Bitcoins/Litecoins/Virtual Currencies

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Arden

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To take profit or not to take profit... That is the question.

I eased back into crypto when it suddenly jumped up in Nov. I was pretty sure a new bull run was getting ready to start. Officially now sitting on 100-150% gains across all of my coins at this point. Conventional wisdom says I'd be crazy not to trim a bit at this point and take some profit. That said, I'm going to be patient.
 

The_Black_Log Foler

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So when’s a good time for me to starting buying bitcoin? My 19$ or so from 2019 is now 220$. I should have bought a lot more…
 
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Loser Araysar

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So when’s a good time for me to starting buying bitcoin? My 19$ or so from 2019 is now 220$. I should have bought a lot more…

About 2 years from now when it bottoms out again
 
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Intrinsic

Person of Whiteness
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TRU had a little bump and with ETH trending back up again I’m back at even $10k from a couple years ago. No idea how to even offload stuff these days or just trade for a stable coin and then move it out.

Not that I will, of course. I’ll just watch it all go back down to $4k.
 

TomServo

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I am currently holding BTC in an IRA account. However, this account is secured via 2 factor authentication app. My understanding is that these are nigh impossible to get around. Probably asking for trouble, I know.
SMS or app on phone with code or push?
 

Caliane

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So when’s a good time for me to starting buying bitcoin? My 19$ or so from 2019 is now 220$. I should have bought a lot more…
now. but don't all in. dollar cost average in.
eth and bitcoin are the frontrunners. both at all time highs right now..
Bitcoin halvings have consistently sparked runs, and all time highs. we haven't actually even had the halving yet. its in april.
so, by mid april, btc COULD be hitting 100k, or even 200k.. could. maybe.

it'll spike and come back down to a more stable price. What is the spike peak and what will that stable price be???? well isn't that the million dollar question?

you could buy now, try to time that peak for massive profit... good luck.
You could buy now, and cross fingers on the new stable price being above 70k, 6months from now, and go on for the next4 years. that... might actually happen. but still a gamble.
or, you could just buy 100$ /week/month and trust that over the next 4 years+ the price will on average continue to rise. which it has for its entire life.
 
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OU Ariakas

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now. but don't all in. dollar cost average in.
eth and bitcoin are the frontrunners. both at all time highs right now..
Bitcoin halvings have consistently sparked runs, and all time highs. we haven't actually even had the halving yet. its in april.
so, by mid april, btc COULD be hitting 100k, or even 200k.. could. maybe.

it'll spike and come back down to a more stable price. What is the spike peak and what will that stable price be???? well isn't that the million dollar question?

you could buy now, try to time that peak for massive profit... good luck.
You could buy now, and cross fingers on the new stable price being above 70k, 6months from now, and go on for the next4 years.
or, you could just buy 100$ /week/month and trust that over the next 4 years+ the price will on average continue to rise. which it has for its entire life.

Dollar cost averaging into Crypto seems to go against the spirit of the movement.
 

Caliane

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of what? gambling?

or do you mean like ethical/philosophical aspects of crypto? the hedge against inflation, betting against the dollar, libertarian control of money without government control, trustless system, decentralization, use of crypto as an actual currency?
the only one I can imagine there is the idea of DCA being purely an investment strategy, as opposed to something you'd do if you actually intended to use crypto as a proper currency.

The ignorant rejection of NTFs, and total lack of any adoption of crypto in actual use cases has shaken my faith quite a bit.
one of the roofers I got a quote from a couple years ago was accepting btc. I didn't end up using him, or paying with crypto either.
who in their right mind would even use btc as a currency when its price just goes up? inflation is not actually a bug, its a feature. out of control inflation is a problem. but limited inflation encourages you to spend the currency, not sit on it scrooge mcduck money bin style. money that has inflations is best invested in businesses, to make returns.
crypto has a major scrooge mcduck problem.
 

Flobee

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of what? gambling?

or do you mean like ethical/philosophical aspects of crypto? the hedge against inflation, betting against the dollar, libertarian control of money without government control, trustless system, decentralization, use of crypto as an actual currency?
the only one I can imagine there is the idea of DCA being purely an investment strategy, as opposed to something you'd do if you actually intended to use crypto as a proper currency.

The ignorant rejection of NTFs, and total lack of any adoption of crypto in actual use cases has shaken my faith quite a bit.
one of the roofers I got a quote from a couple years ago was accepting btc. I didn't end up using him, or paying with crypto either.
who in their right mind would even use btc as a currency when its price just goes up? inflation is not actually a bug, its a feature. out of control inflation is a problem. but limited inflation encourages you to spend the currency, not sit on it scrooge mcduck money bin style. money that has inflations is best invested in businesses, to make returns.
crypto has a major scrooge mcduck problem.
Your faith in "NFTs and crypto" should be shaken, its scam garbage. Welcome to the party.

Your belief that inflation is good because it creates spending is fundamentally flawed, and its one of the core reasons everything is so broken right now (rejection of our Christian roots in the West being the other). This belief is fundamental to Keynesian economics as it is used today (Quite different then how Keynes intended for what its worth). The reason you, correctly, believe that it would be stupid to spend BTC is due to Gresham's Law which basically states why would you spend valuable money (BTC) when you can spend crappy money (USD). Hard money completely transforms the psychology of a population, you're not going to spend hard money on crappy plastic Chinese garbage, your only going to spend it on high quality goods. That is not a bad thing no matter how much your economics professor told you it was. Humanity has been on a hard money standard for it -entire- history up until quite recently (at least 1971 with the closing of the gold window but potentially as far back as 1913 with the formation of the Federal Reserve depending on how you want to define it).

If we were to move to a world with Bitcoin as the backing for international currency, what you would see is that the price of -everything- would decrease over time. This is actually how it would work naturally. As technology advances it makes things cheaper to create or do. As such the COST of doing those things should decrease. You can't do that with an inflationary currency though so everything gets more expensive forever even as we become for "advanced". This is compounded by the ability for a small group of people to print the very currency that the rest of the population has to work for.

I'll leave it there, people will only horde their "Scroge McDuck" money until the bad money is driven out and the good money replaces it. This is part of a transition from one system to another psychologically, not a attribute of the good money in question.

Also next time someone is willing to accept Bitcoin for service, you should totally do it (assuming they're any good). Just buy the Bitcoin on something like Strike or Cashapp and send it to them immediately, its no different than spending USD from your perspective, but they get to live on a Bitcoin standard which is the whole goal.
 
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The_Black_Log Foler

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Your faith in "NFTs and crypto" should be shaken, its scam garbage. Welcome to the party.

Your belief that inflation is good because it creates spending is fundamentally flawed, and its one of the core reasons everything is so broken right now (rejection of our Christian roots in the West being the other). This belief is fundamental to Keynesian economics as it is used today (Quite different then how Keynes intended for what its worth). The reason you, correctly, believe that it would be stupid to spend BTC is due to Gresham's Law which basically states why would you spend valuable money (BTC) when you can spend crappy money (USD). Hard money completely transforms the psychology of a population, you're not going to spend hard money on crappy plastic Chinese garbage, your only going to spend it on high quality goods. That is not a bad thing no matter how much your economics professor told you it was. Humanity has been on a hard money standard for it -entire- history up until quite recently (at least 1971 with the closing of the gold window but potentially as far back as 1913 with the formation of the Federal Reserve depending on how you want to define it).

If we were to move to a world with Bitcoin as the backing for international currency, what you would see is that the price of -everything- would decrease over time. This is actually how it would work naturally. As technology advances it makes things cheaper to create or do. As such the COST of doing those things should decrease. You can't do that with an inflationary currency though so everything gets more expensive forever even as we become for "advanced". This is compounded by the ability for a small group of people to print the very currency that the rest of the population has to work for.

I'll leave it there, people will only horde their "Scroge McDuck" money until the bad money is driven out and the good money replaces it. This is part of a transition from one system to another psychologically, not a attribute of the good money in question.

Also next time someone is willing to accept Bitcoin for service, you should totally do it (assuming they're any good). Just buy the Bitcoin on something like Strike or Cashapp and send it to them immediately, its no different than spending USD from your perspective, but they get to live on a Bitcoin standard which is the whole goal.
So do I wanna dollar cost average it or what?
 
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TJT

Mr. Poopybutthole
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now. but don't all in. dollar cost average in.
eth and bitcoin are the frontrunners. both at all time highs right now..
Bitcoin halvings have consistently sparked runs, and all time highs. we haven't actually even had the halving yet. its in april.
so, by mid april, btc COULD be hitting 100k, or even 200k.. could. maybe.

it'll spike and come back down to a more stable price. What is the spike peak and what will that stable price be???? well isn't that the million dollar question?

you could buy now, try to time that peak for massive profit... good luck.
You could buy now, and cross fingers on the new stable price being above 70k, 6months from now, and go on for the next4 years. that... might actually happen. but still a gamble.
or, you could just buy 100$ /week/month and trust that over the next 4 years+ the price will on average continue to rise. which it has for its entire life.
I'll be cashing out my Eth here soon. I am currently sitting on ~$25k in Bitcoin profits that I want to hold until this halving event gets closer. I have ~$15k in eth profits to cash out on which I will probably do this week after we see how far it gets into the $4k range.
 
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Flobee

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That depends on how you want to play it. Nobody can predict the future so can't tell you for sure what the best move is. If you think we're going to move big to the upside in the short term then its probably smarter to lump sum in. Personally if I had a $0 allocation right now though, I'd probably DCA in as we just popped a new ATH today. I tend to think we'll probably go a fair amount higher over the next 1.5 years or so due to historical movements around the halving and all the tailwinds BTC has right now... but I don't know for sure, and buying lump sum and immediately being in the red if it dumps hard is going to make you feel pretty awful. Really just depends on your risk tolerance.

I would however suggest you only buy if you're willing to hold for 4+ years. No one has EVER held BTC for 4 years and lost money.

1710153973241.png
 
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Palum

what Suineg set it to
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That depends on how you want to play it. Nobody can predict the future so can't tell you for sure what the best move is. If you think we're going to move big to the upside in the short term then its probably smarter to lump sum in. Personally if I had a $0 allocation right now though, I'd probably DCA in as we just popped a new ATH today. I tend to think we'll probably go a fair amount higher over the next 1.5 years or so due to historical movements around the halving and all the tailwinds BTC has right now... but I don't know for sure, and buying lump sum and immediately being in the red if it dumps hard is going to make you feel pretty awful. Really just depends on your risk tolerance.

I would however suggest you only buy if you're willing to hold for 4+ years. No one has EVER held BTC for 4 years and lost money.

View attachment 519188

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The_Black_Log Foler

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I'll be cashing out my Eth here soon. I am currently sitting on ~$25k in Bitcoin profits that I want to hold until this halving event gets closer. I have ~$15k in eth profits to cash out on which I will probably do this week after we see how far it gets into the $4k range.
What is your % total gain over the period of this holding? Curious how it stacks up against sp500
 

TJT

Mr. Poopybutthole
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What is your % total gain over the period of this holding? Curious how it stacks up against sp500
106% on Bitcoin and 80% on Eth. I stopped buying Eth over a year ago and only bought Bitcoin since then. Once i get out of Eth I don't think I'll mess around with other coins for awhile.
 
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Flobee

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This was pretty good. I think Saylor kind of has to take the angle he takes here regarding medium-of-exchange status for Bitcoin, and he might even be right. Even if Bitcoin stays as a store-of-value for its entire existence it is still a pretty fantastic value proposition at this point.

 
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Tuco

I got Tuco'd!
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The ignorant rejection of NTFs, and total lack of any adoption of crypto in actual use cases has shaken my faith quite a bit.
I've been a bit disappointed that crypto hasn't become an effective way to make transactions. I don't even know how hard it'd be to trade BTC for a pizza in 2024, or if a website like Coinbase has a "centralized BTC trading" mechanism that would transfer "extra virtual BTC" very fast.
 
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Flobee

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I've been a bit disappointed that crypto hasn't become an effective way to make transactions.
Making payments with Bitcoin is trivial. Install Strike or Cashapp, set up ACH, scan payment QR code, send BTC. Done. It will pull $$$ from checking account, convert, and send. Saying its hard because you've never done it is foolish, its not hard at all
 
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