Cryptocurrency mega-thread

[BobbyMorri]

I know someone who bought a bored ape early on for a couple k's. I doubt they regret their decision.

I doubt the seller of this punk regrets their decision either.

What happens if the "seller" and the "buyer" was the same person. Or company. you get my drift.

I dont have any evidence, but neither do you have any evidence to say I am wrong. and importantly, there is no regulation to prevent this from happening.

The fact that he sold an ape for 3 mil and then brought another ape for 3.3 mil within 4 days is not unusual at all. Nothing to see here

 

[Evolved1]

What happens if the "seller" and the "buyer" was the same person. Or company. you get my drift.

I dont have any evidence, but neither do you have any evidence to say I am wrong. and importantly, there is no regulation to prevent this from happening.

The fact that he sold an ape for 3 mil and then brought another ape for 3.3 mil within 4 days is not unusual at all. Nothing to see here

It happens a lot, agreed.

 

[Chief]

What happens if the "seller" and the "buyer" was the same person. Or company. you get my drift.

I dont have any evidence,

Plenty of people have checked the records to find these sorts of transactions. NFT gets "sold" multiple times at increasing prices until a sucker is found.

 

[Evolved1]

Plenty of people have checked the records to find these sorts of transactions. NFT gets "sold" multiple times at increasing prices until a sucker is found.

It's all part of the game. Most of us who've been in crypto for awhile are happy to navigate the minefields to find gold. It's a high risk/ high reward asset class.

There are plenty of scams, insider trading, wash trading, etc. Nobody will argue with you there.

The pertinent question is whether the users want more regulation. I hesitantly say yes with respect to stablecoins and exchanges. For the most part, regulation will only serve to kill this cash cow.

 

[Kram]

It's a large part of the overall financial landscape because crypto has been accepted as legitimate by the public, business world, and regulators.

I've been all in on crypto a couple times, and will hopefully go all in again within the next two years.

Am I insane? Don't answer that.

I hope you are joking mate. This isn't even about whether you believe in crypto or not but purely from a risk management perspective, going all in on anything is crazy let alone something so volatile and and basically speculative.

Haha honestly this is also coming from someone that takes far, far more risks than I dare say most people do as well.

 

[ash_1050]

I hope you are joking mate. This isn't even about whether you believe in crypto or not but purely from a risk management perspective, going all in on anything is crazy let alone something so volatile and and basically speculative.

Haha honestly this is also coming from someone that takes far, far more risks than I dare say most people do as well.

I disagree on this, if you've got the risk appetite and risk tolerance, and you're prepared to wear the consequences of it not working out, then go for it. I've got 98% of my accessible wealth currently tied up in a single ASX listed biotech stock. If it goes well in the next 2-3 years then I can comfortably retire in my mid 30s, if it turns out to be a bad investment then I'm not that much worse off having to work a couple extra years to make up for the lost cash. If you're someone who's willing to take that risk then go for gold, however you need to be prepared to accept the outcome for doing so whether it's good, bad, or indifferent.

With that said there's a couple of caveats to taking this approach. I'm single, no kids, and no ongoing financial commitments. If you're financially responsible for others, or have large ongoing financial responsibilities of your own then this is a poor strategy.

 

[Evolved1]

I hope you are joking mate. This isn't even about whether you believe in crypto or not but purely from a risk management perspective, going all in on anything is crazy let alone something so volatile and and basically speculative.

Haha honestly this is also coming from someone that takes far, far more risks than I dare say most people do as well.

Nope, not joking at all. I sold two investment properties early in 2020 and invested the entire profit into crypto. If anything, I'm kicking myself for not playing at a higher risk level during opportune times in this market cycle.

My home is paid off and I have stable employment, so I'm theoretically playing with money I can afford to lose.

Bitcoin is a high conviction long term play for me. At $20k USD, I believe it's undervalued.

My current asset allocation is heavily weighted in shares over crypto, but I'll look to shift the balance heavily towards crypto close to the next halving. I don't recommend others go all in on crypto, but suspect I probably will at some stage again. If prices go low enough, I have a couple of cars that I can do without.

Take a look at price vs halving date marked by yellow lines (note the y-axis is logarithmic). There's sufficient history to suggest we have more juice in the tank come 2024.

 

[dustysnecktattoo]

I know someone who bought a bored ape early on for a couple k's. I doubt they regret their decision.

I doubt the seller of this punk regrets their decision either.

The buyer of that punk is a moron imo…. But even though that’s my opinion well done to the kids making those millions for nothing

 

[Evolved1]

The buyer of that punk is a moron imo…. But even though that’s my opinion well done to the kids making those millions for nothing

Selling an asset above purchase price is the end game for most of us.

Would you prefer to be right or make money?

 

[Angus Young]

Nope, not joking at all. I sold two investment properties early in 2020 and invested the entire profit into crypto. If anything, I'm kicking myself for not playing at a higher risk level during opportune times in this market cycle.

My home is paid off and I have stable employment, so I'm theoretically playing with money I can afford to lose.

Bitcoin is a high conviction long term play for me. At $20k USD, I believe it's undervalued.

My current asset allocation is heavily weighted in shares over crypto, but I'll look to shift the balance heavily towards crypto close to the next halving. I don't recommend others go all in on crypto, but suspect I probably will at some stage again. If prices go low enough, I have a couple of cars that I can do without.

Take a look at price vs halving date marked by yellow lines (note the y-axis is logarithmic). There's sufficient history to suggest we have more juice in the tank come 2024.

crazy mother****er... but I expect it to pay off down the road. very nice.

 

[dustysnecktattoo]

Are the people succeeding with NFT’s just the people who already had a crypto following on Twitter or are random unknown people getting wealth from it to?

 

[LongBombFromOutside50]

Nope, not joking at all. I sold two investment properties early in 2020 and invested the entire profit into crypto. If anything, I'm kicking myself for not playing at a higher risk level during opportune times in this market cycle.

My home is paid off and I have stable employment, so I'm theoretically playing with money I can afford to lose.

Bitcoin is a high conviction long term play for me. At $20k USD, I believe it's undervalued.

My current asset allocation is heavily weighted in shares over crypto, but I'll look to shift the balance heavily towards crypto close to the next halving. I don't recommend others go all in on crypto, but suspect I probably will at some stage again. If prices go low enough, I have a couple of cars that I can do without.

Take a look at price vs halving date marked by yellow lines (note the y-axis is logarithmic). There's sufficient history to suggest we have more juice in the tank come 2024.

There's definitely more juice in the tank in 2024. You would know this, being a crypto OG. Most OGs are familiar with the 4 year cycle.

Also interestingly, SOL (one of the best performing projects in the last cycle), strategically launched a month or two before the halving. I'll be keeping my eye out for other projects launched at a similar time (1-2 months before the bitcoin halving) with backing from the right people. From there it's a matter of diamond handing throughout the bull run, and front-running the sell-off as best as you can.

 

[The Dice Man]

Back to 24k, if you invested just 4 weeks ago, you'd be up almost 40%. We going straight to 28k or a retest of 22k?

 

[moncon]

Back to 24k, if you invested just 4 weeks ago, you'd be up almost 40%. We going straight to 28k or a retest of 22k?

and ETH up 50% in just over a week/10 days. Too bad I'm not a trader lol.

 

[FRUMPY]

Back to 24k, if you invested just 4 weeks ago, you'd be up almost 40%. We going straight to 28k or a retest of 22k?

I was looking at selling at a loss and getting back in, the way its yo-yo'd i could have made the losses up by now i reckon.

 

[LongBombFromOutside50]

Back to 24k, if you invested just 4 weeks ago, you'd be up almost 40%. We going straight to 28k or a retest of 22k?

I mentioned a week ago that I was long btc. I've already closed my long position. Possible that I closed it too early but oh well, profit is profit.
I fully expect all these moves over the past month to be retraced, and for most alts to make lower lows than what they did originally some time within the next 6 - 9 months.

 

[Chief]

It's all a bit of a ...

 

[The Dice Man]

I mentioned a week ago that I was long btc. I've already closed my long position. Possible that I closed it too early but oh well, profit is profit.
I fully expect all these moves over the past month to be retraced, and for most alts to make lower lows than what they did originally some time within the next 6 - 9 months.

Yep I remember you posting that, and I kind of agree that we might see lower lows, especially for Alts. But it's just a reminder that when crypto moves, it moves fast. Up or down.

 

[Evolved1]

There's definitely more juice in the tank in 2024. You would know this, being a crypto OG. Most OGs are familiar with the 4 year cycle.

Also interestingly, SOL (one of the best performing projects in the last cycle), strategically launched a month or two before the halving. I'll be keeping my eye out for other projects launched at a similar time (1-2 months before the bitcoin halving) with backing from the right people. From there it's a matter of diamond handing throughout the bull run, and front-running the sell-off as best as you can.

You did extremely well with SOL. Let me know what you're buying next round because I want in!

Where do you see SOL in 3 years time? Will it challenge ETH or will it be another failed challenger like ICX, VET, NEO?

 

[Evolved1]

I mentioned a week ago that I was long btc. I've already closed my long position. Possible that I closed it too early but oh well, profit is profit.
I fully expect all these moves over the past month to be retraced, and for most alts to make lower lows than what they did originally some time within the next 6 - 9 months.

FOMC meeting next week will be telling.

 

[LongBombFromOutside50]

You did extremely well with SOL. Let me know what you're buying next round because I want in!

Where do you see SOL in 3 years time? Will it challenge ETH or will it be another failed challenger like ICX, VET, NEO?

I think so.
Kind of boils down to whether or not you believe their overload issues are fixable by the team and community. I do, but a bunch of others don't. We'll have to wait and see.

Whoever is right and puts their money on is gonna print $$

 

[nobbyiscool]

Hi all, I’m hoping for some help.

Cos of the Australian government ban on OS poker sites, I’m looking at using a VPN + crypto.

I don’t mind doing some reading, I just need someone to point me in the right direction in finding the easiest wallet + exchange for both deposits & withdrawals.

I’ve no interest in trading, I’ve no interest in alternative crypto currencies - I just need to be able to buy & sell Bitcoin quickly.

 

[BACCS]

FOMC meeting next week will be telling.

I think September is the meeting to watch out for, that's where we could see a major pivot either direction, pending on the stance of the Fed by then. If you look deeper into the inflation numbers, you can see some industries are starting to come down, but we need more data to confirm. Next week will be pretty bland I reckon, I doubt we hear anything new and isn't already priced in.

 

[WaywardSonSon]

Hi all, I’m hoping for some help.

Cos of the Australian government ban on OS poker sites, I’m looking at using a VPN + crypto.

I don’t mind doing some reading, I just need someone to point me in the right direction in finding the easiest wallet + exchange for both deposits & withdrawals.

I’ve no interest in trading, I’ve no interest in alternative crypto currencies - I just need to be able to buy & sell Bitcoin quickly.

I'm not sure what your plans are, but I trade on btcmarkets.net. They're based in Richmond and have been fantastic for me.

 

[WaywardSonSon]

To all the naysayers. Still here. Still worth over $30 000 AUD.