Cryptocurrency

[Cdub100 3,838]

36 minutes ago, WhiteWonder said:

Yeah but you conveniently left out that part where DCA generally results in your average purchase price going down

I didn't leave it out because that doesn't make sense. You are also confusing DCA with averaging down. 

 

[GutterBoy 2,898]

CDub is right.  You can DCA while the value is increasing and end up with a higher cost.

I assumed he was averaging down but used the term DCA since he's not smart.  He has also talked in the past about putting as much money as he can into crypto as soon as he can, which contradicts a DCA strategy.  He might be full of sh!t too, actually it's likely.  But it is possible he takes a portion of his paycheck and invests into crypto and calls it DCA, which isn't technically DCA, since DCA implies that you have the cash on hand and you're just investing over time to take advantage of possible weakness.

[WhiteWonder 2,675]

10 minutes ago, Cdub100 said:

I didn't leave it out because that doesn't make sense. You are also confusing DCA with averaging down. 

 

Nope. There is a clear difference. However DCA allows you to buy less when prices are higher and more when prices are lower. 

[WhiteWonder 2,675]

10 minutes ago, GutterBoy said:

CDub is right.  You can DCA while the value is increasing and end up with a higher cost.

Yes you can and I probably didn’t word my post correctly. I just generally see DCA as a way to continue buying an asset on a schedule without buying too much as it rises and buying more as it drops which generally leads to lowering your average price. 
 

this is not the same as averaging down. 

[Cdub100 3,838]

15 minutes ago, GutterBoy said:

But it is possible he takes a portion of his paycheck and invests into crypto and calls it DCA, which isn't technically DCA, since DCA implies that you have the cash on hand and you're just investing over time to take advantage of possible weakness.

This is exactly what I do and it's absolutely DCAing. Every two weeks I get paid (cash on hand) and I set a small amount aside for investing. I buy the same coins BTC, and a few others including SOL (which I added to my DCA strat a little while ago.) You're also wrong about taking advantage of a possible weakness that has nothing to do with DCAing. I buy when it's high and when it's low. The whole point of DCA is NOT trying to time the market or think hey the price is below my average cost so I should buy more. No that's different.

I sold VeChain last week and bought some SOL and a couple of other coins. That's not DCA. That's me consolidating my positions and moving into stronger technologies I believe in. You could call that averaging down or trying to take advantage of possible weakness and I would agree. 

When grandma gives me $10 for my birthday and I invest that money that's not DCA either.

Another example of DCA. At the end of every month, I buy the same index funds in my ROTH IRA: $200 ea of FDSCX FIDELITY STOCK SELECTOR SMALL CAP, FMEIX FIDELITY MID CAP ENHANCED INDEX FUND, FSPGX FIDELITY LARGE CAP GROWTH INDEX FUND. I could drop $6000 into my ROTH and call it a year but I would rather buy every month to spread out purchases.

 

[Horseman 2,366]

6 hours ago, WhiteWonder said:

Yes you can and I probably didn’t word my post correctly. I just generally see DCA as a way to continue buying an asset on a schedule without buying too much as it rises and buying more as it drops which generally leads to lowering your average price. 
 

this is not the same as averaging down. 

Over the long haul, as stock market goes up, your cost basis goes up too. Generally its lower than IF you had waited. 

[Horseman 2,366]

6 hours ago, GutterBoy said:

CDub is right.  You can DCA while the value is increasing and end up with a higher cost.

I assumed he was averaging down but used the term DCA since he's not smart.  He has also talked in the past about putting as much money as he can into crypto as soon as he can, which contradicts a DCA strategy.  He might be full of sh!t too, actually it's likely.  But it is possible he takes a portion of his paycheck and invests into crypto and calls it DCA, which isn't technically DCA, since DCA implies that you have the cash on hand and you're just investing over time to take advantage of possible weakness.

Wrong. It’s DCAing compared to waiting and holding trying to time the bottom with a larger amount.  You’ll have lesser success doing that. 

And if you had a large chunk of cash you’re better off investing now than trying to DCAing unless you know how to predict lows, which nobody does.

Best is looking for buy signals in the very short term taking advantage of both. 

[Alias Detective 1,389]

Is the concept of staking still working?  This is for @Cdub100

[Cdub100 3,838]

25 minutes ago, Alias Detective said:

Is the concept of staking still working?  This is for @Cdub100

Yes, it's still very much working. 

The question right now is, Is the ease of staking and the yield generated with XYZ company worth the risk of losing your crypto. Or are you better off keeping your coins off the exchange and either running your own node to generate yield (which is harder and carries its own risk).

There are added issues with the SEC preventing companies from providing yield and of course with what is going on with Celsius. 

Does that answer your question or did I miss something?

[Big Guy 1,410]

because the World Banking system is evil and corrupt, this crap is all gonna crash and burn

unless of course they adopt it all to further themselves and honor it, then you'll be sitting pretty

I for one wish I had that $500 back and put it towards a solar generator or rice

[TimHauck 2,619]

Coinbase CEO buys $133 million house...then lays off 18% of workers

https://nypost.com/2022/06/14/coinbase-lays-off-18-of-workers-ceo-warns-of-crypto-winter/

[GutterBoy 2,898]

Margin call time saylor, you retarded kid

[Alias Detective 1,389]

I legitimately feel bad for FBN.  As always, it could turn around but one must have incredible conviction to ride this wave out.

[edjr 6,578]

Crypto Winter is Coming

[Cdub100 3,838]

14 minutes ago, edjr said:

Crypto Winter is Coming

It's here and has been snowing for months. Right now we are in the middle of a blizzard.

[edjr 6,578]

1 minute ago, Cdub100 said:

It's here and has been snowing for months. Right now we are in the middle of a blizzard.

The Earth has a fever

[GutterBoy 2,898]

1 hour ago, Alias Detective said:

I legitimately feel bad for FBN.  As always, it could turn around but one must have incredible conviction to ride this wave out.

I can see that.  I also feel bad for the people that were hoodwinked by crypto culture.  In order for crypto to take off, they had to treat this like a cult, to get more people to throw money in, and these cult members are gonna get focked.

[Cdub100 3,838]

12 minutes ago, edjr said:

The Earth has a fever

and the only solution is more cowbell

[Hardcore troubadour 14,934]

Potsie and Ralph Malph got focked. Fonzi bought a mansion. 

[Cdub100 3,838]

I bought Bitcoin and Solana today. 

[Alias Detective 1,389]

5 minutes ago, Cdub100 said:

I bought Bitcoin and Solana today. 

I admire the tenacity and truly hope you make a fortune.

[GutterBoy 2,898]

6 minutes ago, Alias Detective said:

I admire the tenacity and truly hope you make a fortune.

Never let your loyalty make a fool of you.

[Gepetto 1,289]

 

 

[Cdub100 3,838]

1 hour ago, Alias Detective said:

I admire the tenacity and truly hope you make a fortune.

 

[nobody 2,564]

It seems like there is a huge disconnect in the price action in Bitcoin and the stated goal of Bitcoin, and the professional investors in Bitcoin don't seem to get it.

I heard a guest on CNBC today say that once the rate hikes curtail Bitcoin will go straight up.  First of all, the government still wants controlled inflation.  There is literally nothing new about the current economic policy in regards to inflation.  It got overheated.  Now they're trying to curtail it.  If the big deal is Bitcoin is a hedge on inflation and it needs to be 6% plus to justify a 60k valuation, why would anyone invest in it?  Did they think the fed would do nothing as inflation soared?  But, no, it trades almost lock step with the nasdaq.  That means it's a technology play on blockchain and a bet that the Bitcoin Blockchain network will become profitable in some currently unknown capacity.

It just doesn't make any sense.  The real money investors are obviously not treating bitcoin as either a currency or a store of value.  If it's not that, then what the hell is it supposed to be?

[GutterBoy 2,898]

1 minute ago, nobody said:

It seems like there is a huge disconnect in the price action in Bitcoin and the stated goal of Bitcoin, and the professional investors in Bitcoin don't seem to get it.

I heard a guest on CNBC today say that once the rate hikes curtail Bitcoin will go straight up.  First of all, the government still wants controlled inflation.  There is literally nothing new about the current economic policy in regards to inflation.  It got overheated.  Now they're trying to curtail it.  If the big deal is Bitcoin is a hedge on inflation and it needs to be 6% plus to justify a 60k valuation, why would anyone invest in it?  Did they think the fed would do nothing as inflation soared?  But, no, it trades almost lock step with the nasdaq.  That means it's a technology play on blockchain and a bet that the Bitcoin Blockchain network will become profitable in some currently unknown capacity.

It just doesn't make any sense.  The real money investors are obviously not treating bitcoin as either a currency or a store of value.  If it's not that, then what the hell is it supposed to be?

I thought the whole "hedge against inflation" was proven wrong this year.  Is anyone still saying bitcoin is a hedge against inflation with a straight face?

[nobody 2,564]

5 minutes ago, GutterBoy said:

I thought the whole "hedge against inflation" was proven wrong this year.  Is anyone still saying bitcoin is a hedge against inflation with a straight face?

People still claim it'll be currency and/or hedge against inflation/digital gold.  

My question is if that is the thesis, why the fūck are they selling it now?  Because the only way you could get this type of drop is if massive funds were dumping it, so they obviously don't believe that thesis.

[GutterBoy 2,898]

1 minute ago, nobody said:

People still claim it'll be currency and/or hedge against inflation/digital gold.  

My question is if that is the thesis, why the fūck are they selling it now?  Because the only way you could get this type of drop is if massive funds were dumping it, so they obviously don't believe that thesis.

I think they can tell who's selling based on the ledger, but I would assume it's the new money that's selling, the institutions, the funds, the people that didn't really believe any of the BS, they just wanted in on the action.

[iam90sbaby 2,489]

5 hours ago, Cdub100 said:

I bought Bitcoin and Solana today. 

Bought some ETH this morning when it almost hit 1k

[GutterBoy 2,898]

On 6/9/2017 at 9:12 AM, iam90sbaby said:

Yeah Ethereum has gone up quite a bit in the last few months, but I still think we are really really early. I can see in about 3-5 years 1 BTC or 1 ETH being worth a quarter million USD. Completely realistic.

[nobody 2,564]

5 minutes ago, GutterBoy said:

I think they can tell who's selling based on the ledger, but I would assume it's the new money that's selling, the institutions, the funds, the people that didn't really believe any of the BS, they just wanted in on the action.

My theory was that funds are leveraged to the hilt, so as soon as anything goes down, they need to start selling everything to cover their margin.  Everyone was talking about MSTR's margin call which was nothing, but I suspect the bulk of this move from 60k was the result of some giant fund's margin calls. 

Either that or funds were just chasing and got caught, but they love them some leverage.

[iam90sbaby 2,489]

29 minutes ago, GutterBoy said:

Yeah I was off, I still made a ton of money though so I'm good. I bought in early.

I do still think BTC hits a quarter million, not until the next halving though.

[edjr 6,578]

43 minutes ago, iam90sbaby said:

Yeah I was off, I still made a ton of money though so I'm good. I bought in early.

I do still think BTC hits a quarter million, not until the next halving though.

BUY BUY BUY!!  

[Cdub100 3,838]

4 hours ago, GutterBoy said:

The price of Bitcoin on that date was $2,700. Current price is 21k.

And you're laughing at him? 

[GutterBoy 2,898]

2 minutes ago, Cdub100 said:

The price of Bitcoin on that date was $2,700. Current price is 21k.

And you're laughing at him? 

He called for $250k.  He's $230k off. That's what 1000% wrong?

[GutterBoy 2,898]

He also called for $250k eth.  It's 1k.

[Cdub100 3,838]

16 minutes ago, GutterBoy said:

He called for $250k.  He's $230k off. That's what 1000% wrong?

So focking what! That makes it a bad investment? Can you show me something that performed better? Better yet show me something that you recommended that performed better.

 

 

[Cdub100 3,838]

3 minutes ago, GutterBoy said:

He also called for $250k eth.  It's 1k.

Eth was $280 on that day. A 1471.43% increase to recent all-time highs.

You're looking like a focking retard, jumping on him because his projections were off, but still massively outperformed any of your sh1tty bonds.

 

[GutterBoy 2,898]

4 minutes ago, Cdub100 said:

So focking what! That makes it a bad investment? Can you show me something that performed better? Better yet show me something that you recommended that performed better.

 

 

Did I say it was a bad investment?  Its not funny that he called for 250 and it's 1?  Stop being such a whiny b!tch.

[GutterBoy 2,898]

1 minute ago, Cdub100 said:

Eth was $280 on that day. A 1471.43% increase to recent all-time highs.

You're looking like a focking retard, jumping on him because his projections were off, but still massively outperformed any of your sh1tty bonds.

 

You have sand in your hoohaa, nancy