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

[El Diablo Blanco]

scam or not, the fact BTC is now at $60K is beyond insanity, but kudos to those that bought in early and made some good cash on it.  Is it worth buying now?  Probably not.  The risk now is too high.  you can make better money in the stock market. Unless you're Elon Musk and have a billion to put in and maybe double it in a year or two but you can do that with a lot of stocks.  Just look at GME, a billion dollars into any stupid dead stock and some media hype can make you 10X your money overnight.

[OneMoreRep]

A few of my buddies at Bridgewater Associates are starting to talk about Cardano. To me, that's very substantial as their leader isn't a crypto bull or even a big fan. Either they see potential and will make a move into it or have heard from others (Renaissance, Millennium) about it.

I don't know enough about that crypto, but they mentioned that it will soon break through their ATH resistance and establish a really juicy support in the coming month(s).

I recently bought into Ethereum with a sizable position, but will look into Cardano/ADA, especially if there is talks of it booming. I want to find a crypto that I can buy and hold for the next 5-10 years, certainly don't want to day trade. That shit is nerve wrecking.

"1"

[Griffith]

scam or not, the fact BTC is now at $60K is beyond insanity, but kudos to those that bought in early and made some good cash on it.  Is it worth buying now?  Probably not.  The risk now is too high.  you can make better money in the stock market. Unless you're Elon Musk and have a billion to put in and maybe double it in a year or two but you can do that with a lot of stocks.  Just look at GME, a billion dollars into any stupid dead stock and some media hype can make you 10X your money overnight.

I think it's still early days, institutional investors are only starting to get in now.

Mainly BTC but also Ethereum.

[gib]

scam or not, the fact BTC is now at $60K is beyond insanity, but kudos to those that bought in early and made some good cash on it.  Is it worth buying now?  Probably not.  The risk now is too high.  you can make better money in the stock market. Unless you're Elon Musk and have a billion to put in and maybe double it in a year or two but you can do that with a lot of stocks.  Just look at GME, a billion dollars into any stupid dead stock and some media hype can make you 10X your money overnight.

Huh? Its beyond insanity to stay in cash, which we know for CERTAIN is declining in value every second.

The sane person would be putting their fake fiat currency into a perfectly finite asset, decentralized and accessible globally.

How can you say the risk is "too high"? The risk is actually now far lower than at any point in Bitcoin's history, considering the global adoption, market cap, regulatory legitimization, tenure of BTC, institutional support etc.

As for the stock market, the problem is that the stocks, and their earnings, are measured in... money. Money, which as we know is declining in value over time. If a stock goes up 15%, but money supply is increased 25%, the stock as nominally risen 15%, but actually FALLEN in real terms by 10%.

You don't need a billion. But if possible you should aim to become a WholeCoiner whilst its still possible. They will be the true monetary elite in a decade from now, and almost unattainable by NoCoiners. Although occasionally we will hear of a top athlete who signs a massive deal who becomes a WholeCoiner, of someone who become one via a trust fund, or a lottery win. It's going to become rare though, and truly set this class of person apart from the other 99.99% of the population.

Still within reach. Act now, HODL. Even if you can only become a 1/10th of a WholeCoiner. DO IT NOW!

[Griffith]

[Humble Narcissist]

Huh? Its beyond insanity to stay in cash, which we know for CERTAIN is declining in value every second.

The sane person would be putting their fake fiat currency into a perfectly finite asset, decentralized and accessible globally.

How can you say the risk is "too high"? The risk is actually now far lower than at any point in Bitcoin's history, considering the global adoption, market cap, regulatory legitimization, tenure of BTC, institutional support etc.

As for the stock market, the problem is that the stocks, and their earnings, are measured in... money. Money, which as we know is declining in value over time. If a stock goes up 15%, but money supply is increased 25%, the stock as nominally risen 15%, but actually FALLEN in real terms by 10%.

You don't need a billion. But if possible you should aim to become a WholeCoiner whilst its still possible. They will be the true monetary elite in a decade from now, and almost unattainable by NoCoiners. Although occasionally we will hear of a top athlete who signs a massive deal who becomes a WholeCoiner, of someone who become one via a trust fund, or a lottery win. It's going to become rare though, and truly set this class of person apart from the other 99.99% of the population.

Still within reach. Act now, HODL. Even if you can only become a 1/10th of a WholeCoiner. DO IT NOW!

You keep saying "fake fiat currency" but that currency buys stuff and has been around hundreds of years.  Your "money" is nothing but digits on a screen that no one knows who has control over.  Monopoly money is worth more unless you sell before it goes away or crashes in value.  Those who sell early make money in any pyramid scheme.

[Mayday]

You keep saying "fake fiat currency" but that currency buys stuff and has been around hundreds of years.  Your "money" is nothing but digits on a screen that no one knows who has control over.  Monopoly money is worth more unless you sell before it goes away or crashes in value.  Those who sell early make money in any pyramid scheme.

Agree mostly.

We need local currencies to buy shit. To function in everyday life. I think they are here for a long time, albeit massively devalued in the next 5yrs or so.

For BTC perhaps it’s best to think of it as the first ever ‘stable asset’. Instead of deciding which asset or assets to put your money into in order to keep up with monetary inflation, we now have one asset.

The eventual annualised growth of BTC will be the money supply (printing+debt). If it expands 10%, BTC will go up 10%. No more diversification into multiple assets using guesswork, put it in and keep even with every asset class’.

most importantly we will be able to save again!

[gib]

You keep saying "fake fiat currency" but that currency buys stuff and has been around hundreds of years.  Your "money" is nothing but digits on a screen that no one knows who has control over.  Monopoly money is worth more unless you sell before it goes away or crashes in value.  Those who sell early make money in any pyramid scheme.

Actually, the fake money (if it's the USD in its current form) has been around for 50 years. And whilst its used to buy stuff, it take more and more of it to buy the same stuff every day. Think of a bucket of water with a hole in it, leaking out slowly but surely. The US has ALWAYS lost value over time.

Your money is nothing put pieces of paper, totally unlimited in supply.

Bitcoin is pure mathematics, (and digital as opposed to pieces of paper). It is perfectly limited in supply and has ALWAYS gained value over time.

Those who give up the fake money and move into BTC first stand to make greater gains. So, what is the rational thing to do when presented with these facts?

[Mayday]

A few of my buddies at Bridgewater Associates are starting to talk about Cardano. To me, that's very substantial as their leader isn't a crypto bull or even a big fan. Either they see potential and will make a move into it or have heard from others (Renaissance, Millennium) about it.

I don't know enough about that crypto, but they mentioned that it will soon break through their ATH resistance and establish a really juicy support in the coming month(s).

I recently bought into Ethereum with a sizable position, but will look into Cardano/ADA, especially if there is talks of it booming. I want to find a crypto that I can buy and hold for the next 5-10 years, certainly don't want to day trade. That shit is nerve wrecking.

"1"

You know my thoughts on alt coins. The only long term option really is BTC at this stage.

I hold ADA but the whales were buying at 0.02 and each time it gets near the ATH they dump and make 70x their money. That’s the problem for all alts because they lost 95% of their value and when it comes time for the end of this bull market the whales will dump with the fury of 1,000 Spartans.

Sure, buy ADA but you need to dump it this bull market then wait for a 80%-90% drop and buy in again.

If you want to make crazy big money it will be in 2022 after this coming peak.

[Teutonic Knight]

Your money is nothing put pieces of paper, totally unlimited in supply.

Rubbish, you are pretending to be a banking "expert" , BUT you have no clue about currency made of polymer !.

+ minted gold/silver coins !.

Inform yourself "genius" 

[polychronopolous]

Latin America's first bitcoin ETF receives approval in Brazil


The first bitcoin exchange-traded fund (ETF) of Latin America has been approved in Brazil, the region's largest economy.

The bitcoin ETF was launched by QR Asset Management and is expected to be listed on Brazil's main stock exchange B3, according to a Friday announcement from QR Capital, the asset manager's holding company. The listing date has yet to be disclosed, but Reuters reported Friday that the listing will take place "by June."

The ETF, sporting the ticker symbol QBTC11, has been approved by CVM, the Securities and Exchange Commission of Brazil, said QR Capital.

QBTC11 is the fourth bitcoin ETF to receive approval in the Western Hemisphere after three Canadian bitcoin ETFs were launched in recent weeks — Purpose Bitcoin ETF, Evolve Bitcoin ETF, and CI Galaxy Bitcoin ETF.

QR Capital said the approval of QBTC11 could speed up the approval of a bitcoin ETF in the U.S. because CVM and the SEC are affiliated members of the International Organization of Securities Commissions.

Indeed, recent developments suggest that a bitcoin ETF may finally get the nod from regulators in the U.S. this year, as The Block reported last week.

There are currently four bitcoin ETF applications pending review by the SEC — each one from WisdomTree Investments, VanEck Associates Corp., NYDIG Asset Management, and Valkyrie Digital Assets.

[polychronopolous]

"revolutionary technology..."   

You are like the guy who comes home early from work and sees the milkman strapping it to your old lady with your very eyes and STILL refuse to believe that your wife is cheating on you.

The rise of Bitcoin is unfolding before us all and yet you still think it's all a bunch of tulip mania, internet fairy dust nonsense meanwhile big time institutional firms are pumping millions upon millions of dollars into it.

[Humble Narcissist]

You are like the guy who comes home early from work and sees the milkman strapping it to your old lady with your very eyes and STILL refuse to believe that your wife is cheating on you.

The rise of Bitcoin is unfolding before us all and yet you still think it's all a bunch of tulip mania, internet fairy dust nonsense meanwhile big time institutional firms are pumping millions upon millions of dollars into it.

With your belief in Bitcoin unicorn farts, you are much more like the milkman than me.

[Griffith]

https://ambcrypto.com/why-ethereum-is-still-in-the-buy-zone/

Why Ethereum is still in the ‘buy-zone’

At the current price level, Ethereum is trading at the $1800 level and it is being absorbed by HODLers who don’t sell within 2-4 years or in the short term. The asset’s total value in the ETH 2.0 deposit contract just reached an all-time high of 3,551,682 ETH. The increase in reserves signals the increasing liquidity and volatility in Ethereum’s price.

At the current price level, Ethereum is trading at the $1800 level and it is being absorbed by HODLers who don’t sell within 2-4 years or in the short term. The asset’s total value in the ETH 2.0 deposit contract just reached an all-time high of 3,551,682 ETH. The increase in reserves signals the increasing liquidity and volatility in Ethereum’s price.

Why the next supply shock will start an altcoin bull run

If Bitcoin traded sideways, it would offer Ethereum and large market cap altcoins to trend and rally. Ethereum has traditionally led the altcoin rally, so the increased volatility is a positive sign. Ethereum reserves on exchanges increased from week 1 in march, and have dropped now. The ETH 2.0 deposit contract is gaining traction and there is an increase in the number of active traders on the ETH network.

Something similar happened to Bitcoin in November 2020. Around this time, Bitcoin’s price went from 10k to 60k, that is 6x, if Ethereum’s price responded in a similar manner traders can expect at least over 3x price hike. At the current price level, Ethereum may continue to remain undervalued.

Ethereum is headed towards a massive supply shock and it may hit within the next 12 months, meaning that the impact on price will be long-term. Few important data points that directly influence the supply are 10-20% Ethereum’s supply is locked in staking, of the circulating supply $10-$20 Billion is burned in EIP 1559 every year.

Additionally, the drop in issuance of ETH would lead to a drop of 4.5% in the supply. This coupled with other drops, may shock Ethereum’s supply creating an increased demand for the asset on spot exchanges. This shortage of supply narrative is in-line with Bitcoin’s bullish narrative this market cycle.

Besides, the two assets are correlated strongly, 86% precisely. This is the highest correlation that Ethereum has with any other asset and this is playing an instrumental role in shaping up the drop in supply and driving the price rally higher.

Undervalued or not, currently ETH is in the buy zone, even at the $1800 level when it is valued in light of the upcoming supply shock and expected to increase in value in the following weeks.

[Griffith]

https://dailyhodl.com/2021/03/20/deutsche-bank-says-bitcoin-too-big-to-ignore-after-shattering-1000000000000-market-cap/

Deutsche Bank Says Bitcoin Too Big To Ignore After Shattering $1,000,000,000,000 Market Cap

Researchers at Deutsche Bank say Bitcoin’s rise above the $1 trillion mark proves the leading cryptocurrency is here to stay – at least for the foreseeable future.

In a new report on the future of payments, the banking giant says it expects BTC to remain “ultra volatile” amid high levels of speculation.

“In the short term, Bitcoin is here to stay and its value will remain volatile… We estimate that less than 30% of transactional activity in Bitcoin is related to payment for goods and services, with the rest largely used as a financial investment.”

The report says Bitcoin “should continue to rise” based in part on its adoption among institutional investors.

“At the beginning of 2017, Bitcoin prices were below $1,000 per coin. In December of the same year, Bitcoin reached nearly $20,000. Then came the fall and by February 2018, the price had dropped to $7,000. In a year only, prices surged from $4,900 in March 2020 to hit a new high of $60,000 last Saturday. One of the most important factors driving Bitcoin’s increased demand was the entrance of hedge funds and other institutional investors.”

The report also cites the acceptance of crypto assets among Millennials as a main factor that could trigger a tipping point in the global adoption of BTC.

“Future generations may usher in mass adoption. The older people we surveyed had fears about cryptocurrencies, found them harder to understand, believed they create volatile financial bubbles (like the dotcom bust), and saw them as low-liquidity financial instruments. A third of those surveyed had no idea how cryptocurrencies work, and 40% had only a partial understanding.

By contrast, around a third of millennials believed that cryptocurrencies are replacing cash and credit/debit cards according to our exclusive survey of over 4,700 people in the United States, the United Kingdom, Germany, France, Italy, Spain and South Korea.”

[Griffith]

What are your views on Polkadot (DOT)?

[Bindare_Dundat]

What are your views on Polkadot (DOT)?

Stick to bitcoin. Its the king. Without it , ethereum and ada and the rest wouldn't be here or would be in the gutter. Ethereum only moves because of bitcoin, Ada is doing nothing but tanking and polkadot is in the same boat.

Sorry obsidian,  I hate shitting on Eth but it's mired in problems.

All these,  nft, defi, blah blah blah shitncoins are just that, shit. Only good for idiots like Mark Cuban and other billionaire morons to buy crap and brag about how wealthy they are throwing their money at garbage trading cards and "art"

[obsidian]

Stick to bitcoin. Its the king. Without it , ethereum and ada and the rest wouldn't be here or would be in the gutter. Ethereum only moves because of bitcoin, Ada is doing nothing but tanking and polkadot is in the same boat.

Sorry obsidian,  I hate shitting on Eth but it's mired in problems.

All these,  nft, defi, blah blah blah shitncoins are just that, shit. Only good for idiots like Mark Cuban and other billionaire morons to buy crap and brag about how wealthy they are throwing their money at garbage trading cards and "art"

If Gibs sold his 50 BTC on January 1st and bought Dogecoin he would now have the equivalent of 660.63829787 BTC! Instead he still has 50 BTC because he hodled it.

He is playing it safe by just hodling BTC. Of course the same thing applies for me. If I did not hodl my ETH and sold all to Dogecoin in January I would have also seen a dramatic increase in my portfolio. The problem is it is easy to see this in hindsight but when you are in the moment you just can't know how things will pan out. If I had a time machine and knew future prices I would have been a trillionaire by now lol! I guess we all would be.

Ethereum Open Price:
Jan 01, 2021   737.71
Mar 14, 2021   1,908.64
Increase: 158.724973228%

Bitcoin Open Price:
Jan 01, 2017   963.66
Mar 14, 2017   1,232.16
Increase: 27.8625241268%

Cardano Open Price:
Jan 01, 2021   0.1814   
Mar 14, 2021   1.0815
Increase: 496.1962513782%

Dogecoin Open Price:
Jan 01, 2021   0.0047
Mar 14, 2021   0.0621
Increase: 1221.2765957447%

[obsidian]

Stick to bitcoin. Its the king. Without it , ethereum and ada and the rest wouldn't be here or would be in the gutter. Ethereum only moves because of bitcoin, Ada is doing nothing but tanking and polkadot is in the same boat.

Sorry obsidian,  I hate shitting on Eth but it's mired in problems.

All these,  nft, defi, blah blah blah shitncoins are just that, shit. Only good for idiots like Mark Cuban and other billionaire morons to buy crap and brag about how wealthy they are throwing their money at garbage trading cards and "art"

Those problems will be fixed. And it will have advantages over Bitcoin. The fundamentals for Ethereum look good. There's been times where the fundamentals for Bitcoin looked great but the price did not reflect it.

The world is a big place and Bitcoin is not the only game in town. Bitcoin is a store of value and that's that. The derivatives market is a lot bigger than the gold market. There's a lot more to tap into via DEFI. Ethereum, Cardano, Polkadot and others have a lot of potential. Ethereum has outperformed Bitcoin for it's entire existence. In 2017 when Bitcoin was where Ethereum is now it traded sideways for months and by this time in 2017 had not yet broken $2,000.

And with gas fee burning Ethereum would actually become deflationary. Every time a transaction occurs it would burn ETH. So over time it would add up and the supply would dry up. So Ethereum could also become a store of value. Hell I would argue it already is. 1 ETH is worth more than 1 OZ of gold. People that bought gold actually lost wealth because it did not keep up with inflation. Look at where the price of gold was 9 years ago vs now.

Here's the 2017 BTC / 2021 ETH price history:

Ethereum Open Price 2021:
Jan 01, 2021   737.71
Feb 01, 2021   1,314.86
Mar 01, 2021   1,417.15
Mar 14, 2021   1,908.64

Bitcoin Open Price 2017:
Jan 01, 2017   963.66
Feb 01, 2017   970.94
Mar 01, 2017   1,180.04
Mar 14, 2017   1,232.16
Apr 01, 2017   1,080.61
May 01, 2017   1,421.03
Jun 01, 2017   2,404.03
Jul 01, 2017   2,436.40
Aug 01, 2017   2,727.13
Sep 01, 2017   4,901.42
Oct 01, 2017   4,395.81   
Nov 01, 2017   6,440.97
Dec 01, 2017   10,198.60
Dec 17, 2017   19,475.80

https://finance.yahoo.com/quote/BTC-USD/history?period1=1483228800&period2=1514764800&interval=1d&filter=history&frequency=1d&includeAdjustedClose=true

https://finance.yahoo.com/quote/ETH-USD/history?p=ETH-USD

[obsidian]

[Bindare_Dundat]

I dont trust him as far as I can throw that guy.

[Griffith]

Polkadot Open price:
Jan 01, 2021 9.29
Mar 21, 2021   37.36
Increase: 402%

I only hold just over 1% DOT in my portfolio though.

[obsidian]

This guy makes a few good points talking about the fundamentals of ETH. For ETH to go to 10K it would need an inflow of +/- $950 billion. That would give it a market cap of $1.15 trillion. Of course that would require the crypto space to grow by a few trillion dollars because not all of it would go to ETH. It sounds crazy but look how far we've come already in 2020 / 2021.

[obsidian]

Polkadot Open price:
Jan 01, 2021 9.29
Mar 21, 2021   37.36
Increase: 402%

I only hold just over 1% DOT in my portfolio though.

Yes Polkadot and Cardano both performed stellar in 2021. Cardano has gone up an insane amount the past 1 year even exceeding Dogecoin. Look how much Terra is up in 1 year. An astounding 15,609%!!

People get caught up in Bitcoin's price and that's almost all the media is talking about. Most people that don't know much about cryptos think Bitcoin is the only crypto. The reality is if you have $10,000 and not super wealthy and want to grow your wealth Bitcoin at this point is not the fastest horse in the race. For it to 10x from here it would need an influx of $10 trillion! The smaller market caps could 10x a lot easier. Smaller amounts of money will move them by larger amounts.

[Griffith]

Here's Charles Hoskinson's take on the future of Cardano, he's trying to work with African governments to use ADA:

https://zycrypto.com/millions-of-africans-to-benefit-from-cardanos-expanding-ecosystem/

Millions of Africans to benefit from Cardano’s expanding ecosystem

Cardano is making more headlines as it scores points in getting allies in Africa. So far, Africa has been largely untouched by most blockchain-based tech companies, but Cardano seems to have identified quite an opportunity in the continent. The news was broken by IOHK CEO, Charles Hoskinson, in a short YouTube video.

According to Hoskinson, Cardano is working with various African governments to develop digital entities that will open the gates for millions of people to benefit from the expanding Cardano ecosystem.

Forming New Markets

Going on, Charles opines that this move will greatly contribute to helping millions of Africans that have had no prior access to digital resources and services in setting up with these long-awaited growth opportunities. These benefits will include the creation of digital identities that can be linked to rich metadata, digital wallets, and payment systems.

Granted, this is likely to result in the emergence of a new larger market based out of the digital age. Charles estimated the new market in Africa to total around $5 trillion, something that makes this a high priority for the Cardano ecosystem as a whole.

Africa is Not Poor

Charles Hoskinson doesn’t believe that Africa is a poor continent as mostly portrayed on the global stage. According to him, it’s the lack of proper resource utilization that has stunted its growth.

With a new, more advanced system, the African economy will get the chance to prevent bad decisions and curb mismanagement. This way, the real wealth in Africa can be accessible to all since there will be more accountability.

Lessons From China

In Charles’ opinion, Africa’s current economic status is a parallel to China’s a few decades ago when most people on Wall Street thought of China as a poor country.

Once China put in place measures to facilitate smooth wealth utilization, the country’s economy sprung out and has achieved steady growth for decades. China is now one of the largest economies in the world.