Official Bitcoin Thread

[pdino]

^take the slow and steady gains of the stock market then. Crypto going to rally again hard and crash again hard. There were a dozen of us in here warning ya'll BEFORE the crash that the market is frothing and people FOMOing in

 

[pdino]

this thread is going to look very different in a few months. always easy to run into a position that's already exploding. where will you be during the sell offs? during the consolidation? if you think this is and always will be easy, go look at how growth stocks have been acting in 2021 vs 2020. crypto WILL follow that trend eventually. and those of you who are late, reckless, shortsighted, with poor perspective will get murdered. AVOID being that person in the future, make a plan and execute your process. this ride is closer to the end than the start.

Just wanted to reiterate this. The highs are really high in Crypto and can bring great returns/riches. But, the market is extremely volatile and the lows are EXTREMELY LOW.

Took this from wikipedia: October 2017, and the price of Bitcoin fell below $4,000, representing an 80 percent decline from its peak the previous January. Bitcoin reached a low of around $3,100 in December 2018. From 8 March to 12 March 2020, the price of Bitcoin fell by 30 percent from $8,901 to $6,206.

We're talking 80% declines in a couple months, 30% declines in DAYS.

Get your returns, get your $.

Just know the cryptocurrency space can turn sideways real quick. People defend that the crash won't happen again like before because the market cap and space is bigger, it's more mainstream etc. To me, that means a lot more people in it for the quick buck, soft hands that are OUT as soon as they're not getting their returns. This isn't going to lessen the blow of a crash, it's going to increase the crash.

Here's a couple warnings from early May when things are peaking.

 

[ballinsam23]

Here's a couple warnings from early May when things are peaking.

For every 5 people that were saying this is too high there were 5 people saying 100k in July. Point is you never know and it’s impossible to time it. It’s risky *** hell but I’m fairly convinced most people lose their profits or are in the negatives.

 

[s0lefunk]

^Depends. If you DCA’d into stable coins for the past 6 months you should be UP. But just like the stock market, time in the market beats timing the market. Volatility works both ways and gains/losses are realized only when you sell.

 

[shazay]

People who fomo in and get washed are the dumb money. Just DCA (in BTC and ETH) and check back in a few years. It has nothing to do with luck.

 

[D Double]

Kusama bouncing back the most in my portfolio every time BTC has a speck of green.

For those not following the DOT/KSM ecosystem, I would keep my eyes on what parachain auctions in the following weeks do for Kusama's price because we're going to get the same action replay for Polkadot. Obviously we still have to respect what his highness, Bitcoin does but I would still keep an eye out.

^Depends. If you DCA’d into stable coins for the past 6 months you should be UP. But just like the stock market, time in the market beats timing the market. Volatility works both ways and gains/losses are realized only when you sell.

This right here

By now a lot of people know what crypto is like so risk management should be a priority
Even someone like me who plays a high risk strategy, i'm still no where near red and that's with me having barely any stables to take advantage of times like this.
I still bought the dips though.

If it stays like this for a couple more months, I can pick up solid coins for cheap instead of buying presales which are more risky.

Me and my co-worker at work shake our heads everytime we talk about not loading up in 2020.
Everything was for sale and I stood there like an idiot

Once you've made a decent bag, you don't even need to take much risks. Yield farming and Celsius with stables could make you gains while you wait for the next bear cycle to come up and you rinse and repeat.

I don't understand the bearish sentiment on crypto sometimes when Fiat and the current state of affairs is not that much better.
I'm even hoping stable coins for Pounds and Euros become more commonplace because USD stables are not even looking like the best hedge for crypto volatility.

 

[JusaVibe]

I know a ton of you were in AMP and congratulations:

 

[CrownRoyalDaddy]

Just came to post that. Just dropped another $2300 in

 

[stuntman mike]

ahhhhh no wonder my portfolio is not in the dirt.

 

[mplsdunk]

glad I got amped up before it hit Coinbase.

 

[JusaVibe]

glad I got amped up before it hit Coinbase.

that’s how you do it

 

[CrownRoyalDaddy]

I have almost 130k AMP

I feel like this **** really bout to take off now. Did not expect it this soon

 

[mplsdunk]

Dope, I have a few stocks I’d like to flip to amp but I can’t at the moment because they’re in the red. I can’t lock in that L.

 

[kingsin]

I was following someone's advice waiting for amp to dip below .05 to load up, just threw a few grand in

Let's see what it do

 

[ballinsam23]

What’s the longest you guys waited for a transaction confirmation When transferring wallet to wallet.

 

[stuntman mike]

AMP was at .03 for quite a bit last week. we'll see what happens on thursday but i'm guessing things would be really different with the amp price action around the coinbase listing if bitcoin wasn't dumping right now. plus side of that is my wife's BTC buy order at 32 was filled so we are slowly accumulating in the family account.

D Double my wife is adding a little to the family DOT bag. i wish we could do KSM but it's not on the limited exchanges we have access to. we agreed to mostly grab BTC and ETH for the family portfolio.

What’s the longest you guys waited for a transaction confirmation When transferring wallet to wallet.

i haven’t done many but i recently had gemini to metamask taking over 5 minutes. that was the longest for me.

 

[naijaboy]

What’s the longest you guys waited for a transaction confirmation When transferring wallet to wallet.

I had an ETH transfer to metamask take like 4 hours.

 

[johnnyredstorm]

Bear markets are for research and dca’ing.

you don’t make your money buying in bills, the riches comes from buying in bears and waiting.

my focus is to continue dca into my holdings and wait for bargain basement deals in alts I don’t own. Like rune under $5 and Luna at $1. Dot at $10. Those prices will happen if we continue to sell off like this. If we stabilize, then that’s cool, I’m DCA’ing into my strongest conviction ideas.

 

[stuntman mike]

interesting how there were a bunch of tweets this past weekend hinting at AMP moves. there were a couple of people that grabbed large amounts of amp tokens during the miami bitcoin conference. crypto insider info is real
i’ll be looking out for the dump soon after coinbase trading pumps it up.

one of the tweets from this weekend:

 

[polosanddunks]

I ain’t buying a single thing right now. The time to buy was months ago and bear market and sit comfy right now.

 

[johnnyredstorm]

interesting how there were a bunch of tweets this past weekend hinting at AMP moves. there were a couple of people that grabbed large amounts of amp tokens during the miami bitcoin conference. crypto insider info is real
i’ll be looking out for the dump soon after coinbase trading pumps it up.

one of the tweets from this weekend:

I wanted to double my stack on the El Salvador news but didn’t have the cash free to do so. The buying over the weekend was directly related to that. If bitcoin is tender, someone needs the ability to spend it without worry of fraud or confirmation times for the merchant.

 

[stuntman mike]

i’m pretty sure dude knew something and wasn’t the only one. the big moves were people converting alts and stables to AMP way after the el salvador announcement. plus, dude is gloating now. he seems like a weirdo though.

 

[noskey]

Glad I scooped a small bag of AMP last week. Would like to add more to average down my cost basis before it runs again.

 

[D Double]

AMP was at .03 for quite a bit last week. we'll see what happens on thursday but i'm guessing things would be really different with the amp price action around the coinbase listing if bitcoin wasn't dumping right now. plus side of that is my wife's BTC buy order at 32 was filled so we are slowly accumulating in the family account.

D Double my wife is adding a little to the family DOT bag. i wish we could do KSM but it's not on the limited exchanges we have access to. we agreed to mostly grab BTC and ETH for the family portfolio.


i haven’t done many but i recently had gemini to metamask taking over 5 minutes. that was the longest for me.

I'm very bullish on DOT. i just think the way they've gone about their plans with DOT/KSM and parachains was well thought out and development is going well.
Out of all the "ETH Killers", it's by far the one I've seen with the most projects for and it make sense since it's founder was basically one of the big brains behind ETH.

Kusama is undervalued though IMO since peolpe still think it's just a test network when it it's more than that but Polkadot is still the main main coin.

Polkadot is Thor and Kusama is Loki basically

 

[johnnyredstorm]

Either SBF steps in on every dip, or some other fund is bidding up SOL. Loving how this looks on the 4hr, needs to close green and then get through 44.