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Bitcoin-Explain to me how to buy these things (2 Viewers)

ren hoek said:
Apparently Voyager isn't available to Indianans.  Oh well, thanks for the heads up anyway.  
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It should be. I got that message on states but I looked it up and it’s just NY. It activated my account and now I’ve got $100 in MANA, whatever the hell that is. 

 
MANA has been nice.  I think it still has more legs.  This is running on FB/Meta not just some random pump.  UFO/SAND going with it in sympathy but, again, have to figure out how to even buy those lol.

 
I threw some gambling money into $ASM because everyone calls it $ASSemble without the -emble so meme potential plus I like the general idea of it but have not really looked into it. Just gambling.

 
Captain Cranks said:
Speaking of making it right, did Kucoin ever track down your XLM, jb?
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To top off the epic mana run ( which I sold way too early) my XLM was returned.  
 

I finally had time to pour over everything and it did appear kucoin returned it the the right address, but it never showed up.

Apparently you have to have the sending address confirm the return as well.  Glad I asked Coinbase.  
 

Pay attention to the instructions kids!  

 
jb1020 said:
To top off the epic mana run ( which I sold way too early) my XLM was returned.  
 

I finally had time to pour over everything and it did appear kucoin returned it the the right address, but it never showed up.

Apparently you have to have the sending address confirm the return as well.  Glad I asked Coinbase.  
 

Pay attention to the instructions kids!  
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Nice.  Glad you tracked it down.

 
Shiba the only green in my list.  found some in coinbase.  selling and buying MANA @ 2.70

Still have some shib in the house account.

 
not sure if this can help us invest in crypto in retirement account???

Posted 4 minutes ago

https://www.youtube.com/watch?v=KcYlUMLHaJ8&ab_channel=CabanaCrypto

SO i was listening to this because im into HEX crypto.  They are speaking with Tobin Smith.

Fast forward to 33 min if you want to skip...  

He speaks about retirement accounts in crypto.

I think hes speaking about this.... https://www.bakkt.com/

streamed oct 29.  I think its this.

https://www.google.com/finance/quote/BKKT:NYSE

I know nothing about it yet, but worth looking into.

Current price

Bakkt Holdings Inc

$42.52

 
Capella said:
Got my free hundred. Thanks for posting bros. 
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Yeah, I did it on Saturday and have my free $100 BTC this morning. Hasn’t hurt that the MANA I bought went up $40, would have been nice to deposit a little more! I have $240 dollars burning a hole in my pocket now.

 
stbugs said:
Yeah, I did it on Saturday and have my free $100 BTC this morning. Hasn’t hurt that the MANA I bought went up $40, would have been nice to deposit a little more! I have $240 dollars burning a hole in my pocket now.
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Between this and dropping a few bucks into shiba last month I’ve pretty much come into a free money the last few weeks. I see why people get hooked. 

 
Capella said:
Between this and dropping a few bucks into shiba last month I’ve pretty much come into a free money the last few weeks. I see why people get hooked. 
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Yeah, what worries me on a macro level (hitting the stock market) is that people talk about billions of market cap as if it’s a given. If coin 1 is worth $10B then Voyager’s coin should be as well. That was directly from Twitter. If DOGE is $70B then Y should be worth $10B. At some point there is going to be a huge blood letting because it’s so bloated even if people say it’s in the early stages because there won’t be many winners and the winners might not even be around now.

 
Got my Cubanbux this morning as well.  Now off to find the most degenerate coin on Voyager to move that freeroll into.

 
stbugs said:
Yeah, what worries me on a macro level (hitting the stock market) is that people talk about billions of market cap as if it’s a given. If coin 1 is worth $10B then Voyager’s coin should be as well. That was directly from Twitter. If DOGE is $70B then Y should be worth $10B. At some point there is going to be a huge blood letting because it’s so bloated even if people say it’s in the early stages because there won’t be many winners and the winners might not even be around now.
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No doubt there will be a culling.  I know what my bets are on the big winners and they're already at or near the top, for the most part.

 
Sand said:
No doubt there will be a culling.  I know what my bets are on the big winners and they're already at or near the top, for the most part.
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i think this culling is going to be almost biblical. my bullish sentiments are gone. we're headed for a bubble bursting of epic proportions across markets. crypto was supposed to be driven by self banking, decentralized finance and the removal of middle men. it's been driving by dogs, games and jpeg joke art. it won't suffer a correction. more like a mushroom cloud.

asset protection should be priority one. knowing what and when to short this nonsense priority two.

 
Chaos Commish said:
i think this culling is going to be almost biblical. my bullish sentiments are gone. we're headed for a bubble bursting of epic proportions across markets. crypto was supposed to be driven by self banking, decentralized finance and the removal of middle men. it's been driving by dogs, games and jpeg joke art. it won't suffer a correction. more like a mushroom cloud.

asset protection should be priority one. knowing what and when to short this nonsense priority two.
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Yep. I tend to be a bit conservative even if my stocks are way more aggressive. I’m not a huge jump on a rocket type of guy when I realize there’s no fuel to get back and it’s just a matter if you jump off with enough air to get back.

There’s just something about seeing people talk about $10B valuations like they are nothing. I’m old enough to have been out of college working for an e-commerce company in the dot com bubble so I saw it happen. I went to company conferences of multi-billion dollar companies that were darlings and realized they were vapor ware. Analysts called the auto marketplace a $50B company and it never did ####. Search engines all over the place and the final winner (Google) went public years after the bubble popped.

Solana may be a cool setup but it’s worth $60B. Does it have any real moat or revenue? DOGE and SHIB are $80B combined and there doesn’t appear to be any utility.

I’ve always said that I think the tech is the big winner and truly never understood the coin values outside of a bit in BTC as digital gold. I always came back to the Visa/MC scenarios where the network is just making fees off of the transactions. The miners or stakers getting rewarded for their work made sense but that coin in the middle is just part of the transfer. I pay $1000 for a monkey with laser eyes and the artist gets $997, does it matter if the coin in the middle is worth $1 million or $0.53? The transfer just takes a fraction of one or a couple thousand.

I’ve got my popcorn out but I am getting a bit more tentative to buy more stocks and am thinking about trimming stuff I’m not in love with for the future. I’m like you, just feel like there’s a big pop coming and it will spread to stocks. We have heard about stretched valuations for a while and if the supply chain woes get worse while crypto teeters, it could be a bit uglier than most think. I’m not all cash apocalypse worry but  my spider sense is tingling.

 
Biden Administration Targets Stablecoin Digital Currency for Banklike Oversight

WASHINGTON—The Biden administration on Monday took the first significant step to impose banklike oversight on the cryptocurrency companies involved in the issuance of stablecoins, outlining a process that could shape the future of that digital money.

A Treasury-led panel recommended that Congress impose a new regulatory framework around stablecoins—digital currencies pegged to national currencies like the U.S. dollar—and limit the issuance of such digital assets to banks. The legislative request is a tall order given both chambers of Congress are narrowly divided.

In the absence of congressional action, the panel recommended that a broader group of regulators charged with detecting risks to the financial system—the Financial Stability Oversight Council—consider whether to designate certain stablecoin activities as systemically important. Such a process could ultimately lead to the Federal Reserve writing more-stringent risk-management standards for stablecoin companies.

“The rapid growth of stablecoins increases the urgency of this work,” the regulators said in Monday’s report, issued by the President’s Working Group on Financial Markets, which includes the heads of several regulatory agencies. “Failure to act risks growth of payment stablecoins without adequate protection for users, the financial system and the broader economy.”

 
stbugs said:
Yep. I tend to be a bit conservative even if my stocks are way more aggressive. I’m not a huge jump on a rocket type of guy when I realize there’s no fuel to get back and it’s just a matter if you jump off with enough air to get back.

There’s just something about seeing people talk about $10B valuations like they are nothing. I’m old enough to have been out of college working for an e-commerce company in the dot com bubble so I saw it happen. I went to company conferences of multi-billion dollar companies that were darlings and realized they were vapor ware. Analysts called the auto marketplace a $50B company and it never did ####. Search engines all over the place and the final winner (Google) went public years after the bubble popped.

Solana may be a cool setup but it’s worth $60B. Does it have any real moat or revenue? DOGE and SHIB are $80B combined and there doesn’t appear to be any utility.

I’ve always said that I think the tech is the big winner and truly never understood the coin values outside of a bit in BTC as digital gold. I always came back to the Visa/MC scenarios where the network is just making fees off of the transactions. The miners or stakers getting rewarded for their work made sense but that coin in the middle is just part of the transfer. I pay $1000 for a monkey with laser eyes and the artist gets $997, does it matter if the coin in the middle is worth $1 million or $0.53? The transfer just takes a fraction of one or a couple thousand.

I’ve got my popcorn out but I am getting a bit more tentative to buy more stocks and am thinking about trimming stuff I’m not in love with for the future. I’m like you, just feel like there’s a big pop coming and it will spread to stocks. We have heard about stretched valuations for a while and if the supply chain woes get worse while crypto teeters, it could be a bit uglier than most think. I’m not all cash apocalypse worry but  my spider sense is tingling.
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I agree with a lot of this but the one thing I'll mention is I think you're looking at coin "market caps" fundamentally the wrong way.  A "market cap" isn't the same for a currency as it is a stock.  It's mostly meaningless but its only even partial utility is comparing coins against each other.

Cardano having a $66 billion market cap is not in any way the same as a public company having a $66 billion valuation.  That's like comparing Tyreek Hill and Mark Cuban's ability in their respective fields by comparing their 40 yard dash times against each other.

The "market cap" of the Canadian dollar, for instance, is $2.5 QUADRILLION.

 
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FreeBaGeL said:
I agree with a lot of this but the one thing I'll mention is I think you're looking at coin "market caps" fundamentally the wrong way.  A "market cap" isn't the same for a currency as it is a stock.  It's mostly meaningless but its only even partial utility is comparing coins against each other.

Cardano having a $66 billion market cap is not in any way the same as a public company having a $66 billion valuation.  That's like comparing Tyreek Hill and Mark Cuban's ability in their respective fields by comparing their 40 yard dash times against each other.

The "market cap" of the Canadian dollar, for instance, is $2.5 QUADRILLION.
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I have to disagree with you here. Cryptocurrencies right now are absolutely investments just like shares of stock. People are buying Cardano hoping that the market cap and this coin price go up. Nobody is “investing” in CAD or USD.

 
stbugs said:
I have to disagree with you here. Cryptocurrencies right now are absolutely investments just like shares of stock. People are buying Cardano hoping that the market cap and this coin price go up. Nobody is “investing” in CAD or USD.
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My point is you can't compare the value of a company to the value of a currency.

You can say "SHIB is bigger than Cardano which is dumb" the same way you can say "AMC is bigger than Delta which is dumb".

But what makes zero sense is saying Cardano is bigger than Delta, or whatever.  Totally different measurements.  You have equity market caps stuck in your head, "xxxx is a worth more than a billion dollars that's insane".  Most currencies have a "market cap" over a billion dollars.  The LSL (Lesolo Ioti) has a "market cap" over a billion dollars.

There are only 6 fiat currencies in existence with a "market cap" less than a billion dollars.

 
FreeBaGeL said:
My point is you can't compare the value of a company to the value of a currency.

You can say "SHIB is bigger than Cardano which is dumb" the same way you can say "AMC is bigger than Delta which is dumb".

But what makes zero sense is saying Cardano is bigger than Delta, or whatever.  Totally different measurements.  You have equity market caps stuck in your head, "xxxx is a worth more than a billion dollars that's insane".  Most currencies have a "market cap" over a billion dollars.  The LSL (Lesolo Ioti) has a "market cap" over a billion dollars.

There are only 6 fiat currencies in existence with a "market cap" less than a billion dollars.
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I could create a cryptocurrency tomorrow. Does that mean it should be worth more than $1B because fiat currencies are.

How many hundreds or thousands of these coins are there and what’s the end game? I can’t create a new USD because I don’t have a country/government established.

There is the ideal world of what a cryptocurrency should be and I'd almost model it after say Visa. At the end of the day, there are fees for transactions on Ethereum network, right? Those gas fees. Well, if that’s the case, there is actual ownership/revenue like Visa. Isn’t that the point, people are buying into something where their stake gives them an ROI?

Tons to argue semantics but I still see Cardano as an investment people are making, not in the same ballpark as CAD/USD but as an alternate to buying a stock and hoping both go up.

 
stbugs said:
There is the ideal world of what a cryptocurrency should be and I'd almost model it after say Visa. At the end of the day, there are fees for transactions on Ethereum network, right? Those gas fees. Well, if that’s the case, there is actual ownership/revenue like Visa. Isn’t that the point, people are buying into something where their stake gives them an ROI?

Tons to argue semantics but I still see Cardano as an investment people are making, not in the same ballpark as CAD/USD but as an alternate to buying a stock and hoping both go up.
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I can agree with the Visa comparison.  You look at fees, utilization, velocity of the coin, etc.  

In the case of Cardano what one would hope is that it catches on and sees high utilization.  ADA is aiming itself particularly at the third world, so one would hope it sees utilization there.  On a holistic note I hope they are successful.  We've seen Venezuela turn to a gold exchange country overnight due to monetary collapse. 

 
stbugs said:
I could create a cryptocurrency tomorrow. Does that mean it should be worth more than $1B because fiat currencies are.

How many hundreds or thousands of these coins are there and what’s the end game? I can’t create a new USD because I don’t have a country/government established.

There is the ideal world of what a cryptocurrency should be and I'd almost model it after say Visa. At the end of the day, there are fees for transactions on Ethereum network, right? Those gas fees. Well, if that’s the case, there is actual ownership/revenue like Visa. Isn’t that the point, people are buying into something where their stake gives them an ROI?

Tons to argue semantics but I still see Cardano as an investment people are making, not in the same ballpark as CAD/USD but as an alternate to buying a stock and hoping both go up.
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Of course people are speculating with crypto the same way they do with stocks.  That doesn't mean you can use the same measurements of what makes a stock "large" to determine how large a cryptocurrency is.

That's my point.  You have these numbers stuck in your head as to what makes a company's value and you're trying to use that to determine how valued a currency is.  For instance, you said...

"Solana may be a cool setup but it’s worth $60B. Does it have any real moat or revenue?"

First of all, currencies aren't valued on their revenue, that is just silly.  But more importantly, what made you decide that $60B is a lot?  You decided $60B is a lot because it would be a lot if it were a stock.  But the measurements are totally different here.

At $60B, Solana is roughly 0.0000166666% the size of the largest currency.  That's slightly more than Hertz was valued relative to the largest equity when Hertz was in the middle of bankruptcy filings with what seemed like no path to continue existing.

Nikola is a higher valued stock than Solana is a currency.

So is possibly the most efficient and functional cryptocurrency that has the second largest actual use market behind Ethereum "overvalued" at being worth roughly the equity equivalent of a company like Nikola or mid-bankruptcy Hertz?

You also mentioned "if I made some random coin should it be valued at $1 billion".  Well, no.  But it wouldn't be.  Of the tens of thousands of coins in existence only 110 are with $1 billion.  But again the question is, is $1 billion a lot?  In your mind, because you're used to dealing with equities, it is a lot.  But relative to other currencies it is 0.00000027% the size of the largest currency.  In the equities market there are some really ####ty companies that are 0.00000027% the size of the largest equity.

That's my only point here.  Yes people are speculating.  But a lot of these currencies aren't "valued" as high as you're implying, because you're trying to use celsius to measure inches.

 
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FreeBaGeL said:
Of course people are speculating with crypto the same way they do with stocks.  That doesn't mean you can use the same measurements of what makes a stock "large" to determine how large a cryptocurrency is.

That's my point.  You have these numbers stuck in your head as to what makes a company's value and you're trying to use that to determine how valued a currency is.  For instance, you said...

"Solana may be a cool setup but it’s worth $60B. Does it have any real moat or revenue?"

First of all, currencies aren't valued on their revenue, that is just silly.  But more importantly, what made you decide that $60B is a lot?  You decided $60B is a lot because it would be a lot if it were a stock.  But the measurements are totally different here.

At $60B, Solana is roughly 0.0000166666% the size of the largest currency.  That's slightly more than Hertz was valued relative to the largest equity when Hertz was in the middle of bankruptcy filings with what seemed like no path to continue existing.

You also mentioned "if I made some random coin should it be valued at $1 billion".  Well, no.  But it wouldn't be.  Of the tens of thousands of coins in existence only 110 are with $1 billion.  But again the question is, is $1 billion a lot?  In your mind, because you're used to dealing with equities, it is a lot.  But relative to other currencies it is 0.00000027% the size of the largest currency.  In the equities market there are some really ####ty companies that are 0.00000027% the size of the largest equity.

That's my only point here.  Yes people are speculating.  A lot of these currencies aren't "valued" as high as you're implying, because you're trying to use celsius to measure inches.
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Perfectly said. Like comparing apples to a Ford truck.  

 
I’ve always felt like tether was a huge liability for crypto markets.  They’ve been accused of fraud already and anyone that’s been paying attention can tell their operations are murky at best.  I haven’t been buying for a while, even with inflation driving up asset prices it does seem like every market is levered up to the hilt.  It’s been a good run for the past year or so, the bitcoin halving came and went, I’m struggling to see a big run up towards the end of the year.  But I’m almost always wrong about this stuff so King ####coin will probably run up to $100k.  🤷‍♂️
 

This index from Colin Talks Crypto is really interesting however and suggests we haven’t seen the peak of this run yet:

https://cbbi.info

 
stbugs said:
I have to disagree with you here. Cryptocurrencies right now are absolutely investments just like shares of stock. People are buying Cardano hoping that the market cap and this coin price go up. Nobody is “investing” in CAD or USD.
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Is there a ton of speculation in the crypto markets?  Absolutely.  Is there a ton of speculation in the equity and commodity markets?  Yup.  Guess which one has less leverage and systemic risk on our financial system.  If the crypto markets collapse 80% tomorrow, a bunch of people get margined out, the game resets, and we move on.  

 
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