Cryptocurrency mega-thread

[Evolved1]

I wasn't in Crypto at the time but I remember there being a huge boost a few years ago around xmas time(was it 2017?), is it possible families coming together could spread word again? But for the word to be positive we would want to see some more growth before xmas.

Or another covid winter lockdown for the northern hemisphere might stimulate retail. But Im nt sure how any government can further getaway with lockdowns with high percentages of 'vaccinated'.

This cycle is boring compared to the last one. There were so many new retail buyers looking to get into crytpo by December 2017 that the main centralised exchanges were locking out new entrants because they lacked the capacity to cope with the influx. Shitcoins were pumping, almost daily.

To get to that point, there needs to be a vertical move on BTC. The difference this time is that retail has no interest in BTC above 60k. Look around this thread for example and see how few newbies hold any BTC.

None of the main alts look particularly undervalued to me. We're stuck in a bubble hoping to find someone dumb enough to buy our bags for a higher price than todays market value. I wont be shilling my bags to family over xmas, that's for sure.

 

[Evolved1]

A lot of it is drive on sentiment. If Amazon came out tomorrow and said we will be accepting Bitcoin as a form of payment you’d see a lot of fomo.

There Aren’t that many big non crypto companies who have bought BTC. Maybe a dozen. Still thousands globally that could buy 1-5% of their balance sheet worth that would send the price skyward

Can’t keep relying on Michael Saylor to buy all the dips lol

It's still a niche market, which I consider a good thing. The institutions that buy in are mostly run by people who are a little different, like Elon and Saylor. Whether that's a good sales pitch for more traditional institutions is debatable.

Saylor buys tops, not dips.

 

[The Dice Man]

This cycle is boring compared to the last one. There were so many new retail buyers looking to get into crytpo by December 2017 that the main centralised exchanges were locking out new entrants because they lacked the capacity to cope with the influx. Shitcoins were pumping, almost daily.

To get to that point, there needs to be a vertical move on BTC. The difference this time is that retail has no interest in BTC above 60k. Look around this thread for example and see how few newbies hold any BTC.

None of the main alts look particularly undervalued to me. We're stuck in a bubble hoping to find someone dumb enough to buy our bags for a higher price than todays market value. I wont be shilling my bags to family over xmas, that's for sure.

I think you make a lot of sense and don't disagree. Would I be correct in presuming there are many more coins on the market now compared to 4 years ago too? Therefore diluting the available capital across more 'projects'.

 

[Evolved1]

I think you make a lot of sense and don't disagree. Would I be correct in presuming there are many more coins on the market now compared to 4 years ago too? Therefore diluting the available capital across more 'projects'.

The total marketcap of crypto is much larger now, so there's more money to spread around the different coins. The most notable difference is the number of projects with legitimate usecases and the development of DeFi. Back then we assumed everything was a marketing scam, even worse than ADA is now.

Shitcoins would pump 100% in a day based on a bullshit partnership that later turned out to be fake or marketed to be something it wasn't. Think of the LTC/Walmart scam pump...those happened all the time.

 

[The Dice Man]

The total marketcap of crypto is much larger now, so there's more money to spread around the different coins. The most notable difference is the number of projects with legitimate usecases and the development of DeFi. Back then we assumed everything was a marketing scam, even worse than ADA is now.

Shitcoins would pump 100% in a day based on a bullshit partnership that later turned out to be fake or marketed to be something it wasn't. Think of the LTC/Walmart scam pump...those happened all the time.

Must have been great, but overall it's healthier that their are less of them... but less opportunities to make fast cash.

 

[moncon]

The thing about large institutions is they are 1/ bureaucratic, 2/ risk averse ("no-one ever got fired for buying IBM"), and 3/ suffer from herd mentality, and by that I mean they have to answer to shareholders who are themselves large institutions. On the other hand, I once worked for a very large bank that had a brain fade and threw a million dollars at two guys in the IT department to play around with Second Life, so you never know.

 

[Shupe]

Is MC worth just buying and holding or is it really worth to stake it? And can I stake just MC or will I need ETH as well for that?

I think this is going to come down to the size of your investment. I like the look of MC from the small amount of research I've done and have bought a small bag.

However I don't believe the multiple gas fees, lockup etc is worth the staking with the MC/ETH liquidity option. Not to mention impermanent loss etc (eg you need to be careful if MC goes up exponentially compared with ETH, which is likely, you will make somewhat of a loss).

I've decided to just buy and HODL. I've staked on Binance to avoid gas fees and it's just a 60 day staking. I'll get something at least.

 

[BACCS]

I think this is going to come down to the size of your investment. I like the look of MC from the small amount of research I've done and have bought a small bag.

However I don't believe the multiple gas fees, lockup etc is worth the staking with the MC/ETH liquidity option. Not to mention impermanent loss etc (eg you need to be careful if MC goes up exponentially compared with ETH, which is likely, you will make somewhat of a loss).

I've decided to just buy and HODL. I've staked on Binance to avoid gas fees and it's just a 60 day staking. I'll get something at least.

That impermanent loss if that scenario happens is well and truly covered by the rise in value of your MC though and selling at say a 10x. But yes, it’s something people need to understand about dual sided staking and that’s why APR is higher.

 

[BACCS]

So the CPI numbers were lower than expected, but there is a Fed meeting next week to discuss tapering inflation. CPI was still like a 40 year high though, so they’re going to need to taper it at some point.

 

[BACCS]

The question I'd like to see answered is who is left to buy our bags? For a parabolic run, you need a lot of dumb money FOMO'ing in at the top.

We saw that effect with DOGE already. Retail isn't interested in BTC at 60k+, so there's no fuel for a shitcoin season like eoy 2017.

The bullish scenario is that we have a higher macro top (65k vs 69k). If we have a macro lower high, there might be fuel for another pump over 70k. I think 100k BTC is out of reach for this cycle.

What are your thoughts on ETH leading an altcoin season in Q1 2022 as BTC crabs sideways? As you said, liquidity in BTC is at all time lows on exchanges, similar to ETH.

As we saw with AXS during the bearish May-July period, these metaverse/gaming coins can pump regardless of the wider market conditions. I am strong in my belief that these are the projects where plenty of money is still to be made, I just don't think they are neccessarily following the wider market and aren't as impacted by the macro factors (CPI/inflation tapering).

 

[BACCS]

Have decided to de-risk and move my portfolio into 25% stablecoins (for now). Basically, since I started back in May, that stablecoin portion of my portfolio has realised a 13% loss from my original positions in other coins, I'm happy to absorb that.

I have consolidated into the projects I'm most passionate about, ETH and MC. I was only ever in DOT, XRP etc for a quick buck, which I did make on a few of my trades (especially those bought during June/July). I needed to be more aggressive with my holdings back in October/November (especially ADA and DOT), but I got caught up in the hype and let those trades basically go to zero profit. These are major lessons for me. I'm sure some of this projects will recover a bit, but it's been too stressful for me lately and that's when I knew I needed to reduce exposure. The macro factors (CPI, tapering inflation etc) have definitely factored into my decision and the more I learn about these the more I become concerned about this market in the medium term (2-3 months).

I feel like a massive weight has been lifted off my shoulders, so I know this decision was the right one for me, regardless of whatever happens with DOT or XRP from here. The downside risk for the medium term outweighed any potential upside for me. I think ETH still has a 5k push left in it over the next few weeks (given the strength it's shown during this volatile period) and will then sell half of my stack, with the other half to stay as liquidity in the MC/ETH staking pool.

 

[Evolved1]

What are your thoughts on ETH leading an altcoin season in Q1 2022 as BTC crabs sideways? As you said, liquidity in BTC is at all time lows on exchanges, similar to ETH.

As we saw with AXS during the bearish May-July period, these metaverse/gaming coins can pump regardless of the wider market conditions. I am strong in my belief that these are the projects where plenty of money is still to be made, I just don't think they are neccessarily following the wider market and aren't as impacted by the macro factors (CPI/inflation tapering).

Crypto is a game of musical chairs. The narrative shifted to metaverse and gaming quickly, but can shift to something else equally quick. We've had other runs in meme coins, NFT's, SOL, and dinosaur coins like XRP, NEO, LTC.

Finding where the narrative moves next is the key to making wealth. It's not a strength of mine, so I look to others who know which train to jump on next. What I do know is that the end of the line is with dino coin pumps. If the old shit is pumping, get ready for a dump.

I'm feeling unsure about market conditions for next year. We've already had an 18 month plus bull run, so I'm open to anything from here.

Do you see ETH leading the charge?

 

[BACCS]

Crypto is a game of musical chairs. The narrative shifted to metaverse and gaming quickly, but can shift to something else equally quick. We've had other runs in meme coins, NFT's, SOL, and dinosaur coins like XRP, NEO, LTC.

Finding where the narrative moves next is the key to making wealth. It's not a strength of mine, so I look to others who know which train to jump on next. What I do know is that the end of the line is with dino coin pumps. If the old sh*t is pumping, get ready for a dump.

I'm feeling unsure about market conditions for next year. We've already had an 18 month plus bull run, so I'm open to anything from here.

Do you see ETH leading the charge?

I find the metaverse and gaming very different to any other type of project that has come before it in crypto. AXS pumping during June/July while the market was crabbing sideways and still 50% down from ATHs showed me that these projects run their own race. They are actually practical (can play a game) and easy to understand for the average person looking into crypto. I honestly think these projects will run in their own cycles separate to the wider market, this is what takes crypto properly mainstream and to a far larger audience.

I can see ETH leading the charge, especially since a lot of the major metaverse/gaming projects are built on their network. BTC might remain number 1 for the short to medium term, but ETH overtaking is only a matter of time in my opinion, it just has far more practicality that is easy to understand for the average retail investor.

 

[Evolved1]

I find the metaverse and gaming very different to any other type of project that has come before it in crypto. AXS pumping during June/July while the market was crabbing sideways and still 50% down from ATHs showed me that these projects run their own race. They are actually practical (can play a game) and easy to understand for the average person looking into crypto. I honestly think these projects will run in their own cycles separate to the wider market, this is what takes crypto properly mainstream and to a far larger audience.

I can see ETH leading the charge, especially since a lot of the major metaverse/gaming projects are built on their network. BTC might remain number 1 for the short to medium term, but ETH overtaking is only a matter of time in my opinion, it just has far more practicality that is easy to understand for the average retail investor.

That's an interesting view.

Probably for the first time, I can see ETH potentially going past BTC, especially if the bull run lasts. Whether that lead will hold through a bear market is a different question altogether. BTC maxis are nuts, much like religious fundamentalists. They won't sell; I'm not sure you could say the same for ETH maxis or shitcoin moonbois.

High fees will put a ceiling on any project. I can see SOL eventually moving past ETH if the fee issue isn't fixed.

 

[LongBombFromOutside50]

I find the metaverse and gaming very different to any other type of project that has come before it in crypto. AXS pumping during June/July while the market was crabbing sideways and still 50% down from ATHs showed me that these projects run their own race. They are actually practical (can play a game) and easy to understand for the average person looking into crypto. I honestly think these projects will run in their own cycles separate to the wider market, this is what takes crypto properly mainstream and to a far larger audience.

I can see ETH leading the charge, especially since a lot of the major metaverse/gaming projects are built on their network. BTC might remain number 1 for the short to medium term, but ETH overtaking is only a matter of time in my opinion, it just has far more practicality that is easy to understand for the average retail investor.

You make some good points, but I highly doubt that Eth flips Btc, as much as Eth maxis like to believe it will happen.
Eth has so much competition, Btc has none. Also as the Eth price goes up, it becomes more unusable.
In fact I'll go out on a limb and say that Eth won't reach it's ATH vs bitcoin again (~0.156)

 

[Ghost Patrol]

Interesting IDO on Terra. WhiteWhale Protocol.

WhiteWhale Protocol

Solving the fractured liquidity and unstable pricing problem by connecting liquidity across the Cosmos ecosystem.

whitewhale.money

They have let this go into price discovery for the IDO - it started at $1, currently at 19c. Price will keep going up/down depending on demand.

Doesn't look like whales have bought in yet, the price will shoot back up when big buys start coming in. Not sure how much lower it will get.

 

[The Dice Man]

Interesting IDO on Terra. WhiteWhale Protocol.

WhiteWhale Protocol

Solving the fractured liquidity and unstable pricing problem by connecting liquidity across the Cosmos ecosystem.

whitewhale.money

They have let this go into price discovery for the IDO - it started at $1, currently at 19c. Price will keep going up/down depending on demand.

Doesn't look like whales have bought in yet, the price will shoot back up when big buys start coming in. Not sure how much lower it will get.

I don't get the disclaimer on the Bootswap site...

"This is not a token sale. None of the proceeds from this event will go to the team or developing entities of White Whale. All of the proceeds from this event will be deposited into the protocol owned treasury and owned by the WHALE community. Investing in cryptocurrency is risky, use caution and invest at your own risk."

If it's not a token sale, then what is it and where does the money go? Im interested as my Luna is sitting doing nothing but bleeding at the moment.

 

[Ghost Patrol]

I don't get the disclaimer on the Bootswap site...

"This is not a token sale. None of the proceeds from this event will go to the team or developing entities of White Whale. All of the proceeds from this event will be deposited into the protocol owned treasury and owned by the WHALE community. Investing in cryptocurrency is risky, use caution and invest at your own risk."

If it's not a token sale, then what is it and where does the money go? Im interested as my Luna is sitting doing nothing but bleeding at the moment.

Yeah, it's a weird disclaimer, possibly lost in translation or technical definition. But if you look on twitter it has the support of Do Kwon https://twitter.com/WhiteWhaleTerra

Do you have your Luna stored on Terra Station? You can stake on there, or via other related entities - I have a heap of mine staked with Stader Labs liquid staking.

 

[The Dice Man]

Yeah, it's a weird disclaimer, possibly lost in translation or technical definition. But if you look on twitter it has the support of Do Kwon https://twitter.com/WhiteWhaleTerra

Do you have your Luna stored on Terra Station? You can stake on there, or via other related entities - I have a heap of mine staked with Stader Labs liquid staking.

Nah it's just sitting on Binance doing nothing. Stupid I know. I almost swapped some for Kujira after Ran on cryptobanter shilled it, but Ive seen enough coins on there pump and slowly bleed back down. I like the project and the price is back below where they started talking about it.

Did you buy whitewale?

 

[Ghost Patrol]

Nah it's just sitting on Binance doing nothing. Stupid I know. I almost swapped some for Kujira after Ran on cryptobanter shilled it, but Ive seen enough coins on there pump and slowly bleed back down. I like the project and the price is back below where they started talking about it.

Did you buy whitewale?

Yeah, small amount. I started DCA in at 20c, 19c, 18c. Requires Terra Station and some UST (which you can swap Luna for on Terra Station)

Looks like Binance has staking for Luna with good APY (google suggests up to 25%) That would be the easiest option if you wanted to do something with it.

 

[The Dice Man]

Yeah, small amount. I started DCA in at 20c, 19c, 18c. Requires Terra Station and some UST (which you can swap Luna for on Terra Station)

Looks like Binance has staking for Luna with good APY (google suggests up to 25%) That would be the easiest option if you wanted to do something with it.

I'll look at doing something with it after the F1 finishes. Where do you think Whitewhale could go?

 

[BigBirdz]

What do you guys reckon Bitcoins price will be in 10 years 200k? 1mil?
I'm looking into investing $200 a week of my PTY LTD companies money into an index fund, or.....
Maybe I should just put that 200 into BTC each week and play the long game.
With the amount of money that's printed these days I can only see BTC going up.
Any thoughts?
Thanks.

 

[Ghost Patrol]

I'll look at doing something with it after the F1 finishes. Where do you think Whitewhale could go?

I have no idea where it could go! Very unique use case apparently, they won a couple of startup prizes earlier this year for it.

Looks like they have future plans to support Solana and Cosmos chains as well. I'll probably hold these long term if that's the case.
Most Terra projects seem to go well.

 

[Ghost Patrol]

Volume coming in to WhiteWhale, now at 28c

 

[BACCS]

You make some good points, but I highly doubt that Eth flips Btc, as much as Eth maxis like to believe it will happen.
Eth has so much competition, Btc has none. Also as the Eth price goes up, it becomes more unusable.
In fact I'll go out on a limb and say that Eth won't reach it's ATH vs bitcoin again (~0.156)

That’s definitely going out on a limb, given it just made a new high for this cycle in the last week. ETH doesn’t become any less useable as price goes up, gas fees aren’t correlated to price.