Cryptocurrency mega-thread

[Shupe]

Nah, it's due to KSM just running their parachain auction.

Everything goes through KSM now before it gets to DOT.

That's what KSM is, DOTs testing platform.

Good lead going forward for how DOTs might go in the future though.

Are you allocating any of your KSM to the auctions?

 

[Evolved1]

Solana will be a top 5 coin by the end of the year easy. And top 3 coin within 2 years

A lot of people love SOL.

 

[BEaston]

I'm not sure you fully understand then...

A quick search shows there's a total supply of around 1 billion DOT tokens. There's a total supply of 10 million KSM tokens. Hence the difference in token value.

Looking at the price of a token tells you absolutely nothing if you're not accounting for MC and supply.

This has been explained several times now lol

 

[BACCS]

I'm not sure you fully understand then...

A quick search shows there's a total supply of around 1 billion DOT tokens. There's a total supply of 10 million KSM tokens. Hence the difference in token value.

Looking at the price of a token tells you absolutely nothing if you're not accounting for MC and supply.

Fair enough, I was just asking the question. Even with only 10 million tokens, I was just trying to understand why the KSM market cap was so high given it is effectively a testing platform for DOT. I understand how market cap is calculated, I'm just trying to understand why KSM is valued at where it is given what it is being used for.

 

[Bostonian]

Are you allocating any of your KSM to the auctions?

Half of what I held I did. Didn't want it all locked up in the event it did pump a bit so some profit could be taken to buy more KSM when it dips again.

 

[Bostonian]

Yeah cool, I understand how market caps work. The price of KSM is hugely inflated if it is just a testing platform for DOT, so I’m just trying to understand the differences between each.

It's not inflated, it's worth that due to it's importance to the DOT blockchain.

It's a gateway as such. In their own words:

Kusama is wild and fast; great for bold experimentation and early-stage deployment. Polkadot is more conservative, prioritizing stability and dependability

Meaning by the time something hits DOT it's worked out a lot of it's issues and is far more stable for things that are more risk averse. DOT also gets to see which projects are the best available. In time many projects could choose simply to stay on KSM.

Rather than trying to be a blockchain that is all things for everyone they have created a system where you have a choice based on what suits your project best.

KSM is also 4 times faster than DOT at present.

 

[maryjames]

 

[BACCS]

Getting some very nice momentum up now, volume good too. Close on the daily above 38k and 40k is well and truly on the cards very soon.

 

[Evolved1]

This price action reminds me of January 2019. If history repeats, we range for weeks, go up to 48k, back down to 30k, then up to 500k.

 

[BACCS]

This price action reminds me of January 2019. If history repeats, we range for weeks, go up to 48k, back down to 30k, then up to 500k.

I still think the next ATH is coming next year, unless we go an almighty rally and put in daily pumps never seen before, which is definitely more possible since the El Salvador news

 

[The Dice Man]

This afternoon I traded all my larger ALT coin holdings into BTC. Alts did nothing the last 36 hrs while btc rose, and dipped. Figure I may as well ride the BTC train as even if that goes down, the ALTs would've dropped even more. Never had Bitcoins before today but the flex pulled me in. Will buy back in at some stage.

Sure I'm a Noob but I've been pretty obsessed with this.. It's an addiction, that's watered other addictions.. caffeine and tobacco.

 

[The Dice Man]

Changed my mind and put everything into ICP. It's really cheap now.

 

[BACCS]

This afternoon I traded all my larger ALT coin holdings into BTC. Alts did nothing the last 36 hrs while btc rose, and dipped. Figure I may as well ride the BTC train as even if that goes down, the ALTs would've dropped even more. Never had Bitcoins before today but the flex pulled me in. Will buy back in at some stage.

Sure I'm a Noob but I've been pretty obsessed with this.. It's an addiction, that's watered other addictions.. caffeine and tobacco.

Did you trade at a loss?

 

[BACCS]

Changed my mind and put everything into ICP. It's really cheap now.

Did you actually do this?

 

[Bostonian]

View attachment 1151788

So when all those scam calls come in at dinner time we'll be asked to pay in BTC then.

 

[Bostonian]

Did you actually do this?

Hope not!

 

[Bostonian]

Changed my mind and put everything into ICP. It's really cheap now.

It's really evil too.

 

[maryjames]

So when all those scam calls come in at dinner time we'll be asked to pay in BTC then.

They call all day anytime these days. Lesotho the other day. Had to google where it was. Lol

 

[maryjames]

This afternoon I traded all my larger ALT coin holdings into BTC. Alts did nothing the last 36 hrs while btc rose, and dipped. Figure I may as well ride the BTC train as even if that goes down, the ALTs would've dropped even more. Never had Bitcoins before today but the flex pulled me in. Will buy back in at some stage.

Sure I'm a Noob but I've been pretty obsessed with this.. It's an addiction, that's watered other addictions.. caffeine and tobacco.

Every newbie to crypto. Love it.

 

[BACCS]

The number one price point for futures positions right now on BTC is 50k; however, there are quite a few in positions within the 24-32k range. A battle of the bulls vs bears...

 

[Shupe]

ICP had/has terrible tokenomics

 

[maryjames]

ICP had/has terrible tokenomics

When it gets to $20 I’m buying, lol,

 

[thedreadpirateroberts]

This afternoon I traded all my larger ALT coin holdings into BTC. Alts did nothing the last 36 hrs while btc rose, and dipped. Figure I may as well ride the BTC train as even if that goes down, the ALTs would've dropped even more. Never had Bitcoins before today but the flex pulled me in. Will buy back in at some stage.

Sure I'm a Noob but I've been pretty obsessed with this.. It's an addiction, that's watered other addictions.. caffeine and tobacco.

Probably dont invest then if you're expecting to get rich quick buy putting money in to alt coins. its a long term game.

 

[The Dice Man]

Did you trade at a loss?

No, small gains.

Did you actually do this?

No I didnt really, but it is up around $4 since I posted that

 

[Bostonian]

They call all day anytime these days. Lesotho the other day. Had to google where it was. Lol

One of my fave YouTube channels is a Russian hacker who wrecks Indian scammers.