Author Topic: Bitcoins - about to hit $5,000 per coin today!  (Read 892464 times)

Humble Narcissist

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5725 on: April 09, 2021, 01:01:50 PM »
It's pride with these types of people. They can never admit they're wrong no matter how ridiculous they look.

Soon enough you will able to be able to buy a house with one BTC and for them(and their silly delusions) it will still be "worth less than a glass of water".
When people actually start buying houses with Bitcoin I will believe it.

Humble Narcissist

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5726 on: April 09, 2021, 01:04:13 PM »
Dude, do you still not get it???

It's THE USD THAT IS THE MONOPOLY MONEY!

How can that be so hard to comprehend? I have been explaining this since the beginning of the thread. Could I suggest you please take the time to re-read the entire thread and then really have a deep think. Let your stubbornness go, and open your mind a little. You will be the better for it. Trust me.
And I have been explaining where you are wrong.  How can you call fiat currency Monopoly money when a person actually purchases real products with it?  Bitcoin only has value if you cash out to fiat currency.


Bindare_Dundat

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5728 on: April 09, 2021, 11:13:16 PM »
Booooom

Bindare_Dundat

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5729 on: April 09, 2021, 11:14:11 PM »
And I have been explaining where you are wrong.  How can you call fiat currency Monopoly money when a person actually purchases real products with it?  Bitcoin only has value if you cash out to fiat currency.


Man, you are one stubborn SOB. Lol

Mayday

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5730 on: April 10, 2021, 12:37:23 AM »
When people actually start buying houses with Bitcoin I will believe it.

Forget the 'money' line that some people push. The currencies will be here after all this mess, bitcoin isn't going to take over them in the near future.

You need to consider it as a 'stable asset' against the Money Supply. This is what Bitcoin is.

Instead of wondering whether one should put their money into stocks, metals, property, art etc you can dump it in bitcoin and be protected from currency devaluation. If the money supply goes up 25% then Bitcoin goes up 25%, that is how it will work once it becomes larger and less volatile.

You use it as savings. Then when you are ready to purchase something, put it into fiat and buy what it is you need.


Soros is already in. Bill Gates is already in. All these fuckers are not only making billions off QE but also buying assets involved in crypto and gaining from it aswell.

All that BS about Gates giving away his fortune..... the mofo is the largest farmland owner in the US, has his fingers all through the vaccines and is also snapping up crypto related assets along with crypto. Oh but he'll tell every average Joe not to buy it..... if you believe what he says, well i wish you the best.

FitnessFrenzy

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5731 on: April 10, 2021, 01:37:48 AM »
$60,792.73

FitnessFrenzy

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5732 on: April 10, 2021, 01:56:54 AM »

Bindare_Dundat

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5733 on: April 10, 2021, 03:35:22 AM »
Forget the 'money' line that some people push. The currencies will be here after all this mess, bitcoin isn't going to take over them in the near future.

You need to consider it as a 'stable asset' against the Money Supply. This is what Bitcoin is.

Instead of wondering whether one should put their money into stocks, metals, property, art etc you can dump it in bitcoin and be protected from currency devaluation. If the money supply goes up 25% then Bitcoin goes up 25%, that is how it will work once it becomes larger and less volatile.

You use it as savings. Then when you are ready to purchase something, put it into fiat and buy what it is you need.


Soros is already in. Bill Gates is already in. All these fuckers are not only making billions off QE but also buying assets involved in crypto and gaining from it aswell.

All that BS about Gates giving away his fortune..... the mofo is the largest farmland owner in the US, has his fingers all through the vaccines and is also snapping up crypto related assets along with crypto. Oh but he'll tell every average Joe not to buy it..... if you believe what he says, well i wish you the best.

Exactly!

polychronopolous

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5734 on: April 10, 2021, 07:10:11 AM »
https://www.google.com/amp/s/www.coindesk.com/china-bitcoin-crypto-millionaire-real-estate%3famp=1

https://bitcoin-realestate.com/

https://www.google.com/amp/s/www.cnbc.com/amp/2021/04/07/rick-carusos-company-to-begin-accepting-rent-payments-in-bitcoin.html

With a few clicks of the mouse I can also convert my BTC into physical gold stored in a Brinks vault.

I personally would be okay with them taking custody of my gold but if I wanted to self-custody the gold, there is an option for delivery as well.

https://www.paxos.com/paxgold/

Humble Narcissist

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5735 on: April 10, 2021, 12:59:00 PM »
With a few clicks of the mouse I can also convert my BTC into physical gold stored in a Brinks vault.

I personally would be okay with them taking custody of my gold but if I wanted to self-custody the gold, there is an option for delivery as well.

https://www.paxos.com/paxgold/
I would do it now.

Mayday

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5736 on: April 10, 2021, 02:43:09 PM »
$60,792.73


I just took a double or nothing bet with a mate that it’s close below 60k this morning (he lost the last bet and wanted to go again). 600M in shorts got liquidated and then longs got liquidated and back at 58.7k.

I am pondering whether the volatility has decreased from both the top and the bottom. We are seeing margin traders getting constantly wrecked meanwhile price is extremely stable and coins continue to leave exchanges.

Perhaps we should have spiked to 80k already, yet we didn’t. Perhaps we should have pulled back to 40k, yet we haven’t. The buying pressure from the bottom is still present, institutions quite happy to take small pieces and keep the price below 60k by backing off on order sizes. Meanwhile the underlying data shows the price floor ripping upwards at around 46k now as coins continue to be pulled from exchanges.

As the floor increases it puts increasing pressure on the spot price to go for a run while preventing any sizeable dip. Price can’t be kept down for much longer though, futures wants 80k by month end.


Mayday

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5737 on: April 10, 2021, 02:51:11 PM »
Exactly!

It’s interesting from my perspective to see Americans be easily swayed to conspiracy theories and believe the rich are controlling every aspect of life on Earth yet when they are armed with the knowledge that the rich are involved in Bitcoin those same Americans claim it’s useless....

The rich are using QE to pillage the current world.
The rich are buying into crypto to control the next world.

It’s that simple and it’s right in front of us.

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5738 on: April 10, 2021, 05:38:42 PM »
Forget the 'money' line that some people push. The currencies will be here after all this mess, bitcoin isn't going to take over them in the near future.

You need to consider it as a 'stable asset' against the Money Supply. This is what Bitcoin is.

Instead of wondering whether one should put their money into stocks, metals, property, art etc you can dump it in bitcoin and be protected from currency devaluation. If the money supply goes up 25% then Bitcoin goes up 25%, that is how it will work once it becomes larger and less volatile.

You use it as savings. Then when you are ready to purchase something, put it into fiat and buy what it is you need.


Soros is already in. Bill Gates is already in. All these fuckers are not only making billions off QE but also buying assets involved in crypto and gaining from it aswell.

All that BS about Gates giving away his fortune..... the mofo is the largest farmland owner in the US, has his fingers all through the vaccines and is also snapping up crypto related assets along with crypto. Oh but he'll tell every average Joe not to buy it..... if you believe what he says, well i wish you the best.

Well said. Its hard to believe people simply can't understand this. Those who "trust the system" are essentially slaves.

Through various phases of BTC was that the cypher-punks, mathematicians, geniuses, dreamers, anarchists, realists, freedom-lovers, smart economists, technologists, etc who aall understood. The super rich and those with super political control then had to make a decision - do we fight and resist the people? Or do we accept this is happening, and embrace whilst trying to maintain power. Its the latter which is now playing out (as the former is virtually impossible, unless you actually kill people - and even then the algorithm itself still continues to function, just with less people who have access to their stored wealth).

So, we as individuals, have an opportunity to front run the big boys. Big funds, investment banks, pension funds, corporates, retail banks, insurance companies, central banks, Governments. There is still ample time to convert fake sovereign money (of unlimited supply) into global money (of 100% limited supply). But each and every day, minute, second, that opportunity to capture wealth is declining, as of course the more wealth that is moved into Bitcoin, the higher the % of wealth is captured by Bitcoin, making its price higher (and the proportionate relative percentage upside lower).

But gain, it still early early days.

I would urge everyone to forget about daily prices (even though its fun). A good short term horizon next time marker could be March 2025 (around 9 months or so after the next halvening (likely in June 2024 at this stage).

For those who are interested in short term, as I said before we have a nice solid base above 50K for BTC. Everytime there is a bump above, fewer and fewer week hands selloff. (Some might be early BTC owners taking small gains, some might be HNWs or funds adjusting their balance to ensure BTC % holding is not too high for total allocation, some might be funds who want to lock in a very nice gain for the year and simply "go to the beach" - if your fund is already 20%+ up over the year you have already hit a great number so why risk losing that and the associated bonus). But either way, that consolidation is really building a very solid foundation. Coinbase IPO coming could be what is needed to boost the next big move.


gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5739 on: April 10, 2021, 05:42:24 PM »
I would do it now.

Moving an asset that is increasing in value, into one that is decreasing in value, is not typically a smart idea when the prime function of the asset is to preserve wealth...

Having said that, I think its quite OK to own and hodl a little gold. I would not rule gold out entirely. BTC will slowly but surely consume gold's market cap, but a point may well come, when those in BTC may look for an analogue alternative and might actually buy a little gold for the first time. Combine that with social media and a bitcoin payment network and you have the makings of a gold boom at some time in the future...

El Diablo Blanco

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5740 on: April 11, 2021, 03:36:25 AM »
Aren’t there only something like 20M BTC since a lot are considered lost? Out of those 20 million how many actually people hold them since some dudes have a shitload. How can one asset held by maybe 15 million max people be worth so fucking much?

Mayday

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5741 on: April 11, 2021, 04:14:40 AM »
Aren’t there only something like 20M BTC since a lot are considered lost? Out of those 20 million how many actually people hold them since some dudes have a shitload. How can one asset held by maybe 15 million max people be worth so fucking much?

21M BTC supply

A few are lost yes.

Like most things 5% own 95%.

There is 100M satoshi per Bitcoin so we aren’t running out.

It’s just that today a full coin is affordable whereas in 2022 a full coin will only be affordable by 5% of the population and then by 2025 only 2% will afford a full coin. People will purchase satoshis just fine.

Don’t overthink the ‘full coin’ thing too much. One should consider if you have 10K of savings in a
Bank account it earns zero interest vs in Bitcoin it will increase it’s value by 100%/yr.

Griffith

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5742 on: April 11, 2021, 05:27:17 AM »
XRP up 130% in the past week.

VeChain (VET) up 50%.

OneMoreRep

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5743 on: April 11, 2021, 08:31:33 AM »
So I finally managed to read a couple of books on Crypto finance. While I am not an expert on the entire crypto eco-and-financial-system, I am now at least better able to analyze individual cryptos with relative ease as compared to before. As an Accounting & Economics BS/MBA/CPA, the study of cryptocurrencies was never an area of study in my day. I am strong at financial technical analysis via candlestick patterns, fibonacci retracements and of course tried & trusted research and have started to at least marry that knowledge into the world of Crypto. Again, just really getting my feet wet, as my true fields of expertise when it comes to investments is within Real Estate Investment Properties, REITs, Taxation loopholes, Index Funds, ETFs and Government + Corporate Bonds. With regards to cryptocurrencies, I am now truly beginning to appreciate the relationship that circulating supply, crypto price and market cap all have when determining what the maximum "estimated" price of a crypto could be. I've also come to appreciate that the godfather of all cryptos at this point is Bitcoin and it's truly the main measuring stick to compare and contrast the performance of other possible cryptos. In other words, its become clear that all other cryptocurrency price projections have to be pegged to BTC, as it's essentially the trailblazer that shows others how far they could, in theory, go. I am now seeing that the crypto market's TOTAL market cap that hovers at around $2+ Trillion has much importance in determination of "possible" future prices.

Recently, I had purchased both Cardano (ADA) + Polkadot (DOT) for my nephew as a gift. After analyzing both, I realized that getting rich from either of those would be farfetched, unless the cryptos were both bought when individual prices were worth less than $0.10 and to the tune of 10,000+ ADAs and/or DOTs.

Looking closely at both these cryptos, I realized that the true maximum price ADA could possibly attain in a warped reality is likely around $35-$40. To even reach that price, ADA would need a market cap that is > $1 Trillion (in other words, it would have to be an equal to BTC, if not larger in terms of market cap). Hell, for ADA to reach similar prices as present day BTC ($60,000), it would have to have a market cap of roughly $67 Trillion. Given that the entire world's money supply is anywhere between $90-120 Trillion, I don't ever imagine a reality where ADA would suck up more than half of the world's money supply. That said, Cardano is indeed looking at bigger goals (integration into Ethiopia as practically a new currency for the country). I also realize that Africa's potential to be the next financial frontier is massive, given that they have a lot more untapped natural resources and people capital than many other continents. No surprise that China is aggressively digging their claws into that continent.

Polkadot, by way of it's smaller circulating supply of 928,426,052 (ie scarcity giving it more actual value) and present market cap of $37,483,357,697, has a lot more potential to "BOOM" and in a future world reach a max price of around $1,200 (if its market cap matches BTCs market cap). Again, both ADA & DOT are great cryptos to own, as they are more advanced in their capabilities as opposed to merely great storages of wealth and/or hedges against inflation like Bitcoin.

Ethereum is also good, but its price certainly poses a barrier to entry for most (I bought a sizable position not too long ago), unless you buy fractional amounts. Even then, if pegged to the price of BTC, its maximum possible price would be more like $10,000. Again, not bad, but depending on when you enter the game, your gains might not be astronomical or life changing.

Also, there is no telling how far inflation (or even hyperinflation) can go given the recent antics of the Federal Reserve and other foreign nation central banks. We could slowly walk into a new paradigm shift where world money circulation quadruples in size, which would in turn drastically raise the price of all cryptos.

Recently, I posed a question with regards to what new cryptocurrencies could possibly be the next Bitcoin. It's hard to speculate, as the total market cap for the cypto market is literally just a little over $2 Trillion and half of that is owned by Bitcoin. But in tomorrow's world, where central banks possibly disappear due to greed, corruption and induced hyperinflation, there could be a viable argument to suggest that the "people" might have to take the concept of money into their own hands (or digital wallets). But if any of you have a crazy notion about what crypto could become the next Bitcoin, share that with us. I'd like to analyze the fuck out of it and begin a discussion towards finding that unicorn.

"1"

Humble Narcissist

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5744 on: April 11, 2021, 09:25:05 AM »
Moving an asset that is increasing in value, into one that is decreasing in value, is not typically a smart idea when the prime function of the asset is to preserve wealth...

Having said that, I think its quite OK to own and hodl a little gold. I would not rule gold out entirely. BTC will slowly but surely consume gold's market cap, but a point may well come, when those in BTC may look for an analogue alternative and might actually buy a little gold for the first time. Combine that with social media and a bitcoin payment network and you have the makings of a gold boom at some time in the future...
Moving an asset that is increasing in value is smart when the asset is Unicorn farts.

Griffith

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5745 on: April 11, 2021, 09:50:04 AM »
These are some cryptocurrencies I am considering:

Enjin Coin (ENJ)

Enjin Coin (ENJ) is an Ethereum token that aims to “make it easy for individuals, businesses, and brands to use non-fungible tokens (NFTs).” ENJ is used to directly back the value of NFTs minted within the Enjin ecosystem.

Theta (THETA)

Theta (THETA) is a blockchain powered network purpose-built for video streaming. Launched in March 2019, the Theta mainnet operates as a decentralized network in which users share bandwidth and computing resources on a peer-to-peer (P2P) basis.

Elrond (EGLD)

Elrond is a blockchain protocol that seeks to offer extremely fast transaction speeds by using sharding. The project describes itself as a technology ecosystem for the new internet, which includes fintech, decentralized finance and the Internet of Things. Its smart contracts execution platform is reportedly capable of 15,000 transactions per second, six-second latency and a $0.001 transaction cost.

BitTorrent Token (BTT)

BitTorrent is a popular peer-to-peer (P2P) file sharing and torrent platform which has become increasingly decentralized in recent years.

Aave (AAVE)

Aave (AAVE) is an Ethereum token that powers Aave, a decentralized non-custodial money market protocol where users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow cryptocurrencies in exchange for paying a variable interest rate.

Decentaland (MANA)

Decentraland is an Ethereum-based blockchain platform where users can purchase, build and monetize virtual reality applications. Users can purchase virtual land in the platform’s world which gives them ownership and control over the environment and applications they create within their land.

OneMoreRep

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5746 on: April 11, 2021, 10:56:09 AM »
These are some cryptocurrencies I am considering:

I'd like to expand on each one if it's ok with you, but first lets talk about this one:

Enjin Coin (ENJ)

Enjin Coin (ENJ) is an Ethereum token that aims to “make it easy for individuals, businesses, and brands to use non-fungible tokens (NFTs).” ENJ is used to directly back the value of NFTs minted within the Enjin ecosystem.

I started to slowly read up on this crypto and did find it interesting. I really like the fact that Enjin Coin is the product of Enjin and that Enjin is a blockchain-based game and app developer. Just the mere fact that this coin could facilitate transactions between players within online and in-app gaming is HUGE in my opinion.

The world of online gaming has an enormous participation rate/volume. Moreover, while some can argue that the vast majority of participants are also children, we know very well that the easiest way into the pockets of a set of parents (2 parents at that) is by way of a nagging, crying or overachieving child that simply wants game tokens or exchangeable currency to use in their gaming experiencing. Putting aside the fact that adults also love to spend on online and in-app gaming, I think this holds a world of potential. What I haven't researched as of yet is what gaming platforms and/or companies have they paired with or have working contracts with. For instance, if ENJIN coin had a working relationship with EPIC games (the developers of Fortnite), then it's a no-brainer for me.

In terms of a basic analysis, here's what I found:

ENJIN coin currently has a circulating supply of: 834,313,757 (That's huge, as it's relatively scarce compared to other cryptos, which increases the likelihood that the inherent value per coin can mature to be high). Circulating supply in the double digit values (ie millions, the likes of Bitcoin) would be great, but triple digit values in the millions certainly beats numbers in the billions. Also, just as an added note, I am familiar with the fact that the calculations below might be a little skewed as the actual MAX total circulating supply that ENJ can have is in reality 1,000,000,000 (still not far from that 834 million we will be working with).

If we compared (ie peg) the circulating supply of ENJ (834,313,757) to that of Bitcoin's (18,679,875), it's conceivable to see that for ENJ to be as valuable as BTC, it's market cap would have to increase to the tune of 45x. Thus, ENJ's future market cap in order to achieve BTC levels would have to become: $120,204,741,285. A market cap in the billions (as aforementioned) is very reasonable to obtain, given that ETH for instance already has a market cap of $248,467,152,508 (which is more than double).

Now, if we wanted to go crazy and assume ENJ reaching values of BTC in terms of actual price as related to current market cap, it's also feasible. When comparing market cap to market cap, ENJ price can grow up to 420x and land a price of $1,356 per coin (which is pretty awesome considering it's current price) if obtaining a similar market cap of $1 Trillion +.

Again, maybe not the kind of crazy $60K+ returns that Bitcoin offers today, but if you take a small position, say $1,000, if/when the actual price reaches over $1.3K as I mentioned previously, you could be looking at around half a million USD in profits during a long hold.

The other thing I am not even trying to calculate into this broad equation is that if and when the actual crypto space market cap increases and we no longer dabble with just slightly over $2 Trillion of available money invested into BTC and all other coins, then the script can be flipped and most predictions would be off.

Let me know your thoughts and cross-analysis. I haven't bothered to perform an actual technical analysis on ENJ, but on face value and research alone, it does seem attractive.

"1"

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5747 on: April 11, 2021, 05:58:53 PM »
I'd like to expand on each one if it's ok with you, but first lets talk about this one:

I started to slowly read up on this crypto and did find it interesting. I really like the fact that Enjin Coin is the product of Enjin and that Enjin is a blockchain-based game and app developer. Just the mere fact that this coin could facilitate transactions between players within online and in-app gaming is HUGE in my opinion.

The world of online gaming has an enormous participation rate/volume. Moreover, while some can argue that the vast majority of participants are also children, we know very well that the easiest way into the pockets of a set of parents (2 parents at that) is by way of a nagging, crying or overachieving child that simply wants game tokens or exchangeable currency to use in their gaming experiencing. Putting aside the fact that adults also love to spend on online and in-app gaming, I think this holds a world of potential. What I haven't researched as of yet is what gaming platforms and/or companies have they paired with or have working contracts with. For instance, if ENJIN coin had a working relationship with EPIC games (the developers of Fortnite), then it's a no-brainer for me.

In terms of a basic analysis, here's what I found:

ENJIN coin currently has a circulating supply of: 834,313,757 (That's huge, as it's relatively scarce compared to other cryptos, which increases the likelihood that the inherent value per coin can mature to be high). Circulating supply in the double digit values (ie millions, the likes of Bitcoin) would be great, but triple digit values in the millions certainly beats numbers in the billions. Also, just as an added note, I am familiar with the fact that the calculations below might be a little skewed as the actual MAX total circulating supply that ENJ can have is in reality 1,000,000,000 (still not far from that 834 million we will be working with).

If we compared (ie peg) the circulating supply of ENJ (834,313,757) to that of Bitcoin's (18,679,875), it's conceivable to see that for ENJ to be as valuable as BTC, it's market cap would have to increase to the tune of 45x. Thus, ENJ's future market cap in order to achieve BTC levels would have to become: $120,204,741,285. A market cap in the billions (as aforementioned) is very reasonable to obtain, given that ETH for instance already has a market cap of $248,467,152,508 (which is more than double).

Now, if we wanted to go crazy and assume ENJ reaching values of BTC in terms of actual price as related to current market cap, it's also feasible. When comparing market cap to market cap, ENJ price can grow up to 420x and land a price of $1,356 per coin (which is pretty awesome considering it's current price) if obtaining a similar market cap of $1 Trillion +.

Again, maybe not the kind of crazy $60K+ returns that Bitcoin offers today, but if you take a small position, say $1,000, if/when the actual price reaches over $1.3K as I mentioned previously, you could be looking at around half a million USD in profits during a long hold.

The other thing I am not even trying to calculate into this broad equation is that if and when the actual crypto space market cap increases and we no longer dabble with just slightly over $2 Trillion of available money invested into BTC and all other coins, then the script can be flipped and most predictions would be off.

Let me know your thoughts and cross-analysis. I haven't bothered to perform an actual technical analysis on ENJ, but on face value and research alone, it does seem attractive.

"1"

I will just make a general comment. The vast majority of "alts" are outright scams. We seen more than 10,000 alts give it a shot, and very very few have gained any longer term trading traction. And even then, for those that last a little longer before disappearing, you need to figure out what their intended purpose is beyond simply being a purely speculative asset. An even smaller % that actually are truly potentially useful, are successfully adopted long term for any practical use. We all want to be chasing the rainbow for that pot of gold, but the reality is that the gold (in terms of pristine store of value) already exists - which is Bitcoin.

Now don't get me wrong, that is not to say that in the short term, an alt could pump incredibly hard. They can.

Most serious longer term and fulltime crypto investors I know started with (or still have a 70/20/10 approach). Ie BTC 70%, Eth 20%, alts 10%. A number of then take that 10% for alts and put it into and out of various alts quite rapidly, using leverage, and then store any gains they make in BTC until the next move. Remember its all good jumping around like this when the market is buoyant. On any correction the alts will get devastated, which is why some of the "grey-hair" traders that started in the 2015-2008 period stay away from alts altogether. 

The only other reliable way to make money on ats is to be very very close to the top of the food chain. There is quite a good launching structure now, with founders then selling to market pumpers who in turn have connects to crypto social media influencers, who then eventually flow down to retail investors. So, if you are connected anywhere above the retail investor in the chain there is money to be made. Sometimes huge. So for example I have friends who get an "in" at 250K, and then sell out at 1m (in some cases way way to early). On one such cases a friend put in 200K only for the alt pump to peak at 40x. I have been invited to participate in these schemes but have always declined, as exciting as they sound its not for me.

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5748 on: April 11, 2021, 06:06:25 PM »
I will just make a general comment. The vast majority of "alts" are outright scams.

I can see that. To that point, I think the most serious altcoin is Cardano. Created by one of the founders of Ethereum and with some serious plans for scaling.

The others are very risky and highly speculative. Anyone's guess as to which one will truly survive.

Also, for you it's different. If you already hold 50 actual Bitcoins or so, it's no longer a quick profit game for you via day trading, instead it's a long game with HODL'ing all the way.

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #5749 on: April 11, 2021, 06:23:31 PM »
I can see that. To that point, I think the most serious altcoin is Cardano. Created by one of the founders of Ethereum and with some serious plans for scaling.

The others are very risky and highly speculative. Anyone's guess as to which one will truly survive.

Also, for you it's different. If you already hold 50 actual Bitcoins or so, it's no longer a quick profit game for you via day trading, instead it's a long game with HODL'ing all the way.

"1"

Yes, agree. But I would add its never too late to HODL. If you have clients asking about crypto investing, I would be very very careful advising on any alt. Remember you main aim should be to preserve wealth, and generate the most likely return in proportion to minimum risk.