MISC Crypto Crew (MCC) Vol: XIII: Money printer goes brrrrrr, But Bitcoin doesnt

[2020Wellness]

Is it just me or does ETH seem to be uncoupled from BTC at this point?

[lowstrife]

Is it just me or does ETH seem to be uncoupled from BTC at this point?

After getting beat down by daddy corn, the ratio is turning around nicely.

[BDSMBBW]

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.

[PimpMasterC]

Other cryptos will probably be the currency or fulfill other functions, because this is true, bitcoin will never scale. With what we saw happened in 2017, and lack of any action thereafter, it will never scale.

But bitcoin only has one thing truly going for it. I think it will be the reserve currency for all cryptos. It's the peg that the rest of the economy rides on. You need a liquidity backstop. You need even distribution. It's been around and had a totally free-market distribution of the supply for a decade, no other crypto can do that. And I for one place value in that.



This is why 99.99999% of all assets in the world are held. The number of people holding something because they "believe in it" wouldn't hold it if there was no value, appreciating value, attached to it. Those things are called heirlooms. That sentimental value object you've had for 20 years with no value, but you keep it around anyway.

I don't see how bitcoin, ethereum, gold or any other asset is different. People hold them because they want to sell it for a higher value tomorrow.

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.

[KingKringe]

how we feeling about HEX boyos

[jamalfudge]

how we feeling about HEX boyos

The founder is on record saying he will use "pumpamentals" to give the impression it's a high value coin. As long as a coin's highest exchange volume is a Uniswap style exchange, it's not worth investing.

[Serenadium]

damn, holding this has got to be the most traumatic experience of one's lifetime. Now at $1.80...

[Gringo12]

****ing SXP piece of **** **** coin mother ****er bitch kunt slut useless ****ing

[lordpatrick]

****ing SXP piece of **** **** coin mother ****er bitch kunt slut useless ****ing

The only coin I listened to on twitter shills, I bought 5000$
It's 1000$ now

True ****coin, never buy a binance coin

[PimpMasterC]

damn, holding this has got to be the most traumatic experience of one's lifetime. Now at $1.80...

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.

[KingKringe]

glad i pulled out everything but BTC prior to the election

[W1LLW]

****ing SXP piece of **** **** coin mother ****er bitch kunt slut useless ****ing

The only coin I listened to on twitter shills, I bought 5000$
It's 1000$ now

True ****coin, never buy a binance coin

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)

glad i pulled out everything but BTC prior to the election

I'm still holding my XRP and ETH stack but I bought those low anyways so i'm not too worried.

[Techriding101]

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/vVZSx43e

[SniXSniPe]

Out of curiosity, why do crypto holders always seem to be delighted when another coin starts ****ting?

Seems like a bad mindset to hold, in general.

[W1LLW]

Today: $16 new ATH, and 0.04 ETH.

Doubled in USD since my call there. Plenty further to go. Anyone in yet?

Quant will be a top ten coin.

It's not too late.

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/vVZSx43e

too far out into the realms of possible schitcoinism. good luck or your lottery play though.

Out of curiosity, why do crypto holders always seem to be delighted when another coin starts ****ting?

Seems like a bad mindset to hold, in general.

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.

[mr.left hook]

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?

[BDSMBBW]

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?

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..

[W1LLW]

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..

ehhhhhhhhh. it's not like he's holding pnk, sxp, and linda. at least the alts he chose already have major company partners.

[BDSMBBW]

If there are gonna be no new buyers coming in, the price isn't going to pump..just think about it so many people yolo'd in XRP at the top. They will all be waiting to sell. Dont put in anything more than you can afford to lose! Don't "INVEST" in chitcoins!

[lordpatrick]

If there are gonna be no new buyers coming in, the price isn't going to pump..just think about it so many people yolo'd in XRP at the top. They will all be waiting to sell. Dont put in anything more than you can afford to lose! Don't "INVEST" in chitcoins!

Top buyers don't hold that long, they already sold.
Same thing can be said about BTC at 20k, yet now it's back to 13k-14k

[BDSMBBW]

Top buyers don't hold that long, they already sold.
Same thing can be said about BTC at 20k, yet now it's back to 13k-14k

know the risk is all im saying. if ure gambling with chitcoins, its better to know that you can lose it all.

[PimpMasterC]

Alts just keeps getting beat down lol. They are getting rekt and I´m loving it!

[Horse86]

couldn't afford a longer vacation? Sell some of that Tezos for some extra cash ($1.81) LOL

[Swoldi3er]

Look into Haven Protocol (XHV) This is going to be a gamechanger imo. As always DYOR

[Horse86]

14.7 broke

[lordpatrick]

Look into Haven Protocol (XHV) This is going to be a gamechanger imo. As always DYOR

Thank you 1 post guy on a bodybuilding forums.

I'm putting all my money into your shill

[PimpMasterC]

Look into Haven Protocol (XHV) This is going to be a gamechanger imo. As always DYOR

It´s gonna be huge! The next big thing. They have good team, many money and good potential to moon. Game changer for sure. I just bought XHV, I don´t want to miss out on this one. It gonna pump so hard, oh my gosh. This can go 100x, it has all the right fundamentals. Will bring many riches

[Horse86]

allll aboard the 15k train....

[W1LLW]

allll aboard the 15k train....

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.

[Horse86]

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.

hopefully a slow rise for a while with btc then a moon at the end...it's better that way as its more sustainable and creates support.

that 32 eth I hear will need to be locked up for 2-3 years.....Nah i'm sweet. Not locking mine up for that long