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Hmm. Maybe.FreeBaGeL said:
Can't they just sell it as soon as they receive it?
Sure. But I don’t really know the cash flow / timing of Tesla payments. It still adds complexity and extra work into their business model. And some risk. Again, it wouldn’t shock me if the board had concerns about this. Could easily be wrong though.
Yes, most merchants that accept bitcoin have it immediately converted to dollars or whatever currency by the processing service they use.
Do you use Robinhood?
Short term? Who knows. Long term, absolutely a great opportunity to buy for a diversified portfolio.
It should have decent support here. I'd be surprised if it breaks right into the 20s.
hey, there's a big sale going on, but we're gonna go ahead and lock our doors.Coinbase is down
“don’t worry your money is secure”
uhhhh...I didn’t ask
Kraken crapped the bed on me. Binance and Kucoin have been stable though.Coinbase is down
“don’t worry your money is secure”
uhhhh...I didn’t ask
I had a feeling it would end (recent run up) badly when every other post was “what’s the next one to double” or “oh, it will be double or triple by the end of the year guaranteed.” That’s when you know you are in danger territory. I think so many people have jumped into GME, AMC and crypto over the past year plus assuming it’s all easy money and not having much experience pre-2020 crash.
ETH was at this level only a month ago. It may feel on sale, but based on “growth” stocks getting hammered, be careful assuming it’s so cheap because of the high. ETH is still triple what it was at the start of 2021.Yeah, I think I'm going to dip my toes in ETH 2K and BTC 30K or thereabouts. Don't tell my wife
Just noticed that Coinbase seems to be the most commonly suggested platform for those starting to dabble in crypto and the most likely to crash when there are huge events.
seems that way. i wasn't too worried about how fancy the platform is because i'm planning on holding long term, but buying the dips seems more difficult on Coinbase.
When i bought ada at 1.94 it was usdt/ada. When btc went under 50, i went 50% stable. When it cracked 45, 90%. just held eth, congestion and stupid gas. use your stable coins people. every vlogger dude i watch emphasizes this. crypto is friggin volatile.
In the short term, that's a prudent way to look at it. If you have a longer term view, and have conviction in what these things could be, then buying at 50% from highs vs. 70% from highs becomes less important.
Binance.US would be my vote. As I mentioned in this thread, setup is easy, funding is easy, trading fees are super low. My only complaint is it doesn't have DOT.
any advice on how to transfer?
I am all in. I agree a new digital economy is having birth pains, but long term this is world changing disruptive technology. hodl hodl hodl.
@DA RAIDERSI hope you waited, bro.
But what if BTC went from 50k to 75k? Hindsight is great and all, but no one has a crystal ball here. If they do please share.
It’s not. The money depends, someone in here posted how much leverage was going on at some exchanges so might not be as much money to go elsewhere. Those market caps just exploded, it wasn’t like they started with that much cash.
it seemed the fud had momentum.
no crystal ball here. i never hit a high or low in my life, but hitting it part way down and part way up when we're seeing candlesticks is pretty common transaction strategy. network fees are an issue, but not worth risking. i make very few transactions compared to day traders, but i follow a several TA guys and their chart watching.
I personally leave my holdings on the exchange. I think it's safe and don't trust myself with the custody. I know others feel differently, so it's really what you feel comfortable with.
I’ll be honest with you. I’m good on the tech but if Facebook can relatively easily build their own coin and blockchain (as can anyone, look at all the new ones), why are the coins worth much? Why is the heart of Visa’s network not an investable coin? That’s always been one of the weird things for me. I get the transactions and the fees for transactions to cover the exchange costs and miners needed to handle the transaction but that in between “coin” always felt weird as an investment. China is building it’s own digital currency, probably on blockchain tech (I think we are too) so having them outlaw crypto for all financial institutions doesn’t seem like a veiled threat. Maybe ETH and/or BTC survive or maybe something else entirely, Google wasn’t close to the first search engine.
So, I'm learning here. Are you saying those crypto market caps aren't based on inflows or that the market caps represent a high percentage of borrowed money? I assume in either case those cashing out have a pile of money to do something with; whether to pay a percentage back on borrowed money and/or invest in something else. If it's invest in something else the "where" is the million dollar question. Still not seeing yields all that compelling, but suppose if you have a ton of money that works for some. My sense is crypto people like the rush and wouldn't be content to sit on cash or low yields.
I’m just parroting what some folks mentioned about Binance, I think, where you had people almost like in a 3x ETF where if things go well, it pops even more but things go south and people have to sell. Kind of like the short squeeze stocks we hear about a lot. That said, I’m not crypto expert, just felt like stock market crashes where they say when your taxi driver is giving you stock tips, that’s a bad sign. Same here, everyone and their mother is telling you which crypto will double next. Feels like things went too high too fast.
Anyone can build blockchain, but the trick is getting people to commit their hardware, electricity, and time to the blockchain.
In theory, the blockchains are decentralized. In practice, a relatively small number of massive sever farms do most of the mining. Link
Let’s be honest, NFTs are the first thing that’s really been used on any network outside of pure speculative investing. China runs China. If they say boo, that’s what happens over there. That’s a big risk India has talked about the same types of bans.
