Agreed but there's alot more regulation on the asx
My garbage stock can't exit scam
I can't have my wallet hacked and my shares taken etc
The overall message is correct, both casinos and controlled by the top end of town whether we like it or not
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My garbage stock can't exit scam
I can't have my wallet hacked and my shares taken etc
The overall message is correct, both casinos and controlled by the top end of town whether we like it or not
md20
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Im not criticizing, im just asking as im very new to crypto (start of the year) and wanting to learn.
My understanding is that when you are 'investing', youre not investing in the project and its use case. Youre buying the coin/token for that project which have no real use or value.
So for example Ethereum is an awesome project. But when youre buying, youre not buying Ethereum or 'investing' in Ethereum. Youre buying the coin/token ether. What use does ether actually have or do?
Where as Bitcoin is a coin that actually has a use case (transactions etc.), as well as being used as a store of value due to its limited supply.
So the way i see it is, if youre a trader and want to try your chance at big short term gains (at the high risk of big short term losses) then go ahead and buy these alt coins where youre basically trying to time the market through pump & dumps and manipulations from whales etc.
But if youre in it for long term, DCA all the money you can afford to lose into Bitcoin and hold for years (5 minimum).
Im aware i may have this all completely wrong and look like an idiot.
Well to be honest anyone who claims to be able to predict the future from a chart is full of sh*t. What the best analysts do (guys like Bob Loukas, Peter Brandt, Benjamin Cowen, many others), is not to try and predict the future from a chart but rather look at all possibilities and be prepared for each one.
All commodities and industries go through boom and bust cycles. Take a look at the historical chart of gold, iron ore, any other commodity price, you'll see there have been bubbles and crashes since the beginning of time. Crypto, being a very new and smaller cap asset class compared to gold, for example, will be far more volatile and have much greater swings both to the upside and downside.
And all asset class valuations are based on speculation. Stock prices are based on forecast future earnings of that company. Take a company in the tech space, snapchat for example, it had a valuation in the billions of dollars for years before even generating a dollar of revenue based on forecast adoption. Very common for tech.
Haha it’s the best performing asset in the world for the last decade. Regularly dominates the volume and just made legal tender in a sovereign state.
no disrespect to Ethereum, I was too scared not to have it because it’s use cases and network effect are undeniable. It’s pretty much a stock though. It’s out there and functional with NFTs and tether platforms so Ether will be worth owning for the foreseeable future.
It’s not revolutionising money though. Maybe business? It pretty much exists as a security so the founders can get rich. I mean it’s cool that they’re doing that instead of the stock market but as a CURRENCY it’s no different than any other gov issued currency. Big dogs write the rules.
It does have competition for its functionality which makes it significantly more vulnerable. Sounds like Vitalik’s got his own mini cult.
the analogies that Eth is oil and BTC is gold are sound. Eth is making s**t happen but ultimately controlled by rich people and aims to serve their benefit. True capitalism.
All BTC does is securely store and transact money. It just so happens to do it better than any money or bank ever has. It’s more secure, more decentralised and more scarce. It nails what it does and the smart money keeps acquiring it from silly billies that are in for a quick buck and don’t realise that their just exiting for casino chips.
I hope my Eth holding get me rich, but that wealth in the future will probably best be stored in BTC or an index
Sheesh we wrote similar posts simultaneously
Anyone that is creating apps on the Ethereum platform will need to use the ETH token. The more apps that decide to use the Ethereum platform, the higher the interest in Ethereum and its native token. Yes the ETH token is not investing in Ethereum the company, but they're very closely aligned. If Ethereum the company is doing well and has more apps wanting to build on it, then so will its token. It is not currently a capped supply, but that's what the upgrades are fixing over the next 1-2 years.
Absolutely, I don't think Ethereum is trying to be Bitcoin and has a very different purpose. ETH is a currency for those working on the Ethereum platform, I don't see it ever being a currency used for everyday transactions.
BTC has cracked 34k again, can it hold?
owen87
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Hope not. I'll get less rich buying in at 34k than if it drops to 20k....
I do suspect there will be strong resistance at 35k and there might be a dip down to the low 30s briefly again, but I struggle to see it getting below 30k. That's proving to be a very strong support point where a lot of buy order must be placed, as it rebounds sharply whenever it gets near that mark.
owen87
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Honestly if it could drop back to $1 for a week or so to allow me to harvest a few thousand BTC that would be nice.
But it seems the market might have changed since the last peak in 2017, it's a lot more widely accepted and reported, with a lot more people involved.
Your crypto wallet can't get hacked either, unless you do something obviously stupid.
Shupe
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The bolded. Very important point.
cryptor
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100%. Pattern I've noticed with all these "technical analysts" on Youtube and Twitter making shorter term predictions is that they'll draw lines and throw a hundred predictions out every couple days about various percentage gains and when they'll take off.
If they end up being "right" they just point back to one of the instances where what they said aligned with what ended up happening. But if they're wrong they'll just claim it was market manipulation (usually from Elon Musk, China, or "the whales"). Rinse and repeat. Broken clocks and all that.
ETH s used for transactions on the Ethereum network. You can also stake them for decent interest/rewards and whilst it's volatile like any other crypto, it'll continue to grow over time.
When I talk about use case I don't necessarily mean the token itself but rather the project. A lot of native tokens are also used for governance, so you can use them to vote/approve the projects the devs put forward and your vote is weighted by what you hold. Also, native tokens on larger projects are usually able to be staked.
Essentially, tokens generally are created by use-case projects, either as a form of governance, for them to give to the team/pre-existing investors as payment, marketing wallets, etc. You'll want to check how big certain wallets are on projects, as well as their vesting schedule, as part of your research to ensure it's not a PnD scam. Essentially, a native token is your 'share' of a project and and ultimately determines how much you can make, or lose, depending how successful said project is.
It's actually better to stop thinking of crypto as currency as apart from some like BTC, XRP, Doge, Monero and a few others, most are really like shares and not an actual currency.
Hope this clears a few things up for you.
Exchanges get hacked you lose it
Selfwealth, NABTrade etc get hacked and youre covered
Is the point i was trying to make re regulation being good in some instances but yeah unlikely your wallet is in danger
Yeah, that's why I keep most of my stuff in a private wallet. Haven't really got enough to justify a cold wallet currently though.
Seen enough idiots in telegrams claim to be hacked because they gave away their seed phrase... I mean, they got far enough to get TrustWallet/metamask and buy on a Defi exchange but not smart enough to not give out their seed phrase.
Explain?
thedreadpirateroberts
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the majority yes. however after following crypto twitter for awhile there are a few analysts who are usually on the money.
Does it really need explanation?
Theyre overvalued at current prices relative to revenue or use case but speculation drives it it higher. Thats fine but eventually the music stops
Some of these coins with no use case are worth as much as giant companies like santos, afterpay etc. These simply can not be referred to as "cheap". That shows a very limited understanding of investing
Speculate, have fun, find gems, theres plenty of money to be made. Im not doubting that. Calling several tens of billion market caps "cheap" is flat out ridiculous
Music never stops.
There are some crazy bullish knock on effects to this El Salvador news that btc will be legal tender. Here’s some:
1. their gov treasury will be loading up on Btc
2. their citizens will be accumulating wallets and btc en masse
3. A monster amount of remittances get sent there every year. Doing so in BTC will show how useful the technology is and will save millions of dollars
4. Obviously being crypto friendly will attract foreign investment
and then there’s other questions that spawn
1. How long can other countries continue to define it as an asset if it is officially a foreign currency. Massive tax revenue danger
2. Will El Sal’s accumulation spawn a hugely increased demand for btc for other countries. Supply demand balance could make the price skyrocket
3. further down the track, will we see positive effects from having a hard money economy. I’m a big believer in building an economy around a sound monetary system. Can’t wait to see how it looks
4. there’s already plenty of talk that Latin America will spring a wave of rebellious economies that get on board with BTC, sick of being the ‘have not’s and being adversely affected in their own economies by US dumb economic policy
1. their gov treasury will be loading up on Btc
2. their citizens will be accumulating wallets and btc en masse
3. A monster amount of remittances get sent there every year. Doing so in BTC will show how useful the technology is and will save millions of dollars
4. Obviously being crypto friendly will attract foreign investment
and then there’s other questions that spawn
1. How long can other countries continue to define it as an asset if it is officially a foreign currency. Massive tax revenue danger
2. Will El Sal’s accumulation spawn a hugely increased demand for btc for other countries. Supply demand balance could make the price skyrocket
3. further down the track, will we see positive effects from having a hard money economy. I’m a big believer in building an economy around a sound monetary system. Can’t wait to see how it looks
4. there’s already plenty of talk that Latin America will spring a wave of rebellious economies that get on board with BTC, sick of being the ‘have not’s and being adversely affected in their own economies by US dumb economic policy
Just thought of another one. Seeing as all El Sal businesses must accept btc as legal tender there, big ass corporations that haven’t already will acquire wallets and start accumulating.
hilariously meaning that Tesla must accept it
assuming they exist there. Maybe they don’t
Bitcoin through 35k
