Page 164 of 640 FirstFirst ... 159 160 161 162 163 164 165 166 167 168 169 ... LastLast
Results 4,076 to 4,100 of 15979
  1. #4076
    Join Date
    Apr 2008
    Location
    Treading Water
    Posts
    6,683
    Quote Originally Posted by Shaaarrrp View Post
    I think it would be pretty difficult to find many investors who ever buy BTC or ETH because of some logic beyond recent price action.
    Nail, meet Head.


    Sent from my iPhone using TGR Forums
    However many are in a shit ton.

  2. #4077
    Join Date
    Dec 2008
    Location
    PDX
    Posts
    4,754
    Quote Originally Posted by MakersTeleMark View Post
    ETC is the OG shitcoin.

    WTF up with gas fees these days? Shitcoiners clogging the network is.
    I think this explains it. It's the DOGE knock off Shiba Inu coin.



    Sent from my Pixel 4 XL using Tapatalk

  3. #4078
    Join Date
    Aug 2016
    Posts
    322
    I consider Doge and Ethereum Classic somewhat different. Doge to me, feels much more authentic and worth a consideration:

    If you dive into Greyscale ETC Trust, I believe this is simply a fraudaulent layer of investing in a useless protocol. As far as I can tell there is 0 real development on ETC. There is no clear logic or strategy as to why it has value. A few say it is a great processing system while other major players say it should be like bitcoin and it does not need to have any processing uniqueness. They believe because ETC is more original than ETH, that it should be more trusted-like BTC. That defies logic. There are arguments regular ETH will become too expensive to mine at some point and everything will convert to ETC but that also stretches belief.

    Doge has crowdfunded the Jamaican Bobsled Team and other groups. I see no reason why someone in the right position couldn't monetize it and get a shitton of people to buy in to support their favorite charity or something. Obviously all the memes and celeb endorsements are worth looking at with contempt but it wouldn't shock me if it becomes the standard of something popular culture champions. That said, I am not entirely familiar w tokenomics and infinite supply but I could def see how these run for a while with continued popular pressure.

    Ultimately, I do not believe the market is anywhere near educated enough to recognize Ethereum from Ethereum Classic so in many ways, all coins will rise and fall a shitton.
    Last edited by Shaaarrrp; 05-11-2021 at 09:09 PM.

  4. #4079
    Join Date
    Dec 2008
    Location
    PDX
    Posts
    4,754
    Quote Originally Posted by MultiVerse View Post
    Either reading comprehension is a problem for stalefish or he/she purposely misrepresents arguments.

    Once again nothing was said about BTC, ETH going to zero. The money 'moving on' refers to valuations i.e. the crowd, not 'true believers' abandoning crypto.
    Uh, I'm male and you recharacterized your (poor) argument after you wrote it.

    Quote Originally Posted by MultiVerse View Post
    A few months ago the average crypto account size on the exchanges was somewhere around $1200, roughly the same size as a stimulus check. There are also millions of unemployed workers in low pay service sector jobs earning more from unemployment than they were with their old jobs. That's a lot of young people with some money to spend, no fear of Covid so no need to hold cash, and time on their hands.

    Meanwhile the Fed is trying to hit the accelerator and the brakes at the same time. None of this is sustainable. After the summer of 2021 people will have go to go back to their crappy jobs, supply chains will recover, and growth will slow (hopefully not too soon), and the Fed will either control inflation or it won't. Either way the Fed sets the price level.
    You just don't get it. You get the part about the Fed's behavior being unsustainable, but I don't think you understand monetary history or hard money. The Fed is out of ammo to control inflation. If they raise interest rates it will destroy many companies that are only "successful" due to the free-money environment we're living in. Yield curve control is its own can of worms.

    Quote Originally Posted by MultiVerse View Post
    ^ Not just the environment or transaction speeds, also the economy and national security.
    Even bitcoiner diehards are now making a similar argument as mine that the world is moving away from bitcoin in terms of mindshare. Markets haven't quite caught up to the fact bitcoin is version 1.0 to ETHs, ADAs, etc., version 2.0. The analogy bitcoiners use is bitcoin is email while ETH is the web. Because ETH and others are more dynamic they, not bitcoin, are more likely to usher in web 3.0.
    You know what's not good for national security, or the environment? Spending approximately a trillion dollars a year to prop up the petro dollar and enriching the military industrial complex, while simultaneously ignoring our citizens' health and nation's infrastructure.

    Also, BTC's "1.0" characteristic is a feature, not a bug. For something that could potentially largely replace gold, security is paramount and changes need to happen slowly after very well-vetted review. Do you know even know why Ethereum classic exists? It's because an Ethereum smart contract was hacked for about 300 million dollars. I own ETH and think it has great promise, but the develop fast and break things strategy is not great for security. Simply put, BTC is THE store of value coin. There are other coins competing for smart contract market share, but BTC has no real peer as a SOV.

  5. #4080
    Join Date
    Nov 2008
    Location
    Edge of the Great Basin
    Posts
    5,536
    lol, a handful of bitcoin whale autocrats are going to do a better job controlling world's reserve currency than democratic societies. Of course it will never come to that but no matter history is replete with examples of feudal lords treating peasants with the utmost kindness and respect. /s


    As far as understanding monetary history or hard money, I've already gone back and forth with Bromontane' (or whatever he's calling himself these days) and even though he was more knowledgeable and more capable on the subject than simply repeating talking points and memes, none of his arguments really held up.

  6. #4081
    Join Date
    Dec 2005
    Posts
    11,145

  7. #4082
    Join Date
    Jun 2009
    Location
    Matchbox 20
    Posts
    2,313
    Doge still seems to me to be a much better hedge against inflation than Bitcoin. And a much better store of value too.
    Do you think the fed should consider the Dogecoin Standard?
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  8. #4083
    Join Date
    Nov 2008
    Location
    Edge of the Great Basin
    Posts
    5,536
    What about SHIBA INU (SHIB) now with an $11B market cap? Crypto folks have to at least consider the possibility that NFTs & Doge shows success isn't necessarily determined by store of value or technical capabilities or wherever but instead by how fun or weird or shocking a coin is. Entertainment and story is what matters.

  9. #4084
    Join Date
    Nov 2002
    Location
    Cloud City
    Posts
    8,768
    You should ask the technoking
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  10. #4085
    Join Date
    Aug 2016
    Posts
    322
    I believe Doge has an unlimited supply so it's not a very good hedge against inflation compared to something already more scarce that has no choice but to stop being created.

  11. #4086
    Join Date
    Aug 2016
    Posts
    322
    Even though there are some clear differences from 2017, this market still feels tremendously small and just as naïve. New investors with possibly even more $$$ than 2017 adopters still largely have 0 interest in learning tech or the differences between these coins and protocols. The narrative is this idiotic Berkshire Hathaway message that ETH and BTC are trying to be the same thing, when that could not be more of a lie.

    When the above, ETC and Doge is true, I can't help but get the impression we are still very early as investors. At some point the shit will need to be separated from the gold and we will have a different cycle, but that's hardly happening now. You definitely see some benefits of great ideas like staking/ada but that is not the norm or main driver of this action. Even most people who own ADA are probably too lazy or don't understand how to take 10 minutes to stake.

    Is anyone more familiar with the 90/00s investment waves? I feel like it's usually described as one huge bubble but there had to have been multiple waves that could possibly tell us something.

    Ultimately I get the impression that the crypto powers that be are running the same fkn playbook on us because there's so much new money that people can't help but make the same mistakes. Ultimately, some late adopter will find BTC more attractive at 100K than they did at 65K just like I found it easier to buy at 15K than 3K in 2017. And they will feel more need to buy as the price goes up. People cannot help themselves.

  12. #4087
    Join Date
    Nov 2002
    Location
    Cloud City
    Posts
    8,768
    Quote Originally Posted by Shaaarrrp View Post
    I believe Doge has an unlimited supply so it's not a very good hedge against inflation compared to something already more scarce that has no choice but to stop being created.
    Your other, long, post is a nice and even mostly "consensus" viewpoint in the space. I liked it.

    I think you mentioned the summer of 2017 in there? I've been studying btc price action during that time and I wonder if we are having similar behavior. You can see a long sideways period and then a fat wick down. I have buy orders between 40-47k for that sort of event. But some people are saying that will break the weekly average support and put us out of a bull run. What do you think about that? Personally I don't even care if we have long sideways/down, remember the early runup we had in 2019 - BTC does what it wants!

    edit, here's a chart comparing now with summer 2017:
    Click image for larger version. 

Name:	btc.jpeg 
Views:	39 
Size:	96.9 KB 
ID:	374324
    Last edited by shera; 05-12-2021 at 08:45 AM.
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  13. #4088
    Join Date
    Nov 2002
    Location
    Cloud City
    Posts
    8,768
    As far as Doge and NFTs and even defi with eth fees through the roof, I'm not getting distracted and blowing this way and that with the wind. There are like 9000 altcoins and I don't have time in the day for it. Also I went through 2018 and the whitepaper scams. I need to see a real product with a real use case and a moat/first mover advantage and of course liquidity. BTC, ETH, and LINK is all I'm really bothering with. It took me quite a while to understand the value of LINK.
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  14. #4089
    Join Date
    Nov 2008
    Location
    Edge of the Great Basin
    Posts
    5,536
    Quote Originally Posted by Shaaarrrp View Post
    I believe Doge has an unlimited supply so it's not a very good hedge against inflation compared to something already more scarce that has no choice but to stop being created.
    Scarcity is a two way street. Something that's censorship resistant and a better alternative to hyperinflation even if it's volatile has a good value proposition. As a practical matter however such a system can’t really survive in that niche alone because it needs a huge transaction volume to endure.

  15. #4090
    Join Date
    Aug 2016
    Posts
    322
    Quote Originally Posted by MultiVerse View Post
    Scarcity is a two way street. Something that's censorship resistant and a better alternative to hyperinflation even if it's volatile has a good value proposition. As a practical matter however such a system can’t really survive in that niche alone because it needs a huge transaction volume to endure.
    https://www.youtube.com/watch?v=dKp3Hx4SFV0

    I think Michael Saylor makes a good argument for something like Bitcoin being adopted as extremely long term wealth preservation/storage of assets.

  16. #4091
    Join Date
    Aug 2016
    Posts
    322
    Quote Originally Posted by shera View Post
    Your other, long, post is a nice and even mostly "consensus" viewpoint in the space. I liked it.

    I think you mentioned the summer of 2017 in there? I've been studying btc price action during that time and I wonder if we are having similar behavior. You can see a long sideways period and then a fat wick down. I have buy orders between 40-47k for that sort of event. But some people are saying that will break the weekly average support and put us out of a bull run. What do you think about that? Personally I don't even care if we have long sideways/down, remember the early runup we had in 2019 - BTC does what it wants!
    Thanks! It is hard to say. In many ways, I have my eye more on the ETH-BTC chart than anything. If my idea about the flippening being an essential part of the cycle is correct, something like the following would occur:

    ETH continues it's upward ascension, likely in price and ETH-BTC value. At point when the ETH-BTC value is inflated, BTC will pickup some more steam and they will be more equally competing. Money will be pouring into both because of the perceived ETH flip and competitive buying.

    Soon after-possibly with both at all time highs-both take a long break or much more gradual climb. The prices you mention would not shock me because crypto is so fkn volatile. That said, I'm not sure the greed would allow it to dive too far down for too long since so many crazedriven altcoins require BTC or ETH to buy or move thru the space.

    I keep having to remind myself that we COULD be in the Dec/Jan part of the last cycle. But then I look at the total market cap, the lack of knowledge out there and the belief there is a ton of new investor money on the cusp and feel so bullish. The last stimulus was more the entire crypto market cap.

  17. #4092
    Join Date
    Nov 2008
    Location
    Edge of the Great Basin
    Posts
    5,536
    Your video misses the point. In order for BTC to last for centuries or millennia as Michael Saylor claims the network has to maintain its hashrate. Previous discussion here, here, and here.

    You can't ever let the hashrate stop with BTC. If you're talking about centuries or millennia or longer then gold is an infinitely more efficient store of value because once it's mined, unlike BTC, it no longer requires additional mining to survive.

  18. #4093
    Join Date
    Aug 2016
    Posts
    322
    Quote Originally Posted by MultiVerse View Post
    Your video misses the point. In order for BTC to last for centuries or millennia as Michael Saylor claims the network has to maintain its hashrate. Previous discussion here, here, and here.

    You can't ever let the hashrate stop with BTC. If you're talking about centuries or millennia or longer then gold mining is an infinitely more efficient store of value because once it's mined, unlike BTC, it no longer requires additional mining to survive. You can't ever let the hashrate stop with BTC.
    I will need to do more investigation on the explanations for the BTC end game processing support system. I can't help but wonder if you watched the entire thing since you replied before that would even be possible and there's even a part 2.

    Even though I am in technologies such as Hashgraph because I believe in them, it seems like the ability for BTC to adapt to new technologies and require less power to be useful is very underestimated. I also think it's unknowable what sort of support structure big players would willingly setup at costs to preserve an asset class that has so much widespread popularity. I also think it's possible BTC could create some pseudo side chain that further protects and props up the space. Do people underestimate the necessity for bitcoin for other protocols to operate and how these and other players might take part or incur costs to continue it's existence?

    I love gold but what happens when we reach some level of space exploration where gold is now commonplace and cheap to obtain? In some ways I think of stuff like this as pipe dreams but then I look at everything around me and it seems like it's the people who created it that are claiming it will happen.

  19. #4094
    Join Date
    Nov 2008
    Location
    Edge of the Great Basin
    Posts
    5,536
    If space exploration making gold commonplace is your concern then can I interest you in a Mars coin?

    Attachment 374328

  20. #4095
    Join Date
    Aug 2016
    Posts
    322
    It's not a concern. It's just a possibility I am happy to entertain, even if I think it's unlikely to happen anytime that affects my life.

    I see plenty of things around me that people have said for years couldn't be, even with loads of evidence to the contrary.

    Given what we don't know about tomorrow, I wouldn't state with any certainty that the life cycle of gold being a prized asset couldn't end before Bitcoin.

  21. #4096
    Join Date
    Feb 2005
    Location
    North Vancouver/Whistler
    Posts
    13,983
    Quote Originally Posted by Shaaarrrp View Post

    Is anyone more familiar with the 90/00s investment waves? I feel like it's usually described as one huge bubble but there had to have been multiple waves that could possibly tell us something.
    Yes. There were multiple waves with multiple themes. Some repetitive. Some one-time

  22. #4097
    Join Date
    Feb 2005
    Posts
    19,201
    I will say if eth2.0 does not get a giant kick in the ass very quickly, there is going to be a lot of very very sore losers.

  23. #4098
    Join Date
    Nov 2002
    Location
    Cloud City
    Posts
    8,768
    Quote Originally Posted by MakersTeleMark View Post
    I will say if eth2.0 does not get a giant kick in the ass very quickly, there is going to be a lot of very very sore losers.
    If you mean that it needs to be totally awesome, and on time (July), well, I dunno. I'm currently listening to a Lex Fridman interview with Vitalik and he is talking about the complexities of sharding and how this has never really been tried in crypto yet. And he is talking about how you can always just add an order of magnitude with any software estimate. The proof of stake chain is optional as I understand it, still figuring it out. And there are phases 0, 1, 2...

    Anyway, not trying to spread fud or anything, but it is just a big challenge. I'm rooting for them.
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  24. #4099
    Join Date
    Feb 2005
    Posts
    19,201
    Quote Originally Posted by shera View Post
    If you mean that it needs to be totally awesome, and on time (July), well, I dunno. I'm currently listening to a Lex Fridman interview with Vitalik and he is talking about the complexities of sharding and how this has never really been tried in crypto yet. And he is talking about how you can always just add an order of magnitude with any software estimate. The proof of stake chain is optional as I understand it, still figuring it out. And there are phases 0, 1, 2...

    Anyway, not trying to spread fud or anything, but it is just a big challenge. I'm rooting for them.
    There are scores of devs that are just waiting to port to a different chain. Just sayin, the kick in the ass is real. Even if you need sub chains to shard, they need to make something happen soon or there will be a major shift in the network effect.

  25. #4100
    Join Date
    Nov 2002
    Location
    Cloud City
    Posts
    8,768
    I hear you.

    I used to worry about open source code and how anybody can just copy the code, and that happens all the time (look at binance). But it seems to always come with more centralization, sorry I don't have a ref for you off the top of my head. And don't forget that it works both ways - if some smaller community develops something interesting, it can always be integrated into the major players, whether btc, eth, link.

    We are so conditioned to a top-down human world that it is really hard to trust the process of open code and how do I say it, the egalitarianism and libertarianism of this new system. Peer to peer and open. I find it so compelling. This is still the wild west/new frontier and github is the only sheriff in town. That's what people on the outside don't see. Scary that Microsoft bought github, but that's a story for another day I suppose.

    Sorry for the woo woo.
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •