OT- Bitcoin

[Streamer15]

Understandable... New Tech is always a risk. Not all are going to be successful.

Investing in the Ecosystems are the Safer plays in general. If you take anything away from what I said take that. Those are your Ethereum's, Cardano's, Dot's, Solana etc...

Apple is AAPL
Microsoft is MSFT

Do you want to invest in the overall product or do you want to invest in the smaller project building software on them. Smaller project have more risk, but a hell of a lot more upside

If I were to take a position, it will likely be in one of the top three. I'd have to get a better grasp on how it could be used and what would stop someone else from developing better tech/ip/etc.
I wish jpm would make it easy on me and let me buy some coins without going to grayscale where the NAV concerns me.

 

[dsmalls3]

Leveraged long liquidations? I get the short squeeze on the way down but I don't follow on this one. Profit taking by those on margin? I thought that was a big hair cut for profit taking, but I'm not crypto savvy....or savvy in general.

What don't you understand? Crypto is the highest vol, and you have folks with big stacks levering up to 100x....

If you have a substantial amount of money longing crypto with 10-100x leverage, and it goes down, it causes a cascade event a large green or red candles.

An amount of crytpo is force sold through liquidations

 

[dsmalls3]

Sorry for the long response, but I want to give you a legit answer

I am going to be clear, I do not see a ton of the ecosystems making it the long haul. What people don't understand is the difference in the layers.

There are 3 Currencies that I see as the future of the Space.

If you want to compare it to the technology stocks

• Bitcoin - 1st Generation Web 3.0

is like

Think foundational things. The beginning of the Internet. Yahoo, AOL, MySpace, initial www sites etc...

• Ethereum - 2nd generation Web 3.0 (Inventers of Proof of Work)

is like

Google, Facebook, Twitter etc...

• Cardano - 3rd generation Web 3.0 (Inventers Proof of Stake)

is like

AI, Metaverse, Defi, DApps etc...

Now keep in mind all 3 have the capability to do what the others are doing, but Cardano is the furthest along when it comes to a secured decentralized space, but Ethereum and Bitcoin were around first, and people are more comfortable with them currently, but Cardano has more room to get bigger. Does that make sense?

Now to keep it in layman's terms

Bitcoin - Apple - Google
Ethereum - Microsoft - Facebook
Cardano - Dell - Twitter
Solana - HP - LinkedIn
Avalanche - Lenovo - YouTube

They all have their place and then there are the programs that get built on the ecosystems

Each Ecosystem have their own, but like this

Apple has

Safari
iTunes
iMovie
Pages
FaceTime

Microsoft has

Office
Edge
Teams
Media Player
One Drive

Now Blockchains Technologies (Ethereum, Bitcoin, Cardano etc...) Have their own unique versions of

Defi
Staking Software
Smart Contracts
NFT
Stablecoins

Lastly, Each project inside their ecosystem have their own currency. and those currencies value is based upon interest levels, how much it is use and how much people are willing to pay to use their products. Everything that gets built on ecosystem has it's own currency that can be converted on the Decentralized Exchanges and converted to the main ecosystem currency like BTC, ADA, SOL, ETH and then can be transferred to a centralized exchange like Coinbase, Binance, Crypto.com etc... and these Centralized Exchanges are where you can convert to Fiat (USD, Pounds, Yen etc...)

That is why Meme coins are dumb, because there is no business behind it, where as other aspects of crypto are 100% legit and will grow as the technology grows. If you really get into it there are new things that are coming out that will blow your mind. If you want to be safe

In order these 3 are going nowhere but up

Bitcoin
Ethereum
Cardano

Follow the narrative, not the fundamentals.

BTC has all the fundamentals, but you would be good to do 3x your port from here.

SOL is a 10x port from here, and ALSO has fundamentals. Same with AVAX.

Dont' trade on fundamentals, it hasn't worked since GFC

 

[dsmalls3]

My fund:

$52k May 2023 to $140k Dec 2023. 150% growth.

Expected TP $650k to $1,400,000.

Strategy I/0 Fund, Real Vision, and Macro tech/crypto portfolios.

2-8x principal by Q1/Q2 2025

 

[BTF69]

Follow the narrative, not the fundamentals.

BTC has all the fundamentals, but you would be good to do 3x your port from here.

SOL is a 10x port from here, and ALSO has fundamentals. Same with AVAX.

Dont' trade on fundamentals, it hasn't worked since GFC

Man, I never even heard of SOL or AVAX!!!!

What is the next coin you like that is currently low?

 

[big red22]

Man, I never even heard of SOL or AVAX!!!!

What is the next coin you like that is currently low?

How have you never heard of Solana? Sam Bankman Fried? FTX? I stay clear of VC heavy currency. They may make good money for people, but also could bankrupt you at a drop of hat. Solana is IMO the crypto that gives it it's bad name.

Merry Christmas Everyone

 

[BTF69]

How have you never heard of Solana? Sam Bankman Fried? FTX? I stay clear of VC heavy currency. They may make good money for people, but also could bankrupt you at a drop of hat. Solana is IMO the crypto that gives it it's bad name.

Merry Christmas Everyone

I do almost nothing with crypto at all, so I really just have heard of a few of the coins.

 

[dsmalls3]

How have you never heard of Solana? Sam Bankman Fried? FTX? I stay clear of VC heavy currency. They may make good money for people, but also could bankrupt you at a drop of hat. Solana is IMO the crypto that gives it it's bad name.

Merry Christmas Everyone

You are wrong about Solana here.

SBF gave crypto a bad name, not the coins he was investing in for his ponzi.

When Solana was at $9, none of the application builders left. That’s about as bullish as it can get in crypto, because it is about the technology and real world use case, not about the money.

 

[TampaBaySkers]

Solana is up 48% since dsmalls told us broke b!tches to buy it. Glad I bought some. Wish Coinbase would of let me buy more.

Thanks dude

 

[redwine65]

Some smart dudes on this thread..

So what 3-5 coins are you heavily investing in until Q1 of ‘25?

Go!

25% bitcoin
then 60 alts, best performing thus far is:
moonriver
injective
render
maple
imx
avalance
solona
kusama
helium
op
polka starter
osmosis
fantom
fetch
beam
oasis
mina
egld
centerfuge
cardano
link

they all did 100% min so far..

but only energy web I bought at the very bottom $1.60

 

[redwine65]

Solana is up 48% since dsmalls told us broke b!tches to buy it. Glad I bought some. Wish Coinbase would of let me buy more.

Thanks dude

I use metamask/uniswap to get ones not found on coinbase..I used to use kucoin, but genzler and the 3rd reich closed them off to the US.

 

[dsmalls3]

Solana is up 48% since dsmalls told us broke b!tches to buy it. Glad I bought some. Wish Coinbase would of let me buy more.

Thanks dude

Hell yeah dude! Keep riding it to $400 billion market cap. It’s not going to slow down.

But do make sure you sell before the next bear correction. We have at least another 12 months.

 

[dsmalls3]

I use metamask/uniswap to get ones not found on coinbase..I used to use kucoin, but genzler and the 3rd reich closed them off to the US.

MM/Uniswap is the way to go. Make sure to Ledger that shit up.

Phantom for SOL is awesome as well and I’m gravitating to SOL this cycle.

 

[dsmalls3]

Man, I never even heard of SOL or AVAX!!!!

What is the next coin you like that is currently low?

I’m basically riding up SOL and AVAX for my IRA. Don’t see other coins I can buy with my IRA outperforming these and I’m avoiding the temptation to over trade.

For my cash account it’s all SOL, then will make small bets on smaller SOL coins. One I like now is KNK.

For cash account I also have access to VC seed rounds for gaming type tokens that launch. I’m hoping to get in about $25-$35k with small bets and hoping one of them pulls a 100-500x

 

[cornhustler]

It has been three years since this thread was started by @redwine65.

How is everyone feeling about crypto?

I know the guy who loves exclusive beef is all about it. I think people tend to overthink things. Take steaks. If you get a Prime steak from anywhere, Wal-Mart?, and cook it appropriately it will be delicious every time. Similarly if you invest early and consistently into a low fee mutual or index fund you will be set up when it comes time to join a 55+ swinging community in Palm Springs. Just curious on this lazy day after Christmas.

 

[big red22]

It has been three years since this thread was started by @redwine65.

How is everyone feeling about crypto?

I know the guy who loves exclusive beef is all about. I think people tend to overthink things. Take steaks. If you get a Prime steak from anywhere, Wal-Mart?, and cook it appropriately it will be delicious every time. Similarly if you invest early and consistently into a low fee mutual or index fund you will be set up when it comes time to join a 55+ swinging community in Palm Springs. Just curious on this lazy day after Christmas.

It is only popping up again because it is soon to be bull time. I feel great about the tech and the future of it and that is why I have been DCAing since March of 2021. Didn't get into it to catch the quick 50x fake pump, and I know a lot of people try to do that. The point is I will take some off the top this time around. Then wait till the dip again in 2026 to start DCAing again until 2028/29

 

[TampaBaySkers]

It is only popping up again because it is soon to be bull time. I feel great about the tech and the future of it and that is why I have been DCAing since March of 2021. Didn't get into it to catch the quick 50x fake pump, and I know a lot of people try to do that. The point is I will take some off the top this time around. Then wait till the dip again in 2026 to start DCAing again until 2028/29

Stupid question I’m sure, but what does DCA mean?

 

[Huskers123456]

Stupid question I’m sure, but what does DCA mean?

Dollar cost average

 

[big red22]

Stupid question I’m sure, but what does DCA mean?

Dollar Cost Average

 

[big red22]

btc to the moon. Just refinanced my house and bought 20 btc

If this was in fact true... congrats brother. If you still have 20 or more you are should have 2 Million + this coming up bull cycle. So barring any recession that should be soon. As big of a dip this bear market sent us you still would of never lost money! Could of got in at 16k at bear low around this time last year.

 

[Sinomatic]

I had 146 stacks in SOL back in may at 21 bucks. I converted over to BTC and now I'm crying in my milk. haha

 

[dsmalls3]

Stupid question I’m sure, but what does DCA mean?

DCAing is for pussies. lol

Saw that on a guys Twitter bio once and thought it was pretty funny.

 

[Sinomatic]

Instead of getting more Cardaro... I may get into some of their layer 2's that may 50x or 100x compared to Cardano 10x from here.

Thinking COTI... They built the djed stable coin for the cardano blockchains. I believe they are around $0.07 right now and can see I hitting $3 to $5 at the peak this bull

NFA

So you think that COTI V2 will do well? 3 to 5 bucks! That is like 10x the peak in 21.

 

[TampaBaySkers]

Quite a sell off haha

 

[Sinomatic]

10% dip on word that SEC will not approve BTC as ETF. Anybody hear any other news?

 

[BTF69]

10% dip on word that SEC will not approve BTC as ETF. Anybody hear any other news?

All I know is that I own some Bitcoin related stocks and today was a bloodbath.

 

[Dean Pope]

my polkastarter is up 403% since I bought the sbf dip...
imx up 259%, render up 230%, inj 257%....

the main issue I have is not knowing where to put the majority of money..
the lion share was btc..and thats only up 100% since the sbf dip...where I should of had in in polkastarter..

they need to tell me (no bs) which one is going to have the greatest % increase and the exact time to buy/sell..

Back in 2017, a podcaster I used to listen to said it best and I wish I had taken his advice. The object of the game is to see who has the most Bitcoin. So ideally, pick a good altcoin and sell after it gains in price in order to add to your BTC stack. I don't have the guts or understand the tax ramifications enough to buy & sell-- plus none of us can time the market. So I just buy and hold almost everything.

 

[Dean Pope]

How do you crypto bros see crypto doing during a recession? So hypothetically unemployment hits 8%+ do you see a massive sell off, or will it still follow its usually cycle ?

If we see a recession, some whales are going to sell. Prices will plummet on the alt coins. I think the play would be to sell alt coins and prepare to buy BTC & Eth on the dip. Unfortunately, we'll never see BTC under $4 k like it was briefly back in 2020. That's how I see it anyway. But I think it's more likely that we don't have a recession at all. It's just guesswork really.

 

[big red22]

10% dip on word that SEC will not approve BTC as ETF. Anybody hear any other news?

Yes... when this FUD is all over people will cry about being too late or I shouldn't got in. This will be the last big dips before the bull starts. NFA so FWIW

 

[redwine65]

Back in 2017, a podcaster I used to listen to said it best and I wish I had taken his advice. The object of the game is to see who has the most Bitcoin. So ideally, pick a good altcoin and sell after it gains in price in order to add to your BTC stack. I don't have the guts or understand the tax ramifications enough to buy & sell-- plus none of us can time the market. So I just buy and hold almost everything.

yeah it seems for every time btc 4x's, alts 7x's (on average)...they have higher highs and lower lows.
I just look at it on the 4 year cycle..sell at the start of the bear market, buy at the start of the bull.
but playing the long game on btc seems like a no brainer too.

taxes been some what easy, I had kucoin email me the link, to down load tax stuff, and coinbase and meta mask hook right up to koinly, spits out a report I hand to H&R Block..bing bang

 

[Sinomatic]

Back in 2017, a podcaster I used to listen to said it best and I wish I had taken his advice. The object of the game is to see who has the most Bitcoin. So ideally, pick a good altcoin and sell after it gains in price in order to add to your BTC stack. I don't have the guts or understand the tax ramifications enough to buy & sell-- plus none of us can time the market. So I just buy and hold almost everything.

Just spoke with my accountant last week about it.

If you're under 240k in a single year combining your regular job income and if you sold your crypto that year, deduct 35% of your profit from the crypto, shift it over to whatever account you use to pay taxes at the end of the year and keep that to pay the IRS.

If you're over 240k in a calendar year combining your regular job income and if you sold your crypto that year,
deduct 48% of your profits from your crypto exchange account, shift it over to whatever account you use to pay taxes with to pay the IRS.

If you sold at a loss, then go have a beer to cry and celebrate because you don't owe the govt anything.

If you don't have an accountant, I suggest getting one and using them every year. Don't do H&R block for Pete's sake.

*EVERY TIME YOU SELL CRYPTO AT A PROFIT YOU OWE TAXES ON THAT SALE EVEN IF THAT MONEY NEVER LEAVES THE EXCHANGE AND DOES NOT MAKE IT TO YOUR BANK ACCOUNT. So if I buy and sell 5 times and make profit 4 times then use that money to buy more and then lose my butt on the 5th sale and end up with a huge loss at the end of the year, remember I have to still pay the IRS for those gains on the first 4 sales. So it behooves you to set aside what you owe IMMEDIATELY to your regular bank account from your crypto exchange so you don't get your ass in the ringer at the end of the year.

 

[TampaBaySkers]

If we see a recession, some whales are going to sell. Prices will plummet on the alt coins. I think the play would be to sell alt coins and prepare to buy BTC & Eth on the dip. Unfortunately, we'll never see BTC under $4 k like it was briefly back in 2020. That's how I see it anyway. But I think it's more likely that we don't have a recession at all. It's just guesswork really.

I disagree on not having a recession. Yield curve doesn’t invert this much without some pain to re-invert.

That being said Powell is a dove in hawks clothing so that dingleberry will QE once his masters tell him to, so I’ve definitely have been a buyer in crypto to protect some cash.

Was happy to buy the dip today. Gonna keep buying until early 2025

 

[TampaBaySkers]

Just spoke with my accountant last week about it.

If you're under 240k in a single year combining your regular job income and if you sold your crypto that year, deduct 35% of your profit from the crypto, shift it over to whatever account you use to pay taxes at the end of the year and keep that to pay the IRS.

If you're over 240k in a calendar year combining your regular job income and if you sold your crypto that year,
deduct 48% of your profits from your crypto exchange account, shift it over to whatever account you use to pay taxes with to pay the IRS.

If you sold at a loss, then go have a beer to cry and celebrate because you don't owe the govt anything.

If you don't have an accountant, I suggest getting one and using them every year. Don't do H&R block for Pete's sake.

*EVERY TIME YOU SELL CRYPTO AT A PROFIT YOU OWE TAXES ON THAT SALE EVEN IF THAT MONEY NEVER LEAVES THE EXCHANGE AND DOES NOT MAKE IT TO YOUR BANK ACCOUNT. So if I buy and sell 5 times and make profit 4 times then use that money to buy more and then lose my butt on the 5th sale and end up with a huge loss at the end of the year, remember I have to still pay the IRS for those gains on the first 4 sales. So it behooves you to set aside what you owe IMMEDIATELY to your regular bank account from your crypto exchange so you don't get your ass in the ringer at the end of the year.

If you are at a loss sell that and take the loss for a write off then rebuy at that same position. Nice tax loophole for crypto

 

[Sinomatic]

If you are at a loss sell that and take the loss for a write off then rebuy at that same position. Nice tax loophole for crypto

Accountant didn't tell me that. But I didn't ask about losses. I might have to check that...Thanks!

 

[Sinomatic]

Yes... when this FUD is all over people will cry about being too late or I shouldn't got in. This will be the last big dips before the bull starts. NFA so FWIW

Well I dropped 2 more stacks in today. It was bleeding like a nice steak and I couldn't resist.

 

[Dean Pope]

I disagree on not having a recession. Yield curve doesn’t invert this much without some pain to re-invert.

That being said Powell is a dove in hawks clothing so that dingleberry will QE once his masters tell him to, so I’ve definitely have been a buyer in crypto to protect some cash.

Was happy to buy the dip today. Gonna keep buying until early 2025

You very well might be right. But if we hit a recession, we'll probably see multiple rate cuts. So there's a reasonable chance that BTC goes down at some point and rebounds rather quickly. You agree?

I also bought BTC today BTW.

 

[TampaBaySkers]

You very well might be right. But if we hit a recession, we'll probably see multiple rate cuts. So there's a reasonable chance that BTC goes down at some point and rebounds rather quickly. You agree?

I also bought BTC today BTW.

Yep.. I agree

 

[Dean Pope]

Just spoke with my accountant last week about it.

If you're under 240k in a single year combining your regular job income and if you sold your crypto that year, deduct 35% of your profit from the crypto, shift it over to whatever account you use to pay taxes at the end of the year and keep that to pay the IRS.

If you're over 240k in a calendar year combining your regular job income and if you sold your crypto that year,
deduct 48% of your profits from your crypto exchange account, shift it over to whatever account you use to pay taxes with to pay the IRS.

Does your accountant believe that all crypto is taxed at a short term gains rate? Anything I would sell would be something that I held for longer than one year.

 

[RBigredMax]

Does your accountant believe that all crypto is taxed at a short term gains rate? Anything I would sell would be something that I held for longer than one year.

Im curious - wouldn’t the gains be taxed at capital gains rates as opposed to standard income rates?

 

[TampaBaySkers]

Im curious - wouldn’t the gains be taxed at capital gains rates as opposed to standard income rates?

If held over a year.. yes