But ETH also has the most developers building on their chain. What would be your play instead then for layer 1s?
OT: Bitcoin, Altcoins, NFT's & All Things Crypto
- Thread starter bob-loblaw
- Start date
It does. Im just concerned by the defi flush that honestly just started. Also concerned about speed/fees, the switch to PoS and the deflationary future of the token. Also concerned by layers running on Bitcoin.
I don't think it's going anywhere any time soon, I just think everything occurring in the space is opening up the door for more competition.
Just getting started. Hope it’s not a F’d up weekend.
cointelegraph.com
Three Arrows Capital has failed to meet margin calls: Report
Rumors of 3AC's insolvency continue to swirl.
cointelegraph.com
Don't have much interest in giving my info to yet another crypto broker. Feel signing up to Kucoin could eventually haunt me.
I'll just play it through stocks.
When Jack Mallers put the BTC tab on strike he was taking aim at Coinbase and their ridiculous fees. He Stated he wanted strike to be the cheapest place to purchase BTC. Strike takes no fee outside of the market spread. In the beginning they took an execution cost of .3% with the goal of bringing it down to .1%. Strike also leverages the lightning network to send/receive instantaneously. This allows the transactions to get reconciled after the fact as a batch instead of reconciling them one by one.
Oh the dominoes will continue to fall. I fell bad for those who bleed, but it needed to happen.Just getting started. Hope it’s not a F’d up weekend.
Three Arrows Capital has failed to meet margin calls: Report
Rumors of 3AC's insolvency continue to swirl.
Yeah, its annoying. At this point I only really use Kucoin for Elastos. It'll be on Coinbase soon, so thatll eliminate that need
…and here we go…Just getting started. Hope it’s not a F’d up weekend.
Three Arrows Capital has failed to meet margin calls: Report
Rumors of 3AC's insolvency continue to swirl.
Bitcoin sinks below $19,000 as crypto meltdown intensifies
Crypto investors are grappling with aggressive interest rate hikes from the U.S. Federal Reserve and a worsening liquidity crunch.
Yeah, it's been suspected on Twitter for the last 4 days now…and here we go…
Bitcoin sinks below $19,000 as crypto meltdown intensifies
Crypto investors are grappling with aggressive interest rate hikes from the U.S. Federal Reserve and a worsening liquidity crunch.www.cnbc.com
Yes indeed. I was just offering a solution as you said you didnt want another platform.
I guess it depends how large your purchase on Coinbase is. If you're buying 5-10k of bitcoin, you're really banking on 2x, 3x or more in gains so the fees are relatively small in the big picture. To me its the price execution that is the most important factor when buying/selling.
The Crypto Party Is Over
The cryptocurrency industry was built on swagger, enthusiasm and optimism. All three are in short supply these days, as losses and layoffs mount.
www.wsj.com
Recycling the same articles from 2018 😂
The Crypto Party Is Over
The cryptocurrency industry was built on swagger, enthusiasm and optimism. All three are in short supply these days, as losses and layoffs mount.
Lol. I love shit like this. The MSM article recycling is about to go full bore.The Crypto Party Is Over
The cryptocurrency industry was built on swagger, enthusiasm and optimism. All three are in short supply these days, as losses and layoffs mount.
The realty is that the current situation is bad. 3AC being insolvent is probably just the beginning. There will be a staggering amount of noise in the coming months. I hate to say that this needed to happen, but it did. People got greedy with leverage and yields on shit coins, just like people thought pets.com, etoys, theglobe, go.com, or any of the other random 1999 era websites were good investments. Amazon and Google rose from those ashes. My opinion that btc is that beacon.
I'll continue to buy btc throughout this storm. I'll buy ELA as well, as that will easily double in price due to the small market cap. I wont touch another alt any time soon. My long term opinion of btc has not changed. 1mm a coin by the end of the decade.
I don’t know where the money will come from to push BTC higher. Money has to come from somewhere and aside from so much crypto wealth getting wiped out, it’s not like people can shift money from the stock market over to crypto especially with tech in the crapper. It’s the tech investors that were most bullish on crypto and those dudes are licking their wounds. There’s no crypto catalyst and no money. Wouldn’t surprise me if it’s at $5K or lower by year end. But if someone can make a bull case here I’m all ears.
Love to hear your thoughts and @bob-loblaw on buy levels for BTC and ETH. Since the drop was so quick, I have to waiting with cash ready to go. I continue to eye GBTC and ETHE again due to the discount.
This is the downside of Grayscale, but the positive is buying at such a discount. These discounts will likely flattened as the stock market gets back to bullish or GBTC becomes an ETF. Interesting times! :)
If I recall, you’re initial bullishness on BTC was due to concerns about price instability of the dollar (maybe other fiat currency as well). Now that we have 4 decade highs in inflation, has your reasoning changed? I mean, a 70% decline in BTC at a time where the thesis was BTC would be a store of value in such times has to cause one to reassess the thesis, right? Said differently, I’ve invested in distressed assets through a few cycles. And during the GFC, held binds that literally fell to 20% (not yield, percentage of par). It was a huge gut check. I re-examined my analysis, night after night and concluded that my thesis was correct. But I did that through extensive research on a business, it’s cash flow, it’s ability to pay its interest, etc. How do you do that with BTC?
Edit to add:
1. Thesis creep is one of the cardinal sins that many smart investors make. Classic example is merger arbitrage. Investor buys stock in anticipation of making a small premium at the takeout price, and the deal falls through sending the stock lower (often lower than the orevid price). And the mergers arb investor holds on to the stock, because now it’s just too cheap. Classic thesis creep. Or holding in when an event plays out but doesn’t lead to the stock price reaction previously expected.
2. Many successful investors refrain from offering their ideas unless forced to do so for at least two reasons. First, other investors may copy them taking away the price advantage. This is a Buffett problem, but not generally an issue for individual investors. Second is a big issue, and it’s confirmation bias. Once you’ve pounded the table on an investment publicly, research shows you’re less likely to change your opinion when facts change, This is a huge issue. I’d call it a massive problem for, say Cathie Wood.
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Reinventing Anna - "Anna Sorokin, known for taking hundreds of thousands of dollars from friends and businesses while posing as a German heiress, said she's trying to move away from the "scammer persona" and plans to launch a collection of NFTs" https://www.nbcnews.com/pop-culture...y-nft-interview-rcna33811?cid=sm_npd_nn_tw_ma
This won’t age wellThe Crypto Party Is Over
The cryptocurrency industry was built on swagger, enthusiasm and optimism. All three are in short supply these days, as losses and layoffs mount.
I think we will see institutions push more into btc. They already have in a small scale because they basically had to based on its rise. At this price (and the price that it bottoms at), it will end up being a nice place for them to park some money.
So you think given all of the stock market and crypto mayhem that institutions are now going to “push more into crypto”? Sorry - without sounding like a total d-head - are you f’in insane? Legit Institutions won’t touch that stuff unless it hits rock-bottom. And $18K ain’t close to bottom.
It’ll bottom out in the $12-15k range….consolidate for awhile and then explode once again. Smart money is buying both crypto and stocks.
then, they aren't smart money....
and if you want to try to catch that falling elevator, have at it...
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1- despite your best attempts, you still “sound like a total d-head.” This is a great thread for us to discuss a developing technology without it turning to name calling for once. Not once will I see an opposing opinion and call someone f’in insane, but I guess that’s me.
2- yes, institutional and VC money are eating this dip and will continue to do so. https://www.thecoinrepublic.com/202...erest-in-crypto-sphere-glassnode-co-founders/
Yeah, we heard that at $50K…$45K…$30K…$25K…smart money isn’t touching crypto anytime soon. Not a SINGLE prediction or use case has been proven to be true. It will hit single digits before any serious buyers step in (maybe). All I can say is go read the underlying documentation for these crypto projects - none of it makes sense. Almost as if it was written as a joke by some computer science wiz.
Stop reading BS articles and go read the project documents for all of this “developing technology”. Insanity is doing the same thing over and over again and expecting a different result. The crypto guys on this thread have said the same thing every leg down - that crypto has bottomed. Then it drops again. Then they say it’s bottomed. Rinse and repeat. If that’s not the definition of insanity then let’s agree to disagree. But, again, I encourage you to read the underlying documents posted on the project sites.
That article legit reads like a bot wrote it, and not a particularly good bot either.
My point is I respect your opinion while not agreeing with it. Let’s try to keep it that way. Thank you for the advice, my biggest crypto holding is well above water so I’m good.
Funny story- I told my 66 year old, fiscally conservative uncle about my crypto/nft dealings at Christmas. He’s a cfo and veteran of some of NJ’s biggest telecoms. He took it all in and shook his head. I saw him again today. He told me a company he is working with is raising funds via an nft next month and he gets it now. Adoption is coming in many forms.
😂 if you say so. Spoken like someone new to crypto. It ain’t going to single digits.
I have to laugh - from what I can tell, everyone's "most important" cryto holdings are "well above water".... I haven't met a board poster yet who told me "shit, I've lost 6-7 figures net"....
Search my posts. $shdw has been my biggest holding since November. Solana my second and up there too due to NFTs. Bought btc at 14, sold at 51. The point of the message board is to interact with real people and not those in all the articles we all post
Elon Musk Suddenly Hit With Huge $258 Billion Crypto Pyramid Scheme Lawsuit Over Dogecoin Amid A Devastating Bitcoin And Ethereum Price Crash
Elon Musk, who has the power to create and destroy billions of dollars worth of bitcoin and crypto value with just a tweet, has helped the meme-based dogecoin become a top ten cryptocurrency over the last 18 months...
www.forbes.com
Surprised it took this long
The lawyers are salivating over Musk’s Doge transaction records. Not to mention there were articles claiming that Musk’s kids were buying/pumping Doge so this could get real interesting, real fast. Not to mention that Musk put so much crap on Twitter and social media that there may be enough there for plaintiffs to get to trial.Elon Musk Suddenly Hit With Huge $258 Billion Crypto Pyramid Scheme Lawsuit Over Dogecoin Amid A Devastating Bitcoin And Ethereum Price Crash
Elon Musk, who has the power to create and destroy billions of dollars worth of bitcoin and crypto value with just a tweet, has helped the meme-based dogecoin become a top ten cryptocurrency over the last 18 months...
Surprised it took this long
I think he can afford a lawyer or two...
I'd imagine Elon is sued 6-8 times a week...
I doubt it gets far...
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