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If we focus on accumulating the asset that we want, in this case, BTC, we should be safe from whatever the price is heading, whether up or down, but the stock-flow model suggests that at the end of this year, we should reach $100k+ which is the best case and we will all celebrate when that comes. So I guess the best preparation is to accumulate more and more BTC.
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Why are you doing two things at the same time? It's going to be too much for your physical and mental aspects to handle. Imagine thinking about two things and worrying about what could happen to them, and you can't do anything about it. That's going to affect you mentally, for sure.
The best way to approach this is to do one thing at a time and focus on one thing only and learn from it.
For instance, if you were to focus on trading, you can learn different strategies and apply them as your own. Make sure to control your emotions towards trading and be aware of the risk management you will face.
BUT if you treat trading as gambling, you should go and gamble all the way and not think about all the technical analysis you can do there.
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Based on your post, the next one would be $300000? How much is that going to be the all-time-high to reach that kind of low? Lol. Anyway, it's nice to think about it like that. Imagine reaching $1M per BTC in the next three years, and we all be rich AF. I hope we all get to that point in some way.
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Liquidation of high-leveraged short positions is more probable in these situations in my opinion. We can also see the same action in the chart when there’s a quick crash, liquidating leveraged long positions. Plus institutions don’t FOMO market buy like us plebs. Haha.
Maybe they needed money and decided to manipulate it for a second and just liquidate positions to fund their wallets? Lol. The difference between us plebs and institutions is the buying power, right? And if we combine all the plebs' power, we can overrun the power that they have? That's what happened with the Wallstreet bets and maybe crypto is next. |
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They are just a typical casino that offers popular games and they do not offer bookies per this article.
Thank you for clarifying this. I wasn't able to do some searches about it and my internet is kind of crappy right now and it doesn't load. Maybe they would have this type of section on their site, it's a great benefit to have this as well. What I like about the idea is that they have ease of transfers when needing funds or something. |
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I think they are large enough to just accumulate BTC and create another fund without investing anything but the payment processor system that they need to integrate. After that, I don't think they are going to have a problem with getting BTC. I think the approach that they can do is just like what Tesla did and convert some of their liquid cash. In general, this would be a great milestone for crypto adoption.
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I would agree with the people who posted before me that to use a non-custodial wallet that you control the private keys to.
Anyway, the best way you can utilize that if you are using Binance as your wallet, is to play with their partner casino. BPlay. I'm just not sure if there are sports books there. I haven't tried it myself but maybe soon
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I get that you have to act as if it is amazing and that is understandable since you are a reseller, resellers made thousands upon thousands of dollars during the peak period, I remember one guy (aitor or something I think?) made 100k+ a year on it for example, but I can be honest and say that it is "good" but not as amazing as you think.
Thanks for your opinion and I understand where you are coming from. That's still the challenge towards the bot itself. There are ups and downs but it gets the job done and compared to doing it manually, that's just impossible. It's not that I need to but because of the development and time that has been put into it to create that bot, it's better than anything else. I'm just pointing out that it's hard to do manually. |
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Upon checking the 1m timeframe, it's probably an institution putting a position on BTC.  It occurred that fast, maybe it's just a single trader and fat-fingered it or something. I doubt they would admit it or something. |
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It would definitely be crazy to see an "Amazon Exchange" operating and it's kind of over-the-top since it's already a big company in another industry but if that's what it takes to make cryptocurrency, even more, attracting everybody and make sure that they know what they are doing, why not?
They are probably testing it out already if they have planned something like this. Or this could be FUD.
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The benefits are that a lot of people are already set up with a broker, investment company, wealth management company, or similar. If the choice is between logging in to their account and clicking on "Bitcoin ETF" or phoning their advisor and saying "I want to buy $10k for Greyscale Bitcoin Trust", versus researching and downloading a wallet, backing up seed phrases, researching and signing up for an exchange, completing KYC if you choose a centralized exchange, linking payment methods, buying and withdrawing bitcoin, learning about addresses and transactions, making sure your own security set up is good enough, etc., then a lot of people, particularly the older generation, will opt for the first option. You can also buy many of these ETFs, trusts, etc., through tax advantaged accounts such as an IRA. When you say it that way, it seems like a lot of work, and it is lol. I have this experience trying to share what I have learned to a boomer and he just said that it takes a lot of work and can't comprehend what I'm doing and says "that's a lot of clicks". This is gonna be perfect with that kind of setup if they already have that. Setting up an account with a wealth management company could be tiresome as well. You also have to trust that the investment will actually accurately track the price of bitcoin. It's a very poor substitute for the real thing, but perfect for boomer types who read about bitcoin in their daily morning newspaper and decide they want to put a thousand dollars on it.
This is definitely the downside with regards to that. It's always going to be the fiat to bow to. It's always that and what else is there? It's so intertwined with the financial system today that even cryptocurrencies are tied to it.
As a community we need to get the message out there that Bitcoin isn't necessarily about "wealth management", but about freedom management. Anyone who wants access to Bitcoin is kinda missing the point if they're handing the freedom part over to JPM. If we allow investment bankers to subvert the narrative and convince everyone this is just another asset class, then we won't win. They will.
I like the idea of that "freedom management". It's being free from ties and control over the over inflated fiat system. But since the value of Bitcoin is tied with fiat, how can we win? |
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Yes, exactly. It's nothing new, and various bitcoin trusts and ETFs have existed for a number of years. I've been able to buy bitcoin price tracker vehicles via my broker for quite a while, not that I've ever been tempted to since I own the real thing instead. But it perfectly caters to people who are interested in the price but don't care about the technology or actually using bitcoin as a currency or owning it themselves.
Do you think there's a significant advantage to doing that route instead of owning the real thing instead? I can't seem to think of any other thing rather than the ease of transactions with the bank. Maybe this could be an interesting point to call out to when you are in a conversation with someone who has less exposure to cryptocurrency in general. |
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So in the same way you can buy exposure to the price of gold without ever actually buying gold, JPMorgan clients can buy exposure to the price of bitcoin without ever actually buying bitcoin.
Thanks for clarifying my thoughts. So they are in partnership with Greyscale and then basically, they are doing that indirect thing. Making sure that their client is safe by "not" directly buying Bitcoin (some exposure) and not affected proportionally tied to the BTC price but to the performance of Greyscale. I think this is ideal for those less tech savvy people that don't want to go into the hassle of creating wallets, safe keeping seed phrases and registering to exchanges, etc. |
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Are they going to openly trade the market or just trade the stocks of the companies that are invested in crypto? I have read somewhere that they are looking for different ways to let their clients be involved in cryptocurrency somehow, and a safe way they have done that is they trade the stocks with somehow relation to cryptocurrency. I think this is still the case with this.
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Don't you think that the recent breaking of ATH has made it the 2021 bull run already? And just because of that, most speculators have said that it's going to be the same from the end of 2021 to the year 2022. That it's going to be breaking the ATH. With the current holdings of the price, it is possible to have another bull run. Hopefully, soon it can happen.
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That's pretty much explanatory. Business owners wouldn't start their business if it weren't profitable in the long run. Sure, casinos give out tons of prizes but does that amount surmount the total amount of people trying to win that prize? I don't think so. It's always the house, and you can be the house if you have enough capital.
I don't think telling everyone here that you could either be a house or a gambler helps them win. There's nothing much you can do with that. Gambling should be for entertainment only, not a source of income.
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Not a lot of people look at it that way. You are checking the current percentage of your portfolio on where it is invested. Sometimes, they go all in and regret it later. With this method, you know how much you are risking and what necessary stuff you need to change if the market is not in your favor.
I don't include my crypto holdings as part of my portfolio. In that way, I separate this into various aspects of my financial capability. I take note of the amount that I get, and I convert into fiat, and that's where it comes in. Most of it is still in crypto. I guess it's not the best way, but that's just how I do it.
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This is what I don't like about people knowing crypto at the start. It's negative entirely. They would think that it's only all scams and they would share their hate on the crypto space that it wouldn't make sense for other people that they told to about it to go into it.
I liked the videos that you shared and I share the same sentiment that they should be investigated. The idea of redistributing wealth to hodlers, wow. For me, it's already should be to steer away. Lol.
For the title, it's not that okay, it didn't include the gist of the topic.
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We're not sure about the whole mechanics but this is actually exciting since there's a lot of good players already with AXIE and the only problem here is their server which they are already working to fix it. That's why in their recent announcement, they are going to create a dedicated server for this, to make sure there are no interruptions or any delays with what they are going to do. But since the contest that they are holding is for the "theme" or how the event will take place, then we are just here to wait for how this will go. https://axie.substack.com/p/axieesportsQuestions are, if there's already a competition in AXIE is there any gambling site that are willing to add this options to their E-sport?
Once there is an event that makes this official, it wouldn't be a surprise to see if sites, especially if crypto-related websites, put this in their books. Another potential source of income.
This is exciting because I feel the events that are going to happen will be held in the Philippines (most Axie players?) lol. |
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