Bitcoin and Crypto Talk (Merged)(includes NFT) (3 Viewers)

[itztime]

Heard a rumor today that with any shiba sold right now, they will burn 10% of those coins. I have no clue how it all works or if it’s true. Only thing I know is I got in early and got 100 million shares for $1500. Hoping this continues to go up

Dude you can almost get a big boat and get some big women to go along with it!

 

[A Saints Life]

Dude you can almost get a big boat and get some big women to go along with it!

Wife might like the boat, not sure about the women . I’m not gonna get greedy though, gonna get out at the right time. Long way to go for a big boat though

 

[HburgSaints]

I am so pissed at coinbase right now. Right before they went offline, I was having connectivity issues, but it would still load my portfolio. All of a sudden, the Shiba price started tanking. It went way below what the actual price was at the time, so I sold to avoid going below my entry value. Well come to find out, the price never actually got to what the coinbase app said it did, so not only did I lose cash based on a fictional price, but I lost my Shiba shares that I was holding because of inaccurate data. I submitted a ticket to their support team to see what can be done, but honestly I'm not holding my breath. I did say that if it's not resolved, I'm pulling my funds and going elsewhere.

 

[superchuck500]

Cam

 

[superchuck500]

I think my Shiba exit strategy is going to be to convert to BTC. If Shib pulls back to 650 I’m going to trade half for Bitcoin, especially if BTC keeps creeping back.

 

[superchuck500]

Shiba’s market cap now exceeds Doge.

SHIB overtakes DOGE as rival memecoin surpasses market capitalization

A steep climb in the price of the meme cryptocurrency Shiba Inu (SHIB) has pushed its market capitalization beyond that of dogecoin.

www.theblockcrypto.com

 

[Tapxe]

Someone bought $3,400 worth of SHIB last August. It’s now worth $1.55 billion

The unknown hodler has purchased SHIB on 44 different occasions since August 2020, with their holdings now worth around $5.7 billion.

cointelegraph.com

 

[DaveXA]

Someone bought $3,400 worth of SHIB last August. It’s now worth $1.55 billion

The unknown hodler has purchased SHIB on 44 different occasions since August 2020, with their holdings now worth around $5.7 billion.

cointelegraph.com

So...I guess the question I have is will he get all of that when it comes time to sell? The taxes on that will be sick lol. The guy's total holdings is worth over $5b at today's prices. With total market cap of $40b, if he decides to sell, would that even be possible?

 

[Mr. Blue Sky]

So...I guess the question I have is will he get all of that when it comes time to sell? The taxes on that will be sick lol. The guy's total holdings is worth over $5b at today's prices. With total market cap of $40b, if he decides to sell, would that even be possible?

I would say it better be possible… i mean, if he/she goes to sell and cant, then that would throw the entire crypto world into disarray.. if you can’t research , speculate, buy and sell as you please then what’s the point of all this ??

 

[DaveXA]

I would say it better be possible… i mean, if he/she goes to sell and cant, then that would throw the entire crypto world into disarray.. if you can’t research , speculate, buy and sell as you please then what’s the point of all this ??

I agree, but in terms of crypto, has anyone ever tried to sell and cash out of that much all at once? I just wonder if there's enough liquidity to allow him to cash out the $5b. Theoretically, it should be possible, but practically? .

 

[Mr. Blue Sky]

I agree, but in terms of crypto, has anyone ever tried to sell and cash out of that much all at once? I just wonder if there's enough liquidity to allow him to cash out the $5b. Theoretically, it should be possible, but practically? .

Again, im not saying there arent question marks around it.. im saying IF they go to cash out and cant, then the whole thing comes crashing down overnight.

 

[WhoDatPhan78]

Crypto has more pyramids than Giza

 

[superchuck500]

I agree, but in terms of crypto, has anyone ever tried to sell and cash out of that much all at once? I just wonder if there's enough liquidity to allow him to cash out the $5b. Theoretically, it should be possible, but practically? .

According to Coinbase, more than $44B in Shiba has traded in the past 24 hours in terms of volume. But that doesn’t mean that selling $5B worth is possible. But usually large holdings of any market traded asset are liquidated (or acquired) in tranches. It may take days or even weeks.

 

[Mr. Blue Sky]

. It may take days or even weeks.

Right.. it would take a while , but at least they could sell their shares and make their money.

 

[DaveXA]

Again, im not saying there arent question marks around it.. im saying IF they go to cash out and cant, then the whole thing comes crashing down overnight.

I think what would ultimately happen is they would have to break it up into a number of sell orders and spread the transaction over a period of time. In order to sell, you have to have a buyer on the other side of the transaction. Stocks are only worth as much as the next person is willing to pay for it. When you have an extremely large number of shares like this guy has, it's typically going to take time to get the sell order filled.

Lol, Chuck bear me to it.