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Started By
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re: Official CryptoTalk Thread
Posted on 12/4/21 at 9:04 pm to Pendulum
Posted on 12/4/21 at 9:04 pm to Pendulum
I think intrinsic value is ultimately found in the network effect viewed through Metcalfe's law. If you can convince people to stick around and use your network, it will be valuable. Even useless tokens find value this way. However, keeping people around is tough and ultimately your network will need to have appealing properties to accomplish it. The Bitcoin network, with its promise of a scarce asset akin to a digital gold able to be sent in seconds peer to peer without the need for a centralized authority across the most secure payment rails ever known to man, is always going to have people drawn to it because these properties are very appealing.
This post was edited on 12/4/21 at 9:08 pm
0
Posted on 12/4/21 at 9:40 pm to JimMorrison
quote:Do governments accept the value of pokemon cards, fine art, memorabilia?
It can't be a store of value if the world governments don't accept it as value.
Posted on 12/4/21 at 10:17 pm to eng08
quote:
FHM used 700k to setup the movr liquidity and made it back in less than 24 hrs.
Alright. Just aped into FHM but through the Fantom Opera network. Not Moonriver. Bought the dip with no issues.
Just an FYI, the route I took was to buy FTM on KuCoin then sent the FTM to my MM wallet. From there I swapped FTM for FHM on spookyswap. Then staked it on FHM app. All went smoothly.
Posted on 12/4/21 at 10:23 pm to GumboPot
Yep, it’s easy.
They are abt to launch a wrapped version too, should help with taxes if you do that sorta thing.
They are abt to launch a wrapped version too, should help with taxes if you do that sorta thing.
Posted on 12/4/21 at 11:07 pm to eng08
Posted on 12/5/21 at 5:14 am to TigerTatorTots
BTC is a money which has value because it isn't govt controlled. I'm really not sure why that is so difficult to understand
if anything, that should resonate pretty clearly esp after the covid debacle
if anything, that should resonate pretty clearly esp after the covid debacle
This post was edited on 12/5/21 at 8:58 am
Posted on 12/5/21 at 8:18 am to Ross
quote:
Ross
I agree with you that the blockchain network is the true innovation and is valuable, but the technology isn't cemented to Bitcoin or any other crypto. What is stopping central banks from creating their own blockchain network?
I came in this thread last night because the crypto market is proving out to be nothing more than investment vehicles. Why is crypto turning bearish simultaneously with the stock market? That correlation can't be ignored. It's why Bitcoin being shilled as a store of value is false. It also is proving not to be an inflation hedge.
We're probably also on different pages on what we think for future adoption. In my mind, the end goal is government adoption and it is inevitable for blockchain networks, but I don't think governments/central banks will hand over control of their payment networks to random projects. For example, why would a central bank adopt Ethereum's network instead of building their own network and issue CBDCs?
Government adoption would bring centralization to the space. In your view, do you think global citizens will just be paying for goods and services on these current crypto networks without government adoption? China already banned it because they're building their own so that's one major economy and central bank off the table. That's what I don't understand. If the world central banks develop their own blockchain network, current crypto projects would just end up being investment assets, which is my point.
Posted on 12/5/21 at 8:35 am to TigerTatorTots
quote:
Do governments accept the value of pokemon cards, fine art, memorabilia?
I mean, I wouldn't make this analogy if I were trying to convince people Bitcoin is digital gold.
I'm really not looking to change anyone's mind because I know I can't in this thread and no one here knows where crypto is going in the future. I do believe the underlying tech is the absolute game changer.
The market is just telling me crypto in its current form is a risk asset and right now is not a buying opportunity. It looks like a major downturn in prices is on the horizon. I wouldn't be surprised to see BTC below $42k very soon. Good luck to all.
Posted on 12/5/21 at 9:14 am to JimMorrison
LINK is gonna get flipped by TRON pretty soon.
Ron sad
Ron sad
Posted on 12/5/21 at 9:34 am to Ron Cheramie
link out of the top 20. doge out of the top 10
damn
damn
Posted on 12/5/21 at 10:23 am to Pendulum
quote:
Without the decentrilization and scarcity of BTC, it loses everything to me as far as intrinsic value goes, that's why its seperated from the rest of the crypto world to me.
Perfectly said.
People don't understand how deep the BTC rabbit hole goes.
I am watching closely what happens with El Salvador and their BTC bond that is coming in 2022.
If it is subscribed to quickly, it is going to change a 100 Trillion dollar market. Other countries will follow.
People can't grasp how far BTC can go from here.
Posted on 12/5/21 at 11:45 am to rocket31
Here is a interesting BTC chart:
Posted on 12/5/21 at 11:59 am to I Love Bama
4 green on the weekly: sol, luna, eth, matic
avax at $85 looks spicy for a trade
avax at $85 looks spicy for a trade
Posted on 12/5/21 at 12:09 pm to GumboPot
Posted on 12/5/21 at 12:18 pm to rocket31
The FUD-pump could accelerate from here if BTC slips much further. Interesting times in global markets. I’ll watch 
Posted on 12/5/21 at 12:21 pm to CecilShortsHisPants
yea tonights crypto activity will give us a good hint about tomorrow
Posted on 12/5/21 at 2:06 pm to rocket31
I don’t think I’ll ultimately hate buying LINK because I wanted an Oracle play in my portfolio but my timing sure sucked
Posted on 12/5/21 at 6:31 pm to Ross
its been a pretty brutal year for alot of eth defi
aave, sushi, link
aave, sushi, link
This post was edited on 12/5/21 at 6:32 pm
Posted on 12/5/21 at 7:40 pm to rocket31
Yeah the "defi 2.0" protocols are sucking up a lot of that money.
Posted on 12/5/21 at 8:04 pm to Hulkklogan
true. this guy says link is the top 10 worst coins you could have owned this year, lmao
LINK
#1 $CEL -42%
#2 $XEM -40%
#3 $SNX -39%
#4 $ICP -35%
#5 $BSV -31%
#6 $LTC -5%
#7 $EOS +5%
#8 $BCH +5%
#9 $LINK +36%
#10 $COMP + 41%
LINK
#1 $CEL -42%
#2 $XEM -40%
#3 $SNX -39%
#4 $ICP -35%
#5 $BSV -31%
#6 $LTC -5%
#7 $EOS +5%
#8 $BCH +5%
#9 $LINK +36%
#10 $COMP + 41%
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