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Thread: Winklevoss Twins on Bitcoin

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  1. #136
    1320

    Dec 2004
    East Central Kentucky
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    Quote Originally Posted by Johnnybravo300 View Post
    It will be interesting to see how cryptos react as the stock market melts down.
    Money seems to have disappeared into the ether but may show back up tomorrow, in a big buy-in somewhere else?
    There could be a big move into cryptos and other assets but I think that stock investors might feel more safe going into cryptos vs the dollar.
    If I felt more comfortable with cryptos I'd feel ok playing $1000 but I'm holding out for now. I'd want my original investment and some interest back asap and I might keep a little winnings in there and let them ride. Problem is Im not sure enough.
    For now it's watch and learn, see how it reacts during a crash and against other assets. Id want some history and don't have much yet with it all so new. I imagine it will do well against the dollar and that may be one strength.
    I'd probably bite all my fingernails off the way it is now hehe.

    Whether it's a Ponzi or not, it's legal and there's some making money off the backs of others and it's about making money sad to say.
    Soon enough we will see what happens and then we will know for sure. My inkling is that Bitcoin has seen it's day and I'd sell that junk now and take what's there. With all the competition and endless other cryptos out there it's a no brainer. Everyone should have cashed out when it was in the crazy stage but people thought it was still going up. I was watching this going on and thinking that it will blindside them, and that day came and went but I thought it would happen before 18,000. If I owned them I would have sold at 18,000 but I lost out not being in the coin.
    I'm fine with that because I didn't want in at the time and it wasn't my gamble to take. If I was a younger guy or a single man it might be different but I have to answer to big sarg and I'm too old to lose anything at this point hehe. I still like to trade in my head and see if I can pin it and sometimes I do. Sometimes things keep growing and I didn't imagine it.
    I was way off on my stock market record high guesses. I never dreamed it would go that high.

    I'm still negative on the coins for now but doesn't mean that won't change. Just never know what's going to happen and not a time that I'd buy in now.
    It's funny I've always been an adrenaline junkie but never with my money. I don't even like casinos or lottery tickets. I've always believed the casinos and lotterys were for people that were really really bad at math.
    Plus big sarg don't take no gruff when money goes missing and she's got momma bear syndrome so I learned over the years.

    Everything has been good and civil here imo. We all have our opinions and views of things and that's how the world is. It's all good!
    Sounds like a good strategy. I too watched it for a while before jumping in. Ironically, what pushed me in was my two teenage kids asking for crypto for one of their Christmas presents...lol. It was money that was going to be wasted on something that would be tossed in less than a year so what the heck? They have bragging rights at school as a result and both have stayed interested in the market, checking it daily and wanting to put more of their own money in. It's funny, when the lotteries would get up in the 300+ million, we'd sit around a camp fire and talk about what we'd buy if we won, Now, we talk about what we're going to buy when our crypto goes to the moon....lol.

    Four years ago in middle school, you were the man if you wore Lebron Nike tennis shoes, two years ago, if you were in middle school and had an arsenal of fidget spinners, you were legit, this year, if you own crypto you're tops. Dang, they grow up fast.

  2. #137
    us
    Sep 2014
    STATE OF JEFFERSON
    104
    77 times
    All Types Of Treasure Hunting

  3. #138
    us
    Sep 2014
    STATE OF JEFFERSON
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    Next price increase in just about an hour ...

    https://clearcoin.co/

  4. #139
    us
    Seriously?

    Mar 2008
    WA
    Tesoro Vaquero, XP Deus, Vallon Gizmo
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    Quote Originally Posted by Dave Rishar View Post
    I own no BTC and have no interest in doing so, but let's play a little game and pretend that I'm interested, and I buy one BTC right now. ($9174.) I don't want to sit on this for over a year, so when I cash out, I'm looking at short term capital gains taxes, which means that Uncle Sam will want 22% of what I make, meaning that I'll have to make $11,192.28 just to break even. I'm in this for fast gains though, so I want to make at least a grand or so for the minute or so of button pushing that it will take me to buy this. As I don't like weird numbers, we'll just call this $13k. I've bought my BTC and I've placed my sell limit at $13k. How long will I have to wait to make $1800 on my $9000 investment after taxes?

    I predict no more than a month, probably less than two weeks. Let's see if I'm close.
    We're getting awfully close to the two week point and BTC is only at $10k. I know that I gave myself a month, but I'd rather see two weeks. Will my sell limit be hit? Can a rational man predict what an irrational market will do? More importantly, did I seriously screw up when BTC dipped to $6k and I still stayed away from it? (Yes. At a $6k buy, I would have placed a sell at $9k and laughed my way to the bank a few days ago.)

    Sometimes I think that I should take my own advice, but only sometimes. Let's see how close I got this time.
    1320 likes this.
    Avatar taken from "The Biting Pear of Salamanca." See the original here: http://ursulav.deviantart.com/art/Th...manca-29677500

  5. #140
    us
    Oct 2009
    8,434
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    Quote Originally Posted by Dave Rishar View Post
    We're getting awfully close to the two week point and BTC is only at $10k. I know that I gave myself a month, but I'd rather see two weeks. Will my sell limit be hit? Can a rational man predict what an irrational market will do? More importantly, did I seriously screw up when BTC dipped to $6k and I still stayed away from it? (Yes. At a $6k buy, I would have placed a sell at $9k and laughed my way to the bank a few days ago.)

    Sometimes I think that I should take my own advice, but only sometimes. Let's see how close I got this time.

    The best strategy I saw for buying and selling was to set a rolling average timeline you are comfortable with, such as 30 day, 60, 1 week, etc. Then you watch the daily price compared to that average. IT doesn't matter how low the CURRENT price is if its not below that average then you dont buy. When you see a big dip against the average, thats your time to buy, or buy more. When it spike above the average thats your time to sell. You wont likely buy at the lowest low or sell at the highest but its a strategy for making solid profit instead of just guessing and gambling.

  6. #141
    us
    Sep 2013
    Scituate, RI
    Garrett AT Pro
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    Don't forget all the fees and capital gains tax. Those costs will eat into any profit. The cost to buy or sell Bitcoin is 1.49% per transaction. If you bought 9k worth, you would have paid $134.10 in fees. If you sell it at 11k (if it ever gets back to that price), you would pay $163.90 in fees. So for a 2k profit, you'd lose $298.00 of that to fees. Now you're down to $1,702.00 profit. Uncle Sam wants 22% of that, so kiss off another $374.44. That leaves you with an actual profit of $1,327.56. Not bad, but not enough for me to risk 9k in something that is backed by nothing and is being manipulated by the various companies who are invested in it...
    Jason in Enid likes this.

  7. #142

    Feb 2013
    Longview, Texas
    953
    1504 times
    All Types Of Treasure Hunting
    I unloaded my tulips before the last frost
    KRIKITTS likes this.
    ďThe enemy never sees the backs of my Texans!" - General Robert E. Lee

    "While I could never repose confidence in a Yankee, I have never been deceived by an Indian" - Daniel Boone



  8. #143
    us
    Sep 2013
    Scituate, RI
    Garrett AT Pro
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    I'm wondering why you have to pay a percentage instead of a flat rate fee. When you buy stocks, you pay a flat fee, usually around $7.00 or so. Seems kind of greedy to be charging 1.49% per transaction. And who gets to keep all these fees?

  9. #144
    1320

    Dec 2004
    East Central Kentucky
    3,248
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    Quote Originally Posted by FreeBirdTim View Post
    I'm wondering why you have to pay a percentage instead of a flat rate fee. When you buy stocks, you pay a flat fee, usually around $7.00 or so. Seems kind of greedy to be charging 1.49% per transaction. And who gets to keep all these fees?
    If you find the right exchange, you won't pay anything remotely close to those amounts. The Exchanges have to charge something to keep the shop running and the miners that mine the coins get a small fee so I have no problem paying to play. I wouldn't pay the fees that you mention though, those are very high.

    If you're on the right exchange, Uncle Sam doesn't know you're playing.....
    FreeBirdTim likes this.

  10. #145
    us
    Seriously?

    Mar 2008
    WA
    Tesoro Vaquero, XP Deus, Vallon Gizmo
    1,169
    1036 times
    Quote Originally Posted by 1320 View Post
    If you're on the right exchange, Uncle Sam doesn't know you're playing.....
    Until you move it back into the US, anyway. But it's the same deal with stocks, so that just comes with the territory.
    Avatar taken from "The Biting Pear of Salamanca." See the original here: http://ursulav.deviantart.com/art/Th...manca-29677500

  11. #146
    us
    Sep 2014
    STATE OF JEFFERSON
    104
    77 times
    All Types Of Treasure Hunting
    Quote Originally Posted by etex View Post
    I unloaded my tulips before the last frost
    Gonna buy some Derivatives from Greece or somewhere...

  12. #147
    us
    Jan 2016
    North Saguache county between Gunnison and Monarch Pass
    F2
    1,370
    1403 times
    Prospecting
    Pretty much any investment in Greece is a fail proof plan. Especially their public funded pension plans. I hear they are swimming in wealth and would make the spartans proud!
    If the 300 could see them now!
    1320 likes this.

  13. #148
    us
    Sep 2013
    Scituate, RI
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    Some anonymous person bought $400 million in Bitcoin stock and now it's trading for over 11 grand. Hard to imagine anyone having that kind of cash throwing it into Bitcoin. Seems shady to me. Watch out for a pump and dump coming your way!

    https://www.investopedia.com/news/an...llion-bitcoin/
    1320 likes this.

  14. #149
    1320

    Dec 2004
    East Central Kentucky
    3,248
    1837 times
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    400 million barely moves the needle. Litecoin saw nearly one billion pumped in over a 24 hour span, the collective pump raised the price by a whopping $50 per coin. I would guess that a single buy of 400 million wasn’t a single whale, it’s likely a representation of a group buy
    FreeBirdTim likes this.

  15. #150
    us
    Jan 2016
    North Saguache county between Gunnison and Monarch Pass
    F2
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    Interesting times! I've never seen the markets this faked and pumped in some areas and so crushed in others.
    2018 will be fun to watch if nothing else!
    1320 likes this.

 

 
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