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

But they are needed for a decentralized blockchain. And how does it run contrary to lowering costs when consumers are able to move money for near zero cost? The miners are being rewarded for validating transactions in btc.
Bob-law = is it not true that transaction/payment fees that are currently charged by processors/banks are simply replaced with much higher and/or variable energy fees/costs charged by utility companies for BTC mining operations? Also, from what I understand, private blockchains do not need BTC-like mining ops because it’s not decentralized = therefore, doesn’t the whole mining structure seem incredibly inefficient? Private blockchains have less nodes, are more secure because identities of members are known, and rely on algorithms that don’t require massive computing costs. Seems to me that there must be a better way to achieve PoW without native tokens.

 
It's not just a gut feeling. It will see adoption. The numbers and YoY growth in wallet addresses and usage clearly suggest this. The money coming into the space for development also further this. Amazon, Apple, Walmart, in the last 6 - 12 mos all started up "alternative payment" departments.

Once retail learns that you can use the Bitcoin network to save credit card fees, watch what will happen. Again, not using the asset btc to purchase things; simply using the Bitcoin network as a method of instant cash remittance. Im not of the ilk of btc to the moon. Yes, I have strong conviction it'll be 1mm befor the decades end, but the use case as a payment network is what genuinely excites me. Seeing what Dorsey does w Block is exciting. Again, I do not have a financial background. My bg is in tech. I see this technology as potentially life changing for people
What are the basics of a lightning transaction?

Is it something like, a consumer downloads the app, connects it to a bank account, then during the transactions cash transfers to btc with immediately transfers back to cash which the seller, who also has a lightning app collects?

Ie, neither party needs to own bitcoin in the transaction?
 
Saw a lady on CNBC a month or so ago, and she said the one use case which BTC is currently able to do, is transfer large amounts of money quickly and without much in terms of transaction fees.

She didn't think there was much else real world uses currently.

Of course that can change, see lightning transaction discussion above. And while she did say the large sum transaction was currently something BTC could be used for, I don't think she said how often it is actually used for it.
 
If BTC can get back off $20K does look like a reverse head and shoulders would be in place.
 
Voyager seems to be in a bit of trouble…
A bit is putting it mildly. It's going to get real ugly the next few mos.

I can see more crypto funds going under, the house of cards is in the defi/lending space is going to keep crumbling as its realized how many tokens or wrapped tokens/coins were just stacked on top of other firms holdings like 3AC.

There's some US miners who dont have the balance sheet to make upcoming equipment payments. They're going to be forced to liquidate their btc holdings.

I would not be surprised to see my 15k btc limit order get filled in August.

And yes I will continue to buy. btc & ELA are the only two I care about. ELA could easily 100x if it ever sees web3 adoption. Those odds are quite low, but at $1.50 a coin it's the only non btc entity I'll push $$$ into
 
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Roger Ver, aka “Bitcoin Jesus” (lol), who was the CEO of Bitcoin.com, has defaulted on a $47 million margin loan. Wonder if we see a resurrection in three days.
 
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A bit is putting it mildly. It's going to get real ugly the next few mos.

I can see more crypto funds going under, the house of cards is in the defi/lending space is going to keep crumbling as its realized how many tokens or wrapped tokens/coins were just stacked on top of other firms holdings like 3AC.

There's some US miners who dont have the balance sheet to make upcoming equipment payments. They're going to be forced to liquidate their btc holdings.

I would not be surprised to see my 15k btc limit order get filled in August.

And yes I will continue to buy. btc & ELA are the only two I care about. ELA could easily 100x if it ever sees web3 adoption. Those odds are quite low, but at $1.50 a coin it's the only non btc entity I'll push $$$ into
+1
Now is the time to be patient and watch. A lot of the "bad" players in the crypto space are going to be taken to the woodshed. Plenty of short-term pain, but overall, it's a long term benefit.
 
A bit is putting it mildly. It's going to get real ugly the next few mos.

I can see more crypto funds going under, the house of cards is in the defi/lending space is going to keep crumbling as its realized how many tokens or wrapped tokens/coins were just stacked on top of other firms holdings like 3AC.

There's some US miners who dont have the balance sheet to make upcoming equipment payments. They're going to be forced to liquidate their btc holdings.

I would not be surprised to see my 15k btc limit order get filled in August.

And yes I will continue to buy. btc & ELA are the only two I care about. ELA could easily 100x if it ever sees web3 adoption. Those odds are quite low, but at $1.50 a coin it's the only non btc entity I'll push $$$ into
I pulled everything out of Voyager 2 weeks ago to be on the safe side. Pretty much have everything in my ledger now.
 
BTC shooting up atm

Well that was a garbage link if I've ever seen one.

For anyone looking to really get insight into what's going on in crypto, I suggest you follow @DylanLeClair_, @nic__carter and @_Checkmatey_ on Twitter. They're all btc bulls who study onchain activity as well as the macro environ. Dylan has been dialed in aggressively into what's going on in the space. Highly recommend those follows for anyone looking for real insight
 
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Well that was a garbage link if I've ever seen one.

For anyone looking to really get insight into what's going on in crypto, I suggest you follow @DylanLeClair_, @nic__carter and @_Checkmatey_ on Twitter. They're all btc bulls who study onchain activity as well as the macro environ. Dylan has been dialed in aggressively into what's going on in the space. Highly recommend those follows for anyone looking for real insight
Thanks for the info. Saw btc shooting up wasn't sure if that news was moving it. Will def follow your suggestions.
 
Yup - isn’t this what I’ve been saying for the last year or more on this thread…?
Yes and no. You’ve been right as most of us have about useless meme coins. But you’ve been dismissive of NFT’s and utility coins that are already out there doing what this thread references or those that are actively building the ecosystem needed to support it.
 
Yup - isn’t this what I’ve been saying for the last year or more on this thread…?
Kind of. You've been anti-coin/token aspect of blockchain.

Any which way, this leverage flush is a good thing long term. I dont think the floor is in yet.

What's been interesting is the two different groups buying the dip; retail-less than 2 coins and whales. We're going to keep trading sideways. Any new whales or institutional buyers are not going to make a huge spot purchase. This 15 - 25k sideways range is going to continue until either a spot etf gets approved or a major institution announces a large purchase.
 
I hope none of you, like me, held your crypto in the Voyager app. They are suspending all trading and seemingly shutting down. Can’t access your money or coins. Total bummer. A legitimate Ponzi scheme like the rest of this ridiculous crypto scam.
5 figures down the drain…. Should never listen to “friends” on investing.
 
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I hope none of you, like me, held your crypto in the Voyager app. They are suspending all trading and seemingly shutting down. Can’t access your money or coins. Total bummer. A legitimate Ponzi scheme like the rest of this ridiculous crypto scam.
5 figures down the drain…. Should never listen to “friends” on investing.
I took my coins out a couple weeks ago thank god. I wouldn’t say it’s down the drain, but might be locked up for a bit.
 
Kind of. You've been anti-coin/token aspect of blockchain.
I believe that the world can still derive the benefits of blockchain without the silly coin/token structure. Or, coins/token must be tied to a physical or virtual asset in some way. Otherwise it’s just the greater fool theory.
 
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Yes, dismissive of NFTs like BAYC or the kiddie art selling for thousands of dollars. However, NFTs that are tied to retail and the metaverse have merit and strong use cases.
Lol, you literally cut off the second part of my message that said exactly what you responded with. Well done.
 
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Lol, you literally cut off the second part of my message that said exactly what you responded with. Well done.
Aldo will eventually see the light. I have faith.
He asks the right questions and is not a d about it, like must people who are skeptical of crypto are.

Not so bold call here.... A whale or institution is going to try to blow up Celsius at their liquidation price of 12.2k btc. I didnt think we'd see sub 15k btc, but if it gets close you're going to see it happen; there's too much money to be made if they get liquidated. So sadly, we could be looking at a 10k floor.
 
Aldo will eventually see the light. I have faith.
He asks the right questions and is not a d about it, like must people who are skeptical of crypto are.

Not so bold call here.... A whale or institution is going to try to blow up Celsius at their liquidation price of 12.2k btc. I didnt think we'd see sub 15k btc, but if it gets close you're going to see it happen; there's too much money to be made if they get liquidated. So sadly, we could be looking at a 10k floor.
Good news here the new Celsius liquidation price is now sub $5k btc, meaning I highly doubt we see sub 15k btc
 
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Any thoughts on Voyager? Will they make it?
Considering they just filed for bankruptcy in the past hour or so, no.

I'm operating under the guise of the implosions are going to continue. To many firms / tokens were leveraged on top of each other. It's going to end poorly for a lot of folk.

I pulled all my yield earning btc & eth off of Gemini "earn" back in May. I recently pulled all coins/tokens off Kucoin and a few of the other random exchanges I've used. I'm not concerned about Gemini. The others.... you never know.

By the end of the year, most of the dominoes should fall. btc will probably trade sideways for a while, with multiple fake outs. Unless of course theres more institutional buy in
 
Considering they just filed for bankruptcy in the past hour or so, no.

I'm operating under the guise of the implosions are going to continue. To many firms / tokens were leveraged on top of each other. It's going to end poorly for a lot of folk.

I pulled all my yield earning btc & eth off of Gemini "earn" back in May. I recently pulled all coins/tokens off Kucoin and a few of the other random exchanges I've used. I'm not concerned about Gemini. The others.... you never know.

By the end of the year, most of the dominoes should fall. btc will probably trade sideways for a while, with multiple fake outs. Unless of course theres more institutional buy in
LOL. Just saw that as well. COIN and the other big guys should be fine, but you never know right now.
 
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Sam seems to think the worst of the liquidations are over

Hope he's right, but I foresee more damage. The ongoing btc being pulled from exchanges is going to shake some echanges/platforms out. June saw the highest outflow of btc to cold storage in history
 
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