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

[SOMEPARTS]

So how.much  btc did you purchase 5 years ago?

Covered my early experience with crypto in a post last page or two.

[FitnessFrenzy]

$ 31,702.29

[Griffith]

https://cointelegraph.com/news/ethereum-will-become-the-main-asset-for-investors-in-2021

Ethereum will become the main asset for investors in 2021

The potential of Ether greatly exceeds Bitcoin, and the community is beginning to understand the value of ETH.

During 2020, more than $1 trillion worth of transactions were recorded on the Ethereum blockchain. These figures exceed the transaction volume of payments giants like PayPal, which is used by over 350 million users and has with average volumes that do not generally exceed $200 billion per quarter.

Despite Bitcoin's leadership in the cryptocurrency market, Ethereum remains the leader of the young decentralized finance industry. Highly popular in the summer of 2020, DeFi lending and staking projects continue to grow, attracting new investments.

The total value locked in decentralized finance since the beginning of 2020 has grown nearly 3,300%, from $687 million to $23.2 billion. And it is Ethereum that is the main platform for the creation and launch of most new DeFi projects and stablecoins.

The emission of stablecoins is constantly growing, as digital assets backed by the value of less-volatile fiat currencies are a very convenient tool for quick settlements between users, for forming trading pairs on crypto exchanges and for saving capital from high volatility in your crypto wallet.

[gib]

Lightening Network for BTC rolled out in Vietnam.

This is going to be really interesting if younger population in those types of countries, all tech savvy and with mobile phones etc start adopting.

[gib]

Oh damn I just assumed old technology would be around forever and would never be replaced by new technology 

Like gold you mean? Nah, 5000 years of history, It lasted pretty well, until BTC came along...

[gib]

https://cointelegraph.com/news/ethereum-will-become-the-main-asset-for-investors-in-2021

Ethereum will become the main asset for investors in 2021

The potential of Ether greatly exceeds Bitcoin...

Potential for what? Usage does not necessarily equate to value. We commonly use air, yet its supply is plentiful, nor do we use air as a source of value. Be careful not to confuse concepts. Same misunderstanding applied during the dot-com boom, when value was equated with "eyeballs".

[Bindare_Dundat]

Potential for what? Usage does not necessarily equate to value. We commonly use air, yet its supply is plentiful, nor do we use air as a source of value. Be careful not to confuse concepts. Same misunderstanding applied during the dot-com boom, when value was equated with "eyeballs".

Carbon tax.

What happened to the big boys that were supposed.reverse the dropping price trend?

Not being sarcastic. Curious what you think is going on? I'm actually welcoming this slow descend. The meteoric rise was nuts.

[SOMEPARTS]

during the dot-com boom, when value was equated with "eyeballs".

Turned out that was 100% true, just wrong timing.

[Griffith]

Potential for what? Usage does not necessarily equate to value. We commonly use air, yet its supply is plentiful, nor do we use air as a source of value. Be careful not to confuse concepts. Same misunderstanding applied during the dot-com boom, when value was equated with "eyeballs".

Growth.

Things like air are generally free, the more people using a product or network usually means more people are paying to use it.

Stablecoins are Ethereum tokens, and as indicated in the graph, their use, such as that of USDC, has skyrocketed.

Even several central banks are considering using Ethereum for their own central bank digital currencies (CBDC).

Several large banks are already using Ethereum.

Like everything, it could go either way, but this indicates good potential for future growth.

[Griffith]

https://www.cointelegraph.com/news/ethereum-s-realized-cap-spikes-to-record-highs-as-capital-floods-in-report/amp

Ethereum’s realized cap spikes to record highs as capital floods in: Report

Ethereum’s realized cap has surged into new all-time highs this month, indicating that new money is rushing to accumulate ETH.

Ethereum’s realized capitalization has increased by nearly 50% in January so far to tag new all-time highs above $70 billion, according to CoinMetrics.

The growth of Ethereum’s realized cap appears to have outperformed that of Bitcoin's last year, with Glassnode reporting that BTC’s realized cap had grown 50% since the beginning of 2020 as of Dec. 15. CoinMetrics’ data indicates Ethereum had seen an 85% increase over the same period.

Blockchain Center’s Flippening Index currently estimates that Ethereum is 71% of the way to surpassing Bitcoin according to eight key metrics — comprising a new all-time high for the indicator.

The index notes Ethereum has already surpassed Bitcoin by transaction fees and transaction count, and estimates that transaction volume and node count are at 99% and 97% of Bitcoin’s respectively.

[Mayday]

‘Capital flooding in’ is so bullish the price crashes.......

Fuck me the disconnect from media to data is massive.

 It does beg the question when emails are spammed advising on share prices about to go for a run it is deemed illegal. Social media has shown to be far more influential than those emails so at what point are these social media ‘opinions’ deemed illegal?

[pellius]

e.g. coinbase

I tried coin base. Too complicated. Wasn't worth the effort. I think that's what's keeping these cryptos from gaining steam. Even with BTC. When I bought some SARMS over the net it was $150. So now I had to figure out how much BTC equals $150. The various exchange sites post different conversions and I notice BTC's value is changing by the second. Anyway, I use the Coinbase site and then the next day the guy tells me I'm $20 short and sends me a screenshot of how much my BTC was worth when he checked it. I'm thinking that, sure, that's what it's worth now but not what it was worth when I sent it. I tell him instead of me sending him another $30 worth of BTC and not knowing the value when he gets it, I want him to tell me exactly how much BTC I have to pay him, and whatever he says, it's final.

People, both buyer and seller, aren't going to put up with that bullshit for mainstream, everyday transactions.

[Humble Narcissist]

I tried coin base. Too complicated. Wasn't worth the effort. I think that's what's keeping these cryptos from gaining steam. Even with BTC. When I bought some SARMS over the net it was $150. So now I had to figure out how much BTC equals $150. The various exchange sites post different conversions and I notice BTC's value is changing by the second. Anyway, I use the Coinbase site and then the next day the guy tells me I'm $20 short and sends me a screenshot of how much my BTC was worth when he checked it. I'm thinking that, sure, that's what it's worth now but not what it was worth when I sent it. I tell him instead of me sending him another $30 worth of BTC and not knowing the value when he gets it, I want him to tell me exactly how much BTC I have to pay him, and whatever he says, it's final.

People, both buyer and seller, aren't going to put up with that bullshit for mainstream, everyday transactions.

This is exactly why it can never work.  I had some Bitcoin in a online casino until I realized I would make more money by doing nothing than actually spending it.  It really has no value.  If I were these guys with thousands or millions in Bitcoin I would be cashing out why they still can.

[Army of One]

This is exactly why it can never work.  I had some Bitcoin in a online casino until I realized I would make more money by doing nothing than actually spending it.  It really has no value.  If I were these guys with thousands or millions in Bitcoin I would be cashing out why they still can.

Im sure many said the same thing when they used the first manufactured coins back in 600BC, no value, why bother, lets keep using food, livestock and women as barter.

[Bindare_Dundat]

This is exactly why it can never work.  I had some Bitcoin in a online casino until I realized I would make more money by doing nothing than actually spending it.  It really has no value.  If I were these guys with thousands or millions in Bitcoin I would be cashing out why they still can.

Huh? How could it have no value but then make more money doing nothing then spending it?


Well if you cant figure it out guess that means no one else will. Yup, selling everything now .

 

[gib]

I tried coin base. Too complicated. Wasn't worth the effort. I think that's what's keeping these cryptos from gaining steam. Even with BTC. When I bought some SARMS over the net it was $150. So now I had to figure out how much BTC equals $150. The various exchange sites post different conversions and I notice BTC's value is changing by the second. Anyway, I use the Coinbase site and then the next day the guy tells me I'm $20 short and sends me a screenshot of how much my BTC was worth when he checked it. I'm thinking that, sure, that's what it's worth now but not what it was worth when I sent it. I tell him instead of me sending him another $30 worth of BTC and not knowing the value when he gets it, I want him to tell me exactly how much BTC I have to pay him, and whatever he says, it's final.

People, both buyer and seller, aren't going to put up with that bullshit for mainstream, everyday transactions.

They were clunky to use in the early days. But really easy to use now. Of course, like any kind of currency transaction, it does require some basic understanding of numbers. But it is real easy these days.

[gib]

[gib]

This sounds like me 5 years ago... but the white paper was wrong.

There is nothing decentralized about a singular crypto ledger....even more concentrated as that platform and its "efficiency" benefits those who would use the ledger to track, tax, etc. The days of free internet are over if you haven't noticed. Bitcoin is the Betamax of money.

Not sure it you are having a laugh, or being serious, but the "decentralized" as aspect is that no single person controls the ledger. Rather verification of validity is distributed. But of course, there is a single, verified ledger. That's the whole point...

[gib]

Growth.

Things like air are generally free, the more people using a product or network usually means more people are paying to use it.

Stablecoins are Ethereum tokens, and as indicated in the graph, their use, such as that of USDC, has skyrocketed.

Even several central banks are considering using Ethereum for their own central bank digital currencies (CBDC).

Several large banks are already using Ethereum.

Like everything, it could go either way, but this indicates good potential for future growth.

You are confusing concepts. The supply of ETH is theoretically infinite. The fact that something is widely used, does not mean it has "value". Think for example of the internet that we all use. The actual underlying protocol is essential, yet its free. For eth to be broadly used and adopted for the purposes that it was designed, it essentially needs to be free.

[Bindare_Dundat]

BTC is awakening from its little slumber, as US funds start Monday trading.

ETH fanboys stand aside and let the big boys back in to dominate the BTC trade...

When?

[SOMEPARTS]

I tried coin base. Too complicated. Wasn't worth the effort. I think that's what's keeping these cryptos from gaining steam. Even with BTC. When I bought some SARMS over the net it was $150. So now I had to figure out how much BTC equals $150. The various exchange sites post different conversions and I notice BTC's value is changing by the second. Anyway, I use the Coinbase site and then the next day the guy tells me I'm $20 short and sends me a screenshot of how much my BTC was worth when he checked it. I'm thinking that, sure, that's what it's worth now but not what it was worth when I sent it. I tell him instead of me sending him another $30 worth of BTC and not knowing the value when he gets it, I want him to tell me exactly how much BTC I have to pay him, and whatever he says, it's final.

People, both buyer and seller, aren't going to put up with that bullshit for mainstream, everyday transactions.

Yes, the space in general is full of youtube hucksters, gambling addicts, day traders and video game dorks. Not exactly a confidence inspiring crowd.

[SOMEPARTS]

Im sure many said the same thing when they used the first manufactured coins back in 600BC, no value, why bother, lets keep using food, livestock and women as barter.

Early gold and silver coins were backed by both intrinsic value as well as financially solvent countries that issued them.

[Griffith]

You are confusing concepts. The supply of ETH is theoretically infinite. The fact that something is widely used, does not mean it has "value". Think for example of the internet that we all use. The actual underlying protocol is essential, yet its free. For eth to be broadly used and adopted for the purposes that it was designed, it essentially needs to be free.

If something is widely used and is paid for, it tends to increase the value of that network, platform or brand.

Use of the internet is ‘free’, but the money paid to use it goes to those who provide the networks. An internet service provider with a large network will tend to be worth much more than one with a small user base.

Comparing it to the internet, Ethereum provides its own network or platform and its currency is ether. 

Raoul Pal argues that Metcalfe's Law and the network effect applies to Ethereum and I tend to agree with this view.

[SOMEPARTS]

Not sure it you are having a laugh, or being serious, but the "decentralized" as aspect is that no single person controls the ledger. Rather verification of validity is distributed. But of course, there is a single, verified ledger. That's the whole point...

Oh, I'm laughing for sure. You can't be serious bragging about Wall Street etc buying this and at the same time claiming somehow it is immune to manipulation. That's the sole reason they are buying.

[gib]

When?

Not sure. Lets see if it establishes a support level at 30K. Some solid stability there may provide a good platform for the next climb.

Expect lots of volatility next 3-4 days. The calm before the storm...