BITCOIN Discussion..........

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homie1975

homie1975

Joined
Oct 6, 2022
Messages
1,153
Why do I prefer Bitcoin over the other Cryptos (including Ethereum) ?

(in no particular order)

- It is branded. Like Kleenex (tissues) and Xerox (photocopies), it is branded. Laypeople use the terms "Bitcoin" and "Crypto" interchangeably.
- It is the original platform that the majority of others copied and built off of.
- Only 21 million will ever be created, so there is a finite supply.

There is so much more that the techies know about the platform and the functionality, etc, etc.

These are only the basics as I am a novice myself, and only started buying BTC back in January 2022 at $45K. I continued to dollar-cost-average, buying incrementally on the way down all the way to $16,500.

I have lowered my Cost Basis to $21,900 so I am barely up now (on paper) however I am holding long.

It is definitely a risk-asset, as it is now 90%+ correlated with the highly-volatile Nasdaq stocks, however I still believe it in Long Term.

At much lower levels than my BTC position, I also own positions in:

- Ethereum
- Litecoin
- Solana
- BNB
- AVS
-AVAX

Where are my BTC and Crypto people ??

Anything Crypto goes in here :)

Let's learn from each other and make some money !!
 
Last edited:

Tanko

Tanko

Joined
Oct 27, 2021
Messages
36,741
Why do I prefer Bitcoin over the other Cryptos (including Ethereum) ?

(in no particular order)

- It is branded. Like Kleenex (tissues) and Xerox (photocopies), it is branded. Laypeople use the terms "Bitcoin" and "Crypto" interchangeably.
- It is the original platform that the majority of others copied and built off of.
- Only 21 million will ever be created, so there is a finite supply.

There is so much more that the techies know about the platform and the functionality, etc, etc.

These are only the basics as I am a novice myself, and only started buying BTC back in January 2022 at $45K. I continued to dollar-cost-average, buying incrementally on the way down all the way to $16,500.

I have lowered my Cost Basis to $21,900 so I am barely up now (on paper) however I am holding long.

It is definitely a risk-asset, as it is now 90%+ correlated with the highly-volatile Nasdaq stocks, however I still believe it in Long Term.

At much lower levels than my BTC position, I also own positions in:

- Ethereum
- Litecoin
- Solana
- BNB
- AVS
-AVAX

Where are my BTC and Crypto people ??

Anything Crypto goes in here :)

Let's learn from each other and make some money !!
I have some BTC but I'm not expert. I'd call myself a novice.
Long-term hold for me.

I'm still working through the tax implications with the new reporting requirements from exchanges.

Look forward to any/all info people can provide on the best ways to bu/manage/sell crypto.
 

Ace7550

Ace7550

Joined
Oct 19, 2021
Messages
2,056
Why do I prefer Bitcoin over the other Cryptos (including Ethereum) ?

(in no particular order)

- It is branded. Like Kleenex (tissues) and Xerox (photocopies), it is branded. Laypeople use the terms "Bitcoin" and "Crypto" interchangeably.
- It is the original platform that the majority of others copied and built off of.
- Only 21 million will ever be created, so there is a finite supply.

There is so much more that the techies know about the platform and the functionality, etc, etc.

These are only the basics as I am a novice myself, and only started buying BTC back in January 2022 at $45K. I continued to dollar-cost-average, buying incrementally on the way down all the way to $16,500.

I have lowered my Cost Basis to $21,900 so I am barely up now (on paper) however I am holding long.

It is definitely a risk-asset, as it is now 90%+ correlated with the highly-volatile Nasdaq stocks, however I still believe it in Long Term.

At much lower levels than my BTC position, I also own positions in:

- Ethereum
- Litecoin
- Solana
- BNB
- AVS
-AVAX

Where are my BTC and Crypto people ??

Anything Crypto goes in here :)

Let's learn from each other and make some money !!
Hey Homie,
Good to see you at BMR! I love Bitcoin and Litecoin. That makes me a crypto dinosaur, but they are tried and true.
Any crypto being held long term should be held on a trezor or similar device. Don't hold large amounts on an exchange.
 

homie1975

homie1975

Joined
Oct 6, 2022
Messages
1,153
What exchanges are you guys using these days?

Time I move on from coinbase

I use Robinhood.
they have a Gold account ($5 per month) but you get 4% interest on your uninvested funds. breakeven to cover the $60/year for the Gold acct is $1,500 sitting there for 12 mos = $60 interest to cover the fees. so anything above $1,500 sitting in there longer than a year, you are making free money basically.

I like earning interest on uninvested funds sitting in brokerage acct instead of a CD because you can be very nimble and buy stocks and/or crypto at the drop of a dime right there in your account.
 

JDS

JDS

Joined
Dec 11, 2021
Messages
40,110
Thanks for posting this thread homie. Let’s hope the mods don’t move it. I believe the crypto market will have even plus year. So let’s talk about it shall we. 👍
 

lemartinsports

Joined
Jan 4, 2022
Messages
11,848
Thanks for posting this thread homie. Let’s hope the mods don’t move it. I believe the crypto market will have even plus year. So let’s talk about it shall we. 👍
i dont see why it'd be moved, this is some valuable info homie shared. especially since lots of BMR's contests are paid in BTC. posters could learn to invest their winnings and maximize in other forms of crypto... if they wanted to.
 

Ace7550

Ace7550

Joined
Oct 19, 2021
Messages
2,056
I use Robinhood.
they have a Gold account ($5 per month) but you get 4% interest on your uninvested funds. breakeven to cover the $60/year for the Gold acct is $1,500 sitting there for 12 mos = $60 interest to cover the fees. so anything above $1,500 sitting in there longer than a year, you are making free money basically.

I like earning interest on uninvested funds sitting in brokerage acct instead of a CD because you can be very nimble and buy stocks and/or crypto at the drop of a dime right there in your account.
Damn that's a great deal! So you can have cash in there and you get 4% return on it? I'm gonna have to look into this.
 

Tanko

Tanko

Joined
Oct 27, 2021
Messages
36,741
Homie, Any concern about those online banks/brokerages keeping your money? I assume they are federally insured like brick and mortar banks.

I've read Chime was closing accounts left and right a year or two ago and "holding" people's money.
That and the stuff with FTX makes you wonder if all these online places are safe. Feds aren't keeping up with the checks/balances on some of them.

I like the 4% on savings account. Can only get 3.25% at my credit union.
How secure is Robinhood? FDIC insured?
 
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