Is anyone else starting to become a bit excited?

BrandonBay86

Those buys at $44/45k 10 days ago are looking great now as expected. Hodl on.

Daithi40

I check this lunatic out every now and then...... as always dyor 2FA everywhere where you can https://dailyhodl.com/

Grumpypants

ShaneU wrote: »

Sold last night when it was dropping at €43.6k, hoping to buy back at a lower price. It has since proceeded to skyrocket up to €46k. Just bought back in. I have the worst luck. Watch the price plummet now.

Trading is just gambling. The only time it makes sense to sell is when you think the price is over extended and due a pull back. But even then, I've seen over extended prices keep going under momentum.

I'd maybe take a little off the top when the price is high. If you need the money. But be careful selling all you have to try and make 5-6%. Just holding will earn you more long term in 99% on cases.

Selling a dip is the sure fire way to chip away at your investment.

Jafin

yabadabado wrote: »

I purchased some coins in December and January.
Some of them doing well and others not so much.
Is it advisable to withdraw a percentage of some of them,if all fails at least have my initial investment back and then anything else is a bonus?

I have no issue leaving them there long-term and don't need the money at the moment just wondering what more experienced people do around here.

If you don't need the money and are comfortable with the potential of losing it then I'd say just leave it in. The more you have left in the more you can potentially profit down the road. It's your own personal decision though, everybody is different. Just remember nothing is guaranteed and it could all go tits up tomorrow for all we know.

cnocbui

Daithi40 wrote: »

...

Since then I'm a HODLer pretty much, but I do pay attention to "tips" from some posters here who are more involved than me, and as I've mentioned in earlier posts, which some do not agree with I've been extracting my initial investments over the years at set prices and then I will DCA back in, feels comforting that I won't lose it all if for example Crypto is banned globally for example (chances are close to zero obviously) but it gives me some comfort that I'm only gambling with profit.
...

I have to say, I can't see a logic behind selling to recoup your initial investment and then buying back in via DCA.

unkel

cnocbui wrote: »

I have to say, I can't see a logic behind selling to recoup your initial investment and then buying back in via DCA.

Yeah was wondering about that myself. Either you get your initial investment back out and keep "speculating" with the profits, so you will never lose a cent or you believe in HODLing, so you keep everything in and then optionally also keep DCA'ing in further (at the risk of losing everything worst case scenario)

Mellor

BrandonBay86 wrote: »

Those buys at $44/45k 10 days ago are looking great now as expected. Hodl on.

I had set some buy orders at $44k and some ETH too. A smaller order was triggered, but just missed the rest by a couple hundred.

BrandonBay86

Mellor wrote: »

I had set some buy orders at $44k and some ETH too. A smaller order was triggered, but just missed the rest by a couple hundred.

I was just market buying myself. Will continue to do so all the way to $100k.

Mellor

BrandonBay86 wrote: »

I was just market buying myself. Will continue to do so all the way to $100k.

It was a big order rather than a weekly/monthly top up. Tried to be cute. Too cute.

cnocbui

unkel wrote: »

Yeah was wondering about that myself. Either you get your initial investment back out and keep "speculating" with the profits, so you will never lose a cent or you believe in HODLing, so you keep everything in and then optionally also keep DCA'ing in further (at the risk of losing everything worst case scenario)

If I had recouped on my initial bitcoin investment, i would now be an inconsolable blubbering wreck, instead of having a grin rivalling the cheshire cat's.

Daithi40

cnocbui wrote: »

If I had recouped on my initial bitcoin investment, i would now be an inconsolable blubbering wreck, instead of having a grin rivalling the cheshire cat's.

Ok, so pretty much all of my initial amount of euros invested is now back in euros and put away. I have made pretty healthy profits which are still in crypto and I invest more each month using a set amount from my salary.... not sure i explained it properly earlier

Mellor

Daithi40 wrote: »

Ok, so pretty much all of my initial amount of euros invested is now back in euros and put away. I have made pretty healthy profits which are still in crypto and I invest more each month using a set amount from my salary.... not sure i explained it properly earlier

If you withdrew your initial investment. Are you not now just reinvesting it bit by bit?
Just sounds like withdrawing to buy back in at a higher price tbh.

It’s kinda irrelevant when uploading whether a deposit comes from savings or salary. It’s your euro either way.

jester77

Mellor wrote: »

If you withdrew your initial investment. Are you not now just reinvesting it bit by bit?
Just sounds like withdrawing to buy back in at a higher price tbh.

It’s kinda irrelevant when uploading whether a deposit comes from savings or salary. It’s your euro either way.

I withdrew my initial investment a while back. It was about 20% of the value of what I have. It just feels like we are in a huge bubble. If it keeps going, I still have the other 80% working for me, if it collapses I can buy in again.

Lex Luthor

jester77 wrote: »

I withdrew my initial investment a while back. It was about 20% of the value of what I have. It just feels like we are in a huge bubble. If it keeps going, I still have the other 80% working for me, if it collapses I can buy in again.

great strategy here folks

more should take this approach

ZeroThreat

Anyone here adopting the strategy of trying to get into as many pre-sale and seed rounds as possible in order to get into projects at a very low price?

Str8outtaWuhan

ZeroThreat wrote: »

Anyone here adopting the strategy of trying to get into as many pre-sale and seed rounds as possible in order to get into projects at a very low price?

i'm interested but would be clueless how to start is it an invitation kinda thing?

Unearthly

Bitcoin nearly back at the all time high.

So far it has been following the January correction pattern.

Should be good to continue with the bull run

Timmaay

Lex Luthor wrote: »

great strategy here folks

more should take this approach

I think it was someone here afew weeks ago who said they swap last yrs gains for a guaranteed 20% roi every year, that defo holds true for me ha. I put roughly 10% of my savings into crypto last August (which was badly timed, during the alts bull run), I haven't put much else in since. I saw a big drawdown early on but right now I'm over 200% up, so suddenly that intial 10% of my capital is about 20% of my savings, and personally I don't want crypto to represent much more than that, just too volatile, so I'm happily not investing anymore money into crypto for now, I'll wait until there is a significant pullback, and look at cashing out some of my lower conviction alts. If that pullback never comes and crypto keeps on going then I'll still be a happy man.

cnocbui

Lex Luthor wrote: »

great strategy here folks

more should take this approach

Let's say you bought 4 bitcoin for €1K each back in the day. Then when the price had doubled, you sold two of them, recouping your initial €4K.

This is great, right, you now have two 'free' bitcoin and you even dodged CGT due to your allowance. You stick that now safe €4K in the bank and it starts disolving away from inflation.

Fast forward to today when BTC is €47,852.5. The opportunity cost of protecting your precious €4k is €95,705. That's a pretty expensive insurance policy if you ask me.

If you can't afford to lose that €4K, I could ask what are you doing in the kitchen in the first place, but I won't.

I guess I'm just greedy, stupid, or have my eye on the bigger picture - take your pick, but I only invest what I can afford to lose, and since I can afford to lose it, I don't need to protect it, so for me, personally, I don't see this as a great strategy.

Irish_rat

cnocbui wrote: »

Let's say you bought 4 bitcoin for €1K each back in the day. Then when the price had doubled, you sold two of them, recouping your initial €4K.

This is great, right, you now have two 'free' bitcoin and you even dodged CGT due to your allowance. You stick that now safe €4K in the bank and it starts disolving away from inflation.

Fast forward to today when BTC is €47,852.5. The opportunity cost of protecting your precious €4k is €95,705. That's a pretty expensive insurance policy if you ask me.

If you can't afford to lose that €4K, I could ask what are you doing in the kitchen in the first place, but I won't.

I guess I'm just greedy, stupid, or have my eye on the bigger picture - take your pick, but I only invest what I can afford to lose, and since I can afford to lose it, I don't need to protect it, so for me, personally, I don't see this as a great strategy.

Well said.

However have some powder ready for the next bear market.

But generally anything I buy like btc I hold and never sell.

Irish_rat

cnocbui wrote: »

Let's say you bought 4 bitcoin for €1K each back in the day. Then when the price had doubled, you sold two of them, recouping your initial €4K.

This is great, right, you now have two 'free' bitcoin and you even dodged CGT due to your allowance. You stick that now safe €4K in the bank and it starts disolving away from inflation.

Fast forward to today when BTC is €47,852.5. The opportunity cost of protecting your precious €4k is €95,705. That's a pretty expensive insurance policy if you ask me.

If you can't afford to lose that €4K, I could ask what are you doing in the kitchen in the first place, but I won't.

I guess I'm just greedy, stupid, or have my eye on the bigger picture - take your pick, but I only invest what I can afford to lose, and since I can afford to lose it, I don't need to protect it, so for me, personally, I don't see this as a great strategy.

Well said.

However have some powder ready for the next bear market.

yabadabado

This is probably a stupid question but surely at some stage you will sell ?
What's the end game ?

djan

yabadabado wrote: »

This is probably a stupid question but surely at some stage you will sell ?
What's the end game ?

There could be a point in time where you don't have to change to FIAT currency to buy the things you want and do so directly with crypto.

Some shops and businesses are already taking it as direct payments. Especially in Asia.

Thargor

yabadabado wrote: »

This is probably a stupid question but surely at some stage you will sell ?
What's the end game ?

Fingers crossed a free house.

cnocbui

yabadabado wrote: »

This is probably a stupid question but surely at some stage you will sell ?
What's the end game ?

In the hypothetical case where your profits are potentially life changing, I would emigrate to somewhere with a lot less than 33% CGT, preferably 0%, before taking profit.

Jeff2

Thargor wrote: »

Fingers crossed a free house.

I believe there was a guy selling a house a while back for $17m in bitcoin.

Eta https://www.standard.co.uk/news/london/ps17m-london-mansion-up-for-sale-but-only-if-you-can-pay-in-bitcoin-a3657556.html?amp[\url]

Irish_rat

yabadabado wrote: »

This is probably a stupid question but surely at some stage you will sell ?
What's the end game ?

The end game is getting out of the 9-5.

Plan is stack heavily in the next bear market and will see where I am 3-4 years from now.

Move to a crypto tax friendly country where I can purchase in btc etc.

Lex Luthor

cnocbui wrote: »

Let's say you bought 4 bitcoin for €1K each back in the day. Then when the price had doubled, you sold two of them, recouping your initial €4K.

This is great, right, you now have two 'free' bitcoin and you even dodged CGT due to your allowance. You stick that now safe €4K in the bank and it starts disolving away from inflation.

Fast forward to today when BTC is €47,852.5. The opportunity cost of protecting your precious €4k is €95,705. That's a pretty expensive insurance policy if you ask me.

If you can't afford to lose that €4K, I could ask what are you doing in the kitchen in the first place, but I won't.

I guess I'm just greedy, stupid, or have my eye on the bigger picture - take your pick, but I only invest what I can afford to lose, and since I can afford to lose it, I don't need to protect it, so for me, personally, I don't see this as a great strategy.

your numbers you quote are based on having great hindsight by knowing what the gains of BTC have been over the years

If you bought that 1k BTC and knew it was going to 47k then of course you wouldnt be selling at 2k

I could also say based on knowing those figures, that I take out my initial 4k by selling 0.1 BTC at 40k and then I'm in a far better position

you also dont know what jester77 invested

what is it was 25k and not an amount they could afford to lose, but now their investment is up to 125k and they are in a great position to take back that 25k and treat themselves with a decent amount still in the game

BrandonBay86

Irish_rat wrote: »

The end game is getting out of the 9-5.

Plan is stack heavily in the next bear market and will see where I am 3-4 years from now.

Move to a crypto tax friendly country where I can purchase in btc etc.

This is the way.

BrandonBay86

Wallet up over 1500% from the lows of March 11/12th last year from buying dips & DCAing. Wouldn’t get that in the S&P.

Meself

BrandonBay86 wrote: »

Wallet up over 1500% from the lows of March 11/12th last year from buying dips & DCAing. Wouldn’t get that in the S&P.

Ive read a bit about DCA but cannot get my head around it.
Is it simply buying in a dip throughout the year and holding?
Do you set a dip target and hope it dips to it ?

Why would you not put all on a dip target ? In case it goes lower on the next one ? Who is to say it will ever reach it again.

FFVII

The bitcoin elite are spending millions on collectable memes

It started with CryptoKitties. In December 2017, the dopey-looking cartoon cats, created by Canadian company Dapper Labs, debuted as tradable collectibles, like Pokémon cards for the bitcoin era. Each image was associated with a unique string of digits – a cryptocurrency “non-fungible token” or NFT – that could be traded on the Ethereum blockchain platform as a title deed granting the holder ownership of a particular kitty.

The trading game quickly caught on among the crypto-initiated, so much so that CryptoKitties-related transactions clogged and slowed down Ethereum.

Its end point is an auction starting tomorrow, in which a token associated with a digital collage of 5,000 images by graphic designer Beeple will go under the hammer at auction house Christie’s. Cryptocurrency payments are of course accepted.

Timmaay

Very easy to say on hindsight that bitcoin would be 50k, during last year's Corona crash to 4k, where there complete fear panic and blood on the streets it was a totally different story ha. Anyways personally I started investing Jan last year simply because I was sick of zero interest on my savings (mostly for a house mortgage deposit in the next few yrs), back then if I could of earned 5% I would of been well happy. Instead now a year later thanks to both the stockmarket and crypto I'm hopefully looking at the likes of only needing a 50% mortgage. The dayjob I will absolutely always keep, I don't do 9 to 5 (instead often do far longer hours ha, but equally so good flexibility), but anyways as was said I'd happily swap last year's well over 100% overall gains for a steady garanteed 20% every year, you compound 100k at 20% return every year, with zero additional capital, you will become a millionaire 13yrs later. I don't expect that ha, but basically give me steady but guaranteed return's every single year rather than one insane bubble that might tempt me with insane moonshots but in the space of one poor week I could very easily see 50% of my balance wiped out if it was all in crypto. And if some of the posters here have already done 1500% I'm assuming there are a significant number of yous who are already in a life changing scenario thanks to crypto, you surely gotta strongly considering getting out then, rather than simply "hodl forever"

Timmaay

Meself wrote: »

Ive read a bit about DCA but cannot get my head around it.
Is it simply buying in a dip throughout the year and holding?
Do you set a dip target and hope it dips to it ?

Why would you not put all on a dip target ? In case it goes lower on the next one ? Who is to say it will ever reach it again.

DCA = dollar cost averaging, you have like 12k to invest in the year, you buy a grand start of each month regardless of any dips or peaks. What alot of people do is instead is try to spread that same 12k across what they think themselves are dips. Trouble here is when you start catching a falling knife and it keeps on dipping ha, just make sure you like don't blow most your 12k in like feb as its dip after dip, then the actual bottom only comes later in the year.

Meself

Timmaay wrote: »

DCA = dollar cost averaging, you have like 12k to invest in the year, you buy a grand start of each month regardless of any dips or peaks. What alot of people do is instead is try to spread that same 12k across what they think themselves are dips. Trouble here is when you start catching a falling knife and it keeps on dipping ha, just make sure you like don't blow most your 12k in like feb as its dip after dip, then the actual bottom only comes later in the year.

Ok.. so if I'm reading it right, you pick a date every month and stick to it? ...same stock

ZeroThreat

cnocbui wrote: »

In the hypothetical case where your profits are potentially life changing, I would emigrate to somewhere with a lot less than 33% CGT, preferably 0%, before taking profit.

The problem with that is that you have to become non ordinarily resident here before you're exempt from CGT and knowing the zealous nature of Irish revenue (unless you're a large multinational) they'll chase you whereever you go, so realistically you'll have to wait 3 years before selling anything off after emigrating.

cnocbui

ZeroThreat wrote: »

The problem with that is that you have to become non ordinarily resident here before you're exempt from CGT and knowing the zealous nature of Irish revenue (unless you're a large multinational) they'll chase you whereever you go, so realistically you'll have to wait 3 years before selling anything off after emigrating.

The only power Revenue have is in Ireland over assets you might have in Ireland. There is no interntional 'pursuit' of individuals over tax issues. So if you leave and intend never to return, or within 10 years, anyway, you can do as you please.

Jeff2

Ask what's his name... Tax compliment.

I think you have to be 183 days out of the country a year.

grindle

Timmaay wrote: »

...if some of the posters here have already done 1500% I'm assuming there are a significant number of yous who are already in a life changing scenario thanks to crypto, you surely gotta strongly considering getting out then, rather than simply "hodl forever"

No.

When the market was crashing last March there wasn't a single moment where I thought "Oh no, it's headed to zero", I thought "Ooh, every market in the world is panicking, I wonder where the floor'll be? I should buy more."

Why stop buying something where it's ecosystem hasn't even matured yet?

Irish_rat

Many crypto will reach a point where they won't be as volitile anymore when the total market cap passes 10 trillion on the way to 100 trillion

BrandonBay86

Meself wrote: »

Ok.. so if I'm reading it right, you pick a date every month and stick to it? ...same stock

I buy roughly the same € amount every weekend and don’t sell it. Never sold a satoshi.

cnocbui

Jeff2 wrote: »

Ask what's his name... Tax compliment.

I think you have to be 183 days out of the country a year.

Even Jesus Christ knew the truth of it as it applies here: 'Render unto Caesar the things that are Caesar's,'

If you move to live in another country, the minute you set foot in that country, you cease to have any obligation to abide by irish laws and every obligation to abide by that countries laws. That 3 year rule has no leagl enforcibility outside of Ireland and Revenue are just flying a kite, as thay have no power or mechanism of enforcement.

Even the guff Irish judges love to pontifcate about and hold forth on concerning 'ordinarily resident', 'permanently resident' and so forth, only have applicabilty within Ireland, because Irish law and their rulings only have relevance here.

So long as you don't have assets within Ireland and don't actually set foot within Ireland within 10 years, you abide by Caesar's laws, not Dublin's

BrandonBay86

grindle wrote: »

Dose for them! I'm excited for sub €100 ETH and the slide in the last 10 mins makes me think it's near definite, gonna splooge my pants.

Lmao.. good times.

https://touch.boards.ie/thread/2057969971/236

BrandonBay86

sabat wrote: »

Sub 2k by the end of the month then the inevitable drift to vaporware. It's over folks. Bitcoin's long promised moment in the sun was supposed to be happening right now and it's in less demand than a 24 pack of cushelle.

Beautiful.

BrandonBay86

flexcon wrote: »

Oh I get it. I’ve no doubt. But I don’t have the confidence or intellect to understand how in gods name it drops from 9K to 4.5K in less than 48 hours. It’s real money I put in there and it’s gone. It’s over.

I’m not going to sink because of this but all my
Play money is lost. Once it’s back up then I’m out and buying a play station or something I can actually enjoy for a few years of peace!

Did you hodl on?

Mellor

jester77 wrote: »

I withdrew my initial investment a while back. It was about 20% of the value of what I have. It just feels like we are in a huge bubble. If it keeps going, I still have the other 80% working for me, if it collapses I can buy in again.

In that case you've withdrew a safety net. There is nothing wrong with that.
But it differs from the example I quoted.

In that example they withdrew, but immediately started to reinvest with DCA.
That serves no purpose other than to reduce your BTC holdings.

Lex Luthor wrote: »

what is it was 25k and not an amount they could afford to lose, but now their investment is up to 125k and they are in a great position to take back that 25k and treat themselves with a decent amount still in the game

It's irrelevant what they have invested. The maths is the same either way.
Say you withdrew that 25k on Jan 1. And DCA e500 a week. At the end of the year, you're 25k in back in your wallet, and you own less BTC.

It would be a valid strategy in a falling market, but in a rising one. It's just giving away BTC.

Daithi40

Mellor wrote: »

In that case you've withdrew a safety net. There is nothing wrong with that.
But it differs from the example I quoted.

In that example they withdrew, but immediately started to reinvest with DCA.
That serves no purpose other than to reduce your BTC holdings.



It's irrelevant what they have invested. The maths is the same either way.
Say you withdrew that 25k on Jan 1. And DCA e500 a week. At the end of the year, you're 25k in back in your wallet, and you own less BTC.

It would be a valid strategy in a falling market, but in a rising one. It's just giving away BTC.

Not necessarily.... in my case being a divorcee I need to show x amount of fiat for a new mortgage for example, banks ain't too hot on hearing how much crypto you own or stake

Anyway, everybody's situation is different, I get your maths but it's not applicable to everyone's situation or risk appetite

Mellor

Daithi40 wrote: »

Not necessarily.... in my case being a divorcee I need to show x amount of fiat for a new mortgage for example, banks ain't too hot on hearing how much crypto you own or stake

Anyway, everybody's situation is different, I get your maths but it's not applicable to everyone's situation or risk appetite

That's fair enough, there are times when you need to show X amount of fiat.
But you could withdraw, show the money, and reinvest. In that case.
My point was purely about the idea of withdrawing to reinvest over time.

BOHtox

95% of all BTC is owned by 2% of people. Now I know fiat is probably even worse but that's not my point.

My point is, what happens if BTC hits 200k and these whales think "You know what? 200k is loads. I've 10-20xed. I'ma sell"

I think this problem is particularly unique to BTC as BTC's only real value is as a store of wealth. As a digital asset is so easy to buy and sell, I do see a point where the whales are happy with their profits and reinvestment in other things like precious metals.

I like BTC, I think it's a great investment, I have BTC and I'll accumulate more over the years. But you don't want to be the last one out either.

Any thoughts on the above?

I think other projects like ETH, ADA, AAVE etc and other projects have actual value in their use case, being either a Blockchain or DeFi project.

Lex Luthor

Mellor wrote: »

It's irrelevant what they have invested. The maths is the same either way.
Say you withdrew that 25k on Jan 1. And DCA e500 a week. At the end of the year, you're 25k in back in your wallet, and you own less BTC.

but then you would have to ask the question why would you withdraw to invest back in a rising market using DCA?

The assumption is jester77 is taking out his initial investment and not re-investing and using it for something he needs like paying off a chunk of debt for example

He only said "if"....

IMO its always good to take profits off the table in phases as the market is rising