Bitcoin-Explain to me how to buy these things

[hooter311 2,949]

3 hours ago, ConstruxBoy said:

I still really like LINK. 

I like it in theory but 125 wallet addresses currently control 80% of LINK.  That has black swan written all over it.

[hooter311 2,949]

The next 60 days should finally bring about the "bitcoin supply crunch"

 

Microstrategy is about to release a bit that will be purchasing 1.06 billion in btc next week at a rate of 2k per second.

 

The sellers are drying up...

 

[cubd8 299]

5 minutes ago, hooter311 said:

The next 60 days should finally bring about the "bitcoin supply crunch"

 

Microstrategy is about to release a bit that will be purchasing 1.06 billion in btc next week at a rate of 2k per second.

 

The sellers are drying up...

 

What happens to the price the more corporations but bitcoin?

[hooter311 2,949]

10 minutes ago, cubd8 said:

What happens to the price the more corporations but bitcoin?

Supply/demand

 

These corporations aren't buying them to flip them in a month or two, they're buying them because they can't afford to be holding their treasuries entirely in cash.

Grayscale's trust alone buys double the btc that are mined each month.

 

[hooter311 2,949]

One of the new canadian bitcoin ETFs also just bought 6000 btc on Friday.

 

Massive volume next week, a ton of support at 48k and very little resistance. 

Buckle up buttercups!

 

 

 

[The Ref 4,372]

1 hour ago, hooter311 said:

The next 60 days should finally bring about the "bitcoin supply crunch"

 

Microstrategy is about to release a bit that will be purchasing 1.06 billion in btc next week at a rate of 2k per second.

 

The sellers are drying up...

 

Already here.  And it’s going to get worse over the next few weeks.

 

Wall Street being very quiet about doing any actual buying..... but it’s all everyone is talking about and the price has gone straight up.

all it’s going to take is one more Fortune 500 company to say they bought a half billion and its to the moon.  My bet is Oracle but MGM and Disney were both noticeable at the micro strategy conference.   If Mickey Mouse buys in its laser eyes to 100K time.

[The Ref 4,372]

Im Going to sound like a BTC Twitter troll I used to hate.  But these two facts have stuck with me the past few weeks.

There are 44 Million “millionaires” world wide.  There are 18.6M BTC in circulation (and as many as ~2M+ have been lost or otherwise discarded).  If/when this gets worldwide acceptance and everyone needs to own some BTC - remove central banks and governments and Wall Street companies AND us poor slobs and simply leave the 44M Millionaires...... there is only enough BTC for them to have .36 BTC.  Figure ~half of BTC will go to Wall Street, Governments and regular folks and that number quickly drops to .180
 

the average amount of BTC per person in the world is .0024 or $135 worth at $56K a coin and 7.7B people.

So I draw from the above the following.

even if you are 90% sure this whole thing is crazy and will turn tulip bulb any minute this thing as gone far enough that it’s time at a min to go get your families .0024.  If you a family of four dust off the wallet and go get $600 worth.

If you more of a believer then the average person and are ready to get your part of BTC you should at the minimum be running out to the market to get .2 at the minimum if not .4.  Anything above that is obviously better but that’s the baseline you should be shooting for.

the most bullish of cases calls for people to stop talking about owning a BTC in a few years because that will be unrealistic except For the uber rich.  The narrative will change to Satoshi.  So if it seems that running out and getting .2 BTC isn’t a big deal and that it’s not enough to make a difference it will when .2 BTC becomes 20M satoshi and you can buy a car with it, or less.  Or .0005 will get you plane tickets to Rome.  Or .000000005 gets you a steak dinner 

 

Edited February 21 by The Ref

[hooter311 2,949]

I think it's more like 4 million that have been "lost", but I agree 100%

[hooter311 2,949]

44 minutes ago, The Ref said:

Already here.  And it’s going to get worse over the next few weeks.

 

Wall Street being very quiet about doing any actual buying..... but it’s all everyone is talking about and the price has gone straight up.

all it’s going to take is one more Fortune 500 company to say they bought a half billion and its to the moon.  My bet is Oracle but MGM and Disney were both noticeable at the micro strategy conference.   If Mickey Mouse buys in its laser eyes to 100K time.

Microstrategy went over how to buy btc in small increments at a fast rate on the exchanges as to not draw attention to themselves and affect price.  

It will be like the Tesla situation and the coins will already be in their pocket before the public finds out.

[Nathan R. Jessep 5,811]

Man, this is hard to assess the risk, for me. I have some cash on hand I could put more into.  (I currently have <$1K BTC acquired). I don't know what to do here. Put 50% of it in? All of it? None of it? Ugh. Life is hard.  

[The Ref 4,372]

3 minutes ago, Nathan R. Jessep said:

Man, this is hard to assess the risk, for me. I have some cash on hand I could put more into.  (I currently have <$1K BTC acquired). I don't know what to do here. Put 50% of it in? All of it? None of it? Ugh. Life is hard.  

For reasons I state above if you are holding less than .2 coin I wouldn’t mess around with timing.  This thing runs away you will never own any.

.2 at “any cost”.  You want to play around with timing after that at least you got a min stake

[Nathan R. Jessep 5,811]

21 minutes ago, The Ref said:

For reasons I state above if you are holding less than .2 coin I wouldn’t mess around with timing.  This thing runs away you will never own any.

.2 at “any cost”.  You want to play around with timing after that at least you got a min stake

Well, I hear you, and am more on the side of buying in that not, BUT, and this is and has been the hesitancy with this since it's inception, along with all the other cryptocurrencies, it could literally disappear into nothing tomorrow. That is the risk. It just comes down to what you believe and if you are willing to stake a good chunk of your own assets on that belief. Idk. Just one man's semi-informed opinion. 

[TheDirtyWord 977]

On 2/20/2021 at 9:24 AM, Brunell4MVP said:

My brother is about to retire from this stuff.  He's gone from $30K in the game four years ago to a few million.  Happy for him.  He told us.   I bought in a couple of years ago, but only enough to be in the game.  A BTC, a bunch of ETH and a good bit of LINK.  One would think it's been nice to watch it quintuple, but all I have is regret for not putting a lot more in.   Meanwhile what I put in IBM and MSFT have really taken off  😠

What I would tell you is those chances still exist in this space.  Yes, BTC’s days as a 4-digit asset are done,  but there are other opportunities.

To the extent you still talk crypto with him...he may have some ideas on what he’d invest in today; which projects he likes.  If he’s been in that long, I wouldn’t be surprised if his familiarity with the space was elite.

[TheDirtyWord 977]

3 hours ago, Nathan R. Jessep said:

Well, I hear you, and am more on the side of buying in that not, BUT, and this is and has been the hesitancy with this since it's inception, along with all the other cryptocurrencies, it could literally disappear into nothing tomorrow. That is the risk. It just comes down to what you believe and if you are willing to stake a good chunk of your own assets on that belief. Idk. Just one man's semi-informed opinion. 

If you’ve ever heard of the Lindy Effect...

The Lindy effect is a theory that the future life expectancy of some non-perishable things like a technology or an idea is proportional to their current age, so that every additional period of survival implies a longer remaining life expectancy. Where the Lindy effect applies, mortality rate decreases with time.

There’s a lot of FUD about crypto...but this has been true throughout history related to game changing innovation.  John Rockefeller tried to thwart the adoption of electricity as it threatened demand for oil.  But the longer it survives, the less chance it dies.  It’s network effect feels a bit irreversible.

[CGRdrJoe 4,106]

ETH wait

[CGRdrJoe 4,106]

Bitcoin wait

[PinkydaPimp 2,194]

Good time to buy and dca.  Especially those waiting to get in or thinking they were too late

[jb1020 1,549]

This will be a short lived dip.  Buy BTC, Eth and LIte is you can today.  

[The Ref 4,372]

10 hours ago, jb1020 said:

This will be a short lived dip.  Buy BTC, Eth and LIte is you can today.  

That quick crash to 48K this morning is going to end up being an epic good entering point.

Edited February 23 by The Ref

[The Ref 4,372]

13 hours ago, The Ref said:

That quick crash to 48K this morning is going to end up being an epic good entering point.

Hope i was right x2

[psychobillies 1,525]

Got some more at 47ish this morning.  Is anyone here concerned about the potential ban of BTC ownership in India?  Are other governments going to follow their lead?  How will it impact crypto going forward?

[CR69 1,503]

16 minutes ago, psychobillies said:

Got some more at 47ish this morning.  Is anyone here concerned about the potential ban of BTC ownership in India?  Are other governments going to follow their lead?  How will it impact crypto going forward?

Bitcoin has dropped so many times in the last 10 years because "China banned it" that it became a joke in the crypto community. It's all noise imo. 

[[icon] 10,049]

Added GBTC at 45.88

[CGRdrJoe 4,106]

Ugh

[KGB 457]

Purchased $4K worth of BC @ $45,XXX

[urbanhack 12,437]

https://twitter.com/apompliano/status/1364324755889917965?s=21

BREAKING: Square just announced they purchased another $170 million worth of bitcoin for their balance sheet.

This brings their total bitcoin exposure to approximately 5% of their cash assets.

 

Edited February 23 by urbanhack

[Yo Mama 4,796]

Jumped in for the first time today with some GBTC at $45.35 to join the fun. Here goes nothing/something. 

[KGB 457]

5 hours ago, KGB said:

Purchased $4K worth of BC @ $45,XXX

Up 9% in a few hours.  Crazy 

[CGRdrJoe 4,106]

ETH is the one that is killing me only cause I entered it last week drunk off my ###

[KGB 457]

2 minutes ago, CGRdrJoe said:

ETH is the one that is killing me only cause I entered it last week drunk off my ###

That's my problem with crypto.  I can do some serious damage

[KGB 457]

BC already back to 50K

Is GBTC they best stock to follow the price of BC?  Most of my money is in etrade and only have a bit in robinhood for buying BC

[CGRdrJoe 4,106]

1 hour ago, KGB said:

That's my problem with crypto.  I can do some serious damage

Fn bourbon

[KGB 457]

6 minutes ago, CGRdrJoe said:

Fn bourbon

ETH can be back to 1800 in 10 min.  hold!

 

I'm considering dumping my 4K (now almost 5K)  in BC and moving it to ETH right now

[CGRdrJoe 4,106]

15 minutes ago, KGB said:

ETH can be back to 1800 in 10 min.  hold!

 

I'm considering dumping my 4K (now almost 5K)  in BC and moving it to ETH right now

If I drink another half bottle of Buffalo trace I probably would 

[The Ref 4,372]

35 minutes ago, KGB said:

BC already back to 50K

Is GBTC they best stock to follow the price of BC?  Most of my money is in etrade and only have a bit in robinhood for buying BC

Other guys in the thread probably more qualified to answer than me as I’ve only really been following for a month.  My lazy explanation below.....

GBTC is a near 1:1 follow Of BTC.  It’s trades at a small premium but it was sub 4% last I checked.

MSTR is the company with the CEO that keeps borrowing 1B cash at a time and goes into the market and buys BTC with it.  It’s a tech company but what it’s turning Into is a BTC holding company.  Seems to trade at 100% premium to BTC so it acts like a 2x ETF

RIOT and MARA are crypto miners with focus on BTC.  They are trading to some big premiums and obviously are mining more every day, as much as you can still mine.  They are like 3x ETFs

All of the following is for trading and investing but if are pure at heart to “the movement” you should have a wallet and control your own keys and buy some and put it into “cold storage”.  This is like the equivalent of buying a bar of gold and locking it up in your safe or a safety deposit box.  Probably not day trading this bit hold Long term.

[KGB 457]

4 minutes ago, The Ref said:

Other guys in the thread probably more qualified to answer than me as I’ve only really been following for a month.  My lazy explanation below.....

GBTC is a near 1:1 follow Of BTC.  It’s trades at a small premium but it was sub 4% last I checked.

MSTR is the company with the CEO that keeps borrowing 1B cash at a time and goes into the market and buys BTC with it.  It’s a tech company but what it’s turning Into is a BTC holding company.  Seems to trade at 100% premium to BTC so it acts like a 2x ETF

RIOT and MARA are crypto miners with focus on BTC.  They are trading to some big premiums and obviously are mining more every day, as much as you can still mine.  They are like 3x ETFs

All of the following is for trading and investing but if are pure at heart to “the movement” you should have a wallet and control your own keys and buy some and put it into “cold storage”.  This is like the equivalent of buying a bar of gold and locking it up in your safe or a safety deposit box.  Probably not day trading this bit hold Long term.

Thanks.

I'm in HEX for my "actually owning" wallet type of crypto.  I was just looking for a swing trade type symbols.  Perfect explanation.  Thank you very much.

 

Order placed for RIOT for the AM

[KGB 457]

2 hours ago, KGB said:

Up 9% in a few hours.  Crazy 

51K and 12% 

[Rodrigo Duterte 812]

@Todem, a very experienced and respected broker from the stocks thread, called bitcoin a Ponzi scheme yesterday.

I have no dog in this fight, rather, I'd simply like to learn a lot more.  As such, I think a discussion between some of the bitcoin experts like @hooter311 and others, along with Todem and that camp, would benefit all.

Maybe someone could start a thread for it?  Very interesting times.

[KGB 457]

48 minutes ago, KGB said:

51K and 12% 

out 12%

[ConstruxBoy 1,329]

8 hours ago, Rodrigo Duterte said:

@Todem, a very experienced and respected broker from the stocks thread, called bitcoin a Ponzi scheme yesterday.

I have no dog in this fight, rather, I'd simply like to learn a lot more.  As such, I think a discussion between some of the bitcoin experts like @hooter311 and others, along with Todem and that camp, would benefit all.

Maybe someone could start a thread for it?  Very interesting times.

This thread should be fine for a discussion. My experience has been that most "trader/brokers" I've heard from are very negative about Crypto. I can't decide if that is due to a lack of understanding or a perception of a threat. Probably a little of both. 

Edited February 24 by ConstruxBoy

[BassNBrew 11,514]

39 minutes ago, ConstruxBoy said:

This thread should be fine for a discussion. My experience has been that most "trader/brokers" I've heard from are very negative about Crypto. I can't decide if that is due to a lack of understanding or a perception of a threat. Probably a little of both. 

I suspect it’s because the US government could come in and crush it like a cockroachI suspect it’s because the US government could come in and crush it like a cockroach

[brun 989]

33 minutes ago, ConstruxBoy said:

This thread should be fine for a discussion. My experience has been that most "trader/brokers" I've heard from are very negative about Crypto. I can't decide if that is due to a lack of understanding or a perception of a threat. Probably a little of both. 

It's hard to know unless they articulate a reason. Even then,  they may not all share the same reasons.

Outside of the financial world there are even more reasons given. For example, I mentioned btc to my boss about a month ago. He said he had no interest because he didn't trust it. One of the reasons he didn't trust it was because it isn't FDIC insured. I tried explaining why that shouldn't be a consideration but didn't get through and didn't have the energy to commit to the conversation. 

[ConstruxBoy 1,329]

20 minutes ago, BassNBrew said:

I suspect it’s because the US government could come in and crush it like a cockroachI suspect it’s because the US government could come in and crush it like a cockroach

You can say that again. 

[ConstruxBoy 1,329]

Jokes aside, please explain to me how the Govt can crush it? 

[CR69 1,503]

25 minutes ago, BassNBrew said:

I suspect it’s because the US government could come in and crush it like a cockroachI suspect it’s because the US government could come in and crush it like a cockroach

Doesn't seem like they're trying to crush it... https://www.rollcall.com/2021/02/23/sec-decision-is-first-step-to-brokers-mainstream-cryptocurrency-use/

Also. We now have people with crypto backgrounds taking positions all over the government and federal reserve. 

[Capella 31,447]

30 minutes ago, BassNBrew said:

I suspect it’s because the US government could come in and crush it like a cockroachI suspect it’s because the US government could come in and crush it like a cockroach

How?

[brun 989]

2 minutes ago, Capella said:

How?

Same way they crushed online gambling. 

Oh, uh, never mind. 

[jb1020 1,549]

12 hours ago, CGRdrJoe said:

ETH is the one that is killing me only cause I entered it last week drunk off my ###

I've made some late night purchases myself.  They eventually work out.  I started buying in November 2020 and have since doubled my money.  Got my feet wet in November, bought my first chunk in December, then another in January and a tad in Feb.  I've learned with every big spike, a small correction follows 4-5 days later.   I've been emptying out my robin hood account and few other accounts that don't really perform.  

I like where I'm at now.  I have some weekly deposits set up on BTC and Eth and about 15% tied up alt coins.  If you can play that game and be patient you can make some real profit.  I figured out this week I need to be better at sitting on profit via a stable coin, instead of converting one alt to another.  

If I had taken some of the coins that were up 50% or more and put them on a stable coin and had that buying power yesterday I could have made bank.  Everything was down 20-30% yesterday.  Most of it is already recovering.  

[ConstruxBoy 1,329]

28 minutes ago, Capella said:

How?

Yeah, I didn't know if he had a real explanation because I don't understand how that would work. I get that India is saying they ban it but I have the same questions. How does a government ban it? It started as a medium of exchange on the dark web. At worst it goes back to being that. 

[HaFo SaFo 110]

3 hours ago, Capella said:

How?

Have the IRS classify them as collectibles like regular coins, require the exchanges to report ownership, and tax any profits at 28%.