Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)

[fakebusiness 129]

I feel like this is go

13 hours ago, T’Boo Ted Marshall said:

Troof. I yanked my BTC at $14k because it was there for years, so when it go to BE I bounced.

I put it in ETH and it’s doing great. I’m leaving it. I try not to think about what the value would be had I left my original $ in BTC.

At this point just put $ into BTC/ETH and che back in 6 months or a year.

[Acropora 856]

I've been taking advantage of the blockfi/voyager accounts for the high interest on usdc.   Seems like an easy way to park some cash and at the rates, better then conventional hard money loan.  I've got referral codes if anyone needs.  

I am pretty impressed with voyager's interface.  Mainly using coinbase pro but it's nice to have access to more alts without the clunkiness of the bittrex interface.  

Thanks for the riot tip @GRHorn.   Didn't do as well as you but probably going to take some profits and wait for a pullback

 

[GRHorn 105]

23 minutes ago, Acropora said:

I've been taking advantage of the blockfi/voyager accounts for the high interest on usdc.   Seems like an easy way to park some cash and at the rates, better then conventional hard money loan.  I've got referral codes if anyone needs.  

I am pretty impressed with voyager's interface.  Mainly using coinbase pro but it's nice to have access to more alts without the clunkiness of the bittrex interface.  

Thanks for the riot tip @GRHorn.   Didn't do as well as you but probably going to take some profits and wait for a pullback

 

That’s awesome. Maybe take a little but consider leaving some on to let ride. A lot of momentum behind it currently. We know microstrategy is currently buying a billion dollars more. I think we have pretty smooth sailing through 60k. It’s not outside the realm of possibility for us to get to 80k before we see the next big pullback like we saw at 40k. 

[Trey3216 15,346]

1 hour ago, Acropora said:

I've been taking advantage of the blockfi/voyager accounts for the high interest on usdc.   Seems like an easy way to park some cash and at the rates, better then conventional hard money loan.  I've got referral codes if anyone needs.  

I am pretty impressed with voyager's interface.  Mainly using coinbase pro but it's nice to have access to more alts without the clunkiness of the bittrex interface.  

Thanks for the riot tip @GRHorn.   Didn't do as well as you but probably going to take some profits and wait for a pullback

 

I’m going to let RIOT run a little this week and then I’m buying some way out of the money short expiry puts with a few thousand $$.  Then I’m going to take my winnings and buy a boatload of LEAP calls.  

[bernorange 8,362]

What do you folks think about Cardano vs Bitcoin/Etherium?

[bernorange 8,362]

lol.. I was able to log in to Binance.com.  I have 0.11334266 BNB there.  Roughly $29 apparently.  Binance won't let me convert the BNB to anything else because conversions require a higher minimum amount than what I've got.  Can't transfer BNB directly as neither Coinbase nor Kraken offer it.

Does binance.us charge the same fee structure for conversions/transfers as binance.com?

[GRHorn 105]

When fuckheads like this are against it, you’re on the right side. 

 

 

[bernorange 8,362]

We must not allow a (bitcoin) mine(ing) [shaft] gap!

[ajax 2,617]

Sheesh. So much for the Sunday dip. 

[Sejjr 3,246]

On 2/20/2021 at 12:10 PM, bernorange said:

What do you folks think about Cardano vs Bitcoin/Etherium?

Cardano made a big jump the other day after Gene Simmons from KISS made a tweet saying he was buying 300K of it. He is a fan, apparently. I have a little ADA and ALGO, both which are attempting to be better versions of ETH. 

https://twitter.com/genesimmons/status/1362591435489308673?s=20

[Shaggy3.0 1,695]

10 hours ago, ajax said:

Sheesh. So much for the Sunday dip. 

It dipped to 55200. Now back up to 56200. I expect to have a nice day tomorrow. 

Edited February 22, 2021 by Shaggy3.0

[bernorange 8,362]

Whole lot of red this morning.  BTC down to 53600 as of the moment.

[Acropora 856]

I see it as a buying opportunity, especially on some of the alts that I've been interested in.  I think people are taking some profits off the board and it's pretty normal.  Then again, this could presage the fall to zero for all I know...

What do people think about ENJ?  Gaming coin that will have embedded BTC rewards in a game that's coming out in March?  Gaming is a huge potential use case for crypto.  Will be interesting to see if the game is actually enjoyable...then again, Pokemon Go made a ton of money...as long as the game has some type of addictive factor, could make a lot of money.

https://www.altcoinbuzz.io/cryptocurrency-news/product-release/enjin-enj-powered-age-of-rust-to-launch-with-1-mn-crypto-bounties/

[bernorange 8,362]

Apparently all you really need to do to make money in crypto is follow Elon Musk tweets.

 

[Shaggy3.0 1,695]

1 hour ago, bernorange said:

Whole lot of red this morning.  BTC down to 53600 as of the moment.

Yep.  Down to 49500.  Oops.

 

 

[Nice Guy Eddie 13,512]

If you watch the youtube channel, CryptoRUS, he was talking over the weekend about an extremely large amount of BTC being transferred into exchanges over the weekend. He blames a mining pool, F2Pool for dumping a large number their mined bitcoins to sell. Effectively 4 days worth of ALL mined bitcoins at once. Presumably they were selling them.

 

[NYTransplant 145]

1 hour ago, bernorange said:

Apparently all you really need to do to make money in crypto is follow Elon Musk tweets.

 

Any chance you can tell me what they are before he posts them?

[bernorange 8,362]

18 minutes ago, NYTransplant said:

Any chance you can tell me what they are before he posts them?

Not I.  I don't follow FB or Twitter.  I find out about Musk's tweets after the markets have moved.  

[DonkeyCigars 143]

Not sure if this is the right place for this, so I'll cross post it a few places, but does anyone do anything with non-fungible tokens, specifically NBA TOP SHOT? From what I understand it's like cryptocurrency (powered by blockchain) but for basketball trading cards. I bought the cheapest Luka Doncic (assist) and a Joel Embiid on a whim just now after reading about it twice today, after never having heard of it.

https://en.wikipedia.org/wiki/Non-fungible_token

https://www.nbatopshot.com/

[Trey3216 15,346]

On 2/20/2021 at 1:32 PM, Trey3216 said:

I’m going to let RIOT run a little this week and then I’m buying some way out of the money short expiry puts with a few thousand $$.  Then I’m going to take my winnings and buy a boatload of LEAP calls.  

Welp, my theory was sound, but it was late.  I did manage to scrounge up some pocket change from one acct and buy a few Friday expiry 40 strike puts.   We’ll see if IV helps this morning.  

[Nice Guy Eddie 13,512]

Decent plunge. If it drops do 45 or so, I might have to put a buy order in. 

[ajax 2,617]

I'm so tempted to add more but I think I'm going to wait it out a little longer

[closetohumping 17,442]

Bought some dip yesterday.  Looks like the right move.  

[GRHorn 105]

3 hours ago, closetohumping said:

Bought some dip yesterday.  Looks like the right move.  

That’s usually the right move. I’m only adding small amounts, but I buy a token amount through CashApp every big dump. 

[Shaggy3.0 1,695]

8 minutes ago, GRHorn said:

That’s usually the right move. I’m only adding small amounts, but I buy a token amount through CashApp every big dump. 

Same.

 

And now I'm on crypto.com to scoop up DOGE.  I need to break my tendency of buying high selling low.

 

[closetohumping 17,442]

33 minutes ago, Shaggy3.0 said:

Same.

 

And now I'm on crypto.com to scoop up DOGE.  I need to break my tendency of buying high selling low.

 

Kind of funny as I've got it set to autobuy a small amount every month these last couple of years.  Was going to shut it off but was too lazy to do so.

[Blotto 23,517]

Quote

What Happened: The largest crypto exchange in Southeast Asia, Philippines-based PDAX, experienced a technical failure that led to Bitcoin trading at $6,000 – an 88% discount to its current price.

Following the incident, PDAX asked its customers to return their Bitcoins, threatening legal action, a local news outlet Bitpinas has reported.

According to the exchange’s CEO, the system error was not due to a hack but a technical “glitch” caused by a massive surge in trading activity.

Why It Matters: The initial outage is said to have taken place on February 18; however, since then, reports have surfaced on social media of customers being locked out of their exchange accounts and being asked to “return their Bitcoin.”

“After almost 24 hours, they sent me a demand letter and SMS, requesting me to transfer back the BTC, or they “may” be compelled to take legal actions against me.” said one trader who believed his purchase was well within his rights without violating any laws or regulations of the trading platform.

Rafael Padilla, an attorney representing the affected users who are currently locked out of their accounts, commented on the issue on Facebook.

“Our client’s trade transaction was legitimate under applicable laws, decided cases, and of course according to PDAX’s very own terms and conditions/user agreement.”

According to Padilla, PDAX has opted to lock users out of their accounts because it cannot unilaterally reverse the transactions.

An official statement from PDAX claims that 95% of accounts have been restored, but according to the report, many users are still locked out of their accounts.

“It’s very understandable that a lot of users will feel upset they were able to buy what they thought an order was there for Bitcoin at very low prices. But unfortunately, the underlying Bitcoins were never in the possession of the exchange, so there’s never really anything there to be bought or sold, unfortunately.”, said PDAX CEO Nichel Gaba in a press conference earlier today. 

 PDAX's claim that there was never really anything there to be bought or sold seems inconsistent with the fact the bitcoin is in their client's accounts and PDAX asked for the BTC to be returned. Admittedly its probably easier to take  that approach instead of "we're incompetent" 

[bernorange 8,362]

Shades of mfglobal.

[bernorange 8,362]

Quote

Coinbase Global Inc., the biggest U.S. cryptocurrency exchange, filed to go public via a direct listing, in what’s anticipated to be a break-through moment for the industry.

The company won’t raise any proceeds in the transaction, Coinbase said in a filing with the U.S. Securities and Exchange Commission on Thursday.

Coinbase’s offering could be the first major direct listing to take place on the Nasdaq. All previous ones, including Spotify Technology SA, Slack Technologies Inc., Asana Inc. and Palantir Technologies Inc., were listed on the New York Stock Exchange. ...

The listing could value Coinbase at more than $100 billion, making it one of the biggest companies to go public since Facebook Inc., Axios reported.
...

https://www.bloomberg.com/news/articles/2021-02-25/coinbase-files-to-go-public-on-nasdaq-via-direct-listing-klkv2v2d

[Shaggy3.0 1,695]

well hell, coinbase should be doing well. i pay so many fees.  

to the moon!

 

[GRHorn 105]

 

[GRHorn 105]

 

[bernorange 8,362]

Cardano has actually fully recovered.

[ajax 2,617]

What are we thinking, bounce at 40k?

[GRHorn 105]

9 minutes ago, ajax said:

What are we thinking, bounce at 40k?

I think before. A newsletter I follow that has been pretty accurate has a proprietary model based on capital flows that puts a number on the floor under Bitcoin’s price. It has never been broken in the last 5 years. Last update said the floor was 39k. Essentially would take a black swan event to go below that. 

[Shaggy3.0 1,695]

Is this where we come talk each other off the ledge?  56K -> 44K is cringy--but not freak out time.  I'm using play money for BTC vs wasting it on craps milf at Winstar.  So Blue Horsehoe likes BTC at 39k?  Below that, I should have cry?

 

Edited February 28, 2021 by Shaggy3.0

[GRHorn 105]

1 minute ago, Shaggy3.0 said:

Is this where we come talk each other off the ledge?  56K -> 44K is cringy--but not freak out time.  I'm using play money for BTC vs wasting it on craps milf at Winstar.  So Blue Horsehoe likes BTC at 39k?  Below that, I should have cry?

 

This is when you don’t sell. Stop looking at crypto Twitter or the news if you need to stop thinking about it. 

[Acropora 856]

13 minutes ago, GRHorn said:

I think before. A newsletter I follow that has been pretty accurate has a proprietary model based on capital flows that puts a number on the floor under Bitcoin’s price. It has never been broken in the last 5 years. Last update said the floor was 39k. Essentially would take a black swan event to go below that. 

Hey, you have a link to that newsletter?

[Blotto 23,517]

8 minutes ago, GRHorn said:

I think before. A newsletter I follow that has been pretty accurate has a proprietary model based on capital flows that puts a number on the floor under Bitcoin’s price. It has never been broken in the last 5 years. Last update said the floor was 39k. Essentially would take a black swan event to go below that. 

 Im not predicting what BTC will do as I have no way of understanding what the fuck drives the market in the first place, but to characterize the price falling below a level it first breached in january as a black swan event seems like a poor understanding of what black swan events really are. 

[GRHorn 105]

17 minutes ago, Blotto said:

 Im not predicting what BTC will do as I have no way of understanding what the fuck drives the market in the first place, but to characterize the price falling below a level it first breached in january as a black swan event seems like a poor understanding of what black swan events really are. 

Agreed. It’s probably better stated as it would take something cataclysmic to dump the price below those levels currently. I know we were there just a month or two ago, but large amounts of money continue to flow in everyday and that’s setting a floor. At least that’s the explanation. 

[Hank Scorpio 17,729]

 

[GRHorn 105]

30 minutes ago, Hank Scorpio said:

 

 

[52-80 19,159]

back in @ 47 lets go boys

[ChiTownDoc 21,154]

Still well ahead jumping in and out but I think I’m w GR and will hold a while.  If we hit 40k I’ll dump more in but at this point happy w where I sit in terms of overall exposure.  Also super lucky that I came here and decided to get in with something substantial around 20k.  Lucky until I watch it crash to 15...

[Acropora 856]

9 minutes ago, ChiTownDoc said:

Still well ahead jumping in and out but I think I’m w GR and will hold a while.  If we hit 40k I’ll dump more in but at this point happy w where I sit in terms of overall exposure.  Also super lucky that I came here and decided to get in with something substantial around 20k.  Lucky until I watch it crash to 15...

tbh, it really depends on your long term outlook.  if you believe in the long term place of crypto as an investment vehicle, you should keep buying dips.  

imo, the place to buy and sell is in tax advantaged accounts through surrogates like gbtc, microstrat, riot, ethe.  For my main holdings, i'm hodling hard and building up coins.  I don't think 100K btc and 10K eth are out of the reasonable realm of possibility at the end of 2 years.  i think some of the other stronger alts still have a long way to go and the taxable hit on buying and selling as well as the risk of selling right before a big run are too high.  just my opinion but i have staggered limit orders to increase exposure as it drops as we're still in the accumulation phase.  

[GRHorn 105]

20 minutes ago, ChiTownDoc said:

Still well ahead jumping in and out but I think I’m w GR and will hold a while.  If we hit 40k I’ll dump more in but at this point happy w where I sit in terms of overall exposure.  Also super lucky that I came here and decided to get in with something substantial around 20k.  Lucky until I watch it crash to 15...

I think the whole Tether suit being settled is a huge deal and is kind of the launching point for next leg up. Not everyone on this forum may know what I'm talking about, but it definitely derisks the space even further. I've heard from multiple crypto fund managers online that they had spent a huge amount of time online fielding questions from other "sophisticated" investors about Tether concerns. Now with that off the table, it should clear the way for more participants to enter.

[GRHorn 105]

18 hours ago, Acropora said:

Hey, you have a link to that newsletter?

His name is Willy Woo. It's a paid newsletter. I follow it because he specializes in on chain analysis. From what he, and others, say from on chain behavior you can see when things are close to a top. I'm basically paying for it so I can maybe get a better idea on when to cash out. I will share that info here. I've shared pretty much everything I've been doing.

[Acropora 856]

1 minute ago, GRHorn said:

His name is Willy Woo. It's a paid newsletter. I follow it because he specializes in on chain analysis. From what he, and others, say from on chain behavior you can see when things are close to a top. I'm basically paying for it so I can maybe get a better idea on when to cash out. I will share that info here. I've shared pretty much everything I've been doing.

you the man...and really appreciate what you've brought as both an early adopter and a veteran.  i've been invested since 2017 but lost a little faith in the long term viability between 2018 and 2020, which cost me an opportunity to really capture the cost basis i should have had as an early adopter.  thankfully i never sold the early investments. 

[XYZ 2,154]

Explain the Celsius Network again to me. The loans they give, are they in BTC or in USD? If they are in BTC, like, how does it work for the borrower? Doesn’t the borrower need to convert the BTC to USD in order to buy a refrigerator or whatever? And then when he needs to repay the loan, does he need to convert USD to BTC and pay back in BTC?

[ChiTownDoc 21,154]

1 hour ago, GRHorn said:

I think the whole Tether suit being settled is a huge deal and is kind of the launching point for next leg up. Not everyone on this forum may know what I'm talking about, but it definitely derisks the space even further. I've heard from multiple crypto fund managers online that they had spent a huge amount of time online fielding questions from other "sophisticated" investors about Tether concerns. Now with that off the table, it should clear the way for more participants to enter.

Getting in and out on 5k swings is ok. Win half those and lose half.  But I’m staying in right now because it feels 100k could come really fast.  A major bank allowing their investors to have direct BTC exposure feels close - to me that’s the big one.  GS and JPM won’t even let their managers get you in grayscale right now.