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

Just thought I'd add -

You can use an exchange like Coinbase, personally I favor Uphold. Usually you can add funds via a cc or bank ach.

You can also get exposure thru an etf with your existing broker.

Then there are opportunities to buy related stocks like Strategy.

If you prefer tax free growth, you might consider an exchange that offers a Roth. I have a Roth with iTrust Capital. There a others.
 
urbanhack said:
Desert_Power said:
urbanhack said:
Besides the fee, you are also getting gamed on a spread. BTC is $120,000. I just went to sell some and the selling price is $119,000 or less. If want to buy, I have to buy it at $121,000. F them.
Click to expand...
How do you buy yours?
Click to expand...
I haven’t bought anything in a long time. Moved everything I had into Coinbase and selling most of it off during this run.
Click to expand...

I do hourly purchases on Strike. You can transfer to cold storage, but understand why people would use Coinbase.
 
Has anyone done any bitcoin backed loans? Just started looking into this. Visited a handful of sites. Coinbase seems the most straightforward so far. Saw a couple where the interest rate gets more favorable if you own loyalty tokens but I'm not sure I care for that.
 
Checking in. Where are we at? BTC just hit another all time high.

I'm no expert here, but I lived thru the last cycle. Thought I knew what I was doing and got caught up in the FTX/Blockfi debacle. I feel fairly fortunate to have anything left.

I've paid so much less attention to crypto this past cycle. My portfolio is considerably smaller than last go around.

My question...are any of you getting out right now? I follow this guy on X, Blockchain Backer. I don't subscribe to him, but I watch his videos from time to time. Nov 2021, he nailed it. He made a video saying the crash was coming and he was out. It happened with the week, if I recall.

This weekend he just put out a video saying he was going to 50% cash in his portfolio. I feel like 2021 me would be screaming to follow this guys lead again.

Anyone else going this route? I'm gonna sleep on it, but I'm leaning towards this move. I still remember BTC hitting $60k and thinking how awesome it was, only to see it go back to less than $20k within a month.
 
The halving cycle suggests that the we would see a high point in this last quarter of 2025 and then have a significant drawdown in 2026.
With that in mind I was planning on selling in chunks starting around Halloween.
I haven't committed yet. I might just do a portion or I might wait another month or 2.
Part of my hesitation it because all the institutional, government etc. stockpiling might smooth out the ups and downs. I hate to trigger tax events for price movements that are no longer significant.
So a year ago I was confident in my plan. Now, not so much.
 
brun said:
The halving cycle suggests that the we would see a high point in this last quarter of 2025 and then have a significant drawdown in 2026.
With that in mind I was planning on selling in chunks starting around Halloween.
I haven't committed yet. I might just do a portion or I might wait another month or 2.
Part of my hesitation it because all the institutional, government etc. stockpiling might smooth out the ups and downs. I hate to trigger tax events for price movements that are no longer significant.
So a year ago I was confident in my plan. Now, not so much.
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If you still believe in a 4 year cycle, your timeline is correct, but I don't think it's clear that we're in that same structure. We probably won't know either until things play out. I think it's safe to say we're going to continue to see drawdowns of 30% and most of the time the price action seems to be within a range, but it's hard for me to think that institutional investing/ETF's may have changed the 4 year cycle structure and the asset may become less volatile over time.

I think, short-term, whether that's 3 months or another year, this is prime time for Bitcoin. Money printer is on, rates are being cut now. We should see higher prices for Bitcoin.
 
Had you put $1000 into BitCoin when this thread started, you'd have over $160K today. :mellow: 160x return over 9 years is good, right?

:wall:

I'm always too late to the party.
 
Jayrod said:
Had you put $1000 into BitCoin when this thread started, you'd have over $160K today. :mellow: 160x return over 9 years is good, right?

:wall:

I'm always too late to the party.
Click to expand...

If you think the price of 1 BTC will be $300K in the next 3-4 years, that's a great return. It's not too early if you believe in the value of the asset.
 
I'm assuming it's just time to sell off all the original trendy coins from 5 to 10 years ago...they aren't coming back, right?

Algo
Avalanche
Polkadot
Polygon
Uniswap
IOTA
etc.

Thinking about cashing in the rest of my bitcoin and all these now **** coins, probably make a few grand and call it a day. There is absolutely no way for anyone to track the tax gains on any of these coins as I've moved them over different exchanges throughout the years and also converted them.
 
urbanhack said:
I'm assuming it's just time to sell off all the original trendy coins from 5 to 10 years ago...they aren't coming back, right?

Algo
Avalanche
Polkadot
Polygon
Uniswap
IOTA
etc.

Thinking about cashing in the rest of my bitcoin and all these now **** coins, probably make a few grand and call it a day. There is absolutely no way for anyone to track the tax gains on any of these coins as I've moved them over different exchanges throughout the years and also converted them.
Click to expand...

I keep things simple and avoid the rest. Bitcoin maxi.
 
Sand said:
15 Billion dollar bitcoin scam busted. The picture in there of the scam farm is wild. Pretty awful that folks are getting taken like this.

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The article said this was pig butchering. I was renting a room from a guy who was on track to get butchered. He would tell me about this beautiful young Chinese girl who was teaching him about crypto. I told him it was a scam but the glands have a mind of their own.

That's a wild picture. I'm assuming the workers would move up and down the aisle while communicating with various pigs on each phone. The article said they had 76,000 social media accounts. Lol. Half of the internet is bots and bogus accounts.
 
Jayrod said:
Had you put $1000 into BitCoin when this thread started, you'd have over $160K today. :mellow: 160x return over 9 years is good, right?

:wall:

I'm always too late to the party.
Click to expand...
You would be at 180x with Palantir or 1800x with Nvadia.

I still don't understand why BTC basically has become slightly leverage tech fund.
 
I have a rescue shiba inu pup that is having an expensive orthopedic surgery tomorrow. Cost of the surgery is $12000. The guy who brought Indy to me (goes by ballsdeepindoge on twitter)said he would try to help raise funds. He had me open a atdoge wallet. So now there is 56000.28 doge coins in my wallet. Says its worth $10503. I've already paid for the surgery .

What is dodge coin? Is it easy to convert to dollars and why is it worth anything at all. Where is the value placed? Should I cash or hold?
 
rustycolts said:
I have a rescue shiba inu pup that is having an expensive orthopedic surgery tomorrow. Cost of the surgery is $12000. The guy who brought Indy to me (goes by ballsdeepindoge on twitter)said he would try to help raise funds. He had me open a atdoge wallet. So now there is 56000.28 doge coins in my wallet. Says its worth $10503. I've already paid for the surgery .

What is dodge coin? Is it easy to convert to dollars and why is it worth anything at all. Where is the value placed? Should I cash or hold?
Click to expand...
DOGE is considered the first meme coin. At one point Elon Musk championed it and accepted it as a payment option for Tesla. However, over the last few years, its value has drifted lower as thousands of other meme coin options have diluted the phenomenon and overall interest in alt coins (non-Bitcoin cryptocurrency) has waned.

It's worth anything at all because "the market" has determined it's worth something. It doesn't have a specialized use case and there's nothing separating it from other cryptocurrency beyond a large community.

What kind of wallet did your friend have you create? A lot of Ethereum-based wallets (Ethereum is the main blockchain that DOGE is housed) allow you to swap DOGE for USDT stablecoins. To actually get the cash, you'd need to transfer to a crypto exchange that would allow you to convert to USD and then withdraw to your bank.

Should you cash or hold? That's a question only you can answer. If you need the money, then cash out. That $10K could very easily be $5K in a couple weeks. It could also be $20K so it really depends on if you need the money or are you up for a gamble. No one can accurately tell you where the price is headed in the short term.
 
Captain Cranks said:
rustycolts said:
I have a rescue shiba inu pup that is having an expensive orthopedic surgery tomorrow. Cost of the surgery is $12000. The guy who brought Indy to me (goes by ballsdeepindoge on twitter)said he would try to help raise funds. He had me open a atdoge wallet. So now there is 56000.28 doge coins in my wallet. Says its worth $10503. I've already paid for the surgery .

What is dodge coin? Is it easy to convert to dollars and why is it worth anything at all. Where is the value placed? Should I cash or hold?
Click to expand...
DOGE is considered the first meme coin. At one point Elon Musk championed it and accepted it as a payment option for Tesla. However, over the last few years, its value has drifted lower as thousands of other meme coin options have diluted the phenomenon and overall interest in alt coins (non-Bitcoin cryptocurrency) has waned.

It's worth anything at all because "the market" has determined it's worth something. It doesn't have a specialized use case and there's nothing separating it from other cryptocurrency beyond a large community.

What kind of wallet did your friend have you create? A lot of Ethereum-based wallets (Ethereum is the main blockchain that DOGE is housed) allow you to swap DOGE for USDT stablecoins. To actually get the cash, you'd need to transfer to a crypto exchange that would allow you to convert to USD and then withdraw to your bank.

Should you cash or hold? That's a question only you can answer. If you need the money, then cash out. That $10K could very easily be $5K in a couple weeks. It could also be $20K so it really depends on if you need the money or are you up for a gamble. No one can accurately tell you where the price is headed in the short term.
Click to expand...
This is what he had me download
www.mydoge.com

MyDoge

Send, receive and Buy Dogecoin through the MyDoge app, Shop for Gift cards and earn cash back
www.mydoge.com www.mydoge.com
Well I'm not sure what to do. I only know its one of the nicest things anyone has ever done for me. Even if it turns out to be Monopoly money it was the thought that counts. He obviously thinks there is value in it he told me that I should hold,but there are several ways to convert just to contact him and he would advise me.
 
Captain Cranks said:
rustycolts said:
I have a rescue shiba inu pup that is having an expensive orthopedic surgery tomorrow. Cost of the surgery is $12000. The guy who brought Indy to me (goes by ballsdeepindoge on twitter)said he would try to help raise funds. He had me open a atdoge wallet. So now there is 56000.28 doge coins in my wallet. Says its worth $10503. I've already paid for the surgery .

What is dodge coin? Is it easy to convert to dollars and why is it worth anything at all. Where is the value placed? Should I cash or hold?
Click to expand...
DOGE is considered the first meme coin. At one point Elon Musk championed it and accepted it as a payment option for Tesla. However, over the last few years, its value has drifted lower as thousands of other meme coin options have diluted the phenomenon and overall interest in alt coins (non-Bitcoin cryptocurrency) has waned.

It's worth anything at all because "the market" has determined it's worth something. It doesn't have a specialized use case and there's nothing separating it from other cryptocurrency beyond a large community.

What kind of wallet did your friend have you create? A lot of Ethereum-based wallets (Ethereum is the main blockchain that DOGE is housed) allow you to swap DOGE for USDT stablecoins. To actually get the cash, you'd need to transfer to a crypto exchange that would allow you to convert to USD and then withdraw to your bank.

Should you cash or hold? That's a question only you can answer. If you need the money, then cash out. That $10K could very easily be $5K in a couple weeks. It could also be $20K so it really depends on if you need the money or are you up for a gamble. No one can accurately tell you where the price is headed in the short term.
Click to expand...
Hey buddy how have you been? I appreciate the response. Say hi to the guys over at discord for me. I have no clue on any of this crypto stuff Seems pie in the sky to me. I'll try to figure out how to convert it next week. Anyway good to hear from you.
 
rustycolts said:
Captain Cranks said:
rustycolts said:
I have a rescue shiba inu pup that is having an expensive orthopedic surgery tomorrow. Cost of the surgery is $12000. The guy who brought Indy to me (goes by ballsdeepindoge on twitter)said he would try to help raise funds. He had me open a atdoge wallet. So now there is 56000.28 doge coins in my wallet. Says its worth $10503. I've already paid for the surgery .

What is dodge coin? Is it easy to convert to dollars and why is it worth anything at all. Where is the value placed? Should I cash or hold?
Click to expand...
DOGE is considered the first meme coin. At one point Elon Musk championed it and accepted it as a payment option for Tesla. However, over the last few years, its value has drifted lower as thousands of other meme coin options have diluted the phenomenon and overall interest in alt coins (non-Bitcoin cryptocurrency) has waned.

It's worth anything at all because "the market" has determined it's worth something. It doesn't have a specialized use case and there's nothing separating it from other cryptocurrency beyond a large community.

What kind of wallet did your friend have you create? A lot of Ethereum-based wallets (Ethereum is the main blockchain that DOGE is housed) allow you to swap DOGE for USDT stablecoins. To actually get the cash, you'd need to transfer to a crypto exchange that would allow you to convert to USD and then withdraw to your bank.

Should you cash or hold? That's a question only you can answer. If you need the money, then cash out. That $10K could very easily be $5K in a couple weeks. It could also be $20K so it really depends on if you need the money or are you up for a gamble. No one can accurately tell you where the price is headed in the short term.
Click to expand...
This is what he had me download
www.mydoge.com

MyDoge

Send, receive and Buy Dogecoin through the MyDoge app, Shop for Gift cards and earn cash back
www.mydoge.com www.mydoge.com
Well I'm not sure what to do. I only know its one of the nicest things anyone has ever done for me. Even if it turns out to be Monopoly money it was the thought that counts. He obviously thinks there is value in it he told me that I should hold,but there are several ways to convert just to contact him and he would advise me.
Click to expand...
Hmmm. I'm not familiar with that wallet. It does look like it offers an easy conversion to gift cards. You may want to try that for a small amount to see if everything works properly.

Everything's good with me/us. We miss you over there but totally understand. My appetite for political talk has dropped significantly lately. Much better things to use my time on that don't cause a bunch of stress.
 
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