Cryptocurrency mega-thread

[BACCS]

Kids buying crypto =/= mass adoption. Mass adoption is where crypto is commonly used and accepted in society, which hasn't happened. I've got no objections to mass adoption, and don't see it as a bad thing at all. Bitcoin hasn't gone mainstream, mainstream is where it's crossed the chasm and made it to mass adoption. If you think 2021 is the year of mass adoption, by definition when it has achieved widespread use, then crypto is doomed.

I never said crypto had been mass adopted yet, I'm just saying that it is gaining good momentum. I personally think we are still at least a decade away from crypto being fully mainstream. School kids do actually mature (well some of them), and these are the people who will help it push into the mainstream category in a decade.

 

[thedreadpirateroberts]

25k profit is more than anyone in here is making even if a modest amount and less than many crypto investors. Its also 4 years earlier than people who genuinely think theyre getting in early, another dumb take.

Making that also doesnt say youre no good

Are your parents related? This is a really dumb reply when broken down.

haha this is one of the funnier things ive read. we should be so lucky to be in the presence of greatness. 2017 and only got out with 25k profit? ****ing lol

 

[BobbyMorri]

I never said crypto had been mass adopted yet, I'm just saying that it is gaining good momentum. I personally think we are still at least a decade away from crypto being fully mainstream. School kids do actually mature (well some of them), and these are the people who will help it push into the mainstream category in a decade.

How can anyone have any confidence in a currency which raises/drops 10-20% in a day, all because of a tweet or 2. An investment and actual currencies are 2 completely different things. Sure, as an investment, you can ride the bumps and raises. But people are risk-averse. They want certainty on things. They want to budget that their currency is worth $x amount of y things. Perhaps in the future, this issue solves itself. But then we get into another one.

A currency is just the means of trading items. That's it. Full stop. If that item is deflationary, then what incentive is there to use it. I mean, why spend money if that money is worth more tomorrow. Perhaps it can be just a 3rd party unit. A universal trading community like gold was. But wouldn't that just add increased complexity and cost. What incentive do I have, outside hiding stuff, for me to add another stage to the transaction? I am still going to have to translate my Fiat to another thing. And that other thing still has a cost attached to it. Perhaps even more, if the value of what I am trading into, will be worth more in the future. After all, isn't all about HODL. For these currencies to be functional, it sort of needs to stop being crypto. etc, stop going nuts and stop being seen as an investment. But would they still be popular if they did that......questions, questions, questions, which we can only guess what the answers are.

I find the whole thing fascinating and the people here at least have sense, unlike the nutjobs on Twitter or Reddit. But basically, you are trying to predict, with your graphs and the like, human emotions on a vast network/market of people on things that have no inherent value outside what other people value it. It is completely open and nuts. Economics is basically a study of people on a macro level. This is economics on crack and I wish it was around when I was at uni, studying all this. It is an interesting time full of questions.

Ps. sorry, was meant to be a small post. Just so fascinating

 

[BACCS]

How can anyone have any confidence in a currency which raises/drops 10-20% in a day, all because of a tweet or 2. An investment and actual currencies are 2 completely different things. Sure, as an investment, you can ride the bumps and raises. But people are risk-averse. They want certainty on things. They want to budget that their currency is worth $x amount of y things. Perhaps in the future, this issue solves itself. But then we get into another one.

A currency is just the means of trading items. That's it. Full stop. If that item is deflationary, then what incentive is there to use it. I mean, why spend money if that money is worth more tomorrow. Perhaps it can be just a 3rd party unit. A universal trading community like gold was. But wouldn't that just add increased complexity and cost. What incentive do I have, outside hiding stuff, for me to add another stage to the transaction? I am still going to have to translate my Fiat to another thing. And that other thing still has a cost attached to it. Perhaps even more, if the value of what I am trading into, will be worth more in the future. After all, isn't all about HODL. For these currencies to be functional, it sort of needs to stop being crypto. etc, stop going nuts and stop being seen as an investment. But would they still be popular if they did that......questions, questions, questions, which we can only guess what the answers are.

I find the whole thing fascinating and the people here at least have sense, unlike the nutjobs on Twitter or Reddit. But basically, you are trying to predict, with your graphs and the like, human emotions on a vast network/market of people on things that have no inherent value outside what other people value it. It is completely open and nuts. Economics is basically a study of people on a macro level. This is economics on crack and I wish it was around when I was at uni, studying all this. It is an interesting time full of questions.

Ps. sorry, was meant to be a small post. Just so fascinating

A lot of good points in there, no need to apologise. It’s why I’m so fascinated by it too, as a concept it really challenges the previously normal way of thinking.

 

[Ghost Patrol]

How can anyone have any confidence in a currency which raises/drops 10-20% in a day, all because of a tweet or 2. An investment and actual currencies are 2 completely different things. Sure, as an investment, you can ride the bumps and raises. But people are risk-averse. They want certainty on things. They want to budget that their currency is worth $x amount of y things. Perhaps in the future, this issue solves itself. But then we get into another one.

A currency is just the means of trading items. That's it. Full stop. If that item is deflationary, then what incentive is there to use it. I mean, why spend money if that money is worth more tomorrow. Perhaps it can be just a 3rd party unit. A universal trading community like gold was. But wouldn't that just add increased complexity and cost. What incentive do I have, outside hiding stuff, for me to add another stage to the transaction? I am still going to have to translate my Fiat to another thing. And that other thing still has a cost attached to it. Perhaps even more, if the value of what I am trading into, will be worth more in the future. After all, isn't all about HODL. For these currencies to be functional, it sort of needs to stop being crypto. etc, stop going nuts and stop being seen as an investment. But would they still be popular if they did that......questions, questions, questions, which we can only guess what the answers are.

I find the whole thing fascinating and the people here at least have sense, unlike the nutjobs on Twitter or Reddit. But basically, you are trying to predict, with your graphs and the like, human emotions on a vast network/market of people on things that have no inherent value outside what other people value it. It is completely open and nuts. Economics is basically a study of people on a macro level. This is economics on crack and I wish it was around when I was at uni, studying all this. It is an interesting time full of questions.

Ps. sorry, was meant to be a small post. Just so fascinating

Less risk than gambling, higher potential upside over stocks etc.

Money sitting in the bank is doing nothing with low interest rates.

 

[BobbyMorri]

Less risk than gambling, higher potential upside over stocks etc.

Money sitting in the bank is doing nothing with low interest rates.

risk and return are linked. The greater one is, the greater the other will normally be.

The money sitting in my bank is, at least, not losing money*

*well, it is due to inflation, but the numbers go up and people are stupid.

 

[Kram]

Less risk than gambling, higher potential upside over stocks etc.

Money sitting in the bank is doing nothing with low interest rates.

Famous last words

 

[Ghost Patrol]

Famous last words

You can limit losses by setting stop loss orders. Haven't lost a cent. Profit is down, but original investment is safe.

All of you hindsight heroes should do a little research.

 

[Ron]

 

[Ghost Patrol]

Kram did Sky news mention crypto again?

 

[Kram]

Funny that. I started investing part of my jobseeker payments in January. I'm still over 10k up, during this dip.

Can you please use your special vision powers and tell me how to play more appropriately?

Watch out boys, we've got a heavy hitter here!

 

[Ghost Patrol]

Watch out boys, we've got a heavy hitter here!

Says the guy that drops in every week to blow bubbles.

 

[Ghost Patrol]

 

[The Dice Man]

After 3 days of struggling to set up an account I'm finally able to get in and buy some worthless shit. Where to start?

 

[Bostonian]

After 3 days of struggling to set up an account I'm finally able to get in and buy some worthless sh*t. Where to start?

How much to spend? how long do you want to hold it? is it for the long term or a quick buck?

 

[Bostonian]

 

[Ron]

After 3 days of struggling to set up an account I'm finally able to get in and buy some worthless sh*t. Where to start?

Avoid any shit coins right now, they are looking like a deer in the headlights. This smashing will be the end of many of them.

To be honest, ETH is probably the best bet for long term gain. I could see it going up 5x it's current amount in the next few years.
Matic and ADA are a couple that i would expect to rebound and look strong over the next couple of years.
This is all speculation though, as right now no one really knows where the bottom of this drop is.

 

[The Dice Man]

How much to spend? how long do you want to hold it? is it for the long term or a quick buck?

It seems my bank only allows up to 1,000 euros per purchase, so I will start with that and more looking for the long term, not expecting a quick buck at all.

 

[The Dice Man]

Also curious on the tax systems in place. In France it appears you are only taxed when you purchase something with Crypto(VAT), or when you cash-out into a Fiat currency, while Crypto-Crypto trades are not taxed. It used to be different.

 

[ash_1050]

Also curious on the tax systems in place. In France it appears you are only taxed when you purchase something with Crypto(VAT), or when you cash-out into a Fiat currency, while Crypto-Crypto trades are not taxed. It used to be different.

Different countries have different laws around crypto. Have a look online for French crypto laws or have a chat with your accountant, as no one here would be able to give you sound information.

In terms of what coin I have NFI, however a friend who's not into crypto spent the last month or so researching coins and announced on Thursday that he's bought some Filecoin. Make of that what you will, but on that basis that would be my tip.

 

[Bostonian]

It seems my bank only allows up to 1,000 euros per purchase, so I will start with that and more looking for the long term, not expecting a quick buck at all.

Just looking at coins that with their present prices seem like good buys I think LINK, ADA and THETA and are 3 decent long term with a nice discount price on them at present.

 

[Bostonian]

The Dice Man i'd wait until Sunday before buying anything as Sunday is when the markets are shut and you normally get a bit more of a down turn in prices anyway.

And as soon as you buy your coins they will start in the red and possibly even go backwards a few % points immediately.

Knowing that helps prevent a WTF moment for someone just buying for the first time.

 

[The Dice Man]

The Dice Man i'd wait until Sunday before buying anything as Sunday is when the markets are shut and you normally get a bit more of a down turn in prices anyway.

And as soon as you buy your coins they will start in the red and possibly even go backwards a few % points immediately.

Knowing that helps prevent a WTF moment for someone just buying for the first time.

Cheers. I will till tomorrow then.

 

[Bostonian]

Cheers. I will till tomorrow then.

Watch this first.

The Only Technical Analysis Video You Will Ever Need... (Full Course: Beginner To Advanced) - YouTube

So that you don't buy on the peaks. A lot to take in but it lessens the chance of buying in at the highest points.

 

[Quixote]

Just looking at coins that with their present prices seem like good buys I think LINK, ADA and THETA and are 3 decent long term with a nice discount price on them at present.

THETA and ADA are 100% shitcoins.