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

[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.

[Bindare_Dundat]

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

Lmao. Omg  we are really getting worse and worse with the celebrity know nothings on crypto posts. Stop it guys. Bill Maher knows as much about crypto as my grandma.
At least post an opinion from someone that isn't a moron.

[Flexacon]

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

Most of his points were about bitcoin. He should have just stuck to shitting on bitcoin and not all crypto.

Anyway we've been here before..

[Humble Narcissist]

Lmao. Omg  we are really getting worse and worse with the celebrity know nothings on crypto posts. Stop it guys. Bill Maher knows as much about crypto as my grandma.
At least post an opinion from someone that isn't a moron.

Someone posted the video in another thread.  Watch it.  He is dead on accurate.  I know it's Bill Maher but even a broken clock is right 2X a day. 

[Bindare_Dundat]

Someone posted the video in another thread.  Watch it.  He is dead on accurate.  I know it's Bill Maher but even a broken clock is right 2X a day.

No I'm not going to watch that asshole. Hes a pompous douch that probably has a giant chip.on his shoulder that people are talking about and making money off something that he doesn't understand. Young schmucks coming out of the woodwork with dough made ina fraction of the time it took him to make his.

However,  I do agree that most of the crypto space is completely over valued, alot of it is absolute horseshit and there's too.many people milking the space shilling exchange sign ups.

There are also some legit projects  out there that you can use to your financial advantage.

[affeman]

Lmao. Omg  we are really getting worse and worse with the celebrity know nothings on crypto posts. Stop it guys. Bill Maher knows as much about crypto as my grandma.
At least post an opinion from someone that isn't a moron.

So what are you planning to do with all the "Coins" you bought? Eat it? Drink it? Are they of use in the industry, jewelry, computer chips, aviation, aerospace, like gold, or other industrial metals? Can you fuel your car with it? Or is your only hope that you're gonna find some even bigger idiot than yourself buying it from you for an even higher price, so you can buy some stuff from the real world? I think that's what's called a "Ponzi scheme" in economics.

[Humble Narcissist]

No I'm not going to watch that asshole. Hes a pompous douch that probably has a giant chip.on his shoulder that people are talking about and making money off something that he doesn't understand. Young schmucks coming out of the woodwork with dough made ina fraction of the time it took him to make his.

However,  I do agree that most of the crypto space is completely over valued, alot of it is absolute horseshit and there's too.many people milking the space shilling exchange sign ups.

There are also some legit projects  out there that you can use to your financial advantage.

He debunks everything you just said.

[Bindare_Dundat]

So what are you planning to do with all the "Coins" you bought? Eat it? Drink it? Are they of use in the industry, jewelry, computer chips, aviation, aerospace, like gold, or other industrial metals? Can you fuel your car with it? Or is your only hope that you're gonna find some even bigger idiot than yourself buying it from you for an even higher price, so you can buy some stuff from the real world? I think that's what's called a "Ponzi scheme" in economics.

I buy and sell, I dont collect them for the fuck of it. lol and yeah they put alot of gas in my car, wtf? loll are you brain damaged or is that thick sarcasm that went over my head?


Anyway..... this latest eth move is worrying. Hope im wrong but this looks its gonna come crashing down hard with a steep correction. As it stands this quick a move seems completly detached from any real fundamentals. FOMO run wild?

[Flexacon]

Anyway..... this latest eth move is worrying. Hope im wrong but this looks its gonna come crashing down hard with a steep correction. As it stands this quick a move seems completly detached from any real fundamentals. FOMO run wild?

Why are you worried? You mentioned parabolic growth, but if you look at what Eth has done this year and account for fluctuations, then its growth has been pretty linear.

[Bindare_Dundat]

Why are you worried? You mentioned parabolic growth, but if you look at what Eth has done this year and account for fluctuations, then its growth has been pretty linear.

Perhaps parabolic was overstated,  nevertheless let's see how it pans out but from.what I'm seeing on the charts this is crying for a correction. Could be wrong. 

[polychronopolous]

The adoption of Bitcoin is not going to stop because Bill Maher and a handful of getbiggers are too lazy to take the time to understand what it's all about.

[Mayday]

Someone posted the video in another thread.  Watch it.  He is dead on accurate.  I know it's Bill Maher but even a broken clock is right 2X a day.

I watched it as you suggested. My take was he was doing more of a comedy segment type thing rather than actually talking about it as a use case.

What he said applies to the current system. We are debt based so it’s not real. if you repay debt it vanishes from the money supply (deflation). We use computers to click buttons and make billions without productivity. Jesus was he for real?

I know you love to troll but give yourself an uppercut lol

[Humble Narcissist]

I watched it as you suggested. My take was he was doing more of a comedy segment type thing rather than actually talking about it as a use case.

What he said applies to the current system. We are debt based so it’s not real. if you repay debt it vanishes from the money supply (deflation). We use computers to click buttons and make billions without productivity. Jesus was he for real?

I know you love to troll but give yourself an uppercut lol

And yet the grocery stores and gas stations take my fake fiat money.

[FitnessFrenzy]