Cryptocurrency

[jonmx 2,429]

Still holding....SOL, ChainLink, and BTC.   Seems like they are bouncing a bit after the correction earlier today.   Added a position in AVAX on the pullback.  

 Not sure how the market will react to the SEC decision on the ETF applications.  Should be very volatile.  I expect the markets will move up a bit leading up to the decision. Then some wild action in both directions.  

[edjr 6,580]

On 12/25/2023 at 9:34 PM, Alias Detective said:

I was wrong.

You're a geek. You are not allowed to say such rubbish

[Alias Detective 1,394]

43 minutes ago, edjr said:

You're a geek. You are not allowed to say such rubbish

1st time in 2023.  It was bound to happen.

[iam90sbaby 2,589]

17 hours ago, jonmx said:

Still holding....SOL, ChainLink, and BTC.   Seems like they are bouncing a bit after the correction earlier today.   Added a position in AVAX on the pullback.  

 Not sure how the market will react to the SEC decision on the ETF applications.  Should be very volatile.  I expect the markets will move up a bit leading up to the decision. Then some wild action in both directions.  

I think you should sell everything other than BTC and ETH before you get absolutely wrecked.  Seriously.

[jonmx 2,429]

13 minutes ago, iam90sbaby said:

I think you should sell everything other than BTC and ETH before you get absolutely wrecked.  Seriously.

I appreciate the suggestion.   My portfolio is up 400 percent relative to BTC and ETH over the last several weeks.   I will probably put 20 percent into USDT before the ETC announcements just to see how it shakes out.   There is usually some short term sell on the news effects.   I may balance out my portfolio as the current balances weigh very heavily on SOL.  Probably an even balance of SOL-ETH-BTC-LINK-AVAX-USDT.  

[iam90sbaby 2,589]

39 minutes ago, jonmx said:

I appreciate the suggestion.   My portfolio is up 400 percent relative to BTC and ETH over the last several weeks.   I will probably put 20 percent into USDT before the ETC announcements just to see how it shakes out.   There is usually some short term sell on the news effects.   I may balance out my portfolio as the current balances weigh very heavily on SOL.  Probably an even balance of SOL-ETH-BTC-LINK-AVAX-USDT.  

I would take your profits and move them to BTC ETH. When the market is bull alt coins always have crazy gains but the second this market goes bear again they're going to lose 70-80 percent of their value. Don't get greedy. You caught a wave, sell while you're in the green. Repeat every 1.5-2 years.

[Cdub100 3,894]

Judge has approved the end of the Celsius Network chap 11. I'm told I should expect my BTC and ETH distribution in Jan or Feb. Mining Co. equity hopefully in the spring or summer. 

[edjr 6,580]

I miss Gutterboy

[Frozenbeernuts 2,239]

Already tripled my initial investment in pawswap. It's going to 100x from here probably. 1000x is also doable.

[iam90sbaby 2,589]

On 12/27/2023 at 8:22 PM, Cdub100 said:

Judge has approved the end of the Celsius Network chap 11. I'm told I should expect my BTC and ETH distribution in Jan or Feb. Mining Co. equity hopefully in the spring or summer. 

How much will you recover?

[iam90sbaby 2,589]

5 hours ago, Frozenbeernuts said:

Already tripled my initial investment in pawswap. It's going to 100x from here probably. 1000x is also doable.

Good call on that. You recommended that back in October and it's up 300ish% since you recommended it. Not sure why you are getting a laugh react, haters gonna hate.

[Cdub100 3,894]

7 minutes ago, iam90sbaby said:

How much will you recover?

It's hard to say, but probably 30-40% of my coins (paid back in BTC and ETH) and then a bunch of stock in a new mining company. I'll also get random checks when they sell illiquid assets.

FTX customers are getting even more focked over.

[iam90sbaby 2,589]

6 minutes ago, Cdub100 said:

It's hard to say, but probably 30-40% of my coins (paid back in BTC and ETH) and then a bunch of stock in a new mining company. I'll also get random checks when they sell illiquid assets.

FTX customers are getting even more focked over.

Will it be the equivalent in USD when you invested or if you had 10 ETH you'll get back 4-6 ETH? Depending on when you invested if you get the latter option you might not even take that big of a L.

Still glad you're recovering some, that really sucks. 

[Cdub100 3,894]

9 hours ago, iam90sbaby said:

Will it be the equivalent in USD when you invested or if you had 10 ETH you'll get back 4-6 ETH? Depending on when you invested if you get the latter option you might not even take that big of a L.

Still glad you're recovering some, that really sucks. 

It's a big L for me. The price of crypto doesn't really matter. I mean it does, but it doesn't.

The best way I can explain it is Celsius has 100 BTC. They owe the creditors 200 BTC. No matter what the price of BTC is my % of that pot remains the same because in bankruptcy law the price at the petition date is locked in and it's the same for everyone.

Where price matters and this is where FTX creditors are getting focked over. Their BTC price is locked in at 16k. Instead of holding crypto like Celsius did. FTX is selling its crypto and paying out in USD petition price. If BTC gets high enough FTX can pay everyone in USD and make them dollar whole in the eyes of the court. E.G you had one BTC on FTX instead of getting 45k USD you get 16k USD and they keep the rest. 

[iam90sbaby 2,589]

3 hours ago, Cdub100 said:

It's a big L for me. The price of crypto doesn't really matter. I mean it does, but it doesn't.

The best way I can explain it is Celsius has 100 BTC. They owe the creditors 200 BTC. No matter what the price of BTC is my % of that pot remains the same because in bankruptcy law the price at the petition date is locked in and it's the same for everyone.

Where price matters and this is where FTX creditors are getting focked over. Their BTC price is locked in at 16k. Instead of holding crypto like Celsius did. FTX is selling its crypto and paying out in USD petition price. If BTC gets high enough FTX can pay everyone in USD and make them dollar whole in the eyes of the court. E.G you had one BTC on FTX instead of getting 45k USD you get 16k USD and they keep the rest. 

God damn what a mess. You'll make it all back and some.

[Cdub100 3,894]

51 minutes ago, iam90sbaby said:

God damn what a mess. You'll make it all back and some.

Yeah it's legal stealing... 

[Frozenbeernuts 2,239]

It's looking like JP Morgan is getting ready for the ETF approval. A reason why wall street hasn't publicly gotten into bitcoin yet is because of the regulation issues that haven't been cleared up yet. This etf solves that (unless they want to hold their own coins)

I don't think the etf is priced in. It should be approved in 1 or 2 weeks.

[Frozenbeernuts 2,239]

20 hours ago, iam90sbaby said:

Good call on that. You recommended that back in October and it's up 300ish% since you recommended it. Not sure why you are getting a laugh react, haters gonna hate.

Thanks man. This one should make a massive run during the bull.

They are afraid of volatility. It scares them, even when it's obviously to the open side. I don't get it

[Frozenbeernuts 2,239]

Probably nothing guys. Waiving fees for first $5 billion into the etf. I'm sure it's not a sign at all. And this is just one etf. Yep nothing to see here. If you aren't into bitcoin yet, definitely don't get in right before the etfs are approved and go live

[Frozenbeernuts 2,239]

Bitwise is going to seed their etf with $200 M

[Frozenbeernuts 2,239]

Fidelity with the cheapest rate so far

[Frozenbeernuts 2,239]

Jamie Dimon talks out of one side of his mouth and buys bitcoin out of the other. He was just on capital hill saying that he would shut crypto down, yet here he is in the middle of wall street aping in.

[Frozenbeernuts 2,239]

 

[nobody 2,654]

I see you're still in the stage where you need people to validate you by trumpeting wins. 

I suppose you'll eventually learn that there isn't much upside to that.  Just quietly accumulating wealth is the best play.  For one, unless you're a rapper, you don't want people to know you have money, and second, you probably don't want to be in a situation where someone is blaming you for losing money.

[jonmx 2,429]

On 12/29/2023 at 7:47 PM, Frozenbeernuts said:

Jamie Dimon talks out of one side of his mouth and buys bitcoin out of the other. He was just on capital hill saying that he would shut crypto down, yet here he is in the middle of wall street aping in.

Wall Street is home to some of the most corrupt institutions we have.   Never believe anything they tell you or what is printed in the news.   They manipulate markets and pit out false information all the time...

 

[jonmx 2,429]

On 12/29/2023 at 7:44 PM, Frozenbeernuts said:

Bitwise is going to seed their etf with $200 M

 

I am not sure why anyone would invest in EFTs unless they had no choice.   Why not just own the real thing?   If those institutuins or EFTs go under, you are SOL, and the paper they printed is worthless.

[Frozenbeernuts 2,239]

7 hours ago, jonmx said:

 

I am not sure why anyone would invest in EFTs unless they had no choice.   Why not just own the real thing?   If those institutuins or EFTs go under, you are SOL, and the paper they printed is worthless.

Agreed completely. I would never buy an etf. When the dollar is worthless, having shares in an etf is not going to matter. Having the real thing is going to matter.

Etfs still give corporations a more clear investment vehicle. Michael Saylor has pulled it off, but from what I have read he is in a bit of a special position to do so.

These etf applicants are listing their seed amounts. That's just to get the funding started. Who knows how much will flow in from the outside. These etfs need to match the dollars with bitcoin 1:1

[Cdub100 3,894]

10 hours ago, Frozenbeernuts said:

Agreed completely. I would never buy an etf. When the dollar is worthless, having shares in an etf is not going to matter. Having the real thing is going to matter.

Etfs still give corporations a more clear investment vehicle. Michael Saylor has pulled it off, but from what I have read he is in a bit of a special position to do so.

These etf applicants are listing their seed amounts. That's just to get the funding started. Who knows how much will flow in from the outside. These etfs need to match the dollars with bitcoin 1:1

It's for financial advisors and other entities that aren't allowed to invest in the crypto asset. 

[WhiteWonder 2,723]

What are you experts thoughts on Cipher Mining? (CIFR)

Thought about buying some in early Dec around 2.33, and didn't. I liked that it had popped off similar prices in Sept and June

I love my swing trades. Confidence that it would bounce up if it falls to those levels again? Up from its 4.30 right now? Doesn't seem to react necessarily in kind with BTC price.

[Frozenbeernuts 2,239]

It sounds like existing funds are adjusting their rules to allow investment into bitcoin etfs.

[Frozenbeernuts 2,239]

Jim Cramer just capitulated. He even admitted Charlie Munger was blind to bitcoin. Which means he's admitting Warren Buffet is wrong about it also. This is a big shift considering how anti bitcoin he has been.

Yes Jim Cramer is still a fool

[Cdub100 3,894]

3 hours ago, Frozenbeernuts said:

Jim Cramer just capitulated. He even admitted Charlie Munger was blind to bitcoin. Which means he's admitting Warren Buffet is wrong about it also. This is a big shift considering how anti bitcoin he has been.

Yes Jim Cramer is still a fool

Cramer kills everything he likes. When I read this last night I knew I should have closed my longs.

[edjr 6,580]

NOSE DIVE!

BUY BUY  BUY!! 

−2,404.40 (5.35%)today

[jonmx 2,429]

Nothing kills a bull market faster than a Jim Cramer pump.   

I think all these applications have intentional technical flaws that will guarantee rejection.  They want to tank the market prior to getting approval.  

[Alias Detective 1,394]

Frozenbeernuts must of stopped thinking he is rich and making money is easy. 

 

Get back to manifesting!!!

[jonmx 2,429]

Martha Steward gets prison time because she and her broker supposed used inside info to make a few thousand dollars.

These Wall Street bastards put of misinformation and then leak what should be inside information to drive the market down by billions and billions.   They all will be picking up shares at big discounts in the mean time.   I have no idea who the SEC really protects because it ain't the people. 

[Hardcore troubadour 15,282]

2 hours ago, jonmx said:

Nothing kills a bull market faster than a Jim Cramer pump.   

I think all these applications have intentional technical flaws that will guarantee rejection.  They want to tank the market prior to getting approval.  

Gutterboy says what about me? 

[nobody 2,654]

2 hours ago, jonmx said:

Martha Steward gets prison time because she and her broker supposed used inside info to make a few thousand dollars.

These Wall Street bastards put of misinformation and then leak what should be inside information to drive the market down by billions and billions.   They all will be picking up shares at big discounts in the mean time.   I have no idea who the SEC really protects because it ain't the people. 

Alex Left or whatever his name is is the worst.  What he did to Ubiquiti should've put him in jail.

[jonmx 2,429]

11 minutes ago, nobody said:

Alex Left or whatever his name is is the worst.  What he did to Ubiquiti should've put him in jail.

But they never are.  As long as you are part of the elitist establishment mob, you can get away with anything.  Play by mob rules and walk in lockstep. 

[jonmx 2,429]

I would guess the goal is to drive BTC back down to $30k or even $20k.   They want their 20x or 30x gains.  It may be April before the ETFs are approved.  And all the SEC folks will be lining their pockets.