Here is the issue with your strategy. Say bitcoin does go to $100K CAD and then $110K and then $125K and then it tops and starts to enter bear market cycle.

You will only sell maybe 4-5 branches of 0.01BTC but if we end up topping and entering the bear market then you will be selling at a lower and lower price every week. Just look at the previous cycles.

My advice. Pick a price and just stick with it. If it hits $125K CAD and you are satisfied then just take profit there and be happy.

Trust me I’m in my 3rd bitcoin cycle.

Brian Armstrong CEO of Coinbase says

"We are dealing with a LARGE surge of traffic - apologies for any issues you encounter. The team is working to remediate."


This reminds me of 2017, 2021 when exchanges were crashes due to too much demand. Also prices were all over the place. Some exchanges hit $64K, while others couldn't do the the sheer demand.

FUN TIMES AHEAD!

You can’t do arbitrage yourself these days. Only way to do it is with a bot. You can’t compete with the speed and accuracy as a bot which is always live.

Those days where you buy on one exchange and send to another to sell are long gone. They worked for SBF because he did it long ago.

There are sometimes Kimchi premiums but the issue is that you can sell on the Korean exchange but you cannot get the funds out of the country due to capital controls, hence the premium.

Wow you really were an early adopter. I assumed you had like 50BTC and you spent most of it and left the 0.7BTC because it was spare change and not worth sweeping. I did that in the past with 0.01BTC or so fractions.

Regarding the recovery. I don’t think you can recover it since it was wiped. If this was a regular hard drive then you could recover because the files are still there just the files are hidden. With the space of a phone it’s completely different.

Like someone mentioned before, see if you can get a recovery expert and maybe they can help you out.

Yeah but I am pretty sure the retail market is not leading this rally. It’s most likely the etf inflows and MSTR buying.

If you look at google trend, Reddit Cc visits, coinbase app rank, we are nowhere near levels as in the prior bull markets. Hence why we can keep rallying like this for the entire year.

I would hold at least till the halving and see how we are then. Most likely since there is less and less supply we should have a very bullish environment.

Yeah when I saw on twitter the $57K price I assumed it was a type because we were at $54K a few minutes prior. I go and check and of course after the close we pump to almost $57.5K.

No idea why we pump at NY close. Something tells me that the etf flows are leaked and if it’s a strong number they want to get in before the NY open because they assume that the market will be bidding for bitcoins at the open, pretty much what happened today.

What started this pump was the MSTR buy of 3000 BTC. Which they bought at like $51.5K. It started a rally and we ended up at $55K as the top for the NY session.

Then when the etf flows came out, we broke almost to $57.5K. Because Fidelity is around $250M and Ark is $130M and GBTC is $20M negative. So most likely IBIT will be closer to $400M and we should have a record day for inflows. Crazy times.

Today was one of the craziest days ever. I see in the morning there was a slight dip to $51K. Then later it breaks $53K and then $54K and touches $55K. And trades there for a bit. Then all of a sudden it breaks $55K and tops out at $57K. I couldn’t believe my eyes.

The flows were strong today. GBTC only had like $20M outflow but the rest are currently at like $300-400M without  the blackrock numbers. So we will most likely see record inflows today.

I never used the bitcoin test net so I had no idea the hashrate was this high. I have however had issues getting testnet tokens for Ethereum. Gorlem or whatever is called was very difficult to get. At first you had a faucet but they got rid of those. Then finally they started a market for testnet token, and I was like “this is crazy”.

But I guess it makes sense since if you want to use many of the Dapps you are better off using fake tokens instead of real ETH. When the popularity of L2 exploded the tokens were more and more difficult to gain. Hence why they started to sell them.

Bitcoin broke $53K, $54K, $55K, $56K and $57K today and the fees are 20 sats/byte. Which is very cheap. Looking at Ethereum the fees are 45 Gwei or so which is about $3 for a simple ETH transfer, so this isn't a concern really.

Most of us pretty much only do large transfers on these networks and use L2 for everything else. I have been doing this since 2017 pretty much and got used to it. Bitcoin network is not designed to be used to buy a cup of coffee and neither is Ethereum. This is where all the L2 networks like Lignting, Liquid, Arbitrium, Polygon, ZkSync, etc come into play.

Those networks are very cheap and transactions are very fast.

Yes people have been expecting a recession after Covid for years and it still hasn’t arrived. Some countries like Japan are in a technical recession but nobody is losing their jobs, just their gdp is flat.

USA is completely different because it has positive growth. And it doesn’t seem like it will stop anytime soon. So yes we might have a recession but it might be like 2 years away.

If the etfs keep their inflows at $500M per week then I can see us breaking $53K and going to the mid to high $50ks.

Basically as long as there are flows to these etfs and they aren’t negative then people won’t sell their bitcoin, because it doesn’t make sense. But once it starts to get stale then it might be the top. Which is what happened in 2021 when the BITO flows started to decline and it marked the top.

Yeah I don’t tell anyone I own crypto for this reason. Stocks sure, you can’t really steal is someone is a millionaire in stocks. It’s all digital and we don’t hold the actual certificates. Crypto is different.

In USA I guess it’s safer because many own crypto here but in many poor countries it’s risky. Especially since crypto always has this bias where if you own crypto, you must be rich. This hasn’t been true for 10 years pretty much but everyone thinks this.

Best way to avoid these attacks is to never mention crypto to anyone. If someone sees you are rich, just say you got lucky with some Tesla or Nvidia stocks.

His stance changed about a year ago when he started to pump his Trump Card NFTs. Sure it was on the Ethereum network and not bitcoin but you can’t love one and not the other.

I think his PR probably decided it’s better to be pro bitcoin to get more votes. There are millions of voters which hold crypto and one of their key decisions will be how the next president treats crypto. We don’t want some president that will be anti crypto and try to ban it.

You can’t make any money with that way, that’s pretty much cpu mining and unless your school has some powerful AMD processors to mine Monero, it’s not worth the hassle. Plus you will get in trouble if you do this since you are not allowed to mine on school equipment.

This maybe would of worked back in 2010 with BTC right before the GPU miners were launched but cpu mining has hardly been profitable for anything. Usually a GPU miner is released right away and it just dies off.

Just go to Nicehash and you can get estimates there depending on the type of gpus you got. You can put in your power price and you can see if you will make a profit or not.

These days with gpus mining the profits are horrible because ETH went POS from POW and many of the miner revenue just disappeared. Hence why many just gave up GPU mining about a year ago.

Only advice I can give you right now is to avoid leverage.

Sure 100x is nice and with a small $100 account you can enter a $10,000 position size and if you are correct you can make tons and tons of money. But the reality is that all it takes is a small move against you and you will hit your maintaince margin and get liquidated.

So avoid leverage at all costs.

I was around 10 years ago also and alot has changed. I remember my first cold wallet was a website called Bitaddress that you downloaded to a USB  and used on an offline computer. You had to generate randomness by moving the mouse around. I would print those pages, then I would destroy the printer and would send coins to that address.

I stopped using that method because you can only spend once from those addresses. Later I discovered electrum which was perfect for me. Now you got hardware wallets and such. You also got alts like ETH which you can use on the hardware wallets.

You also got better security on exchanges. Back then you could just use a password and 2fa wasn't mandatory, these days its mandatory and most don't even support SMS. So its easier than 10 years ago.

Welcome back.

Yeah these scams are getting more and more sophisticated every day. I keep a small amount of funds on any metamask wallet, rest is in cold storage which never uses any approve functions or signs into any website. I used to do some farming here and there and it was basically very scary going to every website and you are praying that you don't get drained.

This attack is pretty scary since they never approved the spend, all they had to do was connect to the site. I guess you can't even do that now. Basically don't trust any telegram links and only use official links from the developers. Its either something like this or some protocol gets exploited like some do every week or so.

Here is the issue with KYC free sites. They aren't compliant in most juristictions. And how they get you is as follows. I think MEXC did this. Most would use a VPN and since they didn't KYC in certain countries you would get away with it. However if you made too much profit they would make you to KYC due to their terms. Since you weren't actually in that country you can't KYC, and basically your funds would be frozen and they would keep them.

Go on twitter and search around for MEXC reviews. Last month some trader made good profit and they took away his funds until he complained about it. His thread went viral and got lots of attention and they finally gave his money back, but its only because they didnt want a bad reputation. However you might not get so lucky. So becareful out there.