Yeah this time it will be even more insane  |
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I think it’s just security measures. Don’t want to have all your coins on hot wallets.
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Pretty please  That would make 2024-2025 above $5M per BTC |
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If everyone holds on to their coins scarcity takes over and the price can go sky high... say millions
This is the same reason that old Ferraris can cost millions even though they were less expensive back in the day.
So scarcity is a fundamental you can rely on.
Also Bitcoin is deflationary by design...
Market cap is a useless metric because you won’t ever be able to sell all BTC for the current price...
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If TS can explain to me how to mine bitcoin using only a power socket he would have a point....
TS is missing a few details like
- the cost of a miner
- non-continuous upgrades of mining hardware
- cooling costs
- administrative costs
- housing
- insurance
- etc...
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HODL does not mean Hold On For Dear Life, it's just a misspelling that got instant fame and became a thing. https://bitcointalk.org/index.php?topic=375643.0And Fiat does not mean government issued currency, it means government issued currency not backed by an underlying asset. Correct. I introduced the acronym a long time ago (2013) and it got picked up. Someone actually traced it back to me which was amazing. But yes it is a misspelling that I turned into an acronym Feel free to use the acronym too  (no homo) |
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Seems that 80% of people in here did nothing but read the topic and didn’t read the entire post. He is not borrowing money to buy crypto. He is just borrowing fiat and taking that fiat to refinance it at a larger interest rate that he is being charged.
So he borrows money at 5% and gets paid 10% by some crypto interest and he pockets the difference. There is no risk here. He doesn’t care if Bitcoin goes up or down. His only risk is counter party and hopes that his exchange doesn’t get hacked or his computer doesn’t let some hacker in.
So there is some degree of risk but not as bad as speculative trading. This is why in 2017 most credit card companies banned people from buyin crypto with credit card because they might default on the loan if price drops.
Money not his (loan, he is on the hook = risk) Interest from crypto by counter party (risk that they run with his money or lower the interest) Just a recipe for disaster IMO Either he loses it all or the tables turn and he ends up paying for this construction for a fixed period of time... |
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I advise anyone to
1. Understand bitcoin
2. Understand how to protect their assets (keys,wallets,hot,cold)
3. Understand that it can go down just as fast as up
4. You must be prepared to wait 4 years for it to pay off
5. They can be stolen
6. Invest only with money you are prepared to lose
I help them with those questions and if they still want to do it they can do it by themselves...
I never take responsibility for their actions or losses....
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Borrowing money is a bad idea unless you have the means to pay it back over time (say mortgage).
No matter how certain the investment looks.
THERE IS A NO SUCH THING AS A FREE LUNCH! (Except HODL Bitcoin)
Such a bad idea with a high risk because let say you use your borrowed money or loan coin to reinvest in cryptocurrency like bitcoin while you're with it you will be emotional because you're focus was to generate a profit out of the borrowed money, you're being too curious and greedy at the same time because your main focus was to make the best investment especially if your borrowed money has a specific range of time to return with interest and additional burden if you don't have a source or means to pay it back (mortgage). Exactly. I was referring to a mortgage because it has intrinsic value as long as you insure it. You want to consume it whilst paying for it. But borrowing for a purely speculative good is just waiting for disaster. And bitcoin is only going up 1 in the 4 years of a cycle. This will indeed have you up all night for three plus years. If anyone wants to do something like this then sell your house and car. Live off scraps. Buy a trailer and a crappy car. Then invest everything in bitcoin one year after an ATH and in three years you will have atleast 20x your money if history repeats. (DISCLAIMER: DOING THIS CAN COST YOU EVERYTHING!!). DO AT OWN RISK!!!) |
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This phase happens every cycle. What is happening now is the following - people leaving because they made enough - weak hands pussying out - traders making profits on the volatility - newcomers getting in - whales trying to kill short selling and leveraged longs. Basically getting inexperienced crypto traders by the balls. This takes time, but the longer at this level the more people invested at this level and we can go up. No FOMO yet so no bear market yet. Will go up to >100k shortly |
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Hello. I see different platform like nexo, blockifi, etc... that can borrow you crypto or stablecoin. I'm here to ask if you have a strategy for example you borrow btc with an interest rate of 6% and then you use it on defi with 8% APR. Thanks for helpful.  <snip> ... I just put 1.57 BTC on their platform, making 6% a year that's like 0.1 BTC a year. Even if I didn't let that compound, within a few years that'll be making me a lot of money from just a little bit of my Bitcoin and completely passive income. .... until the platform gets hacked.... I don't know why people get into these problems. Bitcoin is going to go to at least $100k this cycle (maybe quite a bit more) and will easily hit $500k to $1M next cycle. What do you want more profitability for? Just buy with the money you save and don't put your bitcoin at risk for a little more profitability. +1... it’s called greed. |
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Hello. I see different platform like nexo, blockifi, etc... that can borrow you crypto or stablecoin. I'm here to ask if you have a strategy for example you borrow btc with an interest rate of 6% and then you use it on defi with 8% APR. Thanks for helpful. <snip> ... I just put 1.57 BTC on their platform, making 6% a year that's like 0.1 BTC a year. Even if I didn't let that compound, within a few years that'll be making me a lot of money from just a little bit of my Bitcoin and completely passive income. .... until the platform gets hacked.... |
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Borrowing money is a bad idea unless you have the means to pay it back over time (say mortgage).
No matter how certain the investment looks.
THERE IS A NO SUCH THING AS A FREE LUNCH! (Except HODL Bitcoin)
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60K again! The poll is officially over! The majority won!
For those about to rock, we salute you!
It was a short lived 60k... come back  |
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We do love a pump  Anyone at home yelling “pump” to their screens |
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^ Hah thanks. My background was really in finance, worked at a bank before I got into poker then some stocks trading then crypto with a little bit of gambling in sports here and there when I was playing lots of poker back in the day. I kinda suck at trading tho. It’s mostly guess work for me and a lot of bankroll management.
Most suck at trading.... therefore HODL |
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60 soon?
Maybe a temporary blip on our confirmed way much further down. Proudhon is on the Southern Hemisphere so his it’s down is our up. Physics & science |
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Calling it now. New ATH on Saturday $67K.
Math and science.
Confirmed |
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There was a huge difference between the sell down of 2017 which caught everybody off guard and thought it was just another dip and the sell downs we’re seeing today. 2017 ended the bull market, the last two and this one we’re seeing today are all controlled sell downs. At least that’s how I’m seeing it. As to why this is.. No idea. Prolly some whale selling his bags or it’s prolly another shake out before it goes back to trending up. But I’m pretty sure the bull market not over.   And some alts are in the green. Decoupling? Alt szn? If you look at the 2016 chart remind yourself that those initial humps between September and November are where we probably are now. Once this puppy goes to the moon these dips we are having, will look like jitters on the chart. It looks big now but that’s because we are working with a magnitude bigger value than 4 years ago, and no mega ATH bringing it all into context .... |
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To this we agree. I also think the concept of NFTs is awesome. But I'm not quite sure about the current execution of the idea—I only started looking into it literally days ago. It does look like an ideal way for art/content makers to monetize their creations. How about buying some art pieces now for $0.06, and selling them in a few years for $millions?* Here's something for all of us to think about. * Why do I get a sense that I'll be reading this post in 10 years' time and be filled with regret and bitterness?Lol thanks for the heads up on making money on art, sounds like true mafia shit |
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