Cryptocurrency mega-thread

[PoppedCorn]

Won't be long it'll pass silver in market cap
It'll then gobble up the Amazon's Google's and apples and start chewing at gold.

 

[Simple Jack]

Crypto has never ceased to puzzle me.

What is behind this bubble?

Then I read about the amount of money in circulation.

US:

View attachment 1102448

Apparently the world's money supply doubled in the last year or so?

If that's the case... is that the source of this crypto bubble? Cash just sloshing around looking for places to sit?

It's worth considering.

That chart doesn't really tell the full story. This is the one to look at - M1 money supply:

Given that basically the value of everything is denominated in USD, all asset classes are enormously inflated. Property, stocks, precious metals and of course, crypto are all either at or were recently at all time highs.

Cryptos institutional value (which is what supports the base price of almost anything - not retail traders from Reddit playing around with a couple of hundred bucks here and there) comes largely from 2 use cases:
1. Hedge against inflation (digital gold) - e.g. BTC, buy and hold
2. Instantaneous, low fee and 24/7 way of moving cash around internationally - e.g. Tether. (Obviously this doesn't do anything to the price of Tether, but it impacts liquidity and legitimacy)

There's speculation too of course, which along with the retail trading drives these bubbles like now. But reasons 1 and 2 are why you may see the price crash $15k but you're unlikely to see it to go back to being worthless any time soon.

For those planning to be super long term holders. You may want to Google Shor's algorithm.

 

[ash_1050]

XRP nudging $2.50AUD. Seems like it still has plenty in it as well, particularly given the court case hasn't even been settled yet and it still hasn't been relisted on many of the exchanges which removed it.

Why has XRP gone up? Like, an actual tangible reason, rather than "the court case is going well" or speculation. It's gone from US$0.57 to a peak of US$1.92 over the last two weeks on the back no news, unless I missed something big.

 

[Chief]

you're unlikely to see it to go back to being worthless any time soon.

It seems like it will always be a way for criminals to move large amounts of money.

 

[Pugz89]

Why has XRP gone up? Like, an actual tangible reason, rather than "the court case is going well" or speculation. It's gone from US$0.57 to a peak of US$1.92 over the last two weeks on the back no news, unless I missed something big.

I know there have been a few agreements signed by Ripple in recent weeks/months. Could just be a perfect storm.

 

[Drakescoffeecake]

Doge is gonna hit .20 ....

 

[Ghost Patrol]

LTC UNI Doge is now #8

 

[maryjames]

Well its been 2 months, and I still have no idea what crypto is. And it gets more confusing every day.

Yet my portfolio of BTC, ETH and RFOX has grown by 25%.

Play this for 10 years and you be a multi millionaire. As long as you are patient and understand the circles of crypto. If invested 11k into dogecoin 12 months ago you have 1 million dollars now.

 

[maryjames]

Next little crash is going to be to be interesting.

Everyone is making way to money on there portfolios right now.

 

[maryjames]

It seems like it will always be a way for criminals to move large amounts of money.

Eh?

Do You know how Miami was built?

 

[Ghost Patrol]

It seems like it will always be a way for criminals to move large amounts of money.

Thats why the hedge funds and banks have started buying it

 

[Ghost Patrol]

Wolf of Wall street

 

[Zim^zuM]

Crypto noob here. To the point i forgot I had money in there. In short basically lost 90% of what I put in (wasn't much) then got some XRP and litecoin and forgot about it. Checked today I'm back to square 1 and got it all back.

Not too fussed about the cash. Do I withdraw now or just let it sit there, no doubt forget and have a peek in 12 months?

 

[Ghost Patrol]

Crypto noob here. To the point i forgot I had money in there. In short basically lost 90% of what I put in (wasn't much) then got some XRP and litecoin and forgot about it. Checked today I'm back to square 1 and got it all back.

Not too fussed about the cash. Do I withdraw now or just let it sit there, no doubt forget and have a peek in 12 months?

I'd hold onto it, should be good gains next couple weeks.

 

[maryjames]

Lol while everyone was sleeping people were buying this time last year.

 

[Ghost Patrol]

Holy shit doge hit 25c US

 

[Chief]

Thats why the hedge funds and banks have started buying it

All sorts of funds started buying NINJA loans too.

 

[cotter101]

Holy sh*t doge hit 25c US

Crazy.

 

[faible]

I've got a small parcel of DOGE I've been wanting to get rid of for a while, how high do I wait for it to go before trading back in to BTC is the question...

 

[Ghost Patrol]

I've got a small parcel of DOGE I've been wanting to get rid of for a while, how high do I wait for it to go before trading back in to BTC is the question...

Hodl till $1 then sell 10%

 

[faible]

Hodl till $1 then sell 10%

$1 AUD or USD? I've got a long way to go before it hits either and it's already at an ATH I'm fairly sure...

 

[Drakescoffeecake]

Hodl till $1 then sell 10%

No.

 

[Ghost Patrol]

Doge has outperformed both BTC and ETC over 1hr, 1 day, 1 week, 1 month, 1 year.

Looks like it's about to pump again. Might break through 25c this time.

If you worried about losing the cash, set a stop loss trade.

 

[faible]

Doge has outperformed both BTC and ETC over 1hr, 1 day, 1 week, 1 month, 1 year.

Looks like it's about to pump again. Might break through 25c this time.

If you worried about losing the cash, set a stop loss trade.

And as we speak it's above 28c USD

 

[Drakescoffeecake]

Holy shit