Cryptocurrency megathread V2 - Gas Fees Galore

[MilesAbove]

Soooo you’re saying there’s a chance!

I currently hold NO BTC. I can afford .01 so I may just have to do it!

Wait, you've been buying crypto and didn't base it with some BTC? You silly.... silly boy.

I'm gonna mention this one more time. Take it or leave it.

30% Crypto
30% Precious Metals
25% Stocks/Bonds etc...
15% Fiat

Within Crypto
50-60% to BTC/ETH
~25% to Strong Alts (Top 20s)
The rest to Stables in Yields, and take profits into there if you're not buying metals.
If you want non-strongs in alts, you level in with profits from the bigs.

 

[Henry Swanson]

Absolutely. Long term it is solid. Until 2023 it's a strong buy for me. Even if it takes some dives on it's way the decade-out prospect is quality (and still affordable for retailers like myself).

What denominations do you normally get? Single oz coins/rounds or do you favour larger bars to save money on premiums

 

[Strychnine]

Looks like Sen. Sherrod Brown is sounding the alarm.


Sen. Sherrod Brown tells the Fed to move forward on CBDC or risk being 'left behind'


"Senator Sherrod Brown (D-OH) is encouraging the Federal Reserve to take a closer look at a possible digital dollar.

In a March 1 letter to Chair Jerome Powell and Governor Lael Brainard, Brown said he strongly supports the central bank's study of central bank digital currency (CBDC).

"The Federal Reserve must lead the way on CBDCs and other digital payments, just as the Federal Reserve has done in moving forward with its faster payments system, FedNow," read Brown's letter.

The letter, dated March 1, warns that private actors and other nations are attempting to dominate the payment system, meaning the Fed must move swiftly to avoid being "left behind."

Sen. Sherrod Brown pens letter saying Fed must move forward on CBDC (theblockcrypto.com)


The U.S. Gov't needs to look at the writing on the wall.

 

[TeTe]

Looks like Sen. Sherrod Brown is sounding the alarm.


Sen. Sherrod Brown tells the Fed to move forward on CBDC or risk being 'left behind'


"Senator Sherrod Brown (D-OH) is encouraging the Federal Reserve to take a closer look at a possible digital dollar.

In a March 1 letter to Chair Jerome Powell and Governor Lael Brainard, Brown said he strongly supports the central bank's study of central bank digital currency (CBDC).

"The Federal Reserve must lead the way on CBDCs and other digital payments, just as the Federal Reserve has done in moving forward with its faster payments system, FedNow," read Brown's letter.

The letter, dated March 1, warns that private actors and other nations are attempting to dominate the payment system, meaning the Fed must move swiftly to avoid being "left behind."

Sen. Sherrod Brown pens letter saying Fed must move forward on CBDC (theblockcrypto.com)


The U.S. Gov't needs to look at the writing on the wall.

I mean, it's pretty much been digital for most people. Direct deposits, electronic bill pay, ach transfers, etc. Ive used cash maybe twice in the past six months.

 

[Rob Battisti]

I can’t remember the last time I used cash

 

[Woldog]

I mean, it's pretty much been digital for most people. Direct deposits, electronic bill pay, ach transfers, etc. Ive used cash maybe twice in the past six months.

Do you throw USB's at strippers or something?

 

[Rob Battisti]

Do you throw USB's at strippers or something?

MFC coins!

 

[SSgt Dickweed]

Wait, you've been buying crypto and didn't base it with some BTC? You silly.... silly boy.

I'm gonna mention this one more time. Take it or leave it.

30% Crypto
30% Precious Metals
25% Stocks/Bonds etc...
15% Fiat

Within Crypto
50-60% to BTC/ETH
~25% to Strong Alts (Top 20s)
The rest to Stables in Yields, and take profits into there if you're not buying metals.
If you want non-strongs in alts, you level in with profits from the bigs.

I have been thinking that it's not a bad idea to dollar-average cost and stick to splitting whatever fiat I put in crypto in the top 10 of coinmarketcap(dot)com.

But those low price coins/tokens, even at the 1000's and beyond rankings are tempting as hell.

 

[rj144]

Man, reporting it on your tax return is not straight forward. And it's all what you say it is.

Anyone else worried the IRS is going to do more audits for crypto?

 

[Rob Battisti]

Man, reporting it on your tax return is not straight forward. And it's all what you say it is.

Anyone else worried the IRS is going to do more audits for crypto?

hopefully not! At least with Robinhood it integrates into TurboTax. Quick and easy.

As far as precious metals go, I’ve looked into buying silver but the premiums don’t make it seem like it’s worth it. $33 and ounce when the market is $28. How is that worth the investment?

 

[Rob Battisti]

Not to junk up the thread with non-crypto, but how cool is this!?

https://www.scottsdalemint.com/product/archangel-michael-1-oz-9999-gold-bar/

 

[Henry Swanson]

These are my favourite.

https://www.scottsdalemint.com/product/american-gold-buffalo-any-year-1-oz-gold-coin/

 

[Strychnine]

Not to junk up the thread with non-crypto, but how cool is this!?

https://www.scottsdalemint.com/product/archangel-michael-1-oz-9999-gold-bar/

I have some older silver coins and dollars from when they were backed with silver. Got some WWI era dollars also. Now I know why they call a wallet a "billfold". Those things are HUGE.

My oldest one is a $7 silver note from the Massachusetts colony during the revolutionary war.


Precious Metal Coins | Gold | Silver | Palladium | Platinum (usmint.gov)

I try to buy at least a silver dollar per year from the U.S. mint also.

 

[Rob Battisti]

These are my favourite.

https://www.scottsdalemint.com/product/american-gold-buffalo-any-year-1-oz-gold-coin/

so cool!

Currently sitting in the parking lot of the children’s ER as my 5 week old son has a fever. They only let one parent in. I’m just sitting here thinking of getting him something that he can have all his life that’s a cool investment but also physical.

Ok that sounded weird. His fever has gone down but they still wanted to check him out.

 

[Woldog]

IMO ADA is shit shilled to noobs heavily. (not saying you're a noob or trying to be insulting in any way.)

I see Cardano marketed heavily on Youtube and everywhere.

But let's look at the reality.

1. It's a smart contract platform that still doesn't have smart contracts after years of promises.

2. 99% of Defi is on Ethereum. While Cardano literally doesn't have any projects on it yet (because no smart conract functionality.)

3. Charles Hoskinson, the founder of ADA, was unanimously kicked out Etherum in 2014 because he wanted to bring in VC money and centralize. Vitalik Buterin wanted it open source and decntralized. Basically, Hoskinson got greedy.

4. Hoskinson then tried to create an ETH competitor, ETH classic, which failed. He also completely ripped off the initial investors of IOHK (parent company of Cardano.) Hoskinson is essentially a greedy scumbag.

After doing my research after reading what you said. It does appear to have a cult like status right now. I'm starting to wonder if it is the most elaborate scam in modern history lol.

 

[TheMaster]

Within Crypto
50-60% to BTC/ETH
~25% to Strong Alts (Top 20s)
The rest to Stables in Yields, and take profits into there if you're not buying metals.
If you want non-strongs in alts, you level in with profits from the bigs.

It's about risk tolerance and projection of gains ultimately.
For me holding 10% in ETH/BTC is enough.
Gradually profits will also be moved to PAXGold so around 15% will end up there.
The remaining 70% will be in a few strong alts with industry partnerships like VET and maybe 5% in very low cap speculative alts.

I agree also that high yield stablecoins can be a good store of value to put some money into over traditional Fiat savings accounts as long as you do your research first and know what you are getting into.

One of the beauties of crypto is unlike traditional banking , exchanges can be done within minutes or even seconds sometimes.
So if you are keeping tabs on the markets every so often then you should be fine and not susceptible to any large drops where you wont be able to put the bulk of your holdings into Gold tokens or Stablecoins anyway if necessary.

So the term 'holding' should be understood in this way in the crypto space. You are only ever really a few minutes away from having your holdings back in stablecoins like USDT if you wish no matter what you are in.

I also don't believe that BTC and ETH are the only sure fire bets to survive in the crypto space at this point. I am happy to accumulate and HODL in VET for example a larger percentage as if you look at industry movement they are not going anywhere but up at this point, and the same can be said for a few other projects.

There is a good listing here of various portfolio distributions and different perspectives on rationales for them.

https://www.crypto-rating.com/portfolios/

 

[Henry Swanson]

so cool!

Currently sitting in the parking lot of the children’s ER as my 5 week old son has a fever. They only let one parent in. I’m just sitting here thinking of getting him something that he can have all his life that’s a cool investment but also physical.

Ok that sounded weird. His fever has gone down but they still wanted to check him out.

Lol! I totally get it.

I look at pm’s primarily as an emergency form
Of currency should the dollar absolutely tank. Even with premiums, the cost of silver and gold should go up long term.

If that never happens? Then Great. My gold and silver will just go to my kids.

 

[Rdude92]

Wait, you've been buying crypto and didn't base it with some BTC? You silly.... silly boy.

I'm gonna mention this one more time. Take it or leave it.

30% Crypto
30% Precious Metals
25% Stocks/Bonds etc...
15% Fiat

Within Crypto
50-60% to BTC/ETH
~25% to Strong Alts (Top 20s)
The rest to Stables in Yields, and take profits into there if you're not buying metals.
If you want non-strongs in alts, you level in with profits from the bigs.

Hey dont tell people what to do. Let him roam the fields and see what's there to profit from. I know a handful of people that are knee deep in crypto and grow their portfolios 8-10x in a year or so. But of course diversification is a hedge against market shutdowns

 

[kenetics]

Wait, you've been buying crypto and didn't base it with some BTC? You silly.... silly boy.

I'm gonna mention this one more time. Take it or leave it.

30% Crypto
30% Precious Metals
25% Stocks/Bonds etc...
15% Fiat

Within Crypto
50-60% to BTC/ETH
~25% to Strong Alts (Top 20s)
The rest to Stables in Yields, and take profits into there if you're not buying metals.
If you want non-strongs in alts, you level in with profits from the bigs.

Pretty much how my portfolio looks like.

 

[meauneau]

@m25105 why do you think all the high ranking marines, who were in early, are selling?

Some are suggesting they are selling LINK to buy BANCOR.