Quote from: Biodom on February 22, 2021, 01:12:53 AM

Quote from: JayJuanGee on February 22, 2021, 12:26:14 AM

Quote from: somac. on February 20, 2021, 10:58:39 PM

Quote from: UnDerDoG81 on February 20, 2021, 10:53:25 PM

These people who sell are always a step ahead. After 8 years of hodling I was ready to sell my first small amount BTC (not the one I bought Oct 2020) at $59444. And they knew many people will sell at 59k ish so they started the sell off at 57k Roll Eyes

Now I will rethink if I sell below $99k Cool

How about don't sell at all. At these price levels, there are ways to make an income of 10s of thousands USD a month on your exsisting stash without selling. This applies to stashes under 10 BTC too. Life is good at these levels.

Fuck third-party custody, if you are considering or enticed by anything that involves that.

There are some concepts in bitcoin.. the real deal bitcoin, that incentives are built in, so bitcoin is already designed to increase in value.. .what the fuck more do you need, you greedy fucks (#nohomo) who may well be seriously considering placing your coins with some stupid-ass service trying to claim legitimacy and enticing you with supposed "passive income" .. blah blah blah..

Did I say, "fuck that?" Don't be fucking trying to short-cut your BTC accumulation goals by thinking that you can "make money" using convoluted (surprise terms) contracts when if you accumulate adequately, then you will have way more options just living off the likely ongoing BTC price appreciation that has no real signs of stopping, even though it it is likely to continue to have up and down cycles along the way.. and you can take advantage of that in your long term planning and your refusal to take stupid-ass shortcuts that may well end up screwing you out of your coins by hook or by crook or just by bad luck (such as great price moves that liquidate you out of your supposed collateral that you were not able to adequately cover because you were to fucking busy gambling out of greed).

You will thank me later, even if you might not be able to measure what you are thanking me for, exactly... Wink

Convoluted contracts. What are you talking about?

Do you believe that anyone is going to start giving you money for your bitcoins without conditions? That is called a contract.

Quote from: Biodom on February 22, 2021, 01:12:53 AM

blockfi? that is not optimal, sure, I would never give Zack my btc.
However, selling covered calls is a very well known financial technique that involves NO lending and, frankly, is VASTLY advantageous to the outright selling since you are not selling anything at ALL, UNLESS the price is above whatever the value is, chosen by yourself and nobody else. Covered calls assume that you write them against whatever bitcoin you sent to the broker, they are not "naked", therefore "were not able to adequately cover" is not possible and just shows that you need to research this topic more.

Proving my point.. that these kinds of arrangements are NOT straight-forward processes

Quote from: Biodom on February 22, 2021, 01:12:53 AM

Of course it s not better than hodling, but it is superior to repetitive selling up or down, skimming small amounts (or not small, whatever) that you advocate.

We can agree to disagree.

Quote from: Biodom on February 22, 2021, 01:12:53 AM

Selling covered calls is actually a perfect trade for mined coins since you can lock in value without a sale or assuming a sale at MUCH higher levels if you chose to do it.
If you are lucky, then you retain your btc and if not, you still sold btc at a higher to much higher price (depending on your chosen price for the contract: 75, 100, 200K).
However, if btc is not sold in the end, you generate income and not cap. gains-maybe it matters for some.

since you are such a smartie pants, Biodom, have you been employing this practice?

Quote from: Biodom on February 22, 2021, 01:12:53 AM

Psychologically, you should consider bitcoin on which you wrote covered calls as pre-sold right now for the price attained at some moment in the future. The person on the other of the trade gives you cash right now for the RIGHT to buy btc at that future date at the price that YOU chose (be it 75, 100 or 200K). Yea, tough luck if btc is at 300K and the guy would approx 30X his money and you only get 200K/btc+whatever premium is currently there. Your counterparty would made bank, but so what, you still get your 200K, keep the premium

Fair enough.

Quote from: Biodom on February 22, 2021, 01:12:53 AM

and did not dilly-dally with "little" buys/sells at 56K.

unnecessary dig Roll Eyes