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re: Official CryptoTalk Thread

Posted on 9/19/24 at 9:45 am to
Posted by LordSaintly
Member since Dec 2005
42356 posts
Posted on 9/19/24 at 9:45 am to
Yep. Also, BTC ETFs won't roll profits into alts like retail.

ETH especially looks weak right now.
Posted by BottomlandBrew
Member since Aug 2010
29371 posts
Posted on 9/19/24 at 10:09 am to
I think retail is out of most alts for the time being, but never underestimate retail when the bull really gets going.

In regards to Polygon, polymarket has been a huge success. I see it as one of the first major Web3 dapps to gain support outside of crypto degens.
Posted by beaverfever
Arkansas
Member since Jan 2008
35559 posts
Posted on 9/19/24 at 12:05 pm to
quote:

It's been my long standing belief that in order to eat into the sovereign debt market btc needed to cannibalize the shitcoin industrial complex first.
Well said.

For the technically inclined traders, if BTC gets to 65k and gets that higher high, is it a good bet that the 6 month down trend might be over?

People have been saying “not until the election is over” and I think that is a rookie mistake. Usually landmark events like that are the end of the cliff in a game of chicken. Meaning you don’t want to actually wait to see the event itself because a lot of the gains could have been made by that point. Receiving an answer is more important than the answer itself and the closer you get to receiving the answer, the more aggressive people will start getting.
This post was edited on 9/19/24 at 12:13 pm
Posted by LSUregit
Member since Dec 2013
1678 posts
Posted on 9/19/24 at 12:10 pm to
quote:

but never underestimate retail when the bull really gets going.


FOMO is real
Posted by beaverfever
Arkansas
Member since Jan 2008
35559 posts
Posted on 9/19/24 at 12:14 pm to
I have a borderline irresponsible allocation towards BTC and I still get fomo when it rallies.
Posted by boomtown143
Member since May 2019
9407 posts
Posted on 9/19/24 at 12:16 pm to
quote:

I think retail is out of most alts for the time being, but never underestimate retail when the bull really gets going.


retail always comes in late/last.

BTC will start pumping and the Maxi's will scream that it's over for everyone else.
Money will then flow out of BTC into eth/sol/L1s and some alts


I still say Eth will out X btc AGAIN this cycle.
This post was edited on 9/19/24 at 12:20 pm
Posted by TigerDeBaiter
Member since Dec 2010
10676 posts
Posted on 9/19/24 at 12:17 pm to
quote:

Last cycle it was the mega billion $ VCs that pumped alts. Retail to a lesser extent. Those VCs all went bully up and no one has filled the void of that risky behavior. I kind of agree that "alt season" may not live up to the hype of the past


Agree 100%

People keep clamoring for BTC dominance to fade but I think it’s going to continue to get stronger. (Over time… we might have a mini alt season)

Shitcoins continue to be exposed as pump and dump scams. Majority of the volume is a MMs and bots trading against each other these days.
Posted by beaverfever
Arkansas
Member since Jan 2008
35559 posts
Posted on 9/19/24 at 12:21 pm to
I think of alts as functioning like leveraged bitcoin products. They all erode in value and become worthless with time but they’re liable to wildly outperform Bitcoin if you catch them in the heat of a crazy bull market.
Posted by Ron Cheramie
The Cajun Hedgehog
Member since Aug 2016
5573 posts
Posted on 9/19/24 at 12:22 pm to
quote:

Money will then flow out of BTC into eth/sol/L1s and some alts


Then come the memes. That’s when it’s time to get out
Posted by boomtown143
Member since May 2019
9407 posts
Posted on 9/19/24 at 12:24 pm to
yep
Posted by BottomlandBrew
Member since Aug 2010
29371 posts
Posted on 9/19/24 at 12:29 pm to
Larry Fink claims the future is tokenized, and, imo, most of that won't happen on the Bitcoin blockchain. BTC has a very valuable place, and I'm not here to bash it. Far from it. It just doesn't have the utility that other chains have as far as tokenization. Alts like ETH, SOL, and POL (formerly Matic) aren't trying to be bitcoin. They are trying to fill another niche. Bitcoin has it's niche and nothing can compete with it in that niche.
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10607 posts
Posted on 9/19/24 at 11:12 pm to
We’re running!
Posted by LSUJuice
Back in Houston
Member since Apr 2004
18017 posts
Posted on 9/20/24 at 2:32 pm to
quote:

98eagle

Maybe I'm missing something, but why not just set a limit order for bitx rather than having to check btc all the time?

Also what's the advantage to running this strategy with bito and bitx rather than just directly with btc (again setting limit orders)? I guess the transaction fees are too much?

Sorry if all that was covered earlier.
Posted by Art Blakey
Member since Aug 2023
290 posts
Posted on 9/20/24 at 4:36 pm to
LINK

Jack w/ Rick Rubin.
Posted by Buck_Rogers
Member since Jul 2013
2073 posts
Posted on 9/20/24 at 4:48 pm to
The strategy is to use bitcoin's price as the common denominator. It helps keep everything apples to apples, since one trade is immediately followed by another trade.
Posted by boomtown143
Member since May 2019
9407 posts
Posted on 9/20/24 at 4:51 pm to
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
82089 posts
Posted on 9/20/24 at 4:56 pm to
I'm going to lose so much money on BTC ETF options I know it
Posted by boomtown143
Member since May 2019
9407 posts
Posted on 9/20/24 at 5:47 pm to
Loading Twitter/X Embed...
If tweet fails to load, click here.
This post was edited on 9/20/24 at 5:48 pm
Posted by BottomlandBrew
Member since Aug 2010
29371 posts
Posted on 9/20/24 at 5:53 pm to
I hope it's some formerly basement-dwelling nerd that's now living the life with two chicks at the same time.

I'm kind of surprised all of those early wallets haven't been doxxed yet. Then again, a lot of those early guys were all about privacy and know how to cover their tracks.
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