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

[OneMoreRep]

If you're looking for short term gains then it's worth buying. Long term (3+ years) then no. When Ethereum 2.0 is ready Matic will likely become redundant.

It would be for a short term (<2 years) hold, but could last longer as I think ETH 2.0 might take a while.

"1"

[Flexacon]

Eth 2.0 is years away from completion

Well it's being done in stages so it could easily mean Matic becomes redundant before eth 2.0 is completed.

[obsidian]

If you're looking for short term gains then it's worth buying. Long term (3+ years) then no. When Ethereum 2.0 is ready Matic will likely become redundant.

I am not sure about that. Layer 2 solutions would still be relevant even after ETH 2.0 is implemented.

https://academy.ivanontech.com/blog/breaking-down-eth-2-0-ethereum-layer-2-and-scalability-explained

[Bindare_Dundat]

Great watch.

[Flexacon]

I am not sure about that. Layer 2 solutions would still be relevant even after ETH 2.0 is implemented.

https://academy.ivanontech.com/blog/breaking-down-eth-2-0-ethereum-layer-2-and-scalability-explained

The noise (from Vitalik) suggests Eth 2.0 will use rollup based Layer 2 solutions and Matic is not roll up based. Matic may still have a place (especially if they add rollup) but it will be taking a smaller piece of the pie if any with Eth 2.0.

As things stand I only see it as a short term bet.

[Flexacon]

Great watch.

Yeah that was a good video and he made a great case for Cardano. But his Zoom replacing Citrix analogy was weak. A better one would be ethereum is like android, binance coin is like iOS and Cardano is a potential android killer. Let's say HarmonyOS.

Like android, Eth is getting regular updates and upgrades, has side projects to help usability (android apps which help your phone work better). Has a high level of acceptance, market share and more resources. It's gonna be harder for Cardano to break into that than the video makes out.

[Bindare_Dundat]

Yeah that was a good video and he made a great case for Cardano. But his Zoom replacing Citrix analogy was weak. A better one would be ethereum is like android, binance coin is like iOS and Cardano is a potential android killer. Let's say HarmonyOS.

Like android, Eth is getting regular updates and upgrades, has side projects to help usability (android apps which help your phone work better). Has a high level of acceptance, market share and more resources. It's gonna be harder for Cardano to break into that than the video makes out.

The bottom line is that all these projects have great people working behind then that have experience. Its just a metter of time to see how it all unfolds.

And what a time. Some really great long term  investments are with us and we are still so very early.

BTC still inching ahead. What a day. So glad Ive been having insomnia lately.Lol

[Theoak*]

When someone boasts about ETH’s new issuance policy just say “Wow neat can’t wait to see what the leaders change it to next.”

[gib]

When someone boasts about ETH’s new issuance policy just say “Wow neat can’t wait to see what the leaders change it to next.”

Exactly. ETH IS NOT DECENTRALIZED. Indeed its quite the opposite.

This may not necessarily be its downfall, but it could well be in the long-run. Certainly a huge issue (flaw?) that people need to be aware of. Short term though seems lots of excitement around it, so occasionally we will see eth pumps (and alt pumps) as BTC's overall market cap grows...

[Flexacon]

Exactly. ETH IS NOT DECENTRALIZED. Indeed its quite the opposite.

This may not necessarily be its downfall, but it could well be in the long-run. Certainly a huge issue (flaw?) that people need to be aware of. Short term though seems lots of excitement around it, so occasionally we will see eth pumps (and alt pumps) as BTC's overall market cap grows...

It's far from a potential downfall.

Right now bitcoin offers very little other than being a store of value or "digital gold", so you hold Bitcoin because of its scarcity. You only gain anything if there is and increase in demand for it, otherwise at best it breaks even for you or loses value.

Eth offers a potential financial incentive for "locking" it up on their network. That is where it's store value will come from. Locking up your Eth will eventually be like owning "digital real estate". You sit back, collect rent and don't need too worry much about it losing value as by its very nature there will be demand for it..

Once the gold rush is over everyone will naturally want to migrate to property. If this stays a 2 horse race, then it's only a matter of time before Eth overtakes Bitcoin (admittedly it could still be a long ass time)

[Theoak*]

I

Eth offers a potential financial incentive for "locking" it up on their network. That is where it's store value will come from. Locking up your Eth will eventually be like owning "digital real estate". You sit back, collect rent and don't need too worry much about it losing value as by its very nature there will be demand for it..

I do that  now with Btc, Eth, Ltc.  This is not exclusive to Eth only. "Rent" is paid to me monthly in BTC.

[Flexacon]

I do that  now with Btc, Eth, Ltc.  This is not exclusive to Eth only. "Rent" is paid to me monthly in BTC.

And Eth is just as much a store value right now as a decentralized bitcoin.

My point was more about where all this is going and that's generally the whole point of crypto, moving things forward into a new world. Otherwise we might as well stick to holding cash, gold and ammunition ala anabolic.

[Bindare_Dundat]

Im getting a little worried at the parabolic run Eth is having. Theres been some bearish divergences and its  ascending channel looks liks it could form a wedge. . We all know how BTC's wedge ended just recently. Took a big shit. Might happen here too and we'll see BTC regain dominance. 

Edit: Also, parabolic runs usually have big corrections till the next big news comes around the corner. Or will this carry into the eip1559 timeframe and then take a dump?Time will tell .

[Bindare_Dundat]

And Eth is just as much a store value right now as a decentralized bitcoin.

My point was more about where all this is going and that's generally the whole point of crypto, moving things forward into a new world. Otherwise we might as well stick to holding cash, gold and ammunition ala anabolic.

Maybe its cause I havent been sleeping these days and my brain is turning to mush, but how is this so when they arent burning any eth yet? How could it be a store of value when the supply is still unlimited as far as I know.  Arent these things tied in to how stored value works in some regard?

[Flexacon]

Im getting a little worried at the parabolic run Eth is having. Theres been some bearish divergences and its forming a ridiculous ascending wedge. We all know how the BTC's wedge ended just recently. Took a big shit. Might happen here too and we'll see BTC regain dominance.  Time will tell if this will carry into eip1559 time frame.

Look what bitcoin did between Jan 2014 to Dec 2018. Then go look at Eth between Jan 2018 and now.

Eth is on an almost identical trajectory to that of Bitcoin which ended it's parabolic run at close to 20K.

[Flexacon]

Maybe its cause I havent been sleeping these days and my brain is turning to mush, but how is this so when they arent burning any eth yet? How ould it be a store of value when the supply is still unlimited as far as I know.

Same reason bitcoin is seen as a store of value. It's an asset that's holding it's value.

[obsidian]

Maybe its cause I havent been sleeping these days and my brain is turning to mush, but how is this so when they arent burning any eth yet? How could it be a store of value when the supply is still unlimited as far as I know.  Arent these things tied in to how stored value works in some regard?

The ETH inflation rate (amount of ETH minted) is still relatively low. Right now it has a supply which is only 6x that of Bitcoin. Yet the price is not 1/6th of BTC. At its peak Ethereum's value was as high as 15% of 1 Bitcoin in 2017. Over its life it has outperformed Bitcoin however BTC did outpace Ethereum at some points - depending on which timeframe you look at.

You make it sound like there's a few trillion Ethereum available because of the unlimited supply. This is not the case. Go look at the amount in circulation. And it will not inflate that much by the time EIP 1559 comes in July. I feel like Ethereum's price should have been $9,000-$10,000 with a price of BTC at $60,000.

I wonder why Zcash is not worth more. It has the same supply cap as Bitcoin - 21 million. And Zcash can also be more anonymous than it's big brother Bitcoin. Why is ZEC so cheap? I have a few ZEC that I mined in 2018. Back then you could still mine it with a GPU.

[obsidian]

[obsidian]

Shark Tank's Kevin O'Leary is bullish on Ethereum and James Wang, ex Ark Analyst, thinks it's headed to $40,000.

[Bindare_Dundat]

Shark Tank's Kevin O'Leary is bullish on Ethereum and James Wang, ex Ark Analyst, thinks it's headed to $40,000.

Lol fuck that clown. Lied about owning crypto. Called it shit while accumulating and then using lame excuses  like he couldn't say he owned any for whatever reason. Ok, but you didn't have to call crypto garbage , just could have said, I dont know enough about it or whatever.

Just like other liars that quietly collected btc while publicly calling it useless.

[Bindare_Dundat]

The ETH inflation rate (amount of ETH minted) is still relatively low. Right now it has a supply which is only 6x that of Bitcoin. Yet the price is not 1/6th of BTC. At its peak Ethereum's value was as high as 15% of 1 Bitcoin in 2017. Over its life it has outperformed Bitcoin however BTC did outpace Ethereum at some points - depending on which timeframe you look at.

You make it sound like there's a few trillion Ethereum available because of the unlimited supply. This is not the case. Go look at the amount in circulation. And it will not inflate that much by the time EIP 1559 comes in July. I feel like Ethereum's price should have been $9,000-$10,000 with a price of BTC at $60,000.

I wonder why Zcash is not worth more. It has the same supply cap as Bitcoin - 21 million. And Zcash can also be more anonymous than it's big brother Bitcoin. Why is ZEC so cheap? I have a few ZEC that I mined in 2018. Back then you could still mine it with a GPU.

There's 115million ether in circulation currently. Up 4% from last year. Is that correct?

Eip 1559 isn't here yet. Wasnt it already supposed to be out in February? I keep hearing more and more talk about how difficult it will be to upgrade to 2.0.

Dont Cardano and Solano already do everything Eth wants to be, is that not correct?

Whats kept eth from being 9k yet then?
You tell me,  why is zcash so cheap?

Always appreciate your input. It helps.

[obsidian]

Lol fuck that clown. Lied about owning crypto. Called it shit while accumulating and then using lame excuses  like he couldn't say he owned any for whatever reason. Ok, but you didn't have to call crypto garbage , just could have said, I dont know enough about it or whatever.

Just like other liars that quietly collected btc while publicly calling it useless.

Lol I don't doubt a lot of big critics have crypto. Bill Gates, Warren Buffet? They could easily throw a few million at crypto and not even blink an eye.

Let's look at where we are now compared to Bitcoin's 2017 run. I did this comparison before and it looks like I used the wrong day (2nd of the month) for some of the Bitcoin monthly open prices in 2017. So these differ from my other posts.

Ethereum Open Price 2021:
Jan 01, 2021   737.71
Feb 01, 2021   1,314.86
Mar 01, 2021   1,417.15
Apr 01, 2021   1,919.16
May 01, 2021   2,777.17   (High of 2,866.19)

Bitcoin Open Price 2017:
Jan 01, 2017   963.66
Feb 01, 2017   970.94
Mar 01, 2017   1,180.04
Apr 01, 2017   1,080.61
Apr 14, 2017   1,170.33
May 01, 2017   1,348.30   (High of 1,434,32)
Jun 01, 2017   2,288.33
Jul 01, 2017   2,492.60
Aug 01, 2017   2,871.30
Sep 01, 2017   4,701.76
Oct 01, 2017   4,341.05   
Nov 01, 2017   6,440.97
Dec 01, 2017   10,198.60
Dec 17, 2017   19,475.80

[obsidian]

There's 115million ether in circulation currently. Up 4% from last year. Is that correct?

Eip 1559 isn't here yet. Wasnt it already supposed to be out in February? I keep hearing more and more talk about how difficult it will be to upgrade to 2.0 and Cardano already does everything Eth wants to be, is that not correct?

Whats kept eth from being 9k yet then?
You tell me,  why is zcash so cheap?

Always appreciate your input. It helps.

Bitcoin being an older crypto weathered the 2018 crash better than Ethereum. So Ethereum lost a lot of ground and dropped to around $80. Cardano and many other cryptos also crashed a great deal. Bitcoin crashed also but not as much from it's ATH. So now Ethereum has more ground to make up and this is one of the reasons it is not @ $9k right now. Blockchains appear to follow Metcalfe's law and so far Ethereum has been on a similar trajectory as Bitcoin. It is ahead as far as price goes compared to Bitcoin's point in time in 2017.

But look how the price has been trending. The price doubled from January to March and again from March to May. Another doubling would put it close to $6,000 and the next at $12.000.

Even if EIP-1559 is not implemented then Ethereum's inflation per year will eventually trend to zero.

https://learn.equos.io/news/how-does-eth-inflation-effect-its-value

As one Twitter commenter pointed out, with ETH, the annual inflation per year will eventually trend to zero. This is graphically represented in the below chart taken from the Ethereum whitepaper.



IN addition, not all ETH that is mined is sold by miners since many of them HODL them out of circulation. Many more tokens are permanently lost due to various reasons, from security breaches to human error, or even death.

Imagine what would happen to the price if it became deflationary?!

I am not sure why privacy coins like Zcash and Monero are not worth more. They could pump if a lot of crypto tax regulation is passed as people try to find a haven from it. They offer privacy features that would be ideal for heavy tax scenarios. Perhaps people are leery to invest in privacy coins because they are concerned that governments will outlaw them.

[obsidian]

I saw a documentary on Bitcoin.  What an odd group.  I'll stay with cash for now, but thanks.
Bunch of Internet geeks looking for the funny money to use as currency, created by a guy who was undefined.  Sounds legitimate.
Their big selling feature to stores is, we only take 1% of transactions.  Uhh...yeah, I'll pass again.  If the 3% on a card is that big an issue, just take cash.

From the front page in this thread.

[Humble Narcissist]

Bill Maher just destroyed cryptocurrency on his show last night.  He's right.