^
Gensler doesn't care much about court rulings and he even said it in his recent bloomberg interview. He isn't going to respect court decisions when it comes to crypto!

I hope that you're right about this and ETFs pass this year, or in Spring of next year, but the way I see it, Gensler is going to fight it until they remove it from the chair and that opportunity will come next year if Biden loses. In such case whoever comes next will remove Gensler, which is why I said that ETFs are going to get approved by the end of 2024.

It's going to be a miracle if he approves anything next month. You'd have to threaten him or otherwise put his back against the wall to achieve such outcome.

The first things I'd worry about in such situation would be my fiat money and my job. I wouldn't do anything with my bitcoin.

It's important to mention that a collapse would not happen in a day. It would be months and you'd be able to see it first in weak economies and then finally in the strongest ones like EU and US.
I'd probably take aot all my money from banks, liquidate all my savings accounts and make sure I'm all in hard assets like real estate, gold, cash and bitcoin.

Then I'd watch it unfold and keep my cars full of gas and all my documents and passports up to date so I can leave and take all my belongings with me. If I lose my job and the bank goes bankrupt there's no reason for me to stay here. I could as well travel.

That's what I thought when I read his post. Is he trying to wing it up to a point at which he panics and goes all in thinking that if the gods want him to go bust he's not going to wait, or is he bored by hours of gambling with no thrill and wants to give himself a boost and go all in?

I never do anything like that. If I did, I'd feel like the game threw me off balance and made me panic and go all in when there are no signs that I should do it. If you want to go all in, just do it, don't play for 3 hours trying to win and then break down and bet it all.

Because of the final deadlines that are in March 2024.

The SEC is known for delaying things and I feel like Gensler is a stubborn donkey that's going to stand on the ramparts until he gets wounded and taken away or gets relieved by a superior officer.
He wants to show the world he doesn't agree with the idea of a bitcoin ETF by voting against it for as long as he can.

I'm saying this because it's literally the same market it was a year ago and the applicants want the same thing. Gensler had enough time to get to know this market and he was against in 2021, 2022 and again delayed things in September of this year (first deadline).

I don't have money to DCA right now. I never really liked this way of investing, much rather prefer to choose a point where the price is cheap and have no regrets.
When bitcoin falls by more than 50% it's usually cheap and you can start buying. It doesn't have to be all your money at once, but it's a great point to start.

DCA investor will buy bitcoin every month which can lead to him buying at the same price over and over even when it's the monthly high. You could happen to buy at 30000, then bitcoin goes down to 25000 for 3 weeks and next month be back at 30 which happens to be your DCA day.

in 2011 you were buying for something like 2 dollars so your 100x is 200 dollars. You could have that in Spring of 2013. Later that year the price reached 1000 (500x)
2015 was about 700 dollars. 7x would be close to 5000 so that's your 7x ROI reached in 2017.

Yes your math is off by a lot.


This doesn't mean anything.
This pattern could repeat but doesn't have to because what changes is the number of bitcoin users who learn from their mistakes. Knowing the halving brings ATH they will surely start investing much sooner this time and that could either lead to the longest bull run ever or to a short one that starts early and finishes early.

It depends how you look at it. Money often divides people and I've noticed that couples that are rather poor or of average income work together to achieve something, but people who both have a lot of wealth tend to look at marriage like a business deal. Before they start living together they already divide assets to know who takes what if they split.


They really need to agree it with parents in your country? The people that I know simply announce it to their families and don't have to ask for permission.

I didn't know I needed that much and that there's a difference between men and women. I've always thought it's about the work you do and the temperature in which you work.
The way I see it a woman that works at a restaurant and needs to walk and talk a lot will need more water than a man who sits in an office all day.

I once saw recommendations of 2 l a day if you don't do sports and that's what I try to reach, although I often have to force myself to drink even that. If it's a workout day I drink an additional 0.5.

Before you read, this might be fake news, because these teasers usually are, but I'll drop this here in case it isn't.

JUST IN:

SEC insider says chief Gary Gensler has told friends and advisors that he would like to gracefully extricate himself from his “personal Vietnam” by approving one or more spot Bitcoin ETFs from the major fund companies where he hopes to get a job after leaving the agency

https://twitter.com/mikealfred/status/1703465138681192814

Even if it's fake I there's going to be an approval by the end of next year with chairman Gensler or without him.

I've heard stories of people who allowed the seller to help them set up a wallet in person and then bought coins from them and the money disappeared because the seller came back home, accessed the buyer's wallet and moved funds.

I've also heard stories of people buying wallets from others, like they wanted to buy bitcoin and the seller would add a hardware wallet or a phone with the wallet on top of it, claiming it to be a gift for the buyer that will also speed up the transaction because the buyer will get the whole source wallet, without having to wait for any confirmations and pay fees.

Looks like we'll have to wait for OP to come back and explain this.
 

Thanks, worldofcoins. All done.

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That's true unfortunately.
Tax laws are made by abusers that later take our money and spend them on legislation so that they can take pass new laws and take even more of it. The government has a monopoly on lawful theft.

Yes I'm pretty efficient with my taxes. Sometimes I even manage to avoid paying them altogether.
I live in a place where I don't have to pay tax on my bitcoin, so my profits from crypto casinos are exempt as long as I gamble using the one and only king of digital assets.

I had moments when the fun stopped for me.

I guess we all have that moment of realization sooner or later, like in my case it was when I was trying to martingale and got 14 losses in a row that wiped out my balance.
Another time I went to a physical casino with friends and the fun stopped because I run out of chips and had to stop playing early on and had to watch my friends having their fun for another hour

Unfortunately, it's like you said. If the authorities can't get people behind so many crypto exchanges that disappeared with people's money, they will probably never find these casino operators. Even if they do, each victim would have to file a report. If not enough people do it and the sum is small enough, they'll be given a fine and probably a suspended sentence.

You need to owe 10 million dollars in crypto or more for the authorities to get interested in you like they were in Mark Karpeles, SBF, or that Russian who hacked Bitfinex.

Some are just afraid, or confused.

India banned bitcoin when they found out government officials were taking bribes in cryptocurrencies.
China first banned bitcoin because people were using it to transfer money out of the country, as sending large amounts of money abroad, or leaving China with a lot of cash is prohibited.
Some Muslim countries ban it because they think investing is gambling and that's against their religion.

These are some examples of hos corrupt governments are trying to rule with an iron fist.

Crypto is not bitcoin, so crypto vs real estate I'll always choose real estate. Hard assets > shitcoins.

Real estate vs bitcoin? Always bitcoin, unless it's a very well known location to buy property.

It's a hard choice because bitcoin is constant anywhere you go. Real estate is not because you can have properties in Luxembourg and Kosovo. Belarus, Crimea, or places like Chechnya, are worse than penny stocks. I'd rather gamble my money at a casino than invest there.

Also, with limited funds and being an occasional gambler, why would I start to learn about horses? Why would anyone?
Maybe if you gamble a lot and want to try a new thing but an average sports bettor who has $100 or less a month to spend and can find more than enough things he or she likes and knows a thing or two about will not try to find new things unless there's money to be made from it.

I think I could get into it if I had someone to introduce me to the sport. If I were to do it only for myself, without having anyone to talk to and enjoy it with, I'd end up betting on the things I'm familiar with.
I guess a betting game could work as an incentive.

I wouldn't worry too much about my children accessing the funds early, cheating one another, spending it on stupid things, being robbed and all the rest of it.

You're leaving your whole world to them. This includes all your savings, properties, collectibles, things you worked on your whole life. If they are dumb enough to waste it or fight over it, they'll do it anyway, even if you make sure they get to share the bitcoin equally.

If they are stupid or hateful they will find ways to lose or destroy everything. I know it because I had such situations in my close family and in families of my parents.

If you're worried, get a bank deposit box in your name. Bank law ensures that even if it goes bankrupt you will not lose access because bank doesn't treat deposit boxes like money. It's your property they cannot put on auction or anything like that. You know the password, the encrypted wallet is in the deposit box. You can share the password with your children if you like, or write it in your will. Even knowing the password they won't be able to get to the file before your death and a potential robber who cleans your deposit box won't be able to access the money.

The above is not a perfect way but it's much better than leaving them money because the money will lose value with time but bitcoin won't. It's still in custody of a third party but that party cannot use it or go bankrupt and take it as a bailout.

And I think that some traders are selling just because they're gamblers and they feel like it's the way to go after the negative news about the ETF delay this week and the rest thinks like you that they must know something that we don't

What you can see on the charts now is a good example of how leveraged this market is and how the price doesn't mean anything because the market lacks liquidity in open orders.

OP's 27k is still in play as support because we haven't seen a daily close below it, although this leverage liquidation may scare people into selling and prolong the correction.