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re: Official CryptoTalk Thread
Posted on 11/11/24 at 3:44 pm to Iowa Golfer
Posted on 11/11/24 at 3:44 pm to Iowa Golfer
I bet you're making tons of money though. You should probably check on your business.
I've made an order of magnitude more money since I retired from my corporate job early 6 years ago.
I didn't sleep election night either as I was too scared to go to sleep based on 2020, LOL. I'm still watching political news 24 x 7, but today I have been trying to decide on new mods for my boat. I was expecting a pullback during trading hours to open a volatility trade, but it never materialized which is perfectly okay.
I've made an order of magnitude more money since I retired from my corporate job early 6 years ago.
I didn't sleep election night either as I was too scared to go to sleep based on 2020, LOL. I'm still watching political news 24 x 7, but today I have been trying to decide on new mods for my boat. I was expecting a pullback during trading hours to open a volatility trade, but it never materialized which is perfectly okay.
This post was edited on 11/11/24 at 3:57 pm
Posted on 11/11/24 at 3:44 pm to beaverfever
quote:
I don’t like the idea of buying right now but part of me is “worried” this could more or less continue until 100k.
I mean if you're buying right now you're needing it to get 100k+ to make it worth it. Unless you're buying an entire coin. Not really worth buying just to hope for a 10% or so gain.
Posted on 11/11/24 at 3:56 pm to 98eagle
The last three elections have been profitable, and largely predictable. Things will settle down. Until then I’m going to trade. The issue is the way I’m doing it I really can’t be doing anything else. But you’re correct, it’s been worth it.
When Trump makes more cabinet announcements we’re going to get another BTC run. I’ve posted a bit, very little in the Politics forum.
There is another group that sometimes posts on here and we’re all in a private chat room. Some, not all of those guys are long BTC. I’m not sure how many are buy and hold, and how many wait patiently like I do, and then rip it.
The last two election days have been VIX and oil. Past the last Election Day there was an obviously short natural gas. Fundamentals and supply didn’t match up with the mediia’s sensational reporting about a natural gas shortage. This election, and I suspect past this election is long BTC. There have been some public statements for those paying attention. I also have some private statements. People get pissed and down vote me. I live in Iowa. Met Trumpp in either 2013 or 2014. I had previously met him briefly in Las Vegas and once in Florida. Anyway I was onboard early. Been backstage with him. His people called me about small business tax cuts .I'm just saying we have the most pro BTC POTUS we could get, and his economic people, to be announced, are also pro BTC.
When Trump makes more cabinet announcements we’re going to get another BTC run. I’ve posted a bit, very little in the Politics forum.
There is another group that sometimes posts on here and we’re all in a private chat room. Some, not all of those guys are long BTC. I’m not sure how many are buy and hold, and how many wait patiently like I do, and then rip it.
The last two election days have been VIX and oil. Past the last Election Day there was an obviously short natural gas. Fundamentals and supply didn’t match up with the mediia’s sensational reporting about a natural gas shortage. This election, and I suspect past this election is long BTC. There have been some public statements for those paying attention. I also have some private statements. People get pissed and down vote me. I live in Iowa. Met Trumpp in either 2013 or 2014. I had previously met him briefly in Las Vegas and once in Florida. Anyway I was onboard early. Been backstage with him. His people called me about small business tax cuts .I'm just saying we have the most pro BTC POTUS we could get, and his economic people, to be announced, are also pro BTC.
This post was edited on 11/11/24 at 3:58 pm
Posted on 11/11/24 at 4:11 pm to iwyLSUiwy
quote:Poor thought strategy. SP500 is at an all time high and a 10% or so gain is an insane 6600 level. Is buying the SP500 not really worth it right now? Which has the chance to outperform the other over a period of time?
I mean if you're buying right now you're needing it to get 100k+ to make it worth it. Unless you're buying an entire coin. Not really worth buying just to hope for a 10% or so gain.
You aren't buying bitcoin to "get rich quick". Those days may be over unless you go the leverage route. Bitcoin is also isn't as risky as the "get rich quick" days either. Slight tradeoff. You are buying bitcoin to outpace traditional investments IMO with the upside of nation states beginning to stack. Then everything is thrown out the window and your $10k investment could become significant.
This post was edited on 11/11/24 at 4:23 pm
Posted on 11/11/24 at 4:11 pm to Iowa Golfer
So where do alts go from here? Will some of this move over to alts, or is it mostly etf driven and alts wouldn't move much anytime soon?
Posted on 11/11/24 at 4:17 pm to Iowa Golfer
quote:
Met Trumpp in either 2013 or 2014. I had previously met him briefly in Las Vegas and once in Florida. Anyway I was onboard early. Been backstage with him. His people called me about small business tax cuts .I'm just saying we have the most pro BTC POTUS we could get, and his economic people, to be announced, are also pro BTC.
Wow! That's awesome! Having Trump's financial team reach out to you for your input and advice is really very impressive!
I used to work 50 to 60 hours a week and then spend most of my off time studying and making investments and trading. I had a high paying job but it was stressful and I made a lot more money from investments, trading and Bitcoin so that I could retire and get away work and start spending money and having fun. But I didn't want to study and trade all of the time, so I just decided to put all of my investments in Bitcoin and related ETFs, etc. and grow a cash stockpile.
The cash stockpile let's me sleep well at night, and Bitcoin and related ETFs, BITO and BITX are my growth buckets, plus my volatility trades, which take very little of my time. So I have no diversity and a way too conservative amount of cash. It drives Fidelity Planners and Brokers crazy. They contact me frequently wanting to manage my accounts and I tell them no thanks, but I can't take a pay cut letting them manage my accounts.
This post was edited on 11/11/24 at 4:32 pm
Posted on 11/11/24 at 4:31 pm to 98eagle
Yeah, I’m about done running around also.i still enjoy working, but not as much. I’ve pretty much made my own investments decisions, both good and bad. Mostly good fortunately.
The studying takes some time. The Election Day stuff I say is easy, and it is, but first I needed to put myself in a position to take advantage of it.
There has been no get rich easy with me. It’s taken some work.
Like yourself, financial advisors, bankers, economists, etc. are for others, not myself. I’m on the board of a bank now. Those guys are so short sighted. It just kills ne when loans make it to the loan committee and get quashed. They can’t pick a winner based on instinct. They pick winners, and losers, by a text book method. I taped them into taking a chance on two entrepreneurs. Those two loans I talked then I to are now two of the largest banking accounts in the entire holding company. They would have turned them down. No instinct at all.
The studying takes some time. The Election Day stuff I say is easy, and it is, but first I needed to put myself in a position to take advantage of it.
There has been no get rich easy with me. It’s taken some work.
Like yourself, financial advisors, bankers, economists, etc. are for others, not myself. I’m on the board of a bank now. Those guys are so short sighted. It just kills ne when loans make it to the loan committee and get quashed. They can’t pick a winner based on instinct. They pick winners, and losers, by a text book method. I taped them into taking a chance on two entrepreneurs. Those two loans I talked then I to are now two of the largest banking accounts in the entire holding company. They would have turned them down. No instinct at all.
Posted on 11/11/24 at 4:42 pm to Iowa Golfer
I can tell that you have an impressive resume and work history, so congrats on that! Hopefully your trading gets you to the point soon where you can retire and make even more money. If you stay heavily invested in Bitcoin and related investments, I bet you will get there soon. When you do, if you can do something like I do like just volatility trade Bitcoin based on price (which takes very little time) and take BITO dividends sometimes in cash, then you can enjoy having a lot of free time for friends, family and hobbies.
Posted on 11/11/24 at 4:52 pm to 98eagle
This rally refuses to go to bed.
Posted on 11/11/24 at 4:55 pm to 98eagle
When this election day trading ends I turn back into a buy, hold and rebalance guy. It gets like this once every four years for me. I have enough physical BTC, stocks, etc. that I'm going to be pretty happy some day soon.
If I'm not mistaken, BTC overtook silver today in market cap. That's significant. Not saying there still isn't a long way to go, but coming close to and surpassing some traditional asset classes is a big deal.
If I'm not mistaken, BTC overtook silver today in market cap. That's significant. Not saying there still isn't a long way to go, but coming close to and surpassing some traditional asset classes is a big deal.
Posted on 11/11/24 at 5:16 pm to beaverfever
quote:
This rally refuses to go to bed.
It's really been a nice day for owners of Bitcoin, crypto in general, the Spot ETFs, Ethereum, the miners and more!
I'm expecting a pullback and resuming of gains with volatility for at least several months. It's possible that the normal 4 year cycle is broken and Bitcoin keeps going up with no massive pullback phases going forward.
Posted on 11/11/24 at 5:17 pm to LordSaintly
If it keeps going I’m going to have my 2nd espresso and 3rd cigar and stay up all night killing it.
I will get crushed on my short BITX though.
Pisses me off, but it’s insurance premium so I need to get over it.
The great thing about BTC is that it trades 24/7. The bad thing about BTC is that it trades 24/7.
I will get crushed on my short BITX though.
Pisses me off, but it’s insurance premium so I need to get over it.
The great thing about BTC is that it trades 24/7. The bad thing about BTC is that it trades 24/7.
This post was edited on 11/11/24 at 5:19 pm
Posted on 11/11/24 at 5:20 pm to Iowa Golfer
quote:
$89K
Just when we think that Bitcoin has paused, IG keeps pushing the price up! I wonder if Asia will keep the price escalation going tonight.
Posted on 11/11/24 at 6:57 pm to Iowa Golfer
Oughta get some AI to do that for you
Posted on 11/11/24 at 7:06 pm to DownshiftAndFloorIt
I’m starting to wonder if we’re getting that sell off back to 83K anytime soon.
Posted on 11/11/24 at 8:01 pm to 98eagle
I am really wondering if it’s best to just hold in aggressive positions until this stops ripping up. I went all in on bitx/mstr on the Monday before the election based on probabilities on poly market. Have held since. Debating switching back to regular btc etfs tomorrow at the open or holding until we hit 100k
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