$ (BTC) The Bitcoin Thread - NO SHITCOINERS ALLOWED

Vexillology said:
Honestly, with how USD is moving, I think people should re-conceptualize liquid cash as an investment with risks.
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This, hard assets seem like the no brainer move considering how upside down and completely detached from reality the United States (and most of the rest of the world tbh) current monetary policy approach is.
 
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Buckle up, it'll be a rollercoaster all the way to $164,486 on Sept 15th 2021. The time to buy back in is 1 yr later.

/Nostradamus
 
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Vitruvius said:
This, hard assets seem like the no brainer move considering how upside down and completely detached from reality the United States (and most of the rest of the world tbh) current monetary policy approach is.
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I'm for sure doing this but it's so difficult to know what to do with it. So cash is bad, do I want to put it in bitcoin at an all time high? Do I want to it in ethereum at all time high? Do I want to put it in the stock market at it's all time high? Do I want to put it in property at near all time high? Do I want to put it in gold at near all time high? It's a fucking everything bubble.
 
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melty said:
I'm for sure doing this but it's so difficult to know what to do with it. So cash is bad, do I want to put it in bitcoin at an all time high? Do I want to it in ethereum at all time high? Do I want to put it in the stock market at it's all time high? Do I want to put it in property at near all time high? Do I want to put it in gold at near all time high? It's a fucking everything bubble.
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Bullets.
 
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melty said:
I'm for sure doing this but it's so difficult to know what to do with it. So cash is bad, do I want to put it in bitcoin at an all time high? Do I want to it in ethereum at all time high? Do I want to put it in the stock market at it's all time high? Do I want to put it in property at near all time high? Do I want to put it in gold at near all time high? It's a fucking everything bubble.
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Unfortunately cash is starting to evaporate. There is no safe haven when a country defaults on its debts and enters a hyperinflationary spiral.
 
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melty said:
I'm for sure doing this but it's so difficult to know what to do with it. So cash is bad, do I want to put it in bitcoin at an all time high? Do I want to it in ethereum at all time high? Do I want to put it in the stock market at it's all time high? Do I want to put it in property at near all time high? Do I want to put it in gold at near all time high? It's a fucking everything bubble.
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The classic safe harbor currencies are Japanese Yen and Swiss Franc iirc. Just don't let choice anxiety paralyze you. You just have to leap in, that's the only way to get a feel for how to navigate the markets. Diversify, real estate, crypto, commodities, anything is better than holding on to hard cash that does nothing but depreciate (increasingly at an alarming rate in the last year or so) and earn you a pittance in interest payments. If you sit around worrying about missing out on the perfect opportunity you'll miss out on the 100 or so perfectly fine options that pass you by.
 
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Crypto does have some defense in a hyperinflation scenario in that its a global market tied to all economies. Of course all economies are tied to the US Economy so if America shits the bed everyone else is going to be covered in poo. Still think Land, Crypto and Precious Metals are the best place to be. Even if they are All Time Highs they won't fall as fast or as far as everything else. It could put you in a position to buy the bottom, whatever that may look like and take advantage of the inevitable rebound.

Unless of course we are looking a centennial recovery scenario like what happened when Ancient China's fiat money went poof. In which case Bullet futures are good and nothing matters at all, so who cares?
 
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I got a bunch of my covered calls called wondering what to do with that 33k I’ll have on monday. I have like 10k in BLOK and 5k in silver. I also have 500 shares of VXX at 12. Maybe a bit more?
 
Blake Chortles said:
I got a bunch of my covered calls called wondering what to do with that 33k I’ll have on monday. I have like 10k in BLOK and 5k in silver. I also have 500 shares of VXX at 12. Maybe a bit more?
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33k can probably buy some acreage somewhere with no requirement to build anything on it. Its harder then a stock or metal to unload once you have it though, but as a store of value you really can't beat land. Just make sure you buy somewhere with low property taxes. I'm obviously pretty blackpilled on the state of economy RN though, so take that caveat for what you will.
 
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mindlessobserver said:
33k can probably buy some acreage somewhere with no requirement to build anything on it. Its harder then a stock or metal to unload once you have it though, but as a store of value you really can't beat land. Just make sure you buy somewhere with low property taxes. I'm obviously pretty blackpilled on the state of economy RN though, so take that caveat for what you will.
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land as an investment should be thought of carefully:

Downsides:
You have liability risk, if someone walks through your land and fucks themselves up, they can sue. Putting up 'no trespassing' signs may mitigate this risk, but judges have been known to ignore this.
Property taxes can eat away at your investment - city/state/property taxes can chip away at that.
Upkeep: If it's by farms or important areas, you will be required to provide upkeep to prevent pests/fires/etc. Major pain in the ass.
The value of the land will not go up very much. Despite what people say, there's no shortage of land in America. Land is a multigenerational investment. It's something to invest in for your grandkids. Only problem with creating a multigenerational wealth plan is it takes only one fuckup kid to ruin it.

Pros:
Given all that, if you have kids, land is awesome. Teaching your son to fish, crawfish gathering, setting snares is something you cannot put a value on.
You may get lucky and find metal/mineral sources. Or an investor wants to buy, etc. Motherfucker 35miles from my land found a copper deposit on his and is in talks to sell the land, and the numbers thrown around are big.
Passive Income can be generated off land. let a nearby farmer use my land for cattle grazing, and let hunters use it for a price. Depending on where you live, you can contract with a lumber company and they'll plant trees on your land to cut every few years.
Last but not least, you have land and there's something very primal about that.
 
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world of shit said:
As someone that bought a shitload of land for my SHTF escape route, let me just say that land as an investment should be thought of carefully:

Downsides:
You have liability risk, if someone walks through your land and fucks themselves up, they can sue. Putting up 'no trespassing' signs may mitigate this risk, but judges have been known to ignore this.
Property taxes can eat away at your investment - city/state/property taxes can chip away at that.
Upkeep: If it's by farms or important areas, you will be required to provide upkeep to prevent pests/fires/etc. Major pain in the ass.
The value of the land will not go up very much. Despite what people say, there's no shortage of land in America. Land is a multigenerational investment. It's something to invest in for your grandkids. Only problem with creating a multigenerational wealth plan is it takes only one fuckup kid to ruin it.

Pros:
Given all that, if you have kids, land is awesome. Teaching your son to fish, crawfish gathering, setting snares is something you cannot put a value on.
You may get lucky and find metal/mineral sources. Or an investor wants to buy, etc. Motherfucker 35miles from my land found a copper deposit on his and is in talks to sell the land, and the numbers thrown around are big.
Passive Income can be generated off land. I let a nearby farmer use my land for cattle grazing, and I let hunters use it for a price. Depending on where you live, you can contract with a lumber company and they'll plant trees on your land to cut every few years.
Last but not least, you have land and there's something very primal about that.
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You're missing the most important part; it's QUIET. I know this isn't derived from an investment perspective but as a Boomer I have learned to appreciate the art of not hearing shit constantly.
 
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world of shit said:
Wow, that was crazy. I don't think I've ever seen so many fucking longs liquidated. Like 2billion liquidated in minutes. A few whales are swinging dick tonight.
Buy the dip faggots.
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It really underscores how immature the crypto market is still. The enormous wealth made by these people is still not really real to them. I expect this level of volatility is only going to get worse this year.
 
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So how long is this downturn looking to last? Just a hiccup on the way to 6 digits, or are we looking at another cliff drop like when it first hit 20k?
 
ditto said:
Bitcoin crashing because of a blackout in Xinjiang? How does that even work?
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Bitcoin miners are computers, they need electricity (much of it stolen), and if there's a blackout, no electricity. And vast amounts of Bitcoin mining are done in China because it is a corrupt place where electricity can be diverted by greasing the right palms.
 
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mindlessobserver said:
It really underscores how immature the crypto market is still. The enormous wealth made by these people is still not really real to them. I expect this level of volatility is only going to get worse this year.
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I think the systems aren't used to having everything happen so fast. I'd bet if longs got liqqy'd in the past, there's a trickle down timeline where people are able to alert friends and various players position themselves to mitigate the damage. With BTC, it's a snap of the fingers, and the spotlight comes on in the alleyway.....turns out a lot of these guys still have their pants around their ankles.
 
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