https://www.nasdaq.com/articles/why-trump-must-end-capital-gains-tax-bitcoin
Saturday, December 7, 2024
So I've just heard of this wacky new thing called the bit coin.
Fresh off the back of KULR profits, drunk on my (limited and relative) success, I've unblocked the crayon goop from my nose to begin to sniff out my next big money making losing opportunity.
My main method of stock analysis
Apparently there's this thing that's all the rage now called bidcoin.
If, like me, you hadn't heard of this before, basically it's an imaginary electronic currency.
Kinda like the more famous Hawk coin from the Hawk Tuah girl that I see has been hitting the news in a big way lately it looks like this new challenger to the scene, Billcoin, might be ready for the next big run up.
At the very least I'm willing to gamble on another surge in price over the short term. Whether it's new US fiscal policy to enforce bitcoin payments at border crossings (oh shit this better not give David Sacks any ideas), or something else funny going on over in America, I think anything tied to some funny imaginary digital money is likely to be volatile as heck. (just wait until I realize it's all funny imaginary digital money)
basically I just want it to do this again
Note: This is not an analysis or or endorsement of birdcoin's long term prospects or it's value as an asset, I'm not really qualified to give that kind of a perspective. But, I have a good feeling in my jiminy crickets that we might see a jump before around the middle of next Jan - that's basically it, that's the gamble here.
Also, full disclosure I'm too regarded and stuck in my ways to figure out a crypto wallet, I'm old and I'm tired and figuring out Tiger Brokers reward scheme rotted away the parts of my brain responsible for learning new skills.
So I won't be telling you how to set up a wallet or anything like that.
I decided to just look at bitcoin adjacent stocks already available to me on my broker platform. Minimum effort.
Oh, before we get into it, just in case you may be fooled into thinking I know what I'm talking about with the recent kulr success, here's my NVDA chart showing I did indeed, sell it below $100.
Any time you feel inclined to think I even have a rudimentary grasp of what I'm doing and aren't just falling upwards in a silly money market, I urge you to come back and view this graph to settle those doubts.
Bitcoin adjacent companies
I don't want to expose my portfolio to bitcoin directly, but I do want to profit off any short term appreciation, at least to make (or lose) a quick buck by playing some options and stocks on a company that invests heavily on bircoin.
Apparently, it's a viable business model to just take out loans, buy bitcoin, wait for the bifcoin to appreciate, borrow against the increased value of the company, buy more bitcoin, rinse and repeat.
It's literally an infinite money hack. An infinite mana system in Magic the Gathering cards where you do it a couple of times to show your opponent it's possible, that there's nothing they can do to stop you, and then you just 'win the game'
Well, that's my guess as to how they're doing it. I haven't bought bitzcoin but I have played a bit of Magic the Gathering so it makes sense to me conceptually at least. If that's not how they're doing it then I need to make an appointment with the bank.
In all honesty, I don't know if it's more simple or complex than that and I don't care to learn, but let's have a look at how some other people make money with it.
(MSTR) Microstrategy
Michael Saylor is like the John Constantine of techno-theologican business deals. A company that was founded when Saylor sacrificed his left nut to not 1 but 3 different pantheons of ancient gods, getting them to fight out over who would rightfully claim his future parabolic success as a shrine to their strength, and therefore driving up the price of bitcoin even further in unnaturally impossible ways.
I imagine it looked something like this
- So how do they do it?
Well, funnily enough microstrategy were originally a start up focused on data mining and business intelligence, way back in 1989. As they grew and acquired clients over the 90s, 2000s and further, they also expanded into mobile app development, some other stuff- blah blah, okay, this is the boring stuff. I'm just paraphrasing wikipedia here.
There was a cheeky little bit of fraud lawsuit that was settled with the SEC with no admission of wrongdoing in 200s when their share price went from $7 up to $333 in a year and then fell drastically, so, make of that what you will I guess. Bullish
The cool stuff with bitcoin happened starting around 2020 where Microstrategy invested a bunch of their cash reserves into bitcoin as a "treasury reserve asset". To put it simply (like, really really simply) it's basically the infinite money glitch I theorized above but using their cash reserves instead of loans, primarily.
But yeah, it's kinda reached it's meme stock status just because they keep buying a bunch of bitcoins, value go brrrr.
Other bitcoin-adjacent companies
(MARA) Mara - Marathon digital holdings are an "american digital asset" company. So, basically they mine bitcoin and other crypto currencies. They've bought bitcoin, and run mining facilities, however they have had their share of controversies, notably being involved with a patent troll company, and then more recently being investigated for noise and health complaints by Time magazine from allegations of nearby residents to one of their facilities.
Good enough for me, bullish - featured in Time.
I'm going to be taking positions around the above stocks, but here are some other bitcoin adjacent companies that you might want to look into if you're thinking of getting into this space. Not financial advice, you know the drill.
(BITF) Bitfarms limited - mining of crypto coins over Canada, the US, Paraguay and Argentina. They also run electrical engineering and repair services in-house so that's pretty neat.
(HUT) hut 8 - self mined bitcoin reserves. I couldn't really find much about this group to set them apart, but on their website I thought this was funny
(CLSK) Cleanspark - bitcoin miner in the Americas that focuses on data centers run on low carbon power.
- Bitcoin ETFS
For a bit of diversified exposure in the scene, instead of having to try and pick which one of these 'digital asset' companies are going to succeed in their money hack gambles-
(BTC) Smart Bitcoin ETF - our very own NZX bitcoin ETF, nice!
(IBIT) iShares Bitcoun Trust ETF - a NASDAQ listed Bitcoing ETF
I mean, that's all well and good, but for my particular tastes, I was gonna need more leverage
These bilcoin appreciation funds are already leveraged to all fuck against the price of bitcoin, and as much as this new craze was beginning to hit, I knew, I had to go deeper. I needed to amp up the steaks, I was going to find a 2x fund with the juiciest, somewhat riskiest option contract I could find, roast it and smoke it.
- Leveraged bitcoin funds
Now we're talking. This is the good shit. It makes you squeak "woo!" after you hit the buy button and throw your kiwisaver funds that you got out through financial hardship on some of the riskiest, dirtiest funds known to Warren Buffet's therapist. Perfect for my personal risk tolerance.
- MSTX - Defiance 2x Daily Long MSTR
- MSTU - T-Rex 2x Daily Long MSTR (note MSTU is currently set to split 1 to 10 on 16/12/24)
- Or, if you want to get really spicy, there is MSTZ, the T-Rex 2X Inverse daily, a short fund for microstrategy.
Whatever your flavour of degenerate gambling, the markets have got you covered, no fancy techno wallet or whatever the kids are calling it, required.
* My position
Now, I wanted to have a bit of fun with this, but I'm not going overboard. I am NOT dumping my kiwisaver that I got out through financial hardship on this, more just a bit of a gamble on this risky thesis.
My position on this short term bitcoin play is-
1x MSTX 100 call - microstrategy 2x daily leveraged
1x MARA 25 call - it's like temu microstrategy
100 x shares MSTY - hoping for a large run up before the div ex date, due to general mstr volatility, and then I'll sell before div ex
* The exit strategy-
I'm not planning to try and hold these for a big payout, I'm just hoping some news event and volatility spike sends the price up so I can collect a bit of profit. I'll likely set my take-profit levels somewhere between 30-50% for each of these positions and look to close them off when the opportunity presents itself.
Either way, should be an interesting play! Greenbean out! (to go look into this exciting new opportunity of Hawk coin, my mate over in Dubai swears it's gonna have another run up soon!!1)
Friday, December 6, 2024
Are any of the Bitcoin ETFs an actual good investment?
All of my investments are tied up in my IRA. Looking to invest in Bitcoin without withdrawing from my IRA and creating a taxable event.
Day 106 Friday December 6th 2024
Hello everyone interested in The Ghost Disruptive Innovation Fund and welcome back to day 106!
Today's post is going to address the elephant in the room, $100,000 Bitcoin. What this means for the fund and a minor look at all 3 of the funds holdings that have doubled so far, Bitdeer Technologies (BTDR), Sofi Technologies (SOFI), and MicroStrategy (MSTR). Please stay connected for future trades, updates on holdings, and more holding reports! As always thank you for the continued interest in The Ghost Disruptive Innovation Fund!
$100,000 Bitcoin
On the night of December 4th 2024, all Bitcoin enthusiasts were greeted with Bitcoin finally crossing over $100,000 and a market cap of over $2 Trillion. Bitcoin has been on a hot streak since the US Election ended and with more and more continuously positive news for Bitcoin being released. The Fund has been absolutely elated since this event as should all Bitcoin and crypto enthusiasts! For all of those that did there due diligence and held there assets during rough periods, this is your reward. The Ghost Disruptive Innovation Fund is in that category. When Bitcoin was barely $55,000 the fund was worth roughly $180,000 showing losses on Bitdeer Technologies (BTDR), Bitfarms (BITF), CleanSpark Holdings (CLSK), Iris Energy (IREN), and other Bitcoin Proxies. The Fund held its strong beliefs in Bitcoin and we're beginning to get rewarded for the loyalty, yet this is just the start. Bitcoin has a very long road ahead over the next 12 months, where the price could begin pushing closer to $150,000. Funny enough, most Bitcoin Proxies the fund holds aren't even beginning to show there extreme movements, only up a measly 30%-70% with the $100,000 Bitcoin. The Fund is incredibly excited to continue watching Bitcoin over the next few months and anticipates when some of our Bitcoin Proxies like Miners are really going to become active with more Bitcoin price movements. Regardless, congratulations to every Bitcoin and Crypto community member in the world, a much deserved win for a very loyal, outspoken, and intelligent community!
Bitdeer Technologies (BTDR)
The Funds most successful purchase to date has been BTDR up over 170%. Bitdeer really is a special company the consistently remains undervalued and under recognized. If that's because of region of domicile with BTDR being the only Bitcoin Miner based in Singapore, the lack of understanding around the companies future exa-hash plans, or not enough people being knowledgeable about ASICs and Bitcoin mining software. Regardless, many will continue missing out on the long-term potential of BTDR. The company remains incredibly hard to understand, but deservedly so, the most diverse Bitcoin Miner with multiple different revenue segments and the only company in the industry with focus into R&D. Bitdeer Technologies will remain incredibly misunderstood throughout this cycle, but those who push themselves to research the company, its management, and future plans will be pleasantly surprised with the dark horse pick of the Bitcoin Mining industry.
Sofi Technologies (SOFI)
The original investment thesis behind SOFI was tailwinds of rate cuts, and this thesis worked perfectly. SOFI shares are now up over 120% from the funds original purchase and the company is just beginning to stretch its legs out with over 10 million members. SOFI will continue to reap tailwinds from the continued FED interest rate cuts, all while showing a continued expertise in the loan market and more loan originations. SOFI is set to continue having a strong 2025 as more FED interest rate cuts are expected, and the company will continue growing its overall member base.
MicroStrategy (MSTR)
Yesterday on December 5th, 2024, The Fund uploaded it's 7th Holding Report for MicroStrategy in honor of a $100,000 Bitcoin. MSTR has been on a rampage over the past 2 months, with CEO Michael Saylor raising over $10 Billion dollars for more Bitcoin purchases. Michael Saylor has continued to show extreme expertise in raising capital for Bitcoin purchases, currently on pace to complete all of the 2027 capital goals, by the end of 2025. MSTR will continue acquiring as much Bitcoin as possible and grow there war chest as large as possible. Since investing in the company, the funds shares have experienced over 100% gains, yet MSTR has such a long path of growth to continue on. As long as the company continues acquiring Bitcoin and holding onto it over the long-term all MSTR shareholders should be very very happy.
December 6th 2024 Holdings
Today's Top #1: Bitcoin sudden drop to $93K wipes out $303M of longs within minutes
tldr; A sudden drop in Bitcoin's price on December 5 led to the liquidation of $303 million in long positions as the price fell 5.47% within minutes, briefly dipping below $93,000. The price quickly rebounded to $96,410. This sharp decline resulted in total liquidations of $404 million over 24 hours. Analysts suggest this may mark the end of a market 'flush,' with potential for further decline if investors are spooked. The event followed Bitcoin reaching a new all-time high of $104,000, indicating a possible consolidation phase ahead.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Thursday, December 5, 2024
WABA Network: Smarter Energy Use for Bigger Bitcoin Mining Profits
What is WABA Network?
WABA Network is a platform that helps Bitcoin miners—and anyone with high energy use—lower electricity costs, boost profits, and even earn income from selling excess energy. By timing and controlling when devices draw power, WABA makes it easy to mine more efficiently and reduce waste.
How Does It Work?
WABA Network lets anyone initiate “demand response” events without any pressure. By visiting the platform, you can request that other users either ramp up or cut back their energy usage. In return, those who adjust their consumption get rewarded. It’s a dynamic, crowd-driven approach to balancing the grid that benefits everyone involved.
https://reddit.com/link/1h7tjcb/video/4aoajhhcn55e1/player
Why Use It?
WABA Network addresses the problem of energy peaks and valleys. Instead of always producing more electricity—which is often expensive and strains our infrastructure—the platform encourages people to time their usage wisely. In an era where energy needs are skyrocketing due to AI, crypto mining, and electric vehicles, WABA Network makes load management simpler and more cost-effective.
1. Reduced need for costly infrastructure upgrades
2. Better, more flexible load control accessible to anyone
3. Greater profit opportunities for more participants
How to Participate
To start participating in the WABA Network, simply purchase a WABA Smart Plug. Think of it as a more advanced version of a regular smart plug device—one that not only monitors your energy consumption in real-time but also validates your participation in demand response events. When a demand response request goes out, the WABA Smart Plug will confirm whether you’ve completed the required task (like reducing or increasing energy usage). By fulfilling these requests, you earn rewards, making your energy choices profitable as well as efficient.
How Much Can I Make From This?
WABA Network offers two main ways to earn:
Simply Being Connected:
Once your energy devices are plugged into the WABA Smart Plug and registered on the platform, you start earning tokens passively. Your presence in the network is valuable, so you get rewarded just for being part of the ecosystem.
Participating in Demand Response Events:
When the WABA Network calls for adjustments—like reducing or increasing your device usage—you can choose to take part. Fulfilling these requests can earn you additional tokens, boosting your overall earnings.
Looking Ahead
In the future, we plan to introduce even more features to help you maximize profits. Stay tuned for new options and opportunities that will make WABA Network participation even more rewarding.
For Small-Scale or Aspiring Bitcoin Miners
Joining the WABA Network can be a simple and effective way to boost your profits:
Earn More with Minimal Extra Cost:
Bitcoin mining already consumes a significant amount of electricity. By joining WABA, you can mine both Bitcoin and earn WABA tokens at the same time, using the same energy. This means you add another income stream without notably increasing your costs.
Flexible Response to Electricity Prices:
Your Bitcoin mining profits depend heavily on electricity rates. When prices spike, you can pause your mining operation and participate in WABA’s demand response events. This move earns you rewards for helping stabilize the grid, turning what would have been downtime into an additional revenue source.
Growing Demand from Energy Providers:
As city grids face higher energy loads, utilities are actively seeking participants to adjust their consumption. By being part of the WABA Network, you’ll be well-positioned to take advantage of these opportunities and potentially earn even more from events designed to manage and balance energy demand.
In a Nutshell
WABA Network transforms how you use energy, turning what used to be a cost drain into a source of income and efficiency. For Bitcoin miners, it means higher profits and better margins. For all energy users, it means smarter electricity use and potentially lower bills. It’s a win for your wallet and for the power grid, all managed through a convenient, user-friendly platform.
IBW2024: Regulatory Clarity, Security Risks, and Tax Reforms Dominate Discussions
🚨 Crypto News: India Blockchain Week 2024 lit up Bengaluru with global crypto minds flocking to the country’s tech hub on December 4th-5th. Organized by venture capital firm Hashed Emergent, the event tackled some hard-hitting topics, from India’s potential as a Web3 leader to the pressing need for tailored regulations.
VC interest in India’s blockchain ecosystem is brewing again, but regulatory clarity remains the missing puzzle piece. Industry voices highlighted the hurdles posed by steep taxes—a 30% tax on crypto gains and 1% TDS on every transaction—as well as outdated policies that make innovation a headache. Developers and exchanges are calling for a friendlier ecosystem to unleash the true potential of Web3 in India.
The conference also saw conversations around DeFi, blockchain advancements, and the future of decentralized finance. Meanwhile, security concerns took center stage after the WazirX hack, which left many Indian traders lamenting their missed chance as Bitcoin crushed past $100K during the event. With funds frozen, some users felt they not only lost money but also their hard-earned moment in the rally.
India’s Web3 future hinges on finding the right balance between innovation, security, and regulation. Will 2024 be the year India sets the stage for a crypto revolution?
CryptoNews #Web3India #BTC
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