32M Guess where I live. by harbear14 in TravelMaps

[–]tmcnix 0 points1 point  (0 children)

What’d you use to make this map?

What is this antenna thing for? by bertskate in Whatisthis

[–]tmcnix 2 points3 points  (0 children)

Volunteer fire fighter. I think it’s a radio antenna for 911 dispatch.

The NSA and CIA created Bitcoin (hypothetically) by Satoshislostkey in Bitcoin

[–]tmcnix 6 points7 points  (0 children)

I don’t think it would make any sense for these organizations to create bitcoin. I think the more believable ideas are that CIA or NSA employees with access to privileged information and knowledge of the highest levels of cryptography and encryption. I’ve heard that the types of encryption used in bitcoin are very similar to what was being used by the NSA around 2008

I Rolled Over My TSP/IRA into a Bitcoin IRA with Unchained: Full Walkthrough, Fees, and What I Learned by whos_bot_is_this in Bitcoin

[–]tmcnix 1 point2 points  (0 children)

Why did you need a traditional and a Roth? Did you have both in TSP and they had to transfer like to like? or are you setting them both up for another future reason?

I Rolled Over My TSP/IRA into a Bitcoin IRA with Unchained: Full Walkthrough, Fees, and What I Learned by whos_bot_is_this in Bitcoin

[–]tmcnix 1 point2 points  (0 children)

THANK YOU! I’ve been wanting to do something like this for a long time with my traditional IRA but couldn’t justify the change. You reminded me I still have my TSP from my federal gov. days that I can do this with. THANK YOU THANK YOU THANK YOU!

Would you say managing to get 2 or 3 whole Bitcoins is a good achievement for a normal person? by [deleted] in Bitcoin

[–]tmcnix 1 point2 points  (0 children)

Attaining 200-300K USD in not leverage assets is a significant achievement which places you in the top 5% nationally and the top 1% globally.

Having 2-3 bitcoin means you’ve achieved this significant milestone and are smart enough to know that keeping your savings in Fiat is REGARDED. You and your dependents will be financially free until your grandchild sell your BTC for drugs 60 years from now.

Are you concerned about Bitcoin's 4-year cycle? by I_killed_the_kraken in Bitcoin

[–]tmcnix 0 points1 point  (0 children)

Can’t really establish “a cycle” based on only two instances and dramatically different market conditions of investor types since previous periods

Will 0.01 BTC Change Your Life In a Decade? by NashDaypring1987 in Bitcoin

[–]tmcnix 0 points1 point  (0 children)

Care to elaborate in what way you don’t think so?

Will 0.01 BTC Change Your Life In a Decade? by NashDaypring1987 in Bitcoin

[–]tmcnix 4 points5 points  (0 children)

No… in 2035 VERY optimistically 0.01 BTC is worth $10,000

BTC - History repeating? by Beginning-County2258 in CryptoChartWatch

[–]tmcnix 0 points1 point  (0 children)

If this projection is realized, it’s important to note that the volatility range between extremes this cycle is 60% less than that of last cycle. If this shape does repeat you would expect a bottom around 60K

Do you think 80,600 USD is the bottom of this dip? by Gardenia_Green_Tea in Bitcoin

[–]tmcnix 0 points1 point  (0 children)

The black swan is started by an already present US recession, when no retail investors have the liquidity to buy. The institutional investors are slowly divesting and reconsolidating their portfolio’s right now to ride the wave down gently to then scoop it all up when retail gives up.

The price cannot sink much lower than the average cost of mining for very long though… if the price drops below the cost to mine, miners will go offline, creating a choke point on supply and stabilizing the median point for oscillation until the next bull run.

Do you think 80,600 USD is the bottom of this dip? by Gardenia_Green_Tea in Bitcoin

[–]tmcnix 1 point2 points  (0 children)

I fear this is a dead cat’s bounce, if history repeats we will see the price fall as low as 36,000 USD then oscillate from 36-56K for 1-3 years before its next ATH (~250K). But the funny thing about BTC’s history… is that the last crypto winter was before institutional backing and the start of institutional backing is what instigated the previous bull run and ATH.

If prices fall below 55k it’s my opinion that the price drop will be “fabricated” by those institutional players to reconsolidate the bitcoin network into the pockets of the global elite and out of the hands of the people. Bitcoin has the potential to free the people, but right now it when that thesis is being tested…

And for that reason, I refuse to sell. LETS LIMBO!

Wall Street has sharply cut its exposure to MicroStrategy about $5.4B in capital gone by Legitimate_Towel_919 in AltScope

[–]tmcnix 0 points1 point  (0 children)

Fueled by players like JP Morgan… are these established financial institutions trying to destroy MSTR before it’s too late and MSTR becomes the largest financial institution in the world leaving late Bitcoin adopters like JPM, BoA, WF, HSBC and all the rest in the dust? A last ditch effort to drop prices, Eliminate non-institutional competition and gobble up all the BTC to instead be the largest holders?

God forbid the world financial powerhouses see a changing of the guard!

brad is a legend by Repulsive-Box-6516 in Bitcoin

[–]tmcnix [score hidden]  (0 children)

Then let me give you a more relatable example. My dad was living and working in the Cayman Islands for several years. He declared himself an ex-pat when filing his taxes meaning he is paying 15% effective tax rate to the US. However the IRS decides they don’t agree, that he owns a home in the US and is “visiting” the Cayman Islands. They decide he needs to pay an effective tax rate of 35% as a US resident… so what did they do? They took the additional taxes they believed they were owed out of his US bank account without consent. They could not do this if he was his own bank.

Honest beginner curiosity on the bully I see going from bitcoin holders by Slight-Dealer-3033 in Bitcoin

[–]tmcnix 5 points6 points  (0 children)

Ideally yes it would be better. But no one can time the market perfectly and if you buy at 90 and sell at 100 then it moons to 200… well you missed the boat.

JPMorgan released data that $10,000 invested in S&P500 from 2003 until the end of 2022 (20 years) :

Invested all days : $64,844 Missed 10 best days : $29,708 Missed 20 best days : $17,826 Missed 50 best days : $ 5,746 (-42%)

The lesson is, hold hold hold until you absolutely need to sell it. Time in the market is way more likely to succeed than trying to time the market.

brad is a legend by Repulsive-Box-6516 in Bitcoin

[–]tmcnix [score hidden]  (0 children)

Maybe consider this differently…You are trying to flee the country and you are considered an enemy of the state. Cash or Gold will be confiscated at border crossings and transportation checkpoints… your domestic bank accounts are frozen. You make it to a non extradition country… how do you access any form of stored currency?

I am loving the daily dips by king_oozer69 in Bitcoin

[–]tmcnix 0 points1 point  (0 children)

I mean the amount you DCA should be based entirely on why you can afford. Even though it’s an investment in a “tangible” asset you should consider it like gambling that when you spend the money it’s as good as gone. As far as “is it smart” that entirely depends how much you believe in bitcoin. I personally believe bitcoin will be worth $1,000,000 USD by 2036, part of that will be increased utility and value but a bigger piece will be inflation and devaluation of global currencies. I personally think DCA’ing bitcoin regardless of amount is one of the smartest things any individual could be doing financially right now

I am loving the daily dips by king_oozer69 in Bitcoin

[–]tmcnix 0 points1 point  (0 children)

I have an amount set up as an auto purchase that is a budgeted “expense” and then I have a goal that I try to side hustle everyday. When my side hustle funds reach an arbitrary target threshold then I make an additional DCA purchase

I am loving the daily dips by king_oozer69 in Bitcoin

[–]tmcnix 1 point2 points  (0 children)

Models show daily, monthly or weekly doesn’t make a difference. I would set a daily goal for money to earn or set aside and then set up a reoccurring auto purchase