Deluxe said:

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I've been investing in crypto for a few years and here's a few of the precautions I take:

1) Keep your coins on exchanges to the greatest extent possible. The exchanges are protected by security and the internet, whereas you could lose a hardware wallet.

2) If you must get a hardware wallet, steer clear of the Trezor/Ledger types. There's plenty of discount wallets available to save you $10-15.

3) Your seed key isn't THAT important. Just jot it down and file it away. Assume you'll be able to find it quickly if you ever need it.

/hope the sarcasm was obvious ;-)

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... I was about to rip this to shreds thanks for the /s

Any reason why I shouldn't go all in on BTC?

Just seems like a better idea than having all my money in an index fund.

Of course it's volatile, but it seems like there's too much steam behind it now to assume it's going to just not work.

(This would be a long-term play.)

I'm thinking about it too. Not many other investment options look appealing.

Agreed. Sure it'll drop. But if I dump everything in now, you gotta think in the long term it will go up more than an index fund would.

mrmill3218 said:

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Agreed. Sure it'll drop. But if I dump everything in now, you gotta think in the long term it will go up more than an index fund would.

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I don't think so. I am pretty well invested in index funds. I consider crypto the risky part of my portfolio.

Yeah I guess that's a good point. I can just up the amount I'm dollar cost averaging right now.

Take a hard look at your end goal. How diversified you are, how old you are, lots of factors should be completely explored. Don't become someone else's burden because you YOLO'd without any basic best practices to fall back on. Before you leap, look and prepare for the fall.

There's a reason I'm DCA'ing, at $4k I almost threw everytbing at btc in 2020. Sigh.

Don't you wish you would have thrown everything in at $4k?!

Anybody else having some fun with Luna Terra last few days?!? Insane gains. Too the moon!

administrative errors said:

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I wish I would've continued downloading the blockchain and begun mining in 2010 instead of canceling and playing brood wars.

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I was literally on campus in college playing brood wars in 2010. And counterstrike. I probably would still have only owned 0.1 BTC.

This is why you don't need to trade:

Quote:

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In June 2016, the market valuation of all cryptocurrencies in existence was $10,500,000,000 or $10.5 billion.

Today, the market valuation of all cryptocurrencies in existence is $1,970,953,948,288 or $1.97 trillion.

That's an increase of approximately 18,670.98998369524% in value in five years and two months on the dot.

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and this is 100% why you don't pay people to do this for you.

SOL

Yup. I posted here last week trying to bring SOL to people's attention. I still think it has room to grow, but I am going to wait for a retracement to buy more coins.

Alright....last call before Wednesday.

Best I can do to update:

- Below is new white paper/use case
- New lithtoken.io site goes live tonight
- Official WallstreetBets Instagram push starts Wednesday (3 days) - 300k+ followers
- Possibly one other big marketing partner as well

If the message of LITHs validity and potential gets through to just 1% of WSB followers its a BIG DEAL.

I know, I know the feedback from some of you, but I'll answer what I can if you have other questions.

Sorry white paper shows back to front

I would just like to point out that bitcoin is up almost 50% back from where it was mid July.

I'd like to point out how oddly that correlates with ****coins rising.

New LITH website is live and is a major improvement. Used same team that created Ensorcia's site.

Lithtoken.io

AggieKatie2 said:

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Alright....last call before Wednesday.

Best I can do to update:

- Below is new white paper/use case
- New lithtoken.io site goes live tonight
- Official WallstreetBets Instagram push starts Wednesday (3 days) - 300k+ followers
- Possibly one other big marketing partner as well

If the message of LITHs validity and potential gets through to just 1% of WSB followers its a BIG DEAL.

I know, I know the feedback from some of you, but I'll answer what I can if you have other questions.

Sorry white paper shows back to front

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Nm

This seems like an Ethereum grab to me.
I would buy some LITH if I could just buy it straightaway with cash.

CrottyKid said:

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This seems like an Ethereum grab to me.
I would buy some LITH if I could just buy it straightaway with cash.

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Yeah buying can be a pain in the ass. I don't know of they will get to a point for direct USD to LITH purchase, but I know they are working on the ability to purchase directly through exchanges. The 5% redistribution is not supported by most of the major exchanges, so at some point that will probably go away to allow for major exchange access.

mrmill3218 said:

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Any reason why I shouldn't go all in on BTC?

Just seems like a better idea than having all my money in an index fund.

Of course it's volatile, but it seems like there's too much steam behind it now to assume it's going to just not work.

(This would be a long-term play.)

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How long can you hold for?

1 BTC will be worth $5MM within about 15-20 years...and that's conservative by many people's estimates.

LihaiAg06 said:

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mrmill3218 said:

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Any reason why I shouldn't go all in on BTC?

Just seems like a better idea than having all my money in an index fund.

Of course it's volatile, but it seems like there's too much steam behind it now to assume it's going to just not work.

(This would be a long-term play.)

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How long can you hold for?

1 BTC will be worth $5MM within about 15-20 years...and that's conservative by many people's estimates.

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I mean anything can happen. But I would plan on holding for a long period of time, like an index fund.

Tax question....if I invest $100, investment goes to $1000, I remove $100 representing my original investment and leave the rest, do I owe cap gains on the $100 I remove?

My understanding is taxing only on the loss/gain of original investment because you should also be calculating short term long term based on how long you held it.

Tastybrisket10 said:

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My understanding is taxing only on the loss/gain of original investment because you should also be calculating short term long term based on how long you held it.

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Thanks. I wanted to confirm.

Just an FYI, LITH (lithtoken.io) is up @20% so far today.

First official WallstreetBets Instagram post regarding LITH is scheduled for 130cst today. Should be an exciting afternoon (3 days).

Don't forget to buy the rumor sell the news.

https://instagr.am/p/CSuah1BJEGZ