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periopdoc said:
The low should be between today and Friday. Anything below 3k is a good price on ETH, and probably the last chance to see that for a long time, probably forever.
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Forever??
 
I’m convinced Crypto is a con… I dabbled it in a few times but can’t stand the sight of seeing my money burn carelessly. I rather fund a stripper’s college tuition.
 
nimbus said:
I believe it’s here to stay and if you HODL long term, it will pay off.
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I am fully onboard with the technology being relevant long term. I am agnostic as to whether any individual coin will be valuable 10-20+ years from now so file it under gambling not investing. It certainly could pay off, but has more risk than what I would term an investment with sufficient margin of safety.
 
Mman said:
I am fully onboard with the technology being relevant long term. I am agnostic as to whether any individual coin will be valuable 10-20+ years from now so file it under gambling not investing. It certainly could pay off, but has more risk than what I would term an investment with sufficient margin of safety.
Click to expand...

I agree it’s gambling. Still as time passes, the odds are getting better.
 
nimbus said:
I agree it’s gambling. Still as time passes, the odds are getting better.
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Not only am I not qualified to offer odds on it, I also do not know how you would even calculate the odds. The technology is great. But if current ones get surpassed, it could make them nearly obsolete. I love the ideas and possibilities.
 
This thread is still going?

Personally I’m convinced this is the one of the greatest opportunities in human history. We are rebuilding the financial system (and the concept of digital property rights), in real time globally with participation from anyone who has an idea and wants to build on it. I’m doing my part by using my idea and dollars to build something in the space that’s new and hasn’t been done before.

I guess I’ll be doxxing myself but I’ll be at the ASA doing a small presentation about some other ideas we have regarding using the technology in healthcare (not related to what I’m working on). Kinda cool to be building something and passing that legacy on to my kids. If anyone will be in SD, hit me up and let’s get a drink
 
Mman said:
Not only am I not qualified to offer odds on it, I also do not know how you would even calculate the odds. The technology is great. But if current ones get surpassed, it could make them nearly obsolete. I love the ideas and possibilities.
Click to expand...

BTC and ETH have already been surpassed by greater technologies such as ADA, SOL, ALGO, DOT. But what good are those if no one uses them? As history shows, the greatest technology does not mean the most successful. Case in point, Microsoft is still a top 3 company in the world. There are better operating systems than Windows, but no one uses them. It's all about adoptability. ETH is the Microsoft of crypto.

I'm long on crypto but I'm not buying anymore until BTC is below 28k, ETH below 1800, and ADA below 1.30 again. I think it's crazy to say we will never see the current prices again, as some have said in this thread.
 
From a fun little newsletter




“US households bank deposits increased 28% in 15 months​

​
Seventeen. Point. Four. Trillion. That’s how many dollars US households held in savings accounts in the first quarter of 2021. Does anybody want to take a wild guess at the average interest earned in a US savings account? SIX BASIS POINTS! It’s no wonder investors are flocking to crypto lending!

So, what should households do with all that cash?

Well, one option is to take a page out of the “Buy the Dip” generation’s playbook and…well, buy the dip! The S&P is currently in the middle of its 25th dip since the March 2009 low, and over those 12 years the BTD strategy has paid off.

GRIT’S TAKE: It’s like he took the words out of my mouth: “There's 72MM millennials the oldest of which is 41. They've lived through 2 gigantic market events (GFC / COVID) while investing for the future. Some of them have embraced virtual assets that drop 50% all the time. Do we think they're scared of random selloffs anymore?” Michael Antonelli

GRIT’S ACTION: BTFD.”


gritcapital.substack.com

Carbon prices could go from $3 to $147 by 2030

Quick Hits from GRIT
gritcapital.substack.com gritcapital.substack.com
 
a6ba08b546de026433e7a9bedd5857de.png
 
Bitcoin= Digital Gold

Ethereum= MSFT or Google

Once Bitcoin becomes available through an ETF in the USA and the big boys allow us to trade BTC and ETH (Fidelity, Schwab, E-trade, etc) these will become much more mainstream and 1-2% of a lot of portfolios.

I was not a believer in Bitcoin but I bought some anyway. I thought GOLD was going to replace the worthless fiat currencies around the world. I was wrong.
Digital currency is indeed the future and you can get in now.

I was thinking of buying the smaller cryptos in terms of valuation but I am just sticking with the big two for now. Ethereum and Bitcoin.

In my demographic very few hold Crytpto but this group has a lot of assets overall. Hence, once the older demographic decides to invest in crypto the price will go up. I think these investors will choose Bitcoin or Ethereum.

news.gallup.com

Bitcoin Making Inroads With Younger U.S. Investors

U.S. investors' awareness of bitcoin and their interest in buying it have increased since 2018. The shifts are particularly notable among investors under 50.
news.gallup.com news.gallup.com
 
Three years ago, a very small percentage of investors reported owning bitcoin, most reported having little knowledge of it, and majorities -- regardless of gender or age -- expressed limited interest in ever buying it. Since then, the price of bitcoin has grown by over 300%, well outpacing the market's roughly 40% increase over the same period. Purchasing it has become easier for average Americans through crypto exchanges such as Coinbase, Kraken and Gemini. And large investments in bitcoin by well-known companies such as Tesla, Square and Morgan Stanley (the latter done indirectly through other investments) may be giving it more mainstream credibility.

Perhaps as a result, bitcoin is inching closer to general acceptance among U.S. investors, particularly with those under age 50. Not only do 13% of these relatively young investors own it, but their familiarity with it and willingness to buy it have risen to majority levels. Still, stocks, bonds and mutual funds remain the dominant types of investments for investors of all age groups. Thus, for now, it appears bitcoin is an ancillary purchase for investors trying to supplement their portfolio and not a replacement for more traditional securities.
 
BLADEMDA said:
Bitcoin= Digital Gold

Ethereum= MSFT or Google

Once Bitcoin becomes available through an ETF in the USA and the big boys allow us to trade BTC and ETH (Fidelity, Schwab, E-trade, etc) these will become much more mainstream and 1-2% of a lot of portfolios.

I was not a believer in Bitcoin but I bought some anyway. I thought GOLD was going to replace the worthless fiat currencies around the world. I was wrong.
Digital currency is indeed the future and you can get in now.

I was thinking of buying the smaller cryptos in terms of valuation but I am just sticking with the big two for now. Ethereum and Bitcoin.

In my demographic very few hold Crytpto but this group has a lot of assets overall. Hence, once the older demographic decides to invest in crypto the price will go up. I think these investors will choose Bitcoin or Ethereum.

news.gallup.com

Bitcoin Making Inroads With Younger U.S. Investors

U.S. investors' awareness of bitcoin and their interest in buying it have increased since 2018. The shifts are particularly notable among investors under 50.
news.gallup.com news.gallup.com
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Although I am not a huge fan of Gold, it does have a few thousand years of people valuing it. Can't say the same about crypto. Still agnostic about it.
BTW added to my precious metals equity position this week. Now about 1% of my portfolio.
 
And in a practical sense, I don’t know how any government can “ban” crypto. They can ban mining and onshore trading, but how do they ban an offline cold wallet and offshore trading?
 
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.
 
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.
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True. But it wouldn’t surprise me a bit if many high level CCP officials are hoarding Bitcoin despite the “ban”. Most of the largest miners were there during the past decade.
 
Dino-bankers going to dino-bank until toilet paper worth more. That won't ever happen fiat is a good store of value over the last century right!? Research USD value, even post WWII. Doomsday for crypto right around the corner just like p2p files ala napster... that activity is illegal right?!? This is the beginning of the end for defi! Been holding nearly a decade have reached financial independence as a result. My resignation letter is drafted ready to print and deliver to my private equity backed corp; may continue this fall boy "career" through my 30s- time will tell. Traditionalists don't have the balls for this right now up or down 6 or 7 figures in an hour, I admit keeps me up sometimes. Look forward to responses telling me about ponzi schemes by people 1-2 gens my senior holding tp, real estate and valuable stocks that still have to work. Buffet is a genius never missed an opportunity, dislikes crypto!! Listen to Warren
 
infallibleinduction said:
Dino-bankers going to dino-bank until toilet paper worth more. That won't ever happen fiat is a good store of value over the last century right!? Research USD value, even post WWII. Doomsday for crypto right around the corner just like p2p files ala napster... that activity is illegal right?!? This is the beginning of the end for defi! Been holding nearly a decade have reached financial independence as a result. My resignation letter is drafted ready to print and deliver to my private equity backed corp; may continue this fall boy "career" through my 30s- time will tell. Traditionalists don't have the balls for this right now up or down 6 or 7 figures in an hour, I admit keeps me up sometimes. Look forward to responses telling me about ponzi schemes by people 1-2 gens my senior holding tp, real estate and valuable stocks that still have to work. Buffet is a genius never missed an opportunity, dislikes crypto!! Listen to Warren
Click to expand...
You may very well be right. If you truly have reached financial independence through cryptocurrency, Congratulations! You are unwise if you don't diversify into more traditional asset classes. Why keep playing if you have won the game? we may still be in the early innings of Bitcoin, Ethereum, et al boom. But then again they may go to virtually worthless in an instant. If you have ten million cash a major chunk of it in. Unless you want 100 million and are willing to risk what you currently have.

No position in crypto. Also no hate for it.
 
Sold/took off a decent portion 7 years ago when it was basically just BTC, regret it every single day but can't turn back the clock. I know our "democracy" has a bad history even with gold, definitely a risk going forward with anything other than USD. Risk/reward
 
pgg said:
I think the "do your own research" guys are over in the covid thread. 🙂


Are you sure Napster is the example you want to use of the masses stiggin it to the man and (not) getting away with it?
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Despite centralization... I'm sure
 
dr doze said:
position in crypto. Also no hate for it.
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Also no position in it, though I confess hate for bitcoin simply because it's an eco-terrorist wet dream. Other coins, I'm ambivalent toward.

Cryptocurrency in general is a fascinating concept and I'm sure it'll be around in one form or another from here on. There's just too much about it that could be useful and democratizing.
 
I’m curious, do you guys genuinely want us all to be rich and just trying to share the wealth or is it all some kind of pyramid scheme?

I’ve dipped my toe in it a few times and likely lost over 2k each time in less then a week and it literally felt like I was just watching my money burn for no good reason at all. I know the answer is to just stick with it and maybe it’s as simple as bad timing but I’m out.

I likely will be wrong and I apologize in advance for not accepting your beneficial financial advice!
 
RadOncDoc21 said:
I’m curious, do you guys genuinely want us all to be rich and just trying to share the wealth or is it all some kind of pyramid scheme?

I’ve dipped my toe in it a few times and likely lost over 2k each time in less then a week and it literally felt like I was just watching my money burn for no good reason at all. I know the answer is to just stick with it and maybe it’s as simple as bad timing but I’m out.

I likely will be wrong and I apologize in advance for not accepting your beneficial financial advice!
Click to expand...
When I first purchased Bitcoin there were times I was 100% ahead and others I was 50% in the red. That's the nature of the beast. Do I think if you buy and hold Bitcoin at $42,000 it will be worth $80K in 3 years? Yes, I do which is why I am not selling any.

Again, a very volatile asset which can drop 20% in 2-3 days; also, it can surge again back up to $60K by the end of the year. Only invest what you can afford to lose so no more than 3% of your portfolio. Ethereum is volatile as well but $2800 is a good entry point.

If I sold my Crypto during crashes (these happen regularly) I wouldn't have made a dime. Instead, look for big pullbacks as entry points and be patient. Think of it as art work or some other asset which you would be willing to own at the right price.
 

They don’t go in with a plan and let themselves get greedy​

One of the most important things a new crypto investor can do is know their goals. Too often, Traidman says, new investors get enamored by quick increases in the value of their holdings and decide to see if it goes up any more. Instead, they should sell if they hit their targets.
“When you have a situation where your money is up 2x or 3x, you’ll think that it was too easy,” he says. “Stick to your guns and don’t get greedy. If your goal is 2x [growth], and you hit that, sell it and be thankful that you hit your number.”
He adds that new investors often get caught up in the day-to-day fluctuations of the coin. A better strategy, Traidman argues, would be to “buy, hold and forget about it” for at least a year.
“If you look at it every day, it can be nerve-wracking,” he says. “We crypto crazy people do that, but I don’t think it’s the right move for the average casual investor.”
 

Is this a buying opportunity?​

If you've been considering buying Bitcoin, dips like this one can offer the opportunity to buy at a discount. However, it's important to understand the risks -- don't buy in just because the price is lower today.

It's like buying something you wouldn't otherwise have bought during your weekly grocery shopping, just because it's on sale. Rather than scoring a money-saving bargain, you've just spent unnecessary money. And though Bitcoin's price has risen over 400% in the past year, there's no guarantee it will continue to go up, especially in the short term.

Bitcoin is the world's first and biggest digital currency. Some investors, like billionaire Mark Cuban, believe it is a form of "digital gold" -- something that will hold its value and appreciate over time.
 
BLADEMDA said:
When I first purchased Bitcoin there were times I was 100% ahead and others I was 50% in the red. That's the nature of the beast. Do I think if you buy and hold Bitcoin at $42,000 it will be worth $80K in 3 years? Yes, I do which is why I am not selling any.

Again, a very volatile asset which can drop 20% in 2-3 days; also, it can surge again back up to $60K by the end of the year. Only invest what you can afford to lose so no more than 3% of your portfolio. Ethereum is volatile as well but $2800 is a good entry point.

If I sold my Crypto during crashes (these happen regularly) I wouldn't have made a dime. Instead, look for big pullbacks as entry points and be patient. Think of it as art work or some other asset which you would be willing to own at the right price.
Click to expand...
I made a few gambles over the past week so I’m going back in Blade… you convinced me. I just won’t look at it!
 
Countries do not, and will not, let their institutions, or their currencies, fall by the wayside because an independent group of currency creators decides it must be so.

The U.S. Constitution grants the power to print and coin money to Congress. Obviously, that power has been challenged several times in our history.

But nations lean toward centralization and control, especially when it comes to money.

China may be the first to ban bitcoin, and other currencies, but I am sure it won’t be the last.

While there are vast differences between the U.S. and China when it comes to revolutionary technological advances, challenging the existing order is not one of those differences.

If it can happen there, it can happen here.

Bitcoin buyer, beware.

www.cnbc.com

Ron Insana: China may be the first to ban bitcoin, but it won’t be the last

Other countries could model China’s recent move to make crypto transactions illegal, writes CNBC contributor Ron Insana.
www.cnbc.com www.cnbc.com
 
time.com

Here's How Much of Your Investing Portfolio Should Be in Crypto, According to 5 Experts

Cryptocurrency is a volatile, high-risk investment. That’s why many experts stick to the 5% rule.
time.com time.com


But generally speaking, Morrison recommends keeping any crypto investments below 5% of your portfolio. “Once it’s over 5%, you start to see the volatility swings affect the rest of the traditional portfolio, and most people don’t want that,” says Morrison.
 
BLADEMDA said:
time.com

Here's How Much of Your Investing Portfolio Should Be in Crypto, According to 5 Experts

Cryptocurrency is a volatile, high-risk investment. That’s why many experts stick to the 5% rule.
time.com time.com


But generally speaking, Morrison recommends keeping any crypto investments below 5% of your portfolio. “Once it’s over 5%, you start to see the volatility swings affect the rest of the traditional portfolio, and most people don’t want that,” says Morrison.
Click to expand...
I can attest to that, I had around 7% and it made a significant impact. Right now, I’m going to do around 1-3% and just let it ride for a few months.
 
nimbus said:
True. But it wouldn’t surprise me a bit if many high level CCP officials are hoarding Bitcoin despite the “ban”. Most of the largest miners were there during the past decade.
Click to expand...
Or shorting it🤔.
 
cryptopotato.com

Bought the Dip: 3rd Largest Bitcoin Whale Purchased $13M Worth of Bitcoin at $40.5K

After buying another sizeable portion of BTC during the ongoing correction, the third-largest bitcoin whale now holds more than 111,000 coins.
cryptopotato.com cryptopotato.com


“BTC Whale Buys The Dip (Again)​

CryptoPotato has frequently reported the behavior of this mysterious whale or at least one of their addresses. Back in April, they sold a substantial chunk of their portions when the primary cryptocurrency had skyrocketed to its all-time high levels of above $60,000.

During the subsequent correction, when the asset retraced below $40,000 and even $30,000, the whale resumed its appetite by making several consecutive purchases. Interestingly, almost all of them came when bitcoin had dropped several thousand dollars from the local peaks.

These transactions typically transpire on the largest US crypto exchange Coinbase. The latest purchase came hours ago when the entity bought and transferred 321 bitcoins at an average price of $40,500, which was around $1,000 away from the intraday bottom.

As this address shows, the whale has made numerous consecutive transfers to the wallet. The total stash now is 111,795 BTC – or about $4,750 billion worth of the digital asset.

ADVERTISEMENT

According to CryptoQuant’s analyst going by the Twitter handle VentureFounder, this whale sits on an unrealized profit of $2.4 billion.
3rd Largest Bitcoin Whale Address Behavior3rd Largest Bitcoin Whale Address Behavior

Who Else Bought the Dip?​

The “buy the dip” strategy is particularly popular in the cryptocurrency space and die-hard HODLers due to the enhanced volatility in the market. Consequently, many believers use the price dips to accumulate more portions.
Now, though, it seems this trend has expanded well outside of the community and into entire countries. As reported recently, El Salvador also bought 150 new bitcoins after BTC retraced to $45,000.
Thus, the nation, which was the first one to legalize bitcoin earlier this month, has a total stash of 700 coins worth roughly $30 million with today’s prices. Moreover, the country’s leader, Nayib Bukele, gave presidential advice that “they can never beat you if you buy the dips.”
 
RadOncDoc21 said:
I’m curious, do you guys genuinely want us all to be rich and just trying to share the wealth or is it all some kind of pyramid scheme?

I’ve dipped my toe in it a few times and likely lost over 2k each time in less then a week and it literally felt like I was just watching my money burn for no good reason at all. I know the answer is to just stick with it and maybe it’s as simple as bad timing but I’m out.

I likely will be wrong and I apologize in advance for not accepting your beneficial financial advice!
Click to expand...

If you check the prices daily, you can drive yourself nuts due to the volatility.

The simplest answer is the correct one: buy and hold.

As a physician, you should have a steady income. The volatility that results in a $2000 paper loss is to be expected and shouldn't phase you.
 
what platform your guys use to trade bitcoins? I heard coinbase is expensive. robinhood better?
 
I'm curious what you guys do to protect from another Mt Gox "oops we lost your coins, seeya" situation?
 
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