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Started By
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re: Official CryptoTalk Thread
Posted on 1/31/25 at 11:38 am to Art Blakey
Posted on 1/31/25 at 11:38 am to Art Blakey
quote:
If the goal of the world computer/defi/web 3 (+ 10 other marketing narratives over the years) setup was to build an alternative system
Yes. Same as bitcoin.
quote:
have the entire tradfi system switch over to it
No. Not the original purpose, but if it happens, cool. I disagree with you that it can be considered a failure at this point.
It's difficult for me to grasp the closed-mindedness of bitcoin maxis. Bitcoin, in it's current state, cannot be everything.
quote:
All the whiz bang features of current centralized crypto will be added much later, in a second or third layer, if, and only if there is demand for it.
There already is a demand for it, but there is not consensus for an upgrade within the bitcoin community. People want bitcoin to remain bitcoin. That is it's single greatest and weakest attribute.
1
Posted on 1/31/25 at 1:15 pm to BottomlandBrew
quote:
It's difficult for me to grasp the closed-mindedness of bitcoin maxis.
Here, I'll say it again
What crypto advocates continually misunderstand is that "decentralized systems" can not be built on a centralized base layer run by a small foundation. Congratulations, you literally just recreated the Federal Reserve system and sprinkled a dash of cryptography in. What the existing system needs, more than anything, is a decentralized base layer with sound monetary policy.
That^ is the primary problem based on first principles. You aren't solving anything without a decentralized base layer because centralization has been the central problem since the invention of the telegraph dislocated the transaction layer from the settlement layer of gold. Paper claims on gold eventually gave way to full fiat.
Centralized crypto doesn't remove that elephant from the room. It merely trains it to perform new tricks while simultaneously denying its presence in the room all while quietly dumping premined tokens into the market. It is difficult for me to grasp how crypto advocates don't understand that they are being scammed.
Posted on 1/31/25 at 7:28 pm to Art Blakey
So your opinion is nothing except bitcoin is decentralized?
Posted on 1/31/25 at 8:39 pm to BottomlandBrew
I foresee a link play in my near future
Posted on 2/1/25 at 2:21 am to jefforize
I got in link near the bottom couple years ago. I’m hoping it has a big cycle.
Posted on 2/1/25 at 7:00 am to BottomlandBrew
quote:
So your opinion is nothing except bitcoin is decentralized?
It's not an opinion. It is easily verified. Is the consensus mechanism proof of work? If not, it is centralized. If it is proof of work can you run a full node on a cheap refurbished laptop? If not, it is centralized. Was there a premine? If yes, it is centralized.
If you argue the contrary to the answers of any of the above questions, your definition of decentralized is so far afield from mine that any further discussion is futile.
Posted on 2/1/25 at 7:53 am to Hateradedrink
quote:
There will be an alt season.
What event needs to happen (or not happen) in order for you to rethink this thesis?
Posted on 2/1/25 at 11:38 am to I Love Bama
Bitcoin breaking 600k this cycle
Eta: it also depends on what you mean by “alt season”
If you mean a bunch of cakefartcoins going 5000% and a “doesn’t matter what you own, it will 30x”-type affair, then I agree this is unlikely.
Alt coins that are good projects will 20-30x from cycle low. This is what I mean by “alt season”. When meaningful coins 20-30x from cycle low.
Hell, SOL has already 20x-plus’d from cycle low.
Eta: it also depends on what you mean by “alt season”
If you mean a bunch of cakefartcoins going 5000% and a “doesn’t matter what you own, it will 30x”-type affair, then I agree this is unlikely.
Alt coins that are good projects will 20-30x from cycle low. This is what I mean by “alt season”. When meaningful coins 20-30x from cycle low.
Hell, SOL has already 20x-plus’d from cycle low.
This post was edited on 2/1/25 at 11:43 am
Posted on 2/2/25 at 7:48 am to Hateradedrink
quote:
Hell, SOL has already 20x-plus’d from cycle low.
Don't remind me.
Posted on 2/2/25 at 12:49 pm to I Love Bama
Guess it’s time to revise the 120k predictions.
We’re going to wake up to sub-40 fear/greed indices tomorrow if this continues.
Probably won’t see meaningful upside until the markets ascertain how to handle the tariffs.
We’re going to wake up to sub-40 fear/greed indices tomorrow if this continues.
Probably won’t see meaningful upside until the markets ascertain how to handle the tariffs.
Posted on 2/2/25 at 12:56 pm to Hateradedrink
We’re going to be under $40k? Or did I misunderstand your comment?
Posted on 2/2/25 at 1:01 pm to finchmeister08
Fear/greed is a measure of market sentiment. It ranges from 0-100. Generally anything above 80 is time to sell because the market is frothy.
It was 47 this morning. Since then, the market has tanked and is still tanking.
40-60 is “neutral”. 20-40 is “fear”. 0-20 is “extreme fear”.
It was 47 this morning. Since then, the market has tanked and is still tanking.
40-60 is “neutral”. 20-40 is “fear”. 0-20 is “extreme fear”.
Posted on 2/2/25 at 3:24 pm to Hateradedrink
Ah I see. Thanks!
Posted on 2/2/25 at 4:40 pm to finchmeister08
That pump that ETH caught to almost $3500 last week was a hell of a deal.
Posted on 2/2/25 at 4:49 pm to beaverfever
This is a blood bath. I am still holding everything. Going to buy the lows tomorrow.
Posted on 2/2/25 at 5:03 pm to Hogwall Jackson
quote:got my dogecoin notifications set at 5cent intervals. Just last week I saw it at .40 and now at .25.
This is a blood bath. I am still holding everything. Going to buy the lows tomorrow.
Thought there would be some resistance built up goddamn! Going to buy a little at a time each week I guess til were riding again.
Posted on 2/2/25 at 5:42 pm to Art Blakey
quote:
It's not an opinion
It is, in fact, an opinion, but, as you say, no more discussion is necessary. We won't change each other's minds. I respect your opinion even if I don't agree with it. Posted on 2/2/25 at 7:40 pm to Who_Dat_Tiger
Whale games technically oversold when Total hit 3.3T sittin at 3.07T now. Below 3T tonight then something truly bad cometh and BTC going to 80 handle. Cant remember getting dumped on this hard. I love Crypto 
Posted on 2/2/25 at 7:44 pm to Hateradedrink
Tariffs throwing a wrench into the party unfortunately. Hopefully they are just a temporary thing because otherwise, big oooff
Posted on 2/2/25 at 7:45 pm to BottomlandBrew
quote:
It is, in fact, an opinion, but, as you say, no more discussion is necessary. We won't change each other's minds. I respect your opinion even if I don't agree with it.
We have different definitions of decentralized. Cheers.
Remember, Powell won’t be forced to act until the secondary market for treasuries goes no bid. If this sell off is orderly, say 2-3%/day on the S&P that could take a few weeks. Imo, Trump is prepared to let it bleed for a while.
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