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Post by selluwud on May 9, 2021 12:03:32 GMT
Picked up some Doge when eToro made it available, got in low .40's, the play on Elon's jawboning sounds interesting. Sell the news??? My stop losses kicked in with some small gains, but at least no loss. Elon confirmed it's a "hustle" which everyone already knew. Curious as to how it plays down the road.
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Post by JHam on May 10, 2021 3:22:34 GMT
Picked up some Doge when eToro made it available, got in low .40's, the play on Elon's jawboning sounds interesting. Sell the news??? My stop losses kicked in with some small gains, but at least no loss. Elon confirmed it's a "hustle" which everyone already knew. Curious as to how it plays down the road. Congrats again! It’s funny to see people on SNS trying to claim that Elon going on SNL somehow scared away Doge coin investors. No sillies, they knew weeks ahead that he was going on SNL and that alone was going to cause a buzz/run up around Doge. It’s not that he said something that scared people away. The whole plan was to dump at 11:30 est, lol.
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Post by JHam on May 10, 2021 3:24:40 GMT
ETH over $4,000. It’s about 1/3 the market cap of Bitcoin. I am obviously a fan of ETH but wondering how much higher in can go in this cycle. $8,000 would put it a $1T valuation. Insane to even say that number. Is it possible this cycle? Even if Bitcoin moves up with it?
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Post by biposter on May 10, 2021 7:49:49 GMT
Hey JHam, btw, you can use Uniswap. Pretty much every coin out there is available on Uniswap. First, you’ll need MetaMask. There’s both a browser extension and an app wallet for your phone. You can use either or both. Google “Uniswap” and be sure to NEVER click on the “Ad” (lots of phishing scams on those Ad websites!). Click only on the first actual search result. Same for MetaMask. But Uniswap is a decentralized exchange, so you’ll actually be holding onto your own coins in your MetaMask wallet. So be very careful how you store your seed phrase (which will be needed when you open your MetaMask account). You can check out YouTube for some tutorials.
Yeah, $ETH at a $1T m/c sounds crazy, but consider Ethereum the protocol as the base layer of the internet. All the smart contracts will be built on Ethereum (of course there are some competitors, too: $SOL, $DOT, the other zombie-chain “ETH killers,” etc.). Check out the DeFi tab on CoinGecko (https://www.coingecko.com/en/defi). The total m/c of all the DeFi tokens is already at $147B, and the TVL (“total value locked” -- the total amount of cold, hard cash currently locked into the DeFi protocols) is at $144B! And TradFi is starting to come around. Here’s Raoul Pal on this $ETH run:
And here’s a list of the best DeFi coins -- the blue chips:
I think all of these DeFi coins will 3-5x-bggrs over the next year. Over the next two years, maybe 10x-bggrs (or higher). They’re available on all the major U.S. crypto exchanges, or you can get them on Uniswap.
*EDIT (5/11):
So Tom Brady and Mark Zuckerberg are in. Maybe $FB then?
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Post by JHam on May 13, 2021 2:03:53 GMT
Imagine that you’ve accumulated your position in Bitcoin because you wanted to buy a Tesla. Then, Elon suddenly tweets out a message saying that they will no longer accept Bitcoin for purchases. Not only have you been blocked from buying a Tesla with the Bitcoin you just accumulated to buy it with, but now the value of Bitcoin has crashed. You would no longer be able to afford it even if you converted your coin to cash. What the hell is he thinking? How is this not an SEC violation? (Not to mention he is flat wrong about increasing use of fossil fuels).
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Post by biposter on May 13, 2021 8:20:17 GMT
Yeah, Elon rugged us lol! Technically, it’s true what he said. Bitcoin uses up a massive amount of energy -- about the same as a small developed nation lol. But China still accounts for ~60% of the total bitcoin mining capacity and much of that is cheap, dirty coal. Ex-China, most of the bitcoin mining is run on renewable energy -- solar, wind, hydro-electric, stranded natural gas/methane, etc. No doubting Elon’s brilliance and entrepreneurship. But what I don’t get is, didn’t he/Tesla do their homework? Did he just realize now that bitcoin uses a lot of energy lol? If anyone is concerned about bitcoin’s energy consumption, read the articles by Square, NYDIG, and ARK Invest that address this issue. Here’s one from Nic Carter to get started: medium.com/@nic__carter/noahbjectivity-on-bitcoin-mining-2052226310cb But why stop with bitcoin mining? The use of Xmas lights in Dec. in the U.S. uses as much energy as El Salvador does for one year. Ban Christmas lights! Frivolous and a waste! Clothes dryers use even more. Throw out the dryers! Back to clothes’ lines and wooden clips! How much energy is consumed watching (and producing/creating) Netflix and YouTube? Vain entertainment that dulls young kids’ minds! Out with the TVs! Save the environment! Anyway, though this FUD will probably spread over the next few weeks/months, it should be a good opportunity to address this matter head-on in the public square while everyone’s watching. The Square (and NYDIG) research report does an excellent job summarizing this issue, and as Jack Dorsey concludes: "We believe that cryptocurrency will eventually be powered completely by clean power, eliminating its carbon footprint and driving adoption of renewables globally.” For now, the good thing is that Ethereum will be moving to Proof-of-Stake in Dec., away from Proof-of-Work, and thus there will be no more $ETH mining and all that energy “waste.” $ETH is really entering its investment thesis sweet spot. Buy $ETH (and bitcoin, too)!
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Post by JHam on May 14, 2021 1:19:28 GMT
Yeah, Elon rugged us lol! Technically, it’s true what he said. Bitcoin uses up a massive amount of energy -- about the same as a small developed nation lol. But China still accounts for ~60% of the total bitcoin mining capacity and much of that is cheap, dirty coal. Ex-China, most of the bitcoin mining is run on renewable energy -- solar, wind, hydro-electric, stranded natural gas/methane, etc. No doubting Elon’s brilliance and entrepreneurship. But what I don’t get is, didn’t he/Tesla do their homework? Did he just realize now that bitcoin uses a lot of energy lol? If anyone is concerned about bitcoin’s energy consumption, read the articles by Square, NYDIG, and ARK Invest that address this issue. Here’s one from Nic Carter to get started: medium.com/@nic__carter/noahbjectivity-on-bitcoin-mining-2052226310cb But why stop with bitcoin mining? The use of Xmas lights in Dec. in the U.S. uses as much energy as El Salvador does for one year. Ban Christmas lights! Frivolous and a waste! Clothes dryers use even more. Throw out the dryers! Back to clothes’ lines and wooden clips! How much energy is consumed watching (and producing/creating) Netflix and YouTube? Vain entertainment that dulls young kids’ minds! Out with the TVs! Save the environment! Anyway, though this FUD will probably spread over the next few weeks/months, it should be a good opportunity to address this matter head-on in the public square while everyone’s watching. The Square (and NYDIG) research report does an excellent job summarizing this issue, and as Jack Dorsey concludes: "We believe that cryptocurrency will eventually be powered completely by clean power, eliminating its carbon footprint and driving adoption of renewables globally.” For now, the good thing is that Ethereum will be moving to Proof-of-Stake in Dec., away from Proof-of-Work, and thus there will be no more $ETH mining and all that energy “waste.” $ETH is really entering its investment thesis sweet spot. Buy $ETH (and bitcoin, too)! Yes, totally agree with all these points. I continue to add ETH. Was happy to take advantage of this dip into the $3s.
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Post by biposter on May 16, 2021 18:54:15 GMT
Elon’s tweet has definitely shifted the bitcoin narrative for the worse. So prob those five S&P 500 co. might hold off on their bitcoin purchases. So is this a busted thesis? If so, I think hedge funds/inst. investors would be getting ready to rush for the exits. But if anyone would know of this change in sentiment, it would be Raoul Pal, who is as connected as anyone. He’d hear the rumblings/rumors, and would probably dump himself. But that’s now what he’s saying:
So Raoul hasn’t sold, and he’s 100% allocated into crypto lol! He tweeted yesterday that his investor contacts are still trying to get in. But in his personal portfolio, he is now at 2:1 $ETH over $BTC (but may have been for some time). And from his past tweets, I think the other 20% is DeFi.
(One other potential risk, though maybe slight: Elon is getting pummelled by crypto twitter lol. To spite them, he dumps his BTC.)
And it seems that’s what all these asset managers have been doing.
Spencer Noon posted this yesterday. They don’t seem to be ready to market-sell their crypto position due to this narrative shift, but, rather, they’ve already been and seem to continue to be shifting their allocation overweight towards ETH (while circling overhead on DeFi).
Anyway, you have three huge upcoming catalysts for $ETH: (1) EIP-1559 in July (massive reduction in sell pressure); (2) L2s coming online this summer (significantly helping with scaling/high transaction costs, and dropping gas prices down to pennies); (3) ETH1 <> ETH2 merge, moving from PoW (mining) to PoS (staking), so a much “greener” narrative and no more energy-usage overhang. I never believed in the “flippening,” but I think ETH has a very good chance to overtake BTC in market cap. Maybe that’s why Raoul Pal has twice as much $ETH as he does $BTC.
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Post by JHam on May 18, 2021 5:28:20 GMT
Elon’s tweet has definitely shifted the bitcoin narrative for the worse. So prob those five S&P 500 co. might hold off on their bitcoin purchases. So is this a busted thesis? If so, I think hedge funds/inst. investors would be getting ready to rush for the exits. But if anyone would know of this change in sentiment, it would be Raoul Pal, who is as connected as anyone. He’d hear the rumblings/rumors, and would probably dump himself. But that’s now what he’s saying: So Raoul hasn’t sold, and he’s 100% allocated into crypto lol! He tweeted yesterday that his investor contacts are still trying to get in. But in his personal portfolio, he is now at 2:1 $ETH over $BTC (but may have been for some time). And from his past tweets, I think the other 20% is DeFi. (One other potential risk, though maybe slight: Elon is getting pummelled by crypto twitter lol. To spite them, he dumps his BTC.) And it seems that’s what all these asset managers have been doing. Spencer Noon posted this yesterday. They don’t seem to be ready to market-sell their crypto position due to this narrative shift, but, rather, they’ve already been and seem to continue to be shifting their allocation overweight towards ETH (while circling overhead on DeFi). Anyway, you have three huge upcoming catalysts for $ETH: (1) EIP-1559 in July (massive reduction in sell pressure); (2) L2s coming online this summer (significantly helping with scaling/high transaction costs, and dropping gas prices down to pennies); (3) ETH1 <> ETH2 merge, moving from PoW (mining) to PoS (staking), so a much “greener” narrative and no more energy-usage overhang. I never believed in the “flippening,” but I think ETH has a very good chance to overtake BTC in market cap. Maybe that’s why Raoul Pal has twice as much $ETH as he does $BTC. Great post! Thanks for all of this info. I am still very new to this crypto, but I am glad to see Raoul Pal confirm my sentiment that ETH is the better buy for now. I tripled my position last week and am now 80/20 ETH/BTC. I am hoping to get one more big buy before they take off again. I agree that ETH could eventually over take BTC in market cap. Vitalik is insistent that ETH 2.0 will be deflationary which, if true, will make those $100K-$4M numbers that some have projected seem a bit more possible. Here is some more big news for ETH from yesterday: www.bloomberg.com/news/articles/2021-05-17/bank-of-america-joins-paxos-blockchain-stock-settlement-networkBofA Joins Paxos Blockchain Stock-Settlement Network
Paxos runs on the ETH platform: www.paxos.com/why-does-paxos-standard-use-ethereum/Why does Paxos use Ethereum?
Ethereum is a decentralized blockchain-based ledger that supports smart contracts, and is the most widely-used digital-asset platform. Paxos stablecoins follow the ERC-20 protocol, which is a standard for smart contracts on the Ethereum blockchain. The ERC-20 standard specifies a set of standard functions to manage transactions and track account balances. Some of the advantages of Paxos ERC-20 tokens are listed below:
High utility
Seamless wallet support and exchange integration. Any provider that has implemented ERC-20 code can support the token on their platform An open network enables use-cases impossible on a closed network Maximum end-user trust
Users do not have to trust a given exchange to hold their token Reduced liquidity risk – each user can redeem from our regulated trust which publicly ensures they have enough cash on hand Please note: In order to send and receive PAX, BUSD or HUSD, customers must have an Ethereum wallet that accepts ERC-20 tokens.
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Post by biposter on May 18, 2021 7:45:01 GMT
Yeah, things really escalated later in the day between Elon and the bitcoiners, and bitcoin just kept tanking. But last night, Elon did confirm that Tesla has not sold their bitcoin position (except that small sale revealed on their last E/R). But the damage has been done. If you’re a public company, would you now want to publicly announce that you added bitcoin to your balance sheet lol? But bitcoin companies and influencers need to continue to get their side of this energy debate out there. In the meantime, ETH’s PoS will be a huge selling point.
Whoa, JHam, last time you said $30K ETH! Now you’re bringing up $100K and even $4M! Yeah, I don’t want to say anything higher than $10K-$20K right now, but I do think even $100K is possible lol. Now about that $4M lol…. But, yeah, some billion-dollar-plus crypto VCs/investment firms are publicly predicting a $25K PT after EIP-1559 (this summer) and the ETH2 merge, moving Ethereum to PoS (in Dec.).
Yeah, I think $BTC will be range-bound for at least another month or two. Day-to-day, ETH orbits BTC, but I think ETH will start to pull away in the next month or so. EIP-1559 (July 14th) is such a huge catalyst (kind of like a pivotal clinical trial data readout) that we should start to see a significant run-up in June. And just like with positive data results, ETH will have a massive pop post-EIP1559. With that code change, you’ll see a massive drop-off in sell pressure. Some ETH will be burned and a portion of the miner fees will be redirected to ETH stakers.
One thing to maybe also consider. Even during this $BTC and $ETH collapse over the past week bc of Elon, take a look at some of the DeFi blue chips. $AAVE has hit its ATH today at $650 (+49% in the past 7 days). $SNX is up 31% in past 7d; $SUSHI: +31% in 7d; $YFI: +17.5% in 7d. This is a good sign that we’re probably going to get another “DeFi summer” again. And last summer, DeFi’s gains were massive.
Yeah, right now I also have more ETH than BTC, and I’m only buying ETH/DeFi and not any BTC. But before we completely dismiss $BTC:
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Post by JHam on May 18, 2021 8:25:03 GMT
Yeah, things really escalated later in the day between Elon and the bitcoiners, and bitcoin just kept tanking. But last night, Elon did confirm that Tesla has not sold their bitcoin position (except that small sale revealed on their last E/R). But the damage has been done. If you’re a public company, would you now want to publicly announce that you added bitcoin to your balance sheet lol? But bitcoin companies and influencers need to continue to get their side of this energy debate out there. In the meantime, ETH’s PoS will be a huge selling point. Whoa, JHam, last time you said $30K ETH! Now you’re bringing up $100K and even $4M! Yeah, I don’t want to say anything higher than $10K-$20K right now, but I do think even $100K is possible lol. Now about that $4M lol…. But, yeah, some billion-dollar-plus crypto VCs/investment firms are publicly predicting a $25K PT after EIP-1559 (this summer) and the ETH2 merge, moving Ethereum to PoS (in Dec.). Yeah, I think $BTC will be range-bound for at least another month or two. Day-to-day, ETH orbits BTC, but I think ETH will start to pull away in the next month or so. EIP-1559 (July 14th) is such a huge catalyst (kind of like a pivotal clinical trial data readout) that we should start to see a significant run-up in June. And just like with positive data results, ETH will have a massive pop post-EIP1559. With that code change, you’ll see a massive drop-off in sell pressure. Some ETH will be burned and a portion of the miner fees will be redirected to ETH stakers. One thing to maybe also consider. Even during this $BTC and $ETH collapse over the past week bc of Elon, take a look at some of the DeFi blue chips. $AAVE has hit its ATH today at $650 (+49% in the past 7 days). $SNX is up 31% in past 7d; $SUSHI: +31% in 7d; $YFI: +17.5% in 7d. This is a good sign that we’re probably going to get another “DeFi summer” again. And last summer, DeFi’s gains were massive. Yeah, right now I also have more ETH than BTC, and I’m only buying ETH/DeFi and not any BTC. But before we completely dismiss $BTC: Haha! I was just regurgitating what I have heard some analysts speculate on in the longer term. Most recently was Megan Kaspar: "Institutional investment coming into Ethereum could put Ethereum up to about $100,000 in the next few years" (4:00) And by the way, I don't have my mind set on $100K. I am not thinking that far ahead at all. I still have the $8K-$10K number in mind as a solid projection for the next year+. I don't plan on selling anytime soon so it doesn't really matter anyway.
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Post by JHam on May 19, 2021 4:54:44 GMT
Massive dump happening all throughout crypto. I’d love to add more but want to wait to see where the bottom is.
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Post by biposter on May 19, 2021 8:00:30 GMT
Just brutal. This first tweet scared the crap out of me earlier this evening. If true, who knows how far it could fall. In 2017, there were six 30% corrections and two 40% corrections. $38.8K is 40% from the highs a few weeks ago. Some smart traders I follow are making their bottom calls. The lowest I see is $34K. Others think $38K was the bottom.
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Post by captsmith77 on May 19, 2021 12:59:35 GMT
cryptocurrencies getting crushed this morning, with Bitcoin down 20%+, and Etherium down 35%+ Doggycoin down 40%+
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Post by captsmith77 on May 19, 2021 13:27:24 GMT
market looks ugly this morning.... I'm heavily shorting one of the banks here. GLTA
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Post by selluwud on May 19, 2021 13:48:49 GMT
I jumped out, then jumped back in. Timing is not a smart thing to do, but you can't take losses if you don't have to. It seems to have turned back up for now??? did I speak too soon???
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Post by captsmith77 on May 19, 2021 14:03:58 GMT
Covered my bank short for a small profit.... lots of good looking deals out there.
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Post by JHam on May 19, 2021 14:41:11 GMT
Maybe it’s just because I am new to crypto, but I’m not really freaking out over this massacre. Actually I’m hoping it holds at these levels for a while so I can buy more. It’s not like all of the work going into Defi/NFTs has suddenly just stopped and is done forever. Each cycle has its own new unique swings. That said, you definitely have to have some stones to dabble in crypto. Years of experience of being down -70% or more with some biotech stocks has prepared me for moments like this
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Post by captsmith77 on May 19, 2021 18:29:55 GMT
Maybe it’s just because I am new to crypto, but I’m not really freaking out over this massacre. Actually I’m hoping it holds at these levels for a while so I can buy more. It’s not like all of the work going into Defi/NFTs has suddenly just stopped and is done forever. Each cycle has its own new unique swings. That said, you definitely have to have some stones to dabble in crypto. Years of experience of being down -70% or more with some biotech stocks has prepared me for moments like this I haven't bought any yet, but the primary platform a lot of people use and the one I was looking at utilizing, Coinbase, had issues today with the volume of trades. It's a concern, as I would want the flexibility to convert at anytime.
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Post by selluwud on May 19, 2021 19:22:16 GMT
Maybe it’s just because I am new to crypto, but I’m not really freaking out over this massacre. Actually I’m hoping it holds at these levels for a while so I can buy more. It’s not like all of the work going into Defi/NFTs has suddenly just stopped and is done forever. Each cycle has its own new unique swings. That said, you definitely have to have some stones to dabble in crypto. Years of experience of being down -70% or more with some biotech stocks has prepared me for moments like this I haven't bought any yet, but the primary platform a lot of people use and the one I was looking at utilizing, Coinbase, had issues today with the volume of trades. It's a concern, as I would want the flexibility to convert at anytime. I'm using eToro, it's easy for beginners.....enough said in my case.
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