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/biz/ - Business & Finance

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28662396 No.28662396 [Reply] [Original]

Is anyone else here holding BTC and has no intention of selling it and is okay with a crash because if it did crash that you would just buy more?

Makes me wonder because if all of us Bitcoin holders are using this same strategy it means it’s never going to crash until the majority of us stop thinking like this

>> No.28662939

>>28662396
Yeah hodling till 1 million.
Got in at $100

>> No.28662987
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28662987

>>28662396
Just sold .5 btc, market is getting hot and want to buy eth in the next dip

>> No.28663003

Yes I'm literally never selling. The nonstop fud on biz are just short sellers.

>> No.28663352

>>28662987
How can you tell it's hot?

>> No.28663719

>>28663352
My coworker wants to buy bitcoin

Besides that there seems to be a lot of optimism around bitcoin, so much so that it's leaking into the normiesphere

Don't get me wrong, it might keep going up, but we're due for a healthy correction

>> No.28663806

>>28663719
Retail investor interest in Bitcoin is 50% less than what it was in 2017 peak mate

>> No.28663848

Never selling. Earning interest daily which will double my # of btc in five years. Will use the btc as collateral for loans whenever I need to purchase something expensive. Buying every dip.

>> No.28663895

>>28662987
Bruh eth is already dead

>> No.28664102

>>28663806
> Retail investor interest in Bitcoin is 50% less than what it was in 2017 peak mate
huh
really? source?

>> No.28664116

>>28663719
Some random guy with a 2k portfolio on my Snapchat said "crypto will never be this low again" make of it what you will

>> No.28664146

>>28664102
>source?
his anus

>> No.28664287

>>28663848
What's the highest % you're getting on your BTC and where?

>> No.28664398

I dont sell btc I just buy more and trade to get more.
Buy on margin during bull run, make profit on alts, sleep on btc gains during bear market.

>> No.28664580

>>28662396

This is exactly my thinking. I would love it if it crashed right now. I'm not over exposed and I can afford to buy more. DCA'ing right now.

>> No.28664612

>>28664287
I use Celsius, Nexo, BlockFi, and Voyager. They're all around 5-6.5%. There are other platforms like crypto.com, Bit true, LEDN, Credearn, Haru, nebeus etc.

>> No.28664665

>>28664612
Thanks man.

>> No.28664671

>>28662396
I dont think the crash will be anywhere near as bad as people say, alts will take a big hit but with the resent elon backing and its penetration into normie culture is pretty solid that it will stay relevant. unless a miracle cure for corvid is found we are still going to have massive amounts of people trading heavily for a long time to come, and its only getting more popular

>> No.28664687

The only thing I care about is a bigger portfolio in sats.

>> No.28664801

>>28664612
Aren't you worried about losing it all? After the CRED shitstorm I'm honestly surprised to see people so OK with risking their BTC with third parties.

>> No.28664941

>>28664801

I'm collecting interest on my BTC too but I only use BlockFi. It's backed by the Winklevoss twins and they are BTC loaded.

>> No.28664965

>>28664801
this is why i haven't done it

>> No.28664963
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28664963

>>28663719
This was your healthy correction, next stop 70k; sorry champoid

>> No.28665342

>>28664941
Thought about gemini earn? I am tempted by these lending programs but they don't disclose exactly who your counterparties are and how you funds are borrowed. I'd be ok if they split up my bitcoin into a portfolio of loans owed by institutional investors. Wouldn't be ok with the entire pot going out to one retail playing with leverage

>> No.28665410

>>28663352
Too many cryptos are at an all time high.

>> No.28665524

>>28665342
Your loan is secured by the intermediary right? The counterparty risk is with them, rather than the end borrower?

I'm new to this so not sure, but I would expect that's how it works?

>> No.28665653
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28665653

>>28662939

>mfw BTC approaches 1 million when everyone is planning to dump

>> No.28666524

>>28665524
Basically gemini is the middleman. Tokens borrowed through earn are borrowed by "fully disclosed institutions" of which there is only one (Genesis)
>Gemini serves as your agent and facilitates the transfer of funds to borrowers and the transfer of principal and interest back to your Gemini account. However, Gemini is not your counterparty and does not insure or guarantee your principal.
Gensis
>lends digital assets like BTC and USDC structured to meet the needs of institutional funds and market-makers.
Accredited investors too. Supposedly they're auditing genisis and anyone else that comes along to be part of this venture.
Then in their disclosures......
>YOUR AVAILABLE DIGITAL ASSETS WILL LEAVE GEMINI’S CUSTODY, AND YOU ACCEPT THE RISK OF LOSS ASSOCIATED WITH LOAN TRANSACTIONS, UP TO AND INCLUDING TOTAL LOSS OF YOUR AVAILABLE DIGITAL ASSETS.
>Loans made through the Program are unsecured. You have exposure to Borrower credit risk, and Borrowers are not required to post collateral to you or to Gemini.
>Gemini is not a principal to any Loan, and Gemini has no obligation or ability to return the Loaned Digital Assets from your Borrower in the event of a Borrower default.
>The Borrower is not required to custody or maintain the Loaned Digital Assets with Gemini or any other Gemini-controlled account. Gemini will not be responsible for any Digital Assets once they leave Gemini’s custody.
https://www.gemini.com/legal/gemini-earn-program-terms-and-authorization-agreement#section-1-program-risks

It all sounds good until the disclosures. Many such cases lol

>> No.28666546
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28666546

>>28662396
All what's going to happen if it goes down is that I will buy more. I've been waiting for it to go down since it went to 46k to go back to 28k and I'm still waiting. I wonder what effect Biden's retarded decision to get minimum wage to $15 is gonna have.

>> No.28666719

>>28662396
I admire the long-term hodlers, but I'll be trying to cash out some time this cycle. I got laid off because of the collapsed economy, and honestly fuck wageslaving. But this means that I can't afford to just let it ride through an entire extra bear/bull market macro-cycle. But I invested a good amount in 2019-2020 and hopefully I'll be in 7 figures by the time this is done. From there I can use ETFs for modest passive income, and I can always reinvest into bitcoin during the bear market.

>> No.28667195
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28667195

I believe in it fundamentally.
I support it morally.
I will spend it to support adoption and buy more to replace that.
I'm not looking to sell for fiat, I hodl for the day I don't have to.

>> No.28667336

>>28665653
by the time that happens they won't have any fiat of value to dump into

>> No.28667938

>>28664801
yeah its a pretty big risk no lie. Thats partly why I spread out some BTC on 4 platforms and I keep the rest in a hardware wallet.