buddy doing heavy lifting. a nice back to back 52 then 52.5
I think I will not do any sales today.
maybe tuesday or thursday.
why sell at all? 1% $ loan against btc at 25% LTV at Celsius (you can borrow up to $2 mil). That 1% interest is most likely deductible as well, especially if you have a LLC. NOT a financial advice and, personally, i haven't taken such loan yet..but I also don't sell btc. |
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Just thinking about possible outcomes...
<snip>
We are going to see a WallStreetBets sort of black swan event. Retail is going to realize they can make the price go up like CRAZY by organizing their buys.
I will probably buy $30 (or more) tomorrow just as a gesture of support, but I doubt that we are at the wallstreetbets-like moment. Bitcoin is too complicated a concept for it to play out like this, especially before WS had a very large gulp of this stuff. wellstreetbets peeps will probably ape into a low cost coin like ... (<-the name goes here) instead. I think that within 3-5 days it would be a nothingburger (could be up by 5 or even 10%, but it could have made it regardless). ETF would be an entirely another ball game. |
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@JJG says: "and sure, somewhat sorry for your loss too, Biodom.. except I am a wee bit less sorry for you because you continue to whine over your prior lack of aggressiveness and you also seem inclined to promote lack of aggressiveness from others.. because of supposed structural disadvantages that newbies and normies have.. without even being able to recognize and appreciate that bitcoin brings a lot of power to many newbies/normies, and probably more likely to those newbies/normies who take a more aggressive rather than defeated/whimpy approach to their BTC allocation efforts.."
What losses are you talking about?
Every time you misquote and misconstrue whatever I say. Stay away from replying to me, period.
You keep making wrong theoretical constructs about people and then comment on such constructs.
Everything you say about me is factually incorrect.
In fact, the little diatbribe you posted has almost nothing to do with the quotes that you cut out.
You are, basically, a troll (or a little trollie).
Do you have anything else to do besides trying to post something at the middle school level?
Asking for a friend.
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Thought it may be interesting to note for those who dont know...There was an airdrop for dydx layer 2 dex, you had to trade a certain amount during august or something, etc. Someone did 1.7 BILLION in wash trades, paid like 3 million in fees, etc, to game the airdrop with multiple accounts and get a huge share of the tokens awarded. it was so blatant and obvious that they just deleted him (keeping the fees of course) from the airdrop.  not promoting the exchange or anything, just put a smile to my face. yea, but what about those who made only $3 mil in wash sales? My point is that you can only catch the most obvious violator while many others squeaked by. |
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Raoul Pal explaining why and how, we, bitcoin investors, are succeeding AGAINST the setup that is unfavorable to the regular Joe. https://youtu.be/2UHaaR7mzq8?t=379IMHO, accredited investor laws is one of the social roadblocks (in US) that hampers innovation. I actually got this point back when FB IPOed. Granted, you could have still made 10X afterwards, but not 100-1000X. In bitcoin, we were (and still are) in the lead position and WS is coming late. Boo-yah! |
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Not sure why market prefers running all kinds of s-t instead of btc..hoping for some major news (twitter implementation, ETF, etc) to shake the alt "bugs" off.
Right now, there is nary a day when "something" in the top 50 does not go up 20-30% for no other reason that their opportunistic VCs are "gunning" them up (witness a couple in the last 24 hr). We are at 41%, which is quite low.
Why do I care? Because around 35-36% dominance last time coincided with a global top in everything, including bitcoin.
I am not sure that it is going to be like this this time around, but I surely wouldn't like us stopping anywhere below $100K at the minimum, hopefully much more.
TL;DR A boost in btc price is badly needed so the rest can slow down and not overheat while bringing everything down.
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Timing matters. Reaching disgusting fuck you levels with a foot already in the grave would have little effect on the average human's happiness level.
In udder words
Hold my stash
In udder words
Baby, kiss 1M!
I feel you. I am 64 my okay success with btc is nice. But if I were 34 it would be more so. Yea, especially during this covid s-t. Unfortunately, you can't buy time..at least not yet..hang around another 20, who knows if we'll get something profound in the life extension field. |
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Just checked on the fees that I would need to pay to convert one of my shitcoins into USDT via DeFi and it comes to about $600. For $5000 worth of coins.
We are certainly not at the future of DeFi yet.
The RGB solution coming down the pike would be over the Lightning Network and cost almost nothing using client side validation. That is the future of DeFi.
I tried MetaMask. Fees running $100 to swap tokens. What a complicated and expensive process. Note to self: stick to bitcoin. Didn't fees on btc reached $30 or above in 2017. We dealt with it, right (segwit, batching, lightning, etc)? This alone does not mean much as there is always an argument that fees are high because the usage is high. I distinctly remember people like Trace Mayer making this claim in 2017. Naturally, there is a limit. If a tx costs $1000, almost nobody would tx, apart from a few whales. That said, as a wallet, metamask is awesome. We need a great wallet like this for btc. Some make claims that there are already a few good btc wallets, but when a TRULY great one comes, everybody would start using it. |
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I just hope lightning will spread it's wings. If not exactly lightning, then anything, but not what we have now.
EVERY interaction with an old system tells me how much f-ed up it is (in US).
All financial intermediaries are trying to fleece you as much as possible, banks are not paying any interest but want exorbitant credit rates (on credit cards).
I always pay credit cards on time so there are no fees, but, come on.
Anecdote: I have a disabled relative who lives in a rented apartment.
Before, the apartment management took cash, then only check, now they decided to link with some sleazy payment management company that..listen to this...charges money for payment from a bank account.
Is you want to pay with cc-a $30 fee for making a payment, i kid you not. What an outrage, especially since they "prey" on those who already have limited funds (in this case a disabled person).
TL;DR Financial services consumed american capitalism to a large degree.
Now it is ether bitcoin or we WILL go bust and relatively soon.
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New notice on Kraken. In light of regulatory guidance, all U.S.-based clients who want to trade on margin will be required to be Eligible Contract Participants.
Click here to self-certify your status to continue trading on margin with Kraken. ECP level is usually $10 mil, sometimes $5mil...it appears that PTB a.k.a large investors don't want smaller fish to play in btc on margin. |
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a bit of volatility here.
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Morning!
So, I bought some BTC today for the first time since 2014.
I decided to do a little experiment, I was offered a loan from a company (Qliro) and accepted, I borrowed 20 000:- (about 2300 USD), I set aside four months worth of payments on the loan (this will be used to pay of the loan for the coming four months) and bought btc for the rest (17500:- (about 2000 USD)) and I put those btc in a separate wallet.
Now I'm going to sell these btc in December when we go skyrocketing and the little experiment here is to see how much money I will make on this.
The plan is of course to repay the loan in full in December and do something fun with the profit.
I have been offered to up the loan with another 50 000:-, I might do that, still thinking about it.
So, as you can see the whole point is to make money without having to put in any of my own.
I did accept the offer to up the loan with 50 000, the money should be in my account on Monday, I will move it to another bank and do this buy from another broker, the brokers I use take about 10% commission, so my firs goal will be to reach break even. is this how it works in Sweden? 10% commish on a loan? Ridiculous, I might say..a shark's loan. If you have means of repayment, OK, but not OK in most cases if you don't. A leveraged play,which has a good chance of working...Good luck! |
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A thought occurred...I wonder if Bob's fella (Rick) is posting here?
If so, I would be curious to know his nick, just for giggles.
Bob is probably mostly building the ranch (and fence), I suppose...kind of miss him #nohomo
BTW, on the topic of ranches and lakes...if what Balaji is talking about will happen (I give it a 70% chance[for 1mil per that is]), then bitcoiners would at some point rush into good RE all over the world.
Maybe recent jump in RE values was already influenced by bitcoiners. More will come in due time.
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https://bitcoinmagazine.com/culture/1-million-bitcoin-price-billionaireHowever for Balaji it appears that there is another, perhaps more fascinating flippening that will come soon - the flippening of billionaires. He says that when bitcoin hits milestones like $100,000, there will be as many bitcoin billionaires as there are traditional billionaires. When bitcoin hits one million dollars, the world’s bitcoin and crypto billionaires will surpass the number of traditional billionaires. interesting...I did similar analysis, but for the number of millionaires, posted it a while ago, maybe even here. The gist was a bit different...as btc price increases in $, even at $1mil/btc there still will be only 2.5mil owners of ~1btc (the data is from here: https://medium.com/@BambouClub/are-you-in-the-bitcoin-1-a-new-model-of-the-distribution-of-bitcoin-wealth-6adb0d4a6a95). With total number or millionares being about 50mil, 2.5mil is ONLY a 5% increase. Bitcoin has to get to ~$5-10 mil to significantly affect total millionaire numbers. But with billionares, it is a different story: with btc at 2.5mil, half of Earth billionares would be "from btc" (a slightly diff numbers from B., but account numbers could have changed since 2017 with whales accumulating even more). |
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^^^ (when I login, I don't see this..whatever this is)
It is funny how you always make these conjectures without actually knowing anything about me.
Contrary to you, who at various times said that you own 0.63 btc and and other times said that you are "rich as f-k", I maintain my bitcoin account details private.
ad astra per aspera
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yes, it seems that "old money" knew how to do it back then and even now. This is really the year that people start to believe this prediction. Greatest Wealth Transfer Ever. pencil 2026 as a good time to retire, eh? |
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The only way to make this clown-train stay on the tracks is to centralize it further. Much further. When are the masses going to finally realize that this causes it to lose ALL the advantages of Bitcoin, AND take on some serious negative aspects? And that running it on a blockchain is actually stupid when you should just run it on a SQL database that the people who control it... well... control? [img width =100]https://i.imgur.com/c32Wpec.png[/img] https://twitter.com/BobMcElrath/status/1431263073227132929This shit stain needs to die in a bonfire of its own making. Why its vulnerability that was known for over a year wasn't exploited is beyond me. If I was a Bitcoin Maxi with an original coin hoard I would have funded to take that crap down years ago. The longer it exists the worse it is for bitcoin, as when it inevitable either changes to a centralized hosted database or fragments under its own weight the backlash from all the tards will be on Cryptography as a whole. We all know the bankers will fud that to the end of the earth stating it is a flaw in the entire decentralized model when its nothing more than shit coding and putting a scam ahead of sound principles. Its a sad fact that the longer it exists the more legitimate in the plebs eyes it is becoming. 1. OG maxi tried-remember DAO exploit? 2. Windows is still around when a few versions of it were crap. 3. Eth is not really in favor right now despite it being #2. There are others that seem to find favor with banksters. This could change back, of course. 4. A slow rollout of Lightning and smart contracts on bitcoin cased the proliferation of various blockchain "life forms". The ginie is unlikely to come back into the bottle. |
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I sold nothing in 2017 (apart from all the fork coins). I felt like an idiot for quite a while, missing out on life changing money at the time, not knowing if/when it would return. Luckily for me, my greed or idiocy in 2017 has served me well as I’m sure you can imagine, looking at the price today.
I sold 6 on the way up to the ATH this year. I actually managed to buy them all back on the way down to 29k & still have over six figures in fiat in my bank account.
Initially I was planning to sell quite a lot of my stash during this bull run (laddered sells every $5,000 from $50,000 to $160,000 if we’re lucky enough to go that high or higher). After much thinking, there isn't much else to put your fiat in is there. I’m mid 30’s, there’s certainly no point having vast amounts of fiat in the bank is there. I plan to sell possibly 30% (which is still a lot of money as you can imagine) & invest a bit in property & the S&P500.
I’ll have more than enough cash aside too which will get me through the next 3.5 or so years until we start the ascent in the next bull market.
I don’t want to sell 75% of my stash at maybe $100,000 & see $700,000 per coin or something in 2025.
Playing around with big money is not easy, is it.
We are an elite band of gentlemen, our decisions will shape the future of our family bloodline.
Of course it is not easy, with a caveat: you cannot be truly responsible for future generations because you cannot "control" their future, apart from 1-2 generations (and even then only to a small degree). Plus, the rule(s) against perpetuity would be enforced. In US they are already trying to limit what a trust can do. I am aware of South Dakota trusts, but even they could be reigned in eventually. As far as stocks are concerned-many HNWI use VT instead of SP500 for some reason. Maybe it gives extra kick since fast growing economies contribute to it. My tactic remains to be hodling almost all bitcoin (since I also don't know whether it would be 100K, 300K or something else) and trade around alts. Sticking to just bitcoin seems ineffective (as far as trading is concerned). TL;DR: bitcoin is ONLY for accumulation and hodling, alts are for trading (if you chose the right one or a few).
We are an elite band of gentlemen, our decisions will shape the future of our family bloodline.
This is big responsibility toward our (future) lineage. As someone often says: "It's not difficult to become rich. What is difficult is to stay rich".Preserving our (your) multi-generational wealth is a gargantuan task. But, as you beautifully stated, we are an elite band of gentlemen. Born on maths, hard money, and low time preferences, instead of greed, violence and advantage positions. Another approach is give as much a possible to one generation and either skip or not skip one. I can see possible advantages in either approach, depending on personal circumstances. Personally, I am targeting a skip, possibly, with maybe one exception. |
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Someone has, sir. I consider you someone. You know this energy thing is one of the many reasons I have realized we are still SO early. Hueristic can tell you... Poker players call it level thinking. I am sure it's not just poker players who call it that... Thing is so few people have figured out that Bitcoin will revolutionize the power industry more than pretty much anything else aside from the "money industry". It will eventually change SO MANY OTHER things... But power is basically second order. Almost still first... But it's one level away from the base. Bitcoin takes power! HUUR DUUR Bircorn bad. Use power for nothing. Bitcoin will drive an energy revolution unlike anything we have seen so far. This is not hyperbole. And I am sure some of you poker players have already seen it. Bitcoin creates a power consumer base layer. Most of the time we think of power as something we do not have enough of. Something we all have to share like a pie. But there is more atomic energy in a single penny than we can really imagine. But I will help. The energy in one US penny (3.1 grams of copper plated zinc) is FOUR TIMES the amount of energy released by the bomb that was dropped on Hiroshima. We have more potential wind, solar, nuclear, and yes, hydrocarbon energy available to us than we could use in millions of years. The problem is it takes WORK to build the systems that produce the energy. And work is the distilled value of human lives. If you were to build a large hydroelectric energy source, or a nuclear reactor in MANY parts of the world where this is a REAL NEED for energy, there would not be a demand large enough to justify the expense. So there are places all over the world that NEED energy, but do not have it. Bitcoin fixes this. Really. Because NOW we can build a dam that serves a area somewhere in the world that is starved for power. But it's OK that there re not enough power customers to make the dam profitable! Just rack up a pile of bitcoin miners!!!!! THEY can pay for the dam. And then you have abundant energy for the surrounding villages, which will grow to out compete the old bitcoin machines for the power that resource produces. Bitcoin will revolutionize the energy markets. There is no way it doesn't. ...if the better panels were not restricted. it is coming maybe 5-10,years. restricted by whom? import restrictions or some kind of safety regulations? Hey, Phil, did you know that Blockstream bought Spondoolies? ...memories from a while ago. |
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