serveria.com
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January 04, 2021, 10:44:10 AM |
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Told ya. Some guys are blindly bullish. Whales got the news earlier. I think they know some FUD coming out soon.
A dump for ants... recovering...
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WastedLTC
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January 04, 2021, 10:48:30 AM |
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A dump for ants... recovering... Back above 30k -- we all kinda wanted some dump to see how price would hold and so far price has held really well. This is going to provide some solid confidence and up we go. [Warning Alt Mention, skip ahead] ETH didn't even move (still above 900) -- Anyone trying to say "Glad I sold!" will just be eating those words when they pay tax and buy back less coins in a panic.
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serveria.com
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January 04, 2021, 10:48:52 AM |
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_javi_
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January 04, 2021, 10:50:34 AM |
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Yesterday i sold ETH mining profits at $820 before the rise to $1000, then stood in usdt (10k ) for awhile. Hours later i bought BTC at $34k. As a trader, i'm a good miner. But today i had a degenerate buy order @$28200 which executed like a pro. (Fiat funds came from a stupid sell i did last month ) I felt like crap all this month having that fiat. Weird feelings when you held coins for years.. tldr: -Dont trade, its gambling. -BTC hodling is an addiction.
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Poker Player
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January 04, 2021, 10:51:36 AM |
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Not that I'm saying this is going to happen. It's just what I would do in the worst-case scenario. I think it will take a year at least to enter a bear market.
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serveria.com
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January 04, 2021, 10:55:16 AM |
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tldr: -Dont trade, its gambling. -BTC hodling is an addiction.
Now we're talking!
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serveria.com
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January 04, 2021, 10:56:49 AM |
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Not that I'm saying this is going to happen. It's just what I would do in the worst-case scenario. I think it will take a year at least to enter a bear market. And, according to your previous post, we're not going to reach $50k before going into bear? Pfff.....
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aesma
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January 04, 2021, 10:58:15 AM |
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I'm not into alts although I hold some just in case (like one ETH, one BCH...). I bought the ETH recently at 400$, didn't check the price since then, 1000$ ? I guess I did good.
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HairyMaclairy
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Degenerate bull hatter & Bitcoin monotheist
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January 04, 2021, 11:02:21 AM Last edit: January 04, 2021, 11:25:44 AM by HairyMaclairy |
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How central banks boosted bitcoin Deficits, debt and fears of currency debasement have stoked the record-breaking rally in digital currencies
AUSTRALIAN FINANCIAL REVIEW.
It's tempting to dismiss the surge in the price of bitcoin and ethereum as a speculative blow-off powered by hot money chasing momentum. But the rally in digital currencies reflects an unease about the unholy trinity of debt, deficits and debased currencies forged by policymakers desperate to revive growth. The rally in bitcoin beyond $US30,000 ($38,850) is a digital indictment of the easy money policies embraced by the world's central banks, as increasingly aggressive balance sheet expansions obliterate the concept of a price for risk and fuel an ever-growing "everything bubble".
In an era when monetary policymakers are trying to out-dove each other, where once unconventional policies – such as quantitative easing and yield curve control – have become standard operating procedure, it's easy to understand why more capital is seeking an exit from, or a hedge against, a system where central banks have gone wild. Bitcoin's deterministic monetary policy – only 21 million will be issued at a set pace – looks relatively sober compared to the $US3 trillion expansion in the Federal Reserve's balance sheet and $140 billion swelling in the Reserve Bank of Australia's since the start of the virus crisis. Digital currencies are no longer the preserve of fintech geeks. Bitcoin has won the backing of US hedge fund legends Paul Tudor Jones and Stanley Druckenmiller, while US-listed companies Square and MicroStrategy have invested some of their corporate treasury in the digital currency.
Digital Asset Capital Management chief executive and co-founder Richard Galvin says 2020 was a "break-out year" for the sector amid an embrace of bitcoin's "digital gold" narrative and the broadening adoption of decentralised finance, or DeFi. That shift in perception was reflected in its Digital Asset Fund returning about 420 per cent last year, while its DAF Liquid Venture Fund returned just under 500 per cent. Where the growing interest in digital currencies reflects a desire to step outside the traditional central banking system, the adoption of DeFi highlights the flow of capital beyond traditional banking and finance. Mr Grider acknowledges there are downside risks. "Prices have had a significant run and profit taking may slow or reverse the rally."
The fusing together of capital and technology into programmable money provides innovators with a potentially powerful tool when interest rates are near zero, yields are miserly and central bank engineering of the shape of the yield curve has changed the rules of the banking and finance game. Investors have been left with no choice but to chase risk in a world devoid of yield. TINA – there is no alternative – has become the catchcry for investors pouring into stocks, commodities and digital currencies given the meagre returns on offer at the bank or in bonds. But nominal yields only tell part of the story. Real, or inflation-adjusted, yields are nil or negative, meaning there is no opportunity cost for investors in non-income producing assets such as gold and digital currencies. The stock of debt trading at a negative yield stands at $US17.7 trillion. Bitcoin has also been helped by the slide in the value of the US dollar to a 2½-year low. The prospect of yet more debt being deployed to prop up US growth in 2021 means more supply of dollars. This will keep the Fed buying bonds to repress yields as the US Treasury makes a greater call on lenders. And around and around it goes.
America's debt story is no model for the world Almost a decade on from the US having its credit rating downgraded from triple-A by Standard & Poor's, holders of US dollars in the form of US Treasuries have watched successful administrations make a mockery of the debt ceiling. The August 2010 downgrade came when US government debt was $US14.3 trillion – it's now $US27 trillion. And let's not get started with the $US100 trillion-plus of long-term entitlements that still need to be paid and funded with yet more greenbacks.
While it's easy to claim bitcoin is being driven by speculators, its rise partly reflects concerns about the ongoing speculation by policymakers on the durability of debt-fuelled growth. Central banks need only look in the mirror to understand bitcoin's success.
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serveria.com
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January 04, 2021, 11:03:36 AM |
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The amounts that got sold in the last couple days are alarming. Do they know what we dont yet? Cant decide to sell or wait. I mean only the small amount I bought at 21k and 26k Euro. Have a feeling we go down to hell soon...
The spreading of the mindrust virus is alarming! Weak hands problem
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Poker Player
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January 04, 2021, 11:03:57 AM |
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Not that I'm saying this is going to happen. It's just what I would do in the worst-case scenario. I think it will take a year at least to enter a bear market. And, according to your previous post, we're not going to reach $50k before going into bear? Pfff..... No. Read again. Or stop smoking pot, lol.
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strawbs
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January 04, 2021, 11:09:06 AM |
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MANY shitcoins in the top 50-100 are showing 30-90% daily gains. I have no idea why.
Retail noobs. Institutional buying drives up Bitcoin price... media reports Bitcoin price increase and use word "crypto"... noobs react to media with FOMO... noobs think, "it's too late for Bitcoin, I'll buy cheaper crypto"... noobs buy shitcoins. It's that simple. I think it really is that simple in some cases, along with "Bitcoin's too expensive, I can't afford $30k - so I'll buy a cheap shitcoin instead."
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freedomno1
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Learning the troll avoidance button :)
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January 04, 2021, 11:14:29 AM |
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I'm not into alts although I hold some just in case (like one ETH, one BCH...). I bought the ETH recently at 400$, didn't check the price since then, 1000$ ? I guess I did good.
You did Good
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serveria.com
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January 04, 2021, 11:15:51 AM |
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Not that I'm saying this is going to happen. It's just what I would do in the worst-case scenario. I think it will take a year at least to enter a bear market. And, according to your previous post, we're not going to reach $50k before going into bear? Pfff..... No. Read again. Or stop smoking pot, lol. Maybe it's just me or bad wording but I got it like that. Or maybe you can explain what you were trying to say?
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Chrystora123
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Omicron is another FUD
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January 04, 2021, 11:16:44 AM |
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LOL
Are we dead already?
snip..
are you still alive? "LOL" (kidding bruhh) formula to getting rich quick = buy Bitcoin during a market correction..
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Cryptotourist
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January 04, 2021, 11:21:18 AM |
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Told ya. Some guys are blindly bullish. Whales got the news earlier. I think they know some FUD coming out soon.
Hey wait. There is nothing special going on right now, what whales, what news, what FUD? In fact, the BTC correction and the simultaneous alt pump, are almost to.the.day on time as in 2017 - the 5th of January.
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Poker Player
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January 04, 2021, 11:22:55 AM |
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Not that I'm saying this is going to happen. It's just what I would do in the worst-case scenario. I think it will take a year at least to enter a bear market. And, according to your previous post, we're not going to reach $50k before going into bear? Pfff..... No. Read again. Or stop smoking pot, lol. Maybe it's just me or bad wording but I got it like that. Or maybe you can explain what you were trying to say? Maybe a bit of both. First I was laughing because the weak hands are going to think that we are going to die. So in a day like this they will sell. O the contrary, I will only sell when certain milestones are reached, like I have already done. Next one is $50k. So, I believe this is a small, natural, healthy correction, but even if this turned into a nightmare and we went into a bear market, which I don't believe it is likely, I would keep my strategy and I wouldn't sell a dime until we reached $50k. Maybe I tried to be sarcastic but it didn't work.
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Dave1
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January 04, 2021, 11:35:49 AM Last edit: November 18, 2023, 02:18:38 AM by Dave1 |
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aesma
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January 04, 2021, 11:42:02 AM |
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I think it really is that simple in some cases, along with "Bitcoin's too expensive, I can't afford $30k - so I'll buy a cheap shitcoin instead."
During the 2017 bull run I was in vacation with family, I couldn't resist talking about BTC, a cousin asked how to buy, I talked about an exchange. Next day he had bought 5 random altcoins (fortunately the exchange I suggested only has relatively big ones). He's a poker player so I guess he doesn't have weak hands, he managed to sell after some days with good profits..
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LoyceV
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Thick-Skinned Gang Leader and Golden Feather 2021
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January 04, 2021, 11:42:54 AM |
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No new ATH today I guess. The day just started If you earn btc via mining or via signature . Selling long upticks is a must thing to do.
ie
12000 12500 13000
wait for it
15000 15500 16000 That won't work in a 2018-scenario where the price keeps dropping, so I can't do this. I am taxed on the value at the moment I earn anything, so the tax amount gets fixed to that price, while the future value is uncertain. That's okay when the price is low, but at current prices, I can't risk being taxed a high amount if the price drops a lot. It would be a great thing to do when prices go up: earn x euro, pay tax on x euro, and sell it when the value is much higher. Capital gains aren't taxed here (but losses aren't tax deductible either). You're saying you're taxed on BTC earnings, is that right ? If so, then sell the BTC amount that will pay the tax at that same moment you get it. I'm already hating paying capital gains taxes (that has been lowered to 30%, it used to be more than 50%), but paying taxes on a value that is no longer there would be terrible. Correct, so I now sell some Bitcoin each week. I keep some too of course Capital gains tax isn't as bad as you think: long-term, our tax system is worse. Depending on how much you own, you pay 0 to 1.76% savings tax per year. At the highest rate (which, unfortunately, I don't pay), you're down 16.3% in 10 years. In 20 years, taxes take 29.9% and in 40 years you lose 51.8% to taxes. At least a capital gains tax is only once and you're done. Bitcoin is now more than S-E-X: Am I the only one who checks the price before and after sex to see how much we earned (or lost) doing it?
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