LTC at all time low valuation vs BTC made no sense to me. I’m balls deep at avg cost $174
I only started buying it in January… but it’s already felt like an eternity waiting for that ratio pop. You long term holding it or got sell targets in mind?
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f no.
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The total crypto market cap now exceeds $2 trillion. About half of that is BTC.
That is the post.
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wow i didnt realize BTC dominance was as low as it is
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big if true
If butcoin becomes the way of the future like folks around here hope, btc goes 10x + this price.
There is an unimaginable amount of money leading to pressure to fuck/trick swing traders to the point to where despite being right on their btc belief they end up getting fucked instead. I work shoulder to shoulder with them. It’s one thing to get shit right early on, it’s also another thing to convince everyone else that they are wrong to salvage your gains.
Buy/add and forget for 10 years. Dont emotionally trade this shit, that’s what they want you to do.
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I want to bet on price of btc going up long term and risk btc as collateral to do so. All the major exchanges have perp and quarterly contracts. What other options are available? Collateralized loan to get a stablecoin and buy futures or more spot? Some sort of DeFi voodoo? Assume I am a dumb poker player and not a trader. Anyone feel strongly for or against this line of thinking?
Unrelated to the above, but I just found this podcast Uncommon Core featuring Su Zhu of 3 Arrows Capital discussing where crypto yields come from and thought it was good.
Other than pricing in dollars/euros etc, you can price the coins in terms of bitcoin value. The concept is that, especially in a bull market, you want to outperform bitcoin, otherwise you should just be holding bitcoin.
For example, I bought EOS back in November, here:
Around 0.00018 a bitcoin, or 18000 satoshis (the minimum increment of a bitcoin, 0.00000001). So I’m still about 33% down in bitcoin value. But, because bitcoin has risen so much, I’m still up in USD value:
But it means I would’ve been better off keeping it in bitcoin, but was better off than keeping it in USD.
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Well, the only reason to not just spot trade and simply buy more bitcoin is most of what you mention would utilize leverage. And I think people know my thoughts on that. It’s like how when I hear people say “I lost all my money in cryptocurrency” and I wonder how that’s possible even in a bear market until I remember “oh, you were overleveraged margin trading”.
Also, I’m not entirely sure of all the specifics but I know some contracts on some exchanges don’t even offer the option of a margin call. You just get auto-liquidated and have to open up a new position, which can sometimes be less profitable than refilling your margin account.
But fundamentally it’s not bad as long as you know how it works. Basically the more you’re leveraged, the less room you have for the price to go the opposite direction before you’re liquidated.
The loan option would depend on the interest rate and I’m honestly not sure what’s available.
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it’s dumb ass Ripple
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i’m hoping somebody can explain Ripple’s price action as anything other than “we’re nearing the irrational top”
Not spot trading. I buy to hold. Think I’ll dump another $5k into crypto. Right now I only have BTC. More BTH or something like Etherium?
Everything is dumping today, so seems like a nice time to have some spare fiat to invest!
I wish I could say the same, instead I’m just watching my portfolio plummeting…
I pay zero attention to the day to day value of any of my investments.
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Btw what I meant by ‘spot trading’ was just that, buying and holding and then selling whenever you want, no contracts or margins involved. I know ‘trading’ can have the connotations of ‘day trading’ or ‘swing trading’ but I’m just clearing that up.
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To answer your question though, yeah Ethereum wouldn’t hurt and would fit in to your plan. I think this dip is gonna dip a little bit more but like you said, you’re not concerned about that with a longterm strategy.
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My stimulus checks are going straight into Bitcoin.
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Two sentences clicked in my memory recently.
Montana Cryptocurrency Zoning Law May Be Country’s First
Cryptocurrency miners are rewarded for energy investment, as they use lots of electricity.
And an op-ed pitch for a piece titled “Bitcoin is a global market for electricity that will unleash renewables.”
An alternative way of viewing bitcoin and its energy consumption?