People are calling on Coinbase users to transfer their crypto into hardware wallets after the exchange warned a bankruptcy could mean losing their investment
https://www.businessinsider.com/coinbase-users-transfer-crypto-cold-hardware-wallets-2022-5
Quoted from sixtyfourbits:100% the case? That's a bold brush to paint every crypto holder with hahaha.
I imagine there are quite a few people who jump into it hoping for moon shots, but to say everyone in crypto has that mentality is simply not true.
Usually the ones who jump in and over bet on hyped altcoins get flushed out whenever the markets correct. That's why you see so many alts rise and die each cycle. Those are the gambling type.
But there are also a lot of people in crypto who are DCAing in, within their budget to not overextend themselves, in coins they believe have strong fundamentals and a bright future. They're not afraid to hold for the long term.
I think the crypto market, lead by Bitcoin, has shown that it has evolved into a form of legit investing. Yes its still early on in crypto, and for every good project there are quite a few shitty ones too. It's up to the buyer to do their research. "A fool and his money are soon parted" is true. But to say everyone who buys crypto is a gambler or a fool isn't a very observant view. Though some people see it this way, and that's fine. Everyone's entitled to their own opinion.
I said 100% the case "for people I know".
I realize it's not everyone but the a ton of people seem to be in there because they heard or someone told them about it not because they are even remotely educated about it.
All I have to do is ask to explain blockchain or something so I can hear them say um 50 times and bullshit something. 
It's like when some dumbass politician said the internet was a "series of tubes" back in the day.
I'm calling it: LUNA and UST are dead, dead, dead...never to be resurrected.
Edit to add: For LUNA to get back to $1 it would have a market cap 13x larger than Bitcoin's.
Just rumors floating around right now...that the next crypto business that could be in trouble is Celsius.
Quoted from Astropin:Just rumors floating around right now...that the next crypto business that could be in trouble is Celsius.
I deleted my Celcius account and they emailed me this after deletion:
"We have looked into your request for the erasure of your personal information and, unfortunately, we are not able to fully erase your personal information as we are legally required to retain such information for compliance with our legal obligations under applicable legislation, as well as for additional legitimate interests (such as securing internal records for audit purposes, and more)."
Kind of annoying.
Quoted from Astropin:Interesting thread from Vitalik...it keeps going:
[quoted image]
Huh... Gotta read this after work. Did a road-block happen with ETH 2.0? Is Vitalik frustrated on how crypto space has been misused and wants it to behave in a different manner... but realizes He cannot change it?
Seems he is in a roadblock.
Quoted from zermeno68:Huh... Gotta read this after work. Did a road-block happen with ETH 2.0? Is Vitalik frustrated on how crypto space has been misused and wants it to behave in a different manner... but realizes He cannot change it?
Seems he is in a roadblock.
I honestly believe (and could be wrong) that he had a vision of improving Bitcoin...and now realizes he can't.
Quoted from Astropin:I honestly believe (and could be wrong) that he had a vision of improving Bitcoin...and now realizes he can't.
Improving Bitcoin itself or Making ETH better than Bitcoin?
Quoted from KornFreak28:Improving Bitcoin itself or Making ETH better than Bitcoin?
I think it was making ETH into a "better" Bitcoin. There are some altcoins with impressive properties, but the scale of Bitcoin's network and adoption is the thing they can't have.
What do you guys think about ADA these days? Fork coming in June.
I currently hold about 12000 ADA with an average purchase price of 1.15. I'm considering getting 10k or so now and dump it when/if it doubles?
Weird thing is in the end I don't care about any altcoin anymore and just want to accumulate BTC. Just trying to find a way through altcoins to gather more fiat to get more BTC.
Quoted from KornFreak28:Improving Bitcoin itself or Making ETH better than Bitcoin?
Making ETH better.
Quoted from Astropin:Making ETH better.
I’m just hoping BTC drops hard so I can load up more
Quoted from pninja005:What do you guys think about ADA these days? Fork coming in June.
I currently hold about 12000 ADA with an average purchase price of 1.15. I'm considering getting 10k or so now and dump it when/if it doubles?
Weird thing is in the end I don't care about any altcoin anymore and just want to accumulate BTC. Just trying to find a way through altcoins to gather more fiat to get more BTC.
I'm with you. When the market recovers I plan to dump the rest of my alts and go all BTC. I sold more than half of of my ADA at $2.18 back in Oct. I sold 14.3 ETH back in May at over $4,068 and 7.45 more in Oct at $4,177. Unfortunatley the rest of my ETH is locked up until it coverts (if).
Quoted from Astropin:I'm with you. When the market recovers I plan to dump the rest of my alts and go all BTC. I sold more than half of of my ADA at $2.18 back in Oct. I sold 14.3 ETH back in May at over $4,068 and 7.45 more in Oct at $4,177. Unfortunatley the rest of my ETH is locked up until it coverts (if).
How long do you plan on holding BTC for?
Quoted from fosaisu:Oh no he didn't!
What!? Lol! ……I’m new to this. It’s a legit question. I was thinking 10 years plus
Quoted from pninja005:What do you guys think about ADA these days? Fork coming in June.
I currently hold about 12000 ADA with an average purchase price of 1.15. I'm considering getting 10k or so now and dump it when/if it doubles?
Weird thing is in the end I don't care about any altcoin anymore and just want to accumulate BTC. Just trying to find a way through altcoins to gather more fiat to get more BTC.
I think the Fork will see the blockchain transactions become even faster, and they have already been very fast as of late through smaller upgrades, so I'm excited to see if they become almost instantaneous. With that being said, I don't see the fork being a catalyst for a decent price increase. Technical improvements are usually celebrated by those within a coins community, but not very often does it create big hype resulting in lots of attention from outside others to buy in. Especially in a bear market where people are hesitant to buy as it is.
Right now, I feel the best play is to simply buy whatever coin you want to hold long-term. If that's bitcoin, I would go straight to bitcoin and bypass the hope that cardano has a pump. Which is odd for me to say, as I'm still adding to my cardano bags each week lol. But lets say you buy Cardano and the market dumps further. Just like any alt, chances are it will bleed more than Bitcoin. So it all depends if you're comfortable holding Cardano long term if it doesn't get the pump you're after.
Personally I'm happy to hold Cardano through the bear market, as I believe in the coin long term and am happily staking my Ada and earning more each day through that.
Quoted from KornFreak28:What!? Lol! ……I’m new to this. It’s a legit question. I was thinking 10 years plus
Didn’t mean to pick on the new guy, but if you’ve followed the thread Astropin is about as hard-core of a Bitcoin believer as you’ll find. You’re not going to catch him using the words “Bitcoin” and “sell” in the same sentence!
Quoted from fosaisu:Didn’t mean to pick on the new guy, but if you’ve followed the thread Astropin is about as hard-core of a Bitcoin believer as you’ll find. You’re not going to catch him using the words “Bitcoin” and “sell” in the same sentence!
Why would I sell the best money ever known to man back into a depreciating fiat...ever? 
Quoted from fosaisu:Didn’t mean to pick on the new guy, but if you’ve followed the thread Astropin is about as hard-core of a Bitcoin believer as you’ll find. You’re not going to catch him using the words “Bitcoin” and “sell” in the same sentence!
Quoted from Astropin:Why would I sell the best money ever known to man back into a depreciating fiat...ever?
Didn’t mean no disrespect to Astropin and yes I know he is very hard core on BTC and I’m trying to follow in his footsteps. He already was kind enough to lend a hand explaining to me about cold storage which I had no idea even existed!
Astro you make a great point about why selling btc back to fiat but at some point there’s got to be a selling point I think no? The way I see it, unless BTC is accepted as payment everywhere it would be hard not to sell when it hits 1 million in 10+ years (fingers crossed) Unless I’m looking at this from a different perspective?
Thread…..Enlighten me!
Quoted from KornFreak28:Didn’t mean no disrespect to Astropin and yes I know he is very hard core on BTC and I’m trying to follow in his footsteps. He already was kind enough to lend a hand explaining to me about cold storage which I had no idea even existed!
Astro you make a great point about why selling btc back to fiat but at some point there’s got to be a selling point I think no? The way I see it, unless BTC is accepted as payment everywhere it would be hard not to sell when it hits 1 million in 10+ years (fingers crossed) Unless I’m looking at this from a different perspective?
Thread…..Enlighten me!
"Selling" means converting back to fiat $$. I never said I wouldn't "spend" some of my BTC. But...it better be for something I really need/want. Like a house. You can already spend bitcoin on groceries or your coffee if you wanted to...but why would you? The Cash app (and many others...thanks to Jake Mallers, Strike and the Lightning Network...no credit card needed) make it possible to spend your bitcoin instantly with no fee at over 80 million merchants and growing. But again, why would you (for now). I save in BTC and I "spend" my shitty fiat.
Quoted from KornFreak28:Didn’t mean no disrespect to Astropin and yes I know he is very hard core on BTC and I’m trying to follow in his footsteps. He already was kind enough to lend a hand explaining to me about cold storage which I had no idea even existed!
Astro you make a great point about why selling btc back to fiat but at some point there’s got to be a selling point I think no? The way I see it, unless BTC is accepted as payment everywhere it would be hard not to sell when it hits 1 million in 10+ years (fingers crossed) Unless I’m looking at this from a different perspective?
Thread…..Enlighten me!
I believe the thought is that by the time its worth, say, 1 million per bitcoin, its adoption and acceptance will be to the level that you won't need to sell/convert it to fiat form to "cash in", you'll just be able to spend it in its form as is. For me I see it as not so much a single selling point, but the idea of taking small profits along the way, that would be most beneficial. Maybe some of that profit taking is by converting to fiat, until we hit the point where the converting is no longer even necessary.
I do have a question of my own though that your post made me want to ask. Do you folks see Bitcoin working as a payment option as the main drive to its future success? I personally feel its strength has always been, and will always be, its ability to be a safe store of value, not tethered to depreciative fiat currency. But maybe I'm underestimating the importance of it being a payment system too.
Quoted from sixtyfourbits:I believe the thought is that by the time its worth, say, 1 million per bitcoin, its adoption and acceptance will be to the level that you won't need to sell/convert it to fiat form to "cash in", you'll just be able to spend it in its form as is. For me I see it as not so much a single selling point, but the idea of taking small profits along the way, that would be most beneficial. Maybe some of that profit taking is by converting to fiat, until we hit the point where the converting is no longer even necessary.
I do have a question of my own though that your post made me want to ask. Do you folks see Bitcoin working as a payment option as the main drive to its future success? I personally feel its strength has always been, and will always be, its ability to be a safe store of value, not tethered to depreciative fiat currency. But maybe I'm underestimating the importance of it being a payment system too.
My post above yours...it already is a payment system thanks to the Lighting Network...if that's what you want to use it for. I prefer it as a SoV.
Quoted from Astropin:My post above yours...it already is a payment system thanks to the Lighting Network...if that's what you want to use it for. I prefer it as a SoV.
Sorry, I didn't word it very clearly. I realize that the lightning network already has given Bitcoin a payment system. I more so meant to ask if people feel that is its main value moving forward, or if the store of value is the main value still. I realize both parts are valuable to Bitcoins future, I just feel its original purpose will always be its most valuable aspect.
Quoted from sixtyfourbits:Sorry, I didn't word it very clearly. I realize that the lightning network already has given Bitcoin a payment system. I more so meant to ask if people feel that is its main value moving forward, or if the store of value is the main value still. I realize both parts are valuable to Bitcoins future, I just feel its original purpose will always be its most valuable aspect.
Exactly what I wanted my next question to be!
I love the SoV idea but unless you can payoff say your mortgage with BTC so you can retire, there’s got to be a point where you must sell one or 2 coins to live debt free or set up your own business.
Now if BTC is accepted everywhere in the near future, wouldn’t that lessen it’s value as opposed to now that is viewed as a limited number asset and a hedge against inflation (store of value) like gold?
Quoted from KornFreak28:Now if BTC is accepted everywhere in the near future, wouldn’t that lessen it’s value as opposed to now that is viewed as a limited number asset and a hedge against inflation (store of value) like gold?
It will greatly increase it's value. Why?...true scarcity. There will only be 21 million bitcoin (and many are forever lost already). Bitcoin is being adopted at a pace 2x the rate of adoption of the internet...but right now is still very early in that process.
Quoted from Astropin:It will greatly increase it's value. Why?...true scarcity. There will only be 21 million bitcoin (and many are forever lost already). Bitcoin is being adopted at a pace 2x the rate of adoption of the internet...but right now is still very early in that process.
This makes me like BTC even more!
Quoted from Reality_Studio:I finally bit the bullet a couple days ago and converted all my alt coins to bitcoin at around $37.8k or so. Even went one step further and deleted my various crypto accounts, only have 2 left although soon to be just one. So the only crypto I have now is btc, that's it. Gonna do what I do best which is buy and hold rather than try and keep up with alt coins.
Looks like my post aged reasonably well.
Quoted from Astropin:Cory Klippsten spells out how Celsius is a Ponzi. This is just a snippet:
Thats news? There is Crypto that isn't a Ponzi? 
Quoted from Elvishasleft:There is Crypto that isn't a Ponzi?
Depending on your POV you can argue that most crypto is rank speculation on inherently worthless assets, a pump-and-dump scheme, 21st century tulip bulbs, etc. But "Ponzi scheme" has a specific meaning that doesn't map onto most crypto transactions.
Quoted from Elvishasleft:Thats news? There is Crypto that isn't a Ponzi?
Yeah...there is no possible way that bitcoin is any sort of scam/Ponzi; literally impossible.
Plus, Celsius isn't a "crypto"...it's a company pandering to the crypto community. Although part of that business does include their own "cel" token.
Quoted from Astropin:I'm itching to pull the trigger!
Edit...bang!
I’m waiting for it to go even lower….
Quoted from Pdxmonkey:Ballsy… I think we have more red in the future.
I've got more locked & loaded...I'll DCA the downtrend.
Quoted from Astropin:I've got more locked & loaded...I'll DCA the downtrend.
I’m going opposite route and putting in shorts on Eth to hedge my holdings. NFA
Quoted from Astropin:I've got more locked & loaded...I'll DCA the downtrend.
I'll be DCAing as we go as well. I too don't think we've hit bottom yet, and I'm not overly worried about timing it. I don't see this having a v shaped recovery, unless we get some mega bullish news. I feel with how the economy is right now, once we do hit bottom, it will be a slow rise back up until the mania starts again around the next bitcoin halving in 2024. So that should give us all plenty of time to accumulate before the next bull run.
Quoted from KornFreak28:You think BTC has hit bottom?
Down to 25k, then bounce up to 35k in Summer, then down to 15-20k for the remainder of the year, with relief coming in October.
Load up your bags when ETH is $1500.
From my crystal ball 
Quoted from Soulstoner:Down to 25k, then bounce up to 35k in Summer, then down to 15-20k for the remainder of the year, with relief coming in October.
Load up your bags when ETH is $1500.
From my crystal ball
I think I’m done with ETH and can’t wait to unload my bags on shitcoins I got. I’m all about BTC now
Quoted from Soulstoner:Down to 25k, then bounce up to 35k in Summer, then down to 15-20k for the remainder of the year, with relief coming in October.
Load up your bags when ETH is $1500.
From my crystal ball
Your crystal ball may be right for a triple top ?
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