Cryptocurrency mega-thread

[ash_1050]

Have any of you invested in any AI-related cryptos? I'm considering dipping my toes into Ocean Protocol, as I'm always an advocate for De-fi exchanges.

Seems like people are combining two buzzwords to create hype in shitcoins.

I'd be incredibly skeptical, as I was with NFTs.

 

[WaywardSonSon]

Yesterday afternoon/night was an amazing time to be scooping things up!

 

[WaywardSonSon]

Seems like people are combining two buzzwords to create hype in shitcoins.

I'd be incredibly skeptical, as I was with NFTs.

Is there anything you're not skeptical about?

 

[beez]

Fascinating what's going on with USDC.

Hope someone makes an in-depth doco in the next few years called The Stable Wars.

 

[Zevon]

Fascinating what's going on with USDC.

Hope someone makes an in-depth doco in the next few years called The Stable Wars.

It is fascinating. Out of USDC and USDT I always thought USDC was the more stable/reliable of the two

 

[Bostonian]

Have any of you invested in any AI-related cryptos? I'm considering dipping my toes into Ocean Protocol, as I'm always an advocate for De-fi exchanges.

Yes, I've been accumulating AGIX for quite a while now, hold quite a large amount of it just as a purely long term speculative thing.

Go onto it really because of Ben Goertzel who Joe Rogan had on his podcast 4 years ago.

I got onto ETH way before it hit its ATH thanks to him too. This video was late 2018.

​

 

[burge13]

Is there anything you're not skeptical about?

It pays to be sceptical when there's so many scams and rug pulls and the markets across the board struggling...

 

[evolved2]

It pays to be sceptical when there's so many scams and rug pulls and the markets across the board struggling...

You can be skeptical and still play the game. Many AI tokens did 500%+ gains this year.

 

[burge13]

You can be skeptical and still play the game. Many AI tokens did 500%+ gains this year.

Im not against a gamble in it but its just that and recognising 90% of it is a ponzi will help lock in profits. I just dont have time to follow it close enough anymore tbh.

Get on a hype train and momentum trade it would be my go

 

[evolved2]

It is fascinating. Out of USDC and USDT I always thought USDC was the more stable/reliable of the two

They probably were until Silicon Valley bank collapsed.

 

[evolved2]

Im not against a gamble in it but its just that and recognising 90% of it is a ponzi will help lock in profits. I just dont have time to follow it close enough anymore tbh.

Get on a hype train and momentum trade it would be my go

I know what you mean. I'm usually in and out quick when playing narratives, but I'm still kicking myself for missing the entire NFT train given most of my crypto friends were early in BAYC. Sliding doors moment there.

 

[Zevon]

They probably were until Silicon Valley bank collapsed.

Agreed, it was less a vulnerability in the coin itself and more a good old fashioned bank failure.

 

[BACCS]

Agreed, it was less a vulnerability in the coin itself and more a good old fashioned bank failure.

I find it hard to see the Fed hiking rates more than 25bps next meeting and markets are now pricing in a cut towards the end of Q4. Employment market starting to feel the pinch in the US too based off the last data release earlier this week.

On USDC, I would expect it to regain the peg once banks open in the US on Monday. This announcement from Circle this morning was reassuring:
An Update on USDC and Silicon Valley Bank

 

[BACCS]

They probably were until Silicon Valley bank collapsed.

Even then, their exposure will likely be quite minimal once everything plays out (even if SIVB is not bailed out, they will still recover some of their cash eventually and can liquidate short term treasuries they own via Blackrock). De-pegging to less than 90c was just panic before all of the information became available.

 

[evolved2]

I've been accumulating this one.

 

[beez]

Man, I love FinTwit. So many bros on there with their hot takes that are both informative to a layman like me and also downright delusional with the constant criticism of government entities.

And I do love the irony of more government intervention = higher bitcoin prices. Nice little (quite bit actually) pump.

I wonder whether this marks the Fed pause (coz there's much fragility in the system at the moment) or whether we'll see 1 or 2 more hikes in a few months and another leg down?

 

[Bostonian]

I've been accumulating this one.

View attachment 1628560

I've been accumulating JOE.

Been working a lot on accumulating projects that are in that 10-40 cent range with the view they can get back to $1 easily enough in a strong market going by previous ATH.

 

[WaywardSonSon]

I've been accumulating this one.

View attachment 1628560

I've been accumulating HEX. I got in before the fork and am eagerly awaiting the Mainnet release of Pulse Chain.

 

[BACCS]

Man, I love FinTwit. So many bros on there with their hot takes that are both informative to a layman like me and also downright delusional with the constant criticism of government entities.

And I do love the irony of more government intervention = higher bitcoin prices. Nice little (quite bit actually) pump.

I wonder whether this marks the Fed pause (coz there's much fragility in the system at the moment) or whether we'll see 1 or 2 more hikes in a few months and another leg down?

Futures are now predicting a rate hike by Q4 this year, instead of 2024. The predicted terminal rate has been as high as 5.75%, but is now ~5%.

 

[beez]

Futures are now predicting a rate hike by Q4 this year, instead of 2024. The predicted terminal rate has been as high as 5.75%, but is now ~5%.

And they are consistently wrong. Just like Fed predictions.

That's why it is so interesting. Who would have predicted this a week ago? Who would have predicted the 2yr yield to collapse so dramatically? While markets are trying to front-run the Fed, they are at the same time wrong time after time after time.

I don't think stagflation has really been on the cards because, since 2008, the capacity of the Fed to inject liquidity when needed has always been there, but maybe we will see a stagflationary environment for the next 2-3 years. But then again, as Andrew Sorkin said yesterday, what is happening to the smaller banks might very well be disinflationary and the markets will again be off to the races in a couple of months

 

[BACCS]

And they are consistently wrong. Just like Fed predictions.

That's why it is so interesting. Who would have predicted this a week ago? Who would have predicted the 2yr yield to collapse so dramatically? While markets are trying to front-run the Fed, they are at the same time wrong time after time after time.

I don't think stagflation has really been on the cards because, since 2008, the capacity of the Fed to inject liquidity when needed has always been there, but maybe we will see a stagflationary environment for the next 2-3 years. But then again, as Andrew Sorkin said yesterday, what is happening to the smaller banks might very well be disinflationary and the markets will again be off to the races in a couple of months

Basically, prices up or down . CPI numbers tomorrow will be very interesting…

 

[burge13]

I've been accumulating JOE.

Been working a lot on accumulating projects that are in that 10-40 cent range with the view they can get back to $1 easily enough in a strong market going by previous ATH.

Says alot about crypto investment here

 

[Bostonian]

Says alot about crypto investment here

Oh dear.

You just admitted you've never heard of penny stocks.

Ooops!

 

[burge13]

Oh dear.

You just admitted you've never heard of penny stocks.

Ooops!

Wrong but keep digging

Market cap matters, not the price.

 

[Bostonian]

Wrong but keep digging

Market cap matters, not the price.

No I'm right.

You have no idea what the market cap is about the projects I was referring too.

Of course the price does matter. I mean isn't that why you set an entry point on something? Based on a price?