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

[gib]

And yet no one seems to be doing that.

I believe many people including myself have answered this for you many times. I personally know people have done million dollar transactions with bitcoin, including receiving cash into their bank accounts, and send from bank accounts to exchanges. It happens every day, all day. What part of this do you struggle with?

[gib]

haven't read this thread since 2019

so any bitcoin millionaires here?  i remember quite a few of you had bitcoin back in those days

E

Yes. One here, the dude that started this thread. I'm sure there are others also. I now have 47.3 BTC. So at say 55K per coin that's around $2.6m.

I do plan to buy the extra 0.7 of a BTC to get to full 50.

[gib]

I have done transfers for several hundred thousands off exchanges into bank accounts.

The irony is the multi billion dollar bank I use which is the largest in the country has a 100k/day transfer limit and yet the exchange which is significantly smaller has a 50k/day limit.....yet people still want to cling to the idea that crypto is sketchy.....

Within 3yrs we will have multiple crypto banks offering 4% interest loans against BTC while our BTC averages 100% increase a year...... meaning in the near future those who purchased early won’t need to sell BTC anymore and what do you think that does to prices?

The world just broke. The initial crypto models just broke. This is why my view changes drastically because the window of opportunity is so damn small now.

FFS gib will be an overlord by 2025.....fucking gib.....  lol

Ha ha. Lol. Well I always said everyone should just make sure they own at least one coin. That's still my view. Get some Sats, and hodl.

Regarding bank limits, this may be up to the limits you have set with the bank? Or is it set by the bank? I have accounts with banks in multiple countries. Never had an issue transferring money in, or out, of any limit whatsoever (unless I myself had set a max payment out limit with the bank). Some banks have asked about the source of funds for larger incoming amounts though. I'm not a trader, but the exchange I use has a limit of 2m per person cash out per day for non-institutional customers.

[Bindare_Dundat]

wow, blast off baby. Amazing trading experience this has been.

[gib]

wow, blast off baby. Amazing trading experience this has been.

Hodl on tight and enjoy the ride. Will not always be one way, but obviously over time likely will be very much and very significantly upwards.

[Mayday]

59.3k let’s fucking go!!! 

Next stop 80k!

[gib]

59.3k let’s fucking go!!! 

Next stop 80k!

Yeah Buddy! Nothing but a Satoshi...

[Bindare_Dundat]

 
2 days of plus 45% and one day plus 37%. I'm happy.

[FitnessFrenzy]

$ 59,560.96

[Bindare_Dundat]

Still going. could be 70k in a couple of weeks.

[affeman]

Still going. could be 70k in a couple of weeks.

or 7k lol

[Mayday]

or 7k lol

Price floor is already above 41k.

There is so much buying pressure we didn’t even have a dead cat bounce this time. Down and straight back up to ATH.

[affeman]

Price floor is already above 41k.

There is so much buying pressure we didn’t even have a dead cat bounce this time. Down and straight back up to ATH.

5 weeks later: 7k lol

[polychronopolous]

None, or they'd be doing it.

[Thin Lizzy]

Anyone else check out this year’s 1040? Interesting question on it🤔



“At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?”

[polychronopolous]

Kentucky poised to approve tax, energy incentives for cryptocurrency mining


Public records indicate that lawmakers in Kentucky appear set to approve two proposed laws aimed at incentivizing cryptocurrency mining activity in the U.S. state.

There are two bills moving through the state's legislature, known as the General Assembly. One is centered around tax incentives and, as noted by local media, is part of a broader push to draw technology businesses into Kentucky. The other measure would, if approved, extend the state's clean-energy incentives to cryptocurrency miners, provided that they meet a particular investment threshold of $1 million.

Voting records show that the Kentucky House of Representatives passed the energy bill Friday in a 74-19 vote after clearing the Senate on March 3. It's unclear at this time the extent of differences between the two chambers' bills and whether they'll need to be reconciled before final passage.

The legislature's tax-related bill passed the House of Representatives on March 3, with 84 voting to approve and 16 members not voting. According to the General Assembly's website, the tax bill was "posted for passage in the Regular Orders of the Day for Monday, March 15, 2021" in the House on Friday. A proposed amendment would sunset the tax exemption for miners in mid-2030.

The developments come as the U.S. bitcoin mining ecosystem continues to grow, drawing significant interest from institutional investors. Despite high demand for hardware, such investors are betting that the U.S. will be competitive with China as a hub for mining operations.



https://www.theblockcrypto.com/linked/98253/kentucky-poised-incentives-cryptocurrency-mining?utm_source=coinbase&utm_medium=rss

[El Diablo Blanco]

59.3k let’s fucking go!!! 

Next stop 80k!

Did you skip 70?

[Mayday]

Did you skip 70?

I only post the next resistance price points. Milestones.

The first I said 44k and it tapped 42k
The second I said 55k-60k and it tapped 58.5k

The third will be 77k-80k or something like that. Timeframe I would suggest in the range of mid to late April. 

So I am basically saying forget any ups or downs that happen prior to that marker because that is where price is headed next. At that point we should see sell/buy decisions being made by holders.

[Teutonic Knight]

Yes. One here, the dude that started this thread. I'm sure there are others also. I now have 47.3 BTC. So at say 55K per coin that's around $2.6m.

I do plan to buy the extra 0.7 of a BTC to get to full 50.

How is that goldmine in Australia performing ...........

[Teutonic Knight]

5 weeks later: 7k lol

 

[Mayday]

5 weeks later: 7k lol

The killer for people making fun at 10k then 20k then at 30k then 40k then 50k now at 60k and onwards is at some point you will need to deal with the mental side that you sat and watched it happen and missed out.

I think you are missing what ‘price floor’ actually means. sub 40k BTC price is gone forever. 40k-50k prices are probably gone forever.

Better get used to the feeling that gib is the Getbig overlord now.

[obsidian]

Here's some historical data to put things in perspective. Ethereum has still outperformed Bitcoin in 2021 even with BTC @ $60,000. This is why looking at the big number is not the overall picture. Your return on investment would have been bigger for Ethereum.

Cardano is even more pronounced.

I would put my money into Bitcoin if it outperformed these other assets.

Now that being said yes you can hop from one crypto to another to increase gains. If I knew how to time the market perfectly I would sell all my ETH to BTC, ride it up and once it mellows out sell back to ETH and ride that up. But it is tough to time these things. And it complicates your taxes.

Ethereum Open Price:
Jan 01, 2021   737.71
Mar 14, 2021   1,908.64
Increase: 158.724973228%

Bitcoin Open Price:
Jan 01, 2021   28,994.01
Mar 14, 2021   61,159.55
Increase: 110.9385697253%

[obsidian]

Here's comparing Bitcoin's historical data in 2017 vs Ethereum in 2021. Puts things in perspective!

Ethereum Open Price:
Jan 01, 2021   737.71
Mar 14, 2021   1,908.64
Increase: 158.724973228%

Bitcoin Open Price:
Jan 01, 2017   963.66
Mar 14, 2017   1,232.16
Increase: 27.8625241268%

[obsidian]

The killer for people making fun at 10k then 20k then at 30k then 40k then 50k now at 60k and onwards is at some point you will need to deal with the mental side that you sat and watched it happen and missed out.

I think you are missing what ‘price floor’ actually means. sub 40k BTC price is gone forever. 40k-50k prices are probably gone forever.

Better get used to the feeling that gib is the Getbig overlord now.

If Gibs sold his 50 BTC on January 1st and bought Dogecoin he would now have the equivalent of 660.63829787 BTC! Instead he still has 50 BTC because he hodled it.

He is playing it safe by just hodling BTC. Of course the same thing applies for me. If I did not hodl my ETH and sold all to Dogecoin in January I would have also seen a dramatic increase in my portfolio. The problem is it is easy to see this in hindsight but when you are in the moment you just can't know how things will pan out. If I had a time machine and knew future prices I would have been a trillionaire by now lol! I guess we all would be.

Ethereum Open Price:
Jan 01, 2021   737.71
Mar 14, 2021   1,908.64
Increase: 158.724973228%

Bitcoin Open Price:
Jan 01, 2017   963.66
Mar 14, 2017   1,232.16
Increase: 27.8625241268%

Cardano Open Price:
Jan 01, 2021   0.1814   
Mar 14, 2021   1.0815
Increase: 496.1962513782%

Dogecoin Open Price:
Jan 01, 2021   0.0047
Mar 14, 2021   0.0621
Increase: 1221.2765957447%

[obsidian]

Yes. One here, the dude that started this thread. I'm sure there are others also. I now have 47.3 BTC. So at say 55K per coin that's around $2.6m.

I do plan to buy the extra 0.7 of a BTC to get to full 50.

That's fucking impressive bra! But don't you mean 2.7?
47.3 +2.7 = 50 BTC