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Posted on 3/4/24 at 1:02 pm to Longhorn Actual
quote:
It's a speculative asset.
You got this part right. The one thing BTC and any other current crypto is not is a viable currency which is what it was billed as. While you can buy a handful of goods and services directly with crypto it is still far to volatile to replace something like the USD. A FX pair is considered very volatile is there is over a 1% daily change and BTC to USD often exceeds that by orders of magnitude. People have and will make and lose a lot of money in crypto but it is still far too volatile to overtake typical currency except in black market dealings.
Posted on 3/4/24 at 1:12 pm to Obtuse1
That depends on where you are. In places where hyperinflation has destroyed the local currency, like what's about to happen to the Dollar, Bitcoin is being used as a shadow economy. Lots of bitcoin as currency in Africa, Central America, South America, etc. All the places where the socialists destroyed wealth with inflation. And it's official currency in more and more countries like El Salvador.
There's no killing it. People who think the government could do something to kill bitcoin are just ignorant of the reality of it. They can only do one thing. Tax when you offramp. And they know it. China has tried multiple times to kill it and here we are at ATH....
There's no killing it. People who think the government could do something to kill bitcoin are just ignorant of the reality of it. They can only do one thing. Tax when you offramp. And they know it. China has tried multiple times to kill it and here we are at ATH....
Posted on 3/4/24 at 1:18 pm to Cosmo
Bitcoin is the goat asset. Crypto is mostly shite though. Still 50/50 in Ethereum and Solana.
This post was edited on 3/4/24 at 1:19 pm
Posted on 3/4/24 at 1:23 pm to 21JumpStreet
I would be taking some of those bitcoin profits and buying GOLD while GOLD is low. When all the tech, real estate, dollar bubbles pop, GOLD is the only money.
Posted on 3/4/24 at 1:31 pm to Cosmo
loud when it rises
quiet when it falls
frick off
quiet when it falls
frick off
Posted on 3/4/24 at 1:35 pm to Joshjrn
quote:
Sometimes I daydream about what if, but the reality is that had I bought in back then, there is next to zero fricking chance I would have held past about $100 per BTC. Would it have been nice to have made tens of thousands of dollars on it? Sure. But I’m flat out fooling myself if I think I would have held until it was worth life changing amounts of money
Exactly. I would have bought 100 BTC for $100 and as it approached $10 a coin I would have been nervous af and would have sold.
Posted on 3/4/24 at 1:42 pm to DVinBR
quote:
loud when it falls
quiet when it rises
Switch the words and it's the anti-crypto crowd
Posted on 3/4/24 at 1:44 pm to EYE_on_LSU
quote:
while GOLD is low
What?
Posted on 3/4/24 at 1:51 pm to Boodis Man
quote:
This is gonna crash hard again. Not falling for it
You have to buy when no one is talking about it, or after people start selling off due to fear. I bought a bunch of crypto after the FTX crash.
Once you start hearing people on the news say "buy BTC", it's probably too late. I've already sold a decent chunk of my portfolio.
This post was edited on 3/4/24 at 1:52 pm
Posted on 3/4/24 at 2:05 pm to LordSaintly
quote:
Once you start hearing people on the news say "buy BTC", it's probably too late. I've already sold a decent chunk of my portfolio.
This is true with any asset class when large gains become part of the popular conversation it is time to sell and wait for the dip that will come as all the dumb money flocks in to expand and pop the bubble.
I am not a cypto bro but can you put a traditional limit order in?
Posted on 3/4/24 at 2:13 pm to Obtuse1
quote:
can you put a traditional limit order in?
I think you can do this on Coinbase, but I could be wrong. I would check with the guys in the crypto thread on the money board.
Posted on 3/4/24 at 2:14 pm to LordSaintly
If you sell it you’ll never get it back. We’re going to the moon!!!
Posted on 3/4/24 at 2:18 pm to Obtuse1
quote:
can you put a traditional limit order in?
Yes
Posted on 3/4/24 at 2:19 pm to Camp Randall
You are correct.
Posted on 3/4/24 at 2:22 pm to WhoGeaux
quote:
Take the alt coin run up and use those profits to buy BTC. Alt coins are fun but they're not a long hold. Flip them to BTC and HODL on for good.
I bought in in April 2020 when it was under $.002 so the long hold has been good so far but overall I hate alt coins and have avoided them.
I feel like if I sell I'd almost wait until BTC drops under 40k again. I feel like it almost has to. Or if ETH drops to 2.2 or so. Tough call, but I do need to get out, I can't see Doge getting up too much higher than it is and I don't like alt coins in general, but it has been a good one for me.
Posted on 3/4/24 at 2:23 pm to LordSaintly
quote:
Just sell your initial investment + 10-20%. You don't have to get completely out.
I like that. Would probably sell a little more since I got in so cheap but yea I think I'll keep some in.
Posted on 3/4/24 at 2:35 pm to Longhorn Actual
I am pretty sure that Blackrock and Fidelity's Spot ETF Bitcoin fund is backed by real bitcoin. They are in the game.
Posted on 3/4/24 at 2:53 pm to EYE_on_LSU
quote:
I would be taking some of those bitcoin profits and buying GOLD while GOLD is low. When all the tech, real estate, dollar bubbles pop, GOLD is the only money.
Gold is useless and a terrible investment
Posted on 3/4/24 at 2:55 pm to Obtuse1
quote:
I am not a cypto bro but can you put a traditional limit order in?
You can put any type of order/buy/sell that you can do with stocks. Leverage/margin anything you want.
It's a great way to go broke
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