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06-21-2019, 06:33 PM | #1771 |
MVP
Join Date: Oct 2011
Location: Chandler AZ
Casino cash: $1071004
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Been just buying OTC:GBTC instead of bitcoin. Grayscale Bitcoin Trust. $1.9 billion of bitcoin assets under management. Moves with bitcoin. Hit a high of around $38/share on the 12/2017 bitcoin run to 20k. Started buying at $7.20. Closed today at 13.55. Bought bitcoin on the first runup and held longer than normal because of the high transaction fees. Probably lower now, but I trade stocks for a living, so this is more in my wheelhouse. GBTC is $4.99 to trade, like any other stock on TDAmeritrade. If it hits my stop, I'm out immediately and could buy right back on a bounce. Already swinging a decent amount. Wired funds today, won't be available until Monday. Was hoping against hope that bitcoin would wait until Monday to break 10k so I could add 1800 shares to get to my final position size and hopefully swing it for 1 year. Need a pullback, don't want to buy into a spike. When bitcoin first broke $10k on the 2017 run, there was a pullback from around 11,500 to around 8500 before it bounced right back and ran to $20k. Hoping for something similar, these things have a tendency to repeat themselves.
Warren Buffett says, “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble”. Putting all my buckets out - and then some. Pushing them all to the middle of the table. Did well on the last bitcoin run with bitcoin, ethereum, ripple, and EOS, but this is the move I've been waiting for. I think bitcoin is going to smash the old highs. Will either be sitting on the 50 yard line for the rest of Mahomes's career, or be watching him in sports bars while drinking ice tea for the rest of his career. And this isn't investment advice. It's borderline insane. |
Posts: 13,872
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06-21-2019, 06:35 PM | #1772 | |
What's up braj?
Join Date: Jun 2008
Location: Placencia, Belize
Casino cash: $-76750
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Quote:
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Posts: 16,422
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06-21-2019, 06:44 PM | #1773 | |
MVP
Join Date: Oct 2011
Location: Chandler AZ
Casino cash: $1071004
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Quote:
In investing/trading, always do what works best for you, don't take other people's advice. Assuming that you've put in the time (years), of course. It took a lot of expensive lessons for me to learn that. |
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Posts: 13,872
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06-21-2019, 06:48 PM | #1774 | |
What's up braj?
Join Date: Jun 2008
Location: Placencia, Belize
Casino cash: $-76750
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Quote:
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Posts: 16,422
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06-21-2019, 06:59 PM | #1775 |
MVP
Join Date: Oct 2011
Location: Chandler AZ
Casino cash: $1071004
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I did work for me, that's why I have nothing against it. I trade for a living and like the liquidity of GBTC. I'm in-and-out in a flash. The only caveat is that GBTC is an OTC, so you can't trade it outside of normal market hours. The first few weekends I held a lot of GBTC aged me in dog years, especially the weekend bitcoin flash crashed down to 6600 briefly. Now I'm using house money, so it's nowhere near as stressful.
If this trade works out the way it's intended to, after I hold for a year, I'll sell and buy some actual bitcoin. I already have wallets for bitcoin, ethereum, ripple, and a few other alts. Last edited by JohnnyHammersticks; 06-21-2019 at 07:11 PM.. |
Posts: 13,872
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06-21-2019, 07:34 PM | #1776 |
Banned
Join Date: Jan 2013
Casino cash: $9998560
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10,400
Pretty wild. |
Posts: 53,803
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06-21-2019, 07:40 PM | #1777 |
MVP
Join Date: Oct 2011
Location: Chandler AZ
Casino cash: $1071004
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Posts: 13,872
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06-21-2019, 07:47 PM | #1778 |
Banned
Join Date: Jan 2013
Casino cash: $9998560
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Posts: 53,803
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06-21-2019, 07:48 PM | #1779 |
Hey Loochy, I'm hooome!
Join Date: Oct 2008
Location: PooPooKaKaPeePeeShire
Casino cash: $-49603
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And then buy some more!
__________________
Hey Loochy, I'm hoooome! |
Posts: 41,416
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06-21-2019, 07:49 PM | #1780 |
MVP
Join Date: Oct 2011
Location: Chandler AZ
Casino cash: $1071004
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Posts: 13,872
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06-21-2019, 07:55 PM | #1781 |
Hey Loochy, I'm hooome!
Join Date: Oct 2008
Location: PooPooKaKaPeePeeShire
Casino cash: $-49603
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It's really difficult to show restraint and hodl. I'm hodling until 20k.
__________________
Hey Loochy, I'm hoooome! |
Posts: 41,416
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06-21-2019, 08:20 PM | #1782 |
Banned
Join Date: Jan 2013
Casino cash: $9998560
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$10,600
Much more bass than treble in this one. Edit: $10,750 Edit: $10,830 |
Posts: 53,803
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06-21-2019, 08:27 PM | #1783 |
The End of All Your Dreams
Join Date: Apr 2006
Casino cash: $251241
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Posts: 49,643
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06-21-2019, 08:29 PM | #1784 |
MVP
Join Date: Oct 2011
Location: Chandler AZ
Casino cash: $1071004
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Posts: 13,872
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06-21-2019, 08:35 PM | #1785 |
Banned
Join Date: Jan 2013
Casino cash: $9998560
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Posts: 53,803
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