Cryptocurrency is a great investment - my portofilio just risen by 40%
- Thread starter Tsunami
- Start date
AlexBrown84
INFP - 22 years old - Been to 30+ countries
- Jul 31, 2022
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@eduardkoopman how much did you make
Hard Boiled
Seagull Seancer
- Jul 31, 2022
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Crypto is a scam. I hope you have a solid exist strategy.
Hard Boiled
Seagull Seancer
- Jul 31, 2022
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Tether lies about it's liquidity, once the market realises it's broke bitcoin is finished.
Tsunami
Well-known Member
- Nov 16, 2023
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I'll probably sell when BTC reaches 60k in value.
Tsunami
Well-known Member
- Nov 16, 2023
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My exit strategy is to convert my BTC and other volatile currencies into USDT at around the $60k mark. No way am I gonna convert it into fiat Jewmerica currency and get taxed JFL
6"8_With_Tall_Girl_fetish
Well-known Member
- Nov 10, 2023
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Bitcoin has like 50 percent fees and thats not including tax 
every cryptobroautismmaxer
Mark_Rippetoe
Well-known Member
- Mar 24, 2023
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Speculation is not investment. Yes, people can make a lot of money on speculation. They can also lose a lot of it suddenly, and far more often they do. Something like 70%+ of cryptocurrency owners lost more money than they made. And just to put this into perspective, EVERY guy thinks he's educated about the topic and everyone else is a bumbling fool.
Personally, after the revelations about Tether I wouldn't touch Bitcoin with a 10 foot pole. Way too risky.
Personally, after the revelations about Tether I wouldn't touch Bitcoin with a 10 foot pole. Way too risky.
eduardkoopman
Member
- Dec 2, 2023
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not enough yet
eduardkoopman
Member
- Dec 2, 2023
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tether and bitcoin are unrelated.
It's like saying that Tesla electrical cars will be finished, when people find out Hyundai lies about the actiradius of their shit electric cars.
unrelated to each other. to an extend correlated.
Tsunami
Well-known Member
- Nov 16, 2023
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It's not really about investment. Most of the crypto I have is purely from earning it online and not paying tax. That's the greatest thing about crypto - being anonymous.
Hard Boiled
Seagull Seancer
- Jul 31, 2022
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Your car analogy fails to explain how speculation works. Speculation markets are connected. A better analogy would be the USD federal reserve increases inflation rates so the EUR becomes stronger in buying power.
Also, 45% of Bitcoin transactions are in tether (https://www.cryptocompare.com/coins/btc/analysis/USDT#:~:text=BTC Volume by Currency). If tether fails 45% of Bitcoin's liquidity fails, which is its biggest liquidity provider.
Mark_Rippetoe
Well-known Member
- Mar 24, 2023
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Que???
But its not anonymous. I'm really baffled by why people believe this. Bitcoin for example, is totally transparent, was designed from the outset to be so; a perfect ledger where every single transaction is recorded in perpetuity - this was supposed to make it hard for governments to lie about where the money is going.
There's nothing anonymous about it, and blockchain analysis has been used by the IRS to make seizures. As cryptos go, BTC is by far the WORST for privacy.
On the other hand, Monero is an actual privacy coin, but if you're using exchanges or other USD on-ramps to acquire it, it's still leaving a comically big question mark and trail.
Tsunami
Well-known Member
- Nov 16, 2023
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Yeh it isn't but anon enough for tax collectors not to find out ofc
eduardkoopman
Member
- Dec 2, 2023
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true speculation markets have a significant level of correlation(s)
If Tether goes partly or fully fucked up/depegged, that would be a massive blow to the cryptospehre. For sure Bitcoin price will have at least a shortterm big dump.
To add, the 45% of transactions being in tether, is a bit skewed info. Due to the fact, that in many exchanges, one can't buy Bitcoin directly with bank/creditcard (or get fucked over on fees). And they only allow to directly buy USDT for example.
On Kucoin for example, muh main exchange I use. When I wanna buy bitcoin with muh bankcard. I always first go to buy USDT on their platfdorm with my bankcard. And after that, I buy with that usdt muh bitcoin. If they make it more easy, or decent fees, to directly buy bitcoin from muh bankcard than I would gladly do that directly, and skipp that middle step of buying usdt first. I am quit dure/positive, alot of guys in crypto, do it like that also and experience that same issue, of it beung hard to directly buy Bitcoin from bankcard. But is being made easy, to buy usdt with bankcard. and one can than after that, easily trade usdt for bitcoin
Tsunami
Well-known Member
- Nov 16, 2023
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on my way tbh, very close
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