BITCOIN

noitsnotme

I have some holdings (BTC/ETH/LTC) from 2017 that are currently overall at around 10x the amount I originally invested.  It’s not an insignificant value but not enough to be “life changing”.  I could have done better if I’d sold at the previous peaks and repurchased later but I was always nervous about selling and missing out on further gains.  I could afford to lose it all if prices go to zero so have always felt more comfortable just taking a risk and letting it ride.  I probably should have a better exit strategy than my current “let’s see how things go” mentality!

Anyway, thought I’d join the discussion and come along for the ride.

Malthusian

RichTips said:

I'd be curious to learn if/how the throughts and opinions of @Malthusian have evolved, especially as he responded to my first comment on the subject way back in mid-2020 and is still active.

Punters' money in == punters' money out.

The only thing that has evolved is my admiration for the doggedness of crypto bros who are still ploughing their lonely furrow, despite the failure of every "Bitcoin to $400,000" prediction made back at the start of this thread, the losses made on all those "risk-free 10%pa returns", and the continuing no-show of their instant riches.

Scottex99

See you at $400,000.01 mate.

2 halvings from now I’ll be sure to pop up haha

Scottex99

silvercue said:

Scottex99 said:

Yeah I've got a few longs open from the mid 40s range and 2.5 range on ETH.

But I don't often sit and trade. Just DCA and BTD when it retraces a decent amount. Picked up some around 62k yesterday as we'll be retesting 70k soon enough imo.

Putting some decent thought into the exit points over 2024 as well, just an important as taking the plunge.

I've been caught bagholding in previous cycles and want to avoid that this time round

Yes, I am guilty of not selling when I should.  I will have a better plan this time.  I have open ETH position from under £600 and BTC from £7k.

Largest holding is ADA though.

Very nice, open as in spot holdings? Surely you haven't paid the funding rate on them for years if not?

What's the conviction on ADA? ETH 2.0?

silvercue

Scottex99 said:

silvercue said:

Scottex99 said:

Yeah I've got a few longs open from the mid 40s range and 2.5 range on ETH.

But I don't often sit and trade. Just DCA and BTD when it retraces a decent amount. Picked up some around 62k yesterday as we'll be retesting 70k soon enough imo.

Putting some decent thought into the exit points over 2024 as well, just an important as taking the plunge.

I've been caught bagholding in previous cycles and want to avoid that this time round

Yes, I am guilty of not selling when I should.  I will have a better plan this time.  I have open ETH position from under £600 and BTC from £7k.

Largest holding is ADA though.

Very nice, open as in spot holdings? Surely you haven't paid the funding rate on them for years if not?

What's conviction on ADA? ETH 2.0?

Yes, BTC and ETH held in my wallets.  No costs.  

I like ADA and Cardano in general as it is the most decentralised, secure (no downtime ever, no breaches, hacks etc) and reliable.   It also has a blossoming Defi world where I make APRs of 20-50% for doing very little and liquid staking, where I never lose control or ownership of my assets and still get rewards.    It is also very cheap to do anything on the network.  The downside to all of that is it can be slower to develop on and won't simply allow some of the less secure terms from USDC etc.   

But I will leave it there as this is a BTC thread not a general crypto one.  

Scottex99

noitsnotme said:

I have some holdings (BTC/ETH/LTC) from 2017 that are currently overall at around 10x the amount I originally invested.  It’s not an insignificant value but not enough to be “life changing”.  I could have done better if I’d sold at the previous peaks and repurchased later but I was always nervous about selling and missing out on further gains.  I could afford to lose it all if prices go to zero so have always felt more comfortable just taking a risk and letting it ride.  I probably should have a better exit strategy than my current “let’s see how things go” mentality!

Anyway, thought I’d join the discussion and come along for the ride.

Welcome! Absolute classic behaviour.

I've done this since 2017 too. I've got a gambling streak so was always way more concerned with selling early and watching it rocket than taking a nice chunk out as a reward.

I don't include crypto in my net worth -  not really  and it wouldn't ruin my life it all went to 0 tomorrow.

But this cycle i'm getting prepped, dare I say it, it looks easier to predict. You wont catch the top but once things start to overheat post halving it's time to start taking some profits. You can always leave some bags for the long term too

noitsnotme

Scottex99 said:

noitsnotme said:

I have some holdings (BTC/ETH/LTC) from 2017 that are currently overall at around 10x the amount I originally invested.  It’s not an insignificant value but not enough to be “life changing”.  I could have done better if I’d sold at the previous peaks and repurchased later but I was always nervous about selling and missing out on further gains.  I could afford to lose it all if prices go to zero so have always felt more comfortable just taking a risk and letting it ride.  I probably should have a better exit strategy than my current “let’s see how things go” mentality!

Anyway, thought I’d join the discussion and come along for the ride.

Welcome! Absolute classic behaviour.

I've done this since 2017 too. I've got a gambling streak so was always way more concerned with selling early and watching it rocket than taking a nice chunk out as a reward.

I don't include crypto in my net worth -  not really  and it wouldn't ruin my life it all went to 0 tomorrow.

But this cycle i'm getting prepped, dare I say it, it looks easier to predict. You wont catch the top but once things start to overheat post halving it's time to start taking some profits. You can always leave some bags for the long term too

I'm planning early retirement in 3 - 5 years and have not included the value of my crypto in any of my calculations.  Any gain on the crypto is really a bonus that at the current prices wouldn't change my plans that much.  Who knows, if it does go to the moon maybe I can buy houses for the kids outright rather than just fund their deposits 

RichTips

Malthusian said:

RichTips said:

I'd be curious to learn if/how the throughts and opinions of @Malthusian have evolved, especially as he responded to my first comment on the subject way back in mid-2020 and is still active.

Punters' money in == punters' money out.

The only thing that has evolved is my admiration for the doggedness of crypto bros who are still ploughing their lonely furrow, despite the failure of every "Bitcoin to $400,000" prediction made back at the start of this thread, the losses made on all those "risk-free 10%pa returns", and the continuing no-show of their instant riches.

I think you're referring to one poster who stipulated $400k within 10 years back in 2021.

silvercue

RichTips said:

Malthusian said:

RichTips said:

I'd be curious to learn if/how the throughts and opinions of @Malthusian have evolved, especially as he responded to my first comment on the subject way back in mid-2020 and is still active.

Punters' money in == punters' money out.

The only thing that has evolved is my admiration for the doggedness of crypto bros who are still ploughing their lonely furrow, despite the failure of every "Bitcoin to $400,000" prediction made back at the start of this thread, the losses made on all those "risk-free 10%pa returns", and the continuing no-show of their instant riches.

I think you're referring to one poster who stipulated $400k within 10 years back in 2021.

They are not posters - they are "cRypto Br0s" - remember

Malthusian

RichTips said:

I think you're referring to one poster who stipulated $400k within 10 years back in 2021.

Everyone who invests in Bitcoin at $60k is relying on it going to some unfeasibly large number in some unspecified but small number of years so they can cash out and buy their lambo, or retire to the Bahamas, or whatever "rich quick" means to them. What those numbers are is rarely specified, but it is implicit that it is of a similar ratio to the price now vs the price when only a tiny number of enthusiasts had heard of Bitcoin and were using it to buy weed and shrooms on Silk Road.

I singled out [Deleted User]'s prediction merely because he had the brojones to actually put a specific figure and a timescale on it. And then duly had to spend the next few years doing the goalposts fandango.