/2022 8:06:50 AM EDT
[#37]
Quote HistoryOriginally Posted By Brahmzy: Ok, now pretend you started in Feb ‘21. Unfortunately I don't have to pretend. 
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Posted: 11/22/2022 8:54:41 AM EDT
[#38]
Quote HistoryOriginally Posted By Jagrmaister: I am not looking forward to the family gloating about "BitCON" at Thanksgiving dinner. Ugh... What a shit year and well beyond Bitcoin. Oh well. Here's to 2023. Did you gloat to your family when bitcoin was making you all that paper money?? I'm thinking yes you did gloat about your paper profits. Otherwise how would all your reatives know about your financial business. Pride comes before the fall. Bitcoin = beanie babies I heard on fox business news on Sunday. get out while you can. |
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Posted: 11/22/2022 9:03:58 AM EDT
[Last Edit: Jagrmaister]
[#39]
Quote HistoryOriginally Posted By TW200: Did you gloat to your family when bitcoin was making you all that paper money?? I'm thinking yes you did gloat about your paper profits. Otherwise how would all your reatives know about your financial business. Pride comes before the fall. Bitcoin = beanie babies I heard on fox business news on Sunday. get out while you can. Quote HistoryOriginally Posted By TW200: Originally Posted By Jagrmaister: I am not looking forward to the family gloating about "BitCON" at Thanksgiving dinner. Ugh... What a shit year and well beyond Bitcoin. Oh well. Here's to 2023. Did you gloat to your family when bitcoin was making you all that paper money?? I'm thinking yes you did gloat about your paper profits. Otherwise how would all your reatives know about your financial business. Pride comes before the fall. Bitcoin = beanie babies I heard on fox business news on Sunday. get out while you can. I didn't. I believe Bitcoin will ultimately prove to be the answer to global financial problems. I've praised its value as a new opportunity outside of centralized banking and likened its discovery to that of fire or the wheel, but have always provided the asterisk it is a polarizing outcome of zero or infinity against fiat valuation. 
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Posted: 11/22/2022 9:15:28 AM EDT
[#40]
Quote HistoryOriginally Posted By Jagrmaister: I didn't. I believe Bitcoin will ultimately prove to be the answer to global financial problems. I've praised its value as a new opportunity outside of centralized banking, but have always provided the asterisk it is a polarizing outcome of zero or infinity against fiat valuation. https://media.tenor.com/T5bXbasmWI0AAAAM/seinfeld-george.gif Then don't sweat what they say. I always felt Bitcoin was working to replace the US dollar. The US dollar as world currency is the main thing that keeps us (US) a world power. Bitcoin will someday undermine the US dollar if bitcoin suceeds. Got Gold...Silver? When the US dollar goes to total shit metals will shine. I hope that doesn't happen. |
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Posted: 11/22/2022 9:15:54 AM EDT
[Last Edit: Brahmzy]
[#41]
I am:
1. Heavily relying on the tried and true 4 year halvening cycle(s) 2. Heavily relying on seeing a new ATH at some point 3. Hopefully limiting my HODL exposure to only the large-caps (BTC & ETH) (Damn you CRO) 4. DCAing our way down as we swirl the toilet bowl waiting on #1 & #2 What else can you do if you’re not a day trader. I think by end of ‘24, if we haven’t seen a positive change in our position(s), that’ll be the time to throw in the towel. That’s a LONG time to continue to accumulate / light $$$ on fire All bets are off if this gets regulated to death and/or if the halvening cycles no longer change the price action. |
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Posted: 11/22/2022 9:17:23 AM EDT
[#42]
Quote HistoryOriginally Posted By lazyengineer: Yea wow - can you imagine? Ouch. If you got in Feb '19 - you won; bigly. (assuming you actually sold) But man, if you got in, in Feb '21 - you lost. So over the last 5 years, here we are now - if you bought in 5 years ago, and just held, you'd be up 50%. Meanwhile, https://i.postimg.cc/YCXdnd5z/image.png if you just bought stock in US phosphorus mining operations (Lazy's recommendation in TEAM a while back - with long story backing why ), you'd have doubled your value (103%), compared to buying and holding Bitcoin over the last five years (which is sitting at only 45% 5-year total gain).And nobody stole all your phosphorus and took it with them to Argentina last week either; nor asked by the IRS "Do you own phosphorus holdings?" as question #1 on your 1040. Quote HistoryOriginally Posted By lazyengineer: Originally Posted By Brahmzy: Ok, now pretend you started in Feb ‘21. Yea wow - can you imagine? Ouch. If you got in Feb '19 - you won; bigly. (assuming you actually sold) But man, if you got in, in Feb '21 - you lost. So over the last 5 years, here we are now - if you bought in 5 years ago, and just held, you'd be up 50%. Meanwhile, https://i.postimg.cc/YCXdnd5z/image.png if you just bought stock in US phosphorus mining operations (Lazy's recommendation in TEAM a while back - with long story backing why ), you'd have doubled your value (103%), compared to buying and holding Bitcoin over the last five years (which is sitting at only 45% 5-year total gain).And nobody stole all your phosphorus and took it with them to Argentina last week either; nor asked by the IRS "Do you own phosphorus holdings?" as question #1 on your 1040. Now do 6 years. 5 years cherry picks peak to trough. You can make a lots of stuff look stupid if you take that approach. Bitcoin was down between 2013 and 2016 as well. Long crypto bear markets are nothing new. I suspect the one we are in right now could last just as long or longer. |
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Posted: 11/22/2022 9:21:58 AM EDT
[Last Edit: TW200]
[#43]
Quote HistoryOriginally Posted By woodsie: Now do 6 years. 5 years cherry picks peak to trough. You can make a lots of stuff look stupid if you take that approach. Bitcoin was down between 2013 and 2016 as well. Long crypto bear markets are nothing new. I suspect the one we are in right now could last just as long or longer. Put FTX and all the other BS companies and your equations this go round. Also not anymore huge stock profits being made to dump into bitcoin. Even the rich are "hurting" right now. |
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Posted: 11/22/2022 9:23:57 AM EDT
[Last Edit: Brahmzy]
[#44]
Quote HistoryOriginally Posted By TW200: I always felt Bitcoin was working to replace the US dollar. The US dollar as world currency is the main thing that keeps us (US) a world power. Bitcoin will someday undermine the US dollar if bitcoin suceeds. Got Gold...Silver? When the US dollar goes to total shit metals will shine. I hope that doesn't happen. I think the asset classes can and will co-exist. Don’t put all your $ into any single one of them. I don’t think any of them are going to “replace” anything. I was all about the PMs for a while and then I’m continually unimpressed how “the worlds greatest hedge against inflation” and “the worlds safest asset class” continues to stagnate, fall and be constantly heavily manipulated. And underperform. |
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Posted: 11/22/2022 9:31:34 AM EDT
[Last Edit: TW200]
[#45]
Quote HistoryOriginally Posted By Brahmzy: I think the asset classes can and will co-exist. Don’t put all your $ into any single one of them. I don’t think any of them are going to “replace” anything. I was all about the PMs for a while and then I’m continually unimpressed how “the worlds greatest hedge against inflation” and “the worlds safest asset class” continues to stagnate, fall and be constantly heavily manipulated. And underperform. That's ALL due to paper Derivatives. At some point smart money is going to short the paper gold and silver paper Derivatives. Too many butts, not enough seats. Gold and silver will soar. And unfortunately the paper and electronic dollar will drop like a rock .gov is spending, giving US dollars away like a drunken sailor. |
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Posted: 11/22/2022 9:34:13 AM EDT
[#46]
Quote HistoryOriginally Posted By TW200: That's ALL due to paper Derivatives. At some point smart money is going to short the paper gold and silver paper Derivatives. Too many butts, not enough seats. Gold and silver will soar unfortunately. And what event / trigger would kick said “shorting” & “soaring” off? |
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Posted: 11/22/2022 9:42:49 AM EDT
[#47]
Quote HistoryOriginally Posted By TW200: Put FTX and all the other BS companies and your equations this go round. Also not anymore huge stock profits being made to dump into bitcoin. Even the rich are "hurting" right now. How many "World's Largest Crypto Exchange Collapses" cycles have we been through? This is the 3rd, IIRC. |
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Posted: 11/22/2022 9:43:24 AM EDT
[#48]
Quote HistoryOriginally Posted By TW200: Put FTX and all the other BS companies and your equations this go round. Also not anymore huge stock profits being made to dump into bitcoin. Even the rich are "hurting" right now. Quote HistoryOriginally Posted By TW200: Originally Posted By woodsie: Now do 6 years. 5 years cherry picks peak to trough. You can make a lots of stuff look stupid if you take that approach. Bitcoin was down between 2013 and 2016 as well. Long crypto bear markets are nothing new. I suspect the one we are in right now could last just as long or longer. Put FTX and all the other BS companies and your equations this go round. Also not anymore huge stock profits being made to dump into bitcoin. Even the rich are "hurting" right now. Defunct crypto exchanges and scams existed in the last two crashes in 2014 and 2018. That's nothing new. Frankly, it was worse when Mt. Gox blew up in 2014 for very similar reasons because they represented a much larger portion of the market. My Bitcoins crashed from $1200 to $166 which is a far greater drop by percentage than so far in this crash. Your second point is correct but also temporary. I've posted many times in this thread and others that crypto won't recover until macro conditions improve. I anticipate that crypto, just like stocks, will sky rocket when the Fed inevitably pivots. If you believe that that a Fed terminal rate of 4.5% - 5.0% is going to stick for the long (or longish) term then I think you could argue that crypto is dead money but I don't believe it will. This may be recency bias speaking but I see all incentives in our current system pointing towards a government that is designed to run on cheap money. To be honest, I would prefer a future of 7%-9% mortgages and 5% CDs indefinitely and I would trade my crypto fortune for it in a heartbeat because I believe it would herald smaller government and a stronger middle class. I'd have to get deeper into a discussion of why I believe ultra low interest rates are a wealth transfer from the working class and middle class to the upper middle class and upper class but I don't want to turn this post into an essay. |
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Posted: 11/22/2022 9:45:08 AM EDT
[Last Edit: TW200]
[#49]
Quote HistoryOriginally Posted By Brahmzy: And what event / trigger would kick said “shorting” & “soaring” off? A list of things. Rich people making money shorting paper gold and silver FJB spending US dollars. Nuclear black swan Putin event USA Men are women and USA women are men. US boys are whinney pussies...our next military. 5 million illegals entering the US it the past two years. 5 Million illegals putting a strain on our tax dollars and Hospitals aka heathcare ***FBJ and son seem to be Chinese spies.*** *****Gov is helping the Chinese become the world super power.*** ***The Chinese navy is NOW bigger than the USA navy due to FJB.*** F emale B ody I nspectors lied and called our President Trump a spy. The 2020 elections were rigged. And many, many more reasons. All the BS from the last two years will come to roost. Just a matter of time. |
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Posted: 11/22/2022 9:48:19 AM EDT
[Last Edit: TW200]
[#50]
Quote HistoryOriginally Posted By woodsie: Defunct crypto exchanges and scams existed in the last two crashes in 2014 and 2018. That's nothing new. Frankly, it was worse when Mt. Gox blew up in 2014 for very similar reasons because they represented a much larger portion of the market. My Bitcoins crashed from $1200 to $166 which is a far greater drop by percentage than so far in this crash. Your second point is correct but also temporary. I've posted many times in this thread and others that crypto won't recover until macro conditions improve. I anticipate that crypto, just like stocks, will sky rocket when the Fed inevitably pivots. If you believe that that a Fed terminal rate of 4.5% - 5.0% is going to stick for the long (or longish) term then I think you could argue that crypto is dead money but I don't believe it will. This may be recency bias speaking but I see all incentives in our current system pointing towards a government that is designed to run on cheap money. To be honest, I would prefer a future of 7%-9% mortgages and 5% CDs indefinitely and I would trade my crypto fortune for it in a heartbeat because I believe it would herald smaller government and a stronger middle class. I'd have to get deeper into a discussion of why I believe ultra low interest rates are a wealth transfer from the working class and middle class to the upper middle class and upper class but I don't want to turn this post into an essay. The experts say FTX was 100 times worse than ENRON debackle. Almost impossible to magine a dickhead 100 times worse than Madoff. dropthemicgif |
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