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re: Official CryptoTalk Thread
Posted on 12/30/20 at 11:22 pm to Brobocop
Posted on 12/30/20 at 11:22 pm to Brobocop
100% yes, we are just starting the fun
ETA: Granted, I've been saying throw all your money into BTC since the summer so my thoughts haven't changed at all and have actually gotten more bullish in recent weeks.
ETA: Granted, I've been saying throw all your money into BTC since the summer so my thoughts haven't changed at all and have actually gotten more bullish in recent weeks.
This post was edited on 12/30/20 at 11:24 pm
3
Posted on 12/30/20 at 11:55 pm to stout
quote:
VET coins
So this is random but does anyone know how to convert VEN to VET? Is there still a way to do this or is it too late?
Apologies.. I haven’t really paid much attention to crypto since getting taken to the cleaners in the 2017 crash...
Posted on 12/31/20 at 12:05 am to TigerTatorTots
quote:
have actually gotten more bullish in recent weeks.
Agree, "regulatory clarity" destroying illegitimate alt coins will cause the market cap money to consolidate.
Any way you look at the market, it's going to be interesting to watch this next year.
Posted on 12/31/20 at 3:49 am to JimMorrison
Wanna pump! XRP,XLM and Algo! Then LINK and Tezos! Pump this! We gonna make money! Be rich and shite
Posted on 12/31/20 at 5:33 am to James11111
I hate myself every day of my life for not listening to Wiki when I had the chance
Posted on 12/31/20 at 7:54 am to TigerTatorTots
I'm getting close to a coin now, but I haven't bought any more than 100 bucks to transfer to a sports betting site since 2012ish until this June.
I'm still searching the surface for cracks, I'm also not interested in any non-decentralized coin, too much power in the hands of too few, I'd rather stay in USD and equities if I want to invest in companies....at least theres more transparency, we dont know shite about the financials of any of these companies that run alt coins.
But I think BTC has something because of this absolute scarcity, the current entrenchment, and the fact that governments around the world are expanding the monetary supply at a faster rate than any company could hope to grow at; and then they use a broken indicator CPI to find inflation, which will never find inflation. My portfolio of stocks is up 55% YTD while I worked a full-time job where we were busier than ever this year. That's not real. It was the easiest 50% ever, which immediately makes me search for why it's not real which has led me to bitcoin in 2020. I wager our dollar has lost 20-30% of it's value. All these popular public companies have gone up 75-100%, their earnings have not, their yield has not.
And If you think this way of governing is going to slow down, you are insane, it's only getting worse, because there is no way out of this endgame now for fiat currency.
For BTC, my main concerns that I haven't explained away to make me go deeper are:
1. Satoshi and the 1 million coins floating out there untouched. I really dont know what to think about this; there's so little actual information on how it started, is some guy that had these coins dead? Then its probbably a none-issue. Did Satoshi just see his wildest expectations playing out 3 years into BTC and just disappear? It's a strange situation, but also why BTC has a "Virgin" birth.
2.Still so top heavy, there's such a small amount of people that own so much of BTC. I don't know if this is actually a problem if these people believe in it, but I just cant see these people becoming trillionaires, and not having the power to move the market if they have significant positions at like $1 say. These people would become like god.
3. This is the big one. What do the governments do? They will do something when they start seeing billions flowing out of their banks, but what will it be? They cant stop the ledger, they cant really attack the exchanges because they would migrate to the next country that is more than willing to bring those taxes in. However, what if they do something crazy like create a special 85% tax for crypto capital gains. They can certainly track when the bitcoin is exchnaged to the USD with their resources and find you out and make you pay that tax. I suppose the hope is that bitcoin will become the currency so you wont need to exchange, I don't buy this; it's never going to be the "Currency" but I think it's going to be the standard store of wealth. The other hope is entrenchment of powerful people will sway policies.....maybe.
Someone that was a believer in this game long before me, maybe can help me out with one of these.
I'm still searching the surface for cracks, I'm also not interested in any non-decentralized coin, too much power in the hands of too few, I'd rather stay in USD and equities if I want to invest in companies....at least theres more transparency, we dont know shite about the financials of any of these companies that run alt coins.
But I think BTC has something because of this absolute scarcity, the current entrenchment, and the fact that governments around the world are expanding the monetary supply at a faster rate than any company could hope to grow at; and then they use a broken indicator CPI to find inflation, which will never find inflation. My portfolio of stocks is up 55% YTD while I worked a full-time job where we were busier than ever this year. That's not real. It was the easiest 50% ever, which immediately makes me search for why it's not real which has led me to bitcoin in 2020. I wager our dollar has lost 20-30% of it's value. All these popular public companies have gone up 75-100%, their earnings have not, their yield has not.
And If you think this way of governing is going to slow down, you are insane, it's only getting worse, because there is no way out of this endgame now for fiat currency.
For BTC, my main concerns that I haven't explained away to make me go deeper are:
1. Satoshi and the 1 million coins floating out there untouched. I really dont know what to think about this; there's so little actual information on how it started, is some guy that had these coins dead? Then its probbably a none-issue. Did Satoshi just see his wildest expectations playing out 3 years into BTC and just disappear? It's a strange situation, but also why BTC has a "Virgin" birth.
2.Still so top heavy, there's such a small amount of people that own so much of BTC. I don't know if this is actually a problem if these people believe in it, but I just cant see these people becoming trillionaires, and not having the power to move the market if they have significant positions at like $1 say. These people would become like god.
3. This is the big one. What do the governments do? They will do something when they start seeing billions flowing out of their banks, but what will it be? They cant stop the ledger, they cant really attack the exchanges because they would migrate to the next country that is more than willing to bring those taxes in. However, what if they do something crazy like create a special 85% tax for crypto capital gains. They can certainly track when the bitcoin is exchnaged to the USD with their resources and find you out and make you pay that tax. I suppose the hope is that bitcoin will become the currency so you wont need to exchange, I don't buy this; it's never going to be the "Currency" but I think it's going to be the standard store of wealth. The other hope is entrenchment of powerful people will sway policies.....maybe.
Someone that was a believer in this game long before me, maybe can help me out with one of these.
This post was edited on 12/31/20 at 7:58 am
Posted on 12/31/20 at 9:26 am to Pendulum
quote:Someone has been doing good research! These are the main reasons to get into bitcoin.
But I think BTC has something because of this absolute scarcity, the current entrenchment, and the fact that governments around the world are expanding the monetary supply at a faster rate than any company could hope to grow at; and then they use a broken indicator CPI to find inflation, which will never find inflation.
quote:
1. Satoshi and the 1 million coins floating out there untouched. I really dont know what to think about this; there's so little actual information on how it started, is some guy that had these coins dead? Then its probbably a none-issue. Did Satoshi just see his wildest expectations playing out 3 years into BTC and just disappear? It's a strange situation, but also why BTC has a "Virgin" birth.
Most people think he is dead. Hal Finney was part of the creation but also died a few years into it from I think ALS.
quote:This should level out over time. Everyone has a selling point - the larger holders are more likely to trim their holdings as price goes up rather than the average joe who has a half coin.
2.Still so top heavy, there's such a small amount of people that own so much of BTC. I don't know if this is actually a problem if these people believe in it, but I just cant see these people becoming trillionaires, and not having the power to move the market if they have significant positions at like $1 say. These people would become like god.
quote:Governments with not much to lose will adopt it. Governments with everything to lose (the world powers) will try to regulate it so their worthless fiat isn't endangered. You'd start to see somewhat of a "supply/demand" shift - people moving their businesses or themselves to BTC friendly countries away from the regulations. This has always been my biggest fear of BTC, but the more billion dollar companies that add it to their balance sheet and more institutional funds that buy it, the less likely a major regulation would happen. You also get the lobbying power and lawyers that come with these billion dollar companies holding BTC. For example, a company with a $100 million worth of BTC would use influence of their lobbyers and lawyers to sway regulatory policy if part of their company is at stake.
3. This is the big one. What do the governments do?
It really looks like you've done some great research into this. Keep it up
Posted on 12/31/20 at 10:42 am to TigerTatorTots
Good discussion. If you haven't come across it already, I'd suggest reading Naval Ravikant on crypto.
Naval
Naval
quote:
The technical advantages of cryptocurrencies are bootstrap mechanisms for mass-belief. Once enough people believe in a currency, it's real.
Posted on 12/31/20 at 11:03 am to TigerTatorTots
quote:
100% yes, we are just starting the fun
no doubt.
The fact that institutions are getting into crypto during this bull run tells you something.
It's just starting.
BTC
ETH
HEX
Posted on 12/31/20 at 11:14 am to boomtown143
quote:That is the exact reason I think we are in the early innings here
The fact that institutions are getting into crypto during this bull run tells you something.
Posted on 12/31/20 at 11:14 am to TigerTatorTots
BTC to 200k by 2023
Posted on 12/31/20 at 11:35 am to TigerTatorTots
Yeah those folks aren’t just FOMOing
Posted on 12/31/20 at 12:43 pm to jimbeam
quote:
those folks aren’t just FOMOing
Those folks bought at $8k and are now releasing that they are buying in BTC
Posted on 12/31/20 at 1:38 pm to Douglas Quaid
@naval is an interesting Twitter follow.
Posted on 12/31/20 at 2:09 pm to tduecen
quote:A large number of smart people think $200k comes sooner than that. I'm skeptical but would love to see it
BTC to 200k by 2023
Posted on 12/31/20 at 2:11 pm to CE Tiger
quote:You talking about the companies? Incorrect because they are releasing SEC filings, as mandated, when they acquire and at what price.
Those folks bought at $8k and are now releasing that they are buying in BTC
Posted on 12/31/20 at 2:14 pm to TigerTatorTots
No chance Bitcoin goes to 200k. It’s a bubble and it will pop
Posted on 12/31/20 at 2:15 pm to Fox McCloud
quote:Care to give a prediction? What the peak and when does it pop since you are so sure.
No chance Bitcoin goes to 200k. It’s a bubble and it will pop
This post was edited on 12/31/20 at 2:19 pm
Posted on 12/31/20 at 2:24 pm to TigerTatorTots
Will touch 30k and Plummet
Could be wrong on 30k but it’s just a matter of time before it comes crashing down and the whales pull the rug out from under the average investor.
Could be wrong on 30k but it’s just a matter of time before it comes crashing down and the whales pull the rug out from under the average investor.
This post was edited on 12/31/20 at 2:26 pm
Posted on 12/31/20 at 2:25 pm to Fox McCloud
quote:
Will touch 30k and Plummet
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