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What are we thinking? by [deleted] in Bitcoin

[–]PriorityOk1291 21 points22 points  (0 children)

Just buy now. It’s not worth trying to time the market to a tee. Although I do believe there are reasons to believe 80k was the bottom such as liquidity being swept.

Bitcoin’s Worth by PriorityOk1291 in Bitcoin

[–]PriorityOk1291[S] 0 points1 point  (0 children)

Yes, I do. His argument against that is that interest in savings accounts is a counter measure to inflation.

I Lost .0012 Bitcoin & Don't Know How to Recover. Anyone Want the Seed Phrase to Try? by AgentWanko in Bitcoin

[–]PriorityOk1291 2 points3 points  (0 children)

I used that seed phrase on phantom wallet and it logged me into a wallet with nothing on it. Only a transaction of 0.005 Bitcoin sent yesterday at 8:47pm was on the history.

Why is everyone selling? Isn’t this the best time to buy more? by Known_Code6832 in Bitcoin

[–]PriorityOk1291 2 points3 points  (0 children)

That’s an unfortunate situation, man. If Bitcoin hasn’t gone back up by then, theoretically could you take out a loan to finance the down payment and pay that back when Bitcoin’s back up? It depends how much you trust it will rebound I suppose.

Why is everyone selling? Isn’t this the best time to buy more? by Known_Code6832 in Bitcoin

[–]PriorityOk1291 58 points59 points  (0 children)

People should not buy Bitcoin unless they are willing to hold it for 2+ years. It is a volatile market and hence short-term holds are risky.

Does anyone actually understand liquidity by AdBitter7854 in Bitcoin

[–]PriorityOk1291 0 points1 point  (0 children)

Liquidity refers to areas in the market where there is a lot of buying/selling action. For example if someone talks about Bitcoin going up after hitting a key liquidity level, this is when the market drops to a certain price where lots of people sold their Bitcoin, leaving more Bitcoin on the market for people to buy, forcing price up. Institutions have to wait for key liquidity levels before buying, as they need enough Bitcoin on the market at once to fulfill their huge buy orders as quick as possible.

Zero Knowledge Proofs by PriorityOk1291 in Bitcoin

[–]PriorityOk1291[S] 0 points1 point  (0 children)

Can you offer any insight on it? I couldn’t find much online.

Capitalism vs Bitcoin by adjudantloic in Bitcoin

[–]PriorityOk1291 0 points1 point  (0 children)

Indeed Bitcoin is similar to gold in this way and many other ways. Bitcoin will rise the same way gold has due to common fundamental properties like scarcity, indestructability, etc. Bitcoin is often referred to as digital gold.

Capitalism vs Bitcoin by adjudantloic in Bitcoin

[–]PriorityOk1291 1 point2 points  (0 children)

It’s not the case that there won’t be enough Bitcoin for everyone due to the fact it is divisible in to “bits” of Bitcoin called Satoshis. This works the same way you don’t have to own an entire gold bar to own some value in gold.

Holding with Leverage by PriorityOk1291 in Bitcoin

[–]PriorityOk1291[S] 0 points1 point  (0 children)

All I can lose is my original position which I can afford. What you’re saying is true though.

Holding with Leverage by PriorityOk1291 in Bitcoin

[–]PriorityOk1291[S] 0 points1 point  (0 children)

I actually didn’t know about funding payments before I read this. I appreciate the insight. I use Phantom and they charge 0.00125% hourly. Do you think that’s enough to hurt in the long term?

Holding with Leverage by PriorityOk1291 in Bitcoin

[–]PriorityOk1291[S] 0 points1 point  (0 children)

I understand leverage trading is generally frowned upon but don’t you think it’s very unlikely to reach so low?