Respectfully disagreeing with Leo about Crypto

[josemar]

@Dodo you may want to remove your real name in the screenshots 

[bebotalk]

it's time people promoted it for its original function, as an alternative currency. you don't see many firms offering it as an alternative payment option these days, compared to five years ago.

[josemar]

34 minutes ago, bebotalk said:

it's time people promoted it for its original function, as an alternative currency. you don't see many firms offering it as an alternative payment option these days, compared to five years ago.

https://map.bitcoin.com/

 

[bebotalk]

35 minutes ago, josemar said:

https://map.bitcoin.com/

 

not the point. why don't amazon or other big e-commerce retailers provide it? some shoddy small businesses isn't it.

[Dodo]

5 hours ago, josemar said:

@Dodo you may want to remove your real name in the screenshots 

Is fine bro, its not a secret, that used to be my username back when i posted chart. 

[Dodo]

On 29/02/2024 at 0:51 PM, Wizardking said:

I’m a bit split whether it is morally wrong to invest in crypto or not. Yes, winning money means someone else loses it. But if you’re investing in crypto because you believe it is the future and brings more value than the current centralised financial system does then why should you feel bad when someone who is just in it to win money buys high and sells low? People should only invest in things they believe will bring value to the world and if they don’t and instead they do it out of greed then they have no one to blame but themselves. I might be wrong tho. Might have missed something. Want to hear others take on this

its a highly leveraged game. People win and lose in 1% moves either direction even. There will be people losing no matter which direction it goes. In fact the chart constantly tries to fool leveraged traders with sharp moves and quick reversals. 

If you know what its doing this can help you get in low risk, if you dont, then the price movements will play with your psychology and you will consistently make wrong decisions such as buy high or sell low. 

Its a very tough game. In fact, i have to be ready to lose, because there is no reward without risk. 

 

[josemar]

On 29/02/2024 at 2:48 PM, bebotalk said:

not the point. why don't amazon or other big e-commerce retailers provide it? some shoddy small businesses isn't it.

You an spend crypto with a debit card, Nexo is what I'm using currently, they also give up to 11% interest on balance.

 

[Dodo]

20 hours ago, josemar said:

You an spend crypto with a debit card, Nexo is what I'm using currently, they also give up to 11% interest on balance.

 

Wirex also provide a card. How are things which coins are your favs? We nearly hit 69k few hours ago, above 69k i expect explosive price discovery, but everyone dyor if i lose i lose because of what i believe in. 

Im on Gala, Ada, Ltc, Matic and XRP in chronological order of entry. 

Edited March 5 by Dodo

[josemar]

 

2 hours ago, Dodo said:

Wirex also provide a card. How are things which coins are your favs? We nearly hit 69k few hours ago, above 69k i expect explosive price discovery, but everyone dyor if i lose i lose because of what i believe in. 

Im on Gala, Ada, Ltc, Matic and XRP in chronological order of entry. 

Bitcoin, Sol, solalts, and 1% gambling on meme coins (bonk and pepe)

And I've a 100k long position on btc since 54k, printing nicely

Edited March 5 by josemar

[Dodo]

2 hours ago, josemar said:

 

Bitcoin, Sol, solalts, and 1% gambling on meme coins (bonk and pepe)

And I've a 100k long position on btc since 54k, printing nicely

Wow, you are rich guy i am completely different story, i turned 60 bucks on high leverage into now 3.5k with my positions.

Were only 50x gala and 75x ada originally,  then took some profit from those and add onto ltc 50x, then once that was secured, took some profits into matic 50x, and recently into xrp 125x .

All positions bought at great places after scary dips, that would deter inexperienced players from buying on high leverage. 

Xrp is still in danger level because its my latest buy, but it survived this morning dump, the others already have a great profit cushion. Playing with house money. 

Edited March 5 by Dodo

[Dodo]

Come on, xrp, do something! Get inspired by meme coins  btw, xrp right now is at a historic all time low against btc so it could be its time soon.

Edited March 5 by Dodo

[josemar]

 

1 hour ago, Dodo said:

Wow, you are rich guy i am completely different story, i turned 60 bucks on high leverage into now 3.5k with my positions.

Were only 50x gala and 75x ada originally,  then took some profit from those and add onto ltc 50x, then once that was secured, took some profits into matic 50x, and recently into xrp 125x .

All positions bought at great places after scary dips, that would deter inexperienced players from buying on high leverage. 

Xrp is still in danger level because its my latest buy, but it survived this morning dump, the others already have a great profit cushion. Playing with house money. 

I mean I'm not poor, but rich? You should see the traders in the group I'm in 

I normally enter a position on 50x leverage, I probably entered this one around 50k, and took partial profits at various levels, and also added to the position on dips. This is when the TA is on point with proper risk management, you have to wait for the price to come to your predefined levels.

Once the price is moving in your direction 5-10%+, you can take partial profits, move stop loss to entry or in profit, and even change the leverage, e.g. from 50x to 100-200x, since you're not in danger of being liquidated.

So from the initial 2k margin (my own money), I now have 500 of my own money for the 100k position.

Of course don't enter a position with 200x leverage, or you'll be liquidated quickly. 

If I knew what I know now a year ago (even with no knowledge of TA)  I would have made much more money, entering positions on 1x leverage, then even if your entry is not perfect, you can afford to wait for the price to come back in profit, and then implement the strategy above. You can't go wrong with this in a bull market, since price will eventually go up. For example, lets say you enter a long 1x position at ATH of 69k, then bitcoin drops 30%... you can just wait for the price to come back in a week, a month, 6 months, and maybe even add to the position at 30% discount. Is there a chance to not recover? Not really, unless bitcoin fails, which it is not going to do . And in the meantime, if price doesn't dip but keeps going up, you're making money

This is risky for altcoins since they can drop much faster and are not always guaranteed to come back to ATHs.

PS. Jayson Casper is live now, come get some !!!

 

 

[josemar]

Boom, new ATH 

[Dodo]

3 hours ago, josemar said:

Boom, new ATH 

Boom my xrp position got closed lol. I knew this dip was possible so i had sl at break even on xrp. We touched 4h bottom bands where i usually enter low risk high reward if it works gain big, if it doesnt lose small

 

Edited March 5 by Dodo

[Dodo]

Yeah, today was nasty. 

[bebotalk]

On 04/03/2024 at 11:41 AM, josemar said:

You an spend crypto with a debit card, Nexo is what I'm using currently, they also give up to 11% interest on balance.

 

So then it hasn't caught on in its original and true purpose, has it? Is that so bad to point out?

[josemar]

5 hours ago, Dodo said:

Yeah, today was nasty. 

Not if you shorted the ATH, happened live on Jayson's stream...

4 hours ago, bebotalk said:

So then it hasn't caught on in its original and true purpose, has it? Is that so bad to point out?

What's the original and true purpose, whatever Satoshi wrote in his whitepaper?

Presumably you're talking specifically about bitcoin? It's a store of value, like real estate, gold, stocks etc. You can't pay  for a coffee with most of these directly.

 

[bebotalk]

6 hours ago, josemar said:

Not if you shorted the ATH, happened live on Jayson's stream...

What's the original and true purpose, whatever Satoshi wrote in his whitepaper?

Presumably you're talking specifically about bitcoin? It's a store of value, like real estate, gold, stocks etc. You can't pay  for a coffee with most of these directly.

 

Isn't this entire thread about bitcoin? It's pretty clear that it hasn't achieved its purpose, as an alternative currency. I don't know why you're being deliberately obtuse. 

 

Edited March 6 by bebotalk

[FourCrossedWands]

Happy gambling!

[josemar]

3 hours ago, bebotalk said:

Isn't this entire thread about bitcoin? It's pretty clear that it hasn't achieved its purpose, as an alternative currency. I don't know why you're being deliberately obtuse. 

 

The title of the thread is about crypto, and posts discuss crypto in general.

Satoshi was wrong about the currency part, but that doesn't matter... There are other examples in history when new products are used in different ways than intended by the inventor/original, doesn't make it any less useful. 

You could use bitcoin to pay for small stuff, but the transaction prices are prohibitive... because of the price of bitcoin.

Now, you can take advantage of the properties of bitcoin as a much better store of value than real estate, gold, stocks etc, or you can crib and moan about how it's not fulfilling Satoshi's vision.

As a currency, it seems Solana is much better suited, it has much higher speed (with final settlement at level 1 in milliseconds), very low fees (pennies), with the disadvantage that it is more centralized. Decentralization is not much of an advantage for day to day purchases.

And I'm sure there are others.

Even the crypto equivalent of the USD, Tether, is much faster for transfers around the globe with much lower fees.