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surlybevo

By surlybevo
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Posted
Posted
1 hour ago, gyroprotagonist said:

anyone going to sell on the news?

whales have not used all the billion from xmas and there was another billion started last week.  there is money there to move the market up.  question is whether whales dump after ETF announcement to load their bags again at lower level.

Does not compute. 

My holdings are small enough that if BTC goes to a million, it would be a nice payday. Short of that, no real reason to sell.

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gyroprotagonist

gyroprotagonist 2592

Posted
Posted

yeah, i have different strategy (being generous here with that term) and probably more working altcoins than you just hodling BTC.  if a bullrun is happening, i don't think whales will just shoot it off from the ETF.  but rather looking to take profit on the announcement and buy back in to the market on the dip.

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Hal Finney

Hal Finney 174

Posted
Posted
25 minutes ago, gyroprotagonist said:

yeah, i have different strategy (being generous here with that term) and probably more working altcoins than you just hodling BTC.  if a bullrun is happening, i don't think whales will just shoot it off from the ETF.  but rather looking to take profit on the announcement and buy back in to the market on the dip.

 

 

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gyroprotagonist

gyroprotagonist 2592

Posted
Posted

but how else can i showcase the Dunning-Kruger effect to its full glory?

some of the coins i have traded would/will never come back so long term holding is not an option.  set stop loss and take profit on the way up.  I am not even talking about memecoins which can be fun but everyone knows they will approach zero at some point.

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Hal Finney

Hal Finney 174

Posted
Posted
9 minutes ago, MonkeyDoughnut said:

Just wondering who investigates and fines the SEC for market manipulation?  I know they would come after my company if we did similar.

nobody.

Looks like Gary didn't even have 2FA on the account.

 

FWIW it looks like the hacker just posted the planned announcement early. Looks like legit what they would post.

 

 

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bernorange

bernorange 8359

Posted
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Quote

Vanguard’s decision to not offer its users access to bitcoin ETFs has sparked a backlash among some customers, who have decided to close their brokerage accounts and move their money to other platforms.
...
Julian Fahrer, co-founder and chief executive at Apollo, a review platform for bitcoin-related products, said on X, formerly Twitter, that he requested to transfer his 401(k) account from Vanguard to Fidelity.

“It took about 15 minutes,” Fahrer tweeted.
...
Oher crypto enthusiasts expressed similar feelings on X.
...
As investor interest in bitcoin ETFs appear to be high, financial institutions that don’t offer access to the trading of such products may suffer from user outflows, said Frank Corva, senior analyst for digital assets at comparison website Finder.com.

“Financial institutions that ignore bitcoin and hinder their clients from getting access to the asset will likely be punished in the form of their clients moving their money to institutions that accommodate their desire to get exposure to bitcoin,” Corva wrote in emailed comments.

https://www.marketwatch.com/story/vanguards-decision-to-shun-bitcoin-etfs-triggers-backlash-with-some-customers-moving-to-crypto-friendly-competitors-like-fidelity-06d8713b

 

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Hal Finney

Hal Finney 174

Posted
Posted (edited)
30 minutes ago, Captainant said:

Lulz maybe they don't want to give the air of credibility to what is purely speculative FOMO "line go up" instruments

My Vanguard account is just in vanilla retirement plan stuff, but I have a feeling if I asked they would offer self directed trading including options, triple inverse etfs etc. Can’t get much more speculative than those. 

Edited by Hal Finney
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Captainant

Captainant 27632

Posted
Posted
Just now, Hal Finney said:

My Vanguard account is just in vanilla retirement plan stuff, but I have a feeling if I asked they would offer self directed trading including options, triple inverse etfs etc. Can’t get much more speculative than those options. 

Those options are at least still for an actual asset in the real world, and not just a ledger value recorded in a distributed digital blockchain. I don't entirely disagree with your "whatabout", but they're still pretty distinctly different in my mind. 

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Hornbeliever

Hornbeliever 712

Posted
Posted

A couple weeks ago, I finally sold out of one of my bitcoins on coinbase for two reasons:  (1) to lock in a certain positive return from my 2017 complete dumb gamble and (2) to see if me selling actually meant I would get that cash in my real world account.

I knew nothing about crypto in 2017 when I bought bitcoin and still know nothing about crypto but I do know that I like to make a small, stupid, high risk investment each year with a long holding period for said gamble.  Even through all the ups and downs of this ridiculous investment, a piece of me always thought that when it was time to sell, coinbase would ask me for some password that I forgot to write down in some "wallet" or some other nerd term and I would get no money back.

Well, that almost happened.  Took me two weeks to prove who I am after having  to take a pic with my drivers  license and then a week later with my passport and my cash was restricted the whole time.  I had to write on sticky notes what they told me to write like I was a hostage with today's date and Russell Crowe was coming to save me.   Finally, yesterday I ended up on a three hour chat with some Indian customer service agent and thanks to Shiva and Ganesh, he unblocked my cash and I was able to successfully transfer those funds from my fantasy account at coinbase to a real bank today.

Anyways, success.  And let's keep taking bitcoin to the moon,whatever the fuck bitcoin is.

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gyroprotagonist

gyroprotagonist 2592

Posted
Posted

yep, it is becoming harder and harder to find CEX (as a US cit) that do not require KYC.  I have not had issues with CB, but i doxxed myself to them a long time ago and bank transfers are usually pretty fast.  I still get nervous when transferring crypto from a 'fly-by-night' CEX back into CB though.  if you send something on the wrong chain it could be lost. 

I have been using Phemex and just saw some people get their withdrawal function frozen as they may be forcing KYC.  I really don't care as i am not trying to cheat uncle Sam, but the fewer places that know of my info the better.  Coinbase does not offer some of the coins i am trading in, so have to find other alternatives.  CB also does not have the greatest fee structure.

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tbone_

tbone_ 14110

Posted
Posted
A couple weeks ago, I finally sold out of one of my bitcoins on coinbase for two reasons:  (1) to lock in a certain positive return from my 2017 complete dumb gamble and (2) to see if me selling actually meant I would get that cash in my real world account.
I knew nothing about crypto in 2017 when I bought bitcoin and still know nothing about crypto but I do know that I like to make a small, stupid, high risk investment each year with a long holding period for said gamble.  Even through all the ups and downs of this ridiculous investment, a piece of me always thought that when it was time to sell, coinbase would ask me for some password that I forgot to write down in some "wallet" or some other nerd term and I would get no money back.
Well, that almost happened.  Took me two weeks to prove who I am after having  to take a pic with my drivers  license and then a week later with my passport and my cash was restricted the whole time.  I had to write on sticky notes what they told me to write like I was a hostage with today's date and Russell Crowe was coming to save me.   Finally, yesterday I ended up on a three hour chat with some Indian customer service agent and thanks to Shiva and Ganesh, he unblocked my cash and I was able to successfully transfer those funds from my fantasy account at coinbase to a real bank today.
Anyways, success.  And let's keep taking bitcoin to the moon,whatever the fuck bitcoin is.

My BIL killed with Cardano enough to buy a beach house. His story of what he had to go through to get that cash and ti verify it with his lender on the beach house was insane. I told him he should write a book.
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MonkeyDoughnut

MonkeyDoughnut 10227

Posted
Posted
On 1/24/2024 at 3:38 PM, Hornbeliever said:

A couple weeks ago, I finally sold out of one of my bitcoins on coinbase for two reasons:  (1) to lock in a certain positive return from my 2017 complete dumb gamble and (2) to see if me selling actually meant I would get that cash in my real world account.

I knew nothing about crypto in 2017 when I bought bitcoin and still know nothing about crypto but I do know that I like to make a small, stupid, high risk investment each year with a long holding period for said gamble.  Even through all the ups and downs of this ridiculous investment, a piece of me always thought that when it was time to sell, coinbase would ask me for some password that I forgot to write down in some "wallet" or some other nerd term and I would get no money back.

Well, that almost happened.  Took me two weeks to prove who I am after having  to take a pic with my drivers  license and then a week later with my passport and my cash was restricted the whole time.  I had to write on sticky notes what they told me to write like I was a hostage with today's date and Russell Crowe was coming to save me.   Finally, yesterday I ended up on a three hour chat with some Indian customer service agent and thanks to Shiva and Ganesh, he unblocked my cash and I was able to successfully transfer those funds from my fantasy account at coinbase to a real bank today.

Anyways, success.  And let's keep taking bitcoin to the moon,whatever the fuck bitcoin is.

Yeah, just a couple years ago that could have been done in minutes, but now the government is protecting you from yourself. It'll get better again, but realistically I'm expecting that to be a decade or more.  Other countries you can do all that from your phone as easy as ordering food.

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Nice Guy Eddie

Nice Guy Eddie 13508

Posted
Posted
14 minutes ago, MonkeyDoughnut said:

Yeah, just a couple years ago that could have been done in minutes, but now the government is protecting you from yourself. It'll get better again, but realistically I'm expecting that to be a decade or more.  Other countries you can do all that from your phone as easy as ordering food.

I don't think all of the hoops are due to govt influence. You need to remember all of your passwords and codes, as well as your 2FA options. If you used some old forgotten email address to register on the crypto sites, you need to update them.

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bernorange

bernorange 8359

Posted
Posted

I don't always invest in risky new ventures, but when I do, it's because I watched Superbowl commercials.

~~~

In actual market news, GBTC outflows have slowed and net ETF volume is now on the buying side. 

Bukele was re-elected in El Salvador.  Pro-Bitcoin policies and programs are likely to continue there over the next few years.

Quote

Crypto lender Genesis Global Capital, currently undergoing bankruptcy proceedings, has requested permission to sell trust assets worth approximately $1.6 billion.

In a motion filed with the U.S. Bankruptcy Court in the Southern District of New York, the firm sought approval to sell assets held by Genesis, a subsidiary of the Digital Currency Group.

The assets include shares of Grayscale Bitcoin Trust (GBTC) valued at around $1.4 billion, shares of Grayscale Ethereum Trust valued at about $165 million, and shares of Grayscale Ethereum Classic Trust valued at approximately $38 million
...

https://cryptonews.com/news/genesis-seeks-green-light-from-bankruptcy-court-for-1-4-billion-gbtc-share-sale.htm?source=pmbug.com

Pending the court decision, this could introduce some new selling pressure for GBTC if Genesis' holdings get liquidated.

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