Bitcoin / Cryptocurrency Discussion (And Predictions)

[EvanOkanagan]

BTC preparing for launch on mission to the moon after Blackrock spot ETF approval this week. LFG!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Jon822]

more than last year and less than next year!!

Wow, it's that low, eh? So what exactly is going to happen in 24 months from Nov 2023?

 

[NewManRising]

What is your net profit?

Have you made any money are you just skimming the thread hoping to find the next hot coin? A lot of us in this thread have made money. Might as well leave the thread if you have no value to offer. Your bitterness and envy oozes through your posts.

 

[Jon822]

Have you made any money are you just skimming the thread hoping to find the next hot coin? A lot of us in this thread have made money. Might as well leave the thread if you have no value to offer. Your bitterness and envy oozes through your posts.

I posted a lighthearted GIF meant to be funny. Asking someone about net profit when they make a snide remark about "others getting richer and richer" is not bitterness. It's a very simple and logical response.

Envious of what? Should I ask my bank how much "more than last year and less than next year" is worth? If all the money you make from investments is so low that you're too embarrassed to talk about it in a thread about investments, then maybe it's time to consider alternatives. The only bitterness in this thread is coming from people who get upset over a harmless joke (because their entire future depends on a crap-shoot) and people who realized too late that crypto investing is only fun if you can afford to lose all of it and have it not matter.

I genuinely hope you all make money from your investments, but lighten up and diversify.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[msufan]

It feels to me like an investment portfolio nowadays should include 10%ish of crypto as well as real-world assets (e.g. real estate). Stocks/bonds/$$$ (for US citizens) all seem to be relying on the US avoiding a black swan event, and with our debt soaring, I'm not sure that's a great bet anymore.

 

[Mr. Tycoon]

an investment portfolio nowadays should include 10%ish of crypto

god forbid, on 10% crypto/scam portfolio.

BTC yes go to up 90%

 

[msufan]

god forbid, on 10% crypto/scam portfolio.

BTC yes go to up 90%

yes -- agreed -- I meant primarily Bitcoin and not the latest NFT project or altcoin

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Antifragile]

We’ll see this coming week what happens. Will it be approved? Denied? Will anyone care?

Over the 2024, I’ve said it before I expect there to be a pump. The question really is “When?”.

For example, it’s hard to imagine all these EFT listing big Wall Street firms driving up prices against each other. They are clever and always find ways to get what they need to make a commission. We can’t see it because we aren’t inside those shops. But did they front-run it?

Regardless, 2024 should be a BTC year, with alts following as is typical. But what do I know? If you ever choose to listen to the internet strangers for your “investments”, you deserve the pain you will feel from dumb choices.

 

[Timmy C]

We’ll see this coming week what happens. Will it be approved? Denied? Will anyone care?

Over the 2024, I’ve said it before I expect there to be a pump. The question really is “When?”.

For example, it’s hard to imagine all these EFT listing big Wall Street firms driving up prices against each other. They are clever and always find ways to get what they need to make a commission. We can’t see it because we aren’t inside those shops. But did they front-run it?

Regardless, 2024 should be a BTC year, with alts following as is typical. But what do I know? If you ever choose to listen to the internet strangers for your “investments”, you deserve the pain you will feel from dumb choices.

I trust you, I will put all of it on bitcorn.

 

[MJ DeMarco]

Looks like the ETF was approved, we're all gonna be rich!!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Jon822]

Anyone who is not taking out massive loans or robbing banks to invest in crypto doesn't have what it takes to drive in the Fastlane. To the moon!

In all seriousness, this will be very interesting to observe.

 

[EmotionEngine]

Anyone who is not taking out massive loans or robbing banks to invest in crypto doesn't have what it takes to drive in the Fastlane. To the moon!

In all seriousness, this will be very interesting to observe.

For sure. As fast as "number go up", the number is going down.

 

[EvanOkanagan]

Trading starts tomorrow!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Antifragile]

The drama around this approval was insane.

Yesterday $50MM got REKT on a Tweet from
The SEC that turned out to be “compromised account” as they didn’t even have F2A turned on for security. Let that sink in. Clown world.

Big boys are coming to the party tomorrow…

enjoy the ride.

 

[msufan]

The drama around this approval was insane.

Yesterday $50MM got REKT on a Tweet from
The SEC that turned out to be “compromised account” as they didn’t even have F2A turned on for security. Let that sink in. Clown world.

Big boys are coming to the party tomorrow…

enjoy the ride.

So if I wanted to dump $100K into Bitcoin, is the best way something like Coinbase? An ETF? Actually get a Ledger and hold my own coins??

 

[Antifragile]

So if I wanted to dump $100K into Bitcoin, is the best way something like Coinbase? An ETF? Actually get a Ledger and hold my own coins??

ETF sucks. I wouldn’t touch it.

There is only one way to own BTC - self custody in a hardware wallet. Nothing else.

Regardless of how much BTC you buy/own.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[msufan]

ETF sucks. I wouldn’t touch it.

There is only one way to own BTC - self custody in a hardware wallet. Nothing else.

Regardless of how much BTC you buy/own.

I was afraid you'd say that. If and when that's no longer the case, Bitcoin will explode.

 

[Aidan04]

What the hell happened to BTC being used as an actual currency to buy things? What the F*ck are we doing? Why is it a speculative asset people are investing in?

Wasn't Satoshi's whole idea to have a currency that was decentralized, efficient, peer-to-peer, and allowed the people to have real control over their money without banks getting in the way?

What happened to that? Why is this revolutionary technology now a sketchy-a$$ Ponzi scheme?

Don't give me that shit and act like it's still a real currency. It's not. It's day-trading and gambling. It's way too volatile.

Can someone fix crypto? Maybe develop a protocol that lets us use it for its intended purpose?

 

[Antifragile]

Let's dive into the world of Bitcoin, shall we?

Bitcoin is a decentralized digital currency, which means it's not controlled by any government or financial institution. It was created in 2008 by an unknown person or group using the name Satoshi Nakamoto. The idea behind Bitcoin was to create a peer-to-peer electronic cash system that allows online payments to be sent directly from one party to another without going through a financial institution.

By this standard it works great. Have you tried to wire $15k on Friday at 9pm through traditional banking?

Now, why does it have such high value? Well, it's all about supply and demand. There are a limited number of Bitcoins that can ever be created (21 million to be exact), and as more people want to own them, the price goes up. It's like a digital version of gold, but without the shiny bits.

Is it a scam? Well, that depends on who you ask. Some people believe it's the future of money, while others think it's a bubble waiting to burst. The truth is probably somewhere in between. Bitcoin has been around for over a decade now, and it's still going strong, so it's not a scam in the traditional sense.

As for volatility, yes, Bitcoin can be quite the rollercoaster ride. Its value can fluctuate wildly, and that's not for the faint of heart. But it's important to remember that the value of any currency can change over time.

Finally, utility. Bitcoin has some utility as a means of payment, but it's not as widely accepted as traditional currencies. However, its technology (the blockchain) has the potential to revolutionize the way we do business.

In summary: Bitcoin is a digital currency with a limited supply, high demand, and a rollercoaster of a value. It may or may not be a scam, depending on your perspective, and it has some utility, but it's not for everyone.

Clear as mud.

Good luck.

Edit:

Fun read for you all: The Bitcoin ETF is the spiritual reversal of Executive Order 6102

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Aidan04]

Let's dive into the world of Bitcoin, shall we?

Bitcoin is a decentralized digital currency, which means it's not controlled by any government or financial institution. It was created in 2008 by an unknown person or group using the name Satoshi Nakamoto. The idea behind Bitcoin was to create a peer-to-peer electronic cash system that allows online payments to be sent directly from one party to another without going through a financial institution.

By this standard it works great. Have you tried to wire $15k on Friday at 9pm through traditional banking?

Now, why does it have such high value? Well, it's all about supply and demand. There are a limited number of Bitcoins that can ever be created (21 million to be exact), and as more people want to own them, the price goes up. It's like a digital version of gold, but without the shiny bits.

Is it a scam? Well, that depends on who you ask. Some people believe it's the future of money, while others think it's a bubble waiting to burst. The truth is probably somewhere in between. Bitcoin has been around for over a decade now, and it's still going strong, so it's not a scam in the traditional sense.

As for volatility, yes, Bitcoin can be quite the rollercoaster ride. Its value can fluctuate wildly, and that's not for the faint of heart. But it's important to remember that the value of any currency can change over time.

Finally, utility. Bitcoin has some utility as a means of payment, but it's not as widely accepted as traditional currencies. However, its technology (the blockchain) has the potential to revolutionize the way we do business.

In summary: Bitcoin is a digital currency with a limited supply, high demand, and a rollercoaster of a value. It may or may not be a scam, depending on your perspective, and it has some utility, but it's not for everyone.

Clear as mud.

Good luck.

Edit:

Fun read for you all: The Bitcoin ETF is the spiritual reversal of Executive Order 6102

Been looking into this, and I think an algorithmic stablecoin may be the answer. Essentially the algorithm runs on the blockchain software and regulates the currency based on supply and demand. It doesn't need to be backed by anything either.

It's kind of like a digital federal reserve of sorts.

This could potentially create a coin that you could use to buy groceries or pay the bills.

 

[MitchC]

Been looking into this, and I think an algorithmic stablecoin may be the answer. Essentially the algorithm runs on the blockchain software and regulates the currency based on supply and demand. It doesn't need to be backed by anything either.

It's kind of like a digital federal reserve of sorts.

This could potentially create a coin that you could use to buy groceries or pay the bills.

I think it’s better compared to gold

Somewhere to stick your money other than fiat

Without the hassle of owning physical gold

 

[NewManRising]

I was afraid you'd say that. If and when that's no longer the case, Bitcoin will explode.

I second his comment. It's just like precious metals, you want to have the physical metal in your possession.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[NewManRising]

What the hell happened to BTC being used as an actual currency to buy things? What the F*ck are we doing? Why is it a speculative asset people are investing in?

Wasn't Satoshi's whole idea to have a currency that was decentralized, efficient, peer-to-peer, and allowed the people to have real control over their money without banks getting in the way?

What happened to that? Why is this revolutionary technology now a sketchy-a$$ Ponzi scheme?

Don't give me that shit and act like it's still a real currency. It's not. It's day-trading and gambling. It's way too volatile.

Can someone fix crypto? Maybe develop a protocol that lets us use it for its intended purpose?

Some countries use it as currency. There are some stores that accept BTC and crypto too. I think when SHTF, like the dollar disappearing, people will be using it more as payment. Just a guess. IMO, it is good to have a little crypto.

Educate yourself though. Don't get caught up in all these stupid coins (like meme coins). Ignore all the noise on social media where they shill these coins. Make your own informed decisions based on your own knowledge and research (as you should with any investment).

 

[NewManRising]

So if I wanted to dump $100K into Bitcoin, is the best way something like Coinbase? An ETF? Actually get a Ledger and hold my own coins??

Always have your coins in your own wallet. Exchanges, even ones like Coinbase, are always sketchy. They can get hacked, they can control your coins and won't let you make transfers or sells in order to control liquidity, and so on. When you have it on the exchange, it's basically in the exchange's wallet. They just assign you an amount, but they can control it during times.

Awhile back when I was moving large amounts of coins to my Ledger they were trying to control my withdrawals and stopping me from pulling the full amount. Making me wait a certain amount of days, etc.

 

[Timmy C]

Looks like the ETF was approved, we're all gonna be rich!!

I can finally get that second hand 1999 Toyota Camry ive always wanted.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Timmy C]

I think it’s better compared to gold

Somewhere to stick your money other than fiat

Without the hassle of owning physical gold

The portability of crypto assets is unmatched.

 

[MitchC]

The portability of crypto assets is unmatched.

Yes and you can send someone $1

Much easier than shaving .1g off a bullion bar

I do like my physical gold and silver though, looks a lot cooler than numbers on a screen, and it’s a hedge against bitcoins 1 big risk, someone coming in and taking us back to real gold backed money

 

[Antifragile]

Remember folks, always keep your crypto safe in a hardware wallet!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Timmy C]

Remember folks, always keep your crypto safe in a hardware wallet!

View attachment 53607

I couldn't think of a safer place to put it.

 

[NewManRising]

I couldn't think of a safer place to put it.

View attachment 53616

The ones who got hacked was due to human error/stupidity. They clicked links that were not safe. It's just like how all exchanges and web wallets tell you they never ask for your private key or password.