Is anyone else starting to become a bit excited?

deathbomber · 16-12-2020 11:59PM

it feels good, real good, has been a rough couple of years :cool:

deathbomber · 17-12-2020 12:00AM

Dohnjoe wrote: »

Very strange bull run, reminds me much more of the early 2017 run rather than the insane late year one.

The alts outside the top 25/50 haven't done much, just tagging along, will be interesting to see if they start to take off at some stage.

alts didn't start to really take off until mid January of 17, if memory serves me right, getting old though:pac:

makeorbrake · 17-12-2020 12:01AM

deathbomber wrote: »

it feels good, real good, has been a rough couple of years :cool:

BTC teaches us all to have low time preference. :cool:

deathbomber · 17-12-2020 12:13AM

makeorbrake wrote: »

BTC teaches us all to have low time preference. :cool:

i decided to completely take my mind off it over the last 1.5 years (for the most part), i knew it would come back, never bought more, even at 2k ish last year, glad i rode it out, interesting rally today, still, there will be a correction and hopefully a huge alt rally. However, i have doubts over the "huge" part for the time being, i fully expect it to happen at some stage, some top projects are going the same path as bitcoin (never worth the same value), it may take 3 or 4 years though. Eth looks bang on course for circa 5k within the next few years if not sooner. Interesting times :cool:

mr_serious1 · 17-12-2020 01:22AM

Sorry to go off topic but I bought in 2017/beginning 2018 and I'm pretty sure I didn't touch coinbase since then, but my recent transactions shows my 200 euro of litecoin was transferred on June 2019. The icon that's beside it is like a black background with 3 vertical blue bars, longer one in the middle and two equal shorter ones to the left and right.

Any ideas? Could this simply be stolen? Any way of knowing for sure?

makeorbrake · 17-12-2020 05:46AM

grindle wrote: »

One thing that comes up too rarely on the Bitcoin subs (but it does come up occasionally) - if BTC is challenging traditional money or markets in any reasonable way in the future, something very bad has happened and hyperinflation is on the cards if not already happening. Even if you're BTC rich in that instance, either something gravely bad has happened or Q.E. has become so much of a norm beyond what it already has that people are pushing spare money into a speculative asset as a safety feature for value - which we're all doing unless we're just degenerate gamblers *cough*.
Great for people who've been buying earlier, worrying for the world at large.

Hard money (i.e. bitcoin) gives wayward central banks and governments an incentive to do better. The only thing bitcoin/crypto is lacking is killer UX to really drive that home. Then it would be used by regular folk in places like Turkey, Iran, Venezuela, Zimbabwe, Argentina, etc. (rather than the more technically savvy).
Beyond that, I'm a firm believer that inflation is a tax on the less well off (anyone who doesn't have assets) and in the longer run, I want to opt out entirely. Things aren't settled enough for that just yet - I'll have to wait. I never got into this for the speculative gain but if I have to make some $ on it as it matures, fair enough!
As regards things being bad, the current monetary system doesn't work. It's all that we know but if we zoom out, it's only been around for a short period of time relatively. It's not bitcoin/crypto that's the grand experiment - it's sovereign (unbacked) money! Eventually, the music will have to stop and we'll need to switch to another system (via a Bretton Woods 2).

Bob24 · 17-12-2020 06:41AM

makeorbrake wrote: »

Beyond that, I'm a firm believer that inflation is a tax on the less well off (anyone who doesn't have assets)

I get what you mean, but I’d rather say it is a tax on savers which are not financially savvy (which is a majority of them).

While the less well off tend to do it less, you don’t actually need to be that wealthy to start putting some of your savings into gold, or Bitcoin, or even shares. And I also know relatively well-off people who are keeping a large part of their wealth in savings accounts (their home being their only really hard asset).

The main “problem” is that a large part of the population doesn’t fully understand inflation and allow themselves to be “taxed” by negative real rates (and of course no government has any incentive to explain it at school).

But I actually think it is slowly changing. While negative real rates have been a thing for a while and remained mostly unnoticed by the average person, the psychological impact of zero and negative *headline* rates is causing more people to question what’s happening with their money.

makeorbrake · 17-12-2020 06:51AM

Bob24 wrote: »

I get what you mean, but I’d rather say it is a tax on savers which are not financially savvy (which is a majority of them).

Your definition or mine - quite happy to use either.

Bob24 wrote: »

While the less well off tend to do it less, you don’t actually need to be that wealthy to start putting some of your savings into gold, or Bitcoin, or even shares.

Bitcoin - yes, it's now an option - but not ideal for the purpose just yet until it settles.
Gold - it's a lot less easy to get in and out of for the average joe.
Shares - I guess so - but the vast majority of folks don't bother with this.

Bob24 wrote: »

The main “problem” is that a large part of the population doesn’t fully understand inflation and allows themselves to be “taxed” by negative real rates (and of course no government has any incentive to explain it at school).

Agree 100%. This is what governments exploit - and it's why its inequitable.

Bob24 wrote: »

But I actually think it is slowly changing. While negative real rates have been a thing for a while and remained mostly unnoticed by the average person, the psychological impact of zero and negative *headlines* rates is causing more people to question what’s happening with their money.

This year has framed it perfectly.

(ps. you're all waking up to BTC in the 22,000s - need to go get some kip. Keep her topped up - I don't want it a cent under 22k when I get up!

)

deathbomber · 17-12-2020 07:18AM

makeorbrake wrote: »

Your definition or mine - quite happy to use either.

Bitcoin - yes, it's now an option - but not ideal for the purpose just yet until it settles.
Gold - it's a lot less easy to get in and out of for the average joe.
Shares - I guess so - but the vast majority of folks don't bother with this.

Agree 100%. This is what governments exploit - and it's why its inequitable.

This year has framed it perfectly.

(ps. you're all waking up to BTC in the 22,000s - need to go get some kip. Keep her topped up - I don't want it a cent under 22k when I get up! )

Indeed, all i can say is, take some profits during the bull run, ideally you should take profits to break even and then let the rest ride until you seem fit.

The main threat to btc are governments/regulations, don't think they will just sit and watch, sooner or later the heat will come in a big way and may tank the price, as indeed we seen before.....anyway, be wise and enjoy

Bob24 · 17-12-2020 10:33AM

Now passed 23k ... I can’t keep track anymore!

q85dw7osi4lebg · 17-12-2020 10:34AM

Drafting my notice

UsBus · 17-12-2020 10:46AM

Anyone thinking about stop losses...? I always end up pricing it too close and a tiny correction picks me off and then shoots back up again. I want to let it run but don't want to miss a chance for profit..

As others have said it's rocketing now with so many piling in. It would make you wonder how badly traditional fiat is getting with this run..

q85dw7osi4lebg · 17-12-2020 10:49AM

Be careful it just crashed $1400 to........

......... $22400

q85dw7osi4lebg · 17-12-2020 10:52AM

UsBus wrote: »

Anyone thinking about stop losses...? I always end up pricing it too close and a tiny correction picks me off and then shoots back up again. I want to let it run but don't want to miss a chance for profit..

As others have said it's rocketing now with some many piling in. It would make you wonder how badly traditional fiat is getting with this run..

I couldn't be arsed with trading but maybe you want to look at trailing stop losses.

UsBus · 17-12-2020 10:59AM

Addison Fancy Macrame wrote: »

I couldn't be arsed with trading but maybe you want to look at trailing stop losses.

Ya think i've learned my lesson with trying to trade it.. Impossible to know where it's headed. Great to be in this position now though. Didn't think i'd be here after the end of 2017.... Roll on 30k....!!!!

Dohnjoe · 17-12-2020 11:48AM

Starting to see a lot of news stories on this, that was a big driver in 2017

donnaille · 17-12-2020 11:53AM

Lex Luthor wrote: »

if you have a youtube channel which is constantly getting strikes for mentioning certain words/phrases/topics and you have a big following, then I can see why this could benefit those, I'm not one so its not somewhere I'll be checking regularly but I have watched a stream or 2 on there so it wasnt an issue

Quoting only the part that I believe isn't the scope of this project - Theta is about video relay. Content will still continue to be accessed through some of today's major platforms (YouTube, Netflix, Twitch etc.) and will still be subject to the same controls, but its delivery (to some users) will be provided by Theta's CDN. In this way it's an infrastructure layer, so in competition with CDN's like Amazon, Akami etc. It's been a while, as I mentioned, since I've looked into it, but this was Theta's claimed differentiator, and is the only thing that potentially makes it a worthwhile investment vs. being a video sharing platform, of which there are too many to begin to name.

Grumpypants · 17-12-2020 12:19PM

I gave up trying to trade. On paper it looks good, if I sell here and buy there I'll make 20%. But as we saw today it only take one sale at a fake peak to eat into all the little gains you made.

Just buy what you can afford and hold it. I've made way more that way and your nerves will thank you for it.

Wombatman · 17-12-2020 02:10PM

Everything sold now. Going to sit back and wait for the next substantial correction. I expect BTC to be below 18k in the next 3 months.

Last buy was in May 2019.

jmlad2020 · 17-12-2020 02:40PM

Wombatman wrote: »

Everything sold now. Going to sit back and wait for the next substantial correction. I expect BTC to be below 18k in the next 3 months.

Last buy was in May 2019.

Sold for what, Euros? USD tether? What is your method? Tempted to convert to stable coins myself. Insane interest on offer on BlockFi etc

q85dw7osi4lebg · 17-12-2020 03:31PM

Wombatman wrote: »

Everything sold now. Going to sit back and wait for the next substantial correction. I expect BTC to be below 18k in the next 3 months.

Last buy was in May 2019.

Would it not have made sense to keep buying from May 19 - November 20 while it was between 4 and 11k let alone 18k? May have been more fruitful than waiting on the next dip (which yes will likely happen).

q85dw7osi4lebg · 17-12-2020 03:40PM

P.S it was $18,000 last Friday.

Wombatman · 17-12-2020 04:07PM

Addison Fancy Macrame wrote: »

Would it not have made sense to keep buying from May 19 - November 20 while it was between 4 and 11k let alone 18k? May have been more fruitful than waiting on the next dip (which yes will likely happen).

May have been, but my hindsight machine was in the repair shop.

Irish_rat · 17-12-2020 07:16PM

Addison Fancy Macrame wrote: »

Drafting my notice

Its great to be in that position!

q85dw7osi4lebg · 17-12-2020 08:19PM

Irish_rat wrote: »

Its great to be in that position!

The predicament is that it’s also nice to have new FIAT every month to stack more corn.

antgal23 · 17-12-2020 09:27PM

Wombatman wrote: »

Everything sold now. Going to sit back and wait for the next substantial correction. I expect BTC to be below 18k in the next 3 months.

Last buy was in May 2019.

A 2021 Q1 retrace to the 14 k level would be just great

antgal23 · 17-12-2020 09:32PM

Grumpypants wrote: »

I gave up trying to trade. On paper it looks good, if I sell here and buy there I'll make 20%. But as we saw today it only take one sale at a fake peak to eat into all the little gains you made.

Just buy what you can afford and hold it. I've made way more that way and your nerves will thank you for it.

Day trading is a tough game, out of 100 retail day traders how many successfully live off it? 10? 5 ?

Can't see anything wrong with investing some in the space and leave it for 5 years

I put a huge chunk of my savings into it in Q3 2017, watched sky rocket before the bust but I always held. I'm still down but looking much better than 2018 and 2019 and will hold for maybe three more years

unkel · 17-12-2020 09:48PM

grindle wrote: »

One thing that comes up too rarely on the Bitcoin subs (but it does come up occasionally) - if BTC is challenging traditional money or markets in any reasonable way in the future, something very bad has happened and hyperinflation is on the cards if not already happening. Even if you're BTC rich in that instance, either something gravely bad has happened or Q.E. has become so much of a norm beyond what it already has that people are pushing spare money into a speculative asset as a safety feature for value - which we're all doing unless we're just degenerate gamblers *cough*.
Great for people who've been buying earlier, worrying for the world at large.

That thought has been in my head increasingly so since early this year. The only way the world can overcome COVID financially is to QE itself out of it. I don't think we can even imagine the repercussions of that yet.

grindle · 17-12-2020 09:49PM

antgal23 wrote: »

will hold for maybe three more years

4-5 more years if the current cycle mimics the last two, surely?

3 years from now will be the BTC halving equivalent of selling in 2019 after the 2017 peak or 2015 after the 2013 peak, selling near enough the bottom before the next upswing begins.

unkel wrote: »

That thought has been in my head increasingly so since early this year. The only way the world can overcome COVID financially is to QE itself out of it. I don't think we can even imagine the repercussions of that yet.

It's pretty dire but a cyclical and prolonged recession/depression will really seal the deal. It still seems most don't know that money is just made up, printed and flowing upwards to "ease tension" so it seems likely they'll get away with QE that would cripple future generations even more than currently.

I'm sure the 0.01% will pay their fair share, they're usually sound like that, right?

unkel · 17-12-2020 10:31PM

grindle wrote: »

It still seems most don't know that money is just made up

That's an excellent definition of fiat money

Is anyone else starting to become a bit excited?

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