Author Topic: Bitcoins - about to hit $5,000 per coin today! (Read 764422 times)

obsidian · « **Reply #5050 on:** February 17, 2021, 01:43:45 AM »

This guy thinks Ethereum is being artificially held back for the benefit of Defi projects. But he reckons that will only work for so long before Ethereum starts shooting up. He also speculates the reason Bitcoin crashed in 2018 was because of high fees and slow transaction speeds of up to a week. So what's different now? Why are high fees not holding Bitcoin back this time around compared to 2018? Or was it the Bitcoin futures that tanked the price?

obsidian · « **Reply #5051 on:** February 17, 2021, 02:01:44 AM »

This is interesting...

gib · « **Reply #5052 on:** February 17, 2021, 02:06:27 AM »

Quote from: obsidian on February 17, 2021, 01:43:45 AM

He also speculates the reason Bitcoin crashed in 2018 was because of high fees and slow transaction speeds of up to a week. So what's different now? Why are high fees not holding Bitcoin back this time around compared to 2018? Or was it the Bitcoin futures that tanked the price?

Last time around there was a fear BTC could not scale as a payment mechanism due to high fees. It is now known that day to day transactions will be done on 2nd layer networks, such as the Lightening Network that can handle thousands of transactions per second. So no longer as a concern this time around.

obsidian · « **Reply #5053 on:** February 17, 2021, 02:48:09 AM »

Quote from: gib on February 17, 2021, 02:06:27 AM

Last time around there was a fear BTC could not scale as a payment mechanism due to high fees. It is now known that day to day transactions will be done on 2nd layer networks, such as the Lightening Network that can handle thousands of transactions per second. So no longer as a concern this time around.

Cool. Yes I read about that. That's an awesome development for Bitcoin. Ethereum has something similar - called the Raiden Network.

https://raiden.network/101.html#:~:text=The%20Raiden%20Network%20is%20an,%2C%20and%20privacy%2Dpreserving%20payments.

Apparently an investor moved $1 billion on the Ethereum network for a $7.5 transaction fee. So why the complaints? I bet Bitcoin's fees are higher.

https://nairametrics.com/2021/01/16/investor-moves-1-billion-for-7-fee-on-ethereum-blockchain/#:~:text=A%20large%20entity%20paid%20a,Ether%20itself%20traded%20around%20%241%2C200.

I recently converted 5 ETH to USD and then bought Dogecoin with it. A few hours later I bought back 6 ETH and still had over $12,000 of Doge as profit. The transaction fees never even crossed my mind. Why would I care about that when I made over $13,000 profit in the trade. And who knows that trade could end up being a lot more profitable if Doge goes anywhere. The celebs have not given up on it and developers are now doing some upgrades for it lol!

https://www.forbes.com/sites/billybambrough/2021/02/14/doge-is-underestimated-elon-musks-fav-bitcoin-rival-dogecoin-is-getting-a-surprise-upgrade/?sh=f77c89b65802

Thin Lizzy · « **Reply #5054 on:** February 17, 2021, 02:58:32 AM »

So, with Blockchain, do you all think there will be one dominant company, like Amazon in online retail, or will it be more spread out?

BtW, the company I asked about, RIOT, has more than doubled since.

gib · « **Reply #5055 on:** February 17, 2021, 03:00:24 AM »

I'm already using a lightening wallet, as are my friends. Its superfast. Basically instantaneous.

We usually put smaller amounts in the lightening wallet, for access when travelling or day to day transactions where accepted. But the core BTC holdings all remain in cold storage.

Bindare_Dundat · « **Reply #5056 on:** February 17, 2021, 03:34:14 AM »

Quote from: obsidian on February 17, 2021, 01:43:45 AM

This guy thinks Ethereum is being artificially held back for the benefit of Defi projects. But he reckons that will only work for so long before Ethereum starts shooting up. He also speculates the reason Bitcoin crashed in 2018 was because of high fees and slow transaction speeds of up to a week. So what's different now? Why are high fees not holding Bitcoin back this time around compared to 2018? Or was it the Bitcoin futures that tanked the price?

Idk know what the issue is but its obvious that something is going on. Alts going up, btc going up, eth farting dust. Its not following the same momentum at all. Still glad I sold when I did. It hasn't stayed above my selling price for longer then an hour since then. That willchange but so far....

gib · « **Reply #5057 on:** February 17, 2021, 03:59:45 AM »

Quote from: Thin Lizzy on February 17, 2021, 02:58:32 AM

So, with Blockchain, do you all think there will be one dominant company, like Amazon in online retail, or will it be more spread out?

BtW, the company I asked about, RIOT, has more than doubled since.

Nothing unique about this company. In fact, be very weary of any company that has "blockchain" in their name...

Griffith · « **Reply #5058 on:** February 17, 2021, 05:16:49 AM »

Quote from: obsidian on February 17, 2021, 01:43:45 AM

This guy thinks Ethereum is being artificially held back for the benefit of Defi projects. But he reckons that will only work for so long before Ethereum starts shooting up. He also speculates the reason Bitcoin crashed in 2018 was because of high fees and slow transaction speeds of up to a week. So what's different now? Why are high fees not holding Bitcoin back this time around compared to 2018? Or was it the Bitcoin futures that tanked the price?

Ben of the 'Bitboy Cypto' channel also believes there is some market manipulation going on with Ethereum, that it could be similar to that Chinese mining group who were apparently manipulating the Bitcoin price recently.

Griffith · « **Reply #5059 on:** February 17, 2021, 05:21:46 AM »

Quote from: Bindare_Dundat on February 17, 2021, 03:34:14 AM

Idk know what the issue is but its obvious that something is going on. Alts going up, btc going up, eth farting dust. Its not following the same momentum at all. Still glad I sold when I did. It hasn't stayed above my selling price for longer then an hour since then. That willchange but so far....

Remember when Ethereum was pumping to ATH's and Bitcoin was falling to 30K and people were saying 26k or 21k could be the next target?

The point is their movements are not necessarily directly correlated with each other, we have seen some decoupling.

Griffith · « **Reply #5060 on:** February 17, 2021, 05:42:56 AM »

Quote from: gib on February 17, 2021, 03:00:24 AM

I'm already using a lightening wallet, as are my friends. Its superfast. Basically instantaneous.

We usually put smaller amounts in the lightening wallet, for access when travelling or day to day transactions where accepted. But the core BTC holdings all remain in cold storage.

Ethereum has their own equivalent, it's called Raiden.

Though with ETH 2.0, it will be able to handle at least 100 000 transactions per second, though possibly near 300 000 TPS, without needing Raiden or any equivalent Lightning wallet.

Bitcoin can handle 4.6 transactions per second.

Bindare_Dundat · « **Reply #5061 on:** February 17, 2021, 05:56:48 AM »

Quote from: Griffith on February 17, 2021, 05:21:46 AM

Remember when Ethereum was pumping to ATH's and Bitcoin was falling to 30K and people were saying 26k or 21k could be the next target?

The point is their movements are not necessarily directly correlated with each other, we have seen some decoupling.

I stopped watching the ethereum chart. Its like clockwork, up and down in the same range last week.
Yes it held its value well while btc was dropping but it wasn't doing nearly as well as a ton of lower cap alt coins. By comparison across other coins its pricing momentum has stalled. Long term investing itll still do well for people but I dont think it'll be as good as some of the higher numbers mentioned.

Thin Lizzy · « **Reply #5062 on:** February 17, 2021, 05:58:31 AM »

Heard Noriel Roubini shitting all over Bitcoin this morning. He’s a bought and paid for globalist. So, to me that’s a positive for crypto.

Thin Lizzy · « **Reply #5063 on:** February 17, 2021, 06:11:14 AM »

Quote from: gib on February 17, 2021, 03:59:45 AM

Nothing unique about this company. In fact, be very weary of any company that has "blockchain" in their name...

Had a similar rise back in 18 and a spectacular fall:

Griffith · « **Reply #5064 on:** February 17, 2021, 06:12:24 AM »

Quote from: Thin Lizzy on February 17, 2021, 05:58:31 AM

Heard Noriel Roubini shitting all over Bitcoin this morning. He’s a bought and paid for globalist. So, to me that’s a positive for crypto.

Here it is:

https://www.bloomberg.com/news/videos/2021-02-17/bitcoin-is-a-self-fulfilling-bubble-roubini-warns-video

polychronopolous · « **Reply #5065 on:** February 17, 2021, 09:05:01 AM »

World’s Largest Asset Manager BlackRock Confirms They’re Looking Into Bitcoin

The Managing Director of the world’s largest asset management company, BlackRock, confirmed they’re looking into Bitcoin.

The world’s largest asset manager, BlackRock, is looking into Bitcoin. This was confirmed by the managing director of the company, Rick Rieder, today.

Rick Rieder, the managing director of BlackRock, the world’s largest asset manager, confirmed that the company is looking into Bitcoin. “We’ve started to dabble a bit into it,” he said, refusing to put a target allocation the company has.
In the interview with CNBC’s SquawkBox, Rieder did say that diversifying one’s portfolio in the current economic reality does make sense. He also said that BlackRock is currently sitting on a lot more cash than they have historically had because traditional hedges don’t work.

We’re holding a lot more cash than we’ve held historically because interest rates don’t work as a hedge and diversifying in other assets makes some sense. So, holding some portion of what you hold in cash and things like crypto seems to make some sense to me.

https://cryptopotato.com/worlds-largest-asset-manager-blackrock-confirms-theyre-looking-into-bitcoin/

Griffith · « **Reply #5066 on:** February 17, 2021, 09:30:18 AM »

https://www.financemagnates.com/cryptocurrency/news/ethereum-attracts-record-216-million-weekly-crypto-inflows/

Ethereum Attracts Record $216 Million Weekly Crypto Inflows

Ethereum, the world’s second-largest cryptocurrency, attracted a record $216 million in ETH-related investment products last week, beating the previous week’s record of $195 million.

The total cryptocurrency assets under management stood at around $47 billion last week.

According to the latest weekly crypto inflows report published by CoinShares, last week saw a total of $602 million investment in digital assets, the third-largest inflows on record. Ethereum remained the standout performer as the world’s second-largest cryptocurrency, accounting for nearly 36% of the total weekly inflows.

“Ethereum was the standout performer with a record $216 million of investment product inflows, beating the previous week’s record of $195 million. Ethereum inflows represented 36% of the digital asset inflows last week, far greater than the share of assets under management at 16%. This highlights how investors are, at least on a relative basis, favoring Ethereum...”

Grayscale accelerated its accumulation of Ethereum in the last few weeks. The asset manager purchased 194,522 ETH in the last 4 weeks. Grayscale now has more than 3.13 million Ethereum under management with a total value of more than $5.5 billion. As of writing, ETH is trading above $1,800 with a total market cap of $207 billion.

FitnessFrenzy · « **Reply #5067 on:** February 17, 2021, 09:53:36 AM »

$ 51,266.02

OneMoreRep · « **Reply #5068 on:** February 17, 2021, 11:05:39 AM »

Here's a random question to you all.

I'm looking to gift a family member (nephew) about $2,500 in cryptos.

I'm thinking either Cardano or Polkadot. Out of those 2, which would you pick and why? I'm also trying to keep it simple and not over diversify by keeping it down to just 1-2 cryptos.

"1"

Bindare_Dundat · « **Reply #5069 on:** February 17, 2021, 11:57:08 AM »

52,207.30

evacnam · « **Reply #5070 on:** February 17, 2021, 12:00:39 PM »

Quote from: OneMoreRep on February 17, 2021, 11:05:39 AM

Here's a random question to you all.

I'm looking to gift a family member (nephew) about $2,500 in cryptos.

I'm thinking either Cardano or Polkadot. Out of those 2, which would you pick and why? I'm also trying to keep it simple and not over diversify by keeping it down to just 1-2 cryptos.

"1"

oh hi Uncle onemorerep

Mayday · « **Reply #5071 on:** February 17, 2021, 12:42:20 PM »

Quote from: OneMoreRep on February 17, 2021, 11:05:39 AM

Here's a random question to you all.

I'm looking to gift a family member (nephew) about $2,500 in cryptos.

I'm thinking either Cardano or Polkadot. Out of those 2, which would you pick and why? I'm also trying to keep it simple and not over diversify by keeping it down to just 1-2 cryptos.

"1"

I hold both in a small amount.

I have 4x more Cardano than I do Polkodot.

I can’t talk about the tech but the market structure is important as XRP messed up and held a lot of alt coins back.

CARDANO recently made the push up to 3rd spot overtaking XRP which no other coin has done. What we ‘might’ see is a rapid acceleration of Cardano in market cap to bring it closer to ETH. Alt at is assuming CARDANO holds 3rd spot in the short term.

Mayday · « **Reply #5072 on:** February 17, 2021, 01:08:43 PM »

Quote from: Bindare_Dundat on February 17, 2021, 05:56:48 AM

I stopped watching the ethereum chart. Its like clockwork, up and down in the same range last week.
Yes it held its value well while btc was dropping but it wasn't doing nearly as well as a ton of lower cap alt coins. By comparison across other coins its pricing momentum has stalled. Long term investing itll still do well for people but I dont think it'll be as good as some of the higher numbers mentioned.

BTC is way more predictable. Just buy BTC if that’s what you want, it’s performing like a demon and has lower risk attached vs alt coins.

The risk for ETH and alt coins is a complete decoupling from BTC where they lose value against it.

OneMoreRep · « **Reply #5073 on:** February 17, 2021, 01:34:05 PM »

Quote from: Mayday on February 17, 2021, 12:42:20 PM

I hold both in a small amount.

I have 4x more Cardano than I do Polkodot.

I can’t talk about the tech but the market structure is important as XRP messed up and held a lot of alt coins back.

CARDANO recently made the push up to 3rd spot overtaking XRP which no other coin has done. What we ‘might’ see is a rapid acceleration of Cardano in market cap to bring it closer to ETH. Alt at is assuming CARDANO holds 3rd spot in the short term.

Don't mind buying both in equal amounts, but will probably do the same approach and hold higher position in cardano.

What trading platform do you use to purchase? Kraken, Binance?

"1"

polychronopolous · « **Reply #5074 on:** February 17, 2021, 04:31:24 PM »

Bitcoin is eating gold