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Link Posted: 11/20/2020 10:55:47 PM EST
Can't wait for the dump. Its where the fun starts.

Link Posted: 11/20/2020 11:00:42 PM EST
[Last Edit: 11/20/2020 11:01:07 PM EST by GraboidHunter]
I been mining for awhile now.  Make enough to keep my main gaming PC upgraded yearly and pay the electric bill.   No lambos for me, but I did just sell at 18,500 and might go get a used Miata or something.  Will probably just buy more BTC when it crashes down to 5k in a few weeks.

I find the fan noise from mining (got about 15 cards) helps with tinnitus and the free heat is nice in the winter.

Link Posted: 11/20/2020 11:05:08 PM EST
I think it'll climb in the end, but it's due for a big correction downward IMO.  Frankly, everything is.  Its shocking how overvalued some stuff is at the moment.

Link Posted: 11/20/2020 11:05:26 PM EST
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Originally Posted By GraboidHunter:
I been mining for awhile now.  Make enough to keep my main gaming PC upgraded yearly and pay the electric bill.   No lambos for me, but I did just sell at 18,500 and might go get a used Miata or something.  Will probably just buy more BTC when it crashes down to 5k in a few weeks.

I find the fan noise from mining (got about 15 cards) helps with tinnitus and the free heat is nice in the winter.

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what are you mining?

Link Posted: 11/20/2020 11:27:06 PM EST
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Originally Posted By david05111:
I think it'll climb in the end, but it's due for a big correction downward IMO.  Frankly, everything is.  Its shocking how overvalued some stuff is at the moment.

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The trouble has always been "from where to where".

Does it correct tomorrow from $18k down to $12k?

Does it continue this rally to $30k and then correct down to $25k?

I've been through enough Bitcoin bubbles to know that nobody really knows and either scenario is possible.

I'm not calling this a bubble yet but during the last bubble, Bitcoin smashed through all time highs many times never to return.  The 2013 ATH was about $1200 and when Bitcoin got back to that point in 2017 it smashed through it and never looked back.  You never even got a chance to buy it again for even double that price.

The only way to make sense of gambling on Bitcoin is to be willing to hold it for several years to the point that the short term swings don't make a difference.  You'll drive yourself mad with "woulda, coulda, shoulda".  Believe me, I started buying at $200 in 2013 and stopped at $400 thinking that it was due for a correction.  In the end, it turned out that any price I could have paid that year would have been a good price.  Even at $1000 which at that time felt like an impossibly high value.  We are now getting the the point where almost every price you could have paid during the 2017 bubble would have been a good price.

Also remember that both the 2013 and 2017 bubbles occurred over the course of an entire year.  It wasn't just a straight line up in either case.  There were many corrections along the way within those years and some of those corrections took weeks if not more than a month.

Case in point:

Attachment Attached File


Did it really matter in the end if you had bought just prior to that correction?

Link Posted: 11/20/2020 11:30:18 PM EST
Don't Buy Bitcoin. It's Going To Crash!!!
Link Posted: 11/20/2020 11:40:06 PM EST
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Originally Posted By captainpooby:



Wait. What? How do you do this?
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Wallets can interact with dapps. Dapps are decentralized applications. Dapps allow you to interact with smart contracts.

Send my eth to a smart contract and lend it out for small interest. When I decide I want to spend some money, I take out a loan to myself in DAI and deposit to coinbase where it's flipped to USD. I then buy a thing.

I can now service my loan by paying back the dai plus interest. The ETH has gone up in value since I took out the loan but I never sold it so no tax event. I pay back the dai and I can unlock my eth.

Nifty.
Link Posted: 11/21/2020 12:16:44 AM EST
Link Posted: 11/21/2020 12:24:49 AM EST
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Originally Posted By dog-meat:


what are you mining?

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Just renting GPU power to Nicehash.  Mining whatever they want.
Link Posted: 11/21/2020 12:32:04 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By GraboidHunter:


Just renting GPU power to Nicehash.  Mining whatever they want.
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What kind of hash rate do you have?  I've been wanting to add some more but I'll need to add some dedicated circuits.  My house is wired all kinds of weird and I don't want to be spending all of my time flipping breakers.  I figure two more dedicated circuits in the garage would be good enough for now.
Link Posted: 11/21/2020 12:32:24 AM EST
Now is not the time to buy bitcoin.

Never buy on the upswing unless you want to lose your ass.

Now is the time to keep some for long term and sell some at various points along the upswing.

Once sold set various buy points for the inevitable downturn.

Oh and make sure to track your purchases so the IRS doesn’t love  you tenderly.
Link Posted: 11/21/2020 12:33:54 AM EST
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Originally Posted By david05111:
I think it'll climb in the end, but it's due for a big correction downward IMO.  Frankly, everything is.  Its shocking how overvalued some stuff is at the moment.

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Bitcoin isn't parabolic yet so I think it has a bit to run
Link Posted: 11/21/2020 12:37:09 AM EST
I have $100 on Cash App right now. Should I turn it into Bitcoin? lol. Or nah.
Link Posted: 11/21/2020 12:40:09 AM EST
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Originally Posted By dog-meat:

https://atomic.loans/
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Originally Posted By dog-meat:
Originally Posted By captainpooby:



Wait. What? How do you do this?

https://atomic.loans/


1st time I'm hearing this too, but at the same time, it's a smack in the face - DUH!
Link Posted: 11/21/2020 12:45:59 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By DTFD714:
Now is not the time to buy bitcoin.

Never buy on the upswing unless you want to lose your ass.


Now is the time to keep some for long term and sell some at various points along the upswing.

Once sold set various buy points for the inevitable downturn.

Oh and make sure to track your purchases so the IRS doesn’t love  you tenderly.
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How can you possibly know that?

Remember back in 2013 when Bitcoin was upswinging past $50 and never returned?   Remeber back in 2017 when Bitcoin broke through its previous ATH of $1200 and never returned?

Its certain that all runs like this eventually end with a stiff correction but nobody has a clue if both the peak and subsequent valley of this current run lies higher than the current price or straddles it.

The best advice I can give anyone is that if you really want to be in this space, then don't sweat it either way.  If another serious bubble happens, it won't matter whether you bought at $10k or $18k.

If you aren't betting on another bubble, you shouldn't be screwing with this stuff in the first place.  This kind of risk is insane to accept if your game plan isn't to hang in there in hopes for a 4th bitcoin bubble that once again shatters previous all time highs.
Link Posted: 11/21/2020 12:49:25 AM EST
Sooo I should buy $100 of Bitcoin is what I’m hearing...

Honestly I just have $100 on cash app and have no clue what to do with it and I saw I can convert it right there lol.

Link Posted: 11/21/2020 1:21:37 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By RedFox1911:


Bitcoin isn't parabolic yet so I think it has a bit to run
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all aboard the moon rocket

Link Posted: 11/21/2020 1:27:12 AM EST
[Last Edit: 11/21/2020 1:27:43 AM EST by mancow]
My guess is it will settle around $50k until the next run in a few years.
Link Posted: 11/21/2020 1:39:04 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By hvla:

What? People dont want $s? News to me. Cash that shit out and buy real estate.
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Originally Posted By hvla:
Originally Posted By noFoTeeneR:
Not if those birds are dead and nobody wants them.

What? People dont want $s? News to me. Cash that shit out and buy real estate.

LOL! Cash out BTC he bought for around $400ish? Terrible advice. Hodling makes way more sense. Like he said there are no more BTC to be had once it's all mined. Deflationary asset. Having somewhere between 1 and 10 BTC is a smart move for any retirement portfolio. Not suggesting buying now, just saying if someone already has theirs they best hold on to it. The time to buy was right before the 2017 run-up or after the big crash in 2018-2019 while it was low. Right now it's hodl and let it ride.

Who knows, in 5 or 10 years one BTC might be worth $250k or even $500k. Then his 3.5 BTC could be worth $1.75M...
Link Posted: 11/21/2020 3:04:44 AM EST
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Originally Posted By SheltiePimp:
Institutional acceptance has already happened, and they are acquiring like crazy.

When guys like Ricardo are announcing this it's plain to see BTC is not just a scam, it's a real deal store of wealth.

https://www.bloomberg.com/news/articles/2020-11-18/billionaire-salinas-has-10-of-liquid-portfolio-in-bitcoin
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Originally Posted By SheltiePimp:
Institutional acceptance has already happened, and they are acquiring like crazy.

When guys like Ricardo are announcing this it's plain to see BTC is not just a scam, it's a real deal store of wealth.

https://www.bloomberg.com/news/articles/2020-11-18/billionaire-salinas-has-10-of-liquid-portfolio-in-bitcoin

It's easier to see that when you live somewhere that the government destroys your currency on a regular basis, and now you're watching the central bank for the world's reserve currency doing the same.

LINK RLC UNI MATIC OCEAN EWT UBT DOT RSR REN BTT TRMP WALT RAVEN WHTEVR DOGE SHIT

All of the above have legit business use cases and have serious corporate backing, Defi is especially interesting.  2021 is going to be a crazy year in crypto.

Ok, NOW we're officially in a bubble that won't end well, again.
Link Posted: 11/21/2020 3:21:35 AM EST
It'll go up and and it'll go down.  Definitely wont go back down below $5k again, IMO.  I only have about $3k in it right now but I plan on riding it out.  I also have no idea how I get it out of my coinbase account.
Link Posted: 11/21/2020 5:33:25 AM EST
[Last Edit: 11/21/2020 5:46:48 AM EST by DDiggler]
2017 had Bitcoin smash through all previous barriers and went on to it's ATH of $19k. After that it fell back eventually to $3k... Which is way higher than any of its previous highs before 2017.

I don't think that $19k is the ATH this time, because the one thing in common between 2017 and now is that both times Bitcoin had recently gone through a halvening. Each time that happens, Bitcoin goes on to reach new ATHs and basically "levels up" in average value with much higher highs and higher lows.
Link Posted: 11/21/2020 10:48:52 AM EST
xrp up over 30% so far this AM
Link Posted: 11/21/2020 11:01:19 AM EST
My portfolio is up over $7k this past month alone.

Portfolio up 5x since March 12, 2020 when the market hit bottom. LTC was $25/ea. ETH was $100/ea that day.

Currently LTC is $85/ea.  while ETH is $535/ea.

Loving it, but keeping an eye on it to sell at the peak.
Link Posted: 11/21/2020 11:07:11 AM EST
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Originally Posted By ARandomClaymore:
My portfolio is up over $7k this past month alone.

Portfolio up 5x since March 12, 2020 when the market hit bottom. LTC was $25/ea. ETH was $100/ea that day.

Currently LTC is $85/ea.  while ETH is $535/ea.

Loving it, but keeping an eye on it to sell at the peak.
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What do you figure the peak is?

Link Posted: 11/21/2020 11:08:32 AM EST
Everything else s moving in some pretty good swings. Looks like it may get interesting  in the next few months.
Link Posted: 11/21/2020 11:13:53 AM EST
[Last Edit: 11/21/2020 11:24:40 AM EST by ARandomClaymore]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By woodsie:


What do you figure the peak is?

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My opinion, a correction at $20k, then peak for the near future between $22-25k.

LTC is undervalued along with ETH at the moment. Im looking for them to peak $200 and $750, respectively.

XRP is XRP. While it's up big over the last day, its a fraction of it's all time high close to 3 years ago. I cashed out a majority of it a long time ago. Still have some and riding profits of it.

Edit: my first dabbing into Crypto was in Dec 2017 when I bought my first ETH at $575. Sold it days later (for $1300) just under it's peak of around $1400. While I have invested some out of pocket funds, I have rolled my profits over and over building up my portfolio over the last 3 years.

Yes, I've hit and miss. My biggest miss was swapping out of Chainlink before it blew up this summer. Coverted from Chainlink to LTC when Chainlink was around $3.50. Chainlink hit about $20 at it's peak.. Opps!
Link Posted: 11/21/2020 11:23:25 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By ARandomClaymore:


My opinion, a correction at $20k, then peak for the near future between $22-25k.

LTC is undervalued along with ETH at the moment. Im looking for them to peak $200 and $750, respectively.

XRP is XRP. While it's up big over the last day, its a fraction of it's all time high close to 3 years ago. I cashed out a majority of it a long time ago. Still have some and riding profits of it.
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Originally Posted By ARandomClaymore:
Originally Posted By woodsie:


What do you figure the peak is?



My opinion, a correction at $20k, then peak for the near future between $22-25k.

LTC is undervalued along with ETH at the moment. Im looking for them to peak $200 and $750, respectively.

XRP is XRP. While it's up big over the last day, its a fraction of it's all time high close to 3 years ago. I cashed out a majority of it a long time ago. Still have some and riding profits of it.


Fair enough.  I'm not confident enough to try and trade short term swings.  I'm holding until the next bubble at a minimum.  The last two bubbles took nearly a year to play out so even if this is the start it could be until next Fall before it plays out fully.

Talking out of my butt but I think the big signal is whether it breaks through the ATH or bounces off of it.  

If it bounces off it then it could be any number of months before it tests it again.

If it breaks through,  I think FOMO takes over and it officially marks the beginning of the next bubble.

There was no turning back once the 2013 ATH was breached in 2017.



Link Posted: 11/21/2020 11:26:30 AM EST
Link Posted: 11/21/2020 11:27:28 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By woodsie:


Fair enough.  I'm not confident enough to try and trade short term swings.  I'm holding until the next bubble at a minimum.  The last two bubbles took nearly a year to play out so even if this is the start it could be until next Fall before it plays out fully.

Talking out of my butt but I think the big signal is whether it breaks through the ATH or bounces off of it.  

If it bounces off it then it could be any number of months before it tests it again.

If it breaks through,  I think FOMO takes over and it officially marks the beginning of the next bubble.

There was no turning back once the 2013 ATH was breached in 2017.



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I hear you. Profit is profit. See my edited post above. I bought that Chainlink back in March when it was about $1.25 and converted when it hit $3.50. Yes a big miss, but still profit was made. Now that LTC has lit up. It's evening out in the long run.
Link Posted: 11/21/2020 11:31:59 AM EST
Link Posted: 11/21/2020 11:34:58 AM EST
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Originally Posted By billth777:
xrp up over 30% so far this AM
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MOON!!!!


Link Posted: 11/21/2020 11:45:15 AM EST
Link Posted: 11/21/2020 3:57:17 PM EST
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Originally Posted By billth777:
xrp up over 30% so far this AM
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I bought some XRP the other day at .28 I was pleasantly surprised this morning
Link Posted: 11/24/2020 6:15:41 AM EST
I played around with it last go, what exchange is the current hotness?  

I mostly used Binance, but had heard they no longer allowed Americans to trade. Any truth to that?
Link Posted: 11/24/2020 8:40:10 AM EST
[Last Edit: 11/24/2020 8:42:28 AM EST by captainpooby]
This morning it’s 19,220, up 67% month to month and 97% of its ATH 19,783.

If it passes the ATH then 20k is a psychological barrier then it’s off to the races.

Gold is down about 70 bucks the last two days.
Link Posted: 11/24/2020 8:41:55 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By mchgnxj24:
I played around with it last go, what exchange is the current hotness?  

I mostly used Binance, but had heard they no longer allowed Americans to trade. Any truth to that?
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Coinbase and Coinbase Pro.   I can't think of any good reason to stick money on an overseas exchange except to gamble on obscure alts.  Odds of the money dissappearing are too high.
Link Posted: 11/24/2020 8:59:37 AM EST
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Originally Posted By Default-Gateway:

They have printed more dollars in the past 9 months than in the 100 yrs prior.  Go figure why BTC is up.
Institutional money is flooding in and there are only 3ish million BTC left to be mined.

For reference, if you invested that $1200 check you got from Uncle Sam a couple months ago in BTC, it would be worth over $3200 now.  Let that sink in.
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MMMhhmmmm. I actually spread it around a bit more than that, but yeah. I had planned to buy a rifle, when they decided to give me a check for what I was spending on the rifle I didn't just save the rest in the bank, I bought crypto. I am pretty happy with the rifle, but it isn't worth three times as much today with every sign of continuing to go up.

I've had a couple lousy performers but overall my bags are looking nice lately. I'm still trying to decide if I'll sell at some point during the rally and rebuy after the eventual crash or not. I'm historically bad at timing these things and screwing it up and still having to pay the taxes would probably eat most of the potential gains compared to just hodl.
Link Posted: 11/24/2020 9:18:45 AM EST
[Last Edit: 11/24/2020 9:23:43 AM EST by captainpooby]
GBTC is 23.00 in premarket bids.

For those that don’t know, GBTC is Greyscale Bitcoin Trust, a Bitcoin ETF that trades over the counter in the real stock market. Each share is just under 1/1000th of a Bitcoin. It’s price is determined not just by the price of bitcoin but also by its own trading, same as all ETFs.
Link Posted: 11/24/2020 10:19:23 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By captainpooby:
GBTC is 23.00 in premarket bids.

For those that don’t know, GBTC is Greyscale Bitcoin Trust, a Bitcoin ETF that trades over the counter in the real stock market. Each share is just under 1/1000th of a Bitcoin. It’s price is determined not just by the price of bitcoin but also by its own trading, same as all ETFs.
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The guy in charge of protecting their private key must be shitting diamonds from the pressure.  

Link Posted: 11/24/2020 10:28:17 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By captainpooby:
This morning it's 19,220, up 67% month to month and 97% of its ATH 19,783.

If it passes the ATH then 20k is a psychological barrier then it's off to the races.

Gold is down about 70 bucks the last two days.
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I sold at $19950 last peak. Put my limit sell just under $20k.  Should have sold all of it instead of half. I was trying to push some of my taxes off onto the next year.
Link Posted: 11/24/2020 10:34:48 AM EST
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Originally Posted By woodsie:


The guy in charge of protecting their private key must be shitting diamonds from the pressure.  

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He has it in a Post it note stuck to his monitor.
Link Posted: 11/24/2020 10:35:55 AM EST
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Originally Posted By dog-meat:


He has it in a Post it note stuck to his monitor.
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Originally Posted By dog-meat:
Originally Posted By woodsie:


The guy in charge of protecting their private key must be shitting diamonds from the pressure.  



He has it in a Post it note stuck to his monitor.


Right where thieves least expect it.
Link Posted: 11/24/2020 10:39:50 AM EST
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Originally Posted By dog-meat:



He has it in a Post it note stuck to his monitor.
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It hit $24 today. That’s almost a 25% premium to the NAV. I’d say the sentiment is very bullish.
Link Posted: 11/24/2020 10:41:01 AM EST
Originally Posted By captainpooby:
From 11,400 to 17,900 in the last month. ATH few years ago was about 20k.

I wonder whatever happened to the board member here who cashed out 21,000 bitcoins when it hit a thousand bucks. It’d be worth nearly 400 million now. Yoiks!
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I think he cashed out at least half of it when it hit around $800- 850 and that still made him a $10+ millionaire. can you imagine what the cashout would be like if you got out at peak last time? Damn.
Link Posted: 11/24/2020 10:43:00 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By dog-meat:



He has it in a Post it note stuck to his monitor.
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Originally Posted By dog-meat:
Originally Posted By woodsie:


The guy in charge of protecting their private key must be shitting diamonds from the pressure.  




He has it in a Post it note stuck to his monitor.


In all seriousness -- and I know you all know this, but I am posting for the thread readers -- those types of ultra high value keys are protected by one or more of

a) multisignature
b) Hardware security modules
c) ???
Link Posted: 11/24/2020 10:43:59 AM EST
[Last Edit: 11/24/2020 10:46:24 AM EST by Kihn]
...
Link Posted: 11/24/2020 10:53:32 AM EST
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Originally Posted By Mopseydocks6014:
It'll go up and and it'll go down.  Definitely wont go back down below $5k again, IMO.  I only have about $3k in it right now but I plan on riding it out.  I also have no idea how I get it out of my coinbase account.
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After all the influx going on over the last few days I moved my XRP over to Coinbase from binance.. Initially binance was the only place to buy XRP so since I made purchases last, Coinbase expanded their coins.. Cashing out from Coinbase is relatively easy.. Im not really sure of the process on Binance, which is why I moved it.
Link Posted: 11/24/2020 10:57:45 AM EST
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Originally Posted By mchgnxj24:
I played around with it last go, what exchange is the current hotness?  

I mostly used Binance, but had heard they no longer allowed Americans to trade. Any truth to that?
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I received an email stating something to that effect... Another reason I switched my xrp to coinbase... I still have some XVG over there.. But Im not really sure on how to move it out... I have a very small fraction (.000000012) of BTC there too.. To small for a transfer though..
Link Posted: 11/24/2020 11:05:44 AM EST
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Originally Posted By wpsharpshooter:



After all the influx going on over the last few days I moved my XRP over to Coinbase from binance.. Initially binance was the only place to buy XRP so since I made purchases last, Coinbase expanded their coins.. Cashing out from Coinbase is relatively easy.. Im not really sure of the process on Binance, which is why I moved it.
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Originally Posted By wpsharpshooter:
Originally Posted By Mopseydocks6014:
It'll go up and and it'll go down.  Definitely wont go back down below $5k again, IMO.  I only have about $3k in it right now but I plan on riding it out.  I also have no idea how I get it out of my coinbase account.



After all the influx going on over the last few days I moved my XRP over to Coinbase from binance.. Initially binance was the only place to buy XRP so since I made purchases last, Coinbase expanded their coins.. Cashing out from Coinbase is relatively easy.. Im not really sure of the process on Binance, which is why I moved it.


Binance is a Chinese company based in Malta.  Getting out of there and getting into Coinbase is a good call as they are a U.S. based company.

I'm a strong believer in having a throat that I can physically go choke in the event of shenanigans.  I'm sure plenty of former Mt. Gox users would agree.
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