BITCOIN

[Kornilov]

Really? tweets move it 10% or more. Do you really think China, EU or USA will allow a product that can allow untrackable transactions?

**** China and the globalists in the EU and their marxist lackeys in the US. **** china with a syphilitic pigmy mule's flaming ****.

Crypto is akin to a revolution in military affairs (RMA) in the way the tank was in 1917. If every dumb mother****er can use crypto to pay for shit - form rice fields in india to potato farms in ukrain to leftist shitholes in the US, then the centralized financial system goes to shit and ashes - just like it was a few hundreds years ago when people traded things of value for things of value.

 

[olympic]

So here I am trying to finally get started in crypto only to learn my bank blocks all transactions with crypto exchanges. Credit card, e-transfers, everything. I'll find a way around it but FML!

 

[quad]

Really? tweets move it 10% or more. Do you really think China, EU or USA will allow a product that can allow untrackable transactions?

Digital assets can be tracked.

 

[Weather Man]

Bitcoin up 7% to $36.8K; trying to understand crypto price swings

• The crypto roller-coaster is still in full swing as extreme volatility continues to whipsaw investors. Over the course of Monday, May 17, through Friday, May 21, Bitcoin (BTC-USD) fell 20% to $32.8K, only to accelerate rapid price moves. On Saturday, it jumped touched as high as $38.8K then fell as low as $31.1K on Sunday, and rose nearly 7% overnight to climb back to $36.8K. In fact, one metric gauging implied volatility on Bitcoin, similar to the VIX index of the U.S. stock market, topped 130, exceeding the VIX's all-time high.
• More crypto volatility: Ethereum (ETH-USD) +8.4% to $2,301. Ripple (XRP-USD) +1.8% to $0.86; Cardano (ADA-USD) +7.5% to $1.47; Stellar (XLM-USD) +18.9% to $0.43; Dogecoin (DOGE-USD) +3.4% to $0.33; Bitcoin Cash (BCH-USD) +5.9% to $621; Uniswap (LTH-USD) +11.2% to $158.
• What the crypto crowd is saying on Twitter:
• Mike Novogratz: "Weekend illiquidity exacerbated this liquidation... We will see... With hindsight."
• Larry Cermak: "This took much longer than I thought but IMO a big reason for why we’re seeing 60% super quick crashes is that there was just way too many projects stretched to crazy valuations and not enough liquidity to support the prices when new demand dries up. Add leverage and voila"
• Mark Cuban: "I think this is the "Great Unwind". Traders borrow to buy Eth, used eth to borrow alt/stable coin, used that to LP a high APY Pair, took the SLPs and staked them to maxout yield. The minute Eth drops to their Tragic Number, they had to Unwind. Unstake, Remove Liqudity, Repay."
• Anthony Pompliano: "Can't believe I even have to say this, but the noise is just FUD. The underlying thesis hasn't changed at all. This week should be wild. Get some rest while you can "
• Scott Melker: A lot of bottom signals, and still believe 29k was it.... but I’ve been wrong quite a few times. Either way, anticipating some relief."
• Tyler and Cameron Winklevoss: "Feels oversold. Buying the dip just got better."
• Barry Silbert: "Where the crypto market goes from here is completely dependent on the stock market over the next couple weeks. The ultimate source of value is so ambiguous that it has a lot to do with our narratives rather than reality."
• Outlook: While recent headlines can try to ascribe meaning to the recent selloff, those reasons have been bubbling for some time, while the HODL crowd will dub them FUD (fear, uncertainty and doubt). On Friday, China reiterated its intent to crack down on digital assets, the U.S. Treasury Department announced plans for large crypto transactions to be reported to the government, and Elon Musk continued to post mixed messages over Twitter. A bigger item to consider is just how sensitive markets can be when sentiment changes, or the store of value for a currency that can display daily swings of 10% to 30%.
• In premarket action: Coinbase Global (NASDAQ:COIN) +1.3%; Riot Blockchain (NASDAQ:RIOT) +0.7%; MicroStrategy (NASDAQ:MSTR) +1.2%; Marathon Digital (NASDAQ:MARA) -0.5%; Osprey Bitcoin Trust (OTCPK:OBTC); Grayscale Bitcoin Trust (OTC:GBTC). See some charts that sum up the declines of Bitcoin and the above-mentioned stocks over the past month.

 

[Weather Man]

Crypto is on sale. If you believe crypto has a future, you are an absolute fool not be buying right now And by buying I mean hoarding everything you can with every spare dollar that you can afford to lose.

Crypto and its uses definitely has a future, the problem is that the entry bar is so low, why would it be used as a store of value like gold? Not saying their isn't money to be made, because the guys timing this volatility right are making bank.

 

[Great Asp]

Really? tweets move it 10% or more. Do you really think China, EU or USA will allow a product that can allow untrackable transactions?

I hear what you are saying. For me, the cryptos with notoriety will get all the action now, and in the future. I ignored BitCoin, did not invest because it did not seem real to me. But I would have made a lot of money.

I see a gleaning of the cryptos in a few years, the small ones will not be able to draw people.

For me, Doge has the biggest upside, and the most catalysts going forward. So as it has been sliding down, I am buying and holding. I do have a sell point that makes everything wonderful, and it has made that number before.

I have a running bet with a buddy who swears GME is going to $1,000...LOL. A bottle of Knob Creek hangs like the sword of Damocles.

As with all investments, I wish you and really everyone on here the best of luck! Of course we are members of SVTP, so each one of us is already filthy rich with a trophy wife!

E

 

[mysticsvt]

I hear what you are saying. For me, the cryptos with notoriety will get all the action now, and in the future. I ignored BitCoin, did not invest because it did not seem real to me. But I would have made a lot of money.

I see a gleaning of the cryptos in a few years, the small ones will not be able to draw people.

For me, Doge has the biggest upside, and the most catalysts going forward. So as it has been sliding down, I am buying and holding. I do have a sell point that makes everything wonderful, and it has made that number before.

I have a running bet with a buddy who swears GME is going to $1,000...LOL. A bottle of Knob Creek hangs like the sword of Damocles.

As with all investments, I wish you and really everyone on here the best of luck! Of course we are members of SVTP, so each one of us is already filthy rich with a trophy wife!

E

Ask yourself why Doge? Are you caught up in tweets or what each coin actually does as a job? EM is all in on Doge, that alone means it has potential...but is it a shit coin that makes money due to tweets and consumer confidence or is it self sustainable due to it's own performance?

 

[Great Asp]

So here I am trying to finally get started in crypto only to learn my bank blocks all transactions with crypto exchanges. Credit card, e-transfers, everything. I'll find a way around it but FML!

The Bank of America app (pc anyway) allows wire transfers to Kraken. I am not a fan of BOA, but it is a vehicle.

E

 

[Great Asp]

Ask yourself why Doge? Are you caught up in tweets or what each coin actually does as a job.

No, no, I agree that from a function standpoint that ETH or ADA or BIT are a better platform. In the next two years I see the growth of Doge as a better way to make money. Yes, the hype is real, and yes I think it helps Doge in the next two years. I do own ETH and ADA.

But as I said, I have Doge boxed in right now, and once I make my number all I will have left in it is left over earnings.

E

 

[mysticsvt]

No, no, I agree that from a function standpoint that ETH or ADA or BIT are a better platform. In the next two years I see the growth of Doge as a better way to make money. Yes, the hype is real, and yes I think it helps Doge in the next two years. I do own ETH and ADA.

But as I said, I have Doge boxed in right now, and once I make my number all I will have left in it is left over earnings.

E

Agree, I have a K in Doge but I also understand I would not put all my eggs in THAT basket. 90% of mine is still in ETH and happy with that stance for long term gains.

 

[KilledbyKenne]

I hope that anyone holding ADA semi long-term is staking it for the rewards. I'm not here to shill a specific stake pool, you'll have to do your own research in that regard. But if you are not staking you are losing out on some easy, and free rewards.

 

[Great Asp]

I hope that anyone holding ADA semi long-term is staking it for the rewards. I'm not here to shill a specific stake pool, you'll have to do your own research in that regard. But if you are not staking you are losing out on some easy, and free rewards.

Completely agree

E

 

[CompOrange04GT]

Agree, I have a K in Doge but I also understand I would not put all my eggs in THAT basket. 90% of mine is still in ETH and happy with that
stance for long term gains.

same same. Don’t get me wrong in January all my eggs were in the doge basket.. but I was able to see the rise of Eth

 

[jvandy50]

I hope that anyone holding ADA semi long-term is staking it for the rewards. I'm not here to shill a specific stake pool, you'll have to do your own research in that regard. But if you are not staking you are losing out on some easy, and free rewards.

Completely agree

E

can you do this on coinbase pro? i'm gonna look into it, but i understand nothing about staking

 

[KilledbyKenne]

can you do this on coinbase pro? i'm gonna look into it, but i understand nothing about staking

No, you can't stake ADA on Coinbase. You'll have to use a digital wallet that allows staking. So you would send your ADA off the exchange and keep it on a wallet that you create and then you would delegate to a stake pool of your choosing.

I use a Yoroi wallet but there are other options too. Just google where to stake ADA and you should get more than enough info.

 

[Kornilov]

For those of you savvy cryptotraders, what is the consensus on eToro - the trading platform?

 

[Klaus]

LOL crypto bros.

"But its a currency" except you cannot buy anything with it. It never will be a currency given the vol and positive expected value.

"But its a hedge against fiat currency." To own it you need to convert fiat currency into it. To monetize it you need to convert it back into fiat currency.

"But its anonymous." Except the only way you can transact is via an exchange which tracks all transactions. The IRS deems crypto property which means that you have to pay cap gains taxes on it.

 

[Kornilov]

LOL crypto bros.

"But its a currency" except you cannot buy anything with it. It never will be a currency given the vol and positive expected value.

"But its a hedge against fiat currency." To own it you need to convert fiat currency into it. To monetize it you need to convert it back into fiat currency.

"But its anonymous." Except the only way you can transact is via an exchange which tracks all transactions. The IRS deems crypto property which means that you have to pay cap gains taxes on it.

On a tangential topic, since you profess expertise in the finance industry, what is your stance on Self Directed IRA's (SDIRA). Are there any SDIRA custodians that are industry leaders?

 

[Klaus]

On a tangential topic, since you profess expertise in the finance industry, what is your stance on Self Directed IRA's (SDIRA). Are there any SDIRA custodians that are industry leaders?

Sorry, not my area of expertise. I invest institutional capital and am not a financial planner.

 

[mysticsvt]

LOL crypto bros.

"But its a currency" except you cannot buy anything with it. It never will be a currency given the vol and positive expected value.

"But its a hedge against fiat currency." To own it you need to convert fiat currency into it. To monetize it you need to convert it back into fiat currency.

"But its anonymous." Except the only way you can transact is via an exchange which tracks all transactions. The IRS deems crypto property which means that you have to pay cap gains taxes on it.

I have most of my money in Fidelity and Vanguard. I can't buy anything with it. I have to convert it back to dollar before I could. See what I did there?