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Cryptocurrency thread


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22 hours ago, DoctorEncore said:

I bought in a couple thousand dollars at 47k. I would have loved to have bought more, but most of my investing money is tied up in stocks right now. I still plan to buy a bunch more even if I'm just dollar averaging. If it ever crashes below 40k, I'll double my investment.

Do you have a specific goal in mind as to how much bitcoin you would like to own or do you plan to keep buying? I'd like to have at least two full coins, but I'm getting to where I'm lucky if my monthly contributions are adding .01 BTC at a time. I may back my goal up to 1.5 BTC and see how things look when I get there.

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At this point I'm making about an annual salary per week with my Bitcoin. I got laid off last May and I couldn't give less of a shit.

The NBA also just released a digital card pack platform where you purchase packs for $14 - $200 and inside is a video of a player you can keep on your computer to trade with other collectors. Some are numbered, some are hologram and they're selling for 5 figures. The whole platform is built on Ethereum so I expect to see Ether go way above $2000 soon as more developers start using the blockchain platform.

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On 3/11/2021 at 7:28 AM, Bearcat-Doug said:

Do you have a specific goal in mind as to how much bitcoin you would like to own or do you plan to keep buying? I'd like to have at least two full coins, but I'm getting to where I'm lucky if my monthly contributions are adding .01 BTC at a time. I may back my goal up to 1.5 BTC and see how things look when I get there.

The same way that I don't care how many shares of a stock I own, I don't have a specific goal in terms of total number of Bitcoin I want to own. Instead, I'd just like to make crypto approximately 5-10% of my portfolio. Right now it's less than 1%, but I plan to get out of a lot of my day trading stocks and move that money into crypto. All my day trading stuff is more of a hobby than an actual investment since I have something like 5 retirement accounts that are more seriously invested into long term gains.

But to be clear, I'm not planning to day trade crypto. I am very interested in Bitcoin for the long hold. I want to hold at least until it hits 100k.

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24 minutes ago, DoctorEncore said:

The same way that I don't care how many shares of a stock I own, I don't have a specific goal in terms of total number of Bitcoin I want to own. Instead, I'd just like to make crypto approximately 5-10% of my portfolio. Right now it's less than 1%, but I plan to get out of a lot of my day trading stocks and move that money into crypto. All my day trading stuff is more of a hobby than an actual investment since I have something like 5 retirement accounts that are more seriously invested into long term gains.

But to be clear, I'm not planning to day trade crypto. I am very interested in Bitcoin for the long hold. I want to hold at least until it hits 100k.

I'd like to get at least 1.5 BTC in the event I did want to take something out in the future. I plan to continue putting more in when I get to that point so I can have at least 1 BTC at all times.

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9 minutes ago, Code Monkey said:

I read an older article yesterday about New Balance using an ADA platform to provide authenticity verification for their shoe line. Is anyone into Cardano ADA? I'm thinking about buying a pile this week.

My buddy was really big into Cardano a few weeks ago, but it crashed pretty hard. If it is gonna be a big thing, it seems to be at a more reasonable price right now.

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On 3/10/2021 at 9:04 AM, DoctorEncore said:

I bought in a couple thousand dollars at 47k. I would have loved to have bought more, but most of my investing money is tied up in stocks right now. I still plan to buy a bunch more even if I'm just dollar averaging. If it ever crashes below 40k, I'll double my investment.

I bought the dip this morning at $55k. I'm hoping that's the floor for the near future.

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On 3/15/2021 at 8:49 AM, Bearcat-Doug said:

I bought the dip this morning at $55k. I'm hoping that's the floor for the near future.

Yeah I grabbed some around there as well. If the price stabilizes, I'll continue to invest about 1k per week until I'm where I want to be. If we get some nice drops to 50k and lower, I'll move money out of stocks and buy bigger chunks. I still see 40k as the absolute bottom, but the stabilization of Bitcoin is very impressive in the wake of the recent tech stock rollercoaster.

I moved to Voyager from Coinbase and I'm pretty impressed with the wider variety of alt coins, the ability to place limit buys/sells, and the fact they give amazing APR on held coins. I think their platform has a ton of room to grow, so I'm slowly buying Voyager tokens which should get a nice boost as they add more features. I also grabbed some Cardano since it's actively expanding into Coinbase Pro and Bloomberg terminal. I'm hoping for a big upswing when it gets to regular Coinbase.

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10 hours ago, DoctorEncore said:

Yeah I grabbed some around there as well. If the price stabilizes, I'll continue to invest about 1k per week until I'm where I want to be. If we get some nice drops to 50k and lower, I'll move money out of stocks and buy bigger chunks. I still see 40k as the absolute bottom, but the stabilization of Bitcoin is very impressive in the wake of the recent tech stock rollercoaster.

I moved to Voyager from Coinbase and I'm pretty impressed with the wider variety of alt coins, the ability to place limit buys/sells, and the fact they give amazing APR on held coins. I think their platform has a ton of room to grow, so I'm slowly buying Voyager tokens which should get a nice boost as they add more features. I also grabbed some Cardano since it's actively expanding into Coinbase Pro and Bloomberg terminal. I'm hoping for a big upswing when it gets to regular Coinbase.

It seems like bitcoin has been holding steady around $55-57k since Friday. I picked up a decent amount Friday morning at $55k, but I might get some if I'm able to.

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31 minutes ago, Bearcat-Doug said:

PayPal is supposed to begin allowing crypto purchases today. Dominos accepts PayPal, so maybe I'll buy a pizza with bitcoin for lunch to try it out.

How does the fee structure work nowadays?

Wasn't there some kind of sliding-scale on fees related to how quickly you wanted a transaction to take place?

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PayPal allowing crypto usage is definitely a big deal, but Bitcoin has stabilized so much that it only moved a few percentage points. I see 50k as the new floor now. I'm still buying a little bit every week and with every dip.

On an interesting side note, I invested $100 into eight different alt coins that each cost less than $0.10 a few weeks ago. Only one has gone down (Dogecoin) while the others have gone up as much as 170% (Bit Torrent Tokes). This is truly the wild west. I think there are still a lot of crypto millionaires to be made in the next 5-10 years.

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