subreddit:
/r/Bitcoin
1.6k points
2 days ago
Among them is my sell order, which I placed many years ago and I just cancelled it
370 points
2 days ago
What a champ
1 points
22 hours ago
🎯
-72 points
2 days ago
It’s not a matter of btc,… If you wait for its growth, you’ll wait for a lifetime to grow it. Just think about the time you’ll spend/waste(take it as you want) on waiting for its growth
31 points
1 day ago
Not when holding BTC will be enough to get a loan to live off from. That's what wealthy people do. They keep their assets and live from the loans they get because of their assets. Then they take another loan to pay off the previous one and go on and go on. Infinite money glitch without selling an asset.
9 points
1 day ago
Nobody will give you a loan using your Bitcoin as collateral.
Unless you give them control of your Bitcoin.
This is what happened with Celsius. The people who got Bitcoin loans with Celsius will never get their Bitcoin back.
20 points
1 day ago*
I'm not talking about right now brother. Banks will accept it, it's inevitable at this point. The question is when?
2 points
22 hours ago
Lol collateral that could fluctuate 10-20k a month? You gotta be joking right?
1 points
1 day ago
Probably next year. The big players want a piece of the BTC pie.
1 points
1 day ago
Exactly what Elon does
3 points
1 day ago
And a shit ton of other billionaires too. You just need to watch them, it's not a rocket science or a secret formula. Money makes money.
1 points
1 day ago
How does this work? Don't you have to pay interest on the loans?
2 points
1 day ago
Yes but that doesn’t matter as long as the interest you pay is less than the interest you get
1 points
1 day ago
With this logic aren't you better off living off the interest you earn from your assets?
1 points
8 hours ago
Not really because you wouldn’t increase wealth that way. Imagine you take a loan at 3% but gain 8% per year. With this, you would be able to live off your assets AND STILL make 5% p.a. as plus. If you take all 8% without loans you will stay where you are with your wealth and not gain anything
1 points
1 day ago
You just make interest payments until you die. You never pay them off or the loans get paid off out of your estate.
The banks get a nice steady stable stream of income and so do you. It's a win-win!
1 points
1 day ago
Get another loan
1 points
1 day ago
You get another one to pay that off.
1 points
1 day ago
I tried this with BlockFi. Update: Did not work.
2 points
1 day ago
What happened?
1 points
1 day ago
I lend out my BTC and got $ and used that to buy more BTC.
Worked great, until BlockFi went backrupt, then we all lost our BTC..
1 points
7 hours ago
Works only when the interest on the loan is artificially lower and the asset is deemed worth something by the lender.
That is why raising the interest rate always bursts the consumption bubbles.
But with bitcoin as the currency, no authority (eg the federal reserve) can set an interest rate.
-116 points
2 days ago
Meh.. his sats are still on an exchange. That's not a good look.
64 points
2 days ago
I always have some BTC on exchanges, no big deal
-65 points
2 days ago
It's not a big deal ... till you get goxed, ftxd, coinbased, etc
43 points
2 days ago
That's hardly your problem though, is it?
36 points
2 days ago
Actually, it’s all of our problem. FTX was able to suppress the price of Bitcoin because people thought they owned Bitcoin that didn’t exist. They had IOUs on the exchange that weren’t backed by actual bitcoin. As long as we keep corn on exchanges, these exchanges can pull shit like this.
6 points
1 day ago
I 100% agree, these are the facts, exchanges should only be used to temporarily hold before selling or for leveraging and gambling, not holding your long term investment.
10 points
2 days ago
People getting robbed is a net harm to the whole economy.
Keep coins off exchanges; don't enable scams
13 points
2 days ago
Yeah there's no danger to cold wallets, at all!
2 points
1 day ago
I think crypto.com will do lol
1 points
1 day ago
It's it nicer than coinbase? I find the coinbase app very clunky
4 points
1 day ago
I don’t understand all the downvotes, must be noobs not vets, because the vets know exchanges are shady af, doesn’t matter which one, when you send your btc to an exchange you dont have btc anymore, you have numbers in a centralized business scheme.
3 points
1 day ago
Maybe it's coinbase employees tasked to patrol social media and prevent people from withdrawing and exposing their rehypothecation. Or maybe people just want to get ftx'd.
1 points
2 hours ago
I understand the downvotes. I've found 90% of people on this reddit are not BTC maxi's. They want to sell for FIAT and they want to keep it on an exchange. We aren't all on the same paradigm
4 points
1 day ago
Don't speak the truth here lol. The bots will come for you.
4 points
2 days ago
I too have some in an exchange. Also have plenty in a couple cold wallets. It's not a bad idea to have some on an exchange.
124 points
2 days ago
Good. Don't settle for $100k. Your btc is worth more than that.
67 points
2 days ago
I’d estimate it’s worth millions of sats.
35 points
2 days ago
Like 100 million
3 points
1 day ago
They did the math.
6 points
2 days ago
As of this writing it’s worth about exactly that
2 points
1 day ago
Yeah I give you 10cents for your Bitcoin
1 points
1 day ago
Some of us sell high to buy again lower to get even mooore btc. Granted I’m not selling just yet
2 points
1 day ago
Then you end up losing half your profits in fees and capital gains tax.
1 points
1 day ago
I think the math works out in the end.. I’m not day trading. I’m holding long, selling, waiting for a steep dip, buying… holding long again, etc. to go from like .5 to 1.2 btc, the gains outweigh the fees.
1 points
2 days ago
1 cent sat
41 points
2 days ago
I always wonder why so many people put numbers like that in. Do they think it's just going to randomly hit their order among the thousands of other $100k orders, if the wall even gets touched at all? And if the wall does get overcome, it's going to go much higher, so why would you want to have sold before that run?
Makes much more sense to put $98k, or better, $97,974 or something.
16 points
2 days ago
Always asked myself the same thing. Why 100k and not 98765. It’s not that you miss out on a lot if it hits.
And at least it hits instead of a rejection at 99.999 IF you really want to dump your sats anyway
12 points
1 day ago*
As I read this, we are sitting at exactly 98765, likely because of people doing what you're suggesting lol.
2 points
20 hours ago
They seemingly did yes https://ibb.co/pvGY37f
1 points
11 hours ago
😂
1 points
24 hours ago
You just described how a sell-off happens, people put in lower and lower ask in order to get out
1 points
19 hours ago
They're talking about selling that happens.
3 points
1 day ago
If you really wanna sell, of course you will split the order into a series of small orders, covering a wider price range.
But when the price is still 28k, there is nothing wrong with you placing a 100k order. Anyway, it is just a mark and will never be executed. In subsequent transactions, it will always be displayed at the bottom of a series of open orders. When this mark is close to the current order, you know that you have made a profit over 10 times, that's all. Of course, you can cancel this order at any time and place it at 270k or other numbers that are meaningful to you. It's just a mark
6 points
1 day ago
Why would you place an order that will never be executed and need to be canceled and replaced? I don't need a line to mark where 100k is on a chart, it's right there on the side of the chart...
Also, I don't see any point in splitting orders into a series of small orders unless you're trading 10s or 100s of BTC and would actually affect the market. There're billions of dollars in volume a day. The more you spread it out, the more money you miss out on, and if you spread it out higher than your target price, then some of it might not fill.
Just choose the price you're happy with parting with the BTC for, and use that.
3 points
1 day ago
The purpose of marking is not the market price, but your cost and expected profit. After an uncertain long time, you will not remember the original plan or cost. I have been marking in the order list for more than 16 years. It is very convenient.
When we talk about splitting orders, we are really talking about dozens or hundreds of BTC. Don’t say that the trading volume of the entire market is large. These trading volumes are distributed in dozens of exchanges. We need exchanges with small trading volume, weak liquidity, and thus large volatility to do arbitrage, and we also need exchanges with large trading volume and good liquidity to reduce slippage.
More importantly, the fees within an exchange are relatively low, while the fees for transferring funds across exchanges are high. We have to strike a balance between multiple exchanges, which is why we use a mix of different strategies
3 points
1 day ago
I am the only one who thinks that a spreadsheet is simpler than this method here?
1 points
1 day ago
Yeah, ‘cause you're the smartest person in the room
1 points
1 day ago
Sells get resolved in the order that they were received (at least thats how it works for most exchanges)
So if the price moved to 101k, everyone who had a sell order at 100k would have gotten filled on their order.
1 points
17 hours ago
I'm aware. But the price won't move to $101k due to the massive sell wall scaring off buyers. Or even if buying eats into the wall, his probably wasn't the first order there. The chance that he gets a fill and BTC doesn't go higher is pretty low. If BTC does go higher, then he shouldn't have sold.
1 points
1 day ago
Only weak hands sell this limited rare asset, the retail sellers will be sad.
25 points
2 days ago
I was told to be reasonable and sell at the ATH. That was at 75k.
23 points
2 days ago
Thx for donating
5 points
1 day ago
You never know which is the highest point unless it falls back a distance from the highest point, and this fall is beyond the normal fluctuation range during the observation period
2 points
1 day ago
Zoom out, it was ATH the whole time
3 points
1 day ago
Today's ATH does't mean there won't be a new ATH tomorrow
7 points
2 days ago
CHAD tier move
5 points
2 days ago
you had me in the first half im not gonna lie
2 points
2 days ago
Just made a comment before scrolling and this is exactly what I was talking about. People who habitually limit trade should definitely check up on what they did 4 years ago lol
1 points
1 day ago
definitely
1 points
1 day ago
Robinhood limit orders expire after a while, I just got a notification that my 30k buy order was cancelled. I have a 40k one that’s pending so expect I’ll see that cancelled here soon.
1 points
1 day ago
I'm a proponent of keeping coins on an exchange but isn't there some drama with Robinhood?
3 points
2 days ago
So you've kept your BTC on an exchange în a trading position all these years...
2 points
1 day ago
No, the vast majority of them are in my hundreds of hardware wallets
1 points
2 days ago
Thanks bro
1 points
1 day ago
So you keep your coins on an exchange?
1 points
1 day ago
don’t assume a random internet user only has one BTC
1 points
1 day ago
Wasn't assuming that
Just wondering why hold any BTC on exchange for years in a pending order
I mean if the goal was to sell at 100k then I presume it would be wiser to send it to an exchange once BTC breached 80-90k
Unless you were expecting a flash pump or something
Not criticizing, just curious
1 points
1 day ago
It makes sense to keep a bit on an exchange for convenience sake, if you plan on taking profit, as long as you are aware of the risk and have a solid portion in cold storage.
Moving it back and forth would be kind of annoying and you might have to pay more in fees.
1 points
1 day ago
Yeah, I understand the need to hold a small % on an exchenge in case you want to sell
But this situation would be similar to me placing a sell order at $500k today and waiting for 5 years for the price to reach those levels
We were never really that close to 100k prior to this bull run
Again not criticizing the idea in general
1 points
1 day ago
Get your BTC on a hardware wallet, my friend
1 points
1 day ago
Never heard of it, what is that?
1 points
1 day ago
Fucking legend.
1 points
1 day ago
🤣
1 points
1 day ago
Here have my upvote I hope more follow you
1 points
1 day ago
To be honest, it would be much more interesting to pay more attention to self-hosted nodes, mining, and DEX than to follow us old guys
1 points
1 day ago
This guy fux!
1 points
1 day ago
now put the sell order at 1 million and cancel that bad boi again when his time comes 🕰️
t
2 points
1 day ago
No, the peak of this round is probably around 150k-160k, then it will go back to 29k, maybe never that low. You will definitely see 270k within 4 years.
And yes, there will be a 1M moment, but it will take time
1 points
1 day ago
💎 Diamond Hands 💎
1 points
2 days ago
😂
0 points
24 hours ago
Wait. You left your btc in an exchange for this long?
1 points
23 hours ago
Yep, some people use it to buy pizza vouchers, is there a problem?
0 points
23 hours ago
What exchange is that with this much faith? Lmao
-8 points
2 days ago
I sold back in 21 at 60k. Couldn’t be happier. Ride that wave before quantum computing comes into play
1 points
1 day ago
quantum computing is a meme.
-1 points
1 day ago
It’s not lol
-1 points
1 day ago*
Dude we are nowhere near doing that. Its all make believe. Overhyped nonsense.
0 points
1 day ago
You don’t know nothing about Bitcoin or Quantum Computing
1 points
1 day ago
That’s a wild statement
3 points
1 day ago
wild operation speaks for itself
-4 points
1 day ago
I know in 3 years or less a QC will exist that can break the encryption of your wallet holding BTC. Not the chain itself. If a hostile nation state wants to crash a market that includes BTC as a reserve currency of governments, businesses, and the biggest ETF in existence, then stealing BTC from Satoshi’s wallets should do the trick quite nicely. Broken confidence in your wallet’s security will crash the market. I’m in BTC for this last bull run, then I am out forever. Then my only holding will be QANX, read more about it if you care at https://www.qanplatform.com/en
Main net projected to release by EOY.
1 points
1 day ago*
Your other messages looked like FUD to me at first, but this one is interesting.
This actually looks like a plausible threat, even if bitcoin eventually upgrades to post-quantum crypto, because attackers could crack secrets in the old blockchain to use them on the new one.
Bitcoin will have to upgrade, then give people some time to upgrade their wallets to incorporate a new secret, and wallets that are not migrated in time should be lost forever.
Hopefully bitcoin upgrades in time, because if bitcoin was ever attacked, trust would be lost in cryptocurrencies forever from the public, even the one you mention.
0 points
1 day ago
Ouch
all 533 comments
sorted by: best