$ (BTC) The Bitcoin Thread - NO SHITCOINERS ALLOWED

I glow in the dark said:
Did I fuck up by buying right now or just keep holding it?
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Depends on whether it's a long hold or you intended to make a quick profit. You'd probably have been better waiting for a dip and trying to buy at or near the bottom. So you're probably looking at a sickening roller coaster ride in the relatively near future, but I wouldn't panic unless you need that money now.

Obviously crypto is the kind of asset you don't want to invest in to an extent you'd be shrekt if it crashed.
(((Obar Lazcano Kamz))) said:
I have no clue and i follow eth. I would say yes but only because im biased :).
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I read that as "based."
 
I glow in the dark said:
Did I fuck up by buying right now or just keep holding it?
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You're fine. There's gonna be no boom as long as inflation is and the tensions in the middle east are like this. Last time it took 3-4 months to after halving to start. And that was with rock bottom interest rates and Covid stimulus money.

It might take longer this time with monetary policy as tight as it is.
 
Stalker said:
But I would like to hear why this time will be different.
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the halvening rises the value because the articles about the halvening lead to retards discovering crypto for the first time and now there's no one who hasn't known about crypto. it reminds me of how every generation learned about Chris-chan or the RLM videos on the prequels but now its so well known even Fox News is talking about it.
Cornstarch Colonizer said:
. There's gonna be no boom as long as inflation is and the tensions in the middle east are like this. Last time it took 3-4 months to after halving to start. And that was with rock bottom interest rates and Covid stimulus money.

It might take longer this time with monetary policy as tight as it is.
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thats my favorite part about the ATH reports. yeah it bitcoin was worth more than it was 3 years ago, but the dollar has dropped so much that $70k is worth a lot less., that was a down payment on a house 3 years ago. now there are base models for cars that are more than 70k.
 
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Get the rope Macaulay! said:
the halvening rises the value because the articles about the halvening lead to retards discovering crypto for the first time and now there's no one who hasn't known about crypto.
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That really depends on when, because there's often a nice run-up in the period before the halving followed by a correction, and this can be fairly drastic, followed by a short period of stagnancy and then TO THE MOOOOOOOOON!
 
I glow in the dark said:
Did I fuck up by buying right now or just keep holding it?
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You bought in the low sixties? I think that's good. I bought at $64k, $62k and $60k the last few days. The last time we came out of a bear market and set a new ATH (around $20k), it ended up going up over 300% over that new ATH before entering the next bear market. And it usually goes pretty crazy a little bit after the halvening, which should be in a few days.

I honestly have no idea about how important the newly approved Hong Kong ETFs will be but the US ones are still another reason why I'm excited about Bitcoin this year.

I'm no expert though, I just know the basics and have been lucky so far.

*Edit: fixed redundancy.
 
That Pharmabro dude claims again that there‘s a high probability that BTC is going to hit the $1m mark by the end pf the year. Huge if it unfolds:
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Source: https://x.com/martinshkreli/status/1781718798292185435
 
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Im autistic when it comes to money because I only know how to calculate percentages and Im curious about if any form of bitcoin could be a long term investment strategy, I was dming a user about monero and I got a tad bit worried because I just want something specifically long term so I can forget about it and not have to worry too much about it, I wanted to invest a little bit at a time over a long period just to see where im at in a handful of years. If anyone has anymore information feel free to dm me as to not shit up the thread. Feel free to also let me know if this is the wrong place for this.
 
PunkinMan said:
Im autistic when it comes to money because I only know how to calculate percentages and Im curious about if any form of bitcoin could be a long term investment strategy, I was dming a user about monero and I got a tad bit worried because I just want something specifically long term so I can forget about it and not have to worry too much about it, I wanted to invest a little bit at a time over a long period just to see where im at in a handful of years. If anyone has anymore information feel free to dm me as to not shit up the thread. Feel free to also let me know if this is the wrong place for this.
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Unless you're really familiar with crypto I'd make it a modest part of your portfolio, not something that would hurt if it all went belly-up. I think something like an outright breaking of the blockchain is pretty unlikely. If it were possible someone would have done it already, either as some kind of short scam or as an overtly terrorist act. However, there's always a very uncertain regulatory environment around it, and the behavior of the market to unusual events can be paradoxical, i.e. some major prosecution of BTC resulting in it somehow going up (because of a supply pinch).

Right now is probably a pretty good time to buy modestly as the so-called "halving" has limited supplies and it's just dipped, and what has usually happened is that it begins an ascent at this point. I'd buy modestly because it isn't certain exactly when that kicks in.

As for general investing, unless you have specific experience not just day trading, but day trading crypto, you want to hold on to it for at least a year to avoid punishing short-term capital gains taxes. At least if complying with tax laws is something that concerns you.

If you feel uncomfortable with the actual technology and specifically the software or the tech end of it, you might prefer to invest in a fund denominated in BTC that is managed by someone else, but that's up to you.

The big problem with BTC is the high level of scams and frauds that go on. Essentially trust no one unless you know exactly who they are, or are dealing through a trusted escrow. Anything whatsoever involving you taking actual money via PayPal or anything reversible is almost always a scam, i.e. send you the money, get the crypto, reverse charges. Similarly anything promising an unrealistic rate of return is one of the many Ponzi scams that abound in the crypto world.

That said, I've dealt with crypto in small and medium sized amounts for 10 years and the only time I got scammed was breaking my general rule of loaning to a gambler (who had always paid back in the past with interest but then did an exit scam of borrowing from a bunch of people and absconding). Even in that case I was still ahead on the guy, who was a degen who would often lose back the very money I had just loaned him minutes earlier.
 
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