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Topic: Who else is putting their Stimulus into Bitcoin? - page 2. (Read 506 times)

mk4
legendary
Activity: 2786
Merit: 3845
Paldo.io 🤖
If one did, would it be a good idea to be constantly advertising that fact? What if authorities crack down? It's supposed to be stimulus and not take the money and stash it in your own monetary system-ulus.

One could see what we're allegedly doing as immoral. I don't see it that way. Just playing devil's advocate.
At this stage, knowing that the people who buy bitcoin are still a huge minority, you're probably overthinking it a bit. Gonna give it to ya though, sometimes it's good being paranoid. Use the money to buy bitcoin(assuming you don't need money for basic needs) on no-KYC peer-to-peer exchanges so the government doesn't know about your bitcoin purchase.

At this time of year is not a good timing to buy a bitcoin because the prices are running high. I understand that the 600$ is not a lot but I do not see the profit because this run will not be going on forever. I hope that you can get your profit even at this ATH in the bitcoin prices.
To be fair, people have been saying the same since when we were at around the $15k-$20k range. 🤷‍♂️ The fact is, it's pretty difficult to time the market, so just continue stacking sats if you actually believe that bitcoin rises in price in the long-term.
legendary
Activity: 2576
Merit: 1860
Do i need to ask why you didnt?  BTC

Because people are in different situations. Lucky for you, you didn't need that stimulus as much as others that you can invest it somewhere else. But to the rest of the beneficiaries who have lost jobs, business, apartments, and whatnots due to the pandemic will have no other choice but to spend that free money on more basic stuff.

But in terms of putting money into Bitcoin, it shouldn't just be your stimulus. It should include a portion of your savings, salary, income from other sources, and so on. Bitcoin is like wine; it gets better as it ages. Money rots over time.
legendary
Activity: 2954
Merit: 2145
Stimulus was created for broke people. The government doesn't want to check everyone if they really need money or not, it's easier for them to just give money to everyone - and even if they give it to people are doing well financially, they hope that they money will return back to the economy.

Just like with the last time, the number of people who will use their stimulus money to buy Bitcoin will be negligible - most people will use it to deal with their immediate necessities. Also, retail investors are still not jumping the Bitcoin train. No reason to expect that stimulus checks will change anything on this market.
sr. member
Activity: 1624
Merit: 315
Leading Crypto Sports Betting & Casino Platform
At this time of year is not a good timing to buy a bitcoin because the prices are running high. I understand that the 600$ is not a lot but I do not see the profit because this run will not be going on forever. I hope that you can get your profit even at this ATH in the bitcoin prices. On the other hand, that amount could have helped you subsidize your expenses in goods for daily needs.
legendary
Activity: 1652
Merit: 1483
If one did, would it be a good idea to be constantly advertising that fact? What if authorities crack down? It's supposed to be stimulus and not take the money and stash it in your own monetary system-ulus.

i'm sure the government hopes people spend the money on consumer goods and services. that's the whole point of direct stimulus---to stimulate the consumer economy, not to stimulate the hoarding of investment assets or cash.

still, there are no restrictions on what people can spend their stimulus checks on, so why would it matter? there's nothing illegal happening here.

in my case, $600 isn't worth that much thought---that's ~0.02 BTC. shrug. i have no specific plans for it.
hero member
Activity: 1493
Merit: 763
Life is a taxable event
I KNOW I AM! Food for thought - the first Stimulus $1,200 if put into Bitcoin is now worth $4,146 Do i need to ask why you didnt?  BTC

If one did, would it be a good idea to be constantly advertising that fact? What if authorities crack down? It's supposed to be stimulus and not take the money and stash it in your own monetary system-ulus.

One could see what we're allegedly doing as immoral. I don't see it that way. Just playing devil's advocate.
newbie
Activity: 25
Merit: 0
I KNOW I AM! Food for thought - the first Stimulus $1,200 if put into Bitcoin is now worth $4,146 Do i need to ask why you didnt?  BTC
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