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macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
1,919
1,530
Easy to criticize BTC, when you were probably one of the millions that were late to the party. You think its worth Zero? lol.. I had BTC before most even knew what it was. I bought my first coins on the dark web, when BTC was under $100 for one. They were actually tough to get. No one wanted to sell you any. The few that did, you had to buy with a green dot money card. Say BTC was $75 for one. They would charge you $100 for one.

Is all my money in Crypto? Hell no.. Some I am waiting for an even bigger payday. I recently bought LUNA again just for the hell of it. Why not? Pennies on the dollar. I do like physical assets like gold/silver. Bought gold many years ago when it was $6-700 ounce. Just done near tripled my money, and I am still buying it. I even have crypto backed by gold..

Not sure if you're being sarcastic or not, but Trezor is one the best wallets out there to store crypto. There are others I like, but best ones are the ones you have offline.
That is pretty cool. I remember the early days, and I was in later than you. The idea of how you could acquire. The ship had sailed on GPU mining by the time I got involved, so my 'in' was mining script based coins. Really crazy looking back at it and why I did it. I took about 10k and built mining rigs. At the time I had no work and no source of income. It was quite the risk, but I just went with my gut.

Then it all went to crap. I put everything on a thumb drive and said 'oh well'. Then in 2017, my buddy called me and asked me if I still had the coins. Turns out I now had a lambo (The joke about everyone wants to buy a lambo with crypto). Didnt sell and have never sold. Life is crazy sometimes. But starting in 2020, I believed enough in it that I started accumulating more DCA. Starting at 6, 8, 9 12, 13 14. I stopped buying at 14 because I got nervous. Then I have bought at 58, and have since bought at 42 and 38 respectively a few weeks back.

I dont get emotional about it. Again, this is a risk that I am well aware of.

I feel short term we may see lower lows. But the 25k may have been bottom. Could possibly have wanted the 21k of the MicroStragetery margin call, but that might take a lot of pressure to hit that leverage call and they have more than enough to cover. One thing about this market, is it is still being manipulated to wipe out short positions. The big money and large wallest are the ones buying all the dips. So I tend to follow the money. All big money is doing all it can to buy at these levels.

If you were a BTC whale with billions of liquid at your disposal. More than you could spend in any one life. If you believed it was worth nothing, I think they would punch out. Not be buying more at every chance.
 
ItalianMuscle

ItalianMuscle

Drama Queen senior Vip
Sep 1, 2010
2,534
908
That is pretty cool. I remember the early days, and I was in later than you. The idea of how you could acquire. The ship had sailed on GPU mining by the time I got involved, so my 'in' was mining script based coins. Really crazy looking back at it and why I did it. I took about 10k and built mining rigs. At the time I had no work and no source of income. It was quite the risk, but I just went with my gut.

Then it all went to crap. I put everything on a thumb drive and said 'oh well'. Then in 2017, my buddy called me and asked me if I still had the coins. Turns out I now had a lambo (The joke about everyone wants to buy a lambo with crypto). Didnt sell and have never sold. Life is crazy sometimes. But starting in 2020, I believed enough in it that I started accumulating more DCA. Starting at 6, 8, 9 12, 13 14. I stopped buying at 14 because I got nervous. Then I have bought at 58, and have since bought at 42 and 38 respectively a few weeks back.

I dont get emotional about it. Again, this is a risk that I am well aware of.

I feel short term we may see lower lows. But the 25k may have been bottom. Could possibly have wanted the 21k of the MicroStragetery margin call, but that might take a lot of pressure to hit that leverage call and they have more than enough to cover. One thing about this market, is it is still being manipulated to wipe out short positions. The big money and large wallest are the ones buying all the dips. So I tend to follow the money. All big money is doing all it can to buy at these levels.

If you were a BTC whale with billions of liquid at your disposal. More than you could spend in any one life. If you believed it was worth nothing, I think they would punch out. Not be buying more at every chance.

BTC was just used as a form of payment on dark web. Some vendors accepted, some did not. They were still accepting money packs, gift packs etc. I keep thinking what if.. What if I had btc when it was pennies on the dollar? I did buy some other crypto when it was pennies on the dollar, and even some way below a penny. Did I buy worthless crypto? Who knows, only time will tell. But if it pays off, I will more than likely sell off.

That is cool you bought a Lambo with it. That may be next on the bucket list, if the wife will let me. :)

Yes there is risk involved, just like playing cards. Have to know when to hold them and know when to sell them.

Have I lost money on crypto? Of course, I think everyone has. No one can predict what's going to happen next. I think it has leveled off at $30K for a bit, but will go back up. Just need another Elon musk or another big whale investor and send crypto soaring again. Some crypto I won't buy again.. dogecoin for one. It had its peak at .74cents? I have a friend that had $70K invested in it. He had over a million dollars at one point. Held on to it, like a dumb ass and now its at .09 - .10cents?
He asked me what I would have done.. I would have sold everything. Paid your taxes, and walked away.

I watched Saturday night live when Elon musk was hosting.. I was watching Dogecoin the whole time, waiting
for it to break $1. It never did. I had my sell point in the mid .60cent range if it ever got that low, and it eventually did. I sold all I had, and walked away. Swapped it for BTC, and then made more with that.. :)

The future is going digital, and it has already started. All the pro sports arenas and playing fields by me, no longer accept cash. It is credit card/debit card only. There is even a Starbucks by me, that doesn't take cash anymore. My wife found out the hard way one morning, when all she had was cash on her. lol.. The federal government is going to do away with physical money. You're going to be paying by debit/credit card EVERYWHERE. There is already a coin shortage, and banks are closing by the dozens. So if you have stashed money, you better start planning for the future. The gov't is going to make you turn all your cash in, so it will be worthless if you have any. They are going to find out who has what. Some of us are probably going to see this before the end of our lifetime... Buy GOLD/SILVER now, and keep buying it...
 
Last edited:
captaincaveman

captaincaveman

TID Board Of Directors
Oct 17, 2010
1,248
407
Easy to criticize BTC, when you were probably one of the millions that were late to the party. You think its worth Zero? lol.. I had BTC before most even knew what it was. I bought my first coins on the dark web, when BTC was under $100 for one. They were actually tough to get. No one wanted to sell you any. The few that did, you had to buy with a green dot money card. Say BTC was $75 for one. They would charge you $100 for one.

Is all my money in Crypto? Hell no.. Some I am waiting for an even bigger payday. I recently bought LUNA again just for the hell of it. Why not? Pennies on the dollar. I do like physical assets like gold/silver. Bought gold many years ago when it was $6-700 ounce. Just done near tripled my money, and I am still buying it. I even have crypto backed by gold..

Not sure if you're being sarcastic or not, but Trezor is one the best wallets out there to store crypto. There are others I like, but best ones are the ones you have offline.
Not being sarcastic at all. Great conversation. Yes....I understand crypto and have a Trezor among other things. It's just part of an overall plan that each of us hopefully have. A few of us have to be right. haha.
 
macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
1,919
1,530
@ItalianMuscle No I was joking about the buying a lambo with crypto. That is the meme where everyone thinks they are going to get rich and buy a lambo. I have never sold any crypto. Just hodling.

So some very interesting metrics from last week. We can all post 'opinion' articles but I like things that are factually based and I can draw my own conclusions. This is a table of inflows vs outflows last week from intuitional investors.

Really an amazing statement to what the feeling is about btc. .3 trillion inflow over a few days. So again, I tend to follow the money. Still think a lower bottom could exist, but the longer we hold above 30k the more it looks like 25 k may have been it.


iQx4oVI.png
 
M

Massive G

VIP Member
Apr 10, 2020
309
250
Wish I had the money to buy in crypto but all my shit is tied up in 3 cars paid off and depreciation, a paid off house and 4 stock accounts shrinking before my eyes with a bank account draining more and more each day due to inflation. Good fortunes to those who have it. I hope it does turn out well for those in the long term. Not sure cash is going anywhere with trillions the cartels move each year. I am sure they got a ton of crypto too.
 
ItalianMuscle

ItalianMuscle

Drama Queen senior Vip
Sep 1, 2010
2,534
908
@ItalianMuscle No I was joking about the buying a lambo with crypto. That is the meme where everyone thinks they are going to get rich and buy a lambo. I have never sold any crypto. Just hodling.

So some very interesting metrics from last week. We can all post 'opinion' articles but I like things that are factually based and I can draw my own conclusions. This is a table of inflows vs outflows last week from intuitional investors.

Really an amazing statement to what the feeling is about btc. .3 trillion inflow over a few days. So again, I tend to follow the money. Still think a lower bottom could exist, but the longer we hold above 30k the more it looks like 25 k may have been it.


iQx4oVI.png

My bad, thought you bought a Lambo. Maybe Ill get one someone with my crypto when its time to retire and liquidate everything. :)


Interesting read.. It is so hard to predict what will happen with any crypto. There are hidden gems out there, just have to be lucky and get it at 0.0000001. I still believe in ETH, and hope my TRON gets to $1 someday.
Possible BTC could take another big shit again, just glad to see it has finally held around $30K...

Best of luck to all the crypto investors..
 
ItalianMuscle

ItalianMuscle

Drama Queen senior Vip
Sep 1, 2010
2,534
908
Wish I had the money to buy in crypto but all my shit is tied up in 3 cars paid off and depreciation, a paid off house and 4 stock accounts shrinking before my eyes with a bank account draining more and more each day due to inflation. Good fortunes to those who have it. I hope it does turn out well for those in the long term. Not sure cash is going anywhere with trillions the cartels move each year. I am sure they got a ton of crypto too.

If your cars are newer they should be worth a lot more on the market. I recently sold a Dodge Ram Truck. For years KBB had it listed for under $10K. This year was different. They had it listed over $20K. I was offered $3K over my asking price. SOLD! I put that down payment on another vehicle, and that vehicle was $115K. Just for shits and giggles I listed it on KBB, I was offered $130K for it. (It is not for sale, though) So, its a supply and demand market right now for everything..including homes!
 
macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
1,919
1,530
My bad, thought you bought a Lambo. Maybe Ill get one someone with my crypto when its time to retire and liquidate everything. :)
Ive been lucky enough to have a couple. And currently have one. Just never used crypto to buy them ;)

I agree with you on physical assets. My huracan is worth about 50k more than I paid for it pre-covid. It is for sale right now. Looking to move to a 720s for a while I think. Again, no crypto to buy toys though.

When I sold my Gallardo a while back, I put all of it in BTC. I am down on that currently, but I have taken opportunities to increase my BTC where I can. I have played with the idea of doing the same when I sell my H. Thats about 9 BTC at current levels. Part of me wants to do it, but I think my exposure to BTC is enough that I dont think more will change much for me. Plus I have a rule with 'toys' and I wont buy them unless I can pay for them.

I am feeling really good about BTC right now. But still think we could see mid 20's again on about 25% confidence level. If it keeps staying over 30k, the chance that 25k was the bottom becomes more clear.
 
macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
1,919
1,530
OK.... I put my money where my mouth is . Bought more BTC today at 28700.

Looking at the metrics, here a chart of long positions and magnitude of them taken out by whales. The whales are the people who buy and sell 10's and 100's of millions in positions.

We are at an unprecedented time where the big money has taken the LARGEST long position in the history of BTC.

These are guys who can (and do the best) to manipulate the market. They have also bought 100's of millions as people have sold off. So I dont think these people are dumb. Like I said, I follow the money. So I added again to my position. It still may go lower, but there are also some other charts which make me continually fell good about the long term

61AIbvo.png
 
ItalianMuscle

ItalianMuscle

Drama Queen senior Vip
Sep 1, 2010
2,534
908
Ive been lucky enough to have a couple. And currently have one. Just never used crypto to buy them ;)

I agree with you on physical assets. My huracan is worth about 50k more than I paid for it pre-covid. It is for sale right now. Looking to move to a 720s for a while I think. Again, no crypto to buy toys though.

When I sold my Gallardo a while back, I put all of it in BTC. I am down on that currently, but I have taken opportunities to increase my BTC where I can. I have played with the idea of doing the same when I sell my H. Thats about 9 BTC at current levels. Part of me wants to do it, but I think my exposure to BTC is enough that I dont think more will change much for me. Plus I have a rule with 'toys' and I wont buy them unless I can pay for them.

I am feeling really good about BTC right now. But still think we could see mid 20's again on about 25% confidence level. If it keeps staying over 30k, the chance that 25k was the bottom becomes more clear.

Have you ever heard of crypto trading bots? Ive looked into it, but I am hesitant to invest money(Crypto) in it.
Ive seen posts at other forums of members making money, not a lot but some are making $20-$100 day not doing anything, but letting the bots do their thing while you goto work, or just sleep. I guess I am not grasping the whole concept. A little bit what I somewhat gather, so one exchange has btc buying for $30,000, another exchange has it buying at $30,200. The bots will buy at $30K, and sell on the other exchange at $30,200, or something to that effect. I know there is more to it than just that, but seems to farfetched or even a scam.. Then I worry about the tax side. If these bots are doing 100s of trades/sells per week, just seems like a nightmare when it comes tax time.

Some websites that I was looking into for it..

cryptohopper.com
pionex.com
3commas.com
 
macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
1,919
1,530
Arbitrage trading used to be a thing. Not really so much now. So many scams when it comes to crypto. Everyone will tell you they make millions doing it. Been around long enough to know most people are full of sh!t.

About a year ago, I thought that I might want to trade. I looked at what I thought the metrics would be and ran a 12 month scenario. My daily metrics would be I would daily trade in play approx 10 BTC. Never trading more than that in case a black swan event. I had thought my system would work, and the entire time I was going though it and calculating my gain loss, using the metrics I had put in, I thought it was going to be great.

Turns out, my sim showed me I would have LOST money. Fact is in 2021, 90% of the gains happened in 10 days. Metrics and moving averages have lag. And trying to swing trade BTC, you miss too many indicators. Just not worth it.

Couple that with tax implications, I decided that I would just never trade. My approach was to accumulate and hold.

If I was newer to the space I would play a larger portion of my portfolio in higher risk. Something like 50%BTC, 10%ETH and and 40% in low cap alts spread hoping for a moon shot.

Me, I hold a relatively small amount of alts. I am 95% BTC / 5% ETH (I dont even count my alts in my crpto holdings as they are spread out in stuff hoping for a few big hits. If not, they will be worthless essentially in a few years if history is any indication of the future.)

I am 50/50 thinking we still might see low 20's, but I also think 30k btc is a value either way. So I am still accumulating when I have extra to grow a bigger stack. I think a year from now, we all will be saying 'remember when you could have bought below 30'. BUT we may see some lower lows.... 18-20 even. All part of this. That is why I am not short term.
 
sityslicker1

sityslicker1

TID Board Of Directors
Oct 6, 2010
905
395
bitcoin is down over 50% from its high, no biggie keep sipping on your coffee everything will work out just fine….

my post was to put the price of bitcoin out there for those people who don’t follow it regularly so they could see where it’s at. then I’ll keep posting more prices when it gets below 30k and then when it crashes to 10k.

all the smart money sold between 50k and 69K .
It had this same trend just a couple years ago didn't it? It got way up there over 50k per btc and then dipped all the way down to 14k was it? It was a pretty dramatic drop but in that same year it did rebound and reach a ATH at 68k before crashing again present day.

Do you all think it possible for it to happen a second time? Or am i being overly optimistic and naive. Can you imagine buying a at 20k or less and then it rebounding up and beyond 68k. I know it seems impossible but it did do this once before so it's not completely out of the question.
 
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