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Misc Crypto trading

Gopack42 said:
BTC....and I own it, along with ETH, SOL, LUNA, and some minor MATIC, LINK positions...
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your cryptocurrency investments are ideal...
I equally invest in Top 10 coin/tokens; re-balance once quarterly; DCA and do not follow any metrics (with the exception of market cap); I stake exclusively on Kraken and those investments that I cannot stake I transfer to Nexo for interest accrual; I use Coinbase Card for 4% back in stellar/xlm (I've rec'd more than $800 in 9 weeks in stellar...and this total is after the recent cryptocurrency pullback); my only exception to puchasing Top 10 coins is Nexo - I purchase these coins to maintain platinum level on their platform - this is still a top 100 coin (haha and try to easily purchase Nexo cheaply! contemplate this: XLM [on CB] -> transfer to Binance US -> purchase BNB -> transfer to Trustwallet -> swap for Nexo -> transfer to Nexo account)
 
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KyloG said:
...I personally think btc is going below $20k and probably closer to $10k over the next 12-24 months...
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very possible...I do not recommend a large % of one's personal investments in the cryptocurrency space (perhaps no more than 10%)
my investment timeline is 10+ years...I do strongly feel that "decentralized" blockchain technology will be transformative in the next decade...not only influencing finance but everything else...
as I noted above, I'm underground in a bunker - will emerge in 2023 (maybe 2024!)
 
drfranklin said:
your cryptocurrency investments are ideal...
I equally invest in Top 10 coin/tokens; re-balance once quarterly; DCA and do not follow any metrics; I stake exclusively on Kraken and those investments that I cannot stake I transfer to Nexo for interest accrual; I use Coinbase Card for 4% back in stellar/xlm (I've rec'd more than $800 in 9 weeks in stellar...and this total is after the recent cryptocurrency pullback); my only exception to puchasing Top 10 coins is Nexo - I purchase these coins to maintain platinum level on their platform - this is still a top 100 coin (haha and try to easily purchase Nexo! contemplate this: XLM (on CB) -> transfer to Binance US -> purchase BNB -> transfer to Trustwallet -> swap for Nexo -> transfer to Nexo account)
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I use Celcius for staking, but I'm seriously thinking about pulling things out and putting things in a cold wallet (I use SafePal). I'm just not educated enough on things about all the inner workings of staking, pools, farming, etc. I'm cautious about needing to move funds if necessary and want to be able to do so if necessary. Right now is testing everyone's conviction....and not just in crypto.
 
I keep buying the $EGC dip. Not much to say, for the dip has been painful. Same story every day of 100 average joes keep buying and then a whale dumps $150,000 on them. Can see it in the charts. The four weeks delay of the release of Crator has not helped. But, Good news is that people are buying and things are about to be popping. Here is an update on the Crator utility, which I will be testing soon.

 
drfranklin said:
Elon Musk is one of the biggest shills on the planet...often a total liar. I'm convinced he's mentally ill and/or has a significant personality disorder. Musk also encourages retail investors into crypto shams/memes (Doge...yes, Doge is a total fraud). TSLA holds 42,902 BTC - the second largest holding of BTC (for a publicly traded company) after MSTR. I do feel that TSLA's share of EV's will diminish in the next decade after the push by legacy automakers (esp Ford, Toyota, VW) and upstarts (Rivian); however, one would be a fool to short TSLA in 2022.
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I can't disagree that he has some things going on in his head that aren't exactly normal. But he is brilliant. He is innovative, and he is a disruptive force in markets (in a good way). Just as Google did in early on, I believe he is a similar disruptive force that is unique and can't be duplicated. Yes, he will face competition in the EV world. But he IS the EV world. And as you mention, he is the second largest owner of BTC. That alone makes a case to invest. Throw in his rockets, satellites, etc etc, and I find it hard not to have a stake in his world. We don't know what he will come up with in a couple, 5, 10 years onward. I don't invest in TSLA for cars. I invest in it for innovation, financial stability, technology that not many can envision, etc. The market is full of blah companies that will get you 15% over time, and I do own some of them for diversification, but the real money is made in innovative, disruptive companies....just my opinion. And if we really step back and look at crypto....we are at the bottom of the floor as far as where this will be in 15+ years. We are so very young....like buying AMZN at $5 young.
 
KyloG said:
I trade crypto as it’s been a consistent way to make money. But, it’s completely worthless…blockchain technology has practical applications but what does that have to with the value of Bitcoin or any other crypto. The crypto bubble will pop and the wealth lost will be tremendous. I personally think btc is going below $20k and probably closer to $10k over the next 12-24 months.
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I disagree about it being worthless. I'd dig deeper than just listening to what big bank, hedge fund, central bank execs say about it. They are EXTREMELY motivated to discredit crypto because it is a huge threat to their existence. If we REALLY think about it....fiat is worthless in the sense of it being backed by anything. 98% of fiat is moved just like crypto via digital means. What's fiat backed by? We just print it as if it really did grow on trees. It's inflationary. A value in a store of wealth is only what someone is willing to give for it. Gold would be worthless if all you could get is a pack of gum for an ounce. I'm not saying crypto won't go under and people lose everything they've put into it....but at the moment, it is not worthless. People hand over fiat to obtain it, and you can sell it to get fiat or any other thing people will give you so they can have it. Just because you can't "hold" it doesn't mean it isn't worth anything.
 
Gopack42 said:
I disagree about it being worthless. I'd dig deeper than just listening to what big bank, hedge fund, central bank execs say about it. They are EXTREMELY motivated to discredit crypto because it is a huge threat to their existence. If we REALLY think about it....fiat is worthless in the sense of it being backed by anything. 98% of fiat is moved just like crypto via digital means. What's fiat backed by? We just print it as if it really did grow on trees. It's inflationary. A value in a store of wealth is only what someone is willing to give for it. Gold would be worthless if all you could get is a pack of gum for an ounce. I'm not saying crypto won't go under and people lose everything they've put into it....but at the moment, it is not worthless. People hand over fiat to obtain it, and you can sell it to get fiat or any other thing people will give you so they can have it. Just because you can't "hold" it doesn't mean it isn't worth anything.
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Worthless…useless…is there a difference. I guess, if people are going to value something that has no use than I guess it’s not worthless. The only reason crypto is popular is because of its volatility. It’s like a craps table in Vegas.

Fiat pays bills, buys goods, etc…it has a use in whatever country. And yes Fiat is govt backed.

Don’t fall for the get rich crypto scams, the Twitter pumpers…thats how Ponzi schemes work.
 
KyloG said:
Worthless…useless…is there a difference. I guess, if people are going to value something that has no use than I guess it’s not worthless. The only reason crypto is popular is because of its volatility. It’s like a craps table in Vegas.

Fiat pays bills, buys goods, etc…it has a use in whatever country. And yes Fiat is govt backed.

Don’t fall for the get rich crypto scams, the Twitter pumpers…thats how Ponzi schemes work.
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Agree with you on several points. We have not yet gotten to the point where crypto is traded for goods and services like fiat has. It is coming, but the banks, fed/central banks, governments, etc are scared crapless of it, so it's up against a lot of major powers to come on board to the equivalent of fiat acceptance. On a personal note, I don't fall for the crypto ponzi schemes...I do hold the "blue chip" cryptos and nothing more. I do not venture outside of the top 15 cryptos. And if you really want to discuss ponzi schemes, let's start with the stock market.
 
Gopack42 said:
Agree with you on several points. We have not yet gotten to the point where crypto is traded for goods and services like fiat has. It is coming, but the banks, fed/central banks, governments, etc are scared crapless of it, so it's up against a lot of major powers to come on board to the equivalent of fiat acceptance. On a personal note, I don't fall for the crypto ponzi schemes...I do hold the "blue chip" cryptos and nothing more. I do not venture outside of the top 15 cryptos. And if you really want to discuss ponzi schemes, let's start with the stock market.
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I can always tell when I discuss crypto with a millennial...the argument is always the same. Crypto is such a generational thing...the millenials eat up anything that is "fighting the power"..."unregulated"..."anti govt". Old dudes like myself just roll their eyes...

We are never ever going to have a scenario where bitcoin is used as a primary means of tender. That will never ever happen.

Now, what we may see is a digital coin/token created and regulated by our govt that's used but what's the point.
 
KyloG said:
I can always tell when I discuss crypto with a millennial...the argument is always the same. Crypto is such a generational thing...the millenials eat up anything that is "fighting the power"..."unregulated"..."anti govt". Old dudes like myself just roll their eyes...

We are never ever going to have a scenario where bitcoin is used as a primary means of tender. That will never ever happen.

Now, what we may see is a digital coin/token created and regulated by our govt that's used but what's the point.
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I'm 44
 
over9000 said:
Great conversations in this thread! I am getting out of crypto altogether before I lose anymore money.
news.bitcoin.com

US Unveils Bill Giving Treasury Secretary 'Unchecked and Unilateral Power' to Ban Crypto Transactions, Advocate Warns – Regulation Bitcoin News

The new bill would "give the Treasury Secretary unchecked and unilateral power” to ban crypto transactions, according to Coin Center.
news.bitcoin.com news.bitcoin.com
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Congressman Jim Himes submitted a amendment today
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