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

rcube1994 said:
Elastos announced the launch of BeL2, a Layer 2 network built on Bitcoin, to introduce sophisticated BTC transactions on its blockchain.

crypto.news

Elastos eyes $700b Bitcoin staking market with Layer 2 network

Elastos announced the launch of BeL2, a Layer 2 network built on Bitcoin, to introduce sophisticated BTC transactions on its blockchain.
crypto.news crypto.news

Can someone summarize what this means? Its up 70% today.
Click to expand...

It means that a company is promising to deliver “something” so a combination of the founders that hold the lions share of the currency that is treated like a stock are wash trading the number up and some marks are piling in. In a few years there will be a bankruptcy and mugshots.
 
rcube1994 said:
Elastos announced the launch of BeL2, a Layer 2 network built on Bitcoin, to introduce sophisticated BTC transactions on its blockchain.

crypto.news

Elastos eyes $700b Bitcoin staking market with Layer 2 network

Elastos announced the launch of BeL2, a Layer 2 network built on Bitcoin, to introduce sophisticated BTC transactions on its blockchain.
crypto.news crypto.news

Can someone summarize what this means? It’s up 70% today.
Click to expand...
In short it means that apps will be able to build on Bitcoin more seamlessly than they currently can.
 
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ScarletNut said:
Helium rewarding was much more profitable when it first came out. Now, from everything I've read, the rewards are too small to make up for the price of buying a node and take much longer to at least break even. Try looking into DIMO, easy money with a simple device to hook up in your car. The reward token is airdropped weekly, all you have to do is drive your car at least once a week, no mileage requirements.
Click to expand...
So this has taken an unexpected turn…
• the Solana phone (saga) released 20k units early in 2023. Sales were slow, mostly early adopters and developers looking to see what they could build on it.
• The Solana meme coin $bonk airdropped coins to the phone in January that weren’t worth much. Now that $sol is running, that $bonk is worth as much as the cost of the phone.
• The phones sold out last week. The outdoor helium hot spots are now sold out and the indoor ones are going fast.

So there are now thousands more helium miners out there. I would assume that will dilute the rewards but it’s also adding more coverage to the network, making for easier adoption. $hnt up 340% in the last month.
 
Rutgers Chris said:
So this has taken an unexpected turn…
• the Solana phone (saga) released 20k units early in 2023. Sales were slow, mostly early adopters and developers looking to see what they could build on it.
• The Solana meme coin $bonk airdropped coins to the phone in January that weren’t worth much. Now that $sol is running, that $bonk is worth as much as the cost of the phone.
• The phones sold out last week. The outdoor helium hot spots are now sold out and the indoor ones are going fast.

So there are now thousands more helium miners out there. I would assume that will dilute the rewards but it’s also adding more coverage to the network, making for easier adoption. $hnt up 340% in the last month.
Click to expand...
On a similar note, DIMO hit .85 yesterday. The weekly rewards are getting very profitable. Just put another AutoPi in my wife’s car. Sold some DIMO at .65. Both my AutoPi’s are paid for and the free tokens keep coming. Why not get paid for the data instead of having it sold off like the big boys, including Tesla that gathers your data on their cars
 
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ashokan said:
THIS is always where they wanted to go.

" CEO Jamie Dimon lashed out at bitcoin and its peers, suggesting in remarks Wednesday on Capitol Hill that cryptocurrencies should be banned.

“I’ve always been deeply opposed to crypto, bitcoin, etc.,” the head of the largest U.S. bank by assets said under questioning from Sen. Elizabeth Warren, D-Mass., during a Senate Banking Committee hearing. “The only true use case for it is criminals, drug traffickers … money laundering, tax avoidance.”

“If I was the government, I’d close it down,” he added."


Click to expand...
Listen to what they do, not what they say…
 
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xWVU2010x said:
It means that a company is promising to deliver “something” so a combination of the founders that hold the lions share of the currency that is treated like a stock are wash trading the number up and some marks are piling in. In a few years there will be a bankruptcy and mugshots.
Click to expand...
A+ expert commentary on somet5hing you know zero about.

rcube1994 said:
Elastos announced the launch of BeL2, a Layer 2 network built on Bitcoin, to introduce sophisticated BTC transactions on its blockchain.

crypto.news

Elastos eyes $700b Bitcoin staking market with Layer 2 network

Elastos announced the launch of BeL2, a Layer 2 network built on Bitcoin, to introduce sophisticated BTC transactions on its blockchain.
crypto.news crypto.news

Can someone summarize what this means? Its up 70% today.
Click to expand...
Happy to see someone else posting about ELA here. At this point, its the only crypto I hold besides Bitcoin. In typical Elastos fashion, the announcement was out there for a week, with zero fanfair, before one of the major crypto publications ran with it, and drove the price from 1.25 to ~$7.

I've been holding this for the last three years now and this has been an ongoing issue. They're terrible at marketing and self promoting. There's been some improvements in the Cyber Republic (the DAO that controls the foundation, contrary to the Mountaineer wizards comments) but its finally starting to get legs. I havent gotten a chance to read the whitepaper on Bel2 yet.

The baseline Elastos project is a pretty impressive web3.0 project. From what I see, the L@ staking functionality will drive more usage of the ELA token. Given that the tokenomics of ELA are pretty damn good. 28mil max circulation, ~22mm in circ now. The price could easily pop from where it presently is. And as I've said in the past, if there web 3.0 play ever sees true usage, the sky is the limit.

Sidenote on L2, bitcoin layer 2 is going to eat ETH for lunch in the coming 18 mos. Just throwing that out there.
 
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bob-loblaw said:
A+ expert commentary on somet5hing you know zero about.


Happy to see someone else posting about ELA here. At this point, its the only crypto I hold besides Bitcoin. In typical Elastos fashion, the announcement was out there for a week, with zero fanfair, before one of the major crypto publications ran with it, and drove the price from 1.25 to ~$7.

I've been holding this for the last three years now and this has been an ongoing issue. They're terrible at marketing and self promoting. There's been some improvements in the Cyber Republic (the DAO that controls the foundation, contrary to the Mountaineer wizards comments) but its finally starting to get legs. I havent gotten a chance to read the whitepaper on Bel2 yet.

The baseline Elastos project is a pretty impressive web3.0 project. From what I see, the L@ staking functionality will drive more usage of the ELA token. Given that the tokenomics of ELA are pretty damn good. 28mil max circulation, ~22mm in circ now. The price could easily pop from where it presently is. And as I've said in the past, if there web 3.0 play ever sees true usage, the sky is the limit.

Sidenote on L2, bitcoin layer 2 is going to eat ETH for lunch in the coming 18 mos. Just throwing that out there.
Click to expand...
Damn, every time you post about Elastos I buy a little more, lol. Do you have any thoughts on DIMO? It’s gotten a nice chunk of free mo ey these past 3-4 months
 
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bob-loblaw said:
A+ expert commentary on somet5hing you know zero about.
Click to expand...
There has yet to be a crypto innovation other than the original concept of Bitcoin that couldn’t exist without a coin attached to it, so whenever there is a coin attached to some BS project, it is a scam until proven otherwise. The original creation simply rebooted inspiration for the very old idea of privatized money, every idea out there is done with the intention of boosting belief in their own private money, not about solving an issue and actually being a real company. Feel free to disagree, but any altcoin falls into this bucket for me.
 
xWVU2010x said:
There has yet to be a crypto innovation other than the original concept of Bitcoin that couldn’t exist without a coin attached to it, so whenever there is a coin attached to some BS project, it is a scam until proven otherwise. The original creation simply rebooted inspiration for the very old idea of privatized money, every idea out there is done with the intention of boosting belief in their own private money, not about solving an issue and actually being a real company. Feel free to disagree, but any altcoin falls into this bucket for me.
Click to expand...
So I dont fully disagree with you. Elastos has a legitimate web3.0 project that exists on a fully decentralized nature. If it can see adoption, it will havd true utility, with the ELA token being the currncy of the network. Is it a long shot, yes. But, of all the crypto projects Ive researched in the last 3.5 yrs, this is the only one I have steadfast belief in.Its all amater of if it seems adoption.

The bel2 Layer 2 btc protocol is a smart play for them. It will spur interest in the Elastos project by allowing people to stake ELA tokens for BTC rewards.
ScarletNut said:
Damn, every time you post about Elastos I buy a little more, lol. Do you have any thoughts on DIMO? It’s gotten a nice chunk of free mo ey these past 3-4 months
Click to expand...
Glad to hear :)
Unfort, I never looked into it. I essentially tapped out of alt coins in the last 6mos. Im sur theres plenty of $$ to be made in the space, I just dont have it in me to find a project before the inevitable rug pull happens.
 
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I meant to do this last week at the start of the year, but forgot. As ETF approval is upon us, let’s get some predictions in writing.

BTC will hit a high of ______ this year.

I’ll go conservative and say $110k

Solana to $750 for good measure.
 
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Rutgers Chris said:
I meant to do this last week at the start of the year, but forgot. As ETF approval is upon us, let’s get some predictions in writing.

BTC will hit a high of ______ this year.

I’ll go conservative and say $110k

Solana to $750 for good measure.
Click to expand...
I honestly can't predict since the last cycle brought 100k predictions and higher. I'll gladly settle for your "conservative" predictions, especially your Solana number. I do think Ethereum will hit 4k this year though and the crypto advisor that I follow and who has been right on 99.9% of his predictions and timing feels that there will be a "flippening" of Ethereum and Bitcoin by the end of the decade.
 
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ScarletNut said:
I honestly can't predict since the last cycle brought 100k predictions and higher. I'll gladly settle for your "conservative" predictions, especially your Solana number. I do think Ethereum will hit 4k this year though and the crypto advisor that I follow and who has been right on 99.9% of his predictions and timing feels that there will be a "flippening" of Ethereum and Bitcoin by the end of the decade.
Click to expand...
Just saw that Grayscale is only going to lower GBTC fee to 1.5% after the ETF conversation. Blackrock is going to be 0.30% and Fidelity at 0.39%. I have to assume tons of people are going to dump GBTC right after approval. Just an FYI.
 
Rutgers Chris said:
I meant to do this last week at the start of the year, but forgot. As ETF approval is upon us, let’s get some predictions in writing.

BTC will hit a high of ______ this year.

I’ll go conservative and say $110k

Solana to $750 for good measure.
Click to expand...
My biggest question is will we have a temporary sell the new dump. It's making be gun shy to plow into miner calls! LOL. If there is a dump, I will buy the s out of it.

Overall, BTC to $100k seems like a legit possibility with ETH to $5k'ish. Lots of money is going to flow into the market via the ETFs. Should be fun to watch!
 
The price has been factored in for the last 2 major btc events $coin ipo & El Salvador legal currency date. both of those events saw crashes shortly thereafter.

The stars appear to be aligning this year for btc so who knows where we'll hits. At this point I would be surprised by nothing. Anything from $25k - $500k is in play IMO. Then there's Samson Mow on Twitter, who is an og btc person, he's calling for $1mm within weeks. Im sure its "possible", but I view it as someone trying to assert himself as the guy. If he's right, he's on a traditional media tour, if he's wrong, it'll get buried in the noise. It's the Balaji playbook from several months back.

We shall see. I just keep stacking sats. I direct deposit into btc every week.
 
bob-loblaw said:
The price has been factored in for the last 2 major btc events $coin ipo & El Salvador legal currency date. both of those events saw crashes shortly thereafter.

The stars appear to be aligning this year for btc so who knows where we'll hits. At this point I would be surprised by nothing. Anything from $25k - $500k is in play IMO. Then there's Samson Mow on Twitter, who is an og btc person, he's calling for $1mm within weeks. Im sure its "possible", but I view it as someone trying to assert himself as the guy. If he's right, he's on a traditional media tour, if he's wrong, it'll get buried in the noise. It's the Balaji playbook from several months back.

We shall see. I just keep stacking sats. I direct deposit into btc every week.
Click to expand...
I really hope there is some "sell the news". I would buy the s out of the dip.
 
bob-loblaw said:
The price has been factored in for the last 2 major btc events $coin ipo & El Salvador legal currency date. both of those events saw crashes shortly thereafter.

The stars appear to be aligning this year for btc so who knows where we'll hits. At this point I would be surprised by nothing. Anything from $25k - $500k is in play IMO. Then there's Samson Mow on Twitter, who is an og btc person, he's calling for $1mm within weeks. Im sure its "possible", but I view it as someone trying to assert himself as the guy. If he's right, he's on a traditional media tour, if he's wrong, it'll get buried in the noise. It's the Balaji playbook from several months back.

We shall see. I just keep stacking sats. I direct deposit into btc every week.
Click to expand...
I just listened to Mow's interview on Cointelegraph. He makes a compelling point, just a matter of if it plays out the way he foresees it.
 
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What a bunch of morons.

502ca8e9-ab61-4cb6-b3bf-37766fe944a2_text.gif
 
I've been trying to figure out how the various bitcoin ETFs are priced. I realize there are different fees for each of them but can someone explain why the ETF price varies so much among the individual ETFs?
 
ScarletNut said:
I've been trying to figure out how the various bitcoin ETFs are priced. I realize there are different fees for each of them but can someone explain why the ETF price varies so much among the individual ETFs?
Click to expand...
Sorry, no f'ing clue as of now. I am watching FBTC. It quickly spiked to $50, but then has been drifting down to the low $40s (at $41.20) with a volume of about 9 million. Not sure how long it will take for the dust to settle.
 
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