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The BTC thread: When you need some answers, love, advice, or friendship......come here.

Discussion in 'The Kruse Longevity Center' started by Jack Kruse, Jan 3, 2021.

  1. Jack Kruse

    Jack Kruse Administrator

    because the system was designed this way.
     
    GavinH and JanSz like this.
  2. Brains Trust - help required please.

    Thanks to @Jack Kruse we understand how and why the fiat system is collapsing.

    For any non USD holding person, ie the rest of the world, we know that the fiat dollar is worthless, how are you working around the conversion? I see today the Euro has hit a lowest price since 2002. AUD is trading at 62 cents against the USD.

    I need some left of centre suggestions/ideas on how to circumvent the shitty exchange rate.

    So a $50kAUD exchange dismally gives $37kUSD - that is insane that for every $100k you would lose over a quarter of your value - yes i understand the why and everything Jack has taught however, given we must travel to the US and Central America asap (leaving Oz Oct.9) what would anyone else theoretically do to stop the haemorrhaging here?

    Could a peer to peer situation work here - Jack can i send you btc for your shitty fiat that i need to spend for a better exchange rate?

    Any suggestions welcome, TIA.
     
    JanSz likes this.
  3. caroline

    caroline Moderator

    can't wait for suggestions ^^^^^

    We are going down the gurgler here.........
     
    Laudy Cincotta likes this.
  4. JanSz

    JanSz Gold

    means $100k became $75k
    not so bad comparing to below:

    $1000 in GBTC on 12/7/2020 on 9/24/2022 it is 534
    $1000 in SPY on 12/7/2020 on 9/24/2022 it is 1012
    $1000 in GBTC on 1/7/2021 on 9/24/2022 it is 319

    .... HODL

    ...
     
    Laudy Cincotta likes this.
  5. I've just had a car accident claim settle and I'll have the funds to buy some bitcoin (and to also go somewhere south this winter for a few weeks). Does it make more sense to buy 1 bitcoin in one transaction or to take advantage of dollar cost averaging and purchase it over a number of transactions weekly or monthly?

    Now that I'm able to purchase some bitcoin, I'll be going back to the beginning of this thread and playing catch up (although reading and brain fog are a bit of an issue for me) but thought the answer to the above question would be helpful now as I plunge into learning all things bitcoin!
     
    Last edited: Sep 24, 2022
    JanSz and Laudy Cincotta like this.

  6. I know, i now am aware of what you have been saying and knew this would apply to you too.

    It really will affect all of us trying or needing to convert to USD....
     
    JanSz likes this.

  7. Yes HODL'ing my BTC but need money to spend in your part of the world......so sad i could be putting more into bitcoin than having it disappear into thin air!
     
    JanSz and caroline like this.

  8. Thats awesome @Kari Dunlop, so happy for you that you get to buy bitcoin.

    I probably am not the most experienced here and am sure the other more experienced guys will tell you how to best manage.........only my thoughts here but at this price i would assume it would be worth buying a whole coin before it goes back up and then DCA with a few dollars every week if you can manage more.

    But wait till the others confirm if that is the best way forward, either way I am really pleased for you, x
     
    GavinH and JanSz like this.
  9. Jack Kruse

    Jack Kruse Administrator

    I'd wait until the election in the US to see what happens with Fx and credit markets. I just did a CH room on this very topic today.
     
  10. JanSz

    JanSz Gold

    The 2022 United States elections will be held on Tuesday, November 8, 2022.

    Historically, American markets tend to go up in the fourth quarter.

    on average, the October-December period has treated investors either well or very well.
    ...
    The Remarkable History Of 4th Quarters In The Stock Market (forbes.com)

    ----
    crash of 1987, which did occur in the fourth quarter (October), which produced a 23.3% return in that year’s final three months.
    ..........

    But what will the B do?
    Somehow, it is hard to see correlation between SPY and B.

    upload_2022-9-25_10-43-51.png
    ...
     
    Last edited: Sep 25, 2022
    Kari Dunlop likes this.
  11. Are you saying to wait on exchanging currency, buying BTC or both? Thanks.
     
    JanSz likes this.
  12. Kari Dunlop likes this.

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