Crypto-trading thread

1,369,149 Views | 11919 Replies | Last: 4 days ago by @NFLPlayerProps
Heineken-Ashi
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jamey said:

Heineken-Ashi said:

Man, Tom Lee has been dead wrong almost every time he opens his mouth. I think BMNR is going to get obliterated and yall need to be super careful here.


Do you think Ethereum will not be adopted by institutions, or that valuation of eth just won't go up even of its adopted?

I don't know. But it's one of the ugliest looking charts I've ever seen. It's being pumped by a permabull who needs need buyer for exit liquidity. All in a crypto bear market.
jamey
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AG
He's still buying every week so I dont think he's looking for exit liquidity
Yukon Cornelius
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AG
He's not selling. He's buying and staking, and staking prevents future selling because of unstaking Que times. With due respect I think your dislike for Tom is clouding your judgement on what's going on fundamentally with ETH and BMNR
jamey
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AG
Yukon Cornelius said:

Yukon Cornelius said:

What I assume is the play is for BMNR to become the defacto validator for all institutions. Typically if you make a transaction on ethereum you submit the transaction and broadcast it to all the miners with a fee. The fee is determined by current market rate. A miner/validator will then submit/run your transaction in the blockchain for the fee.

What happens is if transactions volume is up fees can be outdated by the time you set it and broadcast it. Which then miners don't run your transaction etc.

Plus it creates unpredictability for the fee etc.

So what I suspect BMNR will do is offer a pre agreed upon fee with institutions independent of the market fee rate.

The institutions will have their own dedicated validator with consistent pricing. BMNR will have consistent volume.

It's a win win and BMNR will bank.



I hypothesized this back in November. Tom Lee announced a subsidiary that will do this.

In this presentation he mentions also with this subsidiary running……. Canton validators.





Got a link to that presentation
Yukon Cornelius
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AG




https://youtube.com/@bitmnr?si=Gp2Rjdj0pjdWWb1R

Idk why the video won't link properly. Here's the channel. It's the latest one. 15 minutes
RosecityAg
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AG
Bought ETH, SOL, and Canton today. I've seen some commentary about how these are good DCA levels and I don't disagree, but I just feel like I'm buying two years of pain…
Yukon Cornelius
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AG
It's possible but for me these are long term plays. 5-10-15 year holds.
Yukon Cornelius
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AG
PSA: Just got done doing my 2025 crypto taxes... Coinbase and other exchanges are sending out a new form called 1099DA. Digital asset form of 1099s. But they are sending copies to the IRS with ZERO COST BASIS. Everyone will have to file or your accountant with the IRS updating your cost basis on your trades etc other you will be massively over paying in taxes.
flashplayer
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AG
Yukon Cornelius said:

PSA: Just got done doing my 2025 crypto taxes... Coinbase and other exchanges are sending out a new form called 1099DA. Digital asset form of 1099s. But they are sending copies to the IRS with ZERO COST BASIS. Everyone will have to file or your accountant with the IRS updating your cost basis on your trades etc other you will be massively over paying in taxes.

Mine shows my accurate cost basis.
Yukon Cornelius
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AG
That's good. Mine was blank
jamey
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AG
Yukon Cornelius said:

PSA: Just got done doing my 2025 crypto taxes... Coinbase and other exchanges are sending out a new form called 1099DA. Digital asset form of 1099s. But they are sending copies to the IRS with ZERO COST BASIS. Everyone will have to file or your accountant with the IRS updating your cost basis on your trades etc other you will be massively over paying in taxes.


Coinbase seems to to have a lot of clownshow tendencies
Yukon Cornelius
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AG
Ya. They are terrible at customer service
MaroonStain
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AG
Koinly tied in with Kracken did a great job! Every transaction listed and totals correct for 2025.
MaroonStain
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I'm off continued purchases of ETH, SUI, UNI and ADA (please dont throw shade; I am full).

May increase bag on CC and KAS.
TxAG#2011
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Yukon Cornelius said:

PSA: Just got done doing my 2025 crypto taxes... Coinbase and other exchanges are sending out a new form called 1099DA. Digital asset form of 1099s. But they are sending copies to the IRS with ZERO COST BASIS. Everyone will have to file or your accountant with the IRS updating your cost basis on your trades etc other you will be massively over paying in taxes.

They addressed that on a twitter post a few days, apparently the IRS is requiring them to do that.
@NFLPlayerProps
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When you've been buying for a decade on multiple exchanges with shoddy record keeping and the IRS wants your cost basis



Yukon Cornelius
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AG
They default to zero lol
@NFLPlayerProps
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Yes I'm aware. I'm pretty sure I can F around with Excel and create a non-zero basis. Are they going to be able to audit what I bought on cryptopia.com in 2018?
Yukon Cornelius
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AG
Lmao I doubt it
Yukon Cornelius
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AG
Ya that's what I read. Figured it was the same for everyone. Guess some have their cost basis reported
jamey
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AG
How does Crypto react to aliens


Yukon Cornelius
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AG
Dump haha. Good news it dumps. Bad news it dumps. Alien news it dumps.
jamey
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AG
Yukon Cornelius
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AG
Ripple is such a blight lol, the only "crypto" group that is on the banks side
jamey
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AG
jamey
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AG
Its hard to know what it means for stablecoins when thr fed says no use and Bessent in the treasury thinks its a good way to sell treasuries

They may want to get on the same page
Yukon Cornelius
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AG
Federal government needs more treasury buyers.
Yukon Cornelius
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AG
Break out soon?
Yukon Cornelius
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AG


Highlights massive institutional buying of BMNR
jamey
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AG
Crypto does not appear to to like Cartel leaders being killed, 15 percent global tarrifs, potential strikes on Iran or the AI sell-off.


Could be something else

BTC down about 5%
Yukon Cornelius
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AG
Looks to breaking down out of the wedge or whatever. Maybe it's a fake out, seems to be relatively low volume.
Yukon Cornelius
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AG
My skeptical brain suspects btc is getting dumped to suppress eth and others. Record low eth and exchanges, record high staked eth, record length of staking Que for more to be added, BMNR alone is buying 40k eth a week. It dumps.
jamey
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AG
I've been buying bmnr and will continue to buy it and a little IBIT as it falls.

Id like to see it fall a little more before I start buying again
Yukon Cornelius
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AG
same. The fundamentals for ETH have never been better. I think its getting drug down by btc at the moment.
jamey
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AG
I sold some of my higher priced lots of IBIT for a loss because I wanted more bmnr, plus I thought I'd have a good chance to buy IBIT back cheaper anyway.
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