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Is anyone else starting to become a bit excited?

q85dw7osi4lebg

As per title, have we reached the bottom ?

Don't think we'll see the likes of $3200 ever again.

$5150 at time of posting.

Back in the mainstream media once more.

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Meself

BrandonBay86 wrote: »

Wallet up over 1500% from the lows of March 11/12th last year from buying dips & DCAing. Wouldn’t get that in the S&P.

Ive read a bit about DCA but cannot get my head around it.
Is it simply buying in a dip throughout the year and holding?
Do you set a dip target and hope it dips to it ?

Why would you not put all on a dip target ? In case it goes lower on the next one ? Who is to say it will ever reach it again.

FFVII

The bitcoin elite are spending millions on collectable memes

It started with CryptoKitties. In December 2017, the dopey-looking cartoon cats, created by Canadian company Dapper Labs, debuted as tradable collectibles, like Pokémon cards for the bitcoin era. Each image was associated with a unique string of digits – a cryptocurrency “non-fungible token” or NFT – that could be traded on the Ethereum blockchain platform as a title deed granting the holder ownership of a particular kitty.

The trading game quickly caught on among the crypto-initiated, so much so that CryptoKitties-related transactions clogged and slowed down Ethereum.

Its end point is an auction starting tomorrow, in which a token associated with a digital collage of 5,000 images by graphic designer Beeple will go under the hammer at auction house Christie’s. Cryptocurrency payments are of course accepted.

Timmaay

Very easy to say on hindsight that bitcoin would be 50k, during last year's Corona crash to 4k, where there complete fear panic and blood on the streets it was a totally different story ha. Anyways personally I started investing Jan last year simply because I was sick of zero interest on my savings (mostly for a house mortgage deposit in the next few yrs), back then if I could of earned 5% I would of been well happy. Instead now a year later thanks to both the stockmarket and crypto I'm hopefully looking at the likes of only needing a 50% mortgage. The dayjob I will absolutely always keep, I don't do 9 to 5 (instead often do far longer hours ha, but equally so good flexibility), but anyways as was said I'd happily swap last year's well over 100% overall gains for a steady garanteed 20% every year, you compound 100k at 20% return every year, with zero additional capital, you will become a millionaire 13yrs later. I don't expect that ha, but basically give me steady but guaranteed return's every single year rather than one insane bubble that might tempt me with insane moonshots but in the space of one poor week I could very easily see 50% of my balance wiped out if it was all in crypto. And if some of the posters here have already done 1500% I'm assuming there are a significant number of yous who are already in a life changing scenario thanks to crypto, you surely gotta strongly considering getting out then, rather than simply "hodl forever"

Timmaay

Meself wrote: »

Ive read a bit about DCA but cannot get my head around it.
Is it simply buying in a dip throughout the year and holding?
Do you set a dip target and hope it dips to it ?

Why would you not put all on a dip target ? In case it goes lower on the next one ? Who is to say it will ever reach it again.

DCA = dollar cost averaging, you have like 12k to invest in the year, you buy a grand start of each month regardless of any dips or peaks. What alot of people do is instead is try to spread that same 12k across what they think themselves are dips. Trouble here is when you start catching a falling knife and it keeps on dipping ha, just make sure you like don't blow most your 12k in like feb as its dip after dip, then the actual bottom only comes later in the year.

Meself

Timmaay wrote: »

DCA = dollar cost averaging, you have like 12k to invest in the year, you buy a grand start of each month regardless of any dips or peaks. What alot of people do is instead is try to spread that same 12k across what they think themselves are dips. Trouble here is when you start catching a falling knife and it keeps on dipping ha, just make sure you like don't blow most your 12k in like feb as its dip after dip, then the actual bottom only comes later in the year.

Ok.. so if I'm reading it right, you pick a date every month and stick to it? ...same stock

ZeroThreat

cnocbui wrote: »

In the hypothetical case where your profits are potentially life changing, I would emigrate to somewhere with a lot less than 33% CGT, preferably 0%, before taking profit.

The problem with that is that you have to become non ordinarily resident here before you're exempt from CGT and knowing the zealous nature of Irish revenue (unless you're a large multinational) they'll chase you whereever you go, so realistically you'll have to wait 3 years before selling anything off after emigrating.

cnocbui

ZeroThreat wrote: »

The problem with that is that you have to become non ordinarily resident here before you're exempt from CGT and knowing the zealous nature of Irish revenue (unless you're a large multinational) they'll chase you whereever you go, so realistically you'll have to wait 3 years before selling anything off after emigrating.

The only power Revenue have is in Ireland over assets you might have in Ireland. There is no interntional 'pursuit' of individuals over tax issues. So if you leave and intend never to return, or within 10 years, anyway, you can do as you please.

Jeff2

Ask what's his name... Tax compliment.

I think you have to be 183 days out of the country a year.

grindle

Timmaay wrote: »

...if some of the posters here have already done 1500% I'm assuming there are a significant number of yous who are already in a life changing scenario thanks to crypto, you surely gotta strongly considering getting out then, rather than simply "hodl forever"

No.

When the market was crashing last March there wasn't a single moment where I thought "Oh no, it's headed to zero", I thought "Ooh, every market in the world is panicking, I wonder where the floor'll be? I should buy more."

Why stop buying something where it's ecosystem hasn't even matured yet?

Irish_rat

Many crypto will reach a point where they won't be as volitile anymore when the total market cap passes 10 trillion on the way to 100 trillion

BrandonBay86

Meself wrote: »

Ok.. so if I'm reading it right, you pick a date every month and stick to it? ...same stock

I buy roughly the same € amount every weekend and don’t sell it. Never sold a satoshi.

cnocbui

Jeff2 wrote: »

Ask what's his name... Tax compliment.

I think you have to be 183 days out of the country a year.

Even Jesus Christ knew the truth of it as it applies here: 'Render unto Caesar the things that are Caesar's,'

If you move to live in another country, the minute you set foot in that country, you cease to have any obligation to abide by irish laws and every obligation to abide by that countries laws. That 3 year rule has no leagl enforcibility outside of Ireland and Revenue are just flying a kite, as thay have no power or mechanism of enforcement.

Even the guff Irish judges love to pontifcate about and hold forth on concerning 'ordinarily resident', 'permanently resident' and so forth, only have applicabilty within Ireland, because Irish law and their rulings only have relevance here.

So long as you don't have assets within Ireland and don't actually set foot within Ireland within 10 years, you abide by Caesar's laws, not Dublin's

BrandonBay86

grindle wrote: »

Dose for them! I'm excited for sub €100 ETH and the slide in the last 10 mins makes me think it's near definite, gonna splooge my pants.

Lmao.. good times.

https://touch.boards.ie/thread/2057969971/236

BrandonBay86

sabat wrote: »

Sub 2k by the end of the month then the inevitable drift to vaporware. It's over folks. Bitcoin's long promised moment in the sun was supposed to be happening right now and it's in less demand than a 24 pack of cushelle.

Beautiful.

BrandonBay86

flexcon wrote: »

Oh I get it. I’ve no doubt. But I don’t have the confidence or intellect to understand how in gods name it drops from 9K to 4.5K in less than 48 hours. It’s real money I put in there and it’s gone. It’s over.

I’m not going to sink because of this but all my
Play money is lost. Once it’s back up then I’m out and buying a play station or something I can actually enjoy for a few years of peace!

Did you hodl on?

Mellor

jester77 wrote: »

I withdrew my initial investment a while back. It was about 20% of the value of what I have. It just feels like we are in a huge bubble. If it keeps going, I still have the other 80% working for me, if it collapses I can buy in again.

In that case you've withdrew a safety net. There is nothing wrong with that.
But it differs from the example I quoted.

In that example they withdrew, but immediately started to reinvest with DCA.
That serves no purpose other than to reduce your BTC holdings.

Lex Luthor wrote: »

what is it was 25k and not an amount they could afford to lose, but now their investment is up to 125k and they are in a great position to take back that 25k and treat themselves with a decent amount still in the game

It's irrelevant what they have invested. The maths is the same either way.
Say you withdrew that 25k on Jan 1. And DCA e500 a week. At the end of the year, you're 25k in back in your wallet, and you own less BTC.

It would be a valid strategy in a falling market, but in a rising one. It's just giving away BTC.

Daithi40

Mellor wrote: »

In that case you've withdrew a safety net. There is nothing wrong with that.
But it differs from the example I quoted.

In that example they withdrew, but immediately started to reinvest with DCA.
That serves no purpose other than to reduce your BTC holdings.

It's irrelevant what they have invested. The maths is the same either way.
Say you withdrew that 25k on Jan 1. And DCA e500 a week. At the end of the year, you're 25k in back in your wallet, and you own less BTC.

It would be a valid strategy in a falling market, but in a rising one. It's just giving away BTC.

Not necessarily.... in my case being a divorcee I need to show x amount of fiat for a new mortgage for example, banks ain't too hot on hearing how much crypto you own or stake

Anyway, everybody's situation is different, I get your maths but it's not applicable to everyone's situation or risk appetite

Mellor

Daithi40 wrote: »

Not necessarily.... in my case being a divorcee I need to show x amount of fiat for a new mortgage for example, banks ain't too hot on hearing how much crypto you own or stake

Anyway, everybody's situation is different, I get your maths but it's not applicable to everyone's situation or risk appetite

That's fair enough, there are times when you need to show X amount of fiat.
But you could withdraw, show the money, and reinvest. In that case.
My point was purely about the idea of withdrawing to reinvest over time.

BOHtox

95% of all BTC is owned by 2% of people. Now I know fiat is probably even worse but that's not my point.

My point is, what happens if BTC hits 200k and these whales think "You know what? 200k is loads. I've 10-20xed. I'ma sell"

I think this problem is particularly unique to BTC as BTC's only real value is as a store of wealth. As a digital asset is so easy to buy and sell, I do see a point where the whales are happy with their profits and reinvestment in other things like precious metals.

I like BTC, I think it's a great investment, I have BTC and I'll accumulate more over the years. But you don't want to be the last one out either.

Any thoughts on the above?

I think other projects like ETH, ADA, AAVE etc and other projects have actual value in their use case, being either a Blockchain or DeFi project.

Lex Luthor

Mellor wrote: »

It's irrelevant what they have invested. The maths is the same either way.
Say you withdrew that 25k on Jan 1. And DCA e500 a week. At the end of the year, you're 25k in back in your wallet, and you own less BTC.

but then you would have to ask the question why would you withdraw to invest back in a rising market using DCA?

The assumption is jester77 is taking out his initial investment and not re-investing and using it for something he needs like paying off a chunk of debt for example

He only said "if"....

IMO its always good to take profits off the table in phases as the market is rising

Lex Luthor

all the footie fan tokens had a good few days

The CL effect must be causing it

Lex Luthor

Here comes the US Gov stimulus check....should bring the numbers to the next levels fairly soon

olestoepoke

Lex Luthor wrote: »

all the footie fan tokens had a good few days

The CL effect must be causing it

https://finance.yahoo.com/news/fan-token-platform-chiliz-plans-104607038.html

This may have also been a factor

Mellor

Lex Luthor wrote: »

but then you would have to ask the question why would you withdraw to invest back in a rising market using DCA?

That's precisely what I did question.

The assumption is jester77 is taking out his initial investment and not re-investing and using it for something he needs like paying off a chunk of debt for example

He only said "if"....

I don't think are mixing up the actual post I quoted originally.
Not having a go that the specific poster, he explained his fiat needs. I'm just talking about the generally strategy of taking profits to savings and DCAing from cash flow.

Rob2D

BOHtox wrote: »

95% of all BTC is owned by 2% of people. Now I know fiat is probably even worse but that's not my point.

My point is, what happens if BTC hits 200k and these whales think "You know what? 200k is loads. I've 10-20xed. I'ma sell"

I think this problem is particularly unique to BTC as BTC's only real value is as a store of wealth. As a digital asset is so easy to buy and sell, I do see a point where the whales are happy with their profits and reinvestment in other things like precious metals.

I like BTC, I think it's a great investment, I have BTC and I'll accumulate more over the years. But you don't want to be the last one out either.

Any thoughts on the above?

Very clickbaity post you have there. That would completely absurd. Those 2% are exchange accounts. So it's not like a couple of whales. In fact it would take quite the co-ordinated sell off to really destroy the price. Just a couple weeks ago we saw F2Pool have some of the biggest sell offs ever and it was barely a speedbump in the price.

You're also assuming that large holders will ever even want to sell. Like, sell for what? Fiat not looking too hot right now. Gold/Silver are performing abysmal. Everyone's talking about a stock market crash. Bonds are the biggest joke ever. All that institutional money that came in; they're not looking to profit. They've already made profit, they just want a safe haven for it. Now I'm not saying it's going to be around forever, but Bitcoin is currently, and I think will be for a while, the best game in town.

When the next bear market hits, I think Bitcoin will have gone way up but I don't think we'll see it go back down below $40K ever again. Which really sucks because I want one :pac:

yabadabado

olestoepoke wrote: »

https://finance.yahoo.com/news/fan-token-platform-chiliz-plans-104607038.html

This may have been also been a factor

Getting into US sports would be huge .
I bought some a few weeks ago after reading about it here initially,nice gains so far.

cnocbui

What 'sneering' ? Quote examples. Calling out bad maths or ilogical financial reasoning isn't sneering, it might actually be seen as trying to be helpful.

That 'past performance is not indicative of future gains ' stuff is all very cute, but everyone knows in their heart it's about the only game in town.

cnocbui

correct horse battery staple wrote: »

Are you thinking deep down in your heart that “this time it’s different”?

Went over my head, you'll have to be less clever.

Grumpypants

I've sold chunks over time. Took the family on a holiday and cleared my car loans. Covered the mortgage while the missus was on unpaid maternity leave. Most importantly I Bought loads of toys for myself.

I don't regret any of it.

No point making money if you don't enjoy it too. You could be hit by a bus tomorrow and all your bitcoin are useless.

If Covering your initial investment lets you ride out the next ten years with a risk free investment then you are more likely to hold through the dips and crashes.

I was able to hold through the last crash because it was all risk free and I could let it ride. Ended up with more now as I could buy in during the crash. Even with the 80% drop I was still up over all.

simongurnick

Probably been discussed before but what are folks thoughts in ethereum? I'm new to crypto but seems to me it is an investment in both the currency and the whole network/platform.