Official Bitcoin Thread

[fapmasterjr]

posted this a few times before, but great calculator/tool for the newbs getting in and seeing how much $$$ can be made by DCA'ing in....

Dollar Cost Averaging Bitcoin - dcaBTC

Dollar cost averaging Bitcoin is a popular strategy. This bitcoin investment calculator shows the return of a BTC DCA strategy.

dcabtc.com

Here is an example of just putting $25 every 2wks (mimics a paycheck) and doing it just for the past 1yr:

Dollar Cost Averaging Bitcoin - dcaBTC

Dollar cost averaging Bitcoin is a popular strategy. This bitcoin investment calculator shows the return of a BTC DCA strategy.

dcabtc.com

 

[fapmasterjr]

Never said that was what I wanted.
i meant they would hire someone

my bad, I should've put: "why would ONE want...."

 

[Raji Lowenthal]

They say cash is trash because of how rapidly it loses buying power due to inflation, infinite money printing, no supply limit, etc. Holding cash is a guaranteed loss over time. Digital dollar would have all the same issues, thus all it would be is a digital form of trash. The US govt, or any govt really, cannot put a hard supply limit or hard code a predetermined inflation rate like bitcoin has because they would not be able to sustain their economies.

Institutions are buying bitcoin specifically to hedge against this increasing devaluation of the dollar. They would not sell it to buy a digital version of the thing they are running away from.

I was looking at it as a currency position not an investment position.

 

[fapmasterjr]

They say cash is trash...

I heard a new term calling cash.....

CUUCK BUCKS. I lol'd

 

[Raji Lowenthal]

That's not new though. Cash has always been trash as an investment itself, only used as a vehicle to invest in other **** whether stocks real estate or BTC. Unless you bring forex into the conversation.

 

[tkthafm]

I’m not even selling any at $200k, maybe a small percentage at $300k. I don’t see how we don’t blow past the S2F model average of $288k. People think these numbers sound crazy because they’ve been conditioned to compare it to a currency that is constantly inflating its supply. You cannot manipulate BTC supply. More dollars for the same amount of BTC = number go up

Exactly.

30k right now sounds high but in the long term it is nothing. We are still so early. The total market cap of bitcoin is still tiny, it's still smaller than some individual companies.

Bitcoin is a truly scarce asset. Millions of coins have already been lost forever. The available supply is drying up much faster than miners can produce, and most people are who are buying it are buying it for the long term. The amount still held on exchanges has been consistently plummeting as people withdraw to hardware wallets to HODL. This is all happening as demand keeps increasing, especially among bigger and bigger players who want to buy thousands of coins at a time.

I tried to explain to many people for years now that they should ignore the ups/downs in price and just consistently accumulate for the long term. Let it go up 300% in a year, let it drop 80% in a year, it doesn't matter. Just keep buying and holding. Many are finally starting to get it. Make your goals to own certain amounts of BTC over time. 1/100th, 1/10th, 1/2, 1, 10, 100, 1000 whatever it is.

 

[rmmsballer10]

DCA is the only way to participate in this asset class, currently.

The market is almost impossible to time. When Bitcoin runs up quickly it is impossible to trade correctly.

As the price goes up over time, the volatility will go down. Probably around 1-2 million per coin.

There will be a time when things are valued in BTC, not dollars. Maybe not in our lifetimes, who knows.

Governments aren't going to stop printing fiat, no politician wants the economy to fail on their watch and it is easier to erase past debt this way and prop up the stock market.

This could be a major transfer of wealth during our lifetimes.

I really like ETH at these price levels, once ALT season arrives the price is going to explode. Currently it is down almost 50% from ATH and was up almost 6x in 2020.

 

[fapmasterjr]

see you all in the Citadel.

 

[JL415]

Exactly.

30k right now sounds high but in the long term it is nothing. We are still so early. The total market cap of bitcoin is still tiny, it's still smaller than some individual companies.

Bitcoin is a truly scarce asset. Millions of coins have already been lost forever. The available supply is drying up much faster than miners can produce, and most people are who are buying it are buying it for the long term. The amount still held on exchanges has been consistently plummeting as people withdraw to hardware wallets to HODL. This is all happening as demand keeps increasing, especially among bigger and bigger players who want to buy thousands of coins at a time.

I tried to explain to many people for years now that they should ignore the ups/downs in price and just consistently accumulate for the long term. Let it go up 300% in a year, let it drop 80% in a year, it doesn't matter. Just keep buying and holding. Many are finally starting to get it. Make your goals to own certain amounts of BTC over time. 1/100th, 1/10th, 1/2, 1, 10, 100, 1000 whatever it is.

My man gets it, IYKYK!

I feel like most beginners in this space have to go through some volatile swings, question themselves, then either exit or have enough discipline to hodl through noise. My advice to be part of the latter group is to continue researching, look very deeply at our govt’s monetary and fiscal policies and you’ll wonder why you ever held anything but BTC in the first place.

 

[mplsdunk]

Fam you don’t need big money to bank off bitcoin. If you started buying $22 worth every week and started at the ath breakout, you’d have invested 176 and it’s worth 278 now. We’re still early the only thing you need to do is DCA. I think buying eth is smart and link honestly intrigues me but don’t neglect the OG because of price.

aight I just copped some btc.

What’s DCA?

 

[smedroc]

welp

Privacy coins getting clipped.

 

[ArmandoJF33]

Well, I did it and purchased my first crypto (bitcoin) today. I am using coinbase. I am nervous and excited at the same time. I am getting older and I need to start making investment decisions and have my money work for me.

 

[mplsdunk]

I just started too. Do the rewards on Coinbase. You’ll get a quick 30-40 bucks bruh.

 

[smedroc]

What’s DCA?

posted this a few times before, but great calculator/tool for the newbs getting in and seeing how much $$$ can be made by DCA'ing in....

Dollar Cost Averaging Bitcoin - dcaBTC

Dollar cost averaging Bitcoin is a popular strategy. This bitcoin investment calculator shows the return of a BTC DCA strategy.

dcabtc.com

Here is an example of just putting $25 every 2wks (mimics a paycheck) and doing it just for the past 1yr:

Dollar Cost Averaging Bitcoin - dcaBTC

Dollar cost averaging Bitcoin is a popular strategy. This bitcoin investment calculator shows the return of a BTC DCA strategy.

dcabtc.com

 

[mplsdunk]

Thanks man, there’s a ton to learn.

 

[itshlittt]

more regulations!

 

[johnnyredstorm]

Dollar cost average. Just buy whatever set amount you can afford to lose regularly.

 

[miniojw]

What do you guys think of Cardano (ADA)?

 

[fapmasterjr]

$RUNE - they have a liquidity pool now (not yet released but you can use) called bepswap; it will be the first crosschain liquidity/swap decentralized exchange. check it out here:

BEPSwap

Instantly swap and stake BNB and BEP2 assets on Binance Chain.

bepswap.com

You'll be able to swap or be a liquidity provider ETH:RUNE, BTC:RUNE, LTC:RUNE and so on....NATIVE COINS and not WRAPPED. Nobody is doing this.

If you peep and go back to my earlier post on this...I believe I told you guys that I got in at .07cents....it is currently at:

THORChain Price: RUNE Live Price Chart, Market Cap & News Today | CoinGecko

Track the latest THORChain price, market cap, trading volume, news and more with CoinGecko's live RUNE price chart and popular cryptocurrency price tracker.

www.coingecko.com

$RUNE just hit ATH, again. $1.35

 

[3am scholar]

welp

Privacy coins getting clipped.

Gonna be real awkward for Bittrex when Litecoin’s MimbleWimble get implemented.

 

[ballinsam23]

Need some help fam.

I thought I took all of my profits from alt coins back in the 2017-2018 bubble. Decided not to mess with cc anymore. Anyway, I got curious and logged back into Binance (apparently not even supported in the US anymore) today and see I have ~ $400 of some AAVE coin (I guess it was LEND before which I did buy).

Now I have no idea how to withdraw this coin to my coinbase. I tried trading it for ETH or BTC on Binance and keep getting an error message. Any idea how I can get this out of my Binance?

 

[ps2child]

DOGE trending

Thinking of jumping on it FOMO

 

[johnnyredstorm]

Need some help fam.

I thought I took all of my profits from alt coins back in the 2017-2018 bubble. Decided not to mess with cc anymore. Anyway, I got curious and logged back into Binance (apparently not even supported in the US anymore) today and see I have ~ $400 of some AAVE coin (I guess it was LEND before which I did buy).

Now I have no idea how to withdraw this coin to my coinbase. I tried trading it for ETH or BTC on Binance and keep getting an error message. Any idea how I can get this out of my Binance?

If you have a ledger withdraw to it. Or set up a metamask wallet.

 

[amadeusz]

Any thoughts on YFDai here?

 

[ballinsam23]

If you have a ledger withdraw to it. Or set up a metamask wallet.

Thanks. I just set up a metamask wallet. Do I send the AAVE from Binace to the AAVE address on metamask? Then how would I convert that to ETH or BTC on metamask?