฿ Donate using Bitcoin! 1LYHyG1WiJsKvxf1p4CA5ApNrniCE26Hns Ξ Donate using Ethereum! 0x6E225E2D29BEB9533Fd36C467981Ea15b8714C24 P Donate using PayPal! paypal.me/mamastinky
Skip to main content
OpenID

News

  • Contact us at admin@silverstocker.com.
  • Newly registered members - If you cannot log in, check your email to activate your account!

Topic: GBTC (Read 260 times) previous topic - next topic

0 Members and 1 Guest are viewing this topic.
  • Erich 
  • [*][*][*][*]
GBTC
I have just crossed the 100% up mark on the remainder of my GBTC shares. I have been selling some staring at BTC 25, 30 and 34.
so far that has been a mistake. I have never seen anything rise so fast and so far in such a short time without a significant pullback.
I'm slowly getting heavier  in the miners, and will be picking up some of Dave's spec plays and some JR's. Appreciate any plays to do some DD on.
GLTA ER

Re: GBTC
Reply #1
Looks very bubbly to me


  • Erich 
  • [*][*][*][*]
Re: GBTC
Reply #2
I thinks we past the bubbly stage weeks ago, but who's to say it cant double from here.
I have been reducing all the way as usual.  To much demand and little supply.
GLTA

Re: GBTC
Reply #3
I am not a participant in bitcoin but I watch it with amazement. A mining company with similar characteristics is ESKYF. For me the difference is the miner has prospective acreage and the price appreciation is in response to very successful exploration results pointing to potential tangible mining operations. WRT bitcoin, I do not see anything other than fear of system collapse and the coins becoming the new go to currency. There is a case to be made as the coins already to a very small degree facilitate trade as a currency, a function of money that could be expanded to handle ever increasing percentage of the economy. But as valid as that might be, FOMO seems to be the real wind in bitcoin's sails at the moment and I fear a calm it the breeze may be at hand. Over $40,000 per coins that were priced at $400 to $500 5 years ago is too rich for me to get in now.

  • Erich 
  • [*][*][*][*]
Re: GBTC
Reply #4
I am not a participant in bitcoin but I watch it with amazement. A mining company with similar characteristics is ESKYF. For me the difference is the miner has prospective acreage and the price appreciation is in response to very successful exploration results pointing to potential tangible mining operations. WRT bitcoin, I do not see anything other than fear of system collapse and the coins becoming the new go to currency. There is a case to be made as the coins already to a very small degree facilitate trade as a currency, a function of money that could be expanded to handle ever increasing percentage of the economy. But as valid as that might be, FOMO seems to be the real wind in bitcoin's sails at the moment and I fear a calm it the breeze may be at hand. Over $40,000 per coins that were priced at $400 to $500 5 years ago is too rich for me to get in now.

Hard to argue your point, but what was $400 and $500 5 years ago was 4 and 5 cents 10 years ago.  This is the trade of the decade nothing comes close. I made good money in 2017 and i'm making money now. 80 percent corrections can and will happen in BTC
and we are way passed due.
GLTA ER 

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: GBTC
Reply #5
IT NEEDS TO CRASH AND BURN. IT A BERNIE MADOFF IN THE MAKING!

Re: GBTC
Reply #6
I am not a fan of bitcoin.  I don't understand where the value comes from other than scarcity due to supply/demand.  It is an IDEA to me, not a Thing.  That being said, I have watched this ridiculous rise in price and have missed out.  I put a small amount of money into GBTC today.  This will just put it on my watch list.  I didn't even know this trust existed until yesterday.  I know there are supposed to be new ETFs coming to the market.  BTCC in Toronto is trading now, but I don't seem to have access to it through any of my three brokerage accounts.  I use Interactive Brokers, which allows trading on foreign exchanges so I expect it will be available at some point.  Does anyone know of other products available that may be a bettter option for those of us who are not cryptocurrency savvy?

  • Erich 
  • [*][*][*][*]
Re: GBTC
Reply #7
Hello I have been in and out of GBTC since 2017. There  used to be an insane premium on it when it was the only game in town. The threat of an ETF has greatly reduced that. I think you capture most of the move owning GBTC. It tracks BTC very well and is very liquid.
I no longer own any I have been playing BTC miners and doing well . Current favorite is ARBKF  averaged to $1.90.
As  I stated before you are playing with fire and huge swings can and do happen, so far to the upside.
Prediction  BITCOIN 100,000

ER  

Re: GBTC
Reply #8
Hello I have been in and out of GBTC since 2017. There  used to be an insane premium on it when it was the only game in town. The threat of an ETF has greatly reduced that. I think you capture most of the move owning GBTC. It tracks BTC very well and is very liquid.
I no longer own any I have been playing BTC miners and doing well . Current favorite is ARBKF  averaged to $1.90.
As  I stated before you are playing with fire and huge swings can and do happen, so far to the upside.
Prediction  BITCOIN 100,000

ER

Her is an article on alternate coins that is not very favorable. some of his points make sense.

http://www.321gold.com/editorials/moriarty/moriarty021921.html

  • Erich 
  • [*][*][*][*]
Re: GBTC
Reply #9
This is the same type of article that has been around for 10 years. Its really just a pump for his silver company he is holding.
Tulips, south sea bubble etc. what i read is I missed out on all the crypto gains and everyone is wrong please buy my silver company.
Here is what reality is BTC 1 dollar 10 years ago BTC 55000 dollars now. Is it going back to  1 or going higher from here is all that matters.

GLTA ER
 

Re: GBTC
Reply #10
This is the same type of article that has been around for 10 years. Its really just a pump for his silver company he is holding.
Tulips, south sea bubble etc. what i read is I missed out on all the crypto gains and everyone is wrong please buy my silver company.
Here is what reality is BTC 1 dollar 10 years ago BTC 55000 dollars now. Is it going back to  1 or going higher from here is all that matters.

GLTA ER
Yep, I just thought it would be good to see the view from the other side of the trade

Re: GBTC
Reply #11
Bitcoin just hit $1 trillion market cap.  At $146,000, it will have the same market cap as all privately held gold for investment.  It's competing with gold.  It is millennial gold.  Corporations are beginning to embrace it.  Micro strategy is taking on corporate debt to invest.  What could go wrong with that?  TPTB aren't bothered at this point.  They can shut it down with rules and regulations when it suits them, and there will be nothing tangible to hodl. It is an excess liquidity sponge for printed money.  Right now, it's helping them control gold prices.  Gold will always be around. There are thousands of altcoins, and they will all eventually find their intrinsic value.  For these coins to survive, they need to be exchangeable for goods and services that people want and need.  The governments and bankers will only let that go so far.  Tesla will sell you a car for bitcoin.  I wish I had purchased about 100 of them years ago when they were cheap.  I think we see 100,000.  The interest and momentum right now is crazy.  One analyst just came out with a $4 million price target in 18-24 months.  It is like a big game of musical chairs.  And it's gone.

Re: GBTC
Reply #12
I dipped my toe in the water.  I didn't jump in.  LOL

Re: GBTC
Reply #13
Just finished doing my federal income tax using turbotax and near the end of the process a question asking if I owned, bought or sold digital currencies in the past year. I answered no but it got me to thinking about special tax considerations, particularly punitive ones of if this is just an info grab by the IRS. Informed thoughts welcome.

  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: GBTC
Reply #14
I'm not informed. Don't worry, there is no way this could lead to the tracking of every single transaction across the entire world.
For Entertainment Purposes Only.