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Bitcoin-Explain to me how to buy these things (2 Viewers)
- Thread starter Sheriff Bart
- Start date
TheDirtyWord
Footballguy
This wouldn’t be a bad time to put some money in MARA or RIOT. Have to think the China mining ban is a good development for them.Captain Cranks said:
beer 30
Footballguy
Chaos Commish
Footballguy
Yup, was hoping for another dip, but started moving out of stables yesterday morning. Not adding more ADA. Diversified into a couple small caps, couple mid caps, few big caps.... and my FEG is in profit. Good luck everybody... to the moon, please.beer 30 said:Was just coming here to say I'm calling my shot, we'll see BTC above $40k in July
probably get that dip rebounding down off of 40
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Insoxicated
Chaos Commish
Footballguy
Also, i love playing with the Cake ecosystem. It's eclectic and memey and wild, but there's money to be made. I staked GUH (Goes Up Higher) yesterday because it's made the win side of this page 8 times this month. It's also been on the wrong side three times. Very volatile, but going up higher for the most part during this bearish event. My stake is up 93% in 27 hrs as I post this. Was over 100% for a bit.
How the founders explained it to CoinMarketCap:
How the founders explained it to CoinMarketCap:
lots of comments below their twitter posts call it a scam and say tokens are disappearing from their trustwallets. I didn't risk much and am tempted to sell already, but all good for me atm.
Chaos Commish
Footballguy
I think it will perform as well as BTC. For most of this year I've believed a long list of alts would outperform both, but listening to an influencer describe btc scarcity yesterday caused me to go back into bitcoin after thinking i was done with it. That vid includes a helluva story about a Romanian bitcoin billionaire who drowned in Costa Rica two days ago. Apparently nobody has access to his recover key and 125,000 btc has been lost. Whoa, just... dammmm.
beer 30
Footballguy
I saw the headline about lost Bitcoin but didn't read it. Damn crying shame that.
Captain Cranks
Footballguy
Short term bullish.
Medium term I'm undecided. A ton of overhead resistance to fight through.
Long term bullish.
Medium term I'm undecided. A ton of overhead resistance to fight through.
Long term bullish.
beer 30
Footballguy
Captain Cranks
Footballguy
Chaos Commish
Footballguy
120% in two days. I'm out. haha. Cool sxxx coin, I think. Lots of twitters call it a scam but a couple mil in daily volume and assurances it had been vetted by trustwallet, wth. I had fun. It will moon now that I sold it. The purchase took five minutes, the sell two hours. I was getting worried, but it went up while I waited for the transaction to complete. That's a first.
Chaos Commish
Footballguy
grrr, i'm a coward. it's doubled again. up 245% from my entry point. tsk tsk. i suck.
Chaos Commish
Footballguy
sigh, now up 400% from my buy... over 200% since I sold. it was tenth in top gainers yesterday (outta 10k+ coins and tokens). It's 5th atm today. Look at this spike. I bought the dip at 659. Two days later it goes over 2600. Looks like the pumpers started dumping. Oh to be privy to inside info. Meh.
KGB
Footballguy
In!Depends on who you askADA (Cardano) seems to be a popular choice. I got in on a bit of that last week when there was a dip.
Thanks. $2K ADA @ $1.36
100K or nothing!
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Capella
Footballguy
Yea part of me wonders when I’ll just cash out of this and be done with it. I don’t have the tolerance for these insane swings and honestly I don’t know what it’s long-term value is.
ConstruxBoy
Kate's Daddy
Need Diamond HandsCapella said:
Capella
Footballguy
amnesiac
beer is good
Chaos Commish
Footballguy
[icon] said:
Hang in there guys. If nothing else move everything into btc, hodl and forget about it. I don't think there's been a more positive news cycle than the last few days/weeks/month going back to El Salvador's announcement. Even the China mining ban is a big plus.Capella said:
Hodling and stepping away for a couple weeks or longer is probably smart if your tolerance for volatility is low. I'm a volatility junkie. I have a wealthy family member I begged to get involved. She talked to her guy at Goldman (this was awhile ago - btc 5k) and was told they didn't deal with it, didn't advise, could only send a simple package (3 pages) explaining their positing with advice to consider Greyscale. It was a joke of a package - FROM GOLDMAN (and they on it now). But when Paypal made it too easy, she maxed what they allow mostly to shut me up. Now she's using Coinbase and added substantially more. I tuned out for a week while visiting her. She never mentions it. Doesn't look at it for days on end. Doesn't deliberately seek crypto news. Just hodling and seeing what happens in five/ten years. That's a great attitude if the insane swings irk you.
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Captain Cranks
Footballguy
Retail gonna retail.
Captain Cranks
Footballguy
Captain Cranks
Footballguy
Capella
Footballguy
My main concern is I don’t like how Elon musk can tweet out a fart and it goes down 40%. That’s not a serious investment to me, but I guess compared to other investments I have I don’t have a serious amount of money in it either.
Chaos Commish
Footballguy
he can't. his influence is minor compared to how it's portrayed. he's timed his negative btc tweets with max pain expiry dates. when he hasn't those dates have caused dips without him. his last attempt, very recently, again timed with an expiry, got no play in the media and had no impact on the market. it's semi-fake news and what's true is fading anyway.
fwiw, he made a joke: "how many bitcoin maxis does it take to screw in a lightbulb?" then he let his followers complete the joke. but his followers attacked him about 90-10% compared to those who played along. he also owns a massive position in bitcoin and it's the only profit tesla is showing. he needs btc to be strong. he just can't help himself on some topics (like maxis, cuz he is getting a great education on the potential of alts). it's a non issue.
TheDirtyWord
Footballguy
I made this comment a few months ago...perhaps even in this thread, but crypto is very immature. But the potential is off the charts. Much like a gifted child.
Was the Elon tweet the first domino to fall? Yes. Did his tweet alone make the price go down 40%. No. But there is no doubt that sentiment in this space is fragile. And right now, sentiment in crypto...BTC most specifically, is ice cold. And institutional money has been slower to arrive than most thought, although for them, it’s not just a matter of opening an account so to speak. And with the COVID narratives of 2020 in the rear view...a lot of investors have rotated off crypto for the time being. The number of active addresses for BTC is at its lowest since the pandemic began. But at some point, it’ll rotate back into the picture as it’ll be too good a trade to ignore. @Chaos Commishis correct about the China news though...might be the best long term development for BTC.
With that said, the maximalism is a turn-off for me. The Miami Bitcoin Conference felt like a bulked up Libertarian convention (from afar, I didn’t attend). While I’m still very bullish on the space, the all or nothing rhetoric that many ‘OG’ BTC personalities bring to the table not only feels misplaced, but also severely out of touch. Despite some very questionable (to put it mildly) protocols, there is a lot of bleeding edge work being done, yet a prominent part of this community takes a 3 Wise Monkeys approach to it. I don’t think that’s good for the brand of crypto at this stage. It may have been necessary 4-5 years ago...not now.
This is probably a long way of saying, I understand your apprehension, particularly after a 50%+ draw down.
Captain Cranks
Footballguy
I can tell you with near certainty that blockchain technology is going to change the world as much, or greater, than the internet. What I can't tell you with any certainty is which technologies/blockchains will dominate the new financial system. So many things can happen over the next several years to steer us towards that answer that it's a bit like watching a Plinko chip zig-zag down the board. As DW suggested, to anoint BTC as the definitive winner is a bit misguided and outdated. Yes, it's the godfather of crypto and has the greatest level of adoption, but who's to say that doesn't change due to a change in sentiment (Musk tweet) or adoption of a better technology. I feel the same way about ETH. Sure it's the smart contract leader RIGHT NOW, but its technology is inferior to others and as those platforms hit the ground running, who's to say we don't see a mass exodus from the king.
So what do you do with all this uncertainty and volatility? Well, you can head back to equities whose performance barely keeps up with money supply expansion. For me, I'd rather dive in and learn all I can about blockchain with the hopes that I invest in the Googles and Facebooks and Amazons of the space. Just like a VC, I don't expect to hit on Amazon with one or two shots. I'll need to place bets over many coins and expect to lose on most of them.
So far it has been a fun, exciting ride and it feels good to know I'm still early to this game. As the video I posted above states, we should be wanting crypto prices to fall for the next couple of years. Think of how much money people made by dollar cost averaging from 2018 -2020. You easily could have turned 4-5 figure investments into 7 figures. If you have true conviction about the long term opportunity in this industry like I do, you'll want prices to be lower, not higher. When you find a car or a house you want to buy, you don't wish for the price to go up before you buy more. This should be no different.
So what do you do with all this uncertainty and volatility? Well, you can head back to equities whose performance barely keeps up with money supply expansion. For me, I'd rather dive in and learn all I can about blockchain with the hopes that I invest in the Googles and Facebooks and Amazons of the space. Just like a VC, I don't expect to hit on Amazon with one or two shots. I'll need to place bets over many coins and expect to lose on most of them.
So far it has been a fun, exciting ride and it feels good to know I'm still early to this game. As the video I posted above states, we should be wanting crypto prices to fall for the next couple of years. Think of how much money people made by dollar cost averaging from 2018 -2020. You easily could have turned 4-5 figure investments into 7 figures. If you have true conviction about the long term opportunity in this industry like I do, you'll want prices to be lower, not higher. When you find a car or a house you want to buy, you don't wish for the price to go up before you buy more. This should be no different.
Chaos Commish
Footballguy
In addition to Musk not moving the market with his bitcoin joke, two attempts to pump doge failed and a big pro babydoge tweet had very minor impact.
Elon Musk's latest attempt to pump Dogecoin fails miserably
Quick review of the primary event in this story. He bought 150 million btc and announced Tesla would take btc in payment. Big news, nothing like his lil tweet thing. Market pumped impressively. Then he decided Tesla would not accept btc because of environmental concerns. Market went down hard for that and other reasons. This wasn't all due to Elon. Then he announced if btc mining could reach 50% renewable/sustainable power sourcing, Tesla would then accept btc payments.
Bitcoin Mining Council survey estimates a 56% sustainable power mix in Q2
This survey may have cherry picked it's sample and as the article states it may not move Elon, but almost ever company relocating out of China is seeking solar, hydro, and other clean energy sources. That 56% will be a higher number and not cherry picked when 50/60% of the world's mining power is back up and running and no longer in China.
So it's reasonable to assume Elon will keep his word and accept btc for Teslas. Just don't be disappointed when it doesn't pump the market like last time. It's not that big of a deal, never was.
Elon Musk's latest attempt to pump Dogecoin fails miserably
Quick review of the primary event in this story. He bought 150 million btc and announced Tesla would take btc in payment. Big news, nothing like his lil tweet thing. Market pumped impressively. Then he decided Tesla would not accept btc because of environmental concerns. Market went down hard for that and other reasons. This wasn't all due to Elon. Then he announced if btc mining could reach 50% renewable/sustainable power sourcing, Tesla would then accept btc payments.
Bitcoin Mining Council survey estimates a 56% sustainable power mix in Q2
This survey may have cherry picked it's sample and as the article states it may not move Elon, but almost ever company relocating out of China is seeking solar, hydro, and other clean energy sources. That 56% will be a higher number and not cherry picked when 50/60% of the world's mining power is back up and running and no longer in China.
So it's reasonable to assume Elon will keep his word and accept btc for Teslas. Just don't be disappointed when it doesn't pump the market like last time. It's not that big of a deal, never was.
KGB
Footballguy
Took your advice and sold my RIOT at BTC 34 or so....
SOLID.
I wish I waited 2 more hours as it made a huge run, but I also missed it going back down. Im happy.
KGB
Footballguy
ETH up big from this post...Yesterday I saw a new coin that Coinbase just picked up, CHILIZ. Its an Ethereum token that lets users trade tokens to show their support for professional sports teams. I don’t know what any of that men’s or how it works but I bought some cause, sports. I got in at $0.24, currently trading at $0.23
Ethereum is a good buy right now too at $1,765. I got in around $1,866 so my strategy of buy high, sell low is coming along swimmingly.
I may hop into CHILIZ tomorrow as some coins im looking for a home run. thanks.
Chaos Commish
Footballguy
I don't use Coinbase, but XRP/Ripple, if ranked by market cap, should be 7th not 3rd. I've owned it before and sold at profit when the ongoing LAWSUIT was but a rumor.
7 important bullet points about XRP (good quick three minute read if a little sloppy from motleyfool)
My comments on some of those points:
Points 1-4 sound fantastic, but it is not without significant competition from LINK and a few lesser but respectable projects that all have real use skin in the same game. LINK is an oracle which gives it an advantage using offchain (think fiat currencies) with onchain asset transfers. And it is even faster with a recent story claiming 6 of the world's largest banks transferred over a trillion in USD assets via LINK in one day. A little ironically, the National Bank of crypto hater China was one of those banks.
Point 5 (the sec lawsuit) makes XRP probably the most volatile big cap capable of huge moves in either direction. It also has a loyal cult following because of the legal fight. I hate to predict anything, but it seems XRP is going to wipe the floor with the SEC. If it doesn't it becomes bad news for a ton of similar projects. The bone of contention is whether or not XRP is a security or not.
Point 6 is kind of a mess, but not really important. Most alts of note that were around in 2018 have not hit those highs again.
Point 7 is nonsense. As you noticed it is on Coinbase now. These articles rarely recognize defi exchanges and now wallets doing their own defi swapping. XRP has always been easy to buy.
I recommend following the twitter conversation about this one. Follow XRP and follow those following the lawsuit. I am staying away myself. And kinda sweet on Link's position in all this.
Chaos Commish
Footballguy
AltcoinDaily pimped LINK's massive onchain ecosystem today.
The project has a reputation for fearless, aggressive marketing of their apps to prospective offchain partners. Whatever the industry, they have an app for that. From finance, to governments, to automotive, to telecom, etc. Again, Oracles like LINK connect the "real world" to this burgeoning "digitial world". There's a pretty huge caveat. Basically, why does this service need to be tokenized?
These are the "biggest" oracle coins.
Note LINK at nearly 8 billion. It's closest competitor BAND at almost 200 million. That is a massive gap. As Oracles go, LINK is more dominant than ETH is - as smart contract blockchains go. A few days back I asked@Captain Crankswhy SOL and not LINK. His answer was understandable. SOL is a great project too. But, if you believe a bubble bursting of this 1.3 trillion dollar capped hard to explain valuation industry, and you know some amazons and googles will emerge - I kinda like LINK'S dominance in it's space. SOL like ADA like DOT like POLYGON like ALGO like COSMOS like TEZOS - are all front page ETH killers and all doing fine. The space is saturated. Oracles? Not so much. A final caveat. Buterin has suggested kind of strongly that UNI should develop as an Oracle. That would change LINK's dominance quickly.
i spent the day by the pool sleeping and swimming. caffeine at 11pm has me a little wound up.
The project has a reputation for fearless, aggressive marketing of their apps to prospective offchain partners. Whatever the industry, they have an app for that. From finance, to governments, to automotive, to telecom, etc. Again, Oracles like LINK connect the "real world" to this burgeoning "digitial world". There's a pretty huge caveat. Basically, why does this service need to be tokenized?
These are the "biggest" oracle coins.
Note LINK at nearly 8 billion. It's closest competitor BAND at almost 200 million. That is a massive gap. As Oracles go, LINK is more dominant than ETH is - as smart contract blockchains go. A few days back I asked@Captain Crankswhy SOL and not LINK. His answer was understandable. SOL is a great project too. But, if you believe a bubble bursting of this 1.3 trillion dollar capped hard to explain valuation industry, and you know some amazons and googles will emerge - I kinda like LINK'S dominance in it's space. SOL like ADA like DOT like POLYGON like ALGO like COSMOS like TEZOS - are all front page ETH killers and all doing fine. The space is saturated. Oracles? Not so much. A final caveat. Buterin has suggested kind of strongly that UNI should develop as an Oracle. That would change LINK's dominance quickly.
i spent the day by the pool sleeping and swimming. caffeine at 11pm has me a little wound up.
Chaos Commish
Footballguy
yeah yeah, i am slowly cost averaging my stablecoins back into unstable coins. Pfff. I agree with cranks, again. BTC in the 20s please.I logged on this morning and for the first time in a long time, every coin I follow was in the green, and most by a nice amount.
Good day to watch some to the moon action, I can feel it
Captain Cranks
Footballguy
Good info here. You've forced me to go back and check my prior research on the project. One big negative I thought I heard was the risk that LINK's functionality serves as a TCP/IP-like protocol where it's just used for free. I went back through Coin Bureau's videos on the project and wasn't able to find anything that said that, so I must have incorrectly assigned that concern to LINK. FTR, LINK is still in my top 6 positions and it's certainly reasonable that it reappears in my top 5.Chaos Commish said:AltcoinDaily pimped LINK's massive onchain ecosystem today.
The project has a reputation for fearless, aggressive marketing of their apps to prospective offchain partners. Whatever the industry, they have an app for that. From finance, to governments, to automotive, to telecom, etc. Again, Oracles like LINK connect the "real world" to this burgeoning "digitial world". There's a pretty huge caveat. Basically, why does this service need to be tokenized?
These are the "biggest" oracle coins.
Note LINK at nearly 8 billion. It's closest competitor BAND at almost 200 million. That is a massive gap. As Oracles go, LINK is more dominant than ETH is - as smart contract blockchains go. A few days back I asked@Captain Crankswhy SOL and not LINK. His answer was understandable. SOL is a great project too. But, if you believe a bubble bursting of this 1.3 trillion dollar capped hard to explain valuation industry, and you know some amazons and googles will emerge - I kinda like LINK'S dominance in it's space. SOL like ADA like DOT like POLYGON like ALGO like COSMOS like TEZOS - are all front page ETH killers and all doing fine. The space is saturated. Oracles? Not so much. A final caveat. Buterin has suggested kind of strongly that UNI should develop as an Oracle. That would change LINK's dominance quickly.
i spent the day by the pool sleeping and swimming. caffeine at 11pm has me a little wound up.
Captain Cranks
Footballguy
I think this guy hit's on a salient point regarding ETH's network effect and how it's likely overvalued. As crypto adoption matures, user interface and cost efficiency is going to overshadow the first to market network advantage.
ETH vs ADA
That clip references a 5 hour podcast interview with Hoskinson.
ETH vs ADA
That clip references a 5 hour podcast interview with Hoskinson.
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Captain Cranks
Footballguy
They're creating a new Treasury product by which businesses can earn 4% on their treasury reserves. That announcement has some big investors talking about them.
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Captain Cranks
Footballguy
Hoskinson roasts the Bitcoin conference pretty good in the podcast I linked just above. Actually, he roasts Bitcoin in general.
@Chaos Commish I'm slowly beginning to think ADA should be the dominant holding in my portfolio. It's obvious to me that Hoskinson and his team have really thought things through from a longer term perspective and what we're seeing with the first to market and brand name recognition of BTC and ETH are only temporary phenomena. I'm not saying BTC and ETH can't become what all the hype beasts would have us believe, but ultimately they're inferior technologies whose cult statuses will eventually have to compete against more capable and cost effective solutions. People and especially businesses aren't going to have a devotion to the ETH ecosystem simply because it was first to market. They're going to want to interact and do business in an ecosystem that's secure, flexible, and cheap.
beer 30
Footballguy
Nevermind then, all back to redbeer 30 said:I logged on this morning and for the first time in a long time, every coin I follow was in the green, and most by a nice amount.
Good day to watch some to the moon action, I can feel it
Think I need to get out of the prognostication business.
amnesiac
beer is good
I agree. Once Cardano is up and running, I think you’ll see a huge mass exodus of projects from Ethereum to Cardano.
Chaos Commish
Footballguy
I have a million thoughts about this going back to my reservations from months ago, but it remains 25% of my holdings and I tried to put it in a crypto IRA but changed my mind.
I opened an application for ITrust Capital's IRA. The process was simple enough, but I mistakenly thought I could send my crypto directly to the IRA. It supports ADA and BTC (and others). I was going to park those two there and forget about them, but the IRA must be funded with dollars. Then you can start trading $s for cryptos at a 1% fee +$30 a month. Getting tax free trades and deferring gains is enticing and I may still do it after shopping the other crypto iras but I didn't feel like going to a central exchange, converting my ada and btc to a stable or usd then wiring to my bank... then to ITrust. I'm sure they're all similar, but I want lower fees, less steps, or a few more perks.
