d_eddie
Legendary
Offline
Activity: 2548
Merit: 3175
|
|
February 23, 2021, 02:37:13 PM |
|
Artificial scarcity? That's the whole thing about bitcoin, I think. Come on, let the poor horse get a worthy burial already.
It's not dead. Only sleeping. Pining for the fjords. Never seen a horse with such a beautiful plumage, I should say.
|
|
|
|
El duderino_
Legendary
Offline
Activity: 2562
Merit: 12443
BTC + Crossfit, living life.
|
|
February 23, 2021, 02:39:24 PM |
|
|
|
|
|
El duderino_
Legendary
Offline
Activity: 2562
Merit: 12443
BTC + Crossfit, living life.
|
|
|
|
|
LFC_Bitcoin
Legendary
Offline
Activity: 3584
Merit: 9867
#1 VIP Crypto Casino
|
|
February 23, 2021, 03:02:27 PM Last edit: February 23, 2021, 03:21:11 PM by LFC_Bitcoin Merited by El duderino_ (3) |
|
|
|
|
|
johhnyUA
Legendary
Offline
Activity: 2422
Merit: 1845
Crypto for the Crypto Throne!
|
|
February 23, 2021, 03:30:45 PM |
|
|
|
|
|
JayJuanGee
Legendary
Offline
Activity: 3766
Merit: 10478
Self-Custody is a right. Say no to"Non-custodial"
|
|
February 23, 2021, 03:35:40 PM |
|
These people who sell are always a step ahead. After 8 years of hodling I was ready to sell my first small amount BTC (not the one I bought Oct 2020) at $59444. And they knew many people will sell at 59k ish so they started the sell off at 57k Now I will rethink if I sell below $99k How about don't sell at all. At these price levels, there are ways to make an income of 10s of thousands USD a month on your exsisting stash without selling. This applies to stashes under 10 BTC too. Life is good at these levels. Fuck third-party custody, if you are considering or enticed by anything that involves that. There are some concepts in bitcoin.. the real deal bitcoin, that incentives are built in, so bitcoin is already designed to increase in value.. .what the fuck more do you need, you greedy fucks (#nohomo) who may well be seriously considering placing your coins with some stupid-ass service trying to claim legitimacy and enticing you with supposed "passive income" .. blah blah blah.. Did I say, "fuck that?" Don't be fucking trying to short-cut your BTC accumulation goals by thinking that you can "make money" using convoluted (surprise terms) contracts when if you accumulate adequately, then you will have way more options just living off the likely ongoing BTC price appreciation that has no real signs of stopping, even though it it is likely to continue to have up and down cycles along the way.. and you can take advantage of that in your long term planning and your refusal to take stupid-ass shortcuts that may well end up screwing you out of your coins by hook or by crook or just by bad luck (such as great price moves that liquidate you out of your supposed collateral that you were not able to adequately cover because you were to fucking busy gambling out of greed). You will thank me later, even if you might not be able to measure what you are thanking me for, exactly... Convoluted contracts. What are you talking about? Do you believe that anyone is going to start giving you money for your bitcoins without conditions? That is called a contract. blockfi? that is not optimal, sure, I would never give Zack my btc. However, selling covered calls is a very well known financial technique that involves NO lending and, frankly, is VASTLY advantageous to the outright selling since you are not selling anything at ALL, UNLESS the price is above whatever the value is, chosen by yourself and nobody else. Covered calls assume that you write them against whatever bitcoin you sent to the broker, they are not "naked", therefore "were not able to adequately cover" is not possible and just shows that you need to research this topic more.
Proving my point.. that these kinds of arrangements are NOT straight-forward processes Of course it s not better than hodling, but it is superior to repetitive selling up or down, skimming small amounts (or not small, whatever) that you advocate.
We can agree to disagree. Selling covered calls is actually a perfect trade for mined coins since you can lock in value without a sale or assuming a sale at MUCH higher levels if you chose to do it. If you are lucky, then you retain your btc and if not, you still sold btc at a higher to much higher price (depending on your chosen price for the contract: 75, 100, 200K). However, if btc is not sold in the end, you generate income and not cap. gains-maybe it matters for some.
since you are such a smartie pants, Biodom, have you been employing this practice? Psychologically, you should consider bitcoin on which you wrote covered calls as pre-sold right now for the price attained at some moment in the future. The person on the other of the trade gives you cash right now for the RIGHT to buy btc at that future date at the price that YOU chose (be it 75, 100 or 200K). Yea, tough luck if btc is at 300K and the guy would approx 30X his money and you only get 200K/btc+whatever premium is currently there. Your counterparty would made bank, but so what, you still get your 200K, keep the premium
Fair enough. and did not dilly-dally with "little" buys/sells at 56K.
unnecessary dig
|
|
|
|
AlcoHoDL
Legendary
Offline
Activity: 2422
Merit: 4360
Addicted to HoDLing!
|
|
February 23, 2021, 03:41:50 PM |
|
Man, those laser eyes! Keep it up guys, such fun, much wow, too lulz. Can't wait to see lasers coming out of other body orifices @ $100k, $500k, $1M...
|
|
|
|
Parazyd
|
|
February 23, 2021, 04:08:50 PM |
|
Lasers please
|
|
|
|
Richy_T
Legendary
Offline
Activity: 2478
Merit: 2153
1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
|
|
February 23, 2021, 04:12:07 PM |
|
I got a better idea, Richy. Why don't you leave the block size issue up to the Bitcoin core developers to decide what/when/how to do about it?
Ok? Instead of coming back here just to kick an old hornet's nest with the WO peeps?
That's pretty much where I am right now. But I think it's an issue that's far from over and I think it's fair to point out when it has negatively affected some parts of Bitcoin that people think are still viable. Non-custodial DCA for the small investor is pretty much off the table in this example. Bitcoin has gained a lot of friction. Whether you think that's a good or a bad thing, it has to be accounted for. Given that it may ultimately affect the price, I think it's on-topic for this thread (though I agree it doesn't need to be done to death). Not least, I'm sure there are newer members of this thread who are unfamiliar with the history.
|
|
|
|
infofront (OP)
Legendary
Offline
Activity: 2632
Merit: 2790
Shitcoin Minimalist
|
|
February 23, 2021, 04:13:10 PM |
|
|
|
|
|
Richy_T
Legendary
Offline
Activity: 2478
Merit: 2153
1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
|
|
February 23, 2021, 04:14:49 PM |
|
Probably accurate as most people have no life savings. Cold wallets though, surely?
|
|
|
|
AlcoHoDL
Legendary
Offline
Activity: 2422
Merit: 4360
Addicted to HoDLing!
|
|
February 23, 2021, 04:20:13 PM |
|
I just discovered the Binance Credit card. Sounds too good to be true! Are there any downsides?
The above post got me thinking... The time when many HoDLers will start making use of their newfound wealth is fast approaching, so it's a good idea to start planning about the practical aspects of this. The way I intend to use my coins in the near future (after possibly resigning from my current job, but before getting my pension, which is decades away) is not so much for large purchases, but more for normal everyday purchases. As things currently stand, I will have to convert to fiat and then use that to buy things. I was thinking of doing batch conversions every month, say $2k/month and use it for the month's expenses. The danger with this approach is that my bank may notice this and question me about where those $2k come from. I have nothing to hide, but I want to avoid being targeted for inspection, and when it comes to Bitcoin it can be difficult to explain it to traditional bank people. Guilty until proven innocent and all that... So, I was wondering about the benefits of getting a Bitcoin-funded credit card. I transfer $2k worth or coins to Binance (or whatever other company can provide a Bitcoin-funded CC) every month, and then do my shopping using said CC. It must be available to EU citizens. The other approach is to withdraw fiat as cash from Bitcoin ATMs. This would be the most anonymous and secure method, albeit the most expensive (but, where we're going, I don't think I'll care much about a 5-10% premium). What do you think about this? Does it make sense? What companies, except Binance, can provide Bitcoin-funded CCs? Any recommendations? Is anyone here already using such services? Thanks in advance for any info/pointers.
|
|
|
|
proudhon
Legendary
Offline
Activity: 2198
Merit: 1311
|
|
February 23, 2021, 04:53:17 PM |
|
It took a bit longer than I expected due to a small error in my complicated math calculations, but now I've proven a perfect correction to the math and science model so that it is perfectly perfect now. And now it is clear that the ATH top of forever has been set and bitcoin will resume its trend deeply and bigly down. The price of bitcoin will never go above the fake news/Saylor/Elon pump attempt high. My model still perfectly predicts that the price of bitcoin in 2022 will be less than $10k and by 2023 will be close to $1,000. This is a once in a lifetime proven short opportunity.
|
|
|
|
greensheep
Member
Offline
Activity: 278
Merit: 44
|
|
February 23, 2021, 04:54:09 PM |
|
I just discovered the Binance Credit card. Sounds too good to be true! Are there any downsides?
The above post got me thinking... The time when many HoDLers will start making use of their newfound wealth is fast approaching, so it's a good idea to start planning about the practical aspects of this. The way I intend to use my coins in the near future (after possibly resigning from my current job, but before getting my pension, which is decades away) is not so much for large purchases, but more for normal everyday purchases. As things currently stand, I will have to convert to fiat and then use that to buy things. I was thinking of doing batch conversions every month, say $2k/month and use it for the month's expenses. The danger with this approach is that my bank may notice this and question me about where those $2k come from. I have nothing to hide, but I want to avoid being targeted for inspection, and when it comes to Bitcoin it can be difficult to explain it to traditional bank people. Guilty until proven innocent and all that... So, I was wondering about the benefits of getting a Bitcoin-funded credit card. I transfer $2k worth or coins to Binance (or whatever other company can provide a Bitcoin-funded CC) every month, and then do my shopping using said CC. It must be available to EU citizens. The other approach is to withdraw fiat as cash from Bitcoin ATMs. This would be the most anonymous and secure method, albeit the most expensive (but, where we're going, I don't think I'll care much about a 5-10% premium). What do you think about this? Does it make sense? What companies, except Binance, can provide Bitcoin-funded CCs? Any recommendations? Is anyone here already using such services? Thanks in advance for any info/pointers. They do something similar, currently applying for a card here. https://crypto.com/en/index.html
|
|
|
|
Tash
Sr. Member
Offline
Activity: 1190
Merit: 305
Pro financial, medical liberty
|
|
February 23, 2021, 05:03:27 PM |
|
I just discovered the Binance Credit card. Sounds too good to be true! Are there any downsides?
The above post got me thinking... The time when many HoDLers will start making use of their newfound wealth is fast approaching, so it's a good idea to start planning about the practical aspects of this. The way I intend to use my coins in the near future (after possibly resigning from my current job, but before getting my pension, which is decades away) is not so much for large purchases, but more for normal everyday purchases. As things currently stand, I will have to convert to fiat and then use that to buy things. I was thinking of doing batch conversions every month, say $2k/month and use it for the month's expenses. The danger with this approach is that my bank may notice this and question me about where those $2k come from. I have nothing to hide, but I want to avoid being targeted for inspection, and when it comes to Bitcoin it can be difficult to explain it to traditional bank people. Guilty until proven innocent and all that... So, I was wondering about the benefits of getting a Bitcoin-funded credit card. I transfer $2k worth or coins to Binance (or whatever other company can provide a Bitcoin-funded CC) every month, and then do my shopping using said CC. It must be available to EU citizens. The other approach is to withdraw fiat as cash from Bitcoin ATMs. This would be the most anonymous and secure method, albeit the most expensive (but, where we're going, I don't think I'll care much about a 5-10% premium). What do you think about this? Does it make sense? What companies, except Binance, can provide Bitcoin-funded CCs? Any recommendations? Is anyone here already using such services? Thanks in advance for any info/pointers. They do something similar, currently applying for a card here. https://crypto.com/en/index.htmlAll sorts of payment options in development with zero fee and spent straight form wallet, no shady exchange needed. Not only cards NFC and such, pay at supermarket and also withdraw cash from cashier.
|
|
|
|
Gyrsur
Legendary
Offline
Activity: 2856
Merit: 1520
Bitcoin Legal Tender Countries: 2 of 206
|
|
February 23, 2021, 05:10:32 PM |
|
It took a bit longer than I expected due to a small error in my complicated math calculations, but now I've proven a perfect correction to the math and science model so that it is perfectly perfect now. And now it is clear that the ATH top of forever has been set and bitcoin will resume its trend deeply and bigly down. The price of bitcoin will never go above the fake news/Saylor/Elon pump attempt high. My model still perfectly predicts that the price of bitcoin in 2022 will be less than $10k and by 2023 will be close to $1,000. This is a once in a lifetime proven short opportunity.
Statistical Analysis (SA) says appearance of a bear tard is a bullish sign.
|
|
|
|
proudhon
Legendary
Offline
Activity: 2198
Merit: 1311
|
|
February 23, 2021, 05:11:07 PM |
|
It took a bit longer than I expected due to a small error in my complicated math calculations, but now I've proven a perfect correction to the math and science model so that it is perfectly perfect now. And now it is clear that the ATH top of forever has been set and bitcoin will resume its trend deeply and bigly down. The price of bitcoin will never go above the fake news/Saylor/Elon pump attempt high. My model still perfectly predicts that the price of bitcoin in 2022 will be less than $10k and by 2023 will be close to $1,000. This is a once in a lifetime proven short opportunity.
Statistical Analysis (SA) says appearance of a bear tard is a bullish sign. That's not been proven by perfect math.
|
|
|
|
Richy_T
Legendary
Offline
Activity: 2478
Merit: 2153
1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
|
|
February 23, 2021, 05:20:28 PM |
|
The danger with this approach is that my bank may notice this and question me about where those $2k come from. I have nothing to hide, but I want to avoid being targeted for inspection, and when it comes to Bitcoin it can be difficult to explain it to traditional bank people. Guilty until proven innocent and all that...
Probably not. As an immigrant who has had to deal with foreign accounts, income, inheritance and now crypto, I've handled it all openly and legally and I've heard not a peep from the bank or any government agency. I suspect there will be focus on crypto at some point but I've been quite surprised the foreign stuff has been as smooth as it has. Quitting your job can have a positive impact on your capital gains taxes too, I believe. Oh wait, did you imply you're in the EU? Nothing I said is probably relevant then.
|
|
|
|
Gyrsur
Legendary
Offline
Activity: 2856
Merit: 1520
Bitcoin Legal Tender Countries: 2 of 206
|
|
February 23, 2021, 05:21:28 PM |
|
It took a bit longer than I expected due to a small error in my complicated math calculations, but now I've proven a perfect correction to the math and science model so that it is perfectly perfect now. And now it is clear that the ATH top of forever has been set and bitcoin will resume its trend deeply and bigly down. The price of bitcoin will never go above the fake news/Saylor/Elon pump attempt high. My model still perfectly predicts that the price of bitcoin in 2022 will be less than $10k and by 2023 will be close to $1,000. This is a once in a lifetime proven short opportunity.
Statistical Analysis (SA) says appearance of a bear tard is a bullish sign. That's not been proven by perfect math. I won't go into much detail but my Bayesian inference model proved it with accuracy of 99.2 percent.
|
|
|
|
proudhon
Legendary
Offline
Activity: 2198
Merit: 1311
|
|
February 23, 2021, 05:23:32 PM |
|
It took a bit longer than I expected due to a small error in my complicated math calculations, but now I've proven a perfect correction to the math and science model so that it is perfectly perfect now. And now it is clear that the ATH top of forever has been set and bitcoin will resume its trend deeply and bigly down. The price of bitcoin will never go above the fake news/Saylor/Elon pump attempt high. My model still perfectly predicts that the price of bitcoin in 2022 will be less than $10k and by 2023 will be close to $1,000. This is a once in a lifetime proven short opportunity.
Statistical Analysis (SA) says appearance of a bear tard is a bullish sign. That's not been proven by perfect math. I won't go into much detail but my Bayesian inference model proved it with accuracy of 99.2 percent. Unconfirmed
|
|
|
|
|