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Bitcoin-Explain to me how to buy these things (4 Viewers)
- Thread starter Sheriff Bart
- Start date
Captain Cranks
Footballguy
What kind of portfolio are you trying to build? A bunch of 0 or 100X low probability gambles? A blend of moonshots with less risky stuff?
XHV and ILV are moonshots with the former just recovering from a dramatic fall and the latter with a non-stop run of late. If you're concerned with entry points at all, I'd consider waiting on a pullback with ILV.
All that said, if you have the time and interest, I'd recommend doing your own research on this stuff. One thing I've learned in my few months in crypto, I'm better off finding stuff on my own rather than shadow trading someone here or on Youtube.
Captain Cranks
Footballguy
BTW, watched my first Richard Heart video the other night. His first name checks out.
Chaos Commish
Footballguy
George is a good follow for noobs. He's been all about bitcoin lately, but that's unusual for him. He preaches a 50-25-25 allocation. 50 btc, 25 big cap alts, 25 mid small and carefully vetted micros. He's proving the wisdom of this by showing every move he makes with a new portfolio funded with 5k and then $100 a week through Christmas. Two shows a day, morning and night. Lighthearted for the most part. I consider him my news. You can skip the Q&A that ends every show. It's can be informative but it's just a bunch of yes/no/dunno as he gets grilled on this and that.
Also KGB, your HEX guru sounds like an excellent resource.
KGB
Footballguy
Captain Cranks
Footballguy
Pulse investors, errrrrrrrr, medical research donators, what are your thoughts on this?
Last minute HEX sacrifice
Last minute HEX sacrifice
KGB
Footballguy
Just watched the whole thing.
Pretty fair report. Makes opinions on both sides. I wish I was smart enough to have a valid opinion lol.
Although this is a sacrifice. I'm not in it for a cause. Just in it for money. So that's what I'm hoping for
Chaos Commish
Footballguy
Chaos Commish
Footballguy
Just because "I" am moving away from ADA doesn't mean it's "going the way of something". I'm a teenytiny voice in the cryptosphere who makes dumb mistakes all the time.
Algo and Ada have some things in common. Brilliant proven founders who both have nearly chastised their holders for constantly asking and worrying about price. Both have stated clearly they don't care about price. They care about their projects accomplishing big goals.
You have to respect that. But blockchain allows for lots of clever ways to boost price. Algo and Ada won't play those games. Does it hurt the price? Maybe short-term but long-term they're doing it right soooo? Dunno. I still own both. I will move away from ADA. I'm probably patient with Algo. It's the most superior tech in the business and I doubt anyone can catch them. A genius Turing award winner for a founder and over 100 Phds as developers. Algo is fantastic. Charles/ADA mentions it all the time.
From Algo Reddit:
I follow way too many projects twitter feeds. Algo has a marketing girl, but it's pretty dead space compared to 100s of others. Charles does too much on twitter for my liking, but at least he's out their keeping us informed.
beer 30
Footballguy
TheDirtyWord
Footballguy
I have to say, I really enjoy this thread. As someone who has become a crypto enthusiast and investor over the past 12-18 months, seeing others go thru the same journey albeit via different paths and protocol interests is cool. I’ve made this recommendation in another post upthread, but I’d highly recommend reading this entire thread which dates back years to get a sense of the journey the entire space has been on, the way posters talked about crypto...the yawning gaps in time when big bear markets hit and no one posted here, etc.
The infrastructure bill and its backdooring of crypto legislation is what got me to post my thoughts today. I wouldn’t say they are all that expansive, but to watch the US government in action...performing sleight of hand tricks with regard to trying legislate this space with literally no understanding of it save for a handful of senators has been comical.
Rob Portman supporting the Wyden/Toomey/Lummis amendment on Twitter, then less than 24 hours later, sponsoring a competing and horribly structured one at the ‘beneath the surface’ urging of Janet Yellin who earned $7.2M in Zoom call speaking fees from big banks in 2020...I mean, if that doesn’t scream ‘fear’ on the part of the establishment, I don’t know what does.
My overall thesis on crypto is that it will usher in the Age of Decentralization over the course of the next 50-100 years that will permeate down to the basic structures that we/humanity have set up for ourselves, that exist today and have existed for centuries. I think it’s that big. So to watch Washington flail around helplessly and disingenuously in a keystone cop type manner...certainly not surprising, but revealing nonetheless.
The thing about decentralization, particularly in a digital space it that ultimately, it’s strength, it’s anti-fragility works around physical constraints. Just like the hash rate of BTC tanking when China finally banned mining it and it finding new spots to set up shop around the globe...it takes the best shot the old world has to offer and simply goes about its business as it always has.
However this episode winds up...the takeaway I got from it is that something that didn’t exist 12 years ago is scaring the shyte out of Washington because crypto solves a problem they’ve spent the past 50 years creating while kicking the can of financial accountability down the road.
I know I’ll be
The infrastructure bill and its backdooring of crypto legislation is what got me to post my thoughts today. I wouldn’t say they are all that expansive, but to watch the US government in action...performing sleight of hand tricks with regard to trying legislate this space with literally no understanding of it save for a handful of senators has been comical.
Rob Portman supporting the Wyden/Toomey/Lummis amendment on Twitter, then less than 24 hours later, sponsoring a competing and horribly structured one at the ‘beneath the surface’ urging of Janet Yellin who earned $7.2M in Zoom call speaking fees from big banks in 2020...I mean, if that doesn’t scream ‘fear’ on the part of the establishment, I don’t know what does.
My overall thesis on crypto is that it will usher in the Age of Decentralization over the course of the next 50-100 years that will permeate down to the basic structures that we/humanity have set up for ourselves, that exist today and have existed for centuries. I think it’s that big. So to watch Washington flail around helplessly and disingenuously in a keystone cop type manner...certainly not surprising, but revealing nonetheless.
The thing about decentralization, particularly in a digital space it that ultimately, it’s strength, it’s anti-fragility works around physical constraints. Just like the hash rate of BTC tanking when China finally banned mining it and it finding new spots to set up shop around the globe...it takes the best shot the old world has to offer and simply goes about its business as it always has.
However this episode winds up...the takeaway I got from it is that something that didn’t exist 12 years ago is scaring the shyte out of Washington because crypto solves a problem they’ve spent the past 50 years creating while kicking the can of financial accountability down the road.
I know I’ll be
Chaos Commish
Footballguy
The Senate rejected the compromise that made me say yay. Not only that, new language #s 2 and 3 were also dumped. They're passing the worst of the worse. It's an educated guess this is what too big to fail banking always wanted. It's war on crypto US style. If this becomes law it's very Chinese of us. Miners and developers will flee the country as they did in China. Citizens will be extremely limited in what cryptos they can hold, as they are in China. Hoskinson is the most vocal angry PoS founder on the socials. The House can fix this. I am as apolitical as they come, but contact your House reps please.
I may have this wrong. There's two bills, and I just skimmed to the crypto stuff. But passing on Tuesday is a slam dunk. Then the House and Senate recess for the summer. The House can fix this when it's back in session. But there's morbid gloom on the socials that they have the will.
I may have this wrong. There's two bills, and I just skimmed to the crypto stuff. But passing on Tuesday is a slam dunk. Then the House and Senate recess for the summer. The House can fix this when it's back in session. But there's morbid gloom on the socials that they have the will.
Chaos Commish
Footballguy
Bitcoins current uptrend is being credited to this legislation. Many are expressing confusion why the market isn't tanking, especially the alt market. I said it was interesting because most alts are coupled to bitcoin. That will change as more become informed of the ramifications.
All this fud has me confused. I'm not making any big moves. If bitcoin is headed for a new ath, I'm good. If the market tanks, I'm ready to jump into stables and maybe more BTC on the dip. Made a bunch with that move.
All this fud has me confused. I'm not making any big moves. If bitcoin is headed for a new ath, I'm good. If the market tanks, I'm ready to jump into stables and maybe more BTC on the dip. Made a bunch with that move.
Captain Cranks
Footballguy
I'm taking CTO Larsson's advice and trading less. The price action will dictate if we need to start de-risking, but as it stands BTC is at three months highs despite the Senate passing a bill that would overly regulate crypto.
Sam Bankman-Fried of FTX was on CNBC this morning and opined that the market is up in this environment because it's shown how much support there is for crypto by some legislators.
Will the banking industry do their damnedest to neuter the defi threat? Of course. But there's a whole lot of other lobbies that will be fighting for the US to lead this technological revolution rather than let it sail off to foreign competition. Wall street is the financial capital of the world. If the US over-regulates the industry, that will no longer be the case in a couple decades.
I personally think wiser heads prevail and even if the bill passes the House as-is, it'll be fixed before implementation in 2023.
Sam Bankman-Fried of FTX was on CNBC this morning and opined that the market is up in this environment because it's shown how much support there is for crypto by some legislators.
Will the banking industry do their damnedest to neuter the defi threat? Of course. But there's a whole lot of other lobbies that will be fighting for the US to lead this technological revolution rather than let it sail off to foreign competition. Wall street is the financial capital of the world. If the US over-regulates the industry, that will no longer be the case in a couple decades.
I personally think wiser heads prevail and even if the bill passes the House as-is, it'll be fixed before implementation in 2023.
KGB
Footballguy
KGB
Footballguy
I will have stakes in BTC and ETH. Also PLS and HEX and ADA.
I guess what im looking for is Sub-1c boom or busts.
Captain Cranks
Footballguy
Sure, but I don't think you have to wait for ATHs before getting long.
Speaking of which, here are my top holdings and their current price to ATHs. DOT and LINK are really lagging. DOT I can try to understand: Slow roll-out and SEC securities risk. I have no idea why LINK is such a dog.
I suspect ADA will catch up to BTC and ETH now that it's broken through $1.50 resistance.
BTC - 70%
ETH - 71%
ADA - 63%
SOL - 70%
DOT - 41%
LINK - 45%
Chaos Commish
Footballguy
From my snapshot the first week of july when i bought or cost averaged
Link and Dot are up 36 and 38%
Solana and ADA 20 and 19%
Guess it depends on when you bought.
Link and Dot are up 36 and 38%
Solana and ADA 20 and 19%
Guess it depends on when you bought.
Captain Cranks
Footballguy
I think if you're trying to deduce anything from a project's price action, you wouldn't consider personal entry points.
Chaos Commish
Footballguy
I'm considering 6 weeks (a dip i bought) vs two days (ADA waking up)
edit - i always take time stamped snapshots when i make significant changes. it's mostly a curiosity if the changes beat the general market.
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Captain Cranks
Footballguy
I understand why you'd want to look at it that way. I certainly do the same thing. My post regarding ATHs, though, was more of a macro look and pondering why LINK and DOT are lagging relative to the market in general.
Captain Cranks
Footballguy
ETH gonna throw the market on its back today. Easy climb to 3,400 from here.
ETA - May have spoken too soon. $600M hack of Poly chain has the market spooked.
ETA - May have spoken too soon. $600M hack of Poly chain has the market spooked.
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Chaos Commish
Footballguy
when i say i make dumb moves, it's all here in writing. dumped so much eth to get into homerun swings. just... terrible.
if not for the tking save that was paired to eth, i would be miserable about it.
i owe @eoMMan for that one. drinks on me any time
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Captain Cranks
Footballguy
Nah. Not dumb. So much of this is luck and being at the right place at the right time. You're crushing some other stuff so I think it's working out just fine.
Chaos Commish
Footballguy
I spent some time writing you a private message. I kept laughing that I was "typing in my mind" first and realizing it was gonna become a novel. So I tried really hard to keep it short. Then I clicked on something and poof, gone forever. haha
I don't want to influence anyone here, and I know Cranks thinks for himself and would have enjoyed his reply, but alas. I made another dumb mistake.
It started with a book recommendation. Out of the Ether, Matthew Leising
I'll leave it at that, recommended for all interested. I think a redditer tossed up a free pdf if want to look for that. And I'll add, cryptically without explanation, this is about 50% of why I am not supporting ADA. The explanation and other 50% is lost in the ether.
Captain Cranks
Footballguy
I spent some time writing you a private message. I kept laughing that I was "typing in my mind" first and realizing it was gonna become a novel. So I tried really hard to keep it short. Then I clicked on something and poof, gone forever. haha
I don't want to influence anyone here, and I know Cranks thinks for himself and would have enjoyed his reply, but alas. I made another dumb mistake.
It started with a book recommendation. Out of the Ether, Matthew Leising
I'll leave it at that, recommended for all interested. I think a redditer tossed up a free pdf if want to look for that. And I'll add, cryptically without explanation, this is about 50% of why I am not supporting ADA. The explanation and other 50% is lost in the ether.
Dammit. Now I'm intrigued.
Chaos Commish
Footballguy
Senate has passed the bill. Of course.
beer 30
Footballguy
Chaos Commish
Footballguy
Okay. It isn't stuff I want to post publicly. Accusations, assumptions, suppositions. Insulting stuff. Some drama. There's a rebuttal to all of it, that I don't accept entirely. So since beer 30 is also interested, I have an offer to save me a bunch of that typing I lost. If not ready to read the book, find the excerpts out there regarding Hoskinson.
PM me when you do. I'll type up my thoughts from then (2014) to current and send to anyone who does that much. When I have the motivation again of course. It's bothered me for a few weeks, but I'm not one to post a bunch of ugly about someone publicly. Keeps me out of politics. That's a bonus.
Chaos Commish
Footballguy
Interesting tweet thread that started yesterday.
pretty high percentage of "nope, not still holding ada"
pretty high percentage of "nope, not still holding ada"
![[icon]](/data/avatars/m/5/5167.jpg?1660313464){kind=avatar}
[icon]
Insoxicated
Ugh CryptoTwitter is like throwing 50 vomiting toddlers in a closet and feeding them skittles.
TheDirtyWord
Footballguy
That first comment about market cap - current crypto market cap is $1.7-1.8T. Wouldn’t be surprised if by 2030, that is $100T.
In reality, the vernacular of market cap should be replaced by network value. If ADA survives, a fair ‘if’...would imagine ADA would have at least a 13 figure network value.
[icon]
Insoxicated
Out of curiosity.. with the complete global supply of currency at $6.6T USD, and total supply of Gold valued around $7-8T... we really expect crypto cap to hit 20x either of those?
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Chaos Commish
Footballguy
depends on who you follow. i follow the projects, not influencers. you want to know what's coming follow the projects. you want that weird thing you said, follow influencers.
Captain Cranks
Footballguy
it'll also absorb corporate treasury value, equity value, and corporate and government debt. As Michael Saylor aptly puts it, it's the digitization of money, just like the internet digitized information.
Captain Cranks
Footballguy
One thing that stuck with me in my Youtube ventures a couple months back was a quote that said something to the effect of 'crypto is a game of patience'. Whoever said it was referring to DOGE and how if you were patient enough to hold when it was meandering around $0.05 for a couple months earlier in the year, you just earned yourself a 10X.
I'm a trader by heart (and professionally), so it's really difficult for me to not trade in and out of these things. However, a lot of these YTers (JRNY Crypto and CTO Larsson) are keeping me grounded in doing more investing than trading.
There’s a #### ton of speculation in the current market cap. It’s akin to Apple or Microsoft or Amazon right now with a company that has great potential but almost negligible actual revenue for the company. Sure, the stock of the company trades and there’s revenue for the trading exchanges that sell that stock but the actual company whose stock is $1.8T has no revenue. I own just BTC right now so I don’t miss the party but I’m not a big believer in the coins as investments and so many of these billion dollar projects will end up worthless. It’s very similar to tons of tech companies like the original search engines (only Google is left and they were a late comer). Every EV company was worth billions when it was all speculation. You still had your Tesla, but Nikola and Lordstown were valuable too but pretty quickly people realized that some of the business plans weren’t going to pan out and there’s very likely more shake out. Maybe Subaru goes under, maybe Fisher too, but almost any code can create coins and a project. There’s just way too many projects to be useful so be prepared for 90%+ of them to be gone once the handful of winners rise up. Even Richard Heart, who I don’t know if he’s a good or bad guy, just said that he thinks there could be a 90% drop because it’s all speculation with nothing really happening.
Captain Cranks
Footballguy
I couldn't find anything on Hoskinson in 20 minutes of internet research except for some potential prostitution story. Doubt that's it. Whatever. Ima get back to watching this huge green candle.
TheDirtyWord
Footballguy
Crypto isn’t just about currency...it really will be the displacement of all financial vehicles that we know and are familiar with today (and more types that we haven’t even thought of, much like the internet brought forth new business models and information access/pathways).[icon] said:
This is a real cool representation of ‘all the money in the world’...it includes real estate, equities, derivatives, etc. Crypto has the potential to disrupt/displace many of these. Now, I don’t think that happens all by 2030...but the amount of growth/innovation we’ll see over the next decade in this place will be astounding. Not just from a tech perspective, but probably more importantly from an adoption perspective. The day is coming where via crypto, you’ll be able to invest in fractional Park Avenue real estate. You’ll be able to earn real spendable income playing video games. Banks certainly won’t have a monopoly on lending money and say goodbye to 0.4% APR on your savings. That will simply generate laughter.
Now, I do agree that many of the projects we see today will not exist 5 years from now. It’s not that they are bad projects. It’s just that what seems incredibly innovative today, will be table stakes in 3-5 years.
Captain Cranks
Footballguy
We're already there on these.
I run a small hedge fund and was looking over the bank statements of its collateral accounts yesterday. Three of the accounts whose total balance is nearly $1 million earned a combined $14 in interest last month. If I had the ability to park it on Celsius, that could have been over $6,000.
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beer 30
Footballguy
Found a little
https://twitter.com/BobSummerwill/status/929155116736790529
https://www.youtube.com/watch?v=c_FzZenA6PI
Links found in this article
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Captain Cranks
Footballguy
Obviously we each have our own sensibilities, but I'd find it strange if CC was turned off by ADA for this while diving in head first for a huckster like Richard Heart.
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Angry Beavers
Footballguy
what do you like about DOT?
FWIW, I have BTC, ETH, ADA, and smaller positions in BAT, SOL and Theta.
Captain Cranks
Footballguy
I've been trying to use a variation of the Larsson Line Indicator to determine the longer term trend. Right now the only two coins in the top 20 that have flipped bullish are ETH and SOL. Even BTC and ADA are still lagging although they may flip soon.
jb1020
Footballguy
My book is similar. You guys will probably laugh at me....but when I started in crypto about this time last year I really tried to research these things, looking at projects, time lines, etc. That turned out to be completely overwhelming so now I just subscribe to one of those trading target guys. I really could care less about the projects or use of these coins now....I'm jsut looking for quick profit.
So what I like about DOT...it appears to be coming out of an accumulation period, has support and is poised to potentially make a 20-30% jump here in the next few weeks.
