Bitcoin....who's gotten into it?

[byates1]

thx for the lrc thoughts bushwack, you see it mooning in the short term, are you hodling long term w some? i saw somewhere it has a use case similar to compound, which is like a 300$ token.

[jackstraw]

Just because someone made a typo everyone needs to follow now? Is that just tech cool or full geek? I'm thinking both.

[stalefish3169]

Just because someone made a typo everyone needs to follow now? Is that just tech cool or full geek? I'm thinking both.

pwned

Sent from my Pixel 6 Pro using Tapatalk

[Bushwacka]

thx for the lrc thoughts bushwack, you see it mooning in the short term, are you hodling long term w some? i saw somewhere it has a use case similar to compound, which is like a 300$ token.

You have to look at circulating supply, fundmental of each coin not with standing.

Compound has a 6.0 million in circulation, with a total of 10 million. its market cap is 2.0 billion

LRC has 1.3 Billion in circulation which is 96 percent of the supply. its market cap is 4.6 billion. LRC went from 300 million market cap to 4.6 billion in the last month.

Basically LRC is already worth 2.3 times more than Compound. a 300 dollar LRC is unlikely and would be the 3rd largest market cap to reach 300 any time soon if ever, even though LRC gets burned while you use it

This why when people think shib can hit .01 or DOGE can get to 2.0 that they do not understand market cap.

LRC has broken out of consolidation and briefly hit 3.50, still no GME news and again while I split my day trade today between LRC and Cartesi. I am holding LRC with a target to sell 2/3rd of my tokens at 10 ish dollars, and holding another 1/3rd for a year. I believe we will see at least 10 dollars after GME official announcement. I am also day trading various amount during the day, the reason why I day trade and an HODL is its a hedge against mistake I can make with either. Day trading ensure I am more money closed out at the end of the say, HOLDING ensure that if pumps bigger than I think, I get that profit as well.

[stalefish3169]

You have to look at circulating supply, fundmental of each coin not with standing.

The SHIB to a dollar crew struggles with this concept.


Sent from my Pixel 6 Pro using Tapatalk

[byates1]

nice thx!

[MakersTeleMark]

The SHIB to a dollar crew struggles with this concept.


Sent from my Pixel 6 Pro using Tapatalk

Struggling with fundamentals is a hard thing to wrap your head around, especially since utility and fundamentals are hard.

[MakersTeleMark]

i saw somewhere it has a use case

Just had to quote.

[Bushwacka]

So I was wrong, seems like LRC was still very much linked to the BTC drop last night. It also seems like we have solid support at 3.00 ish dollars. Almost the entire market except for Mana/playdapp and Enjin is red. Gaming token will sometimes pump before the weekend and 2 of the big 3 pumped with Axie being the only one yet to go.

[shera]

This thread has gotten funny and interesting. Can't say I support wild speculative plays, but it's your money, do as you will. I'm a crypto boomer I guess. Anyway, don't forget to show us your loss porn!!!!

[Bushwacka]

This thread has gotten funny and interesting. Can't say I support wild speculative plays, but it's your money, do as you will. I'm a crypto boomer I guess. Anyway, don't forget to show us your loss porn!!!!

I mean LRC was a clear catalyst IMO. Shib and DOge IMO are wild specualtion but can still be good trades, they just have almost no use case and literally designed to be inflationary. Where as ETH is deflationary. IE I think shit coins are bullshit but I now as rule take a 10 dollar positions in ever single one hoping it turns in the next shib, because I could have done that with ship and doubled my net worth from where I am today. It about acceptable risk and risking 10 dollars 100 times over is not much risk to me.

The thing is trading is not investing. If your investing though I still think exposure to alt coins even being absolutely clueless to them is worth it. The thing is I am spending hours a day watching charts so I feel comfortable taking some risk. Like I made 300 dollars on COS yesterday in a trade from the .020 to .029 run up and I got back into it again today.

I will say that LRC did false break out to 3.5x before the BTC drop caused all coins to drop today. I am barely even on the day and honestly there are other days to actively trade.

this basically described my thoughts on LRC right now.



I think for anyone looking to actually build wealth and not just maintain wealth, entry point is the most important thing. My entry point into LRC is so low and the catalyst are all there that it would take alot to cause me to panic but basically if by the time you hear about something its almsot always too late when you see XXX coin went 140 percent in a day, you have to try to figure out what catalyst will do that before any MSM has picked up on it yet.

[jackstraw]

The thing is trading is not investing. If your investing though I still think exposure to alt coins even being absolutely clueless to them is worth it.

I don't have the time or desire to trade, but I do own some crypto. Just enough to not worry that much, but I enjoy the craziness of it. I've been down 25k and up 25k. Sitting on the plus side of 20 now. Surely I could have made money on the swings if I could have possibly timed it, but that takes analysis and some luck.

[Brock Landers]

You have to look at circulating supply, fundmental of each coin not with standing.

Compound has a 6.0 million in circulation, with a total of 10 million. its market cap is 2.0 billion

LRC has 1.3 Billion in circulation which is 96 percent of the supply. its market cap is 4.6 billion. LRC went from 300 million market cap to 4.6 billion in the last month.

Basically LRC is already worth 2.3 times more than Compound. a 300 dollar LRC is unlikely and would be the 3rd largest market cap to reach 300 any time soon if ever, even though LRC gets burned while you use it

This why when people think shib can hit .01 or DOGE can get to 2.0 that they do not understand market cap.

LRC has broken out of consolidation and briefly hit 3.50, still no GME news and again while I split my day trade today between LRC and Cartesi. I am holding LRC with a target to sell 2/3rd of my tokens at 10 ish dollars, and holding another 1/3rd for a year. I believe we will see at least 10 dollars after GME official announcement. I am also day trading various amount during the day, the reason why I day trade and an HODL is its a hedge against mistake I can make with either. Day trading ensure I am more money closed out at the end of the say, HOLDING ensure that if pumps bigger than I think, I get that profit as well.

Why does all of this matter when tomorrow theres 2 brand new crypto currencies with whatever # tokens or coins or whatever.

[Bushwacka]

Why does all of this matter when tomorrow theres 2 brand new crypto currencies with whatever # tokens or coins or whatever.

Well 99 percent of new crypto are shit. with that said some might pump and buying a couple billion tokens for 1-10 dollars can be a good trade, its bullshit but money is an entirely made up concept, although arguably established cryptos are more "real" than FIAT money from any country because they have established token limits and can not be manipulated by a government artificially holding interest rates at a certain level. They are pure supply and demand, but an over inflated dollar can cause even crypto to become a bubbles.


Market cap and token allocation matter a ton in established crypto, basically it means how much each token of said crypto can be worth given a certain market cap, IE how much the money is willing to buy into the concept either because of is legit underlying value in it yourself or store of value, or how much hype there is around it. but its basically really basic math. For SHIB at its current token supply(and ever growing amount) it would need to have a market cap of about 5.9 TRILLON dollars IE the market cap of 4 times that of BTC to achieve that .01 cent valuation. IE its basically impossible.

Basically anyone that thinks it can happen is literally ignorant of how a market works. Token supply and market cap are very valid pieces of technical analysis and can give you a realistic idea of how much a token could be worth or should be worth.

[Falcon3]

IE its basically impossible.

Basically anyone that thinks it can happen is literally ignorant of how a market works. Token supply and market cap are very valid pieces of technical analysis and can give you a realistic idea of how much a token could be worth or should be worth.

Logically I agree with you but we live in a world where Rivian has a market cap larger than Ford and almost equal to GM. So fundamentals have been thrown out the window on this shit (at least until it all comes crashing down)

[Bushwacka]

I don't have the time or desire to trade, but I do own some crypto. Just enough to not worry that much, but I enjoy the craziness of it. I've been down 25k and up 25k. Sitting on the plus side of 20 now. Surely I could have made money on the swings if I could have possibly timed it, but that takes analysis and some luck.

Absolutely.

The way I look at it, is trading is good source of short term income with much limited down side because some times you are literally getting to a huge position and then just selling at a 1-10 percent gain, and yes you can get it wrong sometimes, but my trading account I never wake up and find I lost 50 percent of my value over night because the money goes in and comes out really briefly whether seconds, minutes or hours..

There are times where you sell not near the peak, or keep running a couple weeks after you sell but you made money, and you fight another day. Like there was day in august where I owned over 1000 SOL, I sold it that day for a 10 percent return that day and make a fair bit of money. Needless to say that 1000 Sol is worth like 234,000 dollar today. I held a small amount from about 50 dollars up but I tend to trade short term securities and profit, from long term gains and potential risk of HODL. This is why I HODL ADA(staked), SOL and now LRC as well as ton of stupid small position in shit coins.

Today is a shit day for day trading, RED EVERYWHERE. upside is hard to find today.

[Bushwacka]

Logically I agree with you but we live in a world where Rivian has a market cap larger than Ford and almost equal to GM. So fundamentals have been thrown out the window on this shit (at least until it all comes crashing down)

stock market is way over valued and Tesla, Rivian, and Lucid are basically based on their potential. its more speculative than established crypto Basically there is nowhere enough EV companies to fill the demand.

Also the market bubble could be manipulation from Market makers to try to have enough assets to cover their short positions. Basically stock market has way more way to be manipulated than crypto because shares literally can be made to appear out of thin air. You do not own your shares unless you DRS them, and market makers can create synthetic shares and naked short sell(as well naked long position) stock to drive the price to wear it make them the most money. Basically it you are the product of the stock market and the rich will always win. tokenize NFT stock would stop this from happening but then hedge funds, banks, and market makers could not make money at will be manipulating shit.

[Brock Landers]

Would love to see the technical analysis and fundamental bullshit cited during a 2001/2002 or 2008 or whenever the next “normal” downturn is.

Tesla may be overvalued. But there’s 1 Tesla (for now) and maybe 5-6 “Tesla’s” in 10 years. And they make actual stuff that people may actually buy more and more of.

There’s like 40 cryptos right now. Eventually 30+ of them go to 0.

[Bushwacka]

Would love to see the technical analysis and fundamental bullshit cited during a 2001/2002 or 2008 or whenever the next “normal” downturn is.

Tesla may be overvalued. But there’s 1 Tesla (for now) and maybe 5-6 “Tesla’s” in 10 years. And they make actual stuff that people may actually buy more and more of.

There’s like 40 cryptos right now. Eventually 30+ of them go to 0.

people knew the market would crash in 2008, just no one listened to them. 40 cryptos? lollolloll there are like 1000s of cryptos......and yes some will go to zero.

but market cap and coin supply matter.

[Vt-Freeheel]

Logically I agree with you but we live in a world where Rivian has a market cap larger than Ford and almost equal to GM. So fundamentals have been thrown out the window on this shit (at least until it all comes crashing down)

Because new upstart car manufacturers are so much better at building cars than companies that have up to 100+- years of experience? Everyone realizes that it will take longer than the daydreamers to switch to all electric? There is a couple of decades of infrastructure that need to be completed before full scale switchover can happen. Remember, no one wants to do blue collar work.

[Brock Landers]

people knew the market would crash in 2008, just no one listened to them. 40 cryptos? lollolloll there are like 1000s of cryptos......and yes some will go to zero.

but market cap and coin supply matter.

The market crash that “people knew” was coming was around less bullshit stuff than 95% of the one trick pony, never been through a bear market sell off, made up shit that comes out every day.

There’s thousands of cryptos? Then how do you take any one seriously? Random draw? Longest straw? Rocks paper scissors? Some dude made a crypto as a joke and a dog is the symbol. Seems like it’s definitely here long term!!

[LeeLau]

There’s thousands of cryptos? Then how do you take any one seriously? Random draw? Longest straw? Rocks paper scissors? Some dude made a crypto as a joke and a dog is the symbol. Seems like it’s definitely here long term!!

I'm a bit old fashioned. I read the constituting documents (usually the charter of the DAO), read about the governance, see what technology has been implemented and how, check maximum token issuance. It does mean quite a bit of legwork. And it's quite different than SEC filings so required a new set of skills and BS filters

[Bushwacka]

The market crash that “people knew” was coming was around less bullshit stuff than 95% of the one trick pony, never been through a bear market sell off, made up shit that comes out every day.

There’s thousands of cryptos? Then how do you take any one seriously? Random draw? Longest straw? Rocks paper scissors? Some dude made a crypto as a joke and a dog is the symbol. Seems like it’s definitely here long term!!

Micheal Burry was out there trying to tell people to sell.

He is doing it again.

You read the white papers, and start reading up on the tech. You ignore the bullshit, or like me you throw 10 bucks at evey shit coin because its a probability game.

[garyfromterrace]

... or like me you throw 10 bucks at evey shit coin because its a probability game.

That sounds to me like gambling or buying lotto tickets.

[Bushwacka]

That sounds to me like gambling or buying lotto tickets.

that is.

but the probablilty of winning is much higher. You have better chance of winnng that you do at throwing 10 dollars at random penny stocks.

Long term investing, day trading, and mid term slide trading again have every bit of risk like the stock market, buts its educated probablity game at that point. It more like black jack with card counting, and nothing like playing slots of the lottery. The houses does nt always win.