Cryptocurrency mega-thread

[Ghost Patrol]

Bloody hell, DOGE is trending on Twitter again...

Reason is, it's about to be listed for trading on coinbase, Thursday USA time.

 

[BACCS]

Reason is, it's about to be listed for trading on coinbase, Thursday USA time.

Yeah I saw that mentioned, yet some actual projects like VeChain can't make it on there yet? I would love to know their process for listing cryptos

 

[BACCS]

I heard a great take on the bull vs bear market argument today...
If you're a short term trader, then yes we are in a bear market right now
If you're a long term hodler, it's always a bull cycle

Anyone that holds a crypto asset for at least 4 years makes money (talking genuine projects here, not memecoins), regardless of the fluctuations in between.

 

[Ghost Patrol]

Yeah I saw that mentioned, yet some actual projects like VeChain can't make it on there yet? I would love to know their process for listing cryptos

Plenty not listed on there, but I think doge is the biggest by market cap that isn't. You would think it's more worthwhile from a $$$ trading fee perspective.

It has use cases now - spaceX accepts it lol

 

[BEaston]

Anyone that holds a crypto asset for at least 4 years makes money (talking genuine projects here, not memecoins), regardless of the fluctuations in between.

Don't think so.
Genuine projects can be counted on one hand. Even then, everyone's definition of a genuine project is different.

There are heaps of coins that were considered "genuine projects" 4 years ago that are worthless today so your statement is not even remotely true.

 

[BACCS]

Don't think so.
Genuine projects can be counted on one hand. Even then, everyone's definition of a genuine project is different.

There are heaps of coins that were considered "genuine projects" 4 years ago that are worthless today so your statement is not even remotely true.

Ok cool

 

[thedreadpirateroberts]

This is a good thread about the 3:
https://www.google.com.au/amp/s/amp...gn7j/polygon_matic_vs_cardano_ada_comparison/
Ethereum isn’t going anywhere, maybe only one of Cardano or Polygon survives long term, but both can also coexist too.

it's not even close currently. polygon has far more real word use CURRENTLY

 

[BACCS]

For anyone interested, this is theory from Ben Cowen about the lengthening cycle (which he has been big on for a few months now):

Basically, we should see the next ATHs in mid 2022

 

[BACCS]

it's not even close currently. polygon has far more real word use CURRENTLY

I never said both can't coexist. I understand everyone has favourites, but I'm hedging with all of them just in case. I personally think Cardano/ADA is the best bet long term (if talking against MATIC), but that's just my opinion. I like all of the smart contract platforms and I hope all succeed and we all make bucket loads of money!

 

[BACCS]

Regardless of what some of us think is a genuine project, a shitcoin, a bull vs bear cycle, don't we all just want to make money? I enjoy the debates in this thread and watching/reading a variety of opinions on crypto, it helps to make the most informed decisions when it comes to trading/hodling the projects that will all help us retire early

I have always wondered if I would find a passion that actually makes me money, I have finally found it in crypto.

 

[faible]

Regardless of what some of us think is a genuine project, a shitcoin, a bull vs bear cycle, don't we all just want to make money? I enjoy the debates in this thread and watching/reading a variety of opinions on crypto, it helps to make the most informed decisions when it comes to trading/hodling the projects that will all help us retire early

The problem is, overwhelmingly crypto is dominated by what generates the most social media hype and not what has genuine real-world utility.

BTC & ETH are the only two I would be reasonably confident are still around in 5 years time. Everything else is a crapshoot.

It's an alternate universe stock market where underlying fundamentals are almost irrelevant.

 

[BACCS]

The problem is, overwhelmingly crypto is dominated by what generates the most social media hype and not what has genuine real-world utility.

BTC & ETH are the only two I would be reasonably confident are still around in 5 years time. Everything else is a crapshoot.

It's an alternate universe stock market where underlying fundamentals are almost irrelevant.

I do think this mindset is gradually shifting though, it will just take time. Just like mass adoption of the internet didn’t happen overnight, neither will the adoption of crypto. The more mainstream it becomes and the more people become interested in the space allows the projects to actually deliver something with a real world use. Of course not all projects will succeed, but for those that don’t there will be better ones that come in and do succeed by learning from previous failings.

I am talking 5, 10 and 20+ year timeframes here. The pandemic has highlighted to a lot of people that were previously oblivious at a very diminishing dollar value as Governments continue to print money.

 

[faible]

I do think this mindset is gradually shifting though, it will just take time. Just like mass adoption of the internet didn’t happen overnight, neither will the adoption of crypto. The more mainstream it becomes and the more people become interested in the space allows the projects to actually deliver something with a real world use. Of course not all projects will succeed, but for those that don’t there will be better ones that come in and do succeed by learning from previous failings.

I am talking 5, 10 and 20+ year timeframes here. The pandemic has highlighted to a lot of people that were previously oblivious at a very diminishing dollar value as Governments continue to print money.

Oh I think we're seeing crypto becoming increasingly accepted in the mainstream, and may well see it mature to the point where there's generaly some form of underlying value and financials to support the coin you're purchasing.

Right now though, DOGE is basically illustrating the absurdity of the market. It's a coin that was literally made as a joke, yet has been top-10 market cap for a while now.

Nothing wrong with holding things that aren't BTC or ETH, but if you take a look at the market cap charts from 5 years ago you'll see there's a whole heap of stuff that was Top-10 that simply doesn't exist anymore, and a number of the Top-10 today may well do the same.

BTC has become the psuedo USD of the crypto world, so even if there's not utility to it, everything else is valued against it.

 

[maryjames]

I heard a great take on the bull vs bear market argument today...
If you're a short term trader, then yes we are in a bear market right now
If you're a long term hodler, it's always a bull cycle

Anyone that holds a crypto asset for at least 4 years makes money (talking genuine projects here, not memecoins), regardless of the fluctuations in between.

Well if you bought 100k worth of crypto let say 5 projects in the top 20 from 2016 and held til 2021.

Easily worth 100x at worst case. That’s a poor 10 million today. Meh. Small money in crypto if focused on investing. Buying Ethereum and link to me is like buying a house. Long game. Buy huge dips. Continue on.
Can’t wait till we all crash another 65%. Buy hard again.

I guess also you got to trust the big picture. As long as you can live your day to day with making money then why wouldn’t everyone do this.

 

[BEaston]

The pandemic has highlighted to a lot of people that were previously oblivious at a very diminishing dollar value as Governments continue to print money.

Which is ironically the biggest driver of crypto gains.

 

[faible]

Well if you bought 100k worth of crypto let say 5 projects in the top 20 from 2016 and held til 2021.

Easily worth 100x at worst case. That’s a poor 10 million today. Meh. Small money in crypto if focused on investing. Buying Ethereum and link to me is like buying a house. Long game. Buy huge dips. Continue on.
Can’t wait till we all crash another 65%. Buy hard again.

I guess also you got to trust the big picture. As long as you can live your day to day with making money then why wouldn’t everyone do this.

Assuming I did this right you'd actually have $23.7m today if you'd put in $100k evenly across the Top-10 market cap back then. Only one of which has lost value compared to June 5th 2016.

$17.9 million of that from DOGE.

 

[maryjames]

Assuming I did this right you'd actually have $23.7m today if you'd put in $100k evenly across the Top-10 market cap back then. Only one of which has lost value compared to June 5th 2016.

$17.9 million of that from DOGE.

Was hoping someone would do that for me. Lol nice.

 

[faible]

Was hoping someone would do that for me. Lol nice.

Half of them aren't anywhere close to the Top-10 market cap now, but in dollar terms are still well ahead.

So which of these will be gone in 5 years, and which will have made you a millionaire?

 

[BACCS]

Assuming I did this right you'd actually have $23.7m today if you'd put in $100k evenly across the Top-10 market cap back then. Only one of which has lost value compared to June 5th 2016.

$17.9 million of that from DOGE.

What was DAO?

 

[Ghost Patrol]

I assume the usual suspects have been bagging doge that whole time.

And it did it without coinbase.

 

[The Dice Man]

So the lesson here is to put 10k into each of the top 10 and Profit in 5 years. Will it work with 1k into each?

 

[faible]

So the lesson here is to put 10k into each of the top 10 and Profit in 5 years. Will it work with 1k into each?

With 1k each you'd have less millions today.

 

[The Dice Man]

With 1k each you'd have less millions today.

But I'd still have millions... I don't need a lot, just a few.

 

[maryjames]

It’s messed up guys... think about this any of you can be multi millionaires in the next decade and maybe so much money you don’t know what to do with it.

Never sell. Trade 10% give or take and if if grows big trade big. For me it’s easiest to trade when it crashes. Pick the bottom or close enough and wait a few days. Pick the alts that have been strong. They Pop the most.

Simple game. Really

 

[BACCS]

It’s messed up guys... think about this any of you can be multi millionaires in the next decade and maybe so much money you don’t know what to do with it.

Never sell. Trade 10% give or take and if if grows big trade big. For me it’s easiest to trade when it crashes. Pick the bottom or close enough and wait a few days. Pick the alts that have been strong. They Pop the most.

Simple game. Really

My plan is to hodl until we reach the true market cycle peak in 2022 and gradually put more in each month, sell it all at the peak (or as close to it as I can) and wait for the correction, then keep some of the profits and put the rest back into my cryptos at a reduced price. Hodl again for the next bull cycle and put gradual amounts in over time.