BTC

djscoox

Gold isn't going to near zero because many people wills till prefer gold as a store of value. It's dense, it's pretty, it's fungible and it's scarce. People instinctively gravitate towards gold. Gold doesn't require any complex mathematics, software or electrical power: you hold it in your hand—done, it's yours. Asteroid mining in the next 100 years is probably not something we should worry about; besides, it's unlikely that asteroid mining will be a thing, ever, because the logistics don't make sense. BTC won't replace gold. At best it will compete with gold for market cap and a 50% share of the SoV space is a very bullish forecast.

Optimistic-Pie123

I agree. It's not the loan itself. My buddy invested his student loan into index funds and some individual blue chip stocks and it went well for him. He hasn't paid back the loan but he can easily do it. The risk isn't the loan but the timing like you pointed out. I mean, imagine if he'd done that before a long bear market. It slows down and derails the thesis from hitting the target. My advantage is that I won't get a lump sum. The payouts are like 1300 euros a month, and I'll be able to DCA between 2027-2029, but idk. Bitcoin could consolidate, a recession could happen, Bitcoin could enter a multi year bear market. I'm not worried that BTC won't hit my targets. I'm quite sure that BTC will hit 300k, 400k, and 600k within 10 years, but my timing could be disasterous and that's whats holding me back

ricky74vette

I borrowed 20k against my BTC. I was hoping it would rise up and I could pay it back but BTC dropped into the 60s and Coinbase liquidated almost all of it to recupe their money. C'est la vie

Romanizer

I don't know how it's in the UK, but usually victims ought to be reimbursed in legal tender by the perpetrator. BTC is rather seen as a stolen good or good bought with stolen money and therefore seized.

Optimistic-Pie123

Thank you. Your comment is very nuanced and insightful. Not just straight up good-or-bad, black-and-white perspective. Unfortunately, I don't get a lump sum that I can just invest and let it ride until mid 2030s and then cash out and pay back the loan. I'll get like 1300 Euros each month for a couple of years. Then there's also the psychological aspect. I think BTC will trade between 300k and 500k in the early 2030s but what happens if I just time everything poorly. Bitcoin could go in a multi year consolidation and a recession could be on the way. I'm not worried if BTC will hit my targets. I'm just worried when and if my timing will be disadvantageous. It is completelty legal to use the student loan for investments and whatever you want as long as it's legal in the general context. Many people in my country who live with their parents while studying actually take out the loan even if they don't need to and just put it in an idnex fund and then use it as a downpayment on a house after graduation. It's entirely legal. What do you think?

Optimistic-Pie123

But the interest is low. You need to take the other things into account. It's not like I'm getting a mortgage to buy BTC. It's a student loan with really low interest. But I understand that people still think it's irrational. Even if it makes sense economically, it could also put a toll on my mental health due to the stress. But I think the risk is pretty low. The interest is even lower than the interest in a savings account.

Optimistic-Pie123

Ja, haha. Funderar på att ta CSN lånet för att investera i BTC

RetiredAvocado

It's not free in terms of mental cycles to do everything right with hardware wallets and backups but certainly much cheaper. FBTC charges a 0.25% so on a ~12.4 BTC ($1M) holding you're charged $2500 every year rather than $250 hardware wallet every 3 or 4 years. I recommend and do buy a newer wallet from time to time, same as upgrading a phone from time to time.

Optimistic-Pie123

Will I not be able to enjoy college while I'm in this risky trade? Yeah, I mean could lead to some insomnia and chronic anxiety which prevents me from enjoying my college life because I just stare at charts. But it's Bitcoin, I'd be worried if it was altcoins or individual stocks. But I've got some faith in BTC and index funds. I see them as strong vehicles that will pull through. Time is on my side. But I appreciate the honesty. I didn't come here to just confirm my bias. I want honesty. Every opinion is welcomed. I'm genuinely looking for what's the most rational and beneficial decision.

Optimistic-Pie123

Yeah. I'm lucky to live in a country that offers free higher education, and I'm living with my parents while studying so I don't have to worry about rent and other expenditues. And also the interest on student loans are very low. It's at the highest rate right now in years and it's currently around 2%. I absolutely think BTC will outperform that and that my thesis will hold sufficently for me to make a good profit. I'm just worried that I'll get unlucky and that Bitcoin goes into a long consolidation but again, I've got time on my side. What do you think?

Ok_Knowledge_4977

When this news came out? Also notice that even with such news, the price keeps plummeting. So this should tell you BTC don’t give a f\*\*\*!!!

Optimistic-Pie123

Yeah. I'm not pressed for time. I could let it sit until 2040 if I wanted to but I'd still want to pay it back within 10 years because I don't want the debt to grow if Bitcoin goes into a long period of consolidation. But I think it's quite safe. Not safe like an index fund but I think it's worth the risk. I'm only going to buy BTC. Absolutely no shitcoins which imo is every coin besides BTC

Affolektric

My Alts are down by 90% - BTC doesn‘t fall that much. And just no - why would BTC have to be at 110k? It could be at 40k and still reach 200k next cycle

Optimistic-Pie123

I honestly think we'll never see 30k BTC again. Maybe 50k.

OnbelyVerse

Your last point is probably one of the best contributions to this thread. We totally agree with you. In our case, we receive BTC as payment for our services, so the real challenge isn't when to buy, but how much to hold and when to take profits. At the end of the day, there's little point in accumulating Bitcoin if you're forced to sell at the worst possible time just to keep the business running. Great point!

Ok_Pollution7093

Depends entirely on cash flow. I've seen people treat BTC holdings like free equity, forgetting rent is due monthly in fiat. If your margins already suck, stacking sats won't save you, it'll just delay the funeral. The businesses that'll win aren't the ones holding the most, they're the ones that can afford to never sell during a 70% drawdown.

SpaacemanK

I work on a blockchain project adjacent to BTC, and I sometimes find the need to run a node on either mainnet or testnet. There are 3 possible reasons you might want to run a BTC node yourself, the first one is block rewards and mining, but I doubt it would be profitable if you’re just running it on your own machine. 2nd reason would be to participate in the network directly and not rely on someone else’s node to broadcast your transactions, so you basically guarantee that you can’t get censored. 3rd and final reason which is most altruistic, would be to help with decentralization. If you’re interested in any of these 3 I would say go for it, the setup is not too complicated and I believe an LLM would be a huge help for this.

xiskghferx

Losing money? You don't lose money if you hold it. BTC = money.

UprightFestive

I'd be more comfortable with the business that keeps enough fiat to cover operating expenses before holding any Bitcoin long term. The one converting immediately sacrifices upside, but it also removes a major source of balance sheet volatility. Moon is where I'd keep personal speculation on BTC direction rather than treating a company's working capital as a trading position.

One_Screen1104

I'd start with understanding what the blockchain records, how wallet keys work and why Bitcoin has a limited supply before worrying about price predictions. Also learn the difference between owning BTC and getting exposure through another financial product. I use Moon for directional Bitcoin wagers but that's not the same as buying coins and controlling your own wallet.

ContributionFlat4663

The Bitcoin itself stays recorded on the blockchain, so what governments really need to secure is control over the private keys. I'd imagine the bigger concern is institutional custody procedures, offline storage and preventing one person from moving the funds. Moon gives me exposure to Bitcoin price movements through wagers but actually holding BTC involves an entirely different security problem.

bobbyv137

Sadly, the majority (not wholly) of BTC held in the ETFs and by MSTR is in the custody of Coinbase. Presumably the US gov holds a significant amount there too. Coinbase is a US publicly listed, massively regulated company. Armstrong is literally sitting at the same table as the President. If Bitcoin goes the way many hope/believe it will in the next 10-20-30 years, there is a strong chance a 6102 type surrender/seizure will take place. They will issue the then fiat denominated price of BTC (likely through stablecoins or some form of CBDC), and then revalue it.

OnbelyVerse

Fair point about volatility tolerance and runway. Those are exactly the factors we think businesses should consider. For context, Onbely Verse is a bootstrapped company with no external investors or funding rounds. We currently have approximately 12 months of operating runway, so capital allocation and treasury management are very real considerations for us. As for the disguised advertising, we're posting directly from our official business account. We're pretty transparent about who we are and what we do. We're here because we want to connect with the Bitcoin community and other business owners navigating similar decisions, not promote our services. And your point actually raises a good question: for a bootstrapped business with 12 months of runway, would you prioritize extending fiat reserves or consider retaining a small percentage of BTC earned through actual sales? Genuinely interested in your perspective.

gaugeprower

I spent 0.0325 BTC at McDonald’s, it was worth $12.00 at the time. Most expensive 10 piece nuggies meal ever. No regrets!

hungry_bra1n

I agree about BTC but feel it’s too complex and risky and poorly understood for the mainstream. I’m aware of lightning but I prefer DCA to spending BTC. I’m very far from an expert but was hoping those in the know might have more easily accessible options to experiment with.

loc710

Whatever happened to just stacking sats and having sovereign wealth? Why is everyone trying to get rich quick with options and leverage? And then when they lose it all (maybe besides OP) they blame BTC.

Archophob

>Difference is, BTC has absolutely no intrinsic value. that's not a difference. "Intrinsic value" does not exist for any asset class. Value is purely subjective.

PreferenceOk2716

If the BTC came from fraud victims’ money, returning it to them seems like the obvious goal. Proving who is entitled to what is the hard part. What would justify the government keeping it instead?

GoatMilkIsGoodForYou

I bought my first bitcoin through buying SL Linden with paysafecards, then converting them to BTC on Virwox.com. What a time to be alive

lbsta

If you sold this position BTC for 550usd you must have bought it for less than 100usd

Hugh108

My plan is to sell or start selling my BTC when I'm about 75, while my brain is still in good condition. I'm 70 now and healthy, and I'm sure I'll still be alive and healthy when I'm 75. I wrote some detailed instructions for my wife about how to access my BTC if I kick the bucket before her, but she said, "It's too difficult". These instructions are now sitting in a bank deposit box. We don't have any children. I've made a will but it doesn't cover BTC, and the lawyer who wrote the will for me was clueless about BTC.

powerguy134

I think BTC was designed to be used by everyone.

OnbelyVerse

At Onbely Verse, we think businesses should consider keeping some of the Bitcoin they earn, as long as their operating expenses are covered. There's a big difference between building BTC reserves from actual sales and borrowing money to buy Bitcoin. Sure, the price could drop. But selling every payment immediately also means missing out on potential long-term gains. We think that trade-off is worth considering, even if it won't make sense for every business.

Afraid-Location-3952

There’s obviously low risk, medium risk and high risk. Buying crypto - low to medium gamble but you need to be clued up about the bull run obviously Day trading is - HIGH GAMBLE, Might be a little more calculated then going casino and putting a number on roulette but it’s still high risk. Last year i lost $500k day trading thinking I knew it all, I made 50k in 5 minutes I remember longing BTC, I thought I was the man. Remember the easy the win, the easy the loss. I lost it all in the span of 5 months.. moral of the story is you have to understand money management. Only risk what you can afford to loose and don’t chase the dragon, hell take you to hell

_Abort_Retry_Fail

I feel the oposite, why i didn't bought more in past. BTC ofc. In my opinion we are living the last time we could buy btc bellow 100k, and still possible to stash some sats, when price rises again above 100k, it will be to expensive to buy a nice stash of sats. "Whole coiners" will be rare for normal people, buy while still possible

SuddenAd9348

Difference is, BTC has absolutely no intrinsic value. It is a wildly speculative game of musical chairs. This time next year, the value will be half again.

funboy221173

Ist mir vollkommen egal. Auf lange Sicht ist BTC das beste, was man tun kann

SeriousGains

Imagine panicking with BTC at 81k

wpu7zs9drh_ruutukf

If nobody was mining BTC one gpu would be able to take all the profit. Less miners make it easier more make it harder. 

Bilatsibagya

You got greedy and went all in. BTC dipped and you got liquidated. Risk only what you can afford to lose between your entry and stop loss.

Background_Ebb_9241

Stay away from memecoin, get a job, DCA BTC

Top-Election-5365

Just wanted to pop back in, BTC currently at 80.8K as I'm writing this, we hit 87K and are back down. This is what some people were talking about, could go lower too. we might be kissing 80k goodbye, at least for now.

anneke_degraaf_74

Could be, though a smaller percentage drawdown from a much larger market cap can still mean a huge dollar loss. Diminishing volatility wouldn't automatically make BTC a safer bet.

Feriman22

I'm not trying to nail the exact bottom here. My rule-based BTC tracker hasn't changed regime yet, so I'm just waiting. If it does, Discord will ping me anyway.

zomerbk

The key missing piece is a reconciliation of BMN notes outstanding with the mining capacity, BTC produced, and investor payouts behind them. The articles raise questions, but I couldn’t verify an independent audit or a substantive Blockstream response, so I’d treat “Ponzi” as an allegation. If the business failed, noteholders and mining customers would face the direct losses; Bitcoin would keep running, though a large drop in hash rate could temporarily slow blocks until difficulty adjusts.

papatoshi

Start stackin! BTC on sale today

Fluid_Blacksmith560

Day trading in BTC? Why?

assembly_learner

I don't think your BTC is insured.

AutoModerator

Post is by: TheDTYP and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1x6abl8/do_you_think_its_the_right_time_to_buy_more_btc/ I'm not buying the "wait for the October bottom" thing anymore. Four-year-cycle folks circle October as the low, and people on reddit keep arguing about whether there's another leg down, but I've already been buying as if it keeps going. It was chopping around 80k for a bit. ETF flows bounce around, hot CPI pushes Fed hike odds up and you get a short dump, but the spot floor near 80k is still holding. I care more about the longer stuff: post-halving rhythm, spot channels still open, buyers showing up on dips. Waiting for a perfect low is too mystical for a beginner like me. I've been DCAing a bit of spot BTC on moomoo. I also bought some BTC upside event contracts on moomoo's prediction markets, same direction, small size. Not because I was hedging doubt. I think it still goes higher and I wanted both ways of saying that. Are you still waiting on an October bottom, or are you already buying for upside? *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

Submersed

Regarding your last sentence, could an attacker who has all of your info via data breach, and who gets your password (or calls in and convinces them they are you), and sim swaps you to get access to your phone, take all your BTC? Or are there protections in place that prevent moving BTC out, such as delays, a required secondary password, some other kind of authentication?

Treesh_Jancy

The guy from the Casper Association (Michael Steuer) made the best point imo. He thinks tokenized stocks will hurt the pure speculation coins but won’t kill BTC or ETH. He also says you should figure out what you actually own before buying one, like do you get voting rights and dividends, and what happens if the provider goes under.

Interesting_Loss_907

Just checked & compared for each time frame: going back exactly 1, 2, 3, 4…..15, 16 years. For 13 out of those 16 time frames, BTC outperformed the S&P 500. The only timeframe is where the S&P 500 outperformed BTC we’re going back 1, 2 or 5 years. Going back 3, 4, 6, 7+ years BTC beat any major stock index. And going back 7+ years it not only beat any stock index, it absolutely crushed them. Gains orders of magnitude greater. Seems to me the people most reliant on cherry picking dates are the detractors.

Rock_Strongo

Something with BTCs volatility is a really shitty hedge against normal levels of inflation. It's not as extreme as it used to be, but if you put your money in BTC to avoid 5% inflation over the course of a year it might lose 10% of its value the next day.

Interesting_Loss_907

Look at the ROI for BTC for the past 4 years & let me know what you find.

Interesting_Loss_907

Now do it for the past 4 years, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16 years & let us know if you see any pattern at all…? In case you did not notice it, or in case you were illiterate & unable to read the comment above, it was in response to another users comment that over the past six years BTC has performed “incredibly poor versus other assets“. He did not say over the past one year. Even if he had, it does not change the fact that over longer term periods BTC outperformed major stock index.

SalePrestigious6605

Not trying to be whatever, but I have no idea if I am profiting from BTC, I just keep buying and have faith that will not disappoint me 😂

Interesting_Loss_907

6 years ROI (since 10/14/2020): BTC: 7.2X (appreciated in value from 11.4K to 82K in 6 years. S&P 500 Stock Index: 2.2X BTC has far outperformed any major stock market index over the past 6 years, so truly do not really know what you mean when you say that BTC has performed “ incredibly poor vs other assets”…? BTC not only outperformed stock index is during that period of time but obviously outperformed holding cash in any normal interest bearing accounts as well.

King-esckay

I have done this via nexo Twice so far It depends on where you were at when you first bought I have done 2 loans despite the high interest I buy the interest charge in btc each month when the gain comes the interest only has paid off the loan I plan to do the same with the mortgage once the ratios work. You can buy a lot of BTC with no mortgage to pay. If it all goes belly up then the BTC will get sold I still have the assets purchased with the loan. Each time so far I have borrowed when BTC has been near bottoms.

sabrina-m-779

That works out to about $84.6k per BTC on average, assuming the $280m is the purchase price.

JGdc12

Originally? It was built as a faster, more efficient version of bitcoin, using a fork in the BTC code. Today? Absolutely no point, the big money moved on long ago

JGdc12

Originally? It was built as a faster, more efficient version of bitcoin, using a fork in the BTC code. Today? Absolutely no point, the big money moved on long ago

tscottn

lol at BTC current price it would hardly buy you a new truck, let alone a new life.. come-on man be serious

CatatonicMan

How about *Ledger* fund-raise some BTC for the victims. It was their fuck up, after all.

rickribera93

When BTC fees were too high, I used Litecoin. But this was before the time of ethereum tech.

2xfun

Bitcoin has all the fundamental properties to be a hedge agains inflation. But: \- It's still a young asset. \- It's market cap is still low. \- People still see it as a risky asset. \- Retail is full of instant gratification gamblers trying to time the market. \- The shitcoin storm of 2008 took a hit on BTCs reputation and the majority of the people can't tell the difference between ClownCoin and BTC. \- The average Joe e clueless about bitcoin and how the FIAT standard works. \- Idiocracy is taking over and critical thinking is dead.

Saintgein

Inflation goes up by 0.1% so chance on a rate hike of 0.25% goes up by 25%. This is the whole cry baby madness going on right now. Imagine a year or something ago, we had inflation going down a little, then getting a few rate cuts of 0.25%. And what happened? Barely anything. Just like now. BTC goes down because of liquidations, but tomorrow it will be game on as always, with these hikes already priced in. So i don't worry.

youcangotohellgoto

1 BTC far exceeds the average wealth of a human on the planet is an absolutely enough to "get started".

fittes7

Cause one is ownership and the other is rent I get it when people are renting houses cause they don't want to pay the full house price But renting BTC when you can have your own for the exact same price is dumb

RetiredAvocado

If it can't connect to anything it can't send bitcoin. Because my phone is connected to a lot of my life stuff on it I trust it, to a point. There are a couple wallets with some BTC. If that little amount of BTC disappears I won't go hungry, and it's a small price to pay to know the phone can no longer be trusted. Hardware wallets are still generally more secure than phone apps though.

Azreel777

Well I should start by saying I don't put anything in to BTC that I'm not willing to lose. It's an alternative savings method for me, much like money that gets put into retirement accounts. I don't spend it. I will if I need to, but my plan is to let it sit so maybe my kids get it someday.

usedmattress85

I mean to use an ETF to hold your BTC. Because you can hold a BTC ETF inside of a Tax Free Savings Account (TFSA) which makes all the Cap gains completely tax free. You can’t hold self-custody BTC inside a TFSA. So if you’re a Canadian and you have room in your TFSA, it’s crazy to me to hold BTC any other way other than an ETF

bananabastard

Self-custody is the benefit. You are the sole proprietor of your shit. I can access and move my BTC to anyone any time I wnat without permission from anyone.

Big80sweens

Bitcoin would be incredibly valuable in the event WW3 happens for this exact reason. In fact the price of BTC likely skyrockets in this event

oxxoMind

Why not ASST or MSTR ? If BTC goes up these 2 goes up as well

No-Librarian9605

I’ve been in the space for over a decade and I’m actually way less bullish than I have ever been. Predominately due to the concentration of big mining pools. Foundry and Antpool have way too much control and it may only get worse/centralized as BTC goes more mainstream. I hope I’m wrong as I view this as one of the safe havens from a fiat system collapse.

TheresNoSecondBest

Exactly 6.15 BTC for eternal riches and big titty bitches.

Upn8th

OP. Thanks for your reply! On a $BTC chart I made,bloke you, I have the same #, 37.4k, as the possible low but with no date attached to it. Have we since had an apparent break with the prior 4-year pattern? Yes, but it's still useful to know in case price gets there some other way, like in 2020 for instance.  Then, rather than clamoring around for where this falling knife may land, 37.4k if reached, would be recognizable as possibly meaningful. If instead, the pattern break (lack of a leg down beyond 58k, and instead a break above the down line from the 128k-ish ath. is where things changed) stays intact, the rest of it, so far, too, is intact.  With that said, if a decline does ensue, I have 70k in mind as a possible st target/support, and if so, which would still be within the continuation of the pattern as is currently taking place. Sorry that's  a lot of explanation and I should just post the chart, and think I will.  Thanks.

Porcellanidae

6.15 BTC ?

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tscottn

I agree to a extent, we are still very early to the game, and only if you have enough BTC to start a new life and leave everything else behind does this senerio work. But if you own one or two coins or less that probably isnt a realistic option. Its easy to say do this or that, but half the people that say these things have no idea what it really entails and how hard it is to actually acomplish.

Good_Extension_9642

That's what everyone thinks, fortunately BTC always does what no one expects, my gut tells me we'll be above 90k by November, and I have a big gut :)

ellipticbadger

The story of this guy is more interesting than just that he was a scammer... He was a sort of self-aware, showman scammer who actually knew a fair amount about the domain. I'm not defending his actions - Hex was always clearly a ponzi scheme, but it was such an up-front and obvious ponzi scheme that it almost makes it hard to believe that anyone was involved who wasn't sort of playing along, like a game. Yes, he would do the "I'm so rich, look at my stuff, look at how crazy I dress" bits on his videos, but he would simultaneously mock that and narrate why he was doing it (to get views)... which made it kind of funny. And he would drop a fair amount of knowledge about the history of Ethereum and BTC while he rationalized how what he was doing was not illegal... Again, really not defending him - probably broke some laws (IANAL) but just for the history books - I am not the kind of person who follows crazy influencer scammers (nor would I have ever put money in Hex) but I did watch a lot of his videos and they were kind of fascinating :)

genius_retard

Yeah I would reserve mutisig multi vendor for my main stack and would not make transactions from that account very often. Even then it would just be to send some BTC to my spending wallet but yes I would need to be extra careful.

Dangerous_Reading665

He sold it everything for BTC

SimpleMoonFarmer

MSTR and many other stocks are dropping while BTC is just chilling. What's going on?

6DeliciousInches

BTC on chain is immutable immortal internet money and BTC etc is a price exposure instrument. The OG bitcoin purpose is that it’s money saved in your mind, IBIT is not in your mind it’s in a brokerage. Otherwise they are the same (minus fees on the etf)

VastJuice2949

I have a card with GoMining. Use it daily and it feels exactly the same as a bank card when I tap with my phone. Actually spending BTC and USDC feels good

jojorabbit11

I’ve talked to a lot of Bitcoin holders dealing with this exact problem, and there are a couple different ways people approach it. If you’re still looking for an estate attorney who actually understands Bitcoin, Ed Vergara is worth looking up. He did a session with us specifically on Bitcoin estate planning that I can share. The other option that almost never comes up in these conversations is Bitcoin life insurance. I work at Meanwhile, where the policy, cash value and death benefit are all denominated in BTC. So for the portion of your bitcoin that you ultimately want to leave to your family, the beneficiary can receive Bitcoin rather than having to figure out how to recover your seed. It can also work alongside a trust rather than replacing one. Happy to answer questions if useful.

awohio1

I was going to say that funds held at brokerage firms are protected by SIPC insurance... That is true for registered securities like stocks, bonds, mutual funds, etc. But NOT for crypto. (Note SIPC insurance is not insurance against trading losses or loss in value of assets, only against losses by the the brokerage). I'd still say that Fidelity is way more capable of protecting coins than your typical BTC owner. There is also much better legal recourse in the event of a failure in their practices.

jorgerp86

I trust fidelity with my BTC

throwaway12three4

I moved all my coins to a Fidelity joint account for this reason. If something happens to me, my wife wont have to jump through hoops to figure out BTC.

MittenSplits

Dynamic = timing the market (which is what all of your questions revolve around) BTC makes all of its gains on the best 10 days of the year, and you'll never time them. Unless you're really interested in charting (and have a Bloomberg terminal), just do an actual DCA and hold it.

jasonslpt

Whatever the Fed does next, the CPI reaction so far looks like a long squeeze waiting to happen. Positioning near 82.0K: longs ~81.7K (~$144M), bigger stack ~80.2K (~$475M), shorts ~82.2K (~$155M). Leaning lower toward 80.2K. Proven wrong if BTC reclaims and holds 82.2K. The 100x hike-is-priced-in crowd is standing on a trapdoor. Not advice.

jasonslpt

For me it's when the long liquidation pools below get cleared, not when price bounces. Right now BTC is about 82.0K with ~$475M of longs stacked near 80.2K that haven't been flushed yet. Until that gets tagged or price holds above 82.2K, a bounce is just leverage reloading. A recovery I trust usually starts after the paycheck-sized 25x longs are gone. Not advice.

jasonslpt

Post-CPI map for BTC near 82.0K: the closest long pool sits around 81.7K (~$144M), and the real magnet is 80.2K (~$475M). About 75% of the last 24h of liqs were longs, so the crowd is still leaning the wrong way. I lean down into 80.2K first. Wrong if BTC holds above 82.2K, where ~$155M of shorts would get squeezed instead. Somebody's 50x rent money is parked right at 81.7K. Not advice.

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Post is by: WorstBGsystem and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1x5w7gv/cryptocom_scamm/ Anyone else experienced this: Price of BTC in there app on the chart 78k €, I sold and I was given price 73k€. 20 days later bitcoin fell down 5%, price on chart 74k€ I buy back for same money I sold earlier and I get much lower btc position… you sell high and they give you low sell rate. Scammers. Stay away !!!! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

Vipu2

Security is about 50-50 depending how skills you are handling BTC and all its technicalities. But freedom to transact is 100% on self storages side. You could live in Russia or whatever other country and suddenly you dont have access to your ETF anymore for reason X or Y. When you want to do something with your "stack" of ETF BTC you will be asked many questions and take long time to do it. Want to buy something without your ID:s attached to it like VPN? Cant do that with ETF BTC

rodzm14

Best of luck and much prosperity with your 1 oz copper BTC. Not sure what youre trying to convey here but this is worth the price of 1 pz copper

izkornator

I feel for you. Proper self custody almost requires you to have a certain amount of IT knowledge yourself or by proxy with a very trusted party (son, relative, ...) A badly set up self custody solution is perhaps worse from a custody point of view than owning ETF shares in your stock account. This much I am prepared to admit. The Bitcoin ETFs are mildly poisonous to the overall ethos of Bitcoin though. Not personal security of custody but the overall network. I would not be so sure that Blackrock or Fidelity have any consideration for the best interests of the Bitcoin network in their operational strategies. I have often wondered if Blackrock (for e.g.) is really selling BTC into the market when there is a drawdown on the ETF shares. They are in a perfect place to snag BTC on the discount side of the market each time, and sell it back to ETF share buyers when demand returns. Not exactly moral behaviour IMHO but if I were them and discounted all my morals, I would do the same, or even hold onto them to co-opt the whole network gradually.

iz_raymond

Very good question. You will find out real quick why BTC will never replace Fiat bcos the community itself will treat it as form of payment