Cavalier Crypto 101

[IC FBGCav 5,712]

GM is very concerned about this after all these years and wants to know what happened so I will try to help.

I would start by reading the thread.  It will be an invaluable resource.  

Crypto went up, no one wanted to sell.

Crypto when down, nothing to sell.

I didn't sell any holding that wasn't posted here.  Everything is still in the wallets or exchanges if they still exist.  

Jersey will get controll of everything by the end of the weekend hopefully.  

There you go.  Do we need to answer CYDY questions too when everything is posted about that too?

[General Malaise 27,269]

9 minutes ago, IC FBGCav said:

GM is very concerned about this after all these years and wants to know what happened so I will try to help.

I would start by reading the thread.  It will be an invaluable resource.  

Crypto went up, no one wanted to sell.

Crypto when down, nothing to sell.

I didn't sell any holding that wasn't posted here.  Everything is still in the wallets or exchanges if they still exist.  

Jersey will get controll of everything by the end of the weekend hopefully.  

There you go.  Do we need to answer CYDY questions too when everything is posted about that too?

Sorry Cav.  Got a little drunk last night and decided to run my mouth when I shouldn't have.  You did nothing wrong.  I'm a jackass and I have no further questions.

I'd like my $5.75 in twos, singles and nickels please Jersey.

[JerseyToughGuys 3,149]

8 minutes ago, General Malaise said:

Sorry Cav.  Got a little drunk last night and decided to run my mouth when I shouldn't have.  You did nothing wrong.  I'm a jackass and I have no further questions.

I'd like my $5.75 in twos, singles and nickels please Jersey.

Ya, I am going to organize this. Someone else can mess with payouts. 

[JerseyToughGuys 3,149]

In a nutshell, we bought at the top of the cycle. That cycle is a bit evergreen, and will come back around. Most of the stuff we hold is ####, some is not. A few might bounce at the end of the current cycle. 

5 dollars could be 10 dollars in no time!

Edited November 18, 2020 by JerseyToughGuys

[Psychopav 1,156]

15 hours ago, Jefferson the Caregiver said:

I'm not sure we actually own any bitcoin, looks like a lot of deepbrainchain, linda, dragonchain and other altcoins that are worth fractions of a penny

Sure, TODAY maybe.

But just you wait...

[General Malaise 27,269]

2 hours ago, JerseyToughGuys said:

In a nutshell, we bought at the top of the cycle. That cycle is a bit evergreen, and will come back around. Most of the stuff we hold is ####, some is not. A few might bounce at the end of the current cycle. 

5 dollars could be 10 dollars in no time!

Then.........LET IT RIDE!!!!!!!!!!!!!!!!!!!!!!!!!1111111

[IC FBGCav 5,712]

First off, all the coins are where they were.  I wrote down instructions for my wife in case I died on how to access the a long time ago.  I seen the instructions in my safe a few times looking for other things so I know they are there.  I also remember thinking man this isn't going to be easy for her or me.  But I will get it done.

I also am truly sorry this crap went bust.  I love to give to people here and not to take from you all.  So I apologize for leading you down this path.

When bitcoin was at 3 to 5k.  Our stuff was less than 500 bucks or so.  I am sure there was some discussion in the thread of selling everything for btc.  For most coins the fees to exchange were more than the coins.   

Finally thanks to @JerseyToughGuysfor helping, I asked many times to silence.

 

 

[Psychopav 1,156]

15 hours ago, IC FBGCav said:

First off, all the coins are where they were.  I wrote down instructions for my wife in case I died on how to access the a long time ago.  I seen the instructions in my safe a few times looking for other things so I know they are there.  I also remember thinking man this isn't going to be easy for her or me.  But I will get it done.

I also am truly sorry this crap went bust.  I love to give to people here and not to take from you all.  So I apologize for leading you down this path.

When bitcoin was at 3 to 5k.  Our stuff was less than 500 bucks or so.  I am sure there was some discussion in the thread of selling everything for btc.  For most coins the fees to exchange were more than the coins.   

Finally thanks to @JerseyToughGuysfor helping, I asked many times to silence.

 

 

Hey I "lost" (hope spring eternal!) a bit here but it really wasn't much more than I would normally risk hoping to make a relatively small profit at a casino, and the potential payoff was much larger.  No worries at all, I for one appreciate your volunteer efforts.  Thank you!!

 

eta: One other thought:  the entertainment value is still paying dividends, as evidenced by the fact that the first thing I did when I saw the bitcoin rising story on my newsfeed was to search for this thread and see if I could get the spreadsheet to pull up.  Someday, we'll all be filthy rich off this endeavor.  Until then, we play...the waiting game...

Edited November 19, 2020 by Psychopav

[jrt103 296]

6 hours ago, Psychopav said:

  Someday, we'll all be filthy rich off this endeavor.  Until then, we play...the waiting game...

Can you give me a ballpark on when this might occur?  Trying to decide if I need to go to work tomorrow or not.

[Nathan R. Jessep 5,775]

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

[arrow1 937]

18 hours ago, Nathan R. Jessep said:

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

[shades 270]

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 2,251]

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 3,149]

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 3,149]

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 2,251]

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 756]

proxy JTG seems like the play here

[WDIK2 1,004]

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 28,539]

So whatever happened here?  Did we win?

[Frostillicus 14,183]

I want my money back. 

[rockaction 25,088]

Sometimes good guys don't wear bytes.

[Nathan R. Jessep 5,775]

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 1,004]

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 10,932]

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

[WDIK2 1,004]

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 5,775]

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 14,295]

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 3,417]

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

[TripItUp 4,111]

7 minutes ago, beer 30 said:

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

yes

[TheDirtyWord 974]

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 270]

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 974]

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 5,065]

We had no BTC here?

[IC FBGCav 5,712]

12 hours ago, Keerock said:

We had no BTC here?

Nope, asked many times, it was too boring.

[jrt103 296]

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 974]

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 756]

🤣

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 2,591]

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 6,837]

Thoughts on Yellen's remarks?

[Long Ball Larry 14,295]

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 5,712]

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 5,712]

https://ibb.co/TRgQ52c

[jamny 6,506]

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 1,004]

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 287]

Still holding my BAT, keep going up 

[IC FBGCav 5,712]

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

[Nathan R. Jessep 5,775]

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 5,712]

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 5,712]

https://ibb.co/5M1SB28

https://ibb.co/0FzKtYN

https://ibb.co/2krw5XZ

[McBokonon 3,317]

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