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

[Flexacon]

FWIW I have started buying tokens already -85% down that I follow/own already.

When mkt cap is this low, you start buying.

I bought something down 99%. I'm a legit whale and advisor to the project now 

But ETH never really got close to its ATH of 4700 it only got to 4100.  So same play?  If and when ETH gets ETF approval it should pump to 5,000 which will have massive whale selling into ETF buyers?

You need to think of ETH as something that did a stock split because that's basically been the effect of L2s

ETH maxis putting their hopes into the ETF will be left scratching their heads if/when it gets approved (but without staking rewards) and does almost nothing for the price.

[SouJerz]

I bought something down 99%. I'm a legit whale and advisor to the project now 

You need to think of ETH as something that did a stock split because that's basically been the effect of L2s

ETH maxis putting their hopes into the ETF will be left scratching their heads if/when it gets approved (but without staking rewards) and does almost nothing for the price.

DAMNNNN!  Shots fired at Obsidian!

[Flexacon]

DAMNNNN!  Shots fired at Obsidian!

Not really. It's more shots at people who think ETH price will do what BTC did with the ETF. So basically you lol

Obsidian is happy doing his thing with ETH and 5%ish staking. I've explained previously to him that I wouldn't be happy with that. His issue is now is more with the SEC and their overreach. I agree with him and was talking about that stuff going back a couple of years.

Price of ETH will go up late cycle just like it always has. Maybe it all lines up though. My thinking out loud top is November and Blackrock ETH ETF  deadline is September. Sept/Oct to Nov/Dec would be the ETH bullrun with or without an ETF. ETF would be a great narrative for run.

[SouJerz]

Not really. It's more shots at people who think ETH price will do what BTC did with the ETF. So basically you lol

Obsidian is happy doing his thing with ETH and 5%ish staking. I've explained previously to him that I wouldn't be happy with that. His issue is now is more with the SEC and their overreach. I agree with him and was talking about that stuff going back a couple of years.

Price of ETH will go up late cycle just like it always has. Maybe it all lines up though. My thinking out loud top is November and Blackrock ETH ETF  deadline is September. Sept/Oct to Nov/Dec would be the ETH bullrun with or without an ETF. ETF would be a great narrative for run.

I’m all about stacking satoshi’s not an ether fan, but I like investing in everything. I would buy dog shit for a dollar today if it’s gonna be 2 dollars tomorrow.

[obsidian]

It’s why it’s so hard to hit a new ATH in crypto in 2nd or 3rd cycles. Once it has an ATH we know where the bar is set for trapped buyers. They will dump hard as soon as price gets close.

BTC hit an ATH by +7% and whales were dumping like crazy into the ETF buyers. Now everyone praying ‘the next pump is a week away and will go to 100k for sure’. Yet we know at 74k the sell pressure comes in again, maybe you get to 75k next time 🤔

Solana was the only existing coin coming close to its prior ATH and trapped people dumped before the ATH so it couldn’t get there.

Meanwhile new stuff on Solana and ETH hit ATH like crazy because nobody knows what the top will be and this is where all the Degens are buying.

Actually, BNB and ETH both came closer to their ATH prices recently.

Solana reached 77% of its ATH price: $201 / $259

BNB reached 90% of its ATH price: $631 / $699

ETH reached  83% of its ATH price: $4,067 / $4,891

[obsidian]

DAMNNNN!  Shots fired at Obsidian!

LOL - I love the ETH FUD. Prices rise when something is oversold or there's extreme negative sentiment. You need to become worried when your grandmother is talking about Solana or Ethereum 

[obsidian]

Pointed these things out on here a long time ago.

Doesn't matter any more. Blackrock and tradfi will strong arm an unpopular solution through to handle the issue. By then Maxis will either be too wealthy to care or a small minority that no ones pays any attention too.

An example of a solution might be to fork bitcoin, make all undeclared and non KYC bitcoin illegal/worth $0 and then if needed eventually double the supply.

Study the gold reserve act 1934

You're assuming the USA will still be the bully able to push the agenda everywhere. I see the US as an entity that will collapse. You can see it crumbling from the inside out.

Doing the forking / supply increase as you suggested would destroy the Bitcoin narrative. What does it offer besides being the first mover, the catchy name, and 21 million cap? That's the selling point.

I bought something down 99%. I'm a legit whale and advisor to the project now 

You need to think of ETH as something that did a stock split because that's basically been the effect of L2s

ETH maxis putting their hopes into the ETF will be left scratching their heads if/when it gets approved (but without staking rewards) and does almost nothing for the price.

L2s is Ethereum's solution for scaling. Solana chose to do all the transactions on L1. How's that working out recently?

Bitcoin will also need L2s to be able to scale. And it has the mining / halving question.

Nothing is perfect. It is a tricky problem to solve: Maintain Decentralization & Scale.

[obsidian]

Ponder what the powers that be want and that’s the answer.

That’s why I gave my nightmare scenario.

Wall St now control the largest inflows/outflows. The US is the largest player in mining and shortly will control the network. It’s end game now for the leaders who want to use blockchain to remove freedom and privacy.

Think of those evil movies where the innocent must go willingly to the devil. CBDC are coming and the innocent must willingly give up their privacy……. This is the game being played at the moment.

EDIT I forgot to add, the largest energy event in our lifetime will occur inside of 6yrs (likely inside the next 2-3 which will dwarf the Global Lockdown impact at a sustained level. Saylor and maxis are betting against this, personally I’m betting on the Overlords to win, not the maxis.

Well, that sure makes me want BTC more... NOT! The US National debt will soon reach $35 trillion. Total US debt already passed $100 trillion. These morons will fuckup Bitcoin just like they fucked everything else.

[Flexacon]

You're assuming the USA will still be the bully able to push the agenda everywhere. I see the US as an entity that will collapse. You can see it crumbling from the inside out.

The USA is holding the rest of the world hostage with the dollar and there is nothing that anyone else can do to change that. Remember BRICKS, yeah no one does

Doing the forking / supply increase as you suggested would destroy the Bitcoin narrative. What does it offer besides being the first mover, the catchy name, and 21 million cap? That's the selling point.

Being Blackrock approved and not some maxi narrative is what will matter to people (money mangers) who have the real money. They'll eat whatever narrative Blackrock decideds to feed them

L2s is Ethereum's solution for scaling. Solana chose to do all the transactions on L1. How's that working out recently?

Bitcoin will also need L2s to be able to scale. And it has the mining / halving question.

Nothing is perfect. It is a tricky problem to solve: Maintain Decentralization & Scale.

You still miss the point and it's not about which L1 or L2 is better. The money to be made from ETH over the last 12-18 months wasn't holding and staking for 5% and it won't be from the ETF, it was providing ETH liquidity to the new L2s and restaking protocols.

People who knew that (mostly ETH whales) have already cashed in this cycle. Any ETH price appreciation now is just a bonus for them. Meanwhile the rest of the ETH community are waiting patiently for their turn to pump whilst being completely oblivious to the ETH ecosystem having been milked dry already.

[obsidian]

You still miss the point and it's not about which L1 or L2 is better. The money to be made from ETH over the last 12-18 months wasn't holding and staking for 5% and it won't be from the ETF, it was providing ETH liquidity to the new L2s and restaking protocols.

People who knew that (mostly ETH whales) have already cashed in this cycle. Any ETH price appreciation now is just a bonus for them. Meanwhile the rest of the ETH community are waiting patiently for their turn to pump whilst being completely oblivious to the ETH ecosystem having been milked dry already.

Just like Saylor is willing to ride Bitcoin to zero so am I.

Ethereum has more long term hodlers than Bitcoin now. And more wallets. And new wallets are being added. As I mentioned, there's a lot of ETH FUD going around. Perhaps it is Blackrock and others trying to suppress the price so they can get in on a lower floor. I don't think $4,000 was the high for Ethereum in this cycle. But we'll see how it all shakes out.

You seem to be optimistic about the dollar's future. The rest of the world is growing tired of allowing the USA to pass its debt on to everyone else. That party is going to end. And when it does you'll see the price of everything going up.

https://nairametrics.com/2024/05/06/ethereum-blockchain-adds-267000-fresh-wallets-beating-two-year-record/

Ethereum blockchain adds 267,000 fresh wallets beating two year record

Ethereum has recorded a significant surge in new wallet creations, adding a staggering 267,000 new wallets to the platform. This recent influx marks the highest number of new wallets recorded in over two years, signifying a massive resurgence in interest in the Ethereum ecosystem by crypto users.

https://www.baltictimes.com/ethereum_s_record_number_of_hodlers_downgrades_bitcoin_to_second_place/

Ethereum’s record number of hodlers downgrades Bitcoin to second place

According to IntoTheBlock data, addresses that have held Ether for more than 12 months currently make up 72% of all Ethereum holders, reaching the highest level since 2018. At the moment, Ethereum counts approximately 73.9 million long-term holders, after a 44.2% increase, while Bitcoin’s holder figures stand at 33.6 million. 

Hodlers play an important role in the health and performance of digital assets. Coins backed by a large number of holders tend to be less susceptible to market volatility and are generally perceived as more resilient and trustworthy. So, the fact that Ethereum’s holder community is growing is certainly a positive development for the network.

In addition, Ethereum also outclasses Bitcoin in terms of whales, which refers to persons or entities that own a large amount of a single cryptocurrency, between 1000 and 10,000 coins. By the latest count, the number of Ethereum whale addresses has recently reached 5,370, marking a 12% yearly increase, while Bitcoin whale wallets amount to 1,920.

This proves that Bitcoin is not the only coin boasting record-breaking performances in the cryptocurrency ecosystem. Ethereum outshines the original crypto in many ways, so even though there’s still a huge price discrepancy between the two, the top altcoin continues to attract an increasing number of investors.

[SouJerz]

DOGE TO A DOLLAR!!

My cousin just got back from visiting El Salvador and said someone at the supermarket paid for groceries with Bitcoin only took about 15 mins to find the machine to process the transaction and then figure out how to use the machine. 

What about quantum computers and being able to hack Bitcoin?

[Flexacon]

Just like Saylor is willing to ride Bitcoin to zero so am I.

Ethereum has more long term hodlers than Bitcoin now. And more wallets. And new wallets are being added. As I mentioned, there's a lot of ETH FUD going around. Perhaps it is Blackrock and others trying to suppress the price so they can get in on a lower floor. I don't think $4,000 was the high for Ethereum in this cycle. But we'll see how it all shakes out.

You seem to be optimistic about the dollar's future. The rest of the world is growing tired of allowing the USA to pass its debt on to everyone else. That party is going to end. And when it does you'll see the price of everything going up.

https://nairametrics.com/2024/05/06/ethereum-blockchain-adds-267000-fresh-wallets-beating-two-year-record/

Ethereum blockchain adds 267,000 fresh wallets beating two year record

Ethereum has recorded a significant surge in new wallet creations, adding a staggering 267,000 new wallets to the platform. This recent influx marks the highest number of new wallets recorded in over two years, signifying a massive resurgence in interest in the Ethereum ecosystem by crypto users.

https://www.baltictimes.com/ethereum_s_record_number_of_hodlers_downgrades_bitcoin_to_second_place/

Ethereum’s record number of hodlers downgrades Bitcoin to second place

According to IntoTheBlock data, addresses that have held Ether for more than 12 months currently make up 72% of all Ethereum holders, reaching the highest level since 2018. At the moment, Ethereum counts approximately 73.9 million long-term holders, after a 44.2% increase, while Bitcoin’s holder figures stand at 33.6 million. 

Hodlers play an important role in the health and performance of digital assets. Coins backed by a large number of holders tend to be less susceptible to market volatility and are generally perceived as more resilient and trustworthy. So, the fact that Ethereum’s holder community is growing is certainly a positive development for the network.

In addition, Ethereum also outclasses Bitcoin in terms of whales, which refers to persons or entities that own a large amount of a single cryptocurrency, between 1000 and 10,000 coins. By the latest count, the number of Ethereum whale addresses has recently reached 5,370, marking a 12% yearly increase, while Bitcoin whale wallets amount to 1,920.

This proves that Bitcoin is not the only coin boasting record-breaking performances in the cryptocurrency ecosystem. Ethereum outshines the original crypto in many ways, so even though there’s still a huge price discrepancy between the two, the top altcoin continues to attract an increasing number of investors.

I've been bullish on the USA and the dollar for a long time, only because I wanted to be on the winning team. They keep winning and fading it just hurts those that do.

You still miss the point. You've gone now from Sol comparison to BTC.

The point is only about ETH and the ETH ecosystem only. If your ETH play is to buy, hold, stake and wait for the ETF which is what most have been doing then it was the wrong set up. The ETH set up was to buy/hold and provide liquidity for L2s, and restaking. That was gravy train and it has already left the station.

[Mayday]

SPX back at all time high with the turn around/up only literally starting at the point highlighted above. Even the biggest markets are gamed and yet people still believe in fundamental trading LMAO.

This is looking bullish crypto as DXY has finally started dropping too, close to breaking a treandline soon and if that happens it could be lambo time.

Shows you nobody knows what the CPI number actually means, it’s flat and we rally to ATH 😂

I closed my China ETF position yesterday for +27% in 2 months. That was a nice one when people told me it’d be dog shit.

It’s great to see BTC bounce. I figured 68k after we hit the lows. I have one pattern for every ATH from 2011 which allows for an ATH in July but I still have it 76k bound.

We had euphoria leading up to the top. That was the 1M talk, people talking of no coiners being lower in society etc.. Then we got anger after 74k as people were underwater. Now we have bargaining where 99% in my feed are quoting 90k targets because that’s only +50%…… we aren’t even above 70k and people are gloating over anyone bearish 🤦 

Over 4yrs we have 65k-69k-74k. Even the dumbest of retards would look at that and assume 79k is next top.

[Amerian Muscle]

People love pulling outrageous and conveniently round numbers out of their ***. I can't say that I am an exception to that rule

[Mayday]

Well, that sure makes me want BTC more... NOT! The US National debt will soon reach $35 trillion. Total US debt already passed $100 trillion. These morons will fuckup Bitcoin just like they fucked everything else.

Does it matter is the question. Look at most markets, operate buyers and sellers betting against themselves, nothing to do with valuing the company. Who cares who mines BTC when 100% are only in it to make money.

Who cares about the debt. Everyone else is rotten. USD strongest in decades. Oz Budget came out and people went apeshit over all sorts of things. Meanwhile I grabbed some specific data, reverse engineered their model and can see the RBA are planning for an energy shock in 2025 with 7.5% rates in 2027-28. Property will continue

A liquidity shock in credit markets and an energy shock should be fun.

[obsidian]

I've been bullish on the USA and the dollar for a long time, only because I wanted to be on the winning team. They keep winning and fading it just hurts those that do.

You still miss the point. You've gone now from Sol comparison to BTC.

The point is only about ETH and the ETH ecosystem only. If your ETH play is to buy, hold, stake and wait for the ETF which is what most have been doing then it was the wrong set up. The ETH set up was to buy/hold and provide liquidity for L2s, and restaking. That was gravy train and it has already left the station.

It depends on your timeline. Go look at the charts and zoom out. You're calling doom and gloom and painting a rosy picture for the dollar which is doomed.

I made no play. I mined ETH for 4 years and bought some tokens 4 years ago. I made one trade when Elon was pumping Doge. I sold around 6 ETH and bought around 293,000 Doge with it. Then the price started going up to the point where, within a day, I could sell half of the Doge and buy back my original 6 ETH. If I had waited a few months longer I could have sold all that Doge for 45 ETH, or 3 BTC. All thanks to Elon - lol! Timing is the tricky part.

Here's the ETH chart. Just like Bitcoin and any other cryptocurrency it's seen ups and downs. But overall the trend is up relative to the dollar. I am not a day trader. I couldn't care less what it does from day to day. If it crashes 25%, or even 50%. Makes no difference to me. If it goes to $5000 I might sell 2-4 ETH but that's it.

[obsidian]

Does it matter is the question. Look at most markets, operate buyers and sellers betting against themselves, nothing to do with valuing the company. Who cares who mines BTC when 100% are only in it to make money.

Who cares about the debt. Everyone else is rotten. USD strongest in decades. Oz Budget came out and people went apeshit over all sorts of things. Meanwhile I grabbed some specific data, reverse engineered their model and can see the RBA are planning for an energy shock in 2025 with 7.5% rates in 2027-28. Property will continue

A liquidity shock in credit markets and an energy shock should be fun.

USD is only strong because it has been the reserve currency. Those days are numbered. Russia is much more sensible with its debt. And they have politicians like Putin who's lightyears better than the pathetic swamp creatures we have here in DC.

[SouJerz]

It depends on your timeline. Go look at the charts and zoom out. You're calling doom and gloom and painting a rosy picture for the dollar which is doomed.

I made no play. I mined ETH for 4 years and bought some tokens 4 years ago. I made one trade when Elon was pumping Doge. I sold around 6 ETH and bought around 293,000 Doge with it. Then the price started going up to the point where, within a day, I could sell half of the Doge and buy back my original 6 ETH. If I had waited a few months longer I could have sold all that Doge for 45 ETH, or 3 BTC. All thanks to Elon - lol! Timing is the tricky part.

Here's the ETH chart. Just like Bitcoin and any other cryptocurrency it's seen ups and downs. But overall the trend is up relative to the dollar. I am not a day trader. I couldn't care less what it does from day to day. If it crashes 25%, or even 50%. Makes no difference to me. If it goes to $5000 I might sell 2-4 ETH but that's it.

what are you buying with the 4 ETH? re-investing or vaca?

[Flexacon]

It depends on your timeline. Go look at the charts and zoom out. You're calling doom and gloom and painting a rosy picture for the dollar which is doomed.

I made no play. I mined ETH for 4 years and bought some tokens 4 years ago. I made one trade when Elon was pumping Doge. I sold around 6 ETH and bought around 293,000 Doge with it. Then the price started going up to the point where, within a day, I could sell half of the Doge and buy back my original 6 ETH. If I had waited a few months longer I could have sold all that Doge for 45 ETH, or 3 BTC. All thanks to Elon - lol! Timing is the tricky part.

Here's the ETH chart. Just like Bitcoin and any other cryptocurrency it's seen ups and downs. But overall the trend is up relative to the dollar. I am not a day trader. I couldn't care less what it does from day to day. If it crashes 25%, or even 50%. Makes no difference to me. If it goes to $5000 I might sell 2-4 ETH but that's it.

Holding something is a "play" and I never said trading anything was the "play".

You hold ETH, transfer onto the L2 and leave it there. This is providing liquidity. The L2 airdrops you a bunch of their tokens. You sell their tokens and you remove your ETH/liquidty. You put your ETH to work for you, got it all back and made mucho bucks

You hold ETH which you stake. You then put your staked ETH in a restaking protocol. They give you crazy yield and/or points (thanks rehypothecation). You cash out your yeild/points and take back your staked ETH. You put your ETH to work for you, got it all back and made mucho bucks

This was the gravy train. It had nothing to do with Sol, Btc or trading and circling back to my original point, ETH ETF matters very little to those ETH HOLDERS who took the above steps.

USD is only strong because it has been the reserve currency. Those days are numbered. Russia is much more sensible with its debt. And they have politicians like Putin who's lightyears better than the pathetic swamp creatures we have here in DC.

You are thinking about the USD in linear terms. It's not about how strong the USD is, a weaker dollar is actually preferential. It's about control through USD on a global scale and in that regards USD/USA has never been stronger.

Fixating on politics and politicians is a waste of time as it doesn't change any of this.

Ironically some believe bitcoin saves you from this tyranny and that's why we have this thread with 10k posts

[SouJerz]

I for one welcome our new Chinese overlords!

[Mayday]

USD is only strong because it has been the reserve currency. Those days are numbered. Russia is much more sensible with its debt. And they have politicians like Putin who's lightyears better than the pathetic swamp creatures we have here in DC.

It’s strong because the US is strong. I’d prefer to be on the side who is winning.

Japan went to 236% debt to GDP. The rest of us are around 120%. Even on the current rate of spend when I did quick numbers we can get out to 2050 no sweat. That’s 25yrs+ ahead of people being wrong, talking of US collapse.

It’s no different to CPI and employment data, the masses dont want to spend the time to understand it so they say it’s fake. We have 8yrs left. That’s a lot of time to be incredibly wrong about economics. Go pull news articles from the late 40s/early 50s. Go pull news articles from the early 70s/ early 80s.

The question I asked myself in 2020 was what did people say, feel, do in these cycles. The data sets won’t answer that so I pulled archived media. The articles written in the 40s/50s read like they are taking place today. Then Consider what followed these cycles was the biggest tech Booms of their generation.

[obsidian]

Holding something is a "play" and I never said trading anything was the "play".

You hold ETH, transfer onto the L2 and leave it there. This is providing liquidity. The L2 airdrops you a bunch of their tokens. You sell their tokens and you remove your ETH/liquidty. You put your ETH to work for you, got it all back and made mucho bucks

You hold ETH which you stake. You then put your staked ETH in a restaking protocol. They give you crazy yield and/or points (thanks rehypothecation). You cash out your yeild/points and take back your staked ETH. You put your ETH to work for you, got it all back and made mucho bucks

This was the gravy train. It had nothing to do with Sol, Btc or trading and circling back to my original point, ETH ETF matters very little to those ETH HOLDERS who took the above steps.

You are thinking about the USD in linear terms. It's not about how strong the USD is, a weaker dollar is actually preferential. It's about control through USD on a global scale and in that regards USD/USA has never been stronger.

Fixating on politics and politicians is a waste of time as it doesn't change any of this.

Ironically some believe bitcoin saves you from this tyranny and that's why we have this thread with 10k posts

Interesting post. Thanks for sharing. Out of curiosity, on which service provider did you transfer ETH to L2. Isn't that a taxable event? My goal is to avoid paying taxes as much as possible.

I know there are many ways to make more (and lose) money than sitting on big market cap tokens like BTC and ETH. At least staking ETH is better than doing nothing. We'll see how it all shakes out in the long run. The ETH FUD is strong right now. We have been through all this before. I think Ethereum is in a great spot and the L2s are gaining traction. Coinbase's Base does not have a token. And I don't think they plan to have one anytime soon. Ethereum is the native token for Base.

https://help.coinbase.com/en/coinbase/other-topics/other/base

Does Coinbase have future plans for a native token on Base?
We currently do not plan to issue a new network token. ETH will be our native gas token. Be aware that scammers may send fake Base tokens. Avoid interacting with them.

https://www.ccn.com/news/crypto/coinbase-layer-2-home-run-franklin-templeton/

Coinbase Layer 2 is a “Home Run”: Franklin Templeton

KEY TAKEAWAYS
- Franklin Templeton praises Coinbase’s Base platform for leading the SocialFi sector.
- The Base layer 2 prioritizes security and aims for mass adoption with EVM and USDC integration.
- Coinbase holds substantial USDC assets and is actively promoting its adoption on Base.

Investment firm Franklin Templeton, has lauded the progress and expansion of Base, Coinbase’s Ethereum layer 2 scaling solution.

The company said  Base had hit a “home run” due to its adoption in memecoins and social finance applications, including Friend.tech.

[obsidian]

what are you buying with the 4 ETH? re-investing or vaca?

Pay for tech toys. I love computers and have many machines going back decades. I never sell my computers. I still have an original IBM XT with green monitor. The box has dents in it. I need to get it fixed.

[obsidian]

Who cares who mines BTC when 100% are only in it to make money.

It will matter if big enough bombs blow up a mining facility or two. Or a strategic fire. What about a dozen drones? At some point, they will probably have to increase security at Bitcoin mining facilities and add air defenses... A few rocket launchers would not be too expensive to cause major damage.

[obsidian]

It’s strong because the US is strong. I’d prefer to be on the side who is winning.

Japan went to 236% debt to GDP. The rest of us are around 120%. Even on the current rate of spend when I did quick numbers we can get out to 2050 no sweat. That’s 25yrs+ ahead of people being wrong, talking of US collapse.

It’s no different to CPI and employment data, the masses dont want to spend the time to understand it so they say it’s fake. We have 8yrs left. That’s a lot of time to be incredibly wrong about economics. Go pull news articles from the late 40s/early 50s. Go pull news articles from the early 70s/ early 80s.

The question I asked myself in 2020 was what did people say, feel, do in these cycles. The data sets won’t answer that so I pulled archived media. The articles written in the 40s/50s read like they are taking place today. Then Consider what followed these cycles was the biggest tech Booms of their generation.

USA Winning! You won't see this in Russia or China.