iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
21,264 Blog Posts

Stop Micro-Managing Your Fucking Crypto Holdings

What is your goal holding ETH or BTC? Is it cap gains — get rich quick? If so, you might be waiting a long time to realize those goals. My exposure to ETH is and always has been a hedge against the US dollar — a place to store value in case our $25 trillion in debt ever blew up or something occurred in the world that caused fiat currencies to fall out of favor. Under this thought process — the daily fluctuations of cryptos are completely meaningless and do not affect me at all. Granted, back in May it was very interesting to see all of the shit-coins and admittedly I was ensnared to trade some of them. But shortly after the initial drop, I sold them all and just held ETH — because it is my believe, at some point during my life, it will come in handy.

In the after hours cryptos are dropping on news Amazon does not plan to accept Bitcoin. Ok — and why is that relevant? BTC never needed Amazon adoption, so why do we care now?

The market traded fine today, if a little lazy and slow. There are electric moves happening in crypto derivative stocks and Chinese Burritos. Other than that, I like inflation sensitive materials and miners.

I ended the session +40bps, down from a session high of 72bps — thanks to a poor trade. I ended up with 34% cash and a decent blend of risk and risk off stocks to take me into tomorrow without much concern.

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11 comments

  1. it is showtime

    “Why this is happening is beyond my comprehension”

    The spike protein has affinity for the Ace2 receptor.
    That was known from the start.
    Ace2 receptor is heart kidneys and. reproductive
    If the vax circulates after injection, will slowly hit those.
    They’re putting the spike into you. Generally it’s circulating.

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    • rigged game

      It would be nice if a couple of 6 foot four 300 pounders would tackle you,
      rip your pants down, and jab you in your fat ass with Covid vaccine,

      Then you would be less of a menace to society.

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      • moosh

        What a totally normal non-menacing to society thought to say to someone, simply for giving their opinion on a matter which shouldn’t even matter to you.

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        • rigged game

          It matters to me because shmucks who attack vaccination with false narratives are causing me, my wife, my kids and my grandkids to have to wear masks and maintain
          social distancing FOREVER.

          I want NORMALCY and the way to get it is to shut you fuckers up with truth and vaccinations.

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          • ezthere

            Ahhh shut up

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          • it is showtime

            Get mad at whoever’s running this
            None of that was false
            Get mad at yourself for complying

            I said last fall, the societal impositions
            were mostly for you to beg for normalcy.
            You’re begging for normalcy.
            It’s called hegelian dialectic.

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          • emersonlakepalmer
            emersonlakepalmer

            My penis erect in in its normal state

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          • purdy

            Why can’t these people just comply?

            I have listened to some of the Sunday shows, to NPR and to PBS News. I have learned how to reach out to the anti-vax people: as Chris Christie explained: ‘you very slowly explain your own rationale for getting the shots and then they will agree to get the shot.’ Do talk slowly.

            Some of the other Sunday shows said to get people with whom anti-vaxers can relate to convince the non-vaxxed …e.g., pro-wrestlers and NASCAR drivers.

            As for NPR ..you can just FEEEEL their compassion for the non-vaccinated. Their caring voices nearly break with emotion as they try to figure out how we might help very low IQ people to see the light. Ahhh, to be so smugly certain

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      • roguewave

        I don’t know why you are worried. The ‘vaccine’ works. You don’t need a mask. No worries mate.

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  2. mad marsupial

    Crypto trades more on Headline news than fundamentals or technicals. I suspect it will be that way for a long time. If the USG goes hard after ‘Safecoin’, it may not be long before they decide they have to clamp down on crypto more broadly. That’s when we have to pay attention.

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  3. roguewave

    Amazon will adopt some type of crypto. It’s when not if. (CZ paraphrase)
    Remember when Jamie Dimon said crypto was only for criminals. I guess in his case; he was right.

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