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george castanza
Lord Of The Idiots!


Registered: 10/21/02
Posts: 8,721
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Enkidu]
#27279766 - 04/23/21 08:28 PM (2 years, 9 months ago) |
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I had taken all my profits early and had a few buy orders that hit when the market dipped, so in my mind it made good sense to go ahead and buy up more on the comparitive cheap. Like you said time will tell.
-------------------- KRAMER CAKES


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Nature Boy
Stranger than most



Registered: 07/09/07
Posts: 8,241
Loc: Samsara
Last seen: 2 months, 5 days
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: george castanza]
#27280070 - 04/24/21 05:08 AM (2 years, 9 months ago) |
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I woke up this morning, perused MSN (on-line news) and there was article after article shitting on BTC. I don't think news has a LOT of influence, but it almost certainly has SOME. Plus, on the week-end and in low volume situations, the effects are likely to be at least slightly magnified.
That having been said, I'm watching for a buy opportunity in the 45,000 range, which seems quite possible given its current difficulties staying above $49K.
-------------------- All submitted posts under this user name are works of pure fiction or outright lies. Any information, statement, or assertion contained therein should be considered pure unadulterated bullshit. Note well: Sorry, but I do not answer PM's unless you are a long-time trusted friend. If you have a question, ask it in the appropriate thread.
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automan
blasted chipmunk


Registered: 09/18/03
Posts: 8,272
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
#27280141 - 04/24/21 07:23 AM (2 years, 9 months ago) |
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Quote:
geokills said: An important consideration at moments like these, is to ask yourself what your personal timeline and plan is. For my part, I want to maintain exposure to this asset class for quite some time (thinking in years - not weeks or months). Selling too much now risks throwing me into the highest tax bracket, which is unpalatable given that I don't really have an alternative investment I would want to redeploy the reduced capital into. In other words, if I sold more now, I would be doing so in efforts to trade around my core crypto positioning, but to risk a 20-37% tax hair cut on what have become monstrous gains, would require not only crypto to fall considerably from here, but I would also have to trade it exceedingly well, to make selling-now-to-buy-lower an advantageous proposition.
I had bought a fair amount of btc in the $55k - $60k range that I sold at $49k and immediately rebought at the same price to show the loss at tax time.
-------------------- No, no, you're not thinking, you're just being logical. ~ Niels Bohr
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
Loc: city of angels
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: automan]
#27280160 - 04/24/21 07:51 AM (2 years, 9 months ago) |
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Quote:
automan said: I had bought a fair amount of btc in the $55k - $60k range that I sold at $49k and immediately rebought at the same price to show the loss at tax time.
Valid point auto. Tax loss harvesting can be viable, although as most people use a FIFO (first in first out) accounting method, there are probably relatively few folks who could claim a loss on crypto sales, even after this 25% pullback.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Nature Boy]
#27280171 - 04/24/21 08:08 AM (2 years, 9 months ago) |
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Quote:
Nature Boy said: I woke up this morning, perused MSN (on-line news) and there was article after article shitting on BTC. I don't think news has a LOT of influence, but it almost certainly has SOME. Plus, on the week-end and in low volume situations, the effects are likely to be at least slightly magnified.
Unfortunately, news flow and headline sentiment can have a rather significant effect, particularly on younger markets. This is why we see knee-jerk reactions whenever a headline crosses about India or Turkey banning crypto, or the recent rumors of the US Treasury preparing charges of money laundering against financial institutions that have serviced crypto transfers. I like to stay on top of the headlines, as it helps me understand sentiment. Generally speaking, you want to plan your trades off of the inverse in extreme sentiment. When the headlines are so unbelievably bad and everyone is giving up, that's generally when you want to consider getting involved. Likewise when headlines are so rosey that everyone and their grandmother are wildly positive and if you aren't levered up 100X you're doing it wrong, that's when you should consider paring back.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Ima Trooper
Chilldog Extraordinaire



Registered: 02/21/08
Posts: 13,533
Loc: United States
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
#27280176 - 04/24/21 08:12 AM (2 years, 9 months ago) |
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Geokills, would you give me your quick assessment of my portfolio? Am I missing anything that I should really really have?
45% ETH 20% VET 10% BNB 8% XLM 7% ALGO 5% ONE 5% BTC
-------------------- "Its moving of its own accord...and I like that in a shirt!" - Me, tripping. deCypher said: Schizophrenia beats dining alone, you know.
Edited by Ima Trooper (04/24/21 08:23 AM)
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Nimpo
Big Black


Registered: 05/10/12
Posts: 2,375
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Ima Trooper]
#27280180 - 04/24/21 08:21 AM (2 years, 9 months ago) |
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I hope we see 40k BTC and 1600 ETH again soon
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
Loc: city of angels
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Ima Trooper]
#27280343 - 04/24/21 11:31 AM (2 years, 9 months ago) |
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Solana (SOL) is a fundamentally exciting project with the best technical chart out there. I built my initial position while it was basing after its first major jump at $13-$15, and I doubled down a week ago at $30 when it rebounded to new highs on accelerated volume in the face of the big BTC and ETH dumps. This one will need to cool off at some point, but the volume speaks volumes about how enthusiastic buyers are here, and pullbacks are being bought fiercely.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Ima Trooper
Chilldog Extraordinaire



Registered: 02/21/08
Posts: 13,533
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
#27280349 - 04/24/21 11:44 AM (2 years, 9 months ago) |
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Ah, I see it where it rocketed up a bit just in the last few hours. I'll look into that, thanks! Just out of curiosity, what does your portfolio look like? Is SOL your largest holding of alt coins like XLM VET is in mine?
-------------------- "Its moving of its own accord...and I like that in a shirt!" - Me, tripping. deCypher said: Schizophrenia beats dining alone, you know.
Edited by Ima Trooper (04/24/21 12:34 PM)
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
Loc: city of angels
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Ima Trooper]
#27280386 - 04/24/21 12:17 PM (2 years, 9 months ago) |
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It's been a while since I've worked out my specific exposure, as I manage a personal account and a corporate account where I hold a shared stake. With the two asset pools combined, my specific allocations are as follows:
- 53% BTC
- 21.5% ETH
- 11.5% SOL
- 5% DOT
- 4% XTZ
- 2% UNI
- 2% 1INCH
- 1% HBAR
- <1% TZROP
An important note is that over half of my BTC (32% of my aggregate holdings) are tied up in the MtGox civil rehabilitation proceedings. If those funds were not locked, I would estimate 50% of that value would have been reallocated into assets such as ETH and SOL, in turn reducing my BTC exposure to ~37% of aggregate.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Ima Trooper
Chilldog Extraordinaire



Registered: 02/21/08
Posts: 13,533
Loc: United States
Last seen: 2 days, 12 hours
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
#27280401 - 04/24/21 12:37 PM (2 years, 9 months ago) |
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Thank you, that helps!
-------------------- "Its moving of its own accord...and I like that in a shirt!" - Me, tripping. deCypher said: Schizophrenia beats dining alone, you know.
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eLeSDenes
Mycelium Expander




Registered: 05/25/11
Posts: 955
Last seen: 1 year, 11 months
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Ima Trooper]
#27280549 - 04/24/21 03:44 PM (2 years, 9 months ago) |
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Surprised you only hold 5% dot, are you not staking?
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Enkidu
"No-Such-Person"


Registered: 07/09/16
Posts: 10,698
Last seen: 6 months, 10 days
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: eLeSDenes]
#27280875 - 04/24/21 10:07 PM (2 years, 8 months ago) |
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Saw this guy posting his sales of crypto, he took an exit of 1/3 or something out of btc and doge and eth and his gains were hundreds of thousands of dollars.
Literally made me feel a bit sick thinking about this guy with all his money selling for that much profit and picturing it taking a bunch of poor ass people throwing their money in and holding bags for it
Not saying this is what happen but i just got this image of how many poor people it would take buying small positions at the top for this guy to sell to them and take all their money before it drops and he just added 100s of thousands to his wealth while these poor people got took for what little money they had
Makes me feel disgusted picturing that
-------------------- Within You , Without You
      
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Enkidu]
#27280907 - 04/24/21 10:44 PM (2 years, 8 months ago) |
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That's investing dude lol that's how it works.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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Lophosaurus
suruasohpol


Registered: 08/09/07
Posts: 8,744
Loc: CA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: budmanman]
#27280938 - 04/24/21 11:48 PM (2 years, 8 months ago) |
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We can't all be winners. The main rule for investing is so so simple, but people let their emotions get in the way and have no discipline or patience. When you feel like the stock is going to zero and could never come back then that is when you buy. When you feel like the stock is going to the moon and couldn't possibly fail then you sell.
In other words... Buy low and Sell high.
So simple, yet so hard, for some people. That is why they are poor unfortunately. They're poor for making bad decisions like buying at the top and then getting scared and selling at a loss.
Feel happy that the guy made some money and feel happy that those people paid a small price to hopefully learn a good lesson.
I think we have all done that at some point and then learned not to sell at a loss again. I definitely did it in the beginning and learned my lesson.
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Lophosaurus]
#27280960 - 04/25/21 12:44 AM (2 years, 8 months ago) |
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To make money investing, you have to take money. The money isn't appearing out of thin air. When you make money you're taking it from someone. When you are taking a loss its because someone took your money.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
Edited by budmanman (04/25/21 01:01 AM)
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Enkidu
"No-Such-Person"


Registered: 07/09/16
Posts: 10,698
Last seen: 6 months, 10 days
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: budmanman]
#27281137 - 04/25/21 06:17 AM (2 years, 8 months ago) |
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Yeah i mean i know that but at the same time i guess i never really saw someone with that big of gains, guy has his own business and what not, i know theres bigger fish out there too but it just hit a bit different.
He was saying he profits 1mil a year from investing and idk if thats true, he did post his pics of the 100's of thousands in profit, not exactly boasting but he mentioned he was gonna buy some land and what not and someone said he was lying so he showed him
Anyway, just hit a bit different and made me feel like it was just an example of the rich getting richer and the poor staying poor...
Kinda off topic i was just feeling philosophical last night sitting around a fire and thought about it while we were talking about all this covid shit and people having no critical thinking skills, blindly following, bunch of stuff. Very off topic so my apologies
Makes me feel like i honestly dont even care to have crypto anymore. Idk.
Dont like playing these games we humans have made. Everyone against each other in competition. Fighting for resources.
Rather just live simpler, reminded of that John Legend song "Imagine"
-------------------- Within You , Without You
      
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bodhisatta 
Smurf real estate agent


Registered: 04/30/13
Posts: 61,889
Loc: Milky way
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Enkidu]
#27281139 - 04/25/21 06:19 AM (2 years, 8 months ago) |
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Poor stay poor for a lot of reasons but in investing a big reason is fomo and buy the peak. See it crash down after peak and panic sell.
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Enkidu
"No-Such-Person"


Registered: 07/09/16
Posts: 10,698
Last seen: 6 months, 10 days
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: bodhisatta]
#27281154 - 04/25/21 06:39 AM (2 years, 8 months ago) |
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Probably getting too in my head about it
Happy Sunday everyone 
Ill add in other news, BTC looks like it could be in a bearish pennant toward further downside
Ill be keeping my eyes for a bottom and signs of bullish momentum
-------------------- Within You , Without You
      
Edited by Enkidu (04/25/21 06:54 AM)
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LeafRaker
nomad



Registered: 11/28/11
Posts: 718
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Enkidu]
#27281190 - 04/25/21 07:13 AM (2 years, 8 months ago) |
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With the caveat that I'm a skeptic/nocoiner who's tangled with you guys upthread, I think you're actually adding a lot here with these thoughts.
It's easy to be blinded by certain attractive possibilities, but it's a mistake to do so with something so complex+consequential. On a psychedelic board, I think that's doubly important. One should always push oneself to consider new possiblities.
Best wishes going forward!
-------------------- Knowledge is finite, ignorance is infinite.
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