OT: Bitcoin, Altcoins, NFT's & All Things Crypto
- Thread starter bob-loblaw
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As volume skyrockets, ETH goes deflationary for the first time ever:
markets.businessinsider.com
Ethereum's daily issuance just went negative for the first time, following the network overhaul that burns coins
Analysts said large amounts of ether were being burned because the NFT boom was pushing up network usage.
markets.businessinsider.com
Well today has been full of fireworks. El Salvador launches. BTC hits around 53k then plummets down to 42k. Back to 47k.
17k BTC got liquidated by people over-leveraging their BTC. Exchanges now showing massive outflows (moving coins off exchanges to wallets)
Meanwhile the pres of El Salvador is straight trolling the IMF.
17k BTC got liquidated by people over-leveraging their BTC. Exchanges now showing massive outflows (moving coins off exchanges to wallets)
Meanwhile the pres of El Salvador is straight trolling the IMF.
A sell the news moment?
El Salvador buying 150 new coins makes this look like a small time operation.
Pretty much the entirety of the crypto market dipping along with BTC, with a few exceptions.
SOL dropped about 30% before ripping right back. I've been watching (but not owning) this thing sky rocket for the last couple weeks.
FET is one I do own, it had started to take off yesterday and was ripping over night into this morning before BTC went "live in El Salvador". Took a pretty big dip before leveling off, unlike SOL has not gotten back to it's pre dip level.
SOL dropped about 30% before ripping right back. I've been watching (but not owning) this thing sky rocket for the last couple weeks.
FET is one I do own, it had started to take off yesterday and was ripping over night into this morning before BTC went "live in El Salvador". Took a pretty big dip before leveling off, unlike SOL has not gotten back to it's pre dip level.
Sell the news. People who were over leveraged got crushed, and fast.
It is small on the size of what was purchased, as they're one of the poorest countries in the Americas. What's not small is the reality of what they did, setting dominoes in motion.
Yeah. There was a great BTC buying opp in there for about 10 mins. Solana is a machine right now. It's success continues to drive home a point I repeat about the long term viability of ETH due to competition. But I digress, today is BTC day, and the sad less of the day is dont over leverage!
Are people using Solana more? Taking share away from ETH? Is there data on that?
I have a feeling a temporary downtrend in cryptocurrency is in the making. All the folks who were dependent on enhanced unemployment benefits and renters protection will now need to sell some of the cryptocurrency to pay for things. Just a guess.
I don't think it's Doge, as it does have clear usage, but this run certainly looks like a momentum trade on crack.
But I'd love to see any sort of actual usage data on any of these blockchains. Whether that be ETH, SOL, DOT, or whoever.
Panama looking to make BTC and ETH legal tender as well.
cointelegraph.com
Republic of Panama introduces bill for regulating crypto
The Republic of Panama introduced a bill regulating cryptocurrencies, aiming to make the country “compatible with the blockchain, crypto assets and the internet.”
cointelegraph.com
Aside from the overly leveraged initial spike downward which brought ETH down to $3009, the lowest ETH got on this dip was $3216. The $3300 level was only breached for about 1 hour overnight.
So I think it's fair to say the $3300 level, which was providing resistance, is now providing support.
CNBC had a guy on yesterday and he was stressing that "if this is done right" that this could prove to be a big moment for crypto.Panama looking to make BTC and ETH legal tender as well.
Republic of Panama introduces bill for regulating crypto
The Republic of Panama introduced a bill regulating cryptocurrencies, aiming to make the country “compatible with the blockchain, crypto assets and the internet.”
The problem, as I see it, is, these are all countries which are not exactly well run. Now maybe this proves beneficial because, in a way, it bypasses these governments, but I doubt they handle this passively.
Solana is DEF not doge! Let me see what I can dig up for you on smart contract usage across these chains...
Yeah, Theyre not run well... at all. But, BTC provides access to monetary networks for a ton of people in those countries who either did not have access, or were overburdened by exchange fees.
Yeah, the BTC community is turning a blind eye to some of his prior actions. Who knows his true intentions, but I love the chutzpah to troll the IMF.
These countries are so messed that BTC is way, way more stable and sound than their currencies and financial systems.
This doesn't give any usage statistics, and it actually says ETH is currently used much more, but it gives credence to why SOL is running hot right now.
www.bitcoininsider.org
SOL Rally Sparks the Debate, Is Solana Better Smart Contract Platform Than Ethereum?
This one is much more informative, but still no actual usage #'s.
blog.accubits.com
Edit: Although I think this blogger did have a pretty heavy Solana lean.
Solana Vs Ethereum: Which one to choose for your next blockchain project?
Here we'll show you a comparison of Solana Vs. Ethereum and how it can potentially be used as a solution to existing inefficient blockchain processes.
blog.accubits.com
Edit: Although I think this blogger did have a pretty heavy Solana lean.
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You have to wonder if Crypto companies are offering Shaq $1M for a tweet how much are they paying Elon Musk? How much did the El Salvador president get? I’m genuinely happy for people that have made fortunes off crypto and there’s nothing wrong with taking on risk with some spec coin plays. But, there will be a lot of folks left holding the bag when either the Whales are exposed or the regulators finally step-in.
www.cnbc.com
NBA legend Shaquille O'Neal explains why he hasn't invested in crypto
NBA legend and business mogul Shaquille O'Neal explains why he's wary of cryptocurrencies.
Got it.You have to wonder if Crypto companies are offering Shaq $1M for a tweet how much are they paying Elon Musk? How much did the El Salvador president get? I’m genuinely happy for people that have made fortunes off crypto and there’s nothing wrong with taking on risk with some spec coin plays. But, there will be a lot of folks left holding the bag when either the Whales are exposed or the regulators finally step-in.
NBA legend Shaquille O'Neal explains why he hasn't invested in crypto
NBA legend and business mogul Shaquille O'Neal explains why he's wary of cryptocurrencies.
I highly doubt Musk is getting paid by anyone to "shill" crypto.You have to wonder if Crypto companies are offering Shaq $1M for a tweet how much are they paying Elon Musk? How much did the El Salvador president get? I’m genuinely happy for people that have made fortunes off crypto and there’s nothing wrong with taking on risk with some spec coin plays. But, there will be a lot of folks left holding the bag when either the Whales are exposed or the regulators finally step-in.
NBA legend Shaquille O'Neal explains why he hasn't invested in crypto
NBA legend and business mogul Shaquille O'Neal explains why he's wary of cryptocurrencies.
Anyway, MicroStrategy announced today a purchase of another 5,050 BTC. In the last 2-3 weeks, whales accumulated another 100k+ BTC. If Saylor, the biggest public BTC whale out there, only purchased 5% of that, it begs the question of who the others are...
I've been harping on this for some time, but I anticipate some serious Q4 corporate/institutional announcements. Apple/Amazon/Walmart here's looking at you...
I'm going to throw one final Elastos call to anyone interested. It's only available on Kucoin domestically. It's currently $4. There is zero reason why this is not $50+ right now. There is also zero reason why this wont be $1000 in 3 years.
If you don’t mind me asking, any opinions on the Kucoin phone app. Trading platform, and is there a secure wallet you recommend for holding your Elastos . Thanks
Everyone has a price especially when they are one of the most influential people in the world - and playing in an unregulated space. Regardless of Musk, if Shaq is being solicited there are obviously plenty others. Do your research on crypto sources. I found one so-called expert’s profile on LinkedIn and he was the furthest thing from an expert. He had a degree in performance arts and owned a small production studio that was pumping out crypto videos on YouTube and other mediums. It was pretty clear he was getting paid to pump.
I greatly prefer their desktop site.
There's several options for storing. If you have a ledger, you can hold it there. Elastos essentials app is another, as well as the ELAphant wallet.
Countless people are being courted. FTX has been on an insane talent acquisition spree lately.
And I vividly recall the Linkedin guy you found, as I believe it was an "expert" that TK or someone else was touting here. People like that are no different than any other YT or Twitter financial person offering their to the moon stock picks that "arent financial advice."
Solana crashed today and was down for over 6 hours. LOL, not ready for primetime.
Volatility in Crypto? You don't say.
Down about 25% from it's highs. Good buying opportunity? Who knows, but it might be a good time to start building a position.
$1000? That's a bold call.
It's tempting, but then I read this:
KuCoin Review 2024 - Pros, Cons, Payment Methods, Fees & More
We review KuCoin, one of the most reliable crypto trading platforms in the world, covering its pros and cons, payment methods, and more.
insidebitcoins.com
"we cannot endorse Kucoin. The main reasons for this are that Kucoin operates in an unregulated manner, and users are unable to deposit or withdraw funds with real-world money."
Why do you think Elastos is not traded on Coin?
Conversely:
www.fool.com
KuCoin Review: Pros, Cons, and More | The Motley Fool
KuCoin cryptocurrency exchange has one of the widest selections of coins on the market. Read our in-depth review to find out if its features are a good fit for your trading.
www.fool.com
Yes. It's a bold call. I've been parsing down a lot of my crypto holdings into a few main coins/tokens that I believe in - Bitcoin, Decred & Elastos.$1000? That's a bold call.
It's tempting, but then I read this:
KuCoin Review 2024 - Pros, Cons, Payment Methods, Fees & More
We review KuCoin, one of the most reliable crypto trading platforms in the world, covering its pros and cons, payment methods, and more.
"we cannot endorse Kucoin. The main reasons for this are that Kucoin operates in an unregulated manner, and users are unable to deposit or withdraw funds with real-world money."
Why do you think Elastos is not traded on Coin?
Bitcoin for obvious reasons.
Decred has potential to be the hypothetical digital silver to BTC's gold. A lot of original BTC people are involved in DCR. It's not available domestically yet (other than Kucoin). I grabbed a healthy position last year under $50. It's gone up to $250. It's hard capped at 21 mill like BTC. 60% of all tokens are locked up for staking in the DAO. There is pretty much no volume on this coin. When this gets listed on a major exchange, the lack of supply is going to push this drastically higher.
Elastos - It's web 3.0. It's a project that is a reality. There is so much going on in their ecosphere that once it gains adoption, it's off to the races. There's other web 3.0 projects out there, but none of them are anywhere near what the Elastos project has done so far. It's also hard capped at 28 million. There's not many coins out there that have that level of digital scarcity and are under $75.
The DAO - Cyber Republic has also put out a request for proposals for a marketing strategy. There has been zero marketing of this project since launch 4 years ago. I hate saying this, but there's FU money potential in this.
It's just so far along, and has so many things working for it, it's why I make that bold call. And truthfully, I could have easily added another zero in there.
As far as Ku - There's red flags because it's not regulated here. If you put in a KYC, it wont go through. Thankfully, they dont require it to trade. You can either move in Tether, BTC or another coin to trade with, or use a debit card and onboard USDT through a third party called Banxa.
I leave little but a trading position on Kucoin. Everything else gets pulled off onto a wallet. I actually had a major issue with them a month ago and almost lost 9k worth of crypto by sending to an old contract. It took time, but they worked with me to fix the problem.
As far as the Coinbase question, I do not know. Coinbase seeks to profit greatly off of altcoins and sets pretty aggressive terms in their favor. The positive of their IPO is that theyre going to seek more revenue and I could easily see them expanding their offering of alts to include ELA and DCR
I really dont. One of my biggest regrets is not buying RIOT last summer. I kicked around buying several hundred shares when it was $1.50. Oh well.
I've taken the POV of if I'm going to invest in crypto, I'm going to own coins or NFTs outright. Riot, Argo, MicroStrategy are all basically an easy way for people to get into crypto without really doing so.
My one hesitation in the mining companies is that legacy energy companies are starting to get into the space using burnoff to mine. This is something we're going to see more and more of going forward. They had a covert meeting earlier in the month to expand on this - https://www.cnbc.com/2021/09/04/bitcoin-miners-oil-and-gas-execs-talk-about-natural-gas-mining.html
Good day to buy HUT??? or will there be a further drop. Today's drop seems to be on the news of a secondary offering. For most companies, drop on secondary offering is usually a buying opportunity, but this stock has more than 10x in 1 year and doubled in the past 2-3 months.
What is best/safest way to fund a coinbase account? Is something like paypal to get money in there sufficient? Do you suggest setting up a bank account separate from your every day bank account for security purposes?
