The Bitcoin (BTC) thread

Nolimitz

Pigeon
I mentioned this before, but the significance of Microstrategy investing in BTC as a "reserve asset" shouldn't be overlooked. This was a $250 million inflow into Bitcoin from a large corporation.....it won't be the last.

To think corporations will flood into alt coins.......it's just not going to happen. The market caps aren't meaningful enough to do so.

IMO this was a large domino that will likely spur hedge funds and others corporations to speculate on BTC as a reserve asset.

"First slow....then all at once."

Imo $7-$9k present excellent entries for long-term hold positions.
 
Something like Fidelity getting in would be flipping the switch. Last I heard they were trying to get approval from the SEC.

the non-correlated asset meme has died off completely now with btc being directly correlated to stock price. FED prints and money flows into stocks which trickle down into bitcoin.
 

JayJuanGee

Crow
Gold Member
Something like Fidelity getting in would be flipping the switch. Last I heard they were trying to get approval from the SEC.

the non-correlated asset meme has died off completely now with btc being directly correlated to stock price. FED prints and money flows into stocks which trickle down into bitcoin.
The non-correlated asset meme is dying only in the minds of people who fail/refuse to zoom out a little bit in order to attempt to really understand what is going on in bitcoin, and instead they seem to be trying to figure out how to make nonsensical connections that do not exist in any kind of direct way, as you seem to be suggesting, burner.

Of course, there is going to be short term correlation from time to time, including some short term dynamics in which the excess cash ends up flooding into bitcoin in ways that you are describing, burner, but that short-term correlation to the extent that it exists does not cause bitcoin to all of a sudden become directly connected to traditional markets, whether we are talking about gold or equities or otherwise.

If you are only able to consider or recognize Bitcoin in terms of its purported connection to traditional markets on the short term, then it seems quite likely that you are missing part of the foundational backings of the various BTC price prediction models that hardly have any traditional market component contained therein, except perhaps various overall presumptions that over time value is going to gravitate into the most sound of moneys, which happens to be bitcoin currently in terms of the best of the sound moneys which has the likely ongoing result of value continuing to gravitate into bitcoin in the long term, even if in the shorter term there is a lot of potential noise and confusion along the way.

So, maybe it bears repeating that the BTC price prediction models have a lot of components, and just to list them out again 1) stock to flow, 2) 4 year fractal, 3) exponential s-curve adoption based on metcalfe and networking principles.

It takes a bit of study and analysis to understand the seeming ongoing validity of various BTC price prediction models, and I doubt that you are NOT aware of some of those foundational principles, burner. Of course, you may likely subscribe to some of the theories that attempt to equate or grant value to a variety of shitcoin projects, which could be taking you away from giving much if any credence to the sound money thesis that has been underpinning the ongoing strength of a variety of bitcoin fundamentals. So, I am not really attempting to blame you for framing bitcoin matters with those seemingly different value references.
 

Stats

Woodpecker
Went to my bank in canada today to send a wire to colombia. They basically told me there is no garantee the money will arrive and that they will do nothing if it does not. I told em to get on bitcoin.
BTC>>>>>>>>SWIFT
 

Caractacus Potts

Woodpecker
Gold Member
I finally jumped into the Bitcoin pool. I heard about it years ago here on the forum and never participated because of divorce related finance issues. Well, in the past few weeks I have read through almost this entire thread, watched quite a few videos regarding Bitcoin on YouTube and read "The Bitcoin Standard" by Saifedean Ammous. It all makes for a very compelling argument ... or I may be a slave to my emotions and the fear of missing out (FOMO). I hope and pray it is the former and not the latter.

I purchased one Bitcoin and it is currently being held in my account on Coinbase. I need to purchase a wallet. Is the Legder Nano S still the recommended choice? My plan is to dollar cost average a few hundred dollars per month and throw in larger amounts with any funds earned via overtime at work. I am not due to retire for nearly ten years so I don't need this money anytime soon.

I currently max out retirement accounts at work, pay off my credit card in full every month, have one condo fully paid off and am shooting to have a second paid off in five years or less. I will be done paying child support in a few years so that will help as well. I recently started a side job where I am paid a fair amount in tips. I would like to create a qr code and print it up and laminate it so people could tip in Bitcoin. Any advice on how to do that? Thanks to everyone who contributed to this thread.
 

Caractacus Potts

Woodpecker
Gold Member
I'd be less concerned about Bitcoin and more concerned about the condos, long term. How well are they run? What's the reserve funds, ages of the properties, etc. - condos are group ownership. With group ownership comes risks that you might not want in retirement.
Slickyboy, thanks for the concern. I answered the "why condos?" in this thread. https://www.rooshvforum.com/threads/older-guys-40.7/post-1570
What you say is true about my new condo. Before I bought it two years ago I asked if there were any special assessments in the offing. I was told no. Well, we had one last year and are looking at another one this year. :( However, the location can't be beat. I walk out my front door and I can throw a baseball that will land in the water. We have almost a private beach in a built up urban area.

Having said all of that, this is the Bitcoin thread so let's try to stick to the main topic. Thanks again for the concern and for the reminder of many of the problems with condos. As an aside, John T. Reed mentioned in one of his latest articles about buying/selling a condo for his son and it wasn't worth it.
 
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gework

Ostrich
Gold Member
Stats, thanks for the advice. I hadn't thought about a BRD wallet. But regarding the offline crypto wallets, is the Ledger Nano S still the preferred wallet of choice?
I have a Ledger. It's Ok. Their software wallet is a bit flaky and only really supports a few coins. Seems they are very slow at adding new ones. Unless you buy the most expensive one you are also limited to having two or three apps to handle coins installed. If you happen to have more coins. Then you will have to uninstall and reinstall apps to deal with them. If you have something like EOS you can only use it with third party apps, which is cumbersome. Its nowhere near set and forget or plug and play. When I buy another I will certainly be looking elsewhere.

I think I will buy a SafePal, which is much cheaper and seems to have more features and support. Importantly it has a barcode scanner and is wireless.


Supported coins:

 

lonewolf1992

Woodpecker
Hey friends, any crypto day traders here? i want to get started on this as a side hustle so i'd like to know where to learn this from. I've checked multiple courses on udemy, ivan on tech and an online academy called mba academy, but i don't want to get scammed. If there are any online strangers i trust in this world, they are in this forum.
 

Deepdiver

Crow
Gold Member
I do cybersecurity work... I prefer the new NGrave Zero HW wallet for high value Cryptos...

ZERO: The Most Secure, Easy-To-Use Crypto Wallet. The World's Highest Security Certification, EAL7 | 100% Offline | Tamper-Proof | Multi-Currency


New not cheap... so could be a back order... Iirc Coinbase has a secure vault feature at no extra cost.
 

redbeard

Hummingbird
Moderator
I finally jumped into the Bitcoin pool. I heard about it years ago here on the forum and never participated because of divorce related finance issues. Well, in the past few weeks I have read through almost this entire thread, watched quite a few videos regarding Bitcoin on YouTube and read "The Bitcoin Standard" by Saifedean Ammous. It all makes for a very compelling argument ... or I may be a slave to my emotions and the fear of missing out (FOMO). I hope and pray it is the former and not the latter.

I purchased one Bitcoin and it is currently being held in my account on Coinbase. I need to purchase a wallet. Is the Legder Nano S still the recommended choice? My plan is to dollar cost average a few hundred dollars per month and throw in larger amounts with any funds earned via overtime at work. I am not due to retire for nearly ten years so I don't need this money anytime soon.

I currently max out retirement accounts at work, pay off my credit card in full every month, have one condo fully paid off and am shooting to have a second paid off in five years or less. I will be done paying child support in a few years so that will help as well. I recently started a side job where I am paid a fair amount in tips. I would like to create a qr code and print it up and laminate it so people could tip in Bitcoin. Any advice on how to do that? Thanks to everyone who contributed to this thread.
Great job on doing your due diligence and reading The Bitcoin Standard.

For wallets I recommend using Samourai. Mixing with Whirlpool is a fantastic & easy-to-use way to privatize your coins.

I also recommend everyone buy using Bisq, ATM's, etc. to avoid KYC from the big exchanges.
 

Stats

Woodpecker
The US gov just announced yesterday how they will be going after privacy cooins like monero and most likely and bitcoin mixers.
i would stay away from any mixers unless you really need to use it or you might be labeled a terrorist at some point in the future passing through the usa
 

Deepdiver

Crow
Gold Member
Hey friends, any crypto day traders here? i want to get started on this as a side hustle so i'd like to know where to learn this from. I've checked multiple courses on udemy, ivan on tech and an online academy called mba academy, but i don't want to get scammed. If there are any online strangers i trust in this world, they are in this forum.
I have spent the last 3 years doing research with a gent who generated over $1B USD in incremental trading profits over the past several years. So I have acquired unique professional institutional trading knowledge...

He focuses trading on only two types of securities S&P 500 and Oil futures which offer some leverage... Both are traded globally in huge market size where the depth and breadth of market are so enormous that they are nearly impossible to manipulate by whales and pump and dump networks so famous among unregulated crypto exchanges.

He employs his own 50+ trading confirmations he developed and tested over the past 30 years and may be implemented in infinite permutations and combinations.

Using this unique methodology and strict risk management to control fud and fomo... The most profound thing I learned from him is he never has a losing trade.

We have in fact as an academic exercise analysed BTC/USD on Coinbase and you can do swing trades with BTC but on a daily basis the volatility due to whales and news manipulation combined with enormous 3rd party counterparty risk on unregulated exchanges with limited BTC futures track records... Makes something you can swing trade long or short based upon support and resistance levels combined with fibonacci retracement or extension graphs fitting in to wave analysis that calculated fud an fomo ranges inside trend channels.

The Cryptos market is simply too small, too volatile and with too much risk of short term manipulation and reaction to news to be ready for prime time institutional traders.

My stealth advisor a multi millionaire trading expert has never owned or traded any type of crypto but will humor me from time to time applying his technical analytics.

I am working on a secure AI ML project with his technology he gets a residual on and I like BTC for stakeholder value transfer and perhaps holding 5% physical Gold and 5% BTC as a black swan catastrophic loss reserve... i.e. the Biden Bernie bros turn over the control of the USA to CCP BLM Antifa terrorists who seize all NYC and Chicago markets "for the good of the people" but raid all accounts for their personal profit like Beijing Bidens Kickback King son Hunter... Yes that type of black swan event where BTC held securely in an NGrave Zero wallet that you could destroy as long as you have the recovery codes committed to memory and saved in an encrypted file in a secure offshore email and can use a blank NGrave Zero to recover your BTC when you reach a safe country to do so.

HTH...
 
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Deepdiver

Crow
Gold Member
The US gov just announced yesterday how they will be going after privacy cooins like monero and most likely and bitcoin mixers.
i would stay away from any mixers unless you really need to use it or you might be labeled a terrorist at some point in the future passing through the usa
 

redbeard

Hummingbird
Moderator
The US gov just announced yesterday how they will be going after privacy cooins like monero and most likely and bitcoin mixers.
i would stay away from any mixers unless you really need to use it or you might be labeled a terrorist at some point in the future passing through the usa
Unlike generic custodial mixing companies, Samourai and Monero are both open source software projects, just like Bitcoin Core. Come & take it.
 

Blade Runner

Kingfisher
Even for cheaper condos, which I recently looked into in FL, I found that the HOA monthly was ridiculous unless you were going to be there year round. It's like an annoying car payment for a car you don't even use. The common ownership thing seems a huge hassle, unless you are 75+ and don't care that much anyway, about anything anymore.
 

JayJuanGee

Crow
Gold Member
I finally jumped into the Bitcoin pool. I heard about it years ago here on the forum and never participated because of divorce related finance issues. Well, in the past few weeks I have read through almost this entire thread, watched quite a few videos regarding Bitcoin on YouTube and read "The Bitcoin Standard" by Saifedean Ammous. It all makes for a very compelling argument ... or I may be a slave to my emotions and the fear of missing out (FOMO). I hope and pray it is the former and not the latter.
Whoaza, Caractacus!!

That's a lot of information to attempt to digest. Hopefully, you will find some places to be interactive while you learn about bitcoin and invest in it, such as this thread, and of course, there are other bitcoin related interactive channels out there, too. It can take a while to really get comfortable with whatever allocation you choose, and how you choose to allocate risk.

Of course, you will likely notice that I have made it a point many times in this thread to attempt to personally tailorize your bitcoin approach to your personal circumstances, which would also account for your personal timeline, which you have asserted to be 10 years or more.. .and surely you likely have attempted to account for your cashflow, your other investments, your view of bitcoin compared with other investment options, your risk tolerance, and your time, skills and abilities to learn along the way, to tweak your plans as you learn, reallocate from time to time, if warranted and/or decide the extent to trade - or not, even if your initial stages might merely be to ease into bitcoin with a kind of DCA over time until you reach an accumulation goal that is comfortable for you and your circumstances.

And, sure there are some other guys in this forum who are involved in other cryptos too, which you have likely seen a few of us, including yours truly suggest to mostly ignore those other coins until maybe sometime down the road after you have established your BTC position.. and then if you want to fuck around or gamble with shitcoins, then that would be a discretionary matter for you that is likely better saved for later down the road, if at all (I mean if you are into gambling and fucking around with ponzi schemes, scammers, vapourware and trying to figure out which is which, or at what poing they are going to exit scam you before you can get out of that crap and into bitcoin) :D :D :D.

I purchased one Bitcoin and it is currently being held in my account on Coinbase. I need to purchase a wallet. Is the Legder Nano S still the recommended choice?
There have been some people recommending the Ledger Nano S, and I find that product to be a bit cumbersome, in comparison to the Trezor... - either the Trezor One or the Trezor Model T. In other words, I do believe that the Trezor is a better product and a better interface. You could use, both too. The more value you accumulate, the better it might be to get familiar with a variety of products and maybe to keep some of your coins in differing places.

I personally start to recommend that people start to get into some kind of hardware wallet once they have more than a few thousand in value in bitcoin, and surely keeping your value on exchanges has a variety of risks - even though it may well be good to have relationships with one or more exchanges in order that you would have a few liquidation avenues that you use and that you might want to have available in the future.

My plan is to dollar cost average a few hundred dollars per month and throw in larger amounts with any funds earned via overtime at work. I am not due to retire for nearly ten years so I don't need this money anytime soon.
10 years is a really great timeline to be stacking sats - and building up the quantity of your BTC.

I currently max out retirement accounts at work, pay off my credit card in full every month, have one condo fully paid off and am shooting to have a second paid off in five years or less. I will be done paying child support in a few years so that will help as well. I recently started a side job where I am paid a fair amount in tips. I would like to create a qr code and print it up and laminate it so people could tip in Bitcoin. Any advice on how to do that? Thanks to everyone who contributed to this thread.
I surely would recommend keeping your tips going to a private wallet rather than on an exchange (such as Coinbase), so you could start using a QR code once you get a hardware wallet, or if you want to start before you get a hardware wallet, you could sign up for some software wallet, such as blockchain.com, or greenaddress.it.

Some people in the bitcoin space are not so excited about blockchain.com since they have not even incorporated segregated witness, yet, and even though I am currently using blockchain.com, I am thinking that I should migrate to using greenaddress.it instead... but I have not done it yet. Sometimes it takes a bit of time to migrate off of some system that a guy had already been using, even if there are likely better choices out there... and that is how I feel about blockchain.com, currently.

Coinbase, also, has a bit of a questionable reputation in harder core bitcoin circles, so maybe look into Gemini.com, https://www.swanbitcoin.com, river.com, and/or https://cash.app/help/us/en-us/3101-buying-bitcoin as other possible ways to get bitcoin or to supplement how you get bitcoin.

Edit: I agree with redbeard's mentioning of Samouri and his mixing suggestions or thoughts about mixing (or looking into mixing and other attempts at privacy preservation).. even though I don't personally use Samouri because they do not have an IOS version of their software.

Regarding concerns about USA government guidelines about going after certain kinds of privacy coins.. it seems to be a stretch to suggest that mixing services are being targeted, even though you can never really put anything past some govt attempts at overreach in some circumstances.. but should not stop you from engaging in conduct that you believe is good for your own situation in terms of maintaining your own stash in a way that is comfortable to you, rather than getting scared into NOT looking into the matters for yourself. One thing about bitcoin is that it can take a whole hell of a lot of time to learn about it and to practice with it and to keep on learning, while some of the better ways to learn is by practicing and getting comfortable with a variety of storage options, including sometimes the nervousness that might come when you first send coins.. and maybe wanting to do a smaller practice amount first in order to ensure that you are doing it correctly... and being your own bank things like that.
 
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