The Bitcoin (BTC) thread

Yep, I'll ask Bitcoin is so 2016 lmao

-What makes chainlink so vital to the future of crypto
-What is your estimated price projections for end of year, 2021 , 2022?
-How did Chainlink do so well in the bear market of 2018 to now
-Is Sergey legit?

I did a quick search and Chainlink hasn't even been mentioned in this thread this year. Barely even the whole of last year. If anyone has any questions about Chainlink, fire away. I have participated in blockchain conferences around the world, written a thesis on the topic and followed the project's every move in detail for the past two years. It is the single most important thing happening in crypto right now. If there's interest, I am happy to indulge.
 

2020Dude

Newbie
Bitcoin will almost certainly retest and possibly surpass it's ATH after the 'halving' in a few days.
Currently sitting a bit under 10k, simply buy and hold for now, easiest way to double any money you have no intention of using for several weeks.
 

joost

Kingfisher
I did a quick search and Chainlink hasn't even been mentioned in this thread this year. Barely even the whole of last year. If anyone has any questions about Chainlink, fire away. I have participated in blockchain conferences around the world, written a thesis on the topic and followed the project's every move in detail for the past two years. It is the single most important thing happening in crypto right now. If there's interest, I am happy to indulge.
Yep, I'll ask Bitcoin is so 2016 lmao

-What makes chainlink so vital to the future of crypto
-What is your estimated price projections for end of year, 2021 , 2022?
-How did Chainlink do so well in the bear market of 2018 to now
-Is Sergey legit?
Can you guys shill that shitcoin somewhere else? This is for Bitcoin discussion.


Bitcoin will almost certainly retest and possibly surpass it's ATH after the 'halving' in a few days.
Currently sitting a bit under 10k, simply buy and hold for now, easiest way to double any money you have no intention of using for several weeks.
Let's say someone followed your advice and lost 15% (so far). How many weeks are we talking about to increase 136% (to reach $20k)?
 

JayJuanGee

Crow
Gold Member
Threw 100 bucks in the pot, exciting times folks
It's good if you find an amount that you can invest regularly, whether it is monthly or weekly. A one time investment of $100 is not too likely to do very much, but of course $100 is likely to be better than nothing.

If you cannot afford, $100 per month, then maybe some lower amount, such as $20 or $50 or even just figuring out each month how much you can afford.

When I first got into bitcoin in late 2013, I had scheduled a BTC investment budget for 6 months and then I extended another 6months. I usually plan my cashflow for 12 to 24 months in advance, so I usually will have pretty clear ideas about how much funds that I have available, and how much I was allocating towards putting into bitcoin, so even though I had allocated ahead for 6 months in advance, I divided those amounts into weekly budgets, so once I spent the whole allocated amount for the week, I would have to wait until the next week before I could add more to my investment. Of course, that is a kind of dollar cost averaging that I considered to be an attempt at frontloading, somewhat.

Of course, the more of a base budget that you establish for yourself into your BTC investment, then the more likely such investment will add up to make meaningful changes to your options in the future.. while, of course, BTC future price performance is far from guaranteed.
 

redbeard

Hummingbird
Moderator
As long as you commit (completely) to never selling (and I mean never) it's pretty easy to figure out how much you can allocate to BTC.

If you over-allocate one month, your wallet will hurt, and you'll know it. Because you're committed to NEVER selling, you have to just HODL on. Then you buy less the next month. You'll eventually get into the swing of things and find the perfect amount to invest based on your risk tolerance and how much money you make.
 

JayJuanGee

Crow
Gold Member
As long as you commit (completely) to never selling (and I mean never) it's pretty easy to figure out how much you can allocate to BTC.

If you over-allocate one month, your wallet will hurt, and you'll know it. Because you're committed to NEVER selling, you have to just HODL on. Then you buy less the next month. You'll eventually get into the swing of things and find the perfect amount to invest based on your risk tolerance and how much money you make.
That thinking differs from mine... That's for sure.

I understand that there are a lot of different philosophies, but I don't understand any philosophy that would never sell because then I don't understand what the purpose would be.
I do understand philosophies that involve plans to accumulate, maintain and liquidate, and I would expect that everyone should be attempting to account for all of their assets to the best of their abilities to get to zero by the time that they die. However, it is difficult to predict when we are going to die, and I do understand that some people do want to pass some of their estate onto their heirs, so there could be a certain amount of getting to zero that attempts to account for a portion going to heirs or otherwise passing down in some kind of way.

Another part that I understand is that investing into bitcoin is likely best to be considered in terms of long term, such as 4 years minimum, but hopefully even a longer timeline. Accordingly, selling would not be done on the way down, but instead on the way up or if arriving at liquidation stage of investment.

Having said all of this, of course, every guy (girl's are not allowed here now are they?) should be attempting tailor his BTCV strategy towards his own personal circumstances, including cashflow, other investments, view of bitcoin as compared with other investments, risk tolerance, timeline and time and skills available for research and managing portfolio and tweaking from time to time.... so yeah, sometimes taking account of personal conditions is likely going to cause tailorizing and maybe even differing ways of approaching the specifics of the investing .

And, yes... happy halvening.. seems like it has gone pretty uneventful, in terms of no meaningful glitches, or other meaningful drama.
 

2020Dude

Newbie
I can see that you're some sort of crypto skeptic. Anyways I didn't imply that Bitcoin should be used as a store of value (due to its extreme volatility).

Rather, it should be used for trading/speculation for that same reason. BTC is currently in a good buy zone in my opinion, both technicals and fundamentals (halving) point towards that.

As for the price drop, that's a normal retracement, the market zigzags up and down. It never moves in a straight manner.
The 'several weeks' I stated earlier refers to Christmas/end of the year. Cheers.

Can you guys shill that shitcoin somewhere else? This is for Bitcoin discussion.




Let's say someone followed your advice and lost 15% (so far). How many weeks are we talking about to increase 136% (to reach $20k)?
 

joost

Kingfisher
I can see that you're some sort of crypto skeptic.

Rather, it should be used for trading/speculation for that same reason. BTC is currently in a good buy zone in my opinion, both technicals and fundamentals (halving) point towards that.
I'm not a skeptic. I don't love Bitcoin but I like it a lot. I think it would be great if there was more adoption and price stability.

What I'm pointing is that nobody knows how much a Bitcoin will be worth in the future. That's why I pointed the 15% fall when you advised people to buy.

Price is a matter of supply X demand. You can't predict the decision of millions.
 

2020Dude

Newbie
I'm not a skeptic. I don't love Bitcoin but I like it a lot. I think it would be great if there was more adoption and price stability.

What I'm pointing is that nobody knows how much a Bitcoin will be worth in the future. That's why I pointed the 15% fall when you advised people to buy.

Price is a matter of supply X demand. You can't predict the decision of millions.
I follow price, not the crowd.

 
It seems to have relatively stabilized here. But when the market dips this summer, it'll go with it, maybe for the last time.

After that point I'm going to be solid and long in all of my positions.
 

Stats

Robin
Funny Jayjuangee the most vocal bitcoin advocate is not a true btcliever.
BTC best performing asset of the last decade. As soon as we hit the end of the current long term economic cycle we will see the first real global use case of btc since its creation.
 

JayJuanGee

Crow
Gold Member
Funny Jayjuangee the most vocal bitcoin advocate is not a true btcliever.
BTC best performing asset of the last decade. As soon as we hit the end of the current long term economic cycle we will see the first real global use case of btc since its creation.
Seems that my investment approach in BTC has been tailored to my situation, my goals and to have some hedge against the dollar. I do not recall proclaiming to have been any kind of true believer in anything, including bitcoin, so accordingly, I doubt that I have been advocating anything beyond that guys should probably figure out what might work for themselves, perhaps getting off zero with bitcoin with a 1% to 10% allocation in bitcoin.. but of course, guys have to choose for themselves.. So I don't know from where you are getting that there is some contradiction in my approach, except your own extrapolation?

I created a BTC investment strategy for myself that has largely been dollar cost averaging and accumulating BTC, and then of course, at some point I got into more of a maintenance stage of my BTC investment and at some point there may be more liquidation stage of my BTC investment coming, but liquidation for me and you likely are different concepts, so I can explain if you need some sharing of my view of that concept of liquidation, yet overall I have been attempting to stick with my various BTC related strategies and tweaking my BTC related strategies along the way in accordance with my own situation.

Overall my BTC strategy has attempted to minimize gambling, and focused largely on long term investing. You are believing that I have not sufficiently invested into bitcoin based on some comment that I made? Or all of a sudden BTC is going to seem like the best thing in the world, and sure of course, it is already expected to have an exponential price cycle.. been prepared for that, and suggesting that maybe some other guys might want to consider getting off of zero, but they can choose what they like and we are still likely in less than 1% of the world adopted into bitcoin in any kind of quasi-meaningful way. Seemingly very early days in bitcoin, still.

How about you, Stats? Do you have a better approach in regards to a bitcoin that you would like to share? Bitcoin is NOT exactly any kind of sure bet, and it can be very volatile, which is scary for a lot of guys, and I am not going to argue that bitcoin has been a great performing asset and likely to continue in that "great performing" direction. Have you made some kind of a killing on bitcoin in some kind of way in recent times, and you would like to inform us about something new? or are you suggesting some BTC related strategy that you believe to be solid?
 
Nothing wrong selling. If you sell most of your BTC at 100k and then it goes to 1m, even in hindsight, I don't see you as an idiot. Maybe selling at 100k is enough for you to retire early, save your family from ruin or achieve your life goals. There's no point doing all this just for bragging rights.
 

Graft

Kingfisher
Gold Member
I used to be the biggest believer in BTC and cryptocurrencies. March made me a huge skeptic.

There is simply too much downside to BTC at this point. As we saw in March, any massive market correction will take down BTC gloriously. BTC dropped 50% in one day, alts flashed to 30% of their price in one day.

If you're bearish on the stock market, I'd stay away from BTC. It's very difficult to instill mass institutional confidence in an asset that has that level of volatility in a worldwide depression.
 

redbeard

Hummingbird
Moderator
I used to be the biggest believer in BTC and cryptocurrencies. March made me a huge skeptic.

There is simply too much downside to BTC at this point. As we saw in March, any massive market correction will take down BTC gloriously. BTC dropped 50% in one day, alts flashed to 30% of their price in one day.

If you're bearish on the stock market, I'd stay away from BTC. It's very difficult to instill mass institutional confidence in an asset that has that level of volatility in a worldwide depression.
Yep, BTC is quite volatile. However if performance is the only reason for your reluctance, it's worthwhile noting this:

You could've bought Bitcoin literally any day of 2020 and it would've outperformed the S&P.

Bitcoin still has a long way to go, but there's still a place for it in 5-10% of everyone's portfolios.
 
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