I stake DOT and ADA. Recently left XTZ for those others. Better returns and products imo. ETH 2.0 scares me to stake.
These last two months have been wild! Today especially too!
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Then start small like $100 in each.
I had a similar discussion with a friend last summer. Bitcoin was at 9k for months, he kept saying that he should buy it. Then it jumped to 11k, he said “ah I missed the boat, I’ll probably never buy” He recently bought some at 33k and at this point it wouldn’t have mattered if he got in at 9 or 11.
I’m still buying Bitcoin almost every week.
Just slowly shoveling it in.
Nothing in life is a guarantee.
Trezor is my cold wallet too, no complaints. Ledger has had a few data leaks which isn’t good, no one lost anything but their info was leaked.
I’m buying ADA on Kraken, haven’t link a bank to Kraken so I’m trading bitcoins for ADA and moving it to Yoroi to stake. The process is confusing the first time but after the first epoch it’s easy. Picked a local staking pool but if anyone here has one here I’d gladly move if numbers are similar.
I think ADA has a lot of potential, betting coinbase will adapt it soon and manage all the staking pools in house for you.
Doge
Infinite supply
14.4 million daily new coins
No decay
Massive supply in OG wallets
Versus
Memes
Are you saying that the limit is +5bil every year for every year it’s running?
Because that’s not limited in my opinion. Limits need an end number like 21mil or 150bil etc.
Quoted from Irishbastard:Wish Coinbase would add Cardano..
Fees are way lower on kraken versus binance for Ada just fyi
I’ve never linked a bank account to Kraken or sent them money.
Just send them Bitcoin and traded the Bitcoin for ADA or any other coin they carry.
Estimated little over a hundred years to dole out the last 13billion ADA. Ecosystem still has a lot of growth and compared to ETH the fees and transfers are way lower. Helping ADA add lots of new projects and partners. There’s a lot of opportunities coming up this year, price is certainly keeping up with expectations. Once or if coinbase adds it, expect a huge move up. From what I understand the ADA people say everything is submitted and they’re waiting on Coinbase. My guess is coinbase is figuring how to do the staking pools in house or they’re too focused on their own IPO launch.
Be interesting to see where ADA vs DOT vs ETH(2?) stand at the end of this year. Have some of each and in this market can’t complain too much about any of them. Thought they each have their own pros and cons. Great time to be involved in crypto.
On bank accounts you might have to set your bank account to allow third party authorization. At least that was an issue for me.
Or try cashapp. I like cashapp.
Quoted from Wmsfan-GAP:What are peoples thoughts On Cosmos? Sell now while it's flirting on around it's highest, or is it going to continue its growth?
Wish I was in on that a month ago! Just watching for me on this one. Could be a big week with Stargate launching.
Quoted from Irishbastard:Curious, since it appears my final "authorization" will never be completed on Binance, what is everyone using to buy Cardarno?? I use Coinbase and would like something similar where I don't have to jump through hoops to purchase crypto. Would like something I can just link my bank account to and purchase. Don't want to be required to buy BTC, then use it to buy other crypto on a different brokerage etc, or use some high fee middle man site etc.
Kraken
Picked AAVE over compound but similar tokens and prices. Good to have a DeFi platform in the portfolio.
I see coinbase is about to start allowing Eth2.0 staking. Interesting to see how they will address the lockout from moving once in.
Quoted from Irishbastard:Can't link a bank account to Kraken I see, only bank wire transfer?
Do you have a wallet with BTC to transfer from to Kraken?
Quoted from Irishbastard:No, just a Coinbase account.
That will work, you can send from coinbase.
Boom!!!
Apple took 42 years to reach first Trillion.
Second trillion took about 2 years. Bitcoin is 12 years old.
(Not to say BTC is Apple but hoping we get that explosive growth.)
Quoted from vex:Bitcoin now 1 Trillion market cap. Baby steps.
Quoted from EricHadley:Those of you wanting to mine, don't buy a gaming computer. Your dollars are better spent building a real mining rig using a motherboard specifically designed for mining, a small amount of RAM and a cheap CPU. Then load it up with GPU's. My rig's Motherboard can run up to 13 GPU's, I am currently running 8 NVidia RTX 2060's. The trick to GPU's is finding a nice balance of performance, cost and watts to operate. For me the RTX 2060's fit that perfectly. The super top end cards are just simply too expensive for the marginal increase in performance.
problem is, all of this stuff is practically unavailable at the moment due to COVID and demand.
Note it also depends on what you want to mine. I mine RVN and ETH. Interesting to note that I earn about double mining ETH AND it draws less power.
Also note, I think Crypto currency is horrible for the environment. TONS of electricity is being wasted having computers around the world try to solve difficult problems to just get the privilege to confirm transactions.
Have you seen how great mineral mining is for the environment?
I think this is also a big selling point with ADA versus btc. I’m even with a green staking pool on ADA.
Kraken is good for ADA.
Deposits are weird if you want to use a bank. Transfer btc then trade is easiest way.
I like PolkaDot.
Upsides
Great growth potential.
Love the 12% staking.
New developments frequently.
Downsides
Complex system and can be difficult to work with.
Lots concepts and things in project status.
Tough competition.
1 week later
Quoted from Munsters:Im in: ADA, CHZ & doge ofcourse [quoted image]
Nice discovery on CHZ, looks like we aren’t supposed to get that in the US yet.
I see that arts and meme’s are selling for big bucks. Eth and ADA support NFTs. Was on clubhouse and heard of some celebrities getting in on NFT’s and tokenizing achievements.
Still learning more atm, but looking for something to tokenize...
Imo
Btc is the best odds atm...
Not necessarily the best pay out but the best odds. Of my portfolio it’s definitely the last thing I would sell. Why? Institutional is hopping in now, 60k will seem cheap next year probably even this year.
Plus if I had to sell it, I would take a loan against it before having to sell it. Not a Bitcoin maximalist but once I trade into btc it’s not turning into anything else.
Again this is my opinion, nobody knows where we will be.
Ada is tricky...it’s a different beast. I like the functionality that of it. But the supply is massive by design. The higher it gets the harder is it to move.
Quoted from sixtyfourbits:That will be huge if true. But it’s been teased and rumoured for a while. Is it official now?
Official 9am Thursday
Coinbase Pro not regular coinbase.
*IF* you think this cycle will follow the last cycle.
Red circle is where we are currently on last halving *IF* this cycle follows last cycle’s bull run.
Or has the bull already ran it’s cycle?
That’s the question.
Chart credit, Willy Woo
Whoops let me re-edit the photo
26C7731C-6536-43EC-8B33-87EBE62E751C.pngQuoted from Baiter:Seems if you didn't own crypto before 2021, you're kinda screwed watching everyone else be happy with their gains... lots of luck involved. All the small altcoins have 10x'd or 20x'd already, so chasing them further is done with elevated risk, as is trading them. Longer term you're probably good doing regular buying, as the overall crypto adoption is still early. Crypto runs in 4 year bubbles due to BTC, so it's always good to consider what you're going to do when that bubble pops later this year.
Big hypothetical theory here...
You could say this cycle is vastly different then last cycle due to what I believe is a wall of institutional money coming.
About two weeks ago Morgan Stanley announced making Btc available, with limits, to their high end clients. One week after that Fidelity and Goldman Sachs announced their Bitcoin ETF. If the SEC passes either one it will be massive, wait till these companies start competing. Square pushed PayPal in crypto. Not to mention odds are Biden’s pick for SEC chief is Gary Gensler will be voted in. He is pro bitcoin, even taught at classes at MIT about blockchain and cryptography. Ginsler will probably add regulation which is good for anyone holding btc and wants to see it legitimized mainstream. If BTC is valued at say 420k it’s not really going to matter if you got in at 50k or 20k. And if you think 420k is crazy talk...
1.) Inflation is coming
2.) More wallets are hodling
3.) Minors are selling less btc
4.) What happens when exchanges runs out of btc to sell? Compare coinbase’s reserve two weeks ago to today, I won’t ruining the surprise.
5.) higher the market cap the more attractive it is for huge corporations.
6.) Lightning Network.
Again this my theory, do your own DD.
Zooming out on Boeing vs Btc. In fact zoom out 10 years on bitcoin average growth of 200% yearly. Source https://www.google.com/amp/s/cointelegraph.com/news/bitcoin-s-compound-annual-growth-is-an-unheard-of-200-cagr/amp
I would wager that btc is more likely to double before Boeing stock does. Even with covid rules loosening.
Tesla I’m not betting for or against. I am a shareholder though.
Altcoins is a different beast. I would total agree with you on wagering only what you can loose on altcoins. There’s lots of money to be made on alts but also lots to lose as well.
High dollar entry cost for btc doesn’t matter...it’s all psychological. Percents is all that matter.
Here’s boss man Saylor
325FC701-2B16-4FE6-8F51-4088634E58B2 (resized).png8BB12804-E48A-48A3-8607-BE840CA17B52 (resized).pngQuoted from nwpinball:Thoughts on this? I use Coinbase, I just don't know if they have growing profits or are expanding their business.
I’m torn...
Coinbase was one of my first exchanges but I don’t use it anymore. Though I do recommend it for new ppl because the interface is awesome but the fees are high.
I can see it doing well because of this but since it’s not a product that I use probably won’t buy the stock.
Quoted from Pinballs:IMO the huge energy requirements of crypto, and consequent environmental calamity, should be enough to get it banned. Ridiculous. Shameful. Avoidable. If you want anonymous transaction, find a PGP solution FFS. This could be a LOT easier.
This narrative is grossly wrong...you read reports from the Eurobanks and Microsoft.
****Input isn’t equal to pollution***
Lots of mining power is derived from green energy or otherwise wasted energy...more energy is wasted from old infrastructure of power. Serious miners (at least the ones I know) have relocated near hydro dams to capitalize on their energy.
To clarify
Crypto is a broad term. You are thinking PoW (proof of work) which is different than PoS (proof of stake).
***consumption doesn’t equal pollution***
https://www.coindesk.com/the-last-word-on-bitcoins-energy-consumption
This is a well written article.
Both are kind of riding on hype and promises...
Few things announced today that will be running on Dot; Enjin, Kusama, and something else I forgot.
Quoted from Pinballs:I'm not against crypto, and indeed like the fact it's decentralised and anonymous. It just concerns me what an energy hog it is, in this era of climate meltdown. Already using 18% (120/650) as much as the global banking system's power consumption from your figures, despite being only 0.7% of the world's money. Clearly unsustainable! One of those silly scenarios where, say, 90% of the world's power consumption would be needed to transact mostly in bitcoin/equivalent. Like a Douglas Adams plot. The Easter Island heads of monetary exchange!
Surely there are more (energy) efficient ways to do crypto? IMO some fundamentals need to change before crypto ever gets mainstream. Exponential growth with this power consumption is insanity, however many windmills you think you can build. Also, it would be nice to be able to buy graphics cards again
Just being a devil's advocate
Why stop at crypto?
Let’s get rid of video games too, that consumes more energy than crypto.
Direct quote from Satoshi Nakamoto
“The utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity used. Therefore, not having Bitcoin is a net waste,” wrote Nakamoto in early crypto forum BitcoinTalk, in August 2010.
Also not sure you understand the difference of PoS and PoW.
PoS!!!!
Look at energy use of ADA.
You can’t lump crypto all together, learn the difference between PoS and PoW! Both crypto but radically different. I feel you’ve done little research but want to argue your incorrect points.
However I would argue that the energy use of bitcoin is what gives it the value.
Quoted from dc2010:Ada is getting ready to launch new features, it's not going anywhere but up
But, the coin growing the most over the past month and continuing now is Bittorrent!
Grab some folks
Anywho back to the fun...
BTT looks like it runs on Tron which is on fire too. What exchange are you using for BTT?
Quoted from dc2010:Voyager
Really like it
Looked it over...
Wanna PM your referral?
Both get some btc
1 week later
This is all speculation...
Backstory
Confirmed - a little over $1billion of Btc left Coinbase and moved to a single wallet in one transaction last week.
Rumor
Walmart bought that BTC.
What is Walmart doing with BTC?
Or
Diversification of their massive reserves?
https://www.macrotrends.net/stocks/charts/WMT/walmart/cash-on-hand
Keep an eye peeled on Walmart’s next quarterly May 18th.
*Not confirmed*
Quoted from BMore-Pinball:I wonder how much Bitcoin is permanently out of circulation due to people buying and losing where they stored it or not being able to gain access
Estimated 20-25% of total supply.
What’s the play on Coinbase ipo tomorrow?
Hearing some original investors are selling their shares at 450 already.
Will crypto outperform COIN?
Quoted from Astropin:I seriously wish it would crash and die already... damn scam coin.
https://bitinfocharts.com/top-100-richest-dogecoin-addresses.html
Anybody good at Counterstrike?
Looks like you can earn Bitcoin if you got skills.
https://zebedee.io/infuse/
Quoted from Deaconblooze:It seems like there's a lot of doubt about mining after Eth2.0. I'm going to keep looking into it as I really like the idea of mining as a potentially profitable hobby.
Has anyone heard of Helium? That's a really intriguing option. The hardware cost is relatively low (<500), the problem is that the supply is non-existent until mid summer or later and there's a halving taking place in August. I'd probably still roll the dice as the coin really seems to have some promise, but I hate preorders......
I have one on order too.
I didn’t like the huge pre mine aspect of it but looks easy and according to the map I think it would work well for my area. Shouldn’t take long to return the cost and I just plan on turning it into btc ASAP.
My friend did Bobcat, he’s waiting too.
I went cal-chip expecting it in June but I ordered about a month ago.
Quoted from Chalkey:I'm not trolling I'm just trying to understand, sorry for frustrating and upsetting you. Genuinely not my intention. Just seeing you guys acting like every other non bit / eth is a pyramid scheme with such confidence is confusing to me. From my naive observations, other than bitcoins early use on the silk road and maybe .0002% of private online retailers 99% of crypto users are speculating on value increase and holding til they hit their magic number. I have, admittedly, fabricated all of the numbers in this post based on personal impressions. How are the big two different from the other 500 as far as being non pyramid schemey if there's no utility other than the price speculation?
Scam comes from coins that are centralized where founding member(s) own a large majority of the coins and can control the network. Once enough money has entered the project the owners cash out their chips and leave investors holding their bags. Not every other coin is a scam but there are lots out there.
Microsoft takes btc direct, which is alittle ironic for Bill’s views on btc. Flexa takes btc which is used in Home Depot, Whole Foods, few other places. But imo it’s kind of stupid to use btc like that, until they offer me a cheaper price I will still use fiat for small purchases but if I can save I might consider it. Lightning makes btc payments instant.
This is a new market, third parties are bridging the gap to use crypto and collect the fees that visa MasterCard have been getting.
The bigger the value the easier is it buy with crypto. Tesla takes btc, real estate is starting to shift that direction too. I’ve sent people money in different countries and it is way easier and cheaper yo use crypto than any other way I could think of, PayPal, Wire transfer, money order, mailing gold, etc. I can send ADA it cost me about $0.65 to sent 9k to anywhere in the world with internet. Takes about 5min to finish the transaction.
Haven’t bought or sold a pin for crypto yet but hope to someday. Never have I bought a drug or illegal item with crypto.
Bitcoin is only 12 years old, and is a 1 trillion dollar asset. Nothing has ever done that, it’s still early. If this was a baseball game, the first inning just ended.
In my opinion of course.
Quoted from vid1900:I see today that Paypal is giving you a $25 credit if you buy $25 in Crypto
Of course, they need your SS# so you can be taxed with yearly 1099-k reporting
So the very reason many would want to get into crypto, decoupling from a government, is now negated
PP is touting low fees, but I'm sure they will jack you up the rear the moment they get a bunch of users on the hook
Be very careful on this one: https://www.paypal.com/us/webapps/mpp/crypto/buy25get25
PayPal is not a good place to buy crypto.
Quoted from dc2010:I just saw the referral deposit!
Ty sir!
You getting a login error on Voyager?
Been locked out for a day.
8C636FD0-3344-461E-9D6D-17259105234B (resized).pngQuoted from Spyderturbo007:It says "between 4 - 6%". I can't find the differentiation. Did it tell you why the spread?
Every Epoch (5 days) isn’t fixed, little luck so it varies
Quoted from Spyderturbo007:Anyone know where you can trade ETH and BTC options? I'd be interested in potentially trying my hand at a call option. I'm playing with almost 100% of the house's money right now.
I use LedgerX for BTC. Don’t use it, but Phemix does the alts too.
Quoted from Spyderturbo007:Can I just open an account and buy a call option for $X if I think the price of a coin is going to increase and then sell it if the price does increase before the expiration date and take the profit? Do they have to be covered calls? I don't have 100 ETH lying around to use to cover a call.
LedgerX is only BTC.
Yes you can sell before the date but somebody has to buy it. You can see all the bids and asks at that price. You have to sell to close on LedgerX or exercise, I never let them run out anyway.
Phemix has alts but again I haven’t used it. So no comment.
Quoted from Spyderturbo007:That's a nice list you have there. I own a little of all of them except TRON and XMR. Crazy to look back 90 days at some of the prices.
I do love Monero.
Interesting article about IRS and Monero from 9 months ago.
Challenge is still up on Monero and Lightning.
Quoted from cait001:kind of shocked to learn people were still using Robinhood (for Doge!) after the whole GME thing
And those same people are outraged when Robinhood closes sales of Doge during plummets. Of course you can still buy during those times.
Compounding that with the fact that you can’t transfer any cryptos with Robinhood so they’re really selling IOU’s.
5F9BA2B9-10B4-43BD-B23A-75D9B78C0E2E.gifQuoted from Astropin:Sold some of my ETH today at $4100. Can anyone guess what I'm doing with the proceeds?
Pussy.financial
Quoted from JohnTTwo:So the IRS just asked Kraken for data on people trading more then 20k the last 5 years. Most likely same letter went to coinbase. Might create a dip then make it more real for people.
Coinbase already gave everything up. That’s how they got green lite to go public. Kraken also plans to go public next year. Assume anything with a KYC is going to IRS. It’s a necessary evil for the evolution of crypto. We need gov and Wall Street now to grow and they won’t join till there are rules in place. I believe it won’t cause a dip but instead cause massive spike. ETF’s in June hopefully.
Gemini has much lower fees than kraken, also is backed by Fidelity.
That’s what I recommended for my dad earlier this year. He’s been happy with it.
Just avoid PayPal and Robinhood.
Trezor and cold card (Btc only though) are good hardware wallets.
Quoted from Baiter:In a way it is. The major thing to understand is that Crypto is more about market sentiment than fundamentals. ETH now has a bigger market cap than most banks, but that's also because it (and other cryptos) can potentially replace ALL banks. People complain about gas fees while forgetting they are paying $2.50 to get $20 out of an ATM, $30 for wire transfers, and 3% fees for every purchase made on credit cards, but that's only the tip of the iceberg.
Coinbase is definitely the way to start... its user experience is light years ahead of everyone else, and they have the Pro version for advanced trading. Don't do crypto in a Robinhood or Paypal account if you can help it.
For best coin coverage you'll want a KuCoin and Binance account, but I've been waiting 4 months for Binance.us to get their act together and validate my account, so I can't in good faith recommend that company. (FYI you can buy Binance Coin on KuCoin). I've also used Kraken, it also is a good exchange with a decent UI.
Eth
I’m not a fan. Overrated centralized platform. Have you ever used it? the gas fees are crazy. I’m not talking about just buying and selling on an exchange. Only makes sense if your doing big things.
Here’s the cost to swap it. It’s all these shit coins and NFT’s clogging up the network. Eth 2.0 has been promised for years and when it comes it isn’t going to be better. I’m not rooting for Eth I hope one of the dozen competitors overtakes it.
Of course my take, the markets will do what they do regardless
Quoted from Spyderturbo007:For those of you that sent ADA to Kraken for staking, anything I need to know about sending it? I know some crypto requires memo lines or additional information that needs to be added to the signing.
Also, how bad were the fees? Are the payouts in ADA or USD? I'm assuming ADA, but thought I'd ask.
You can send it without a memo. Pretty easy to send. I’d pitch using Yoroi for ADA staking. It’s its own wallet. you can choose the pool you belong to but the big pitch is your rewards stay delegate but you can choose when to claim them. This is nice for taxes as you only have an event when you claim them instead of every epoch getting the reward. My pool averages about 6-7%
Quoted from mcvetyty:Hey everyone- Not sure if this is allowed here, but I just came across this post. I've been a long time holder of Cardano and run my own stake pool, ticker TYGAR. Would love it if any fellow pinsiders would consider staking with me. It's been brutally competitive out there for small pools and I'm really trying to get over the 3Million Ada mark so that we can ensure high reward ROA for our delegators. Please check us out and feel free to hit me up with any questions you have at all!
Your numbers aren’t great. Why are the costs so high and pledge so low?
Quoted from mcvetyty:Yep, that's what I'm working to correct.. Unfortunately, "costs" are misleading and poorly reflected for a small pool. The reality is our fees are super low (only .8% compared to a lot of pools at 2-3%). The reason they translate to higher costs is just a matter of our size and luck at the moment. We've gotten some really bad luck the past 6 epochs (two epochs with zero blocks awarded when were we're 'expected' to earn 2). We recently had an epoch that paid out over 7% rewards though and are looking forward to more of those soon. Need to get over the 3 Million ADA wall.
Thanks for explaining, on pledging it’s high now but as a long time holder it’s not that much in 2020 ADA.
Quoted from Baiter:Considering the energy usage of a single Bitcoin transaction I'm not sure how it's possible to run on a Raspberry Pi?
Yea you're right, that's the thing most people miss: as a reserve asset, Bitcoin was never intended for microtransactions. The long term goal was always to perform only [bank-to-bank] settlements on the Bitcoin blockchain and L2 providers would provide the smaller, faster, cheaper microtransactions.
https://insights.glassnode.com/the-week-on-chain-week-20-2021/
They do great analysis at onchain.
Between that and miners not selling I’m sticking with my spread.
https://financialservices.house.gov/uploadedfiles/hhrg-117-ba00-wstate-hsum-20210519.pdf
Who’s this bad for and who is this good for?
Quoted from Astropin:Probably worst for ”stable coins". But they have been a prime target since they came into existence.
Really going to come down to; "Are you a currency, or are you an asset". Anything attempting to be a currency is going to get hammered eventually.
Real bad for stable I agree. Could be bad for some alts and NFT’s too.
Quoted from canea:Ug. Have been sitting on the sidelines after that crash at the beginning of May knocked down my confidence, and now watching this fun. With all of the FOMO money washing out, it feels like it's going to be a long recovery this time. I know all the old hands are just fine, kicking back, buying more, etc. but it really hurts the newbies. If it's not a market newcomers feel safe in, it makes it a tough sell with slower growth. Might be awhile before that excitement returns.[quoted image]
Safe?
If you can’t take 50% losses you don’t deserve 200% gains.
Eth fees to swap can be huge, but really depends on time of day
Eth fees to buy sell or move shouldn’t be big
Quoted from CrazyLevi:Does anybody really "like" crypto?
I mean we are 12 years into it and nobody uses it.
It’s worth more than 99% of businesses.
Yes Levi no one uses it.
Walmart is 400B
Crypto is 1.5 T at this time.
I’ll go for it...
Unfortunately I’ve never had the opportunity to buy drugs with crypto. But my drug days are behind me now so slim chance but never say never. I wouldn’t anyway too easy to trace unless you use monero or lightning, but even then a bad idea just use cash.
I did a sale of RaM pinball in cardano. It was pretty cool, over seas sales and it cost less than $1 to process in fees. took about 2min for the funds to be fully transferred. Had we done a wire transfer with currency exchange the fees would have been a hundred dollars at least.
I’m not really looking to sell any btc atm but it’s not hard to do anywhere that takes visa. I do have a Visa card that gives me btc rewards but for the first month I’m not too impressed. My AMEX has better rewards.
It’s still early for crypto. Again I can spend btc but don’t want to. Think of the internet in late 90’s when people saying it’s a fad and you can’t do anything with it. In a world that’s going digital some crypto will win out, and different cryptos do different things. Blockchain is very powerful tool for what it offers to the world. Example if Chainlink can do what it promises it will revolutionize the medical patient information sharing. And of course some are scams too.
It could be infinitely divisible but it would require another layer that isn’t there currently because it’s not really needed at this time.
Currently
1 btc = 100,000,000 satoshi’s
1 sat = $0.00052 (at this time)
Honestly....if you don’t have time to read a book this might not be for you. Maybe start with the white paper. It’s only 20 some pages.
Saylor says it took him 40 hours to understand Bitcoin, and the dude is an MIT engineer. Took me a lot longer to know a lot less.
Quoted from pinstyle:I have no interest in supporting Bitcoin, I am just asking peoples opinions on economic stability. My time is spent with my family, not chasing money. Don't take that as anything against you, we all have different interests. I will be honest though, if a person can't sum up in a few sentences how they think Bitcoin would be a stable currency that doesn't paint a very good picture. Instead I am instructed to read a book. Maybe some others will chime in with their opinion I am curios to hear how people think things would go.
So if I read you correctly, you are saying no one buys anything with less than 1 bitcoin? Doesn't 1 bitcoin already have a very high value? Hypothetically speaking, I could roll down to the mall and buy a shirt with .000005 of a bitcoin no? (that is obviously a made up figure).
If you don't believe me or don't get it, I don't have time to try to convince you, sorry.
Miami is trying to become the crypto capital of the US. I believe the city employees are offered some or all the wage in btc. There is a big Bitcoin conference in a week or two there. Wish I was going but wasn’t in the cards for me this year.
Quoted from highdef:One example:
A Dominos franchisee in The Netherlands just announced that it is going to offer its 1,000 employees the option to be partly paid in Bitcoin. I say "partly" because Dutch law requires minimum wage to be paid in Euros. They are using a Dutch crypto broker called BTC Direct to handle payments. BTC Direct gave its own employees the option to be partly paid in Bitcoin and mostly everyone in the company is doing it. BTC Direct is working with other companies & payroll institutions to offer the same service.
I think it's a great way to teach younger people money management and finance. I could've used it back in the day, especially when I was blowing my money on CDs and LaserDiscs.
Cool, on pizza day no less.
Quoted from Chalkey:If you guys are looking for cult red flags somebody in this thread just said that something made up in the ether is the hardest currency ever to exist
Ether is different than bitcoin
Quoted from Chalkey:As in made from the ether. It's an idea with no physical manifestation.
I assumed the wrong Ether then, my apologies.
Quoted from Durzel:My ETH is now lower than what I paid when I bought it in Feb. Don’t know why alts are getting so crushed, even compared to BTC. Most seem to be 20%+ percentage loss in the last 24 hours.
The money I put into this I had written off in my head, but still kinda sucks to see a few thousand just evaporate.
The Bitcoin dominance went too far down. It was due for a correction. The alts depend on btc.
How often do people sell Picasso paintings?
That’s an asset.
Spyder, you mess around with the Lightning Network?
It’s pretty solid, takes away the fees on smaller transactions.
PayPal and Robinhood are bad right now because you can’t send or receive transactions.
Gemini, Coinbase, Swanbitcoin are good first time buying places.
Gemini is the only one that insures your crypto holdings. That’s where I sent my dad.
Take a break from the FUD bath.
https://www.coindesk.com/consensus-ray-dalio-i-have-some-bitcoin
Bullish
After his ceo left to go to Nydig.
Interesting interview with owner of Nydig
And a summary of the week from glassnode
https://insights.glassnode.com/the-week-on-chain-week-21-2021/
Quoted from Astropin:Wow...I seriously don't even know where to start. I feel like I could write a novel on why that's wrong...and many have already. But in order to understand it, you would have to have an understanding of the history of money.
Why is a dollar worth a dollar...because we all agree it is. Sure, you could argue that it's because it's backed by the US military...but wtf? At the end of the day, it has value because we agree it has value...sort of like EVERYTHING.
Bitcoin is not a currency... it's a store of value. Why? Because it's scarce (No. 1) because it's secure (the most secure and also the largest network on the planet), and because it's decentralized (no trusted 3rd party needed to transact safely and securely... which solves a problem that previously had NEVER been solved). It represents a paradigm shift in a store of value.
Doge....like the US dollar, is not scarce. There's no cap, therefore; they can never retain value over time. The US dollar has lost over 85% of it's value just since 1971.
These are good points. It’s not this crypto versus that crypto to me. It’s crypto versus fiat. You wanna buy some bullshit? that’s cool with me, I bought a little Pussy. Just know what you’re buying.
Quoted from kvan99:Right on, the biggest take away is scarcity and the security of BC, because the other coins also benefit from the De-fi aspect. The reason I'm here and the reason I threw almost 20k at crypto since last week is because I realized there is no going back....I guess it's acceptance that you were talking about.
PS: the experts are saying there is plenty of room for the other coins to compete...but only the ones filling the gaps in the market. ETH can do things BC can't at this moment, as you all mentioned the smart contract aspect of it. I need to know what will happen to BC and co if the central banks step up regulations against it. For ex: What if Switzerland that's know for it's private banking decides to introduce a crypto. Will actions like that dent BC's growth?
Switzerland is crypto friendly.
No taxes on crypto gains either, same as Portugal.
Yeah I’ve used MetaMask on uniswap.
All trades went through with 1% slippage.
Same trades have ranged from $300-$20 gas fees in Eth depending on day and time. Be wary of whatever shitcoin you get, there needs to be enough liquidity to get out of when you want to leave... and you need to save enough Eth or bnc to pay the gas fee to trade out if it.
Edit Just checked cheap right now.
Quoted from taylor34:Is there even that big of a market for 'store of value'? Just realistically, the total gold value is only about 10 trillion, not like 100 trillion. There are other metals, art, etc that are also things like this, but gold is probably the biggest equivalent. So that kind of means the market cap of all crypto stores is value is probably capped at around 10 trillion (once it gets out of this hyper speculation phase). So a 10x gain from here is like 'best case' and probably only has a small chance of happening. To expect it to be higher than gold seems unlikely barring some sort of critical adoption from governments, kind of the law of large numbers issue that companies have when they get too big...Berkshire can't grow like they want anymore because in order to move the needle they need to make very large acquisitions now, small companies just don't help.
Bitcoin will run into the same issue eventually here, 1 Trillion to 2 Trillion basically will require all of the money that's gone into bitcoin in the past 10 years to double to get it to 100k. And then another Trillion to get it to 150k probably. So it starts to become harder and harder to move the needle for % gains. It's the same reason that Amazon, Microsoft, Apple, etc doubled over and over again until they got so large that doubling is very hard to do. People are using extreme leverage into Bitcoin to move the needle but eventually that reaches a point where it doesn't work, kind of like where Telsa has gotten to now.
Apple for reference took 42years to get 1 trillion in 2018. To get to 2 trillion took them till 2020 so 2 years for second. Bitcoin runs different than stock to raise the market cap too.
You’re also assuming that the US dollar keeps a steady increase. Our debt, bond market, and dollar inflation is going to go parabolic. It would stand to reason major influx could happen. End of the year or next year is going to interesting.
Personally I think Astro is over bullish but wouldn’t complain if he’s right.
I took some high long btc calls Dec 2022.
Quoted from Spyderturbo007:I disagree with this completely. There are a lot of utilitarian coins that serve a purpose, but they are still "finding their way". I'm just now starting to see platforms that interconnect and provide a service. Like the online gambling platform I posted a link to above. LINK and MATIC self executing contracts (payouts in the case) when teams are finished playing. Keeps everyone in line and prevents fraud or manipulation.
Countries are starting to beta test platforms for issuance of CBDCs. Corporations beginning to look at DeFi and so on.
Right now, yes, they are all tied back to the "heavy hitter" that is Bitcoin, but not in a liner fashion. Alts were still climbing when BTC was pulling back. A lot of my Alts recovered pretty quickly yesterday while BTC is still struggling to find support.
You have to remember that this entire technology is in its infancy, so the entire sector is going run together. As we move forward and alts find their place in the space, you'll start to see sectors moving independently of each other. DeFi one way, Layer 2 protocols another way and so on.
Do they move together right now, yes. Are they all shitcoins for doing so, absolutely not.
Inter connectivity is going to be huge soon is my bet to. Even with cbdc too. Polkadot could be a game changer. Parachains coming in two weeks, plus it’s still down from last weeks levels, plus you can stake it while you wait for 12%.
Downside is it’s mostly speculative at this time and could under deliver but the team behind DOT is pretty impressive. Also look at Kusuma it’s a cousin to Dot. Currently Dot is my biggest holding after BTC I feel it has a great risk/reward.
It’s a derivative play as an option.
https://www.investopedia.com/options-basics-tutorial-4583012
Making a similar ish bet against Astro’s bet.
I was playing around with doing some liquidity pools on uniswap yesterday. Anybody done this before? I have some questions.
Yeah that’s the best I could find using US places. I’m not too keen on vpning to deribit.
Yes the passwords and usernames across so many exchanges and wallets is hard to track.
Bitcoin car in Indy500 today, first time rooting for a car. 5th place right now.
https://www.google.com/amp/s/www.coindesk.com/nashville-tezos-irs-tax-suit%3famp=1
Interesting case about staking, I hope they win.
Also if you like staking, you should look into liquidity pools. I don’t know enough about it to fully recommend it but so far the returns blow staking out of the water.
Quoted from Spyderturbo007:Do tell. I’m listening!
So bear with me here as I’m learning this new to me space.
I’ve been in for about 51 hours.
Went to uniswap and paired Matic to Eth and pooled them. When I added the pair the value of the match was about 1850. With equal parts from each pair. The value of both has increased so my pool has increased. But if one is lowered the value is lower. Nothing special so far.
Here’s the value.
The funding pair you are providing is then used to help transfer tokens between each other for the ecosystem. Based on what you’ve added to the liquidity pool is what you will earn.
Here’s a screenshot this is 51 hours of payout also note the amount is compounded. There are some risks I’ve heard but I’ve pick pretty big ones to lower the risks.
466BCB6E-B944-45E8-A1FE-CBF8A6DBAD8D (resized).jpeg
Quoted from Jecco74:I am all in on safemoon for the long term. There is talks about them having a blockchain soon. We will see in time.
Another great hype coin that was created 12 days ago is CLU. DNP3 is a streamer on twitch with a large following. He has recruited a high level Dev team. This coin will be a good investment for a couple of years down the road in my opinion. This is his 5th start up company.
I was in on CLU from day one and have already 10x my initial investment. I have bought more as I learned more about DNP3 and his vision.
Both safemoon and CLU have a community behind them. Now all they have to do is create a solid utility and get the word out.
I’m curious what % of your crypto is these moonshots?
I’m about 10% in the shit coin market.
25% alts, 5% options and 60% boating accidents.
Yeah I was looking for more a few pages ago.
There’s Satori chips, nasty mining coins, lealana, crypto imperor, etc.
Be very wary of scams in these field. Fake coins and scams are in around.
Quoted from Spyderturbo007:Sure. I'll take a look this weekend. I'm at work until 5pm and don't want my search bar filled with pussy coin.
Excellent, I prefer a deep dive into Pussy so no rush.
Robin doesn’t allow you to send or receive crypto.
You are buying IOU’s from RH, they can also halt trades till the price moves to benefit RH. On Doge first run to .08 my friend sold and they held the order for four hours till the price moved to .03 and since it was all on an iou system nothing was reported on a blockchain.
Both those are big issues
They announced they will fix the first problem but it hasn’t happened yet.
Quoted from Astropin:I was listening to the President of El Salvador speak live on Twitter in a Bitcoin group as this was going to a vote. He was chatting away for 40 minutes and being asked a million questions. It was kind of surreal. Chat group stareded out with a few hundred Bitcoiners, and by the time the President was talking there were over 22 thousand people in the group.
About 1,500 ppl on Clubhouse listened too. What a milestone for crypto, should be a wake up call to the FED but they likely couldn’t hear it over the BRRR…
Interesting times for sure, China is going to start pushing their digital currency not only in China but in Africa too. US digital currency isn’t ready and even if it was who would be excited about it?
The irony of it being El Salvador first isn’t lost either, how many more countries adapt this year? Paraguay, Panama, Mexico and Brazil seem likely, the biggest barriers will be getting everyone a smart phone education and setting up lightning nodes.
No, lightning on Strike or Blue wallet etc are designed to work for low cost quick transactions. It’s beneficial for any location to setup and run their own node but not required. All that is required is two phones or computers with the software.
It’s way better than the money printer goes brr run in US Canada and Eu.
That’s why El Salvador is losing faith in US, they aren’t the only ones.
You could argue as usage expands then the value will increase over time during the expanse.
Btc price one year ago was 9k.
Quoted from taylor34:It's too tied into the rest of the market, it will get flogged along with everything else in a major correction. But even things like gold get flogged in a major correction initially, then recover. I made big profits last year on silver when it crashed way down to stupidly low levels. Something like IVOL might do well in a correction since it's designed to do better in high volatility environments.
You’re making a mistake if you compare btc to a stock or that market.
Quoted from taylor34:By what metric? Of course it's a different asset class, but he was asking about how it will act in a crash, and last March it acted EXACTLY like the rest of the stock market. Gold was about the only thing that didn't have a major selloff, it only moved down 5% to 10% before moving higher much faster than everything else (silver though went from $18 to $12, which is why I bought a large amount of it there...I couldn't see any downside at that low of price).
It's because the same people who are pumping meme stocks, growth stocks, etc, are also pumping crypto, all part of the get rich quick thing that's currently in the market. They're just rotating between the sectors. It doesn't mean that there isn't value there, it's just that the same related strategies are being used in all of them, so in a liquidity crunch situation like last March they're all going to suffer in the same manor.
Now something like real estate, there's an asset that has a pretty big disconnect from the rest of the market. Moves very slow because the market is inefficient.
There’s only one reference point to a crash in stock/crypto world. I don’t think that’s enough data.
Anybody else in Dot/Kusuma?
Kusuma had a great run yesterday, I’ve been getting into parachains. Pretty interesting stuff.
Polkadot doesn’t really have a working product yet…for me it’s just staked on Kraken. I got in right after the Kusuma free airdrop.
Which brings in Kusuma.
Kusuma is suppose to be the test network but since it launched last week some developers are saying they will stay with Kusuma rather than migrate. The last week has been a wild ride.
I’m hoping Dot follows with how Kusuma behaves from launching though it’s temping to move my dots over. Atm my Kusuma is split between a 20% apy stake and a Karura parachain.
I feel Polkadot has great potential but the counter edge is that it could under deliver and under preform.
https://www.tradingview.com/symbols/CRYPTOCAP-BTC.D/
Dominance has been out of wack lately. It’s correcting.
The alts depend on btc. It’s why eth can’t flip btc. If it did the whole market would flip out and there’s no model for that.
Crypto markets do not behave like stocks. You have to unlearn some of the stock stuff
Quoted from littlecammi:I went "green" when I purchased my last car (photo below). Just to help the planet's ecology, of course.
[quoted image]
(I keep testing to see if people in this thread have a sense of humor.)
We do, when will you start?
Quoted from fosaisu:Sure. Which you could argue is a serious design flaw.
Not a flaw
Quoted from Zablon:It's all about "I've made this great new idea, but how do I fairly roll it out". You can't. You are correct, it was a serious design flaw. The only reason people saw it as good at all is because any random person could buy equipment to get 'free' money - which wasn't free. In the end though, a few random nobodies get uber rich, but the banks and old guard will still hold all the value - otherwise, they won't allow it to happen.
Allow it to happen?
They can’t stop it…
Short of destroying the internet
Quoted from Zablon:Slow the hype train a bit. You are speaking way too much in absolutes. This isn't some leaked movie.
That’s a great argument.
You must be a master debater
Quoted from taylor34:I don't believe that can be true. Because if someone made a super efficient power way to mine it, that would mean it would be worth less.
The power usage currently is a drawback in my opinion that hurts it in current world where energy conservation is becoming more important. It may have been intentional at the time but 10 years later it's probably not the best approach.
I disagree, can’t be worthless.
If there was a super efficient power source they would still need the miners to do it. The entry cost is so massive they would have to recoup it some how…hence the price.
Now the cost of supper efficient power supply. Closest I can of what your suggesting is, Marathon is trying to build a Thorium reactor. Last I heard they estimate the cost of one reactor will be 11billion but could fit on a semi truck. For reference NASA is involved and wants to use Thorium reactors for a power supply on the moon.
But that’s only half the equation, you would also need the computer equipment. To get the super efficient power there is going to need to be a tremendous amount of work and money in. To recoup those costs you would have to charge for mined product.
Into the game theory of Bitcoin, with the built in halving happening every four years the incentive to mine should decrease over time. Like how in the first 12 years over 75% of the coins have been mined. Yet the last 25% ish will take 120 years (Numbers are alittle rough but close enough). The halving also should stabilize the price as btc matures.
(This my understanding but I’m not a miner maybe someone with expertise in the subject could chime in)
Quoted from Pdxmonkey:So bear with me here as I’m learning this new to me space.
I’ve been in for about 51 hours.
Went to uniswap and paired Matic to Eth and pooled them. When I added the pair the value of the match was about 1850. With equal parts from each pair. The value of both has increased so my pool has increased. But if one is lowered the value is lower. Nothing special so far.
Here’s the value.
The funding pair you are providing is then used to help transfer tokens between each other for the ecosystem. Based on what you’ve added to the liquidity pool is what you will earn.
Here’s a screenshot this is 51 hours of payout also note the amount is compounded. There are some risks I’ve heard but I’ve pick pretty big ones to lower the risks.[quoted image]
Mini update. Two weeks since first picture.
A9395FCE-B690-47A9-87E1-913BDCD39326 (resized).jpegEth gas fees are only on liquidity pools. And is a fee only in and out.
Staking Ada costs about 0.06 Ada.
Staking Polkadot is free to do.
Anything on Kraken is free to stake.
Quoted from Frax:Yeah well, there's a reason why my crypto investment thus far is like 1/136th of my other retirement stuff, heh. I'm not putting in crazy amounts, or taking away from what I'm doing elsewhere. I spent 50 bucks earlier today as an birthday present to myself. Most weeks, it's pretty much zero new money into crypto. Still, one can never truly know enough, while I'm not buying a lot of crypto right now, it's good to know how things work, especially if this becomes a bigger facet of the overall finance picture.
This is what interests me about defi liquidity pools. So far the best staking options I’ve found is
Polkadot 12% kraken
Kusuma 16% Fearless
Kava 20% kraken
These are all set apy rates.
For LP
On my Matic/Eth pair it’s harder to calculate because the reward is dependent on demand of the pair. But I think if demand and price is constant I would get about 32% apy but I don’t think it’ll be constant. My pussy/Eth has been paying better than the Matic /Eth but is much riskier.
I’m also experimenting with parachain auctions on Kusuma.
Quoted from taylor34:Here's a question, is there any crypto addressing the issue of game, movie, music digital rights? Like what I'm talking about is something that would allow users to buy and sell their digital copies of things, much like we did with games, dvd's, records, etc in the past. That's like the killer app for some of this stuff, but searching didn't turn up anything.
Theta is the only one I can think of in video but is different than what you’re suggesting…
NFT’s could evolve into something like that. Eminem sold a beat as an NFT.
Quoted from PhilGreg:I'm pretty sure I could look this up easily but since you guys seem to know... I thought the NFT was only the proof of ownership of something, whether it's physical or digital - but are you saying that you need the key to "access" or "view" this thing as well? For instance only the person that has the key can listen to Eminem's beat?
But then after that surely nothing prevents you from recording it and distributing at will as an MP3, but there's still a single "registered" owner, right?
So I guess I'm kind of answering my own question - even if it was "key protected", people can easily get around that (for the movie, for example, record the screen itself as it plays), but the NFT is really the proof of ownership.
And to answer Taylor's question, that means it would probably have the same fate as DRM - a lot of added complexity to legit users, easily circumventable for non-legit people.
Back to NFT’s I’ve heard two good use cases so far. Let’s say you’re into World of Warcraft and have a character in that virtual world. You can purchase an upgrade like say a hammer. Right now that item your character holds is linked to Blizzard’s system. If it was an NFT you would own that upgrade. Second is the same item that you buy in the physical world you can own it in the virtual world ie house, art, etc.
It’s still very early for NFT’s and about 95% of them now are worthless but could evolve into something.
Quoted from Zablon:The bulk of talk is around BTC since most if not all more or less follows suit.
Halving increases volatility in the beginning and since the halving decreases impact as time moves on it should become more stable.
I mean you could say that about any art really. It really does come down to the integrity of the creator and strength of the network it is on.
I haven’t bought any NFT’s and think the concept is still very early but it has some potential.
Quoted from Frax:Potential, yes, but currently it's fully unrealized, and anyone spending money on this garbage is getting literally nothing in return, unless they manage to find the schmuckier schmuck to pay even more than they did.
I did a painting of a moogle from Final Fantasy a while back. Can I NFT that, or is it Square's property? If I keep the original painting, and the NFT is only for digital rights, does the "digital ownership" really exist, since I've never taken a high-rez photo of the painting or had it scanned in any way? These lines get even more blurry when we're talking about content created entirely in the digital realm. Maybe I'll NFT my Voltron vector redraws that I'm going to use for the WPT->Voltron conversion project (Yes, that's still a thing that I'm set on doing even though I've made almost no progress in the last 2 years due to money).
If I was seriously considering buying a NFT, I want to know exactly how I "own" anything other than a token that purports that something artificial belongs to me. I want to know who's allowed to legally reproduce that thing, how I enforce my own rights of ownership etc, and I think these questions all remain largely unanswered. A blockchain showing that a NFT belongs to some address doesn't tell me WHO it is. It doesn't tell me who I need to talk to in order to license or otherwise secure permission to use that content if I want to use it.
They're going to have to tie these things to something more concrete than just a single mostly-anonymous blockchain entry if they want it to progress beyond this moneymaking speculator crap, and into something that's legitimately viable for BOTH content creators, and purchasers, to want to take part in. Eventually, the idiots will run out. It might be to the next fad, or just because they all eventually realize that they don't actually own the rights to do anything at all.
Hell, I have an EDM album that I made 20 years ago that I'd love to sell as a NFT. Let's start bidding at.... 100k, but I'm keeping the original files. I'll send you the token.
That’s pretty much how it works.
This is a popular launch style to do a three tier launch.
They will sell one of unlimited tokens for a brief time for cheap, under $10. Once the window of time is over however many were bought is however many they make.
Second they will have a physical art piece and a matching nft that is linked say 1 of 25. These usually go for a high price.
Last they will have a special 1 of 1 with a physical item and an nft. Usually this goes to highest bidder.
This is the model to sell some celebrity’s shit. Like Paris Hilton or Eminem’s stuff. You need a big name to attach or else no one wants it.
Camels and apes are hot right now.
This is a totally different market strategy.
The auctions are often bought by the artists group so disregard the inflated ‘sold’ prices.
Personally I think all that is garbage. But one person’s trash…
Now to where it makes sense is upgrades in games. If you had a Fortnight or Roblox NFT that gave the owner a power. That might be worth something…Pokémon or Magic Gathering would also make sense to enter the NFT world on an ecosystem they could control.
Quoted from sixtyfourbits:A big part of today's dip is due to the large shutdown of Bitcoin mining in China. But action is already being taken to move those mining rigs over to the USA. So we will likely see continued damage to crypto prices as bitcoin's mining hashrate remains low, but I'm betting when things get officially up and running again in the USA, and the hashrate goes back up, and the US takes over as one of the bitcoin mining leaders, sentiment will change pretty quickly.
Right now I'm seeing about 50/50 split for bullish/bearish technical support. So I don't think I'd be too surprised to see it move either way. If I plan to stake and hold until the next halving, then that relieves a fair bit of the pressure of what today, tomorrow, this month, etc. brings. To me the future still looks bright.
The China move is interesting, I was listening to Jason Williams talk about the China miners available this morning. He says the available miners for sale from China doesn’t add up.
He thinks the miners are moving within China and not out of China.
Quoted from Cheeks:Is it still worth it to buy a Helium miner? Was planning to get 2 and put one at my parent's place. They're still way backlogged and I know they have a halving coming in Aug. I really wanted to get in on some noob-level mining, but I'm wondering if I've missed the boat on this one.
Thoughts?
I ordered in March and am still waiting…when I ordered they said June but updated to Sept (don’t get a calchip). my friend has one and is cleaning up, he’s making about 250 helium’s a month. Have you checked the area map?
It’s a great idea if helium price stays up, no one can guarantee that the price will stay up.
Quoted from DBLM:I don't follow crypto as closely as some of you (I only have a few grand in it) but I am a big stock investor and finance guy. I think crypto has significant headwinds in front of it right now and I would urge caution before throwing money in this right now. Spyderturbo007 asked about when you pull the ripcord and as an investor, I would think that if you have gains you might consider locking those in now. I think this thing can fall further so do not think this is the time to average down (I myself am not averaging down at this time because I don't think we are at bottom).
I know that folks have been touting crypto (particularly BTC) as a store of value and that they hold these beliefs dear. I think the volatility that we are seeing proves that we are not deep enough in the maturity cycle yet for BTC to be a true store of value and that instead, it is a speculative investment at this point. Please, please be careful out there with your investments. This is not calling anybody out and is not my intention. But when your investment drops by half and you have the governmental headwinds that is a time be diligent when you make investment decisions.
GLTA.
We’re past the ignore and laugh at phases. The fight stage is here.
Anonymous is kind of a myth…everything is traceable on the ledger if you know how to look. Btc is awful for illegal activity now, Monero or cash is the one you want
Quoted from steigerpijp:You don’t seem too fond of him…
He doesn’t bother me, don’t want to speculate but that would be the most epic ending maybe ever.
Quoted from Spyderturbo007:Interesting.......[quoted image][quoted image]
His last tweet was alittle grimmer though.
Lost btc is a donation to everyone else.
‘Lost btc’ can only effect if becoming active again. Satoshi has a wallet with one million btc but it hasn’t moved any in 10 years or ever. Those are considered lost but if even a the tiniest fraction moved from that wallet it would prove that someone had access to them and the overall price would drop significantly.
Regarding hardware verse exchanges makes no difference. The Bitcoin doesn’t move to the hardware wallet only the keys.
Not your keys, not your cheese.
You do realize that staking and mining are the same but different things right?
Proof of work versus proof of stake. And that no same system offers both so you have to pick Crypto A versus B. By its own merit A or B could win regardless of the type of proof.
Mining also has added costs of electricity as well as heat and noise. Your equipment could also become obsolete. If you follow the halving cycles there are times when ppl shut off the miners because it isn’t profitable (depending on the scale of business and the difficulty to mine).
Definitely pros and cons and a gamble either way.
Quoted from sixtyfourbits:Not sure if that was meant for me or Taylor, but yep I knew that. Though I’m trying to articulate my point as I’m half asleep, so maybe it came across poorly lol.
Yeah that was directed at Taylor…didn’t see you had posted in between.
1 week later
Quoted from Astropin:Talk about bouncing around inside a range... Jesus. When's it going to breakout? And, will that be up or down?
I listen to Krown’s TA, he suggests break out in about 7 day no direction though. Explains both scenarios.
Things in July
Greyscale gbtc unlock
Musk v Saylor debate on energy
Warren’s questions to SEC due
Rent moratorium ends (not directly related but could be interesting)
ETF waiting for approval
Quoted from steigerpijp:Hmmm .. Clamping down on EU off-ramps by canceling sepa/Iban payments .
Might not seem big of a deal stateside point of view , but Europeans are not as much into credit cards etc . Direct banking is big here and only a few exchanges left that are willing to take direct fund /return transactions .
Not funny
So you can’t fund using your bank account when these changes come?
No exchange here takes credit cards as far as I know.
Doubtful…
Look at who has offered crypto services this last year…Visa, MasterCard, PayPal, Fidelity, Goldman Sachs, and Fidelity by backing Gemini. Coinbase was added to the Nasdaq…
You think this and the tax revenue from crypto is going away?
Quoted from Spyderturbo007:If the $30k support level cracks (which it most likely will), the next projected major support level is $23k from what I'm reading.
It's been a slow bleed for awhile now, with no end in sight. For the first time since 2017, I'm regretting HODLing.
If it doesn’t hold 32 for cme close. I’ll probably open a short this weekend.
The event sixtyfourbits mentioned
https://www.thebword.org/c/the-b-word
Looking forward to the Musk / Dorsey debate.
I believe Btc dominance is still due for a rise, and if price drops too, look out alts.
Quoted from Pdxmonkey:The event sixtyfourbits mentioned
https://www.thebword.org/c/the-b-word
Looking forward to the Musk / Dorsey debate.
I believe Btc dominance is still due for a rise, and if price drops too, look out alts.
Panel is live now
Cathie Wood, lyn Alden, and Nic Parks there as well
Nice price pump ahead of panel, wonder if it will hold afterward.
Quoted from Pdxmonkey:Axs ripping.
Should have thrown more in.
And out…damn I need a smoke after that ride.
I used MetaMask. You can get almost anything Eth based there or use uniswap.
Sold alittle early it’s at 48 now, yesterday when I sold it was about 40 but pretty much doubled in 10 days. Leads me to believe it will get a big jump when any major exchange carries it.
Quoted from Durzel:On the one hand it's interesting that they are looking into blockchain technology, but frankly they'd be stupid not to? I imagine a lot of technology companies are looking at the space.
As far as I can make out an "insider" said that they would be looking at accepting "Bitcoin, Ethereum and Cardano" alongside creating their own coin, or something. There doesn't seem to be anything more than that, certainly nothing official, yet it led to quite a pump. I'm not complaining, of course, but being pragmatic I don't see how Amazon advertising for a blockchain-focused tech role means an existing cryptocurrency is going to be adopted by them.
You could make a compelling argument that the market reaction to this part-real, part-speculative news is actually counterproductive to the goal of getting a crypto adopted by them. If them just maybe-sortof-perhaps adopting it creates that kind of movement in the market, then another company would end up having a measure of control over Amazon by proxy. Imagine if Amazon started accepting, and banking Bitcoin, and another company (or China) decides to give them a bloody lip by seeding negative news and devaluing their holdings etc.
I'd be curious to know who this "insider" at Amazon was, and what skin they have in the game. In the world of stocks & shares that kind of market manipulation would certainly attract some SEC attention, I think.
the upswing was more related to liquidating shorts than the Amazon news.
Lol
https://www.stonercats.com/
Looks pretty fun.
Doing great on second hand
https://opensea.io/assets/stoner-cats-official
Cut and paste.
I think the next big thing to be popular will be DAO’s. That was the 100% sell out reward on Stoner Cats.
Quoted from nicoy3k:“ We believe that content creators and fans should be able to connect and trade art directly without all the bureaucratic bullshit, to put it *bluntly.*”
Yea ok, everyone that bought this trash did so as a speculative “investment” gamble. Total scam.
So far my only takeaway from the trash is that ethereum sucks ass. Gas fees are too damn high.
1A737471-CCF9-4FDC-AC87-ED14BBDE62B3 (resized).pngAt the moment gas fees are alittle high but not crazy.
But if there’s some drop it’ll probably be congested.
There’s three versions of the amendment.
Imo,
Two are terrible and one of those is terrible ones is supported by the White House. I hope it torpedo’s the entire bill to be honest, but it’s infuriating to see last minute additions to bills that don’t relate to the bill.
The amendments are pretty bad for most crypto, maybe not Doge ironically.
Quoted from Pdxmonkey:There’s three versions of the amendment.
Imo,
Two are terrible and one of those is terrible ones is supported by the White House. I hope it torpedo’s the entire bill to be honest, but it’s infuriating to see last minute additions to bills that don’t relate to the bill.
The amendments are pretty bad for most crypto, maybe not Doge ironically.
Here’s a good summary…
https://techcrunch.com/2021/08/06/crypto-biden-amendment-infrastructure-bill-proof-of-work/
Quoted from PhilGreg:Ok, going back to the bill itself - how come BTC is up about 4% today at this moment - given what I'm reading I'd think it would be down 20%...
Quoted from Spyderturbo007:What's everyone know about CBDCs? Looks like Jamaica has partnered with eCurrency Mint (https://www.ecurrency.net/) for the release of their CBDC. I'm assuming that means that eCurrency is going to build a centralized native blockchain for the currency? Is that the correct assumption?
I was hoping that some of these countries would opt to jump on an existing native blockchain like ADA, MATIC, etc. But it appears otherwise.
So far it’s Bahamas (Sand Dollar) and China ( Digital Yuan) that have CBDC test nets running. China is not national adopted yet, while Bahamas is. Both are their own blockchains and not really considered cryptos.
I understand why it’s great for nations but why is it great for the people of the nation to use it?
New Kialara hardware wallet art piece out now.
https://kialara.com/product/silver-series-2021-exogenesis/
These sell out and appreciate in value (usually). While they do appreciate in value it isn’t even close to how btc appreciates.
Quoted from Spyderturbo007:Are we allowed to swear around here....because F$cK this guy.[quoted image]
Wonder how much money he got to be the fall guy.
Quoted from robm:Anyone know much about world money token? A few people who's opinion i respect have suggested it has potential.
First I’ve heard of it… not available in USA.
Might be tricky even with a VPN because of the kyc
Sounds like people are quitting their jobs to play the Axis video game and earn these tokens…
Personally I haven’t played the game…just trading on the sediment and TA. This was a play I don’t like staying in long. Like Doge if I enter, would like to be out pretty soon.
Quoted from Durzel:Apparently it was added on Wednesday, which explains the pump. Seems to happen with every coin that Coinbase adds, sortof like an institutional blessing.
I'm interested in it but at the same time feel like I've missed the boat already at this point, as seems to be my lot in life with this stuff. Promised myself I wasn't going to stick any more money in as I was down by such a considerable amount, but as I'm sure many of you are I'm actually getting closer to parity at the moment.
Smart, it can be dangerous chasing gains.
I haven’t rebought any.
Anyone good at word games?
Pussy.financial is doing a word puzzle. If you can guess the wallet phrase it’s about 200m in tokens. Over 5k usd. Not many people trying too.
Hints summary - IT’S GETTING CLOSE
Word 1: A $Pussy likes catnip, a $DOGE likes a
Word 2: $SUSHI $YAM $BAKE $KIMCHI consumed at night is called
Word 3: Hint - #FreeBritney #Gimmie
Word 4: Hint- A coMbination but not cryptography
Word 5: Hint- Pwei, Twei, Gwei, Mwei, Kwei, and Wei are all units of #Ether
Word 6: Hint- The process of hiding your blockchain transaction. Not ing
Word 7: Hint - Dry, not sweet and fleeting.
Word 8: Hint - EIP 1559 underground
Word 9: Hint - 5,9,19,47,4
Word 10: Hint- It may be a #doge but we welcome him to our charts
Word 11: Hint - They say ‘ wen lambo ‘ $PUSSY people say ‘ wen __ ‘
Word 12: Hint- Alone I am less then nothing. I’m stubborn yet I show much.
Word 1 is bone (confirmed by contest organizers).
Quoted from Astropin:I do have to say that I have a fundamental issue with this buzzword being thrown around..."DeFi".
One thing first. To my knowledge the only crypto (with any reasonable network effects) that is truly decentralized, is Bitcoin... that's it.
All of the top alts are centralized. ETH, Cardano, Link, DOT, BCH, LTC....and on and on...
So what's with this buzzword?
"DeFi refers to a system by which software written on blockchains makes it possible for buyers, sellers, lenders, and borrowers to interact peer to peer or with a strictly software-based middleman rather than a company or institution facilitating a transaction."
Okay? But if the underlying blockchain itself isn't decentralized, should the term still apply?
I would say yes as the lending is the focus not the tokens.
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