Bitcoin and other forms of digital currency

[elmaslıefendi]

The only question is: what will the US government or other countries do about this unregulated payment system?

If Bitcoin's market cap really explodes & jumps from 360 billion to let's say 2-3 trillion... that's a serious threat to the Dollar & the €uro. Not the size, 2 trillion is 'nothing', but the loss of faith in currencies is important. If everyone is fleeing into Bitcoin & Gold as an inflation hedge, some people won't like that... A digital limited Dollar may be a possible response to win back the trust of the people after this whole monetary system collapses.

Also: Wall Street will eventually come up with 'bitcoin backed' derivatives & they'll for sure manipulate the price by pumping & dumping stocks, making themselves a fortune, just like with every other asset. 

I'm bullish on btc too, I think we'll see much higher prices by this time next year & it may even be one of the biggest opportunities in our lifetime, but you can't ignore alternative scenarios.

[joneyyy1981]

3 minutes ago, elmaslıefendi said:

The only question is: what will the US government or other countries do about this unregulated payment system?

If Bitcoin's market cap really explodes & jumps from 360 billion to let's say 2-3 trillion... that's a serious threat to the Dollar & the €uro. Not the size, 2 trillion is 'nothing', but the loss of faith in currencies is important. If everyone is fleeing into Bitcoin & Gold as an inflation hedge, some people won't like that... A digital limited Dollar may be a possible response to win back the trust of the people after this whole monetary system collapses.

Also: Wall Street will eventually come up with 'bitcoin backed' derivatives & they'll for sure manipulate the price by pumping & dumping stocks, making themselves a fortune, just like with every other asset. 

I'm bullish on btc too, I think we'll see much higher prices by this time next year & it may even be one of the biggest opportunities in our lifetime, but you can't ignore alternative scenarios.

iv said it for years, all you need is Bitcoin & lego.

[elmaslıefendi]

1 minute ago, joneyyy1981 said:

iv said it for years, all you need is Bitcoin & lego.

Not quite. You can't pay with Bitcoin & LEGO. Both are still speculative assets, not money. 

Gold remains money for now, just like for the past 6000 years. Send me a message when central banks trade their gold for Bitcoin & LEGO. 

[joneyyy1981]

2 minutes ago, elmaslıefendi said:

Not quite. You can't pay with Bitcoin & LEGO. Both are still speculative assets, not money. 

Gold remains money for now, just like for the past 6000 years. Send me a message when central banks trade their gold for Bitcoin & LEGO. 

well if you have a conbase card, you can buy anything with bitcoin. 

[spener90]

14 minutes ago, joneyyy1981 said:

iv said it for years, all you need is Bitcoin & lego.

As someone who has played in the crypto markets previously, they are both terrifying and also quite exciting. I would never advise it as a financial decision though.

I'm more than capable of being wrong here, and I actually think there is a fair chance that the future is quite bright for Bitcoin and certain other Crypto. Most people when investing only seem to think about what happens if everything goes well, kind of like playing the lottery. Not to be a pessimist, in fact I am quite the opposite in terms of the future, but it never hurts to check your blind spots and consider the risks involved.

My sister works with a guy who is entirely invested in Bitcoin, with the idea it will let him retire in 5 years.

[bigboy61]

On 11/2/2020 at 3:53 AM, 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.

Yep! I am. Sold off most of my lego collection, my Jabba's Sail Barge, and my Acorns investment to move most of it to Crypto. So far, it's been a pretty good investment. Not every coin is doing great, but my biggest holding (ETH) is doing solid. 

 

I'm also holding coins from the last bull run. I'm almost in the green on some ETH I bought last bull run. It's been quite a ride! 

[sodoubleoggood]

Amazing weekend for crypto.  The marketcap is closing in on 1 trillion.... Ethereum up 25% today alone.  Finally starting to correct past the .0275 btc ratio it usually holds!  Exciting times.

[blue leader]

At this rate the wife will allow me to buy the usc falcon come September! 🤣

[spener90]

Anyone want to bring up the prospects of a (another) crypto bubble?

[Brystheguy]

13 hours ago, sodoubleoggood said:

Amazing weekend for crypto.  The marketcap is closing in on 1 trillion.... Ethereum up 25% today alone.  Finally starting to correct past the .0275 btc ratio it usually holds!  Exciting times.

I sold my one Ethereum I bought in the middle of December.  Not a bad return for sitting for 15-ish days!  Now what to do with all that XRP I bought...

Edited January 4, 2021 by Brystheguy

[blue leader]

18 hours ago, spener90 said:

Anyone want to bring up the prospects of a (another) crypto bubble?

Sure. The halving effect is in full swing. (Explanation in attachment)

Last cycle there were multiple 30-40% corrections on the way from  $200 to $20k. Entirely expected we should correct at any point. One major difference this cycle is it's being led by institutional investment and major corporations converting their treasuries into bitcoin. This may dampen volatility as dips are bought. What was once extremely speculative is now being used as a store of value for major institutions. 

[spener90]

On 1/4/2021 at 9:19 AM, blue leader said:

Sure. The halving effect is in full swing. (Explanation in attachment)

Last cycle there were multiple 30-40% corrections on the way from  $200 to $20k. Entirely expected we should correct at any point. One major difference this cycle is it's being led by institutional investment and major corporations converting their treasuries into bitcoin. This may dampen volatility as dips are bought. What was once extremely speculative is now being used as a store of value for major institutions. 

This is interesting and I largely agree with it. Thanks for the chart!

[elmaslıefendi]

Sure, a correction will come. But I doubt it will reach 25k before the whales buy it all up again.

Edited January 6, 2021 by elmaslıefendi

[ajconway85]

Hi guys, just wondering if anyone is holding any alt coins at present. Personally I have my hand in DOT, ADA, ETH, LINK & GRT. Any others which you would give consideration????

[joneyyy1981]

17 minutes ago, ajconway85 said:

Hi guys, just wondering if anyone is holding any alt coins at present. Personally I have my hand in DOT, ADA, ETH, LINK & GRT. Any others which you would give consideration????

$srm

[ajconway85]

2 hours ago, joneyyy1981 said:

$srm

Cheers fella. I’ll be honest, it’s not one which I have heard of but like what I have read so far. Anything that promotes less fees and faster processing surely has some legs 

[bigboy61]

6 hours ago, ajconway85 said:

Hi guys, just wondering if anyone is holding any alt coins at present. Personally I have my hand in DOT, ADA, ETH, LINK & GRT. Any others which you would give consideration????

I'm holding mainly alts. ETH, Tezos, Stripe, Link, ADA, ATOM, Secret, Algorand, Waves, LION, NEO to name most of them. I haven't invested a whole lot in most of those though. I have some others that are stuck on Binance that I have given up on since I can't access Binance anymore.

[BrickSamurai]

I've read coinbase, gemini, kraken and others crypto trading platforms. Anyone have any others they've used and like?

Even paypal is now in the game with offering crypto trading.

Thanks

[BillyBricks]

2 hours ago, BrickSamurai said:

I've read coinbase, gemini, kraken and others crypto trading platforms. Anyone have any others they've used and like?

Even paypal is now in the game with offering crypto trading.

Thanks

If you go with Coinbase, make sure you also set up Coinbase Pro (also free). Fees on Coinbase are more than on the Pro version.

[zaphoid]

seems I picked a bad week to get into crypto

[exracer327]

Anyone know which platform in the USA to use for purchasing Theta?  I can't seem to find one that supports it.  I found a wallet that supports it, but not a platform to buy it.  Then again, it could just be me messing it up.

[sodoubleoggood]

1 hour ago, zaphoid said:

seems I picked a bad week to get into crypto

That means in the long run, you picked a good week to get into crypto

[LegoBro]

OMI it's the future of collecting fellas. Only so much stuff you can put in that man cave. May not catch on fire this cycle, but I think it's inevitable. 

[House Schubert]

 When you say 0MI, do you mean the Jamaican rapper, or the healthcare company?

[LegoBro]

27 minutes ago, House Schubert said:

 When you say 0MI, do you mean the Jamaican rapper, or the healthcare company?

Lol it's the ecomi coin. They currently have a beta app called veve. It deals with NFTs. It's the new card collecting similar to top shots. Very cool stuff happening in the field of collecting.