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

[ashokan]

Musk has been weird on Bitcoin. He sends it up promoting it last Feb, and then he tanks it saying it has too many toxic ties to fossil fuels. Surely he knew that back in Feb. I'm sure he also knows how much China pollutes but he wont be pulling the rug from under China manufacturing. Looks like somebody got to Musk. In any case thats a problem with crypto - a billionaire can open his mouth and crypto flys through the roof or crashes into basement

 

[bob-loblaw]

Well I sure as hell picked a bad time to be on vacation. I managed to pick up a healthy amt more of BTC & Eth yesterday morning. Took about 20 tries to connect to my exchange, only to be made worse by crappy hotel internet fed through a vpn... fun times.

Its been pretty painful seeing the ~50% haircut I've taken in the last week. I was venting in my crypto sms group who all proceeded to mock me. The concensus was "welcome to life in 2018"

I havent gotten a chance to dig into any onchain reports to see what really happened.

For now, I'll leave this here, as it seems it wasnt elon related

 

[RU-05]

I'm fairly new to this, so I'm relying on a friend of mine who's been doing it for a while. He recommended ADA Cardano because of something along the lines of digital documents, peer reviewed, and the cost of mining is cheap. Sounded logical to me, so I got in when it was 1.13. Another one he recommended was Cosmos, but I haven't bought it yet. I'll have to check out DOT.

Brian Kelly who is often on Fast Money had Cosmos as his #1 under the radar crypto recommendation.

 

[NickRU714]

Can we all agree "Crypto" has jumped the shark?

Not anyone here - you all seem very knowledgeable and intelligently discuss the market.

But every Tom, Jane and Harry on IG are hocking "I'm buying the dip".
Did you? Took time out from posting workout videos of yourself to give sage financial advice?

When they are all "invested" with about $200.

 

[RU-05]

Can we all agree "Crypto" has jumped the shark?

Not anyone here - you all seem very knowledgeable and intelligently discuss the market.

But every Tom, Jane and Harry on IG are hocking "I'm buying the dip".
Did you? Took time out from posting workout videos of yourself to give sage financial advice?

When they are all "invested" with about $200.

I think "jumped the shark" has jumped the shark.

Well, like the Fonz himself, I guess that actually happened a long time ago, but people keep saying it. So maybe that means people keep buying crypto?

And don't get me started on the definition of insanity.

 

[NickRU714]

I think "jumped the shark" has jumped the shark.

Well, like the Fonz himself, I guess that actually happened a long time ago, but people keep saying it. So maybe that means people keep buying crypto?

And don't get me started on the definition of insanity.

Hey! I'm only late 30s.
I still rememeber Happy Days reruns.

I should ask my brother and sister (early 20s) if they know the saying and it's origin.

 

[bob-loblaw]

/Can we all agree "Crypto" has jumped the shark?

Not anyone here - you all seem very knowledgeable and intelligently discuss the market.

But every Tom, Jane and Harry on IG are hocking "I'm buying the dip".
Did you? Took time out from posting workout videos of yourself to give sage financial advice?

When they are all "invested" with about $200.

If you believe what every tom dick or harry is saying on social, I have a bridge to sell you. Most people who are "living their best life" on social are usually living the exact opposite life in reality or are so devoid of an emotional connection that they resort to social for support. But I digress, this is a crypto thread.

In regards to the current environment. I've been saying for mos now that nothing from 30k- 75k would surprise me. Looks like we hit that floor. Really curious to see how much was scooped up institutionally during this dip.

Here's a good read for anyone with an open mind regarding crypto. It's a bit heavy on conspiracy, but there's validity in a lot of the points made.

 

[T2Kplus20]

Well I sure as hell picked a bad time to be on vacation. I managed to pick up a healthy amt more of BTC & Eth yesterday morning. Took about 20 tries to connect to my exchange, only to be made worse by crappy hotel internet fed through a vpn... fun times.

Its been pretty painful seeing the ~50% haircut I've taken in the last week. I was venting in my crypto sms group who all proceeded to mock me. The concensus was "welcome to life in 2018"

I havent gotten a chance to dig into any onchain reports to see what really happened.

For now, I'll leave this here, as it seems it wasnt elon related

View embedded media

Good perspective on the past few days:

 

[Caliknight]

There is zero chance governments don't start taxing this. There is no way they are going to allow shadow currencies to go unfettered and unregulated.

Treasury Calls for Crypto Transfers Over $10,000 to Be Reported to IRS

 

[RU-05]

There is zero chance governments don't start taxing this. There is no way they are going to allow shadow currencies to go unfettered and unregulated.

Treasury Calls for Crypto Transfers Over $10,000 to Be Reported to IRS

I'd think if they regulate the marketplaces ala Coinbase, this would all be a lot easier to keep track of.

 

[T2Kplus20]

There is zero chance governments don't start taxing this. There is no way they are going to allow shadow currencies to go unfettered and unregulated.

Treasury Calls for Crypto Transfers Over $10,000 to Be Reported to IRS

Kind of hard to control someone that nobody has direct control of. Regulating exchanges is likely the best the gov can do, which is pretty stupid since I doubt criminals use Coinbase for transactions (since it is more traceable).

 

[Caliknight]

I'd think if they regulate the marketplaces ala Coinbase, this would all be a lot easier to keep track of.

Whatever it is, there is zero chance any government is going to allow an unregulated crypto currency that ties back to fiat currency to not be regulated. As we can see, it's already on their radar which means it's happening.

 

[RU-05]

Whatever it is, there is zero chance any government is going to allow an unregulated crypto currency that ties back to fiat currency to not be regulated. As we can see, it's already on their radar which means it's happening.

But this was already a story in Dec I believe.

And though it may have been a surprise to some, it shouldn't have been. If you are making a bundle by buying and selling crypto, of course it is going to get taxed, as it should.

 

[Caliknight]

It's going to continue being a story until the laws are passed.

If I am using a crypto currency that does nothing more than tie back to fiat currency, it's not really going to do what it is designed to. The only way this works if it everyone is using in lieu of other currencies and it doesn't tie back to any of them. It's stand alone.

As it is now, it's little more than an oddity of an investment. The tech of blockchain is more interesting and useful than the currency itself. Listen, I get it, I invested in Eth 3 years ago on nothing more than some advice from someone I know who is really smart. Got lucky.

But this isn't going to revolutionize the world by removing it from hard currencies. Governments will simply never allow that to happen.

 

[RUAldo]

Good perspective on the past few days:

View embedded media

Since you don’t bother to research who makes the stupid videos you post, I’ll help folks out. Altcoin Daily was founded by Aaron Arnold whose LinkedIn job title is “Content Creator Extraordinaire”, has appeared in commercials for Burger King and Sprint, and has a BA in Theater Performance. He also wrote a dark comedy call “Papua”. But, thank you for providing us with insight from a film/TV actor on which we are supposed to make investment decisions.

 

[RUAldo]

Since you don’t bother to research who makes the stupid videos you post, I’ll help folks out. Altcoin Daily was founded by Aaron Arnold whose LinkedIn job title is “Content Creator Extraordinaire”, has appeared in commercials for Burger King and Sprint, and has a BA in Theater Performance. He also wrote a dark comedy call “Papua”. But, thank you for providing us with insight from a film/TV actor on which we are supposed to make investment decisions.

In other words, he’s a shill that produces content and is likely paid by crypto creeps that want to pump the industry. He’s probably on the Gemini payroll.

 

[RU-05]

It's going to continue being a story until the laws are passed.

If I am using a crypto currency that does nothing more than tie back to fiat currency, it's not really going to do what it is designed to. The only way this works if it everyone is using in lieu of other currencies and it doesn't tie back to any of them. It's stand alone.

As it is now, it's little more than an oddity of an investment. The tech of blockchain is more interesting and useful than the currency itself. Listen, I get it, I invested in Eth 3 years ago on nothing more than some advice from someone I know who is really smart. Got lucky.

But this isn't going to revolutionize the world by removing it from hard currencies. Governments will simply never allow that to happen.

1)It seems to people who understand crypto, it is all about the blockchain tech. People on the fringes are not even aware of the tech.

2)We don't really know where this all goes, but just a little theory, (one that I've kind of heard from pros in the sector) what if Crypto, acts as a proxy US dollar for people who live in countries where their home currencies have no stability? And we know there are plenty of countries that would fit that bill. If I'm not mistaken I believe there are coins which link directly to the price of the dollar.

Perhaps if the US is quick to regulate, they can take some control of it's use, and in essence make them a digital dollar, and thus expand the dollar's presence?

If I were King maybe.

 

[RU-05]

In other words, he’s a shill that produces content and is likely paid by crypto creeps that want to pump the industry. He’s probably on the Gemini payroll.

Probably is a pretty strong word in this instance.

 

[RU-05]

CBDC

 

[T2Kplus20]

1)It seems to people who understand crypto, it is all about the blockchain tech. People on the fringes are not even aware of the tech.

2)We don't really know where this all goes, but just a little theory, (one that I've kind of heard from pros in the sector) what if Crypto, acts as a proxy US dollar for people who live in countries where their home currencies have no stability? And we know there are plenty of countries that would fit that bill. If I'm not mistaken I believe there are coins which link directly to the price of the dollar.

Perhaps if the US is quick to regulate, they can take some control of it's use, and in essence make them a digital dollar, and thus expand the dollar's presence?

If I were King maybe.

Agreed, blockchain is the big value, especially for ETH and ETH-wannabes. The good things about thinking about regs now is that we have a SEC chair that actually understands crypto and the tech. This is a big help. Yellen and the others don't have a clue.

 

[RUAldo]

Probably is a pretty strong word in this instance.

There is so much bogus information out there and everyone is playing an angle. T2kplus20 reminds me of my kid when he shows me a pic of a 192 lbs largemouth bass and I say “buddy, you ever hear of photoshop?” Or when my son plays a Googin Squad video where they catch a bass on 19 consecutive casts and I say “pal, do you know anything about video editing?” You know there is a problem when “Guy the crypto guy” is the internet authority on all things crypto.

 

[T2Kplus20]

Probably is a pretty strong word in this instance.

In Aldo's World of Stupid, everyone that believes in crypto = paid shill, hack! Anyone that doesn't like cryptos = unbiased source.

Aldo =

But he is always good for a laugh.

 

[RU-05]

Agreed, blockchain is the big value, especially for ETH and ETH-wannabes. The good things about thinking about regs now is that we have a SEC chair that actually understands crypto and the tech. This is a big help. Yellen and the others don't have a clue.

Powell talking about a Central Bank Digital Coin today.

 

[RU-05]

Kate Rooney reports Institutions came in and bought the dip yesterday. Noted the 30K level, but obviously it bounced well above that.

 

[RUAldo]

In Aldo's World of Stupid, everyone that believes in crypto = paid shill, hack! Anyone that doesn't like cryptos = unbiased source.

Aldo =

But he is always good for a laugh.

Show us a legitimate source.

In Aldo's World of Stupid, everyone that believes in crypto = paid shill, hack! Anyone that doesn't like cryptos = unbiased source.

Aldo =

But he is always good for a laugh.

All we ask is that you vet your sources of misinformation. Your all-star line up of Guy the Crypro Guy, Cramer, Aaron Arnold aka Content Creator Extraordinaire, etc. won’t cut it for the sophisticated and saavy investors on this RU football thread.

 

[RU-05]

Show us a legitimate source.

All we ask is that you vet your sources of misinformation. Your all-star line up of Guy the Crypro Guy, Cramer, Aaron Arnold aka Content Creator Extraordinaire, etc. won’t cut it for the sophisticated and saavy investors on this RU football thread.

I know guys on this board like to knock him, but let's not put Cramer in the mix with those other guys.

 

[RUAldo]

Kate Rooney reports Institutions came in and bought the dip yesterday. Noted the 30K level, but obviously it bounced well above that.

Hmmm, JPMorgan analysts said otherwise - institutional investors were dumping bitcoin in favor of gold, reversing the trend that has played out over the last two quarters.

 

[RUAldo]

I know guys on this board like to knock him, but let's not put Cramer in the mix with those other guys.

To be fair, Cramer is an industry insider but has definitely become more of a media personality and entertainer than an investment advisor.

 

[RU-05]

Hmmm, JPMorgan analysts said otherwise - institutional investors were dumping bitcoin in favor of gold, reversing the trend that has played out over the last two quarters.

I think Rooney said Institutions were staying away, until they weren't, with 30K being that level.

Which makes sense because something came in and stopped the fall.

 

[bob-loblaw]

An aggressive pullback really ups the tension around here

About a nine on the tension scale, Reub.

The 'burbs (1989) clip with quote About a nine on the tension scale, Reub. Yarn is the best search for video clips by quote. Find the exact moment in a TV show, movie, or music video you want to share. Easily move forward or backward to get to the perfect clip.

getyarn.io

Anyway,

Memes aside. If you're long crypto it's a great opportunity. I went heavy on all of my usual - BTC, ETH, DCR, ELA & FILDA.

This, as well as the Yelen comments do nothing to waver my opinion. The US knows crypto is here to stay, and the biggest mistake we can make is to let China let its Digital Yuan gain traction. I just got this notification

Powell Seeks Input as Fed Digs Deeper Into Digital Currencies

Federal Reserve Chair Jerome Powell turned up the volume in the U.S. digital dollar debate, announcing the central bank will publish a research paper and seek public comment as it weighs issuing one in the future.

www.bloomberg.com

This is here for the long term. I think the libratarian ethos of "I lost my BTC in a boating accident" will be dead.

 

[T2Kplus20]

Powell talking about a Central Bank Digital Coin today.

The feds are most concerned about stable coins (which can become a true digital currency). It makes sense to do this and create an official US dollar stable coin. China is going to do this with the yuan.

 

[T2Kplus20]

An aggressive pullback really ups the tension around here

About a nine on the tension scale, Reub.

The 'burbs (1989) clip with quote About a nine on the tension scale, Reub. Yarn is the best search for video clips by quote. Find the exact moment in a TV show, movie, or music video you want to share. Easily move forward or backward to get to the perfect clip.

getyarn.io

Anyway,

Memes aside. If you're long crypto it's a great opportunity. I went heavy on all of my usual - BTC, ETH, DCR, ELA & FILDA.

This, as well as the Yelen comments do nothing to waver my opinion. The US knows crypto is here to stay, and the biggest mistake we can make is to let China let its Digital Yuan gain traction. I just got this notification

Powell Seeks Input as Fed Digs Deeper Into Digital Currencies

Federal Reserve Chair Jerome Powell turned up the volume in the U.S. digital dollar debate, announcing the central bank will publish a research paper and seek public comment as it weighs issuing one in the future.

www.bloomberg.com

This is here for the long term. I think the libratarian ethos of "I lost my BTC in a boating accident" will be dead.

+1
Gotta take advantage of these opportunities!

 

[rurichdog]

There is so much bogus information out there and everyone is playing an angle. T2kplus20 reminds me of my kid when he shows me a pic of a 192 lbs largemouth bass and I say “buddy, you ever hear of photoshop?” Or when my son plays a Googin Squad video where they catch a bass on 19 consecutive casts and I say “pal, do you know anything about video editing?” You know there is a problem when “Guy the crypto guy” is the internet authority on all things crypto.

Sounds like your little boy is really interested in fishing. Do you ever take a break from pissing all over his dreams to take him fishing?

 

[T2Kplus20]

If you believe what every tom dick or harry is saying on social, I have a bridge to sell you. Most people who are "living their best life" on social are usually living the exact opposite life in reality or are so devoid of an emotional connection that they resort to social for support. But I digress, this is a crypto thread.

In regards to the current environment. I've been saying for mos now that nothing from 30k- 75k would surprise me. Looks like we hit that floor. Really curious to see how much was scooped up institutionally during this dip.

Here's a good read for anyone with an open mind regarding crypto. It's a bit heavy on conspiracy, but there's validity in a lot of the points made.

View embedded media

Another great recap of the crash:

 

[RUAldo]

Sounds like your little boy is really interested in fishing. Do you ever take a break from pissing all over his dreams to take him fishing?

I’m pretty sure you understand the point I was making about the internet, but the answer to your question is “Yes” - we fish almost every day when he’s not in school, sports or some other obligation.

 

[ashokan]

 

[T2Kplus20]

This is your dip. The next 90 days could easily see BTC growing to 75k, or dropping to 35.

Ignore the "top 10" coins. It's a horseshit gauge. For example, ICP aka DFinity is not a top 10 coin. It just launched this week and currently trading in the 300's. It's a flawed idea for Web3 technology, but that's not the big issue. They air dropped a ton and had a massive amount to investors and pretty much rebranded its token. Garbage. It's listed on some good exchanges, but the bottom will fall out.

ADA or Cardano is a another. 2% of wallets on 84% of all Cardano.

I'd be buying the dip on BTC and getting out of ADA. I'm really curious to watch how btc & eth come out of this dip. I can see BTC roaring back as the onchain demand is still remrkably strong for BTC. The sellers are predominantly new wallets.

More info on ICP. Conclusion = it's garbage (and not really a crypto play).

 

[RU Golfer]

https://www.coindesk.com/people-beh...may-have-absconded-with-32m-in-investor-funds

 

[rurahrah000]

The technicals on Ethereum are very hard to guess. Maybe around $1500 is a good buy level, but who knows

 

[T2Kplus20]

The technicals on Ethereum are very hard to guess. Maybe around $1500 is a good buy level, but who knows

ETH has a tremendous amount of value. Probably even more than BTC. I'm going to start buying big tomorrow morning and add to my holdings (unless it really shoots up before).