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BackInTheGame78

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It looks like this new covid variant brought it down a bit.. I bought in a little more.

@jaygreenb @BackInTheGame78 Do you see this as something to hold into Retirement.. like Mutual Funds or do you intend to cash out one day?
It's estimated by some the value of a single Bitcoin within 5-10 years will be worth 1 million dollars. Even those who disagree put the value near 350-500K over that timeframe.

Don't let short term noise distract you from long term gains
 

jaygreenb

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It looks like this new covid variant brought it down a bit.. I bought in a little more.

@jaygreenb @BackInTheGame78 Do you see this as something to hold into Retirement.. like Mutual Funds or do you intend to cash out one day?
My personal opinion is the only one long term(10-20yr timeframe) I feel confident in is Bitcoin. I think it will be the one constant as the base currency/store of value. There will certainly be other winners and those that outperform but everything else is basically a new tech company. It's still so early in the eco system development that it's hard to say who will win since none are performing at scale. Those winners may only be dominant for periods of time too like an AOL. The overall industry will definitely be something I stay invested in for the long term though. I have a stack of BTC that I do not intend on selling anytime soon and may never sell. Everything else I just have to see how things play out but plan on staying involved in this industry. I currently have a lot of GBTC in a ROTH but plan on moving it over to itrust capital where you can actually hold and trade the coins without the tax hit.

 

BackInTheGame78

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My personal opinion is the only one long term(10-20yr timeframe) I feel confident in is Bitcoin. I think it will be the one constant as the base currency/store of value. There will certainly be other winners and those that outperform but everything else is basically a new tech company. It's still so early in the eco system development that it's hard to say who will win since none are performing at scale. Those winners may only be dominant for periods of time too like an AOL. The overall industry will definitely be something I stay invested in for the long term though. I have a stack of BTC that I do not intend on selling anytime soon and may never sell. Everything else I just have to see how things play out but plan on staying involved in this industry. I currently have a lot of GBTC in a ROTH but plan on moving it over to itrust capital where you can actually hold and trade the coins without the tax hit.

Feel pretty confident about $DOT as well as they are building technology that allows all the Blockchains to "talk" to each other, basically interconnecting everything.
 

jaygreenb

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Feel pretty confident about $DOT as well as they are building technology that allows all the Blockchains to "talk" to each other, basically interconnecting everything.
I like DOT too, have a decent sized bag of that and KSM. Certainly one of the better risk/reward bets in the short to medium term and long term has a good shot, my point was just new tech is harder to project out far into the future until it operates at scale and has mass adoption. The upside is if you do get it right long term, the returns will be ridiculous. Listened to a good interview last night on my drive home with Sam Bankman who touched on some of these topics

 

SargeMaximus

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Yesterday Bitcoin proved why it will be a great hedge against a market collapse
 

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BackInTheGame78

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Yesterday Bitcoin proved why it will be a great hedge against a market collapse
I'm more into alts and plenty of my alts are doing quite well. Going to be an absolutely epic alt season once BTC gets back on track.

Actually BTC is following almost the exact same pattern it did in 2017, but is about 5-7 days behind...deep correction in November before epic rally til the end of the year.
 
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Reyaj

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My personal opinion is the only one long term(10-20yr timeframe) I feel confident in is Bitcoin. I think it will be the one constant as the base currency/store of value. There will certainly be other winners and those that outperform but everything else is basically a new tech company. It's still so early in the eco system development that it's hard to say who will win since none are performing at scale. Those winners may only be dominant for periods of time too like an AOL. The overall industry will definitely be something I stay invested in for the long term though. I have a stack of BTC that I do not intend on selling anytime soon and may never sell. Everything else I just have to see how things play out but plan on staying involved in this industry. I currently have a lot of GBTC in a ROTH but plan on moving it over to itrust capital where you can actually hold and trade the coins without the tax hit.


I'm wondering if I should be safe and cash out my ETH then reinvest that into BTC...
 

SargeMaximus

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Bought some bitcoin a few hours ago. I still think it’s a scam until I get my tendies
 

jaygreenb

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I bought in back when it was 15k and rode it to 65k… I’m not new to it just cautious and don’t trust it
Just a suggestion, spend a little more time learning about it, might make you look at it a little more than just a short term trade. If you want some more material, happy to send over. To start getting the large multiples you really need to be in for longer periods of time, really starts accelerating at 4-8yrs. Shorter time ranges you are in a volatility range of your purchase price.
 

SargeMaximus

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Just a suggestion, spend a little more time learning about it, might make you look at it a little more than just a short term trade. If you want some more material, happy to send over. To start getting the large multiples you really need to be in for longer periods of time, really starts accelerating at 4-8yrs. Shorter time ranges you are in a volatility range of your purchase price.
I’ve watched lots of YouTube videos on it. I was a true believer. But when the stock market dipped earlier this year around February and bitcoin did too. I no longer believed the narrative that said it would protect against such an event. So actions speak louder than words in this case the price action
 

jaygreenb

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I’ve watched lots of YouTube videos on it. I was a true believer. But when the stock market dipped earlier this year around February and bitcoin did too. I no longer believed the narrative that said it would protect against such an event. So actions speak louder than words in this case the price action
That's a pretty ridiculous conclusion, there is no way to control what other market participants do in the short term.
 

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Reyaj

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For tax purposes are gains/losses declared only on sales of crypto or in general?

Like in stocks you only declare a gain or loss once it's sold, is it the same here?
 

DEEZEDBRAH

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Exactly how I look at it, tuition. In a bull market a lot of holes in your game/understanding of markets is washed over by the exponential price action. It is easy to feel like a genius, at some point we all get exposed by either taking too much risk or lack of knowledge. I am thankful I was able to learn those lessons when I did and not later down the line. After that loss it made me semi obsessed with understanding and learning about the pieces I was missing, market cycles and global macro. Sounds like you have had some similar experiences and are on the same path. Always keep learning and adjusting.
I am annoyed but learning nonstop.

A emergency fund that's 110% liquid is necessary especially today. The ROI is trash but it serves as a purpose.

LTC was annoying. ADA has replaced that annoyance over the years. While up on both I no longer accumulate once a position stalls out. Similar to sports betting, I look for lopsided betting odds not getting it right. Annoyed if I had thrown ADA bag all on Sol, mana, enj etc but... it is what it is.

The play I think now is loading up on btc on the dip when ALTs run. I am still trying to learn more and find resources but. Curious what resources and info you follow? I watch twitter. Few YouTube channels. I want to jump on mastermind groups.
 

DEEZEDBRAH

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It's nowhere near it right now and anyone who claims that there will be one at this point is basing it on the past and not anything it's showing currently. Some are expecting a lengthened cycle lasting well into next year or even a possible super cycle. On chain data is extremely bullish, whales are starting to accumulate heavily again and supply shock is getting ready to happen soon.

Even with a bear market, most analysis points to it bottoming out around 60K, which is higher than what the price is currently.
I hope it goes parabolic and it crashes in epic fashion. I was expecting 100k USD BTC but I think it runs late due to manipulation.

Curious about what your exit strategy is? Tbh there's positions I hold and won't ever sell.
 
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