Cash out my Bitcoin?

[ArgentSmith]

4 hours ago, Mightymogs said:

One of my main concerns would be cbdc overtaking it and rendering it obsolete. 

Bitcoin is the antithesis of the planned CBDCs. I would suggest you cash out.

[Mightymogs]

42 minutes ago, ArgentSmith said:

Bitcoin is the antithesis of the planned CBDCs. I would suggest you cash out.

Yes granted. But I have a sneaky feeling that a lot of money invested in BC will move over bringing the price down, as it will be such a safe option. Any love for an uncontrolled medium will fast disappear once money is made. It's a well hatched plan.

[ArgentSmith]

2 hours ago, Mightymogs said:

Yes granted. But I have a sneaky feeling that a lot of money invested in BC will move over bringing the price down, as it will be such a safe option. Any love for an uncontrolled medium will fast disappear once money is made. It's a well hatched plan.

Any money in BTC that sees CBDCs as a "safe option" should be already be in fiat.

PS  CBDCs will be pegged to fiat 

Edited August 1, 2022 by ArgentSmith

[ady]

Funny how we are all thinking "what is currency" knowing what a crock of s--- the present system is. Sure many crypto will tank and bust, and believe gold and silver will make the correction for all the money printing eventually as seen in the past. Crypto has an ally in that the tracking device the mobile phone makes it an ideal form of payment.which the up coming generation will embrase. Love porridge which just shows you what a currency can become!

[Stacktastic]

On 01/08/2022 at 09:59, Arganto said:

yes it could get worse but it could also climb past the point of your initial cash investment.

Obviously I dont have clue, but if I had to put money on it, I would bet (short term) a reasonable move up then back to $20k and below. 
Bounce around that region for some time I would say - a lotto people got in around there first time around & recently. 
Takeout that low and a lot of stops get hit or the hodlers will cut their losses. CBDC & any regulation - $3,000 or even under $1,000.

21 hours ago, Mightymogs said:

One of my main concerns would be cbdc overtaking it and rendering it obsolete. 

100% on the cards & been in the planning a long time ago. Anyone that thinks it is like open source is a fool.. Dont fight the fed. 
The question I have is will they take over bitcoin, setup along side it on the network, or come out with a completely new system and ban it? 
Either way its worth a few grand risk especially if its been smashed down through the general equities markets & not regulation. 

19 hours ago, Groundup said:

BTC to  8-10K... then × 8-10 pump... then dump..... Then zero.... Buy when the market is fearful . sell when the market greedy. 

Right now I'm fearful so I buy PM's.

😛 well said. 

17 hours ago, Bigmarc said:

It's easy, no need for research, no need to put your own money in, no need to learn the market at all. All you need is a graph, some gossip for the guy down the pub and your an expert. 

 

Thats hilarious 😛 - i have to laugh when you see traders using all the tools and stuff, when all they need is a line or two. 

I don't even use moving averages. I guess it  depends on what they are doing though. 
Also charts are fascinating to me as they show human emotion in someway - millions of people reacting (excluding bots). 
Plus its taught be to be patient and hold my nerve & to also manage my emotions which has massively affected my 'real' world life.

For everyone saying that charts are useless or stupid don't understand them - they are very accurate. 
But I 100% understand the sentiment, as the internet is full of people pumping stocks and stuff using charts (like me LOL). 
I have been watching daily analysis (every morning) from Gareth Soloway for over 7 months now
& thousands of hours outside of that (probably).

One example:
I look at the QQQ everyday and draw a line & it hits the point I draw at least 8 out of 10 times now and reverses. Only comes from experience. 
While the rest of the retail market are wondering why their day/swing trade has stopped going up Im cashed out and sitting in the garden. 
The market is full of idiots like me that have chucked a few grand and dont know what they are doing - so having a reliable tool is fabulous. 

Im spending $1,200 on a set of his advanced courses on charts. Not a decision i have taken lightly thats for sure.  
I spent a year eciding to use his service or not and 7months on that.

16 hours ago, ArgentSmith said:

Bitcoin is the antithesis of the planned CBDCs. I would suggest you cash out.

Good advice, especially if your not too far underwater.
Sit it out and wait or buy the miners on the next pullback. 

but average in 25% and increase the more it gets over sold & manage the risk.  

Edited August 2, 2022 by Stacktastic

[LawrenceChard]

13 hours ago, ArgentSmith said:

Any money in BTC that sees CBDCs as a "safe option" should be already be in fiat.

PS  CBDCs will be pegged to fiat 

Any money in BTC that sees CBDCs as a "safe option" should be already be in gold.

Some  CBDCs might be pegged to precious metals.

😎

[LawrenceChard]

1 hour ago, Stacktastic said:

Also charts are fascinating to me as they show human emotion in someway - millions of people reacting (excluding bots). 
Plus its taught be to be patient and hold my nerve & to also manage my emotions which has massively affected my 'real' world life.

For everyone saying that charts are useless or stupid don't understand them - they are very accurate. 
But I 100% understand the sentiment, as the internet is full of people pumping stocks and stuff using charts (like me LOL). 
I have been watching daily analysis (every morning) from Gareth Soloway for over 7 months now
& thousands of hours outside of that (probably).

I look at the QQQ everyday.

Good advice, especially if your not too far underwater.
 

I few years ago I spent a few days closely watching charts and a graph of my heart rate and pulse. It was fascinating, and helped to pass the time.

You are right that emotion was reflected in the reading, and vice versa.

I thought QQQ was what many TSF members did when a new Royal Mint coin issue gets launched.

And if you are "too far underwater", you should have got out earlier, but it may not be too late. It is advisable to exhale steadily on the way to the surface.

😎

[AurumArgenti]

I don't understand why people are comparing CBDC to crypto?

They are very different in concept and underlying technology. 

It's my understanding that CBDC are just a digital fiat ledger. They are the first steps in a move towards a cashless society that is a 100% monitored and controlled on what and how you spend their fiat. Probably soon after a forced social credit system which will tie straight in with CBDC (Be very worried).

The digital Yen already exists and isn't a speculative investment with no use case other than more control for the CCP.

CBDC do not solve many of the problems that ETH (DFI/NFTs) or what Ripple is doing with XRP(XRP being a bridge currency) in the cross boarder remittance payments sector for instance.

 

BTC sucks as a payment method. It's very slow, expensive and energy intensive. 

That said it is outside of any single governmental direct control which has a value of it own many believe.

Governments don't give a c**p  about BTC other then it's just a escape goat and distraction from thier own shenanigans. 

 

 

 

[stefffana]

On 31/07/2022 at 20:58, Mightymogs said:

Question is, do I just cut the albeit small losses and just buy PM with it all? 

Yes.🤗

Edited August 2, 2022 by stefffana

[Bigmarc]

18 minutes ago, AurumArgenti said:

CBDC do not solve many of the problems that ETH (DFI/NFTs) or what Ripple is doing with XRP(XRP being a bridge currency) in the cross boarder remittance payments sector for instance.

Finally some positivity.

Cbdc will replace the stable coin at most. There are some great projects being built and the nft use case has only just begun. I agree completely on bitcoin but currently is the market leader.

[ArgentSmith]

38 minutes ago, AurumArgenti said:

BTC sucks as a payment method. It's very slow, expensive and energy intensive. 

When viewed as a settlement layer/system BTC suddenly becomes incredibly cheap. Obviously secondary layers like lightning deliver speed and super low fees.

Bitcoin has the best liquidity and is the most secure protocol know to man in the entire history of the Universe. 
 

As an individual or fin tech company you can settle a billion per day on chain for just a few quid.

think about the implications moving forward.

[ArgentSmith]

3 hours ago, LawrenceChard said:

Some  CBDCs might be pegged to precious metals.

I don’t understand what the motive would be unless you are thinking of the PBOC in which case very likely IMO.

[LawrenceChard]

10 minutes ago, ArgentSmith said:

I don’t understand what the motive would be unless you are thinking of the PBOC in which case very likely IMO.

I keep having to looup all the acronyms on the thread.

PBoC People's Bank of China.

I was not thinking about that, just the concept of a currency / value base for crypto, or any other currency for that matter.

😎

[AurumArgenti]

1 hour ago, ArgentSmith said:

When viewed as a settlement layer/system BTC suddenly becomes incredibly cheap. Obviously secondary layers like lightning deliver speed and super low fees.

Bitcoin has the best liquidity and is the most secure protocol know to man in the entire history of the Universe. 
 

As an individual or fin tech company you can settle a billion per day on chain for just a few quid.

think about the implications moving forward.

I've paid some pretty disgusting BTC network fees when its been congested. The same goes for ETH to be fair. Thank god ETH is moving away from proof of work.

I've been literal waiting hours for transactions to show up and get confirmed which I can tell you isn't a nice feeling.

This can't be the future. Certainly not for enterprise companies and so on.

Sorry but I no longer can buy into or read from the Michael Saylor and Max Kaiser rhetoric maxi book. 

The lightning network is pre-funded and centralised. Which many btc types are often bang on about being the benefit of btc? There are many drawbacks like both parties needing to be on line at the same time to send on the LN.

BTC has its place for sure, but it can't be the future of payments.

The digital gold myth has gone quiet of late too.

 

 

 

 

 

Edited August 2, 2022 by AurumArgenti

[Bigmarc]

7 hours ago, Stacktastic said:

For everyone saying that charts are useless or stupid don't understand them - they are very accurate

So how is the chart telling you it's going down to 1000 dollars? 

[Stacktastic]

22 hours ago, Bigmarc said:

So how is the chart telling you it's going down to 1000 dollars? 

Hi Mark.
Thats not due to charts, you cant really accuracy chart crypto longer term as its so volatile & has next to no history. 
it will and can get to there or even $100 if enough people get spooked - just look at META (or similar) recently. 
Not looked in any detail at crypto lows as we are knowhere near that point yet, so I am not wasting time on it.  

@Mightymogs I have not been actively trading recently, but what I do know is that its potentially a chop fest for a bit. 
Fed is not making any announcements for a few months & so far the big stock earnings have been good.  
If things are calm (lets face it its a rigged game and we have mid term elections soon) then you could get out or reduce your risk?
Not knowing your average price I dont know your situation - so its pretty much what I would do. 
Personally I cant see crypto going far above $25k but what do I know?? Or anyone else for that matter. 

to put it in context I have been sitting on Paypal 3x leverage for a couple of months up to 85% (28% normally) down at one point. 
I have lost on one stock out of about 70-90 & this is one of 2 swings I am underwater with.
So I used a bit of logic. its a solid stock thats highly over sold - so at some point in the next 10 years it should perform. 
It kicked ass in earnings yesterday - im still 66% (-22% at normally) down now. Im now in a similar position to you. 
If I see major down turn and its at, lets say -15% do I sell??

I am watching the pre covid highs though as a massive bounce might occur. 

Macro wise the Taiwann stuff is possibly next, more tightening & all the other BS narratives going on (civil unrest, food shortages or whatnot). Confused? so am I, which is why im out for now. 😛 

Edited August 3, 2022 by Stacktastic

[Bigmarc]

1 hour ago, Stacktastic said:

Hi Mark.
Thats not due to charts, you cant really accuracy chart crypto longer term as its so volatile & has next to no history. 
it will and can get to there or even $100 if enough people get spooked - just look at META (or similar) recently. 
Not looked in any detail at crypto lows as we are knowhere near that point yet, so I am not wasting time on it.  

So no substance at all then. 

I'm actually bored of reading you trolling others investments with absolutely nothing to back it up. 

Go and join minimalist in the ignore list.

[HillWalkerDundee]

On 02/08/2022 at 11:44, LawrenceChard said:

 

Some  CBDCs might be pegged to precious metals.

😎

Russia's CBDC, the digital rouble, to be trialled by twelve banks in 2023 and rolled out fully in 2024, is reputedly backed by platinum.

[Stacktastic]

6 minutes ago, HillWalkerDundee said:

 is reputedly backed by platinum.

Interesting - anything to back that up as I love Platinum. best metal I have owned, so would happily buy more if it gets back to £650 LOL. 
Which i recon it will??? was it £400 in 2020 or did i imagine that??? 

Edited August 16, 2022 by Stacktastic

[LawrenceChard]

7 hours ago, Stacktastic said:

Interesting - anything to back that up as I love Platinum. best metal I have owned, so would happily buy more if it gets back to £650 LOL. 
Which i recon it will??? was it £400 in 2020 or did i imagine that??? 

I'm still waiting for gold to go back down to $35!

I see from our chart here: https://www.chards.co.uk/platinum-price/ounce/gbp/10-year that there was  dip in April 2020, which I remember, but the solid line on the chart only just dips below £600.

While the shaded part shows a drop to around £460, this may have been out of hours trading. We were not able to buy any at that sort of price level at the time. Platinum is a relatively thin market compared with gold.

So, yes you probably did imagine £400!

😎

[Jvw]

On 31/07/2022 at 21:58, Mightymogs said:

This may have been discussed before, but the lull and subsequent annoyingly predictive daily up and down of Bitcoin has left me less than Impressed. Question is, do I just cut the albeit small losses and just buy PM with it all or leave it alone? 

What was your initial plan with crypto? I suggest stick to that!  

For example; I am in PM's for the long haul. I have a plan when buying pm's. I also have an exit strategy and therefor I also have a go-to-guy when I need a quick sale or buy to adjust my stack a bit. I never sell much because i have a feeling that PM's will always rise in price in the long term. So i don't panic when PM's dip or rise. I just keep with my plan and therefor keep buying. 

[Stacktastic]

9 hours ago, LawrenceChard said:

I'm still waiting for gold to go back down to $35

So, yes you probably did imagine £400!

😎

£35 man imagine that. 

Realistically anything under £600 is buying time & as you say its a highly manipulatable market. 
Maybe if there is any major developments with banning combustion engines etc?? 

[LawrenceChard]

18 minutes ago, Stacktastic said:

£35 man imagine that. 

Realistically anything under £600 is buying time & as you say its a highly manipulatable market. 
Maybe if there is any major developments with banning combustion engines etc?? 

Not £35, $35!

For platinum, 53% of gold is cheap!

In 10 years time, you will be saying remeber when platinum was cheaper than gold.

😎 

[bluemoon]

If you can afford to lose it, I would hold onto it because the potential gains would be worth more than the loss, if that makes sense.

[Mightymogs]

11 hours ago, Jvw said:

What was your initial plan with crypto? I suggest stick to that!  

For example; I am in PM's for the long haul. I have a plan when buying pm's. I also have an exit strategy and therefor I also have a go-to-guy when I need a quick sale or buy to adjust my stack a bit. I never sell much because i have a feeling that PM's will always rise in price in the long term. So i don't panic when PM's dip or rise. I just keep with my plan and therefor keep buying. 

I am definitely in PM's for the long haul. My issue with BC was that I fear for its future in that it's not tangable. Nor are other forms of money but PMs are shiny and you can hold them. Therefore as a certified magpie I've cashed most of the BC out and bought PMs instead. 15-20 years is my plan. Although I haven't quite worked out the exit strategy yet 😉