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OT: Bitcoin, Altcoins, NFT's & All Things Crypto

Clearly you're sarcastic here, but the answer is BTC.



And the manipulation isnt insiders on Wall St? Who's fooling who here? BTC is prone to massive swings and speculation, often driven by people with an agenda--- be it BS FUD articles to drive down the price or Elon and his propensity to Tweet. The past year has proven how much manipulation there is in traditional investments as well.

The Winklevii & other people driving crypto innovation are pissing themselves just as Steve Jobs, Bill Gates, Bezos, Zuckerberg, Segei Brin, or anyone else who spurred technological development in the late 90's early 00's was.

Yes, there is also countless bag holders in crypto. Those come in the form of the shitcoin holders who buy into influencer marketing on the next coin or token going to the moon.

You do you, but if you think all crypto is a pump and dump scheme there's really no point in engaging further. I encourage you to open your mind to the change that is happening in the digital space. We're at the precipice of the next internet or web3.0, and crypto will be a massive part of the equation. My goal with this thread has been to open my fellow Rutgers fans eyes to BTC, the crypto space and the changes that are (no so) subtly happening in in our economy.
I don’t question your knowledge on this topic and I get the impression you’ve done well. That’s the most important thing - no doubt. But, it’s no different than my buddy educating me on his upcoming Fantasy Football draft and why he’s taking Elliott with his first pick and how much money he thinks he will win this year. And he seems to win every single year. But, I don’t do Fantasy Football for the same reason I don’t mess with crypto - because it’s not real. Eventually the underlying technology will separate itself from all the coin nonsense.
 
I own Ethereum and thats all right now. Sold my BTC back in Q1 and dumped it all into ETH as I felt it had a better utility moving forward. I still own a lot of Gold and Silver ETFs and miners but they have been awful the past year so I just keep buying to avg cost as I think everything going on with China will cause even more pressure globally on economies that Gold will rebound.
That said, I own a lot more ETH than my commodities positions as I think its a long term play

ETH does have great utility, but I've outlined my concerns with it long term.

This story on Jack Dorsey launching a new company to build "an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services," to me is one that did not get enough attention as it should have. Square is essentially building an open source platform to run on top of Bitcoin to allow for more utility.


I don’t question your knowledge on this topic and I get the impression you’ve done well. That’s the most important thing - no doubt. But, it’s no different than my buddy educating me on his upcoming Fantasy Football draft and why he’s taking Elliott with his first pick and how much money he thinks he will win this year. And he seems to win every single year. But, I don’t do Fantasy Football for the same reason I don’t mess with crypto - because it’s not real. Eventually the underlying technology will separate itself from all the coin nonsense.

Him declaring his first overall pick this early is downright ignorance. So much can happen. If one thing FF has taught me its to not to really start doing research until 7-10 days before my draft. I've been burned many times recalling old information that is no longer relevant. Just like those who read some article in May about BTC or blockchain and think that it's just going to go away or not be relevant.

Yes I've done well with crypto. My successful moves have all been when I've done my homework and not try to chase memes or shitcoins. And it's plenty different. It's like youre saying that the iPhone is no different that a Motorola Startac in 2007. Crypto is disruptive technology in the same way that the iPhone was when it launched and created a whole new category of computer development - mobile apps. Blockchain now is what the iPhone was when it first rolled out.
 
If you’ve made money all the power to you. Unfortunately, plenty of suckers have gotten crushed. But, that’s on them.
Of course, but you can say the same about the stock market. You have to make your own decisions either way and if you do it wrong, you can lose. The crypto market in general has been trending upwards for most of its young history, so I think it's not unreasonable to assume most have made money. The ones who are losing are the ones who bought at all-time highs or put a lot into new altcoins, most of which fizzle into nothingness.
 
ETH does have great utility, but I've outlined my concerns with it long term.

This story on Jack Dorsey launching a new company to build "an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services," to me is one that did not get enough attention as it should have. Square is essentially building an open source platform to run on top of Bitcoin to allow for more utility.




Him declaring his first overall pick this early is downright ignorance. So much can happen. If one thing FF has taught me its to not to really start doing research until 7-10 days before my draft. I've been burned many times recalling old information that is no longer relevant. Just like those who read some article in May about BTC or blockchain and think that it's just going to go away or not be relevant.

Yes I've done well with crypto. My successful moves have all been when I've done my homework and not try to chase memes or shitcoins. And it's plenty different. It's like youre saying that the iPhone is no different that a Motorola Startac in 2007. Crypto is disruptive technology in the same way that the iPhone was when it launched and created a whole new category of computer development - mobile apps. Blockchain now is what the iPhone was when it first rolled out.
I’m a believer in blockchain and the foundational technology. It’s the speculative coin nonsense that is completely unnecessary when it comes to unlocking the true power of blockchain.
 
The biggest risk with crypto such as bitcoin, ethereum, etc is the government. The minute the US government, EU, UK say that they are making any bitcoin transactions illegal or make moves like China, the value of these coins will drop. Maybe not to zero, but much, much lower.
 
The biggest risk with crypto such as bitcoin, ethereum, etc is the government. The minute the US government, EU, UK say that they are making any bitcoin transactions illegal or make moves like China, the value of these coins will drop. Maybe not to zero, but much, much lower.
Do we think it is at all likely that the US makes crypto transactions illegal?

Taxing transactions? Now that makes total sense. But making transactions illegal seems like stretch.
 
Do we think it is at all likely that the US makes crypto transactions illegal?

Taxing transactions? Now that makes total sense. But making transactions illegal seems like stretch.

I don’t know how far the us government can take things, but even if they demand greater scrutiny or control over the transactions, it would be enough to scare a lot of investors.
 
Of course, but you can say the same about the stock market. You have to make your own decisions either way and if you do it wrong, you can lose. The crypto market in general has been trending upwards for most of its young history, so I think it's not unreasonable to assume most have made money. The ones who are losing are the ones who bought at all-time highs or put a lot into new altcoins, most of which fizzle into nothingness.
 
I don’t know how far the us government can take things, but even if they demand greater scrutiny or control over the transactions, it would be enough to scare a lot of investors.
I think some would be scared by it, but some would welcome it.

I would think some of the big money doesn't want to play in such an unregulated field.
 
Do we think it is at all likely that the US makes crypto transactions illegal?

Taxing transactions? Now that makes total sense. But making transactions illegal seems like stretch.
I'd look more to what China can do (and does already do). They're going to be the New Boss.
 
I'd look more to what China can do (and does already do). They're going to be the New Boss.
I don't know about that.

They booted the miners and the miners just went to different countries, and now crypto is on the move again.

I think China is just further isolating themselves here, not sure if that is intentional or not, but people outside of China aren't going to abandon BTC if China creates their own crypto.
 
Interesting...so you can steal the coins, but you can't launder them or cash out due to transparency, so the hackers are just returning it.
This has always been the stance of the crypto bulls.

But that doesn't seem to stop the hackers from asking for payment in btc.

So I'm still confused on this.
 
I don't know about that.

They booted the miners and the miners just went to different countries, and now crypto is on the move again.

I think China is just further isolating themselves here, not sure if that is intentional or not, but people outside of China aren't going to abandon BTC if China creates their own crypto.
In the future where China produces everything the world needs, creates their own cryptocoin, and decides not to accept Bitcoin, or transact with anyone who purports to convert digital yuan for bitcoin, or allow any internet traffic to blacklisted IP addresses that reportedly do same, how will this isolation be a boon to bitcoin hodlers? Don't answer, because it's clear we disagree.
 
I was recently thinking about hackers ability to hack BTC. Obviously thus far nothing. So maybe stories like this of Poly getting hacked makes BTC if it remains unhackable, all the more valuable.
This has always been the stance of the crypto bulls.

But that doesn't seem to stop the hackers from asking for payment in btc.

So I'm still confused on this.
I’m surprised lawmakers don’t push their cryptocurrency tax agenda based on costs of enforcement - i.e., a crypto wallet gets hacked and the first call is to the local authorities and FBI. If you don’t want to pay taxes on cryptocurrency transactions then you shouldn’t have any legal avenue for recourse.
 
Do we think it is at all likely that the US makes crypto transactions illegal?

Taxing transactions? Now that makes total sense. But making transactions illegal seems like stretch.
Lol, the US govt will not do that. They will seek to regulate defi and yield farming but the SEC chair - who spent the last 3 years teaching crypto currency at MIT - has all but outright said the US will embrace crypto. His interview tour last week was pretty telling.

This comment from this interview stood out to me

GENSLER: I’m very pro innovation, I think it helps the economy grow, I think more people get access to finance and access to good medicine, access to good jobs. I think I wouldn’t have gone to MIT and been a professor there for three years at the intersection of finance and technology amongst some of the world’s remarkable experts at MIT. So, I count myself as pro innovation, but I think that we also need rules of the road. Automobile came along 100 plus years ago and if we didn’t have rules of the road, Detroit wouldn’t have been able to sell those automobiles, those good factory jobs wouldn’t have been created, those good union jobs wouldn’t have been created without rules of the road that people had confidence and trust in the automobiles. Similarly, we need trust in markets and trust in finance. This innovation, Satoshi Nakamoto’s invention. If it’s going to meet its potential, needs to come within public policy frameworks.

And some semblance of "regulation" takes away one of the biggest black swan arguments. That this is all going to just go away and we're going to make it illegal
I'd look more to what China can do (and does already do). They're going to be the New Boss.
China through their own stupidity eliminated another black swan, but forcing miners to leave the country. Having miners spread across the globe and not China-driven is a huge benefit to the security of the chain.

China is focused solely on their digital Yuan
 
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In the future where China produces everything the world needs, creates their own cryptocoin, and decides not to accept Bitcoin, or transact with anyone who purports to convert digital yuan for bitcoin, or allow any internet traffic to blacklisted IP addresses that reportedly do same, how will this isolation be a boon to bitcoin hodlers? Don't answer, because it's clear we disagree.
I disagree. If China does anything like that, it'll be a bump in the road until the free world ramps up production of necessary goods and avoids China altogether. I would never underestimate the will and strength of free markets to overcome any obstacle (i.e. look at our rebuilt navy with PT boats in WWII, also the Manhattan project, first man on the moon, etc). Once chips are manufactured here and in Europe over the next couple years, we won't have delays in shipping from the far east. China would be foolish to invigorate capitalism outside its borders.
 
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I don't know about that.

They booted the miners and the miners just went to different countries, and now crypto is on the move again.

I think China is just further isolating themselves here, not sure if that is intentional or not, but people outside of China aren't going to abandon BTC if China creates their own crypto.
^^^^^ Bingo!
 
In the future where China produces everything the world needs, creates their own cryptocoin, and decides not to accept Bitcoin, or transact with anyone who purports to convert digital yuan for bitcoin, or allow any internet traffic to blacklisted IP addresses that reportedly do same, how will this isolation be a boon to bitcoin hodlers? Don't answer, because it's clear we disagree.
Yes, we disagree because you are wrong. :)
 
Lol, the US govt will not do that. They will seek to regulate defi and yield farming but the SEC chair - who spent the last 3 years teaching crypto currency at MIT - has all but outright said the US will embrace crypto. His interview tour last week was pretty telling.

This comment from this interview stood out to me



And some semblance of "regulation" takes away one of the biggest black swan arguments. That this is all going to just go away and we're going to make it illegal

China through their own stupidity eliminated another black swan, but forcing miners to leave the country. Having miners spread across the globe and not China-driven is a huge benefit to the security of the chain.

China is focused solely on their digital Yuan
Got some wow news for you. :)

Bitcoin’s Surge Lacks Extreme Leverage That Powered Past Rallies
Bloomberg - Are you a robot?
 
Got some wow news for you. :)

Bitcoin’s Surge Lacks Extreme Leverage That Powered Past Rallies
Bloomberg - Are you a robot?
Yeah. The leverage isnt there. Another thing that isnt there is the volume, which is a double edged sword. Back when it was in the 60's and I said it's either going to 75 or 30k, the volume came grinding to a halt. The rapid price momentum brought in a slew of new investors and people buying. That came to a halt. The volume and lack of coins available drove the price from 30 to 64k. Fast forward to now and the price is shooting up and the volume is nowhere near what it was back in March/April at comparable prices. Why?

Well the supply is crashing. The amount of coins on exchanges are being gobbled up by long term holders, driving the price up after a long consolidation period. There's currently a 46k ceiling that we havent really broken out of. When that happens, there's going to be an impressive move up that gets fueled by fomo volume.

So while my best cast scenario earlier in the year was a 75k BTC by years end, I think I'm going to up that to a 99 - 104k before years end. News out of Apple, Amazon or both, combined with an eventual ETF approval is going to make for quire the second half of the year.
 
Well the supply is crashing. The amount of coins on exchanges are being gobbled up by long term holders, driving the price up after a long consolidation period.
Absolutely true. Long term holders and "smart money" keep gobbling up coins on the dips. If this continues, the future looks bright. :)
 
So I'm seeing reds all across the crypto board over the last 24 hours.

Except Clover which is up 13%. What is driving that?
 
I disagree. If China does anything like that, it'll be a bump in the road until the free world ramps up production of necessary goods and avoids China altogether. I would never underestimate the will and strength of free markets to overcome any obstacle (i.e. look at our rebuilt navy with PT boats in WWII, also the Manhattan project, first man on the moon, etc). Once chips are manufactured here and in Europe over the next couple years, we won't have delays in shipping from the far east. China would be foolish to invigorate capitalism outside its borders.

America couldn't even ramp up to make .50 masks never mind PT boats and Manhattan Projects lol. That America is long gone. China is also not who/what it was 10 years ago. Xi has been consolidating himself as a dictator and they see things differently (especially in China). China is going for jugular. They see weakness everywhere they look outside. They sent the whole West down the suicide crapper with their bug. They are hunting for deals to do without using US dollar (which US does its best to wreck).

If they put a blockade on Taiwan then 95% of world chips would be up a creek. Ford, Tesla, Qualcomm, GM, AMD etc all would be in dire straights, and new fabs already in construction aren't opening for 2 more years. I find Americans very naive about "new" China and the risks they are under. Our own agencies admitted a few weeks ago the Navy (it cant even avoid colliding with commercial ships it sees two hours away) probably cant do well vs China, and now A'stan is sad circus. CCP loves this stuff, and they wont be worrying about foreign capitalism. They just pulled 400 billion to a trillion out of the stock market and poked investors in the eyes.

Investors Lost Hundreds of Billions on China in July​

 
So I'm seeing reds all across the crypto board over the last 24 hours.

Except Clover which is up 13%. What is driving that?
Crypto market looks pretty steady this morning. Don't know anything about Clover. Bob or Nut?
 
BTC is just hovering at or around that 46k resistance level that I mentioned before.

This was just posted yesterday.

Just like this one that was posted a month ago

Or this one the month before that (had to use the Wayback machine, as the position has been taken down)

So you have Walmart, Amazon & Apple all hiring for blockchain positions. I'll be conservative and say they're all just going to start accepting BTC and crypto as payment options. Should be a fun Q4...
 
BTC is just hovering at or around that 46k resistance level that I mentioned before.

This was just posted yesterday.

Just like this one that was posted a month ago

Or this one the month before that (had to use the Wayback machine, as the position has been taken down)

So you have Walmart, Amazon & Apple all hiring for blockchain positions. I'll be conservative and say they're all just going to start accepting BTC and crypto as payment options. Should be a fun Q4...
Great info, crypto adoption is happening very quickly.
 
BTC is just hovering at or around that 46k resistance level that I mentioned before.

This was just posted yesterday.

Just like this one that was posted a month ago

Or this one the month before that (had to use the Wayback machine, as the position has been taken down)

So you have Walmart, Amazon & Apple all hiring for blockchain positions. I'll be conservative and say they're all just going to start accepting BTC and crypto as payment options. Should be a fun Q4...
It was pushing 48K for a couple days, i think that is where the resistance is.
 
It was pushing 48K for a couple days, i think that is where the resistance is.

If you have about 50 mins to kill, give a listen to Pomp and Kevin O'Leary from earlier in the week.



They touch on a lot of good topics - compliance, etf's, defi, price predictions. For those that don't know, Mr. Wonderful was firmly anti-crypto. Here's a CNBC interview from 2019 and has since come full circle.


He's not committed to putting up to 20% of his $ into crypto. Not that the "sharks" are true barometers, but for the average joe, they're viewed as business experts. When you have two of the most prominent (Oleary & Cuban) advocating for BTC and crypto, the average joe is going to pay attention.
 
If you have about 50 mins to kill, give a listen to Pomp and Kevin O'Leary from earlier in the week.



They touch on a lot of good topics - compliance, etf's, defi, price predictions. For those that don't know, Mr. Wonderful was firmly anti-crypto. Here's a CNBC interview from 2019 and has since come full circle.


He's not committed to putting up to 20% of his $ into crypto. Not that the "sharks" are true barometers, but for the average joe, they're viewed as business experts. When you have two of the most prominent (Oleary & Cuban) advocating for BTC and crypto, the average joe is going to pay attention.
ETH to $150,000! :)

 
Looking at the month long charts.

BTC up 67%
ETH up almost 90ish%
ATOM is up 100%
Polkadot up 150%
 
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BTC up over $49K so it got through whatever resistance it was dealing with around the $46-48K level.

ETH has been battling resistance around the $3300 level for about 10 days now. I had read there would be resistance at $3700, I don't know if that pans out, but it is definitely dealing with some here.
 
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ATOM has gone on 2 good runs this week. One on Wednesday where it went from $15 to $20, and then this morning where it went from $19 to $23.

Up around 50% for the week.
 
BTC up over $49K so it got through whatever resistance it was dealing with around the $46-48K level.

ETH has been battling resistance around the $3300 level for about 10 days now. I had read there would be resistance at $3700, I don't know if that pans out, but it is definitely dealing with some here.
Lots of momentum with ETH right now. Also, ETH 2.0 is on the shot clock which will cause it is legitimately go deflationary, along with increased usage. So do the math on that! :)
 
ATOM has gone on 2 good runs this week. One on Wednesday where it went from $15 to $20, and then this morning where it went from $19 to $23.

Up around 50% for the week.
Not too familiar with ATOM. I will check it out.
 
BTC over $50K.

ETH over $3300. Still needs to break through though. It got to $3,341 last Sunday. So interesting to watch what it does around that mark. Currently $3,328.

BTC cleared it's resistance, and if it keeps rolling I imagine it drags ETH past it's resistance as well.
 
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BTC over $50K.

ETH over $3300. Still needs to break through though. It got to $3,341 last Sunday. So interesting to watch what it does around that mark. Currently $3,328.

BTC cleared it's resistance, and if it keeps rolling I imagine it drags ETH past it's resistance as well.
🚀🚀🚀🚀🚀

:)
 
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