Bitcoin....who's gotten into it?

[DJSapp]

So what's the play here, ride the bubble right up to the start of the futures market and jump off before the futures stabilize it/pop the bubble?

[4matic]

We saw positioning ahead of FANG futures. FANG down big across the board today.

The difference for BTC is supply. BTC is similar to gold in that respect. Gold supply has little to do with price.

[DBdude]

So what's the play here, ride the bubble right up to the start of the futures market and jump off before the futures stabilize it/pop the bubble?

it depends on how much risk you can tolerate. if bit coin blows up, it will come from left field.

[JimmyCarter]

it depends on how much risk you can tolerate. if bit coin blows up, it will come from left field.

If/when bitcoin blows up it will be from the transaction costs outweighing the benefits.

[Evil E]

Is there another crypto with potential if I don't want to buy in at $11k for BTC?

[DJSapp]

Is there another crypto with potential if I don't want to buy in at $11k for BTC?

GBTC, over the counter bitcoin investment trust. 1 share is approximately 0.09 BTC. It does come at a premium vs buying BTC directly, but you can also buy it via a Roth IRA and skip the taxes.

[skaredshtles]

<snip> but you can also buy it via a Roth IRA and skip the taxes.

Waits with bated breath to hear the sob stories of people who lost their entire IRA due to irrational exuberance regarding BTC...

[DJSapp]

Waits with bated breath to hear the sob stories of people who lost their entire IRA due to irrational exuberance regarding BTC...

Stop limit orders are your friend...

[SKIP IN7RO]

Waits with bated breath to hear the sob stories of people who lost their entire IRA due to irrational exuberance regarding BTC...

This could be the huge transfer of wealth some articles are touting.

[4matic]

Odd that you can put pre tax money in an unregulated untaxed security into an IRA. I can’t even put my OAK capital into an IRA.

[JimmyCarter]

Is there another crypto with potential if I don't want to buy in at $11k for BTC?

You think BTC is overvalued relative to other cryptos or you don't like the price?

[ICantLogIn]

GBTC, over the counter bitcoin investment trust. 1 share is approximately 0.09 BTC. It does come at a premium vs buying BTC directly, but you can also buy it via a Roth IRA and skip the taxes.

Does that have some kind of circuit breaker to it?

[klauss]

Mortgage your house, use your credit cards, sell your quivers. You don't have to buy a whole BTC. A satoshi is 0.00000001 btc and I own a lot of those

[DJSapp]

Odd that you can put pre tax money in an unregulated untaxed security into an IRA. I can’t even put my OAK capital into an IRA.

Roth IRA is post tax. I don't think you can do that with a conventional IRA.

[ICantLogIn]

I don't want to buy in at $11k for BTC?

Thats what I was saying at $2000.

[4matic]

Does that have some kind of circuit breaker to it?

Exchange circuit breakers. Same for all stocks.

[4matic]

Roth IRA is post tax. I don't think you can do that with a conventional IRA.

I doubt OAK would be ok for Roth either because partnership income is not tax deferred. If BTC is not taxed why put it in a Roth to begin with? It’s not like you declare a basis.

[Evil E]

I was thinking it stands to reason that other cryptos may increase In Value in the years ahead and could have similar runs to Bitcoin ahead of them. Just wondering if there is another option to buying into BTC that has a drastically Lower price point compared to the $11k price of BTC. I like thinking long term and $11k isn't an option for me currently. Is anyone diversified in crypto currency or is everyone simply all in on BTC?

[klauss]

good luck

https://coinmarketcap.com/all/views/all/

[4matic]

I was thinking it stands to reason that other cryptos may increase In Value in the years ahead and could have similar runs to Bitcoin ahead of them. Just wondering if there is another option to buying into BTC that has a drastically Lower price point compared to the $11k price of BTC. I like thinking long term and $11k isn't an option for me currently. Is anyone diversified in crypto currency or is everyone simply all in on BTC?

Got this email from long time crypto investor buddy fwiw:

On usd terms I'm probably 50/50 split between btc and altcoins, mainly bitcoin cash, komodo, waves. Smaller positions in ripple, ardor. Actually the waves and komodo positions have done me well to this point.

I've been skeptical about the talk of market manipulation in the past but now am starting to lean towards the possibility that bitfinex and usdt are and have been up to shenanigans.

Had some cash lying around in gdax which was there for additional purchases which I've pulled out this weekend but haven't liquidated any positions.

Bittrex may have screwed me, they announced without warning that withdrawals are frozen for non-verified accounts. Went through the auto verification process and it failed and now need to go through support to get verified. Ticket's been hanging out for a month now w/o any word from support. Can still trade and give them fees but can't withdraw. Luckily I've only got a some positions sitting there so if it's ultimately lost it's not a huge deal.

[skaredshtles]

Stop limit orders are your friend...

Preeeeeety sure that anyone who invests their entire IRA in BTC is not going to know anything about stop limit orders...

[klauss]

Bitcoin has dropped back down through 8600. nice swing. so it's not 11k anymore

[4matic]

If price goes through your limit before the order is executed a stop limit order will not get executed.

[4matic]

25% trading range today.

[4matic]

Make that 30% trading range.