Why would you sell?Sold my zil a couple days ago..woke up today like..
Just curious
Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
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Just curious
Impatience,I converted zil to xrp as it pumped.
I feel your pain..i just got lucky this time. I'm notorious for taking money out of a coin.Sold my zil a couple days ago..woke up today like..
, thinking that its going nowhere just before it pumps and then putting that money into a coin that drops through the floor 5 minutes after purchase...I started setting levels for myself on coins when I started purchasing LINK and XDC because I was getting burned by always betting on the HUGE payout when i couldve been using some of this money to make life better by getting stuff paid off. Paying off debt is just as fulfilling as storing money in the bank. Those are 2 coins that I really didnt see as long term holds but had room for growth. I put $200 into it and everything over $500 I'd start taking until it starts dropping...then I'll start selling half of what is left under the $200 at a time so Id at least get some kind of profit out of it. So far its been working for me by not selling out of it too quickly but not holding on to it for so long that I miss out on profits once the pump is over..
Side note tho...if you read about the creator selling his stash...get out...i couldve made a ton if I wouldve gotten out of LTC at the same time XRP was high, but i didnt..but didnt get burned a second time when it happened with LINK. I get good profits off LTC when the market rises across the board...it typically is always one of the coins that moves upward fairly quickly. Most people i talk to use it as a long term stash but it's a great pump coin if you want to double your money and get out..
Anybody else have any systems/ thought processes on the way they take profits?
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I was gonna ask the same.i scalp on the way up.with civic and district x I took out as it rose until I had all my initial investment back then let the profit ride.when volume started dropping I took the rest out and bought litecoin a lil after it started pumping.civic and district x never came back so no regrets there.
With btc,eth and ltc I never touch what I put in.i only take the profit and leave the principle.30 bucks and up profit is coming with me.using this method in the last three weeks I've had days where I walked away with 230-400 bucks per day.im putting together a war chest for a financial emergency or a pullback in prices.
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Remember, binance had to create a different exchange for U.S. investors. If you're coins is still on the international site and not the U.S. based one, they are giving us 2 weeks to transfer what we have on the international exchange. I got one too, got all my shit out
For me, ripple has to hit somewhere between $1-$10 for me to sell. Although I actually believe that it can do $20-$30. We shall see. Im in no rush to sell though....
but you only have 10% of the coins available.
Definitely hanging onto Ripple.. .Its my cash cow.
Binance has begun to block U.S. users from accessing its exchange platform
- Binance has started blocking U.S. users from accessing its platform, The Block has learned.
- An email obtained by The Block directed a user to withdraw their funds within 90 days if they were based in the U.S.
- The move comes more than a year after Binance first announced that it would stop serving U.S. residents from September 2019.
Crypto exchange Binance has begun blocking U.S. users from accessing its exchange platform, The Block has learned.
The move comes more than a year after Binance first announced in July 2019 that it would stop serving U.S. residents from September of that year.
Until now, the exchange was still effectively allowing U.S. users to access its platform. As The Block reported recently, a U.S. resident just had to click "I'm not [American]" to set up an account on Binance.com. It remains possible to create an account in this fashion.
Binance is now sending emails to U.S. residents based on their IP addresses in what appears to be a significant step toward enforcing its previously announced blockade of such users. One such email, sent Sunday and obtained by The Block, reads:
"If you are a U.S. citizen or resident, please transfer your assets out of your account within 90 days. You may consider using Binance U.S. or other U.S. platforms," the email continues.
A member of Binance's customer support team told The Block that "once our system detects the access of account or the factors mentioned in the email are detected within the account then the following email notification will be sent out to users."
Binance's move comes soon after the U.S. government launched twin legal cases against crypto derivatives exchange BitMEX.
The U.S. Department of Justice and the Commodity Futures Trading Commission recently charged BitMEX and its founders for violating know-your-customer (KYC) and anti-money laundering regulations, among other allegations. In light of this case, BitMEX accelerated its KYC program, requiring all customers to be verified by November 5 — three months earlier than its original deadline of February 2021.
BitMEX rival Deribit will also require all users to become verified before the end of this year, as The Block reported last month. (Deribit already blocks U.S. residents based on IP addresses).
Binance itself appears to be on regulators' radar for avoiding scrutiny. In September, the Financial Action Task Force (FATF) published a report, hinting that Binance has spent years shifting the heart of its operations from place to place, ostensibly to avoid regulations.
Most recently, Forbes published a report, detailing what it described as Binance's efforts to avoid U.S. regulators' scrutiny. The report alleged that Binance "conceived of an elaborate corporate structure designed to intentionally deceive regulators and surreptitiously profit from crypto investors in the United States."
A dedicated U.S.-based arm, Binance.US, was launched in September 2019. Yet its volumes have remained tepid compared to Binance's primary platform.
Binance has begun to block U.S. users from accessing its exchange platform
Crypto exchange Binance has begun to block U.S. users from accessing its exchange platform, The Block has learned.www.theblockcrypto.com
FYI: You can still get an email only account on binance by using a VPN to connect
How much can you move without being verified? And do you really want to take the gamble if you have problems.
Hard crash to sub 3K levels not likely. Institutional investment sentiment too strong. Pay Pal and Cash App alone absorbing +100% of new mint.
Hope for a crash to 13K levels after smashing 20K.
I am long to 25K and accumulating on all dips below 20K.
2BTC per day max withdrawal.
It's all a gamble. Just have to spread your risk. Only have on exchange what you can afford to lose.
Stash stays in cold storage to minimize exchange risk as a best practice..
im mad i pulled my bitcoins at $13k , but i was cautious it might dip again, i pretty much made out even with my initial buy , no losses! had a few $ks in it tho ! but im satisfied i didnt lose so.. but my s
XRP ripple doing good ,
ETH is doing well
Litecoin is just about to break even after a year+ i think once i break even imma pull out of litecoin
XLM stella lumens doubled !
BAT doing ok (someone inhere gave me that info !)
i haven't really been paying attention but i really should
Track all your other coins against bitcoin.
You could then take the Bitcoin value out.
You could keep a position in alts and regain exposure to bitcoin's future bitcoin gains without new outlay.
Remember the whole point of crypto is to stack that which will have the most value.
im thinking cos i also got an international cell phone number in the uk , u think i can use that? but would i have to only use it in the UK?
thanks ..hmmm .. i might need u to break it down some more tho
Yeah my thinking is it'll drop down below $15k.
Once it gets close to 20k I'm moving into stable coins.
When you say stable coins you mean USDC? Also can you tell me whats the value in having stable coins?
There are different stable coins (USDC is one of them). There's also True USD, Tether (I don't trust it lol), and the Gemini exchange has one as well. Coins like USDC have a dollar for dollar backing so in theory if something calamitous happens to crypto, you'd still be able to redeem your USDC for cash.
The advantage of having stable coins is that if I have $1,000 let's say in USDC, and the market crashes, I still have $1,000 worth of USDC. The downside is if everything starts taking off, I'll still have only $1,000 worth.
By going into a stable coin, you can store them in a wallet just like you would with other coins, whereas with cash, you'd either have to leave your money on the exchange or pull it out and then transfer it back when you wanted to get back in. If you're dealing with large sums of money this is not ideal, since if you move over $10k into your bank account that will get reported to the IRS.
Whats the next ripple
I've been transferred my shit out since this government banned us from investing on outside exchanges. Just had 5k worth of shit left
Damn thanks for explaining this...All of these years I have been messing with bitcoin and alts and never knew anything about stable coins. I always wondered why in the hell Tether never fluctuated beyond $1.
Coinbase been fucking up since yesterday because of amazon cloud services fuckin up.this is why so many see crypto as good only for speculation...shit goes out and your money is in fucking limbo.
Anything new
A lot of the Youtubers have been complaining about coinbase for years now. Every time there is a massive run up coinbase shuts down. Three days ago XRP went up to $.90 and the coinbase site froze up. Stay away from coinbase
It all breaks down to what is going to have the most value over the time frame... 1yr, 5yrs, 10yrs, beyond...
All fiat (US Dollars, Euro, Yen, Yuan, Bolivars, etc.) are a confidence game. Meaning their value is only present when people have faith in them and the entity issuing them.
what do you think the value of the US Dollar is going to be over the above time frames with respect to how many US Dollars have been printed since March 2020 and injected into the system with no corresponding growth in actual domestic output?Personally, I see more dollars chasing after fewer actual goods.
This means higher prices for goods.
Meaning less value per dollar.
Look at prices and availability of core items in the supermarket...
55" TVs may be cheap now but beef, chicken, eggs, bread and veggies are getting pricey
: If bitcoin has a capped supply and dwindling distribution (less new coins coming into existence as per the halving), is bitcoin going to be worth less over the time frames above?Once you have decided which unit of measure (which is all currency really is) will have more value in the future per unit, you know which one is best to accumulate.
For me, bitcoin has proven to be the better store of value going forward based on past performance of BTC itself and the fact that US Dollars have and will be printed in the amounts necessary to prop up the US economy until...
I'm stacking satoshis until a better store of long term value emerges.Make your own decisions, I'm just typing...
Celsius is fucking great!
Got with them back in April or May and have been loving it. Their coin has been a BEAST this year. I started tracking it at 0.11, I then dollar cost averaged into it up to about 0.33. CEL is over 1.90 and is one of the few coins to keep its bullish indicator during this retrace.
Only problem is that Celsius is custodial meaning they hold your coins but so is BlockFi.
I'm personally looking at FulcrumLend. Better rates and non-custodial. But the fees are cost prohibitive for small amounts.
As always, do your own research...
As other have said Binance.US, Celsius and Kraken
Coinbase CEO: Brian Armstrong is worried the Trump Administration is about to send the cryptocurrency industry a parting gift.
Brian Armstrong is worried the Trump Administration is about to send the cryptocurrency industry a parting gift.
The Coinbase CEO took to Twitter Wednesday night to blast the U.S. Treasury Department’s rumored plans to attempt to track owners of self-hosted cryptocurrency wallets with an onerous set of data-collection requirements.
If the whispers are to be believed, outgoing Treasury Secretary Steven Mnuchin is preparing to tamp down on one of the fundamental tenets of the cryptocurrency ethos: the ability of the individual to hold their crypto (unmolested) themselves.
“This proposed regulation would, we think, require financial institutions like Coinbase to verify the recipient/owner of the self-hosted wallet, collecting identifying information on that party, before a withdrawal could be sent to that self-hosted wallet,” Armstrong tweeted.
If true, the regulation would represent a broadside against the U.S. cryptocurrency industry like few ever levied by the federal government. It would force corporations to know every counterparty to their users’ crypto transactions, keeping logs, tracking movements, and verifying identities even before a transfer could take place.
It would also bring to pass the worst-case scenario envisioned by industry players when the Financial Action Task Force (FATF), an intergovernmental body, told its member countries to apply the so-called travel rule to crypto businesses last year. This long-standing rule requires financial institutions to collect information about the sender and receiver of a money transfer. But it was ambiguous what that would mean when someone sends bitcoin (BTC, -13.01%) from, say, their Coinbase account to an address controlled by a private key on a sheet of paper kept in a sock drawer.
The Treasury Department did not immediately respond to a request for comment.
Widespread impact
And it would not just affect those who store their coins on a hardware device like Trezor or Ledger. Many crypto services use non-custodial wallets. Decentralized finance (DeFi) smart contracts. Software wallets, paper storage. All would need to prove their provenance to transact with regulated entities under the rumored rule.
Such a sweeping interpretation of FATF guidance has already been applied in Switzerland and the Netherlands. There, virtual asset service providers (VASPs) must prove the ownership of non-custodial crypto wallets ahead of transfer.
Armstrong said Wednesday that such a regulation “would be a terrible legacy and have long-standing negative impacts for the U.S.”
“This additional friction would kill many of the emerging use cases for crypto. Crypto is not just money – it is digitizing every type of asset,” he said.
To date, regulation of decentralized cryptocurrency networks had been mostly limited to the on/off ramps between the networks and the traditional finance system, according to Jacob Farber, partner at blockchain law and consulting firm Ouroboros LLP.
This state of affairs left the industry “mostly unregulated” and private, such that it has been able to offer a real alternative to traditional finance, Farber said.
“Imposing a KYC [know-your-customer] requirement on transactions between on/off ramps and every wallet that transacts with them expands the reach of regulation over crypto exponentially,” Farber added. “More importantly, it changes what crypto can be, at least at scale.”
He called Armstrong’s concerns justified and said these potential regulations should be taken seriously by the cryptocurrency community.
Preemptive strikes?
Armstrong’s tweets appeared to break long-simmering industry fears over this kind of regulation into full public view.
In recent days, multiple cryptocurrency lobbyists and advocacy groups have staged what in hindsight appears to have been a soft influence campaign to shape public opinion of non-custodial wallets.
Coin Center published a think piece on the “unintended consequences” of non-hosted wallet restrictions on Nov. 18.
The Blockchain Association, which Coinbase abandoned this year, released a 50-page policymakers’ guide to self-hosted wallets around the same time.
“The Blockchain Association has long been aware that some regulators in the U.S. and overseas have concerns about self-hosted wallets,” Executive Director Kristin Smith told CoinDesk. “We are actively educating officials in both the executive branch and the legislative branch in order to address misconceptions about self-hosted wallets.”
Coinbase CEO: Trump Administration May 'Rush Out' Burdensome Crypto Wallet Rules
Coinbase CEO Brian Armstrong publicly voiced concern the outgoing Trump Administration may ram through onerous new data-collection requirements for crypto exchanges.
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That is a problem as long as fiat is king. However there is a hedge fund app that will move profits to USDT when run-ups happen and there is significant volatility.
Check out Stoic by Cindicator Capital. I been using the app since September. Started with the minimum $1,000 deposit.
Value is now over $1,800.
And the app moved value to USDT when the mini bear hit and notified me this morning that it will begin trading back into other coins again soon.
You will need a full featured (non US) Binance account so fire up your VPN and anonymous email and get going!!!
Do your own research!!!