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Cum Rocket

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Posts posted by Cum Rocket

  1. 47 minutes ago, FirstTimeCaller said:

    Are you trying to spike the football that BTC is only up *checks notes* 136% in the past six months instead of 168%?

    Bitcoin could go to zero. Could go to a million. I have no idea. But I do know that gloating that it's had a pullback after a ridiculous run is silly.

    Same energy here. 

     

    IMG-1187.jpg

     

    3 hours ago, Pam Cummings said:

    Oh no, it topped out at $70k again. But next time it's TOTALLY getting to $100k. Totally.

    I want you back here when it's 100k. It'll be something like this. 

     

    IMG-1182.png

     

    • Haha 1
  2. 39 minutes ago, FirstTimeCaller said:

    This is along the lines of my bull case and why I'm interested. I think BTC has reached a tipping point to where it's not going away. Yet we are still very early on any sort of institutional/government adoption. May not happen, but I think it's likely that bigger players like this are more likely to dip a toe in the water.

    There was a lot of talk last cycle about how "the institutions are coming". How bitcoin was an asymmetric bet, had uncorrelated returns etc that would benefit portfolios. It looks like that was one cycle early. The only way the vast majority of institutions were ever going to buy bitcoin was through an etf type vehicle. Here we are.

  3. 16 minutes ago, Wally Fairway said:

    Japan government pension fund looking at crypto investing - this could be a sign of a top, if you remember when they bought into US real estate buying large properties in Hawaii and the western US (famously they purchased Pebble Beach, purchase in 1990 by Minuro Isutani, sold in 1992 to Sumitomo Bank sold the the current ownership group in 1999). 
    Japanese investment has a history of chasing peak investments, or maybe creating them; not that this will be the case with crypto. But there is a cautionary tale in there. 

    https://www.cnbc.com/2024/03/19/japan-pension-fund-explores-bitcoin-as-an-investment.html

    Interesting. Thanks for sharing. 

    I don't see how we're at a top. Too much new money coming in. 

    One reliable top signal before has been new stadium naming rights being sold to crypto businesses.

    3 minutes ago, B00M said:

    the joke you shared wasn’t funny. Take the loss pussy

    Different strokes.

    As you're aware, taking the L can be one of the hardest things to do.

    This thread is full of haters that can't do it. Again, to their own detriment.

    • Hook 'Em 1
  4. 3 hours ago, nycHorn said:


    Did you have a hardware wallet before?

    Yes I've bought all the major ones. I have a ledger, trezor and cold card. 

     

    1 hour ago, bernorange said:

    I would be curious to know what, if any, advantage it offers over the Ledger or Trezor.

    Just based off people are saying, the Ux is supposedly incredibly slick and uses Nfc to connect to your phone. Also, since it's made by Block it’s Btc only. 

     

    Here’s a breakdown. 

     

    https://bitkey.world/en-US/how-it-works

     

  5. On 3/14/2024 at 8:25 PM, InkaUtexas said:

    We are funding both. The $ we give the Gulf states to offset their security allows them to fund fun groups like Hamas, Hezbollah, the Talibs, etc.

    And loosening sanctions on Iran helped. 

     

     

    We should send more. 

  6. 1 hour ago, Captainant said:

    The funniest thing is gonna be when large banks and financial institutions end up being the majority holders of cryptos through these ETFs, and you no longer have a decentralized currency and are back to trusting and dealing with the banks

    I agree that it's not the ideal way for people to own Bitcoin. But it’s a better intro than nothing. Some will learn and make the switch to self custody over time.  Also somewhere/somehow one of the ETFs will rug some investors. And more will learn that way. 

     

    Also, wrt potential Eth ETF

     

  7. 19 hours ago, Neonmoon said:

    I don’t launder money, but if I deposit over 10K in cash to my bank account. The bank tells the government.

    I’m not a terrorist, but I’m not allowed to bring my licensed handgun on the plane. 

    I’m not a reckless driver, but I will get a ticket for driving 150mph in a school zone.

    These 3 examples are not equivalent, at all.

    If I deposit 10k cash it shouldn't be the government's business.

    The Bank Secrecy Act is shit.

    KYC/AML regs are shit. They don't stop any criminals. They only inconvenience and encroach on the privacy of average Americans. They actually harm average Americans by creating honeypots of data that get hacked.

    It's all about control.

    It's no surprise you support it, or that you tried to make that equivalency.

    • Fuck You 2
  8. 1 hour ago, Captainant said:

    You're doing that thing again where you're mistaking your opinion for a fact, and then spiking the football and saying "pwned". Just because you insist on repeating your alternative reality does not make it so. 

     

    I would be less dismissive if you would ever directly reply to what I've written, rather than linking me to someone else's thoughts that you heard on a podcast. I know I'm never gonna change your mind until the ponzi ends, but enjoy the ride I guess

    You want a reply to the Tether truther? Please keep holding your breath on the great Tether White Whale. 

     

    Or some study that “shows” exactly how things are manipulated? If it's so certain, how come non authorities or other investors have seized on it?

     

    I love how he displays disbelief that there was a stable floor at 16k. What causes a lot of the volatility? Leverage. At the bottom of each cycle leverage is wiped out. There's no more sellers. Hodlers continue to slowly buy and they set the floor. There I solved one of the mysteries for him, and you. 

    1 hour ago, Snake Diggity said:

    Has another currency or a stock or a precious metal or really anything at all ever experienced this kind of price increase based solely on speculative inflows?

    I’m not sure of your answer, but the reason the price rises so much is the supply is inelastic. In oil or gold or whatever booms, the supply mined or procured increases in response to the price increase via investment in response to the boom. Not possible with Bitcoin. 

    1 minute ago, bernorange said:

    NVDA?

    Equities can and do issue more shares in response to demand. 

  9. 16 minutes ago, Captainant said:

    my JS blocker lets me read it, here's the first chunk of the article

     

    lulz linking me to a bitcoin maxi who's mad at because someone called his baby ugly isn't terribly convincing. He's trying to claim anything by these guys is false because "tether had the money when they needed to!!!!" Nevermind the constant liquidity crisis that Bitfinex was under, and the intermingling of multiple buckets of money to paper over an $850M shortfall (page 4 of the signed court order).

    It's the same shit as a few pages back where GRUhorn was telling me that as long as people get their margins and their money back, it's not fraud to lie in your financial filings.

    Lol he puts this pretty well. Congrats Captain et al. They serve it up. Y’all gulp it down. No better use of this gif. 

     

    IMG-1391.gif

     

     

    Your dedication to being wrong, to your own detriment, is truly impressive.  

  10. On 3/12/2024 at 10:55 AM, FirstTimeCaller said:

    If you were an unscrupulous whale, could you not buy calls on MicroStrategy, and then buy a slug of bitcoin to get the price moving and then cash in on the bigger swing in MSTR overall and the call options in particular?

    Yeah that seems like that might be possible. I don't think there's a lot of liquidity in MSTR calls though. 

     

    Been thinking a bit about MSTR. It's by far my largest holding in 401k. Trying to assess how long this lasts.  Actually looked at numbers and it’s still one of the most shorted stocks in market. 18% of float is short. Fuel for even more pumping above Btc. Decided today to sell some other holdings and rotate more into MSTR. I don't see how this thing isn't substantially higher in 12-18 months. 

     

    20 minutes ago, bernorange said:

    Enjoy the ride everybody. Can't say you weren't warned. 

  11. Disclaimer-some of the supporters of these pacs are definite scammers. There’s a big gulf between Bitcoin and the rest of crypto. I don't support much of the latter tbh. 

     

    Just sharing as this appears to be a lobbying voice that will be heard going forward. 

     

     

     

    • Fuck You 3
  12. 2 hours ago, jimmyjazz said:

    Gibberish.  In my opinion one needs some way to protect against massive losses.  It's not easy.  There is no reason to believe that crypto will trend up over "sufficiently long" timeframes.  It could just as easily tank and stay down.

    Timing an individual instrument or even the market is difficult, and doesn't carry any particular guarantee of future success.  But, one can protect against massive drawdowns.  I calculated the return on bitcoin between May 15, 2017 and March 12 of this year (41.6X) and the return on trading the slope of the 126 day (6 month) simple moving average, which was considerably higher (70.3X).  Furthermore, the max drawdown was less that 15%, as opposed to at least 76% for the buy and hold "strategy".  The trading rule is this:  If the 126D slope is positive, you're in.  If it's negative, you're out.  As with all timing models, the strategy indicator lags price, and you'll see short term whipsaw losses, but those are more than compensated by avoiding massive drawdowns.  Of course, there are fees and taxes to consider, too.  Do what you want, but I think you're leaving money on the table AND exposing yourself to massive risk.

    image.png.3da453ab2d1c9c9530c4c9406cf122e3.png

    If you're comfortable trading it, good for you. It's easier for most to just buy over time and hold an asset that appreciates with adoption over time. 

     

     

    • Fuck You 2
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