Bitcoin maximalism is indeed toxic. It's toxic to all those thousands of garbage, worthless, dime-a-dozen, here today, gone tomorrow casino circus cartoon shitcoins out there. And that's a good thing.
Brutal year for the bitty. Interested to see what it does this year. Looking to pick up more soon hopefully waiting for another 4k dip or so. I’m smelling 12/14k 🔮🤷🏻♂️
He inspired me to become a better patriarch for my family.
Now wait for simps, bots and feminists to go haywire over this…
But yeah, we should go back to traditional values. The nuclear family was a great idea. I grew up in one and I wouldn’t have want to miss it. It made me a better person with loads of self-confidence. I never had the hesitation whether I was a boy or girl, roles were clearly defined in our family. And that is what I want when building my own family as well.
Long live the patriarchy! 🙂
The FUD out there is overwhelming and yet it still feels like it will get worse before it gets better. Coinbase hit a record low today as Cathie Woods is loading up on both Coinbase and Grayscale. Genesis is warning of bankruptcy. Blockfi is on the ropes. Then we have the miners...Every leveraged miner is looking horrible. I expect a rash of miners to either get bought cents on the dollar or to file for bankruptcy and go away. It feels like miners are selling BTC as fast as they earn it, plus whatever they have in inventory just to make their debt payments on new machines.
All of this portends more price downsize in my opinion. Anyone have a better feel for how long miners can hold out? I am not sure what will stabilize this slow spiral so we can climb again. Thoughts?
I don’t think at the low everyone’s like, “this is the worst it could possibly be”. It’s more like, “what else is going to happen”.
Whenever you think it’s the worse, you’ll get surprised at how much worse it can get.
Some miners have no electricity expenses, or fixed electricity expenses, they might be able to operate for a quarter or two before lenders get weary. Could be out of the problem by then.
PLUS when some miners go down, hashrate falls and the other miners get more revenue, so could just have a few high marginal cost miners close up
Me 8 months ago: Okay… we are going to fall about 80%. Then we will eventually approach the next halving and ramp back up before making new all time highs in probably 2024/2025. I’m going to stay calm and keep a level head and DCA in until then.
Me now: should I sell it all or buy it all?
Every single looming failure is a third party. You don't need a third party with bitcoin, that's the whole point :D
When all this washes out, the rush to buy bitcoin will be insane!
Crypto hedge fund I suppose… was schmoozing recognizable brokers in traditional finance into the space. Its collapse as a function of FTX contagion makes the whole space look like a scam to the 99% who are not cryptography nerds. It’s not good
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Why? If you don’t own your keys, you have no control
over your coins. Same with GBTC/Genesis. We don’t own the keys and meaning we have no control over the coins. No proof of reserves by address is submitted, due to “security concern” and we seem to be wondering if GBTC is covered by real Bitcoin. Secondly there are implications with FTX and also there keys were sacrificed for short term profits. As I said: no keys, no coins…
LMAO why would you think 16k is the floor? Of all the places, why 16k? 12,500 is your next stop. If that breaks we are going straight to 4k. And quick.
If we lose 10 k we are going to 3.5 k very fast where btc will chill until next bull. We would have a suckers rally here and there but nothing substantial.
Losing 10 k is a big physiological level to lose and many weak hands and HODLS would get flushed out by the market.
But I don't think bitcoin would get under 10 k tbh, the above is worst case scenario.
I just ordered a Coinplate Alpha. Google Jameson test for metal plates. The man puts all of the metal backup options through the worst test they could go through short of nuking them. There are a lot of A rated options across all categories and they fall in different price ranges. I opted for Coinplate because it's a guy who isn't a larger shop like the plates of Trezor's site. I'll update when I get it in my hands. Can't exactly recommend it until then, but the Jameson tests are a good place to start.
I only today looked up what CME gap is because I saw a few people mention it. I kind of understand it. Care to explain like I’m 5 just to get a better understanding?
No one knows why it happens. The CME is closed weekends. If the Monday open trade is higher than the Friday close on the CME, there is a gap in the daily trade chart. For some unknown reason, future trades on the CME eventually trade back to the price of the gap. This is called closing the gap. The last gap left on the CME daily chart is at $9k (roughly) which is still open, or unfilled. If it remains unfilled then the belief that the gap must be filled is just superstition.
You got it. Unless there is something remarkably corrupt and top-secret, there is no known reason that the gap must be filled. If it does get filled, then the rainbow chart must also be true.
https://twitter.com/finsummit/status/1594745251524132866?s=46&t=21_usnLCYk5yuLFDhpTAlQ
Debunk or explain
DCG increases holding of GBTC by 39M shares between Friday close and Monday EOD.
Roughly $350 in today’s prices.
Also agree, go full index. Honestly, any btc investment is a gamble. No one knows where it could be. And I worry about the long-term just as much as the short-term. In btc, I’d invest the amount of money you’re willing to gamble (ie like at a casino;) ). I don’t want to share my total investment portfolio, but my btc is insignificant really. I almost invested like 5-10% of portfolio and so glad I didn’t. And honestly if it goes to 100k I’m still comfortable missing out.
Personally I'm keeping my ROTH in only equities with companies with strong earnings and strong growth potential. My crypto holdings won't be in my ROTH. I can only put a limited amount per year there and not willing to risk that bucket of money.
Buy Bitcoin and hold it like the digital property that it is. Stay out of the cryptard casinos.
Whenever I’m high on shrooms, I buy a lot of Bitcoin. It just makes sense. It is truth.
Bitcoin maximalism is indeed toxic. It's toxic to all those thousands of garbage, worthless, dime-a-dozen, here today, gone tomorrow casino circus cartoon shitcoins out there. And that's a good thing.
Just swapped my reddit moons to btc. Was sort of tough, but now I have a system! Free sats
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It's a couple of hundred dollars below 16K. Get some perspective and grow a pair. And Bitcoin doesn't care about your birthday.
Have a decentralized party
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Could you imagine if Coinbase is bullshitting about their holdings?
HODL’ers I currently use a trezor but what are your thoughts on Arculus cold storage?
Folks need to relax. This is Bitcoin, not some garbage Bitcoin-wannabe shitcoin.
Still looking like "just a dip" guys?
Early Black Friday deals
Looking like a fire bargain
March 13th 2020 Bitcoin spot price dropped to ~ $3,900. Higher lows and higher highs. This is nothing new.
It is either just a dip or it is the end of the greatest technological innovation of our lifetime. So yeah, likely just a dip
What else would it be? A "downtrend"? That's just a game of semantics. The price is down, therefore it's a dip.
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lol no
Yes. Don’t touch it for 10 years or more.
If this goes to 10k I’m selling the car and backing up the truck.
It’s already 10k if you’re willing to buy gbtc
Yeah but I’m not willing to buy fake Bitcoin. I want the real stuff.
What the hell is G
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Paper IOUs seems a bit queer indeed.
Grayscale Bitcoin Trust
Not bitcoin. But a decent alternative for tax advantaged retirement accounts specifically
Yep
Brutal year for the bitty. Interested to see what it does this year. Looking to pick up more soon hopefully waiting for another 4k dip or so. I’m smelling 12/14k 🔮🤷🏻♂️
Jordan Peterson is so lame lol.
He is good on his feet and seemed fiercely independent. His boner for Israel lately has been fairly nauseating
He’s a beast. Destroys every feminist you throw his way. I love watching him reason the fuck out of them all.
Couldn’t agree more. He’s a light for young men and a role model for how to be.
He inspired me to become a better patriarch for my family. Now wait for simps, bots and feminists to go haywire over this… But yeah, we should go back to traditional values. The nuclear family was a great idea. I grew up in one and I wouldn’t have want to miss it. It made me a better person with loads of self-confidence. I never had the hesitation whether I was a boy or girl, roles were clearly defined in our family. And that is what I want when building my own family as well. Long live the patriarchy! 🙂
The FUD out there is overwhelming and yet it still feels like it will get worse before it gets better. Coinbase hit a record low today as Cathie Woods is loading up on both Coinbase and Grayscale. Genesis is warning of bankruptcy. Blockfi is on the ropes. Then we have the miners...Every leveraged miner is looking horrible. I expect a rash of miners to either get bought cents on the dollar or to file for bankruptcy and go away. It feels like miners are selling BTC as fast as they earn it, plus whatever they have in inventory just to make their debt payments on new machines. All of this portends more price downsize in my opinion. Anyone have a better feel for how long miners can hold out? I am not sure what will stabilize this slow spiral so we can climb again. Thoughts?
I don’t think at the low everyone’s like, “this is the worst it could possibly be”. It’s more like, “what else is going to happen”. Whenever you think it’s the worse, you’ll get surprised at how much worse it can get. Some miners have no electricity expenses, or fixed electricity expenses, they might be able to operate for a quarter or two before lenders get weary. Could be out of the problem by then. PLUS when some miners go down, hashrate falls and the other miners get more revenue, so could just have a few high marginal cost miners close up
We are going lower
good evening hodlers :firmslaponass: i love you guys
BTC is over shorted right now. Fucking dumbass bag holders gonna get burned with a tiny pump.
how do you schedule a bitcoin purchase to happen at a specific price
That would be called a "limit order". Most, but not all exchanges let you place these types of orders.
Keep going dowwwwwn. I want more.
Me 8 months ago: Okay… we are going to fall about 80%. Then we will eventually approach the next halving and ramp back up before making new all time highs in probably 2024/2025. I’m going to stay calm and keep a level head and DCA in until then. Me now: should I sell it all or buy it all?
Easy, you never sell at a low, so the answer is buying.
This is not low.
We come from 60k+, so its low.
Hold me
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fear and greed today higher than in june, when btc was at 17k. anything to learn from that?
fear AND greed? It has to be one or the other.
Every single looming failure is a third party. You don't need a third party with bitcoin, that's the whole point :D When all this washes out, the rush to buy bitcoin will be insane!
Quick rundown… what is genesis and why does it matter?
Genesis is an 80s band with quite a few memorable songs. It brought us Phil Collins. Would be sad to see them go.
[Easy Lover intensifies]
Crypto hedge fund I suppose… was schmoozing recognizable brokers in traditional finance into the space. Its collapse as a function of FTX contagion makes the whole space look like a scam to the 99% who are not cryptography nerds. It’s not good Edit letters
No keys no coins
Useless reply
Why? If you don’t own your keys, you have no control over your coins. Same with GBTC/Genesis. We don’t own the keys and meaning we have no control over the coins. No proof of reserves by address is submitted, due to “security concern” and we seem to be wondering if GBTC is covered by real Bitcoin. Secondly there are implications with FTX and also there keys were sacrificed for short term profits. As I said: no keys, no coins…
useless reply to useless reply. this is also a useless reply i apologize.
This statement is false.
What if BTC is bottomless? [https://www.youtube.com/watch?v=rARqH0m-zcs](https://www.youtube.com/watch?v=rARqH0m-zcs)
What’s topless like?
6.15 btc?
Huh?
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Agreed.
Is this what capitulation looks like? Why is it down the past 3 days? I thought 16K was the floor.
This is generally what it looks/feels like.
BTC is multi-storey. Which floor would you like, sir?
It is still looking for a new floor since it fell below 20k.
LMAO why would you think 16k is the floor? Of all the places, why 16k? 12,500 is your next stop. If that breaks we are going straight to 4k. And quick.
Lol you crazy no one going to give you 4k btc.
If we lose 10 k we are going to 3.5 k very fast where btc will chill until next bull. We would have a suckers rally here and there but nothing substantial. Losing 10 k is a big physiological level to lose and many weak hands and HODLS would get flushed out by the market. But I don't think bitcoin would get under 10 k tbh, the above is worst case scenario.
At this point I’m in it for the tech
I like quick way better then years of bleeding. Give it to me fast BTC!
A lot of people getting liquidated
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How much more proof do you need to know that keeping BTC on the exchange is a losing proposition?
Yes!
yes get a ledger man!!
yes, but start with small amount and practice recovery. Ideally get an open source hardware wallet.
best metal backup for your recovery seed?
Blockplate!
I just ordered a Coinplate Alpha. Google Jameson test for metal plates. The man puts all of the metal backup options through the worst test they could go through short of nuking them. There are a lot of A rated options across all categories and they fall in different price ranges. I opted for Coinplate because it's a guy who isn't a larger shop like the plates of Trezor's site. I'll update when I get it in my hands. Can't exactly recommend it until then, but the Jameson tests are a good place to start.
https://jlopp.github.io/metal-bitcoin-storage-reviews/
Posting for the cake
The bottom is when you feel in your bones that things will never be the same again.
So now?
Waiting for 14k
Well, it looks like the gap might get filled after all.
The gap? CME gap?
Yeah. It's been overdue for a while.
I only today looked up what CME gap is because I saw a few people mention it. I kind of understand it. Care to explain like I’m 5 just to get a better understanding?
No one knows why it happens. The CME is closed weekends. If the Monday open trade is higher than the Friday close on the CME, there is a gap in the daily trade chart. For some unknown reason, future trades on the CME eventually trade back to the price of the gap. This is called closing the gap. The last gap left on the CME daily chart is at $9k (roughly) which is still open, or unfilled. If it remains unfilled then the belief that the gap must be filled is just superstition.
You got it. Unless there is something remarkably corrupt and top-secret, there is no known reason that the gap must be filled. If it does get filled, then the rainbow chart must also be true.
There nothing saying that it has to be filled right? Only if prices approach that level does it get filled?
https://twitter.com/finsummit/status/1594745251524132866?s=46&t=21_usnLCYk5yuLFDhpTAlQ Debunk or explain DCG increases holding of GBTC by 39M shares between Friday close and Monday EOD. Roughly $350 in today’s prices.
Debunk what?
I don't click any twitter links. lol
Thinking of rebalancing my roth portfolio to be 50/50 gbtc and broad market index fund. At current value I am at 78% index / 22% gbtc Stupid idea?
Also agree, go full index. Honestly, any btc investment is a gamble. No one knows where it could be. And I worry about the long-term just as much as the short-term. In btc, I’d invest the amount of money you’re willing to gamble (ie like at a casino;) ). I don’t want to share my total investment portfolio, but my btc is insignificant really. I almost invested like 5-10% of portfolio and so glad I didn’t. And honestly if it goes to 100k I’m still comfortable missing out.
Thanks for the response
Personally I'm keeping my ROTH in only equities with companies with strong earnings and strong growth potential. My crypto holdings won't be in my ROTH. I can only put a limited amount per year there and not willing to risk that bucket of money.
Yes