Cryptocurrency

[nobody 2,195]

That's weird.  When I said this is a buy the rumor sell the news situation and the ETF didn't effect the underlying value of the asset (not to be confused with the price), I was assured I was wrong and was told I was spewing BS.

[Cdub100 3,566]

31 minutes ago, nobody said:

That's weird.  When I said this is a buy the rumor sell the news situation and the ETF didn't effect the underlying value of the asset (not to be confused with the price), I was assured I was wrong and was told I was spewing BS.

You're not the only one who was right. Grayscale BTC trust is dumping hard. However, the ETFs have bought more than GBTC has dumped.

Here's the thing the traders are going to trade. Day by day Bitcoin moves into stronger hands. Supply on exchanges continues to shrink. We are getting close to the halving and I'm scared to try and trade and make a couple of % points and miss out on the rocketship.

[WhiteWonder 2,308]

1 hour ago, Cdub100 said:

You're not the only one who was right. Grayscale BTC trust is dumping hard. However, the ETFs have bought more than GBTC has dumped.

Here's the thing the traders are going to trade. Day by day Bitcoin moves into stronger hands. Supply on exchanges continues to shrink. We are getting close to the halving and I'm scared to try and trade and make a couple of % points and miss out on the rocketship.

you're one of the few, if not the only very pro crypto poster whose opinion I respect. 90sbaby to a degree. 

Let's say you're a trader like me. What 2-3 buys would you make now, or in the very near future to take advantage of a runup to the halving? (April, right?)

Would you simply go BTC?... do you think ETH would come along for the ride almost in lock step? any merit to a miner like CIFR at a low price point with easy 2x-3x potential?  SOL, even though I would need to trade that via coinbase and incur more fees than something I can buy "shares" of on robinhood/etrade?  

Open to any suggestions (along with my own research)

[Cdub100 3,566]

2 minutes ago, WhiteWonder said:

you're one of the few, if not the only very pro crypto poster whose opinion I respect. 90sbaby to a degree. 

Let's say you're a trader like me. What 2-3 buys would you make now, or in the very near future to take advantage of a runup to the halving? (April, right?)

Would you simply go BTC?... do you think ETH would come along for the ride almost in lock step? any merit to a miner like CIFR at a low price point with easy 2x-3x potential?  SOL, even though I would need to trade that via coinbase and incur more fees than something I can buy "shares" of on robinhood/etrade?  

Open to any suggestions (along with my own research)

Thank you and I appreciate that. Nobody is perfect and I've made some pretty bad calls along with some really good ones too.
To answer your question past bull runs typically go like this:
1. BTC goes up
2. Followed by L1s (Eth, SOL, DOT, ADA, Cosmos, AVAX etc...)
3. Then L2s
4. And finally the meme coins.
That's not to say some will go up out of order BONK PEPE comes to mind. 

Would you simply go BTC?... do you think ETH would come along for the ride almost in lock step?
- 40% BTC, 30% L1s, 10% Other coins, 20% cash to buy dips. Yes, eth will follow along but I like Solana right now. SOL is ETH in early 2019 IMO. This is how I structure my portfolio

any merit to a miner like CIFR at a low price point with easy 2x-3x potential?
- Yes miners can 3-5x this bull run. I hold a lot of CORE and CLSK. My concern with miners is the BTC ETF could take away from their investment base.

 SOL, even though I would need to trade that via coinbase and incur more fees than something I can buy "shares" of on robinhood/etrade?

- Look into a bridge like
https://jup.ag/
You can swap ETH for SOL. There might be less fees to buy ETH and swap to SOL Otherwise just buy on Coinbase.

As far as Robinhood I like AVAX/ETH/BTC

Always move your coins into a cold wallet and don't forget to take profits. 
 

[WhiteWonder 2,308]

49 minutes ago, Cdub100 said:

Thank you and I appreciate that. Nobody is perfect and I've made some pretty bad calls along with some really good ones too.
To answer your question past bull runs typically go like this:
1. BTC goes up
2. Followed by L1s (Eth, SOL, DOT, ADA, Cosmos, AVAX etc...)
3. Then L2s
4. And finally the meme coins.
That's not to say some will go up out of order BONK PEPE comes to mind. 

Would you simply go BTC?... do you think ETH would come along for the ride almost in lock step?
- 40% BTC, 30% L1s, 10% Other coins, 20% cash to buy dips. Yes, eth will follow along but I like Solana right now. SOL is ETH in early 2019 IMO. This is how I structure my portfolio

any merit to a miner like CIFR at a low price point with easy 2x-3x potential?
- Yes miners can 3-5x this bull run. I hold a lot of CORE and CLSK. My concern with miners is the BTC ETF could take away from their investment base.

 SOL, even though I would need to trade that via coinbase and incur more fees than something I can buy "shares" of on robinhood/etrade?

- Look into a bridge like
https://jup.ag/
You can swap ETH for SOL. There might be less fees to buy ETH and swap to SOL Otherwise just buy on Coinbase.

As far as Robinhood I like AVAX/ETH/BTC

Always move your coins into a cold wallet and don't forget to take profits. 
 

One of the big reasons I respect your opinion is that you have been willing to admit when you make mistakes, are down a bit, etc. Almost no one else is willing to admit they ever made a bad call on crypto or got in at the wrong time... which we all know can't be true. Or it's just non stop blind pumping based on posts they read on X or pro crypto podcasts. You are actually willing to have adult conversations. 

I have bought and sold ETH 3 times. Very first was through coinbase. After I bought it went way down but eventually way up from my cost basis. The other two times were purchases through robinhood where I wanted to buy if it dipped below a certain point and sold after a gain I was satisfied with, even though in both cases it continued to run up decently higher. I have a very small amount of play $ in doge (via robinhood) that is currently at a loss but its so small I don't think about it. 

Never considered moving coins to cold storage because the only time I think I had actual coins was that initial coinbase ETH trade. I have always assumed that my purchases via robinhood are just "shares" of a commodity unless I were to convert them? Correct me if i'm wrong. When I've filed my taxes, they have just been listed as long or short term capital gains trades along with my other stock trades.... 

I am very interested in SOL, i'm just not so much interested in coinbase. It's been a long time but I assume its still a fee to convert USD to SOL, then another fee to convert the SOL back to USD, all before taxes. I'd like to avoid those additional fees but if they are not too much, I may dust off the coinbase account. 

I could get on board with a  60-70% split BTC / ETH and SOL  with 10-20% in a miner and 10-20% cash for dips. 

Do you have any thoughts in CIFR in particular? or is there something you prefer bout the ones you listed?

[Cdub100 3,566]

25 minutes ago, WhiteWonder said:

One of the big reasons I respect your opinion is that you have been willing to admit when you make mistakes, are down a bit, etc. Almost no one else is willing to admit they ever made a bad call on crypto or got in at the wrong time... which we all know can't be true. Or it's just non stop blind pumping based on posts they read on X or pro crypto podcasts. You are actually willing to have adult conversations. 

I have bought and sold ETH 3 times. Very first was through coinbase. After I bought it went way down but eventually way up from my cost basis. The other two times were purchases through robinhood where I wanted to buy if it dipped below a certain point and sold after a gain I was satisfied with, even though in both cases it continued to run up decently higher. I have a very small amount of play $ in doge (via robinhood) that is currently at a loss but its so small I don't think about it. 

Never considered moving coins to cold storage because the only time I think I had actual coins was that initial coinbase ETH trade. I have always assumed that my purchases via robinhood are just "shares" of a commodity unless I were to convert them? Correct me if i'm wrong. When I've filed my taxes, they have just been listed as long or short term capital gains trades along with my other stock trades.... 

I am very interested in SOL, i'm just not so much interested in coinbase. It's been a long time but I assume its still a fee to convert USD to SOL, then another fee to convert the SOL back to USD, all before taxes. I'd like to avoid those additional fees but if they are not too much, I may dust off the coinbase account. 

I could get on board with a  60-70% split BTC / ETH and SOL  with 10-20% in a miner and 10-20% cash for dips. 

Do you have any thoughts in CIFR in particular? or is there something you prefer bout the ones you listed?

I believe you can move some crypto off Robinhood. If you don't want to buy a cold storage wallet you can use a hot wallet like trust wallet, metamask or Exodus. Your crypto is probably safe on robinhood, but I learned a hard lesson and don't trust anyone right now. I also like staking. It's important to me so unless robinhood allows staking I would move someplace else.

I don't know anything about CIFR other than they are new to the scene. What brought me to clean spark was how they were not selling during the bear market. One of the few miners who was hodling BTC. CORE was a distressed asset that I believed would make it out of chap 11. My avg cost for all my CORE holdings is 36 cents per share. Core could have easily gone to 0. I'm lucky it didn't. If you lke CIFR and think they will return to their offering price it's a cheap assets to get into. 

I don't like Coinbase either but they are a necessary evil. It's pretty cheap to move coins off so long as it's not BTC/ETH.

[WhiteWonder 2,308]

4 minutes ago, Cdub100 said:

I believe you can move some crypto off Robinhood. If you don't want to buy a cold storage wallet you can use a hot wallet like trust wallet, metamask or Exodus. Your crypto is probably safe on robinhood, but I learned a hard lesson and don't trust anyone right now. I also like staking. It's important to me so unless robinhood allows staking I would move someplace else.

I don't know anything about CIFR other than they are new to the scene. What brought me to clean spark was how they were not selling during the bear market. One of the few miners who was hodling BTC. CORE was a distressed asset that I believed would make it out of chap 11. My avg cost for all my CORE holdings is 36 cents per share. Core could have easily gone to 0. I'm lucky it didn't. If you lke CIFR and think they will return to their offering price it's a cheap assets to get into. 

I don't like Coinbase either but they are a necessary evil. It's pretty cheap to move coins off so long as it's not BTC/ETH.

thanks. considering i'm more interested in shorter term trades (i.e a potential runup to the halving which sees to be the next "buy the rumor" event) I don't really feel like dealing with cold storage wallets and all that. That's something I would do with any CC i planned to hold for longer. 

and obviously CIFR would just be stock trading. 

[WhiteWonder 2,308]

the amount CIFR is down today puts it around the level I had been thinking of as an entry point but happened pretty soon.  can't bring myself to jump in

[Cdub100 3,566]

I decided to swap all my Shib Inu for SOL.

SOL is going to replace ETH. I also have a bunch of other meme coins that I think will 10/100x. Shib has seen its time in the sun.

[Cdub100 3,566]

I'm also going to leave DOT for SOL

I'm going to wait for the DOT is Ded airdrop then swapping for more SOL

[Alias Detective 1,225]

SOL seems like the next play.

[Cdub100 3,566]

On 2/2/2024 at 11:29 AM, Alias Detective said:

SOL seems like the next play.

After a year of up time, SOL is down today for some reason.

[Frozenbeernuts 1,658]

Cdub was right that bitcoin would dip into the 30s.

I was right that any dip would be short lived. Yesterday saw a net inflow of 9,000 bitcoin into etfs. You need to remember that bitcoin has an extremely small market cap when comparing it to other commodities. It's not hard for the price to 5x from here over the next 18 months

[Cdub100 3,566]

59 minutes ago, Frozenbeernuts said:

Cdub was right that bitcoin would dip into the 30s.

I was right that any dip would be short lived. Yesterday saw a net inflow of 9,000 bitcoin into etfs. You need to remember that bitcoin has an extremely small market cap when comparing it to other commodities. It's not hard for the price to 5x from here over the next 18 months

I thought we would go to 35k. I didn't think we would stay there long as well.

Let me ask you this. Do you subscribe to 2025 being the year of the blow-off top? I read a lot of people saying 2025 is going to be a great year, but I think this November/December will be the top.

[Cdub100 3,566]

Crypto mining stocks are trading like crypto.

Cleanspark - +24.09% %todays gain/loss

[Frozenbeernuts 1,658]

1 hour ago, Cdub100 said:

I thought we would go to 35k. I didn't think we would stay there long as well.

Let me ask you this. Do you subscribe to 2025 being the year of the blow-off top? I read a lot of people saying 2025 is going to be a great year, but I think this November/December will be the top.

I really don't know. I would assume that bitcoin and crypto continue to run into 2025. That's how the cycles always play out. The bitcoin supply being cut in half is going to have a big impact on the price. We are having an increasing demand from institutional investors all vying for a smaller share of coins. It may take time for the supply shock to really start to effect the price.

I also don't see any way where the Fed can remain hawkish for an extended period. They will have to increase printing again as things start breaking. Considering how long they have been relatively hawkish already, I would be surprised if they could keep it up. Plus politicians open up the money spigot during election time.

[Cdub100 3,566]

1 hour ago, Frozenbeernuts said:

I really don't know. I would assume that bitcoin and crypto continue to run into 2025. That's how the cycles always play out. The bitcoin supply being cut in half is going to have a big impact on the price. We are having an increasing demand from institutional investors all vying for a smaller share of coins. It may take time for the supply shock to really start to effect the price.

I also don't see any way where the Fed can remain hawkish for an extended period. They will have to increase printing again as things start breaking. Considering how long they have been relatively hawkish already, I would be surprised if they could keep it up. Plus politicians open up the money spigot during election time.

Last cycle we hit the double top in November. I wonder if the price was suppressed by FTX (who admitted to doing exactly that) and we would have hit 100k last cycle. I just don't know. I think I start profit-taking in November and hope to hit the top with one of my 20% sells

[Frozenbeernuts 1,658]

8 minutes ago, Cdub100 said:

Last cycle we hit the double top in November. I wonder if the price was suppressed by FTX (who admitted to doing exactly that) and we would have hit 100k last cycle. I just don't know. I think I start profit-taking in November and hope to hit the top with one of my 20% sells

I 100% think FTX stunted the top. I also think wall street was in on it. They realized at some point last cycle that they had almost no exposure and wanted the price at a more acceptable level.

FTX sold a lot of paper bitcoin

[Cdub100 3,566]

I'm not bullish enough. Nobody is.

[Frozenbeernuts 1,658]

2 hours ago, Cdub100 said:

I'm not bullish enough. Nobody is.

Nope. I think this cycle is going to shut up most naysayers. We will look back on the squabbling of Short term price moves as ridiculous. 

I really think this pawswap bet is going to pay off massively.

[Cdub100 3,566]

2 minutes ago, Frozenbeernuts said:

Nope. I think this cycle is going to shut up most naysayers. We will look back on the squabbling of Short term price moves as ridiculous. 

I really think this pawswap bet is going to pay off massively.

I hope it does. Don't get caught holding bags though.

[Frozenbeernuts 1,658]

52 minutes ago, Cdub100 said:

I hope it does. Don't get caught holding bags though.

I will take profit at some point and then let the rest ride

[Frozenbeernuts 1,658]

Yesterday saw a net inflow of 11,000 bitcoin into the etfs.

Their biggest goal is to capture as much bitcoin as possible. They see it as a threat and also a way to make money at the same time.

In their pursuit of acquiring as much bitcoin as possible, they will make a few people really wealthy. Are you going to sit by and pray for a cheaper price? I'm not gambling like that.

[Frozenbeernuts 1,658]

 

[Mookz 1,298]

11 hours ago, Frozenbeernuts said:

Yesterday saw a net inflow of 11,000 bitcoin into the etfs.

Their biggest goal is to capture as much bitcoin as possible. They see it as a threat and also a way to make money at the same time.

In their pursuit of acquiring as much bitcoin as possible, they will make a few people really wealthy. Are you going to sit by and pray for a cheaper price? I'm not gambling like that.

I am amassing BTC at a rate of $10/week.  My total holdings has now reached double digits in value. 

[WhiteWonder 2,308]

On 2/9/2024 at 4:26 PM, Frozenbeernuts said:

Nope. I think this cycle is going to shut up most naysayers. We will look back on the squabbling of Short term price moves as ridiculous. 

 

   maybe, maybe not... but i'd say you have been one of the prime people squabbling, no? I mean, yes, you have been on the side of huge BTC prices but you're also the #1 person who comes to bump this thread after any price move up

 

[Cdub100 3,566]

Celsius network update

I should receive my distribution sometime this week. I have to go through paypal which sucks azz and I'm only getting 25% of my original crypto back. What a huge loss.

I just did my taxes and I was able to take a huge loss due to the criminal acts of Celsius so I will see a big return.

[nobody 2,195]

I thought you could only write-off $3k in capital losses and have to carry over anything over that.

Is it different because of the criminal nature of the loss?

[Cdub100 3,566]

16 minutes ago, nobody said:

I thought you could only write-off $3k in capital losses and have to carry over anything over that.

Is it different because of the criminal nature of the loss?

Yes it's relatively new and came from the Bernie Madoff scandle.

IRS Form 4684:https://www.irs.gov/pub/irs-pdf/f4684.pdf

Theft Loss Deduction for Ponzi-Type Investment Scheme Using the Procedures in Revenue
Procedure 2009-20 (Complete this section in lieu of Appendix A in Revenue Procedure 2009-20. See instructions.)

[Frozenbeernuts 1,658]

 

Will we see 50 today?

What's going to happen when the bitcoin etfs destroy all other wall street investment vehicles?

[Cdub100 3,566]

Just got my BTC and ETH codes from Celsius. 

Now I need Paypal to increase their withdrawal limits (request sent) because this is going to take months.

[Frozenbeernuts 1,658]

 

Must be the bubble getting close to bursting. Good thing people sold the news. Wouldn't want to have to wait 3 weeks to be in the green.

[Frozenbeernuts 1,658]

Will we see 51 today?

[nobody 2,195]

2 hours ago, Frozenbeernuts said:

Will we see 51 today?

Have you thought about what price has you set for life?

[Frozenbeernuts 1,658]

11 minutes ago, nobody said:

Have you thought about what price has you set for life?

I don't own enough for that to happen with bitcoin unfortunately. Its going to be a nice portion of my wealth as long as I'm not forced to sell off too much

[Frozenbeernuts 1,658]

On 12/5/2023 at 8:47 PM, Frozenbeernuts said:

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.

Anyone buy Microstrategy stock? Up 45% in 5 days.

[Frozenbeernuts 1,658]

Net inflow of 12.7k bitcoin into ETFs today

[Horseman 1,593]

Will we see 48 today?

[Alias Detective 1,225]

On 2/12/2024 at 9:55 AM, Cdub100 said:

Ponzi-Type Investment Scheme

Huh?

[Cdub100 3,566]

1 minute ago, Alias Detective said:

Huh?

Huh?