Bitcoins/Litecoins/Virtual Currencies

Rajaah · Apr 9, 2021

Binance is approved, took a couple days but not too bad. They've got an option to directly link your bank account, which I assume greatly speeds up transactions. However they need your banking system password so that's out, had to go with the debit card linking option.

VET about to hit .12, feels like I'm arriving late to the party. Still early enough to buy in, or will it drop back down? Hard to tell because it doesn't have much history to study.

Also can someone explain the bottom part here? How do I read the Order Book section? I'm thinking that's a record of who is buying/selling currently?

Edit: Setting up a buy-in in case it somehow goes below $10 while I'm asleep or not looking. I'll take another look at it tomorrow.

Rajaah · Apr 9, 2021

Jackie Treehorn said:
No big secret really! I have a base salary of $140k a year. Not married, never had kids. I’ve owned a couple of BMWs, a Corvette for example, but now I drive a Civic. I could get a much more expensive car but I choose to avoid payments, expensive tires, etc. At some point I started to view money spent on some frivolous things as missed opportunity

I’m not a miser by any means, I go out to eat a lot with friends, go to events (or did before COVID,) buy myself things I want within reason, go on decently nice vacations, etcetera. I just make a decent salary and get lucky trading every now and again. Helps not having much overhead like payments, kids, a big house, etc. Women I date tend to be in the same financial situation as me so I’ve never had to support anyone in any way.

I guess that’s about it really. Just being smart-ish about money with some luck added in (ie making $40k on AMC back in January.)

I definitely wouldn’t have $38k in cash not doing anything but you don’t want to be crazy with it either. I’d honestly probably buy some of the near-NAV SPACs with it. There are plenty of below NAV SPACs right now too. They’re really not a gamble whatsoever and they’ll beat the shit out of cash.

Below-NAV SPACs are the way to go. Don't do one of the things I did and invest in companies you like, like SpaceX, only to watch them drop from $48 to $27 a week later.

Who's upset? I'm not upset! NO ONE'S UPSET.

I've broken even overall since January, but not by a whole lot. Maybe $700? I made a lot on Mana, AMC, CCIV, and Bitcoin. Lost a lot on GME, Doge, Lordstown.

TJT · Apr 9, 2021

What is the advantage of Binance to Coinbase?

LachiusTZ · Apr 9, 2021

Tmac said:
Feel free to DM me, but where the eff do you get all this cashflow??

My wife and I have $38k in savings but I feel iffy about putting into investments.

Hard to keep cash when your buying 30 million dollar hydro plants

LachiusTZ · Apr 9, 2021

Rajaah said:
Below-NAV SPACs are the way to go. Don't do one of the things I did and invest in companies you like, like SpaceX, only to watch them drop from $48 to $27 a week later.

Who's upset? I'm not upset! NO ONE'S UPSET.

I've broken even overall since January, but not by a whole lot. Maybe $700? I made a lot on Mana, AMC, CCIV, and Bitcoin. Lost a lot on GME, Doge, Lordstown.

You didn't invest in space X... Lol

Arden · Apr 9, 2021

TJT said:
What is the advantage of Binance to Coinbase?

Much, much cheaper exchange fees. I paid $6 to buy 8k in ETH for example.

Sanrith Descartes · Apr 9, 2021

Tmac said:
Feel free to DM me, but where the eff do you get all this cashflow??

My wife and I have $38k in savings but I feel iffy about putting into investments.

Jackie is the AMC pimp-daddy.

Sanrith Descartes · Apr 9, 2021

Jackie Treehorn said:
I’d honestly probably buy some of the near-NAV SPACs with it. There are plenty of below NAV SPACs right now too. They’re really not a gamble whatsoever and they’ll beat the shit out of cash.

Tmac · Apr 9, 2021

LachiusTZ said:
Hard to keep cash when your buying 30 million dollar hydro plants

That wouldn’t be any of my money. The state and federal programs are insane money.

Tmac · Apr 9, 2021

Jackie Treehorn said:
No big secret really! I have a base salary of $140k a year. Not married, never had kids.

wellthereitis.gif

Caliane · Apr 9, 2021

Jackie Treehorn said:
Alright, I’ve got some coin now. Maybe I’ll buy another $20k worth in the coming month or something, we’ll see how it goes. If ETH does what a lot of people here and elsewhere says it will this year this is a healthy start I guess. Would have been nice I had I got a cost average at 1800 or less but waddayagonnado.

good luck!

also, man don't tell anyone how much coin you have. Even here, too many salty assholes.

Rajaah · Apr 9, 2021

LachiusTZ said:
You didn't invest in space X... Lol

Yeah, what I actually got was SPCE. It's come up in the investing thread before, mistakes were made.

Not as big as selling Mana at 41 cents. I could make a Downfall rant subtitle video about my stock/crypto mistakes. At least I'm in the positive at all overall and learned a bunch of lessons.

Arden said:
Much, much cheaper exchange fees. I paid $6 to buy 8k in ETH for example.

I just dropped $100 in Binance just to test it out, $5 fee for doing that. Yikes. I assume that's a $5-6 flat fee every time you deposit money, rather than a 5% fee? As in, I could deposit a thousand and it'd be a $5 fee?

VET at .13 just about, was .12 six hours ago...sigh. I was totally ready to put down a lot on this a few days ago when it was sub .10 but now I'm stuck in a Catch-22 of not knowing when to jump in.

Flobee · Apr 9, 2021

Caliane said:
good luck!

also, man don't tell anyone how much coin you have. Even here, too many salty assholes.

Similarly folks should probably stop posting how much crypto they hold, even if you don't plan to hold the keys yourself. You're just making yourself a target. This ain't the internet in 2003. All it takes is one person willing to take the time to track you down and buy a $5 wrench that they plan to hit you with until you give em your keys. All the cryptography in the world won't save you from that and you don't have a bank or other counterparty to protect you.

Maybe it sounds dumb now, but what if your coins go up 10x, 100x, or even 1000x. Gets a lot more feasible then and that isn't historically unrealistic.

Tmac · Apr 9, 2021

Flobee said:
Similarly folks should probably stop posting how much crypto they hold, even if you don't plan to hold the keys yourself. You're just making yourself a target. This ain't the internet in 2003. All it takes is one person willing to take the time to track you down and buy a $5 wrench that they plan to hit you with until you give em your keys. All the cryptography in the world won't save you from that and you don't have a bank or other counterparty to protect you.

Maybe it sounds dumb now, but what if your coins go up 10x, 100x, or even 1000x. Gets a lot more feasible then and that isn't historically unrealistic.

Guess I missed all those violent crime reports of forum bros getting hunted down by the mafia and wrenched to death for the crypto key they kept on a business card.

I don't completely disagree, but I don't think people are going to "hunt you down" either.

Flobee · Apr 9, 2021

Tmac said:
Guess I missed all those violent crime reports of forum bros getting hunted down by the mafia and wrenched to death for the crypto key they kept on a business card.

I don't completely disagree, but I don't think people are going to "hunt you down" either.

It happens.

Robbers tortured a man with a drill to steal his cryptocurrency

The attack happened in view of the man's four-year-old daughter.

futurism.com

Kidnapped Chinese student released after paying $800,000 BTC ransom

While the student has been released, China has warned that they’ve seen kidnapping scams before.

coingeek.com

Bitcoin Thieves Threaten Real Violence for Virtual Currencies (Published 2018)

Criminals have been going after big holders of Bitcoin and Ether, taking advantage of the ease with which vast virtual currency riches can be transferred.

www.nytimes.com

Be flippant about it if you want, but at least understand the risk. It is a self sovereign asset so you can be physically assaulted and robbed. Just like hiding cash under your mattress, you don't tell people its there.

The $5 Wrench Attack And Your Bitcoin Stack

A proposed set of solutions to the often-thought-about physical security of bitcoin storage.

bitcoinmagazine.com

Jackie Treehorn · Apr 9, 2021

Flobee said:
Similarly folks should probably stop posting how much crypto they hold, even if you don't plan to hold the keys yourself. You're just making yourself a target. This ain't the internet in 2003. All it takes is one person willing to take the time to track you down and buy a $5 wrench that they plan to hit you with until you give em your keys. All the cryptography in the world won't save you from that and you don't have a bank or other counterparty to protect you.

Maybe it sounds dumb now, but what if your coins go up 10x, 100x, or even 1000x. Gets a lot more feasible then and that isn't historically unrealistic.

You're not entirely wrong, it's something to consider, but I'm not that worried.

Personally, if someone can actually make it into my gated neighborhood (through walls and two separate guarded gates at that,) Paul Kruger and myself will be waiting. I'm that guy with a gun inside the couch in two different rooms.

Sanrith Descartes · Apr 9, 2021

Flobee said:
All it takes is one person willing to take the time to track you down and buy a $5 wrench that they plan to hit you with until you give em your keys.

Its funny, this is a line from the last InfoSec conference I was at. At the end of the day, all it takes is a $5 pipe wrench to overcome all that million dollar encrypted password shit. The weakest part of the security chain is the password holder's kneecaps.

Arden · Apr 9, 2021

Rajaah said:
I just dropped $100 in Binance just to test it out, $5 fee for doing that. Yikes. I assume that's a $5-6 flat fee every time you deposit money, rather than a 5% fee? As in, I could deposit a thousand and it'd be a $5 fee?

You are using your debit card dude. Of course they are going to pass the Visa (or whatever card) transaction fee onto you. You would need ACH deposit to get the free deposits/withdrawals.

Jackie Treehorn · Apr 9, 2021

Arden said:
You are using your debit card dude. Of course they are going to pass the Visa (or whatever card) transaction fee onto you. You would need ACH deposit to get the free deposits/withdrawals.

Yep, use ACH. It’s free.

Rajaah · Apr 9, 2021

Oh, duh. I balked at entering bank passwords, but I was able to link it with the numbers instead. In any case, I've got some VET now... at .13. Gonna try not to mope too much about missing the chance to get it at sub-.10.

I apologize in advance if it crashes now.

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