Official Bitcoin Thread

[pdino]

do yall keep track of what you put in? or just forget about it and continue to dump $$ into it?

I keep track a bit, but nothing crazy. Can use free app like Delta or FTX. I just have basic idea of % in each project. Higher % = bigger belief in project. Got like 50% in ETH, 2% in Algorand for example

 

[stuntman mike]

i had a detailed running tally of what i did and and where it went until i started using DEXs. after that, it got too complicated. i know exactly how much i put in and i just track my portfolio on that cmc app. i only have 5 coins that i’m in on right now not counting the eth i use for gas.

 

[johnnyredstorm]

They dont have Zelle in Lebanon or Afghanistan?

Zelle? Fam these are countries that transact in like 99% cash and barely have credit and debit card infrastructure. If you’re a bitcoiner there you’re probably on the rich side of the population just off the rate of inflation.

 

[stuntman mike]

free ROWAN

 

[Raji Lowenthal]

Zelle? Fam these are countries that transact in like 99% cash and barely have credit and debit card infrastructure. If you’re a bitcoiner there you’re probably on the rich side of the population just off the rate of inflation.

Gotdamn I'm spoiled I'm doing a no cash August challenge for fun. In the US cash is literally obsolete already, I'm finding. That Afghan situation is crazy tho but that's for another thread.

 

[ballinsam23]

Cash will still be king for the wealthy. No way are they about to report everything.

 

[Raji Lowenthal]

I meant in terms of making transactions cash is obsolete. Even the weed man has gone digital.

 

[ballinsam23]

Agreed. I think most people 50+ see cash as some collector's item and rather store it in the bank. Still think we're about 20 years away from going all digital or atleast getting rid of coins.

 

[fapmasterjr]

Cash will be around. How else peeps paying for "illicit activity"

 

[wallyhopp]

How many crypto folks overall take their profits back into Fiat to have real world usage with it? Many apps and services allow you to double your money just like a stock rather easily.

I'm not so sure many care about the usage as much as its perceived value

I know a couple people who throw $200-$300 a week on random coins and they'll usually go up to $500, and cash out. And they'll repeat The process.

 

[sole searchin]

How many crypto folks overall take their profits back into Fiat to have real world usage with it? Many apps and services allow you to double your money just like a stock rather easily.

I'm not so sure many care about the usage as much as its perceived value

I know a couple people who throw $200-$300 a week on random coins and they'll usually go up to $500, and cash out. And they'll repeat The process.

I mean tons do probably. If you need it for certain things (down payment, rent, etc) you’d have to.

Trim profits as needed. Don’t get shortsighted though, easy to say rinse and repeat weekly but during a bull run it gets jaded rather quickly.

 

[polosanddunks]

How many crypto folks overall take their profits back into Fiat to have real world usage with it? Many apps and services allow you to double your money just like a stock rather easily.

I'm not so sure many care about the usage as much as its perceived value

I know a couple people who throw $200-$300 a week on random coins and they'll usually go up to $500, and cash out. And they'll repeat The process.

Hustling backwards instead of letting their money work for them

 

[stuntman mike]

I know a couple people who throw $200-$300 a week on random coins and they'll usually go up to $500, and cash out. And they'll repeat The process.

if they were THAT consistent, they wouldn’t be throwing small money at it.

 

[mplsdunk]

I’ve never cashed out and won’t until I hit a ticket. I don’t put anything in I would miss and any **** coins I gamble on go in eth once I double up.

 

[johnnyredstorm]

I’ve trimmed a little for renovations but sold way too early so I left a lot on the table.

 

[mplsdunk]

nothing wrong with selling for something like that imo or even a vacation.

I just look at it as a means to and end personally. Hopefully it pays off and we all can quit work.

 

[sneakysneakers]

.

 

[johnnyredstorm]

Moved my tiny sol position to marinade.finance’s liquid staking contract. 6.21% apr and I could stack this mSOL now to yield farm. Just need more options tho aside from LP’s

 

[313sole]

How many crypto folks overall take their profits back into Fiat to have real world usage with it? Many apps and services allow you to double your money just like a stock rather easily.

I'm not so sure many care about the usage as much as its perceived value

I know a couple people who throw $200-$300 a week on random coins and they'll usually go up to $500, and cash out. And they'll repeat The process.

I get the utility in that for sure but my main concern would be the taxes. I don't want to run into a tax nightmare in 2022.

 

[fapmasterjr]

I get the utility in that for sure but my main concern would be the taxes. I don't want to run into a tax nightmare in 2022.

how about instead of putting it in FIAT, why not stablecoin? no taxes. discuss.

 

[313sole]

how about instead of putting it in FIAT, why not stablecoin? no taxes. discuss.

I'm talking from the sense of paying on things that only currently take FIAT such as rent, mortgages, diapers and such. Can't do that with stablecoin, right? This is a genuine question too- I'm learning everyday when it comes to this.

 

[stuntman mike]

it’s already started and it’ll be mainstream sooner than you think. you can already use gemini pay or spedn app to pay with different crypto including DAI and GUSD. here are some of the retailers that it works at:

 

[Xennial]

speaking of stablecoins, anyone here have stablecoin strategies like which one is best to hold and where to hold it? There's so many out there

 

[sharpshooter718]

Up 6 figures since 2017 ... Still ain't cash nothing out except my dogecoin profit( made 7k off 180 dollars). Not cashing out til December...

Haven't been in this thread often cause everyone said I didn't know what I was talking about years ago.

Now here we are...

 

[sharpshooter718]

speaking of stablecoins, anyone here have stablecoin strategies like which one is best to hold and where to hold it? There's so many out there

My strategy will probably USDC ... 8 percent on Celsius is a no brainer