Bitcoin

[BHC Vic]

Crypto for sure, not really Bitcoin though.

 

[was thatguy]

Bitcoin itself is not a moonshot candidate.
It’s the steady metric. The potential % gain is more long term than fast money.
Crypto in general requires some risk and some calculations.
Moonshots are there, but it’s a guess as to which one is next?
New Etherium based contracts (for example) tend to spike and then crash…by design.
To me I treat my crypto wallets like retirement funds.
I keep a variety of well established long term positions, and have a few fingers crossed moonshots on retainer as well! Lol

Here’s Wences take on Bitcoin itself.
It’s important to remember that Bitcoin and crypto are 2 different discussions.
Bitcoin is a coin, crypto is all digital currency.

 

[SoCalDave]

Dogecoin up 25% over the past week.

Dogecoin Jumps as Dogechain Gains Traction Among Retail Crypto Traders

The Polygon Edge-based Dogechain locks nearly $5 million in liquidity and is gaining prominence among retail crypto traders.

www.coindesk.com

 

[Orange Juice]

Anyone have an opinion on bitcoin ? It went over 30k today and some think it will go to 500k

It went to 16k this week, and some say it will be under 10k buy January 2023.

 

[JayBreww]

It went to 16k this week, and some say it will be under 10k buy January 2023.

But but but it’s the way of the future.

 

[COCA COLA COWBOY]

I got out of Crypto and will probably never go back. I love trading ETF's, feel so much more comfortable and able to sleep at night.

If there is something in the future that get's "squeezed" then it's worth jumping in with an amount you aren't afraid of losing. Never have the idea that your going to hold forever, those people get hurt bad!

 

[was thatguy]

I don’t know about all this talk of the future, but I enjoyed quadrupling a lump sum crypto investment in a span of 10 days last month.
And it wasn’t with Bitcoin.

 

[was thatguy]

Uh oh!!
Bitcoins back to $18K!!
Now what do I do??
Lol

Since inception Bitcoin reached a peak return of over 9 MILLION % in 2020.
9 MILLION percent. Think about that.

It’s head and shoulders far and away nothing even close the grand champion of investments probably for the last century…and That was before it’s peak price….
Considering Bitcoin sold at about $0.0009 a share around 2009, I find it sort of humorous to mock it DROPPING to a measly $16K a share…lol
At $16K it’s a 1,777,777.77% return on a 13 year holding.
At $10K it’s still over a million %
By comparison Gold has not quite doubled in the same 13 years….
I did the math once and the odds of hitting a moonshot with crypto in general is about 12,000 times more likely than winning the powerball drawing. Yet we buy those without hesitation.

If you think Bitcoin is crypto, and crypto is Bitcoin I highly recommend staying out of it.
If you treat all crypto like stocks, I also highly recommend staying out of it.
I don’t care if it’s “real”, or if it has a future, or who invented what.
When any purchase exceeds 3% I’m in the black and can dump it or not.
(I’m up $1500 since I started typing this)

Btw, my new strategy Is directly due to reading Coca colas day trading posts!

 

[Gonefishin5555]

Livin on the edge last night I bought $100 of ETH and woke up to $115. probably send it to my online sports betting account and run it back to zero on Sunday

 

[was thatguy]

Livin on the edge last night I bought $100 of ETH and woke up to $115. probably send it to my online sports betting account and run it back to zero on Sunday

$15 for sleeping is a good deal!
Hell yes!
But seriously, that’s 15% overnight.

The hardest part for me to overcome was the long term mentality. I still have those positions, but I don’t mess with them.
When a crypto goes up and down 50% or more like clockwork it’s pretty easy to buy low and sell high, even for me.
I have 2 that never fail. And they will be moonshots one day too.
It’s like the entire world is doing the same thing as me with those 2 cryptos.

 

[traquer]

Bitcoin investing is easy (in theory). Crypto and shitcoin investing is hard. Then you add the human psychology on top of it. Fucking very difficult any way you cut it.

Some people get lucky and get out, others get lucky but throw it all back to the house, and there's others who didn't do shit even with all this opportunity the past 10 years. I'm somewhere between the latter two.

If someone can show me steady crypto trading income year after year for the past 5 years I will listen to them. Nobody else. That's the way I look at it. Buying and holding BTC and ETH is my game, I'm no trader.

 

[HCP3]

Exchanges are the problem. Most recently FTX.

 

[Gonefishin5555]

$15 for sleeping is a good deal!
Hell yes!
But seriously, that’s 15% overnight.

The hardest part for me to overcome was the long term mentality. I still have those positions, but I don’t mess with them.
When a crypto goes up and down 50% or more like clockwork it’s pretty easy to buy low and sell high, even for me.
I have 2 that never fail. And they will be moonshots one day too.
It’s like the entire world is doing the same thing as me with those 2 cryptos.

The thing with trading any volatile asset is that its easy to make money until it isn't any more. EVERYONE gets caught on the wrong side eventually and when they do they usually choke and give back way too big of a loss. I've seen it repeat over and over again. I was trading COIN a little and I did this now I'm down $25 a share. I could probably start over and make that $25 a share up in 2 or 3 months but I get investing paralysis and sit on it.

 

[pronstar]

Exchanges are the problem. Most recently FTX.

I don’t understand why people would put their crypto in an exchange.

It’s not an asset that kicks-off a dividend.
The exchanges business models are all predicated on the value of crypto rising to infinity.

 

[spectras only]

TTT

Since the FTX fiasco, an estimated 1 million crypto investors will find out problems claiming their losses at tax time. I've read FTX dude converted crypto into gold and silver before the bust. It could take years dealing with the IRS.
Records shows Sam donated millions to democrats, so no wonder you don't hear much from Maxine Waters. The Democrats will try to create some bail out for those involved because they do not want anyone digging in on this Ponzi scheme IMO.
Also, the billions laundered to Ukraine as a return ticket finding its way to politician's pocket, democrats will try throwing a wrench in the wheels of investigations for sure.

 

[Orange Juice]

TTT

Keep your day job.

 

[spectras only]

Keep your day job.

What day job are you talking about? I usually sleep in til 9 or 10 , too late for crypto/btc trading, haha

Just reading this now> https://www.foxbusiness.com/money/ftx-customers-irs-ponzi-rules-loom-large
FTX customers will face a nightmare when they file their income tax returns next year. The firm's legal and accounting problems may prevent customers from filing on time, and it could be months—or even years—before they can deduct their losses. There’s a good chance many FTX users, who numbered 1.2 million at the end of 2021, will be forced to file extensions.