Topic: WSB Style Best Bitcoin Related Stock Picks for 2024 (Read 148 times)

Actually, I just remembered that a Roth IRA can work up to 20 million if I recall correctly tax free if done correctly, I remember that example because Peter Thiel got away with 5 Billion in it with PayPal. That's right 5 BILLION DOLLARS!!! So a few multimillionaires with Tax Free Investment returns with no cap gains per trade on options or a good stock bet is uncommon but it does happen regularly enough to be mentioned.

If you want to play the game you can ask the bank for a cheap low interest loan using that same Roth IRA as a collateral they will get back

https://www.propublica.org/article/lord-of-the-roths-how-tech-mogul-peter-thiel-turned-a-retirement-account-for-the-middle-class-into-a-5-billion-dollar-tax-free-piggy-bank

https://www.cnbc.com/2021/09/17/house-tax-bill-would-likely-force-peter-thiel-to-pull-5-billion-from-his-ira.html#:~:text=Thiel%2C%20a%20PayPal%20co%2Dfounder,than%20%242%2C000%20two%20decades%20earlier.

I love this video it's terrible in a beautiful kind of way
https://www.youtube.com/watch?v=vW_pYFJkGBE

The number of taxpayers with IRAs over $5 million tripled to roughly 28,600 from 2011 to 2019, according to a recent analysis by the Joint Committee on Taxation, the congressional tax scorekeeper.

They account for less than one-tenth of 1% of the roughly 70 million taxpayers with a traditional (pretax) or Roth IRA, according to IRS statistics.

However, the super-rich aren’t necessarily the only ones with multimillion-dollar accounts — especially after the bull market for stocks coming out of the Great Recession.

“It’s not just people like Peter Thiel,” according to Beth Shapiro Kaufman, an estate planner at the law firm Caplin & Drysdale. “I see professionals who have amounts that could be into the two digits of millions, because the period of their working life was a phenomenal period in the stock market.”

However, most people should be able to live comfortably on $10 million in retirement savings, she added.


I agree with you Franky on All that, I know Bitcoin was and is the Foundational Coin always has been ha-ha but it took years to get to this point where its being formally recognized as it.

Casascius coins were a thing after all and are still quite the collectible before they were made illegal to produce haha.
Now we only have a blank industry you know no coins included.
https://news.bitcoin.com/regulations-have-ruined-the-physical-bitcoin-industry/

So your right on that classic memories came up.

Your also right there are the services where you can earn Bitcoin rewards with your purchases or as a cashback a good example of that in Canada is Shakepay etc.

Or selling Honey for Btc the classic example being the good old Bees Brothers remember that Franky haha got some oldies indeed.
http://www.beesbros.com/bitcoin-store.html

None the less most people ran to the altcoin market for that as Lightning pick up was slow and people felt it was not worth it per se to invest in it that way. Throwing it into Solana contracts or Ethereum as we were fighting the 1 MB debate on our chain. (Before Ordinals came in) So we are the laggards there sure but that doesn't mean we had to take in everything either.

I remember back in the early days people used to get paid in Bitcoin to write articles for Bitcoin services, now its almost all going to stock shares in a company etc. Although your right there are still jobs that pay people in Bitcoin instead of Fiat currency or what currency they choose.

I ran off to Steemit myself during that period with a few others as a side project since well like Hive works and paid you for your posts simple enough, of course we have Sig campaigns here but the point is that it was an altcoin and there are likely a multitude of others now that do the same thing so its not a significantly unique use case anymore.

The reason the Bitcoin market is interesting now is 100% because they are planning to make an ETF so they can put it into a Pension Plan as a diversified investment. When you got Trillions of Dollars waiting for an approved entry point its real money that is on the sidelines waiting to be handled.

I mean the Ontario Pension Plan invested in FTX a bit as well got burned and all that and that caused quite the Grudge under Trudeau but that's one thing on the side. This is another.
https://fortune.com/2022/11/10/canadian-teachers-could-have-95-million-hole-pensions-ftx-crypto-implosion/

BTC is at that stage where it doesn't need to prove itself, its getting close to traditional finance and the entry ramp into crypto as people start moving it mainstream using our classic adoption curve if the ETF is approved its more less the early majority to late majority as the Old money gets in with a way to do it legally without their funds getting in trouble.

On to the Altcoin part

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Well the altcoin market is never dead, its just growing in different ways too, I mean when we literally have a Bitcoin Season and Altcoin Season index and we have to at least acknowledge they both earned some respect rofl. On a sidenote ORDIS on Fire man

Ha-ha but that's an internal debate of if its a shitcoin or just a natural extension of an altcoin derived from Bitcoin or just Bitcoin originally.
I'm not getting into that right now Luke would have a great time on that topic haha.
https://www.blockchaincenter.net/en/altcoin-season-index/

https://coinmarketcap.com/currencies/ordi/#About

However the altcoin community is not completely dead.
we will see networks appear that archive tokens that represent things such as:
imagine you had a token for a song. owning this token then allows you signing access to play that song on multiple platforms without having to buy the song on different platforms each time you want to play the song

Already exists Rising Star part of the Hive Network set of projects
https://risingstargame.com/

It's one of those types that just needs scaling and likely exists in different versions just not one major one has gained traction yet but we will see it's similar to Mogul Productions for Example in the Film Industry.

De-Fi funded movies with a celebrity access token to private events funded by Mogul Productions for their premiers.

That said the idea really never intrigued me as I was not that interested in private events with some celebrities after a movie premier but it exists and some people like it, and love the idea of a decentralized platform to create the movies they want with other likeminded people to fund them without Hollywood telling us what to watch. It's decentralized movie creation with potential income creation and that's why I like it personally.

Even got some cool creators into projects to like the Stan Lee collection with Rob Prior that came with a physical and digital edition copy that was pretty neat actually so projects like that definitely have a place and should exist.
https://my.mogulproductions.com/platform/collection/0x1a0563346492b8091c7bcdb74788ac0ab3c427d8
https://mogulproductions.gitbook.io/mogul-productions/

What you learn in the Futurist Conferences can be fun and entertaining the Altcoin market can be an interesting space, if you know where to look for it sometimes .

Going down the list, there will be new concepts and designs that will make consumers appreciate crypto more and make it commonplace.

Indeed they exist like the ones I mentioned your Pokemon VR is another good example its hard to keep up with the true cryptofeed now so much is going on in the space, people only get snapshots. Kind of why I came back 180 days or so prior to halving to relearn and update my interface like an AI Beep Beep that's right haha.

I recall that project existed a few years back to maybe it's a new rehash, Coinhuntworld was similar to that only there you earn Bitcoins for walking around and opening vaults. That said I also oh I remember now Futurist did that too where you would walk around the event conference and as you scanned objects you would claim them for food and drinks as prizes. Looking at it now it seems so retro for me but for others its new and I like it haha.

I'll show you what I mean this was the event they pulled off it was neat.
https://www.youtube.com/watch?v=gclEKqfQ7ts

Can't find the particular game think Untraceable hosted it but they had airdrops all over the conference floor, crypto enabled food trucks for the claimed NFTs you found around the conference venue etc it was a fully integrated side-hustle event to earn your free nachos haha.
Multiple Airdrops of free cryptocurrency available to all conference attendees!
https://www.futuristconference.com/previous-years

They also do something similar to that with Event NFTs if you went to a particular event they grant you an NFT for it and it serves as a memento that you participated and were there and as a digital collectible. If people had those for a culturally impactful event such as Woodstock they could make a market. Similar thing could happen for a Taylor Swift concert in the modern era etc.

Or services like Eukapay that allow merchants instant conversion though that's not really new mean crypto point of sale has existed for years already at this point.

The point is I don't need to lookout for them I already see them existing and they are already there so its more like Get Ready for one of them to scale it up for me at this point haha.

Ah found the Old PR Reel there it is Franky
https://www.businesswire.com/news/home/20230815319245/en/Blockchain-Futurist-Conference-Launches-Today-With-Record-Breaking-Attendance

This year’s conference will again feature Untraceable’s event engagement token called UNNY. The token uses gamification to power the conference’s engagement, and provides exclusive rewards. Attendees are incentivized to visit expo booths and attend speaker sessions among other activities. Last year, thousands of attendees earned UNNY to claim rewards such as access to food stations, front row seats to Vitalik Buterin, and helicopter rides onsite.
https://www.futuristconference.com/media-kit
Guess its call UNNY now if only I could figure out how to throw money at it haha unny.io


On a bonus note think of all the future wash trades as of Feb 2023 rules
Warning: The wash sale rule says you can’t take the tax benefit if you sell a losing investment and buy the same or substantially identical security within 30 days before or after the sale. So, make sure you no longer want that investment or can easily replace it with other investments that fill a similar role in your portfolio.

NOTE: Cryptocurrency and other digital assets are exempt from the wash sale rule.   

“Crypto’s not considered 'securities', so it’s not subject to wash sales,” said Phil Drudy, managing director at consulting company CBIZ MHM’s New York tax department. That means you could have sold crypto at a loss last year to take advantage of the tax benefit, then bought it back immediately at the lower price if you still wanted it in your portfolio, he said.
https://www.usatoday.com/story/money/taxes/2023/02/21/super-rich-tax-strategies-you-can-use/11305150002/

And the future Backdoor IRAs going to be a fun time haha

there are many other ways to earn bitcoins.
sell products and skills for it (although niche market right now) i do see many businesses and freelancers getting paid in crypto and people selling merch in bitcoin
(the guy that designed the metallic bitcoin sold sooo many of them metallic coins. BTC caps, hoodies, initially even alpaca socks and cupcakes )

bitcoin was literally always the foundational coin..
but institutions are recognising that bitcoin remains superior to the flood of altcoins in the last decade.

years ago i used to order fast food delivery paid in btc to people i knew to prove bitcoin had utility. now i just show them how blackrock is investing in bitcoin and spending millions in legal costs to establish itself in bitcoin ETF to show they are interested in hoarding bitcoin for the long term, meaning bitcoin is not a fly by night temporary turn and burn investment.

employers and employees interested in crypto can divert their pension allocations into exposure to bitcoin price via etf where they can pre-tax invest their income in bitcoin price exposure. and if they only make $44k of GAINS they dont have to pay tax on the exit . thus get exposed to bitcoins profit with no income tax and no cap gains tax(within threshold) so you can understand why the institutions want to offer bitcoin exposure.

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however the altcoin community is not completely dead.
we will see networks appear that archive tokens that represent things such as:
imagine you had a token for a song. owning this token then allows you signing access to play that song on multiple platforms without having to buy the song on different platforms each time you want to play the song

current concepts/design of NFT are dead/serve bad purpose. but there will be new concepts and designs that will make consumers appreciate crypto more and make it common
for instance:
everyone knows of pokemon go's AR interface.(where people enter the app and use their camera phone to scan the real world to find digital animals to collect.)
well right now KFC are making an app where you can walk around a town and bump into and collect the colonels head or a chicken drumstick. where these are stored like vouchers/airdrops/loyalty points. and you can trade them with other people on a secondary market (imagine like mcdonalds monopoly sticker thing but digitised into pokemon go)

it ends up being free to advertise to customers instead of leafleting peoples homes mail.
and once people collect the tokens instead of being spammed with emails of other deals when signing up to traditional loyalty subscriptions. the company just gives occasional add-on tokens(vouchers)
imagine collecting 9 drumsticks and able to claim a free bucket of chicken

so things are yet to even flourish for some altcoins yet to be released, so keep an eye in the space of what starbucks, kfc and big brands are doing in their crypto based loyalty systems and if they integrate with any already known altcoins

The naming of this thread is a throwback to one of our OG threads the Wall Observer Board Damn thing is just pure speculation too with 32980 pages and counting so it's good to harken to it as reference as everyone already knows what it is here anyways with the eternal wall observer, and any outsiders to the forums know what WSB is.

For sure though they are a sign of covid and YOLO bets. Not who I would be taking investment advice from your right. RIP AMC stock.
Rofl this one
https://bitcointalksearch.org/topic/the-coming-flash-crash-in-amc-245713
The question more less is the trend here, if Bitcoin is going to go up the corresponding related assets will also be charged and overleveraged so the question is whose bets on what's going up the most, and how will it get there?

This is speculation after all so its a natural fit.


Indeed that's why your a Legendary OG Service man telling it like it is, recalls the days of Havelock and BTCT ha-ha those were the days, the Panama fund and AsicMiner back when Friedcat still wasn't a scammer lol John-K remembers. We were all ThickAsThieves back then.
Sorry went and threw back a bunch of old names in here, even had a TradeFortress Rofl ok that was inputs.io ha-ha.

Your right, Binance is overleveraged, it hurts them as well when they had to get rid of so many users from the multiple countries like Canada after the SBF Scandal. CZ got Long Knives right there slaying SBF and battling the American politicians and their own corporate interests at the time to build an American Dominated Crypto exchange, they both took a lot of mud on both sides in the Scandal when the curtain rug was pulled.

CZ is one of the oldies though so he got away with just paying a fee, that said there are likely a lot of backdoor dealings we don't know about over there so it never hurts to watch out even if its one of the largest central exchanges.

The only real way to earn Bitcoin is to go mining after all or ancient faucets (kidding)... but then I recall there were also all those terrible bitcoin cloud mining investments mumble that's the past ...

At least with the modern regulations were moving to Bitcoin basically being established permanently as the foundational coin of the entire crypto ecosystem, with a relatively low risk ETF Franky, while Altcoins are still shooting it out and Ethereum.

So Progress?

The problem with this is that every single person or entity that has offered a BTC return (except for NastyFans which is the exception that proves the rule) has ended up going bankrupt, being hacked, or just straight up absconding with everyone's money.  This is why I say that Binance is in big trouble to be offering the rates that they're offering in order to get more investors to send them capital.  Yield farms when it comes to crypto don't exist because they are an income source, they exist to protect their income source of irresponsible trading, which requires more capital from users so they raise rates to attract more customers to can gamble with your funds...

Wall street bets is an awful precedent, they are basically trading off memes.  They had some success with outmatching the over shorted weak stocks by buying them regardless, it was impressive to see that dynamic but it doesnt make the underlying business a successful one unfortunately.   Overall as I understand it the losses of the average investor just trading memes and whatever stock is popular at that moment is not good.  Challenging shorts can work for sure , they can spike back up in any case even without a widespread effort to make that occur its a natural risk for short sellers.

Simplywall is useful site, they cannot give you investment advise its just stats and data useful to have.

a bitcoin ETF wont give dividends. but will charge fee's which depreciate holdings over the years. (they take share value off you the longer you hold it(depegging share-sat conversion rate))

dividends are usually given if the share price is under valued to the businesses activities and so when the business profits then the profit gets split as dividends.. a bitcoin ETF just pegs bitcoin spot. where the only deviation is the basket agents(authorised participants) management fee

yes bitcoin ETF can be a bit more tax efficient but the SEC wants all shares to be sold in-cash and not traded in-kind/like for like, for other assets
so normal investors with basic portfolio's will still need to pay cap gains per trade

Qualcomm I can see making sense for people as its usually a background player, TSMC is Taiwan Semiconductor can't go wrong with that as they build the most advanced fabs in the world and it's basically what powers Apple, it's danger zone is getting attacked by China and causing a Global supply chain crisis, well we had covid already but that aside look out. Intel is Intel (plays the beeping music) As for the others ya looks like that yahoo forecast is overstating the upside on AMD compared to Nvidia, given the coloring you have. While Broadcom at that price looks due for a liquidity stock split to be honest $1000 a share is a little rich for most unless they buy partial shares like Robinhood.


Leverage Plays, It's similar to running margin on Poloniex or Binance you can get burned pretty bad, but the stock market has a similar thing with Options so if you think a crypto stock is due for a run in general you can play an option and multiply it by 100X essentially using a call as it covers 100 shares of the underlying stock.
https://www.bankrate.com/investing/what-are-call-options-learn-basics-buying-selling/#:~:text=One%20option%20is%20called%20a,pay%20to%20own%20the%20contract.

So for fun using that Marathon example a 100 shares of a call option for Marathon Digital was .16 cents on September 26, 2023 for a call option with an expiration date set in March 2024
That call option is now worth 4.50 if you had 100 options at .16 cents a share and spent 16 dollars a contract
100 contracts would have cost you $1600 USD
Those contracts now are worth today $45,000 and they are still out of the money and can expire worthless as Marathon is only worth $25 USD when I am posting this. (45,000/1600) So 28.125 X the price you put in minus a few bucks for option fees.

Assuming we see a true crypto rally soon, then the time value of 4.50 makes sense as the market presumes Marathon can go up to $34.50 a share by March only a 9.50 Increase from here. So simply illustrating how small gains can be exponential, I consider bitcoin related stocks a safer leverage play as Bitcoin is the underlying asset than say a meme coin like PEPE or something. Though those can have crazy rallies too.
https://finance.yahoo.com/quote/MARA240315C00030000?p=MARA240315C00030000

It's mainly just to separate your crypto holdings which can be a pain to liquidate and execute from your Fiat currencies by leveraging simple tax free products like a Roth IRA or TFSA. If you think its going to go crazy in crypto throwing a few long contracts for 2025 at Bitcoin related stocks in the traditional market is a good way to increase your Fiat side without putting your Bitcoin side at risk. While keeping your taxes lower than having to file additional liquidation notices to the Fed/CRA that you sold for fiat.

I agree with OGNasty though it doesn't kick in any actual income until you sell, unless you trust a Defi Yield farm liquidity pool or a Centralized exchange to hold your crypto and give you a small % of yield to invest in which you then need to cash to fiat.
At which point may as well just throw it into USDT/C and get a higher yield on a CEX exchange if you think they won't run away on you. Or go get a solid dividend investment.

That said if your going to convert to a Yield investment for a passive income, would say leveraging a Bitcoin share and then taking the profits and throwing it into something like a Diversified Royalty Stock or a UAN (fertilizer stock) would also be a good play in traditional finance.
https://money.tmx.com/en/quote/DIV
https://simplywall.st/stocks/us/materials/nyse-uan/cvr-partners

As long as we are basing this on the simple assumption Bitcoin is due for a mega rally and that the stock prices now are severely undervalued to where they will be in a year. Then this play will be quite profitable even at the current prices with a long enough expiry date set out.

We haven't even reached the top 100 days of Bitcoin yet haven't even had to necromancer a human to update that chart haha
https://bitcointalksearch.org/topic/m.58617278

Bitcoin is pretty volatile and doesn't kick off any actual income, so if you invest in Bitcoin only then you will forever be reducing the amount of BTC you own.  Whereas with stocks you can build a portfolio that can generate dividend income so that you can live off the dividends while not having to reduce your ownership stake in the company.  This is why I think stocks are arguably even more important that Bitcoin for your investment portfolio as they represent a sustainable form of income, whereas Bitcoin is a speculative investment.  That being said, as someone who owns Bitcoin directly, there isn't much reason for me to own Bitcoin stocks, as that would go against my diversification plan.

I believe that stocks are quite foreign to me, I am a bitcoin investor so why would I need stocks at all, doesn't really mean anything to me and I should be considering that as secondary type of investment and nothing good. I get that some people still do invest into them, but that doesn't mean I have to as well, I believe that we are going to end up with losing some money and even time with them.

I think it is much better if we keep on investing directly bitcoin itself, which means I will be making some good money. I hope that we could be considering bitcoin as the future of investment world, everyone all around the world should get into it, there is nothing shady about it's price, and it is as honest of an asset as it gets.

broadcom L:460 H:1129  C: 1116 = 98%
Nvidia L:112 H:492  C: 478 = 97%
AMD L:55 H:155  C: 135 = 85%
intel L:25 H:68  C: 46 = 48%
TSMC L:62 H:140  C: 100 = 48%
qualcomm L:103 H:188  C: 136 = 38%

once rainbow scaling current position of market history vs current position
then research into the best 3 options of lowest current price and look at which one has more practical/real world utility positives whereby there is more product demand upside and least legal/debt/bureaucratic downside

Hot damn those are some nice charts Franky

I just threw those as examples if people had better choices they are free to throw them up, that said QBTC is just a closed end fund, essentially a Bitcoin Trust strongly tied to the bitcoin price so it follows Bitcoin a bit less effectively than an ETF but it's relatively close.
So if its at the highest with the most downside, then that is signaling its overbought at this point in the game.
Given the bullish sentiment that could instantly turn bearish on the delay of the Bitcoin ETF's it makes sense it would be the leader in being pre-pumped while the other stocks are laggards by comparison. (Could also go bearish on the sell the news situation) Or be a don't fight the trend your playing with fire trade.

Going off our good old bitcointalk rainbowcharts we were sitting in light blue (buy) for a good year or two now and moved up to Green (accumulate) and are almost touching the next shade of green (still cheap) It's a decent run up. Whether its a pre halving movement or a blip before the traditional halving rally is what we are waiting for. At this point though if we go back to an orange or red zone touch were looking at BTC in the $82000-$182,000 range roughly following old trends so its still a sexy enough trade.
https://www.blockchaincenter.net/en/bitcoin-rainbow-chart/

For Hive Blockchain though, honestly it makes sense to me looking at these chartings that it just doesn't have the popularity of a Marathon or a Coinbase it is one of those stocks that kind of chugs along quietly in the background until people wake up during a bull market and go ZOMG Get any crypto blockchain related investment!
https://www.cbinsights.com/company/hive-blockchain

Data Centers can be sexy and chips, as we have seen in the recent AI boom with Nvidia. Kind of a dark horse in the sense its not an AI company but the shovel picker generating the chips for the AI models. Now the bets on AMD catching up more less
https://finance.yahoo.com/news/1-artificial-intelligence-ai-stock-103000057.html

One of those that a traditional trader would put in some far out of the money options bids on and then wait on the news for a rally to make a decent return on. That or Coinbase 200 dollar option contracts the flaming cheeto strategy. (Hot enough to burn you but its a spicy trade potential)

Ha-ha thanks for responding speculation seems oddly peaceful for a bull run

well if you look at the last(upto) 5 year charts
marking their periods low and high and then scaling the current price inbetween


seems QBTC is at the highest thus has more downside..
and HIVE is at the lowest and has most upside

though it also takes looking into the companies fundamentals to see if they are operating appropriately, legally and have longevity

What's your bet on the best returning stock for 2024.

You can extend out of CEFI into Miners so for example best stock
Marathon Digital up 586.8% in 2023 so going to say its the best returning one for 2024
https://money.usnews.com/investing/articles/best-performing-stocks-of-the-year

Coinbase for the most volatile rollercoaster this year.
https://www.morningstar.com/stocks/top-performing-stocks-2023
Amid a strong stock market rally in 2023, Coinbase COIN performed best among U.S.-listed stocks covered by Morningstar analysts, as the cryptocurrency exchange platform rebounded from a steep downturn in 2022. Its 391.4% surge came as the price of Bitcoin rose 154.8% in 2023.

Other Examples
Hut8
Galaxy Digital
Riot Platforms Inc
Hive Digital Technologies
Coinbase
Marathon Digital

Or a future ETF or something like
QBTC