Bitcoins/Litecoins/Virtual Currencies

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Tmac

Tmac

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For example, I have a group thread with 5-6 dudes that talk politics, stonks, etc. and one of them is contantly talking about NFT's, crypto, and HODL'ing. Today I put another $2k into BTC, assuming we're in for a short-term bull run (I put in $2k at $48k as well). He was talking about HODL'ing again as I did it.

So, I ask him how much he has invested in cyrpto and he says, "Not as much as I'd like." So, I push him on it and ask how much and he replies, "$2,300". So, the guy constantly talking about investing in BTC has half as much money as I do in the thing. On top of that he makes about $20k more a year than I do.

My point being that people who see it and know it and can taste it don't put their money where their mouth is.
 
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Threelions

Threelions

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I don’t know how the government would regulate crypto or if they possibly could, but it’s clear that for the foreseeable future there are multiple coins worth a long hold position. You can see other institutions pumping millions into the currency. It’s going to be a rollercoaster of a ride at points, but money is there to be made. I’m loving it.

for the record I have about 30k between coins. I have two traditional retirement accounts, but am most excited about the crypto market
 
Threelions

Threelions

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Rajaah said:
Wonder how much BTC etc are gonna spike once stimulus checks go out this weekend. Not sure if I'll sell at all once that happens or just hang on for the ride. MANA hasn't declined at all for me to rebuy it, and just keeps going up...
Click to expand...
Glad you mentioned it pages back was able to get in around .41 or so. Incredible jump
 
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Caliane

Caliane

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Do we have any big winners here?
Did this burst, change anyones lives?

I only got in in December. which was already mid climb,, and then not all at once.

Would have.. could have.. Eth was 600.62 on my first buy. Currently, 1907. x 3.17 growth.
goddamn, if I had gone all in then..

A ton of you were in long before though.
 
Haus

Haus

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Tmac said:
Spikes in BTC of $3k that happen in a day don't come from YouTube video watchers. It comes from institutions. Every big spike that completely separates the price from its DMA (bull and bear) indiciate a big run. They keep coming. I keep thinking at some point people will be taking profits, but inflation seems to be driving more people into BTC/ETH than taking profits.

Such HODL.



The vast majority of people who live paycheck to paycheck do so bc they make terrible decisions with their money. They get in at the top of GME or BTC and then sell after they lose thousands. This stimmie will be no different. The people who save it or spend it on essentials are in the vast minority. There's a reason stonks exploded after the last round of stimmies. People at home w nothing to do and $600 extra bones in their pocket. Here we go again...



Post the charts.
Click to expand...
First, I agree with you about institutional money too now that I've had a chance to look at the days volumes and prices...

As for the charts.
www.lookintobitcoin.com

Net Unrealized Profit/Loss (NUPL) | BM Pro

Net Unrealized Profit/Loss (NUPL) is derived from market value and realised value to track investor sentiment over time for Bitcoin ($BTC).
www.lookintobitcoin.com www.lookintobitcoin.com

If you mark a line at 85% or so, and label it "Irrational exuberance" then you see how we're flirting with that right now. Over that line is the land where it starts getting more problematic if you look at it historically. We're currently firmly in "greed" and no signs of the trend going down right now. The variable which might change the historic perception on this chart is that institutional money influx. There isn't data to indicate what that will really do in the markets yet.

Yet again, I will also fully disclose that I'm a guy who is all of a month into researching and learning this, mostly leveraging my "notice a pattern" head for things. At this point it's not as immediately relevant to me as I am not one ofthose "degenerate gamblers" day trading, I'm looking at somewhere between "long term" and "HODL"
 
Tmac

Tmac

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Caliane said:
Do we have any big winners here?
Did this burst, change anyones lives?

I only got in in December. which was already mid climb,, and then not all at once.

Would have.. could have.. Eth was 600.62 on my first buy. Currently, 1907. x 3.17 growth.
goddamn, if I had gone all in then..

A ton of you were in long before though.
Click to expand...

I doubled my money by December and got out. OOF!!!

I had $4k invested at around $15k when it took off and got out at $32k.

I got back in at $48k with an additional $2k and again at this last big pop at $57k w another $2200.
 
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LachiusTZ

LachiusTZ

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I stopped buying at about 450-500 ETH.

Basis of maybe 23k.
 
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Brad

Brad

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Sold out all my remaining BTC's this morning at 61k USD each and cash went into bank within 2 hours on a Sunday. All up total fees was just $3000 AUD, no 20% fee at all.

Still have a few million other coins for longer term.

So nice not to worry about BTC flucations and already have the funds and then some for life goals.
 
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Haus

Haus

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SO I tried out awesome miner and Zergpool, and with my electric rate turns out I should actually turn a profit letting my new system chew through hashes in the background... supposedly. Crochety old Haus will not believe this until he sees a BTC deposit land.
 
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Lambourne

Lambourne

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Mining works, it just takes weeks/months to hit the minimum payout on most pools now. I did a fair bit of it a few years ago. Made about $2000 before power costs (in today's valuations) but I did leave two PCs running 24/7 for close to a year.

In response to the other topic: I had about $4k in crypto before december, turned it into 14k. Daytraded my way down to 12k, figured I should probably stop losing money and got out. It's very tempting to get back in but if this pops this week, is there anyone that can honestly say they didn't see it coming? Tether situation seems like a ticking timebomb too.

If you're not familiar, Tether got prosecuted by state of NY for not actually having the claimed reserves to back up their issue of Tether Dollars. They settled for $18.5 million and were barred from doing business in NY. As part of the settlement, they are also required to provide quarterly reports to show compliance now, which is where the timebomb comes in if they (still) don't actually have the money to back it up. Prosecuters aren't dumb, they'll maneuver you into a trap if they can't close the case first time round.

ag.ny.gov

Attorney General James Ends Virtual Currency Trading Platform Bitfinex’s Illegal Activities in New York

Click to read more.
ag.ny.gov ag.ny.gov
 
Arden

Arden

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Lambourne said:
In response to the other topic: I had about $4k in crypto before december, turned it into 14k. Daytraded my way down to 12k, figured I should probably stop losing money and got out. It's very tempting to get back in but if this pops this week, is there anyone that can honestly say they didn't see it coming?
Click to expand...
Why would it pop this week (as opposed to any other week)?
 
Zog

Zog

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If you were a gamer you would know stimmie money getting spent on video cards, weed and car parts.
 
Rajaah

Rajaah

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Threelions said:
Glad you mentioned it pages back was able to get in around .41 or so. Incredible jump
Click to expand...

Yep, I was telling people MANA seemed like the score and it blew away my expectations. I just wish I hadn't sold so early because it's at 2x what it was when I sold mine (and 5x what I bought it for). Now I have to try and figure out when to buy back in. I don't even know what "the dip" is now when it keeps going up...
 
Armadon

Armadon

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I don't know when to sell MANA or if I even should. Bought in at .18 for 1k. I don't even know why it's skyrocketting.
 
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Rajaah

Rajaah

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Caliane said:
Do we have any big winners here?
Did this burst, change anyones lives?

I only got in in December. which was already mid climb,, and then not all at once.

Would have.. could have.. Eth was 600.62 on my first buy. Currently, 1907. x 3.17 growth.
goddamn, if I had gone all in then..

A ton of you were in long before though.
Click to expand...

The thing about all of this is that it never quite makes you happy (at least in my experience so far). When something loses money for you, you feel bad / dumb for getting it. I took a bath on GME, Dogecoin, and Lordstown. Now I feel like shit for losing all that money. At the same time, the winners I've picked in cryptos/stocks, like Bitcoin, CCIV or MANA, the things that made me a bunch of money... I'm feeling slightly shit for those also because it's like "why did I invest so little instead of going in on them". Which I'll feel like no matter how much I invest, I think, unless I literally invested all available funds in the thing that took off. I diversify way too much for that to ever happen.

Either way, I feel your pain.

My main goals right now:

-Figure out how the hell to buy back into MANA

-Sell my BTC at as close to whatever this week's apex is as I can, then rebuy it during the big springtime sell-off that I think we'll be getting soon
 
Rajaah

Rajaah

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Armadon said:
I don't know when to sell MANA or if I even should. Bought in at .18 for 1k. I don't even know why it's skyrocketting.
Click to expand...

I'd hold it on an indefinite basis. I.e. a year or more. I think it's going to end up in the 500's eventually, going off of similar cryptos. It might dip for a while in the springtime if BTC does but don't panic. I'm hoping it does so I can buy back in at .40 or .50. Shame that I sold my initial buy-in which was like .20. It doesn't seem to have drops like other cryptos.

I could also be 100% wrong though, but that's what I would do
 
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fris

fris

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Lambourne said:
If you're not familiar, Tether got prosecuted by state of NY for not actually having the claimed reserves to back up their issue of Tether Dollars. They settled for $18.5 million and were barred from doing business in NY. As part of the settlement, they are also required to provide quarterly reports to show compliance now, which is where the timebomb comes in if they (still) don't actually have the money to back it up. Prosecuters aren't dumb, they'll maneuver you into a trap if they can't close the case first time round.

ag.ny.gov

Attorney General James Ends Virtual Currency Trading Platform Bitfinex’s Illegal Activities in New York

Click to read more.
ag.ny.gov ag.ny.gov
Click to expand...

This has always been what I thought would crash crypto, tether being outed as not having the cash they claim. Being a major intake for anyone wanting to buy crypto, how does this not drop the floor out from every coin?
 
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