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

[Griffith]

https://decrypt.co/56837/ethereum-blockchain-records-1-billion-transactions

Ethereum Blockchain Records 1 Billion Transactions

The Ethereum network has been averaging over 1 million transactions per day since June 2020.

On its way to another all-time high for price, Ethereum hit another milestone.

According to data from blockchain explorer Etherscan, the Ethereum network reached 1 billion transactions today.

DeFi apps such as Aave and Uniswap allow traders to earn interest on their holdings and swap assets without going through a centralized bank or exchange.

Instead, they rely on Ethereum's infrastructure. And there are many transactions occurring via such protocols. There's now over $35 billion in value locked up in DeFi protocols tracked by DeFi Pulse.

[Bindare_Dundat]

Lol ok. Lets keep our feet on the ground.

[Bindare_Dundat]

Lesson for everyone here, dont get caught up in hype, eth had a nice pump so youtubers are going to make crazy claims while making surprised faces to catch the youtube algorithm.ETH isnt BTC.Not that it wont rise with BTC.BTC has no competitors, ETH has a ton of L1 blockchains snapping at its heels.Its trivial for any crypto to move off ETH on to a new chain if it looks to be an ETH beater.

Those faces are really annoying.

[Griffith]

Lol ok. Lets keep our feet on the ground.

It's a click bait title, but he's talking about the derivatives market (worth trillions) using defi which could massively increase the market cap of Ethereum.

[Bindare_Dundat]

It's a click bait title, but he's talking about the derivatives market (worth trillions) using defi which could massively increase the market cap of Ethereum.

Yeah, i understand what he's talking about but most people.wont bother watching the whole thing. Then they buy,  price goes parabolic, drops 10 percent, they freak out and price drops more,etc...then they complain how shit crypto is, etc... it gets stale.

[Army of One]

Ethereum is doing excellent, just under $1700.

ETH all time high is $1761.

It is, dont get me wrong.But anyone in this should be in for the long term, it will largely rise with btc always being around a 3rd of its marketcap, so the same gains over the long term with way more risk.I dont see any upside over BTC unless you are a short term trader.

[polychronopolous]

The wine really begins to flow. The dance partners become more and more attractive.

Just remember folks, there are a lot more factors that could turn it all into pumpkins and mice in comparison to Bitcoin.

[FitnessFrenzy]

imagine how much money the aspergers founder of ETH Vitalik has 

[Griffith]

https://twitter.com/AdamScochran/status/1217524744909660162?s=20

[Mayday]

Should we still be concerned about the CME futures contracts driving Ethereum down? Or is the momentum to the upside just too strong? Anyone cashing out prior to Feb 8th?

Very little commentary around that topic online but the overwhelming majority say it is positive and that the market is now to big to be manipulated like in 2017.

People have said  in 2017 it was a cycle top and coincidence the futures launched at the day it started a pullback and that in reality The shorts had no impact or influence on market direction of BTC.

Wait one day and find out.

[Theoak*]

I didn’t make a 200k loss. I sat through the initial wicked short squeeze to see my position evaporate and I held and sure enough it bounced back and at 40.5k I sold.  That was fucking scary. I took huge risk early on to derisk later which is what I have done. I only have my profit in play now.. Mission accomplished.

I have no doubt you have read similar things to people wanting to trade every peak and trough. People trade. People hold. You have a greater chance of winning for a hold position as it allows more time to be correct but there is a point where you need to bail and many decide to ride the wave back down.

Sorry but just because some bloke said it’s going to 250k I’m not going to suck up a huge loss for an unknown period of time if I don’t have to. I am not a believer in this being a huge cycle peak whereas most do.

That GME Reddit guy who went from 50k to 48M held and it’s crashing. He will end up around 25M before taxes. Savage. Brutal. He no doubt believed it was going to skyrocket.

If one bought gold at peak in 2012 it’s almost a decade later to get your initial investment back.

If one bought silver in peak 2011, a decade later you have half your initial investment yet the holders kept crowing buy buy buy. Back in 2011 it was the same ‘it’s undervalued, manipulated, going to $1,000’ and it destroyed people.

People get burned in all kinds of scenarios. Early buyers are in so cheap they mock and make fun of late comers who have ‘weak hands’. No shit, they don’t have a 95% buffer over their initial investment and no ivory tower to protect them. A 50% correction after they invest is soul destroying after being told it will be 250k this year.....

I sold BTC at peak and it still hasn’t got back there despite everybody claiming it would rally already these past weeks.It hasn’t crashed yet so I’m not correct either But I am not carrying risk right now.

Never said you made a 200k loss, was referring to your comment that I couldnt handle swings of that magnitude. I think you need to check your ego and not make assumptions on others because you get a few calls right. That statement right there was/is laughable if indeed it is directed at me. 

Im not a lefty, so I read and watch  many opposing views on btc and other alts(mainly Bitcoin). I dont just blindly follow youtube videos. At the end of the day i believe in the math and for someone who crunches numbers all day  then i think you could appreciate btc in its entirety.

[Mayday]

Never said you made a 200k loss, was referring to your comment that I couldnt handle swings of that magnitude. I think you need to check your ego and not make assumptions on others because you get a few calls right. That statement right there was/is laughable if indeed it is directed at me. 

Im not a lefty, so I read and watch  many opposing views on btc and other alts(mainly Bitcoin). I dont just blindly follow youtube videos. At the end of the day i believe in the math and for someone who crunches numbers all day  then i think you could appreciate btc in its entirety.

I think you should have picked up on my writing style not being great.

I am blunt and I make points. People crack the shits because they take a defensive position already like yourself just now instead of seeing I was making points to defend my strategy. If we were having a coffee you would think the exact opposite of how you did just then. It’s fine dude.

But hey, no prob. I’ll leave the thread so I don’t upset more people.

We will all do very well out of this anyway. Lots to be happy and positive about.

[obsidian]

Not sure he convinced me. Lol

Bitcoin on a tear this morning.

Yes you have to decide what are you going to do?! Sell ETH and then it goes to the moon or HODL and it drops lower. There will be ups and down for all cryptos including Bitcoin. But in the long run it is going to go up.

Also let's say hedgefunds want to short Ethereum. Wallstreetbets could get involved to wreck them! It will be buy buy buy to fuck the shorties!

kjell verleysen
3 hours ago
Walstreetbets wil support us against the shorters

Sinu Teisik
3 hours ago
Shorting now is a ticket to Rekt city.

[Theoak*]

I think you should have picked up on my writing style not being great.

I am blunt and I make points. People crack the shits because they take a defensive position already like yourself just now instead of seeing I was making points to defend my strategy. If we were having a coffee you would think the exact opposite of how you did just then. It’s fine dude.

But hey, no prob. I’ll leave the thread so I don’t upset more people.

We will all do very well out of this anyway. Lots to be happy and positive about.

Didnt upset me, no need to leave the thread we are not a bunch of TDS femminists.

[Bindare_Dundat]

Yes you have to decide what are you going to do?! Sell ETH and then it goes to the moon or HODL and it drops lower. There will be ups and down for all cryptos including Bitcoin. But in the long run it is going to go up.

Also let's say hedgefunds want to short Ethereum. Wallstreetbets could get involved to wreck them! It will be buy buy buy to fuck the shorties!

kjell verleysen
3 hours ago
Walstreetbets wil support us against the shorters

Sinu Teisik
3 hours ago
Shorting now is a ticket to Rekt city.

I'm holding long for now.  Thought about selling some last night cause I think we'll see a dip and some panic selling on Sunday/Monday and  back to new highs .

[obsidian]

I'm holding long for now.  Thought about selling some last night cause I think we'll see a dip and some panic selling on Sunday/Monday and  back to new highs .

Yes I thought the same. Thing is I worked damn hard to get the cryptos I have and don't want to end up with less! Greed will eventually get the best of you! I think Ethereum has a lot of upside movement. I would take profits at a much higher price point. It will come down when it hits peak. The tricky part is to try and sell at the top so you can ride it down and get more at the bottom.

https://bitcoinist.com/economist-ethereum-to-repeat-bitcoin-rally-to-20k-according-to-metcalfes-law/

https://bitcoinist.com/bitcoin-fractal-suggests-ethereum-will-soon-see-large-leg-higher/

Metcalfe's law
Metcalfe's law states that the effect of a telecommunications network is proportional to the square of the number of connected users of the system. First formulated in this form by George Gilder in 1993, and attributed to Robert Metcalfe in regard to Ethernet, Metcalfe's law was originally presented, c. 1980, not in terms of users, but rather of "compatible communicating devices". Only later with the globalization of the Internet did this law carry over to users and networks as its original intent was to describe Ethernet purchases and connections.

[Griffith]

Bitcoin under 38K again.

Will be interesting to see what happens tomorrow with the CME launch of Ethereum.

[Bindare_Dundat]

Bitcoin under 38K again.

Will be interesting to see what happens tomorrow with the CME launch of Ethereum.

Some cashing out on Eth as well. I expect it will all be scooped.up the next day and back to climbing up. 

[obsidian]

Nobody talking about Doge? You can make quite a bit of money if you play the pump right! Celebs and Elon want to shoot it to the moon! Lots of people will buy into it I think.

[obsidian]

Some cashing out on Eth as well. I expect it will all be scooped.up the next day and back to climbing up.

They are selling ETH and BTC for Dogecoin right now. Doge has a Super Bowl add. Expect it to pump for a while.

[Bindare_Dundat]

Nobody talking about Doge? You can make quite a bit of money if you play the pump right! Celebs and Elon want to shoot it to the moon! Lots of people will buy into it I think.

Its a useless meme.coin that is only.a pump and dump.  No thanks

[SOMEPARTS]

Its a useless meme.coin that is only.a pump and dump.  No thanks

The irony. 

[gib]

I think Ethereum has a lot of upside movement. I would take profits at a much higher price point. It will come down when it hits peak. The tricky part is to try and sell at the top so you can ride it down and get more at the bottom.

https://bitcoinist.com/economist-ethereum-to-repeat-bitcoin-rally-to-20k-according-to-metcalfes-law/

https://bitcoinist.com/bitcoin-fractal-suggests-ethereum-will-soon-see-large-leg-higher/

Metcalfe's law
Metcalfe's law states that the effect of a telecommunications network is proportional to the square of the number of connected users of the system. First formulated in this form by George Gilder in 1993, and attributed to Robert Metcalfe in regard to Ethernet, Metcalfe's law was originally presented, c. 1980, not in terms of users, but rather of "compatible communicating devices". Only later with the globalization of the Internet did this law carry over to users and networks as its original intent was to describe Ethernet purchases and connections.

It's very easy to get caught  in hype.

Eth is at the end of the day essentially a free platform. "Metcalf's law does not necessarily give something that is essentially free, anything of tradable economic value).

In my view its simple. Bitcoin which is truly limited in supply, and has been adopted globally as a store of value. Various apps that build on the Bitcoin base layer will come and go, and will be pumped and dumped. But even for those that actually have utility, their lack of scarcity and infinite market demand to efficiency, mean that their functionality will over time essentially be free. Good recent examples are ChainLink and Uniswap.

BTC will always be digital gold. And just like gold, all sorts of businesses were built on top of gold (be it jeweler's, pawn brokers, physical storage solutions, online trading platforms, etc), End of the day, non of the business built on top of gold were limited in supply and hence over time become incredibly competitive.

That is not to say though, that in the short term they cannot have speculative value. If you can time it right, or get in early, once can make money. But I would never hold any alt long term.

[Bindare_Dundat]

It's very easy to get caught  in hype.

Eth is at the end of the day essentially a free platform. "Metcalf's law does not necessarily give something that is essentially free, anything of tradable economic value).

In my view its simple. Bitcoin which is truly limited in supply, and has been adopted globally as a store of value. Various apps that build on the Bitcoin base layer will come and go, and will be pumped and dumped. But even for those that actually have utility, their lack of scarcity and infinite market demand to efficiency, mean that their functionality will over time essentially be free. Good recent examples are ChainLink and Uniswap.

BTC will always be digital gold. And just like gold, all sorts of businesses were built on top of gold (be it jeweler's, pawn brokers, physical storage solutions, online trading platforms, etc), End of the day, non of the business built on top of gold were limited in supply and hence over time become incredibly competitive.

That is not to say though, that in the short term they cannot have speculative value. If you can time it right, or get in early, once can make money. But I would never hold any alt long term.

I think that's the general consensus. 

[obsidian]

Its a useless meme.coin that is only.a pump and dump.  No thanks

I made more than $12,000 buying Doge low and selling at a higher price.