Frozenbeernuts 2,264 Posted December 16, 2022 1 hour ago, nobody said: He who controls the hash rate controls the world! Wrong. I just explained how that was already tried in the block size war, and the miners, combined with devs, combined with big tech all lost to the nodes. There is an entire book called the block size war that explains what happened in great detail. Also I would like to see examples of Saylor as a sociopath Share this post Link to post Share on other sites
Frozenbeernuts 2,264 Posted December 17, 2022 The BIS is part of the global money machine. Why don't they just ban banks from holding bitcoin? This is also not a rule to allow banks to hold 2% of their reserves in bitcoin. It's a rule to limit banks to 2%. As the price goes up they will be forced to sell. That's going to really piss some bank managers off. https://bitcoinmagazine.com/legal/bis-finalizes-bitcoin-bank-limits Share this post Link to post Share on other sites
nobody 2,672 Posted December 17, 2022 22 hours ago, Frozenbeernuts said: Wrong. I just explained how that was already tried in the block size war, and the miners, combined with devs, combined with big tech all lost to the nodes. There is an entire book called the block size war that explains what happened in great detail. Also I would like to see examples of Saylor as a sociopath Did you read that book? And all you have to do is witness interactions Saylor participates in to see that he is only interacting with people to advance his agenda. Share this post Link to post Share on other sites
Djgb13 2,339 Posted December 17, 2022 https://www.tiktok.com/t/ZTRV7osxX/ When Russell Brand is the voice of reason you KNKW the left has gone bat Sh1t insane. Just look at @dogcows This guy is a focking moron that puts even Tim Hack to shame. 1 Share this post Link to post Share on other sites
Frozenbeernuts 2,264 Posted December 19, 2022 On 12/17/2022 at 2:08 PM, nobody said: Did you read that book? And all you have to do is witness interactions Saylor participates in to see that he is only interacting with people to advance his agenda. I did not read the book Share this post Link to post Share on other sites
Shooter McGavin 618 Posted December 22, 2022 Not sure if it's true, but Peter Schiff is saying that Michael saylor told him the only reason he turned into a btc bull was to avoid mstr collapse. U.Today: Peter Schiff Names Real Reason Why Michael Saylor Bought Bitcoin. https://u.today/peter-schiff-names-real-reason-why-michael-saylor-bought-bitcoin Share this post Link to post Share on other sites
Shooter McGavin 618 Posted December 22, 2022 Also binance has weeks left. 1 Share this post Link to post Share on other sites
Frozenbeernuts 2,264 Posted December 22, 2022 58 minutes ago, Shooter McGavin said: Not sure if it's true, but Peter Schiff is saying that Michael saylor told him the only reason he turned into a btc bull was to avoid mstr collapse. U.Today: Peter Schiff Names Real Reason Why Michael Saylor Bought Bitcoin. https://u.today/peter-schiff-names-real-reason-why-michael-saylor-bought-bitcoin I don't believe it. Schiff is a dlckwad. Anti bitcoin yet he says he wishes he invested in bitcoin when it was first available. He thinks his precious gold should be the new standard, even though it already failed because it's too easy to centralize Share this post Link to post Share on other sites
edjr 6,580 Posted December 22, 2022 BUY AND HODL! BUY AND HODL! BUY AND HODL! Share this post Link to post Share on other sites
nobody 2,672 Posted December 22, 2022 12 hours ago, Frozenbeernuts said: I don't believe it. Schiff is a dlckwad. Anti bitcoin yet he says he wishes he invested in bitcoin when it was first available. He thinks his precious gold should be the new standard, even though it already failed because it's too easy to centralize Can you please explain how gold being centralized led to the failure of the gold standard? Share this post Link to post Share on other sites
Frozenbeernuts 2,264 Posted December 22, 2022 47 minutes ago, nobody said: Can you please explain how gold being centralized led to the failure of the gold standard? Gold was held at the banks, making it easy for the gov to declare holding gold to be illegal and confiscate it. It's also impossible to really verify if gold reserves are legitimate. We just need to take someone's word for it that the gold is all there, and that it is indeed gold and not gold plated tungsten Share this post Link to post Share on other sites
Cdub100 3,907 Posted December 22, 2022 Haven't posted my portfolio in a while. As the market continued to draw down I consolidated my positions late summer and fall. Unfortunately, the bulk of my crypto 90% is still stuck in Celsius Here is what I have in liquid funds: BTC 56% - Buying every week ETH 1% - kept for gas fees DOT 16% - Great staking APY ADA 7% - boring but they just keep moving forward. Easy staking SHIB 7% - Got to have a meme coin. Haven't bought in a long time THETA 12% - I'm running a guardian and elite edge node. Payments isn't great but I like the potential. I have some very small positions in APE, ETC, and USDC Everything other than theta is stored in a cold wallet. Share this post Link to post Share on other sites
Shooter McGavin 618 Posted December 22, 2022 Do you track gain/loss? Assuming the holdings in Celsius are gone, where are you in ROI? Still positive? Share this post Link to post Share on other sites
Cdub100 3,907 Posted December 22, 2022 Just now, Shooter McGavin said: Do you track gain/loss? Assuming the holdings in Celsius are gone, where are you in ROI? Still positive? Yes, I track gain/loss for taxes. My current portfolio above is 15% of the total value of my Celsius portfolio. If you include my celsius portfolio I am still up pretty big. I started buying and mining ETH when it was under $200 and I would say I secured 90% of my ETH position under $400-$600. I bought most of my BTC between 8-30k. If my Celsius coins are gone I am no longer positive ROI. I know people throw around %'s but at the height of crypto Nov 2021 I was a fake internet money millionaire. I probably should have paid off my mortgage but my plan was to build it up enough to collect dividends from staking. Obvously if I knew then what I know now I would have done things differently. All that being said I am still buying and DCAing into BTC weekly. I will probably buy some more Theta at some point, and increase the stake in the nodes I'm running. Everything else is staked and earning staking rewards which increases my total coins. In fact, just now at 10:36am I earned 0.6123 DOT Share this post Link to post Share on other sites
Shooter McGavin 618 Posted December 22, 2022 3 minutes ago, Cdub100 said: Yes, I track gain/loss for taxes. My current portfolio above is 15% of the total value of my Celsius portfolio. If you include my celsius portfolio I am still up pretty big. I started buying and mining ETH when it was under $200 and I would say I secured 90% of my ETH position under $400-$600. I bought most of my BTC between 8-30k. If my Celsius coins are gone I am no longer positive ROI. I know people throw around %'s but at the height of crypto Nov 2021 I was a fake internet money millionaire. I probably should have paid off my mortgage but my plan was to build it up enough to collect dividends from staking. Obvously if I knew then what I know now I would have done things differently. All that being said I am still buying and DCAing into BTC weekly. I will probably buy some more Theta at some point, and increase the stake in the nodes I'm running. Everything else is staked and earning staking rewards which increases my total coins. In fact, just now at 10:36am I earned 0.6123 DOT Appreciate the candor and honesty. I sincerely tried to offer you advice the past few years to not be so greedy and take money off the table, speaking from personal experience, first in 2000 and then again in 2008 having similar amounts of cash invested in high risk assets. I learned from those mistakes, both investment wise and also life wise, I learned that the money wasn't what was important, and I found much more meaningful ways to enrich my life. I wish you the same. Share this post Link to post Share on other sites
nobody 2,672 Posted December 22, 2022 50 minutes ago, Frozenbeernuts said: Gold was held at the banks, making it easy for the gov to declare holding gold to be illegal and confiscate it. It's also impossible to really verify if gold reserves are legitimate. We just need to take someone's word for it that the gold is all there, and that it is indeed gold and not gold plated tungsten So how did that make the gold standard fail? By the way, I'm assuming you're saying it failed due to the great depression. If that's not the case, I'm not sure what you mean by failing. Share this post Link to post Share on other sites
Frozenbeernuts 2,264 Posted December 22, 2022 22 minutes ago, nobody said: So how did that make the gold standard fail? By the way, I'm assuming you're saying it failed due to the great depression. If that's not the case, I'm not sure what you mean by failing. Gold failed because it is too easy to manipulate. If it hadn't failed we would still be on a gold standard. It's properties unfortunately make it easy to capture and manipulate. Look at the price suppression. There are anywhere from 20 to 100 paper ounces of gold for every actual ounce of gold. And even that is a massive gap since no one really knows how much gold is out there. Gold bugs love the idea of going back to a gold standard, but it would just fail again and it would still be as manipulated as ever. In large part because it's impossible to verify the gold audits of countries who hold most of it Share this post Link to post Share on other sites
nobody 2,672 Posted December 22, 2022 So you're saying the gold standard failed because people were able to short gold futures? Explain it like I'm a 3rd grader if that is possible. I'm still trying to link the failure of the gold standard to centralization. Is it something like federal reserve confiscated gold, and therefore opened the door to price manipulation through naked short selling? For clarity, I'm using the term naked short selling to mean institutions selling assets they don't own through leveraged borrowing thereby artificially lowering the price of gold by selling more of the commodity than what is actually in existence. I think this is what you're saying, but I'm not sure. Share this post Link to post Share on other sites
Cdub100 3,907 Posted December 22, 2022 4 hours ago, Shooter McGavin said: Appreciate the candor and honesty. I sincerely tried to offer you advice the past few years to not be so greedy and take money off the table, speaking from personal experience, first in 2000 and then again in 2008 having similar amounts of cash invested in high risk assets. I learned from those mistakes, both investment wise and also life wise, I learned that the money wasn't what was important, and I found much more meaningful ways to enrich my life. I wish you the same. Learning from mistakes is important. As I said I had a plan which was influenced by my dividend portfolio. Eventually, my profit-taking was going to come from the yield I earned. I didn't think we would crash 80% due to the entrance of traditional investment firms. I was wrong and clearly didn't follow my own advice of not your keys not your crypto. Nothing about my life has changed. I'm a pretty simple guy who enjoys the simple things in life. I had no plans of buying a new truck my 2015 Denali runs great, my wife drives a new 2020 Honda. My bills are paid every month I contribute the max to my retirement accounts and have extra for my crypto DCA. The only thing I wish I had done was to take my family and a super nice expensive vacation. We still went on vacation though and had a blast. Share this post Link to post Share on other sites
Frozenbeernuts 2,264 Posted December 22, 2022 4 hours ago, nobody said: So you're saying the gold standard failed because people were able to short gold futures? Explain it like I'm a 3rd grader if that is possible. I'm still trying to link the failure of the gold standard to centralization. Is it something like federal reserve confiscated gold, and therefore opened the door to price manipulation through naked short selling? For clarity, I'm using the term naked short selling to mean institutions selling assets they don't own through leveraged borrowing thereby artificially lowering the price of gold by selling more of the commodity than what is actually in existence. I think this is what you're saying, but I'm not sure. The gold standard failed, we can agree on that right? It didn't fail because of paper gold, that was an effect of centralization. The government banning private ownership of the hardest money available and seizing it rather easily is why it failed. Nixon being able to just declare the US off the gold standard was the final nail in the coffin. Gold is a good store of value, but it moves too slow for the world to operate on a gold standard Like if country A tries to pay with gold to country B, how is it getting to country B? It ends up just being ledger entries anyway. Which bitcoin is a giant ledger already. That's what makes it easy to audit. You can trust the audit that your own node can perform on the network Share this post Link to post Share on other sites
nobody 2,672 Posted December 22, 2022 I think I see why I'm not fully connecting with your point. You seem to be defining the gold standard as physical gold is money. I was defining it as a bit more than that... Yes, gold is money, but redeemable for us dollars. In other words, the US dollar is a proxy for gold. I'm still not quite getting the linkages, but at this point, I don't really care. I think the problem is we don't necessarily share the definition of some of the key terms in your explanation. Share this post Link to post Share on other sites
Frozenbeernuts 2,264 Posted December 22, 2022 1 hour ago, nobody said: I think I see why I'm not fully connecting with your point. You seem to be defining the gold standard as physical gold is money. I was defining it as a bit more than that... Yes, gold is money, but redeemable for us dollars. In other words, the US dollar is a proxy for gold. I'm still not quite getting the linkages, but at this point, I don't really care. I think the problem is we don't necessarily share the definition of some of the key terms in your explanation. I didn't mean that gold has disappeared, but it was the entire basis for money before the dollar came around. So gold as a money has failed. Which most gold bugs will still cling to the thought that we can revert to a gold backed money standard. Which is ridiculous. Share this post Link to post Share on other sites
Frozenbeernuts 2,264 Posted December 22, 2022 Gold failed partially for a good reason too. It was hard money, but it was too slow and way too costly to transport. Not just the weight, but the amount of security needed to defend the shipment Share this post Link to post Share on other sites
Cdub100 3,907 Posted December 24, 2022 My Tax Software suggested I tax loss harvest my DOT. Anyone else do this? Share this post Link to post Share on other sites
WhiteWonder 2,735 Posted January 12, 2023 pondering selling my ETH soon Share this post Link to post Share on other sites
WhiteWonder 2,735 Posted January 12, 2023 On 12/24/2022 at 12:27 PM, Cdub100 said: My Tax Software suggested I tax loss harvest my DOT. Anyone else do this? it's been a while since I owned actual crypto. My most recent trades have all been on robinhood, simply trading like a stock. How do taxes currently work with "physical" crypto? I remember at some point they had no idea how they wanted to handle it and tax software just started asking if you bought or sold any crypto during the year, separate from your other capital gains tax reporting. Honestly had no idea you were allowed to use crypto losses to offset anything Share this post Link to post Share on other sites
Cdub100 3,907 Posted January 12, 2023 1 minute ago, WhiteWonder said: it's been a while since I owned actual crypto. My most recent trades have all been on robinhood, simply trading like a stock. How do taxes currently work with "physical" crypto? I remember at some point they had no idea how they wanted to handle it and tax software just started asking if you bought or sold any crypto during the year, separate from your other capital gains tax reporting. Honestly had no idea you were allowed to use crypto losses to offset anything IRS considers crypto as property and there's no rules against wash trading.... Currently. Unfortunately it takes 28 days to unlock my DOT so I didn't get to do it. Share this post Link to post Share on other sites
WhiteWonder 2,735 Posted January 12, 2023 1 minute ago, Cdub100 said: IRS considers crypto as property and there's no rules against wash trading.... Currently. Unfortunately it takes 28 days to unlock my DOT so I didn't get to do it. yeah I just did some quick reading and I guess at some point they decided to treat crypto gains tax similarly to stock gains with short term and long term and allowing losses to offset gains plus additional 3k and rollover losses. I could be mistaken but I thought a few years ago they were treating all crypto as short term and taxing at higher rates. So that's cool. with that in mind, tax loss harvesting makes just as much sense for crypto as it does for any stock if you believe that crypto/stock will rebound the following year. Sell in early december and buy back in early January. At least for stocks, just wait the 30 days before buying back. It's a slight gamble that it doesn't rise rapidly during your wash period... There have been some cases where i've wondered why I didn't harvest after it was too late. Share this post Link to post Share on other sites
Frozenbeernuts 2,264 Posted January 14, 2023 Bitcoin up nearly 30% over the past week. Who knows if it stays above 20k in the short term, but its an important reminder that it doesn't take much for bitcoin to bring big returns. I will of course be coming back periodically to tea bag all of the people who said bitcoin is useless and or dead while it marches to 1MM over the coming years/decades Share this post Link to post Share on other sites
Cdub100 3,907 Posted January 14, 2023 20 minutes ago, Frozenbeernuts said: Bitcoin up nearly 30% over the past week. Who knows if it stays above 20k in the short term, but its an important reminder that it doesn't take much for bitcoin to bring big returns. I will of course be coming back periodically to tea bag all of the people who said bitcoin is useless and or dead while it marches to 1MM over the coming years/decades I think I'm going to take some profits and rebuy when it dips again Share this post Link to post Share on other sites
WhiteWonder 2,735 Posted January 14, 2023 24 minutes ago, Frozenbeernuts said: Bitcoin up nearly 30% over the past week. Who knows if it stays above 20k in the short term, but its an important reminder that it doesn't take much for bitcoin to bring big returns. I will of course be coming back periodically to tea bag all of the people who said bitcoin is useless and or dead while it marches to 1MM over the coming years/decades just don't forget to come back when it also trends down and people will respect you more Share this post Link to post Share on other sites
WhiteWonder 2,735 Posted January 14, 2023 4 minutes ago, Cdub100 said: I think I'm going to take some profits and rebuy when it dips again my 9 ETH I bought are up ~$440 per. Was tempted to sell now but going to hold as I think theres a little more room to run. Share this post Link to post Share on other sites
Shooter McGavin 618 Posted January 14, 2023 2 hours ago, Frozenbeernuts said: Bitcoin up nearly 30% over the past week. Who knows if it stays above 20k in the short term, but its an important reminder that it doesn't take much for bitcoin to bring big returns. I will of course be coming back periodically to tea bag all of the people who said bitcoin is useless and or dead while it marches to 1MM over the coming years/decades Btc at $70k, dude says it's going to a million, crashes to $15k, bumps to $20k, dude praises the rise and says he will tea bag everyone. Alright. 1 1 Share this post Link to post Share on other sites
Shooter McGavin 618 Posted January 14, 2023 1 hour ago, Cdub100 said: I think I'm going to take some profits and rebuy when it dips again I probably should take profit, but I've decided my long-term strategy is to hold and collect interest on my cryptos. At some point (IF) I need some money I would take a loan against my crypto assets. That way I'm not paying taxes on profit, I still own my assets and continue to capture the growth. The other reason I don't sell is crypto is traded 24/7/365. It moves so fast and so explosively by the time I'm ready buy/sell I may have missed the pump. So I don't even play that game. I just wait. I absolutely lose out in some ways by not trading, but long term, for me, it's the best strategy (for me). Every Monday morning I go through all my accounts and update my tracker. I love clicking the transfer button and seeing I'm getting closer and closer to replacing my weekly salary with crypto interest payments. God bless those of you who trade. It's just not for me. Share this post Link to post Share on other sites
Cdub100 3,907 Posted January 14, 2023 5 minutes ago, Shooter McGavin said: I probably should take profit, but I've decided my long-term strategy is to hold and collect interest on my cryptos. At some point (IF) I need some money I would take a loan against my crypto assets. That way I'm not paying taxes on profit, I still own my assets and continue to capture the growth. The other reason I don't sell is crypto is traded 24/7/365. It moves so fast and so explosively by the time I'm ready buy/sell I may have missed the pump. So I don't even play that game. I just wait. I absolutely lose out in some ways by not trading, but long term, for me, it's the best strategy (for me). Every Monday morning I go through all my accounts and update my tracker. I love clicking the transfer button and seeing I'm getting closer and closer to replacing my weekly salary with crypto interest payments. God bless those of you who trade. It's just not for me. Yep that was me. My thinking changed after losing as much as I did in the Celsius debacle. I would love to sit back and keep collecting interest but that blew up. I plan on talking profits from time to time. I only sold 10% of my holdings. Share this post Link to post Share on other sites
Cdub100 3,907 Posted January 14, 2023 Sold 10% of my BTC stack at $20,888 Share this post Link to post Share on other sites
Frozenbeernuts 2,264 Posted January 16, 2023 On 1/14/2023 at 1:51 PM, Cdub100 said: I think I'm going to take some profits and rebuy when it dips again Probably not a bad move, but I'm not a trader so I'm not playing with fire Share this post Link to post Share on other sites
Frozenbeernuts 2,264 Posted January 16, 2023 On 1/14/2023 at 1:55 PM, WhiteWonder said: just don't forget to come back when it also trends down and people will respect you more You misunderstand why I'm here. Short term price is so fickle. It very well could drop again. I'm not in this space to get all hot over short term price fluctuations. My post is more of a reminder to people that bitcoin isn't dead, and in fact is in a stronger position than ever. Share this post Link to post Share on other sites
Cdub100 3,907 Posted January 16, 2023 2 minutes ago, Frozenbeernuts said: Probably not a bad move, but I'm not a trader so I'm not playing with fire Me either. I do okay trading but I don't like to do it. I only sold 10% and giving swing trading a try. Share this post Link to post Share on other sites
WhiteWonder 2,735 Posted January 16, 2023 5 hours ago, Frozenbeernuts said: You misunderstand why I'm here. Short term price is so fickle. It very well could drop again. I'm not in this space to get all hot over short term price fluctuations. My post is more of a reminder to people that bitcoin isn't dead, and in fact is in a stronger position than ever. I understand exactly why you’re here lol. Okay but when you wait to make a post like that until it crossed 20k, that in fact says you do care about the short term. Otherwise there’s no need to make that post as you’ve already stated it’s going much higher. Share this post Link to post Share on other sites