OT: Bitcoin, Altcoins, NFT's & All Things Crypto
- Thread starter bob-loblaw
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Thank you. I had some good people educating me in the space when I first got in, so I'm happy to reciprocate.
Bloomberg - Are you a robot?
www.bloomberg.com
Once one started, the dominoes would begin to fall. This is why all the FUD articles seem orchestrated right now.
One of the things I look for is the amount of stablecoins prints happening. In the past week a little over 2billion in prints have occurred. The last time we saw this level was a few weeks ago when the price of BTC fell hard.
The counter to this (unfort less likely IMO) is the potential for more chips coming into the casino and BTC / crypto prices mooning. I'm more likely to believe that were about to see another dip as any whale entering the BTC space is not using a stablecoin to purchase BTC.
Either way, as I mentioned in an earlier post, we're due for some serious volatility in the near term.
The counter to this (unfort less likely IMO) is the potential for more chips coming into the casino and BTC / crypto prices mooning. I'm more likely to believe that were about to see another dip as any whale entering the BTC space is not using a stablecoin to purchase BTC.
Either way, as I mentioned in an earlier post, we're due for some serious volatility in the near term.
Bring it! :)
www.cnbc.com
Cathie Wood's Ark Invest to create a bitcoin ETF under the symbol 'ARKB'
Cathie Wood's Ark Invest is working with 21Shares to create a bitcoin exchange-traded fund.
Positive consequence of the China mining crackdown:
www.cnbc.com
Bitcoin mining is now easier and more profitable as algorithm adjusts after China crackdown
It just became a whole lot easier and much more profitable to mine for bitcoin.
Good I was hoping the difficulty adjustment would rollout soon. I was expecting it on the first.Positive consequence of the China mining crackdown:
Bitcoin mining is now easier and more profitable as algorithm adjusts after China crackdown
It just became a whole lot easier and much more profitable to mine for bitcoin.
The other positive of the asic miners moving out of China is that it eliminates a possible black swan event; the Chinese govt taking control of the miners and performing a 51% attack. The odds of that were <1% to begin with, but it's nice to check off the list.
We're still in a consolidation phase. In the last week, long term btc holders have been buying more btc than the new btc holders. This is a good trend. Also, the amount of new users who enter the space continues to rise on a daily basis. A healthy amount of selling had occured from miners who needed to fund their move out of China.
We'll probably continue sideways for a little longer. If anything, I expect to see BTC hover more in the 35-40k range instead of its current 30-35k.
The image below is pretty helpful. It's essentially showing the amount of illiquid btc moving off exchanges and into wallets. The selloff has stopped, but the market still has too much supply. Once the coins dumped on the market by the weak hands get fully absorbed, we should be back on our way.
All things considered, the attack on BTC via the news and FUD has been remarkable the last 75 days. It's been hit piece after the next, with regurgitation and likely orchestration.
The next real spike up will be eithe be when Gensler approves the BTC ETF or when Apple announces its accepting btc as a payment method in its wallet.
Good post. Yes, still will be some consolidation, but the onchain data looks bullish for the future. Lots of support and buying by the "smart" crypto money. BTC has held up extremely well after 2 months are endless FUD.Good I was hoping the difficulty adjustment would rollout soon. I was expecting it on the first.
The other positive of the asic miners moving out of China is that it eliminates a possible black swan event; the Chinese govt taking control of the miners and performing a 51% attack. The odds of that were <1% to begin with, but it's nice to check off the list.
We're still in a consolidation phase. In the last week, long term btc holders have been buying more btc than the new btc holders. This is a good trend. Also, the amount of new users who enter the space continues to rise on a daily basis. A healthy amount of selling had occured from miners who needed to fund their move out of China.
We'll probably continue sideways for a little longer. If anything, I expect to see BTC hover more in the 35-40k range instead of its current 30-35k.
The image below is pretty helpful. It's essentially showing the amount of illiquid btc moving off exchanges and into wallets. The selloff has stopped, but the market still has too much supply. Once the coins dumped on the market by the weak hands get fully absorbed, we should be back on our way.
All things considered, the attack on BTC via the news and FUD has been remarkable the last 75 days. It's been hit piece after the next, with regurgitation and likely orchestration.
The next real spike up will be eithe be when Gensler approves the BTC ETF or when Apple announces its accepting btc as a payment method in its wallet.
Also, looking forward to the ETH London hardfork and EIP-1559 this month. Let's roll! :)
In the past, such prolonged FUD would have caused an 80% drop and a crypto winter cycle.
Bitcoin mining is turning a New York lake into a 'hot tub,' says a resident. Here's how.
"The lake is so warm you feel like you're in a hot tub," said a woman who lives near a gas-fired New York plant that powers 8,000 computers mining bitcoins.
You have to remember that T thinks the Earth is cooling. Had you bought when he recommended doing so in May, you would now have roughly half of your investment left. He is highly reliable, you just have to multiply his recommendations by -1.
I see your Alzheimer's medication didn't kick in today. Educate yourself and then post. LOL!
Unfortunately for you, your posts are still here. You recommended buying etherium on May 12 when it was at roughly $4000, depending on when in the day one would buy. It is now a shade over $2100. Your recommendation on Bitcoin wasn't quite as bad, only a 1/3 drop, but your acumen as a financial advisor is here for all to see.
As to your views on global warming, we all see how that is working out.
You'd be the guy buying up all the tulips the day before the crash.
I see you didn't cite any of my posts about me buying and holding for the rest of the decade. Time horizons matter. Sorry that you don't have such time left. LOL!
#buythedip
What is great about you T is your willingness to double down on dumb. The fact that bitcoin or ethereum may (hell, even will) be higher in the future than their previous highs doesn't make your buying advice in early to mid-May any smarter. Someone buying today instead of two months ago would have 1.5-2 times as many coins.
From a broader perspective, I'm glad I didn't spend my life chasing money. I'd recommend you shift gears. Never too late to start doing the right thing.
You can't be so stupid to think you can time the market (especially the crypto market). Please, try different medications. Once again, educated yourself and then post.
In the meanwhile, buy the dips and enjoy the ride!
Interesting thoughts on the flippening:
markets.businessinsider.com
Indirectly related article, the ETH London hard fork is less then a month away (EIP-1559 and other upgrades):
www.coindesk.com
Don't be surprised if ether takes over bitcoin as the dominant digital store of value, Goldman Sachs says
"This competition among cryptocurrencies is another risk factor that prevents them from becoming safehaven assets," Goldman said.
markets.businessinsider.com
Indirectly related article, the ETH London hard fork is less then a month away (EIP-1559 and other upgrades):
Ethereum's London Hard Fork Expected to Launch on Aug. 4
The protocol update includes five Ethereum Improvement Proposals (EIPs), most notably EIP 1559 and EIP 3554.
No, I'm not that stupid. I'm not the one who told people to buy Bitcoin at $50K and Etherium at $4K. That would have been you. Again, the posts are there for anyone to see.
Only short term play I've ever made once based on advice from a board member who actually knows what he's talking about, and I did nicely on it.
I listen to experts in all fields. That's why I understand global warming, COVID vaccine, and investing. And why I always multiply your statements by -1. It's foolproofing.
It’s a common theme for T that will cost him dearly in the long run. I gave up trying to reason with him months ago. He pumped Tesla at $900, ARKK at $160, [insert any stock or crypto at all time high], etc. He seems to think Buy high, sell high is a better investment strategy than Buy low, sell high.
You have proven this statement to be incorrect. I love your non-reply reply (shows that I won again). I prove you wrong and you desperately try to change the point. Post tomorrow when your meds are working better. I would say you are too old for this thread, but there are some older folks rocking it, so it must be you.
You're losing it, young man. What is it that I've dodged? You've tried to move the subject away from where we started: That your advice would have cost people a ton of money. Again, all the posts are still there. You might want to consider editing them to say something else.
On a more serious note. You probably have a ton of money. Why not shift your priorities to see if you can do some good with your bounty. I can guarantee it will make you a happier man twenty years from now. "It is more blessed to give than to receive" isn't just a Biblical exhortation; it's a simple truth.
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PayPal increased their crypto services. Sounds like more coins will be available soon as well!
www.cnbc.com
PayPal increases weekly cryptocurrency purchase limit fivefold to $100,000
PayPal users can now buy $100,000 of bitcoin and other digital assets per week, up from a previous limit of $20,000.
I'll be in Cramer's studio on Tuesday NBC is my customer. Quick 15 minute drive to Engelwood Cliffs
Saquan of the Giants just announced he was tlaking all his endorsement $ in BTC. Plenty of coverage here
saquon barkley - Google Search
www.google.com
Interesting thoughts on the flippening:
Don't be surprised if ether takes over bitcoin as the dominant digital store of value, Goldman Sachs says
"This competition among cryptocurrencies is another risk factor that prevents them from becoming safehaven assets," Goldman said.
Indirectly related article, the ETH London hard fork is less then a month away (EIP-1559 and other upgrades):
Ethereum's London Hard Fork Expected to Launch on Aug. 4
The protocol update includes five Ethereum Improvement Proposals (EIPs), most notably EIP 1559 and EIP 3554.
Lol. Eth will never replace BTC as a store of value. I hate to be short, but it's cut and dry. BTC is a simple deflationary coin with one purpose. As ETH tries to pivot, watch as it becomes a jack of all trades, master of none. I'm not shitting on ETH fully, I just think that you're aggressive focus on Eth is misguided. It's my hope that you've gotten off the etf's and start owning coins/tokens outright.
With the exception of one token, the last few weeks have been boring in the crypto space. The consolidation continues chugging on. Since BTC steers the entire crypto market, I'll focus there.
The on chain data still shows good trends.
Long term holders continue to buy more coins, while the sell off has occurred from new hands in the market for less than 90 days.
The amount of new users in the BTC continues to rise daily
The tornado of FUD seems to have subsided. Good news is rolling in though.
Square announcing a Decentralized Exchanged (DEX) focused mainly on BTC.
www.thestreet.com
BoA allowing BTC Futures trading
www.thestreet.com
More countries considering BTC as legal tender.
And quite possibly the best news yet, I'll just leave here
finance.yahoo.com
Ive been expecting to see an aggressive move in BTC up or down for the last 2 weeks now. IT obviously hasnt happened. We're now in a situation where on-chain data is suggesting we're in a bull, while the price action remains bearish. Something has to give soon.
Meanwhile, the SEC continues to punt on approving a Bitcoin ETF. That approval is the catalyst that will bring the next level price/volume to BTC. The lack of volume when it was in the 60k range was one of the catalysts that drove the price down.
This reminds me a lot of last summer, where the price kept chugging in the 9-12k range before making its run. Ive been DCA'ing into BTC weekly for sometime and will continue to do so/
The only fun news out of the last few weeks was the AXS token for the game Axie Infinity. It's up about 700% since early June. I touched on this token a few times last year, as it has become a source of income for people in developing countries. This thing has gone up so much that's its become my 3rd largest holding after BTC & Decred.
forkast.news
The on chain data still shows good trends.
Long term holders continue to buy more coins, while the sell off has occurred from new hands in the market for less than 90 days.
The amount of new users in the BTC continues to rise daily
The tornado of FUD seems to have subsided. Good news is rolling in though.
Square announcing a Decentralized Exchanged (DEX) focused mainly on BTC.
Jack Dorsey Announces New Square Division To Build DeFi on Bitcoin
The new developments will be completely open source with open roadmaps, according to Dorsey.
www.thestreet.com
BoA allowing BTC Futures trading
Bank of America To Allow Bitcoin Futures for Some Clients
Anonymous sources have told Coindesk that some BoFA may already be set up to trade, with more on the way.
www.thestreet.com
More countries considering BTC as legal tender.
And quite possibly the best news yet, I'll just leave here
Las Vegas Strip Club Now Accepts Bitcoin Payments Over the Lightning Network
The club is accepting bitcoin payments only for bottle service, but plans to expand transactions to food, admission and tips.
Ive been expecting to see an aggressive move in BTC up or down for the last 2 weeks now. IT obviously hasnt happened. We're now in a situation where on-chain data is suggesting we're in a bull, while the price action remains bearish. Something has to give soon.
Meanwhile, the SEC continues to punt on approving a Bitcoin ETF. That approval is the catalyst that will bring the next level price/volume to BTC. The lack of volume when it was in the 60k range was one of the catalysts that drove the price down.
This reminds me a lot of last summer, where the price kept chugging in the 9-12k range before making its run. Ive been DCA'ing into BTC weekly for sometime and will continue to do so/
The only fun news out of the last few weeks was the AXS token for the game Axie Infinity. It's up about 700% since early June. I touched on this token a few times last year, as it has become a source of income for people in developing countries. This thing has gone up so much that's its become my 3rd largest holding after BTC & Decred.
Axie Infinity fans play their way to payday as game token prices soar
Axie Infinity has caught the blockchain community’s attention as the price of its governance token has kept rising. Now it’s hit an ATH, players are earning some serious money.
forkast.news
You had been mentioning AMP in the past. Did you sell?? Price is stagnantWith the exception of one token, the last few weeks have been boring in the crypto space. The consolidation continues chugging on. Since BTC steers the entire crypto market, I'll focus there.
The on chain data still shows good trends.
Long term holders continue to buy more coins, while the sell off has occurred from new hands in the market for less than 90 days.
The amount of new users in the BTC continues to rise daily
The tornado of FUD seems to have subsided. Good news is rolling in though.
Square announcing a Decentralized Exchanged (DEX) focused mainly on BTC.
Jack Dorsey Announces New Square Division To Build DeFi on Bitcoin
The new developments will be completely open source with open roadmaps, according to Dorsey.
BoA allowing BTC Futures trading
Bank of America To Allow Bitcoin Futures for Some Clients
Anonymous sources have told Coindesk that some BoFA may already be set up to trade, with more on the way.
More countries considering BTC as legal tender.
And quite possibly the best news yet, I'll just leave here
Las Vegas Strip Club Now Accepts Bitcoin Payments Over the Lightning Network
The club is accepting bitcoin payments only for bottle service, but plans to expand transactions to food, admission and tips.
Ive been expecting to see an aggressive move in BTC up or down for the last 2 weeks now. IT obviously hasnt happened. We're now in a situation where on-chain data is suggesting we're in a bull, while the price action remains bearish. Something has to give soon.
Meanwhile, the SEC continues to punt on approving a Bitcoin ETF. That approval is the catalyst that will bring the next level price/volume to BTC. The lack of volume when it was in the 60k range was one of the catalysts that drove the price down.
This reminds me a lot of last summer, where the price kept chugging in the 9-12k range before making its run. Ive been DCA'ing into BTC weekly for sometime and will continue to do so/
The only fun news out of the last few weeks was the AXS token for the game Axie Infinity. It's up about 700% since early June. I touched on this token a few times last year, as it has become a source of income for people in developing countries. This thing has gone up so much that's its become my 3rd largest holding after BTC & Decred.
Axie Infinity fans play their way to payday as game token prices soar
Axie Infinity has caught the blockchain community’s attention as the price of its governance token has kept rising. Now it’s hit an ATH, players are earning some serious money.
Store of value? No. ETH is about utility. Remember, ETH can still flip BTC in market cap based on this. London hard fork coming in a few weeks. :)
BTW, I bought more BTC on the recent dips, so BTC leads in my portfolio.
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The Square news is really good for BTC and the crypto market. Watching this closely!With the exception of one token, the last few weeks have been boring in the crypto space. The consolidation continues chugging on. Since BTC steers the entire crypto market, I'll focus there.
The on chain data still shows good trends.
Long term holders continue to buy more coins, while the sell off has occurred from new hands in the market for less than 90 days.
The amount of new users in the BTC continues to rise daily
The tornado of FUD seems to have subsided. Good news is rolling in though.
Square announcing a Decentralized Exchanged (DEX) focused mainly on BTC.
Jack Dorsey Announces New Square Division To Build DeFi on Bitcoin
The new developments will be completely open source with open roadmaps, according to Dorsey.
BoA allowing BTC Futures trading
Bank of America To Allow Bitcoin Futures for Some Clients
Anonymous sources have told Coindesk that some BoFA may already be set up to trade, with more on the way.
More countries considering BTC as legal tender.
And quite possibly the best news yet, I'll just leave here
Las Vegas Strip Club Now Accepts Bitcoin Payments Over the Lightning Network
The club is accepting bitcoin payments only for bottle service, but plans to expand transactions to food, admission and tips.
Ive been expecting to see an aggressive move in BTC up or down for the last 2 weeks now. IT obviously hasnt happened. We're now in a situation where on-chain data is suggesting we're in a bull, while the price action remains bearish. Something has to give soon.
Meanwhile, the SEC continues to punt on approving a Bitcoin ETF. That approval is the catalyst that will bring the next level price/volume to BTC. The lack of volume when it was in the 60k range was one of the catalysts that drove the price down.
This reminds me a lot of last summer, where the price kept chugging in the 9-12k range before making its run. Ive been DCA'ing into BTC weekly for sometime and will continue to do so/
The only fun news out of the last few weeks was the AXS token for the game Axie Infinity. It's up about 700% since early June. I touched on this token a few times last year, as it has become a source of income for people in developing countries. This thing has gone up so much that's its become my 3rd largest holding after BTC & Decred.
Axie Infinity fans play their way to payday as game token prices soar
Axie Infinity has caught the blockchain community’s attention as the price of its governance token has kept rising. Now it’s hit an ATH, players are earning some serious money.
Is there a specific reason crypto been tanking the last two weeks? Have seen my ETH dive down hard.
Just a crazy amount of FUD. Mostly China's crypto crackdown and banning BTC miners. Also, the prospect of US regulation. I'm holding and buying on the major dips because in the long run these are good things.
It's very good for the crypto market for miners to move to North America and leave China. Also, some US regulation is positive and will help the crypto market become more mature and viable for WS money on the sidelines.
My guess is the market will be soft for a while longer. It is practically impossible to time the market. It crashes or skyrockets in the blink of an eye. Invest the amount of money that makes you comfortable. I have a strict limit on what I am willing to expose to cryptos.
Good. Are you buying the coins directly or still messing around with Galaxy and others? Please buy directly. In 5 years you will 100% be regretting not owning the coins outright
It really hasnt been tanking. It's been trading sideways. BTC has been trading from 30k - 35k. Eth is down a little, but I wouldnt call this tanking. We're days or weeks away from a major price movement. I cant attest for Eth's onchain data, but onchain data for BTC remains bullish, which leads me to believe we're going up.
The flow of BTC off exchanges has remained positive for the last few weeks, which is a good sign. People are taking their BTC and moving it off of Coinbase, Binance, Gemini and others, and moving them to wallets.
Miners are holding more BTC after their big selloff in May to fund their moves out of China. The amt of BTC they're holding is close to being at the same levels as just before the mid-May price drop.
The signs are all pointing to a breakout to the upside, we shall see though.
Either way, nothing has changed my long-term opinion of crypto and BTC. There's a strong chance we'll be seeing more corporate buy in this quarter. The pending Apple announcement of accepting BTC in Apple wallet will also be a big one. As will the acceptance of BTC ETF's. I could very easily see a scenario where BTC is in the 75k-100k range by the end of summer. That's also assuming the short-term breakout is up, not down.
I do now have a Coinbase account and has been using that for the dips. The majority of my crypto investments are still via Grayscale (GBTC and ETHE), but I am diversifying. Even bought a little bit of Cardano.
FYI - great points in your reply to RUfan. On chain data for BTC is strong. Smart money continues to accumulate. On chain ETH data and utilization is strong as well. Looking forward to the London hard fork and EIP-1559. ETH will start being burned soon. :)
Nope. Contemplated selling some right after the Coinbase listing, but opted against it due to its use case. The token is used to onboard BTC payments at retail establishments. It can also be expanded for other currencies. I grabbed a ton last year at 1/2 of a penny. would have done nicely flipping when it was .$12.
I figured I'd give a rundown of the alts I'm passionate about
AMP - Mentioned above.
AXS - Axie Infinity in-game NFT token. Its up ~500 - 700% this month. As game usage expands past emerging countries this will continue its rise. Bought in at $1 - 1.25, currently around $19.
DCR - Decred has amazing potential. At it's core, it's a much better version of BTC. Same max supply as BTC of 21 mill, it's a hybrid proof of work (mining) and proof of stake. Currently 59% of all DCR in circulation are staked, which is unreal. It's supported by a lot of original BTC holders and multiple well respected on-chain analysts. Currently $110. It's not available on any domestic exchange. This jumps to $1000 overnight when it gets listed on coinbase.
ELA - Elastos web 3.0. This is my passion project coin. https://www.elastos.org/
If they can accomplish what they're trying to do, the sky is the limit on this coin. There's a 28 mill max circulation, so it's a tight supply. It's also deflationary like BTC with a halving every 4 years. This is currently $2.06 per coin. There is not another alt out there with this much potential. When it ICO'd in 2018 it hit an all time high of ~$90. It hovered for under a dollar for part of last year. It peaked at $14 this year before following the rest of the market downwards.
The DAO (governance of the coin) has over 1,000 BTC to finance development. You're essentially buying into a greyscale for $2 a coin. One of the founders of the coin is a Microsoft veteran who helped built IE back in the day. The other is a former Tencent exec. They're both very active on twitter and on Telegram. They have two other side projects on the Elastos ecosystem, Filda & Creda. Creda allows you to make money on your digital credit profile. And Filda...
Filda - It's the defi protocol affiliated with Elastos. I've watched this token tank from $1 down to $.13 cents where its at right now. It's currently only afilliated with one network HECO, which right now is like a poormans version of Binance Chain. It's in the process of expanding. The token allows you to lend, borrow and stake crypto. Im currently staking a ton of these right now, as the APY is over 200% when you stake in the DAO. This is a calculated dart throw of a token. I could very easily see this at $10 in the next 2 - 3 years. If Elastos does what I hope it will do, the potential is much higher.
AAVE - Defi lending protocal on Ethereum. They were one of the original defi platforms, that went bezerk in last years "summer of defi" Only 16mil of this token avail. If it dips down below $200 again, I intend to purchase more.
Lastly, I hold WOZX, which is Steve Wozniak's green token. It's dog shit. After peaking near $5 it's been lurking under a dollar for a while now. It's a token that is still in the planning phase. So I;ll wait and hold.
The two alts I keep an eye on are
STX - Serves as a reward mechanism for governments' to earn BTC via Citycoin (which is one of the coolest concepts I've seen in a while)
ICP - Dfinity or Internet Coin Protocol. In 3 mos, this coin has gone from $700 down to $25 to around $29 right now. It's another web 3.0 play. These guys do a great job at marketing; especially when compared to Elastos.
If I can help anyone has questions on BTC or alts, let me know. I'd be happy to chat here or via dm.
BTW, regarding ETFs, it will be interesting to see what happens when GBTC is converted to an ETF. Looks like Grayscale is ready to go once the SEC gives the green light.
Grayscale Investments Forges Agreement with BNY Mellon to Provide Asset Servicing and ETF Services for Grayscale Bitcoin Trust
New York, July 13, 2021 (GLOBE NEWSWIRE) -- Grayscale Investments announced today that it has selected BNY Mellon as an asset servicing provider for...
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