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Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

you certainly have a point that they might already hold crypto from other sources

I also think that the fact of them holding a reserve will not be a major factor influencing the prices because they are unlikely to get engaged in speculation or any other regular buying activity , some crypto would just change hands and would be lying around for years without doing anything

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

$trump and $melania coins were jokes - there was money to be made but...the meme coin effects...

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

I may still buy the trump coin , when it goes down. I have not decided yet whether I am ready to get in at $0.10 or should wait until it gets lower

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

Maybe at the dollar mark - 1 to 1 with USD might make sense as a gamble

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

maybe divide the budget into several parts and average down

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

cost average with the dip, through

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

Will see whats going to happen tomorrow after the summit. Crypto is way oversold at the moment.

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

whether crypto is oversold is questionable , there are a quite a few titles trading high above their local and/or historic bottoms of the last couple of years

others had massive rallies in the last several years and the price retreated only a little from their tops

I would only believe it is oversold if I see a stable uptrend of the broad market. right now we are in a mixture of bear market and sides ways market and in such a market even bitcoin may fall significantly , by 50%+ for example

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

The 1 month trend of 10% decrease is worrisome but not intolerable for the long run...

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

I'm referring the ''oversold'' indicator based on RSI and trends. F&G index lowest since the 2022-23 fears (when it dropped from ATH to sub 20k). And the sentiment for that Strategic Reserve from the market was that US will add-up some BTC, but it ended with only the 200K they already have. Unfortunately with the trade wars and tariffs - the entire market is down, USD losing strength last couple weeks in rates never before - my personal view is that crypto wont go against the market trends - if markets dumb, crypto dumbs aswell :coffee:

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

I hope the run up to Trump getting in to office wasn't the peak of the bullrun and we still have a long way to go for the rest of the year.

Alts have done nothing so far ...

A boring bullrun to say the least.

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

Do you guys follow news?
I was reading newspaper last nite and there was a long article on how the North Koreans stole over one billion dollars worth of cryptos from the second largest Crypto exchange recently,resulting in not just losses but customers liquidating their accounts.
There is another article which said not sure how Trump is going to build his crypto reserve,as US govt now holds 200,000 coins worth over $ billions,would these coins be transferred into the reserve account?

sorry as some one corrected me,it is more than 1 billion

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

Thanks for the news agent - if you have the links to the stories, it's good to post them up for source

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

So far the official news from the government is that the crypto reserve will hold only seized actives and they do not have plans in buying crypto to top it up, using taxpayer dollars. Based on todays price - that reserve is worth over $17B USD. I think you are referring the Bybit hack from last month. At least I havent heard any update on that (the hack was in $1-2B USD range). If you indeed have some links for read, please share :thumb:

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

It is in the Wall Street Journal newspaper March 7,2025 -the Bybit raid.
Too detail for me to follow,

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

bybit hack or US government btc reserves can not create a broad market trend. even if bybit collapsed completely there would just be some volatility for a while and everything would calm down. with US government I don't believe they would be actively buying

my take is that a strong growth of the market will only occur if institutions push it and I think they will , they first need to take position at low levels and some time later they will cash out as a market growth always attracts people , they tend to go in on rising prices so that the ones who are already in will be able to sell to them

basically it is the same principle as with the trump coin , just on small scale , lots and lots and lots of people lost money on it , some lost entire savings

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

Institutions have already bought,they will buy more if retail customers give them more money.

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

I think large institutions manipulate the market , crypto is a lot smaller than FOREX so it is easy to manipulate and most importantly it is not illegal

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

Chuckles :lol: - thanks for the laugh agent - I already posted the bybit info on a different post

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

Can you bullish guys tell me what the actual use case is for crypto? I get a store of value, like gold or something else, sure. But tech-wise, it seems like a different version of stuff we already have—that's in place already and working.

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

It's magic internet money, and we're all degenerate gamblers ... didn't you know ?

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

Hah. I totally get that aspect, I'm a big fan of numbers go up.
It's the tech "argument" for crypto I'm always curious about!

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

If you have the time to read about it, few things I can guide you to check will be:

- Benefits and use case of blockchain technology.
- Utility coins (like cross-payment blockchains for banking - XRP | XLM)

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

the biggest advantage of crypto (not all but many coins) is that using them

a) allows to circumvent the banking system with it's stricter and stricter rules

b) keep money in a place where it is impossible for anyone to take it away from you (if certain safety measures have been put in place)

c) making quick payments all over the world and with minimal to no control and minimal fees

d) take it with you wherever you go with nobody being able to see it or even suspect you might have it

e) unlike banks with their accounts , anyone can open a wallet and use it anywhere

of course there is more but these are certainly important for many as it is essentially money that escaped from the prison that had been built for it. many states and especially western states have been working on total control of money flows for years , tightening the noose around people. crypto is like a convict that escaped prison and will never be caught again

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

Nice list murdered - though slowly everyone wants to impose fees...nuisance

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

with crypto fees can be avoided , of course if you want to do BTC only you will be ripped off like someone I know recently complained about a $40 BTC withdrawal fee on crypto.com

if they switched to other coins they could be paying nearly 0 in fees and if they need BTC they can just swap because swaps are easy to do , that is the purchase that creates problems

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

$40 to swap BTC to Cash ?

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

no that is withdrawing any amount of BTC

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

I've been in Defi (crypto) since 2017. Personally i believe we are going to go much lower from here due to geopolitics and trade.

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

I thought cryptos are supposed to thrive under such circumstances ?

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

all this happened before , the market can fall deeply and would recover later. lots of people got invested for easy money at high levels , now it is likely they are getting out as they can not take the pain and move the market lower

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

correct - also a time to perhaps cost average...if money is available

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

now it is the best time to get in , with a few exceptions of course like SOL , BTC and ETH - they are tremendously popular and are overbought for this reason

of course every coin has two sides , one side is that they are overbought , the other side is that they have much stronger support. but I personally would not get in there now as the potential for declines is very high

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

Between the crypto and the stocks - it is a time to get in...the issue is free cash to invest sadly...costs going up etc

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

As the Oracle of Omaha once said "be fearful when others are greedy - be greedy only when others are fearful". This can be applied to any investment market including crypto - right now everything is in fear - can just DCA into coins that proven themselves and can hold value.

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

it is mostly people who use high margin who are in fear , buffett explained his strategy many times - it is essentially looking for what he considers to be cheap and getting in as early as possible , getting out if it has become expensive or if he sees fundamental problems

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

Buffet does not believe in cryptos.
During the Gulf War,Kuwait refugees in neigbor countries cannot use their credit cards or Kuwait currency,but would they accept Bitcoins?
You can take it on the road,but it can be stolen or robbed,unless you swallow the devicee and never go to the bathroom while travelling,or surgically affixed to your body,Robert Redford once played a professional gambler in a movie,he has a diamond buried in his arm

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

I used Buffets quote for fear & greed, never said hes pro crypto (I know he is not supporting it because dont fall under his principles and even called it rat poison). And the argument about getting stolen works for absolutely anything. Theres some people who are not in crypto because of the ''investment value'' but behind the idea of being decentralized - noone can ''freeze or withdraw'' your money just because someone ordered them too, and the privacy factor.

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

I think buffett does not believe in crypto because he does not have problems in the financial system , he is able to use everything it offers

but joe sixpack is not that lucky and such joes exist in large numbers , it is potentially hundreds of millions all over the world and this is the very reason why crypto will continue having a place in the system , pretty much like ebay at the start which people were not perceiving as something important

but I also think buffett has selfish reasons , he makes money in the system , all the regulation etc. - he is integrated in it , makes money , probably owns stock of all possible financial companies. for him an alternative system where people stop obeying the rules is poison as crypto has been undermining the banking system

an example from the most recent history - they imposed massive sanctions on russia so russians switched to crypto and their sanctions have been compromised , they may be able to regulate and restrict the likes of USDT but with native coins there is nothing they can do

Re: Any Bitcoin or Cyrptocurrency enthusiasts?
 

Solid quote - pounce time