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

[Ace7550]

So is this ETF getting approved? Probably fly past 40k if it does.

 

[homie1975]

Chum change for you though.

it all counts JDer

until i am warren buffett, i won't be happy.

i guess i will never be happy LOL

i'm grinding.

 

[JDS]

it all counts JDer

until i am warren buffett, i won't be happy.

i guess i will never be happy LOL

i'm grinding.

I like your mentality homie your money never sleeps.

 

[ks1986]

Anyone else get that email from Kraken about the court case they lost and the info they're sharing?

 

[Ace7550]

Anyone else get that email from Kraken about the court case they lost and the info they're sharing?

I use kraken everyday but I didn't get it.

 

[Ace7550]

Anyone else get that email from Kraken about the court case they lost and the info they're sharing?

yep, you're right:

https://www.thestreet.com/crypto/policy/users-of-this-major-crypto-exchange-will-soon-have-their-data-sent-to-irs

 

[ks1986]

Wondering how they are going to view the use of crypto for sports betting. Lot's of transactions, but no real gains or loses because its being used for transactional purposes. Feels like this is going to be a big headache

 

[JDS]

Wondering how they are going to view the use of crypto for sports betting. Lot's of transactions, but no real gains or loses because its being used for transactional purposes. Feels like this is going to be a big headache

Welcome to the party pal, this has been a thing for a while now.

 

[ks1986]

Welcome to the party pal, this has been a thing for a while now.

What are people doing?

 

[Ace7550]

What are people doing?

I just pay my taxes and leave it at that. They wanna audit me and go through a ton of crypto transactions? Have a blast. In the end it will be a giant waste of my time and theirs.

 

[homie1975]

sold the rip on ETH and BTC

pocketed profits.

then rebought

rinse and repeat

 

[rolandcorts]

sold the rip on ETH and BTC

pocketed profits.

then rebought

rinse and repeat

So you are gambling you can guess the very very short term movements of BTC.
Congrats...

 

[jjgold]

Eventually, you go, broke trading coins short term

You only hear about the little wins

 

[homie1975]

So you are gambling you can guess the very very short term movements of BTC.
Congrats...

5 for 5 since i started doing this in March 2023.

i average down when it drops XX% and then sell the rips.

rinse and repeat.

so far, so good, but since i am a long term holder and i believe the LT payoff is still 7-10 years away, i look at it like options where I am collecting the premium while still holding the asset.

 

[rolandcorts]

5 for 5 since i started doing this in March 2023.

i average down when it drops XX% and then sell the rips.

rinse and repeat.

so far, so good, but since i am a long term holder and i believe the LT payoff is still 7-10 years away, i look at it like options where I am collecting the premium while still holding the asset.

Congrats, you discovered martingaling the stock market. Good luck with that.

 

[betwinnerinfoo]

Your preference for Bitcoin over other cryptocurrencies, including Ethereum, can be influenced by various factors, and individual preferences may vary. Here are some common reasons why people may prefer Bitcoin:

1. First Mover Advantage: Bitcoin was the first cryptocurrency, created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto. Being the pioneer, it has established itself as the most well-known and widely accepted cryptocurrency.
2. Store of Value: Many see Bitcoin as a "digital gold" and a store of value. The capped supply of 21 million bitcoins creates scarcity, and some investors view it as a hedge against inflation and economic uncertainty.
3. Security and Decentralization: Bitcoin's blockchain is considered highly secure and decentralized. The decentralized nature of the network, maintained by a large number of nodes around the world, adds to its robustness and resilience against censorship or control by any single entity.
4. Simple Use Case: Bitcoin's primary use case is as a digital currency or a means of value transfer. Its simplicity in design and focus on being a medium of exchange may appeal to those who appreciate a straightforward and reliable system.
5. Community and Recognition: Bitcoin has a large and passionate community of users and developers. Its recognition and acceptance among merchants and institutions contribute to its perceived legitimacy and usability.
6. Conservative Approach: Some individuals prefer Bitcoin because it has a more conservative approach to development and changes. Ethereum, for example, has undergone significant upgrades, such as the transition from Proof of Work to Proof of Stake, which introduces more complexity and potential risks.

It's important to note that while Bitcoin has its strengths, other cryptocurrencies like Ethereum offer different features and use cases. Ethereum, for instance, is known for its smart contract functionality, enabling the creation of decentralized applications (DApps) and decentralized finance (DeFi) projects.

Ultimately, individual preferences in the cryptocurrency space are subjective and may depend on personal investment goals, risk tolerance, and beliefs about the future of digital assets. It's advisable to research and understand the features and purposes of different cryptocurrencies before making investment decisions.

 

[homie1975]

Your preference for Bitcoin over other cryptocurrencies, including Ethereum, can be influenced by various factors, and individual preferences may vary. Here are some common reasons why people may prefer Bitcoin:

1. First Mover Advantage: Bitcoin was the first cryptocurrency, created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto. Being the pioneer, it has established itself as the most well-known and widely accepted cryptocurrency.
2. Store of Value: Many see Bitcoin as a "digital gold" and a store of value. The capped supply of 21 million bitcoins creates scarcity, and some investors view it as a hedge against inflation and economic uncertainty.
3. Security and Decentralization: Bitcoin's blockchain is considered highly secure and decentralized. The decentralized nature of the network, maintained by a large number of nodes around the world, adds to its robustness and resilience against censorship or control by any single entity.
4. Simple Use Case: Bitcoin's primary use case is as a digital currency or a means of value transfer. Its simplicity in design and focus on being a medium of exchange may appeal to those who appreciate a straightforward and reliable system.
5. Community and Recognition: Bitcoin has a large and passionate community of users and developers. Its recognition and acceptance among merchants and institutions contribute to its perceived legitimacy and usability.
6. Conservative Approach: Some individuals prefer Bitcoin because it has a more conservative approach to development and changes. Ethereum, for example, has undergone significant upgrades, such as the transition from Proof of Work to Proof of Stake, which introduces more complexity and potential risks.

It's important to note that while Bitcoin has its strengths, other cryptocurrencies like Ethereum offer different features and use cases. Ethereum, for instance, is known for its smart contract functionality, enabling the creation of decentralized applications (DApps) and decentralized finance (DeFi) projects.

Ultimately, individual preferences in the cryptocurrency space are subjective and may depend on personal investment goals, risk tolerance, and beliefs about the future of digital assets. It's advisable to research and understand the features and purposes of different cryptocurrencies before making investment decisions.

and FINITE.

only 21 million will ever exist. finite.

 

[rolandcorts]

The # of used pairs of underwear I have is finite. Finite is a necessary condition for value, not sufficient.

 

[Ace7550]

The # of used pairs of underwear I have is finite. Finite is a necessary condition for value, not sufficient.

Yes, but when it comes to currencies, finite is a pretty rare feature.

 

[homie1975]

The # of used pairs of underwear I have is finite. Finite is a necessary condition for value, not sufficient.

it was added to an already lengthy list.

just another factor in its favor.