[Finance] The cryptocurrency (Bitcoin etc) thread

[beorhthelm]

Anyone use Coinbase to trade on?

use Coinbase Pro (though do all the Coinbase learn to earn quizs). its a bit quirky but lower fees than Coinbase and less going on than Binance.

 

[Marshy]

nice in theory but evidence ive seen watching for the last 6 months before now taking the plunge is that BTC and ETH moves drive the whole market. i have yet to see any SIGNIFICANT player go high when BTC/ETH are falling.

veryt true, but those days are coming to an end, maybe sooner than people think, And i would not want to be holding them when that happens

 

[Marshy]

worse case scenario for XRP case is it is considered a security. thats not a terrible outcome in itself, becomes regulated like stocks, bonds etc. but in crypto world it would be shunned because people dont like regulation ideologically and most the exchanges dont want the hassle of dealing with regulated securities.

there would be a reaction dump, but unlikely to widely impact market because tokens usually dont have the same centralised, corporate control Ripple has over XRP. it may set a precedence that some tokens do fall under.

No. Regulation will drive this market... when there are some clear guidlines the real institutional money will then pile in. Then you will get the real coins/tokens thriving because utility will matter.

 

[beorhthelm]

veryt true, but those days are coming to an end, maybe sooner than people think, And i would not want to be holding them when that happens

interested in your thesis how and why market will decouple from BTC. it will be healthy when it does.

on regulation i foresee it happening just not yet and it will probably be narrow (to apply globally). any significant regulation could kill off even good projects because they simply arent setup for it, they're dev/marketing driven without the expertise or desire to be regulated. many could drop the token and provide the app without, or use a standard token.

 

[Marshy]

interested in your thesis how and why market will decouple from BTC. it will be healthy when it does.

on regulation i foresee it happening just not yet and it will probably be narrow (to apply globally). any significant regulation could kill off even good projects because they simply arent setup for it, they're dev/marketing driven without the expertise or desire to be regulated. many could drop the token and provide the app without, or use a standard token.

The media narrative is already changing as we have seen over the last month or so.... Bitcoin energy use etc, old tech, no real use case... the same for Eth... lets hope 2.0 is better but the gas fees are insane, i see Cardano, Flare etc eating up ETH in the not so distant future.
They do everything ETH does at a fraction of the cost

However big people think Crypto will become i say times it by 1000, the banks and financial institutions are positioning now, nothing will happen until they have sorted themselves first.

Everything and i mean everything will run on blockchains and be tokenised. The stock market, housing market all derivatives. Everything.

Anyone in Crypto now is way way ahead of the game. Its still early.

 

[Djmiles]

I'd call it a bear market.

Seeing a chart go down doesn’t mean it’s a bear market.

 

[knocky1]

Seeing a chart go down doesn’t mean it’s a bear market.

Does when 33% over a month.

 

[Lower West Stander]

Does when 33% over a month.

Way too short a timeframe.

Not disagreeing with the sentiment btw.

 

[wealdgull]

The media narrative is already changing as we have seen over the last month or so.... Bitcoin energy use etc, old tech, no real use case... the same for Eth... lets hope 2.0 is better but the gas fees are insane, i see Cardano, Flare etc eating up ETH in the not so distant future.
They do everything ETH does at a fraction of the cost

I would disagree with this categorisation of Ethereum. Cardano doesn't even have smart contracts yet, and Flare is basically an overlay for Ripple, which is not even a cryptocurrency.

If people want to chase big multiples then watch out for new defi projects. If they want the potential of solid gains with some level of long-term assuredness then the network effects of Bitcoin and Ethereum, along with their underlying tech, are decent bets. Hoping for chains that have yet to experience any kind of realistic state growth to leap because they have "solved" one of the myriad problems of blockchain scalability without considering the impact on others is likely to end in tears.

 

[Marshy]

Does when 33% over a month.

it really does not.

We have just been through a 3 year bear market.

You will soon see what a real Bull run is if you have not been through it before. Get ready.

 

[Lower West Stander]

The media narrative is already changing as we have seen over the last month or so.... Bitcoin energy use etc, old tech, no real use case... the same for Eth... lets hope 2.0 is better but the gas fees are insane, i see Cardano, Flare etc eating up ETH in the not so distant future.
They do everything ETH does at a fraction of the cost

However big people think Crypto will become i say times it by 1000, the banks and financial institutions are positioning now, nothing will happen until they have sorted themselves first.

Everything and i mean everything will run on blockchains and be tokenised. The stock market, housing market all derivatives. Everything.

Anyone in Crypto now is way way ahead of the game. Its still early.

I think you've got a very long way to go with that view...

Are you Cathie Wood?

 

[Marshy]

I think you've got a very long way to go with that view...

Are you Cathie Wood?

haha. i realise it will take time but it will happen. When things move they will move quicker than you think. The benefits will be huge.

 

[Djmiles]

Does when 33% over a month.

No. Just, no.

Come back in in a couple of months if it’s still down, until then, in no way shape or form is this a bear market, yet.

 

[giveusfalmerplease]

BTC just broke 40k again over 1k up this morning. I had created can order at 39k but after earlier dropping below 37 I cancelled it

 

[Marshy]

BTC just broke 40k again over 1k up this morning. I had created can order at 39k but after earlier dropping below 37 I cancelled it

I personally think Bitcoin will hit 70-75k this year. Just an educated guess though, we will see. It might be higher. There is a lot going on in crypto at the moment.

 

[giveusfalmerplease]

On a side note for investors out there I've taken a small punt on a few airlines working on the basis they all crashed due to covid but as holiday season is on us and people are beginning to travel again then airlines should see considerable growth?

 

[DJ NOBO]

I personally think Bitcoin will hit 70-75k this year. Just an educated guess though, we will see. It might be higher. There is a lot going on in crypto at the moment.

What percentage of your available wealth have you got invested in crypto ?

 

[Marshy]

My tip going forward is Global ID.

As soon as i can buy into that in someway im getting it. I havent checked in a while actually will look later tonight when home.

 

[Tyrone Biggums]

My tip going forward is Global ID.

As soon as i can buy into that in someway im getting it. I havent checked in a while actually will look later tonight when home.

Cardano will be leading the way with IDs. That's a big part of their Africa push.

 

[beorhthelm]

However big people think Crypto will become i say times it by 1000, the banks and financial institutions are positioning now, nothing will happen until they have sorted themselves first.

Everything and i mean everything will run on blockchains and be tokenised. The stock market, housing market all derivatives. Everything.

agree but also reluctant to look too far ahead on world changing projects, the institutions can roll their own applications so many bright hopes will never be used.

whats really interesting on that front is you cant really buy up a token like you can a company, to absorb the IP.