Bearcat-Doug | 5,104 Posted March 31, 2021 Share Posted March 31, 2021 (edited) 10 hours ago, DoctorEncore said: 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. It doesn't look like the PayPal crypto checkout is live for everyone yet. My page still says that it's "coming soon" and I read that they are rolling it out over the next few weeks. I'm wondering if it will remain fee free or if they will start charging eventually for crypto purchases. Edited March 31, 2021 by Bearcat-Doug Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,104 Posted April 2, 2021 Share Posted April 2, 2021 On 2/27/2021 at 1:00 PM, Hammerfestus said: Man, ethereum is way down. I’m buying some. It's back over $2000 this morning. Hope you made some money! Link to comment Share on other sites More sharing options...
Hammerfestus | 3,837 Posted April 2, 2021 Share Posted April 2, 2021 5 minutes ago, Bearcat-Doug said: It's back over $2000 this morning. Hope you made some money! 5 minutes ago, Bearcat-Doug said: It's back over $2000 this morning. Hope you made some money! Indeed. Got in at 1500 Link to comment Share on other sites More sharing options...
Californication | 1,477 Posted April 2, 2021 Share Posted April 2, 2021 I hope this BTC run holds through Monday. I went it on RIOT when it dipped yesterday. Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,104 Posted April 2, 2021 Share Posted April 2, 2021 9 minutes ago, Californication said: I hope this BTC run holds through Monday. I went it on RIOT when it dipped yesterday. It looks like it should be higher. Everytime it has gotten close to $60k the last few days the sell orders start building up. 1 Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,104 Posted April 2, 2021 Share Posted April 2, 2021 1 hour ago, Hammerfestus said: Indeed. Got in at 1500 Did you sell or are you still holding? Link to comment Share on other sites More sharing options...
Hammerfestus | 3,837 Posted April 2, 2021 Share Posted April 2, 2021 (edited) Still holding. Thinking about selling and buying back in next time it dips. even if it only ever gets back down to 1700 that’d be a win. Edited April 2, 2021 by Hammerfestus Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,104 Posted April 2, 2021 Share Posted April 2, 2021 Just now, Hammerfestus said: Still holding. Thinking about selling and buying back in next time it dips. I had considered doing that, but it seems like the tax from the sales would get pretty expensive. There must be a way to make it work or the day traders would be losing money. Link to comment Share on other sites More sharing options...
arch_8ngel | 1,597 Posted April 2, 2021 Share Posted April 2, 2021 1 hour ago, Bearcat-Doug said: I had considered doing that, but it seems like the tax from the sales would get pretty expensive. There must be a way to make it work or the day traders would be losing money. You are only taxed on gains. Just keep track of your cost basis accurately. Link to comment Share on other sites More sharing options...
Code Monkey | 2,006 Posted April 2, 2021 Share Posted April 2, 2021 I'm guaranteeing Bitcoin will be over $100,000 by the end of this year and some investors are speculating $250,000 by the end of next year. I have my main account with my girlfriend but I started a personal trading account this week and put $5000 into it to try my own trading. A lot of these are going up around 2-5% per day so if you diversify, you should be able to easily increase by 5% per week. That'll get me a total of $250 for this week but at the end of 52 weeks, it'll be $57,000. At the end of 2 years it'll be $800,000. Link to comment Share on other sites More sharing options...
Californication | 1,477 Posted April 2, 2021 Share Posted April 2, 2021 13 minutes ago, Code Monkey said: I'm guaranteeing Bitcoin will be over $100,000 by the end of this year and some investors are speculating $250,000 by the end of next year. I have my main account with my girlfriend but I started a personal trading account this week and put $5000 into it to try my own trading. A lot of these are going up around 2-5% per day so if you diversify, you should be able to easily increase by 5% per week. That'll get me a total of $250 for this week but at the end of 52 weeks, it'll be $57,000. At the end of 2 years it'll be $800,000. There are no guarantee's in life and definetly not in investing. 1 Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,104 Posted April 2, 2021 Share Posted April 2, 2021 35 minutes ago, Code Monkey said: I'm guaranteeing Bitcoin will be over $100,000 by the end of this year and some investors are speculating $250,000 by the end of next year. I have my main account with my girlfriend but I started a personal trading account this week and put $5000 into it to try my own trading. A lot of these are going up around 2-5% per day so if you diversify, you should be able to easily increase by 5% per week. That'll get me a total of $250 for this week but at the end of 52 weeks, it'll be $57,000. At the end of 2 years it'll be $800,000. I think it will likely hit $100,000 by the end of the year as well. Just a few more large institutional buys should get it there. Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,104 Posted April 2, 2021 Share Posted April 2, 2021 2 hours ago, arch_8ngel said: You are only taxed on gains. Just keep track of your cost basis accurately. I got most of mine < $15k, so the taxes would get me pretty good if I sold a large amount. Link to comment Share on other sites More sharing options...
arch_8ngel | 1,597 Posted April 2, 2021 Share Posted April 2, 2021 (edited) 3 hours ago, Code Monkey said: I'm guaranteeing Bitcoin will be over $100,000 by the end of this year and some investors are speculating $250,000 by the end of next year. I have my main account with my girlfriend but I started a personal trading account this week and put $5000 into it to try my own trading. A lot of these are going up around 2-5% per day so if you diversify, you should be able to easily increase by 5% per week. That'll get me a total of $250 for this week but at the end of 52 weeks, it'll be $57,000. At the end of 2 years it'll be $800,000. 5% per week is almost 1200% per year. If you're counting on that kind of rate of return you're going to have a bad time. EDIT: to try another way to show how ridiculous a sustained rate of return that would be -- an initial investment of $10k would become $22MM after only 3 years, would be $286MM after 4 years, would be $3.7B after 5 years, and sometime during year 8 you would become a trillionaire. Edited April 2, 2021 by arch_8ngel Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,104 Posted April 2, 2021 Share Posted April 2, 2021 44 minutes ago, arch_8ngel said: 5% per week is almost 1200% per year. If you're counting on that kind of rate of return you're going to have a bad time. EDIT: to try another way to show how ridiculous a sustained rate of return that would be -- an initial investment of $10k would become $22MM after only 3 years, would be $286MM after 4 years, would be $3.7B after 5 years, and sometime during year 8 you would become a trillionaire. I'd be happy if one bitcoin is worth a million dollars in 8 years. Link to comment Share on other sites More sharing options...
arch_8ngel | 1,597 Posted April 2, 2021 Share Posted April 2, 2021 39 minutes ago, Bearcat-Doug said: I'd be happy if one bitcoin is worth a million dollars in 8 years. Since that would represent a sustained 25% annual rate of return (rivals the best decade-long rates of return of the best fund managers of all time) -- I would sure as hell HOPE you'd be happy! Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,104 Posted April 3, 2021 Share Posted April 3, 2021 1 hour ago, arch_8ngel said: Since that would represent a sustained 25% annual rate of return (rivals the best decade-long rates of return of the best fund managers of all time) -- I would sure as hell HOPE you'd be happy! One million dollars in 8 years does sound kinda bearish when you put it like that! Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,104 Posted April 3, 2021 Share Posted April 3, 2021 Link to comment Share on other sites More sharing options...
Hammerfestus | 3,837 Posted April 3, 2021 Share Posted April 3, 2021 I don’t know. This opinion is based on nothing but this whole thing sure does seem like one of those things where everyone’s predicting and dopes like me go I want some of that then the whole thing comes crashing down in short order. 1 Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,104 Posted April 3, 2021 Share Posted April 3, 2021 1 hour ago, Hammerfestus said: I don’t know. This opinion is based on nothing but this whole thing sure does seem like one of those things where everyone’s predicting and dopes like me go I want some of that then the whole thing comes crashing down in short order. I try not to overthink it too much. Common sense would tell me to cash out while I'm ahead, but I'm still hoping that there's enough long term potential to justify sticking with it and staying all in. Link to comment Share on other sites More sharing options...
Code Monkey | 2,006 Posted April 3, 2021 Share Posted April 3, 2021 Guys, buying almost anything right now is a sure win. Even just buying $100 of something, it's all shooting up. You're going to wish you got in at this price by the end of summer. Link to comment Share on other sites More sharing options...
MiamiSlice | 3,091 Posted April 3, 2021 Share Posted April 3, 2021 Buy some REN then, I’m getting tired of waiting for it to go up again Link to comment Share on other sites More sharing options...
DoctorEncore | 3,691 Posted April 3, 2021 Share Posted April 3, 2021 (edited) @Code Monkey, I'd temper your expectations a little bit. These are not all going to keep going up forever. For right now, as Bitcoin goes, so does the tide. That will change at some point though. If you have a grand lying around, buying $100 of each of the smallest alt coins isn't the worst idea in the world. In fact, I did that exact thing for the coins on Voyager about three weeks ago (I put an extra $100 in BTT after it started running). You just have to be okay with the fact that these coins are more likely to become worthless than to make you any significant money in the long run. My plan is just to hold them forever and see what happens. Here are my returns so far. Edited April 3, 2021 by DoctorEncore Link to comment Share on other sites More sharing options...
Code Monkey | 2,006 Posted April 4, 2021 Share Posted April 4, 2021 Literally every single coin except 2 is up right now. It was nearly impossible to lose money today. One I bought this morning is up 20%. Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,104 Posted April 7, 2021 Share Posted April 7, 2021 Looks like a rough morning across the board, but I haven't seen any specific reason. Link to comment Share on other sites More sharing options...
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