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This "cycle" is weird, if I may say so.
I am getting 'lost' in all these gyrations, but hodling through for better or worse.
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I am reading attestations of losing 60 lb and keeping it off with a bit of bemusement.
Maybe, when you are 30 (or earlier than 40).
At a certain age (35-40, typically), body weight is stabilized and it is VERY difficult to permanently lose weight.
In fact, any loss of 5-10% of the weight is considered by the body that you are 'starving' or 'dying', so it is throwing the "book" at you by adjusting hormonal systems in a way that keeping the lost weight becomes more and more difficult.
Of course, if someone starts eating pasta twice a day every day, they would gain a lot of weight in a short duration and then simply reversing that should be possible.
Btw, humans and other animals DO lose about 10% of the weight before death (for humans, in the last year or two).
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@jjg...maybe I consider you a fiat shill, rather than one for bitcoin.
...you are always designing schemes to get rid of bitcoin and accumulate fiat which is inflating at 20-30% a year, ha ha ha.
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I downloaded it too, maybe something to do later in the year. |
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TL;DR poo-pooing eth is justifiable, but it is a strong competitor that is not to be dismissed.
It is not. Do you want to actually debate this statement, or like everyone else do you want to make a blanket generalized statement without evidence to support it? Momentum in price is not evidence that ETH contributes anything. since I am in favor of btc and NOT in favor of eth, what is there to debate? We don't have to like it or acknowledge the existence of ETH, but I can tell you that while BTC will go to $100k or higher soon, in the same time frame we are also going to see ETH go to $10k or higher. I too, saw it from the beginning, but decided not to buy any of it, or even mine it because I did not understand what it was supposed to do, or what it could achieve. What I do understand is that it is a platform for some smart contracts and all sorts of other things, and while I do not like the monetary issuance of supply and all sorts of other things about it, I know it's going to stick around for awhile, quite possibly long enough for many of us here to die of old age. The "smart" thing to consider now is if you want to or can you make profits out of this or not, or are you willing to. The maxi's inside of us (and around us) are going to stick to the "safety" of bitcoin, or that's actually the smart thing to do, stick to bitcoin. Don't bother with anything else no matter what their numbers say. No one understands them, and the guys who think they do, a lot of them lose money anyway. About the only thing even considered smarter than this, is to simply buy and hold them if you want to play with different allocations among shitcoins. Buy and hold some BTC. Buy and hold some ETH. Hold for 5 years. Do not day trade or whatever. With the understanding that there is the possibility you will lose whatever you put into any shitcoins, including ETH, but you will most likely profit from just holding bitcoin for longer than 5 years. <clipped> So the biggest most "feature rich" centralized chain will be the ultimate enemy of bitcoin. Whether that is ETH, a CDBC, or God forbit some sort of combination. Bitcoin's biggest problem is it is not well understood by not only the masses, but even it's faithful. It is misunderstood why it is important. And why ETH is fundamentally NOTHING LIKE IT. in fact it's opposite ultimately. Exactly, so we need to study it and possibly improve bitcoin (if it is possible) to counteract centralization. Also, you are right; it NOT the eth per se that is important as the opponent, it is the ideas of arbitrary tweaking that are completely not-bitcoin. For crying out loud, they made a brand new chain that is FASTER (no other worthy features and super-centralized) and, already, it has the monetary size of 10% of bitcoin with VCs pushing it. As far as how to do this "fight", I am not sure. Probably, mostly via increased usage and improvements in the ease of use. BTW, I respect the cashing-out, but the talk about it does not really help bitcoin's case, since then the ultimate goal is fiat accumulation. Bitcoin has one feature that is very similar to gold and is REALLY detested by financiers: it has NO yield. Of course, it has been so far an appreciating asset, so the yield might be unnecessary. |
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@jjg..whatever..."sticks and stones may break my bones, but..."
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TL;DR poo-pooing eth is justifiable, but it is a strong competitor that is not to be dismissed.
It is not. Do you want to actually debate this statement, or like everyone else do you want to make a blanket generalized statement without evidence to support it? Momentum in price is not evidence that ETH contributes anything. since I am in favor of btc and NOT in favor of eth, what is there to debate? |
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I generally agree on eth, which has MANY flaws with huge pre-mining being the most galling example, BUT the darned thing has momentum and there is some chance that it (or some other coin peddled by investment banks) would "flip" bitcoin.
I would be sad if it happens.
The main cause of that potential flip would be that less people (especially, developers) are working on bitcoin vs ethereum, hence less people improving it.
Human endeavors with more people actively involved tend to progress faster.
However, what do I know? Maybe eth itself would be supplanted (since it is darned expensive to use) by some other protocol, which seem to be growing and getting allegiances incredibly fast right now.
TL;DR poo-pooing eth is justifiable, but it is a strong competitor that is not to be easily disregarded.
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^^this doesn't make sense...hmmm.
..and the markets also don't..."teper-tantrum" anyone?
I don't believe it, unless they suddenly started to follow von Mises.
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Basically, I treat my Bitcoin wallet as a bank account. I just deposit funds when available, and let it grow.
Ditto. The only question is whether it is a "savings" or "checking" account (as they are called in US). For some, maybe "checking", for myself -"savings". |
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..easily triggered by the c-word, as usual. "The lady doth protest too much, methinks"
To me, it's a web site, lol
However, the populace wants to call everything under this category..I might not like it, exactly, but I won't be pissing against the wind and then be surprised by the ensuing result.
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blah blah..Celsius CFO..whatever..might affect tomorrow or Monday, hopefully, intermittently.
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Is it just me, or the world seems to be in a dark place, right now, psychologically?
The overall feeling of societal stagnation is in the air.
Maybe this is how people felt during the decline of Rome.
If we are in a similar historical point, the next few decades would not be pretty, I just hope that they would be mostly peaceful.
Strangely enough, I am very much discouraged, among other things, by the persistent silicon shortage (with regards to GPUs, mostly).
This was NOT supposed to happen in a true market economy, right?
Bitcoin is one of the true lights in the world now and, hopefully, it would survive and prosper during these tumultuous times.
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You think? To me it's a strange coincidence for this to happen on this very day. One in 30 chance, more or less. Bayes theorem no?
btc dropped coincidentally with EVERYTHING else (risk assets), that's a real correlation. |
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It would be oh so nice to fuck back these option fuckers. A form of gamma squeeze like what happened with GME, or something. Buying a full bag of lowish strike puts, just to stop the bearwhales from fucking with low prices. it takes knowledge and a shitload of money though.
I just hope they pick up their last penny while hearing the steamroller arriving slowly... only this time it's running like hell. Hurt them for good at least once, and likely they'll remember for a long time. Are individualistic, libertarian bitcoiners really worse than Reddit apes when it comes to coordinated tactics?
Time is on our side anyway, yes I know - but I am rightfully pissed off.
This is almost nothing to do with options whatever. Markets are simply reacting to news about a new variant, rightly or wrongly. I wouldn't bother with options here. |
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The market is weird right now.
As The Dude would say : "Lotta ins, lotta outs, lotta what have yous".
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75% of my stash goes nowhere this cycle. I have sold some at $60,000 & at $65,000. I even panic sold some at $57,xxx & $56,xxx recently. I have extracted a large amount of cash already & have some corn on an exchange which will be sold this year too. I’m waiting for hopefully better prices before the bull run ends on them though.
I can guarantee 75% of my stash isn’t touched this cycle. Some I’ve sold already though & that will total 25% before Christmas. I won’t regret it either. I will be retired at 35 with a new home without a mortgage, no debt, a lump sum of fiat to get me through to the next cycle. Probably look to invest in some stonks & maybe a small apartment or two to rent out also.
75% going nowhere though.
25% partially sold & will all be sold by New Year.
No regrets, after buying & HODLING since 2014 this is the first time I’ve extracted significant funds from bitcoin. I think I deserve it, less pressure & panic watching charts. Peace of mind is something important I think.
Sounds like a solid plan, well executed. Below is a small critique (from a different perspective). 1. It is more relevant for those who don't have other investments. With bitcoin still appreciating nicely, what's the point of selling an asset that appreciates 100% a year and gain an asset (RE) with rents at about 5-7% a year (plus some appreciation)? Of course, if it is a diversification move, than it is another story. 2. I don't really see a point of being retired at 35. In most cases, it does not end up well, but of course, there are exceptions. 3. Paying off the mortgage and spending cash that could gain more than mortgage (3% or even below) also sounds like a move that is typically not advisable. It is more secure this way, of course. To conclude: nicely done, but you will need to think a bit more as to how employ the cash generated. Does UK have cap gains taxes? If so, i hope that they are more modest than they are projected to be here soon. EDIT: btw, check out the fatfire reddit for tips on wealth |
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