*** Post is for entertainment purpose only Short update Bitcoin has been going up. There's an "interesting" buyer of Bitcoin which is Terra Luna (UST) Bitcoin is extremely undervalued given the current worldwide situation High inflation Global uncertainties (i.e. war) and a need for a safe haven asset like Gold or Bitcoin Government seizures of assets, i.e. Canada with their protesters or the world governments of Russians' dollars, yachts, blocking of accounts unable to go to ATM, etc ----------------------- I converted part of the crypto portfolio to Eth (a little over 100 Eth) and waiting for Bored Ape price floor to come down and maybe acquire one Also looking at Apecoin since all the Yuga Labs (although this was not airdropped by YL) have risen in value by a factor of thousands of % ----------------------- -------------------------- Canadians are kinda fucked now, since Coinbase (and possibly all crypto exchanges) has to report all withdrawals to crypto wallets there and anyone converting to Bitcoin and cyrptos could trigger frozen assets They should have converted a while ago, but it's the case of frog being boiled slowly
*** Post is for entertainment purpose only Bitcoin Conference 2022 in Miami starts 4/6/2022 Usually the conference is bearish for Bitcoin, will this time be different? A few rumors I saw on Twitter Apple may announce purchase of Bitcoin for treasury reserve (very unlikely since Tim Cook said this will never happen on a CNBC interview) Jack Mallers may announce Apple Pay integration with Strike Samson Mow may announce a new country to adopt Bitcoin as legal tender -------------------------------------- I finally acquired a Bored Ape Yacht Club NFT but at a cost of lowering the number of Bitcoin in the portfolio This was not an easy decision, and a few days was spent to really think about this What's most important in order to pull the trigger was to subjectively determine that the risk is "low" since NFT's are not very liquid and they are not divisible (although there are some vault services and NFT lending platforms but they are not for me as I have trust issues giving up control of crypto assets) The company behind BAYC is Yuga Labs Yuga Labs purchased CryptoPunks and Meebits IP Yuga Labs raised $450M in funding giving it over $4B in market cap valuation Yuga Labs has many partnerships With the above in mind, purchasing and hodling a Bored Ape for say until eoy is a good diversification play for the crypto portfolio and who knows, maybe get airdrop(s) which would significantly lower the cost-basis In $ terms, the purchase price is a little over $400K, but the currency used was Ethereum, another tailwind for a positive ROI by eoy is if the price of Ethereum goes up from here ------------------------------------------------- On other news, Fed tightening, yield curve inversion, very high inflation, possible recession are an interesting combination of bearish market environment for all risk assets I think the worst effects would be due to removal of liquidity Meh, Bitcoin and cryptos will be fine in the long term Just hodl
Congrats, must have been a difficult decision. I'm gonna wait on a bear to get on-board. Now at least you have access to the Yacht Club and see for yourself if there is the level of alpha that would justify the floor other than Apes buying more Apes.
Thank you very much, Sprout!! It was a very difficult decision which I discussed back and forth with the wife. She was very supportive of the purchase, but I had a lot of hesitation and had a difficult time pulling the trigger It's also the level of efforts. Simply doing nothing was fine, our portfolio was in good shape and to purchase the Bored Ape required trading and transfers in order to have the necessary amount of Eth for the purchase I'm on the BAYC Discord but just a lurker, I don't want to connect the wallet to collab. I haven't even entered the Bathroom The Bored Ape is a big portion of our crypto portfolio so being very careful with the wallet and very selective on what dapps and platforms to connect to For now, I just watch the wallet address on the Blockchain, check the permissions on revoke.cash (there is none) When (if) there is an airdrop of Land or Koda, I will wait a day or so before connecting the wallet to collect the airdrop to make sure it's safe. I'd prefer an airdrop like the Azuki where the crypto assets just show up on the wallet, but I don't believe that's how BAYC has done the airdrops in the past
*** Post is for entertainment purpose only "There’s likely been some local selling for tax season, but the majority of the sell-off has come from calendar futures which suggests sophisticated investors are in a macro risk-off trade" -W. Woo "(tomorrow) a high probability window for a technical bullish reversal" -W. Woo
The FCA seems to somewhat warm up to cryptos - some crypto firms, among which are Revolut and the start-up Copper, will be allowed to continue their operations on the British market even after the end of TRR (Temporary Registration Regime), FCA announced.
Apecoin started going up when the rumor of the land sale was anticipated for 4/20, but when it didn't happen, Apecoin sold off hard Now it's back up again because there's a Discord channel for the people who KYC'ed for the land sale The other rumor yesterday was BAKC would be used as scouts to hunt for treasures (in the BAYC lands) and even creatures such as the (extremely rare?) Koda I'm out of liquidity but wanted to buy more Apecoin yesterday when it was below $15, sigh...
Hey deaddog, I didn't think anyone reads this thread!! It's an honor, hope you keep reading the thread Liquidity is the key word I spent over $400K on a Bored Ape which has gone up in value, by the way. This sucked up a lot of the liquidity I use for short term trading activities and crypto yield farming endeavors I can easily sell btc, but I won't I can sell out some other crypto assets, but not convinced that would be a good move I can sell some NFT's, but the ones I'm trying to get rid of do not have much trading volume and the bids on my listed items are way too low (imho) I can use cash, but that may be irresponsible life risk management. The cash in the banks are for multi-year living expenses ---------------------------------------- ------------------------------------------------------ The crypto asset I'm trying to acquire more is Apecoin. I think I have enough, but we're anticipating an upmove because of a land sale event part of Apecoin ecosystem ------------------------- I have no plans to sell the Bored Ape NFT. It's an asset I plan to hold til eoy