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"Futures had never been established in bitcoin" TM, signed: @JJG
..I keep getting surprised, but I really shouldn't be.
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@JJG "they" are obviously big money shorts who wait a few mo before establishing a nice fat shorts of those long investor killer futures based ETFs and NEVER close those shorts..ever.
It would be funny if it wasn't so sad-just check the darned charts.
What are you arguing about: words or ideas? I know...words, of course.
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how does the etf make a profit.
etf company makes profit on the fees. long term short makes the profit off of gullible long investors in such futures-based etf. that said, typically they allow them those ETFs to pop 50-80% initially to establish the short at better (higher) prices. |
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I tried to explain it before, but it went over @JJG head and he/she "exploded" in indignation...as usual. The vid lady is right, though. |
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We are talking about the lake property correct?
Jimbo is the lake owner. We have a couple fishing ponds and cattle watering holes on the ranch, but nothing approaching a description of a lake. When I say 10 years away, that's us moving out there and abandoning our suburban home altogether - Having all the subsistence infrastructure being well established and running by then. Probably going to spend 4 days at the ranch, and 3 days in the city for a little bit, and see how that works out. Realistically, it won't be until early spring until the barn/home goes up at end of Phase 1 construction. Phase 2 construction is for our main home, solar arrays, greenhouses, and my studio building. Phase 3 has not properly come into focus yet, but likely to involve buying up more land, building a citadel 1000ft high, and doing a geological project on a heretofore unforeseen scale, to build a proper lava moat surrounding the citadel. Hopefully end of 2025-ish  EDIT: No problems with data, electrical, or water service where we are building. Robust, new infrastructure in place. Well, THIS would stand even in the troubled times...food supply ensured, electricity too, and high elevation for tactical advantage  My wife wants a lake and my son recently told me that his dream home is a ranch. I am absolutely NO rancher myself, but a serene lake sounds appealing. The only thing about a ranch...you can mine there as much as you want, no neighbor complains. I am missing mining in person a bit and my current host is closing by next summer. What to do? Sometimes i think that when i retire, mining would be something to put some energy into, but in the city warehouses (to rent or own) are darned expensive. |
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I think that you don't get the idea: instead of selling bitcoin and PAYING up to 50% in taxes, you get cash that you need now. Then, for example 3 years later (of course you borrow somewhere close to the peak price) when bitcoin is at ATH, you can use a FRACTION of bitcoin that you borrowed against to close your loan. Taking a loan would be having the necessary chunk of cash now, but effectively selling bitcoin at a price of 3 years LATER.
At LTV of 25% the interest is 1%. You can't get a loan like this when you buy a house, at least in US.
I am not planning to either sell or take a loan at the moment, but this "method" surely beats selling and paying a HUGE amounts of tax.
All rich do this. How do you think Musk had billions to invest in Space X (he borrowed heavily against Tesla stock to the tune of billions)?
TL;DR Want to pay lotta tax, sell; don't want to pay tax (lawfully), take a loan.
EDIT: you can also use a part of the loan to reinvest in bitcoin options, if you are super bullish or bearish and leverage your position.
Which specific service are you talking about? Inquiring minds want to know. Celsius (not promoting them as i just did the research, but did not place any loans with them yet). LedgerX is the place in US where you can sell essentially covered calls against your btc. Advantage: you also get cash now for a HIGHER bitcoin price sell, essentially. You place a covered call at 75K, get some cash (did not look lately, but should be at least $10K for later timelines). If bitcoin gets to above 75K, this means that you sold your btc at 75K+current premium (10K in my example)=85K (beats 61K peeps were selling for this week). If bitcoin does not get to 75K, then option expires and you may get your bitcoin back or sell the option AGAIN. |
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How did you do it without giving up your keys?
Yup, had to give them up. IMO, the market has matured. We're no longer in the Gox era of amateur custodians, and the rewards of a low-interest loan and/or interest-bearing savings outweigh the risks for *part* of my stash. The bulk stays in cold wallet. DYOR. good move, but I will wait a bit. Wait for what?  You guys - parting with your coins for a fiat loan, instead of market selling and market buying back - constitutes the end of BTC as we know it. Not my cup of tea. That said, I do hope you get them back. I think that you don't get the idea: instead of selling bitcoin and PAYING up to 50% in taxes, you get cash that you need now. Then, for example 3 years later (of course you borrow somewhere close to the peak price) when bitcoin is at ATH, you can use a FRACTION of bitcoin that you borrowed against to close your loan. Taking a loan would be having the necessary chunk of cash now, but effectively selling bitcoin at a price of 3 years LATER. At LTV of 25% the interest is 1%. You can't get a loan like this when you buy a house, at least in US. I am not planning to either sell or take a loan at the moment, but this "method" surely beats selling and paying a HUGE amounts of tax. All rich do this. How do you think Musk had billions to invest in Space X (he borrowed heavily against Tesla stock to the tune of billions)? TL;DR Want to pay lotta tax, sell; don't want to pay tax (lawfully), take a loan. EDIT: you can also use a part of the loan to reinvest in bitcoin options, if you are super bullish or bearish and leverage your position. |
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How did you do it without giving up your keys?
Yup, had to give them up. IMO, the market has matured. We're no longer in the Gox era of amateur custodians, and the rewards of a low-interest loan and/or interest-bearing savings outweigh the risks for *part* of my stash. The bulk stays in cold wallet. DYOR. good move, but I will wait a bit. |
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Not excited at all. ETFs are allowed by SEC so that the powers that be can sell something they don't have (bitcoin) by pledging something they have in unlimited amount through the $$$ printing press. By creating unlimited amounts of paper gold they controlled the price of gold. They'll attempt to do the same with bitcoin! Fiat is dying, and if they can artificially suppress the price of BTC in the meantime, that just gives us more time to stack cheap sats. That's the way. I remember reading "we're still so early" more often recently on twatter. 2017 all over again? I honestly don't think right here is "so, so early", maybe like 2003-2004 in the Internet time frame. Those who say we are in the first inning are probably incorrect..in feels like the bottom of the 3rd  . |
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It's started.
To those who endured: you deserve it.
Enjoy the ride.
it's hard to believe...after so many jarring setbacks. Looking just at the 200wk average would help to maintain sanity. That's pretty much the only thing @JJG got right. |
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Stash equal to, say, 10-20 ranches (or lakes) X0.16= 2-3 more ranches (or lakes, whichever it is) |
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100 pages of analysis of what should have been done years ago. ...slowly clapping hands..at SEC. ..and @JJG...nothing. |
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@JJG..you just don't get it, don't ya?
Bitcoin would be fine, it is the PRICE of that (FUTURES BASED) ETF that would be f-ed up, that's all.
"Regular" btc ETF (based not on futures, but on the spot price) would be fine just as well, just like GLD is fine and is largely following the commodity.
Alas, futures -based ETFs do not do that (follow the underlying commodity) over long periods of time.
..sideways..for all your buy/sell scenarios, get some education in how futures vs spot work.
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All futures based ETF are POS. I looked at quite a few, price-wise. Futures based ETF are great for shorting, that's all. They typically pop for a few mo (and not longer than a year) and then go down year after year, no matter what the underlying does, it seems. |
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A calculation: If bitcoin goes up every day just 4.08% (today's gain) until Dec 31, the price would be at about.... $1.46 mil/btc, lol The compounding effects for you. EDIT: I can settle for a third or even a quarter EDIT2: steady 2% a day until the New Year would give it ~$284K |
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good idea, somewhat exagerrated numbers. Example: 2013 first peak at $250, second peak at $1163. To me it computes as 365%, not 750%, but...whatever..small details  |
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Dan Held: "I’m not a Democrat. I’m not a Republican. I’m a member of the Bitcoin party." https://twitter.com/danheld/status/1447251691359907845Nicely done, but someone replied even better: "Not blue, nor red. I prefer Orange." EDIT: with a bit of exactness-STACKSATSITARIAN (or SST TM). |
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I wonder who are the a-holes selling (or trying to) this down every freaking Sunday.
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imho, nfts will evolve into a method of human/machine and machine/machine interaction rather than mostly 'artsy' objects.
1. an nft that opens a rented airbnb in London.
2. an nft that gives you the right to purchase something for certain price at a certain location or any location.
3. an nft that secures your car loan
if machine/machine interaction would be possible, then you would just 'task' your AI-agent and they 'go' around making it possible while you don't have to make a gazillion phone calls.
You can't just list random shit that people do and add "with an nft" next to it. They are simply bullshit invented by get-rich-quickers to fleece woolly thinkers of their money. You just can't see the forest for the trees..see @Syke post (the programmable aspect)..not much to add, but as Satoshi said: “If you don't believe it or don't get it, I don't have the time to try to convince you, sorry.” |
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Don't let Bob know he can earn BTC by mining and stacking STX. haha, I actually have that stuff, but did not stack any btc with this method yet...waiting in vain until Jarrett's staking lawsuit (which will be probably precedent-making) is resolved. 10% staking APY, paid in btc, not bad (could easily be 20% if you count btc appreciation this year). |
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