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

[DooM_]

Roubinni is one salty mofo

roubinni is good friends with yellen , today she complained again about the misuse of cryptocurrencies saying they're a  " a growing problem " and linking them to terrorism and criminal activity :

"I see the promise of these new technologies, but I also see the reality: cryptocurrencies have been used to launder the profits of online drug traffickers; they've been a tool to finance terrorism."

Federal law enforcement officials are also investigating whether or not bitcoin was used to fund domestic terrorism in the U.S., after a now-deceased French blogger sent $522,000 in bitcoin to far-right figures who may have been present at the U.S. Capitol insurrection on Jan. 6.

'' domestic terrorism '' lmao

https://www.coindesk.com/crypto-use-in-terrorism-a-growing-problem-yellen-says

[Bindare_Dundat]

roubinni is good friends with yellen , today she complained again about the misuse of cryptocurrencies saying they're a  " a growing problem " and linking them to terrorism and criminal activity :

"I see the promise of these new technologies, but I also see the reality: cryptocurrencies have been used to launder the profits of online drug traffickers; they've been a tool to finance terrorism."

Federal law enforcement officials are also investigating whether or not bitcoin was used to fund domestic terrorism in the U.S., after a now-deceased French blogger sent $522,000 in bitcoin to far-right figures who may have been present at the U.S. Capitol insurrection on Jan. 6.

'' domestic terrorism '' lmao

https://www.coindesk.com/crypto-use-in-terrorism-a-growing-problem-yellen-says

Lol old koont

Think btc just hit another high. I'm losing track

[Griffith]

https://www.decrypt.co/57328/ethereum-weth-now-settling-more-value-than-bitcoin%3famp=1

Ethereum Now Settling More Value Than Bitcoin

Ethereum is becoming the de facto crypto settlement network, due to value transfers via ETH, WETH, and stablecoins.

Ethereum long trailed Bitcoin as the top blockchain network for transferring value, but those days could be in the past as ETH and WETH transactions have surpassed Bitcoin and begun to pull away in recent weeks.

Average daily transaction value of ETH and Wrapped ETH (WETH) over the last 30 days has grown to more than $13 billion compared to just over $9 billion for Bitcoin, according to data compiled by Money Movers and provided by CoinMetrics. (At one point, ETH alone briefly surpassed Bitcoin.)

It’s another indication that Ethereum could have a leg up on Bitcoin as a functional digital currency suited to the everyday needs of casual users and hardcore traders alike.

Adding the value of transactions via dollar-pegged stablecoins USDC and DAI to the Ethereum network increases the gap even further, with nearly 80% more dollar-denominated value being transferred compared to Bitcoin over the last 30 days.

Compare that to a year ago, when native ETH was seeing just 13% the value traffic of Bitcoin, and it’s easy to see how much things have changed. Perhaps one year from now, we could be looking at a new king in the crypto economy.

[gib]

https://www.decrypt.co/57328/ethereum-weth-now-settling-more-value-than-bitcoin%3famp=1

Ethereum Now Settling More Value Than Bitcoin

Ethereum is becoming the de facto crypto settlement network, due to value transfers via ETH, WETH, and stablecoins.

Ethereum long trailed Bitcoin as the top blockchain network for transferring value, but those days could be in the past as ETH and WETH transactions have surpassed Bitcoin and begun to pull away in recent weeks.

Average daily transaction value of ETH and Wrapped ETH (WETH) over the last 30 days has grown to more than $13 billion compared to just over $9 billion for Bitcoin, according to data compiled by Money Movers and provided by CoinMetrics. (At one point, ETH alone briefly surpassed Bitcoin.)

It’s another indication that Ethereum could have a leg up on Bitcoin as a functional digital currency suited to the everyday needs of casual users and hardcore traders alike.

Adding the value of transactions via dollar-pegged stablecoins USDC and DAI to the Ethereum network increases the gap even further, with nearly 80% more dollar-denominated value being transferred compared to Bitcoin over the last 30 days.

Compare that to a year ago, when native ETH was seeing just 13% the value traffic of Bitcoin, and it’s easy to see how much things have changed. Perhaps one year from now, we could be looking at a new king in the crypto economy.

This is a bit like saying because more people transact in physical US dollar notes than in gold, that paper would be a better investment than gold:)

Lets please not confuse the difference between a platform (ETH), with a store of value (BTC), nor confuse turnover of transactions on a freely available protocol with that protocol's underlying value.

As bitcoin owners, we need to be unified in directing all potential store of value mutual belief into Bitcoin. (United Bitcoiner's will rise, but divided they fall).

Any dilution into alts has failed over time and should be discouraged and avoided. Eth is a PLATFORM. Was never intended as a store of value, but rather as a free protocol to enable smart contracts. For that vision to succeed we need ETH to essentially be free (as was Vitalik's vision as set out in the Eth whitepaper).

But yes, we will in the future see lots of value traded using that free platform, just like we see lots of value being built on the internet protocol (which is also essentially free).

I agree though, in the short term we also see people speculate in Eth and other alts.

[gib]

Roubinni is one salty mofo

He is both a bitter old man, and an idiot. In many ways, much like Mr Anabolic. lol 

[gib]

America's Oldest Bank BNY Mellon Will Now Support Bitcoin

The oldest bank in America will now be storing Bitcoin on behalf of its clients, according to a report.

 BNY Mellon, the oldest bank in America, will be adding support for Bitcoin on behalf of its asset-management clients, according to the Wall Street Journal. The bank will store and transfer Bitcoin and other digital currencies.

Roman Regelman, chief executive of BNY Mellon’s asset-servicing and digital businesses, said, “Digital assets are becoming part of the mainstream.”

According to the report, the bank plans to enable cryptocurrencies to flow through the same systems that it uses for its traditional currencies and stocks. It has created a prototype for doing this and is engaging with clients to see if they want to use it.

Regelman reportedly said that the bank plans to treat cryptocurrencies in the same way as traditional assets. This shows that rather than exist outside of the system—cryptocurrencies can work alongside the current financial system.

Bitcoin has recently gone through a transition from a niche asset to a mainstream, institutional-led one. With the lack of a Bitcoin ETF, Grayscale Investments has been filling the gap, providing institutional investors with a regulated way of getting exposure to Bitcoin, and other coins, via its trusts.
Elon Musk's Tesla Has Invested $1.5 Billion Into Bitcoin

Tesla has invested $1.5 billion into Bitcoin, according to an SEC filing today. "Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy and may acquire and hold digita...

Furthermore, companies have started putting Bitcoin on their balance sheet. MicroStrategy started the trend and now has a balance of around $3 billion in Bitcoin. Earlier this week, Tesla announced that it had followed suit, with a $1.5 billion Bitcoin purchase. Both purchases making it clear that Bitcoin is too big for banks to ignore—and something they are starting to embrace instead.

 https://decrypt.co/57411/americas-oldest-bank-bny-mellon-will-now-support-bitcoin

Pretty amazing and only really just the beginning.

On a related note, I recently installed a lightening wallet. So I can (and do) now transact in Satoshies in instantaneous time and zero fees (and anywhere in the world). Its awesome.

[gib]

Most people would rather own a full coin or several coins, and Ethereum makes that a very affordable option for retail investors and especially younger people.

Griffith - you are an intelligent person, so I hope you can also see the idiocy of the logic applied by "young people" as mentioned in your post.

This is like saying most people would rather own a "full coin" of silver, rather than a "half coin" of gold because having a "full coin" would make them feel better. Its idiotic logic, (but I agree with you there are some people who have brains that really do think like this!).

Its like the people who buy "penny stocks" in a worthless company because they are "cheaper", rather than a stock in a company such Apple or Amazon because there "expensive".

But yes, you are correct that some people do think like this. And indeed this is why we see alts come (and then go...).

[Bindare_Dundat]

Bitcoin etf now a reality. Also, Florida will allow payment of taxes in BTC.


First North American Bitcoin ETF Approved by Canadian Securities Regulator
https://www.coindesk.com/first-north-american-bitcoin-etf-approved-by-canadian-securities-regulator

[Bindare_Dundat]

Griffith - you are an intelligent person, so I hope you can also see the idiocy of the logic applied by "young people" as mentioned in your post.

This is like saying most people would rather own a "full coin" of silver, rather than a "half coin" of gold because having a "full coin" would make them feel better. Its idiotic logic, (but I agree with you there are some people who have brains that really do think like this!).

Its like the people who buy "penny stocks" in a worthless company because they are "cheaper", rather than a stock in a company such Apple or Amazon because there "expensive".

But yes, you are correct that some people do think like this. And indeed this is why we see alts come (and then go...).

I've decided I'm. selling 90 percent of.my ETH today and buying on the next BTC dip. Could be a short term mistake but I'd like to focus on this one digital asset moving forward. 

[obsidian]

roubinni is good friends with yellen , today she complained again about the misuse of cryptocurrencies saying they're a  " a growing problem " and linking them to terrorism and criminal activity :

"I see the promise of these new technologies, but I also see the reality: cryptocurrencies have been used to launder the profits of online drug traffickers; they've been a tool to finance terrorism."

Federal law enforcement officials are also investigating whether or not bitcoin was used to fund domestic terrorism in the U.S., after a now-deceased French blogger sent $522,000 in bitcoin to far-right figures who may have been present at the U.S. Capitol insurrection on Jan. 6.

'' domestic terrorism '' lmao

https://www.coindesk.com/crypto-use-in-terrorism-a-growing-problem-yellen-says

As if terrorists have not used fiat currencies before lol! I saw a statistic that there is more illegal activity going on with fiat currencies than the market cap of Bitcoin. Someone should for once just confront Yellen with statistics. But she will probably just ignore it. They have stolen an election after all. Facts and proof do not matter to them.

Well perhaps after things get violent will they shit their fucking pie holes! They are going to be dead in a few years anyway. Yellen is 74. She should go retire somewhere she has no business dictating to people with one foot in the grave.

[obsidian]

Griffith - you are an intelligent person, so I hope you can also see the idiocy of the logic applied by "young people" as mentioned in your post.

This is like saying most people would rather own a "full coin" of silver, rather than a "half coin" of gold because having a "full coin" would make them feel better. Its idiotic logic, (but I agree with you there are some people who have brains that really do think like this!).

Its like the people who buy "penny stocks" in a worthless company because they are "cheaper", rather than a stock in a company such Apple or Amazon because there "expensive".

But yes, you are correct that some people do think like this. And indeed this is why we see alts come (and then go...).

Your post reeks of bias towards Bitcoin. You're comparing Ethereum with a "worthless penny stock" and Bitcoin with Apple and Amazon. Ethereum is hardly worthless and being utilized in a lot of smart contract applications. An entire financial system can be built on a platform like Ethereum.

You bailed on Bitcoin when the price dropped which means you are a trader and not someone who believes in the project long term - except if it will have a financial benefit.

So if money is what motivates you why did you not rather invest in the Ethereum killer Cardano? It is further along with it's proof of stake development than Ethereum. And the main Cardano developer used to work on Ethereum with Vitalik Buterin before he parted ways.

Look how much Cardano has moved compared to Bitcoin and Ethereum the last year:

ADA - +1,229.75%
BTC - +360.66%
ETH - +$558.78%

Had you invested your 2020 money into Cardano instead of BTC your porfolio's value would have been almost 4 times larger now. It is all just dollars and cents for you after all since you got out of BTC when you saw the price tank.

Cardano looks like a very promising asset and might upstage Ethereum. Ethereum has a lot of bugs and potential security holes to sort out because it was not designed from the ground up as proof of stake blockchain 3.0 like Cardano. I've converted some Ethereum to Cardano and also had some holdings from a few years ago.

[obsidian]

I've decided I'm. selling 90 percent of.my ETH today and buying on the next BTC dip. Could be a short term mistake but I'd like to focus on this one digital asset moving forward.

A strategy I want to try is to hop from one to the other. What I have noticed is Bitcoin will go up, then it will trade sideways. Then Ethereum will follow. I might try this with a few Ethereum coins. The trick is spotting when each will move. And sometimes news like Tesla's announcement can affect the price. I was sleeping when that was announced and by the time I got up the price had already jumped to $48,000. Oh well I still think Ethereum has the potential to shoot to 20k or more this year. We'll see!

For ADA the high estimates appear to be $9-10. ADA is approaching it's ATH of $1.18.

[Bindare_Dundat]

A strategy I want to try is to hop from one to the other. What I have noticed is Bitcoin will go up, then it will trade sideways. Then Ethereum will follow. I might try this with a few Ethereum coins. The trick is spotting when each will move. And sometimes news like Tesla's announcement can affect the price. I was sleeping when that was announced and by the time I got up the price had already jumped to $48,000. Oh well I still think Ethereum has the potential to shoot to 20k or more this year. We'll see!

For ADA the high estimates appear to be $9-10. ADA is approaching it's ATH of $1.18.

Yeah, that seems to be the prevailing theory amongst crypto traders. From BTC, to ETH, to lower market cap coins and keep rotating.

At the end of the day, though,  the goal for all these folks is always to acquire more bitcoin.

[gib]

Well done to Miami. Super smart move. I am immediately inclined to consider investing in Miami. What a progressive city. Great way to diversify the economy and employment etc away from being tourism and hospitality dominated. And poised to make Miami citizens some of the wealthiest and finically secure in the world over time, offering the opportunity for many to attain "one-coiner" status,

[Griffith]

Your post reeks of bias towards Bitcoin. You're comparing Ethereum with a "worthless penny stock" and Bitcoin with Apple and Amazon. Ethereum is hardly worthless and being utilized in a lot of smart contract applications. An entire financial system can be built on a platform like Ethereum.

You bailed on Bitcoin when the price dropped which means you are a trader and not someone who believes in the project long term - except if it will have a financial benefit.

So if money is what motivates you why did you not rather invest in the Ethereum killer Cardano? It is further along with it's proof of stake development than Ethereum. And the main Cardano developer used to work on Ethereum with Vitalik Buterin before he parted ways.

Look how much Cardano has moved compared to Bitcoin and Ethereum the last year:

ADA - +1,229.75%
BTC - +360.66%
ETH - +$558.78%

Had you invested your 2020 money into Cardano instead of BTC your porfolio's value would have been almost 4 times larger now. It is all just dollars and cents for you after all since you got out of BTC when you saw the price tank.

Cardano looks like a very promising asset and might upstage Ethereum. Ethereum has a lot of bugs and potential security holes to sort out because it was not designed from the ground up as proof of stake blockchain 3.0 like Cardano. I've converted some Ethereum to Cardano and also had some holdings from a few years ago.

Comparing Ethereum to 'penny stocks' and calling its platform 'worthless' is of course just plain ludicrous.

He doesn't seem to grasp that various cryptocurrencies will and do co-exist, as do various currencies and commodities. With commodities we have gold, silver, platinum, palladium and many others. Same with reserve currencies.

His argument that ETH was not intended to be 'store of value' is disingenuous, as neither was BTC, it was supposed to be a digital currency used primarily for payments. The narrative changed more towards 'store of value' and more recently 'digital gold' when the large fluctuations in value made it impractical to use as a currency for payments.

And of course Ethereum is a platform and Ether its currency. ETH has been around since 2013 and is the second oldest cryptocurrency, it survived the cryptocurrency crash last cycle and has had exceptional growth, yet he claims every 'alts has failed over time'.

He also tries to distort the argument of why people would opt to buy several Ethereum coins instead of a fraction of Bitcoin for the same price.

If BTC reaches 100K, that's 2X, if 200K, that's 4X.

If ETH reaches 5K it's almost 3X, if 10K it's 5.5X, and 20K that's 11X.

[polychronopolous]

I've decided I'm. selling 90 percent of.my ETH today and buying on the next BTC dip. Could be a short term mistake but I'd like to focus on this one digital asset moving forward.

I sold my ETH and converted it over to BTC a couple years back and have never slept better. BTC is an incredible innovation RIGHT NOW. It serves it's purpose extremely well RIGHT NOW. It has the moat. It has the hard cap of 21 million. It is decentralized. The big time companies will soon be buying in in droves. It is a once in a lifetime, grandslam pitch right now the center of the plate.

With ETH it's more about hype and speculation. I suspect a good bit of it is based on people who believe they missed the BTC train and are simply getting too cute with their thought process.

And that isn't me hating on Ethereum, I don't necessarily think it being a small portion of one's portfolio is a bad thing.

Maybe some of it comes down to the "would you rather own the gold or the shovels" analogy.

I'll take the gold in this case.

[Griffith]

https://www.financemagnates.com/cryptocurrency/news/grayscale-purchases-52730-ethereum-in-24-hours/

Grayscale Purchases 52,730 Ethereum in 24 Hours

The asset manager now has 3.13 million Ethereum under management.

Grayscale, the world’s largest crypto asset manager, has accelerated its Ethereum accumulation as the firm purchased 52,730 ETH worth more than $93 million in the last 24 hours.

The company’s Ethereum Trust now has more than 3.13 million ETH under management with a total value of over $5.5 billion.

According to the latest data published by crypto analytics firm, bybt.com, Grayscale accumulated a total of 111,182 Ethereum in the last 7 days after a significant jump in ETH price. As of writing, ETH is trading above $1,760 with a total market cap of $200 billion.

[OneMoreRep]

Here's a question for you crypto aficionados..

A client of mine asked me for my personal opinion in possibly investing in one of the following cryptos:

BitCoin
Ethereum
Cardano
Polkadot

I told him I'm not too fond of the idea, but that there might be merit behind this and it could very well be a paradigm shift we're witnessing.

That said, I've posed this same question to a few of my buddies that do institutional trading, but no one has replied yet.

What are your thoughts? Which one would you pick and why?

"1"

[gib]

I sold my ETH and converted it over to BTC a couple years back and have never slept better. BTC is an incredible innovation RIGHT NOW. It serves it's purpose extremely well RIGHT NOW. It has the moat. It has the hard cap of 21 million. It is decentralized. The big time companies will soon be buying in in droves. It is a once in a lifetime, grandslam pitch right now the center of the plate.

With ETH it's more about hype and speculation. I suspect a good bit of it is based on people who believe they missed the BTC train and are simply getting too cute with their thought process.

And that isn't me hating on Ethereum, I don't necessarily think it being a small portion of one's portfolio is a bad thing.

Maybe some of it comes down to the "would you rather own the gold or the shovels" analogy.

I'll take the gold in this case.

I concur!

[gib]

Here's a question for you crypto aficionados..

A client of mine asked me for my personal opinion in possibly investing in one of the following cryptos:

BitCoin
Ethereum
Cardano
Polkadot

I told him I'm not too fond of the idea, but that there might be merit behind this and it could very well be a paradigm shift we're witnessing.

That said, I've posed this same question to a few of my buddies that do institutional trading, but no one has replied yet.

What are your thoughts? Which one would you pick and why?

"1"

This question comes up a lot.

The safest answer in my view is 100% Bitcoin.

If the client was prepared to take a little more risk, perhaps a 80/20 split BTC/ETH which is also quite common.

A third option might be 75 BTC, 20 ETH, 5% alts such as those you mentioned. You could throw in XRP too.

Reality is that BTC is the huge planet at the centre of the ecosystem, with various "alts" rotating around it who will come and go.

The same balance as above is being mirrored by the larger funds, banks etc. Follow the money and the big boys.

[gib]

Comparing Ethereum to 'penny stocks' and calling its platform 'worthless' is of course just plain ludicrous.

He doesn't seem to grasp that various cryptocurrencies will and do co-exist, as do various currencies and commodities. With commodities we have gold, silver, platinum, palladium and many others. Same with reserve currencies.

His argument that ETH was not intended to be 'store of value' is disingenuous, as neither was BTC, it was supposed to be a digital currency used primarily for payments. The narrative changed more towards 'store of value' and more recently 'digital gold' when the large fluctuations in value made it impractical to use as a currency for payments.

And of course Ethereum is a platform and Ether its currency. ETH has been around since 2013 and is the second oldest cryptocurrency, it survived the cryptocurrency crash last cycle and has had exceptional growth, yet he claims every 'alts has failed over time'.

He also tries to distort the argument of why people would opt to buy several Ethereum coins instead of a fraction of Bitcoin for the same price.

If BTC reaches 100K, that's 2X, if 200K, that's 4X.

If ETH reaches 5K it's almost 3X, if 10K it's 5.5X, and 20K that's 11X.

You will find very few people truly understand how to possibly value Eth, beyond stating that "smart contracts" and "DeFi" will be a big thing in the future.

Here is a great analysis that goes a little deeper for those who are truly interested and want to be educated:

https://www.lynalden.com/ethereum-analysis/

OneMoreRep - you may find useful also.

[Thin Lizzy]

https://www.etftrends.com/crypto-channel/canada-beats-united-states-to-bitcoin-etf/

Late Thursday, Canadian regulators approved the Purpose Bitcoin ETF, which will trade on the Toronto Stock Exchange (TSE) under the ticker ‘BTCC’.

[gib]

https://www.etftrends.com/crypto-channel/canada-beats-united-states-to-bitcoin-etf/

Late Thursday, Canadian regulators approved the Purpose Bitcoin ETF, which will trade on the Toronto Stock Exchange (TSE) under the ticker ‘BTCC’.

Well done Canada, and shame on the US. We do have the GreyScale Trust, and various other mechanisms in the US that are similar to listed ETFs, but not exactly ETFs from an SEC regulatory point of view.

Hong Kong is also about to launch a Bitcoin ETF (which is kind of interesting considering Bitcoin is "banned" in China).

Singapore about to launch a Bitcoin ETF also,

Its all starting to happen.

[Griffith]

https://dailyhodl.com/2021/02/11/fundstrat-dramatically-increases-bitcoin-price-target-for-2021-predicts-ethereum-will-outperform-btc/

Fundstrat Dramatically Increases Bitcoin Price Target for 2021, Predicts Ethereum Will Outperform BTC

Investment research firm Fundstrat is more than doubling its 2021 Bitcoin price prediction, but bets Ethereum will significantly outpace the top cryptocurrency.

“In our 2021 crypto outlook report two weeks ago we raised our target on BTC from $40k to $100k.”

Fundstrat’s lead digital asset strategist David Grider says that the investment research firm is raising its Bitcoin price target by two and a half times.

Fundstrat’s forecast for Ethereum is even more bullish than its Bitcoin prediction. Last month, Bloomberg reported that Fundstrat had raised its 2021 Ethereum price target to $10,500.

Grider describes Ethereum as having the ‘best risk-reward ratio’ of all cryptocurrencies.

The digital asset strategist goes so far as to estimate that ‘blockchain computing may be the future of the cloud.’

[gib]

On a different note, a friend of mine was telling me about how he gave a high-end Vegas "stripper" a "gift" in Bitcoin a few years back (around 2016). They were doing blow all night in his room after he took her back from the club, and he also did her raw numerous time etc throughout the night and then also again in the afternoon. She was not exactly a hooker, and didn't demand a fee but at the same time it was obvious to him that she was a kind of Vegas party girl that would expect a tip given the circumstances of how they met and his looks and how attractive she was etc. (He is in the on-line gambling industry). I have seen pix of the girl and so can confirm she is amazing - typical Vegas hottie.

She apparently was of the "open minded" type and took quite an interest in his business etc, and so by the next morning he had set her up with a bitcoin wallet and transferred her 10 Bitcoins.

He remarks now that this would have to be one of the most expensive whores ever paid for a night of passion. (Also, he suspects she quite likely lost the coins anyhow, and never will be able to access them again). So probably also the biggest amount a whore has ever been tipped and then also lost in history! 10 BTC at today's value comes to around 500K. Expensive night...