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re: Looking into Crypto
Posted on 12/11/24 at 4:17 pm to Art Blakey
Posted on 12/11/24 at 4:17 pm to Art Blakey
If bitcoin is trying to give the middle finger to traditional monetary policy, other technologies in the cryptosphere are trying to give the middle finger to traditional finance, data management, peer-to-peer interaction, digital/real-world asset tracking, and so on.
0
Posted on 12/11/24 at 8:25 pm to SlidellCajun
quote:
Don’t you hate checking in on these threads and seeing “SlidellCajunCUCK” as the last post?
lol..
Gotta suck.
FIFY
Posted on 12/11/24 at 8:39 pm to baseballcoach23
Some of the young guys here convinced me to enter crypto what 5 to 7 years ago.
maybe before..being a boomer I knew nothing..my cost basis is about $17,5...thanks.
maybe before..being a boomer I knew nothing..my cost basis is about $17,5...thanks.
Posted on 12/11/24 at 8:46 pm to SalE
Don’t tell Slidell that. He may burst to death from fomo. Never seen someone drooling so much from window shopping but so petrified to go in the store. Probably “too late” for him to change his boomer ways now but glad you were open minded back then 
Posted on 12/11/24 at 8:47 pm to baseballcoach23
I’ve never owned any crypto but recently crossed the $1 million mark in my brokerage account with traditional funds/ETFs.
Thinking about buying $10k of BTC to hold for a while. People have been saying it’s fugazi for years but it just keeps chugging
Thinking about buying $10k of BTC to hold for a while. People have been saying it’s fugazi for years but it just keeps chugging
This post was edited on 12/11/24 at 8:48 pm
Posted on 12/11/24 at 9:02 pm to slinger1317
Take your time, dip your toes in with the IBiT etf, do more reading and research then buy and store btc when you’re more confident/ comfortable.
Then finally… fomo and ape in to shite coins like us degenerates lol
Then finally… fomo and ape in to shite coins like us degenerates lol
Posted on 12/11/24 at 9:25 pm to Fat Bastard
So you sit on the internet changing peoples posts to make fun of them?
lol!
You’re the coolest.
I bet you have a Tesla filled with bitcoin that you bought with bitcoin that you somehow bought without fiat currency.
lol!
You’re the coolest.
I bet you have a Tesla filled with bitcoin that you bought with bitcoin that you somehow bought without fiat currency.
Posted on 12/12/24 at 5:45 am to SlidellCajun
quote:
Why didn’t you just say “blockchain”?
I have several positions in blockchain related technology through some funds. It’s legit imo from my understanding of it. Not sure it’s more secure than what currently handles the money flow around the world. We move trillions everyday without blockchain technology but nonetheless, I think there is real future in blockchain technology.
Where have I said that blockchain is not legit or investable?
The reason you tokenize the blockchain is to provide financial incentive to secure the network.
If there were no token, who would become a validator, liquidity provider, dapp creator, etc?
Posted on 12/12/24 at 6:04 am to Odinson
quote:
Probably “too late” for him to change his boomer ways now but glad you were open minded back then
Swing and miss.
I’m not missing out on anything
As I’ve posted before, I have made some money in bitcoin and hope to do it again.
I’ve been waiting for at least a 20% correction before I make another trade.
I just wish there was a way to know whether the market has bitcoin fairly valued… lol
As it stands, it’s a complete crap shoot based on the whims of traders
This post was edited on 12/12/24 at 8:25 am
Posted on 12/12/24 at 10:34 am to baseballcoach23
Dollar cost averaging is your best bet. Higher market cap coins will be a safer play. These will listed on CoinmarketCap. We will have some pullbacks along the way. Take advantage of these pullbacks instead of chasing a coin that is pumping. Prepare to sell when the market gets frothy. These coins will all dump at some point. Don’t treat em like Apple stock.
Posted on 12/12/24 at 8:51 pm to SlidellCajun
quote:
there was a way to know whether the market has bitcoin fairly valued
You might be the most hard headed human on the planet.
You were told about Metcalfe's law multiple times.
Metcalfe's Law states that the value of a network is proportional to the square of the number of users connected to it. This means that as more users join a network, its value increases exponentially.
Robert Metcalfe, co-inventor of Ethernet and 3Com Corporation, is credited with the law. It was first proposed in 1980, but at the time it referred to "compatible communicating devices" like fax machines and telephones. The law became associated with users on the Ethernet after a 1993 Forbes article.
Metcalfe's Law can be applied to many types of networks, including:
Social media
New users can add content to the platform, making it more appealing to others.
Monetary networks
Money that is accepted by more people has a higher value.
eBay
As the number of users grows, auctions become more competitive, which drives prices down and attracts more sellers.
Stock exchanges
As the number of buyers and sellers increases, liquidity increases, which attracts more buyers and sellers.
Metcalfe's Law is often cited to support the claim that larger networks are more valuable. It can also help explain why new technologies can grow and be adopted rapidly.
Posted on 12/13/24 at 6:40 am to tenderfoot tigah
quote:
Metcalfe's Law states that the value of a network is proportional to the square of the number of users connected to it.
As I’ve posted here several times- to the degree bitcoin is relevant in our lives Will determine whether it’s an investment or a trade. I think it’s still a trade. Being so volatile, I don’t see it as viable currency.
I have asked several posters what their own usage is and get nothing. It still seems like a useless thing to me. What is its use to you?
As for Metcalfe-
can you just post what the valuation of bitcoin is according to Metcalfe?
This post was edited on 12/13/24 at 6:44 am
Posted on 12/13/24 at 7:09 am to SlidellCajun
quote:
I have asked several posters what their own usage is and get nothing.
quote:I think this is the disconnect. I use it all day every day. Everyone who owns bitcoin does. It’s a store of value that isn’t being debased and a consensus is building around it. That’s its job.
to the degree bitcoin is relevant in our lives Will determine whether it’s an investment or a trade.
Posted on 12/13/24 at 8:11 am to SlidellCajun
quote:
As I’ve posted here several times- to the degree bitcoin is relevant in our lives Will determine whether it’s an investment or a trade
I don’t understand this line of thinking. For example, I invested in Target stock a while back. If Target went to zero and closed up, my daily life would not change. Ive owned Diageo and Phillip Morris stock for 15 years. I don’t even drink or smoke so if it went to zero and didn’t exist, my life would not be affected. Whether or not your life is affected if the thing you are investing in goes away, using that as a barometer for whether you should invest, is pretty short sighted.
Posted on 12/13/24 at 8:33 am to beaverfever
quote:
think this is the disconnect. I use it all day every day. Everyone who owns bitcoin does. It’s a store of value that isn’t being debased and a consensus is building around it. That’s its job.
Yeah but that’s only related to your ownership as something you’ve “invested” in which you’re calling “store of value”. As for bitcoins usage as store of value, it’s only as good as the market says and that market can be real volatile. There are other “stores of value” with more stability.
I’m talking about usage as in usage like using it to buy things as a currency.
This post was edited on 12/13/24 at 10:24 am
Posted on 12/13/24 at 8:38 am to TigerTatorTots
quote:
I don’t understand this line of thinking. For example, I invested in Target stock a while back. If Target went to zero and closed up, my daily life would not change.
Bingo! You’re making the point very well! You understand the line of thinking very well.
It’s about usage. I agree that if Target went caput or just didnt exist, my life would probably not change much but others I know would be impacted. Lots of jobs. Real estate locations. Products they offer vs others…. There’s a lot of working parts but my life would not halt if Target didn’t exist. So the multiple that I apply to Target would be related to the company or products usage or relevance to mankind.
Apple-, different story. Big impact on my life and many others if they didn’t exist Same for Tesla, Amazon, And lots of other things. The latter 3 companies create a lot of value and people’s lives changed as a result. People would have a hard time without them. Companies work real hard to create value. Some do it better than others.
As for bitcoin- nothing. If it were never created, it wouldn’t mean squat for me. Probably the same for 99% or the world but that’s just a guess.
I own cava, nvidia, c3AI, and Coca Cola.
I don’t drink coke. I never eat at cava. I use nvidia but it’s not overt. Not sure if c3AI is influencing my life or not. Despite all this, I know they have usage and relevance to varying degrees around the world. It’s not just about me in that respect. They have real value and I can see it from revenue to the net bottom line. I can see it over time. I can apply valuations measures on those things.
Not so with bitcoin.
This post was edited on 12/13/24 at 8:49 am
Posted on 12/13/24 at 8:54 am to SlidellCajun
quote:This is just a wild way of evaluating what is worth investing in.
It’s about usage. I agree that if Target went caput or just didnt exist, my life would probably not change much but others I know would be impacted. Lots of jobs. Real estate locations. Products they offer vs others…. There’s a lot of working parts but my life would not halt if Target didn’t exist. So the multiple that I apply to Target would be related to the company or products usage or relevance to mankind.
I invest in things that have potential for growth. Not what affects me directly. Because what affects me directly could be wildly different than what effects my neighbor directly. Poor way of looking at an investment from only your little bubble.
Nevertheless I broke my rule of not getting sucked in to your mind games so that is all for today
Posted on 12/13/24 at 8:59 am to TigerTatorTots
quote:
Nevertheless I broke my rule of not getting sucked in to your mind games so that is all for today
Posted on 12/13/24 at 9:15 am to SlidellCajun
quote:
SlidellCajuncuck
Posted on 12/13/24 at 9:20 am to TigerTatorTots
quote:
Not what affects me directly.
Correct and I’ve said as much.
Bitcoin doesn’t impact my life or anyone I know personally or in business. I’ve tried to look behind myself-even on this forum -and no one uses it.
Fwiw- i would never accept bitcoin as payment in my business.
So as I see it- the trade is a fomo trade. That’s fine and I’m all for it with the caveat that the trader be open minded. No one wants to really admit that because the cards could fall quickly if everyone believed that. I just think it’s important to have people go in with open eyes on this stuff. People need to be open minded to the potential that bitcoin never materializes into a truly revolutionary form of currency that changes peoples lives.
This post was edited on 12/13/24 at 9:43 am
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