WaterH
Well-known member
Strange question. Could be today, could be never.
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Official Bitcoin, Ethereum, and other Alt coin crypto thread
- Thread starter Mr Stubs
- Start date
WaterH
Well-known member
Each BTC can be divided into Satoshi. A Satoshi is one hundred millionth of a Bitcoin. (I was wrong to say one million in my earlier post) If one hundred millionth of a Bitcoin is too large for a common person to own in the future, they can be divided further. This has already been figured out.
Thefishguy77
Part time dumbass
Could and probably will are 2 different things. The players are gobbling up BTC. They will probably own 25% or more of it by the bottom of the next bear market. That makes it a poor choice for a currency IMO and you would be better off using something else. You seem intent on avoiding the Gov. Honestly in todays day and age if you dont have that hedge squirreled away by now you dont have it. And to avoid the Gov I would suggests metals like gold and silver for you tractor purchase and BTC for holding you wealth on the run from commies. Because thats where you question started right. Full commie situation correct?
ETA: I got shit to do so I will check in later today.
WaterH
Well-known member
The escape from our government is just one aspect. The dollar will fail. It may not fail in my lifetime, but there is no doubt it will fail. We’ve already jumped off that cliff. The view might be good right now, but the bottom is a bitch. And we ain’t going back up to the cliff. When it fails, the world is going to something. Gold was the answer in the past and I think everybody should own some gold. If you have that covered, Bitcoin is a possible option. I’m not advising anybody to put their life savings into gold or Bitcoin, but if you own even a small amount now, it will be a life changing amount if it becomes the reserve currency in the future.
Thefishguy77
Part time dumbass
No disagreement but you kinda just suggested a hedge against the dollar as an investment not necessarily a currency. Unless it is legal tender it is not legally a currency
WaterH
Well-known member
So the “halfing” event is a couple weeks away. Anybody buying BTC now? I really want to, but price is not inviting. My friend says Amazon was not inviting in 2015 at $30. (It had been $20 for awhile) By 2021, it didn’t matter if you bought it for $20 or $30, you were smiling. (It was around $180)
I really got a feeling BTC is there now. I might throw a couple grand at it. The problem I have is I bought in at approximately $50,000 average. Later I bought more lowering my “buy in” average to around $47,000. Now would be the first time I would be raising my average. I hate that idea. But does it really matter when I think it’s going up?
I really got a feeling BTC is there now. I might throw a couple grand at it. The problem I have is I bought in at approximately $50,000 average. Later I bought more lowering my “buy in” average to around $47,000. Now would be the first time I would be raising my average. I hate that idea. But does it really matter when I think it’s going up?
Lawless
A turd in the herd
I sold all mine off 18 months ago but right now I've got a bunch of DOGE that's quadrupled since I bought in. I've been thinkin' of flipping that into BTC and see what happens in 6 months or so. Decisions, decisions.
WaterH
Well-known member
I don’t know if 6 months is too optimistic. But maybe.I sold all mine off 18 months ago but right now I've got a bunch of DOGE that's quadrupled since I bought in. I've been thinkin' of flipping that into BTC and see what happens in 6 months or so. Decisions, decisions.
Captain
Obvious
- Joined
- May 22, 2020
- Member Number
- 1122
- Messages
- 28
Bump for the Bitcoin halving later today.... which historically has been recognized as the starting point of major bull runs...guess we'll see though.
WaterH looks like you've been doing your homework lol. Hopefully you'll get to the point of just setting up a recurring purchase/transfer to stop trying to time the market. It makes life so much easier.
Curious to see if we'll ever find out who "Mr. 100" is. (Unknown entity that has been purchasing at least 100 BTC each day since February (?))...
WaterH looks like you've been doing your homework lol. Hopefully you'll get to the point of just setting up a recurring purchase/transfer to stop trying to time the market. It makes life so much easier.
Curious to see if we'll ever find out who "Mr. 100" is. (Unknown entity that has been purchasing at least 100 BTC each day since February (?))...
Will12785
Red Skull Member
Betting its the CCP
TRINDU
PBB Orphan
The Fed
WaterH
Well-known member
I believe the bull run doesn’t start immediately after the halving. More like in the next 6 months.
As far as Mr. 100, I’ve not heard of that. There is some mid east guy linked to his government that has said he/they intend to buy 500 million in BTC. I suppose if you were going to do that, a 100 a day would be a good way to do it without driving up the price too much.
JNHEscher
Red Skull Member
Way behind on all this, but I figure I better keep up.
Don't have a ton of interest in this, though I bought some BTC a few years ago. Looks like my money has roughly quadrupled, or so. Hanging on to what I have unless I can get good with it and sell off at a peak and buy back in.
Don't have a ton of interest in this, though I bought some BTC a few years ago. Looks like my money has roughly quadrupled, or so. Hanging on to what I have unless I can get good with it and sell off at a peak and buy back in.
WaterH
Well-known member
So I transferred $1000 from an exchange to my wallet yesterday. The fee was $60. I see when I open my wallet, it has a banner that says “High activity in the crypto markets have drivin up transaction fees”. I understand an exchange can charge whatever they want, but does the fees go up and down if I send BTC to another wallet? I havnt done this recently, but it was near nothing in the past.
grumpy356
bordering on illiterate
- Joined
- May 19, 2020
- Member Number
- 244
- Messages
- 1,138
This has been covered ad nauseum, but don't forget to figure your tax implication on the ol', buy / sell transaction gain.
JNHEscher
Red Skull Member
Theft is unforgettable.
grumpy356
bordering on illiterate
- Joined
- May 19, 2020
- Member Number
- 244
- Messages
- 1,138
I FIRMLY Support Tax theft, but if that is the goal, it's good to understand how the tax works, so it an effective cheating strategy can be put in place.
Captain
Obvious
- Joined
- May 22, 2020
- Member Number
- 1122
- Messages
- 28
Whoever it was...they just either sold or transferred for the first time out of that wallet 1000 BTC yesterday
Although the Hong Kong stock market(?) did recently approve and set the offering of Bitcoin ETF to start trading 4/30/24...
The ultimate game theory.
Yes it is my understanding that the Bitcoin protocol allows users to voluntarily increase the fee size from their transaction for their transaction to get a higher priority for their transaction to be included in the next block.....vs. if it is a non-time-critical transaction you can set it to go through when transaction traffic has reduced and pay as little fee as possible. Not sure if your exchange you're using gives you the options to configure that or not.
For reference I believe the cumulative BTC transaction fee reward given to the miner who validated the recent halving block was around ~40 BTC (highest transaction fee reward on record). Whereas the newly issued/mined BTC reward for validating a new block is now only 3.125 BTC. I.E. a bunch of people were willing to spend a bunch of money for the novelty of having their transaction be in the halving block.
Thefishguy77
Part time dumbass
Halving happened. Probably going to have an accumulation period before the bull run kicks in again. The beginning of the bull run has been fantastic so far. BTC has a but over 3x off the bottom. Most alts are moving well. Many new shit coins have 5-10x so far its been a great 1st 1/2 of a bull run. May the 2nd half be fantastic.
AndyPatrick
New member
- Joined
- Apr 24, 2024
- Member Number
- 7746
- Messages
- 1
Happy halving, lol :)
I really believe that bitcoin will grow in the next 2-3 years, not before. It may rise to 100k this year or early next year, but massive growth will be 2-3 years later. I really hope that during this time there will be no new wars, or any pandemics or economic crises, since all these events strongly affect the availability of money among the population, and no matter what anyone says, bitcoin depends on the news in the world, because if people don't have money, they don't have money to buy new bitcoins, or in general, the price of bitcoin is not growing, or maybe even falling.
I really believe that bitcoin will grow in the next 2-3 years, not before. It may rise to 100k this year or early next year, but massive growth will be 2-3 years later. I really hope that during this time there will be no new wars, or any pandemics or economic crises, since all these events strongly affect the availability of money among the population, and no matter what anyone says, bitcoin depends on the news in the world, because if people don't have money, they don't have money to buy new bitcoins, or in general, the price of bitcoin is not growing, or maybe even falling.