The Bubbly Bitcoin Thread -- Merged Threads

[BufferBear Bitcoin Bull]

 

 

[BufferBear Bitcoin Bull]

Hee hee...

 

 

[MonsieurCopperCrutch]

1 hour ago, Buffer Bear said:

Is see it was this Gavin..Is he considered to The Chosen One by many or was it more controversial than this? @MonsieurCopperCrutchas alluded to in the recent 10 year article?

 

 

That's Gavin but it's not SN. 

[BufferBear Bitcoin Bull]

1 hour ago, MonsieurCopperCrutch said:

That's Gavin but it's not SN. 

But it seems from Rizzo's piece that GA was handed the baton by SN or is this only one narrative?

[MonsieurCopperCrutch]

Yet another very healthy day in Bitcoin. Only up $4000 a Bitcoin today, but nonetheless it finally puts to bed @jiltedjen claims of "feeling toppy" and selling for profitz midway through an institutional bull run.

 

Edited April 30, 2021 by MonsieurCopperCrutch

[MonsieurCopperCrutch]

1 hour ago, Buffer Bear said:

But it seems from Rizzo's piece that GA was handed the baton by SN or is this only one narrative?

Yes the baton was passed in so much as SN knew he was leaving the project because it was becoming too much for him, yet he could trust GA.

[BufferBear Bitcoin Bull]

 

1 hour ago, MonsieurCopperCrutch said:

Yet another very healthy day in Bitcoin. Only up $4000 a Bitcoin today, but nonetheless it finally puts to bed @jiltedjen claims of "feeling toppy" and selling for profitz midway through an institutional bull run.

 

If that time was characterised as 'toppy' I love that look. 🤣 

Mostly in green now with a significant 'profit'. I actually have difficultly digesting what I see in my portfolio!  Feels unreal and we haven't even got started.  I need to acclimatise to the world of Bitcoin and exponential growth@MonsieurCopperCrutchHave no idea how the OG's feel...

1 hour ago, MonsieurCopperCrutch said:

Yes the baton was passed in so much as SN knew he was leaving the project because it was becoming too much for him, yet he could trust GA.

Ok, thanks.  I'm quite intrigued by Raoul Pal's view that BTC was developed by US/UK security services/government.  I saw this in the last couple of days but do not recall the video.  I also saw the documentary where GA explained about 'The visit'...All quite fascinating.  Maybe it explains why there has never been a leak or anyone with the technology to track down NS et al. 

[BufferBear Bitcoin Bull]

Quite impressed by the new fella on twitter WClementeIII, the GenZ Willy Woo.  Pomo has taken him under his wing...

 

 

 

 

[MonsieurCopperCrutch]

13 minutes ago, Buffer Bear said:

 

If that time was characterised as 'toppy' I love that look. 🤣 

Mostly in green now with a significant 'profit'. I actually have difficultly digesting what I see in my portfolio!  Feels unreal and we haven't even got started.  I need to acclimatise to the world of Bitcoin and exponential growth@MonsieurCopperCrutchHave no idea how the OG's feel...

Ok, thanks.  I'm quite intrigued by Raoul Pal's view that BTC was developed by US/UK security services/government.  I saw this in the last couple of days but do not recall the video.  I also saw the documentary where GA explained about 'The visit'...All quite fascinating.  Maybe it explains why there has never been a leak or anyone with the technology to track down NS et al. 

Indeed but you will know soon enough. Remember it would be very easy for you to cash out now to do a @longgone at the first sight of 2x. Which you can if you want obviously. However to feel like an OG you need to think and walk the path of an OG. Who cares about 2x an investment. I never did. Which is why I never sold at such levels. For me I was always writing off the money and thinking long-term. Minimum 8 years (2 halvenings). Now you have already hodled for 6 months (correct me if I am wrong since Decemeber 2020?) then you still have 15x time and investment opportunity to catch up with me. But it will happen. All I'm trying to point out to you is the potential value of your own Bitcoin across a timescale of 8 years. 8 years ago I was buying Bitcoin at $150 with high risk and no infrastructure. The Bitcoin that you are buying today valued across another 7.5 years time will have exploded. After next year there are only 2 million of the 21 million Bitcoin left to mine. It's still early but the windows closing on the normal person ever owning 1 whole Bitcoin. 

[BufferBear Bitcoin Bull]

32 minutes ago, MonsieurCopperCrutch said:

Indeed but you will know soon enough. Remember it would be very easy for you to cash out now to do a @longgone at the first sight of 2x. Which you can if you want obviously. However to feel like an OG you need to think and walk the path of an OG. Who cares about 2x an investment. I never did. Which is why I never sold at such levels. For me I was always writing off the money and thinking long-term. Minimum 8 years (2 halvenings). Now you have already hodled for 6 months (correct me if I am wrong since Decemeber 2020?) then you still have 15x time and investment opportunity to catch up with me. But it will happen. All I'm trying to point out to you is the potential value of your own Bitcoin across a timescale of 8 years. 8 years ago I was buying Bitcoin at $150 with high risk and no infrastructure. The Bitcoin that you are buying today valued across another 7.5 years time will have exploded. After next year there are only 2 million of the 21 million Bitcoin left to mine. It's still early but the windows closing on the normal person ever owning 1 whole Bitcoin. 

@MonsieurCopperCrutchI've thought this through properly before jumping in and have no intention of leaping out so early - my intention is to remain longterm -  In fact, I don't want to jump out at all. Psychologically, I've planned for the longterm and also written off what I have invested.  Caveat:  I put a little more in than planned and if this ever goes anywhere, I will consider cashing it in.  If it doesn't, it will remain with the main investment.  My goal is no longer to buy house in the near future as I think BTC is a better bet over the long-term (I can't put in a larger percentage as my husband is not on side) and I am fortunate to have a secure home and have other options open to me.

The thing that bothers me most is self-custody given I am in the for the long-term.  I am considering Unchained Capital or something similar (inheritance planning) in the future possibly but I am uncomfortable with this.  It may be that I educate my eldest how to manage my wallets -  2 Ledgers and a CryptoTag.  This stresses me more than the recent fall in price.  This stressed me but only because I couldn't move funds quickly enough to buy and bought back in around 35 -38 rather than 34k+!  😏😁

Given I got in quite late, relatively speaking to those on here, my overall plan is to keep at least two Bitcoin for my children.  My husband I are secure, good jobs, pension etc.  GenZ are not and they are my focus. In real terms, we do not need crazy amounts to secure their future.  I'm modest financially.  A roof over their head is the priority.

I'm intrigued by how it will all pan out but as a newbie, to keep my conviction strong (I have always felt strongly about the political and economical system and inequality but had no idea how to opt out - I do now), I continue to educate myself on the wider economy and the place of BTC holds in this new world...

Ps yes, Dec. First purchase - £17k+. I feel lucky as I jumped in with a 'large' sum, or at least large to me, before end Dec.

Edited May 1, 2021 by Buffer Bear

[BufferBear Bitcoin Bull]

 

@longgone

Edited May 1, 2021 by Buffer Bear
To add Longgone's name!

[markyh]

10 hours ago, MonsieurCopperCrutch said:

Yet another very healthy day in Bitcoin. Only up $4000 a Bitcoin today, but nonetheless it finally puts to bed @jiltedjen claims of "feeling toppy" and selling for profitz midway through an institutional bull run.

 

So April was a "Red Month" , finishing the month down a whole $1k!  lol.  Mind you an impressive $18k of price swings during the month. 

So now we have posted a loss making month, we can continue upwards. 

[MonsieurCopperCrutch]

17 minutes ago, markyh said:

So April was a "Red Month" , finishing the month down a whole $1k!  lol.  Mind you an impressive $18k of price swings during the month. 

So now we have posted a loss making month, we can continue upwards. 

Meanwhile...

 

 

[Price doubt]

I’ve looked at crypto right from the penny beginnings, but remain a no-coiner. I still can’t get past the the stench of the only profits being made at the expense of the greater fool left hodling at the end. How is it any different from the “piece of paper”

 

[BufferBear Bitcoin Bull]

 

[markyh]

9 minutes ago, Price doubt said:

I’ve looked at crypto right from the penny beginnings, but remain a no-coiner. I still can’t get past the the stench of the only profits being made at the expense of the greater fool left hodling at the end. How is it any different from the “piece of paper”

 

A piece of paper isn't secured by the energy of small countries, and there will be no "end" , all holes are found in the FIAT system and plugged with printy printy , so the music never stops to discover the net winners and losers.

Buy Bitcoin, or good luck staying poor.  

[Huggy]

1 hour ago, Price doubt said:

I’ve looked at crypto right from the penny beginnings, but remain a no-coiner. I still can’t get past the the stench of the only profits being made at the expense of the greater fool left hodling at the end. How is it any different from the “piece of paper”

 

If 'the greater fool' wants to give me £1m for any single one of my possessions, who are we to stop them? Would you genuinely say no to a million quid if someone wanted to buy something off you that cost you pennies? Be honest now. Of course I might only be offered pennies in a few years time if the price goes south, but there are risks to these kind of rewardzzz.

I wouldn't take advantage of someone with a mental illness, or a child in this way if they had hold of that kind of cash, but a competent adult is fine to do business with. And this is just a business.

[MonsieurCopperCrutch]

1 hour ago, markyh said:

A piece of paper isn't secured by the energy of small countries, and there will be no "end" , all holes are found in the FIAT system and plugged with printy printy , so the music never stops to discover the net winners and losers.

Buy Bitcoin, or good luck staying poor.  

Imagine looking at crypto when it was just pennies and sitting out the largest bull run in the history of bull runs. That takes some stupidity. 

[goldbug9999]

1 hour ago, Price doubt said:

 I still can’t get past the the stench of the only profits being made at the expense of the greater fool left hodling at the end.

Its worked for gold for 5000 odd years.

[Confusion of VIs]

2 hours ago, markyh said:

So April was a "Red Month" , finishing the month down a whole $1k!  lol.  Mind you an impressive $18k of price swings during the month. 

So now we have posted a loss making month, we can continue upwards. 

For me It was a good time for a red month. To claim my 20/21 CGT tax allowance I sold 2 BC split across my. my wife's and kids accounts. I can buy them back tomorrow for (currently) 2% less. To try and guard against BC zooming up and wiping out the 20% tax "profit" I  bought Ethereum as a BC proxy, strategically that didn't work out but luckily went wrong in a good way with 37% rise v BC. 

Taken together using my (our) CGT allowances has given me a free 1.4 BC obviously a fair bit of luck involved with the Ethereum purchase but the tax benefit means that if you take the gamble the odds are loaded in your favour. 

Do others use their CGT allowance each year, I get the feeling most don't and wonder why.

 

 

 

 

[goldbug9999]

2 minutes ago, Confusion of VIs said:

Do others use their CGT allowance each year, I get the feeling most don't and wonder why.

Its only 2k a year tax saving vs letting that 10k run in bitcoin to make a long term average of 1.9x per year.

[Confusion of VIs]

22 hours ago, MonsieurCopperCrutch said:

It was 5 at a time:

http://web.archive.org/web/20100703032414/http://freebitcoins.appspot.com/

I vaguely recall a PC mag article about setting yourself up as a BC miner and giving you 20BC if you did. I wasn't sure if I was imagining it but probably not if they were being given away elsewhere.

At the time 20BC was worth net to nothing and I couldn't be othered. Maybe a missed opportunity or maybe after months of mining I would have spent my haul on a pizza and spent years regretting it.     

[Confusion of VIs]

3 minutes ago, goldbug9999 said:

Its only 2k a year tax saving vs letting that 10k run in bitcoin to make a long term average of 1.9x per year.

£2,460 for each account, also makes sense to split your BC holding cross the family. In my case 4x so 10k a year (assuming there is a enough profit to use the allowance).  Also if CGT does at some point go up to 40% that £10k would become £20k p.a.  

I did it intending to buy the BC back after 30days, and purchased a proxy to guard against missing out on a sudden rise, so the long term average shouldn't be affected.   

[Jonesy74]

3 minutes ago, Confusion of VIs said:

£2,460 for each account, also makes sense to split your BC holding cross the family. In my case 4x so 10k a year (assuming there is a enough profit to use the allowance).  Also if CGT does at some point go up to 40% that £10k would become £20k p.a.  

I did it intending to buy the BC back after 30days, and purchased a proxy to guard against missing out on a sudden rise, so the long term average shouldn't be affected.   

Might only be £2,460 but you also reset your cost basis on that $12,300 per person, meaning less tax on future years gains too. I think it’s probably worth taking advantage of

[markyh]

1 hour ago, Confusion of VIs said:

£2,460 for each account, also makes sense to split your BC holding cross the family. In my case 4x so 10k a year (assuming there is a enough profit to use the allowance).  Also if CGT does at some point go up to 40% that £10k would become £20k p.a.  

I did it intending to buy the BC back after 30days, and purchased a proxy to guard against missing out on a sudden rise, so the long term average shouldn't be affected.   

How did you manage to "sell" your kids BTC into FIAT ? Surely to be classed as "theirs" it would need to be sold via an account with KYC in their names.  I understand "gifiting" your wife and kids BTC to the vlaue of £12500 each, and the wife getting an account is easy as over 18 (i assume!!!), but the kids bit is curious.