Bitcoins - about to hit $5,000 per coin today!

[gib]

When the ETF is approved, yes.
 

Wanna know what? I'll put my cock on the chopping block: GBTC will be around $60 in 12 months or less.

I will post the before and after once my goal is reached. Daily. And I will contrast it with the bull shit doom-and-gloom you and your trannie lover have been posting for the past 7 months.

He is correct. This could very well be one of the best (and most obvious) investments (in hindsight) over the next year...

[gib]

My recent buy order for Ethereum was at 1645 and before that at 1425.

The rest of my ETH I've been staking.

I'm bullish.

Buy any unregistered security at your peril. There have been so many warnings, so really only yourself to blame if ETH gets specifically called and prosecuted by the SEC (either those facilitating the trade of it or the Eth Foundation itself.

[Flexacon]

Bitoin, not crypto. Important distinction...

Not in this market. Crypto, bitcoin (my original post was about bitcoin) and gbtc are doing nothing. They are all still 50% plus off their highs

Meanwhile tech stocks have or are close to hitting all time highs. Of course you need to know what you're doing in those markets to take advantage of it.

As the discussion is about current performance then crypto, btc, gbtc are all poor performers and have done nothing. That's why I say wait until a bull market/cycle top rather than declaring any wins now over who currently holds the shiniest piece of shit.

[Mayday]

He is correct. This could very well be one of the best (and most obvious) investments (in hindsight) over the next year...

Spot price will drive up to the approval and the launch, that’s an easy call and requires an IQ of 10. This is the narrative being pushed for retail.

However, GBTC is an interesting beast. Has a history of denied ETF, 12 month lock-in period, a high fee structure and a premium currently in the negative. Anyone who bought in during the bullrun and held is now likely an additional 50% underwater vs buying spot.

The simple question is risk. The Blackrock will be an approved ETF with exposure only to spot. Grayscale is a trust, locked in, exposure to spot and also exposure to premium which can vary an additional +/-60%.

I think the fact that GBTC is still negative tells the true story. Even at a -37% discount and a positive narrative of ETF on the horizon, big money hasn’t bought. Therefore if plebs buy GBTC does it mean plebs are considerably smarter than big money or does it mean we don’t know how to assess risk.

Gib you don’t own GBTC correct? So if this is all that easy, why haven’t you bought into the trust?


FWIW if I picked an exact number I think BTC taps out at 76k.

[Flexacon]

Gib you don’t own GBTC correct? So if this is all that easy, why haven’t you bought into the trust?


FWIW if I picked an exact number I think BTC taps out at 76k.

Gib would probably have to pay tax on GBTC profits but not BTC. If you have favourable crypto taxes vs stocks then GBTC was and still is mostly useless.

GBTC did make more sense for a while if you're an American as it was more tax efficient vs btc, but MSTR can give them the same tax efficient exposure to BTC.

[gib]

i don't own GBTC but i have looked at it a few times. It is an interesting investment and i do think there is significant upside potential on normalization of the ETF structure in the US. I do have a little MSTR but my main exposure is directly via bitcoin itself.

[gib]

Not in this market. Crypto, bitcoin (my original post was about bitcoin) and gbtc are doing nothing. They are all still 50% plus off their highs

Meanwhile tech stocks have or are close to hitting all time highs. Of course you need to know what you're doing in those markets to take advantage of it.

As the discussion is about current performance then crypto, btc, gbtc are all poor performers and have done nothing. That's why I say wait until a bull market/cycle top rather than declaring any wins now over who currently holds the shiniest piece of shit.

Comments such as these are useless as the are time-frame specific. I could revert telling you that BTC is up 14% on the month, 80% on the half year, and 84% YTD.

The key point is that we need to look at the long term trend, and long term BTC has outperformed all major asset classes. (Yes a few random shit coins will be created and for short periods pop and disappear. Good luck making an money on those, unless you are the creator/scam-meister of such a coin).

[Flexacon]

Comments such as these are useless as the are time-frame specific. I could revert telling you that BTC is up 14% on the month, 80% on the half year, and 84% YTD.

The key point is that we need to look at the long term trend, and long term BTC has outperformed all major asset classes. (Yes a few random shit coins will be created and for short periods pop and disappear. Good luck making an money on those, unless you are the creator/scam-meister of such a coin).

Most of the recent discussion has been time specific as was already alluded, specifically from Nov/December 2022 until now, so please keep up. Looking at the relative performance of other assets in this period and compared to what crypto assets have done historically tells you that any price improvement in this period are really not worth talking about.

I'm actually for the most part saying the same thing as you and that's look longer term, and wait until at least another bull run/ cycle top in crypto, btc, gbtc etc before we start a dick measuring contest (no homo)

Don't need luck or to be a creator/scam-meister to make money on "shit coins" though, it's more timing and/or getting in early. Have you already forgot about the coin that x10 in a few weeks that I told you to buy last cycle after you wanted to argue that it's not possible to predict these things?

I'll tell you what I'll do, at some point I'll PM the names of 3, maybe 4 "shit coins". I know you won't front run me as you don't believe in them, but you'll see again if it was luck or not.

[Griffith]

Comments such as these are useless as the are time-frame specific. I could revert telling you that BTC is up 14% on the month, 80% on the half year, and 84% YTD.

The key point is that we need to look at the long term trend, and long term BTC has outperformed all major asset classes. (Yes a few random shit coins will be created and for short periods pop and disappear. Good luck making an money on those, unless you are the creator/scam-meister of such a coin).

Ethereum outperformed Bitcoin.

ETH has been around since 2015.

[obsidian]

Ethereum outperformed Bitcoin.

ETH has been around since 2015.

ETH outperformed BTC over the past 3 years. However BTC has outperformed ETH the past 5 years. BNB and Doge outperformed both ETH and BTC that past 3 and 5 years.

These numbers all depend on when the snapshot is taken. Of all cryptos BTC has gone up the most since it's inception. It went from less than $1 to a high of almost $70k. I don't think even alts like Doge have gone up by the same magnitude.

[obsidian]

Buy any unregistered security at your peril. There have been so many warnings, so really only yourself to blame if ETH gets specifically called and prosecuted by the SEC (either those facilitating the trade of it or the Eth Foundation itself.

The SEC would have to prove in court that ETH is a security. It does not meet the criteria of a security IMO. If ETH is a security then Baseball cards would also have to be declared a security. And Bitcoin. Playing devils advocate, an argument could also be made that you and Michael Saylor invested in Bitcoin with the expectation of a profit but without doing any work yourself to maintain or develop the blockchain.

[Flexacon]

The SEC would have to prove in court that ETH is a security. It does not meet the criteria of a security IMO. If ETH is a security then Baseball cards would also have to be declared a security. And Bitcoin. Playing devils advocate, an argument could also be made that you and Michael Saylor invested in Bitcoin with the expectation of a profit but without doing any work yourself to maintain or develop the blockchain.

ETH is not a security and has pretty much been cleared behind closed doors otherwise they wouldn't have launched this exchange last week.

"EDX Markets Launches with Support for BTC, ETH, LTC and BCH Spot Trading

The digital assets marketplace was founded by some of the leading financial services companies including Charles Schwab, Citadel Securities, Fidelity Digital AssetsSM, Paradigm, Sequoia Capital, and Virtu Financial."

https://www.nftgators.com/edx-markets-launches-with-support-for-btc-eth-ltc-and-bch-spot-trading/


ETH staking as a service was the only thing the SEC went after.

Gib for some reason is devolving back  to all  his old arguments, most of which have been have been incorrect or inaccurate. I wouldn't be surprised if he starts to talk about the ETH merge failing again or even that it will never happen 

[Mayday]

Ethereum outperformed Bitcoin.

ETH has been around since 2015.

BTC did 2.5x from peak to peak

ETH did 2.2x from peak to peak

Why are people bragging ETH is better? it got nuked to Hades in 2019 as a result of it being a shitcoin and therefore had a larger multiple on its way to a lower peak to peak performance…..

Not only did ETH have a lower performing peak to peak vs BTC But it also did less on ETHBTC ratio than the previous cycle……

A worse peak. A worse performance vs BTC.

I’m with the BTC maxis on this one.

[Mayday]

Oh and for those who did not know, some of the main crypto data houses revised their formulas so they now show as predicting the 2021 peak (which they didn’t).

Therefore when you forward look to the next cycle it will appear as predictive yet it will wreck you to oblivion.

[Griffith]

BTC did 2.5x from peak to peak

ETH did 2.2x from peak to peak

Why are people bragging ETH is better? it got nuked to Hades in 2019 as a result of it being a shitcoin and therefore had a larger multiple on its way to a lower peak to peak performance…..

Not only did ETH have a lower performing peak to peak vs BTC But it also did less on ETHBTC ratio than the previous cycle……

A worse peak. A worse performance vs BTC.

I’m with the BTC maxis on this one.

 

[Griffith]

ETH outperformed BTC over the past 3 years. However BTC has outperformed ETH the past 5 years. BNB and Doge outperformed both ETH and BTC that past 3 and 5 years.

These numbers all depend on when the snapshot is taken. Of all cryptos BTC has gone up the most since it's inception. It went from less than $1 to a high of almost $70k. I don't think even alts like Doge have gone up by the same magnitude.

Correct, referring to the previous bullrun, ETH outperformed BTC.

And still has more upside potential compared to BTC.

[Mayday]

Learn to read the ETHBTC chart.

You are looking for a narrative to be right instead of thinking about why you will be wrong.

There may not be any time to think about a flippening because you missed the peak entirely.

Max pain is peak much, much earlier than people even contemplate followed by a much, much longer bear market. Peak early 2024 and next peak might be late 2029 is max pain.

[Griffith]

And you should learn how to trade.

You've been flip flopping like crazy throughout this thread and claiming 'it's going to go much lower' at nearly every support level.

While some people were panicking, I bought at most of the lows.

Good luck with your 'narratives' though 

[Flexacon]

And you should learn how to trade.

You've been flip flopping like crazy throughout this thread and claiming 'it's going to go much lower' at nearly every support level.

While some people were panicking, I bought at most of the lows.

Good luck with your 'narratives' though 

Maybe Saylor needs to hire you as he just bought the highs again. $347.0 million of btc at an average price of $28,136.

The price was sat well below that for nearly 2 months!

Ark has changed the wording on their spot ETF application which was submitted much earlier than Blackrock. It's now reads very similar to the Blackrocks application. We may have an ETF much sooner than expected. I'm still doubtful.

[obsidian]

Maybe Saylor needs to hire you as he just bought the highs again. $347.0 million of btc at an average price of $28,136.

The price was sat well below that for nearly 2 months!

Ark has changed the wording on their spot ETF application which was submitted much earlier than Blackrock. It's now reads very similar to the Blackrocks application. We may have an ETF much sooner than expected. I'm still doubtful.

Blackrock does have a good track record though regarding their ETF applications - 575:1

https://cryptopotato.com/blackrocks-etf-success-rate-with-the-sec-is-575-to-1-what-about-its-bitcoin-application/#:~:text=BlackRock's%20ETF%20Success%20Rate%20With,What%20About%20its%20Bitcoin%20Application%3F

[obsidian]

Correct, referring to the previous bullrun, ETH outperformed BTC.

And still has more upside potential compared to BTC.

Yes I agree with that. I feel that ETH is currently undervalued vs BTC.

[obsidian]

BTC did 2.5x from peak to peak

ETH did 2.2x from peak to peak

Why are people bragging ETH is better? it got nuked to Hades in 2019 as a result of it being a shitcoin and therefore had a larger multiple on its way to a lower peak to peak performance…..

Not only did ETH have a lower performing peak to peak vs BTC But it also did less on ETHBTC ratio than the previous cycle……

A worse peak. A worse performance vs BTC.

I’m with the BTC maxis on this one.

ETH is deflationary and provides yield to stakers. Speaking as a staker, BTC would have to outperform ETH by the APY rate (currently around 5%) to offer equal value. My ETH balance grows via staking. Bitcoin does not offer that.

Ethereum also has a lot more utility than Bitcoin. Bitcoin was brought to a halt recently with the NFT craze. It is entirely unsuitable for that feature.

 

[Mayday]

And you should learn how to trade.

You've been flip flopping like crazy throughout this thread and claiming 'it's going to go much lower' at nearly every support level.

While some people were panicking, I bought at most of the lows.

Good luck with your 'narratives' though 

My post did appear rude now I look at it. not supposed to be so my bad there.

I don’t trade because I’m no good at short term.

Shitposting is exactly that. I post total utter flippant vomit on here. Yes I bought alts at BTC 17.5k (posted it) and said it’ll go to 11k or even 6k. I am dumb. I then said BTC could go as high as 42k and I sold around 29k. Make of that what you will.

I would like layer 2 alts to nuke. Unfortunately that will take out ETH. The thing to ponder about ETHBTC at support is are we all cool with the floor price of a punk NFT being triple that of Bitcoin? are we ok the NFT rock done in MS Paint being worth 150k at the bottom? They will 10x from here if so.

The more ‘alive’ these total pieces of shit are, the less money there is to pull up Bitcoin.
The less Bitcoin can pump, the worse off we all are. The Degenerate stuff exists on the ETH network so all that money holding up jpegs also prevents money flowing into ETH.

We kind of need ETH to take one for the team here and be the sacrificial lamb to kill off the stupid stuff.

Tone is always lost so apologies for being too blunt.

[Theoak*]

Yes I agree with that. I feel that ETH is currently undervalued vs BTC.

When is the "flippening" happening?

[gib]

This is like saying toilet paper has more utility than a car. They are 2 very different things. In terms of being the new universal censorable and unconfiscatable decentralized digital world currency and global store of value, nothing other than BTC comes close to offering such utility. Not Eth, nor any other alt or shitcoin.