Bitcoin, Cryptocurrency and Blockchain Discussion Thread

[ZeApelido]

That's kinda crazy to think about, if crypto by nature can't be devalued it might end up being better than fiat because it would make it basically impossible to corrupt or manipulate with money printing, so in the very long term it would be more stable as a currency. It would be like all the benefits but none of the drawbacks of a fiat system.

Could cause deflation which is definitely not a positive for keeping economy stable. Potentially bigger boom/bust cycles.

 

[azaz]

is everyone just in straight btc or betting on options/leverage?

 

[Nocturnal]

is everyone just in straight btc or betting on options/leverage?

I'm keeping it simple myself. It's already a pretty speculative thing to buy.

Could cause deflation which is definitely not a positive for keeping economy stable. Potentially bigger boom/bust cycles.

It will gut the ability for governments to respond to recessions or to cool things off during booms. Or... if the Austrians are correct it will lead to an end of the boom/bust cycle. Either way I'd like to be very wealthy before we test this.

 

[Xepa777]

is everyone just in straight btc or betting on options/leverage?

MSTR 2023 options just came out. Hell yah baby let's go hahaha.

Full disclosure: I've had MSTR options since Michael Saylor started becoming Bitcoin Jesus on Youtube, and seeing his history as a domain squatter (www.hope.com) I'm convince he's a forever HODLER. As BTC gets to $100k, it turns MSTR into a leveraged Bitcoin play, even if official Bitcoin ETFs are released.

Also have Bitcoin December 2022 options on LedgerX as well. The fact that I can retire on my Tesla shares enables me to go HAM on Bitcoin hahaha. #ToTheMoon

Happy to chat with anyone in PM further about this

 

[azaz]

definitely gonna look in to ledgerX a bit, 2k stimulus checks could push btc to 50k

 

[Ocelot]

I admit, I am in the, wow this is complicated camp.

Anyone out there know if there is a stock you can buy AND hold in your RRSP/TFSA (Canadian here). ?

 

[Xepa777]

I admit, I am in the, wow this is complicated camp.

Anyone out there know if there is a stock you can buy AND hold in your RRSP/TFSA (Canadian here). ?

QBTC is Canadian. Check that out?

 

[mekberg]

Picked up some MSTR at open this morning in a roller IRA.

 

[mekberg]

As BTC gets to $100k, it turns MSTR into a leveraged Bitcoin play, even if official Bitcoin ETFs are released.

Can you explain how this is leverage? Sorry I’m feeling like a dumdum this morning. Maybe I haven’t had enough coffee.

 

[Xepa777]

Can you explain how this is leverage? Sorry I’m feeling like a dumdum this morning. Maybe I haven’t had enough coffee.

I have January 2023 call options for MSTR hahahaha. Took all my gainz from the Tesla S&P500 inclusion and shoved them straight into MSTR call options.

 

[BigPeePee]

Can you explain how this is leverage? Sorry I’m feeling like a dumdum this morning. Maybe I haven’t had enough coffee.

If you're not willing to play with options, you can also look into GBTC. Premiums spike up during periods of high demand. Last time in 2017 before the bubble popped, premiums were 100%. You can buy GBTC at a 30% premium right now and if bitcoin goes parabolic, premiums will increase along with it.

 

[MXWing]

I sold TSLA covered calls to buy GBTC on accounts I couldn't fund with cash.

It's like picking up gold with one hand, and having your other one cut off.

 

[BigPeePee]

I bet this is the benchmark funds bidding it up. TSLA Options as usual add fuel to the fire. I think it's not just TSLA but the overall market has gone nuts. The whole market seems overextended.

There is definitely a correction coming but I don't know when, who has the crystal ball?. For anybody looking to sell covered calls March 20 1500 are paying 11$(that's 1100 per contract) and the same strike for June 20 are paying 40$. At a stock price of 1500$ TSLA market cap will be around 1.4T. Unbelievable.

You are most likely correct, but so many here believe that corrections don't exist.
A smarter play would be investing in bitcoin and then buying when TSLA crashes 50+%.

 

[BigPeePee]

First of all, nobody here thinks corrections don’t exist. Go pedal that schtick some place else.

Secondly, feel free smarty pants to follow your own advice, while I continue to hold my long term investment shares a long time - like another 9 years.

So the 8+ disagrees I got on my post isn't proof that a lot of people on this thread are delusional?

Also, I did follow my own advice. My bitcoin investment is rising faster than TSLA. Looking forward to getting back in after the mega TSLA crash.

 

[AudubonB]

So the 8+ disagrees I got on my post isn't proof that a lot of people on this thread are delusional?

Also, I did follow my own advice. My bitcoin investment is rising faster than TSLA. Looking forward to getting back in after the mega TSLA crash.

Mmm hmm. And is that before or after Bitcoin crashes?

 

[Zero CO2]

You are most likely correct, but so many here believe that corrections don't exist.
A smarter play would be investing in bitcoin and then buying when TSLA crashes 50+%.

nope... most here know corrections exist ... and tend to provide great entry points .... look at March/April 2020 i doubled my position at that point

this is an investment thread ..... not a safe place for gamblers

 

[BigPeePee]

Mmm hmm. And is that before or after Bitcoin crashes?

Here's my plan.
Bitcoin will keep going up faster than TSLA this year. If TSLA crashes and consolidates at a certain price range for months, I sell my bitcoin and go back into TSLA.
If TSLA goes up, doesn't matter, because bitcoin went up way more.

 

[Chunky Jr.]

Bitcoin will keep going up faster than TSLA this year. If TSLA crashes and consolidates at a certain price range for months, I sell my bitcoin and go back into TSLA.

why would bitcoin, which is pure speculation, keep rising, but Tesla, which has a growing and profitable business, tank? That doesn’t make any sense.

 

[Singuy]

Here's my plan.
Bitcoin will keep going up faster than TSLA this year. If TSLA crashes and consolidates at a certain price range for months, I sell my bitcoin and go back into TSLA.
If TSLA goes up, doesn't matter, because bitcoin went up way more.

Glad you figured out btc is just free money. Why are you bothering with TSLA anyways? BTC never crash. Nothing to worry about. With Tesla you have to deal with a weed smoking crazy Elon who from time to time talk *sugar* about his own stock.

 

[j6Lpi429@3j]

I always find it weird that so many people in tesla are also keen on bitcoin. They seem like total opposites. Tesla is physically building useful stuff, and working hard to reduce our dependence on fossil fuel energy, and is obsessed with efficiency, efficiency, efficiency.
Bitcoin is a currency you cant use, based on burning energy to do pointless cpu-grinding calculations and has a colossal, wasteful carbon footprint.

I just don't see the venn diagram with anyone in both camps, unless they are climate-change deniers who like fast cars maybe?