Bitcoins - about to hit $5,000 per coin today!

[obsidian]

I'm keeping an eye on VeChain (VET).

It's performed extremely well for me so far and I think there's a good chance it go to at least $1.00 in this bull cycle from a current $ 0.22.

If it gets listed on Coinbase, the price could also skyrocket.

Some more optimistic forecasts I've seen are $3.00 to $5.00.

I've had quite a bit of VeChain for years now. I never even realized I had it until I checked my Binance account. BUT I should have bought a lot more back in the day when the token was worth nothing. The (4) I should have really gone balls deep with are VeChain, BNB, ADA and Doge. I could have had a bigger boat!

[Flexacon]

Again, based on what? Sounds like you're just making random speculations to appear in the know when you know full well that you will never be called out on being wrong.

I've already touched on this and your other post in a previous post of mine.

I'll add the caveat that no ones knows for certain what will happen and this is all opinion, but history is a great teacher. This has dotcom written all over it.

And the reason for that was..... Yes, new competitors enter the market and often do it better if the original doesn't adapt. Cash gave way to checks, to credit cards, to internet... things evolve but that doesn't mean those options didn't serve it's purpose. BTC is here now and is what most people are using and will continue to grow. Will it be around forever? Nothing lasts forever. Sears use to rule the retail world. They are all but gone now. You're acting like BTC is not worth the investment and we should wait for the next big thing.

I don't think I've acted like that. I've explained the type of investment I think bitcoin should be viewed as to right now. I've also not mentioned anything about waiting for the next big thing.

Most getting into bitcoin now are basically using in it the same way someone might invest in a rare baseball card, precious gems or artwork. Or as a hedge against a complete market collapse/hyperinflation. Some will do very well out of it, some will get their fingers burnt.

Also bitcoin lives in the technological world. I'd rather compare it to other products that lived in the same landscape. Comparing it to Sears makes very little sense.

[Flexacon]

The property I purchased 6 months ago went up 50%. My wage went up 0.9% over a year inline with CPI.

This isn't something unique. It's been happening in hotspots across the globe for a couple of decades now.

Also I don't see things ending up in a 1930s type depression. There will be jobs, just not people willing to do them. The likeliest solution will immigration and more stimulus checks (UBI). When a government backed crypto is ready that's when UBI becomes a thing and replaces stimulus checks.

[Bindare_Dundat]

I'm keeping an eye on VeChain (VET).

It's performed extremely well for me so far and I think there's a good chance it go to at least $1.00 in this bull cycle from a current $ 0.22.

If it gets listed on Coinbase, the price could also skyrocket.

Some more optimistic forecasts I've seen are $3.00 to $5.00.

Good call holding as well

[Bindare_Dundat]

Ethereum went up to $2,504 again today. Ethereum's price really should be at around $5,000-$6,000 with Bitcoin sitting above $50,000.

Ethereum's circulating supply is around 115.12 million. Bitcoin's circulation supply is 18.69 million. That means ETH's supply is 6.15 times that of BTC. And with EIP-1559 ETH's inflation will be stopped in its tracks. One could argue that ETH's token value should be 1/6th of Bitcoin's. $54,000 / 6 = $9,000. $2,400-$2,500 is really laughable when you consider the fundamentals of Ethereum.

https://www.kitco.com/news/2021-04-21/Dogecoin-and-Ethereum-one-of-these-is-very-very-undervalued-Ran-Neuner.html

Ethereum’s value lies in not just its technological capabilities, but also in its network effect, said Ran Neuner, co-founder of Crypto Banter, host of CNBC’s Crypto Trader and CEO of OnChain Capital.

Speaking to Michelle Makori, editor-in-chief for Kitco News, Neuner said that should Ethereum be priced using comparable network metrics as Bitcoin, the price should be several times higher.

“If you compare where the Ethereum network is versus the Bitcoin network, and you say on a like-for-like basis, what should Ethereum be trading at? You get a valuation, according to Metcalfe’s Law, of Ethereum at about $6,000,” he said.

Ethereum is currently trading $2,400, and is therefore “very, very underpriced,” Neuner noted.

However, the similarities between Bitcoin and Ethereum end there.

“I think comparing Bitcoin to Ethereum is a very bad thing…that’s like comparing gold to Amazon,” he said. “The only thing is that they’re both crypto currencies and they’re both used on blockchain but they’re two completely different things. Bitcoin is a store of value, it’s a value transfer between me and you. That’s what Bitcoin does and it does it really well. Ethereum, however, is a world supercomputer that is decentralized.”

On Dogecoin, Neuner said that the crypto that skyrocketed more than 500% in less than three days in mid-April has no intrinsic value and is a pure speculation play.

“Dogecoin is at best a meme coin. It is a useless piece of technology, which is not very secure. It was designed as a joke, it was designed as a meme. They called it a small change coin,” he said. “It was designed badly on purpose.”

Additionally, unlike Bitcoin, there isn’t a finite amount of Dogecoin as more of it can be created. Neuner compared this feature to the U.S. dollar, another currency that does not have a hard cap on supply, which he also referred to as a “meme coin.”

Dogecoin’s popularity was driven up in part by TikTokers, who see this is a kind of “freedom coin,” according to Neuner.

“What happens next? One of two things: one, it crashes, all these TikTokers get wiped out, and it’s just another one of these pump and dump schemes. Dogecoin has done [this] several times since 2017, it goes up, and then it somehow goes down. Or two, the TikTok generation actually adopts this as their cryptocurrency,” he said.

Doge is at 26 cents. My dream is coming true. Burn in hell doge. Lol

[obsidian]

Crypto Hulk!

[obsidian]

Doge is at 26 cents. My dream is coming true. Burn in hell doge. Lol

Lol we'll see. Doge to the Moon!!!!

[gib]

CPI is the metric used for business to justify wage inflation.

The fundamental is supply/demand which sets the initial salary band as you say but after that the business economy and govts use CPI for annual wage increase calculations and forecasts.

We don’t have ‘wage price discovery’ on an annual basis. We all know what we are worth due to the massive amount of job data available. Once employed, you get CPI annual increases for the vast majority.

You know that Mr picky lol. It’s acceptable To talk in broader terms yeah?

The prime metric an employer uses in determining wages they offer is supply and demand. If the supply of workers of the type they need is low, they of course will need to offer more to get such workers. Regardless of what CPI is. Similarly if the supply of such workers is high, then those workers aint getting a wage increase, regardless of how CPI is.

Also, in practice, CPI is not an inherent or objective metric (although theoretically it could be). There is no single uniform or global "CPI" formula, so to speak of. Practically, its entirely dependent on what things you wish to measure, and how you measure it. So your own personal measured "CPI", vs mine, vs that from a welfare agency vs that provided as an official government CPI agency will all be very different. If what you care about (or your "basket") is the averaged cost of McDonalds, gasoline for your carm Netflix and Nike sneakers, your measurement will be very different to if your basket consisted of the cost buying a house, private medical care, Bitcoin and equities.

Governments currently have an inherent narrative to make people think things are not going up, hence many cost components are excluded, are removed, replaced etc to help achieve giving people this belief. So, we tell people that inflation is very low, but the reality is of course very different. And we don't necessarily decrease wages (as that would make people feel poorer). Instead we do this via stealth by printing more money (and then trying to convice people that doing so will not have an inflationary effect).

[gib]

Doge is at 26 cents. My dream is coming true. Burn in hell doge. Lol

Well, I did warn you...

All these alts can boom and bust. Fun when booming, but vast vast majority will fade to zero.

[obsidian]

Ethereum new ATH $2,528. Let's go to $3,000!

EDIT: Make that $2,538.86

[Mayday]

Snip

you’ve gone off on a bit of a tangent dude. There is no free lunch, wages get crushed in this scenario every single time throughout history.

In my P&L I have set CPI for annual wage increase. This is while working for global consumer brands in my country. I hate to tell you but we use a CPI globally as a standard annual review method.

Wage guidelines are set by the company which are low-mid-high tier guidelines and follow industry standards. Again, normal and set.

We do not review supply/demand when hiring or adjust salaries because only 10 applicants applied instead of 100. It’s generally mid tier wage and we have never had a problem hiring in decades.

Where the supply/demand argument falls over is when the system breaks down. Business will not increase wages and People simply refuse to work due to low wages. Weimar Germany, 1940s, 1970s protests by those wanting higher pay, protests by those wanting jobs. Business sat tight on wages and crushed the workers.

There was data released just these last 2 weeks about this very thing showing growing job vacancies vs wage offers decreasing.

Supply/demand rules dictate they resolve it meanwhile in the real world businesses are refusing to increase their wages and are going down the path of reduced staff.

[gib]

you’ve gone off on a bit of a tangent dude. There is no free lunch, wages get crushed in this scenario every single time throughout history.

In my P&L I have set CPI for annual wage increase. This is while working for global consumer brands in my country. I hate to tell you but we use a CPI globally as a standard annual review method.

Wage guidelines are set by the company which are low-mid-high tier guidelines and follow industry standards. Again, normal and set.

We do not review supply/demand when hiring or adjust salaries because only 10 applicants applied instead of 100. It’s generally mid tier wage and we have never had a problem hiring in decades.

Where the supply/demand argument falls over is when the system breaks down. Business will not increase wages and People simply refuse to work due to low wages. Weimar Germany, 1940s, 1970s protests by those wanting higher pay, protests by those wanting jobs. Business sat tight on wages and crushed the workers.

There was data released just these last 2 weeks about this very thing showing growing job vacancies vs wage offers decreasing.

Supply/demand rules dictate they resolve it meanwhile in the real world businesses are refusing to increase their wages and are going down the path of reduced staff.

I don't dispute that some companies (and unions also) use a CPI measurement as a benchmark for salary adjustments and negotiations. But as a businessman, I can tell you it ALWAYS comes down to supply and demand in the long run. Anyone who runs a business will confirm this. If not, you won't survive as a successful and competitive company.

In the industries I operate and invest in, primarily tech and finance, we pay what the market demands. We track what competitors pay, and we track retention rate. We pay zero attention to any kind of Government CPI calculation.

You don't pay more than you need to for the maximum output, Common sense, and basic economics. For non-competitive employee wage slaves (such as Government civil servants), CPI of course is something that is more commonly used and followed for annualized increases.

[Bindare_Dundat]

Ethereum new ATH $2,528. Let's go to $3,000!

EDIT: Make that $2,538.86

yeah, its kicking ass right now. i doubled my bags when the price tanked so this is awesome. just about ready to take some profit.  itll get to 5k for sure this year.

[polychronopolous]

Jackson, Tennessee to Adopt Bitcoin, May Mine and Hold $BTC on Its Balance Sheet

Mayor Scott Conger of Jackson Tennessee has plans to begin using cryptocurrency within the city. The Mayor also said that the city is exploring giving its employees the option to be paid in crypto as well as mining Bitcoin and keeping it on the city's balance sheet.

"What does the future of cryptocurrency look like for the city of Jackson? We're exploring payroll conversions for our employees. Even more exciting - we're seriously exploring mining Bitcoin to add to our Balance sheet," said the Mayor in a tweet.

The Mayor made his interest in cryptocurrency even more clear when he changed his Twitter picture to include laser eyes, a popular trend among those involved in the crypto-twitter community.

The Mayor's move joins Jackson TN with the city of Miami FL and some of its surrounding counties. The city of Miami has started to allow its employees to be paid in crypto. Miami-Dade, a county within the metropolitan area, also started to review ways the use of cryptocurrency can make life more efficient.

Mayor Conger tweet that cryptocurrency allows its users a way to bridge the gap of inequality. He also mentioned that the city will be working with The Black Wall Street, a black-owned company that provides a digital wallet for Bitcoin and Ethereum, "to bring cryptocurrency and financial empowerment to Jackson."



https://www.thestreet.com/crypto/bitcoin/jackson-tennessee-to-hold-bitcoin-and-pay-employees-in-cryptocurrency

[Griffith]

https://bitcoinist.com/fmr-goldman-sachs-exec-struggles-not-to-sell-his-bitcoin-for-ethereum/

Fmr Goldman Sachs Exec “Struggles” Not to Sell His Bitcoin For Ethereum

With a 7% increase over the past day and a 53.4% in the monthly chart, Ethereum trades at $2.636,08 and seems to be leading this alt season. Former Goldman Sachs executive, Raoul Pal, has shared data to demonstrate the bullish case is real and ETH’s potential to push into uncharted territory for the rest of 2021.

Up 10% against Bitcoin (BTC), ETH operates as the cryptocurrency to price “anything up in DeFi, NFT, community tokens or even metaverse world”, said Pal. Most of the crypto space’s current trends are based on Ethereum and seem to be blooming. In particular, DeFi has seen impressive growth.

Data from DeFi Pulse shows this sector reached an all-time high in Total Value Locked (TVL) on April 15th, when it reached $62 billion. Although it registered a small decline over the past week, this metric stands at $60.01 billion with its top 3 DeFi protocols (MakerDAO, Compound, Uniswap) with a TVL of over $24 billion. Pal said:

ETH is rapidly becoming the currency of the digital world and BTC is the pristine collateral and base layer.

The former Goldman Sachs executive added that ETH space registered a 100% Year on Year (YoY) growth, as seen in the chart below. In contrast, BTC’s YoY growth stands at 50%. Also, Ethereum has been “attracting a massive proportion of the developer talent and applications”.

Ethereum dominates in BTC/ETH pair
Back to the BTC/ETH pair chart for the past 3 years, Pal believes ETH has reached “an enormous, rounded bottom”. In a previous analysis, Pal said ETH has outperformed BTC by 250% since 2015 when the former cryptocurrency was launched. Ethereum has a network effect capable of providing this token with a sustained rally in BTC terms, Pal added.

As a bonus, ETH 2.0 will improve the platform’s scalability, fee cost, and reduce the supply of the cryptocurrency. Raoul Pal said:

At this point in the risk cycle and with ETH 2.0 coming (cheaper fees and less supply), I’m struggling to not sell all my BTC to move my entire core position to ETH.  To be clear – I’m a massive BTC bull, but I think ETH is the better asset allocation for performance right now.

At the time of writing, ETH is breaking ATH barriers and continues to pump in the daily chart. In terms of market cap, ETH is close to surpassing PayPal’s. The cryptocurrency’s market cap stands at $304 billion. As analyst Ali Martinez noted, there has been a significant spike in the number of whales active in Ethereum’s network.

After the weekend flash crash, investors with over 10,000 and 100,000 ETH saw an important rise. Therefore, Whales bought the dip and increased ETH buying pressure leading to the current price action. In response to Pal’s argument, trader Peter Brandt said: “Raoul, I see it the same way”.

[obsidian]

https://cointelegraph.com/news/ripple-co-founder-thinks-bitcoin-should-move-away-from-proof-of-work

Ripple co-founder thinks Bitcoin should move away from proof-of-work

Bitcoin code contributors need to consider a move away from the cryptocurrency’s proof-of-work consensus mechanism, Ripple co-founder Chris Larsen argued.

In a Wednesday blog post, Larsen outlined major PoW-related vulnerabilities, noting growing concerns over Bitcoin’s carbon footprint. According to the executive, PoW-based coins like Bitcoin (BTC) should consider a code change to carbon-neutral validation methods like proof-of-stake or federated consensus, or something yet to be developed.

“I would argue that such a change is critically important for Bitcoin to remain the world’s dominant cryptocurrency. PoW’s current energy demands and carbon footprint are already unsustainably high, with Bitcoin alone consuming an average of 132 TWh a year — equivalent to roughly 12 million U.S. homes,” Larsen noted.

The co-founder pointed out that non-PoW altcoins — including Ethereum’s anticipated switch to proof-of-stake — make up 43% of all cryptocurrencies by market capitalization, with many new coins choosing to avoid PoW. “It’s clear which way the trend is moving,” he stated.

Larsen mentioned that the XRP ledger has been using federated consensus to secure its network and validate transactions for about nine years. “It’s closed 62+ million ledgers without downtime, uses the energy equivalent of just 50 U.S. homes per year,” he noted. Some new successful altcoins like Binance’s native token Binance Coin (BNB) also operate a version of PoS, Larsen said.

Larsen’s remarks come amid a significant drop in Bitcoin’s dominance on cryptocurrency markets. In March, the Bitcoin Dominance Index dropped below 60% for the first time since October 2020. As the altcoin market gains momentum, Bitcoin continues to lose its share of the market, with the dominance index falling to 50.7% on Wednesday.

There has been a long-running debate between proponents of PoW and PoS, with the latter’s advocates seeing mining energy costs as the biggest problem for PoW. The Bitcoin and Monero community — some of the biggest PoW proponents — often argue that PoS cannot reach the level of security and decentralization provided by PoW.

Niklas Nikolajsen, the founder of Swiss crypto broker Bitcoin Suisse, predicted that Bitcoin will shift to PoS once the Ethereum network proves the algorithm’s success.

[obsidian]

yeah, its kicking ass right now. i doubled my bags when the price tanked so this is awesome. just about ready to take some profit.  itll get to 5k for sure this year.

It's consolidating now but went up to $2,691.95.

Bitboy Crypto is a little worried that Bitcoin is not moving much and Ethereum is pumping. Remember December 2017 - January 2018?! Damn I still have nightmares about how that played out.

[obsidian]

[El Diablo Blanco]

Did you ever see that documentary on Ethereum that someone posted on here.  Some little ex russian country went all in on it years ago.  They are probably laughing their asses off now.  Bunch of rich country folk

[Bindare_Dundat]

It's consolidating now but went up to $2,691.95.

Bitboy Crypto is a little worried that Bitcoin is not moving much and Ethereum is pumping. Remember December 2017 - January 2018?! Damn I still have nightmares about how that played out.

I sold 25% @ $2561.

you mean when Eth got dumped and BTC pumped again?  is that what youre referring to?  i dont watch that dude.

[Griffith]

I sold 25% @ $2561.

you mean when Eth got dumped and BTC pumped again?  is that what youre referring to?  i dont watch that dude.

You don't like Bitboy? 

 

[El Diablo Blanco]

I'd touch her with my coins

[Griffith]

Basically, swapping your BTC for ETH and altcoins to increase your BTC while Bitcoin dominance is at lower levels and we could see an altcoin season. ETH could still 10x.

[Bindare_Dundat]

BTC taking a huge dump right now. Dont think this is gonna recover as soon as predicted.

ill be taking profits as we start bumping back up. 

50.3 k suppoort.

[OneMoreRep]

Don't know if you guys noticed, but Biden is proposing an increase to the capital gains tax from the marginal 15-20% after a year of holding assets (stocks, real estate, crypto etc) up to 30-40% even after a year of holding assets. This tax is proposed for the wealthiest Americans that make over $1 Million per year and it's intended in order to fund the American Families Plan.

No wonder all exchanges (Dow, Nasdaq, S&P) and the entire crypto market is getting shit on. All institutional investors are selling hard!

I swear, socialism with a quick jump into communism is just around the corner for the USA.

https://www.google.com/amp/s/www.cnbc.com/amp/2021/04/22/biden-to-propose-capital-gains-tax-hike-to-fund-education-and-child-care.html

Buy on the dip gentlemen...

"1"