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Bitcoin-Explain to me how to buy these things (5 Viewers)

Captain Cranks said:
I want to tell everyone I know that they should try to hold 1 BTC because when the US finally gets their regulatory house in order, it'll be too late.  I do tell some, but I try not to be 'that guy' with most.  There are still so many people out there who have no idea what Bitcoin even is.  
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Why Bitcoin?  It's transaction costs are so high and highly inefficient.  Bitcoin is not friendly for use.

 
I think im the only one that sacrificed for pulsechain.  but if you are following, Looks like about 1.5 months to launch.  testnet2 is live.

 
PinkydaPimp said:
Was a glitch.  Thought for a second i could quit my job :shrug:  
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Quit your job? ETH was momentarily worth more than the entire planet and a few of the biggest alien economies across all galaxies. I’d be thinking about building out the Federation and going where no man has gone before but with a fleet of 100.

 
Orange&Blue said:
Why Bitcoin?  It's transaction costs are so high and highly inefficient.  Bitcoin is not friendly for use.
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It's the new gold - it's seen as a store of value.  If I were to guess about this whole world we'll see BTC become the new gold and another system or two (of which ETH is certainly one) become the new money.

 
Sand said:
It's the new gold - it's seen as a store of value.  If I were to guess about this whole world we'll see BTC become the new gold and another system or two (of which ETH is certainly one) become the new money.
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i see this stated a lot, and i don't see many people challenging this idea.

what's to stop a mass exodus to a different coin one day?

especially once some of the newer systems (which are much better) have started to scale up?

also, doesn't one asset becoming a "store of value" kind of run counter to the whole idea of decentralizing currency?  especially if a majority of bitcoin ends up being owned by "institutional" money?

(btw, you and others may be completely correct on the "store of value" concept.  i may just not be understanding it correctly.)

 
amnesiac said:
i see this stated a lot, and i don't see many people challenging this idea.

what's to stop a mass exodus to a different coin one day?

especially once some of the newer systems (which are much better) have started to scale up?

also, doesn't one asset becoming a "store of value" kind of run counter to the whole idea of decentralizing currency?  especially if a majority of bitcoin ends up being owned by "institutional" money?

(btw, you and others may be completely correct on the "store of value" concept.  i may just not be understanding it correctly.)
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What's being built as we speak is trust and reliance in a digital asset network to store monetary value.  Given its value, that network needs to be secure and reliable. Bitcoin is the gold standard in this regard.  As time goes on, more and more institutions and sovereigns are buying into the concept that Bitcoin is THE store of value network.  The larger it becomes, the less likely it would be to be dethroned.  Think about why people haven't transitioned away from gold as the store of value king of precious metals.  There are other precious metals that could serve that role, but gold is the pinnacle because society has adopted it as such.  

Michael Saylor explains it a lot better than I ever could.

 
Captain Cranks said:
What's being built as we speak is trust and reliance in a digital asset network to store monetary value.  Given its value, that network needs to be secure and reliable. Bitcoin is the gold standard in this regard.  As time goes on, more and more institutions and sovereigns are buying into the concept that Bitcoin is THE store of value network.  The larger it becomes, the less likely it would be to be dethroned.  Think about why people haven't transitioned away from gold as the store of value king of precious metals.  There are other precious metals that could serve that role, but gold is the pinnacle because society has adopted it as such.  

Michael Saylor explains it a lot better than I ever could.
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so basically, it's human nature to attribute value to something, in this case, bitcoin just has such a head start, people will continue to be attracted to it.

so humans are illogical, and will continue to be so.  

pretty decent argument.  

 
amnesiac said:
so basically, it's human nature to attribute value to something, in this case, bitcoin just has such a head start, people will continue to be attracted to it.

so humans are illogical, and will continue to be so.  

pretty decent argument.  
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Ehhh, it goes a little deeper than that as MS explains.  If it was a #### product then we should concerned that its first mover network advantage is no better than Netscape's.  However, it's the most secure, long standing, and stable network.  Will there be better store of value technologies down the road?  Yes.  But it'll likely be too late to matter.  

Also, I don't think it's human nature to attribute value to something.  There needs to be a reason and agreement on what that value is.  

 
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Captain Cranks said:
Ehhh, it goes a little deeper than that as MS explains.  If it was a #### product then we should concerned that its first mover network advantage is no better than Netscape's.  However, it's the most secure, long standing, and stable network.  Will there be better store of value technologies down the road?  Yes.  But it'll likely be too late to matter.  

Also, I don't think it's human nature to attribute value to something.  There needs to be a reason and agreement on what that value is.  
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other than being shiny, and a pretty good conductor, gold is essentially worthless.

 
amnesiac said:
so basically, it's human nature to attribute value to something, in this case, bitcoin just has such a head start, people will continue to be attracted to it.

so humans are illogical, and will continue to be so.  

pretty decent argument.  
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FTR, I had the same questions about BTC that you've cited here.  You can probably go back in this thread and see me voice them in the same way.  Listening to Michael Saylor interviews has caused the lightbulb to go off.    

 
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Captain Cranks said:
FTR, I had the same questions about BTC that you've cited here.  You can probably got back in this thread and see me voice them in the same way.  Listening to Michael Saylor interviews has caused the lightbulb to go off.    
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i will check out the link you provided.  thank you.

 
Nathan R. Jessep said:
For those of you that have coins on different exchanges, cold storage, etc., is there a particular app/website you use to inventory your assets? 
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Excel.  Mine are split into exchanges, savings (Celsius, Blockfi, etc.), wallets, and defi.

 
amnesiac said:
i see this stated a lot, and i don't see many people challenging this idea.

what's to stop a mass exodus to a different coin one day?

especially once some of the newer systems (which are much better) have started to scale up?

also, doesn't one asset becoming a "store of value" kind of run counter to the whole idea of decentralizing currency?  especially if a majority of bitcoin ends up being owned by "institutional" money?

(btw, you and others may be completely correct on the "store of value" concept.  i may just not be understanding it correctly.)
Click to expand...


Captain Cranks said:
What's being built as we speak is trust and reliance in a digital asset network to store monetary value.  Given its value, that network needs to be secure and reliable. Bitcoin is the gold standard in this regard.  As time goes on, more and more institutions and sovereigns are buying into the concept that Bitcoin is THE store of value network.  The larger it becomes, the less likely it would be to be dethroned.  Think about why people haven't transitioned away from gold as the store of value king of precious metals.  There are other precious metals that could serve that role, but gold is the pinnacle because society has adopted it as such.  

Michael Saylor explains it a lot better than I ever could.
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That's a great answer to this.

One thing that has become apparent over the last couple years is that gold is no longer seen as THE store of value.  It was for 5,000 years, but seems to have waned.  Not going into the reasoning, but you can see in charts that gold has lost that position (it has gone nowhere with the onset of inflation here, for one).  BTW, I'll also say that silver and copper could be stores of value, but they, right now, are very much industrial metals; they occupy that space and will never be a true store of value.  Their utility lies laregly outside the monetary regime.

Bitcoin does seem to be it.  It seems to be attractive because we live in a world where having a weak currency is largely an advantage for nations.  A store of value that is independent of political whims is a huge draw and it seems that bitcoin has captured that spot.  Now it may end up that ETH is "it" in the balance (I have no idea - but seems possible). From a store of value perspective I'd be (and am) splitting monies between those two.

I will watch Saylor tonight - thanks for the link!

 
amnesiac said:
other than being shiny, and a pretty good conductor, gold is essentially worthless.
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And, right now, can you name what market forces control gold?  That's the thing about gold that has always stumped me - from a macro point of view the forces that drive it are a complete mystery.

 
Sand said:
And, right now, can you name what market forces control gold?  That's the thing about gold that has always stumped me - from a macro point of view the forces that drive it are a complete mystery.
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i’m just here to learn. 
 

when I first got into this I was trying to find the next bitcoin. 
 

but you guys are making an argument that bitcoin will always be bitcoin and it still has room to grow.  
 

i may actually buy some. 

 
As part of my year-end, I want to sell some of my cryptos and only keep ones that I truly see a future in.  Below are the different ones I own.  What should I keep and what should I dump?

Bitcoin

Ethereum

Bitcoin Cash

Litecoin

Solana

Cardano

Polkadot

Polygon Matic

Dogecoin :bag:

Any feedback is appreciated.

 
eoMMan said:
As part of my year-end, I want to sell some of my cryptos and only keep ones that I truly see a future in.  Below are the different ones I own.  What should I keep and what should I dump?

Bitcoin

Ethereum

Bitcoin Cash

Litecoin

Solana

Cardano

Polkadot

Polygon Matic

Dogecoin :bag:

Any feedback is appreciated.
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I kinda like what you have  :wub:

 
eoMMan said:
As part of my year-end, I want to sell some of my cryptos and only keep ones that I truly see a future in.  Below are the different ones I own.  What should I keep and what should I dump?

Bitcoin

Ethereum

Bitcoin Cash

Litecoin

Solana

Cardano

Polkadot

Polygon Matic

Dogecoin :bag:

Any feedback is appreciated.
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Take that bag off your head. Doge is the best of them all!

 
eoMMan said:
As part of my year-end, I want to sell some of my cryptos and only keep ones that I truly see a future in.  Below are the different ones I own.  What should I keep and what should I dump?

Bitcoin

Ethereum

Bitcoin Cash

Litecoin

Solana

Cardano

Polkadot

Polygon Matic

Dogecoin :bag:

Any feedback is appreciated.
Click to expand...


Personally I would dump Bitcoin Cash, Doge (don't hate me!), and either dump or limit Cardano.

Add AVAX and maybe some CRO/GALA in their place.

Disclaimer:  I am just a ####### with a keyboard and am still fairly new at this myself.

 
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amnesiac said:
i’m just here to learn. 
 

when I first got into this I was trying to find the next bitcoin. 
 

but you guys are making an argument that bitcoin will always be bitcoin and it still has room to grow.  
 

i may actually buy some. 
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I wasn't arguing with you, BTW - more just adding to what you said.  I personally have never invested in gold as I find it to be the most opaque when it comes to what drives it, what influences it.  I'm still clueless on it, so leave it alone.

Then again, over the last few years I didn't invest in TSLA as I was clueless as to what the future was there.

So, I guess .500 isn't bad?

 
Sand said:
It's the new gold - it's seen as a store of value.  If I were to guess about this whole world we'll see BTC become the new gold and another system or two (of which ETH is certainly one) become the new money.
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Exactly. 

Just like in the physical world, people invest in gold, but transact in dollars. In the digital realm people may invest in BTC but transact in ETH.

Much like we have different global currencies, we will likely end up with multiple digital transactional currencies as well. Some countries may bless one digital currency, or create their own.

However, given the global/decentralized nature of digital currency, coupled with modern humanity's tendency to gravitate to fairly universal stores of value... I think we're more likely to have one primary investment currency... with more variance in transactional currencies. 

 
eoMMan said:
As part of my year-end, I want to sell some of my cryptos and only keep ones that I truly see a future in.  Below are the different ones I own.  What should I keep and what should I dump?

Bitcoin

Ethereum

Bitcoin Cash

Litecoin

Solana

Cardano

Polkadot

Polygon Matic

Dogecoin :bag:

Any feedback is appreciated.
Click to expand...
Bitcoin Cash, Litecoin, Doge.

I would suggest some gaming/metaverse exposure.  ENJ, SAND, WILD. PYR

 
Captain Cranks said:
$WILD is crushing it.  I personally think this is a better play than MANA and SAND given its market cap.  I'm not suggesting anyone FOMO in now because it's already pumped, but keep it on your radar for when money exits the metaverse plays and prices settle down a bit. 
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Looks like this one came in quite a bit from its high. Good entry point you think?

 
McBokonon said:
Looks like this one came in quite a bit from its high. Good entry point you think?
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Not a bad time to scale in although I'm waiting for another market flush to reload.  I personally have a buy target around $2.85 but I have a lot of exposure from holding their NFTs, so I'm willing to be more patient.

 
So... Regaring BTC, we've had a nice little 30% correction. Would we agree we've got some support around 40-42? Or should the support line be considered higher? 

Worth easing back in a bit here or still feeling like we're going to test that support line? Maybe DCA downward? 

 
[icon] said:
So... Regaring BTC, we've had a nice little 30% correction. Would we agree we've got some support around 40-42? Or should the support line be considered higher? 

Worth easing back in a bit here or still feeling like we're going to test that support line? Maybe DCA downward? 
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I think we get another dump to the area you mentioned which is when I'll push more chips into the market.  That said, market timing for long term positions is not normally a winning strategy (although I can't stop myself from trying). 

 
amnesiac said:
i will check out the link you provided.  thank you.
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It's worth pointing out that Michael Saylor has a very substantial vested interest in convincing people in the long term value since he is one of the largest holders and has had his company take out debt to buy it. Perhaps you will find his arguments persuasive, but you should know of his extreme self interest (and probably the history of his company during the tech bubble). 

It could very well be the case that BTC continues to rise in value with more and more people/institutions thinking of it as a store of value regardless.

No disrespect to CC, whom knows a lot more about this stuff than me, just thought it should be mentioned.

 
Desert_Power said:
It's worth pointing out that Michael Saylor has a very substantial vested interest in convincing people in the long term value since he is one of the largest holders and has had his company take out debt to buy it. Perhaps you will find his arguments persuasive, but you should know of his extreme self interest (and probably the history of his company during the tech bubble). 

It could very well be the case that BTC continues to rise in value with more and more people/institutions thinking of it as a store of value regardless.

No disrespect to CC, whom knows a lot more about this stuff than me, just thought it should be mentioned.
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i appreciate you pointing that out.

i had a strong suspicion after hearing him talk for 30 seconds.

i do take everything i see on youtube with a large grain of salt.  (except the Norm MacDonald videos.  i accept those as-is.)

 
amnesiac said:
i appreciate you pointing that out.

i had a strong suspicion after hearing him talk for 30 seconds.

i do take everything i see on youtube with a large grain of salt.  (except the Norm MacDonald videos.  i accept those as-is.)
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I had friends that worked at Microstrategy when he was guilty of fraud or whatever SEC type charge it was. Honestly, their blow up was one of the cogs in the dot com bubble bursting and lots of accounting fraud coming out around that time. Never heard any good things about him. I think he found BTC at the right time and made a smart investment but I wouldn’t trust he’s trying to do anything but pump it up.

 
Desert_Power said:
It's worth pointing out that Michael Saylor has a very substantial vested interest in convincing people in the long term value since he is one of the largest holders and has had his company take out debt to buy it. Perhaps you will find his arguments persuasive, but you should know of his extreme self interest (and probably the history of his company during the tech bubble). 

It could very well be the case that BTC continues to rise in value with more and more people/institutions thinking of it as a store of value regardless.

No disrespect to CC, whom knows a lot more about this stuff than me, just thought it should be mentioned.
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I have a vested interest too, albeit slightly less than his.  

 
stbugs said:
I had friends that worked at Microstrategy when he was guilty of fraud or whatever SEC type charge it was. Honestly, their blow up was one of the cogs in the dot com bubble bursting and lots of accounting fraud coming out around that time. Never heard any good things about him. I think he found BTC at the right time and made a smart investment but I wouldn’t trust he’s trying to do anything but pump it up.
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It wouldn't be wise to follow anyone's advice in a vacuum, especially when you know they have such large financial incentives in adoption of their opinion.  That said, find me a person in this space who's better at articulating what Bitcoin and cryptocurrency represent.  

 
FreeBaGeL said:
Personally I would dump Bitcoin Cash, Doge (don't hate me!), and either dump or limit Cardano.

Add AVAX and maybe some CRO/GALA in their place.

Disclaimer:  I am just a ####### with a keyboard and am still fairly new at this myself.
Click to expand...
Can you give me your reasoning for this?  

 
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