Bitcoin and other forms of digital currency

[Ed Mack]

17 minutes ago, spener90 said:

Can we get a mod in here? ☝️

 

Please delete mine too.

Taken care of.  

[Bat man]

Wow this thread is dead. 

[Simon74]

the thread might be dead but while my Lego sales are slowing down I have learned more and more about cryptocurrencies and found they take less space... they are way more volatile but for now they will do for me 🙂

wondering if @Legojona  would not mind chiming in with his view of the crypto markets

Edited April 5, 2020 by Simon74

[HandyHand]

Anyone here still active in the Bitcoin (or other cryptocurriencies) ? It's interesting to see how Bitcoin has been going up steadily again over the past months.

[blue leader]

Yep. Here's a recent favorite interview...CEOs are starting to move cash reserves to BTC as fiats get destroyed. 

 

[blue leader]

Also, check out Chainlink. 

 

General comment on the market cycles: in 2016/17 when btc started it's parabolic run, we knew it was all retail driven. This cycle will be led by institutions. Worth some research. 

[JOEBRICK376]

6 hours ago, HandyHand said:

Anyone here still active in the Bitcoin (or other cryptocurriencies) ? It's interesting to see how Bitcoin has been going up steadily again over the past months.

The original poster of this thread is still very active in Crypto 

[sodoubleoggood]

I've basically stopped chasing ALTs in general and have steadily been adding to my ETH / BTC stack.  Originally I was pretty heavy on Chainlink when it fluctuated between .25-.54 and decided to just hold super long.  If Link hits $20 again I may turn a little of that in BTC and buy back when it drops to $15, but right now I'm just holding.  I learned a few years ago it never works chasing ALTs.  I believe in the long run and given how many financial banks and institutions are starting to invest, I see that as validation that this is a long-term store of wealth.  

BTC / ETH / LINK / (and maybe a little XRP. but tbh not so sure I believe in that as long as I do others)

I use Brave web browser and enjoy earning BAT, but I feel like until it has more of a use case it won't generally return nearly as much as the three i mentioned.

If those are looking for some free alts, I would suggest using Coinbase Earn to get some crypto for free provided you watch some videos and answer questions.  I don't use Coinbase for buys but tbh it's a great on ramp for those who have no idea where to start or just want a little bit to hold.  I prefer Gemini.  

 

Edited November 2, 2020 by sodoubleoggood

[HandyHand]

I saw the signs on the wall over the past months and was monitoring the developments. Too bad I didn't buy in on Bitcoin last March when it was at the lowest this year. But I think we haven't seen anything yet...

[sodoubleoggood]

3 minutes ago, HandyHand said:

I saw the signs on the wall over the past months and was monitoring the developments. Too bad I didn't buy in on Bitcoin last March when it was at the lowest this year. But I think we haven't seen anything yet...

I feel like most people that know a ton more than I do, seem to DCA (dollar cost average) along the way.  I think it's a smart way to look at it.  I'm thinking super long, much like some of these big fish lego sellers on here do.  

When ETH 2.0 finally happens, I'd expect a nice 20% jump given how many people have been waiting for it and it's potential.  ETHs gas was getting killed the  past few months due to Defi.  Seems to be getting back to what it once was.

Edited November 2, 2020 by sodoubleoggood

[blue leader]

2 hours ago, sodoubleoggood said:

 

If those are looking for some free alts, I would suggest using Coinbase Earn to get some crypto for free provided you watch some videos and answer questions.  I don't use Coinbase for buys but tbh it's a great on ramp for those who have no idea where to start or just want a little bit to hold.  I prefer Gemini.  

 

I second this...you can earn over $200 free on coinbase by just learning about crypto. If you feel like buying at least $100, use sodoubleoggood (if they'd like to post their link) or my referral and get $10 free. https://www.coinbase.com/join/winkle_0 (I don't care if you use this or not, just throwing it out there)

 

I haven't used Gemini but have used Kraken. Lower fees than coinbase. 

 

For research, I'd recommend picking up The Bitcoin Standard by Saifedean Ammous. Fantastic book. Here's a great intro to BTC from Pomp: 

 

[sodoubleoggood]

Since I know you're time is valuable, I put this together for everyone here. 

I added the crypto you would earn along with the answers so you can accrue them quickly! https://www.coinbase.com/rewards 

I also added my referral links at the bottom to make things easier for those interested.  You can do pretty well without having to spend anything. I know ya'll love free money

Earn $6 in ALGO: (ALGO)

1. By being scalable, secure, and decentralized

2. A randomly selected ALGO token

3. Algorand Standard Asset (ASA)

Earn $6 Orchid (OXT)

1. A peer to peer privacy tool.

2. OXT token, as well as the Orchid app and a Web3 wallet.

3. Multihop configurations between bandwidth providers.

Earn $9 Compound (COMP) up to $59: (my personal favorite out of the bunch I listed)

https://coinbase.com/earn/comp/invite/m2wzpdhb (only four invites left)

1. Earn interest on crypto

2. Supply crypto asset as collateral

3. COMP token holders

Earn $10 in Stellar (XLM) up to $50 if referrals are used:

https://coinbase.com/earn/xlm/invite/1fhvmgx9 (only two invites left)

 

1. A decentralized protocol that unites the world financial infrastrucutre.

2. Facilitating low cost, universal payments.

3. Transactions are fast, inexpensive and global.

4. To issue, exchange and transfer tokens quickly and efficiently

5. It relies on the cooperation of trusted nodes to confirm transactions.

Earn $10 in EOS up to $50 total if referrals are used:

https://coinbase.com/earn/eos/invite/0qcgnzjs (only three invites left)

 

1. A blockchain protocol for fast, scalable applications

2. Delegated proof of stake

3. Fast, free transfers

4. Stake EOS tokens

5. Upgradeable smart contracts

MakerDAO (MKR) 

1. MKR and DAI

2. MKR holders

3. A Crypto Wallet and Crypto Collateral

CELO (CGLD) 

1. By making crypto accessible on mobile phones

2. Staking, governance

3. Using the Valora mobile app

If you guys are really interested, if you use this referral for regular BTC purchases you and I each get $10 if you use this referral.  https://www.coinbase.com/join/grodenaugh 

Enjoy!

[blue leader]

So BTC not doing too bad ..

[sodoubleoggood]

Man what a week it's been for crypto! Even my Ripple bags are pumping!  Up 55% just this week alone.  With little to no media hype this time, I think this is just scratching the surface.  I'm really looking forward to the 2-3 year potential as big banks continue to gobble up large stacks of crypto.  Don't sleep on the other alt coins in the top 10 too btw.  I expect those who are new to the game will try their luck with cheaper alt coins expecting bitcoin-esque gains so everything will eventually pump (imo) ESP chainlink!  I hope those folks who are window watching took advantage of utilizing coinbase earn with the question answers I supplied up top, if you redeemed when I posted I believe that alone is up about 16-18%.   This is one of those posts I think a few years from now we'll reference and say "damn I should have have got in then..."  happy saturday brickpickers!! (it is for me!!)

[sodoubleoggood]

For those who are still window watching unsure to get in on the crypto currency rush, Ethereum is looking prime for a pretty big pump in the upcoming few weeks.  When Ethereum 2.0 launches, I'd expect quite a nice increase as this has been years in the making.  (The recent surge the past few weeks could certainly be attributed to it's pretty nice increase (up 30% in the last 7 days).  I attached an article that discusses the target date and an update regarding its status.  (Basically once enough people have staked, the main net will launch)  Right now it's at 60%.   

Also, in other news Ripple is closing in on a 100% increase in the last 7 days.  Things are going bonkers right now, and this market surge is eerily similar to the one in 2017 (especially given the timing).  The only difference this time is that it's institutional money that's driving it (paypal, greyscale, etc)  Within a year or so options should be available on Venmo as well.  I do think the market should correct a little bit post Q4 earnings reports / early 2021, but I think the sky is still the limit in the near-long term.  Be safe with trading but if you can, simply acquire and dollar-cost-average.  

https://cryptobriefing.com/ethereum-2-0-deposits-hit-60-launch-looms/

[Brystheguy]

Ha, reading this is like making investment choices with a broker who speaks in a foreign language! If you/they want people to invest in this, it has to be more user friendly. I might as well be investing in doohickies and whatchamacallits as the words are interchangeable with what is being offered. Upside looks good but there are so many unknowns from a simple investor perspective.

[blue leader]

It basically comes down to learning about not only a new investment class, but also the many paths within. If I were starting, I would research BTC, ETH, and Chainlink. There's over 7000 cryptos, most will fail. Learn about the blue chips and if your brain isn't fried, move on from there. Looking at an adoption bell curve, we are still in the early adoptor section (first 2.5% in). This will become more user friendly over time, with an opportunity cost that is ever increasing if you wait for it to be mainstream easy. (It's already becoming easier and more user friendly by the day...see how easy it is to buy/sell crypto on your paypal, venmo, cashapp...) 

 

If you choose to take this journey, be prepared to become obsessed. lol

 

BTW: 2021 is going to be insane.

Edited November 24, 2020 by blue leader

[blue leader]

👀

[elmaslıefendi]

BTC is doing amazing. Probably still didn't take off, I suspect 2021 will be an unbelievably strong year for BTC, which is both an opportunity & something to seriously worry about, as someone wants digital assets to replace gold, silver, platinum etc.

I predict we'll kick ourselves if we're not getting in now. Kind of a high risk/high reward game. Probably more on the high reward side though, as big players, billionaire investors, corporations & banks are getting into it right now. 

I still believe this whole operation is a strategy to let people warm up to digital currencies, to eliminate cash, install a digital dollar/euro/yen & take away the last piece of freedom we have, which is money in physical form. Pure transparency incoming.

[sodoubleoggood]

This will be one of those threads that most on here will look back on in regret in years time.  It's not too late though friends!  Still super early in the game and here's a little heads up.  When Coinbase finally lists their IPO in the near future, it's certainly something you'll want to jump in.  (Disclosure, I preferably use Gemini right now, but Coinbase is one of the easier on-ramps for those new to crypto, so I expect this to be a huge stock gainer immediately upon listing.) 

Ethereum will certainly continue to grow with BTC, especially with CME announcing Ethereum futures contracts.  ETH also has better use case as opposed to the store of wealth in BTC.  Think of it as the silver to BTCs gold... My personal opinion is that as BTC gets more credibility and more people start to talk about, they will look at the crypto charts and see the others in the top 10 as opportunities for BTCesque gains.  It will be very difficult to own 1 BTC, but 1 ETH is still within reach for those looking to invest with some expendable cash.  Honestly though, you can't go wrong with BTC, ETH, Link, and others such as XRP and XLM.  If you've never invested in crypto though, you need an iron stomach to deal with drastic dips, so be strong and always hold because it bounces back inevitably.  

[Brystheguy]

21 hours ago, sodoubleoggood said:

This will be one of those threads that most on here will look back on in regret in years time.  It's not too late though friends!  Still super early in the game and here's a little heads up.  When Coinbase finally lists their IPO in the near future, it's certainly something you'll want to jump in.  (Disclosure, I preferably use Gemini right now, but Coinbase is one of the easier on-ramps for those new to crypto, so I expect this to be a huge stock gainer immediately upon listing.) 

 

As someone that might buy a few things, why do you prefer Gemini over Coinbase? I am an investor that keeps things invested for the long haul, so don't do a lot of trading activities. What makes one better than the other? Thanks.

[sodoubleoggood]

1 hour ago, Brystheguy said:

As someone that might buy a few things, why do you prefer Gemini over Coinbase? I am an investor that keeps things invested for the long haul, so don't do a lot of trading activities. What makes one better than the other? Thanks.

Personally I prefer the Gemini GUI (it's more geared for those who look at selling charts and you can see the order books a bit better and time purchases a bit more efficiently.  I will say this though, the interface is more confusing for those who are new to it and will probably overwhelm you) Coinbase is visually much easier to make transactions. 

I've been a Coinbase member for years, and don't have any purchase limits (which may be in tact for newer customers, I'm not quite sure what the limits are if you join now).  The biggest reason for me on why I don't use Coinbase to buy BTC is because when it's on a huge run and making large moves on a specific day (i.e let's say it's up 12% for the day and volume is booming due to some landmark news or announcement) many times Coinbase can't take the server load and will be inaccessible when you need it most.  Gemini is more consistent with uptime and I feel handles their infrastructure better.  I will say that that if Coinbase issues an IPO, they will have a fiduciary responsible to invest in their infrastructure, so this issue may go away. 

Coinbase does have a different trading platform for more experienced users called Coinbase Pro, which replicates the GUI of Gemini, but honestly I've learned in the past years to not day trade crypto as it can be a super pain in the ass to deal with when it's time to do taxes and avoid it in general.  I'm in it for the long haul now and will buy, and no longer move my crypto around to make my stack larger.  That was a valuable lesson learned in 2018/2019.  

Best of luck of to you and it's awesome you're showing interest.  It's not too late to dip your toes in the pool and invest.  It's an emerging market that has tons of upside.

[KvHulk]

So... XRP down 30%... Anyone going all in?

[joneyyy1981]

1 minute ago, KvHulk said:

So... XRP down 30%... Anyone going all in?

brave. go in at 0

[joneyyy1981]

On 12/19/2020 at 3:25 AM, sodoubleoggood said:

Tyou can't go wrong with BTC, ETH, Link, and others such as XRP 

this ages well