The Bubbly Bitcoin Thread -- Merged Threads

[headmelter]

1 minute ago, dugsbody said:

Not going to happen. They've green-lighted so many bitcoin investments already that it is impossible. 

Nothing is impossible... We've had 'emergency' record low IR's for a decade.

[Frugal Git]

Well, Let's see how the newer buyers cope.

When they've successfully held through a cycle or two, then congrats. You're a hodler.

Various people on here have seen - in sterling terms - 7 figures go back to low 6, or six figures go back to low 5s, or 5 figures back to 4 and held with iron will. 

I'm down a Tesla in a week. So what. Hodl.

When someone has done similar, they've earned the right to take a little poke at an old skool hodler who sells out. But that's the point I think @jiltedjen is making, test your own mettle first before joining in the the baiting.

Mind you, I think it's worth dropping the whole thing too.

 

Edited April 23, 2021 by Frugal Git

[zugzwang]

1 minute ago, headmelter said:

Nothing is impossible... We've had 'emergency' record low IR's for a decade.

The Long Emergency.

[longgone]

7 minutes ago, dugsbody said:

Not going to happen. They've green-lighted so many bitcoin investments already that it is impossible. 

in preparation for a nice tax take more than likely. 

[MonsieurCopperCrutch]

23 minutes ago, jiltedjen said:

Correction LOWER price 

Eh? You said you'd set up DCA buys to buy back what you'd sold. If so, like your arch nemesis @Buffer Bear then until today you have been buying at a HIGHER price than currently. 

Intereating that you didn't try to correct me over your FOMO buying fiat. 😉

[MonsieurCopperCrutch]

3 minutes ago, zugzwang said:

The Long Emergency.

The @longgone emergency. 😂

[longgone]

Just now, MonsieurCopperCrutch said:

The @longgone emergency. 😂

 

[dugsbody]

1 minute ago, MonsieurCopperCrutch said:

Eh? You said you'd set up DCA buys to buy back what you'd sold. If so, like your arch nemesis @Buffer Bear then until today you have been buying at a HIGHER price than currently. 

Intereating that you didn't try to correct me over your FOMO buying fiat. 😉

Chill. 

[markyh]

17 minutes ago, longgone said:

https://www.express.co.uk/finance/city/1426834/bitcoin-ban-value-price-prediction-cryptocurrency-btc-digital-currency-ray-dalio-spt

 

Bitcoin ban: Value predicted to halve as cryptocurrency may be ‘outlawed like 1930s gold’

I will keep this simple, IF all these people really believe this, why are they not all selling 100% of their Bitcoin holdings now, rather than HODLing and buying more? 

Pure FUD, designed to scare all the little man long term HODLERs like us, as despite their best efforts, we are not selling to them at a price they want.  

[MonsieurCopperCrutch]

Just now, dugsbody said:

Chill. 

You're right. I've got work to do. I'll check back in later to review the carnage. 😂 👍

[longgone]

3 minutes ago, markyh said:

I will keep this simple, IF all these people really believe this, why are they not all selling 100% of their Bitcoin holdings now, rather than HODLing and buying more? 

Pure FUD, designed to scare all the little man long term HODLERs like us, as despite their best efforts, we are not selling to them at a price they want.  

until it happens 

[jiltedjen]

15 minutes ago, Frugal Git said:

Well, Let's see how the newer buyers cope.

When they've successfully held through a cycle or two, then congrats. You're a hodler.

Various people on here have seen - in sterling terms - 7 figures go back to low 6, or six figures go back to low 5s, or 5 figures back to 4 and held with iron will. 

I'm down a Tesla in a week. So what. Hodl.

When someone has done similar, they've earned the right to take a little poke at an old skool hodler who sells out. But that's the point I think @jiltedjen is making, test your own mettle first before joining in the the baiting.

Mind you, I think it's worth dropping the whole thing too.

 

probably should of been dropped after the initial baiting. but while the prices is lower than my main stash selling price now is my slim opportunity to bait back.

personally i rather it stops, but better your bottom dollar when the price recovers the baiting will come back directed at me with a vengeance 

that's why bufferbear wound me up, was silly until they fully understand the emotional strength required to hold through such aggressive cycles time and time again, not using it for a deposit when i really needed it and instead spending several hours a day commuting. And they will probably never know what it feels like to cash in 100k of basically free money, perhaps making 5-10k max, and for sure they will never know how it feels to be baited over one of your best life decisions to date.

I guess doing a bufferbear will always be buying late in a cycle and baiting a real winner and looking a bit silly in the process. 

buying bitcoin a whole bitcoin at £15 will never come back again. 

[Frugal Git]

5 minutes ago, jiltedjen said:

that's why bufferbear wound me up, was silly until they fully understand the emotional strength required to hold through such aggressive cycles time and time again, not using it for a deposit when i really needed it and instead spending several hours a day commuting. 

This part I completely agree with. When you see close members of your family semi- eye rolling that you didn't sell in late 2017, and the doubt tries to creep in and you're questioning yourself. That's the steel to get through it.

but I genuinely wish @Buffer Bear the best as well now.

I hope when/if  the *real* tests comes (this is noise at the moment) they absolutely rise to it and hodl and also make themselves 100% hardened👍

[jiltedjen]

Just now, Frugal Git said:

This part I completely agree with. When you see close members of your family semi- eye rolling that you didn't sell in late 2017, and the doubt tries to creep in and you're questioning yourself. That's the steel to get through it.

but I genuinely wish @Buffer Bear the best as well now.

I hope when/if  the *real* tests comes (this is noise at the moment) they absolutely rise to it and hodl and also make themselves 100% hardened👍

I would argue its easier to be a Holder now. The risk is lower these days but in saying that the potential short to medium terms gains are are also much lower.  

Maybe 100-150% gains which is great, and basically beats everything else. but unless your willing to hold 10+ years you might not see more than that. to make 10k you have to have 10k on the line, its no longer a few hundred invested will turn into 100k like the old days.

The days of buying Bitcoin for £15 are long gone.

I personally think the long term holders by their nature are very bullish, but few ever seem to pause and ever say 'its looking overheated', almost blind bullishness. 

I don't think any new buyers will experience what few on here have experienced. 

There were periods on this thread which went on for months, where there was maybe 1 or 2 bulls, and endless attacks from no-coiners, i dont think those days are coming back, there was the endless fights with worthless alt-coin investors, who never seem to learn etc, its been hard being right when your faced with soo many people who are wrong.

 

[Huggy]

1 hour ago, longgone said:

https://www.express.co.uk/finance/city/1426834/bitcoin-ban-value-price-prediction-cryptocurrency-btc-digital-currency-ray-dalio-spt

 

Bitcoin ban: Value predicted to halve as cryptocurrency may be ‘outlawed like 1930s gold’

The Express is run for the benefit of boomers for whom the thought of another demographic getting 'unearned gains' turns them into the stereotypical red faced angry old man.

Although exciting times ahead if it's like the 30s now. 😄

Edited April 23, 2021 by Huggy

[ucnvpe0]

21 minutes ago, jiltedjen said:

I would argue its easier to be a Holder now. The risk is lower these days but in saying that the potential short to medium terms gains are are also much lower.  

Maybe 100-150% gains which is great, and basically beats everything else. but unless your willing to hold 10+ years you might not see more than that. to make 10k you have to have 10k on the line, its no longer a few hundred invested will turn into 100k like the old days.

The days of buying Bitcoin for £15 are long gone.

I personally think the long term holders by their nature are very bullish, but few ever seem to pause and ever say 'its looking overheated', almost blind bullishness. 

I don't think any new buyers will experience what few on here have experienced. 

There were periods on this thread which went on for months, where there was maybe 1 or 2 bulls, and endless attacks from no-coiners, i dont think those days are coming back, there was the endless fights with worthless alt-coin investors, who never seem to learn etc, its been hard being right when your faced with soo many people who are wrong.

 

Why do you spend so much time justifying your decision. You have nothing to prove and don't need anyone else's approval. At the end of the day, everyone (including you) hype things until you cash out on your personal moon. Pretending it's anything more than that is pointless. 

Edited April 23, 2021 by ucnvpe0
.

[yelims]

58 minutes ago, Frugal Git said:

Well, Let's see how the newer buyers cope.

When they've successfully held through a cycle or two, then congrats. You're a hodler.

Various people on here have seen - in sterling terms - 7 figures go back to low 6, or six figures go back to low 5s, or 5 figures back to 4 and held with iron will. 

I'm down a Tesla in a week. So what. Hodl.

When someone has done similar, they've earned the right to take a little poke at an old skool hodler who sells out. But that's the point I think @jiltedjen is making, test your own mettle first before joining in the the baiting.

Mind you, I think it's worth dropping the whole thing too.

 

I’m down a house in a week 😂 I love these units of measurement, so this is how it feels to have ****** you money and not care

[warpig]

1 hour ago, dugsbody said:

Not going to happen. They've green-lighted so many bitcoin investments already that it is impossible. 

If it remained an asset it will survive... if there's a continual push to get companies to adopt it as a means of payment, it will be targetted. The problem is, if it's not a means of payment, what's the point of having it? 

[longgone]

11 minutes ago, Huggy said:

The Express is run for the benefit of boomers for whom the thought of another demographic getting 'unearned gains' turns them into the stereotypical red faced angry old man.

Although exciting times ahead if it's like the 30s now. 😄

no one does work for gainz anymore.  

[smash]

Pump and dump stuff is good fun but for a more long term investment what do more experienced people here think to something called Cosmos (atom) ? Sounds safemoony but this looks like something that has real world application.

[Frugal Git]

7 minutes ago, yelims said:

I’m down a house in a week 😂 I love these units of measurement, so this is how it feels to have ****** you money and not care

It's not just f**k you money that these tests build. It's f**k you attitude and f**k you I'll be fine.

It teaches you that it can *all* go to zero, and you'll recover. Do your best to keep your health, your friends, and your skills sharp and be try and be happy and content. And live as free as possible. I barely listen to the news now, I just concentrate on my world. 

[Frugal Git]

Also no-one should give two sh*ts about CGT, especially in the UK.

The UK

* Tax free allowance of 12.5k

* CGT allowance of 12k ish

* SIPPs with 25% tax free withdrawl/lump sum

* ISA with no CGT on gains

create a basket of assets to take advantage of those plus a minor income, and you're golden. Unless you have designs on looking super wealthy outwardly.

[dugsbody]

26 minutes ago, warpig said:

If it remained an asset it will survive... if there's a continual push to get companies to adopt it as a means of payment, it will be targetted. The problem is, if it's not a means of payment, what's the point of having it? 

It isn't a means of payment, no matter how many layers or mechanisms they add. People won't pay for stuff as a matter of course using something they hope will be worth more tomorrow. They'll pay in depreciating fiat, which is instant and hassle free.

It's a speculation play that people will keep paying more for it in the future because someone else will pay them more for it in the further future.

Same as gold.

[dugsbody]

19 minutes ago, Frugal Git said:

It's not just f**k you money that these tests build. It's f**k you attitude and f**k you I'll be fine.

It teaches you that it can *all* go to zero, and you'll recover. Do your best to keep your health, your friends, and your skills sharp and be try and be happy and content. And live as free as possible. I barely listen to the news now, I just concentrate on my world. 

One of the best bits of advice on this forum. I wish I could apply it consistently because when I do I am much happier.

[jiltedjen]

If using bitcoin gains to pay down a mortgage your not just paying down the capital to clear it, you are also clearing all the interest payments saved from all the years your not paying off your mortgage

so for every £1 paid extra saves you £5 over the life of the mortgage. 

It’s a bit like turbo boosting your gains, and more than makes up for the CGT I’m liable for.