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anbuitachi said:
should i dump my savings in bitcoin? im saving to buy a car. if it goes to 75k (roughly 50% rise), i'll be able to afford a car
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Please don’t
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Z-Qualizer said:
Yeah I’ll consider buying some more at sub 42,500. So basically a 20-ish percent dip from current levels.

And this is petty, but I really like that my average price is in the 30s… so I’d like to keep it that way. Buying in the 50s increases that average pretty quickly 😂
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yeah. tricky part is where we are in the cycle there is low risk that you won't make profit in the next 12 months.

you put your order in for 42k and it hits. You end up selling at 85k and you made 100% returns vs you buying at 50 and only making 70% gains ( still crazy good).

The gamble with not just DCA'ing in is if you don't get your dip to 42 k and you never get to really add to your position unless you somehow fomo in at 60-70 to then sell at 85 ish. Regardless, I don't think you care because you already have a large chunk of NW already invested you would still be crazy happy if we hit 85k nonetheless.

Good luck and i have no idea what the right move is anyways.
 
Not saying I think this is right or now but food for thought from crypt twitter (pic below)
 

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sevo00 said:
Not saying I think this is right or now but food for thought from crypt twitter (pic below)
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Usually when I see hopium like this, we get a pullback.
 
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Z-Qualizer said:
Robinhood… and yes, I know I don’t actually “own” them and I don’t care.
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You’re insane. It’s not even remotely about the non custodial nature of their crypto platform but about their reputation after the GME debacle. The movie that came out hardly does it justice. The floundering class action lawsuits are a sad sight. I got burned out of 5 figures by them. Never again. They make “not your keys not your crypto” a joke. You barely even own the retail stocks you buy on their platform as far as I’m concerned. They pulled the same crap with DOGE too. They have no problem locking out buy or sell options while other platforms do not. On a highly volatile asset.


Why not use fidelity or Coinbase
 
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kb1900 said:
You’re insane. It’s not even remotely about the non custodial nature of their crypto platform but about their reputation after the GME debacle. The movie that came out hardly does it justice. The floundering class action lawsuits are a sad sight. I got burned out of 5 figures by them. Never again. They make “not your keys not your crypto” a joke. You barely even own the retail stocks you buy on their platform as far as I’m concerned. They pulled the same crap with DOGE too. They have no problem locking out buy or sell options while other platforms do not. On a highly volatile asset.


Why not use fidelity or Coinbase
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I agree that's crazy. I think he has like 6 figures worth of crypto on Robinhood?
 
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finalpsychyear said:
Why exactly are we due.. didnt we just go down to high 30s...

Low 40s or high 30s would be nice though.
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I'm starting to see a lot of hopium posts on Reddit. BTC 150-250k, ETH 10k-25k. New people asking how to buy crypto. Feels like 2021-22 again.

Plus my bag of ETH is green after holding for 2 years, giving me a chance to get out. Of course I won't, so that means we are due for a dump.
 
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pgg said:
Can you elaborate? I won't attack you, but using any energy to pointlessly crunch numbers sounds ridiculous.

I understand that energy waste is a smaller issue now that it's proof of stake and not proof of work.

Obviously I still have a supremely skeptical attitude about any of this ever being useful as a financial instrument or even a hedge vs inflation, but the speculation and other aspects fascinate me.
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There are a lot of articles explaining how mobile mining companies using harmful greenhouse gases, like methane that would otherwise be flared into the atmosphere, that is converted to electricity and used to secure the network. There are also mining companies that that use excess electricity that is not used by power plants to mine for profits to help offset operating costs. They also shut down mining when demand is up.

Mining is showing that it is a profit based business and will use the lowest cost of electricity and now convert harmful waste stranded energy that would be flared into the atmosphere (with a tax) and now being used. You may not see any benefit, but someone living in an oppressive regime with limited banking options, may see benefit to the work of miners. Just a different perspective.

You can google bitcoin mining using stranded energy, along with bitcoin mining using excess energy and stabilizing the electrical grid and you’ll find a ton of articles to learn about if you’re interested.
 
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SOL is getting very congested. about to venture over to BASE. looks like the flagship memecoin there will be TYBG (thank you base God). meme coin with brian armstrongs cartoon picture
 
@mentos I think you might be on to something…

Just saw this on Reddit 😬

IMG_0128.jpeg
 
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sevo00 said:
I did this too but did it at around tthe bottom of the bear market and it was a great strategy at the time. Not sure I would be doing it at this point though
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I think guys like me who came in at the peak of the hype cycle is how you make your money. This time around I got to experience the ride and got off around 35k. I’ll jump back on if it dips back below 40k. If it doesn’t, I’m ok letting it fly without me on board.
 
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This morning, BTC and ETH briefly broke $53k and $3k, respectively.
 
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Red day for stocks. Wonder if crypto will follow.
 
ETH just broke 3k! Wen 4k?
 
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Direct Laryngoscopy said:
ETH has an upgrade they are going to be rolling out that will make transactions cheaper and faster.

ETH usually leads the way, then it’s a wild AltSeason
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Nice. I feel like they've had like 8 upgrades already but gas fees still remain high?
 
anbuitachi said:
where do you guys buy your cryptos?
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Have been using Gemini since 2017, no issues.

I think the way this cycle is playing out, still a high possiblity of a left translated cycle (high end of this year) and a longer bear market. If there is no significant pullback, I will go all cash before the end of the year.
 
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sevo00 said:
ultrasound.money

Ultra Sound Money

watch ETH become ultra sound money
ultrasound.money ultrasound.money

This website makes it obvious why you need ETH. Look at the burn rate
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So there's about 120 million ETH. Is there a projected end amount or will it keep getting burned forever?

There's 21 million BTC. Will there eventually be 21 million ETH?
 
ETH is not money imo. With an variqble emission schedule and coin cap, it’s hard to classify it has hard money. I think it does have value, but for me it’s hard to quantify it. I will trade it for profits though
 
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https://x.com/balajis/status/1760638270462104048

BTC is eating up all the fiat currencies around the world. The Dollar milkshake theory says the USD dollar will strengthen as other currencies devalue faster because the majority global trade is settled in USD. So those fiat currencies have to buy scarce US dollars to trade.

USDT (tether) has grown as a synthetic USD to settle trades (> 100 billion in circulation) and strengthens the milkshake theory. Eventually most currencies converge to 1 and the 1 currency collapses. Maybe with tether is an outlet for global dollar demand and can perpetuate the US dollar as global reserve currency.

Tether is the largest holder of US treasury Bills, so the US government is inclined NOT to try to shut down tether as the global users of it are indirectly funding the US government. Funny how incentives work.

So maybe the people in these countries that are suffering from accelerated currency devaluation (as evidence by all time high price for Bitcoin) can store their wealth in BTC and use Tether for global trade.
 
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Direct Laryngoscopy said:
https://x.com/balajis/status/1760638270462104048

BTC is eating up all the fiat currencies around the world. The Dollar milkshake theory says the USD dollar will strengthen as other currencies devalue faster because the majority global trade is settled in USD. So those fiat currencies have to buy scarce US dollars to trade.

USDT (tether) has grown as a synthetic USD to settle trades (> 100 billion in circulation) and strengthens the milkshake theory. Eventually most currencies converge to 1 and the 1 currency collapses. Maybe with tether is an outlet for global dollar demand and can perpetuate the US dollar as global reserve currency.

Tether is the largest holder of US treasury Bills, so the US government is inclined NOT to try to shut down tether as the global users of it are indirectly funding the US government. Funny how incentives work.

So maybe the people in these countries that are suffering from accelerated currency devaluation (as evidence by all time high price for Bitcoin) can store their wealth in BTC and use Tether for global trade.
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1. genesis sell off pushing btc lower?

2. thoughts on making roth, hsa, sep contributions for 2023 and 2024 before the halving into btc etfs instead of that money buying it directly for someone who already has some coins? I feel like its a no brainer unless im overthinking it.
 
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Direct Laryngoscopy said:
https://x.com/balajis/status/1760638270462104048

BTC is eating up all the fiat currencies around the world. The Dollar milkshake theory says the USD dollar will strengthen as other currencies devalue faster because the majority global trade is settled in USD. So those fiat currencies have to buy scarce US dollars to trade.

USDT (tether) has grown as a synthetic USD to settle trades (> 100 billion in circulation) and strengthens the milkshake theory. Eventually most currencies converge to 1 and the 1 currency collapses. Maybe with tether is an outlet for global dollar demand and can perpetuate the US dollar as global reserve currency.

Tether is the largest holder of US treasury Bills, so the US government is inclined NOT to try to shut down tether as the global users of it are indirectly funding the US government. Funny how incentives work.

So maybe the people in these countries that are suffering from accelerated currency devaluation (as evidence by all time high price for Bitcoin) can store their wealth in BTC and use Tether for global trade.
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Tether is not the largest holder of treasuries in the world. Not even close with <$100B. Outside of the Federal Government itself, Japan holds the most with over $1.1 trillion. Total outstanding T-bills in circulation are over $26 trillion with like ~$2 trillion issued annually.

The link you included suggested that the dollar was a vampire and responsible(?) for devaluing foreign currencies, specifically the Venezualan Bolivar and Brazilian Real. Really? We can't think of any other reasons why people would lose confidence in Brazilian or Venezualan currency??? Political instability doesn't lead to high currency valuations.
 
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rowsdower88 said:
Tether is not the largest holder of treasuries in the world. Not even close with
The link you included suggested that the dollar was a vampire and responsible(?) for devaluing foreign currencies, specifically the Venezualan Bolivar and Brazilian Real. Really? We can't think of any other reasons why people would lose confidence in Brazilian or Venezualan currency??? Political instability doesn't lead to high currency valuations.
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Correct. I meant non sovereign holder.
 
Direct Laryngoscopy said:
Correct. I meant non sovereign holder.
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Follow the yen and their own JGB. They are tied to what I was discussing. They are trying to juggle currency devaluation with bond market implosion. The Bank of Japan recently announced a Japanese bond interest hike could trigger an massive losses on the JGB. If that happens, how do you think they will plug that hold? (Hint they hold a lot of US treasuries)

But in reality if something catastrophic does happen to the bond market some facility will be created and the can will be kicked down the road
(like the BTFP from last year with the regional bank failures).
 
https://cointelegraph.com/news/reddit-converts-excess-cash-into-bitcoin-and-ethereum


Reddit converts excess cash into Bitcoin and Ethereum

The social news network also revealed it has been experimenting with Ether and MATIC as a form of payment for sales of virtual goods.

Social media giant Reddit has been using its excess cash to add small amounts of Bitcoin and Ether to its treasury since 2022 and believes crypto and blockchain have “significant potential,” new filings reveal.

“We invested some of our excess cash reserves in Bitcoin and Ether,” Reddit stated in a Feb. 22 initial public offering filing with the United States Securities and Exchange Commission.

Reddit added that it has been “experiment[ing] with blockchain technology” by buying Ether and Polygon’s Matic as a form of payment for the sales of certain

The firm said the Ether and MATIC it received were also “not material” across 2022 and 2023 but that it may continue to use the two cryptocurrencies as a payment method in the future.

Reddit said its product and engineering team also holds cryptocurrencies for “specific uses” but didn’t specify which ones or the amount.

Reddit also said it sees “significant potential” in blockchain-related technologies but isn’t sure whether business and consumer adoption will continue.

The S-1 registration — used by companies planning on going public — revealed that Reddit recorded $90.8 million in net losses in 2023, though its revenue increased 20.6% to $804 million year-on-year.

Reddit was valued at $10 billion after its funding round in 2021, but it may now only attain half that figure, according to a Jan. 28 Bloomberg report.

In October, Reddit shuttered its blockchain-based rewards service, “Community Points,” which rewarded users with points for positive engagement in certain subreddits. The firm cited scalability concerns as the main reason for the shutdown.
 
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As more publicly traded companies like Microstrategy, Twitter and now Reddit, along with ETFs for trading and 401k and IRAs (and probably pensions in the future), even the most ardent haters will have capital in BTC and crypto. It’s inevitable in my opinion at this point. Will be interesting how the haters and skeptics embrace, engage, and discuss it here.

Can’t wait.
 
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Direct Laryngoscopy said:
As more publicly traded companies like Microstrategy, Twitter and now Reddit, along with ETFs for trading and 401k and IRAs (and probably pensions in the future), even the most ardent haters will have capital in BTC and crypto. It’s inevitable in my opinion at this point. Will be interesting how the haters and skeptics embrace, engage, and discuss it here.

Can’t wait.
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If its crosses its ATH this year or heck somehow gets close to 100k then its going to get crazy as all this talk about last cycle being a subdued one will kick in and talks of it going to 200+ will somehow become mainstream.

If it fails to break its ATH this year and has a very anti climatic peak barely over the previous to 70-75 I think it will severely hurt the asset.

However, if anything all signs indicate that we are much higher at this point in the cycle than ever before and its not crazy that we are in the 60s around the halving which is insanely ahead of the game.
 
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Is anyone NOT planning to sell within the next 1-2 years? Seems pointless to hold until say 2030 if you know it will dump again.
 
mentos said:
Is anyone NOT planning to sell within the next 1-2 years? Seems pointless to hold until say 2030 if you know it will dump again.
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time in the market > timing the market

I haven’t sold in over a decade and still regret my early sell offs


so yeah I won’t be selling any eth or btc. I may utilize what I have to mess around with lending or other defi or whatever else is happening because it’s fun to stay current but that’s it
 
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Direct Laryngoscopy said:
2028 the earliest I’ll consider selling. I trade a little but my core holdings stay with me.
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As the original thread starter do you feel the 4 year cycle with 70-80% drawdowns continue?
If so until proven otherwise what stops you from selling a large portion of your position with the notion of reaccumulating even more during the next bear market esp if we see prices 100k+ even as a laddering in position i.e. sell 25% at 100k, another 25% at 125k, 25% at 150k, etc if we get there etc ?
 
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kb1900 said:
time in the market > timing the market

I haven’t sold in over a decade and still regret my early sell offs


so yeah I won’t be selling any eth or btc. I may utilize what I have to mess around with lending or other defi or whatever else is happening because it’s fun to stay current but that’s it
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so basically your saying the risk of selling at 100k is not worth it as it may compromise you selling at 300-500k in the next several years as it requires paying taxes then hoping you get in at roughly the right time in the next bear market to make it worthwhile?
 
finalpsychyear said:
As the original thread starter do you feel the 4 year cycle with 70-80% drawdowns continue?
If so until proven otherwise what stops you from selling a large portion of your position with the notion of reaccumulating even more during the next bear market esp if we see prices 100k+ even as a laddering in position i.e. sell 25% at 100k, another 25% at 125k, 25% at 150k, etc if we get there etc ?
Click to expand...

I think we continue to see 4 year cycles till we don’t…….
 
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After buying the top in 2021 and not buying a single coin since then... I'm finally green! Last year I was down 56% and even more in 2022.

1000019760.png
 
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