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

[polychronopolous]

He is arguing that digital assets, NFTs and Defi could become mainstream, and if so, it will be Ethereum which is used for this.

Maybe Ethereum can come up with something cool vis-ŕ-vis all those eggheads working together but a better 'store of value' in comparison to bitcoin?

Bitcoin is a decentralized algorithm whose production is cut in half every 4 years. Nobody can stop it. It can't be fucked with.

Ethereum is a centralized project headed by a group of guys. These guys can change the rules at their own whim. There is a door to knock on if governments want to shut the entire thing down.

I think some of you people need to step away from the youtube videos promising SICK 12,682% life changing gainzzzzz and really take a deep hard look into where you are putting your money into.

[Mayday]

That’s a strong uptrend. I wouldn’t be surprised to see it go to 60K before there’s a pullback.

I had 55k pegged as the next target from 40k so 55-60 is a good ballpark.

The spanner in the works for pullbacks is institutions. I expected a larger pullback from 40k and it didn’t happen. Elon bought it all and fucked me up lol. I was wrong about the pullback but correct about the rally at least.

So let’s say we hit 55-60, the pullback could be mild again as the next big money gobbles up the downtrend.

I think shit has got real. I feel this means we can’t trust market pullbacks as a sell signal because they could be intentional and be a signal of a new market participant entering the market.

I also don’t think we can believe in diminished returns for growth over previous years because we do not have an established market yet. Dimished returns happens when a market is in a maturing phase. We have had Only Tesla join which is only 1 out of thousands of organisations wanting to get in.

This means we are still in the establishment phase and therefore growth can well exceed 2017. I think we will see a peak which will be a takeout, lots of people sell then suddenly it reverses and boosts to 250k before having a proper cool down.

[obsidian]

Maybe Ethereum can come up with something cool vis-ŕ-vis all those eggheads working together but a better 'store of value' in comparison to bitcoin?

Bitcoin is a decentralized algorithm whose production is cut in half every 4 years. Nobody can stop it. It can't be fucked with.

Ethereum is a centralized project headed by a group of guys. These guys can change the rules at their own whim. There is a door to knock on if governments want to shut the entire thing down.

I think some of you people need to step away from the youtube videos promising SICK 12,682% life changing gainzzzzz and really take a deep hard look into where you are putting your money into.

Ethereum has already come up with something cool. Smart Contracts. And they are working towards Proof of Stake. This will reduce the power usage of the Ethereum Network. Transaction speed will also shoot up dramatically.

The past 5 years Ethereum has outperformed Bitcoin. Go look at the charts and compare their gains. An investor would have made more money investing $10,000 in Ethereum 5 years ago than investing $10,000 in Bitcoin.

Bitcoin is a Proof of Work project - as Ethereum is. Ethereum 2.0 is Proof of Stake. So Bitcoin will continue to use a lot of electrical power. Governments can shutoff electrical supply to Bitcoin mining operations as they have done in China. They can ban it as India is planning to do. You think the price will not be volatile if that happens? Let's say only a few nations or banana republics allow Bitcoin mining operations. Now that becomes a single, centralized point of failure. Hell China already account for more than 50% of Bitcoin mining. That makes it centralized. Without mining Bitcoin will cease to exist because transactions won't be processed.

Ethereum has over 7000 nodes vs Bitcoin's 11,000 nodes. It is hardly centralized. And we know who founded Ethereum but Ethereum is not controlled by the founders. So that is not a correct statement Ethereum is decentralized. Ripple is more centralized.

[obsidian]

https://www.ibtimes.com/heres-why-ethereum-could-beat-bitcoin-best-asset-2021-3129902

[obsidian]

[Mayday]

Brutal smackdown inside 15mins from 48.2k to 45.8k crucifying anyone who was long.

Then rally up, down, up, down..... this is what I mean in my post above. The big holders are messing with everything and the weird stuff is seemingly flagging a new buyer entering the game, or an existing buyer increasing their position.

[obsidian]

Brutal smackdown inside 15mins from 48.2k to 45.8k crucifying anyone who was long.

Then rally up, down, up, down..... this is what I mean in my post above. The big holders are messing with everything and the weird stuff is seemingly flagging a new buyer entering the game, or an existing buyer increasing their position.

Meanwhile I just HODL through all that shit lol! I was holding when the crypto market crashed in 2018-2019. I don't give a fuck lol! I'd rather see my crypto holdings go to zero than sell and see it go to the moon. Yes sometimes you gotta sell some to try and get more. Because let's face it cryptos go up and down as people take profits.

Go look at what happened to Bitcoin in 2017. It was going up to almost $5,000. Then it corrected down to $3,600. Gradually it pumped up to $20,000. Then it had the final crash down to $3500.

[obsidian]

Corrections are going to happen and are healthy. Things can't just go up and up.

[gib]

lol that Mark Cuban really is a buffoon. He's already a joke among the silicon valley tech community, but seems to appeal to the "average American", perhaps because he bought a sports team? Also always easy for him to give "sound bites" to dumbed down mainstream media, including on matters of "business and finance".

To call Eth (essentially computer code enabling smart contracts - an experimental concept which will of course be duplicated and made entirely free once perfected), with BTC (first layer money) is ludacris.

it's very obvious what happened in his little bird-brained mind. Something like this...

"Hmm, I missed out on Bitcoin. (I know I was wrong, and I wished I hadn't been). Dohhhh, I know what? I'll buy some Eth because it looks "cheaper". Then, after I've done that, I'll then go out pretend I know a little about "smart contracts" and then somehow mix that concept with Eth being "even better money than Bitcoin". I'll get some publicly as mainstream media know me as a "tech innovator".

Lol - good luck with that, genius Cuban. Not quite as easy as that, and you just lost all crypto cred (not that you actually had any in the first place)...

[gib]

Maybe Ethereum can come up with something cool vis-ŕ-vis all those eggheads working together but a better 'store of value' in comparison to bitcoin?

Bitcoin is a decentralized algorithm whose production is cut in half every 4 years. Nobody can stop it. It can't be fucked with.

Ethereum is a centralized project headed by a group of guys. These guys can change the rules at their own whim. There is a door to knock on if governments want to shut the entire thing down.

I think some of you people need to step away from the youtube videos promising SICK 12,682% life changing gainzzzzz and really take a deep hard look into where you are putting your money into.

Fully agree.

[SOMEPARTS]

Both my mother and my weed addled contractor asked me about cryptocurrency this week.

That's either good news for crypto or the equivalent of the shoeshine boy giving stock tips. 

[gib]

Both my mother and my weed addled contractor asked me about cryptocurrency this week.

That's either good news for crypto or the equivalent of the shoeshine boy giving stock tips. 

Well thing is that unlike other types of bubbles (stock being the perfect example), its impossible to create more Bitcoin than there are. With stocks, and the tech bubble, more and more ".coms" were being created. Eventually it had to pop. Bitcoin is different in that there is no extra supply that can ever be created beyond what the algorithm allows. (And this of course why we see scammers and shysters coming along creating and promoting "alts"). So long as they buy Bitcoin, everyone benefits. Its vital you educate them on the difference between Bitcoin, and alts.

[Griffith]

https://www.ambcrypto.com/one-eth-is-worth-more-than-one-ounce-of-gold-heres-what-this-means/amp/

One ETH is worth more than one ounce of gold

The cost of 1-ounce of gold in USD is $1824, at the moment and the price of 1 ETH is $1871. This means that if you had bought one ounce of gold a year ago, you would have an unrealized profit of 15.84 percent on your investment currently.

However, if you had bought ETH, a year ago when one ounce of gold was worth $1575.10, you would be in possession of 5.76 ETH and the same is the equivalent of $10776.96 – a 584 percent return on investment.

Interestingly, Ethereum’s correlation with Bitcoin is at 0.85, and though there are talks of Bitcoin flipping Gold, Ethereum is emerging as a competitor having crossed the price of 1-ounce of gold, in less than a decade of its existence.

This is a bullish sign in the long-term as more institutional investment is targeting Bitcoin, and Ethereum may benefit from the spillover.

Ethereum stands out as an enabler of a majority of alts and the DeFi ecosystem and a price correction in the short-term is only indicative of upcoming growth.

[Bindare_Dundat]

The same people that are pumping NFT's on the youtubs, are bullish on ETH. What are NFTs ? I'm not sure,  all I known is billionaires use them for collecting Pokémon cards and digital art. These are the same guys telling us ETH is  a great investment.

Im not gifted in TA but no one has mentioned the low volume lately, except for when the price got hammered down. Anyone else concerned about that? Just seems like ETH has lost alot of wind from its sails recently. 

[Mayday]

The same people that are pumping NFT's on the youtubs, are bullish on ETH. What are NFTs ? I'm not sure,  all I known is billionaires use them for collecting Pokémon cards and digital art. These are the same guys telling us ETH is  a great investment.

Im not gifted in TA but no one has mentioned the low volume lately, except for when the price got hammered down. Anyone else concerned about that? Just seems like ETH has lost alot of wind from its sails recently.

ETH gains 20% in 2 weeks and you believe it’s lost wind from it’s sails?

What gains were you expecting?

[Bindare_Dundat]

ETH gains 20% in 2 weeks and you believe it’s lost wind from it’s sails?

What gains were you expecting?

Honestly,  with all the fomo that's been going around i thought it would at least break 2000. Volume is low. That's what I meant.

[obsidian]

ETH gains 20% in 2 weeks and you believe it’s lost wind from it’s sails?

What gains were you expecting?

LOL exactly! I held Ethereum in 2018 all the way from $1350 down to $85. Never sold any. I have diamond hands. lmao! Yes I should have sold at the top. Only I never did. Lesson learned. I was tempted to sell some when it hit $1870 recently. But I figured it was going to make a run for $2000-$2500. Going to wait a bit because it is trending up. If you look back in time cryptos had mini dumps in bull runs. I still think this bull run has a way to go. Many alts have not even hit their ATHs yet. What are you going to do with you dollars? Let it sit somewhere so it can depreciate? Fuck that! And I know I am not the only one thinking this.

[Bindare_Dundat]

LOL exactly! I held Ethereum in 2018 all the way from $1350 down to $85. Never sold any. I have diamond hands. lmao! Yes I should have sold at the top. Only I never did. Lesson learned. I was tempted to sell some when it hit $1870 recently. But I figured it was going to make a run for $2000-$2500. Going to wait a bit because it is trending up. If you look back in time cryptos had mini dumps in bull runs. I still think this bull run has a way to go. Many alts have not even hit their ATHs yet. What are you going to do with you dollars? Let it sit somewhere so it can depreciate? Fuck that! And I know I am not the only one thinking this.

I like your posts but if you think I'm going to hang on to coins while they drop to almost zero and wait  3  years for a top...just so I can say I have diamond hands on a forum....No thanks.

[obsidian]

I like your posts but if you think I'm going to hang on to coins while they drop to almost zero and wait  3  years for a top...just so I can say I have diamond hands on a forum....No thanks.

Yeah I agree. This time around I won't. Let me ask you do you sell your coins straight to dollars or to a stable coin like USDT or Tether? Are there tax advantages? The moment you convert to dollars it becomes a taxable event. But what if you then sell all the dollars for cryptos a day later. Now you have no dollars in your account. Will the IRS still expect to see tax payments on these unrealized capital gains? They were realized capital gains for a day but then were invested back in the market one day later.

[Bindare_Dundat]

Yeah I agree. This time around I won't. Let me ask you do you sell your coins straight to dollars or to a stable coin like USDT or Tether? Are there tax advantages? The moment you convert to dollars it becomes a taxable event. But what if you then sell all the dollars for cryptos a day later. Now you have no dollars in your account. Will the IRS still expect to see tax payments on these unrealized capital gains? They were realized capital gains for a day but then were invested back in the market one day later.

Does it matter? If it goes down,  its considered a loss, if it goes up ,ill have to pay taxes on the gains. Whether I stall on paying taxes or not by going into stable coins is irrelevant,  no? if you make money you'll eventually pay taxes. I've tried to find ways to lower the burden but haven't found anything to date.

Do you just plan on going from one coin to another? Aren't you planning on selling for dollars at some point?

Of course, I'm not an expert in this field so if anyone knows better I'm all ears.

Omemorerep would be good for this one I think.

[Griffith]

The same people that are pumping NFT's on the youtubs, are bullish on ETH. What are NFTs ? I'm not sure,  all I known is billionaires use them for collecting Pokémon cards and digital art. These are the same guys telling us ETH is  a great investment.

Im not gifted in TA but no one has mentioned the low volume lately, except for when the price got hammered down. Anyone else concerned about that? Just seems like ETH has lost alot of wind from its sails recently.

ETH is currently at $1810, not far from its ATH.

The Winklevoss brothers are bullish on Ethereum and so is Raoul Pal, who is increasing the percentage of ETH he owns compared to BTC.

The volume is a bit down and there may be a correction, we don't really know at what stage we are in this bull cycle.

[Griffith]

https://decrypt.co/57720/ethereum-nft-market-primed-for-explosive-growth-in-2021

Ethereum NFT Market Primed for Explosive Growth in 2021

From virtual land to digital art, a comprehensive, new study delves into the booming market for non-fungible tokens.

A new report on the exploding market for non-fungible tokens (NFTs) reveals that transactions tripled in 2020, reaching more than $250 million in total.

Known as NFTs, these unique digital assets, which exist on the Ethereum blockchain, can be anything from BBC-branded Dr Who trading cards and Ubisoft Raving Rabbids tokens to luxury art pieces.

The biggest sale to date is a set of plots of virtual land, which went for $1.5 million on blockchain game Axie Infinity last week.

The market saw astonishing growth last year, with use cases expanding, buyers vastly exceeding sellers, and plenty of traders making six-digit profits, according to the report, which was released today by leading NFT analysis firm NonFungible.com and foresight business, L’Atelier.

According to the data, the total value of all NFT transactions (which includes sales and all other transactions, such as “breeding” Cryptokitties, “minting” tokens, and renting virtual space) increased from over $62 million in 2019 to in excess of $250 million in 2020.

In 2020, NFT art sales alone grew by 2,800%, per the report, and big brands like Turner Sports and watchmaker Breitling have jumped aboard, making the asset class firmly mainstream.

“Traditional brands like Nike, Louis Vuitton, and Formula 1 are already spearheading the first generation of commercial uses for NFTs,” Nadya Ivanova, chief operating officer at L’Atelier, told Decrypt.

“We expect to see more brands entering and investing more resources in this space as they find new ways to engage virtually, and profitably, with their customers via NFTs,” she added.

The new report finds that NFTs are “primed to become a leading emerging asset class for the Virtual Economy in the years ahead, both in terms of their financial value and their practical uses, and a major driver of economic activity in virtual worlds.”

And major financial players are quickly moving in on this trend and  “seizing the opportunity to capitalize on a broader shift to virtual finance already evident in the rise of cryptocurrencies and decentralized finance,” according to Ivanova.

[Thin Lizzy]

Both my mother and my weed addled contractor asked me about cryptocurrency this week.

That's either good news for crypto or the equivalent of the shoeshine boy giving stock tips. 

This reminds me of when silver  was having a run. As I passed by a church, two old ladies were coming out and one said to the other that silver was $50. I knew then that it was at the top.😂

[Griffith]

lol that Mark Cuban really is a buffoon. He's already a joke among the silicon valley tech community, but seems to appeal to the "average American", perhaps because he bought a sports team? Also always easy for him to give "sound bites" to dumbed down mainstream media, including on matters of "business and finance".

To call Eth (essentially computer code enabling smart contracts - an experimental concept which will of course be duplicated and made entirely free once perfected), with BTC (first layer money) is ludacris.

it's very obvious what happened in his little bird-brained mind. Something like this...

"Hmm, I missed out on Bitcoin. (I know I was wrong, and I wished I hadn't been). Dohhhh, I know what? I'll buy some Eth because it looks "cheaper". Then, after I've done that, I'll then go out pretend I know a little about "smart contracts" and then somehow mix that concept with Eth being "even better money than Bitcoin". I'll get some publicly as mainstream media know me as a "tech innovator".

Lol - good luck with that, genius Cuban. Not quite as easy as that, and you just lost all crypto cred (not that you actually had any in the first place)...

In the interview, Mark Cuban said he'd be 'in the whale listings' for each of the cryptocurrencies he owns, except Litecoin.

He says he owns more in dollars of Bitcoin than he does Ethereum 'but that's changing' as he's buying more ETH in the pullbacks, but nothing more of BTC even when it reached 30K.

[Thin Lizzy]

Both my mother and my weed addled contractor asked me about cryptocurrency this week.

That's either good news for crypto or the equivalent of the shoeshine boy giving stock tips. 

This reminds me of when silver  was having a run. As I passed by a church, two old ladies were coming out and one said to the other that silver was $50. I knew then that it was near the top.😂