Prescott, WI
Wondering how many others are into the yield farming on their bitcoin?
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3 weeks later
Quoted from cooked71:Was reading somewhere that a huge % of Doge is held by only a few……..and 30% of Doge is held by one person and that’s currently worth $33b or something. Crazy.
Lucky for them it’s highly traded…..they could liquidate it fairly easily over time. I would have been well and truly out by now instead of holding on for more.
Edit: also just read they “mint” 10000 new doge per minute!!!!! Ridiculous for a coin that has no use.
How can so much be owned by one person when they can make infinite amount of it. I do not believe there is a finite amount of DOGE, thus not a true crypto. I love frustrating my daughter with how great DOGE is though.
Quoted from Baiter:There's a lot of FUD surrounding Bitcoin energy usage. What's the price of security? Bitcoin is the most secure network in existence, isn't that what we want? Let's talk about how much energy is used for military operations in peace time, or how much energy is used by the physical banking system that crypto can replace. We could be here all day dissecting this hypocrisy.
A lot of Bitcoin mining is already carbon neutral or using energy that is otherwise wasted. I went over more details in this post:
https://pinside.com/pinball/forum/topic/cryptocurrency-and-decentralized-finance-defi/page/20#post-6216768
PS: This statement came from the head of a solar company that has the ability to deploy 100% carbon neutral solutions for bitcoin mining. There's got to be something else at play here because what he said makes no sense, particularly disparaging a blockchain proven reliable for over a decade while at the same time pumping a meme coin. smh
I am no Elon fan, he may have done this to drop the price and buy up more. He is a visionary and sees the future better then most and crypto is a winner. He sees it, drops the price, buys on the dip he made and profits.
Wait til he comes out next week or next month and says he bought a crap ton more of it.
3 weeks later
Quoted from Astropin:I'm willing to bet the bull market is not over...any takers?
The bet would be made in BTC.
I'll bet we still hit at least 100k...this year.
Bet size 0.1 BTC. (Just for total clarity .1 BTC would be = to $10,000 usd if it is at 100k).
Actual bet payout would be made on January 1st 2022.
That means if the price on that date is 200k, the payout would be = to 20k. If the price is 55k then the payout (assuming Bitcoin hit 100k earlier in the year) would be = to 5.5k.
If it never hits 100k you win, and I pay you 0.1 BTC on January 1st.
So how would you like to do this? In a escrow account? I say we have a third party each hold our .1 and then pay out the .2 to winner?
4 months later
Quoted from Pdxmonkey:I have a brand new Trezor (only the bet funds will be in it) and can be the third party if you guys want. Then you can check the account anytime. No charge but if you want to do a small tip that’d be cool.
As a fail safe I can give each of you half the pass phase words
I am in as well.
This is awesome, hell if it hits that by years end I will be happy. My Atom has worked out well.
Quoted from Astropin:Yeah, sure. The bet was if it hits 100k at any point before Dec. 31st 12:00 EST I win, if it doesn't you win. Bet paid out in BTC on Jan 1st 2022. We would just need a way to guarantee the payout.
Yes 100% get that, if there is one fluke run up to 100k and it is there for 2 seconds and plummets back down to 80k I lose you win! Might have to flip both my Zillas if I lose 
Quoted from Pdxmonkey:I have a brand new Trezor (only the bet funds will be in it) and can be the third party if you guys want. Then you can check the account anytime. No charge but if you want to do a small tip that’d be cool.
As a fail safe I can give each of you half the pass phase words
Well we will at least pay for the Trezor. I will also check with my Daughter she is speaking next month down in Miami at the Bitcoin conference. It may be the first time a girl has ever presented their. Proud papa!
Quoted from Astropin:Okay...let's iron this out a little. How about, it has to stay above 100k for at least 30 minutes...that takes out any instant spikes. Let's use Coinbase Pro as the official exchange. Fun bet.
So Pdxmonkey...we both send you .05 BTC to the address you provided yes?
Sounds awesome and very fair of you! Although my daughter thinks I will lose this bet, I am running with my grey hair and gut. Plus if it hits 100k I will be one happy mother forker.
Agree it is .1 each and heck I guess it is only one pinball machine. And I do not drink but one day when we meet up I will have several!
Thanks John
Quoted from Pdxmonkey:Both sides of the Bitcoin 100k in 2021 bet are funded.
Good luck gentlemen.
Thanks for your service. Man I hope it hits 100k, I will win bigger that way, then this bet. Good luck Astropin we shall meet up one day.
Quoted from Astropin:Bitcoin has had 5 major drawbacks of over 50%. The most recent one was 56%. If it recovers only half as much as it has in past corrections (on average) it would peak at 300k this cycle. Think about that for a second. Even if it only recovers half as much as it did from just the previous downturn it would reach 125k this cycle.
Do you have a chart on this? I would enjoy looking at it. Do you subscribe to the top dollar amount it can hit with the amount of wealth out there to purchase it? Like how gold is basically topped out, and will go up with inflation? I thought those numbers were just above 200k.
Quoted from Astropin:Personal choice, to my knowledge coinbase has never been hacked. I personally would pull that much off. It's 6800 now but could be a lot more by the end of the year.
Would it proper for me to down vote this? LMAO!!!
Quoted from Astropin:Bitcoiners refer to people who have not bought Bitcoin yet as no-coiners.
I disagree. There are no "no-coiners", only pre-coiners.
"Those who get to where everyone is going first, benefit the most" - Robert Breedlove
Bitcoin is still under 5% global adoption; but, is being adopted at a faster rate than the internet or cell phones.
Thought it was “HFSP”
1 week later
Quoted from Astropin:You're good...spot ETF's have not hit the US market yet. Things will go boom when that does happen.
I don’t think so. Crypto ETF’s and how they price them on projected future value is a scam. When the common man hears ETF they think “SPY” well they aren’t even close on how the operate and how they get priced out.
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6 months later
Quoted from zermeno68:From your perspective, is it still good time to invest large amount in BTC given its bullish movement lately? Hard to tell if this is a massive trap for the ETF approval.
LOL if you are a long term investor does it matter? If you believe Bitcoin will make it nope buy now, if you don't think Bitcoin will make it stay away.
Be disciplined and do a long range plan and buy in over time, and accept the fact you may be paying double next year, but it will be safer.
IMHO Bitcoin is a place to store wealth not a investment to make money on.
I am very bullish on BTC over time, I am not thinking US citizens are smart enough for Bitcoin though. Most US citizens like government control and accept inflation. If the majority of people did not want want government control or inflation they would be all over it and be in BTC, the reality is they are not - yet 
So one more time if you are looking for place to store some wealth buy BTC, if you are playing the market to make some money in the short term do not buy it.
I have a lot into Bitcoin and if it vanished tomorrow it would not affect my financial life one bit.
For me to be disciplined I need to stay away from dailey news on BTC this is the first time I have not opened this thread in more than 6-9 months.
Quoted from Jagrmaister:Don't pay this any mind. It's worthless. Fake internet money. That'll be the day!
So do you think the banks have enough cash to pay out to every account? Hint No it is digital in your account so what do you have? numbers on a bank computer screen on a server?
What do you own when you buy a stock or mutual fund, do they send you a certificate of stock ownership? What do you really buy on that stock trading platform? A number a digital number? Housed where? Who has this?
Quoted from Jagrmaister:Of course they can pay me out. They're the bank and backed by the Fed. And they can always just have the Treasury print more if they don't.
Love my stocks. Rock solid companies with physical assets. Nothing beats brick and mortar with solid people leading the charge for actual profits into the future.
If you've got Bitcoin, what do you have? Nothing. Numbers on a computer screen. And who's to say the devs don't just get together and decide click* click* there's actually 210M BTC? Or 2.1B? Who's to stop them?
No thanks. I'll put my faith behind government backing and military might of the good ol' US of A! Have fun with digital tulips.
My question remains what do own or have for your stock purchase? Who holds it? What are they holding?
Quoted from Jagrmaister:Well, I suppose my broker buys stock upon my decision to do so and puts it into my portfolio. Then I own a piece of company capital. That pie is mine. And then at any time I can liquidate pretty easily for USD.
So does your broker get your stock certificate? What does your broker actually get? I have mutual funds and stocks and really do not know what they get when I purchase stocks or ETF's. I am guessing the broker gets some numbers on a screen saying client number owns x stock numbers xxxxx.
Where do they keep your portfolio? In a cabinet? Paperwork backing up you stock?
Maybe this will be easier:
What is your "pie" physically made up of?
thanks for taking the time to answer
2 weeks later
Quoted from pinballinreno:Im down 95% on my crypto, I imagine it will stay that way lol.
You have done well! Most people have lost most of their investments.
Crypto can be a big expensive casino. You play, you lose, you go home!
Imagine this, my wife is our account and crypto buyer seller.
Hey honey buy 10 more bit coin okay no problem, a year later wow that was good, look at the account she decided we should only buy 3 more ha ha ha ha such is life!
Couple less NIB machines for me
Quoted from taylor34:Didn't you lose a bet on Bitcoin hitting 100k like 2 or 3 years ago?
I don't think that has any relivince at all on the price of Bitcoin and quite honestly is a cheapshot.
I am will to bet you bitcoin will hit 100k
Quoted from taylor34:I'm not sure how it's a cheap shot, everyone (literally everyone) in this thread is saying I'm completely off base currently by worrying about the law of large numbers and that bitcoin is going to a million rather soon. I was just pointing out that 2 or 3 years ago 100k was a 'given' and that it didn't pan out...and then there was the NFT thing in this thread that also imploded. And I was raked over the coals for saying that staking didn't make much sense when the asset you're staking for 6% can move 6% in a single day plus you have other risk from the exchanges (plus you're illiquid), and I think for the most part that has played out as well.
This thread is actually making me reconsider my bullish position in the asset (short term)...when everyone is 110% bullish, usually that marks some sort of a top, like everyone is front running the ETF approval. Maybe it's nothing though and this group does not represent the market as a whole. I do think bitcoin will hit 100k in the next couple years barring some sort of financial crisis. But being so bullish that you can't consider the alternatives is generally not a great idea, it's how people get wiped out usually (like Saylor was close to last year, one more move down and he was in serious trouble).
BitCoin will hit 100k it is just a timing issue and the run ups and scandals have helped bitcoin in the long run IMHO. It did not pan out in the time frame but will pan out IMHO.
This group is not a true cross section way to bullish from the mean.
Do you hand a stranger 100k cash or a bar of gold? If you do you are going to get scammed dah.
I hear what you saying there is a top and right now I have the top at about 600k, mostly believing in lots of what you are saying and my daughter who is working with Vitolic on the next gathering Prospera in Rotan Honduras.
1 month later
Quoted from Astropin:Probably...maybe we can still come up with something interesting?
Way to much runway in front of December 31st. 200k is very possible this year.
I do not think the halving event is going to do much and the sell after the news will give me another buying opportunity in the 35-45k range. Halving sounds cool, is a easy term to people to latch onto, but they do not understand it I hardly do . Halving today is way different for the market than ever before so who know what it will do. I could be 100% wrong on this.
The new reality will be seeing how the bigs, ETF's chase out the dumb money through price manipulation. DO NOT sell in a down market BUY that is what they will be doing! I know one thing for sure now. In my life I will be adding more at each correction dip and laughing someday how cheap we bought this stuff below a 100k. I want to buy a lot more of this stuff and have some powder, but my portfolio is a bit to heavy in BC now (I love it)
What other investment assets can not be debased?
What other asset can your hold in you hand and control yourself without a big bank or institution FUCK THEM!!!!!
I am getting way to involved again looking at price, looking at this thread etc. Long term goals cannot have short term stuff affect your goals.
Bitcoin may turn out to be bigger than the internet long term. The doubling stuff is the only reason I see these crazy predictions of 1,000,000 per bitcoin. 5 double ups and we are at 1.6 mil per coin. 50-100 100-200 200-400 400-800 800-1,600
I have some ETH as well and have not and will not buy any other coin. Maybe I am dumb and do not know enough but I call them shit coins. People need to believe in them, not just sound good or cool.
Funny part is BitCoin doesn't care it is emotionless. FTX melt down, no biggie just a scammer who helped educate a lot of people, Bitcoin has and will always bounce back. With the SEC approvals I see nothing but upside (with ups and downs). The US government was dumb, Bitcoin will become the worlds currancy due to the USA validating it and making legal and investable.
I gotta quite looking at the news on BTC urgggggg................... For five years!!!!
One last thing BitCoin is a safer investment today than it ever has been.
Quoted from Astropin:We are pretty much on the same page. One minor concern I have is that the ETFs will continue to gobble up the supply...not just the current available supply but most of the total supply. Effectively capturing the market. That will still drive the price up for the foreseeable...but would lock Bitcoin in as a commodity and wipe out its use case as a currency.
Consider what most funds will do that hold bitcoin, not the ETF’s as Bitcoin goes up they need to sell it to keep their percentage 2-5% of Bitcoin so they will at times be selling it as well (stupid).
1 week later
1 week later
Quoted from Astropin:Yes...but, It's just so difficult now with the introduction of the ETF's. Nothing would surprise me form here. Seriously...$200k-$1M in play for this cycle. The ETF's have changed the game.
Okay the day you’re ready hit me up.
I told my daughter today if bitcoin was a baseball game the mascots just got one the field before the first inning!
I’ve never wanted to live just to see how something does until now. I’d love to see Bitcoin in 50 years.
Buy and hold bitches!!!
Quoted from Anony:I think an argument could be made that we're still in the disbelief phase.
If you're paying attention to the crypto world it feels like a mature market but if you step outside of that bubble 99% of people in the real world have no clue what crypto actually is or has any desire to get involved.
There's also a good chance that some nation states have been quietly accumulating BTC and when we find out it will push institutional and retail investment higher.
Bigger difference today than 3 months ago virtually all government acceptance risk is gone.
Every country will fall inline with the UsofA
Bitcoin is safer to own today then ever before
Hmm the latest is Russia and China using Bitcoin instead of USD for trading, this would trickle down to most international trading. And Bitcoin will go nutz.
How do I settle down, I want to dump more of my portfolio in to Bitcoin but how much is to much as a percentage????? Urgg I love this stuff to much, once a person get emotional about something it usually shits! Buyers beware!
21 million in the world, wealth is all relative, how many do you own? (not number) enough???
Quoted from Astropin:What is your conviction level and what is your timeframe? That's how much you should own. I'm about to turn 57. I used to do the Ol' 60/40. In 2021 I sold all of my bonds. I'm still 60/40 it's just BTC/S&P 500 index now. But, I have no plans to ever rebalance. So, in short order that's going to look more like 90/10.
My hope/plan is that I can just borrow against my Bitcoin in retirement. No taxes on a loan. If cycles continue I'll borrow at the bottom and pay back at the top. If cycles don't continue we are likely at a MUCH higher valuation and it won't matter. The CAGR on Bitcoin should completely erase the old 4% withdrawal rule...at least for the foreseeable.
Conviction emotional level 98% Convictional brain level, 75%
Time Frame is such a weird question with bitcoin, endless, I see no use in EVER selling my bitcoin. That may be the first time I used all caps on this site (unless joking). I have never had a investment of anytype I viewed as endless. Weird really weird.
I just retired with a couple nice defined benefit plans and a solid defined contributions plan as well. Free healthcare at 62, 1/2 price now.
I also have a "F" "U" fortress of liquid stuff.
Zero in bonds or stocks at this point and would instantly buy in, in a crash.
I am definitely not at 90-10 more like 40 F U fortress, 20% BC 40% real estate.
COLA will be zero for BC holders in the future I believe. I am ignorant on the taking of loans against my BC. Is that a viable option today?
Never forget the simple rule of the human mind, it is way easier to make a mil than keep it!!!! A, F U fortress is never a bad idea 
Quoted from Astropin:And this was with nearly $600M outflow from GBTC!
Can you imagine if supply dries up! Hope you can retire early.
Not to be used as a betting number but what’s your SWAG for an end of year high? Conservative guess and bullish guess?
Quoted from Astropin:Hey @JohnTTwo,
How about $1M Bitcoin prior to 2030?
Hmmm. my wife is my accountant and bitcoin processor, in our last bet she kinda freaked out a bit. .1 BTC do you know how much that is? Yes I do honey and if it hits a 100k you will have a new diamond ring! Needless to say this week as I was buying more Bit she is a little wacky again. Thinks we are way over loaded in it. LOL This will be discussed and I will reach back and touch base with you on this. So funny thinking how the loser of the bet will be paying 100k plus or minus a couple 10k either way. So funny and epic I wanna do it soooooo bad! But need to settle down talk with sweet thing and see what she says. And if either of us die the other person get the bit no matter what! Hey honey it is kinda like insurance. I would like to have an annual bet on it, if your not comfy with .1 BTC we can drop it down to .01 or .001
1 week later
Quoted from taylor34:I don't know what the motivation for a central bank would be to adopt a currency that competes with their own would be. Gold works because at some point in the past 50 to 100 years ago it shifted from being money (minted coins) to more of a reserve asset. Bitcoin's story changes all the time, first it was going to be a currency (until slow transaction speed caused that to be no longer feasible) and now the story has shifted to be more of a store of value (while some people still and push the transaction part). I just don't see why a central bank would pick Bitcoin over gold unless they were trying to speculate. Because gold:
is proven
is safer to hold in your own country
can't be hacked
doesn't depend on a network, an emp isn't going to destroy it
It's terrible for transactions (gold) but that's not what central banks use it for. It needs to be able to survive for decades/possibly centuries. You know gold is going to be here in 100 years, but Bitcoin seems unlikely due to computing advances, which is why it's not suitable for central banks...they can't have an asset that's supposed to be backing their currency have the risk of going to zero in 20 to 30 years (or fluctuating up and down so much). It's much the same reason that some things are better suited for loans than others. Real estate is pretty steady and it's not going to fluctuate more than 5% to 10% a year most of the time, so it's easy to make loans on it. Unless you're Saylor, you're not getting loans on assets that can down 75% in a year, and you can't have your reserve asset going down 75% in a year either on a constant basis.
And the argument might be, well if it gets to 500k the volatility will go way down and that's when it would be appropriate. If that's the case, who is going to want to own it in the general public? We're all just speculating on it going higher faster than stocks/other assets, and the second it acts like gold/slow appreciation everyone is going to drop it like a rock as you'd be better of holding stocks as they go up faster than gold usually.
Like if this halving it only gets to a 2x gain from last cycle, there's going to be less and less reasons to own it honestly because levered stock things like TQQQ would start to outperform it. It's valuable because of the asymmetric return profile to me and that's it, soon as that goes away then I'd have no reason to own it because stocks would do just as well.
Gold can’t be hacked (Stolen)? Interesting
1 week later
The
Quoted from phil-lee:How does that work?
Do you get twice the amount of coin?
Or does the value cut to half? Or twice?
Every day right now 900 bitcoins are put into circulation.
After the halving 450 bitcoins per day will be put into circulation
Quoted from phil-lee:One more question and I'm done.
Where is the server? Does Bitcoin have a central server like a Business or University?
Who owns and maintains it?
please feel free to ask as many questions as you wish. If people can’t answer you bitcoin questions it’s not worth owning.
Quoted from JohnTTwo:please feel free to ask as many questions as you wish. If people can’t answer you bitcoin questions it’s not worth owning.
Twice on the last 2 pull backs. I will be dollar cost averaging in for the next 12 months. When it hits a huge drop I may just dump it all in.
Astropin My wife and I have decided we will be giving out BTC as our wedding gifts to kids we know getting married. Funny an old guy and gal will be giving youngsters new tech. I love the irony.
I was thinking of just a basic wallet under a hundred bucks and then giving them full custody with a treasure map. I just want them to get with the times any ideas or thought on this or how to do it better?
Quoted from Markharris2000:I am just jumping into crypto and hear that April 19th is a 'halving" or reboot event. I have been reading about buys, exchanges and swaps and find hundreds of coin plays, and lots of sites, but its overwhelming to say the least. I opened a Coinbase account and spent a few hundred $ to get some BTRST and ETH to see if I had everything setup correctly, but not sure those two are the big plays. And it seems like different coins are available by different purchasing means.
Is anyone willing to walk me through what would be needed to position for the 19th, kinda step by step?
The halving is not a reboot. I would suggest reading this entire thread thoroughly. If you are trying to do something special for the 19th I do not know what that would be. If you find out what or how that day will have a certain impact, please let me know.
Quoted from Markharris2000:I am not usually swayed by advertising gimmicks, but I looked into his last 10 years of recommendations and he seems legit. The April 19 Melt-up he talks about seems opportunistic. https://stansberryresearch.com/articles/get-ready-for-a-crypto-melt-up
Aside from the 4/19 date, I've been on the sidelines of crypto far too long. Seems like I should become involved.
Well actually I look at the birth of Bitcoin being real January 2024, it is just the start in my eyes. How many people you personally know own any bitcoin? That should tell you how early you are into it and its growth potential.
Quoted from Astropin:I cannot, and will not.
Now now now Astro!!!!! Have you ever heard a person say that about bitcoin? I have, and I just think of them being close minded.
I just can figure out the Meme investing. I want to have an open mind about everything in life.
IF there are some fundamentals on how to value them, why they are valuable, why they are smart to own I would love to learn about them.
I am not one who goes to the casino, I buy at most 4 lottery tickets a year...... etc.........
But I want to have an open mind
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