Crypto & Blockchain

[IMJ]

Anyone do any buying, selling, hoarding?

[Leo656]

[IMJ]

Originally Posted by sdp

You know when you see a thread on a place like the drome it's time to get out. Seeing Ripple in the tag? second red flag.

LOL! I half expected people here to respond that they are buying XRP like crazy now. Fu(k!n Technodrome. -shakes head- But either way go easy on me and everyone here - I at least gave a poll option for investing in Turtle toys. But I guess in all seriousness, I forgot my audience here.

In any event I imagine that you were the early adopter respondent. Are you sitting pretty right now or did you liquidate at some point?

Originally Posted by Leo656

https://lh3.googleusercontent.com/pr...0GSIe8nPQo1fyk

That turtle option might be more viable than we'd guess. I'll let you know when I have that Turtle event I mentioned.

[Leo656]

I just really like the meme and it comes in handy when I have nothing to say.

I was very interesting in bitcoin in 2017, and I totally believe in it, It fit the natural of a money. I really wanted to buy some of that but didn't know how at that time. I think I can afford ten grand for that back then. I still don't know how to own some of it now. Maybe I am still not having enough motivation of being rich.

[IMJ]

Originally Posted by nylemon

I was very interesting in bitcoin in 2017, and I totally believe in it, It fit the natural of a money. I really wanted to buy some of that but didn't know how at that time. I think I can afford ten grand for that back then. I still don't know how to own some of it now. Maybe I am still not having enough motivation of being rich.

You can buy fractional, so don't let the total sum price scare you if you are interested in that market.

It's my opinion though that bitcoin has five years or less for total market proliferation. I've been saying it for years - no Federal government is going to let a private currency becoming the main transacting agent for an economy.

My guess is that in five years we have USC - United States Crypto or something to that effect. BTC will still be there - they can't make it go away completely, but my guess is that it will be regulated out of any utility.

ETH has utility built in to it's functionality though. Something like USC could be built into the Ethereum network maybe without the public even knowing.

Originally Posted by IMJ

My guess is that in five years we have USC - United States Crypto or something to that effect. BTC will still be there - they can't make it go away completely, but my guess is that it will be regulated out of any utility.

ETH has utility built in to it's functionality though. Something like USC could be built into the Ethereum network maybe without the public even knowing.

I agree the idea of bitcoin is kinda utopian though, still the life of the central government system is very strong, anarchism is just for fiction novel. But Its rarity make it like gold (old wine, diamonds, Eastwood's Gran Torino, etc. these are consumer goods which maintain value so I think they sort of are). Government can't make gold, they dig them from gold mine. The same idea is as bitcoin, they "dig" them from computation. US Treasury can print money if they like, but not bitcoin.

Originally Posted by IMJ

ETH has utility built in to it's functionality though. Something like USC could be built into the Ethereum network maybe without the public even knowing.

Due to my English or my ignorant of ETH or something else, what the functionality you mean? If I guess correctly I think the only functionality of the money and gold is its value(which is its rarity). Two traders both acknowledge the value of the stuffs they exchange. Think about ancient people treat beach shell as "money", George using three shell buy Jane's one sheep, and Jane can using her shell buy some clothes. Shell have no "main" functionality, sheep is more useful in ancient people's opinion, they are just rare and easy to maintain. So shell in essence is like a contract(both US dollars and gold), contract are just some bunch of papers(you can't own anything with these plain papers), but as long as enough people (a tribe or a community which is sort of big enough) acknowledge its value behind it, it can have value (or I can say people acknowledge it's value).

For my knowledge I have no idea how to run USC, cuz it's conflict with the idea of gold, it will only replace US dollar. The only issue of the bitcoin alikes are the scale of the people acknowledge it as a safe-haven assert(like gold). When US Treasury print too much Dollar and if USD lost its credit, bitcoin alikes will be the trusted assert if they are acknowledge it. So the competitors of these crypt money are themselves each other and gold in my opinion.

I thought my previous post make the topic to another direction, due to the character of bitcoin, I agree you the bitcoin non-central idea will not work out unless the whole current world system collapse, gold is not easy to overthrow, Mars or Venus have not enough gold I think, the hype make the investers gain a lot of money, the bubble will be broken one day. But who don't want to gamble it, at least I do, but too late for me. Too high to buy.

[IMJ]

The ETH Burn has begun! Just over 5,200 ETH has been burned so far since yesterday!

BTC market cap is about 1.7 trillion right now.

Sometime back I converted several ETH into BTC. I'm still good with it, but I'd say 5k ETH is a certainty, 10K ETH is very possible. Some people are saying 17k ETH.... I have doubts about that, but the market cap ratios are going to be enhanced by this burn, removing some of the ETH from circulation. The next thing to hope for is that gas fees are fixed.

If anyone needs a heuristic guide for goal-setting, here's something to look at:



For anyone considering selling in the next 4 months or so versus long-term-holders here are the 2021 Capital Gains charts for consideration:

Originally Posted by sdp

Seeing Ripple in the tag? second red flag.

LOL! Still feel the same about your Ripple/XRP dig here?

[IMJ]

Originally Posted by sdp

I don't follow ripple, I don't like it so I don't care how it does. But I'm still wary of the bull run continuing, then again I've made some bad calls this bull run that have cost me tons of profit, no losses but i've timed my profits incorrectly.
This bull run was very different so I don't know how to time it.

Well.... I'll clue you in to something that most people get caught up in the bull run moniker and they don't realize the truth.

The truth is that if you are a growth investor with the correct buying and holding tenets, then being in a bull run or a bear market doesn't mean a thing. We all hear "the bull run is ending early January!" or whatever and people who have no idea what that means freak out and sell.

The truth is that if you believe in a given project and dollar cost average over time, then bull run/bear market means nothing.

Simulated Quote To Make My Point

Originally Posted by Media Catastrophists Like Wolf Blitzer

Media in 2019 - "Bitcoin PLUNGES to $100!" \ Average Internet Commentary "OMG Sell it, sell it, sell it!
Media in 2020 - "Bitcoin in PRECIPITOUS DROP during market downturn to $15,000 from all time highs!" / Average Internet Commentary "OMG You'll lose all your money with that stuff! SELL SELL SELL!"
Media in 2021 - "Bitcoin PLUMMETS to price death in setback to $50,000" | Average internet commentary "That stuff is a SCAM! SELL IT GET OUT OF IT OMG!"

SDP, unless you are a day trader in and out with computers and price charts looking at the five hour all day long (which I absolutely doubt) then who gives a $#!( about timing a bull run?


Also, for anyone actually interested in this topic - although SHIBA INU is allegedly pumping right now, if you are going to be into meme coins everyone should be looking at SAITAMA right now.
Don't say I never put it on the radar.

[IMJ]

Originally Posted by sdp

I like the bear market because I find it easier to predict so I can make money day trading. During bull markets I just DCA. Right now I really don't know if we'll get close to 100k or if it's a double top and not a bull trap and it's going down. Hard to predict a lot of retail money coming in. I'm not losing money but I want to maximize my profits and dare I say #makeit?

Um.... dude you've got it backwards. You DCA in during a bear market and try to swing trade (probably not day trade, but swing trade) during a bull run.

[IMJ]

So I'm not into the whole meme coin thing, but it's looking like Saitama is going to be the legit balance between appealing to the meme coin buyer and the utility investor.

[IMJ]

Saitama is blowing up right now and lost a zero.

[IMJ]

BTC possibly at a new ATH tonight!

$68,126.52 as I write this..