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

[Flexacon]

This recent boom was on the back of ETH spot ETF news. ETH yield could potentially be a huge draw for boomers

FOMO got me so I'm chasing    Bought my first big tranche of Alts. Celestia TIA at just under $2.5 (at $2.6 now)

Up x4 in a month. Love being a lucky shit coiner

[gib]

Time to get ready to blast through 44.

[Flexacon]

Time to get ready to blast through 44.

It did look good for a  blast through, but at the time the situation with Ledger looked to put a break on that move.  It may need to go lower now before it can go higher.

ETH is also looking very bearish. It may need some of that good spot ETF moment to counter some of the FUD going around.

I'll take my lucky x5 on TIA and cash it out TAX FREE

[gib]

It did look good for a  blast through, but at the time the situation with Ledger looked to put a break on that move.  It may need to go lower now before it can go higher.

ETH is also looking very bearish. It may need some of that good spot ETF moment to counter some of the FUD going around.

I'll take my lucky x5 on TIA and cash it out TAX FREE

In the long run, BTC is unstoppable in my view.

The market often confuses matters incidental to Bitcoin with Bitcoin itself. Bitcoin doesn't give a shit about Ledger's f-up, nor any bullshit scam exchange, nor any bullshit coin that seeks some affinity with Bitcoin. In the long term, Bitcoin always prevails.

As for Eth, yes, the alt and shitcoiners are learning a lesson that last cycle's "shiny new objects", which did well coming from a very low market cap, will not perform as it did against BTC in future cycles, both because the market has sniffed out their bullshit, but also due to the larger market cap of such shitcoins. Would not surprise me at all if ETH actually underperforms BTC this cycle (far from the 5x some Eth zelots were predicting).

The dollars and cent Robin Hood alt degens, have focused their hopes on the next "shiny new object" (Solana as an example). All these alts are that absolute BS, yet they attract investors who really have no idea at all, beyond believing a BS narrative about how the latest coin will send the world.

I would keep it very simple. There is no second best Bitcoin. And there is only one Bitcoin. If investing in a alt, understand you are buying a token in an unregistered security, whose business is extremely likely to fail. (One rare exception I have found where the coin really does equate with a profit making business which is growing is Filecoin).

Further, it is very likely that once the titans of finance on Wall St have their BTC etf, they will apply huge force to ensure exchanges stop selling any kind of unregistered security. Quite possibly all will be removed from US exchanges. That really could be the plan. Remove SBF and CZ. Do the EFT with the adults in the room. And then crack down on the alts.

[Flexacon]

In the long run, BTC is unstoppable in my view.

The market often confuses matters incidental to Bitcoin with Bitcoin itself. Bitcoin doesn't give a shit about Ledger's f-up, nor any bullshit scam exchange, nor any bullshit coin that seeks some affinity with Bitcoin. In the long term, Bitcoin always prevails.

As for Eth, yes, the alt and shitcoiners are learning a lesson that last cycle's "shiny new objects", which did well coming from a very low market cap, will not perform as it did against BTC in future cycles, both because the market has sniffed out their bullshit, but also due to the larger market cap of such shitcoins. Would not surprise me at all if ETH actually underperforms BTC this cycle (far from the 5x some Eth zelots were predicting).

The dollars and cent Robin Hood alt degens, have focused their hopes on the next "shiny new object" (Solana as an example). All these alts are that absolute BS, yet they attract investors who really have no idea at all, beyond believing a BS narrative about how the latest coin will send the world.

I would keep it very simple. There is no second best Bitcoin. And there is only one Bitcoin. If investing in a alt, understand you are buying a token in an unregistered security, whose business is extremely likely to fail. (One rare exception I have found where the coin really does equate with a profit making business which is growing is Filecoin).

Further, it is very likely that once the titans of finance on Wall St have their BTC etf, they will apply huge force to ensure exchanges stop selling any kind of unregistered security. Quite possibly all will be removed from US exchanges. That really could be the plan. Remove SBF and CZ. Do the EFT with the adults in the room. And then crack down on the alts.

A consolidated Robinhood wallet has the 3rd biggest holdings of bitcoin out there ($3B). Not all bitcoin holders are maxis, some degen into alts to print multiples then roll it up into bitcoin.

Sol was already banned (labelled a security) in the US by the SEC earlier in the year and that hasn't stopped it in the last couple of months. Why fade these things in the short term? I certainly won't be cutting off my nose just to spite my face.

[gib]

A consolidated Robinhood wallet has the 3rd biggest holdings of bitcoin out there ($3B). Not all bitcoin holders are maxis, some degen into alts to print multiples then roll it up into bitcoin.

Sol was already banned (labelled a security) in the US by the SEC earlier in the year and that hasn't stopped it in the last couple of months. Why fade these things in the short term? I certainly won't be cutting off my nose just to spite my face.

Yes that is true about Robinhood, although bear in mind almost all exchanges hold their BTC across multiple wallets. RH seem to hold all in one wallet for some reason.

The SEC does not need to label anything a security for it to be a security. The SEC's job is to enforce securities laws, and the laws as to what is a security are already very clear. Sol will always be Sol, regardless of what the SEC says. However, they can prosecute the founders if they are in the US, and they can ask (and indeed compel) US exchanges to delist, which would massively dent liquidity and confidence in such an "alt".

Alts are a natural enemy to Bitcoin, in that they parasite off all the goodwill and legitimacy Bitcoin has, in attempt to try to steal a little of BTC's value. Its insidious stuff which in the long term only always hurts those holding alts when the scam collapses. But yes, if you time it right (just like with any scam and Ponzi or pyramid scheme), you can "make money" which you then convert back into BTC. Basic mathematics dictate that most people will not make money, with this approach, but that a smaller number will make a lot. And of course very alt "investor" thinks they are a genius, until they are not...

[OneMoreRep]

Long time since I've participated in this thread, but for what it's worth, I've consolidated all the money I had in crypto into 2 "coins".

Hold 1 Bitcoin and a few thousand in Chainlink. That's it.

"1"

[gib]

Long time since I've participated in this thread, but for what it's worth, I've consolidated all the money I had in crypto into 2 "coins".

Hold 1 Bitcoin and a few thousand in Chainlink. That's it.

"1"

Nice - smart move. The best "alt" in my view, is one which you can sit on for a decade, and which you know has a prospect of long term survival and success. Chainlink is one of these I think.

I am 95% BTC and then a few "alts" for shits and giggles, much as I despite them.

[OneMoreRep]

Nice - smart move. The best "alt" in my view, is one which you can sit on for a decade, and which you know has a prospect of long term survival and success. Chainlink is one of these I think.

I am 95% BTC and then a few "alts" for shits and giggles, much as I despite them.

Hard to resist not keeping to BTC with all the ETF talk.

Chainlink is in bed with SWIFT. For what that's worth, that's a huge partner to have and worthy of respect. Not to mention that as an oracle product, it connects everything. Has enough potential real-world function from my viewpoint.

"1"

[Taffin]

Had a nice surprise a moment ago thanks to this thread.  Since I am homeless by GetBig standards I started by putting just a teensy £10k into it in 2022 - but ended up pulling some out for various reasons.  And I didn't look at it again this year since some time in January.  When I checked a moment ago, my pitiful remaining BTC 'investment' moved from ~£4800 in Jan to ~£6400 today

Zero effort LOL - sweet

[gib]

Had a nice surprise a moment ago thanks to this thread.  Since I am homeless by GetBig standards I started by putting just a teensy £10k into it in 2022 - but ended up pulling some out for various reasons.  And I didn't look at it again this year since some time in January.  When I checked a moment ago, my pitiful remaining BTC 'investment' moved from ~£4800 in Jan to ~£6400 today

Zero effort LOL - sweet

Well Taffin - now the dilemma you have is whether to sell or not. Right now, Wall St is desperate to get their hands on your Bitcoin. My suggestion is to fight to retain what you have. Do not give it up. Indeed, if you can acquire more now, do so.

You will thank yourself later.

For anyone here who is still not a wholecoiner, you still have the opportunity, but it is fading fast. Do what you can to stack those Sats and then just HODL.

[gib]

Time to get ready to blast through 44.

Well, and as I told you, there we have 44K. Easy. We may bounce around a bit, but the near term (and long term) trend is upwards.

[French]

I told you when Solana was at 16 to sell your house and car
to buy massively.
Ethereum and Bitcoin have fees that are too high and are too slow
and need multiple additionnal stupid layers.
They will collapse in 2024, all investors will convert in Sol.
The release of Fire Dancer will provide the first impetus to its conquest of the first market capitalization.

[Flexacon]

I told you when Solana was at 16 to sell your house and car
to buy massively.
Ethereum and Bitcoin have fees that are too high and are too slow
and need multiple additionnal stupid layers.
They will collapse in 2024, all investors will convert in Sol.
The release of Fire Dancer will provide the first impetus to its conquest of the first market capitalization.

Well done on the gains. You can already have a very impressive DEX experience with Solana. Last bull run small cap fun was on BNBSC, this run now might be the time for some fun wif small caps on Solana    Dapps like Jupiter, Orca and Raydium make it all incredibly easy to use.

[gib]

I told you when Solana was at 16 to sell your house and car
to buy massively.
Ethereum and Bitcoin have fees that are too high and are too slow
and need multiple additionnal stupid layers.
They will collapse in 2024, all investors will convert in Sol.
The release of Fire Dancer will provide the first impetus to its conquest of the first market capitalization.

I don't recall that. Can you quote the post where you did this?

I do recall Obsidian recommending Solana when it was at $250, the absolute peak before its collapse in November 2021.

However, either way, Solana has nothing to do with Bitcoin, other than that in every Bitcoin cycle, we will see a "shiny new thing" with a lower market cap, receive some benefit from BTC's rise, and as a result of that smaller market cap, outperform BTC for a period of time (until it doesn't). The ETH fanboys of last cycle are now learning that lesson, let alone everyone else who dabbed in shitcoinery.

I have received a few personal messages what "alts" I would "recommend". I am reluctant to reply to those, and I have explained before why there is a fundamental distinction between alts, shitcoins, penny stocks, Ponzi and pyramid schemes, venture capital investments, unregistered securities etc, and BITCOIN. However, in case anyone really is interested, to the extent you can classify all this as "crypto", I have around 95% in BTC, and then the remainder 5% in alts as follows:

-ETH
-Filecoin
-ChainLink
-Solana
-Uniswap
-Aave
-1 Inch

That by no means should be taken as a suggestion from me that these are good "investments". However, I am fine to sit on them for the next decade and HODL long term, or offload on any surge. And indeed, it would not surprise me at all if for a period of time they do outperform BTC. They are fun to watch jump around, but not to be taken seriously.

But just remember, shitcoins come and go every cycle. Almost all will fail long term. As opposed to BTC which will always only rise over time. Every shitcoiner is a trading "genius', until they are not. Kind of like the story between the hare and the turtle...

[Flexacon]

I don't recall that. Can you quote the post where you did this?

But just remember, shitcoins come and go every cycle. Almost all will fail long term. As opposed to BTC which will always only rise over time. Every shitcoiner is a trading "genius', until they are not. Kind of like the story between the hare and the turtle...

Maxi bitterness and copium in action. How sad.

Frenchie x5 his bag and the maxi doesn't want to believe it. He posted he had a bag of Solana when it was priced in the high teens

[obsidian]

I told you when Solana was at 16 to sell your house and car
to buy massively.
Ethereum and Bitcoin have fees that are too high and are too slow
and need multiple additionnal stupid layers.
They will collapse in 2024, all investors will convert in Sol.
The release of Fire Dancer will provide the first impetus to its conquest of the first market capitalization.

Congrats on your gains. Solana @ $86 is still 33% of its ATH of 2021. BTC and ETH did not crash as much as Solana did. It dropped all the way to $8.

I made stupid gains on Doge in 2021. I sold ETH for Doge and once that was substantially in profit bought back my original ETH and left the remainder of Doge as house money. That remainder blew up to above $110,000 just before Elon Musk's SNL appearance. Instead of cashing out some I held it all and it crashed right the fuck down to around $10,000. Still house money. but my distaste for paying taxes and FOMO cost me money. My plan was also to sell just before his SNL appearance because of the "Buy the Rumor, Sell the News" approach. I think I had a work deadline or something else prevented me from selling and when the price started to go down I just HODL'd it down - haha!

Just remember, nothing goes up forever. Expect a pullback with Solana at some point.

Bitcoin and Ethereum will not crash in 2024 because of Solana. Solana is a lot more centralized than both. It's fast at the expense of security. The trick is to have high decentralization and security, and also a high TPS. That's not easy to achieve. Current methods require a compromise. Rest assured the ETH developers are working on reducing the fees and increasing TPS. The coming upgrade will increase the TPS of the ETH L2's to match that of Solana - apparently. And L2s help with decentralization also. The only issue is that the L2's suppresses the ETH price to a certain extent. The lack of L2s on Solana helps its price.

ETH's current tokenomics is better than Solana's. It's seen -1% deflation often the past few days. The supply is expected to go below 120 million around February 2024. By the end of 2025 the supply is expected to be around 117.7 million. Solana's current inflation is around 5.6%, and will decrease by 15% every year until it will settle with an inflation of around 1.5%.

https://ultrasound.money/

https://www.techopedia.com/ethereum-vs-solana-battle-for-l1

[obsidian]

I don't recall that. Can you quote the post where you did this?

I do recall Obsidian recommending Solana when it was at $250, the absolute peak before its collapse in November 2021.

However, either way, Solana has nothing to do with Bitcoin, other than that in every Bitcoin cycle, we will see a "shiny new thing" with a lower market cap, receive some benefit from BTC's rise, and as a result of that smaller market cap, outperform BTC for a period of time (until it doesn't). The ETH fanboys of last cycle are now learning that lesson, let alone everyone else who dabbed in shitcoinery.

I have received a few personal messages what "alts" I would "recommend". I am reluctant to reply to those, and I have explained before why there is a fundamental distinction between alts, shitcoins, penny stocks, Ponzi and pyramid schemes, venture capital investments, unregistered securities etc, and BITCOIN. However, in case anyone really is interested, to the extent you can classify all this as "crypto", I have around 95% in BTC, and then the remainder 5% in alts as follows:

-ETH
-Filecoin
-ChainLink
-Solana
-Uniswap
-Aave
-1 Inch

That by no means should be taken as a suggestion from me that these are good "investments". However, I am fine to sit on them for the next decade and HODL long term, or offload on any surge. And indeed, it would not surprise me at all if for a period of time they do outperform BTC. They are fun to watch jump around, but not to be taken seriously.

But just remember, shitcoins come and go every cycle. Almost all will fail long term. As opposed to BTC which will always only rise over time. Every shitcoiner is a trading "genius', until they are not. Kind of like the story between the hare and the turtle...

Can you find that Solana post of mine? I have never purchased or traded Solana. But as soon as we hit 2024 (for tax reasons) I will convert some shitcoins to Solana. I still have IOTA from back in 2017/18 when Matt C was all in on it. I remember the IOTA FOMO lol! It's still moving along as a project but turned out to be a disappointment.

[gib]

Here is the only post of French I can find on this topic:

Solana will replace Ethereum.
All layers in one Blockchain
Faster, no fees, decentralized, Web3 leader, payment, transactions, smart contracts, NFT champions..

Soon at 80 then 120, 360, 690, 1400 $

Price was around $60 at that time.

[gib]

And here is the quote from Obsidian for what its worth. Tooke me a while go find it, but a have a good memory!

Seriously I would look at Solana, Cardano, Decentraland. Probably won't hurt grabbing a little Shiba and Doge and HEX. But those are volatile. If you can buy a big dip it could be worth it. I will probably get some Shiba in the future just to play around with. I think Bitcoin and ETH still have a ways to go up. I plan on getting some Bitcoin in the future if there are signs that we have reached the top. Bitcoin is the most stable of cryptos in a bear market. But with all the dollar printing there is no way of knowing when we reach a top.

If the SEC / XRP resolves favorably look for that to go up in value quite a bit. I still have hopes for IOTA. They had many setbacks the past few years but the project has shown some progress lately. However IOTA has been a disappointment. I have not sold my 2018 tokens though.

[Mayday]

Long time since I've participated in this thread, but for what it's worth, I've consolidated all the money I had in crypto into 2 "coins".

Hold 1 Bitcoin and a few thousand in Chainlink. That's it.

"1"

Good thinking!

I am being a total degen. Utter pieces of shit. If I see ‘Spastic Coin’ released I will go all in.

I have the inflationary cycle ending in 2032-2034 which means I see price going back to 25k anyway at some point so I don’t see any reason to rush for long term BTC while we have crypto filled with stupid shitcoins.

It’d be funny if all the pullback crew got burned and we went straight to ATH in Q1 2024 for the ETF approval.

[gib]

Good thinking!

I am being a total degen. Utter pieces of shit. If I see ‘Spastic Coin’ released I will go all in.

Could work quite well, especially if you get timing and risk management right, and scale in / out.

Not for me though other than a bit of fun. I am quite happy simply stacking sats.

I know someone who has been trading a mixture of BTC and alts since 2017. Leverage wipe outs, Fibanachie trends, double witch candles, bla bla, 10X gains, cocaine fueled non-stop 36 hour trading sessions, became an ETH fanboy, etc. And from his initial investment he is up nearly 4x his money. (Started with 1m USD, now worth 3.9m).

I pointed out to him, that had he simply bought BTC at his mid 2017 start date, he would have been up around 16x to 16m, instead of 4x to 3.9m. He was not happy to hear that but that's the truth.

[Flexacon]

Here is the only post of French I can find on this topic:

Price was around $60 at that time.

It was about $18 when he posted this

I hold 1400 SOL in a hard wallet ledger.
I hope to be a millionaire one day.

Could work quite well, especially if you get timing and risk management right, and scale in / out.

....

I pointed out to him, that had he simply bought BTC at his mid 2017 start date, he would have been up around 16x to 16m, instead of 4x to 3.9m. He was not happy to hear that but that's the truth.

You are right here. Most people do mess up as you described. You can even hold someones hand and tell them when to buy and sell with perfect entry and they still find a way to mess up.

I won't mention any alts (although I have already hinted at one I've entered) until post BTC ETF. What I will mention is Hut 8 mining which look undervalued right now compared to Mara and Riot.

[gib]

I am not a huge fan of miners, but, if bought at the right time during a cycle they can rise at a leveraged degree to the underlying asset, but like with gold miners.

Have not looked at any miners specifically, although in general my gut feeling (without even having looked) is that they are likely to be overpriced.

[obsidian]

And here is the quote from Obsidian for what its worth. Tooke me a while go find it, but a have a good memory!

lmao! You had to put some work in! 

I did mention in that post that these assets are volatile. But come to think of it, Bitcoin is also still volatile. It went from $68k to 16k and back to $44k in a relatively short span. Not as volatile as Solana, I'll agree.