Crypto Blowing Up

[slokor]

Thats why I dont look at the value of BTC . Instead I swap trade between the various top cryptos making more on the ratio between them.
As I mentioned before I increased my crypto holdings by over 25% in 2021 - was a VERY good year...

[SaiJin]

Originally Posted by yankee

Business. This other stuff is just crappy savings. Where you Hope it doubled every 3-7 years kinda deal compared to business that you can oftentimes double your money every year, or every quarter or sometimes everyday.

Took the words out of my mouth.

[SaiJin]

Originally Posted by slokor

Thats why I dont look at the value of BTC . Instead I swap trade between the various top cryptos making more on the ratio between them.
As I mentioned before I increased my crypto holdings by over 25% in 2021 - was a VERY good year...

Which is a skill set that I don't have.

[slokor]

Hardly any skills required.
Same basic concept - buy low sell high - only done with the ratios between the different cryptos.

[SaiJin]

Originally Posted by slokor

Hardly any skills required.
Same basic concept - buy low sell high - only done with the ratios between the different cryptos.

But both BTC and ETH go up and down at the same time as ETH is dependent on BTC going up and down. So I must be missing something.

[yankee]

Originally Posted by slokor

Thats why I dont look at the value of BTC . Instead I swap trade between the various top cryptos making more on the ratio between them.
As I mentioned before I increased my crypto holdings by over 25% in 2021 - was a VERY good year...

What good is having more of something if the value goes down? Maybe I missing what you mean by you dont care what the price is. Gain 25% of something that fluctuates 50% doesn't make much sense unless you are selling at the highs and re-buying at the lows.

I guess some of us here are missing what you really mean unless you are just thinking a long term hope it goes up forever and sell at retirement etc... and if it happens to go down no big deal because you didn't need the money anyways kinda deal(savings, not investment)

It appears the people who made a lot of money on BTC are mostly lucky and sold because if you didn't sell..... you didn't make anything.

[yankee]

I still think as the governments loose more and more control that Crypto held on a physical wallet will be a huge hedge against hyper inflation or a world war(physical or cyber) currency collapse but I would not be trusting any government and leave much money in a bank or on an exchange after the past weeks.

[slokor]

Originally Posted by SaiJin

But both BTC and ETH go up and down at the same time as ETH is dependent on BTC going up and down. So I must be missing something.

I play with several currencies.
The main ones I myself play with are ETH and BNB.
Yes they have a correlation to BTC but they still have variations to that ratio and the ratio between them and other currencies. It is not all that difficult to make a percent or two playing on those ratios. Might not sound like a lot but considering that can be done multiple times per month - it adds up real fast.

[slokor]

Originally Posted by yankee

What good is having more of something if the value goes down? Maybe I missing what you mean by you dont care what the price is. Gain 25% of something that fluctuates 50% doesn't make much sense unless you are selling at the highs and re-buying at the lows.

I guess some of us here are missing what you really mean unless you are just thinking a long term hope it goes up forever and sell at retirement etc... and if it happens to go down no big deal because you didn't need the money anyways kinda deal(savings, not investment)

It appears the people who made a lot of money on BTC are mostly lucky and sold because if you didn't sell..... you didn't make anything.

I dont care about the price short term. If youre a true crypto enthusiast youre familiar with these fluctuations and the cyclical nature of this industry.
If you know anything of my views on crypto (and Ive been fairly vocal on the topic) Im a big believer in it long term. Im not looking at cashing out before 2025-2027. Until then the price is of little relevance to the way I do things.
It is my belief that by then BTC will cross the 100k barrier. Its not such a stretch considering how things have gone in the last few years and considering there will be another halving event in the duration.
I myself got much of mine when it was in the range of $170-$500 - so I leave it to your imagination to guess at how much I have and how much that 25% gain translates to...
As for what you said about selling it when it was high - 'high' is a relative term. I could have sold when it was at $5k and considering I bought in at less than 10% of that I would have made a killing. But I wouldnt be able to retire (at least not at the standards I have in mind). I could have sold at 50k - but at that point its pointless to do so when you have as much invested in this as I do. I can afford to ride the waves to 100k and beyond - especially since I am still making money doing what I do (i.e. swap trading). In the meantime selling a BTC or two here and there gives me all I need to keep going (regardless of the pricepoint at that given moment of selling) and has minimal impact on my bottom line and the goal Im striving for since overall my crypto balance just keeps going up.
People like agent are short sighted and ignorant of how this market works. As someone said - he reminds me of chicken little. Its easy to tell others the sky is falling and to sell and offer absurd and baseless advice when you yourself have nothing on the line.

[slokor]

Originally Posted by agent006140

dear true cryto enthusiast-
People like agent are short sighted and ignorant of how this market works. As someone said - he reminds me of chicken little. Its easy to tell others the sky is falling and to sell and offer absurd and baseless advice when you yourself have nothing on the line.
-------------
I am standing by ready to buy all of you Mac breakfast ,as Bitcoin is now below my forecast of 38K and Wall Street 37K.
See you at $28K

Sure thing moron.
You havnt heard a single word I said.
Keep it up jacka$$.

[yankee]

Originally Posted by slokor

I play with several currencies.
The main ones I myself play with are ETH and BNB.
Yes they have a correlation to BTC but they still have variations to that ratio and the ratio between them and other currencies. It is not all that difficult to make a percent or two playing on those ratios. Might not sound like a lot but considering that can be done multiple times per month - it adds up real fast.

Because of your input, a buddy and myself moved five coins to stable coin last week right as it started to crash again and looks like we could almost double our holdings soon with the same capital out of pocket.
Thanks!

[yankee]

I was going to start a thread but decided this one gets plenty of action. Does anyone here collect crypto as payment or use it in their businesses?

It appears you can manage it more easily as a business than Short term, long term, etc capital gains but I may be mistaken.

Any input would be great!

[SaiJin]

Originally Posted by slokor

I play with several currencies.
The main ones I myself play with are ETH and BNB.
Yes they have a correlation to BTC but they still have variations to that ratio and the ratio between them and other currencies. It is not all that difficult to make a percent or two playing on those ratios. Might not sound like a lot but considering that can be done multiple times per month - it adds up real fast.

You should maybe come up with a book for dummies and sell that for extra revenue too.

[SaiJin]

Originally Posted by yankee

I was going to start a thread but decided this one gets plenty of action. Does anyone here collect crypto as payment or use it in their businesses?

It appears you can manage it more easily as a business than Short term, long term, etc capital gains but I may be mistaken.

Any input would be great!

Depends on your financial situation.

As you already know it's volatile and we are in the bear market, so if you don't need the money right away and just want to get paid in crypto so you can build a crypto portfolio then wait for the value to go up then yes. This was my situation.

But if you need the money now and cash flow is important I wouldn't.
Hence why recently I said I was thinking of liquidating when the value goes back to ATH and I'll put it in business so it can multiply faster.

[yankee]

Originally Posted by SaiJin

Depends on your financial situation.

As you already know it's volatile and we are in the bear market, so if you don't need the money right away and just want to get paid in crypto so you can build a crypto portfolio then wait for the value to go up then yes. This was my situation.

But if you need the money now and cash flow is important I wouldn't.
Hence why recently I said I was thinking of liquidating when the value goes back to ATH and I'll put it in business so it can multiply faster.

I'm talking Business accepts Crypto as payment. Not at all investing per say. I looked into it and most payment processing services will accept cyrto and instantly move to stable-coin so that lets say someone pays $10,000 and all of a sudden you have $7000 etc. It appears that as far a business, it isn't handled as an investment and only as a payment so there is some serious upside potential with very managed downsides.

[Luminary]

Originally Posted by yankee

I was going to start a thread but decided this one gets plenty of action. Does anyone here collect crypto as payment or use it in their businesses?

It appears you can manage it more easily as a business than Short term, long term, etc capital gains but I may be mistaken.

Any input would be great!

Yeah, I recently started accepting crypto and would exchange it to stable coins.

[SaiJin]

Is there such thing as a stable coin though?

The only thing that's stable and goes up and down only by 1 cent is USD.

[Luminary]

Originally Posted by SaiJin

Is there such thing as a stable coin though?

The only thing that's stable and goes up and down only by 1 cent is USD.

There's a couple. USDC, USDT, etc.
I personally take USDC and Dai.

[JamesNorth101]

Originally Posted by SaiJin

Is there such thing as a stable coin though?

The only thing that's stable and goes up and down only by 1 cent is USD.

Quite a few linked into the value of Fiat currencies

[SaiJin]

Originally Posted by Luminary

There's a couple. USDC, USDT, etc.
I personally take USDC and Dai.

I don't consider them investment coins. But yea, they are stable since they are basically US dollars

[Luminary]

Originally Posted by SaiJin

I don't consider them investment coins. But yea, they are stable since they are basically US dollars

Yeah they're not meant as investments but they do hold their value which is good to accept in terms of payments if a business wants to accept crypto without the volatility.

Out of the topic question: Is there a way to get notifications here for replies?

[JamesNorth101]

Originally Posted by Luminary

Yeah they're not meant as investments but they do hold their value which is good to accept in terms of payments if a business wants to accept crypto without the volatility.

Out of the topic question: Is there a way to get notifications here for replies?

You should have the option to turn on the subscription on the thread in your settings and that way you will get an email each time there there is a new post on that thread