Author Topic: Bitcoins - about to hit $5,000 per coin today! (Read 1131790 times)

Bindare_Dundat · « **Reply #4400 on:** January 23, 2021, 03:33:48 AM »

Just pay the taxes. Were all going to be billionaires anyway, hiw much money did you need?

Griffith · « **Reply #4401 on:** January 23, 2021, 08:10:54 AM »

For BTC, do you guys believe we could see a further drop, or that it has consolidated at about 30-32k for now?

Army of One · « **Reply #4402 on:** January 23, 2021, 08:16:53 AM »

Quote from: Griffith on January 23, 2021, 08:10:54 AM

For BTC, do you guys believe we could see a further drop, or that it has consolidated at about 30-32k for now?

Nobody knows.Some like me feel 28 was as low as will go, others think 21.This is repeated everywhere, nobody knows in situations like this, where the Technical Analysis (charts) say its going lower, but the unusual events of the time, covid, mass rush to assets out of fiat etc could invalidate that.Its an unusual time in bitcoins history where the Whales aka the early buyers/miners who held the vast majority of the coins, are trying to dump but every dump is now getting bought up by the now entering Institutions who have far more money and resources.Before when the big holders decided to dump their coins to buy back lower, it was only weak handed retail public they were dumping on who didnt have the money or resolve to buy the dumps without the price cratering.

Humble Narcissist · « **Reply #4403 on:** January 23, 2021, 08:35:16 AM »

Quote from: Bindare_Dundat on January 23, 2021, 03:33:48 AM

Just pay the taxes. Were all going to be billionaires anyway, hiw much money did you need?

Ha, ha, sure you are.

Griffith · « **Reply #4404 on:** January 23, 2021, 12:08:39 PM »

https://www.fxstreet.com/cryptocurrencies/news/ethereum-price-prepares-for-a-massive-breakout-ahead-of-cmes-eth-futures-launch-202101210549

Ethereum price prepares for a massive breakout ahead of CME's ETH futures launch

The crypto community awaits the launch of CME Ether futures on February 8.
The derivatives are anticipated to be a game-changer for Ethereum amid the new record high. Technicals and on-chain metrics suggest that Ethereum is poised to rally to a new all-time high of around $1,700.

According to David Grider, an analyst at Fundstrat Global Advisors, Ethereum can hit $10,500 by the end of 2021. The medium-term technical outlook points to highs of $3,000.

Theoak* · « **Reply #4405 on:** January 23, 2021, 12:47:57 PM »

Quote from: Bindare_Dundat on January 22, 2021, 01:01:34 PM

yeah, I dont understand.

bitcoin is a protocol for money in the same way as the internet is a protocol for information. do we have 7500 different internets? do we have "potentially disruptive development in the alternative internet space"? why not? the innovation in the webspace is happening within the network. innovation and disruptive development can and will happen only within the bitcoin protocol.

before we move on, we all need to be on the same network, the same track, the same language.

we are trying to get a unified measurement implemented globally. a measurement for value. imagine the engineers of the world came up with 7500 different ways of measuring length. confusion much, eh? no engineering possible, you know?!

Theoak* · « **Reply #4406 on:** January 23, 2021, 12:51:13 PM »

Quote from: Griffith on January 22, 2021, 07:36:56 AM

https://kryptomoney.com/ethereum-2-0-set-to-cause-halving-the-aftermath-of-ethereums-proof-of-stake/

Ethereum 2.0 Set to Cause “Halving”

Eth 2.0 issuance is expected to be somewhere between 100,000 and 2 million a year, with the most likely scenario being that it will be much less than 2 million.

ETH Supply to Be Halved- presently, Ethereum has about 4.7 million ETH in issuance yearly, with ETH 2.0, ETH supply will range between 100,000 and 2 million annually, apparently less than 2 million.

Halving Will Be Accompanied by “Burning”- following every significant increase in transaction volumes, the total ETH in circulating supply will be reduced due to “burning”.

Explaining what was meant by “burning”, Buterin said that the initial transaction fees charged by the protocol will be halved, the first part goes to the miner as a ‘reward’, while the other part just gets burnt.

New development and innovation will be added to the existing Bitcoin network backbone as 2nd-layer add-ons (LN is one such example and there are, and will be, others). Bitcoin is currently a huge decentralized network, the size of which the world has never seen before. It is by far the fastest computational entity currently in existence on earth. This achievement is not easy to replicate. Apart from its vast size, it possesses features no other network of its kind possesses. Bitcoin is decentralized, trustless, immutable, borderless, scalable, super-hardened, super-robust, deflationary, scarce, not owned by any specific entity. It's all of the above and more. All at the same time. These are not blockchain properties, they are Bitcoin properties.

Just as new, innovative internet technologies are added on top of the tried, tested and robust TCP/IP layer, so will new, innovative technologies be added on top of the Bitcoin network backbone. There's no need to reinvent the wheel when the wheel is the optimal strategy. There are 100s of car brands, but their products all use wheels, because anything else is sub-optimal. Bitcoin is the "wheel" of the digital monetary revolution, and it will be used for decades to come. We, as Bitcoin HoDLers, are now tapping on the fundamental building block of a monetary instrument that will shake the foundations of the world's financial and wealth infrastructure. The avalanche has started, it's getting bigger, and it's unstoppable.

If anyone thinks an altcoin can easily replace all of the above, he is deluded. It's just a matter of time. You can either understand the tech, realise its potential and embrace it, or wait until you are forced to do so. It's up to you.

Mayday · « **Reply #4407 on:** January 23, 2021, 01:03:32 PM »

Quote from: Griffith on January 23, 2021, 08:10:54 AM

For BTC, do you guys believe we could see a further drop, or that it has consolidated at about 30-32k for now?

Army will be correct that it will tap 28k.

I am saying ballpark 21k, 14 day timeframe. That will either be a wick or a close.

Mayday · « **Reply #4408 on:** January 23, 2021, 01:17:41 PM »

Quote from: Griffith on January 23, 2021, 12:08:39 PM

The crypto community awaits the launch of CME Ether futures on February 8.
The derivatives are anticipated to be a game-changer for Ethereum amid the new record high. Technicals and on-chain metrics suggest that Ethereum is poised to rally to a new all-time high of around $1,700.

According to David Grider, an analyst at Fundstrat Global Advisors, Ethereum can hit $10,500 by the end of 2021. The medium-term technical outlook points to highs of $3,000.

The week CME launched futures for Bitcoin they shorted it and it crashed.......

Just sayin.....

To put that guy’s forecast into perspective:

Grider’s forecast for BTC end 2021 is 40k which might be ok (could be a tad high).

ETH @ 10.5k means a ratio of 0.26 vs today’s 0.038. A ratio of 0.15 would make ETH the same size as BTC. A ratio of 0.26 means he thinks ETH will be the overwhelming market leader by year end and BTC falling massively behind.

I don’t have a prob believing in a 40k year end price. But ETH to dwarf BTC in 11 months time? I think we might see a permanent ratio increase but that might be 0.04 by year end not 0.26.....

His forecast would essentially mean square, microstrategy and grayscale all being billion dollar purchases of ETH instead of BTC.......

SOMEPARTS · « **Reply #4409 on:** January 23, 2021, 01:41:21 PM »

This last couple pages showing the prospects for manipulation and tax issues...

Answer from the crypto cult "yeah, but..."

Theoak* · « **Reply #4410 on:** January 23, 2021, 02:33:47 PM »

Quote from: SOMEPARTS on January 23, 2021, 01:41:21 PM

This last couple pages showing the prospects for manipulation and tax issues...

Answer from the crypto cult "yeah, but..."

Bitcoin is the first global 24/7 market that everyone and their grandma can participate in without permission. almost all bitcoiners are able to sell all or at least some of their stack with a stroke of a key. In contrast to almost all other financial products, where brokers, opening hours and other reasons create a friction that does not allow anyone to play nervously around with live changing amounts of money.
This makes bitcoin, this unique global 24/7 market, structurally susceptible to media campaigns, FUD campaigns, online marketing spin doctors. (Manipulation)
As long as the mindset of "buy&sell" smart, of "it can go to zero, so always be aware and have your sell trigger ready and alert" persists, FUD induced selling will be a thing.

There are CEO's of IT related companies who panic sell their btc stash at the local bottom because they hear "double spend OMG!!1!!!"

Try inserting FUD about van Goghs paintings and see how many art collectors will panic sell their van Goghs. not a single one. tell weak hand bitcoiners that china will use the bitcoin kill switch tomorrow and you will have some that are happy to panic sell their entire stash within a few minutes..
This is also one of the reasons for the high volatility. Over time this will correct itself.

Matt · « **Reply #4411 on:** January 23, 2021, 04:43:24 PM »

Quote from: thegamechanger on June 18, 2015, 12:43:20 PM

sounds risky, ill invest my money in an old hardcore cellar gym rather.

This aged well.

SOMEPARTS · « **Reply #4412 on:** January 23, 2021, 05:32:07 PM »

Quote from: Theoak* on January 23, 2021, 02:33:47 PM

Bitcoin is the first global 24/7 market that everyone and their grandma can participate in without permission. almost all bitcoiners are able to sell all or at least some of their stack with a stroke of a key. In contrast to almost all other financial products, where brokers, opening hours and other reasons create a friction that does not allow anyone to play nervously around with live changing amounts of money.
This makes bitcoin, this unique global 24/7 market, structurally susceptible to media campaigns, FUD campaigns, online marketing spin doctors. (Manipulation)
As long as the mindset of "buy&sell" smart, of "it can go to zero, so always be aware and have your sell trigger ready and alert" persists, FUD induced selling will be a thing.

There are CEO's of IT related companies who panic sell their btc stash at the local bottom because they hear "double spend OMG!!1!!!"

Try inserting FUD about van Goghs paintings and see how many art collectors will panic sell their van Goghs. not a single one. tell weak hand bitcoiners that china will use the bitcoin kill switch tomorrow and you will have some that are happy to panic sell their entire stash within a few minutes..
This is also one of the reasons for the high volatility. Over time this will correct itself.

Cliff notes:

"yeah but..."

Marty Champions · « **Reply #4413 on:** January 23, 2021, 05:37:37 PM »

You cant by shit with crypto dumbasses

Bindare_Dundat · « **Reply #4414 on:** January 23, 2021, 05:38:55 PM »

Quote from: Marty Champions on January 23, 2021, 05:37:37 PM

You cant by shit with crypto dumbasses

Lol.ok.

Over 100,000 merchants worldwide accept bitcoin. Notable ones include Microsoft and Expedia, as well as the online electronics retailer Newegg. ... You can use bitcoin to buy a gift card and then shop at those retailers or another one of the 200-some that they work with, including giants like Nike, Target and Starbucks.

Marty Champions · « **Reply #4415 on:** January 23, 2021, 05:47:23 PM »

Quote from: Bindare_Dundat on January 23, 2021, 05:38:55 PM

Lol.ok.

Over 100,000 merchants worldwide accept bitcoin. Notable ones include Microsoft and Expedia, as well as the online electronics retailer Newegg. ... You can use bitcoin to buy a gift card and then shop at those retailers or another one of the 200-some that they work with, including giants like Nike, Target and Starbucks.

well its not encrypted if u do buisness with corporations , what a lie

SOMEPARTS · « **Reply #4416 on:** January 23, 2021, 05:50:16 PM »

Quote from: Bindare_Dundat on January 23, 2021, 05:38:55 PM

Lol.ok.

Over 100,000 merchants worldwide accept bitcoin. Notable ones include Microsoft and Expedia, as well as the online electronics retailer Newegg. ... You can use bitcoin to buy a gift card and then shop at those retailers or another one of the 200-some that they work with, including giants like Nike, Target and Starbucks.

"yeah, but..."

Reads like ad copy for a Bitcoin lobbyist, haha.

Theoak* · « **Reply #4417 on:** January 23, 2021, 08:28:03 PM »

Quote from: SOMEPARTS on January 23, 2021, 05:32:07 PM

Cliff notes:

"yeah but..."

I understand.

Griffith · « **Reply #4418 on:** January 24, 2021, 12:41:45 AM »

Quote from: Theoak* on January 23, 2021, 12:51:13 PM

New development and innovation will be added to the existing Bitcoin network backbone as 2nd-layer add-ons (LN is one such example and there are, and will be, others). Bitcoin is currently a huge decentralized network, the size of which the world has never seen before. It is by far the fastest computational entity currently in existence on earth. This achievement is not easy to replicate. Apart from its vast size, it possesses features no other network of its kind possesses. Bitcoin is decentralized, trustless, immutable, borderless, scalable, super-hardened, super-robust, deflationary, scarce, not owned by any specific entity. It's all of the above and more. All at the same time. These are not blockchain properties, they are Bitcoin properties.

Just as new, innovative internet technologies are added on top of the tried, tested and robust TCP/IP layer, so will new, innovative technologies be added on top of the Bitcoin network backbone. There's no need to reinvent the wheel when the wheel is the optimal strategy. There are 100s of car brands, but their products all use wheels, because anything else is sub-optimal. Bitcoin is the "wheel" of the digital monetary revolution, and it will be used for decades to come. We, as Bitcoin HoDLers, are now tapping on the fundamental building block of a monetary instrument that will shake the foundations of the world's financial and wealth infrastructure. The avalanche has started, it's getting bigger, and it's unstoppable.

If anyone thinks an altcoin can easily replace all of the above, he is deluded. It's just a matter of time. You can either understand the tech, realise its potential and embrace it, or wait until you are forced to do so. It's up to you.

From 3:55 Raoul Pal gives his opinion on Ethereum:

He believes Ethereum is getting adopted faster and could potentially have a bigger market cap over time. He also believes a platform is more valuable than an asset.

And says he's not talking about a flippening happening 'immediately'.

Also, with Metcalfe's law, the more people that enter a network and the more network connections, the more it goes up in value.

When BTC reached a million wallets, that price is also 'exactly the same' as when ETH reached a million wallets.

On a side note, Ethereum currently can do 60 transactions per second, Ethereum 2 will be able to do 100 000 and Bitcoin can do a maximum of 4.6 transactions per second. Visa can apparently handle about 24 000 transactions per second.

Ethereum is also currently used by several major banks including JPMorgan. Amazon and Microsoft Azure also use Ethereum.

It also now settles $12 billion in transactions daily, $3 billion more than Bitcoin.

Bindare_Dundat · « **Reply #4419 on:** January 24, 2021, 01:53:40 AM »

Quote from: Bindare_Dundat on January 21, 2021, 01:59:31 AM

Moved 30% BTC into Ethereum last night for the short term.

Ethereum climbing.

gib · « **Reply #4420 on:** January 24, 2021, 03:29:49 AM »

Quote from: Griffith on January 24, 2021, 12:41:45 AM

On a side note, Ethereum currently can do 60 transactions per second, Ethereum 2 will be able to do 100 000 and Bitcoin can do a maximum of 4.6 transactions per second. Visa can apparently handle about 24 000 transactions per second.

On the 2nd layer lightening network, BTC transactions will be able to scale to over 100,000 per second. That will then be reconciled on the base layer of Bitcoin. So you get the speed of a visa-like payment, with the security of something far more solid than the fait money that underlies Visa fiat transactions. Which is why, of course, Visa, PayPay, Square, and many others, are offering BTC as an underlying store of base value.

Eth is not a store of value. It is a platform. Eth can be infinitely produced - it is not inherently or mathematically scarce like Bitcoin is. That will however, not stop people treating it as a speculative instrument, (at least in the shot-term).

obsidian · « **Reply #4421 on:** January 24, 2021, 03:55:13 AM »

https://www.nasdaq.com/articles/why-ethereum-is-the-most-compelling-alternative-to-bitcoin-today-2021-01-21

obsidian · « **Reply #4422 on:** January 24, 2021, 03:57:07 AM »

Quote from: Griffith on January 24, 2021, 12:41:45 AM

From 3:55 Raoul Pal gives his opinion on Ethereum:

He believes Ethereum is getting adopted faster and could potentially have a bigger market cap over time. He also believes a platform is more valuable than an asset.

And says he's not talking about a flippening happening 'immediately'.

Also, with Metcalfe's law, the more people that enter a network and the more network connections, the more it goes up in value.

When BTC reached a million wallets, that price is also 'exactly the same' as when ETH reached a million wallets.

On a side note, Ethereum currently can do 60 transactions per second, Ethereum 2 will be able to do 100 000 and Bitcoin can do a maximum of 4.6 transactions per second. Visa can apparently handle about 24 000 transactions per second.

Ethereum is also currently used by several major banks including JPMorgan. Amazon and Microsoft Azure also use Ethereum.

It also now settles $12 billion in transactions daily, $3 billion more than Bitcoin.

I want to see Ethereum go much higher. It is very undervalued IMO at $1300-1400. I won't sell at these prices. I might consider selling some at 10K. And then buy back in if prices dip.

Griffith · « **Reply #4423 on:** January 24, 2021, 04:08:25 AM »

Quote from: gib on January 24, 2021, 03:29:49 AM

On the 2nd layer lightening network, BTC transactions will be able to scale to over 100,000 per second. That will then be reconciled on the base layer of Bitcoin. So you get the speed of a visa-like payment, with the security of something far more solid than the fait money that underlies Visa fiat transactions. Which is why, of course, Visa, PayPay, Square, and many others, are offering BTC as an underlying store of base value.

Eth is not a store of value. It is a platform. Eth can be infinitely produced - it is not inherently or mathematically scarce like Bitcoin is. That will however, not stop people treating it as a speculative instrument, (at least in the shot-term).

As mentioned several large banks such as JPMorgan and Santander are already using Ethereum. Amazon is apparently as well.

All stablecoins use Ethereum. Central banks could as well.

The Reserve Bank of Australia, Thailand, Hong Kong and France are also considering using Ethereum for the issuing of 'central bank digital currency' (CBDC). The company they are using, 'Consenys', uses Ethereum. The South African Reserve Bank (SARB) is also experimenting with using Ethereum.

https://www.ledgerinsights.com/reserve-bank-of-australia-wholesale-cbdc-ethereum/

Etnereum appearing in several CBDC projects

Today the Reserve Bank of Australia announced its planning a proof of concept (PoC) for a wholesale central bank digital currency (CBDC) based on distributed ledger technology (DLT), or more specifically, Ethereum blockchain technology.

Over the past few weeks, ConsenSys has announced involvement in multiple projects with central banks, pointing to several central banks exploring Ethereum technology. Last week, Consensys declared it’s developing a PoC with the Bank of Thailand for retail CBDC, or digital Baht.

Up to now, its CBDC initiative used R3’s Corda technology. ConsenSys is also partnering with the Hong Kong Monetary Authority (HKMA) for the cross-border payment trial with Thailand, as part of the second phase of Project Inthanon-LionRock.

In Europe, Consensys announced a collaboration with Societe Generale Forge on CBDC tests with the Banque de France.

obsidian · « **Reply #4424 on:** January 24, 2021, 04:12:45 AM »

USD and other fiat currencies are in a hyperinflationary collapse against many cryptos including Bitcoin, Ethereum, Litecoin and others. This is what happens when banks keep printing fiat currencies.

The beauty of Bitcoin and others is the finite supply. It is now a major milestone for a major investor to acquire 50,000 BTC. Think about that! And it is becoming incredible hard to get anymore. The same thing will happen to Ethereum. And with Ethereum they are now considering burning ETH to limit the supply.

Bitcoin was around $1000 in January 2017. Then it shot up to $19,500 by the end of the year.

Ethereum was around $1000 on January 4th 2021. So how high could it go by the end of the year? I have seen estimates of up to $27,000! Time will tell. But we know the government will keep printing dollars.