Cryptocurrency mega-thread

[Zgope1]

ETH will flip BTC, I don’t think there is a question of if anymore. I can then just see them both trading places at the top for the next few years and then ETH holding top place in the long term. This is of course contingent on Ethereum’s upgrade going to plan.

what's this based upon? I obviously think its price will go up and up and up because of its network effect but the widespread adoption of btc is still super early in its curve. BTC represents a future alternative to a bank account for many. Eth, while being valuable, has stacks of competition and will never be suitable for such a use because it's not so much a safe money and much more a company stock engineered for profit/capital growth.

BTC pretty much cant be a myspace, ETH very well possibly could.

i don't mind if i'm wrong because i'm positioned with okay defence, but only one of these two things is a true monetary asset with the prospects of becoming the new money of the world.

 

[BACCS]

what's this based upon? I obviously think its price will go up and up and up because of its network effect but the widespread adoption of btc is still super early in its curve. BTC represents a future alternative to a bank account for many. Eth, while being valuable, has stacks of competition and will never be suitable for such a use because it's not so much a safe money and much more a company stock engineered for profit/capital growth.

BTC pretty much cant be a myspace, ETH very well possibly could.

i don't mind if i'm wrong because i'm positioned with okay defence, but only one of these two things is a true monetary asset with the prospects of becoming the new money of the world.

I personally think Ethereum has built up a network that is large enough to keep off competitors from overtaking long term, they’ve benefited from being earlier to market with smart contracts. As I’ve said many times though, it is absolutely contingent on the successful rollout of ETH 2.0.

I don’t see why it can’t coexist with Cardano, Polkadot etc, there is more than enough room in the market, just like there is in many tech markets for 2 or 3 major players.

Why can’t there be more than one major digital currency? BTC is first, but as the Ethereum network (and others) continue to grow from here, then the value in their tokens will increase as more people use the network to build on/transact on. As the Ethereum networks continues to grow and becomes cheaper to transact on (which is coming with the upgrades), the token value will only continue to grow (especially as they start burning tokens). Why would someone necessarily need BTC in 10 years if they’re using applications on the Ethereum platform? I think both can co-exist together (along with other networks) for a very long time to come as the DeFi space just grows and grows.

Any of my profits for the next 2-3 years will be used to buy more ETH and BTC during dips and just continue to HODL for the long term and earn passive income on places like Nexo.

 

[BACCS]

Shiba was added to Coinbase, wtf? I thought they were diligent in what they added and only focused on actual projects?

 

[The Dice Man]

Shiba was added to Coinbase, wtf? I thought they were diligent in what they added and only focused on actual projects?

That's why it jumped 25% yesterday.

 

[BACCS]

That's why it jumped 25% yesterday.

So damn stupid and irresponsible for new traders, especially since Coinbase was all about only listing legit projects that potentially have long term futures.

 

[BACCS]

https://www.google.com.au/amp/s/coi...on-june-25-will-be-a-make-or-break-moment/amp
ETH has its largest futures expiry for 2021 on June 25.

 

[The Dice Man]

So damn stupid and irresponsible for new traders, especially since Coinbase was all about only listing legit projects that potentially have long term futures.

Commission rules I guess.

 

[Zgope1]

I personally think Ethereum has built up a network that is large enough to keep off competitors from overtaking long term, they’ve benefited from being earlier to market with smart contracts. As I’ve said many times though, it is absolutely contingent on the successful rollout of ETH 2.0.

I don’t see why it can’t coexist with Cardano, Polkadot etc, there is more than enough room in the market, just like there is in many tech markets for 2 or 3 major players.

Why can’t there be more than one major digital currency? BTC is first, but as the Ethereum network (and others) continue to grow from here, then the value in their tokens will increase as more people use the network to build on/transact on. As the Ethereum networks continues to grow and becomes cheaper to transact on (which is coming with the upgrades), the token value will only continue to grow (especially as they start burning tokens). Why would someone necessarily need BTC in 10 years if they’re using applications on the Ethereum platform? I think both can co-exist together (along with other networks) for a very long time to come as the DeFi space just grows and grows.

Any of my profits for the next 2-3 years will be used to buy more ETH and BTC during dips and just continue to HODL for the long term and earn passive income on places like Nexo.

because it's more decentralized. choosing Vitalik and Eth whales as your new sovereign state dictating monetary policy is dumb. BTC being truly proof of work and better secured makes it gold and ETH isn't even competing for it. You can make a lot of money out of oil so it's perfectly legitimate to still own Eth, but it will be valuable for network functionality, not value storage.


the very fact they're burning tokens is just so there is a level of profitability for its founders. Hardly the sound money that BTC is.

I too would be optimistic ETH can hold out its competition for functionality but you never know. it's a wild world out there. if you're using it for value storage then you're just letting Vitalik be your new bank.

I'm tipping they'll both be valuable for many years to come but ETH will not market correct BTC because it fails to serve BTC's purpose as well as BTC.

 

[BACCS]

because it's more decentralized. choosing Vitalik and Eth whales as your new sovereign state dictating monetary policy is dumb. BTC being truly proof of work and better secured makes it gold and ETH isn't even competing for it. You can make a lot of money out of oil so it's perfectly legitimate to still own Eth, but it will be valuable for network functionality, not value storage.


the very fact they're burning tokens is just so there is a level of profitability for its founders. Hardly the sound money that BTC is.

I too would be optimistic ETH can hold out its competition for functionality but you never know. it's a wild world out there. if you're using it for value storage then you're just letting Vitalik be your new bank.

I'm tipping they'll both be valuable for many years to come but ETH will not market correct BTC because it fails to serve BTC's purpose as well as BTC.

I never said it was a source of value storage for me, it’s just a long term investment as much as Bitcoin is. Just like how people invest in companies and Gold in traditional markets. Anyway, our opinions clearly differ on a few points and that’s fine, I enjoy the discussion! This is all speculation and none of us can predict the future.

Vitalik understands DeFi better than any of us, given that he was a very early adopter of BTC. How is your BTC not just controlled by the massive institutions and whales? Saying that I’m letting Vitalik be my bank is just like saying anyone investing in BTC is making the large institutions their bank, they’re the ones controlling price action after all.

 

[BACCS]

Anyone on here invested in Origin Protocol? Getting a lot of coverage and price action in recent days

 

[Evolved1]

Bollinger says the bottom is in. BTFD.

 

[Zgope1]

I never said it was a source of value storage for me, it’s just a long term investment as much as Bitcoin is. Just like how people invest in companies and Gold in traditional markets. Anyway, our opinions clearly differ on a few points and that’s fine, I enjoy the discussion! This is all speculation and none of us can predict the future.

Vitalik understands DeFi better than any of us, given that he was a very early adopter of BTC. How is your BTC not just controlled by the massive institutions and whales? Saying that I’m letting Vitalik be my bank is just like saying anyone investing in BTC is making the large institutions their bank, they’re the ones controlling price action after all.

I agree it's good discussion and ultimately i am bullish on both long term.

Sorry, but in proof of stake, which ETH is set to be,whales decide software updates and rules of the system, not consensus.

In proof of work, which BTC is, consensus is required for software updates. which means anyone who wants to set up a node can be a part of it. In 2017, a group of whackos tried to influence the whole BTC software system and they still couldn't reach consensus so it didn't happen. It was a huge existential moment for BTC was Segwit. The same is for institutions. All they can do is drive FUD but there's been FUD for years and the asset has appreciated throughout. Any investment in a free market will be susceptible to FUD. It can influence price action to an extent but a true HODLer shouldn't really care about that. all you want is 1 of 21M, screw what it means in fiat.

ETH is oil, BTC is gold. ETH makes stuff happen and people profit from it especially their founders. Bitcoin is the best money ever to exist. They're both cool so at least we agree on that.

 

[Evolved1]

MicroStrategy Files to Sell as Much as $1 Billion in Shares

(Bloomberg) -- MicroStrategy Inc. filed a “shelf” registration with the U.S. Securities and Exchange Commission to sell as much as $1 billion in common shares for general purposes, including the purchase of more Bitcoin.The enterprise software maker announced earlier Monday that it had completed...

finance.yahoo.com

 

[Ghost Patrol]

ABC explaining crypto

 

[Angus Young]

So damn stupid and irresponsible for new traders, especially since Coinbase was all about only listing legit projects that potentially have long term futures.

Shiba to the moon

 

[The Dice Man]

Did anyone get on the AMP train? I got in at .03 and still holding. Might just ride it long term and see where it goes.

Edit, actually it was .04 when I got on

 

[ForeverHardcore]

Have just whacked my first amount of money on crypto.com
Have wanted to start for years but have never taken the punt. Better late then never

Does anyone have any advice where to start??

 

[faible]

Have just whacked my first amount of money on crypto.com
Have wanted to start for years but have never taken the punt. Better late then never

Does anyone have any advice where to start??

Are you in it for the long run? If so BTC is your ‘safe’ option. ETH next most safe.

Everything else is increasing degrees of speculative.

 

[ForeverHardcore]

Are you in it for the long run? If so BTC is your ‘safe’ option. ETH next most safe.

Everything else is increasing degrees of speculative.

Would like it to be a long term investment yes
Is 500 a decent amount or not enough to start out? Funds still haven’t popped up onto the app yet, saying it’ll be 2/3 days

 

[faible]

Would like it to be a long term investment yes
Is 500 a decent amount or not enough to start out? Funds still haven’t popped up onto the app yet, saying it’ll be 2/3 days

You can start with $10. Doesn’t really get any cheaper with a larger investment, so invest whatever amount you like in to as many different coins as you like.

Could do a bit in to both BTC and ETH if you wanted to spread your exposure a little, BTC ($737b) and ETH ($285b) are miles ahead of the next best crypto BNB ($55b) market cap wise.

Depending on what you want to do you could put all $500 in a combo of those two, or spread it further down the list of say the top-10 market cap coins.

https://coinmarketcap.com/ is a good one to see the market cap of various coins.

Just FYI; USDT is a coin tethered at 1:1 to the USD so isn’t a cryptocurrency that you’d buy and hold long term.

If you want to trade in and out coins you can use BTC to do that, so no harm in buying that for now and reading up more to decide if you want to participate in the irrational crypto trading frenzy that the rest of us do to varying degrees.

 

[ForeverHardcore]

You can start with $10. Doesn’t really get any cheaper with a larger investment, so invest whatever amount you like in to as many different coins as you like.

Could do a bit in to both BTC and ETH if you wanted to spread your exposure a little, BTC ($737b) and ETH ($285b) are miles ahead of the next best crypto BNB ($55b) market cap wise.

Depending on what you want to do you could put all $500 in a combo of those two, or spread it further down the list of say the top-10 market cap coins.

https://coinmarketcap.com/ is a good one to see the market cap of various coins.

Just FYI; USDT is a coin tethered at 1:1 to the USD so isn’t a cryptocurrency that you’d buy and hold long term.

If you want to trade in and out coins you can use BTC to do that, so no harm in buying that for now and reading up more to decide if you want to participate in the irrational crypto trading frenzy that the rest of us do to varying degrees.

Amazing advice
I really appreciate it
I’ll put a few hundred dollars into both eth and btc and start researching trends and markets
I’ve always been obsessed with numbers and money games like supercoach and think crypto is something worth a punt. Recjon doing it with real money will be a bit of a thrill ride. Not going to do it as a profession but definitely want to see what I can get out of it

I’ve saved that coin market page to my favourites on my phone so will check it out over the coming days and weekend. Thank you for your help Owen much appreciated

 

[faible]

Amazing advice
I really appreciate it
I’ll put a few hundred dollars into both eth and btc and start researching trends and markets
I’ve always been obsessed with numbers and money games like supercoach and think crypto is something worth a punt. Recjon doing it with real money will be a bit of a thrill ride. Not going to do it as a profession but definitely want to see what I can get out of it

I’ve saved that coin market page to my favourites on my phone so will check it out over the coming days and weekend. Thank you for your help Owen much appreciated

It’s definitely a bit of fun, the irrational meme coin buying based off Twitter posts is a lot of amusement. There’s some really good posts throughout this thread by people who’ve been doing this for a long time which are a good starting point if you haven’t gone back and read through yet.

 

[ForeverHardcore]

It’s definitely a bit of fun, the irrational meme coin buying based off Twitter posts is a lot of amusement. There’s some really good posts throughout this thread by people who’ve been doing this for a long time which are a good starting point if you haven’t gone back and read through yet.

Will do that over the weekend
I’m trying to stay as up to date as possible to try and see what to jump on at what time etc
Most the stuff I’ve read about has either peaked or dipped
So learning as I go

 

[BACCS]

Did anyone get on the AMP train? I got in at .03 and still holding. Might just ride it long term and see where it goes.

Edit, actually it was .04 when I got on

What on earth is AMP? Have seen it pop up for a few days now but haven’t bothered to do any research into it

 

[Bostonian]

Have just whacked my first amount of money on crypto.com
Have wanted to start for years but have never taken the punt. Better late then never

Does anyone have any advice where to start??

Don't buy yet. A downturn could be coming.

When everyone starts complaining how much their portfolios are down then that's a time to potentially jump in.