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Direct Laryngoscopy said:
Not much incentive for us now, but things happen change quickly. In El Salvador there’s incentive to use BTC by giving upwards of a 30% discount on purchases. Merchants might be realizing that deflation is happening in that country. Might be better to hold bitcoin vs a currency that decreases the purchasing power ($USD).
Click to expand...
What is the discount if you use USD there? It could only mean their currency sucks.
 
pgg said:
I just think it's funny that y'all had a collective cryptogasm when El Salvador or wherever it was said they were going to accept bitcoin, but a billion and a half people in the most controlling and surveilled intrusive police state on the planet (except perhaps Best Korea) can't use it without risking whatever it is China does to its misbehaving peasants and it's officially good news for bitcoin.
Click to expand...

You’re right China banning It was good news. I hope they ban it some more!
 
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nimbus said:
news.bitcoin.com

Financial Advisors Managing $110 Trillion Can Now Offer Crypto Trading to Clients via Interactive Brokers – Featured Bitcoin News

Registered investment advisors (RIAs) with about $110 trillion under management can now offer their clients cryptocurrency trading through Interactive Brokers. RIAs manage portfolios of almost 61 million clients.
news.bitcoin.com news.bitcoin.com
Click to expand...
If those managers allocate just 1% of their clients' portfolios into crypto, that's a whopping 40% of the current total market cap of crypto. We're still early.
 
https://www.coindesk.com/business/...rs-pension-fund-makes-bitcoin-ether-purchase/

A pension fund for firefighters in Houston has made a purchase in bitcoin and ether facilitated by bitcoin investment firm NYDIG.

The Houston Firefighters’ Relief and Retirement Fund’s (HFRRF) purchase marks the first time a public pension plan in the U.S. has announced an investment in digital assets, according to an announcement Thursday.
The fund has invested $25 million in bitcoin and ether, though it has not disclosed how this is split between the two. The fund holds over $4 billion in total assets, according to Bloomberg.
“I see this as another tool to manage my risk,” Bloomberg quoted Ajit Singh, the chief investment officer for fund, as saying. “It has a positive expected return, and it manages my risk. It has a low correlation to every other asset class.”
The investment was made via bitcoin investment firm NYDIG, which is providing the custody for the crypto purchased.
The HFRRF membership is composed of 6,600 active and retired firefighters and their families. Since 2004, active firefighters have contributed 9% of their salary to the fund, with the City of Houston required to contribute at least double that amount by state statue.
Read more: New Jersey Pension Invested $7M in Bitcoin Mining Stocks Last Quarter

UPDATE (Oct. 21, 14:45 UTC): Updated with information and quotes in the second and third bullet points.

Pension funds now entering the space.
 
banister said:
Because I prefer wealth. Imagine cashing out of Apple or Google after it 2xed after IPO.

Here's a more nuanced response:

1) I honestly believe in the technology, and also believe there's much more room for it to grow. I'm even putting more in every month. I'm especially optimistic with smart contracts on the blockchain, i.e., ethereum + other smart contract L1s. I went through the process of a HELOC last year. It took me over a month to get access to those funds. In the ethereum platform, I can take a 50% LTV loan on my holdings in 5 minutes without any personal information being given out. Plus, mainstream fintech companies are exploring this space deeply (Visa, Mastercard, Paypal, Stripe, Square, Robinhood, Shopify, Fidelity, plus much more).

2) I don't need to. I live more than comfortably with my family's current earnings outside of crypto. Plus, if I really need to, I could take an aforementioned loan out to "cash out".
Click to expand...
What do you use for your crypto loans? I've been pretty happy with nexo, also feel the native token has more room for growth.
 
Investors who are bullish on cryptocurrencies are betting more on the digital assets than stocks.

In September, crypto investors put an average of $263 into accounts dedicated to coins, more than the average $250 they put in traditional brokerages during the month, according to a recent survey from Cardify.

“Month over month, the amount that users are putting into either crypto or traditional investments have shifted,” said Amber Foucault, head of product at Cardify. So far this year, nearly 25% of the money that investors are putting away is going to cryptocurrencies, a big jump from 5% last year, she added.


www.cnbc.com

Some investors are putting more money into cryptocurrencies than stocks

A survey of cryptocurrency investors found that many of them are now investing more money in the digital assets than they're putting in traditional brokerages.
www.cnbc.com www.cnbc.com
 
BLADEMDA said:
Investors who are bullish on cryptocurrencies are betting more on the digital assets than stocks.

In September, crypto investors put an average of $263 into accounts dedicated to coins, more than the average $250 they put in traditional brokerages during the month, according to a recent survey from Cardify.

“Month over month, the amount that users are putting into either crypto or traditional investments have shifted,” said Amber Foucault, head of product at Cardify. So far this year, nearly 25% of the money that investors are putting away is going to cryptocurrencies, a big jump from 5% last year, she added.


www.cnbc.com

Some investors are putting more money into cryptocurrencies than stocks

A survey of cryptocurrency investors found that many of them are now investing more money in the digital assets than they're putting in traditional brokerages.
www.cnbc.com www.cnbc.com
Click to expand...

I would be surprised if the major coins have not doubled from today's value by 2025 esp if pensions are getting in. But 4 years for something to double isn't that great of a return esp with the risk this class has.
 
finalpsychyear said:
I would be surprised if the major coins have not doubled from today's value by 2025 esp if pensions are getting in. But 4 years for something to double isn't that great of a return esp with the risk this class has.
Click to expand...


I would be pretty disappointed if it took 4 years to double.
 
Okay so after being too scared to buy any crypto since July, I'm ready to buy more now that BTC hit a new all time high LoL. This probably means crypto will come crashing down now that I'm getting FOMO.

What's a good entry for SOL, DOT and ATOM? Should I DCA every week no matter what price? I plan to stake them on Kraken.

My portfolio is:
23.5 ETH
907 ADA
5.4k ZIL
14.3k SHIB
 
mentos said:
Okay so after being too scared to buy any crypto since July, I'm ready to buy more now that BTC hit a new all time high LoL. This probably means crypto will come crashing down now that I'm getting FOMO.

What's a good entry for SOL, DOT and ATOM? Should I DCA every week no matter what price? I plan to stake them on Kraken.

My portfolio is:
23.5 ETH
907 ADA
5.4k ZIL
14.3k SHIB
Click to expand...
14.3k SHIB, isn't that like 50 cents worth?
 
mentos said:
Okay so after being too scared to buy any crypto since July, I'm ready to buy more now that BTC hit a new all time high LoL. This probably means crypto will come crashing down now that I'm getting FOMO.

What's a good entry for SOL, DOT and ATOM? Should I DCA every week no matter what price? I plan to stake them on Kraken.

My portfolio is:
23.5 ETH
907 ADA
5.4k ZIL
14.3k SHIB
Click to expand...

Don't stake on the exchange. Aside from the "not your keys, not your coins" argument, they're skimming yield off of you. Atom staked via Cosmostation or Keplr wallets will yield 10%. The exchange is likely only giving you 4-6%, and you cannot do other things with it (governance, liquidity pools, etc). Ada through any of the regular stake pools should give ~5%, and more can be had by voting via Catalyst.
 
psychbender said:
Don't stake on the exchange. Aside from the "not your keys, not your coins" argument, they're skimming yield off of you. Atom staked via Cosmostation or Keplr wallets will yield 10%. The exchange is likely only giving you 4-6%, and you cannot do other things with it (governance, liquidity pools, etc). Ada through any of the regular stake pools should give ~5%, and more can be had by voting via Catalyst.
Click to expand...
DOT yields 12% on Kraken...
 
psychbender said:
Don't stake on the exchange. Aside from the "not your keys, not your coins" argument, they're skimming yield off of you. Atom staked via Cosmostation or Keplr wallets will yield 10%. The exchange is likely only giving you 4-6%, and you cannot do other things with it (governance, liquidity pools, etc). Ada through any of the regular stake pools should give ~5%, and more can be had by voting via Catalyst.
Click to expand...

Kraken seems to have good rates.

DOT, KSM 12%
ADA 4-6%
SOL 6.5%
ATOM 7%
ETH 5-7%

I'm trying to cut down on how many open accounts I have, I like having everything in one place.
 
mentos said:
Okay so after being too scared to buy any crypto since July, I'm ready to buy more now that BTC hit a new all time high LoL. This probably means crypto will come crashing down now that I'm getting FOMO.

What's a good entry for SOL, DOT and ATOM? Should I DCA every week no matter what price? I plan to stake them on Kraken.

My portfolio is:
23.5 ETH
907 ADA
5.4k ZIL
14.3k SHIB
Click to expand...
Why waste mental energy on 400 dollars worth of anything. I frankly don’t know why people own less than 1% of their net worth in any asset. If it’s worth buying, it’s worth buying 1% worth. Buffet has a good rant on this. He says if you have a list of possible investments that look good to you, why would you put money into #50 instead of #1-20?
 
<(^_^)> said:
Why waste mental energy on 400 dollars worth of anything. I frankly don’t know why people own less than 1% of their net worth in any asset. If it’s worth buying, it’s worth buying 1% worth. Buffet has a good rant on this. He says if you have a list of possible investments that look good to you, why would you put money into #50 instead of #1-20?
Click to expand...

I know people who got into dogecoin when it was fractions of a cent and now worth way more.
 
GassYous said:
I know people who got into dogecoin when it was fractions of a cent and now worth way more.
Click to expand...
Imagine if they put >1% of their net worth in then. If you throw a couple hundred bucks at some crypto, and explicitly don’t think it’s worth putting up >1% of your net worth into it, you are not investing. You are gambling. And sometimes gamblers win. And sometimes they don’t.
 
<(^_^)> said:
Why waste mental energy on 400 dollars worth of anything. I frankly don’t know why people own less than 1% of their net worth in any asset. If it’s worth buying, it’s worth buying 1% worth. Buffet has a good rant on this. He says if you have a list of possible investments that look good to you, why would you put money into #50 instead of #1-20?
Click to expand...

You are right. SHIB is a gamble, not an investment. It's pretty useless. So I started with $1000 in one account and lost $900 of it trying to swing ****coins from April to September. I considered the last $100 gone and threw it into SHIB, now it's worth $537. I'm actually pretty happy I got some of it back haha. I've learned to buy and hold and only risked a few hundred dollars for this lesson.

I only had ETH before, then opened positions in ADA, ZIL and SOL this past week. I will keep adding a few hundred each paycheck to SOL, DOT, ADA, and ATOM for my stake and chill account.
 
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RadOncDoc21 said:
Speaking of Buffett:

www.businessinsider.com

Warren Buffett dismissed bitcoin as a worthless delusion and 'rat poison squared.' Here are his 16 best quotes about crypto.

Buffett has repeatedly warned against buying crypto, cautioning the industry attracts charlatans who see a chance to exploit people's greed.
www.businessinsider.com www.businessinsider.com
Click to expand...
Well to be fair his rule is don’t invest in what you don’t understand. It could be prudent to add a “don’t comment on what you don’t understand” but people never stop asking him for comments on crypto. Despite having a good amount of crypto I can’t disagree its value is largely unproven, but that doesn’t mean it doesn’t have value. Picasso paintings have plenty of value and virtually 0 functionality other than “they are rare”. You can get a hyper realistic print of a Picasso for 1/1,000-1/10,000 the price of an original.

Crypto is much closer to rare collectibles than stocks, which is why buffet dislikes crypto.
 
RadOncDoc21 said:
Speaking of Buffett:

www.businessinsider.com

Warren Buffett dismissed bitcoin as a worthless delusion and 'rat poison squared.' Here are his 16 best quotes about crypto.

Buffett has repeatedly warned against buying crypto, cautioning the industry attracts charlatans who see a chance to exploit people's greed.
www.businessinsider.com www.businessinsider.com
Click to expand...

I would have a lot more respect for his opinions if he actually took the time to research cryptocurrencies before taking a stance on it, but I guess this is peak Americanism. Even those statements are coming from a position of [self-admitted] willful ignorance, almost like asking a psychiatrist what they think about GETA versus regional for total knee arthroplasties. Who cares?
 
OTCAwesome said:
What do you use for your crypto loans? I've been pretty happy with nexo, also feel the native token has more room for growth.
Click to expand...
I personally use Maker DAO's overcollateralized lending platform (Oasis.app) to deposit my super long term holds (ETH) and take out loans in DAI (1$ stablecoin). It's one of the oldest and battle tested DeFi protocols out there.

I also use Alchemix - The Future Yield Tokenization Protocol, a newer DeFi protocol that also allows you to take a loan that will automatically repay itself
 
KEY POINTS
  • Anthony Scaramucci argues anyone who studies bitcoin carefully and understands the cryptocurrency will be convinced of its potential.
  • “Anybody that does the homework … ends up investing into it. Look at Ray Dalio, a bitcoin skeptic, now a bitcoin investor,” he said.
  • Separately, Scaramucci said the special purpose acquisition company linked to former President Donald Trump is “obviously a meme stock” at the moment.

www.cnbc.com

Those who do their homework end up investing in bitcoin, Scaramucci says

Anyone who studies bitcoin carefully and understands the cryptocurrency will be convinced of its potential, said hedge fund investor Anthony Scaramucci.
www.cnbc.com www.cnbc.com


Scaramucci said he sees bitcoin as “digital gold” and has “over $1 billion” in bitcoin, which he started accumulating last year. His firm announced a partnership last month that accelerates its move into the cryptocurrency world
 
BLADEMDA said:
KEY POINTS
  • Anthony Scaramucci argues anyone who studies bitcoin carefully and understands the cryptocurrency will be convinced of its potential.
  • “Anybody that does the homework … ends up investing into it. Look at Ray Dalio, a bitcoin skeptic, now a bitcoin investor,” he said.
  • Separately, Scaramucci said the special purpose acquisition company linked to former President Donald Trump is “obviously a meme stock” at the moment.

www.cnbc.com

Those who do their homework end up investing in bitcoin, Scaramucci says

Anyone who studies bitcoin carefully and understands the cryptocurrency will be convinced of its potential, said hedge fund investor Anthony Scaramucci.
www.cnbc.com www.cnbc.com


Scaramucci said he sees bitcoin as “digital gold” and has “over $1 billion” in bitcoin, which he started accumulating last year. His firm announced a partnership last month that accelerates its move into the cryptocurrency world
Click to expand...

Scaramucci????? Is he still profiting off his 10 days working in the White House???
 
https://www.reuters.com/business/f...-hold-crypto-assets-fdic-chairman-2021-10-26/

LAS VEGAS, Oct 26 (Reuters) - A top U.S. bank regulator said U.S. officials are looking to provide a clearer path for banks and their clients that are looking to hold cryptocurrencies, in order to keep control over the fast-developing asset.

Jelena McWilliams, who chairs the Federal Deposit Insurance Corporation, told Reuters in an interview on Monday that a team of U.S. bank regulators is trying to provide a roadmap for banks to engage with crypto assets.

That could include clearer rules over holding cryptocurrency in custody to facilitate client trading, using them as collateral for loans, or even holding them on their balance sheets like more traditional assets.

"I think that we need to allow banks in this space, while appropriately managing and mitigating risk," she said in an interview on the sidelines of a fintech conference.

"If we don't bring this activity inside the banks, it is going to develop outside of the banks. ... The federal regulators won't be able to regulate it."

McWilliams' comments provide the fullest picture yet of what regulators are exploring as part of a cryptocurrency "sprint" team first announced in May. The goal of the team was to ensure cryptocurrency policy coordination among the three main U.S. bank regulators - FDIC, Federal Reserve and Office of the Comptroller of the Currency.

The rapid emergence of cryptocurrency has led to a murky regulatory picture in the United States. Under previous leadership, the OCC took an aggressive approach to bringing cryptocurrency into banks, including blessing bank custody services for cryptocurrency, while other agencies were slower to act.

Those decisions are now under review, according to acting Comptroller Michael Hsu.

Some banks have already begun dabbling in these areas without regulatory clarity. Earlier this month, U.S. Bancorp (USB.N) announced it was launching a cryptocurrency custody service for institutional investment managers.

But comments from McWilliams, a Republican holdover from the Trump administration, suggests regulators are still seeking a way to incorporate cryptocurrency into traditional bank oversight.

"My goal in this interagency group is to basically provide a path for banks to be able to act as a custodian of these assets, use crypto assets, digital assets as some form of collateral," McWilliams said on a conference panel.

"At some point in time, we're going to tackle how and under what circumstances banks can hold them on their balance sheet."

McWilliams acknowledged the challenges.

The easiest issue would be getting regulators to lay out a roadmap for providing custody to crypto assets, she said. However, it is difficult to figure out how to allow the volatile asset as collateral and include it on bank balance sheets, she added.

"The issue there is ... valuation of these assets and the fluctuation in their value that can be almost on a daily basis," McWilliams said. "You have to decide what kind of capital and liquidity treatment to allocate to such balance sheet holdings."

Reporting by Echo Wang; Writing by Pete Schroeder; Editing by Megan Davies and Richard Chang
Our Standards: The Thomson Reuters Trust Principles.

The Banks didn’t want you touching crypto, now they wanna hold them for you.
 
Signature Bank has been the forefront of crypto amongst regional banks as far as I can tell
 
Anyone have SHIB? It just passed doge, USDcoin, DOT and XRP in market cap. It's going to pass SOL and ADA at this rate.
 
mentos said:
Anyone have SHIB? It just passed doge, USDcoin, DOT and XRP in market cap. It's going to pass SOL and ADA at this rate.
Click to expand...
I *had* 105M SHIB… held it for several months… wasn’t doing much, so I got bored and sold it all… on September 16th, roughly 2 weeks before it started pumping 🤦‍♂️
(Pic for proof)
 

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Morgan Creek Capital Management’s Mark Yusko is aiming even higher.

The investment management firm’s founder and chief investment officer predicts the cryptocurrency could reach $250,000 within five years. He says the key is it’s so much more than just a token of value –something he believes many investors overlook and underestimate.


 
Where are you guys staking your BTC? Finally opened a small position at 59k.

My stake and chill portfolio:
ETH
BTC
ADA
DOT
ATOM

I'll add to this every paycheck regardless of the price. Goal is to hold until 2030.
 
Question about taxes, how the heck do we do them? I probably did hundreds of small transactions this year on various exchanges, but they don't tell you your average or cost basis.

If I buy some crypto each paycheck and sell in ten years, am I supposed to keep track of every purchase price and date along the way?
 
mentos said:
Question about taxes, how the heck do we do them? I probably did hundreds of small transactions this year on various exchanges, but they don't tell you your average or cost basis.

If I buy some crypto each paycheck and sell in ten years, am I supposed to keep track of every purchase price and date along the way?
Click to expand...
There are a couple crypto tax prep websites which will take the transaction exports from your exchange (or wallet address) and provide a file that TurboTax can import.
 
maxxor said:
There are a couple crypto tax prep websites which will take the transaction exports from your exchange (or wallet address) and provide a file that TurboTax can import.
Click to expand...


This one is by Coinbase


www.cointracker.io

Bitcoin Taxes, Crypto Portfolio & Prices | CoinTracker

CoinTracker is the most trusted Bitcoin Tax Software and Crypto Portfolio Manager. Automatically connect Coinbase, Binance, and all other exchanges & wallets.
www.cointracker.io www.cointracker.io
 
nimbus said:
This one is by Coinbase


www.cointracker.io

Bitcoin Taxes, Crypto Portfolio & Prices | CoinTracker

CoinTracker is the most trusted Bitcoin Tax Software and Crypto Portfolio Manager. Automatically connect Coinbase, Binance, and all other exchanges & wallets.
www.cointracker.io www.cointracker.io
Click to expand...
There's several. I don't think this one existed when I needed to file a couple years ago. Bitcoin.tax and Beartax have been around for a while.
 
Z-Qualizer said:
I *had* 105M SHIB… held it for several months… wasn’t doing much, so I got bored and sold it all… on September 16th, roughly 2 weeks before it started pumping 🤦‍♂️
(Pic for proof)
Click to expand...

I also had 100 mil of shib… question is to buyback in or let it be. Made some profit on the run but still dicey . Unless on one here knows another coin that’s gonna blow
 
Z-Qualizer said:
I *had* 105M SHIB… held it for several months… wasn’t doing much, so I got bored and sold it all… on September 16th, roughly 2 weeks before it started pumping 🤦‍♂️
(Pic for pr
Click to expand...
Dr.Jekyll75 said:
I also had 100 mil of shib… question is to buyback in or let it be. Made some profit on the run but still dicey . Unless on one here knows another coin that’s gonna blow
Click to expand...
So I’m probably the wrong guy to ask BUT since you did…

I’m done with SHIB. I think *this* (what’s going on right now) was THE big opportunity and I missed the boat (barely).

Unlike established coins (BTC, ETH, etc.) I don’t think SHIB has staying power… I don’t think it sticks around and continues to pull back and hit new highs.

But what the heck do I know?!?
 
nimbus said:
Gaming for money in the metaverse. Axis shards were $0.17 one year ago….now trading around $150.


venturebeat.com

Sky Mavis hits $2B in sales for its NFT game Axie Infinity

Sky Mavis and its players have generated $2.05 billion in sales to date for its Axie Infinity game, which enables the play-to-earn model.
venturebeat.com venturebeat.com
Click to expand...
This METAVERSE thing reminds an amazon movie I watched before: Virtual revolution. Basically the world is controlled by the big corps and politicians. Regular joes can either choose to be the connected or exile in slums. The connected receives some ubi, gets a place to sleep and some food, spends most of the time in VR. Incidentally, the name of the VR is VERSES.

The next step will be Matrix.

$$$? Just a coded illusion.
 
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