Cavalier Crypto 101

[shades 272]

19 hours ago, Nathan R. Jessep said:

So are we rolling everything we can into BTC before it blows through the roof?  

 

The transaction fees on selling the junk coins will eat up whatever you have on them. It's like when a penny stock drops and the broker commission is more than what you're holding if you wanted to get out.

[Gawain 2,358]

15 minutes ago, shades said:

 

The transaction fees on selling the junk coins will eat up whatever you have on them. It's like when a penny stock drops and the broker commission is more than what you're holding if you wanted to get out.

Deep brain chain 4 lyfe 

[JerseyToughGuys 3,151]

27 minutes ago, shades said:

 

The transaction fees on selling the junk coins will eat up whatever you have on them. It's like when a penny stock drops and the broker commission is more than what you're holding if you wanted to get out.

Binance, where much of this stuff is sitting, charges 0.1% for each trade.

So whether the collection of #### coins is worth 10,000 or .01, its the same fee. And these coins are sliced into micro slivers. 

[JerseyToughGuys 3,151]

In any event, my preference would be to wait on this crap. Let it ride, hope for a lucky runner. 

We bought in at the top of the "alt season" cycle. Unless people suddenly became less greedy, I am betting we see another alt season as BTC tops off (2 - 3 years). That trend has happened a few times in the history of all of this stuff. Taking a wait and see could end up yielding a lucky 100x or two. The time to put it into BTC was when it was sub 10K. 10x BTC from here is nearly $200,000. 

[Gawain 2,358]

Agree with JTG. No one was putting in rent money. This was dollar and a dream that one of our trashcoins becomes the next etherium or Lite.

[popeye 808]

proxy JTG seems like the play here

[WDIK2 1,078]

Not sure where to put this, but thought others here might have been using Binance as well.  Received this email from Binance on 11/23:

Quote

Dear user, as we constantly perform periodic sweeps of our existing controls, we noted that you are trying to access Binance while having identified yourself as a US person. Please note that as per our terms of use (https://www.binance.com/en/terms), we are unable to service US persons. You have 14 days to close all active positions on your account and withdraw all your funds, failing which your account will be locked. Once your account is locked, you will have to raise a customer service ticket for us to assist you further. We thank you for your continued support and apologise for any inconvenience caused.

Glad I decided to read that particular email.  I don't have a lot of $ there, but enough to not just lose or have to jump through a bunch of hoops to withdraw.  Spent about 45 minutes getting my account reset since I hadn't logged on in well over a year.  Now I'm waiting on my Coinbase account to be reset so I can transfer.

[gianmarco 29,772]

So whatever happened here?  Did we win?

[Frostillicus 14,779]

I want my money back. 

[rockaction 27,748]

Sometimes good guys don't wear bytes.

[Nathan R. Jessep 5,871]

On 11/28/2020 at 9:54 AM, WDIK2 said:

Not sure where to put this, but thought others here might have been using Binance as well.  Received this email from Binance on 11/23:

Glad I decided to read that particular email.  I don't have a lot of $ there, but enough to not just lose or have to jump through a bunch of hoops to withdraw.  Spent about 45 minutes getting my account reset since I hadn't logged on in well over a year.  Now I'm waiting on my Coinbase account to be reset so I can transfer.

Hmm, I didn't receive that email. And I just logged into my Binance last week to see what I had in there. 

[WDIK2 1,078]

2 minutes ago, Nathan R. Jessep said:

Hmm, I didn't receive that email. And I just logged into my Binance last week to see what I had in there. 

Maybe they are just trying to get rid of me since my account has been dormant for a while.   

@General Malaise  Hold onto your hat, but I'm seeing your $50 is now up to about $8.

[Getzlaf15 11,372]

xrp has more than doubled in the last 2-3 weeks

[WDIK2 1,078]

9 hours ago, Nathan R. Jessep said:

Hmm, I didn't receive that email. And I just logged into my Binance last week to see what I had in there. 

I thought you might want to look into this a little more:

https://www.theblockcrypto.com/post/85589/binance-blocking-us-users-14-day-deadline-new-email

https://coingeek.com/binance-will-lock-united-states-users-accounts-in-14-days/

https://www.coindesk.com/binance-ramps-up-crackdown-on-us-users-giving-them-14-days-to-withdraw-funds

Not sure how legit these sources are.

Edited December 1, 2020 by WDIK2

[Nathan R. Jessep 5,871]

16 hours ago, WDIK2 said:

I thought you might want to look into this a little more:

https://www.theblockcrypto.com/post/85589/binance-blocking-us-users-14-day-deadline-new-email

https://coingeek.com/binance-will-lock-united-states-users-accounts-in-14-days/

https://www.coindesk.com/binance-ramps-up-crackdown-on-us-users-giving-them-14-days-to-withdraw-funds

Not sure how legit these sources are.

this might be the caveat here (from the coindesk link):

Quote

 (not to be confused with Binance US, which is legally open to U.S. residents).

 

[Long Ball Larry 14,312]

Haven’t looked at my ethereum price probably all year and was suddenly spurred to do it this morning after seeing nyt article about black employees at coI base...pleasantly surprised

[beer 30 3,557]

Is Coinbase a legit site to use for buying/trading?

[TripItUp 4,253]

7 minutes ago, beer 30 said:

Is Coinbase a legit site to use for buying/trading?

yes

[TheDirtyWord 1,005]

I’m shocked that this thread isn’t drawing more attention considering the move Bitcoin has made over the better part of the last 3 months, and particularly over the last 2 weeks as it crossed the $20k psychological barrier and now sits at about $27k.

With the US well on its way to $30T+ debt levels as it continues to debase the dollar with unlimited stimulus...the crypto space has never been more active.

That, along with the explosion in Dentralized Finance vehicles which exploded over the summer and likely will continue to grow in offerings and relevance...this thread needs more consistent Page 1 viewing.

[shades 272]

2 hours ago, TheDirtyWord said:

I’m shocked that this thread isn’t drawing more attention considering the move Bitcoin has made over the better part of the last 3 months, and particularly over the last 2 weeks as it crossed the $20k psychological barrier and now sits at about $27k.

With the US well on its way to $30T+ debt levels as it continues to debase the dollar with unlimited stimulus...the crypto space has never been more active.

That, along with the explosion in Dentralized Finance vehicles which exploded over the summer and likely will continue to grow in offerings and relevance...this thread needs more consistent Page 1 viewing.

 

Why? There's zero Bitcoin in this thread. Why would Bitcoin moving up change anything about the junk coins owned in this thread? This thread needs to be on page 100, not page 1.

[TheDirtyWord 1,005]

17 minutes ago, shades said:

 

Why? There's zero Bitcoin in this thread. Why would Bitcoin moving up change anything about the junk coins owned in this thread? This thread needs to be on page 100, not page 1.

The market cap of the entire crypto space has increased, junk coins included.

[Keerock 5,142]

We had no BTC here?

[IC FBGCav 5,828]

12 hours ago, Keerock said:

We had no BTC here?

Nope, asked many times, it was too boring.

[jrt103 321]

On 12/19/2017 at 6:26 PM, IC FBGCav said:

This is how much I believe in crypto at this point.  

Things are all subject to change...

But we do a lotto and I will keep doing that.  

This is my guarantee.  If you put in for a share now.  It is guaranteed until 1.31.18

You will not lose anything.

Once 50 shares get donated to me by FBG, I will invest.  Each share is worth 100.00 USD.  Now.

Max shares owned is 3.   

On January 31, 2018.   You can get back your original share cost.  With or without profit.  

No additional shares will ever be issued.

Let me make u money or let me give you money.  

Works either way.  

Paypal

 

 

 

 

Assuming THIS  is still accurate, total fund is at  -82%  or 18% away from losing all value.

Just curious, how much do you believe in crypto now?

[TheDirtyWord 1,005]

15 hours ago, jrt103 said:

Assuming THIS  is still accurate, total fund is at  -82%  or 18% away from losing all value.

Just curious, how much do you believe in crypto now?

Let me weigh in here...

Back in 2017, the crypto space went thru...a phase.  In late March, BTC was at $1K.  9 months later, it had breached $19K briefly.  2017 in hindsight can also be regarded as the ICO craze, when new token offerings were simply all over the place.  A lot of these turned out to be garbage.  And the credibility of the crypto space in general went to shyte.  BTC lost 85% of it’s value 12 months after its ATH.

In the 3 years since though, there has been a lot of innovation in this space.  The adoption of Ethereum as a platform for development has exploded, and the basic constructs of decentralized finance took hold in a major way last summer.

Ultimately, the goal not only of BTC, but crypto in general is to remove the ‘middle man’ from the finance world.  Insurance, lending, yield farming...the basic concept of crypto is to build a peer-to-peer financial world.  It has a LONG LONG way to go before that comes close to being a reality...if it ever even gets there.  But there has been some tremendous progress the last three years and blockchain technology certainly seems here to stay.

I haven’t taken the time to look at the original fund promoted here...but I’m not surprised it tanked.  Much like the early internet, while there were scams...there were also notable innovation efforts whose time had just not yet come (think Webvan) for it to be monetized profitably.

Just my ...but it’s worth another look.

 

[popeye 808]

🤣

rereading the thread.  Plenty of gems but my favorite is from Cappella

"Because when you have the chance to send a few hundred bucks to a guy on the internet you've never met to buy some crypto thing that probably doesn't exist off a server that is probably grossly illegal, from people who are likely committing some kind of wire fraud, you pretty much have to do it"

[BroncoFreak_2K3 2,655]

1 hour ago, popeye said:

🤣

rereading the thread.  Plenty of gems but my favorite is from Cappella

"Because when you have the chance to send a few hundred bucks to a guy on the internet you've never met to buy some crypto thing that probably doesn't exist off a server that is probably grossly illegal, from people who are likely committing some kind of wire fraud, you pretty much have to do it"

pretty much

[JaxBill 7,153]

Thoughts on Yellen's remarks?

[Long Ball Larry 14,312]

I know there is another crypto thread but now that this site is about 25% functional for me, I will put my question here.  Feel free to link me over there if you are so inclined and able.

How do you think about future price changes, particularly for Ethereum?  I see some different projections that suggest that the most is probably around $9000.  At the same time, a few years ago, people probably would have said something like that for Bitcoin a few years and now here we are.

Is there anything inherent to each crypto that you can look at to estimate the theoretical ceiling of each one?  Is it more about other market conditions that just fuel alternative investments and speculation in general?  Is there no way?

Like I bought a small amount when ETH was at $300.  Now it has gone up 5 times in value.  I am generally predisposed to let it ride for as long as possible because it's not like i need the money, but i am trying to assess some reasonable EV percentages to figure out when it might be worth dropping out.  If the reasonable ceiling is $9000, then maybe I want to sell at 3000 or 4000.  If the reasonable ceiling is 40000 or unlimited, then i may as well just hold.  

your thoughts? 

[IC FBGCav 5,828]

We are at about 2400.  I was thinking move it all into Binance coin and hope there is another dip, then buy.

Let me know.

[IC FBGCav 5,828]

https://ibb.co/TRgQ52c

[jamny 6,686]

10 minutes ago, IC FBGCav said:

We are at about 2400.  I was thinking move it all into Binance coin and hope there is another dip, then buy.

Let me know.

Do it!

 

We're gonna be rich!

[WDIK2 1,078]

1 hour ago, IC FBGCav said:

We are at about 2400.  I was thinking move it all into Binance coin and hope there is another dip, then buy.

Let me know.

I'm good with whatever.    I'm seeing we are up ~71% on BAT.  What are you seeing?

Of course I sold all my BAT when it was half of what it is now.    Doing whatever I can for the team.

[joker 288]

Still holding my BAT, keep going up 

[IC FBGCav 5,828]

I am not in the micro, let me know what you don't want to go to bnb

[Nathan R. Jessep 5,871]

12 hours ago, IC FBGCav said:

I am not in the micro, let me know what you don't want to go to bnb

If that's the full list in your screenshot, I think BNB is as good as any of those. I say go for it. 

[IC FBGCav 5,828]

3 hours ago, Nathan R. Jessep said:

If that's the full list in your screenshot, I think BNB is as good as any of those. I say go for it. 

There's probably at least another page.

[IC FBGCav 5,828]

https://ibb.co/5M1SB28

https://ibb.co/0FzKtYN

https://ibb.co/2krw5XZ

[McBokonon 4,237]

Could always cash it out and gamble it on some penny stocks instead. 

[Nathan R. Jessep 5,871]

10 minutes ago, IC FBGCav said:

https://ibb.co/5M1SB28

https://ibb.co/0FzKtYN

https://ibb.co/2krw5XZ

I say keep BAT, ETH.. everything else can go to BNB. Just MHO

[SFBayDuck 7,468]

44 minutes ago, Nathan R. Jessep said:

I say keep BAT, ETH.. everything else can go to BNB. Just MHO

In Cav we trust. 

[jon_mx 9,596]

I have keep about half my money in Chainlink the last year.  It has been a rocket.

[Capella 32,489]

Put it all in Bitcoin ASAP 

[RC94 2,125]

Paypal is charging me $10.80 transaction fee to purchase $600 worth of bitcoin.  Do other services charge fees like that?

[Capella 32,489]

18 minutes ago, RC94 said:

Paypal is charging me $10.80 transaction fee to purchase $600 worth of bitcoin.  Do other services charge fees like that?

God no

[McBokonon 4,237]

1 hour ago, Capella said:

God no

SQ CashApp is a few cents less. Just checked Coinbase and it’s 8.81, might be less on Pro.

[Nathan R. Jessep 5,871]

5 hours ago, RC94 said:

Paypal is charging me $10.80 transaction fee to purchase $600 worth of bitcoin.  Do other services charge fees like that?

No. I can't remember where I bought some a while back, but it charged it as a cash advance  on my credit card and whatever ridiculous fee that goes with that.

[Getzlaf15 11,372]

Xrp at 1.06.   We bought it at. 90.  Lolololololol

[IC FBGCav 5,828]

30 minutes ago, Getzlaf15 said:

Xrp at 1.06.   We bought it at. 90.  Lolololololol

Just found out Binance does want US customers anymore.  Converted everything to .07x btc and requested a transfer to Binance US address using an new Zealand IP.  The nightmare continues.

[IC FBGCav 5,828]

.0778 btc