Bitcoins to the moon - Page 19

As CamilaPunt said you could throw some money on an exchange (like Binance since Binance "won". You could just keep it there but that would be holding value on an exchange which is kind of stupid. The next step to actually HODLing BTC/ETH would be to get a wallet. Call me old fashioned but I always liked a Trezor Wallet. There is some chance of losing the seed phrases and wallet but it's probably pretty low if care is taken. So, it's basically what are the odds of the exchange going insolvent and not being able to get your funds versus keeping seed phrases safe. I will say with the wallet there are times I wonder about the house burning down or what if recovery doesn't work? I have been burned by poker sites in the past and FTX is no different. So, is it true that if Binance goes insolvent crypto would go to zero? HODLing in Binance would save you x% and then another 2 x%s if you want to cash out to a bank vs a wallet.

eTrade or Fidelity might offer some way to invest in BTC/ETH but you wouldn't actually HODL BTC/ETH. For me, something feels a bit wrong about going through centralized powers to invest in BTC/ETH but it may actually be a better / safer investment.

I'm sure someone on here can update this. Specifically, the best wallet to use these days and going to JP Morgan Chase to invest in a decentralized entity.

On November 12 2022 01:48 Daut wrote: Been a while guys. Haven't skimmed through the 18 pages or however many pages it's been since I was last here. Didn't actually have funds locked up in FTX so I avoided this disaster unlike luna, but this is easily the worst thing that's ever happened in crypto. The contagion from FTX insolvency will unfold over the next 6-9 months: hedge funds going bankrupt, lending companies going bankrupt, the people that need to sell due to their money being locked elsewhere.... I think on a 2-3 year time horizon, the big winners from this will be BTC, ETH, UNI, and potentially privacy coins (but I'm a little scared about regulation of them). But on a shorter horizon...fuck our lives. I'll probably just sell a significant amount of what I have, reduce exposure to crypto to like 15%, and start thinking about potentially buying mid next year.

Same here, dodged this bullet unlike luna, I'm not sure if its the worst thing to happen to crypto, publicity wise certanly, but its likely the Luna/UST collapse was a catalyst for Alameda's fall just like 3AC, a few people like Timex saw right through SBF for what he really was, a cynical value extractor that in fact tried to regulate a monopoly for himself soi good riddance.

I'm not sure if its the copium talking but I'm glad this bear market burned so many parasites, these influencer billionares, seed round VCs that dumped into retail and CEXEs while they onboard institutional money into crypyto and pump my bags like crazy they are the antithesis of what crypto should be, and now more than ever I realize how important crypto is, in a soon cash-less world there are two futures, one of absolute surveillance and state control and one of financial freedom through crypto, the first one scares the shit out of me, I mean even a moderate like Trudeau froze all the accounts donating to the trucker protests, imagine handing 100x this finantial power to all the authoritarians and corrupt governments in the world, and dont think of the US/EU but the rest of the world governments that are more heinous that you could possibly imagine.

really sucks fellas... this year has been harsh

I feel one 'indicator' to look at amongst others is that alts have to burn a lot before we are close to a true bottom
look at the TOTAL 3 graph... currently sits at 300billion +
we have to go sub 100
and a bunch of ponzi coins die
alts holding up well so far is worrisome
it happened the same last bear market--- people would say 'oh no alts are independent and strong now' and whatnot bs, but no, they have to go 99% of them are essentially ponzi schemes
FTX was a black swan event but i dont think its the last or largest event we will see in this bear market

You guys gotta be joking. You can't be selling now after we dumped 80% from the top. This is time to accumulate. Sell it all to me. Bring on eth below 1k, goes straight into my wallet

On November 12 2022 14:25 CamilaPunt wrote: really sucks fellas... this year has been harsh I feel one 'indicator' to look at amongst others is that alts have to burn a lot before we are close to a true bottom look at the TOTAL 3 graph... currently sits at 300billion + we have to go sub 100 and a bunch of ponzi coins die alts holding up well so far is worrisome it happened the same last bear market--- people would say 'oh no alts are independent and strong now' and whatnot bs, but no, they have to go 99% of them are essentially ponzi schemes FTX was a black swan event but i dont think its the last or largest event we will see in this bear market

I agree with you about the alts

but

it's been a while since I read Black Swan but I don't think FTX qualifies.

Also, maybe this derails things a bit but what is the deal with people who are very proud about being effective altruists?

Of course I want things to be founded in reason but always seemed dicey to me.

Humans are going to human I guess.

Also, if Vitalik ever comes up sullied I'll be sad. I've been watching a lot of interviews with him recently and it feels like he has the keys to a better future for humans.

On November 13 2022 04:17 RiKD wrote: Also, maybe this derails things a bit but what is the deal with people who are very proud about being effective altruists? Of course I want things to be founded in reason but always seemed dicey to me. Humans are going to human I guess.

Because most effective altruists only focus on individual solutions, which means they arn't effective altruists. People obviously don't learn in their history class that pretty much any thing that made the world better long term was with politics.

If you look at say, the plan to plant 1 trillion tree's, that a bunch of billionaires said they'd support in 2020. It all turned out to be a fraud, they didn't follow through with it. But if they did, it's a pretty inefficient way to deal with climate change. The far more efficient way would be to stop people from cutting trees down, for one example. You could price farmers in so cutting trees down isn't in their self interest. Even the rich people like bill gates are not being smart with their effective altruism choices, according to climate experts.

What are your thoughts on Quadratic funding (voting)?

Also, the fact that it is some form of profiting in McDonald's stock among other hypocritical choices to gloat about planting trees and then not and not even mentioning not cutting down trees is so Bill Gates energy. I'll have to check how that whole "Giving Pledge" thing is going. Ray Dalio... all those fuckers... I would bet that SBF stole the $10 billion or whatever it was because he thought he could put better use to the money. I have always been leery of "Effective Altruists TM." I'm also skeptical of politicians though. Someone said he'd rather have Donald Trump or Joe Biden's ass leading us through the muck than SBF. Perhaps they were not wrong.

On November 12 2022 14:25 CamilaPunt wrote: really sucks fellas... this year has been harsh I feel one 'indicator' to look at amongst others is that alts have to burn a lot before we are close to a true bottom look at the TOTAL 3 graph... currently sits at 300billion + we have to go sub 100 and a bunch of ponzi coins die alts holding up well so far is worrisome it happened the same last bear market--- people would say 'oh no alts are independent and strong now' and whatnot bs, but no, they have to go 99% of them are essentially ponzi schemes FTX was a black swan event but i dont think its the last or largest event we will see in this bear market

FTX isnt a black swan and obviously is the largest event we will see in this bear market since its probably one if not the biggest even in crypto, unless you think Binance/Tether will go down in which case we will see 3k BTC lol

On November 13 2022 02:08 spets1 wrote: You guys gotta be joking. You can't be selling now after we dumped 80% from the top. This is time to accumulate. Sell it all to me. Bring on eth below 1k, goes straight into my wallet

Werent sellinlg prior FTX, felt good holding 20k but now things have changed for the worst, the world economy seems bad, I dont see many scenarios where we go into a bull market in a near future, seems reasonable to pull out and re-entry at even lower prices.

I cashed about half my crypto and I plan to rebuy at 14ish or eat a loss at 21k ish

Yeah, cash out and buy toys to try and increase happiness but realize that is futile and then have to work more to compensate. sick life... Pay an escort to be my "girlfriend." Never tried that before. I imagine Baal to have a pretty dece social life. That is worth more than money. It is a good question on where to put money for the next 6 months? Not that I have that much skin in that game as I live paycheck to paycheck with a dece emergency fund and an under performing 401k... I'll get out and gamble if the timing is right.

On November 14 2022 02:20 RiKD wrote: Also, the fact that it is some form of profiting in McDonald's stock among other hypocritical choices to gloat about planting trees and then not and not even mentioning not cutting down trees is so Bill Gates energy. I'll have to check how that whole "Giving Pledge" thing is going. Ray Dalio... all those fuckers... I would bet that SBF stole the $10 billion or whatever it was because he thought he could put better use to the money. I have always been leery of "Effective Altruists TM." I'm also skeptical of politicians though. Someone said he'd rather have Donald Trump or Joe Biden's ass leading us through the muck than SBF. Perhaps they were not wrong.

The only people who really put any serious effort into the tree-planting program were the public in Pakistan. Any plan to deal with ecology in an optimized way would need input from thousands of people, at the very least. Rich people mostly will choose to ignore these optimized plans because they go against their self-interest, and because they don't pay attention to them.

On November 14 2022 02:56 Baalim wrote: Show nested quote + On November 12 2022 14:25 CamilaPunt wrote: really sucks fellas... this year has been harsh I feel one 'indicator' to look at amongst others is that alts have to burn a lot before we are close to a true bottom look at the TOTAL 3 graph... currently sits at 300billion + we have to go sub 100 and a bunch of ponzi coins die alts holding up well so far is worrisome it happened the same last bear market--- people would say 'oh no alts are independent and strong now' and whatnot bs, but no, they have to go 99% of them are essentially ponzi schemes FTX was a black swan event but i dont think its the last or largest event we will see in this bear market FTX isnt a black swan and obviously is the largest event we will see in this bear market since its probably one if not the biggest even in crypto, unless you think Binance/Tether will go down in which case we will see 3k BTC lol

it fits the definition but anyways my point is its a really big event.

On November 14 2022 02:57 Baalim wrote: Show nested quote + On November 13 2022 02:08 spets1 wrote: You guys gotta be joking. You can't be selling now after we dumped 80% from the top. This is time to accumulate. Sell it all to me. Bring on eth below 1k, goes straight into my wallet Werent sellinlg prior FTX, felt good holding 20k but now things have changed for the worst, the world economy seems bad, I dont see many scenarios where we go into a bull market in a near future, seems reasonable to pull out and re-entry at even lower prices. I cashed about half my crypto and I plan to rebuy at 14ish or eat a loss at 21k ish

selling here is rough

On November 14 2022 02:57 Baalim wrote: Show nested quote + On November 13 2022 02:08 spets1 wrote: You guys gotta be joking. You can't be selling now after we dumped 80% from the top. This is time to accumulate. Sell it all to me. Bring on eth below 1k, goes straight into my wallet Werent sellinlg prior FTX, felt good holding 20k but now things have changed for the worst, the world economy seems bad, I dont see many scenarios where we go into a bull market in a near future, seems reasonable to pull out and re-entry at even lower prices. I cashed about half my crypto and I plan to rebuy at 14ish or eat a loss at 21k ish

It may work out or may not. We will definitely know soon enough. I'm not selling, only accumulating if we go below 1k on eth. Even though the markets outlook are recession, crypto may have a rocket up any time.

This was a black swan event, as you said it looked good prior the FTX dump. We can go down more if we have ripple effects in the next few weeks with other exchanges, etc having to forced sell. But risk to reward is in favour of bulls here. Especially with pretty much everyone being so bearish on social media and msm

On November 14 2022 10:49 CamilaPunt wrote: Show nested quote + On November 14 2022 02:57 Baalim wrote:   On November 13 2022 02:08 spets1 wrote: You guys gotta be joking. You can't be selling now after we dumped 80% from the top. This is time to accumulate. Sell it all to me. Bring on eth below 1k, goes straight into my wallet Werent sellinlg prior FTX, felt good holding 20k but now things have changed for the worst, the world economy seems bad, I dont see many scenarios where we go into a bull market in a near future, seems reasonable to pull out and re-entry at even lower prices. I cashed about half my crypto and I plan to rebuy at 14ish or eat a loss at 21k ish selling here is rough

being forced to sell or getting out is rough, selling o re-entry at other low/hight points is reasonable at pretty much any price

The NYT wrote a puff piece not mentioning fraud or crime about SBF... It's fucking happening boys, the biggest financial crimes in the last 14 years and he is going to walk because he is the biggest 2nd donor to the dems...

On November 15 2022 03:46 Baalim wrote: The NYT wrote a puff piece not mentioning fraud or crime about SBF... It's fucking happening boys, the biggest financial crimes in the last 14 years and he is going to walk because he is the biggest 2nd donor to the dems...

Seems to me like he was successful in giving his fortune all away, lmao.