crypto currency

[QuarterMillionMan]

I just bought $750 worth of Etherium on Ledger and the fee was $21, so what is that almost 3% fee, wow seems high.

[kork13]

Bitcoin was the “anti-establishment” way to move money around and avoid detection by the authorities. Legitimizing it seems like that would make it less attractive to that crowd.

Eh, that'll still happen. Given the inherent security of most crypto currencies, I can't imagine criminal enterprises readily giving it up, regardless of how the trading & arbitrage of crypto gets regulated. But the fat cats can't see an arbitrage opportunity and not try to make money off of it. Plus, it'll give people who pretend they want to 'stick it to the man' (while enjoying their public services & all the rest) an opportunity to feel "in the game" with crypto.

You have to remember, crypto is just like any other token currency -- if you make public the details of its transactions, then it can be monitored & regulated. But if you keep the to/from accounts undisclosed, all that can really be detected (via the blockchain logs) is simply that a transaction occurred...but it generally can't be tied to who actually made the transaction.

[disneysteve]

Good points, today it's not really moving when I thought the tailwinds might have helped it.

Bitcoin was the “anti-establishment” way to move money around and avoid detection by the authorities. Legitimizing it seems like that would make it less attractive to that crowd.

[QuarterMillionMan]

Good points, today it's not really moving when I thought the tailwinds might have helped it.

[disneysteve]

Keep an eye on cryptos being CBOE approves spot ETFs beginning 1/11/24.

Do you think this helps the crypto space? Isn’t the whole point of crypto to have a way to move funds that isn’t regulated or tracked or taxed? Will this just shift more business to other crypto instruments besides Bitcoin?

[QuarterMillionMan]

Keep an eye on cryptos being CBOE approves spot ETFs beginning 1/11/24.

[QuarterMillionMan]

BTC rallying a little bit today.

[QuarterMillionMan]

Trade Station is a Roth IRA which I opened with the max $7500 contribution allowed by the IRS so that account is losing money.

[QuarterMillionMan]

Ledger $26,451
Robinhood $6391
Trade Station $5500
Coinbase $4264
Coinbase Wallet $2000

Mostly all BTC, but also ETH, LTC, Solana, Shiba, etc.

[QuarterMillionMan]

In 2022 it looks like I was buying bitcoin when it was in the range of $18,000 to $31,000 for 1 btc. I recall my balance was about $3000 in 2022 when I stopped buying it and in 2023 now it has doubled so I guess I did pretty well. In 2023, I shifted to buying precious metals instead.

[QuarterMillionMan]

Salting the wound, lol.

[LivingAlmostLarge]

And I should have bought Apple and Amazon 20 years ago.

Most of the time speculation doesn’t pay off but occasionally it does.

I read something like return on amazon since it IPO 178141% total return or 32% annually. Look it up. Crazy.

[disneysteve]

My mistake though all along I've been buying silver coins when I should have been buying more bitcoin.

And I should have bought Apple and Amazon 20 years ago.

Most of the time speculation doesn’t pay off but occasionally it does.

[QuarterMillionMan]

My weekly unrealized gain is approaching + $4000, I'll be busting out the champagne tonight, although tomorrow it could drop like rock and I'll be back drinking Miller High Life, the champagne of beers. My mistake though all along I've been buying silver coins when I should have been buying more bitcoin.

[QuarterMillionMan]

15 minutes after my last post my 1-day gain is $1295 now, wow.