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Bitcoin-Explain to me how to buy these things (1 Viewer)

Looking for thoughts.

XRP - Ripple

So XRP has been taken off of things like coinbase.

If they win or settle their issues with the lawsuits/govt I think it has a chance to recover.

Thoughts?

 
ILUVBEER99 said:
precious metals have a pretty bad return over the last 10 years.  Why not just go with the S&P 500 over them?

There is no innovation in metals.  They are 100% a hedge against an apocalyptic scenario.  At least with bitcoin/ETH/other legit crypto projects there is the innovation upside.

Metals are somewhat safe and i don't think it's a bad play.  Just a very safe play without much reward unless our entire economy collapses.  And let's be honest, in that scenario we're all f'ed.  
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Even as a believer in crypto—There is no way of predicting the regulatory future of crypto. Secondly—crypto requires an internet connection and electricity to use it—which vastly limits its ability to be used in tough situations.   Thirdly—I’m not proposing that anybody gets out of crypto and equities and alternatively invest in precious metals.  I’m recommending that people that own crypto, equities and other investments mix precious metals into their basket of investments as a way of balancing them.   The fact that they haven’t gone up nearly as much as the others have in a massively inflationary environment is one of the main reasons why I think they have more runway to go up. 

 
jvdesigns2002 said:
Full Disclosure—Long term—i’m Bullish on crypto and have some exposure to it.  I also have exposure to the precious metals—but the majority of my exposure to precious metals were acquired at much lower prices than they are now. 

With the disclosures aside—China basically said crypto and crypto transactions are illegal today—and most cryptos have dropped 7-10%.  I have to say—-I feel like the drop could arguably be too mild for what just happened. The second largest economy on the planet just dropped an asset class—and the class only dropped 7-10%?  Makes me feel like the precious metals are grossly undervalued right now.   I think people that might be over invested in crypto might want to consider adding some precious metals as a diversification tool.   The ambiguous nature of cryptos future regulatory outlook might make more of the market look to more established stores of wealth—like gold and silver. 
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I read an article the other day that said this is China's 10th iteration of "banning crypto".  That news has long been built into the market.  That said, if you're invested in crypto and not prepared to see its value decrease by 80% in the short term, you're in the wrong game. 

As you mentioned, upcoming US regulations are the biggest challenge facing the industry and will likely dampen participation by many institutional and corporate investors until there's greater clarity by the SEC.  If your time horizon is longer, 3-5 years, and you're comfortable watching your portfolio go down horrendously in the short term, investing in BTC and the Layer 1 protocols like SOL, ADA, ATOM, DOT, EGLD, XTZ, ALGO, AVAX, and ETH (I mention them only because I feel obligated to), then that portion of your portfolio will outperform all other asset classes by a wide margin, imo.  Diversification is key, but you're starting to hear more and more big name investors (Paul Tudor Jones, Kevin O'Leary, Mark Cuban, Black Rock) talk about a 5% allocation of their portfolios into crypto.  

 
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RC94 said:
Should I just get out of Bitcoin and take the relative small loss or wait it out and hope my loss doesn't get much worse?  I'm getting pretty tired of having this investment, but nobody likes selling for a loss.
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If you wouldn't put the position on today with new money, the answer is to get out.  Staying in when you don't want to is simply your brain trying to avoid the pain of the loss.  Get out and move on.  You'll forget about the loss in a day.  

 
jvdesigns2002 said:
Even as a believer in crypto—There is no way of predicting the regulatory future of crypto. Secondly—crypto requires an internet connection and electricity to use it—which vastly limits its ability to be used in tough situations.   Thirdly—I’m not proposing that anybody gets out of crypto and equities and alternatively invest in precious metals.  I’m recommending that people that own crypto, equities and other investments mix precious metals into their basket of investments as a way of balancing them.   The fact that they haven’t gone up nearly as much as the others have in a massively inflationary environment is one of the main reasons why I think they have more runway to go up. 
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You lost me there.  What "tough situations" are you referring to?  

 
Captain Cranks said:
You lost me there.  What "tough situations" are you referring to?  
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Apocalyptic event, such as huge meteor where Bruce ####s up, Geostorm if Gerard doesn’t turn it off, massive solar flare EMPs, smaller meteor that releases the massive dormant bugs that killed off the dinosaurs, free cell phone service that kills everyone except the elites, zombies, Paleolithic virus unearned by global warming, global warming turning everything into deserts way faster than scientists predict, global warming induced ice age again faster than scientists predict, World War III, quick nuclear war that unearths the same massive dormant bugs, dumb ### rock climbers causing rockslide unearthing said bugs, seismic event dropping California into the ocean also unearthing said bugs, any other event unearthing the bugs, seismic event triggering all volcanoes to erupt blotting out the sun, AI triggering nuclear winter blotting out the sun, AI triggering global EMPs or computer virus disabling all electronics and any combination of the events or parties mentioned above.

Son of a #####, completely forgot about any type of alien invasion.

 
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Captain Cranks said:
You lost me there.  What "tough situations" are you referring to?  
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Part of the appeal and values of crypto is that it can be used as a means of conducting commerce—the same way that money is.  However—for it to be exchanged or goods or services—-both power and internet connections are ready. Any situation where these are not available could be viewed as “tough” for it.  Power outages, bad weather, floods..etc.  The fact that it’s usability can be completely impaired when it might be needed the most—is definitely one of the downsides to crypto. 

 
jvdesigns2002 said:
Part of the appeal and values of crypto is that it can be used as a means of conducting commerce—the same way that money is.  However—for it to be exchanged or goods or services—-both power and internet connections are ready. Any situation where these are not available could be viewed as “tough” for it.  Power outages, bad weather, floods..etc.  The fact that it’s usability can be completely impaired when it might be needed the most—is definitely one of the downsides to crypto. 
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I think you can say the same thing about credit card transactions, online banking, and ATMs.  I personally rarely transact with cash.  Besides, crypto is 1) a much broader technology than its use as currency, and 2) I don't think it's going to replace fiat in most day-to-day circumstances, at least in the short to medium term.  I may just be missing your point, but I'm curious how you see it as any different than our current dependence on electricity and the internet.  

 
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Just catching up. I'm a broken clock on this point. Defi guys. Private keys, no custodial holdings. That's just for the conversation about starting off with coinbase or some other central exchange without mentioning the need to move assets away after initial purchases.

update: on this dip i moved 25% of my ada to sol. Another 25% to algo and elrond (15 and 10%). And another 25% into omi (which i wrote negatively about before learning more), pdex (boom) and harmony. Also moved more junk coins into eth (how they're paired).

so ada is no longer my dominant holding after btc. My allocation is more in line with "Youtube George's" advice. 50% btc bla bla bla. The index fund is nicely balanced, a few less assets, and I like it more.

I'm still mostly all about NFTs and VeVe's drops. And I'm trying not to write novels here...

eta: all cost averaging, no new assets... and i could go on and on about lightning network and a few other hot topics...

 
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jvdesigns2002 said:
Part of the appeal and values of crypto is that it can be used as a means of conducting commerce—the same way that money is.  However—for it to be exchanged or goods or services—-both power and internet connections are ready. Any situation where these are not available could be viewed as “tough” for it.  Power outages, bad weather, floods..etc.  The fact that it’s usability can be completely impaired when it might be needed the most—is definitely one of the downsides to crypto. 
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I carry $20 worth of crypto on my person at all times. 

 
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The market is at a critical juncture here.  I think we'll know within the next week or two if the past two months was nothing but a dead cat bounce before BTC resumes its travels to $20K.  Unfortunately, I'd put those odds at 60/40.  Part of me wants it to happen so I can buy in cheap to some blue chip NFTs, but I'm not sure I'm truly prepared to have 6 figure paper losses. 

 
Good read here is you are thinking about Crypto in general as Web 3.0.  

https://twitter.com/cdixon/status/1442201621266534402

Web 1.0 (roughly 1990-2005) was about open protocols that were decentralized and community-governed. Most of the value accrued to the edges of the network — users and builders.

Web 2.0 (roughly 2005-2020) was about siloed, centralized services run by corporations. Most of the value accrued to a handful of companies like Google, Apple, Amazon, and Facebook.

Web 3.0 We are now at the beginning of the Web 3 era, which combines the decentralized, community-governed ethos of Web 1 with the advanced, modern functionality of Web 2. Web 3 is the internet owned by the builders and users, orchestrated with tokens.
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The bold is why I'm long and moving more and more of my monthly savings into crypto.

 
urbanhack said:
Good read here is you are thinking about Crypto in general as Web 3.0.  

https://twitter.com/cdixon/status/1442201621266534402

The bold is why I'm long and moving more and more of my monthly savings into crypto.
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The bolded is also why those in power will do their damnedest to contain it/steer the rules in their favor.

Fortunately, the US government moves sloooowly and by the time they realize what they're dealing with, it'll be too late to clamp down egregiously. 

 
Captain Cranks said:
The market is at a critical juncture here.  I think we'll know within the next week or two if the past two months was nothing but a dead cat bounce before BTC resumes its travels to $20K.  Unfortunately, I'd put those odds at 60/40.  Part of me wants it to happen so I can buy in cheap to some blue chip NFTs, but I'm not sure I'm truly prepared to have 6 figure paper losses. 
Click to expand...


Why do you feel it's headed towards 20K as the most likely possibility? Many of the popular followers on Twitter are now talking as if the recent consolidation in coins is healthy and we're on track for 100K+

 
cubd8 said:
Why do you feel it's headed towards 20K as the most likely possibility? Many of the popular followers on Twitter are now talking as if the recent consolidation in coins is healthy and we're on track for 100K+
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From a technical perspective, if you look at what happened to BTC at the end of the bull runs in 2013 and 2017, we saw parabolic moves to ATHs before a pronounced collapse.  We then bounce heavily back towards the previous all time highs before taking an even further leg down.  In June and July of this year, we held $30K a few times, so that's provided solid support.  However, I'm not convinced we can rely on that support if the market sells off again.  If we do slip past $30K, there's not any technical support until we get to $20K.  

As for the crypto Twitter, rarely are those guys not bullish.  In April/May, everyone was saying BTC would hit $250K and that the bull run would continue until the four year halving cycle is over.  I recall Bitboy Crypto even mentioning an exact date when it would happen.  The market rarely moves as people expect to, so when I see everyone calling for $100K BTC by the end of the year, I take that as a bearish signal. 

 
KGB said:
ETH up 10%.  Hex down to .438

daytrade move.  almost all eth to HEX.

But not staking.  This is for trading.   :banned:
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Made a pretty easy 10% last time.

Im going to wait for ETH to hit 27XX and buy about $50K and see if we can make another 10%

 
KGB said:
I'm waiting for the 2700s on eth and only adding half I think.

Remember, crypto has 80% pull backs every few years.  Not like stocks
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I'm far from an expert here but I think the days of 80% pull backs are probably gone now with it being so much more mainstream.  There are just too many people that want to get in for cheap for it to pull back that far anymore imo.

Even more importantly institutions being involved now makes it even less likely imo.  They won't let it run that far without getting a piece of the action.

We've already pulled back 55% off the highs this year and I think that's about the limit anymore.  Of course I am just guessing here.

 
FreeBaGeL said:
I'm far from an expert here but I think the days of 80% pull backs are probably gone now with it being so much more mainstream.  There are just too many people that want to get in for cheap for it to pull back that far anymore imo.

Even more importantly institutions being involved now makes it even less likely imo.  They won't let it run that far without getting a piece of the action.

We've already pulled back 55% off the highs this year and I think that's about the limit anymore.  Of course I am just guessing here.
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I hope you are right!  Makes sense to me

 
Musk back to being a horrible ambassador for crypto.  When asked what the government should do about regulating crypto he responds with, "nothing."  

Not only is "nothing" ever going to be an option, but anybody with some sense knows that some form of regulation is necessary for the industry.  God, I wish he would go away.  

 
jvdesigns2002 said:
Full Disclosure—Long term—i’m Bullish on crypto and have some exposure to it.  I also have exposure to the precious metals—but the majority of my exposure to precious metals were acquired at much lower prices than they are now. 

With the disclosures aside—China basically said crypto and crypto transactions are illegal today—and most cryptos have dropped 7-10%.  I have to say—-I feel like the drop could arguably be too mild for what just happened. The second largest economy on the planet just dropped an asset class—and the class only dropped 7-10%?  Makes me feel like the precious metals are grossly undervalued right now.   I think people that might be over invested in crypto might want to consider adding some precious metals as a diversification tool.   The ambiguous nature of cryptos future regulatory outlook might make more of the market look to more established stores of wealth—like gold and silver. 
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Everyone thinks gold & silver are boring, until they become unobtainium & unaffordium.  Central banks and smart countries have been hoarding metal for a long time now.  Inflation and money printing is cartoonlike at this point, I don’t think people realize how screwed this is.  

This is more or less where I’ve been at since the market cap peaked around $2.3 trillion back in what, April/May?  I sold all my ETH at 4K, all my chainlink, all my bitcoin cash, everything save for my little batties.  My only position in crypto is 33k BAT and 22 PAXG, with some eth dust for moving coins around.  The rest of it is tied up in silver and gold on Uphold.  

I know what it’s like when the bottom falls out on these things, it’s not fun watching that kind of money turn to dust.  I think we’re well past the euphoric stage and long overdue for massive correction inline with Feb 2018.  But if/when the market finally cleanses itself of the Tether scam, and the regulatory picture clears up, I think it could be a once in a lifetime buying opportunity.  For now I’m comfortable just sitting on the sidelines and waiting. 

I do like PAXG a lot- it’s a claim to gold on the ethereum blockchain that you can park on Celsius or any of those apps and collect interest.  But with Tether such a huge liability and the markets floating in what seems like the most peak bubble of all time, I withdrew all mine and just keep them on a hardware wallet.  After Celsius screwed me out of a $500 BTC promotion- which hinged on depositing $25k crypto on their index- for having the gall to enter another promotional code on their app, I decided it looked like a scam where new investors frontload all the money for the old ones.  Apparently it is exchanges buying up all the crypto people loan out on Celsius, but the whole arrangement seems murky at best.  

Anyway my greatest fear is not another crypto collapse (which I would rather like) or another bullrun (which I wouldn’t), but the market just crabbing forever.  None of this makes sense to me anymore 

 
KGB said:
I'm waiting for the 2700s on eth and only adding half I think.

Remember, crypto has 80% pull backs every few years.  Not like stocks
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Good idea but it never hit $2700.  Missed this chance.  

:No, there is another: - Yoda

 
Some of my stakes have ended in HEX.

It's now sitting in metamask.  I'd like to buy some ADA and SOL but when I got to uniswap, I dont see it listed.

Am I missing a step?  is it avail?  I dont want to buy it in coinbase

 
KGB said:
Some of my stakes have ended in HEX.

It's now sitting in metamask.  I'd like to buy some ADA and SOL but when I got to uniswap, I dont see it listed.

Am I missing a step?  is it avail?  I dont want to buy it in coinbase
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You'll have to swap out of HEX and transfer the funds to another exchange to get the ADA and SOL.  

 
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Reactions: KGB
I bring my shame to this thread today, in hopes of helping others.  But you guys aren't morons like me.

I screwed up...I "attempted" to move a chunk of my XLM from coinbase to Kucoin I wanted to buy more Berpo at these sweet discounted rates (down over 40% in 30 days).  

I've never moved XLM from one exchange to the other.  So I'm sitting at my office, have it all mapped out and I guess I just spaced out for a minute...phones was ringing and people were in my office and what not.  Anyways, when moving XLM between exchanged you have a Memo number.  I got 2 different pop ups acknowledging that I had to put my memo number along with the wallet address.  

I saw it, read it, acknowledged it...then I wrote "bepro" in the memo section.  I've filled out that memo section a hundred times moving BTC or ETH various places...its never mattered what you put in the memo section.  IT DOES WITH XLM.  

Anyways...its gone.  Reached out to Kucoin and I'm obviously not the first one to do this.  They make it sound like they can recover it.  We'll see.  They sent me a long email and asked to send 30 USDT for their efforts.  I did that and I haven't heard a word in 24 hours.  

I'm still a little befuddled as to where this stuff actually goes in these situations?  You can check the stellar blockchain and it says it was successful.  

 
jb1020 said:
I bring my shame to this thread today, in hopes of helping others.  But you guys aren't morons like me.

I screwed up...I "attempted" to move a chunk of my XLM from coinbase to Kucoin I wanted to buy more Berpo at these sweet discounted rates (down over 40% in 30 days).  

I've never moved XLM from one exchange to the other.  So I'm sitting at my office, have it all mapped out and I guess I just spaced out for a minute...phones was ringing and people were in my office and what not.  Anyways, when moving XLM between exchanged you have a Memo number.  I got 2 different pop ups acknowledging that I had to put my memo number along with the wallet address.  

I saw it, read it, acknowledged it...then I wrote "bepro" in the memo section.  I've filled out that memo section a hundred times moving BTC or ETH various places...its never mattered what you put in the memo section.  IT DOES WITH XLM.  

Anyways...its gone.  Reached out to Kucoin and I'm obviously not the first one to do this.  They make it sound like they can recover it.  We'll see.  They sent me a long email and asked to send 30 USDT for their efforts.  I did that and I haven't heard a word in 24 hours.  

I'm still a little befuddled as to where this stuff actually goes in these situations?  You can check the stellar blockchain and it says it was successful.  
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I think they'll run it down for you.  Other than some stress and $30, you'll be back to square.  Let us know how things shake out.

 
The Bepro sale is officially over.  Now I'm really kicking myself for not getting that cash into Bepro.  

 
jb1020 said:
The Bepro sale is officially over.  Now I'm really kicking myself for not getting that cash into Bepro.  
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That sucks.  We're all gonna have hiccups along the way.  A person would have to be incredibly lucky not to bungle a few things in this industry given how new and disorganized everything is.   

 
SO, about 1 month ago, I moved a bunch of stocks into crypto.  HEX to be specific.  although hex is down over the last few weeks, up about 50%.

I had it all staked and now it is unstaked.  put a bit into Shiba just for fun, not recommending, and ill just keep it there a few years and see what happens.

a bit more into ACH.  not a bunch, just spreading some around.  

Now that it is unstaked, I can move it around.  

As far as the original 2K into HEX, its all staked and therefore not moveable.  Current value $588K (.42)  about 100K will be avail for cashout next week.  I will be taking that money and running to pay off pretty much all debt.  Next stakes are all over 1 year away.   So I will be sitting and waiting quite awhile on that stuff.

 
https://pulsechain.com/

This is from the same guy who did HEX.  If you google it, lots of talk about HEX being a scam.  For me, it's worked out well.  buyer beware.  I'm just posting my experiences as they happen.

I sacrificed a good chunk of money to get in early.  When you sacrifice, you literally are clicking something that basically says THIS IS WORTH NOTHING AND YOU EXPECT NOTHING IN RETURN.  The address I sent my money to, could literally just pick up and go, and nothing I could do about it.

PRetty scary.

Heres the wording...

You are sacrificing to prove how strong you believe that blockchains are speech and speech is a protected human right. This is an important political statement. You must have no expectation of profit from the work of others. The set of people who have sacrificed to show their commitment to this political statement makes a great set of people to airdrop free things to. This sacrifice points are not meant to have any monetary value. Remember, you're not buying anything, the world is just noticing you are amongst a group of people that sacrificed to make a political statement. Some countries tax their citizens when they receive things of value. PulseChain and all the coins on it are designed to start with no value, which is ideal. Consult your own legal and financial professionals, as nothing written here should be considered professional advice. The only thing we know of set to be airdropped for free to this political group so far is PulseChain (PLS.) If we hear about other cool things, we'll let you know.

Personally, I think like most people, I dont care about the message.  I just want to make lots of money.  I think 650MM was sacrificed.  and then over 10BB was added by I assume the originator.  What this means good or bad I have no idea.

The sacrifice phase is over and next up is TESTNET.  So you have to test a new coin before releasing, making sure it cant be hacked or whatever.  TESTNET has begun, so thats awesome.  why do testnet if you were going to take the money and run?  At least that's my thinking.

I think i'm going to keep a BIG chunk liquid, so that once it is actually launched (and not just an idea like with the sacrifice stuff) I can add to my position.

We shall see!

Good luck everyone!

 
KGB said:
SO, about 1 month ago, I moved a bunch of stocks into crypto.  HEX to be specific.  although hex is down over the last few weeks, up about 50%.

I had it all staked and now it is unstaked.  put a bit into Shiba just for fun, not recommending, and ill just keep it there a few years and see what happens.

a bit more into ACH.  not a bunch, just spreading some around.  

Now that it is unstaked, I can move it around.  

As far as the original 2K into HEX, its all staked and therefore not moveable.  Current value $588K (.42)  about 100K will be avail for cashout next week.  I will be taking that money and running to pay off pretty much all debt.  Next stakes are all over 1 year away.   So I will be sitting and waiting quite awhile on that stuff.
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Congrats on the awesome gains.  Do you know if many others will be in the same position with regard to the timing of their cashout next week? I'd be curious to see how the price holds up if there are a bunch of people trying to liquidate at the same time.  

As for PLS, I don't think it's a scam.  

 
Captain Cranks said:
Congrats on the awesome gains.  Do you know if many others will be in the same position with regard to the timing of their cashout next week? I'd be curious to see how the price holds up if there are a bunch of people trying to liquidate at the same time.  

As for PLS, I don't think it's a scam.  
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I do not know of any reason other cash outs would be synced up with my date.  My date is 365 days from my original $2000 investment.

I am a bit worried about a sell off of EHEX so people can buy PHEX/pulse

 
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