Crypto currency

[Concrete Helmet]

I'm right there with you. I've been too scared to get fully into bitcoin...but now that these legit companies are investing heavily in it, I'm throwing a small amount. I like @UFHealthGator strategy to dollar cost average into it.

My MFH stock is up 18+% since I got into it after the recent BTC sell off. I only bought $1000 worth, but I'll take $180+ after a few days! The problem w/ MFH & MARA is....when do you sell?

That's also a problem of not nutting up enough cash for the initial entry...if I had gone in bigger at the beginning then I would probably take 25% profits every time it spiked up and leave the rest in. As it is now I'm looking to double up if it hits the 43-44 range....I still kick myself in the ass from passing back in November when I swore I was going to buy one full BC...it was 17k at the time...Most of that money ended up going into more metals which is ok but in retrospect I could have bought more gold and silver with the profits from the bitcoin

 

[BMF]

That's also a problem of not nutting up enough cash for the initial entry...if I had gone in bigger at the beginning then I would probably take 25% profits every time it spiked up and leave the rest in. As it is now I'm looking to double up if it hits the 43-44 range....I still kick myself in the ass from passing back in November when I swore I was going to buy one full BC...it was 17k at the time...Most of that money ended up going into more metals which is ok but in retrospect I could have bought more gold and silver with the profits from the bitcoin

Shoulda, woulda, coulda....story of my life!! On that note, MPH is down after I was bragging about the run up. Anything BTC related is tough, it's so volatile. You could have gotten in at $17K then sold when it topped $30K, and you would have been very happy....until it ran up to $40K....then $50K....then $58K. So who knows. I'm going to set a profit % on MPH and sell. With BTC, I'll start buying the dips (I actually just bought actual BTC this week for the first time).

 

[Detroitgator]

That's also a problem of not nutting up enough cash for the initial entry...if I had gone in bigger at the beginning then I would probably take 25% profits every time it spiked up and leave the rest in. As it is now I'm looking to double up if it hits the 43-44 range....I still kick myself in the ass from passing back in November when I swore I was going to buy one full BC...it was 17k at the time...Most of that money ended up going into more metals which is ok but in retrospect I could have bought more gold and silver with the profits from the bitcoin

Dude, you can buy FRACTIONALLY! Ya don't have to buy a whole coin anymore! ;)

 

[BMF]

It's sitting under $50k right now.

 

[UFHealthGator]

Dude, you can buy FRACTIONALLY! Ya don't have to buy a whole coin anymore! ;)

You never had to buy a full coin, ever.

@BMF I am not sure why, but it seemed the best day to DCA is sometime Saturday evening / Sunday morning because crypto markets tend to be generally flat during those days, but obviously take it with a grain of salt.

 

[Detroitgator]

You never had to buy a full coin, ever.

@BMF I am not sure why, but it seemed the best day to DCA is sometime Saturday evening / Sunday morning because crypto markets tend to be generally flat during those days, but obviously take it with a grain of salt.

Yeah, i meant due to the price. I only bought whole coins... at $2,700 and at..... $900.

 

[Concrete Helmet]

Dude, you can buy FRACTIONALLY! Ya don't have to buy a whole coin anymore! ;)

I know but I don't want the physical anymore...I own Grayscale....ask me about my logic ....

 

[BMF]

That's also a problem of not nutting up enough cash for the initial entry...if I had gone in bigger at the beginning then I would probably take 25% profits every time it spiked up and leave the rest in. As it is now I'm looking to double up if it hits the 43-44 range....I still kick myself in the ass from passing back in November when I swore I was going to buy one full BC...it was 17k at the time...Most of that money ended up going into more metals which is ok but in retrospect I could have bought more gold and silver with the profits from the bitcoin

It's in the $46k range right now....

 

[BMF]

MFH & MARA are both down pretty good this morning.

 

[UFHealthGator]

GBTC at a discount for the first time since 2017 or 2018 I believe. Usually price per share of GBTC is slightly higher than 0.001 of a BTC, which is the "GBTC premiume". Yesterday and today it is lower for the first time in few years. I bought some under my Roth IRA today. At least uncle sam won't tax me for it.... I hope.

GBTC Discount or Premium to NAV

 

[Concrete Helmet]

GBTC at a discount for the first time since 2017 or 2018 I believe. Usually price per share of GBTC is slightly higher than 0.001 of a BTC, which is the "GBTC premiume". Yesterday and today it is lower for the first time in few years. I bought some under my Roth IRA today. At least uncle sam won't tax me for it.... I hope.

GBTC Discount or Premium to NAV

I was thinking having some added to our PSP when we make our annual contribution. The PSP is very conservative(6-8%) and we wanted it that way but it might be kinda fun to spike it with maybe 3-5% or so of GBTC...

 

[Concrete Helmet]

It's in the $46k range right now....

I grabbed 30 more shares of GBTC at $43 earlier today....looks like it tested the 41-42 range and came back

 

[BMF]

I grabbed 30 more shares of GBTC at $43 earlier today....looks like it tested the 41-42 range and came back

BTC is under $45K this morning...I added $450.

 

[Gator By Marriage]

I bought some under my Roth IRA today. At least uncle sam won't tax me for it.... I hope.

You are wise to add “I hope.”

I too have a Roth, but have always believed they are risky. It’s often a fool’s errand to bet on what a future Congress might do. Let’s say a bunch of folks do what you did and Bitcoin goes as crazy some are predicting. You just know the politicians would look at those bulging Roth’s and salivate.

 

[UFHealthGator]

You are wise to add “I hope.”

I too have a Roth, but have always believed they are risky. It’s often a fool’s errand to bet on what a future Congress might do. Let’s say a bunch of folks do what you did and Bitcoin goes as crazy some are predicting. You just know the politicians would look at those bulging Roth’s and salivate.

Still beats buying it in a taxable account.

 

[Gator By Marriage]

Still beats buying it in a taxable account.

True, but at least in a regular IRA, you can use pre-tax earnings.

 

[UFHealthGator]

True, but at least in a regular IRA, you can use pre-tax earnings.

The only reason for an IRA for my tax bracket is to be able to convert into a backdoor Roth IRA. I keep my traditional IRA at zero to avoid the pro-rata calculation that negates my Roth IRA tax benefits. I already maxed all my tax-deferred accounts otherwise.

 

[BMF]

You are wise to add “I hope.”

I too have a Roth, but have always believed they are risky. It’s often a fool’s errand to bet on what a future Congress might do. Let’s say a bunch of folks do what you did and Bitcoin goes as crazy some are predicting. You just know the politicians would look at those bulging Roth’s and salivate.

Apparently Biden admin is trying to change the 401K tax rules - "to make it fair" (of course) for lower income earners. What a complete joke! I make barely too much to contribute to a Roth (although I do put into the Roth TSP). I do have a Roth from before I made too much to contribute, and that's where I do most of my short-term trading (to avoid the tax implications).

 

[UFHealthGator]

I do have a Roth from before I made too much to contribute, and that's where I do most of my short-term trading (to avoid the tax implications).

Why not do a backdoor conversion to your Roth?

 

[BMF]

Why not do a backdoor conversion to your Roth?

I only have a TSP account, so I can't backdoor it until I retire/leave gov't service (right?).