Are we excited yet?

Dohnjoe

https://www.boards.ie/discussion/comment/121859520#Comment_121859520

BTC is used extensively for ransomware, then sent through tumblers.

Tesla stopped using BTC because of an outcry from investors (mainly over the hypocrisy of using a climate unfriendly asset for a supposedly climate friendly electric vehicle) although there's suspicions Musk also had other motives.

Steam dropped BTC because it was too volatile and too hard to process returns. It's not just BTC, studies have shown that crypto as a whole is only used for less than 2% of payments.

Indeed it's mainly used as a "store of value", albeit a highly speculative one. Like penny stocks.

Dohnjoe

https://www.boards.ie/discussion/comment/121859673#Comment_121859673

Yes, everyone holding BTC is in "profit", but with someone else's money. All that money comes from somewhere, your friend, your grandmother, your brother. And yes "institutional money" is someone else's money before that's thrown in.

It's a mechanism that shifts our wealth between each other, whilst producing nothing (it actually consumes). Other speculative markets do the same, but they usually produce something.

Potatoeman

https://www.boards.ie/discussion/comment/121859522#Comment_121859522

..

Potatoeman

Wormhole airdrop coming, you can check if you qualify on phantom using the link there.

mickdw

https://www.boards.ie/discussion/comment/121859978#Comment_121859978

Clearly when near an all time high, nearly everyone with bitcoin will be in profit.

Yes, someone is buying at these prices so someone else is paying for that profit.

What's new there? That's a fact but you have to say, anyone buying at this level is taking a big punt so you couldn't really have any sympathy. Likewise people not selling at current level are taking the gamble forward so really no sympathy for anyone either buying or holding if they get burned from this point.

I include myself in that - holding a small amount of bitcoin that has doubled in value but hoping for more.

Markus Antonius

https://www.boards.ie/discussion/comment/121859978#Comment_121859978

*Virtual profits in your case. What's the best crypto investment simulator these days? Still holding that dogecoin from 2013?

Dohnjoe

https://www.boards.ie/discussion/comment/121860204#Comment_121860204

As mentioned a good few times in these threads, I sold a fair chunk of my portfolio in 2021. Mined Doge in 2014, have sold the majority of that. Learnt in 2017/2018 the number on the screen isn't worth anything until it's cashed out and taxes paid.

cnocbui

https://www.boards.ie/discussion/comment/121859468#Comment_121859468

I hold bitcoin and am not any of those things which all run on fiat currencies, throughout history and the present. Gold is the currency of despots, in particular Putin.

All those types of people use phones far more than bitcoin, to facilitate their activities. ISIS was to some extent funded by Qatari's transporting cash in suitcases by private jets. Lets do something about phones, suitcases and private jets.

There are some real idiots who hold the view that cash should be done away with altogether because they think it facillitates wrong doing by some people, which is akin to the nonsense you are spouting.

Things are not intrinsically evil, only people.

I am not surprised you don't know anyone who holds bitcoin and don't have $62K to invest.

You are seriously way off the topic of this thread and intent on disruption. We have seen your like every time BTC surges to the point it's newsworthy, which is why an alternative thread was formed so people with your mindset could go do whatever you like, so how about you take your anti-excited ranting there: https://www.boards.ie/discussion/2057835985/is-anyone-else-starting-to-become-a-bit-worried-mod-note-in-first-post

Dohnjoe

On a side note have been hunting "easy to understand what it is" low cap alts available for cash buys on Coinbase (or Revolut) to second-guess the herd IF there's a frenzy, e.g. NCT Polyswarm up 110% since yesterday, HOPR had a similar jump a few days ago. Super highly risky, but some of the gains are sticking, likely to plummet in the medium term, but always fun if one goes parabolic.

Usual disclaimer: low cap alts are a rabbit hole of insanity

silliussoddius

https://www.boards.ie/discussion/comment/121859673#Comment_121859673

“Everyone”

Grumpypants

https://www.boards.ie/discussion/comment/121861748#Comment_121861748

All time high means all the holders are in profit as everyone bought at a lower price.

Donald Trump

https://www.boards.ie/discussion/comment/121860457#Comment_121860457

How much have you put into it yourself? (Not how much is your stake worth)

cnocbui

https://www.boards.ie/discussion/comment/121861899#Comment_121861899

It was an amount I could affford to lose. I'm currently up about 4,600%.

Donald Trump

https://www.boards.ie/discussion/comment/121862270#Comment_121862270

Was it less than $62k?

erlichbachman

https://www.boards.ie/discussion/comment/121862318#Comment_121862318

Well if it wasn’t he is now a gazzillionaire

Donald Trump

https://www.boards.ie/discussion/comment/121862334#Comment_121862334

Well not really. Would have a bit less than 3m. Not small money but not unheard of.

Regardless, I never asked what they had now, just what they put in

cnocbui

https://www.boards.ie/discussion/comment/121862318#Comment_121862318

It was, but I have made more conventional investments that exceed that figure. Right when Buffet was warning of a recession at the start of the Covid pandemic and against the stock market as it was falling, I piled in.

erlichbachman

https://www.boards.ie/discussion/comment/121862340#Comment_121862340

Ye need to be getting to the point much quicker than that Donald, we are now at a point where it’s almost impossible not to make money on any random coin, terribly busy folks so we are.

https://twitter.com/gabrielhaines/status/1765716504195047687

cnocbui

https://www.boards.ie/discussion/comment/121862384#Comment_121862384

His point is he didn't think I would have the where with all to make an investment on that scale.

Donald Trump

https://www.boards.ie/discussion/comment/121862384#Comment_121862384

Well I was wondering because they felt the need to sneer at an anonymous poster that they were "not surprised you don't know anyone who holds bitcoin and don't have $62K to invest.". So I thought it was a fair question to ask them whether they had had that amount to invest themselves.

Nobody knows anyone else's circumstance. They could be a teenager or a pensioner. People can do what they want, but I wouldn't see it as the mark of a decent person to be sneering and gloating (especially if the bulk of their own position is due to a one-off concentrated "win") at someone else for not having some arbitrary fixed sum of money

"Considerably richer than you" vibes

erlichbachman

https://www.boards.ie/discussion/comment/121862436#Comment_121862436

Cmon, you are well aware that beeker came on here to throw a few digs and just got a few back

KilOit

https://www.boards.ie/discussion/comment/121862436#Comment_121862436

You did nothing but sneer at people who were positive about Crypto when it was at a low point in the bear market a few years back

Donald Trump

https://www.boards.ie/discussion/comment/121863438#Comment_121863438

You either have a great imagination or some kind of victim mentality. Some people on here are extremely sensitive and delicate. It's very very strange.

If you want to sneer at the anonymous poster that said they didn't have 62k to invest, go ahead if it makes you feel better about yourself. Maybe you have it yourself. Maybe you don't. Who cares. You can make up whatever you want.

Donald Trump

Is this what you were referring to? Seems to be a previous exchange I had with you.

https://www.boards.ie/discussion/comment/119338659#Comment_119338659

Have you really been carrying around some kind of offence for the past 20 months or whatever? There isn't much point interacting with the likes of this.

circadian

I always take profits where they exist and never listen to the diamond hands shite. Waste of time. The last big rush was a massive selling opportunity. If the candles are green and everything is parabolic and someone apes in, then they're already too late. I wait for the inevitable crash and DCA into things that I think might run in a year or two.

As for BTC, I'm lucky to be holding some from mining it way back at the start. I was even luckier to not have lost that original wallet as it was just a nerd project to see what it done, once I seen people were buying pizza with it I let it run for a while. Just before the 2013 run my mining rig kicked the bucket and I just so happened to hold onto the remaining working components, wallet intact.

I don't really know what the point of this post is. I feel like there's often people who just despise the Crypto market for a range of reasons, and in fairness, there are valid reasons. Then there are people who trade in the Crypto market and seem to view any kind of negative sentiment as an attack on their person. I would suspect this is due to the sheer volatility of the market. There are people who don't have a whole lot in life, who have (rightly or wrongly) put everything they've got into crypto in an attempt to improve their lot and this adds a massive amount of stress and anxiety in discussions. When you have posters coming in here and clearly stirring then there's going to be a response.

Don't listen to the influencers. Have a plan. Take profits. Don't get greedy.

silliussoddius

https://www.boards.ie/discussion/comment/121863765#Comment_121863765

Holding on from the early days is some serious diamond hands, I remember reading about it back in the day thinking it would never take of (full disclosure, I never thought internet banking would take of). Personally, if I bought in the early days for a single digits I think I would have cashed out before it hit triple digits let alone the groin wrecking later amounts.

circadian

https://www.boards.ie/discussion/comment/121863908#Comment_121863908

Kind of diamond hands? I dunno, I remember trying to recover the wallet during the first 4 digit boom and missing out on most of it (partly because online exchanges were non-existant then). Good luck I guess. I remember my dad making the point that I should just hold it as in the grand scheme of things I put very little in and markets tend to go up. So that's what I've done, I largely ignore BTC beyond how it affects the market and hopefully I'll end up with something to retire on before hitting 50. I did sell quite a lot in 2017 when it hit $2000 because I needed the cash and had no idea if that was the ceiling or not (turns out not).

There's so many stories of people throwing out old hard drives and stuff from early days of mining and they'd be sitting on tens of millions. I feel for them, they were the true early adopters.

endainoz

Eth continues to look strong, recovering well from each pull back. Next one to go surely?

patsy_mccabe

I have a cousin who years ago, did a lot of work with a charity that helped those with physical handicaps. He was particularly close to one guy , getting to know him well over the years. He sadly passed away a few years back. My cousin is convinced that he had a lot of Bitcoin as he constantly talked about it. He has tried in vain to access it, going through all his old computers etc. His guy works for a large multinational and has plenty of contacts in the IT programming side of things. No joy.

He is still very friendly with his family and he wants to get it for them. Sad really.

endainoz

https://www.boards.ie/discussion/comment/121864470#Comment_121864470

Really it's the modern version of an old farmer dying having loads of cash stashed somewhere and never telling anyone about it.