Bitcoin and Crypto Thread

[jayco]

I don’t have a crystal ball but from a probability standpoint there is a good chance that the current price is somewhere near the lows. You might want to consider starting to buy now and dollar cost averaging on the way down. Not financial advice of course.

Yes, I think it's a good idea. Big downcycle should be somewhere ahead based on historical cyclical behavior but this might be just a short puke and shake down. I don't see solid justification for the downcycle yet, other than simply assumping it is due based on timing alone and around 4 year cyclicity

 

[jayco]

This is excellent question. Let me answer, since you had mentioned "the world". As in entire world. I like the idea of "the world" because no country owns me, I do not want to be a slave to any ruler, oligarch or system.
Very soon I will not be able to own US stocks even though I'm a US citizen liable to pay US taxes from anywhere in the world. Both US regulations and practices and regulations of the country I will be moving will prevent me from doing so.

Moreover, you can not "own" any US stocks these days, really. They are held by the broker in the street name plus the broker fully controls your access to "your" stocks. Any moment you will lose it for "security reasons" undisclosed to you.
So for me, all the US stocks in S&P are worth...absolutely nothing to not much. I'm not alone, I can assure you. There are billions of people with similar situations.

As to owning all bitcoin in the world - yes it would be worth nothing, but bitcoin is a shared project, for the people, to avoid artificial, oppressive barriers by the zionist financial system and avoid fiat currency debasement, this is why many people own bitcoin which gives it value.
United States and its stocks is not the world. There are a lot more things of value in the world than all these companies selling things I don't need, their exponential growth scam has no value to me.

And to expand on my answer, so lets imagine someone did own all S&P stocks, or, lets say 5 people owned all these stocks. This would still not make them own the world ...because guilliotines would follow pretty fast and they would not even own their heads anymore, much less some "equity".
More accurate comparison would be: what if someone had come to own all gold in the world. Would it make gold lose value? I don't think so (but gulliotines would still get involved), and unlike gold, which can be confiscated, it's pretty hard to confiscate bitcoin but still doable with some torture methods so all these scenarios are hypothetical

 

[jayco]

I sold all of my bitcoin and most of my eth in early 2024 to buy alt coins. Huge mistake.

The only coin that I have that is holding up is bittensor Tao, and maybe sui(I’m about even on sui, haven’t gain or lost anything from where I bought). The rest of the coins I bought are all down 90% or more. Most aren’t going to survive.

Just buy Bitcoin and stocks on the s & p 500, hold them long term. So long as you are going to be holding at least a few years you will come out ahead. Try to buy dips obviously .

I’d avoid the crypto space if you were thinking of buying now(bitcoin, eth, and a few others like xrp and xlm, hopefully Tao should be good long term, ). I lost big time on “safety pick” coins like Kas, Tet, aitech, alph, mintlayer, and others. There’s nothing safe about crypto.

I guess Kas as the project is still going, it could come back but not looking good right now.

Look at it this way, Bitcoin really is a hedge against inflation.

I still talk to cynllo, the member that helped start Christ is king website, he sold all his coins yesterday, he held onto Tao and one or two others, he had invested a lot more than I did, unfortunately he, like everyone else lost a lot as well. There is still some hope for Tao I guess but I mean, much better to be a Bitcoin maxi and just buy and hold. Or buy the ETFs if you’re unsure.

TLDR avoid alt coins, there’s too many coins and too much trash. Buy bitcoin and hold long term and you’re fine. Or buy stocks.

Been there done that back in...2018 or somewhere around, but I had soured on crypto alltogether back then, silly mistake.