I will be delivering a lecture or an address by weekend on a topic which would be part of the Crypto book am working on. The topic i will be teaching is "Crypto Risks: How to Minimize risks in Crypto business."
I would want to focus on trading and Investing. But, i want to know what you think on the following;
1. what are the major crypto risks that one should know and avoid by all means.
2. How do we tackle these risks or are there way to tackle the risk?
We can use btc trading and investing as a case study.
Well, I can only state what I should have been doing ALSO since I got into Bitcoin in 2013 and BTC mining. I should have been selling stuff from my attic I will otherwise 'die with' due to being lazy for Bitcoin. I 'just' started doing this last month and put $2k into BTC and 'poof' it is now worth 3.5K or some such. I just match postage and eBay fees to anything I sell on eBay along with the item $$$ ..just to make accounting easy...less hassle for the extra 'dust' added to the eBay sale. So as far as risk, very little, if you have an attic full of crap ...even if most of it is worth $25-$50 if diligent and the next pump happens to say $75k you will look like a genius. Other options would be estate sales or weekend rummage sales....lots of stuff you can pick up there and flip for 3x the value on eBay or fix up a moped or other stuff. The catch is ..it is soooooo boring!  But anyway, motivated now, bit by bit it is starting to add up. So what I tell 'newbies' to Bitcoin now....'attic mine' it is the only way to go! Brad |
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The miners have invested so much on the Ethereum mining ecosystem already. Why would they support ETH 2.0, the fork that would kill them? It is a big deal, however. All their hashrate on Ethereum if transferred on Ethereum Classic would increase difficulty and would not be profitable to mine the chain. Miners would have mined Ethereum Classic already if it was profitable. it's like the end of the ethereum miners. Maybe that's enough for ethereum mining when ethereum 2.0 is fully implemented. Ethereum miners have to switch to other crypto assets. if that's possible is classic ethereum. then there must be an increase in their market. but for now, in my opinion, ethereum classic is still not profitable for mining. Here is my view on mining these days. ETH or whatever 1 out of 3 below: 1) You sell your miners and buy BTC/ETH or whatever...if the above is true..indeed ASAP! IF this goes through on the 'timeline' mentioned in this thread and also, BTC/Crypto/ETH goes up in value...the coin you buy with equipment now will IMHO most likely always go up first and equipment follows so why risk it! 2) If you don't sell and mine the stuff..well the above POS nightmare and etc, your miner becomes a doorstop. Then closer it gets to reality the less likely you can 'convert' this soon-to-be 'boat anchor' into ETH/BTC/Crypto or whatever. Thus IF BTC/ETH/Crypto or whatever, you got for this ETH equipment doubles say (common in the past) in a couple of years at WORST you'd look like a genius. If not and Crypto dumps you have worse problems and won't sweat this. 3) A 30% correction of ETH/BTC/Crypto or whatever happens and you still have the conversion you mention in this thread happening and you have a nice a big pile of boat anchors by waiting too long I recommend as an 'aside' attic mining ..have been selling crap I'd otherwise die with-----out of the attic and converting all postage/eBay fees (match) and the full amount that shows up on PayPal just to make keeping track of the crypto dust I buy easier. Should have done this years ago. My advice if you are mining equipment, because you think BTC/ETH/Crypto is going higher..just sell the crap equipment and buy coin...if you do it won't matter if it goes up in price/sideways or down..if you HODL long enough you always win. Does not work that way last in line HODL'ing ASIC equipment though. Brad amount of auction into crypto coin dust...so whatever eBay says the fees are postage and sales tax is (i match) with the actual $$$ I get into BTC/ETH/Crypto or whatever...it adds a bit to the crypto buy as I go along and sell eBay stuff...but keeping track is easier. I Shoulda started doing this in 2003...finding out that people pay a lot of $$$$ for some dubious stuff in the attic given to me or on the cheap. Brad |
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If you are going to invest in BTC through bank then what’s wrong with fiat? You invest through banks and it will abuse your crypto money just like they abuse your fiat currency. The aim of BTC is to give authority of asset back in the hand of the owner which is greatly abused by banks for years.
Well...what I find interesting in all this...is that the first thing that wealthy/traditional money (firms like Morgan Stanley) think of when 'offering' Bitcoin services... (from what I gather was 'squeaky noises of us, us!) from rich (by that I mean over $2 million for individuals and $5 million for firms) so that THEY are allowed to be first on the train. I mean talk about 'missing the train' and investing (with the high fees for this service I'd imagine) with Mogan Stanley, to be 'first' to get this service through them. I mean the frigging 'mind boggles' when they could do the same thing on www.coinbase.com for crying out loud at a heck of a lot less $$$. But for Morgan Stanley ..that is the 'draw' ...clueless 'newbs' with more than $2 million USD to get into BTC 'exclusively' so they think. Well, it is the old way 'traditional brokerage' and money works..so whatever you're comfortable with...I guess.....but man are they gonna get taken to the cleaners for the fees on top of say normal exchange fees to boot. I'd also bet they make them 'lock in' for a year or some such. God no, Morgan Stanley won't take the risk. Quite the 'centralized' way to 'accumulate' Bitcoin a 'decentralized coin' IMHO! Idiots! Brad |
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If you are correct this indeed will put BTC over 100k IMHO, as people that have BTC seem to be 'rock solid' and continuing to HODL. The article below says this back last year...IMHO..it is even more so now....so 'essentially' IMHO newbies selling and miner mining are the avenues of getting BTC now...and as people continue to HODL and accumulate this IMHO is lessening the amount of BTC available for 'newbs' and corporations jumping on the train with the rest of us...thus, the price will 'maybe' go even more nuts in the current economic climate of banks being too big to fail and pandemic economic and 'maybe' inflation down the road 'woes' https://news.bitcoin.com/only-3-5-million-bitcoin-is-traded-worldwide-majority-of-btc-held-long-term-as-digital-gold-says-chainalysis/I mean the above was from June 20th, 2020 how much more 'apt' is it now with BTC price at 5.5 times the price it was then? The spring of BTC is being wound, tighter and tighter again, IMHO, before it 'again' jumps out of the 'jack in the box' to 'scare' all the traditional wealth/power in the world. You'd think they'd have gone f*ck it! and jumped on the BTC train by now...but it is soooooooo scary! anyway, wtf do I know, I got into BTC in 2013, instead of putting up my old bbs/game server out of 'boredom' (it was huge, lost gonzo bbs) and burning $60 a month in electricity on the puppy. At least this 'new fangled' BTC miner would pay its own electricity and 'maybe' pay for itself someday at 2x the price of setting up the huge BBS again. Also, I could help with that 'new fangled' micro-loans and decentralized money thing that was big in 2013 for the poor of the world. So I'm on a 'way' different wavelength than folks watching Bloomberg t.v. today grinding teeth with angst on getting in. yeah, BTC chips may be hard to get and difficulty may flatten out due to such at just the right time with the economic recovery and inflation fears after the pandemic. Indeed we could be looking at 'another' black swan event in price beyond even my frigging HODL view of what BTC can become. 100k could be peanuts if people really are HODL'ing on to this 'virtual land' with both hands and adding to such month by month....dare to dream! Sh*t happens, but you can bet if we are 'riding the wave, Bitmain will be also. (Bitmain: Evil Never Rests!) (tm Bitmain) Brad. |
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Started this thread as Bitcoin FUD watch for various articles. Seems the press has it both ways, in regards to whatever will get your site or news rag 'eyeballs' and such. Now that we have 'stabilized from the ATH from 'gasp' ..."last frigging week" and the 'depths of time..... Today is usual, there is NO reason to HODL Bitcoin but a 'speculation' viewpoint. Glad I did not listen to these guys on July 13th, 2020 when my BTC worth was like 5.5 times lower. I mean really? I 'especially' like the 'breathless' comments of Bloomberg News today on 'hot' stocks gaining maybe upward of 5.5% this year! Be still my heart. Anyway, below is the latest FUD, feel free to comment with your own links and your own analysis on how it always goes FOMO then FUD and then 'rinse' 'wash' 'repeat' in the BTC/Crypto world. https://news.bitcoin.com/bank-of-america-good-reason-holding-bitcoin-price-appreciation/Just goes to show, when you have concentrated wealth/power in the world..there is NO NEED for BTC/Crypto...indeed it is 'downright' scary when you can park your trust fund into an annuity and get a nice living at a 5% return...so why bother. But it really, really does get the traditional money and concentrated wealth folk up in the air when BTC/Crypto keeps handing them their ass when compared to IF they would have also got on the BTC/Crypto wagon. Again, the constant Angst, FOMO, Fear, FOLD, FUD and then repeat...is getting 'old' ....so from what I can tell, traditional concentrated wealth and money...need to 'suck it up' and get on the train...but damn hard when you 'can't' play the system like traditional markets and you are now last in on a decentralized wealth train...I mean the real fear besides that 'angst' of missing out on cheap coin 5 years ago is What if this BTC/Crypto stuff actually works and 'gasp' continues to work! That is the 'real' reason they can't 'get on the BTC/Crypto Train' would mean an 'even start' with the rest of the Newbs. Anyway, find your article on this FUD thread and chop it up! Consider taking the poll also. As an aside, I resemble 'some' of the above...but NOT my BTC/Crypto view of HODL. Brad |
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I'm still working, mostly because it's funny to not really care and be truly honest with people. And let's face it: I am too lazy to try and figure out how to sign up for my own health care.
So far they are thinking of promoting me, which would be bad.
Yes, Office Space is oddly accurate.
I can't work for anyone anymore...just can't....after retirement...I can live my 2x my modest previous lifestyle with no debt and get another 1.4k this summer from soc sec...this is off of 'traditional' investments...I would have to take up a life of crime... but only use BTC if I need to for medical emergencies or something else...but 'essentially' if you can get by without....that's the way to go...HODL. It is damn hard to 'suddenly' stop HODL'ing when Morgan Stanely today just announced for their elite over $2 million customers, they will 'allow' them in their private BTC club...with Morgan Stanely...newbies come in all shapes and wealth... sheesh... https://www.cnbc.com/2021/03/17/bitcoin-morgan-stanley-is-the-first-big-us-bank-to-offer-wealthy-clients-access-to-bitcoin-funds.htmlhas to be working with so much angst/fear wealthy among the above..in their rush and FOMO to get some BTC... I wonder how much morgan Stanley is sticking them with for their services...dumb asses... brad |
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Sorry...I got into BTC in 2013 when BTC was $150.00 and remember mining LTC at less than $1.80.
The reason the POLL on this thread here does not go over $150,000.00 is 'frankly' I need to pace myself for $$$ above that amount
or my 'heart' will basically stop from the shock. Thanks for your consideration for us old HODL'ers..we can only go so fast before we freak out
and croak.
Brad
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Yes, crypto is a property. Is an asset and almost every country see a property as an asset including cryptocurrency too.
Thanks for reminding me about the existence of the Ivory Tower. My mistake. They LOST the crypto....so it is all 'moot' anyway...  |
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So...
Big Whoop! Not!
Just means 'de-centralized' other miners in the world outside China...will be happy as hell with them being gone and $$$ going 'outside' china
on mining. This is what 'de-centralized means. Actually, on reflection..it would probably mean a pump in price on such a 'consolidation
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---------------------------- Today's Date: 3/13/2021 ---------------------------- From the current price from Coinmarketcap.com www.coinmarketcap.comATH Today as of this post! ATH! So 'far' today anyway! Current Price: $61,450.30 USD. Total BTC Needed: 16.27 BTC! For 1,000,000.00 USD! Again, using this latest price! From www.coinmarketcap.com! |
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One Year Ago Today. 3/13/2020 vs 3/13/2021! Bitcoin Price was on 3/13/2020 $4,916.78 USD! The last ATL! Again, source Link: https://encryptedreviews.com/news/bitcoin-price-history-2020/As of NOW, the price is a new ATH (so far today) on 3/13/2021 is $$61,450.30 USD! ATH Source: www.coinmarketcap.comSheesh! I have no words! Bitcoin: Always Drama! (tm BTC) -------------------------------------------------------------------------- Note: Below is how many BTC does it take to make $1,000,000.00 -------------------------------------------------------------------------- ---------------------------- Today's Date: 3/13/2021 ---------------------------- From the current price from Coinmarketcap.com www.coinmarketcap.comATH Today as of this post! ATH! So 'far' today anyway! Current Price: $61,450.30 USD. Total BTC Needed: 16.27 BTC! For 1,000,000.00 USD! Again, using this latest price! From www.coinmarketcap.com! HODL! Brad |
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Since most of Bitcoin is mined in China and depends on China's energy, do you think it is possible that Bitcoin will become centralized, with China becoming the authority?
this is false let's say a 'natural disaster' wiped out say 1/4 of all BTC mining in China next week? Due to their world-famous largest Dam in the world breaking or something. all that would happen is difficulty would go up on BTC mining and all the other decentralized miners in the world would make more $$$ per block as a result. big whoop....so a 25% gain for the other decentralized miners of the world of BTC let's say by some 'magic' All the mining in China was to go 'poof' ...say the state secretly put in 'a magic shut the Internet down in the country switch that they messed up on and shut all of such internet out of china down for a week or more or forever same result according to this link: https://www.buybitcoinworldwide.com/mining/china/the network would just make the remaining 35% of miners in china well off in difficulty as a result if 65% of the miners went poof so it is a non-issue IMHO this is what they mean by decentralization in BTC mining...it is like trying to juggle jello...just 'squishes' someplace else brad |
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3/13/2020 BTC Lowest Was Price of 2020 was $4,916.78! This is according to the below chart, by month, 2020. MONTH HIGH LOW Jan 2020 $9,501.38 (January 31, 2020) $6,965.72 (January 3, 2019) Feb 2020 $10,630.37(February 15, 2020) $8,793.50(February 27, 2020) March 2020 $9,160.39 (March 7, 2020) $4,916.78 (March 13, 2020) April 2020 $8,784.96 (April 30, 2020) $6,423.61 (April 1, 2020) May 2020 $9,999.93 (May 8, 2020)$ $8,568.88 (May 12, 2020) June 2020 $10,211.23 (June 2, 2020) $9,007.14 (June 28, 2020) July 2020 $11,113.66 (July 31, 2020) $9081.44 (July 6, 2020) August 2020 $12,301.19 (August 8, 2020) $11,063.50 (August 3, 2020) Sept 2020 $11,926.69 (Sept 2, 2020) $10,174.62 (September 4, 2020) October 2020 $13,646.02 (October 28, 2020) $10,552.04 (October 4, 2020) Nov 2020 $19,157.16 (November 25) $13,571.24 (November 3, 2020) Dec 2020 $28,891.61 (December 31) $18,250.47 (December 12,2020) From this link: https://encryptedreviews.com/news/bitcoin-price-history-2020/So anyway, at a low, low price, remember this is the day when the Covid-19 Reality 'really' hit the world with BTC/Crypto and Stock Market... but still, really, someone bought in at $4,916.78 Bitcoin? The High Price for BTC today on 3/9/21 was according to www.coinmarketcap.com was $55,627.74, heck that is not even the ATH according to the Coinmarketcap site! The ATH according to them was $56,584.23 on 2/20/2021, which was the ATH for 2021! (so far) Well, on Saturday 3/13/2021 it will be ONE YEAR since that 'rock bottom price', anyway, this is why I HODL! Wow, just Wow what a year! Brad |
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Good morning WOvians ... The next dump after a tremendous sunday. So cheap coins for you. I have sadly no fiat ...
Whose fault is it for this resistance? All coins are cheap coins  As a 'Wow" moment that I get in relation to 'cheap coins' comment above is the realization that EVERY FRIGGING TIME we have the 'wonderful' All-Time-High (ATH) for Bitcoin Price, at least 'on-paper' EVERYONE HODL'ing Bitcoin at that that 'moment in time is 'ahead' or 'even' in what they paid or on their HODL/HOARD or whatever...on their choice to get BTC! I always think ATH's are the 'ultimate' FU to Fiat-based currency and the 'dreaded' BTC is a scam FUD narrative. But as Philipma1957 said in a 'previous' post it would be nice if BTC just went sideways for 1/2 a year or more at around $50k or some such. Lull the powers that be in the world of traditional finance/centralized wealth and power into 'complacency". Another run to say $75K and the FUD/FEAR/FOMO wars and demand for regulation would return in force. I want them to just take BTC for granted for a while...nothing to see here folks..just chugging along minding our own business...move along. Not how 'Bitcoin rolls' but it is a nice fantasy...as we likely (I'm always wrong) price of BTC shoots up to $75k next week or some such. Bitcoin: Always Drama! (tm Bitcoin) Brad |
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my brother wanted to sell me his 'used' tesla a 1.5 years ago? 2 years...I just remember it was 7.5 BTC...I probably would have done this IF he would have kept the BTC...I'd be sad ..but at least the brother would have some BTC. But 'missed that bullet' sheesh...7.5 BTC for such...I would be 'sad' now...very, very sad.... so HODL. Was paying my kids .1btc to rake the yard years ago. They are happy now. I remember signature campaigns that paid 0.1 BTC per week....remember PayCoin? Before GAW went completely rotten? I THINK I got 0.33 BTC for running their chain for a week or so ..so they could setup POS with my 2013 KNC Jupiter Miner I had to 'dust off' after a couple years..the last hurrah...everyone mined for PayCoin...I mined it on some exchange for BTC direct.. Wow....hell I used to send you like 1.5 BTC to fix various lots of KNC equipment ....hope you kept it Brad lol GAW "went" That's the one scam that never suckered me in with their pretty pictures of nonexistent mining devices. well for 'awhile' you could get the GAW devices...but then they went full Paycoin scam...I mean "scam' wise they had big brass ones... he could have gotten 20 years..he got 3 years...supposedly by the article below he will be released this year https://cointelegraph.com/news/ceo-behind-gaw-miners-paycoin-ponzi-scheme-sentenced-to-21-months-in-prisonwanna bet that he 'does not' have some BTC stashed someplace...unlikely he does not, IMHO! Brad |
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my brother wanted to sell me his 'used' tesla a 1.5 years ago? 2 years...I just remember it was 7.5 BTC...I probably would have done this IF he would have kept the BTC...I'd be sad ..but at least the brother would have some BTC. But 'missed that bullet' sheesh...7.5 BTC for such...I would be 'sad' now...very, very sad.... so HODL. Was paying my kids .1btc to rake the yard years ago. They are happy now. I remember signature campaigns that paid 0.1 BTC per week....remember PayCoin? Before GAW went completely rotten? I THINK I got 0.33 BTC for running their chain for a week or so ..so they could setup POS with my 2013 KNC Jupiter Miner I had to 'dust off' after a couple years..the last hurrah...everyone mined for PayCoin...I mined it on some exchange for BTC direct.. Wow....hell I used to send you like 1.5 BTC to fix various lots of KNC equipment ....hope you kept it Brad |
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Near future one BTC,
enough to buy property!
Laughed away by fools.
I bought my first house In Mexico for less than One entire bitcoin. That was 3 years back. The price of a whole bitcoin Has tripled since then. In Toronto it Would cost 15 coins to buy An average house. I guess it depends More on location than on The price of Bitcoin. my brother wanted to sell me his 'used' tesla a 1.5 years ago? 2 years...I just remember it was 7.5 BTC...I probably would have done this IF he would have kept the BTC...I'd be sad ..but at least the brother would have some BTC. But 'missed that bullet' sheesh...7.5 BTC for such...I would be 'sad' now...very, very sad.... so HODL. |
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