BTC

TieResident989

I am no bot, i don't really comment or post but I do have .06 BTC, I know it's not a lot but I keep buying every single time.

a_trashcan

It doesn't matter how many do, because all can. All can not with BTC or other cryptos. Again, I can't pay with crypto at all at the deli closest to me and the ones that I can would require an intermediary. >Again the bitcoin network does not need the traditional banking infrastructure to function IS the point And my point is fiat money doesn't either. We created them to make our transactions more convenient. The same would be true of any crypto and is the currently the reality for them. Nigeria has had record inflation since crypto adoption. You are the one struggling with it.

Apprehensive_Ad5398

Everything is different this time and I think we’re in uncharted territory. With the institutional/etf involvement and even nation state uptake creating strategic reserves, I think the old four year pattern around halvening might be dead. I believe what we’re seeing now is manipulation. I think this is the best challenge to solve - either with tech or regulation, but regulation goes against a big part of the core value of BTC and I have no idea if self regulating with tech is even possible. On the flip side - I don’t feel the same worry of BTC going of zero. It would be really difficult for the big corpos to get out of BTC without shooting themselves in the foot.

stochGradientDescent

I’m note she we have observed a real bull market last year in alt markets. Yes, BTC did increased significantly but it did not make a similar impact in alt coins in terms of market caps.

ThePugz

It hit $60K already today. Had a limit buy of 0.02 BTC @ $60K & it was executed.

TapThatYak

I have also been through this 3 times, like many others here. The doom and gloom is a scam. Media is overspeculating making people panic and further the crash. Meanwhile the weekly and month RSI is as low as when the FTX event when BTC went down to 17k in the next few months. Generational buying opportunity starts now and if people dont scoop it up fast maybe it will last a few months into the spring, summer would be a stretch.

lillyofthedesert

That feels like comparing apples and oranges though. Stablecoins sound like they would compete with other coins like xrp, but BTC is horrid at actual transfers of money. It's slow and expensive. Bitcoin seems more about perceived store of value at this point. Not about transactional utility. Right? I see how those stable coins would complete with other coins. But I'm still not seeing how they would compete with bitcoin's perceived value store over the long-term. Stablecoins won't account for inflation, not is it finite. Am I still missing something? I'm seriously asking. And not trying to dis anything, just trying to understand. It's so overwhelming to understand so much. And I trust the opinions of those actually in the industry working with this new era.

Necessary-Nature-380

DCA? That way you get cheap BTC whilst not losing any gains on your original bag if it does pump...

Effective_Key5276

So far, Bitcoin spikes have been driven by speculation. There is however a utility argument for Bitcoin, so its value is not 0. The trend that's forming thus far is that the bottoms have been gradually increasing, with volatile spikes driven by speculation. BTC survives if, eventually, its volatility is driven by flight to safety rather than speculative greed as it is now.

CutFabulous1178

You’d think it’s the last drop, then BTC will drop You’d think that’s enough, then BTC will drop You think this rally would’ve sustained, then BTC will drop You’d lose hope, then BTC will drop FUD will be strong, then BTC will drop Until it doesn’t. Wheels keep turning, cycle keeps repeating

i_have_chosen_a_name

It will boucne back somehow, but then you have your last chance to sell. Once MSTR is forced to start selling BTC, it's going to be over forever. Some other crypto will eventually find global adoption, it just won't be Bitcoin.

HOS-SKA

It's an important lesson to not overleverage yourself. I have a ton in BTC, but it was done piecemeal over years. If I lose everything - yes, it sucks, but bills will be paid, I will eat, and I will continue to do normal shit. It's an annoyance when people come in expecting *fast cash* \- the investment is not in BTC, it's using BTC to get more fiat cash. I get it - it looks good when it's going up like that. But, at some point, after many cycles and seeing *the same shit* every time, you have to excuse folks for taking this approach.

mjs1050

Why didn't you send BTC?

InvoluntaryEraser

Literally DCA. If it DOES go somewhere as low as $30k, buy as much as you can safely afford. It's been proven time and time again that if you simply DCA consistently, while not "guaranteed", there's an extremely high chance that you will be in profit over time. Speaking from experience as someone with a BTC average around $40k.

Fit_Employment_2595

BTC was 16k in 2023. Calling 30k to 40k bottom insane, is insane.

Dapper_Addition_3837

Yep, BTC went through -70,-80,-90% drops in the past. If you are mentally weak then you won't be a billionaires like a lot of BTC billionaires.

knaks74

Officially in the red with everything but BTC and ETH. I got in to hold till around 2030, I do take profits and re-invest. It’s been worse, not too much blood in the water yet.

sub7m19

What's going on is that the market seen what happened commodities like silver and gold. If they can nuke gold and silver, BTC has no chance. Sad reality.

devCheckingIn

Not going to happen. They addressed this in their earnings call today. BTC would have to drop down to $8k and hold for them to even begin to entertain a restructuring plan. And if BTC gets down to $8k, would them selling even matter at that point?

BidenDaPedo

Just sold all my BTC at 60k. I couldn’t just sit and watch my bags lose 80% again.

SMOL_BLUE

On the other hand If you had sent BTC, you would have lost $150 just on the price change.

Weird_Grapefruit_469

Epstein funded BTC

Sagitario_Aestrella

El valor de BTC es cero. Cuando fue creado lo promocionaban como un activo que libre de gobiernos y bancos centrales; que no te lo podian "embargar". Nada de eso hoy en dia ya no es asi

Abject-Stretch-1187

How many people actually use physical cash to pay for things in the first world? Most people pay with cards. The intermediaries point with fiat is simply that when you do want to not use them, you can’t and as a matter of fact they’re doing their best to eliminate physical cash.  Again the bitcoin network does not need the traditional banking infrastructure to function IS the point. You deal with that. You can cry about how your deli doesn’t take bitcoin but that is specific to just you because I live in Nigeria and we use BTC here all the time as savings tool and a transactional tool. Not my problem you’re struggling with it.

Any-Inspection-8459

Did the same thing. Got into BTC when it was around 110k and just sold yesterday. Planning to get back into it around 50k to try to maximize sats and bring average cost way down. My average cost was at 109k yesterday

Effective_Key5276

It's psychologically driven, the Trump bump for BTC in 2024 was driven by speculation and many participants are selling. There will be selling until there are no more sellers.

Necessary-Nature-380

That's a daft comment. BTC will never hit $1000 again. That's $21billion to own all of bitcoin.... even Saylor can afford to do that on his own....

qthistory

I expect the pattern to continue in terms of diminishing growth. My guess is the current downcycle bottoms around $30k-32k for roughly -75%. Next high around $150k for a 5x. Following low around $40k Following high around $160k for a 4x. Starting to doubt we ever get to $200k per BTC.

in_sufficient_8in

You only lose selling in the red BTC was never for you Paper handy

zampe

why is your cost basis calculated by the cost of 4.5 btc but your profit calculated by 4.75 btc? Did you get .25 BTC for free? cost basis **167k** 62k current price is **295,500** minus 17k interest leaves **277,500** so your **current profit is 66%** with an **annualized return of 13.5%**. Not bad but not enough for the risk involved.

IntelligentTank355

Why not split the amount? I don't own either, but I think BTC has a higher chance of profit when the markets rebound. I would buy right now by the way. Wait for the price to stabilize. You don't want to watch your investment going down for weeks, and catching the very bottom is almost impossible.

Idlisamosadosa

Current cost is $85K to mine per BTC - miners will starts dumping too

Strict_Telephone8973

Also if we take into account the reputation damage to the BTC brand.. well things don’t look good

duboilburner

I mean, if you bought in Nov-Dec 2022, could have easily loaded up at $16k. Then sold in October this year, there was greater than 10x gains in 3 years. What did QQQ do in that same time? We're talking max potential gains of 145% vs more than 600% in BTC in the same timeframe...

brkinard

Just for some perspective...BTC dropped further (% wise) and faster in April-May 2021.

RollCannabis

We sold because we wanted to raise capital to start a new project, and banks would not lend us $ because our business “touched” the plant (cannabis) We were offered private equity $ but at a steep rate. So we concluded that liquidating (selling) the dispo and taking BTC from our buyer would yield us more than what we could have sold for in the open market. This was the case for a Cpl of months after (we felt like we had found a money $ glitch) We got a loan at 80% LTV pledging out BTC when it was at about 107k

ocean_man9999

listen, I try to avoid commenting here, but here we go anyway. In a casino, some gamblers wins big, some do okey, some lose their monthly paycheck and some lose their life savings. Same thing applies to Bitcoin and crypto as a whole. Bitcoin is not going to 0 ofc it will rebound again and if life is good we might see 120K or 150K max but that is it for now. wait for BTC to consolidate before going in again, if timed right you can make good money, while retards lose their life savings gambling with leverage.

forestcall

I got a crap ton of BTC in 2009 and have become so comfortable with the swings that I stop paying attention. The real concern is taxes.

mrestiaux

Ideally you just set a time interval where you buy every “x”. A lot of people here love to pretend they’re professional traders that can time every part of the market. It’s better to just play that game. Maybe not better but definitely less stressful. I buy a small amount daily, get interest paid out in BTC, round up purchases to the next dollar, and get cash back using my Shakepay card. Put all that together and you have a beautiful long term outlook. I will start buying even more aggressively when I THINK we’re close to a floor. However, I don’t know for sure where that floor will be, so I won’t ever stop buying.

Rare_Ad_55

Since supply is fixed, only demand will affect the “cycle”. BTC’s volatility and lack of underlying assets will dissuade future buyers.

mattfox27

Ha, that's what happened to me,.took out a loan, used BTC as collateral and got liquidated today. Thank god it was not a huge amount but still sucked.

devCheckingIn

Memecoins getting destroyed in the past half-hour. In my experience that usually means BTC follows.

solrac79_1

messi's a legend. would you have him in your club now? i don't think so. there's an expiration date for everyone and everything. I'm still invested in BTC, just not delusional about it's worth. It's ideological, it's outdated and it's still (legacy) revolutionary and that fact alone beats all the newer and more sophisticated coins.

PM_NICE_TOES-notmen

Already bought a bit today. Likely be more if it keeps going. Do I think btc has a use case? No. Do I think BTC is destined to keep going up long term? Yes

SeaworthinessSad7300

try other subreddits. More balanced and able to criticise and provide counter points of view. I am very heavy in BTC

CYOP4567

A big part of what we’re seeing right now is ETF behavior interacting with fear. Money flowed into Bitcoin through ETFs, which meant those ETFs were steadily buying BTC. As sentiment shifted and people got nervous, that money started flowing out, removing a major source of demand and, in some cases, adding selling pressure. When you combine that with easily spooked holders and leveraged traders, the price drop looks sharper than the underlying situation really is.

Agreeable_Wall5909

Just bought two BTC, still playing the 5-10 year game.

OnlyGaiModsBanMe

BTC for $5

Adept-Knowledge3710

The music finally stopped for BTC and everyone is realizing they're holding a digital pet rock with no actual use case

Abject-Stretch-1187

Can you stop lying to yourself thinking visa, banks and fed wire aren’t required to transact in fiat land. Who said intermediaries are only inate to fiat? You asked me a question regarding fiat land and intermediaries and I gave you a factual answer and you didn’t like it, that’s your problem not mine. You don’t need intermediaries to transact on BTC but you do in fiat world. Deal with it. 

shibaconllc

I’m selling my bike, watches, and extras to buy more BTC.

crazy_lolipopp

BTC -6% in 1 hour 💀

Medical-Molasses615

Like this guy, a large number of people are selling their BTC. You seem confused.

Bronk33

I think the way to look at it is like this: An Earth that was ok with BTC (whatever its merits) going to 120 is not all of a sudden going to forget it. All one has to do is turn off the tv, turn off the radio, and wait until that moment when a friend tells you that the market has switch to FOMO mode. I mean, seriously.

theincognito66

he has said that BTC could crash to 20k and they wouldn't have to sell any of their holdings. The company is not insolvent and will continue to operate regardless of the price of BTC through the next fiscal year. It's next year if the market doesn’t recover at all, and BTC is back to the previous cycle low of 16k... then there will be problems...

Juice79man

Seems like I was yesterday I was complaining about the same thing. This noob told me it would never hit 60k and would never even break 100k. The problem is most of this Reddit it new investors that haven’t actually experienced a BTC bear after being around for the top. Every single person was telling me the cycles were over. All of us who have been here knew better. I sold at 115k in October and I’m loooing pretty good to buy back in a a massive gain. All the losers that told me I was an idiot. No…. You are

Bronk33

He who dies with the most BTC wins.

Reasonable_Band1536

Only loss if you sell as I have learned. I do believe BTC rewards discipline, but it takes a lot along the way.

xG8q_P7l9zR0

They have no scheduled principal payment until 2028, and the big 0% bonds are due 2031 and 2032, so they won't go bankrupt until a few years if BTC stays lower than their average price.

Strict_Telephone8973

This is different, now BTC hasn’t limited supply, scarcity disappeared, so now BTC literally hasn’t anything that supports its value, it is only an speculative asset, sorry guys but the dream is over

Rydog_78

I’ve heard an expert who follows BTC say that the price to produce a bitcoin is around 75-80k so these are pretty discounted BTC if this dude is correct and you can pick up some pretty undervalued sats.

ImaginaryDust

50k in sight BTC, crazy how it is a pump and dump

Fearless_Here579

Im so sorry to hear this. Really crazy whats going on with BTC

FrontLifeguard1962

I've never owned any BTC I'm going to buy some in my Roth IRA once it seems to bottom out, then hang onto it for 20 years

GreenStretch

Yes, always this kind of doom and gloom. February 4, 2018 BTC $8,277.01, down from almost $20k [https://coinmarketcap.com/historical/20180204/](https://coinmarketcap.com/historical/20180204/) February 6, 2022 BTC $42,412.43 down from say $69,420. [https://coinmarketcap.com/historical/20220206/](https://coinmarketcap.com/historical/20220206/) Time to DCA for the next cycle.

CoatPuzzleheaded1413

And what fundamentals would those be other than “the fiat empire is crumbling”? BTC use cases? BTC proving itself as a store of value? Not seeing fundamentals.

Ok-Sympathy9768

Diamond hands is all fine and good… but there are many that take strategic profits, even the whales.. having an understanding past experience, based on past cycles, and knowing there is a high probability BTC is heading into a downturn/winter/bear market part of the cycle and still not taking profits is a choice everyone has to make for themselves, and usually based on time horizon, and number of bitcoins one holds or has exposure too..

Stray14

2nd leg in action, we’re only just getting going. We haven’t seen any form of cascade at all. S&P hasn’t moved and wowww does it look like it’s about to roll over, layoffs, AI bubble, trade uncertainty international tensions interest rates, Mag 7 etc etc. I called 32k, that looks like a given at this point. We could well duck right below that. No jokes if the timing of the S&P downturn coincides with with 3rd downwards leg of BTC we could test the lows of FTX 15k region. Wow that would be epic.

hawkeye224

Yeah, but the funny thing is that if they "intervene" in fiat based investments instead, BTC will benefit

Acceptable_Can3285

can you share a bit on BTC backed loan? Not many options in Canada. How fast is the cash disbursement and at what rate if you don't mind me asking?

dubski04021

….does buying a smaller portion make you feel better? Owning sats is no different than BTC.

Intrepid-Tennis93

Half my account is in BTC with an average cost of $100,000… I'm definitely holding😂

NiceDemon-82

exactly :) you guys shill for BTC way to much on this subreddit...

Fear_Blind83

The value of the holdings attributed to Satoshi fell by $40Bn but that's because the price of BTC fell. I don't see any outflows... https://intel.arkm.com/explorer/entity/satoshi-nakamoto

Ill_Association8325

My honda 2003 will still commute me from A to B. It’s not a method to generate wealth. With Crypto, Some people have LOST all💔. I find BTC “normal” cause I’ve been at it for a while. But to others, I reckon it sounds cliche & unreliable. To optimize your outcome, It’s good to avoid the hype before putting your money. Learn just enough.

NiceDemon-82

I am not saying that you are lying, but it seems to me extremely unlikely... e.g. a friend ago, no skin in the crypto game, told me that he believes that BTC will reach 1 million (lol) and he is planning to buy; I've asked him today and he said NO WAY :D

lookatmyiq

I'm longing BTC with margin for the first time in years so expect it to go way lower and for me to get rekt 🤣

cl3ft

When the credit card companies banned donations to wikileaks after their [Collateral Murder](https://www.youtube.com/watch?v=5rXPrfnU3G0) was released (watch it), I donated Bitcoin to them. I bought coffee with Bitcoin every morning in 2012. In 2020 I bought an anonymous phone number with Bitcoin. I also spent over 1000BTC on the silk road from 2011 to 2015. No regrets, I was part of the proof of concept. It was our use of it that proved it worked. It wouldn't be what it is today if we hadn't used it.

Reasonable_Leg_4664

Right? I hope OP has 20-30 BTC with the way they’re talking. Only holding single digits BTC is still a gamble to retire on someday. I hope it happens, but it’s not that much money.

comogrizz

Why should the government save the "slide"? BTC is a speculative bet made by individuals who hope someone will pay more for the "asset" than what they did. It's unregulated and outside of the banking system. Let it fall if it falls...

Little-Teacher9014

DCAing 1 BTC per week. Fucking legend.

solrac79_1

hell no.. this reddit confirms it. there's still enough people willing to try to get rich quickly to keep the price high. I still have a substantial amount invested in BTC (an amount that doesn't matter to me anymore - thanks to BTC actually). I look at.. everything. Bitcoin has failed to deliver on its main purpose and the purpose its acolytes found for it afterwards. I'd say it's a 50/50 gamble. hype vs reality. you pick your color.. black or red.

BainTrain55

It’s funny how people were saying “I’ll def buy BTC in the low 60’s come September or October” then 12 hours later we’re already there.

courtesy_patroll

That's a pretty small timeframe.... Feb 2016 (BTC **$386.55**) today  (BTC about **63k**), Bitcoin rose roughly **160x** in dollars, while holding dollars over the same span lost about **\~27%** of purchasing power.

angelwolf71885

To save the slide but they can’t do anything because they don’t control the interest rate of BTC nor the supply of BTC so they can’t do Anything to begin with because that requires code changes that nodes would have to adopt and they won’t

littleboy0k

They have excess free electricity in winter which they use for BTC mining. So, the only expense is the mining rigs.

BlackDog990

>It’s not worth anything intrinsically Neither is USD. And I don't say this as a BTC shill. USD has no "intrinsic" value. It's worth something because lots of people think it's worth something. That's it. It's no more complicated than that.

Trade_Winds_88

Lol. BTC volatility is so high. Agreed. But I'll still buy some BTC. 

theincognito66

You have to convert all of your assets to BTC and then send them all to a Satoshi wallet as tribute

Fit_Employment_2595

They not only fuck up trading and timing, they fuck up allowing crypto to be used widespread. Who wants to buy milk with BTC when you'd be taxed an additional 25 percent on it.

Substantial_Two_8615

For current BTC holders? Take a breather and don't compromise your financial stability. Diversify your portfolio. I don't think that BTC has real long term value. I think crypto will exist in some form, but not like moonshot hodlrs are expecting. That being said, BTC could reach $1mil or $0.01 in the coming years. Long term, closer to $0.01. That's my opinion, which isn't popular here.

cl3ft

I spent ~1000BTC on the Silk Road and other darknet markets between 2011 and 2015. I gave some to Wikileaks when the credit card companies banned donations. I bought coffee with it every morning for a year in 2012. I bought an anonymous phone number with it in 2020. No regrets, I was part of the proof the whole system works.

Neither-Payment-4147

Great story but not plausible, do you know how difficult it would be to open an account and start funnelling hundreds of millions or billions through it, practically impossible. And even if you were smart enough to locate keys and obtain the BTC then would you start dumping it on the market which is what is happening now, these market sell offs now aren’t one, a couple, or a few big sells, they are continuous sells.

AKBonesaw

Retail largely exited in the early 2020s and didn’t come back as the get quick herd switched to Robinhood, memes, nfts, more memes, prediction markets… so speculators and fairweather crypto fans. Many of the OGs have cashed out and those consolidated tokens were distributed at ATH. I My belief is that it explodes as institutions take over. Or surges when exchanges run out of tokens to trade. The latest fud will come and go and BTC will still yet prove itself. Either way, supply is getting eaten up and remember, someone buys every one of those bitcoin that are sold...

Routine-Variety-253

Time in the market beats timing the market. Are you chasing short term gains? If so dont buy. If you think BTC has a underlying value, and long term growth potential then keep holding. Having a long term view doesnt mean you cant sell and take profits if you think there is a pattern.

Commander_Bond_

Even gold already fell 50% at some point so 50% drop on BTC is a walk in the park

helluvatrader

No one can even explain why BTC dumped 50% in 3 months let alone where the bottom will be. DCA > market timing

woodyarmadillo11

“WE ARE SO BACK.” Lol. I am almost certain that Bitcoin will make its way back to a new ATH long term, but to say “We are so back” after you’ve dropped 30% in less than in a month is wild. This is the kind of shit that turns people away from BTC.

Junior-Guitar-3058

Bitcoin's daily Relative Strength Index (RSI), which is a popularly used momentum oscillator that assesses whether an asset is oversold or overbought, flashed 17.6 (on a scale of 0-100) on Thursday — heavily oversold conditions that were topped in the modern BTC era by the Covid crash in 2020, when it fell to 15.6, and the 2018 market bottom, when it dropped to 9.5.

nestiebein

Take a BTC based loan and buy more. It's too cheap rn. I'm buying each leg down.