What went wrong was a decade ago with Africa Oil. They had just had their first discovery in Kenya and everything was looking great. Then we had the oil price collapse. AOIFF went from around $12 or $15 to $2 ish for a very long time.

I forgot to sell at the peak....lol.

I am still here without selling the top. I actually think I paid closer to $12 a share but I could be wrong. It has been way too long.

Hi Rayank,

I remember you from the ERHE days many years ago. Hope you are doing well.

Just my opinion but GBTC is definitely not a P&D. GBTC is currently the only pure Bitcoin asset play in the stock market. It is simply holding Bitcoin as it's only asset. Hence, it is very volatile and follows the price of Bitcoin nicely. I have been in GBTC since 2017 and still acquiring some over time.

As for other crypto stocks, I would be cautious of many of the OTC stocks that claim connection or business in the crypto field. Many of those are P&D's (but fly high on bitcoin price spikes...lol).

If you are just starting to look for crypto related stocks, you might start with Nasdaq listed big mining farms such as MARA and RIOT.

Good luck and nice to see you hear.

Come on.... let's get this thing back up to $1. That would be nice.

Pretty good day so far. I still think Argo has plenty of room to advance in comparison to other miners on the market. Nice steady climb would be fine with me.

Pretty good run started. $49plus Where will it peak tonight?

Bitcoin hit about $49,750 in coinbase.

Big pullback yesterday and now recovering well today. I think it will test $50k again in the next three days.

Yes, I promise you it wont' trade higher tomorrow also. It's a stock market holiday!

Where do you find out information regarding large bitcoin purchases?

$49k... Do I hear 50 this weekend?

Very nice prediction. Bring it on. I am ready for summer..lol

Yes, and I hope the premium doesn't come back now that we have moved to the next leg up. Any premium over 3% promotes manipulation games from the big boys. I've seen it happen. With a fund that holds nothing but liquid assets, this should be trading very close to NAV except to compensate for expected movement while the market is closed. Ok, maybe like a long weekend in an uptrend (like now)....LOL

I agree Tyreek.

With the news that came out this week, if Bitcoin is up again over the next 3 days, next week this should be on a tare.

If MARA and RIOT can be trading in the $30's and $40's, ARGO should not be far behind. I think they will catch up once word gets out. I believe they have similar hash rate coming online this year with plans in the making.

Good luck all

Nice to see INTV coming up off the floor.

INTV survived the Crypto freeze but did some toxic financing during that time. They have successfully found more reasonable financing now and the remaining toxic debt is close to being gone. This bodes well for the future price of INTV.

INTV was once at $5+ share when they had 700 mining rigs. Now they have $3 million in financing to buy the newest rigs on the market.

RIOT and MARA are both shooting up in the $30's and $40's now. There is no reason for INTV to not hid $ soon and double digit dollars later in this year as the newer rigs come online.

Congrats to all the long term holders (and new comers for joining the fun)!

I'm thinking Bitcoin will touch $50k over this long weekend. GBTC will have a gap on Tuesday....

I think the minimum bid of $3 also needs to hold for 30 or 60 days. At least that used to be one of the qualifications to move to Nasdaq

Hey Kick1, what ever happened to Trunkmonk and Nebby? They were classic bears here for years. Saying Bitcoin was worthless and going to $2k or less....LOL One kept claiming....bitcoin can't even hold $8k. That was barely over a year ago or so.

too funny

Nice db. Wisely recognizing the changing environment and adjusting your strategy with it.

I am pretty much a buy and hold person.

I have a day job that I enjoy so I don't have time and energy to put into flipping other coins.

It is fun watching my other coins fight for the lead below bitcoin. It changes frequently to my surprise.

If you have an account with coinbase, you can move from your bitcoin wallet into your bitcoin vault (if you set it up). It takes 3 days to move from a vault back to your wallet as it gets removed from the network. It can give someone a different level of security that someone doesn't find your phone unlocked and transfer from your wallet to theirs.... It also doesn't allow you to panic sell in a sharp downtrend. If you are a frequent trader, this wouldn't be good. lol

Hi db,

I have researched using Trezor but havent pulled the trigger. I also use 3 different exchanges for various reasons that I won't go into..lol.

I do move most of my coins into coinbase vaults to get them off the network.

Thanks Laraz and others.

This is good information to have.

I also think bitcoin is going to 100k (and much higher) and it would be extra bonus to actually earn interest on it while it rises.

However, I will also share a true experience that recently happened to some of my crypto holdings.

I was holding some smaller alt coins on, what I thought was a reputable exchange, LIVECOIN.NET. I held coins there for years. It had good press and what seemed a good platform. On December 24th or 25th of 2020, their network was hacked. Since then they have frozen out every single account and every holding. They say that they have lost it all by the hackers and there is NO WAY of recovering any of it. It turns out this was a russian owned exchanged based out of Belize (I think). They are now claiming that anyone who had an account can provide them with TONS of personal information for authentication to MAYBE get something back. Yeah, I can let russians know all my personal information with picture id, SSN, birth certificates, address, you name it, to prove who I am? Yet, the exchange didn't even have this information in the first place so what is it exactly proving (can you say identity theft?)?

I lost many thousands of dollars in crypto on this exchange. Lesson learned! I am now even more cautious of where my holding are and who is behind it and what are they doing with it.

I am not saying that Nexo is like this as I do not know them well (yet). I am continuing to research the exchange, the reputation, where it is actually located, who is the insurance company behind their backing (and are they reputable), etc.

I caution all to be diligent on where their holdings are and what is happening with them while you hold.

I've been researching Nexo for potentially moving some of my crypto there.

Right now I am still battling with how Nexo can pay 8% interest on bitcoin holdings. It seems too good to be true. What risk are we taking in exchange to getting that much interest?

I do expect all exchanges to eventually pay interest on crypto holdings but I am expecting something closer to 2% - 4%.

Is Nexo using the bitcoin to lend to others while we hold? Are they charging interest greater than 8% in order to give us 8%?

Just trying to understand this new normal.

Wait.... did Elon Musk just #ERHE.... LOL

I'm crackin myself up.

What's up? Did ERHE say they are now drilling for Bitcoin or something? LOL

too funny. When we getting off greys?

Krom,

Excellent post on shorting. My thoughts exactly.

It has it's place to help prevent manipulation but naked shorting completely wrecks the good it can bring to the market.

That's like Elon Musk saying "I have too much money". How is that a negative?

Facebook to the moon. LOL

Is today's jump in price due to it's "dying platform"?

Your post didn't age well.

Yes, my satoshi's are stacking up pretty nicely. Eight decimal places leaves a lot of room for growth and value.

Link is my second largest holding followed very closely by Eth. & Litecoin.

$50k looks to be possible this week.

Enjoy

I think your $100 share price may be closer than you once thought.

That said, the miners block reward is scheduled for 120 more years. I am sure they can come up with the "fair" value for mining fees over the next 120 years.

I run my own mining machines and am very confident in the payout structure although admittedly, I don't plan on being around in 120 years.....lol

fr8,

I respect your thoughts. Those are good questions but they also have multiple answers.

First, a cryptocurrency such as Bitcoin will always be a "global" currency because no one government has control over it.

That said, I disagree that "it is not a store of value". It precisely is exactly that. Just like the dollar is a store of value. That value has the backing of the US government which currently holds fairly high value throughout the world. All government minted currencies only have the backing of the said government, that is why exchange rates exist.

Bitcoin is "priced" in US dollar value in the US therefore both will likely co-exist in the future (IMHO). That is the "store of value". It is how we evaluate the worth of the quantity owned. It is similar to a share of stock. It is priced in US dollars in the US.

The reality is Bitcoin is just one of the current available digital currencies on the market today. It is the first and oldest one and now the most well known one. However, Bitcoin has slowly established it value based on the underlying technology. That technology is NOT exclusive to Bitcoin.

I think it is extremely highly likely that within the next 10 years, most if not all countries that currently have their own currency will also establish their own "crypto" currency including the USA. The technology behind the distributed ledger for quicker and immediate transfer authentication is far more efficient than the current way of centralized ledgers through banks and foreign exchanges.

And as of disasters, nothing will ever prevent any government from printing new "government backed" currencies (digital or fiat) to be used in emergencies. This will just make global digital currencies worth more relatively due to permanently limited supply of the said global currencies.

WOW!!!! Bitcoin looking pretty strong.

Just broke through $46k (currently $46.5k).

Just wow.

Congrats Tamtam. I have been following this for just the past few weeks but not a shareholder yet. Know several others that are.

Good luck

Thanks, LOL. I saw that on their site too. That should cover my account for quite some time. (forever)

It is possible for this to get back to 250 but fairly unlikely.

The actual valuation of GME is between $5 - $10 per share. It will eventually get back to that evaluation when the Reddit fanfare moves on to something new. It's just a matter of time.

I heard they were into building space lasers to start forest fires where ever they want. I also heard they are going to use the lasers to start volcanic eruptions too.

I would agree. It doesn't take long to do minor updates to a website.

I am guessing they are preparing the website for bigger news. I just don't know what or when that will be.

Great day for Argo so far.

Thanks Tesla....lol. Although I don't want to give them too much credit. It is helpful in validating bitcoin for the long haul but I don't think a single company will have much affect on Bitcoin pricing once it hits 6 digits.

Argo is beautifully positioned for the ramp up in pricing this year along with the ramp up in mining capacity. Too bad those Bitmain machines are so back ordered.

Hey ap17, in your opinion is it safe to hold your bitcoin on nexo? What kind of protection/insurance do they have?