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Supdawg

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  1. Oh I have exposure to the market via having 401Ks and IRAs. I choose to save in Bitcoin long term because I believe it will worth significantly more in the future and significantly more than 99% of alternative investments today.
  2. What I love is the absolute shit-show the economy has become - and it absolutely will get worse. Wait for depressed earnings season over the next few months. Full blown recession - next stop until the fed pivots and becomes dovish again, which absolutely will happen after the economy breaks. And the crypto haters all only want to talk about the crypto crash. $16 TRILLION wiped in US equities and bonds, but muh Bitcoin!
  3. There are miners who can mine Bitcoin at 6200$ today. The less efficient miners will switch off. The difficulty adjustment will go down. Everything will be just fine. Pure free market forces at work.
  4. I mean he is, but he was saying the same things when he was up on his position 2 billion too, so your point is what, exactly? Over time, Bitcoin will continue to appreciate. There will be lots of volatility in the coming years between here and Bitcoin to 6-7 figures per coin.
  5. If a player chooses to get paid in Bitcoin per paycheck via strike their cost basis will be on a per paycheck basis. If they choose to take it up front you can sell, tax harvest and immediately re buy back at the lower cost basis.
  6. Sure, they have made bad business decisions around hiring and got ahead of their skis. Let me be as clear as possible. Bitcoin does NOT need Coinbase. It survived before and it will survive afterwards. There is minimal risk from Coinbase to go bankrupt and steal everyone's coins. There are tons of other exchanges that operate in the US. Even if Coinbase took everyone's Bitcoin to fulfill creditors, Bitcoin will continue. Everything will be fine. Again, I would advise anyone who has Bitcoin on any exchange to take it off immediately and self-custody.
  7. What's your point? I already said I wasn't able to remove all of my Bitcoin in time. So they have a material amount. I am hoping that I get it back, but I am not sure if that will occur. Coinbase laying off 18% of their employees has ZERO bad news as it relates to Bitcoin. Celsius and Coinbase are not in the same business. Coinbase has been through multiple bear markets and has never had any issues. As long as traders trade, Coinbase will be fine. They do not rehypothecate coins, they do not offer lending with counter-party risk. They are a centralized exchange. They make money in trading fees. Celsius went out on the risk curve to generate yield. Coinbase generates revenue from trading fees. There are no material counter party risks in a spot exchange. As far as treating it as a total loss, you should sell and take the tax harvesting if you have that little faith in the future. Outside of SHA256 being broken, there is not a price point that I will not continue to buy. I believe with 99% certainty that Bitcoin will get to over 6 figures and 7 figures in the future. Human greed will always exist. Fiat economies all lead to the path of hard money. It's only a matter of time.
  8. I had no direct exposure to either Luna or Just, but it has definitely affected the entire crypto ecosystem.
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