BITCOIN Discussion..........

[homie1975]

You guys holding steady?

I am, Sir.

If anything, I will continue adding to my long-term position.

 

[Ace7550]

You guys holding steady?

I gotta liquidate a significant portion of my position. I have a nice opportunity to buy a property and selling some btc is the only way I can do it. I'll still hold some...

 

[BigJay]

I have a nice opportunity to buy a property

 

[homie1975]

I gotta liquidate a significant portion of my position. I have a nice opportunity to buy a property and selling some btc is the only way I can do it. I'll still hold some...

GL Mate!

 

[Ace7550]

GL Mate!

 

[homie1975]

What area/region are you looking in, if you are comfortable answering?

If you end up needing a loan and not paying cash for the property, hopefully you can ReFi to a much lower rate later in 2024 or in 2025.

As you know, the average 30y rate across the country is 6.5% or thereabouts. This is with at minimum 20% down and a credit score north of 800.

Keep us posted and again, GL Mate !!!

 

[rolandcorts]

TAO is up like 400% since I mentioned it as a good investment. If only I wasn't too dumb to have known how to acquire some months ago.

 

[Ace7550]

What area/region are you looking in, if you are comfortable answering?

If you end up needing a loan and not paying cash for the property, hopefully you can ReFi to a much lower rate later in 2024 or in 2025.

As you know, the average 30y rate across the country is 6.5% or thereabouts. This is with at minimum 20% down and a credit score north of 800.

Keep us posted and again, GL Mate !!!

I live in Santa Cruz CA. It's a flip and the house is only a few blocks from where I live. Gonna gut it and remodel it. Been looking for the right opportunity for months.

546 Ocean View Ave, Santa Cruz, CA 95062 | Zillow

546 Ocean View Ave, Santa Cruz CA, is a Single Family home that contains 1091 sq ft and was built in 1900.It contains 2 bedrooms and 2 bathrooms.This home last sold for $1,295,000 in June 2024. The Zestimate for this Single Family is $1,297,200, which has decreased by $510 in the last 30...

www.zillow.com

This is my first flip. Hopefully I don't blow it

 

[homie1975]

I live in Santa Cruz CA. It's a flip and the house is only a few blocks from where I live. Gonna gut it and remodel it. Been looking for the right opportunity for months.

546 Ocean View Ave, Santa Cruz, CA 95062 | Zillow

546 Ocean View Ave, Santa Cruz CA, is a Single Family home that contains 1091 sq ft and was built in 1900.It contains 2 bedrooms and 2 bathrooms.This home last sold for $1,295,000 in June 2024. The Zestimate for this Single Family is $1,297,200, which has decreased by $510 in the last 30...

www.zillow.com

This is my first flip. Hopefully I don't blow it

$1000 a square foot. That is (most of) CA for you LOL

 

[homie1975]

I live in Santa Cruz CA. It's a flip and the house is only a few blocks from where I live. Gonna gut it and remodel it. Been looking for the right opportunity for months.

546 Ocean View Ave, Santa Cruz, CA 95062 | Zillow

546 Ocean View Ave, Santa Cruz CA, is a Single Family home that contains 1091 sq ft and was built in 1900.It contains 2 bedrooms and 2 bathrooms.This home last sold for $1,295,000 in June 2024. The Zestimate for this Single Family is $1,297,200, which has decreased by $510 in the last 30...

www.zillow.com

This is my first flip. Hopefully I don't blow it

you will do GREAT

 

[KVB]

I live in Santa Cruz CA. It's a flip and the house is only a few blocks from where I live. Gonna gut it and remodel it. Been looking for the right opportunity for months.

546 Ocean View Ave, Santa Cruz, CA 95062 | Zillow

546 Ocean View Ave, Santa Cruz CA, is a Single Family home that contains 1091 sq ft and was built in 1900.It contains 2 bedrooms and 2 bathrooms.This home last sold for $1,295,000 in June 2024. The Zestimate for this Single Family is $1,297,200, which has decreased by $510 in the last 30...

www.zillow.com

This is my first flip. Hopefully I don't blow it

Didn't know you were in Santa Cruz, Ace.

I'll have to hunt you down when the weather gets a little nicer.

 

[rolandcorts]

Santa Cruz has some ACE co-eds

 

[homie1975]

Congrats, but that's because BTC went up overall. How much would you have made doing nothing but holding the last 13 months?

Your strategy is a martingale. It's like picking up pennies in front of a bulldozer. If BTC had had a bad year you would've bought a lot of dips, and been making losses.

you are right.

my strategy was only good short term but not long term because i kept raising my cost basis.

i am no longer selling rips.

i am just adding more to my position.

since it is consolidating at around $40K now, this appears to be what my base will be.

i am okay with that. i did it to myself.

 

[rolandcorts]

Unless you have some systematic way to reliably predict short term movements (which I think is impossible), your trading strategy was basically a 'money management strategy', in this case a martingale. It's no different than betting $2 on roulette, if you lose bet $4, if you lose bet $8, etc.

For a given session you're 99% to win, but you'll win a tiny amount.
The 1% of the time you get slaughtered with a gigantic loss.

Money management strategies never work in a way that circumvents a built in edge for the casino.

 

[homie1975]

Unless you have some systematic way to reliably predict short term movements (which I think is impossible), your trading strategy was basically a 'money management strategy', in this case a martingale. It's no different than betting $2 on roulette, if you lose bet $4, if you lose bet $8, etc.

For a given session you're 99% to win, but you'll win a tiny amount.
The 1% of the time you get slaughtered with a gigantic loss.

Money management strategies never work in a way that circumvents a built in edge for the casino.

As long as BTC stays above $24K, i am ahead.
at $24K i am breakeven historically (realized gains vs unrealized losses).
below $24K and i am in the red.

I feel somewhat decent about my chances and of course if she retreats from ~$40K i will add.

i will measure these decisions in 2030.

 

[Ace7550]

$1000 a square foot. That is (most of) CA for you LOL

I know. It's madness. The money people will pay for incredible weather...

 

[Ace7550]

Didn't know you were in Santa Cruz, Ace.

I'll have to hunt you down when the weather gets a little nicer.

You're in CA too? Where at?

 

[homie1975]

I know. It's madness. The money people will pay for incredible weather...

yup
more affordable though, down here in south OC

 

[rolandcorts]

I know. It's madness. The money people will pay for incredible weather...

Must be more to it. Plenty of other states with great weather in the USA.

 

[Ace7550]

Must be more to it. Plenty of other states with great weather in the USA.

Must be the politics then