Cryptocurrency mega-thread

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ash_1050 said:
The BTC price is the only price you'll see in mainstream media as well. BTC falls x% or BTC hits $X is a headline that no other coin gets.

NFTs are getting some headlines as well, but more 'lol look how people are manipulating the price of NFTs to lure in suckers' or 'This guy made $300k of selling NFTs containing nothing but pictures of his taint'
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Yeah agree... Or unless it's a hack like crypto.com today. That makes mainstream news, as you posted above. Check the thread on the AFL board about the sponsorship, it's a good little reflection of general sentiment. Crypto's a scam, a ponzi (well yeah in some cases for sure), ect.

Widespread adoption and mainstream education is probably needed to see another big boom. But while old-money like the Murdochs and banks run the press, it's hard to see much wider, positive mainstream media coverage outside of BTC, or hacks or as you said, NFT/money laundering/dark web s**t.
 
The Dice Man said:
Yeah agree... Or unless it's a hack like crypto.com today. That makes mainstream news, as you posted above. Check the thread on the AFL board about the sponsorship, it's a good little reflection of general sentiment. Crypto's a scam, a ponzi (well yeah in some cases for sure), ect.

Widespread adoption and mainstream education is probably needed to see another big boom. But while old-money like the Murdochs and banks run the press, it's hard to see much wider, positive mainstream media coverage outside of BTC, or hacks or as you said, NFT/money laundering/dark web sh*t.
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I'm happy for the widespread adoption to wait as long as possible, the majority of smart money is already here and at the end of the day they control the markets. Widespread adoption will just dilute the gains from the market in general, even the lower caps.

There is still a lot of money to be made in lower cap alts until widespread adoption happens, as long as you are willing to put the research in and have patience (i.e. timeframes longer than the 1 minute chart).
 

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bzparkes said:
Haha yea, just shows how out of touch people are/how early crypto is for people to have opinions still rooted in 2012 about it being solely for buying weed/child sex slaves...
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I thought it had developed past that point for most people. There are still plenty of scams in crypto, but there also still plenty of scams in the traditional system as well.
 
The Dice Man said:
Just in the chats I read, no-one ever talks about buying BTC.. It's all NFT's, the next Gaming project, next metaverse, LP farming/APR chasing, next 3 or 4 or 5 or 6X coin that's gonna pump.. And some do, and inevitably fall back down 50% or more.

This could also be a reflection on the projects I follow. BTC pumped 100% in a few months in the second half of 2021. Meanwhile Luna did a 20X, SOL the same(or more) AVAX ect.. FTM was a 14,000% for the year.

BTC is resented by retail, and it's interest only lies in the control it has over the market.
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I can't see why retail should resent BTC given that BTC halving cycles lead to altcoin pumps. It's a strange take in my opinion.
 
Evolved1 said:
I can't see why retail should resent BTC given that BTC halving cycles lead to altcoin pumps. It's a strange take in my opinion.
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I'm saying that cycle may be over, or using the past cycles isn't a great indicator of the present or future. I'm still very new to this space and am in no way any good at TA or finance in general, so could be way off, it's more... the vibe. Maybe using resent is the wrong word, but everyone who holds ALTS does resent BTC when it dumps taking their coins along with it, and even further.

For those who've been in the game a long time, is this cycle playing out as the past? There's plenty of alternative sub-genres in crypto that weren't there 4 years ago.
 
The Dice Man said:
I'm saying that cycle may be over, or using the past cycles isn't a great indicator of the present or future. I'm still very new to this space and am in no way any good at TA or finance in general, so could be way off, it's more... the vibe. Maybe using resent is the wrong word, but everyone who holds ALTS does resent BTC when it dumps taking their coins along with it, and even further.

For those who've been in the game a long time, is this cycle playing out as the past? There's plenty of alternative sub-genres in crypto that weren't there 4 years ago.
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I see no reason to think past cycles aren't a good indicator for the future. A healthy BTC and BTC.D leads to ETH and shitcoin pumps. When BTC is weak, alts dump harder because they have less liquidity.

The way I view the market is that alts have a loose chain to BTC. BTC pumps, there's a lag, ETH pumps, then shitcoins pump harder. The reverse is also true. I SMH at those who blame BTC for their shitcoin dumping when they didn't recognise the reason for its pump in the first place.

There's greater innovation in this cycle, but there will also be greater innovation in the next cycle too. The alts you love now will face greater competition in a few years time.

BTC is the one major coin facing less competition than the previous cycle. Have you heard of BCH?
 
Evolved1 said:
I see no reason to think past cycles aren't a good indicator for the future. A healthy BTC and BTC.D leads to ETH and shitcoin pumps. When BTC is weak, alts dump harder because they have less liquidity.

The way I view the market is that alts have a loose chain to BTC. BTC pumps, there's a lag, ETH pumps, then shitcoins pump harder. The reverse is also true. I SMH at those who blame BTC for their shitcoin dumping when they didn't recognise the reason for its pump in the first place.

There's greater innovation in this cycle, but there will also be greater innovation in the next cycle too. The alts you love now will face greater competition in a few years time.

BTC is the one major coin facing less competition than the previous cycle. Have you heard of BCH?
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Bitcoin Cash? I know of it and remember it pumped hard last year and people were joking that people must be buying the wrong coin by mistake, but I know nothing about it or it's purpose.
 
The Dice Man said:
Bitcoin Cash? I know of it and remember it pumped hard last year and people were joking that people must be buying the wrong coin by mistake, but I know nothing about it or it's purpose.
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BCH was a fork of BTC that was expected to compete closely against it. From memory, BCH hit close to $5000 at its peak in 2017.

There hasn't been any new competition for BTC in this run while ETH has a lot of new competitors.
 

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BACCS said:
Oh wowsers, you think the main board thread is bad, have a read of the thread on the Crows board :eek:
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It's the same on the Eagles board.

What gets me is people complaining about the 'environmental impact' of crypto, yet happily admit to investing into mining companies and rare earths ffs.

Some guy was banging on about how much more proper investing into lithium was over crypto and how BTC is bad for the environment...
 
bzparkes said:
It's the same on the Eagles board.

What gets me is people complaining about the 'environmental impact' of crypto, yet happily admit to investing into mining companies and rare earths ffs.

Some guy was banging on about how much more proper investing into lithium was over crypto and how BTC is bad for the environment...
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I'm trying to point one particular poster to the main board thread as you've articulated points far better than me, but they seem to prefer making the same points over and over on our board.

What gets me is people questioning the ethics of this sponsorship, but have zero objections to big corporates like Maccas sponsoring the league.
 
BACCS said:
I'm trying to point one particular poster to the main board thread as you've articulated points far better than me, but they seem to prefer making the same points over and over on our board.

What gets me is people questioning the ethics of this sponsorship, but have zero objections to big corporates like Maccas sponsoring the league.
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People prefer to stick their fingers in their ears and believe what they want. Some people find it frightening to have their perception of the world challenged and proven wrong.

My mum for instance was shocked when I told her I was into crypto. I got my brother into it recently and he's gone from "yeah, I'll look into it" to "how do I become a full-time trader?" in the past 3 months lol.

I think most of the resistance comes from older generations, especially baby boomers. Many in their generation got to live such a comfortable life that they didn't need to take too many risks to get ahead financially. Just look at all those people who worked in the same job for 40+ years, own a big house, large families, etc.

Younger generations these days need to take more risks to get ahead financially be it investing, career changes, pushing for promotions, studying whilst working full-time, moving interstate/to another country and so forth. We're more open to crypto as an investment opportunity because whilst the risks are higher than traditional investing, so are the gains.
 
bzparkes said:
People prefer to stick their fingers in their ears and believe what they want. Some people find it frightening to have their perception of the world challenged and proven wrong.

My mum for instance was shocked when I told her I was into crypto. I got my brother into it recently and he's gone from "yeah, I'll look into it" to "how do I become a full-time trader?" in the past 3 months lol.

I think most of the resistance comes from older generations, especially baby boomers. Many in their generation got to live such a comfortable life that they didn't need to take too many risks to get ahead financially. Just look at all those people who worked in the same job for 40+ years, own a big house, large families, etc.

Younger generations these days need to take more risks to get ahead financially be it investing, career changes, pushing for promotions, studying whilst working full-time, moving interstate/to another country and so forth. We're more open to crypto as an investment opportunity because whilst the risks are higher than traditional investing, so are the gains.
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Housing prices in SA have risen by 30% in just the last 12 months alone, yet people refuse to challenge their view on TradFi, it's honestly just sad. I had a read of the debates on the Eagles board and it gave me a very good laugh, thanks for letting me know haha.
 
BACCS said:
Housing prices in SA have risen by 30% in just the last 12 months alone, yet people refuse to challenge their view on TradFi, it's honestly just sad. I had a read of the debates on the Eagles board and it gave me a very good laugh, thanks for letting me know haha.
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Yeah it's crazy. People are getting priced out of the housing market yet are too afraid to take an educated risk to learn how to grow their wealth. You can mitigate most of the risks by properly learning and understanding what you're doing, provided you're prepared to take some losses as lessons along the way.

I was fully prepared to lose $5k when I started in investing (CFDs, shares and crypto), which I considered the education fee. As it stands, I was around 4x up at one stage (from an initial investment of around $10k) but didn't take profits when I should've on certain projects. As it stands I'm still around $10k up anyway, even with the recent dump, so I'm pretty happy that I'm $15k better off than I expected from when I initially started.

Now that I'm more comfortable with what I'm doing, I'm prepared to be patient and pick projects which I think could have massive long-term potential. I've tried pretty much everything and settled as that on my strategy. I like day-trading because it's exciting but really, I'm too lazy to constantly look at charts and analyse and I don't really care too much about market volatility if I believe a project has enough potential to go really big.

Once the market turns again and big gains are on the horizon, I'll probably start looking at bigger cap, established projects around the 1-5bn MC that have the potential to5x or 10x over the next 12-18 months and spin some money in there to lower my risk.
 
Gigantic said:
The boomers had to learn about the internet, I don't get how crypto and web 3 is so hard to understand for some, lol.

Then again, I guess most still don't understand how the internet works...
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Boomers get their tech education mostly from Facebook.

I always find it ironic that people who espouse the dangers of new technology and scams on the internet are all too happy to freely give away their personal info to Facebook...
 
Gigantic said:
The boomers had to learn about the internet, I don't get how crypto and web 3 is so hard to understand for some, lol.

Then again, I guess most still don't understand how the internet works...
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A non-boomer on the Crows board has reservations about crypto, but at least goes beyond saying it's a scam. The points they make are constructive, but they are also extremely misinformed. I think it takes at least another decade to capture people like this into the crypto market, they are just too set in their beliefs.
 
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