BLNR or Bitcoin?

[r_afficionado]

I will take BLNR at MSRP. As a matter of fact that is exactly what my wife did for me last Christmas.

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[Doc Savage]

Originally Posted by Atone

don't have an exact percentage in mind but a parabolic move up 3x in so many months is not organic, sustainable growth IMO.

These terms are obsolete when discussing bitcoin price.

I'm not saying it won't have a pullback now and then. But people keep trying to force traditional stock technical analysis on Bitcoin pricing, and it is pointless to do so.

[Mifune]

I'm buying another BTC this week... watches will always be there later.

[shaunylw]

Originally Posted by huncho

i agree, every time it goes straight up it makes me anxious so drops like today are welcomed

I wouldn’t mind a 50% drop over the next few months. Right now it’s out of control. I want to get in but would prefer to get in on a big dip.


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[Atone]

Originally Posted by huncho

i agree, every time it goes straight up it makes me anxious so drops like today are welcomed

It’s still so early for crypto that all of these “institutional buyers” have me scratching my head. I mean, if you dump $2.5B into something that has such high volatility and can EASILY drop 50% in a day and sit there for years, I just don’t get how that makes sense to risk losing so much liquidity. I think this stays highly manipulated until it sees real mass adoption.

[huncho]

Originally Posted by shaunylw

I wouldn’t mind a 50% drop over the next few months. Right now it’s out of control. I want to get in but would prefer to get in on a big dip.


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would you get in if it dropped to 15k? a lot of people wait for huge dips but are too afraid to get in when and if it does happen. if it drops 50% people will start to think its gonna crash like it did in 2018

[RBradleigh]

Originally Posted by huncho

would you get in if it dropped to 15k? a lot of people wait for huge dips but are too afraid to get in when and if it does happen. if it drops 50% people will start to think its gonna crash like it did in 2018

Great comment and have never thought about it this way. Human psychology yeah, a 50% dip would scare the bejezus out of most people scared to 1st get in.

Well here’s more psychology, FOMO. If you don’t get in now well it may be too late once it hits 50k+

Tough

[huncho]

Originally Posted by RBradleigh

Great comment and have never thought about it this way. Human psychology yeah, a 50% dip would scare the bejezus out of most people scared to 1st get in.

Well here’s more psychology, FOMO. If you don’t get in now well it may be too late once it hits 50k+

Tough

yeah its tough on both sides, best thing to do is just dollar cost average and strap in for the ride lol

[shaunylw]

Originally Posted by huncho

would you get in if it dropped to 15k? a lot of people wait for huge dips but are too afraid to get in when and if it does happen. if it drops 50% people will start to think its gonna crash like it did in 2018

Ya that makes total sense. I want to get in when it’s not at is all time high, which seems like a daily occurrence at this point.


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[gnuyork]

Originally Posted by shaunylw

Ya that makes total sense. I want to get in when it’s not at is all time high, which seems like a daily occurrence at this point.


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Yes, I'm waiting for an entry... It may not come, in the meantime, trying to read up on Crypto and strategies.

[AgentRob]

At this point you should be DCA into BTC and ETH. Crypto is the future!

[Atone]

Originally Posted by gnuyork

Yes, I'm waiting for an entry... It may not come, in the meantime, trying to read up on Crypto and strategies.

If you are a true believer in total mass adoption, these current prices will be irrelevant. I’m still on the fence so I take profits and leave some for the “long haul”.

[onefishtaco]

I thought I'd vote BLNR, but if you already have other watches and want the adrenaline rush go for BTC ... also faster to get in/out of. You might also make enough to cover the price of a BLNR if things go well... however if you're risk adverse and would miss the funds definitely get the watch instead!

[Atone]

Originally Posted by Doc Savage

These terms are obsolete when discussing bitcoin price.

I'm not saying it won't have a pullback now and then. But people keep trying to force traditional stock technical analysis on Bitcoin pricing, and it is pointless to do so.

If you say so. I think smarter folks than me are way more invested and want to protect those assets. There will be a top blow off and huge, coordinated sells. Not about comparing stock and BTC - simply the ravage volatility of something like crypto. Most of the money that will be lost will be by speculators lured into a false sense of security by market manipulators. But I’m wrong a lot. We’ll circle back in a few years. I’ve got some skin in the game so I hope I am wrong here. Rather eat crow than lose $$

[Saltzy]

Ho Hum.

Just another 9% day for GBTC.

[Etschell]

Originally Posted by Atone

It’s still so early for crypto that all of these “institutional buyers” have me scratching my head. I mean, if you dump $2.5B into something that has such high volatility and can EASILY drop 50% in a day and sit there for years, I just don’t get how that makes sense to risk losing so much liquidity. I think this stays highly manipulated until it sees real mass adoption.

more bitcoin is being bought per day than produced per day. each halving event reduces that as well. we just had a 21 percent drop and it has nearly recovered.

perhaps the old 50% drop days are over as volatility is decreasing over time. prior to 2018 no big institutional buyers owned bitcoin. as an asset matures and the capitalization increases the volatility is less. gold as a store of value can move tremendously in either up or down directions.

dollar debasement is 15% per year at the current clip rate. if companies dont need the excess working capital it makes sense to lock it up in bitcoin cold storage. bitcoin's thesis isnt to be a monetary system to pay for things. it is to be a store of value on a monetary network that is decentralized. if you want to pay for things you use fiat currency or maybe tether.

skybridge capital just opened a bitcoin fund. it is 300 million and will be fully subscribed quickly. i can assure you that other funds are coming. financially versed companies like PayPal, MassMutual or MicroStrategy are invested in bitcoin.

your argument of manipulation is laughable. every asset class is manipulated if you want to wear a tinfoil hat around. the reason bitcoin is volatile is the amount trading is 1/3rd of the actual coins outstanding. 1/3rd have been lost and 1/3rd are locked up in cold storage. this is no different than how a low float stock moves. of course even a major asset class can fall 30-40% as we have seen within this last year.

[Atone]

Originally Posted by Etschell

your argument of manipulation is laughable. every asset class is manipulated if you want to wear a tinfoil hat around.

no need to be rude man. we're just talking ideas here.

[Etschell]

Originally Posted by Atone

no need to be rude man. we're just talking ideas here.

it was not meant to be rude. many times i hear the argument from retail buyers that something is manipulated just because it is the easy out as to why things arent going how they think it should be.

i apologize i meant no shot at you just more of a general comment about the term manipulation.

[Atone]

Originally Posted by Etschell

it was not meant to be rude. many times i hear the argument from retail buyers that something is manipulated just because it is the easy out as to why things arent going how they think it should be.

i apologize i meant no shot at you just more of a general comment about the term manipulation.

[Atone]

Originally Posted by Etschell

it was not meant to be rude. many times i hear the argument from retail buyers that something is manipulated just because it is the easy out as to why things arent going how they think it should be.

i apologize i meant no shot at you just more of a general comment about the term manipulation.

on this point, i have holds that have enjoyed 3-8x gains. HOWEVER, having seen the previous bloodshed, it's hard not to think "man i can wake up to a bloodbath any day now". ANY smaller investor in crypto who survived 2018 who says they don't have that pit in their stomach is lying, LOL

[pickettt]

Originally Posted by Atone

If you are a true believer in total mass adoption, these current prices will be irrelevant. I’m still on the fence so I take profits and leave some for the “long haul”.

That’s where I’m at.

[Etschell]

Originally Posted by pickettt

That’s where I’m at.

this is a decent read. of course it is marketing.

https://www.skybridgebitcoin.com/documents/overview-pdf

[Saltzy]

Originally Posted by saltzy

ho hum.

Just another 9% day for gbtc.

12%

[TC94]

Originally Posted by Atone

on this point, i have holds that have enjoyed 3-8x gains. HOWEVER, having seen the previous bloodshed, it's hard not to think "man i can wake up to a bloodbath any day now". ANY smaller investor in crypto who survived 2018 who says they don't have that pit in their stomach is lying, LOL

Yep. And that’s where I sit as well. Nothing wrong with taking incremental gains out using a tiered approach. If it continues up, you locked in some gains and you’re still participating. If it drops, you can rebuy.

Managing risk and taking gains are just sound principles.

[huncho]

Originally Posted by Atone

on this point, i have holds that have enjoyed 3-8x gains. HOWEVER, having seen the previous bloodshed, it's hard not to think "man i can wake up to a bloodbath any day now". ANY smaller investor in crypto who survived 2018 who says they don't have that pit in their stomach is lying, LOL

very true but at the end of the day its still overall up, took 2 years to recover the crash but it happened, and it wasn't the first or second time

[Madman37]

Rolex will fail and go down, it can’t stay forever like this and they aren’t assets.

Nor is Bitcoin a real asset but it started of at 1 dollar now 30k dollars. JP Morgan reckon it will hit 140k dollars

[gnuyork]

Originally Posted by Madman37

Rolex will fail and go down, it can’t stay forever like this and they aren’t assets.

Nor is Bitcoin a real asset but it started of at 1 dollar now 30k dollars. JP Morgan reckon it will hit 140k dollars

I read that it started trading at $0.0008. Imagine that?

Imagine buying 1000 shares for 8¢ and just forgetting about it.

[Madman37]

Originally Posted by gnuyork

I read that it started trading at $0.0008. Imagine that?

Imagine buying 1000 shares for 8¢ and just forgetting about it.

There you go even better forget Rolex. The BLNR will never hit 24k or the Daytona 45k

[huncho]

Originally Posted by gnuyork

I read that it started trading at $0.0008. Imagine that?

Imagine buying 1000 shares for 8¢ and just forgetting about it.

imagine being the kids buying pizzas for 20 btc back in the day lol

[Atone]

Originally Posted by huncho

imagine being the kids buying pizzas for 20 btc back in the day lol

I’d have already jumped off a roof