Crypto

[Anonymous]

Anonymous wrote:

Anonymous wrote:For those thinking of getting in, typically about 90% of people lose money and are negative when the top of a cycle collapses.

I am a teacher. When my students start talking about that is when I know it is time to start divesting.

Have they started to talk about it? The run hasn't even started yet.

Do you have a schedule you can share?

[Anonymous]

Behold ye chucklefks, alt coin season is upon us! Thine conversations of bitcoin vex me to a state of boredom! Begone and let us talk of moons!

[Anonymous]

Crypto conversations always attract the odd ducks.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For those thinking of getting in, typically about 90% of people lose money and are negative when the top of a cycle collapses.

I am a teacher. When my students start talking about that is when I know it is time to start divesting.

Have they started to talk about it? The run hasn't even started yet.

Do you have a schedule you can share?

It's online. I'm just doing my best not to sell too early or too late.

[Anonymous]

Is crypto a hedge against the s&p, like gold, silver?

[Anonymous]

The crypto bull run has just gotten started. I suggest everyone load up, obviously, on Bitcoin. But also on Bonk, Shiba Inu, Cro, LCX, algorand, dogelon mars.

[Anonymous]

Anonymous wrote:

Anonymous wrote:"Fiat" is a pretty common term to denote currency that is backed by nothing more than the collective goodwill of its users, and in the case of the US enormous military might and economic hegemony. I've never watched a YouTube video, but have read books about how money works. It isn't difficult to understand that after the gold standard was lifted, the dollar lost 90+ percent of its value. When the fed prints trillions of dollars, each dollar is worth less. That's the whole reason Nakamoto - probably Hal Finney - created Bitcoin, i.e., as a reaction to quantitative easing by which the fed floods the world with dollars in order to "manage" the economy.

Pretty hilarious that you refuse to accept reality. The American dollar is backed by nothing whatsoever. And losing its value. But keep denying reality.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:But everyone told me it’s a scam…

It is. Remind me of the use cases?

At this point, Bitcoin is here to stay. You’ve got ETFs. You’ve got massive inflows. When people think crypto they think Bitcoin. It’s sort of like gold. An alternative investment. It’ll be around. It’ll go up. Michael Saylor was right.

Exactly, there are so many real world applications of BTC just like gold, as well as the basic intrinsic value of there is cataclysmic events like a solar flare knocks out world power systems for months.

Remind me how a digital currency will work in a world without a power grid?

And with the way that fiat money is going with many places going cashless, how is that any different?

I went to Busch Gardens this weekend, and the entire park doesn’t accept cash at all. If that’s the way the world is going, how is that any different?

Using the word “fiat” is my number one indicator im talking to a knucklehead.

But the way it’s different is that bank transfers of money have been cashless for decades. Credit card transactions are different from bitcoin because 1. An intermediary guarantees the debt, and 2. It can happen almost instantaneously through the credit card processor. If bitcoin was used for the trillions of transactions that happen per day, the world would grind to a halt.

But how will that also operate without a power grid? Unless you’re going the old school way where you have a credit card imprinter. You’re going to have several forms just laying around for every single transaction that will quickly add up.

[Anonymous]

Crypto bros always sound so absurd while being so confident. It’s all a cult. There’s no use trying to convince them otherwise.

[Anonymous]

Anonymous wrote:Crypto bros always sound so absurd while being so confident. It’s all a cult. There’s no use trying to convince them otherwise.

Gal here. There's money to be made. I'm not even using my own money anymore which probably makes me take more risks.
I suggest some stay away, but the ones who want to get in, find someone who has done it.
The best part is having learned so much while doing it.

[Anonymous]

I have 3 from when they were ~3,500 a piece and then a year ago purchased another 3 at 20K each and had them set to sell automatically at 60K. I was not paying ANY attention to BTC, basically have been ignoring it for the last few months and almost fell over in shock when I got the notification that 180K USD just showed up in my coinbase. This all falls under long term gains and I'm super pumped that this will entirely pay for my kid who just got into VT and we can move all 529 of his over for his yonger brother. His younger brother is stacked for college and there definitly will be leftovers for grad school.

It's a great way to start 2024! I'm not complaining about a 300% unexpected return in just over a year.

[Anonymous]

Anonymous wrote:For those thinking of getting in, typically about 90% of people lose money and are negative when the top of a cycle collapses.

I am a teacher. When my students start talking about that is when I know it is time to start divesting.

The other indicator historically was when something was on the cover of Time Magazine. Now I am not sure what we will use. This is from June 2005.

https://content.time.com/time/covers/0,16641,20050613,00.html

"In 2005, Burry started to focus on the subprime market. Through his analysis of mortgage lending practices in 2003 and 2004, he correctly predicted that the real estate bubble would collapse as early as 2007"

[Anonymous]

Anonymous wrote:Crypto bros always sound so absurd while being so confident. It’s all a cult. There’s no use trying to convince them otherwise.

And you are prob content living in a rambler in Manassas and driving a 2005 Honda accor, while these crypto bro make fktons of money buying bitcoin and alt coins. Just because you don’t like it, doesn’t mean it isn’t profitable. It’s also not going away. At present there really aren’t any strong regs. And those that may be coming are years away. Bitcoin is also basically socially accepted now with the Bitcoin ETFs and boomers buying in with their 401ks.

Don’t get me wrong, I have 95% of my portfolio in index funds and RE, but you are not being realistic with your flippant intransigence against crypto.

[Anonymous]

I wouldn't call people like Lyn Alden, Bill Miller, or Ray Dalio "crypto bros". These are people who have a very deep understanding of the global financial system and the history of money, and in the case of Miller and Dalio have been among the most successful investors for many decades. They all think Bitcoin is a hedge against currency devaluation. Alden and Dalio have done deep dives in their respective books. I'm not an economist or historian, but the logic is pretty compelling. Read their takes on Bitcoin before dismissing it as a "cult" or "bro talk".

[Anonymous]

It’s important that we all pay heed to the cross section of Bethesday housewives and over 65 year olds on DCUM who understand complex financial products. If they don’t like bitcoin, no one should buy it. They know.