Cryptocurrency mega-thread

[The Dice Man]

I had an order in for some SOL at $155 overnight and obviously it didn't hit, but thoughts on how far Sol can go? The ecosystem is getting a lot of attention and it's not impossible it flips ETH this bullrun due to humungous fees, despite the amount of projects on ETH.

I don't see much happening on ADA this bullrun and actually think it might struggle after smart contracts go live. I don't hold any ADA but do have a very small bag of ADAX.

 

[BACCS]

I had an order in for some SOL at $155 overnight and obviously it didn't hit, but thoughts on how far Sol can go? The ecosystem is getting a lot of attention and it's not impossible it flips ETH this bullrun due to humungous fees, despite the amount of projects on ETH.

I don't see much happening on ADA this bullrun and actually think it might struggle after smart contracts go live. I don't hold any ADA but do have a very small bag of ADAX.

SOL is just the flavour of the cycle so far. I’m sure it can go higher this cycle and maybe long term it could flip ETH, but there is no way it’s doing another 8x this cycle and ETH remains stagnant, both of which need to occur for it to flip ETH. ETH will have its big run soon enough and make it impossible for anything else to catch it.

The only brief flippening I can see this cycle is ETH over BTC (if ETH goes on it’s run after BTC reaches its peak and starts to dip), but even that I think is less than a 50% chance.

 

[The Dice Man]

SOL is just the flavour of the cycle so far. I’m sure it can go higher this cycle and maybe long term it could flip ETH, but there is no way it’s doing another 8x this cycle and ETH remains stagnant, both of which need to occur for it to flip ETH. ETH will have its big run soon enough and make it impossible for anything else to catch it.

The only brief flippening I can see this cycle is ETH over BTC (if ETH goes on it’s run after BTC reaches its peak and starts to dip), but even that I think is less than a 50% chance.

Is that like there is no way that XRP will go sub $1.00 before reaching $10?

Nothing is sure in this realm. ETH gas fees are really problematic to the point it's almost unusable to the average Joe.

 

[BACCS]

Is that like there is no way that XRP will go sub $1.00 before reaching $10?

Nothing is sure in this realm. ETH gas fees are really problematic to the point it's almost unusable to the average Joe.

The ETH gas issues are way too high, the upgrade can’t come quick enough. However, the average investor aren’t the ones that can pump price significantly. Institutions/whales don’t care about gas fees if they’re looking to buy/sell, that number is insignificant when you’re dealing with the money they are. If they want ETH to pump, they will pump it (21% of the supply is held by 10 wallets); if they want SOL to pump, they will pump it.

ETH won’t just stagnate while SOL pumps another 8x from here. ETH ripped hard a week ago and it will rip again soon enough; that will make it near on impossible for SOL to pass it this cycle.

SOL is pumping because it currently has the larger institutional interest, not because of its lower fees. I reckon 500 max for it this cycle, which is still great for all of its early investors. Smart contracts launching on Cardano this week will see ADA go on another big run as well, especially since institutions have been into it for a while now.

 

[The Dice Man]

The ETH gas issues are way too high, the upgrade can’t come quick enough. However, the average investor aren’t the ones that can pump price significantly. Institutions/whales don’t care about gas fees if they’re looking to buy/sell, that number is insignificant when you’re dealing with the money they are. If they want ETH to pump, they will pump it (21% of the supply is held by 10 wallets); if they want SOL to pump, they will pump it.

ETH won’t just stagnate while SOL pumps another 8x from here. ETH ripped hard a week ago and it will rip again soon enough; that will make it near on impossible for SOL to pass it this cycle.

SOL is pumping because it currently has the larger institutional interest, not because of its lower fees. I reckon 500 max for it this cycle, which is still great for all of its early investors. Smart contracts launching on Cardano this week will see ADA go on another big run as well, especially since institutions have been into it for a while now.

Might not be this cycle, but it very well could in the next.

 

[LongBombFromOutside50]

Still 2-3 weeks for the Col-5 upgrade for LUNA. It's a massive step for LUNA. Coming with that is a burn of roughly $300 million LUNA, causing a massive supply squeeze.

If LUNA doesn't reach $100 in the next month or two, it'll come pretty close to it.

Agree Luna looks very strong at the moment. Some Sol profits are also been rotated into it most likely. Yesterday I took out a long trade in the Luna futures market with the take profit level undefined for now.

 

[LongBombFromOutside50]

I had an order in for some SOL at $155 overnight and obviously it didn't hit, but thoughts on how far Sol can go? The ecosystem is getting a lot of attention and it's not impossible it flips ETH this bullrun due to humungous fees, despite the amount of projects on ETH.

I don't see much happening on ADA this bullrun and actually think it might struggle after smart contracts go live. I don't hold any ADA but do have a very small bag of ADAX.

I'm a huge believer in SOL and have been in it for almost 9 months, but I'd be shocked if it flipped ETH during this bull run. Of course anything is possible though. On the other hand, top 3 market cap this cycle is programmed.

 

[LongBombFromOutside50]

I had an order in for some SOL at $155 overnight and obviously it didn't hit, but thoughts on how far Sol can go? The ecosystem is getting a lot of attention and it's not impossible it flips ETH this bullrun due to humungous fees, despite the amount of projects on ETH.

I don't see much happening on ADA this bullrun and actually think it might struggle after smart contracts go live. I don't hold any ADA but do have a very small bag of ADAX.

EDIT: FTM looks to be cooling off a bit for the time being as well. You still holding it?

 

[The Dice Man]

EDIT: FTM looks to be cooling off a bit for the time being as well. You still holding it?

I had 500 ftm and took out 100 when it was at 1.475, and it's actually climbed above that now. I pretty much took it out at the current bottom.. Whoa is me. I still think it has a ways to fly. I'll buy back in if it dips further but wait for a signal it's on it's way back up. I probably should have taken some out at 1.80

I'm not used to knowing when to take profits and how much. I'm having the same issue with Harmony at the moment. It was at .16 before I went to bed last night but I left it and now it's climbed to over .20.

I've sold 10% of my Arweave when it was at $70 and that was hard. But reinvested it into more Dot and Raydium.

EDIT: although if BTC stays stable, Harmony may have a fair way to go yet.

 

[Shupe]

I had 500 ftm and took out 100 when it was at 1.475, and it's actually climbed above that now. I pretty much took it out at the current bottom.. Whoa is me. I still think it has a ways to fly. I'll buy back in if it dips further but wait for a signal it's on it's way back up. I probably should have taken some out at 1.80

I'm not used to knowing when to take profits and how much. I'm having the same issue with Harmony at the moment. It was at .16 before I went to bed last night but I left it and now it's climbed to over .20.

I've sold 10% of my Arweave when it was at $70 and that was hard. But reinvested it into more Dot and Raydium.

EDIT: although if BTC stays stable, Harmony may have a fair way to go yet.

Some pretty basic TA will help you with trying to determine good sell/buy points.

 

[The Dice Man]

Some pretty basic TA will help you with trying to determine good sell/buy points.

I get that, but how much does market sentiment and 'news' play into it. For example SOL and FTM this last week, how do you pick it? I've no training obviously, and I think, hopefully, I've worked out some good buy points, it's the selling part I'm lost on... Probably because I haven't really had to worry about that until now.

Looking back on FTM this week and I can see where the RSI is through the roof and corresponded with a sell-off.

 

[The Dice Man]

A question for the more experienced in here and I'll provide a bit of background. I lost my job at the end of last year due to Covid(not really.. boss was just being a tightass), but it was done in a way where I get a year's full salary each month. So I've spent this year renovating our house and obviously, getting into crypto since around May 20th.

Needless to say I have watched a tonne of youtube vids, a few books and countless articles. I've lived my life instinctively, making decisions on the fly and moving states, then countries on a whim, or a vibe.

So I've had some spare money and time to play with this game, and it has become a bit of an obsession.

The point I'm getting to is that I follow a few Youtubers pretty closely; Coin Bureau has been a great source of knowledge, and the last month or so I've watched Crypto Banter very closely.. They seem to align with my outlook where I'm not really interested in BTC or ETH, I want to try and find the gems. And from extension of those guys I've watched a few Alex Becker tubes.

What I've not worked out yet is if these guys are shilling coins they hold for a dump after.. I watch the little known coins they recommend for the next day or 3, and either they really know their shit, or they themselves are the cause of the pump.

It's a pretty powerful position to find yourself in to make money.

I forgot my question now.

 

[ash_1050]

The point I'm getting to is that I follow a few Youtubers pretty closely; Coin Bureau has been a great source of knowledge, and the last month or so I've watched Crypto Banter very closely.. They seem to align with my outlook where I'm not really interested in BTC or ETH, I want to try and find the gems. And from extension of those guys I've watched a few Alex Becker tubes.

What I've not worked out yet is if these guys are shilling coins they hold for a dump after.. I watch the little known coins they recommend for the next day or 3, and either they really know their sh*t, or they themselves are the cause of the pump.

It's a pretty powerful position to find yourself in to make money.

I forgot my question now.

There's unfortunately plenty of people on Twitter and Youtube willing to take advantage of other people's naivety by promoting or pumping garbage coins in exchange for a kickback or being part of the inner sanctum of those running the P&D scheme.

John McAfee was one of the OGs of doing so back in 2017, and I remember people shilling BitConnect as well as a legitimate financial strategy. Bizarrely you'd even have people saying 'I know Bitconnect is a ponzi scheme, however I'll put some money into it, wait until it hits $X and then pull it out because I'm smart', or 'I'll wait until it starts to collapse and pull my money out super quick.' On the upside it did give us this incredible crypto meme.

More recently some people put hundreds or thousands of dollars into Doge coin, all the while knowing it was literally created as a joke coin, utterly worthless and has an inbuilt mechanism to dilute their holdings each day. People bought in because they felt smart and expected other people to buy in at a higher price, thereby enabling them to sell out and profit. No one can put forward a serious use case as to why Doge coin is investable, yet people still invested.

It would make for an excellent psychological study to find out why people were inspired to invest knowing it's probably going to backfire and still doing so anyway.

 

[BACCS]

There's unfortunately plenty of people on Twitter and Youtube willing to take advantage of other people's naivety by promoting or pumping garbage coins in exchange for a kickback or being part of the inner sanctum of those running the P&D scheme.

John McAfee was one of the OGs of doing so back in 2017, and I remember people shilling BitConnect as well as a legitimate financial strategy. Bizarrely you'd even have people saying 'I know Bitconnect is a ponzi scheme, however I'll put some money into it, wait until it hits $X and then pull it out because I'm smart', or 'I'll wait until it starts to collapse and pull my money out super quick.' On the upside it did give us this incredible crypto meme.

More recently some people put hundreds or thousands of dollars into Doge coin, all the while knowing it was literally created as a joke coin, utterly worthless and has an inbuilt mechanism to dilute their holdings each day. People bought in because they felt smart and expected other people to buy in at a higher price, thereby enabling them to sell out and profit. No one can put forward a serious use case as to why Doge coin is investable, yet people still invested.

It would make for an excellent psychological study to find out why people were inspired to invest knowing it's probably going to backfire and still doing so anyway.

I’ve also heard stories of people investing into several of these micro cap tokens, knowing they’re mostly scams, but if one hits it makes up for any other losses. Some have made decent money doing this, but it’s a dangerous game to play and the odds are against you to sustain it in the long term.

 

[Ghost Patrol]

There's unfortunately plenty of people on Twitter and Youtube willing to take advantage of other people's naivety by promoting or pumping garbage coins in exchange for a kickback or being part of the inner sanctum of those running the P&D scheme.

John McAfee was one of the OGs of doing so back in 2017, and I remember people shilling BitConnect as well as a legitimate financial strategy. Bizarrely you'd even have people saying 'I know Bitconnect is a ponzi scheme, however I'll put some money into it, wait until it hits $X and then pull it out because I'm smart', or 'I'll wait until it starts to collapse and pull my money out super quick.' On the upside it did give us this incredible crypto meme.

More recently some people put hundreds or thousands of dollars into Doge coin, all the while knowing it was literally created as a joke coin, utterly worthless and has an inbuilt mechanism to dilute their holdings each day. People bought in because they felt smart and expected other people to buy in at a higher price, thereby enabling them to sell out and profit. No one can put forward a serious use case as to why Doge coin is investable, yet people still invested.

It would make for an excellent psychological study to find out why people were inspired to invest knowing it's probably going to backfire and still doing so anyway.

You can use doge to send satellites to the moon.

 

[Evolved1]

There's unfortunately plenty of people on Twitter and Youtube willing to take advantage of other people's naivety by promoting or pumping garbage coins in exchange for a kickback or being part of the inner sanctum of those running the P&D scheme.

John McAfee was one of the OGs of doing so back in 2017, and I remember people shilling BitConnect as well as a legitimate financial strategy. Bizarrely you'd even have people saying 'I know Bitconnect is a ponzi scheme, however I'll put some money into it, wait until it hits $X and then pull it out because I'm smart', or 'I'll wait until it starts to collapse and pull my money out super quick.' On the upside it did give us this incredible crypto meme.

More recently some people put hundreds or thousands of dollars into Doge coin, all the while knowing it was literally created as a joke coin, utterly worthless and has an inbuilt mechanism to dilute their holdings each day. People bought in because they felt smart and expected other people to buy in at a higher price, thereby enabling them to sell out and profit. No one can put forward a serious use case as to why Doge coin is investable, yet people still invested.

It would make for an excellent psychological study to find out why people were inspired to invest knowing it's probably going to backfire and still doing so anyway.

In fairness, most of these tokens are worthless. Crypto is a game of musical chairs with the goal being to not be the last man standing when the music stops. Nobody wants to be a shitcoin bagholder though a bear market.

 

[FRUMPY]

In fairness, most of these tokens are worthless. Crypto is a game of musical chairs with the goal being to not be the last man standing when the music stops. Nobody wants to be a shitcoin bagholder though a bear market.

Sounds like a pyramid scheme [emoji848][emoji1787]

Sent from my CPH2005 using Tapatalk

 

[Evolved1]

Sounds like a pyramid scheme [emoji848][emoji1787]

Sent from my CPH2005 using Tapatalk

While there are legitimate projects, old timers know that most shitcoins are scams.
We don't care if we can make money from trading them.

 

[The Dice Man]

There's unfortunately plenty of people on Twitter and Youtube willing to take advantage of other people's naivety by promoting or pumping garbage coins in exchange for a kickback or being part of the inner sanctum of those running the P&D scheme.

John McAfee was one of the OGs of doing so back in 2017, and I remember people shilling BitConnect as well as a legitimate financial strategy. Bizarrely you'd even have people saying 'I know Bitconnect is a ponzi scheme, however I'll put some money into it, wait until it hits $X and then pull it out because I'm smart', or 'I'll wait until it starts to collapse and pull my money out super quick.' On the upside it did give us this incredible crypto meme.

More recently some people put hundreds or thousands of dollars into Doge coin, all the while knowing it was literally created as a joke coin, utterly worthless and has an inbuilt mechanism to dilute their holdings each day. People bought in because they felt smart and expected other people to buy in at a higher price, thereby enabling them to sell out and profit. No one can put forward a serious use case as to why Doge coin is investable, yet people still invested.

It would make for an excellent psychological study to find out why people were inspired to invest knowing it's probably going to backfire and still doing so anyway.

Never seen that before, it's hilarious.

And at 30 seconds you see Alex Albon behind him. He did ok after this.

 

[BACCS]

This goes live around 7am tomorrow morning our time

 

[faible]

It would make for an excellent psychological study to find out why people were inspired to invest knowing it's probably going to backfire and still doing so anyway.

FOMO is my guess.

You see people making these incredible returns, and much like gamblers, people only talk about their wins. So eventually after all the hype people that really don’t understand the tech throw money in to DOGE.

A few of them, make a shitload of money, tell their mates, and off it goes. Until it doesn’t, and they all go quiet, but no one talks about what they’ve lost.

 

[bzparkes]

I’ve also heard stories of people investing into several of these micro cap tokens, knowing they’re mostly scams, but if one hits it makes up for any other losses. Some have made decent money doing this, but it’s a dangerous game to play and the odds are against you to sustain it in the long term.

Yeah, I did that and made $15k off one from a $300 investment. Had 2 others I made $4k from in one night off $200 in each.

burned through probably $1.5k the other way though, because it's way harder to get lucky than make huge gains. As long as you only use play money and treat it like the casino it is it's fine to have a play. Certainly not something you should base your overall trading strategy off.

 

[bzparkes]

A question for the more experienced in here and I'll provide a bit of background. I lost my job at the end of last year due to Covid(not really.. boss was just being a tightass), but it was done in a way where I get a year's full salary each month. So I've spent this year renovating our house and obviously, getting into crypto since around May 20th.

Needless to say I have watched a tonne of youtube vids, a few books and countless articles. I've lived my life instinctively, making decisions on the fly and moving states, then countries on a whim, or a vibe.

So I've had some spare money and time to play with this game, and it has become a bit of an obsession.

The point I'm getting to is that I follow a few Youtubers pretty closely; Coin Bureau has been a great source of knowledge, and the last month or so I've watched Crypto Banter very closely.. They seem to align with my outlook where I'm not really interested in BTC or ETH, I want to try and find the gems. And from extension of those guys I've watched a few Alex Becker tubes.

What I've not worked out yet is if these guys are shilling coins they hold for a dump after.. I watch the little known coins they recommend for the next day or 3, and either they really know their sh*t, or they themselves are the cause of the pump.

It's a pretty powerful position to find yourself in to make money.

I forgot my question now.

crypto ex-pat is pretty good. Small channel, Aussie bloke who's been in crypto for years and shows how to make money in DeFi through a range of different methods. Covers a lot of the risks and doesn't just shill coins he's invested in.

 

[The Dice Man]

crypto ex-pat is pretty good. Small channel, Aussie bloke who's been in crypto for years and shows how to make money in DeFi through a range of different methods. Covers a lot of the risks and doesn't just shill coins he's invested in.

Cheers, I'll check him out.

 

[Bostonian]

Everything I sold out in SOL I put into DOT. This isn't my hold portfolio so I can make these short term plays.

Making money.