Crypto trading

[SargeMaximus]

Truth is nobody knows wtf it is going to do because it's entire value model is derived from FOMO , until first world financial systems / governments agree bitcoin is a tangible asset you may as well be trading bottle caps


WEB3 is interesting , metaverse is interesting , NFT's are interesting, heck even decentralised ledgers are interesting

Bitcoin isn't , it was just first kid on the block and got a head start still so many people involved with it that don't have a fvcking clue what a blockchain is

When you understand the economics and real world applications of tokenisation you understand it's already too late for bitcoin to really be used for much other than " a store of value " which i am not really convinced about

I can sort of see ETH 2.0 working as a native layer within web 3 so it would make more sense to put your money there

The biggest question is will a gov or CB's be prepared to adopt ETH 2.0 in their own web3 applications or will they want their own token

I think i already know the answer unfortunately but time will tell

I get all my NFTs for free

 

[jaygreenb]

Truth is nobody knows wtf it is going to do because it's entire value model is derived from FOMO , until first world financial systems / governments agree bitcoin is a tangible asset you may as well be trading bottle caps


WEB3 is interesting , metaverse is interesting , NFT's are interesting, heck even decentralised ledgers are interesting

Bitcoin isn't , it was just first kid on the block and got a head start still so many people involved with it that don't have a fvcking clue what a blockchain is

When you understand the economics and real world applications of tokenisation you understand it's already too late for bitcoin to really be used for much other than " a store of value " which i am not really convinced about

I can sort of see ETH 2.0 working as a native layer within web 3 so it would make more sense to put your money there

The biggest question is will a gov or CB's be prepared to adopt ETH 2.0 in their own web3 applications or will they want their own token

I think i already know the answer unfortunately but time will tell

This actually is a really bad take and shows you don't understand the topic or applications. I don't have the time to break it down today but like you say, time will tell.

 

[Bingo-Player]

This actually is a really bad take and shows you don't understand the topic or applications. I don't have the time to break it down today but like you say, time will tell.

What don't i understand ?

Why is bitcoin more valuable than all the other tokens ? when in a lot of cases it doesn't have half as much utility and is still operating on an economically inefficient POW concept

Because it was the first and people love hype

 

[jaygreenb]

What don't i understand ?

Why is bitcoin more valuable than all the other tokens ? when in a lot of cases it doesn't have half as much utility and is still operating on an economically inefficient POW concept

Because it was the first and people love hype

Incorrect, the POW model is what allows the network to remain secure and competitive, it also incentivizes it to adapt to different stressors ex. China mining ban. With this model the BTC network has almost become a living organism that constantly changes and improves as the environment around it changes. All money throughout history that had any type of sustainability had some POW model. Where man hours or energy were needed to produce it. Think gold and silver and mining. Without that, the money could be infinitely created and did not have or hold any value over time. The more miners that participate and the more efficient the equipment becomes only increases the security, integrity and value of the network.

I think a major point you are missing is it's simplicity is a feature not a bug. It's sole purpose is to be pure monetary energy that is secure liquid, decentralized and everyone knows/trusts the rules and they can't be changed. Bitcoin by far is superior in these qualities to any other crypto. Any transaction cost/speed issues will be handled on Layer2/3 solutions then settles in bulk on the base layer. Its addressable potential market is all assets that carry a store of value premium. This includes gold, stocks, bonds, real estate and others. That doesn't mean it takes all the value from these assets classes but can take the portion of the premium they hold since people have had no where else to park their money in a fiat/inflationary system. The values of these assets will come down closer to their actual utility over time. If you price these assets in btc instead of dollars, you can actually see it happening in real time.

Look, I know this concept can be hard to wrap your head around, there really is not any other way to do it other than to put in hundreds if not thousands of hours into really understanding it and it's incentive structure. Paradigm shifts are often hard to conceptualize and see and can sound completely insane at first. If you really want to understand it, I suggest you start with reading "The bitcoin standard". Here are a few videos on why the POW model is important. Until you put in the work yourself though, these conversations are pointless.

 

[Bingo-Player]

Incorrect, the POW model is what allows the network to remain secure and competitive, it also incentivizes it to adapt to different stressors ex. China mining ban. With this model the BTC network has almost become a living organism that constantly changes and improves as the environment around it changes. All money throughout history that had any type of sustainability had some POW model. Where man hours or energy were needed to produce it. Think gold and silver and mining. Without that, the money could be infinitely created and did not have or hold any value over time. The more miners that participate and the more efficient the equipment becomes only increases the security, integrity and value of the network.

I think a major point you are missing is it's simplicity is a feature not a bug. It's sole purpose is to be pure monetary energy that is secure liquid, decentralized and everyone knows/trusts the rules and they can't be changed. Bitcoin by far is superior in these qualities to any other crypto. Any transaction cost/speed issues will be handled on Layer2/3 solutions then settles in bulk on the base layer. Its addressable potential market is all assets that carry a store of value premium. This includes gold, stocks, bonds, real estate and others. That doesn't mean it takes all the value from these assets classes but can take the portion of the premium they hold since people have had no where else to park their money in a fiat/inflationary system. The values of these assets will come down closer to their actual utility over time. If you price these assets in btc instead of dollars, you can actually see it happening in real time.

Look, I know this concept can be hard to wrap your head around, there really is not any other way to do it other than to put in hundreds if not thousands of hours into really understanding it and it's incentive structure. Paradigm shifts are often hard to conceptualize and see and can sound completely insane at first. If you really want to understand it, I suggest you start with reading "The bitcoin standard". Here are a few videos on why the POW model is important. Until you put in the work yourself though, these conversations are pointless.

POW is already outdated and economically inefficient i suggest you update your knowledge as most tokens are already moving to POS including ETH 2.0

 

[jaygreenb]

POW is already outdated and economically inefficient i suggest you update your knowledge as most tokens are already moving to POS including ETH 2.0

Your lazy and uneducated response will most likely lead to corresponding results. Good luck.

 

[SargeMaximus]

Guys, I totally admit I was wrong about bitcoin. I didn’t think we’d make it to 100K by end of 2021 but we did so I admit I was wrong

 

[BackInTheGame78]

Guys, I totally admit I was wrong about bitcoin. I didn’t think we’d make it to 100K by end of 2021 but we did so I admit I was wrong

Extended cycle or potential super cycle setting up, which is a good thing...

I'm trading both sides of the market so I am cool with whatever it does

 

[jaygreenb]

Extended cycle or potential super cycle setting up, which is a good thing...

I'm trading both sides of the market so I am cool with whatever it does

Agree, nothing has changed for me long term. Potentially could get ugly at some point if the entire economy/markets pukes or they actually do rate hikes. In March 2020 when there was a that giant wick down a lot of people got wiped out using leverage. Some of the better traders too, just use some caution and don't get over exposed. If that does happen, I will be plowing every last available resource I have into this market.

 

[BackInTheGame78]

Agree, nothing has changed for me long term. Potentially could get ugly at some point if the entire economy/markets pukes or they actually do rate hikes. In March 2020 when there was a that giant wick down a lot of people got wiped out using leverage. Some of the better traders too, just use some caution and don't get over exposed. If that does happen, I will be plowing every last available resource I have into this market.

I use very tight stops, so my losses are never more than roughly $100, and I tend to move my stops quickly into profit when the trade starts going well.

I also never chase trades...either it hits my limit buys or it doesn't, but I won't change them...that's where people get into trouble. Trying to chase candles instead of waiting for them to come back to you.

 

[SargeMaximus]

Agree, nothing has changed for me long term. Potentially could get ugly at some point if the entire economy/markets pukes or they actually do rate hikes. In March 2020 when there was a that giant wick down a lot of people got wiped out using leverage. Some of the better traders too, just use some caution and don't get over exposed. If that does happen, I will be plowing every last available resource I have into this market.

Hilarious how bitcoin maxis were claiming bitcoin would be a safe haven against this

 

[DEEZEDBRAH]

Yes, I've made enough to retire these past few yrs. Thanks for asking

Why don't you?

At the very least, start a small biz or side hustle to 1. Make money 2. Busy yourself???

 

[DEEZEDBRAH]

I use very tight stops, so my losses are never more than roughly $100, and I tend to move my stops quickly into profit when the trade starts going well.

I also never chase trades...either it hits my limit buys or it doesn't, but I won't change them...that's where people get into trouble. Trying to chase candles instead of waiting for them to come back to you.

That's solid. I can't say the same. I don't trade. Technical I don't see gains or losses until I sell.

Having a strategy. Stick to the script.well played. Did you have a year end exit strategy?

 

[BackInTheGame78]

That's solid. I can't say the same. I don't trade. Technical I don't see gains or losses until I sell.

Having a strategy. Stick to the script.well played. Did you have a year end exit strategy?

Nothing wrong with buying into something early and holding either...I do some of that as well. Usually tho I try and accumulate by selling and then rebuying lower with the same money with those so my break even points get lower plus if it goes up I see a lot more profit.

Did not have an exit strategy this year because the market cycle looks like it is extending. I freed up some capital and bought the dips when they made sense then sold and rebought over the last couple weeks...looks like it might be ranging for a while now.

 

[jaygreenb]

Hilarious how bitcoin maxis were claiming bitcoin would be a safe haven against this

I don't think anyone claims bitcoin wouldn't take a hit in a major liquidity event, everything does. I and many others just think it would be one of the first assets to recover, similar to March 2020. Markets are all somewhat interconnected and at this point are all are entirely dependent on what the FED does. Would love to hear some arguments with any actual depth instead of the surface level amateur hour statements.

 

[jaygreenb]

Why don't you?

At the very least, start a small biz or side hustle to 1. Make money 2. Busy yourself???

I have owned a small business for 12yrs, it's service based and location dependent though in a very blue state. I am currently planning my exit/sale but want to get a few things in place and hit few more financial milestones first. I could do it now but tend to over prepare financially. I also really care for my employees and want to make sure they are situated before I go. I have been buying them all crypto for the past 4.5yrs, at times they thought I was nuts but they all very much appreciate it now. Funny thing is my first employee and office manager who retired earlier this year, she saw my enthusiasm for it and started DCA'ing btc and eth when I did, albeit less, but this sweet little old lady has some serious bags now. She bought the entire bear market of 18/19 like a champ.

 

[jaygreenb]

I use very tight stops, so my losses are never more than roughly $100, and I tend to move my stops quickly into profit when the trade starts going well.

I also never chase trades...either it hits my limit buys or it doesn't, but I won't change them...that's where people get into trouble. Trying to chase candles instead of waiting for them to come back to you.

Good, sounds like you got some good risk controls in place.

 

[AAAgent]

I have owned a small business for 12yrs, it's service based and location dependent though in a very blue state. I am currently planning my exit/sale but want to get a few things in place and hit few more financial milestones first. I could do it now but tend to over prepare financially. I also really care for my employees and want to make sure they are situated before I go. I have been buying them all crypto for the past 4.5yrs, at times they thought I was nuts but they all very much appreciate it now. Funny thing is my first employee and office manager who retired earlier this year, she saw my enthusiasm for it and started DCA'ing btc and eth when I did, albeit less, but this sweet little old lady has some serious bags now. She bought the entire bear market of 18/19 like a champ.

Doing the lords work.


I started my own youtube channel for educating my friends and family. Even held training seminars for group education and individual tutoring. I probably helped onboard atleast a few hundred people directly.

I think its people like us that really helped to drive adoption. I did this because I really thought it would help peoples lives and also remove power from the corrupt elite. That was my main goal since 2016, to drive blockchain education, and free as many people through self empowerment via blockchain. Now that adoption is well on its way, i'm not really sure what to do. Too young to retire. My friends and I sold our blockchain company to Justin Sun. Life is good and most of the boxes are ticked off barring a few.

I would caution people against futures/leverage trading though. Lost a good chunk of change the past few years by doing this. HODLing has always worked out best for me.

 

[DEEZEDBRAH]

Nothing wrong with buying into something early and holding either...I do some of that as well. Usually tho I try and accumulate by selling and then rebuying lower with the same money with those so my break even points get lower plus if it goes up I see a lot more profit.

Did not have an exit strategy this year because the market cycle looks like it is extending. I freed up some capital and bought the dips when they made sense then sold and rebought over the last couple weeks...looks like it might be ranging for a while now.

Jan 1 2021, I had btc breaking 100k by yr end. After alon and shenanigans, I lost any afterthought of a possibility. I'm seeing it break 100k but no clue when. My regret was not acquiring more eth in the 1st quarter. I see a 3x coming for Sol.

There's mastermind groups I want to get into. Several of those I follow pay 10k subs. I can't figure out how to evaluate meta plays. The tokenomics is awful for even the biggest of players. Found mana and enj early but missed Sandbox and others. Again, I am only in a handful or two MAX. A few seemed to have it nailed.

I let it ride last year end without Taking significant profits. Still got dry powder on the side ready to go. One of my mates buys super small caps. Is making a small fortune. Into NFTs too. For the absolute life of me, I don't get it, and it screams RUG PULL to me. A lot of moron influencers back one and then things go tits up and they delete the tweet like a politician pretending nothing happened. My mate is crushing it. I still don't see the value. As in, somebody has to not bid whatever ridiculous amount you spent or you take a L for farting dog on a skateboard NTF.

 

[DEEZEDBRAH]

I have owned a small business for 12yrs, it's service based and location dependent though in a very blue state. I am currently planning my exit/sale but want to get a few things in place and hit few more financial milestones first. I could do it now but tend to over prepare financially. I also really care for my employees and want to make sure they are situated before I go. I have been buying them all crypto for the past 4.5yrs, at times they thought I was nuts but they all very much appreciate it now. Funny thing is my first employee and office manager who retired earlier this year, she saw my enthusiasm for it and started DCA'ing btc and eth when I did, albeit less, but this sweet little old lady has some serious bags now. She bought the entire bear market of 18/19 like a champ.

That's awesome man. Do you have a exit strategy following retirement? Plans? I don't blame you wanting to be prepared especially after the nonsense the past few years. I feel bad for those who were already retired or the fool that pulled out of the market in wave 1 lock down. Didn't end well. By summer things had recovered but anybody that panic sold got wrecked. Good luck to you. You are forward thinking enough to got in early. Far too many noobs say that it's early. You actually did. Well played.