Bitcoin

Phnom Poon · Post by **Phnom Poon** » Wed Feb 10, 2021 7:37 pm

tesla's 1.5b 'investment' comes directly from government green credits
if i were overseeing that scheme, i'd be less than elated at how the credits were being deployed
doubly so if i were also responsible for ensuring the orderly operation of the financial system

this could turn out to be a jumping-the-shark moment, let's see how govt reacts

Alex · Post by **Alex** » Thu Feb 11, 2021 7:25 am

whatcouldhappen wrote: ↑Wed Feb 10, 2021 2:13 pm Probably better to get out a little than risk it tanking. I don't see it going up much more.

Careful there, I said the same when the price first surpassed $10,000 and sold most (which I had originally acquired at prices around $300). Not really a bad deal, but now I look like an idiot for not just holding on to it...

paul2d · Post by **paul2d** » Thu Feb 11, 2021 7:36 am

You never go broke by taking profits

Kammekor · Post by **Kammekor** » Thu Feb 11, 2021 7:48 am

Yesterday I sold 0.89 bitcoin at Kraken. I got just over EUR 3.440 for it. All the bitcoin I bought cost me EUR 2.350. Now I have 0.4 bitcoin left, virtually for free, and i will see what happens. So far so good thanks to the pumping scheme Elon Musk played last week. I wonder if he already sold Tesla's bitcoins or he's a real holder like MicroStrategy seems to be.

phuketrichard · Post by **phuketrichard** » Thu Feb 11, 2021 8:42 am

Kammekor wrote: ↑Thu Feb 11, 2021 7:48 am Yesterday I sold 0.89 bitcoin at Kraken. I got just over EUR 3.440 for it. All the bitcoin I bought cost me EUR 2.350. Now I have 0.4 bitcoin left, virtually for free, and i will see what happens. So far so good thanks to the pumping scheme Elon Musk played last week. I wonder if he already sold Tesla's bitcoins or he's a real holder like MicroStrategy seems to be.

??

just looked up 1 bit= EUR 36,731 ( $44,431 ) so .89 would be 32,690
why did u only get 3,400?
https://duckduckgo.com/?q=bitcoin&t=chr ... tocurrency

Kammekor · Post by **Kammekor** » Thu Feb 11, 2021 9:10 am

phuketrichard wrote: ↑Thu Feb 11, 2021 8:42 am
Kammekor wrote: ↑Thu Feb 11, 2021 7:48 am Yesterday I sold 0.89 bitcoin at Kraken. I got just over EUR 3.440 for it. All the bitcoin I bought cost me EUR 2.350. Now I have 0.4 bitcoin left, virtually for free, and i will see what happens. So far so good thanks to the pumping scheme Elon Musk played last week. I wonder if he already sold Tesla's bitcoins or he's a real holder like MicroStrategy seems to be.
??

just looked up 1 bit= EUR 36,731 ( $44,431 ) so .89 would be 32,690
why did u only get 3,400?
https://duckduckgo.com/?q=bitcoin&t=chr ... tocurrency

Sorry, I sold nearly 0.1 -> 0,089....

At that time one BTX was 38.500 at Kraken.

Kammekor · Post by **Kammekor** » Thu Feb 11, 2021 9:24 am

On a side, the myth transferring bitcoin is extremely fast and extremely cheap has been busted for me based on yesterday's experience.

Transferring my coins to the exchange cost me about EUR 20 and took over two hours (chose fastest service, was promised 15 min.). I have to admit it was a twofold operation (sweep from paper wallet, transfer to exchange) but still....As a SEPA bank user in in the EU I am used to instant (business) transfers at a fee of EUR 0.12 per transfer which turns out only about 1.5% of the costs of an (onchain) bitcoin transfer. For non business users the bank transfers are even free.

theKid · Post by **theKid** » Thu Feb 11, 2021 10:34 am

paul2d wrote: ↑Thu Feb 11, 2021 7:36 am You never go broke by taking profits

Absolutely correct, and many are doing that but it does seem like that even more are in there for the long run as part of diversification. Even larger players are now saying that they will “HODL” on to their holdings as a permanent vehicle just as they hold other currencies and assets, rather than cashing out.
The fact is that cooperations now starting to understand the inevitability of digital and crypto-enhanced forms of payment and tokenized asset plays and that they need to have those on their balance sheets.

I bought BTC a few years ago, a bit out of curiosity but also to have a small part of my portfolio diversified in crypto. I have also cashed out of some of them recently but still want “hodl” on to some of that diversification. Cashing out was fairly easy: I use Gemini and Kraken to send to a HSBC multi currency account. They work well for full coins or larger amounts. For smaller transactions I assume it’s better to go to P2P exchange chat room.

armchairlawyer · Post by **armchairlawyer** » Thu Feb 11, 2021 11:18 am

theKid wrote: ↑Thu Feb 11, 2021 10:34 am
paul2d wrote: ↑Thu Feb 11, 2021 7:36 am You never go broke by taking profits
Absolutely correct, and many are doing that but it does seem like that even more are in there for the long run as part of diversification. Even larger players are now saying that they will “HODL” on to their holdings as a permanent vehicle just as they hold other currencies and assets, rather than cashing out.
The fact that is, cooperations now starting to understand the inevitability of digital and crypto-enhanced forms of payment and tokenized asset plays and that they need to have those on their balance sheets.

I bought BTC a few years ago, a bit out of curiosity but also to have a small part of my portfolio diversified in crypto. I have also cashed out of some of them recently but still want “hodl” on to some of that diversification. Cashing out was fairly easy: I use Gemini and Kraken to send to a HSBC multi currency account. They work well for full coins or larger amounts. For smaller transactions I assume it’s better to go to P2P exchange chat room.

Raoul Pal has a good track record on predicting BTC prices. He is not a never sell guy. His analysis shows BTC by end of 2021 at anywhere between 400k and 2m.
He also says ETH is one year behind BTC, so that would place it at 20K by end 2021.
OTOH, McCullough at Hedgeye is saying it's going up strongly now but only till end 2Q 2021 when it will go into reverse (as USD will go up then and BTC likes a falling USD). Rising USD will be good for gold btw.

We don't know but it's crazy not to own a little BTC and ETH. For those with FUD, put aside your feelings (I understand I hate crypto too), and do it for your family, or your future health care bills!

Kammekor · Post by **Kammekor** » Thu Feb 11, 2021 3:25 pm

Kammekor wrote: ↑Thu Feb 11, 2021 9:24 am On a side, the myth transferring bitcoin is extremely fast and extremely cheap has been busted for me based on yesterday's experience.

Transferring my coins to the exchange cost me about EUR 20 and took over two hours (chose fastest service, was promised 15 min.). I have to admit it was a twofold operation (sweep from paper wallet, transfer to exchange) but still....As a SEPA bank user in in the EU I am used to instant (business) transfers at a fee of EUR 0.12 per transfer which turns out only about 1.5% of the costs of an (onchain) bitcoin transfer. For non business users the bank transfers are even free.

One addition, the transfer from FIAT money (Kraken) into my EU bank account took 6 hours an cost me EUR 0,90 on the Kraken side. Just to bust the myth about cheap and efficient Bitcoin should be compared to the bank system. I might be a true narrative in other parts of the world but for sure not in the Euro zone.

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