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Biodom
Legendary
 Offline
Activity: 2786
Merit: 1990
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August 02, 2020, 01:39:34 AM
Last edit: August 02, 2020, 02:25:54 AM by Biodom |
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Today's movement is weird since it is all over the place. I cannot really talk about it without mentioning specific alts, but talking about specific alts, especially those which think of themselves as contenders, is not my intention. Rather, the fact is that some of them, including those which did not do anything for months, suddenly are full of action, rising 15-20%. Ok, will mention long suffering grin just for giggles, since it is such a minor token. The rest would remain nameless, but you can check for your own amusement. I wonder what is coming down the pike next week. geez these guys are so modest comparing to tether, lol. |
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BobLawblaw
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August 02, 2020, 01:46:08 AM |
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Short liquidations pushed us into $11.9 territory.
$12k now in play.
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xhomerx10
Legendary
Offline
Activity: 2870
Merit: 4166
Go! BTC Go!
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August 02, 2020, 01:51:38 AM |
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Come on Bitcoin!  |
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JayJuanGee
Legendary
Offline
Activity: 2758
Merit: 4753
ESG, KYC & AML are attack vectors on Bitcoin
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August 02, 2020, 01:57:22 AM |
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Today's movement is weird since it is all over the place
Sure... "weird" is a reasonable descriptor, even if just focusing on kingdaddy. As I am typing, I am observing a current price (peakening) of $11,949 - and looks like it wants to push higher - which is the highest price that we have seen since 8/7/19 |
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heslo
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August 02, 2020, 01:58:58 AM |
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Short liquidations pushed us into $11.9 territory.
$12k now in play.
Yep, I think we will break it today |
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Toxic2040
Legendary
Offline
Activity: 1190
Merit: 2371
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-snipped-
I wonder what is coming down the pike next week.
there is all of this..and if it was me..and some of that was mine...I would probably be looking around pretty hard at options right now...just saying 196 countries..86-87ish trillion top 25ish M2 in 2017 via CIA.gov  2019 article img by VisualCapitalist  i can hear the brrrrrring from here..must be getting close to 100trillion soon? whoa dude..did i just get that?........carry on #dyor #btd's #stronghands |
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goldkingcoiner
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August 02, 2020, 02:22:59 AM |
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The poll seems a bit outdated. We need a new one. Maybe one about when the first wave of fomo'ers invade WO?
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infofront
Legendary
Offline
Activity: 2422
Merit: 2350
Shitcoin Minimalist
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^ Will keep in mind for a future poll Before then, I'd like to revisit (I think?) a poll we've had before. It's topical to the discussions lately about cashing out. Old poll:  |
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lightfoot
Legendary
Offline
Activity: 2702
Merit: 2013
I fix broken miners. And make holes in teeth :-)
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August 02, 2020, 03:04:28 AM |
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Good poll, will see how it turns out. Meantime it keeps on purring up.
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bitserve
Legendary
Offline
Activity: 1526
Merit: 1284
Self made HODLER ✓
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August 02, 2020, 03:21:12 AM |
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It looks like this next bull run has well and truly started.
I have been HODLing pretty much most of my corn over the last 6 years apart from a small sell off back in early 2018.
I am now thinking about my next steps to ensure my retirement and to increase my BTC stash to leave as a legacy for my children.
My plan is to cash a small amount out somewhere between 40 to 100K to retire on.
I was thinking that I would continue to HODL 25% of my corn and begin to sell about 75% into a stablecoin backed by gold or some other fairly stable asset (PAXG perhaps?)
Then spread the PAXG over several lending platforms and earn interest while the price of bitcoin takes its natural course back through the next bear cycle (late 2022??).
Once we bottom out and begin the next upward trend after the next halving the plan is to buy back in with PAXG or whatever stablecoin would work.
The reason for using a stablecoin is twofold
1) Receive high interest yield on lending platforms
2) Avoid paying large Capital Gains taxes.
I was interested in my WO bretheren's thoughts on this.
So what do you guys think?
First, I will assume you mean 40K to 100K yearly? Anyway, I am not sure it is a good idea to retire early (another assumption) just having secured expense for only one or two years (another assumption) and taking for granted that they will keep coming or even that BTC couldn't crash dramatically. Second, stablecoins.. yeah, it is a possible diversification but I wouldn't put all (or most) my eggs onto that. Diversify is key here: FIAT, Stablecoins, real estate, gold, maybe even some stocks (lol).... a mix. Third, lending platforms? eeeeeeccccckkk Again not where I would put a substantial amount at risk... In the end it is you who know in detail your finances and what percentages to assign to each asset but, overall, I don't think your plan is solid (IMHO). Sorry about that. P.S.: Also, you don't avoid paying CGT by going into stablecoins. It is just the same as if you went into FIAT. Again, sorry about that. Ah wasn't aware that you still pay CGT when going in to stable coins. That definitely puts a spanner in the works. I didn't explain myself very well regarding cashing out a small portion. I meant I will be selling enough to be able to retire early when the BTC price reaches the region between 40 and 100k. I wasn't specifying the amount I was going to cash out. That makes more sense then. So I assume you have already calculated the amount you will need in order to retire and the approximate price where you would do it. That part of the plan seems solid then. Just also take enough additional to pay for the corresponding CGT and try to diversify: FIAT, stablecoins, real estate, gold... |
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JayJuanGee
Legendary
Offline
Activity: 2758
Merit: 4753
ESG, KYC & AML are attack vectors on Bitcoin
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August 02, 2020, 03:40:42 AM |
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Short liquidations pushed us into $11.9 territory.
$12k now in play.
Yep, I think we will break it today Oh? That's a very risky prediction.  |
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infofront
Legendary
Offline
Activity: 2422
Merit: 2350
Shitcoin Minimalist
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August 02, 2020, 03:57:42 AM |
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Today's movement is weird since it is all over the place. I cannot really talk about it without mentioning specific alts, but talking about specific alts, especially those which think of themselves as contenders, is not my intention. Rather, the fact is that some of them, including those which did not do anything for months, suddenly are full of action, rising 15-20%. Ok, will mention long suffering grin just for giggles, since it is such a minor token. The rest would remain nameless, but you can check for your own amusement. I wonder what is coming down the pike next week. geez these guys are so modest comparing to tether, lol. ETH is on a tear too. It's ok to say it. In previous cycles, people seemed to bounce between the two, resulting in alternating pumps. This time, BTC and ETH are pumping together. Strange, but I guess it's due to all this DeFi nonsense. |
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JimboToronto
Legendary
Offline
Activity: 3038
Merit: 2487
You're never too old to be young.
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August 02, 2020, 03:59:21 AM |
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$12k
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Icygreen
Legendary
Offline
Activity: 1466
Merit: 1064
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August 02, 2020, 04:01:54 AM |
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12K unlocked!  |
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xhomerx10
Legendary
Offline
Activity: 2870
Merit: 4166
Go! BTC Go!
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August 02, 2020, 04:09:12 AM |
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JSRAW
Legendary
Offline
Activity: 1190
Merit: 1315
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August 02, 2020, 04:10:06 AM |
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lightfoot
Legendary
Offline
Activity: 2702
Merit: 2013
I fix broken miners. And make holes in teeth :-)
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August 02, 2020, 04:11:14 AM |
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Hm. 12k. Hey, remember when we were stuck in the 11,000's for what seemed like forever? God that was hell.
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xhomerx10
Legendary
Offline
Activity: 2870
Merit: 4166
Go! BTC Go!
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August 02, 2020, 04:12:00 AM |
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I'm afraid I'll miss something if I go to bed. BTC is on a tear. Is there any resistance before 12350?
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Poll
