MISC Crypto Crew (MCC) Vol: XIII: Money printer goes brrrrrr, But Bitcoin doesnt

[gesten]

Still deciding on my strategy for the next quarter.

Part of me wants to wait for the FLARE airdrop for XRP on the 12, then sell off my initial investment the next time xrp bumps up against .70 cents.

The other part of me thinks Biden is going to get in office, issue a stimulus package which would likely make bitcoin/gold run up upon further fear of inflation. That bitcoin runup might or might not end up pulling ETH and XRP with it. Damn this chit is tricky.


Worst case scenario: I do nothing, and major investors dump on retail-hype and BTC price corrects between 12 and 15k which would probably send ETH and XRP to $400 and .40 respectively and I would have lost an opportunity to take profits.


Edit: Now that i've just typed and thought that out. I'm definitely selling and taking profits after the air drop. fuk that. We always post about "it's not a loss until you sell" when people get caught holding bags. Yeah, well they aren't secured gainz until you've sold either. learning lessons over here.

Since everyone’s selling for airdrop expect it to pump or crash a couple days before it

[eternalone423]

U sure about this? I have cash app never had to upload ID but I never used it for bitcoin yet

When you start trying to use bitcoin, they ask for ID, etc

[W1LLW]

Obligatory repost of this story that gets mentioned every time BTC is hovering around all time highs because it gets consistently more mind blowing as the price rises.






I would have literally roped.

[DavidL913]

My simple portfolio just consist of BTC, ETH and Defi Bluechips that I trade in and out of (LINK, YFI, AAVE, Sushi , SNX).

Anybody yield farming? I'm considering staking some Sushi.

[Rajc]

Cash app uses KYC. You have to upload ID and everything before being able to use a BTC wallet.

what is "and everything" ?
lol

[W1LLW]

My simple portfolio just consist of BTC, ETH and Defi Bluechips that I trade in and out of (LINK, YFI, AAVE, Sushi , SNX).

Anybody yield farming? I'm considering staking some Sushi.

God this sounds like a tax nightmare.

[HMFIC_BROWSIN]

Dat $200mil pizza-gate

[wave_length]

God this sounds like a tax nightmare.

It is anyway. At least where I live, if you hold crypto for over a year you can sell tax free. Short term trading isn't really a feasible option.

[DumpsterFire]

Slowly buying into ETH, mostly for FOMO

[eternalone423]

what is "and everything" ?
lol

Address info and other info that identifies you such as SSN

[DumpsterFire]

Slowly buying into ETH, mostly for FOMO

Someone please tell me I'm smart

[2020Wellness]

Someone please tell me I'm smart

You're buying at the top of a spike and at a point that's irregularly high on the trendline.

[Luc1fer]

Someone please tell me I'm smart

Nobody knows, but if I had to make a prediction I'd say the wave greed cycle hasn't kicked in yet.

The last wave of crypto caught some nerd interest ~May 2017, and public greed bubble hit in Dec 2017.

If the trend repeats, I'd put it on April/May 2021.

I have my desired investment allocation already in crypto, so won't be investing more, but I do advise some of my zero-crypto friends to buy some if they can tolerate the risk.

[DumpsterFire]

Nobody knows, but if I had to make a prediction I'd say the wave greed cycle hasn't kicked in yet.

The last wave of crypto caught some nerd interest ~May 2017, and public greed bubble hit in Dec 2017.

If the trend repeats, I'd put it on April/May 2021.

I have my desired investment allocation already in crypto, so won't be investing more, but I do advise some of my zero-crypto friends to buy some if they can tolerate the risk.

Thanks yeah I'm not investing much in it, maybe 5% of my total portfolio

[ghostfacedup]

Someone please tell me I'm smart

long term it's not a bad time. short term, probably not great. im waiting for a BTC pullback, but who knows.

[DavidL913]

God this sounds like a tax nightmare.

nah crypto tax services make it easy af. just upload transactions

[Parkerscott]

My simple portfolio just consist of BTC, ETH and Defi Bluechips that I trade in and out of (LINK, YFI, AAVE, Sushi , SNX).

Anybody yield farming? I'm considering staking some Sushi.

You are like 3 months too late. Yield farming has dried up. I haven't even bothered to look and see if anything is even available anymore. The yield is so low now that you would have to put maybe $50k in something for months just to recover the cost of gas. Not worth it.

[ghostfacedup]

What's the answer when someone says bitcoin mining is centralized in China and BTC is screwed if the CCP shuts down mining?

[jamalfudge]

What's the answer when someone says bitcoin mining is centralized in China and BTC is screwed if the CCP shuts down mining?

Probably will get a lot of smaller operations mining chitcoins to switch to BTC if that happens.

[ghostfacedup]

Probably will get a lot of smaller operations mining chitcoins to switch to BTC if that happens.

so long run that might even be a good thing? Could they stage a 51% attack?

[phillyfreak7]

It still blows my mind there are people in here that don't have the overwhelming majority of their positions in Bitcoin and some of you are ready to sell???

There are gonna be alts that 100x this run, but Bitcoin is an absolute lock. There is no way it doesn't break 20k and then much much more.

Anyone who sells under here is gonna regret it so much a year from now. Bookmark this

[Luc1fer]

Thanks yeah I'm not investing much in it, maybe 5% of my total portfolio

5% is a good upper bound, if you don't want to lose more than 5% of your overall portfolio and net worth. It's a pretty standard number which is tolerable and won't ruin your real investment plans.

If you're invested more in crypto than regular stock market index funds, you're either a moron or bonkers. And yes, I'll stand by that statement even if outcome biased people scream about how right they were in a year or two. I'm also hopeful for a crypto boom.

[phillyfreak7]

https://youtu.be/f18ZFN6uwvc

Bitcoin deniers, do you watch this and just think Michael Saylor is an idiot? I genuinely want to understand who has really researched Bitcoin, looks at the asymmetry of it, and honestly goes "nah, too risky to put about 10% of my money into"

[ghostfacedup]

https://youtu.be/f18ZFN6uwvc

Bitcoin deniers, do you watch this and just think Michael Saylor is an idiot? I genuinely want to understand who has really researched Bitcoin, looks at the asymmetry of it, and honestly goes "nah, too risky to put about 10% of my money into"

Great, Saylor is a genius indeed. But what about the mining centralization? What if the CCP wants a 51% attack? I still haven't heard a reasonable answer.

[wave_length]

https://youtu.be/f18ZFN6uwvc

Bitcoin deniers, do you watch this and just think Michael Saylor is an idiot? I genuinely want to understand who has really researched Bitcoin, looks at the asymmetry of it, and honestly goes "nah, too risky to put about 10% of my money into"

No he's not an idiot. His opinion is one reason why BTC has been on the rise lately. The reason why it hasn't exploded yet is because other very smart people see all the risks that are there as well. It's a very delicate balance that can at any time shoot up or down. The future is as always completely unpredictable.

[wave_length]

BTW, in 2013 Saylor said that BTC is completely worthless and will go to zero. He wasn't an idiot back then either.

[PimpMasterC]

Michael Saylor is a moron who clearly has a shallow understanding of bitcoin and the overall crypto market.

[Rajc]

insider here, today we will hit 20k

[wave_length]

Michael Saylor is a moron who clearly has a shallow understanding of bitcoin and the overall crypto market.

I thought you're done posting.

Saylor is and was always a gambler. He's one of those guys who talks a lot about his won bets and very little about his lost bets.

[W1LLW]

What's the answer when someone says bitcoin mining is centralized in China and BTC is screwed if the CCP shuts down mining?

The answer is block PimpC and stop listening to his shizo bullschit.