Cryptocurrency

[Cdub100 3,381]

6 minutes ago, nobody said:

1. that wasn't the original investment thesis.  It was "OMG, it's going to a trillion because fiat is dumb," and don't forget, "OMG, they can't track you!"

2. It's accidentally a hedge against inflation in the sense that appreciated in value over time.  So did stocks, but when inflation became an issue and interest rates started rising, if it really was a hedge against inflation, it would've went up and not lost 60% of it's value.  Again, right for the wrong reasons.  Dumb luck.

4. Listen to yourself.  Fiat is a scam, but the mere invention of a trading vehicle around bitcoin increases it's inherent value?  An ETF has absolutely nothing to do with the underlying asset.  It creates additional demand.  That has do with market forces.  It speaks nothing to the inherent value of the underlying asset.  Just like a gold ETF doesn't make the inherent value of gold higher. What you're cheering is that an artificial market force is going to potentially make the price go up, which is already baked in anyway.  The second that ETF became a real thing, all the hedge funds bought it waiting for the retail casual investors to come in so they can sell their bitcoin to them for a quick profit.  That's where the phrase "buy the rumor and sell the news" comes from.  But once again.  You'll probably accidentally be right again though.  Once the fed stops raising rates, the speculation market should heat up again.

Pretty much all of what you said is wrong.

Go look at what happened to gold once the first ETF was issued. 

Also when the Fed stops raising rates that's the sign of a recession. When they start cutting you better hope you don't hold a lot of stocks because that market will crash.

[nobody 2,043]

Jesus

[Cdub100 3,381]

8 minutes ago, nobody said:

Jesus

Yeah... imagine spewing all your BS and being so completely wrong.

[GutterBoy 2,281]

8 hours ago, Cdub100 said:

Yeah... imagine spewing all your BS and being so completely wrong.

Just so we're clear, you're the guy that lost his family's life savings buying Bitcoin and giving it to Celsius, right?

[nobody 2,043]

Doesn't even know the difference between price and value.  

[TimHauck 1,801]

49 minutes ago, GutterBoy said:

Just so we're clear, you're the guy that lost his family's life savings buying Bitcoin and giving it to Celsius, right?

Not your keys, not your crypto!!

[jonmx 1,593]

11 hours ago, nobody said:

People don't use credit cards because they have money and it's convenient.  They use credit cards because they don't have the money and still want to buy stuff.

Crypto doesn't fix that.  They're just making borrowing mechanisms in the block chain.  One potentially good thing about that could be lower interest rates, but it's not going to solve debt.  nor would you want it to.  Even if you tried to keep dumb folks from accruing too much debt, the wokies would claim it's racist or some nonsense.

The debt caused by the federal reserve printing money is a scam.  That debt can never be paid back. They print $100, but not the $6 of interest.  The system only has $100 in it, the interest it creates is unpayable.   That is a fatal flaw in the system, the central banks endlessly grow while the people are left helplessly chasing a debt which is impossible to ever pay down. That is why the gold standard was superior, and crypto is as well. I am not trying to eliminate real debt of individuals borrowing money from others.  That debt is payable by the money within the system.  But the act of putting money into the system should not create interest-bearing debt.  JFK temporaily fixed this by printing US Notes shortly before he took a bullet to the head. 

[jonmx 1,593]

47 minutes ago, nobody said:

Doesn't even know the difference between price and value.  

Sure, but Google did not have much value when it first hit the scene.   Price is based on speculation of future value.  If you have no vision of what it can become, you are provably wise to avoid it.  

[Cdub100 3,381]

1 hour ago, GutterBoy said:

Just so we're clear, you're the guy that lost his family's life savings buying Bitcoin and giving it to Celsius, right?

My mistake wasn't investing in BTC and ETH it was trusting the jew Alex Mashinsky with my crypto. 

 

[jonmx 1,593]

On 10/22/2023 at 6:54 PM, jonmx said:

 

Link is up 30 percent the last couple of days.  Went from 1/3 to over 1/2 of my crypto portfolio. 

Probably need to be careful because it is real close to $10 where I am sure there will be a sell off.  But if BTC can stay above $30k, LINK may keep pushing up.  

Now Link is testing $15 on increasing volume.   Was at $7.11 three weeks ago.   Some people are accumulating a shet ton.

[jonmx 1,593]

The market is all taking another leg up.  SOL and LINK have now nearly doubled my crypto portfolio in the last few weeks.  Crazy good.  Institutions must be buying. 

[Frozenbeernuts 1,652]

Institutional investors were not completely integrated into the last bull run. A lot of them missed out. They aren't going to let that happen again. This cycle is going to be just as crazy as the last 2.

[Mike Honcho 4,036]

Question, is this crypto coin stuff in anyway related to the coins I used to collect playing Mario Kart?

[Cdub100 3,381]

23 minutes ago, Mike Honcho said:

Question, is this crypto coin stuff in anyway related to the coins I used to collect playing Mario Kart?

Exactly the same. 1 for 1 conversion 

[frank 2,145]

47 minutes ago, Cdub100 said:

Exactly the same. 1 for 1 conversion 

 

[TimHauck 1,801]

1 hour ago, Frozenbeernuts said:

Institutional investors were not completely integrated into the last bull run. A lot of them missed out. They aren't going to let that happen again. This cycle is going to be just as crazy as the last 2.

More billion dollar frauds to be expected?

[Frozenbeernuts 1,652]

15 hours ago, TimHauck said:

More billion dollar frauds to be expected?

100% there will be fraudsters everywhere. Almost the entire industry outside of bitcoin is a giant fraud anyway. It's a casino. It's all about trying to dump your bags before someone else does, bitcoin as the exception of course.

[Frozenbeernuts 1,652]

Just melting upward. No need for God candles when it's running a few points a day. It's great to see.

[TimHauck 1,801]

 

 

[The Psychic Observer 194]

https://www.reuters.com/markets/us/us-authorities-set-unveil-settlement-with-binance-source-2023-11-21/

Binance broke U.S. anti-money laundering and sanctions laws and failed to report more than 100,000 suspicious transactions with organizations the U.S. described as terrorist groups including Hamas, al Qaeda and the Islamic State of Iraq and Syria, authorities said.

The exchange also never reported transactions with websites devoted to selling child sexual abuse materials and was one of the largest recipients of ransomware proceeds, they said.

[Frozenbeernuts 1,652]

 

[Cdub100 3,381]

My current Crypto:

BTC - Continue to DCA

SOL - Staked to Node/Ledger (Continue to DCA)

ETH - Staked to Node/Ledger (Continue to DCA)

ADA - Staked to Node/Ledger (no longer buying)

DOT -  Staked to Node/Ledger (no longer buying)

Theta/TFUEL/Tdrop - Staked to Node/Running on a computer in my basement (no longer buying)

Shib - HODL position (no longer buying) very small amount in liquidity pool on shibswap

XRP - HODL position (no longer buying)

Celsius Network Chap 11. Update - SEC had a problem with the exit plan so the NewCo is switching to an all BTC mining company. Which I think is good for me since the ETH they were keeping to stake SHOULD be returned to us which increases our crypto return. However, that will probably decrease the value of NewCo shares. It is estimated crypto in the form of BTC/ETH will be returned to us in January with NewCo shares issued sometime next year.

 

Everything above other than Theta is on my ledger. I have little to no crypto on exchanges. I'm currently using Coinbase to DCA and crypto.com to buy/hold some random small coins that aren't worth the fee to take off. I also pulled the $78 in BTC I had on Binance.

[Frozenbeernuts 1,652]

 

[peenie 1,690]

Jesus coin went up.

[Frozenbeernuts 1,652]

 

[jonmx 1,593]

20 hours ago, peenie said:

Jesus coin went up.

We all knew it would rise again. 

[Frozenbeernuts 1,652]

 

[nobody 2,043]

Frozenbeernuts is rich again!

[Frozenbeernuts 1,652]

 

[Frozenbeernuts 1,652]

I cannot imagine the feeling people are having right now watching bitcoin rip yet again and still not own any.

This is nothing BTW. The top, which won't be until 2025 most likely, is going to be multiples higher than right now. A solid chance of it being over $300k/coin.

Bitcoin will go up forever. For the simple fact that there is a limited amount of bitcoin and there is an infinite amount of dollars.

[Frozenbeernuts 1,652]

 

[Frozenbeernuts 1,652]

 

[Cdub100 3,381]

1 hour ago, Frozenbeernuts said:

 

Feels good man.

[Frozenbeernuts 1,652]

2 hours ago, Cdub100 said:

Feels good man.

It feels great. Michael Saylor went from $1.6 B in the black to $2.2. He issued so much cheap debt to buy more bitcoin. Guys were slobbering at the thought of getting a 6% coupon from Microstrategy. It's going to look so lopsided in the near future.

I wonder what company is going to follow the blue print next.

I also can't imagine all the rich people who haven't bought in yet sitting out yet another bull run and missing out. But who knows. The economy seems to be on the Brink of something. Not sure how that will affect risk assets.

Bitcoin is the scarcest asset there is.

[jonmx 1,593]

Gotta love Solana.  On December 7, an article comes out prediction SOL could reach $70 by the end if the year.  On December 8th, SOL is trading above $77. 

[jonmx 1,593]

Been dumping a portion of my profit from LINK and SOL into BONK recently and that has been fun.  Not sure how much gas BONK has left in the tank, but it has been flying recently. 

[Cdub100 3,381]

49 minutes ago, jonmx said:

Been dumping a portion of my profit from LINK and SOL into BONK recently and that has been fun.  Not sure how much gas BONK has left in the tank, but it has been flying recently. 

I've been enjoying leverage trading Bonk.  I also own a small position of Bonk and SNEK

[Frozenbeernuts 1,652]

Wall Street is getting ready to spend $100 million in marketing for bitcoin. The ETFs are still not a sure thing, but odds seem really good that the SEC will finally step aside. Imagine what the price of bitcoin is going to do when you have wall street actively benefiting from its success.

These next 2 years are going to be wild. Anyone who is praying bitcoin silently dies so that they don't have to be pissed at themselves for not buying any are going to have a long 2 years.

Do yourself a favor and just buy $100 worth of bitcoin. If it goes to 0, no biggy, right? If it goes 10x this cycle, hey you can take a nice little weekend somewhere.

[Frozenbeernuts 1,652]

And so the war for your bitcoin dollars on Wall street begins

 

https://youtu.be/nl3pNXbfDc0?si=pIi5EPJOMAf1xpiK

[tubby_mcgee 686]

On 11/6/2023 at 9:02 PM, Cdub100 said:

When they start cutting you better hope you don't hold a lot of stocks because that market will crash.

Well, I agree with the last 4 words.  I think it will crash at some point, yes.  It always does at some point. 

The market has crashed a handful of times in my lifetime.  100% of the time, it's came back and went wayyyyy over the the pre-crash price. 

I guess I'd add a piece to it.

"When the market crashes, you'd better hope that you don't need to pull all of your money out of the market at that point--because then you'll lose a lot of money"