Bitcoin is still early

[xraygoggles]

By the way, if anyone is serious about security of your btc, I would check out 3rd party custodial services. I currently use keys.casa, which has a nice easy to use app and interface for multi-sig authentication of your sats. After a certain number, it makes sense to have additional security on top of your hard wallet.

[jacoavlu]

By the way, if anyone is serious about security of your btc, I would check out 3rd party custodial services. I currently use keys.casa, which has a nice easy to use app and interface for multi-sig authentication of your sats. After a certain number, it makes sense to have additional security on top of your hard wallet.

reasonable

unchained also has a shared custodial 2 of 3 multisig offering. it's free, not as slick as casa, but casa ain't cheap for 3 of 5. not a big fan of their 2 of 3. and such services are privacy leaks if you care about that

also, "trusted third parties are security holes"

make sure you have a plan and ideally test your ability to recover your coins without their assistance

[xraygoggles]

This month? BTC at 170k. Next month? 180k. I just use the rainbow chart, if we're in max bubble territory i plan to sell and wait for the dip. I started buying in mid 2018 so never had to sell yet and idk if we'll ever have a swing like that again, especially with institutional investors taking large positions in BTC now, likely stabilizing the price. If it's in any other phases of the rainbow chart I DCA in every week. If it's in any phase below the HODL! phase i DCA every week and add extra money on top of that with each paycheck, basically any extra money I have left over I throw at it.

If we never hit max bubble territory again, i'll likely never actually sell for fiat. I truly believe that when BTC is ready to be sold, I won't have to

Mayer Multiple Bands are another way to stack sats. Yours also works though.

[Panscan]

Maybe I'm missing the message. Some people advocate to have a percentage somewhere between 1 and 10% of their portfolio in bitcoin. It is not really for me but it probably would not sink anybody either.

However everybody is talking about holding on and buying more and with the major gains over the past year I imagine it is way more than a small percentage of some people's portfolio. Are people actually rebalancing?

5% of your portfolio is different than 25 to 50%


Because when it takes a 50% dive and you bail out that actually hurts quite a bit.

When it takes a 50% dive and you pile in expecting it to rebound to all time highs and it does not that will hurt even worse!

theres a lot of hype right now regarding a cycle which many theorize is happening and should peak in the next 1-4 months roughly.

I think 1-10% is a good long term number but personally have more exposure than that right now

[jacoavlu]

for the record I wouldn't advocate for any sort of market timing approach or selling based on TA.

programmatic periodic investment, buy and hold. if you want to buy more on dips, great.

i would sure be nervous though selling into a bull market banking on timing a market retraction where i could buy back in lower.

[jacoavlu]

Maybe I'm missing the message. Some people advocate to have a percentage somewhere between 1 and 10% of their portfolio in bitcoin. It is not really for me but it probably would not sink anybody either.

However everybody is talking about holding on and buying more and with the major gains over the past year I imagine it is way more than a small percentage of some people's portfolio. Are people actually rebalancing?

5% of your portfolio is different than 25 to 50%


Because when it takes a 50% dive and you bail out that actually hurts quite a bit.

When it takes a 50% dive and you pile in expecting it to rebound to all time highs and it does not that will hurt even worse!

my friend you keep coming back and saying "its not really for me"

personally no not rebalancing. there's nothing good to rebalance into. unless anyone has some land with stranded natgas they want to sell...

not sure why anyone would sell into a 50% dive. wouldn't do that with equities.

[Lordosis]

my friend you keep coming back and saying "its not really for me"

personally no not rebalancing. there's nothing good to rebalance into. unless anyone has some land with stranded natgas they want to sell...

not sure why anyone would sell into a 50% dive. wouldn't do that with equities.

Somebody has to be around to eventually say I told you so! :P
But seriously. Diversification. How is it any different than holding a quarter of your profile in a single stock? I understand that Bitcoin is not a stock but the risk is just as great if not even greater.

[jacoavlu]

Somebody has to be around to eventually say I told you so! :P
But seriously. Diversification. How is it any different than holding a quarter of your profile in a single stock? I understand that Bitcoin is not a stock but the risk is just as great if not even greater.

my friend i think you’re closer to losing our bet than i am. would you like to raise the stakes?

i see it as very different than holding a single stock.

[CordMcNally]

my friend i think you’re closer to losing our bet than i am. would you like to raise the stakes?

i see it as very different than holding a single stock.

Was the bet about if BTC gets to $100k or below $10k first? What was the wager?

[jacoavlu]

Was the bet about if BTC gets to $100k or below $10k first? What was the wager?

yes

conversation starts here if anyone is interested

https://forum.whitecoatinvestor.com/general-investing/236645-bitcoin-is-still-early?p=247025#post247025

it seems we agreed to a one year term so basically end of 2021. it seems most likely we both lose, which is kinda what i figured would happen

so hey Lordosis are we both gonna be losers 12/31/21 or do we extend the expiration ?

[jacoavlu]

i also learned it’s pretty entertaining to go back and read this thread from the start. there’s some real gems hidden back there

man i miss Crixus

[abds]

i also learned it’s pretty entertaining to go back and read this thread from the start. there’s some real gems hidden back there

man i miss Crixus

I really do miss crixus.

[Lordosis]

yes

conversation starts here if anyone is interested

https://forum.whitecoatinvestor.com/general-investing/236645-bitcoin-is-still-early?p=247025#post247025

it seems we agreed to a one year term so basically end of 2021. it seems most likely we both lose, which is kinda what i figured would happen

so hey Lordosis are we both gonna be losers 12/31/21 or do we extend the expiration ?

I am fine that neither of us were right. Nobody knows nothing.

What makes it less risky than betting on a single stock?

You would look pretty smart if you loaded up on Tesla 2 years ago as well.

[jacoavlu]

I am fine that neither of us were right. Nobody knows nothing.

What makes it less risky than betting on a single stock?

You would look pretty smart if you loaded up on Tesla 2 years ago as well.

well i didn’t say it was less risky. i said i see it as different. different type of asset. probably will not be highly correlated with my equity index funds over the long term. feel like i’ve studied enough to reasonably understand it and form my opinion on chance if it not failing. don’t think i could do the same with some early stage tech company with asymmetric upside. and not interested in that anyway

plus i have a libertarian bent. and bitcoin twitter is fun

[xraygoggles]

and bitcoin twitter is fun

i am team udiverse btw