[Finance] The cryptocurrency (Bitcoin etc) thread

[pb21]

Does seem to be quite a few encouraging signs in the crypto market, but at the same time the macro situation isn't exactly great.

I see some on chain data showing bullish signals, some TA too, although some TA very bearish.

I'll continue with small regular DCAs though...

 

[CheeseRolls]

NSC automated translation service says...

Does seem to be quite a few encouraging signs in the crypto market, but at the same time the macro situation isn't exactly great.
Some people on social media starting to get quiet animated again. No idea why the world is going to sh1t!
I see some on chain data showing bullish signals, some TA too, although some TA very bearish.
Starting to see lots of those wavy charts where someone draws in a line at the end shooting upwards almost vertically
I'll continue with small regular DCAs though...
I am going to be making small but regular punts for the time being

 

[Tyrone Biggums]

I was continually topping up my RUNE when it was down in the 3.50 range and it's already back in the $8 range.

DCA is the way to build your long term holds.

Was also topping up on Arweave and KSM.

 

[Dick Swiveller]

I've diversified from Hoppo to Smurph but the macro on the Algie worries me so I might divest into POTS

 

[MJsGhost]

With ETH up nearly 8% in 24hrs and my whole portfolio up 20% in a week, are we going to see a sustained pump?

My prediction is for some very nice gains for the HODLers in the coming weeks.

 

[giveusfalmerplease]

i sold all last month when the war broke out and not only missed the initial drop in prices but missed the bounceback!. got back in paying more than i sold for but thankfully prices have kept going. trouble is after being slaughtered last year trading during the downswings , even if every coin i own hits an ATH i will still be down loads..but ..hey lets take the positives for now.

 

[sydney]

With ETH up nearly 8% in 24hrs and my whole portfolio up 20% in a week, are we going to see a sustained pump?

My prediction is for some very nice gains for the HODLers in the coming weeks.

up and down like a whores draws.

 

[Da Man Clay]

i sold all last month when the war broke out and not only missed the initial drop in prices but missed the bounceback!. got back in paying more than i sold for but thankfully prices have kept going. trouble is after being slaughtered last year trading during the downswings , even if every coin i own hits an ATH i will still be down loads..but ..hey lets take the positives for now.

I think every time I read this thread you’ve panic sold and bought back in at a higher price. Hope you get some luck with this soon!

 

[RandyWanger]

Does anyone have a BRD wallet? Check it soon.

I had a few BTC stashed away in one and rarely check it as it is not my main wallet but was greeted with a message saying it was shut down as of 21st March! Oops. They have joined coinbase, luckily I was able to transfer my BTC into that wallet without any fees but if you have a BRD, make sure you take out your coins.

Got a free NFT from coinbase for joining up and some ETH for making a small deposit too.

 

[beorhthelm]

https://twitter.com/hmtreasury/status/1510971092072079360

is this what adoption looks like?

NFT's will take crypto mainstream.

 

[CheeseRolls]

https://twitter.com/hmtreasury/status/1510971092072079360

is this what adoption looks like?

NFT's will take crypto mainstream.

This looks quiet interesting. I like the idea of a crypto friendly economy, but I am very wary around the acceptance of stable currencies and the likely taxation implications around staking and transfers. Establishing the legal status of DAOs should keep the legal folk busy for a few years as well.
I don't mind paying my share of tax, I just don't want to operate something overly restrictive and complex. It will be interesting to watch how they market and sell the NFTs. It might turn into a landmark event, not much different from coins and first day cover stamps. I doubt that I will part with any cash though.

 

[McTavish]

https://twitter.com/hmtreasury/status/1510971092072079360

is this what adoption looks like?

NFT's will take crypto mainstream.

By crypto do you mean cryptocurrencies? May be a silly question but why do NFTs need cryptocurrencies? Couldn't you just buy them with ordinary currencies?

 

[beorhthelm]

By crypto do you mean cryptocurrencies? May be a silly question but why do NFTs need cryptocurrencies? Couldn't you just buy them with ordinary currencies?

they are an implementation of a standard within cryptocurrencies, a verified unique reference on a blockchain.

we do have an analogue version, any signed art or contract, can be bought with regular currency. and thats their importance, replacing contracts, proofs of ownership, authentication, with a trustless crypto version. could lead to complete overhaul of stock, bond, asset ownership eventually, with tokenised ownership. crappy pixel art used as profile pictures is just a testing ground. music, video, game assets will be next and make crypto gain wide acceptance and usage.

 

[McTavish]

they are an implementation of a standard within cryptocurrencies, a verified unique reference on a blockchain.

we do have an analogue version, any signed art or contract, can be bought with regular currency. and thats their importance, replacing contracts, proofs of ownership, authentication, with a trustless crypto version. could lead to complete overhaul of stock, bond, asset ownership eventually, with tokenised ownership. crappy pixel art used as profile pictures is just a testing ground.

I get the authentication thing, but can't you use blockchain verification without having to use cryptocurrencies to buy and sell?

 

[CheeseRolls]

By crypto do you mean cryptocurrencies? May be a silly question but why do NFTs need cryptocurrencies? Couldn't you just buy them with ordinary currencies?

Not a silly question at all quite the opposite. If this was a first day cover they would post it to you, you could stick it in a box and dig out out occasionally to look at. You own a collectible. The long running joke about taking a screen grab of an NFT, is a bit like the difference between an original piece of artwork, a limited edition print, a professional photo and a picture taken on your smartphone. Paying by cryptocurrency, even if you are not aware of this is what you are doing records the ownership on the blockchain and this is linked to your wallet or to someone holding this on your behalf.

I see beorthelm has replied whilst I was typing.

NFTs are much maligned and I think the collectibles market in particular deserves plenty of abuse. It is a shame as they will be brilliant for so many mundane transactions, once there is volume/acceptance and understanding. Concert tickets and football season tickets, will make great use cases, but you need to use a blend of crypto related services working together to make this happen. It will come in time.

 

[beorhthelm]

I get the authentication thing, but can't you use blockchain verification without having to use cryptocurrencies to buy and sell?

sure you could, through some intermediary service, likely will be during the adoption phase. however since you need a crypto address to hold the asset, you'd be better off using the currency of that crypto to make the purchase. unless its ETH with the fees there.

cypto = blockchain. the currency concept is important for BTC and a few key others, elsewhere doesnt have such an explicit link.

actually the most import thing that will emerge from this Royal Mint NFT is what chain they'll use. will they go with the current standard but expensive Ethereum, one of the many other Layer 1 alternatives, or bake their own. will it spur some cross-chain sharing or a new approach? could be genuinely innovative (one can hope).

 

[CheeseRolls]

Last week's peak was around 60% in profit for me. This has largely evaporated and I wouldn't be surprised to go back into the red in the coming weeks, followed by a very strong rally, I hope.

 

[matt]

I get the authentication thing, but can't you use blockchain verification without having to use cryptocurrencies to buy and sell?

Yes, you can on some blockchains. For example, NBA Top Shot is on the Flow blockchain, and through your account (a Dapper wallet) you can buy and sell NFTs using USD, and you can withdraw your funds straight to a bank account. Cryptocurrency is not involved in the process.

 

[Bozza]

For those interested in this world even if, like me, you're not involved but happy to read a few things, the Milk Road daily newsletter is a great little round-up.

Subscribe here: The Milk Road

 

[Goldstone1976]

I got taken round a bitcoin mining container yesterday. 12 racks each containing 18 servers produces 0.2 bitcoin/day; 3-4 months to break even for the cost of the container kitted out (if today’s exchange rate remained the same).