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Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)

surlybevo

By surlybevo
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Nice Guy Eddie

Nice Guy Eddie 13507

Posted
Posted
11 hours ago, Party_Taco said:

Would love a buying opportunity, so either way I’m good...

I laugh every time I play poker with a buddy here who made millions off BTC. Last three months he’s like “Shit is about to half... just wait.”

He’s probably right, but I’ve been waiting for months now...

Crypto is full of people who wait for 50% drops. Don't get me wrong, I think it's good to keep cash on the sidelines when those opportunities present themselves. However with the influx of money from corps and institutional investors, I don't know if 50% drop is feasible right now. I find it hard to recommend buying at 50k though especially since we're barely 2 months removed from crossing 20k. 

 

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GRHorn

GRHorn 105

Posted
Posted
2 hours ago, ajax said:

I wonder why RIOT is leaving MARA in the dust.

Not sure. Cooler ticker? The big difference to me is Mara proposed a North American miner consortium to help censor blocks which is bullshit, and Riot has Austin based hard core bitcoiner on advisory board.
 

In any case up another 31% today. Should sell but it keeps trading in line with BTC price, just higher beta. Sitting on this biggest score of my life is getting harder and harder. 

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Nice Guy Eddie

Nice Guy Eddie 13507

Posted
Posted
1 hour ago, Southland said:

Is anyone here investing in bitcoin inside of an IRA? I have a 401k I'm going to be rolling over and would like to put some of it into bitcoin.

Is that an option for you? My IRA doesn’t have a straight forward bitcoin option unless I buy stock in a company that is somehow tied to crypto. 

 I’ve wanted to buy a bit more bitcoin even though I don’t have the cash right now.  I’m bouncing around an idea of a 401k loan, buy the bitcoin I want, and then pay the loan back within a year.  While not exactly your scenario, it’s a bit like using my retirement money to purchase bitcoin. Then quickly replace the retirement funds.

Obviously there are some risks with this idea. if things started going sideways with my job, salary or bitcoin price, I can easily liquidate my current bitcoin for a good profit.

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Southland

Southland 35

Posted
Posted
32 minutes ago, Nice Guy Eddie said:

Is that an option for you? My IRA doesn’t have a straight forward bitcoin option unless I buy stock in a company that is somehow tied to crypto. 

 I’ve wanted to buy a bit more bitcoin even though I don’t have the cash right now.  I’m bouncing around an idea of a 401k loan, buy the bitcoin I want, and then pay the loan back within a year.  While not exactly your scenario, it’s a bit like using my retirement money to purchase bitcoin. Then quickly replace the retirement funds.

Obviously there are some risks with this idea. if things started going sideways with my job, salary or bitcoin price, I can easily liquidate my current bitcoin for a good profit.

In my very quick research I've found a few companies like Bit IRA, Bitcoin IRA, and Equity Trust that seem to specialize in self directed IRAs for investing in bitcoin, but it seems like the fees on them are pretty high. I'm doing more research and will probably reach out to a financial adviser friend of mine to see if he has any advice, but was just wondering if anyone on here was already doing something like this.

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bernorange

bernorange 8359

Posted
Posted (edited)

Binance won't even let me log in anymore.  I created an account a few years back and some problem happened with my password and they wanted me to send them a picture of myself next to a tree and shit to restore access.  It was beyond ridiculous.  

Edited by bernorange
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Nice Guy Eddie

Nice Guy Eddie 13507

Posted
Posted
6 minutes ago, bernorange said:

Binance won't even let me log in anymore.  I created an account a few years back and some problem happened with my password and they wanted me to send them a picture of myself next to a tree and shit to restore access.  It was beyond ridiculous.  

The regular Binance won't work with Americans anymore. There is a Binance US. 

But many sites want to play nice with the US govt so you have to provide personal info like you would with any financial institution. 

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Shaggy3.0

Shaggy3.0 1695

Posted
Posted
1 hour ago, Nice Guy Eddie said:

I know we just recently surpassed the 50k milestone for Bitcoin, it just passed another large milestone: overall market cap in excess of $1T.

and while typing this and going back to verify some #s, I see it went past 55k.

It blew past 56K. Now holding there.

 

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Nice Guy Eddie

Nice Guy Eddie 13507

Posted
Posted
6 minutes ago, BearSchlong said:

So to get BNB into BTC from the legacy binance site, do I just use a VPN to spoof my location?  Will that work?  Just realized I have a decent chunk in that wallet.

Create a Binance.US account. Transfer the BNB from binance.com to the Binance.US site.  Then sell it from there.

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Reagan1k

Reagan1k 3024

Posted
Posted
22 minutes ago, Nice Guy Eddie said:

Create a Binance.US account. Transfer the BNB from binance.com to the Binance.US site.  Then sell it from there.

I may be in this same boat, but I can't log into my legacy Binance account.  Says I have 3 password attempts left, and I've submitted for an email reset and nothing comes through.  When I try and use the app - it blocks me due to being in US.  Is that old wallet gone if I can't figure out the password on my own?

I'm not even sure if there is anything left in it, but the above posts jogged my memory.

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Nice Guy Eddie

Nice Guy Eddie 13507

Posted
Posted
1 minute ago, Reagan1k said:

I may be in this same boat, but I can't log into my legacy Binance account.  Says I have 3 password attempts left, and I've submitted for an email reset and nothing comes through.  When I try and use the app - it blocks me due to being in US.  Is that old wallet gone if I can't figure out the password on my own?

I'm not even sure if there is anything left in it, but the above posts jogged my memory.

You will have to figure out how to log onto Binance.com. You can't pull the coins from them to Binance.US.  You have to send from binance.com.

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GRHorn

GRHorn 105

Posted
Posted

Sold about 1/5 of my stack of $riot calls yesterday in 401k. A 50x win. Unbelievabke. Plan on phasing out over the next few months into non crypto stuff like weed etf MSOS and smaller biotechs. 
 

On 2/16/2021 at 11:10 PM, ChiTownDoc said:

Sold all mine out.  I’ll buy back in at sub 45k.  Up a good deal so if I need to buy at 55, I’m still ahead.  Funny thing is in stocks I stay in but with BTC I love jumping in and out.  Haven’t been burned yet but this post means we never dip under 45 again.  Congrats!

Decision time? 

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Nice Guy Eddie

Nice Guy Eddie 13507

Posted
Posted
11 minutes ago, BearSchlong said:
1 hour ago, Nice Guy Eddie said:
Create a Binance.US account. Transfer the BNB from binance.com to the Binance.US site.  Then sell it from there.

Tried that but live in Texas, it wouldn't let me.

That's right. I accidentally entered Houston, TN and I was allowed to create an account. I didn't realize the mistake until later on.

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Tailgate

Tailgate 3021

Posted
Posted
37 minutes ago, GRHorn said:

Sold about 1/5 of my stack of $riot calls yesterday in 401k. A 50x win. Unbelievabke. Plan on phasing out over the next few months into non crypto stuff like weed etf MSOS and smaller biotechs. 
 

Decision time? 

Curious, are you phasing completely out of crypto? And nice call on RIOT...it may have been your post or someone’s who got me in that and MARA and I am still holding...not close to 50x...but some nice returns atm.

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GRHorn

GRHorn 105

Posted
Posted
21 minutes ago, Tailgate said:

Curious, are you phasing completely out of crypto? And nice call on RIOT...it may have been your post or someone’s who got me in that and MARA and I am still holding...not close to 50x...but some nice returns atm.

No. 
 

After thinking about it, I just wanted to take some of that investment off the table. That tranche alone is 10x of my original investment. Riot is just very overvalued, which is great, but I was concerned that there could be some short report come out overnight and it would be down 50%. Less likely after WSB burned those shorts but still.
 

I’m still in 95% of my crypto investments. 

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Nice Guy Eddie

Nice Guy Eddie 13507

Posted
Posted (edited)
3 hours ago, BearSchlong said:

Well I "found" a surprisingly large amount of BNB that is now in my wallet.  Gonna buy the wife something nice, unless the feds bust down my door for lying about my address.

Congrats. Good times,  everyone is making money.  

Edited by Nice Guy Eddie
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Tailgate

Tailgate 3021

Posted
Posted

We all likely wish we had bought more. BTC is something though...even buying today your fine. This is just my opinion.

With only 21,000,000 coins possible...there is ‘value’ there...it’s only going up..potentially even more insane. IMO. Look at the recent backers and companies ‘dabbling’ in it.

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GRHorn

GRHorn 105

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Posted
34 minutes ago, Tailgate said:

May be somewhere back on the thread. Do most of y’all hold your currency on a drive like Ledger...or do you keep it online via Coinbase or other? Thinking about off-lining it but would hate to lose a small piece of hardware.

I held mine on a Ledger for a couple years but I too was concerned about my dumb ass messing it up. I ended up moving my coins to a multisig wallet setup. I chose Casa, the cheapest option is the gold plan is $10/month. You get a 2of3 multi signature wallet. It goes from there to 3 out of 5 keys for Platinum at $150/month. There’s a lot of resources on the site to help you fully understand the security options. https://keys.casa/
 

The other big one that is well trusted throughout bitcoin community is Unchained Capital. They’re actually based out of Austin. https://unchained-capital.com/
 

 

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GRHorn

GRHorn 105

Posted
Posted (edited)
47 minutes ago, Tailgate said:

May be somewhere back on the thread. Do most of y’all hold your currency on a drive like Ledger...or do you keep it online via Coinbase or other? Thinking about off-lining it but would hate to lose a small piece of hardware.

Most people though are probably fine with Coinbase holding their coins, but I liked learning about the self custody process and personally enjoy holding large sums of money and knowing that no one can tell me what to do with it (or not do with it). 
 

I realize that might make me weird to value that but whatever. 

Edited by GRHorn
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Nice Guy Eddie

Nice Guy Eddie 13507

Posted
Posted

I do both. You can lose the Ledger device, or have it malfunction and still be ok. But you will need  the restore code words. Store those codes elsewhere if not in 2+ safe locations away from the device itself. 

My guess is that someday there is major hack of one of the top exchanges AND they will be unable to make good on the stolen coins. Because of that, I wouldn’t store all your coins with one exchange/custodian. Spread around the risk some. It would suck to lose 20% of your coins but imagine 100%.

Many early adopters are adamantly opposed to storing on exchanges but many of them got burnt in the Mt Gox hack/theft.

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