Bitcoin is still early

[TheQuietOne]

That’s exactly what they do with cash and bank
accounts connected to criminal activity. No surprise there.

Yeah, I just posted this because it reinforces my perception that Bitcoin has been mainly used for Dark Net/illegal activities until more recent speculative investments. I wonder if the government is going to be able to regulate cryptocurrency some day. That’s all.

[jacoavlu]

Sounds a lot like a bank. The bank holds dollars for me. Do I own them?

well, what if you went to the bank and wanted to withdraw your dollars, and they said no?

do you own them?

[jacoavlu]

it reinforces my perception

bad mode to be in

[NationalPark]

I bought (bet?) a few thousand dollars of GBTC last Friday. New world record for worst timing.

FOMO got the better of me. Will just hold of course.

[docnews]

As this bubble burst, this is when I think it's more believable to say that I think all should read about bitcoin. I own only a handful and don't know if bitcoin will go to the moon or to zero. I just see great value in a decentralized network with designed scarcity and the first mover advantage with a decade of testing is hard to discount. My actual financial plan is otherwise 100% indexing and this my only "play" money risk.

[CordMcNally]

The libertarian part of me likes the concept. I also wonder what the government is going to do to get their hand in there.

[fatlittlepig]

I bought (bet?) a few thousand dollars of GBTC last Friday. New world record for worst timing.

FOMO got the better of me. Will just hold of course.

buy more on the way down
easier said than done of course

[jacoavlu]

The libertarian part of me likes the concept. I also wonder what the government is going to do to get their hand in there.

blockchain debate podcast I enjoy because you can listen to smart people talk about both sides of these types of issues

https://podcasts.apple.com/us/podcast/the-blockchain-debate-podcast/id1493609456

6/29/20 episode: Nation-state attack on #Bitcoin is an unresolved ticking time-bomb.

[CordMcNally]

blockchain debate podcast I enjoy because you can listen to smart people talk about both sides of these types of issues

https://podcasts.apple.com/us/podcast/the-blockchain-debate-podcast/id1493609456

6/29/20 episode: Nation-state attack on #Bitcoin is an unresolved ticking time-bomb.

Thanks, I’ll take a listen.

[NapoleanDynamite]

I bought (bet?) a few thousand dollars of GBTC last Friday. New world record for worst timing.

FOMO got the better of me. Will just hold of course.

Understand...but the Bull is still early. There were many 30-40% corrections in 2017. Let us know how it is doing in 3 months and 6 months....and then 5 years. Buy and hold.

[Tim]

Another take: A Call Option on Human Nature

https://awealthofcommonsense.com/2021/01/bitcoin-is-a-call-option-on-human-nature/

[Brains428]

Lyn Alden said BTC was above the expected groove in the 4 year cycle in the halving, comparative to previous cycles, so she expected a pullback. She expects a good run until 2022.

Funny that buy the dip is 32k, when that was the ATH like a week ago.

[NapoleanDynamite]

Lyn Alden said BTC was above the expected groove in the 4 year cycle in the halving, comparative to previous cycles, so she expected a pullback. She expects a good run until 2022.

Funny that buy the dip is 32k, when that was the ATH like a week ago.

It's back up close to 35k now after dipping to 30k earlier. The "VIX" is back baby!

But seriously, as the price grows it is very likely we will see swings of 5k, 10k, and even 20-25k. These numbers seem ridiculous, but are likely to occur. If you have a magic timer then there is big money to be made on the swings. Since I am a simple mind with not enough time, I will stick with my HODL technique that has worked very nicely so far. I also loathe additional taxes right now.

My plan remains the same. As it approaches 100K I will likely take some money off the table and put it in to real estate (I would like to outright buy another property or two). Some would argue that I should borrow against the BTC to finance these properties. I don't have the risk tolerance for that, so I will just buy them outright. Other than that I will likely leave the BTC alone rebalance my AA if there is a major change in macro/market conditions. With Biden and congress advancing with major stimulus in the coming months, I have no reason to worry about the BTC price at this time.

[Lordosis]

Is HODL related to Hodor?

[Max Power]

I bought (bet?) a few thousand dollars of GBTC last Friday. New world record for worst timing.

FOMO got the better of me. Will just hold of course.

That logic only works when you have put your $ into something that was sensical and profitable to begin with.

Unless you are counting on more and more people buying spitcoin, get out. It can get much worse.

...it happens to stock traders all of the time. "Cut your losers quickly," is a well known motto. The difference is not always how well you pick winners but how quickly you can identify and cut your losers (to not only minimize loss... but mainly to put that $ into a winner instead). The crummy traders keep hoping their losers will turn around, want to just wait until the next QE... then the next, they might double down on them as they crash, etc. But again, that logic doesn't apply to crypto... the traders are dealing with real companies, real QE, real valuation reasonings. Those things don't apply to fake numbers in a computer. Let us know how it turns out for you... especially if you buy more in the crash?