ETH’s biggest use case (dex volume) has slowly been losing ground to Solana. It has officially been passed by as of last month. ETH as a chain is unusable, thus the flow of money to Solana. If you’re just going to hold it as an asset, there’s no reason to not hold BTC over it.
OT: Bitcoin, Altcoins, NFT's & All Things Crypto
- Thread starter bob-loblaw
- Start date
BTC is definitely my biggest crypto position and is likely a forever hold (or close to it). As for ETH and SOL, doing well on both of them so far this cycle. Both have issues to deal with. I don’t see SOL catching ETH anytime soon until it improves. The most advance L1 right now is SUI. I love this tech but the tokenomics are garbage.
What does “catching” eth mean? It doesn’t need a higher price or market cap to be a better investment. It’s outperformed it by a wide margin over the last two years.
I care about going forward. Last I checked, I’m up more on ETH vs SOL, but I got into SOL late at $95’ish.
By the way, any important updates on SHDW? Forgot if FTX is done selling. I think so.
This guy is also running for Gov in 2025. BTC coming to Trenton? :)
Lots of speculation that Harris will be forced to reply and distance herself from Biden. Great day for crypto and BTC.
Japanese trading was halted.
Ethereum was also twisted up
decrypt.co
Ethereum was also twisted up
Crypto Market Rout Resumes as Equities Trading Briefly Halted in Japan - Decrypt
Sunday's drop, the single-largest daily decline since April 13, comes as the broader market and Japan face an equity rout.
decrypt.co
Japan’s Nikkei 225 index crashes 7%, yen rallies as US recession concerns shake global markets
It's a brand new day. :)
Bitcoin plunged 28%. Institutional investors bought the dip
Bitcoin plunged 28%. Institutional investors bought the dip
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www.cnbc.com
Hell Yeah! I bought more via Fidelity Crypto. I will start a FBTC position with the next dip. I freed up some cash in my Fidelity rollover IRA.
ETF’s now hold roughly 5% of the supply of Bitcoin. It’s going to be interesting to see how that affects volatility moving forward. 30% or so of the supply already doesn’t move. A scarce asset is becoming more scarce.
Most of gold is just speculative value based. 50 million Americans own BTC. Simple supply and demand. Not complicated.
Definitely should help with the vol. If the new playbook for institutions is to buy the dip, this is truly a game-changer.
Glad we agree there is no use for crypto. Maybe if you are looking for a ransom payment.
😂. If I’m looking for a ransom payment I’d much prefer cash than something that can be tracked on a public blockchain. Getting your talking points from Elizabeth Warren I see.
With all due respect, I think you need to take your blinders off. After 15+ years, acceptance keeps increasing. Other than jewelry and some minor industrial uses, gold has essentially the same uses as bitcoin . I’ve never been a gold buff with returns in multiple different sectors having vastly outpaced gold over many years. Gold is also still being produced. Bitcoin is not. You’re free to avoid Bitcoin but your negativity really is passe.
“Acceptance” is entirely driven by speculation, FOMO, and greed. Wall Street skeptics and politicians that changed their tunes have done so simply because they know there is serious money to be made - which is not surprising as Wall Street and politicians have always served as society’s blood-suckers (e.g. CMBS). FWIW, I almost bought the dip just looking to make a few quick bucks on the inevitable bounce. But then I thought about it - Satoshi Nakamoto owns the most BTC estimated around 1.1M BTC / $78B. Yet nobody knows who he is/was or if it is was even one person or a group. Where is the massive investigation? Should be a layup for a forensic firm or gov’t agency performing due diligence. Nobody can figure it out based on block-chains, wallet tracking, etc.? Then look at the concentration of ownership (LOL Winkelvoss twins, Saylor, etc.). Then look at the use cases and whether it serves a real purpose. It could disappear tomorrow and other than some short term financial chaos nobody would ever miss it. There is prob a 50/50 chance it could be the greatest financial scam in the history of the world.
All fair-ish points with maybe a little hyperbole. No one is twisting your arm to get in, nice to see you came close. A hyperbolic counterpoint though would be that it’s the greatest performing financial asset of our time, that regardless of the reasons, is gaining regulatory clarity and institutional adoption.
Glad we also agree on no use case for 90+% of gold. LOL! Sometimes you really become a caricature of yourself.
jtung doesn't like facts. :)
Blackrock, Morgan Stanley, Fidelity, etc all are now onboard with BTC.
Highly likely that Satoshi already passed away and those 1.1 million BTCs are lost to time (making current supply even less).
US gov owns 19% of all mined gold. Greatest financial scam in history?
Don’t you think it’s a little odd that with all of the forensic technology that allows law enforcement and government agencies to solve financial crimes, track digital transactions, implement cybersecurity, etc. nobody has been able to solve the Satoshi mystery? Buying an asset class where the mystery creator holds 1.1M BTCs? I’m trying to understand why Satoshi would keep any BTC for himself because it seems contrary to his mission in the white paper and should theoretically hurt adoption.
I may buy at some point simply as a spec play in the spirit of high risk high reward. Gold has a 5000 year history, several use cases, and withstood the test of time.
One point of clarification- he didn’t “keep” any Bitcoin for himself, he mined it the same way anyone else could have. Obviously as the creator he had a head start, but if he mined a million as proof of concept and never touches them, it’s very much in the spirit of Bitcoin.
+1
Satoshi sounded like an altruistic guy that sincerely believed the world needed BTC (i.e., something outside of the government system that couldn't be manipulated for politics or selfish reasons).
@RUAldo - With all your complaining and distrust of the system, BTC should be a perfect fit for you.....once you put your conspiracy theories to rest.
Good thing you are not a criminal. A lot of scammer stories involve crypto. Just recently there was a story about a lawyer losing his entire 401k. The scammers asked him to send crypto. I’m sure the authorities will catch them by following the blockchain soon.
Of course they will, why do you think the US gov already has 220,000 BTC in their possession?
One off anecdotal stories are fun. Can’t find any of those involving cash, credit cards, checks or any number of financial instruments.
Look, I found an arrest of crypto scammers. Must mean all of them get arrested.
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www.reuters.com
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