That's a weee bit of a farce.
The next few mos are going to be FUD city for btc. Watch as multiple hit pieces start dropping regarding the upcoming mt gox distribution. Buckle up
OT: Bitcoin, Altcoins, NFT's & All Things Crypto
- Thread starter bob-loblaw
- Start date
The next few mos are going to be FUD city for btc. Watch as multiple hit pieces start dropping regarding the upcoming mt gox distribution. Buckle up
Funny, I actually got rid of ADA. There are absolutely no projects in the pipeline on ADA, no growth, nothing being built, and this was a protocol that I was optimistic about. SOL does have a much higher ceiling and will not go away. I believe ADA will be one of the layer 1's to go by the wayside.
ADA's development has been slow as molasses. So, I agree with your assessment. Much promise, little building. My DOT and ADA positions are very small compared to ETH and BTC. May as well hold on and see if one of them pops.
You're better off converting your ADA to ETH before the merge, tentatively scheduled in August.
That's a good idea. I need to get more ETH prior to the merge. Getting greedy with looking for ETH at $1500 and BTC at $25k.
By the way, what is your current assessment of GTBC and ETHE? Both have crazy discounts which will likely close up during a future bull run or GBTC's conversion to an etf.
I've been holding my GBTC for the etf and the next bull run for BTC. Not sure when, maybe the next halving for the bull run but I'm hoping this year for the etf, which would also trigger a bull rally for BTC as institutions add the etf to their portfolios.
I think it’s relative to their site where they are using Luna 2.0 to price the old Luna coins I own. Legit error in just a price mapping.
now my wife saw that and goes “transfer that to your bank account right now” 😂
This is still in beta-testing, but PhotoFinish is going to make it as a metaverse play. If they find a way to monetize through some form of gambling, the sky is the limit. You can buy and breed nft horses (FineFillies) and eventually watch them from your very own suite (The Suites).
Music to my ears form a few days ago.
I've been shilling ELA here for a while. Besides btc, it's the only crypto I continue to buy seriously. If this thing ever sees actual web 3.0 adoption, the upside is staggering. Will it happen? Prob not, but with a small market cap a listing on Coinbase is a catalyst to move price from $2 - $10 a token
I've been shilling ELA here for a while. Besides btc, it's the only crypto I continue to buy seriously. If this thing ever sees actual web 3.0 adoption, the upside is staggering. Will it happen? Prob not, but with a small market cap a listing on Coinbase is a catalyst to move price from $2 - $10 a token
Posted: 12/2/2021
Bitcoin price at time: $53-$56k
You can keep listening to the carnival barkers who want you to gamble, or listen to the ones who predict it correctly over time…
Hopefully many of you got out.
Will be interesting to see if those that felt they “missed the boat” jump in at these (or lower) prices. Or if more institutions buy here too.
This price action is confirmation for the skeptics imo. It hasn't acted as a hedge, its highly correlated with risk assets and hasn't proved to have any real world utility.
Institutions are backward looking and risk averse so I would say there is very little chance they come in now.
I have been watching this market for a while and never dipped my toes in for the reasons above plus many others. I will not be coming in any time soon and most likely never. But I will continue to watch to see if any of those issues are resolved. I'm not a conservative investor by nature I just never bought into the crypto story.
I really hope there isn’t a massive collapse because it’s going to take down the entire market. In the end Web3 and blockchain could help turn this economic mess around but first people need to realize that coins/tokens are nonsense. A few arrests would also help. It’s all about the tech not the coins/tokens!
Ebay is currently flooded with mining gear
When mining gear starts disappearing and prices soar, you know things are probably turning hot for awhile
When the same gear is being sold-off you know things will be cold for awhile
Crypto is a fever buy and the fever broke - as did the culty vibe it was taking on
It probably comes back for a run but I still think governments like it as way to condition people to digital
I never expected they would let it become established for long
Countries want their own digital and soon
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Nah - still here. Could I have took profits, of course. Im here to stay on btc.
I dont think a crypto crash is going to be the catalyst that takes down the markets :)
There's a lot of bad actors in the space. People who set up shitcoins. People like Do Kwon who thought he was invincible with Luna. The people who purposely sabotaged Luna. The people who have been trying to purposely destroy Celsius by attempting to force them to their liquidation point.
That last note is why Ive been seeing 21/22k as the potential bottom post-Luna. It's also the realized price and the 200 week moving avg for btc. Both of which have historically signalled a bottom for btc.
I've been buying btc pretty aggressively lately as I believe in it long term. It was fun a few days ago being on a flight w awful wifi watching this happen in real time. I'm really on the fence on what is going to happen here. I think the resolve of hodlers will keep the price in its current range. A flash crash into the 15-17k is a long shot IMO. If it happens I see it being gobbled back up quickly.
You'll be hearing fud soon on microstrategy, as well as mt gox reimbursement. Once one article comes out the other MSM will play its usual copycat game.
Lastly, I initiated moving my btc off of an "earn" account on Gemini. While I dont have great concerns about the major regulated platforms. There's been enough things happening in the last 2 years which "could never happen" that I'd rather play it safe
Obviously, folks know I’m not a card carrying crypto guy although the technology is interesting. My question is: why continue to buy even at these levels when it’s proven that it’s not a currency, not a store of value, not an inflation hedge, not digital gold, etc. I wish I could believe the story but there is virtually no use case or practical application for most or all of crypto including BTC. El Salvador is getting absolutely obliterated and will default soon which will put an even bigger question mark around BTC. What is the catalyst for BTC to go up?
I am only invested in ETH—did own BTC at one point as well but took some profits there and only kept in ETH…now I have been taken to the woodshed on it but have been able to capture losses For tax harvesting purposes(no wash sale rule)
why ETH for me? Like you said, I’m a believer in the technology not the coins/tokens but to invest in it I need the coins. I am only interested in layer 1 technology and the secure aspects of the blockchain where majority of developers are building around and that is ETH. I also think an eventual move to proof of stake will help it compete against some of these other layer 1/2 out there yet still hold its dominance.
for me, this whole space is so similar to the dot com bust…so many of these crypto
Companies will fade away but the technology will eventually be adopted over time similar to the internet and how that played out. I also believe there will be many new utilities adopted like tokenization which can be useful in the future for real world products. As far as the metaverse I can’t call myself a believer.
Respectfully, no one cares about El Salvador. It makes for a great story, but their adoption of BTC means nothing. I know why you keep bringing it up because it’s a recognizable government adopting it, but it’s relatively irrelevant to the broader crypto market.
As to use cases, saying there are none is off base. It’s a developing field/market. Is it established today- no. Will it develop from here- absolutely. That’s why I find it worth investing/following.
I know as BTC goes, so goes crypto, but I sold at $51 and Eth around $32 to buy into Sol and Sol alts. I believe in the tech and think it’s a worthy gamble, plus I enjoy NFTs there. Sol has gotten murdered with the rest, but I’m ahead because of the alts and NFTs. I know it’s not for everyone, but it’s clear to me there is a bright future.
Because it's all of the things you mentioned. We're just early. The use cases will grow. By the same token you say you wish you could believe the story, often times the story being put out by MSM is straight shit.
Either way, this year is not going to be good for stocks, crypto, the economy, et al. Short term there is no catalyst, which is why I'm not making any major btc purchases, just slow smaller buys. Long term, its a programmatic currency that cannot be f'd with. My belief that it will see mass adoption has not wavered.
I’ve looked at Solana. I actually found it quite interesting until I read the documentation on the site. Most of which is next to impossible to understand. Yes, I tried. The main thing that stood out is why do you even need clusters, validators, stakers, etc.? The economic model underlying staking rewards is simply unnecessary IMO. Private blockchain solutions are able to validate and replay a ledger. And algos can do the same exact thing as validators and stakers without having to deal with “rewards”. Just Let a company take the open source software, build whatever application they want, and charge a transaction fee. Nobody in the real world cares about decentralization.
I don’t think there’s anything stopping private blockchain companies from competing. They’d just have to do it better and attract people there like anything else.
That’s always been my thought and one of the reasons I bought Square/Block, although I’ve gotten my ass handed to me on that investment. When it comes to launching a blockchain product/application the overwhelming majority of people won’t know or care whether it’s decentralized. I would argue that decentralization makes commercializing and scaling a product/application infinitely harder. And once you get rid of decentralization, the entire reward/coin/token model basically collapses. I actually think NFTs would be better served with a more traditional model similar to registering and building a website.
They will when the caravans headed for our southern border swell by another 200-300,000.
They disappear back into the tree stump when that happens. But I love when they come out from hiding….provides a good buy signal.
Definitely thinking this tests the 2018 highs, I think it breaks below and will look into a trade if it finds a bottom below that.
Though I'm done with Coinbase and their fee's. I'll just buy funds or miners.
Though I'm done with Coinbase and their fee's. I'll just buy funds or miners.
I've been using Strike for the last few months. Zero fees. I've been very happy with their product.
I use them to purchase ELA on Kucoin. Zero fee btc purchase, then withdraw over to Kucoin and purchase ELA. Chase no longer allows Banxa crypto purchase "for my own safety" so this was my workaround. And honestly, It's worked out better.
I have been using Strike since it has been available. Works great, never had any issues.
Question: How do you know that the price you pay for BTC on Strike doesn't bake in a vig? When I check crypto prices on Coinbase, Coingecko, etc in real time, the prices all vary.
I think the reality is, they all do to some extent. I've tried simultaneous buys on 3 diff devices using Strike, Gemini & Robinhood at $25, $50 & $100 price points. Strike delivered the most BTC each time.
There's also no withdrawal or maker/take fees on Strike, which I like.
There's also no withdrawal or maker/take fees on Strike, which I like.
Side note, anyone use BlockFi and earning rewards on btc or other crypto assets? Might be a REAL good time to begin the process of getting possession of your coins again. Not saying BlockFi goes, but the next few months are not going to be pretty. Over leveraged firms/companies are going to continue the trickle down effect of getting flushed out. The risk far outweighs the short term yield.
I think ETH has downside to the $700 range in the next few mos. I've said this in the past, but I'm concerned in the long term viability in the Ethereum network. Speed is shit, fees are idiotic and these wrapped protocols on top of it are quite concerning
A great read on the state of ETH
insights.glassnode.com
The Great DeFi Deleveraging
The Ethereum DeFi market is undergoing a dramatic deleveraging, with over $124B in capital flushed out in just six weeks. The Ethereum investor base is now heavily underwater on spot positions, and is locking in historically large realized losses.
insights.glassnode.com
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