Cryptocurrency mega-thread

[BACCS]

 

[Chris25]

I'll ask you this question, would you feel more comfortable holding your money in a bank or in the crypto space over the next 10-20 years?

I still view crypto as a form of gambling. And a lot would have to change before I view it any differently. So the money I have invested is what I can afford to lose.

 

[maryjames]

I still view crypto as a form of gambling. And a lot would have to change before I view it any differently. So the money I have invested is what I can afford to lose.

Lol. Say that to someone who bought bitcoin 4 to 10 years ago and held.

I call it investment. With educated gambling on the side.

That’s the smart play.

But 85% of people gamble. That’s true. But smart players find a way to win big.

And don’t understand when the bull market is coming.

I’ve seen coins 100x.

Risk reward in knowing the market.

 

[maryjames]

Absolutely, and in relative terms anyone getting in now is still early for a lot of these projects. Obviously not first, but still earlier than anyone that FOMOs into it within the next 5-10 years, which will only continue to go up.

Find it odd that people buy when pumping but don’t buy when 50% to 60% off.

Crazy humans.

 

[Chris25]

Lol. Say that to someone who bought bitcoin 4 to 10 years ago and held.

I like how it always come down to this. Yeah but, look how cheap it was 10 years ago!!!

I have money in crypto and I intend to invest again at some point within the next 12 months. I’m just offering up another viewpoint. Because this thread is mostly just a circle jerk with the odd chart here and there.

It’s not a sure thing. No matter what newly interested people might think reading this thread.

 

[The Dice Man]

Find it odd that people buy when pumping but don’t buy when 50% to 60% off.

Crazy humans.

I've been buying all week, double what I initially intended to buy but now I have to hold back as I think prices are going to get lower and lower. I'll pick up more slowly as we go along.

 

[BACCS]

I've been buying all week, double what I initially intended to buy but now I have to hold back as I think prices are going to get lower and lower. I'll pick up more slowly as we go along.

That's the best way to go, never buy all at once, DCA into dips and then on average you should always come out on top.

 

[BACCS]

I like how it always come down to this. Yeah but, look how cheap it was 10 years ago!!!

I have money in crypto and I intend to invest again at some point within the next 12 months. I’m just offering up another viewpoint. Because this thread is mostly just a circle jerk with the odd chart here and there.

It’s not a sure thing. No matter what newly interested people might think reading this thread.

Calling it a form of gambling just shows a lack of research on your behalf. If this is a form of gambling, then so is investing into stocks and the dollar, because both can and have crashed as hard as the crypto market before and will again. It wouldn't surprise me if that happened in the short term given how inflated everything is right now due to Governments printing trillions during the pandemic. Sure, there are ways of gambling in crypto (such as longing or shorting, but this can be done in stocks/currencies too), but if you're just holding for the long term then it is no different to any other investment.

 

[faible]

then it is no different to any other investment.

Well this isn't true.

Stocks are fundamentally underpinned by real businesses, with real products or services, and real balance sheets.

Crypto isn't.

BMW has 'value' because of what it produces and sells.

What 'value' does DOGE have beyond people speculating buying and selling based off Elon Musk tweets?

 

[BACCS]

Find it odd that people buy when pumping but don’t buy when 50% to 60% off.

Crazy humans.

Yep, plenty of people were happy to invest into BTC at above 50k, but are then too scared at 30k? Corrections in any market are essential. The last peak we just had largely came down to an increase in institutions investing into crypto (e.g. Elon late last year), it wasn't really driven by retail at all. That's why I struggle to believe this bull run is over, the FOMO from retailers is only just getting started.

 

[BACCS]

Well this isn't true.

Stocks are fundamentally underpinned by real businesses, with real products or services, and real balance sheets.

Crypto isn't.

BMW has 'value' because of what it produces and sells.

What 'value' does DOGE have beyond people speculating buying and selling based off Elon Musk tweets?

Real businesses? These businesses can also go bankrupt a lot quicker than it took people to establish it. I only partially agree with you, in that yes fundamentals are unfortunately not fully driving the industry yet, but that will happen with time.

I am guessing people that are skeptical of crypto right now are the exact same type of person that were also skeptical of the internet back in the late 90s/early 2000s and asking what fundamentals it had; at the end of the day it's just a platform for other companies to build on top of, just like Ethereum, Cardano etc. Funny you mention BMW, because they're investing into Cardano for the smart contract capability, which is the sign of a good business as it can adapt to new trends in technology. How much easier will it be when buying things like cars, real estate etc is just one digitial transaction between the buyer and seller, with none of the fees, third parties etc in between?

NBA Top Shots is a near on 1 billion dollar company now that has been built on the Ethereum platform, and there will only be more examples of companies like this in the coming years.

DOGE has no value, I said on the previous page that memecoins are a blight on the crypto space, but that fad will eventually fade out as crypto projects start seeing more and more real world uses and the fundamentals of a project drive its price.

 

[bzparkes]

Well this isn't true.

Stocks are fundamentally underpinned by real businesses, with real products or services, and real balance sheets.

Crypto isn't.

BMW has 'value' because of what it produces and sells.

What 'value' does DOGE have beyond people speculating buying and selling based off Elon Musk tweets?

And their stock price is relative to what the investors buy and sell, just like crypto.

If BMW went under tomorrow then their investors would still lose their money regardless of how many bricks and mortar buildings the company has.

 

[BACCS]

And their stock price is relative to what the investors buy and sell, just like crypto.

If BMW went under tomorrow then their investors would still lose their money regardless of how many bricks and mortar buildings the company has.

And there are plenty of examples of boards from large companies doing dodgy shit that ultimately tanks the company and screws over the average investor, no matter how large it is. Anyone that thinks large companies cannot be shorted, think again:
https://www.cnbc.com/2021/05/17/mic...-reveals-a-530-million-bet-against-tesla.html
Everyone laughed at Michael Burry when he shorted the real estate market, but he knows his stuff and was ultimately proved right

 

[faible]

Real businesses? These businesses can also go bankrupt a lot quicker than it took people to establish it. I only partially agree with you, in that yes fundamentals are unfortunately not fully driving the industry yet, but that will happen with time.

I am guessing people that are skeptical of crypto right now are the exact same type of person that were also skeptical of the internet back in the late 90s/early 2000s and asking what fundamentals it had; at the end of the day it's just a platform for other companies to build on top of, just like Ethereum, Cardano etc. Funny you mention BMW, because they're investing into Cardano for the smart contract capability, which is the sign of a good business as it can adapt to new trends in technology. How much easier will it be when buying things like cars, real estate etc is just one digitial transaction between the buyer and seller, with none of the fees, third parties etc in between?

NBA Top Shots is a near on 1 billion dollar company now that has been built on the Ethereum platform, and there will only be more examples of companies like this in the coming years.

DOGE has no value, I said on the previous page that memecoins are a blight on the crypto space, but that fad will eventually fade out as crypto projects start seeing more and more real world uses and the fundamentals of a project drive its price.

And their stock price is relative to what the investors buy and sell, just like crypto.

If BMW went under tomorrow then their investors would still lose their money regardless of how many bricks and mortar buildings the company has.

But that's the point; BMW is an actual company with actual products and actual value, it could go bankrupt, it could venture in to new areas, you can buy a portion of ownership, or the whole lot with enough cash. It's shares are valued relative to the underlying viability of the business.

Crypto is much closer to currency speculation than it is the stock market at this point in time.

The vast majority of coins have no underlying value to them, and most people are speculating that they'll go up in value in the future, because 99% of people investing in the space have no ability to understand the technology implications let alone know which ones will be used or valuable in the future.

Plenty of people will make a lot of money in crypto if they hold long term, but let's not pretend it's like the share market where there's some form of underlying company or metric to derive the value from. We're seeing DOGE as a prime example of where the market can be so easily manipulated that something with 0 inherent value has a market cap of $41 billion.

It's an emerging space, and I think all of us believe (or at least hope) that it'll continue to become increasingly accepted by the mainstream long-term, but right now you're playing in a space that's largely dominated by curriences that generate the most publicity, not those with the best products. And market cap has seemingly no relevance to the long term viability of a product.

 

[BACCS]

 

[burge13]

I like how it always come down to this. Yeah but, look how cheap it was 10 years ago!!!

Market caps and valuations mean nothing around here. These coins will be worth gazillions of trillions of $ in 10 years time... It's all "cheap now"

 

[Chris25]

Calling it a form of gambling just shows a lack of research on your behalf. If this is a form of gambling, then so is investing into stocks and the dollar,

I do view all investment as a form of gambling, some with higher risks than others. Crypto, stocks, real estate. 99% of coins are like those speculative mining stocks you mentioned earlier.

Could I do more research? Absolutely. And I would if I was to put down a large amount. I commend how much you've done to seemingly become an expert despite entering into crypto after me. I'm just a small time rookie, and a large part of that is because I see little or no apparent physical value in the majority of current coins. I would prefer to put my money into something, not just an idea. Especially when a new and better idea always seems to be around the corner.

 

[BACCS]

Market caps and valuations mean nothing around here. These coins will be worth gazillions of trillions of $ in 10 years time... It's all "cheap now"

This thread clearly triggers you, why don't you just turn alerts off and save us from your repeated posts saying the exact same thing? If you don't believe in the crypto space long term, then that's fine, but actually have fundamental reasons for it other than the crap you post. However, for something that you think is overinflated, you sure do seem threatened by it . Market caps are only relative to the current period of time you're in, you do release they aren't stagnant and do increase/decrease over time? None of the posts I have seen in this thread so far are trying to shill some obscure coin and think it will soar 100x instantly.

 

[BACCS]

I do view all investment as a form of gambling, some with higher risks than others. Crypto, stocks, real estate. 99% of coins are like those speculative mining stocks you mentioned earlier.

Could I do more research? Absolutely. And I would if I was to put down a large amount. I commend how much you've done to seemingly become an expert despite entering into crypto after me. I'm just a small time rookie, and a large part of that is because I see little or no apparent physical value in the majority of current coins. I would prefer to put my money into something, not just an idea. Especially when a new and better idea always seems to be around the corner.

Fair enough if that's your POV. I am doing a lot of research into the crypto space because I genuinely enjoy it and have absolutely no doubt that I can secure a financial future without having to work until I'm 65, I would rather be patient for 5-10 years than working for the next 30-40 years. I am in a good career now, but after going through a couple of redundancies a few years ago, I understand how quickly even a steady job can be taken away from you and almost send you bankrupt.

I have always wanted to control my own financial future, and with crypto I have finally found something that I believe can do that, while also at the same time genuinely enjoying researching and learning more about the space. It's not for everyone and I respect that.

 

[burge13]

This thread clearly triggers you, why don't you just turn alerts off and save us from your repeated posts saying the exact same thing? If you don't believe in the crypto space long term, then that's fine, but actually have fundamental reasons for it other than the crap you post. However, for something that you think is overinflated, you sure do seem threatened by it . Market caps are only relative to the current period of time you're in, you do release they aren't stagnant and do increase/decrease over time? None of the posts I have seen in this thread so far are trying to shill some obscure coin and think it will soar 100x instantly.

Not threatened by anything and that is a fundamental reason, it isn't "cheap" by any stretch of the imagination.

There are definite advantages/benefits in the crypto space and the tech will change the future, the garbage coins won't. Barely any of it needs its own currency but the underlying tech could still be used, that's where you'll get caught out.

 

[The Dice Man]

Bitcoin up 1,000 USD since one minute after that tweet.

 

[LongBombFromOutside50]

But that's the point; BMW is an actual company with actual products and actual value, it could go bankrupt, it could venture in to new areas, you can buy a portion of ownership, or the whole lot with enough cash. It's shares are valued relative to the underlying viability of the business.

Crypto is much closer to currency speculation than it is the stock market at this point in time.

The vast majority of coins have no underlying value to them, and most people are speculating that they'll go up in value in the future, because 99% of people investing in the space have no ability to understand the technology implications let alone know which ones will be used or valuable in the future.

Plenty of people will make a lot of money in crypto if they hold long term, but let's not pretend it's like the share market where there's some form of underlying company or metric to derive the value from. We're seeing DOGE as a prime example of where the market can be so easily manipulated that something with 0 inherent value has a market cap of $41 billion.

It's an emerging space, and I think all of us believe (or at least hope) that it'll continue to become increasingly accepted by the mainstream long-term, but right now you're playing in a space that's largely dominated by curriences that generate the most publicity, not those with the best products. And market cap has seemingly no relevance to the long term viability of a product.

BMW's share price represents the value of that company based on it's forecast financial performance. Ether's price as an example, represents the forecast performance of all the applications on the ethereum platform. It earns fees for everything done on the network.

What's more is that dividends paid out by BMW are based on the arbitrary decision by centralised management. This can change from one year to the next based on their sole discretion. Staking rewards on tokens, for example, are algorithmic or based on a pre-determined % of revenues that no bureaucrat can change.

I still view crypto as a form of gambling. And a lot would have to change before I view it any differently. So the money I have invested is what I can afford to lose.

There is no difference between crypto and the stock market. Both are casinos. Crypto people openly admit it, whereas boomers who control the stock market keep trying to pretend they are something else.

 

[bzparkes]

W

But that's the point; BMW is an actual company with actual products and actual value, it could go bankrupt, it could venture in to new areas, you can buy a portion of ownership, or the whole lot with enough cash. It's shares are valued relative to the underlying viability of the business.

Crypto is much closer to currency speculation than it is the stock market at this point in time.

The vast majority of coins have no underlying value to them, and most people are speculating that they'll go up in value in the future, because 99% of people investing in the space have no ability to understand the technology implications let alone know which ones will be used or valuable in the future.

Plenty of people will make a lot of money in crypto if they hold long term, but let's not pretend it's like the share market where there's some form of underlying company or metric to derive the value from. We're seeing DOGE as a prime example of where the market can be so easily manipulated that something with 0 inherent value has a market cap of $41 billion.

It's an emerging space, and I think all of us believe (or at least hope) that it'll continue to become increasingly accepted by the mainstream long-term, but right now you're playing in a space that's largely dominated by curriences that generate the most publicity, not those with the best products. And market cap has seemingly no relevance to the long term viability of a product.

Well it's pretty simple, don't invest in projects that have no real world use case, or solve a problem. Plenty do more things than just be a currency.

Meme coins are for gambling on as you can get filthy rich off them or lose your investment completely. Still far better odds striking it rich than lotto or the pokies though.

 

[Chris25]

There is no difference between crypto and the stock market. Both are casinos. Crypto people openly admit it, whereas boomers who control the stock market keep trying to pretend they are something else.

I agree there's no difference. But there's also little difference in those who invest in each. Crypto fanatics might expect greaters ups and downs than those in the stock market, but the majority aren't admitting anything other than it being a slam dunk investment.

Anyway, I've had my entertainment for the day. I'd be more interested in what coins people are watching and why, as opposed to just another bitcoin tweet.

 

[faible]

Ether's price as an example, represents the forecast performance of all the applications on the ethereum platform.

The problem is that it doesn't.

The entire crypto market is effectively a sharemarket bubble based on speculation.

That 10 different 'analysts' will come to 10 different conclusions based off the exact same set of data would tell you that most people in the space have NFI how to value them.