Is it just me or does ETH seem to be uncoupled from BTC at this point?
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10-31-2020, 12:33 PM #901
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11-01-2020, 04:39 PM #902
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11-02-2020, 12:26 AM #903
https://twitter.com/BitMEXResearch/s...48659248721921
Thats bitmex 2020 predictions in 2019 december.
It almost touched both points. What an amazing prediction that was. It hit both 3k and almost 15k exactly as predicted.
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11-02-2020, 06:40 AM #904
Btc as a Reserve currency for all cryptos sounds enticing, but Btc is fundamentally flawed as is proof of work, so it wouldn´t fufill the reserve currency role very good. Simply too many downsides/problems. It has been around for 11 years now, and it´s actually struggling more than it did 3 years ago. Another crypto can easily become a better reserve currency than btc in the future, btc is more replaceable than you think.
If btc will be the reserve currency of crypto that implies that it will remain the biggest, which will be very difficult because the competition will bes so strong and other coins will offer much more value. Other coins will have many more reasons to pump and provide value than btc does, si the gap will eventually be closed, it´s like an universal law. Value provided wins every time in the end, so btc is screwed. What will bring BTC to 10 trillion market cap? It needs to provide massive amounts of value to get there, demand alone won´t take it there, without any real use case/value proposition as the ground floor.
Furthermore, btc is not distrubuted good at all. A small clique of people likely hold 15%+ of the supply. It´s manipulated to the teeth, and one person could crash the price = Not good fundmentals. Satoshi holding that many coins is not good, I don´t see how people can justify that. Mining will also likely become more centralized over time as I have expained. But not only will mining become more centralized, every portion of the bitcoin ecosystem will becom more centralized over time. As seen with Blockstream for example. There is no strong enough force to combat the centralization developing in the bitcoin ecosystem.
To create true decentraliation, you need MANY USECASES. Bitcoins biggest usecase is gambling, and there are not many other usecases for it. This ensures that the casino will always hold the power. Btc can´t become truly decentralized ever because of POW, few use cases and bad token distribution.
Of course all assets are held because of a belief in price increase. But most assets provide some real value, earn revenue, and are more grounded in reality. Bitcoin is more like a religion, and when people stop believing in the religion, it will have NOTHING to fall back on. A company that have customers, an unique product and cash flow, doesn´t fall apart because the shareholders stop believing in it, usually. It has something to fall back on.
Bitcoin however, will fall apart if people stop buying in to it, and it relies on new people joining the religion to keep the wheels rolling. Thats the difference between bitcoin and most other assets. It only takes a social narrrative shift to collapse the entire system.
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11-02-2020, 08:58 AM #905
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11-02-2020, 09:01 AM #906
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11-02-2020, 10:19 PM #907
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11-02-2020, 11:10 PM #908
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11-03-2020, 01:24 AM #909
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11-03-2020, 01:28 AM #910
I´m clearly in this guys head. Still up 3x. I don´t care if it goes down to $1. I cashed out most of my crypto before the March crash, so I don´t hold much of anything.
I´m still massively up from my initial crypto investment. I´m not attached to the market because most of my investments are not in crypto, you should try that as well. You seem a little emotional when alts bleed out.Last edited by PimpMasterC; 11-03-2020 at 01:37 AM.
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11-03-2020, 06:32 AM #911
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11-03-2020, 07:26 AM #912
That's rough. If you're not majority in BTC/ETH you should at least make some effort to be buying the bottom (pre-pump) of whatever alt you're diving into.
Looking at the SXP chart, if you weren't accumulating from May to July then it's over for you. I jumped on a LYXe (Luksor) pump a month or so back and took a bit of a hit, but that was like 5% of my crypto portfolio. Learned my lesson (again)
I'm still holding my XRP and ETH stack but I bought those low anyways so i'm not too worried.DCA'ing FXS since Sept2022
Kobe Forever
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11-03-2020, 11:24 AM #913
if you guys want a random moonshot for possible 10x gains, looks into FISH token
0x30bcd71b8d21fe830e493b30e90befba29de9114 is the contract address, can be traded for on uniswap
Fish token is the governance token of the Penguin Party that controls a massive groups of UNISWAP governance votes. Governance inside of governance / L2 solution
They have currently implemented a wrapped UNI token that lets you vote while in an LP
This might be my Lindacoin 2.0 but with an actual product and an actual team working on it.
discord invite lasts 1 day - https://discord.gg/vVZSx43eFree Men Don't Ask
You Wouldn't Download a Gun
https://ctrlpew.com/
Disclaimer: all content posted by Techriding101 is purely for roleplay purposes
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11-03-2020, 11:47 AM #914
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11-03-2020, 12:12 PM #915
too far out into the realms of possible schitcoinism. good luck or your lottery play though.
People investing with money (emotion). Typically are rallied behind one or two big projects. Natural to get in a pissing match with someone who is more emotionally invested in a project that's not the same as yours. Jokes/Schit talking ensue.DCA'ing FXS since Sept2022
Kobe Forever
Black Crew
Bucks N 6
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11-03-2020, 08:41 PM #916
what is a good place to get more knowledgeable on crypto? I got my hand on some XRP, BAT, XLM, and Bitcoin
XRP is being real stubborn, but it's over 10 billion Market cap .something good gotta happen right?MR.PHF '09
“Do you see over yonder, friend Sancho, thirty or forty hulking giants? I intend to do battle with them and slay them.”- Don Quixote
''Damn right I like the life I live
'Cause I went from negative to positive
And it's all Good..."
"Friends come and go but Enemies Accumulate"
"Zero tolerance Crew" ZERO, NADA !!!!
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11-03-2020, 09:27 PM #917
They are all down like 30% in last couple of weeks(except btc). Your major holdings should be BTC.
If any of them pump like 200%+ take profits. Till then just hold, and only invest what you can afford to lose. XRP,BAT and XMR are all like penny stocks, Risk of losing money is very high, But reward is also high.
For me alts either go to zero or pump. Whatever money you invest in chit coins be prepared to lose it all. BTC is a little bit safer as it most likely won't go to zero any time soon..
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11-04-2020, 03:37 AM #918
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11-04-2020, 04:46 AM #919
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11-04-2020, 05:14 AM #920
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11-04-2020, 06:05 AM #921
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11-04-2020, 07:02 AM #922
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11-04-2020, 07:04 AM #923
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11-04-2020, 05:05 PM #924
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11-05-2020, 03:58 AM #925
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11-05-2020, 04:20 AM #926
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11-05-2020, 05:09 AM #927
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11-05-2020, 05:20 AM #928
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allll aboard the 15k train....
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11-05-2020, 06:34 AM #929
predictable rejection at 15k. will be a retracement, but i have no idea to what number. 20k end of year?
Also, Ethereum seems to be behaving oddly well. I think this is largely due to ETH being THE platform from which all degeneracy flows. That is to say it's the bellcow for crypto "utility", and with ETH 2.0 around the corner, I don't see the enthusiasts (or whales for that matter) selling off their ETH. They want to hold on to that 32 validator minimum. Just a hypothesis.DCA'ing FXS since Sept2022
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11-05-2020, 06:44 AM #930
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