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Bitcoin-Explain to me how to buy these things (6 Viewers)

soothsayer said:
Is Binance recommended? If so, does anyone have a referral code they'd like to share? Just wading into the pool. TIA.
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PM'd you in case you haven't gotten one yet.

Side note: I just today got the aforementioned "we can't service U.S. customers" message :lol:  . Did you guys that got that message just have to set up a Binance US account then transfer your holdings, or did they show up automatically? 

 
Did you hear about the kid who asked his dad if he could borrow $10 in Bitcoin?

Dad replied, "Why do you need to borrow $10.44? And when are you going to pay me back my $9.72??    😆

 
I was thinking over the weekend.  With the power in numbers these WSB guys seem to have, when are they going to flood the crypto market?  Maybe wishful thinking on my part, but it seems so obvious that might be their next step.  

There is nothing stopping these guys from going on a buying campaign and making some of these cheap alt coins go thru the roof.  

I'm trying to actively talk myself out of having a small position in all of them right now.  I feel like they could make a .12 coin like DNT shoot to $300 over night.  

Am I alone here?  

 
Could be coincidence, but Saylor's bitcoin conference this week may be having a positive impact on btc as well as mstr.

 
jb1020 said:
I was thinking over the weekend.  With the power in numbers these WSB guys seem to have, when are they going to flood the crypto market?  Maybe wishful thinking on my part, but it seems so obvious that might be their next step.  

There is nothing stopping these guys from going on a buying campaign and making some of these cheap alt coins go thru the roof.  

I'm trying to actively talk myself out of having a small position in all of them right now.  I feel like they could make a .12 coin like DNT shoot to $300 over night.  

Am I alone here?  
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The ethos of the crypto space has quite a degree of alignment with motivation of the WSB crowd.  What last week showed was the potential of a new hive minded investor class that could wreck havoc situationally.  But as we’ve seen this week, the sustainability of their ‘attack’ was limited.  That’s where I think as they expand their scope of consideration, BTC and the crypto space will become a larger avenue of engagement and investment.  If I’m not mistaken, WSB restricted crypto discussion on their Reddit forum...while they may continue that policy, the amount of ‘adds’ to the Bitcoin Reddit forum has skyrocketed since last week.

To your scenario though on the $.12 coin going to $300...doubtful.  The institutions are just starting to put BTC and maaaaybe ETH onto their books.  But they aren’t touching the speculative coins yet and certainly not shorting them which was the dynamic that led to $GME and $AMC mooning; the over-excessive shorting.  DOGE is the perfect example of the WSB crew hiving together.  Their chart looks like a needle.  But the high was short-lived.
 

brun said:
Could be coincidence, but Saylor's bitcoin conference this week may be having a positive impact on btc as well as mstr.
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Likely...he’s talked about this being the largest event MSTR has ever hosted in terms of CEO engagement (over 1400).  I’m sure we’re seeing a lot of front running because if even just 5% of that audience gets swayed...that’s not insignificant.

 
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TheDirtyWord said:
The ethos of the crypto space has quite a degree of alignment with motivation of the WSB crowd.  What last week showed was the potential of a new hive minded investor class that could wreck havoc situationally.  But as we’ve seen this week, the sustainability of their ‘attack’ was limited.  That’s where I think as they expand their scope of consideration, BTC and the crypto space will become a larger avenue of engagement and investment.  If I’m not mistaken, WSB restricted crypto discussion on their Reddit forum...while they may continue that policy, the amount of ‘adds’ to the Bitcoin Reddit forum has skyrocketed since last week.

To your scenario though on the $.12 coin going to $300...doubtful.  The institutions are just starting to put BTC and maaaaybe ETH onto their books.  But they aren’t touching the speculative coins yet and certainly not shorting them which was the dynamic that led to $GME and $AMC mooning; the over-excessive shorting.  DOGE is the perfect example of the WSB crew hiving together.  Their chart looks like a needle.  But the high was short-lived.
 

Likely...he’s talked about this being the largest event MSTR has ever hosted in terms of CEO engagement (over 1400).  I’m sure we’re seeing a lot of front running because if even just 5% of that audience gets swayed...that’s not insignificant.
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I get that, but then I look at all the alt coins and some just literally take off and go to the moon.  AAVE this time last year was .51.  Now its $340.  66,000% increase in less than a year.  And its been steady, not a needle like DOGE.  

I guess I'm trying to wrap my mind around what makes these increase like that.  Its a lazy strategy, but I think I'm going to start a small position in all these Alt Coins, especially the ETH Tokens.  Worst case scenario is one of them bottom out and be worthless.  Best case scenario is one takes off like AAVE and $250 turns into $30k.  

And if alt coin talk isnt allowed in the BTC thread we should start alt coin thread.    

 
jb1020 said:
I get that, but then I look at all the alt coins and some just literally take off and go to the moon.  AAVE this time last year was .51.  Now its $340.  66,000% increase in less than a year.  And its been steady, not a needle like DOGE.  

I guess I'm trying to wrap my mind around what makes these increase like that.  Its a lazy strategy, but I think I'm going to start a small position in all these Alt Coins, especially the ETH Tokens.  Worst case scenario is one of them bottom out and be worthless.  Best case scenario is one takes off like AAVE and $250 turns into $30k.  

And if alt coin talk isnt allowed in the BTC thread we should start alt coin thread.    
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One of the great things IMO about the DeFi space is that you almost can be your own VC; investing in unicorn type projects early as opposed to equity markets where by the time you have access to put your money in, all of the VC’s have piled in at much lower valuations.

With regard to the DeFi space, it’s gone from $1B locked to over $30B locked in less than 12 months.  This has obviously been a propellant in many projects having their prices rocket up.  AAVE is a great success story no doubt as it’s use case, lending, has been a staple for investment and more importantly, activity.  There are other protocols though like OCEAN, where I like the project...I just wonder if it’s early.  At the same time, I’m not sure we’ll see $900B locked into DeFi by 2/22.  Maybe...who knows.

My interpretation?  The protocols being used are the projects seeing exponential upward valuations.  SNX, LINK are other ones I’m long in as they either perform essential functions for DeFi (LINK) or showcase explosive potential use case (SNX) opportunities.   But overall, DeFi in general is very speculative.  And the bottomline is most projects will fail...you‘ll hear the term ‘scam coins’, and I think that’s misleading.  There are lots of projects that are earnest and want to change the world...they just don’t make it.  I suspect VC’s will invest in start-ups and realize a complete loss quite often...they just never see the light of day from a ‘news’ perspective.

I’m far down the rabbit hole though, so everybody’s entry into the space is different. 

 
Now I gotta fight the urge to buy a Tesla with Bitcoin.  

Anyone think you'll get a slight discount if you purchase with Bitcoin?  I could see Elon offering a 5-10% discount if you pay in BTC.   

 
jb1020 said:
Now I gotta fight the urge to buy a Tesla with Bitcoin.  

Anyone think you'll get a slight discount if you purchase with Bitcoin?  I could see Elon offering a 5-10% discount if you pay in BTC.   
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Crypto isn't listed as a payment option on the website but I guess this would be likely to change.

 
brun said:
Crypto isn't listed as a payment option on the website but I guess this would be likely to change.
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I think they'll have it up in the near future.  Theres certainly risk, but accepting BTC seems like a no brainer for some of these companies.  At this rate you buy a $50k car for 1.1 btc, and 3 months later the 1.1 btc is worth $65k. 

 
6+ hours after Tesla announces a $1.5B BTC purchase for their treasury and there have been but 5 posts by 3 authors (not including this one).

...and while it’s certainly progressive thinking on Tesla’s part to offer to accept BTC as payment...BTC doesn’t go down in value the moment you drive it off the lot.

 
Decided to tip my toes in bitcoin over the weekend. Love that it never sleeps. Also doesn't hurt that it is rising...for now.

 
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Took me a two weeks to get there but I own my first whole Coin.

bought and sold over the past 2 years but never tried to accumulate.  Wall Street adoption is a story that’s talked about but not nearly enough.  It’s time to make sure you own some BTC.  
 

 
city of Miami just announced they are going to be the first BTC city.

employees paid in BTC

bills paid in BTC

taxes/tickets revived in BTC

etc 

this is a MAJOR milestone IMHO

 
#Fakenews..... sort of

they voted to explore BTC adoption.  They were supposed to vote on actual adoption but there are legal issues with state of Florida in assets that a local municipal can hold.

Guess they wouldn’t want the mayor of Detroit put all cash into Ford stock sort of thing..... makes sense

 
Can anyone explain to me how the creation of Bitcoin is any more credible or realistic than the origin story of the “golden tablets” of Mormonism?   
 

Note:  this is both a highly ignorant and completely serious question

 
Alex P Keaton said:
Can anyone explain to me how the creation of Bitcoin is any more credible or realistic than the origin story of the “golden tablets” of Mormonism?   
 

Note:  this is both a highly ignorant and completely serious question
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If you can explain to me why the Fed can just keep adding zeros to the end of the big bank accounts without actually printing the paper money which, spoiler alert, is not tied to that wonderful and useful physical store of value, gold?

That seems less credible than a technical solution that can be explained and is transparent. 

 
ConstruxBoy said:
If you can explain to me why the Fed can just keep adding zeros to the end of the big bank accounts without actually printing the paper money which, spoiler alert, is not tied to that wonderful and useful physical store of value, gold?

That seems less credible than a technical solution that can be explained and is transparent. 
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I’m not disagreeing with you.  But I am asking a real question.  This group in here seems highly knowledgeable, and I’m trying to understand how this is real.

 
beer 30 said:
I'd like to buy Dogecoin. I have limited avenues and very, very low levels of investment in crypto (Paypal and Coinbase). Is there a way to take some of that and turn it into Dogecoin without having to sign up for a new wallet from Dogecoin and new house to facilitate a transaction (I don't want to do this https://dogecoin.com/getting-started/#windows-desktop-os). 
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At the moment, I believe robinhood is the easiest place to buy doge.  I know that wasn't what you were looking for.

 
hooter311 said:
At the moment, I believe robinhood is the easiest place to buy doge.  I know that wasn't what you were looking for.
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No, it's cool. I'd like very much for the two places I currently reside with crypto to be able to trade Doge but I get it. Coinbase entertains seemingly 100's of crypto but they aren't affiliated with Doge. Thanks

 
beer 30 said:
No, it's cool. I'd like very much for the two places I currently reside with crypto to be able to trade Doge but I get it. Coinbase entertains seemingly 100's of crypto but they aren't affiliated with Doge. Thanks
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It's because doge is the definition of a #### coin.

Not saying that there isn't opportunity with it to make money.  But even the guy that created it didnt have much faith in it.

https://cointelegraph.com/news/founder-of-8-4b-dogecoin-sold-everything-in-2015-for-a-used-honda-civic

 
beer 30 said:
I'd like to buy Dogecoin. I have limited avenues and very, very low levels of investment in crypto (Paypal and Coinbase). Is there a way to take some of that and turn it into Dogecoin without having to sign up for a new wallet from Dogecoin and new house to facilitate a transaction (I don't want to do this https://dogecoin.com/getting-started/#windows-desktop-os). 
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Doge is literally a joke.  I'm sure you can make money, but their are true Alt coins out there worth investing in.  

I've rolled nearly all my money from my robinhood account to coinbase in the past few weeks.  Stocks were too much for me to keep up with.  Alts have their own risk, and maybe we're in a Goldenage and just don't know it yet, but literally everything is taking off in the alt coin market.  

GRT - up 844% in a month.  

SNX - up 100% in a month.  Bought this one thanks to @TheDirtyWord

KNC - up 140 in a month.  

Every 2 weeks or so I rebalance the book.  Converting one coin to another is free.  Say one gains $500.  I send $250 to BTC and the other $250 to another coin that under performing.   

 
Alex P Keaton said:
I’m not disagreeing with you.  But I am asking a real question.  This group in here seems highly knowledgeable, and I’m trying to understand how this is real.
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I see Beer 30 already pointed out some resources. 

I was taking about it to my friends several weeks ago and all I did was confuse them when I tried to explain it at a pretty high technical level. I understand it enough to feel comfortable investing as a Speculative Hedge, but I'm not technical enough to explain it in simple terms. 

 
jb1020 said:
Doge is literally a joke.  I'm sure you can make money, but their are true Alt coins out there worth investing in.  

I've rolled nearly all my money from my robinhood account to coinbase in the past few weeks.  Stocks were too much for me to keep up with.  Alts have their own risk, and maybe we're in a Goldenage and just don't know it yet, but literally everything is taking off in the alt coin market.  

GRT - up 844% in a month.  

SNX - up 100% in a month.  Bought this one thanks to @TheDirtyWord

KNC - up 140 in a month.  

Every 2 weeks or so I rebalance the book.  Converting one coin to another is free.  Say one gains $500.  I send $250 to BTC and the other $250 to another coin that under performing.   
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I'm keeping a HODL proportion of Crypto as:

80% BTC

10% LINK

8% ETH - Not as big of a believer as most

2% LTC

 
jb1020 said:
Doge is literally a joke.  I'm sure you can make money, but their are true Alt coins out there worth investing in.  

I've rolled nearly all my money from my robinhood account to coinbase in the past few weeks.  Stocks were too much for me to keep up with.  Alts have their own risk, and maybe we're in a Goldenage and just don't know it yet, but literally everything is taking off in the alt coin market.  

GRT - up 844% in a month.  

SNX - up 100% in a month.  Bought this one thanks to @TheDirtyWord

KNC - up 140 in a month.  

Every 2 weeks or so I rebalance the book.  Converting one coin to another is free.  Say one gains $500.  I send $250 to BTC and the other $250 to another coin that under performing.   
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might this get expensive regarding capital gains taxes?

 
jb1020 said:
Doge is literally a joke.  I'm sure you can make money, but their are true Alt coins out there worth investing in.  

I've rolled nearly all my money from my robinhood account to coinbase in the past few weeks.  Stocks were too much for me to keep up with.  Alts have their own risk, and maybe we're in a Goldenage and just don't know it yet, but literally everything is taking off in the alt coin market.  

GRT - up 844% in a month.  

SNX - up 100% in a month.  Bought this one thanks to @TheDirtyWord

KNC - up 140 in a month.  

Every 2 weeks or so I rebalance the book.  Converting one coin to another is free.  Say one gains $500.  I send $250 to BTC and the other $250 to another coin that under performing.   
Click to expand...


ConstruxBoy said:
I'm keeping a HODL proportion of Crypto as:

80% BTC

10% LINK

8% ETH - Not as big of a believer as most

2% LTC
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Good stuff guys and thanks for talking me off the $5 ledge I was looking to dump into Doge  :lmao:

Heading to Coinbase now to diversify a little based on above postings  :thumbup:

 
ConstruxBoy said:
I'm keeping a HODL proportion of Crypto as:

80% BTC

10% LINK

8% ETH - Not as big of a believer as most

2% LTC
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I have a similar spread.  Probably a bit more BTC.   My hope on Eth has faded a little, but there are still some people speculating its the real deal and an ETH coin could hit 6 figures in 18-24 months.  So I'm certainly not dumping it either.  

LINK, LTC and SNX are the other I'm just Hodling for now.  

The rest are trading chips.  Just have to resist the urge to trade them too often!  

 
ConstruxBoy said:
I'm keeping a HODL proportion of Crypto as:

80% BTC

10% LINK

8% ETH - Not as big of a believer as most

2% LTC
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I like link.  It bothers me that like 150 wallets control like 85% of the supply though.

If EIP-1559 gets implemented this summer, ethereum could moon.  Eip-1559 is the most interesting crypto idea since bitcoin dropped.

 
jb1020 said:
I have a similar spread.  Probably a bit more BTC.   My hope on Eth has faded a little, but there are still some people speculating its the real deal and an ETH coin could hit 6 figures in 18-24 months.  So I'm certainly not dumping it either.  

LINK, LTC and SNX are the other I'm just Hodling for now.  

The rest are trading chips.  Just have to resist the urge to trade them too often!  
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I read an article about LINK solving the "oracle problem" and that really made a lot of sense to me as something very valuable. 

 
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