Cryptocurrency - Bitcoin Continues to Soar!

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decapod10
Posts: 1154
Joined: Thu Dec 28, 2017 6:46 pm

Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by decapod10 »

VISA processed it's first transaction on USDC/ETH today. I'm not certain what the situation was where this would be needed, but I suppose it's a sign continued mainstream adoption.
SlowMovingInvestor
Posts: 2780
Joined: Sun Sep 11, 2016 11:27 am

Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by SlowMovingInvestor »

decapod10 wrote: Mon Mar 29, 2021 12:29 pm VISA processed it's first transaction on USDC/ETH today. I'm not certain what the situation was where this would be needed, but I suppose it's a sign continued mainstream adoption.
Very patient customer, no doubt :twisted:
Portfolio: 50% DOGE, 10% SPACs, 10% Frozen OJ futures, 10% MOON ETF, 10% NFTs , 5% FOMO ETF, 5% New Jersey Delis with $100M market cap :)
decapod10
Posts: 1154
Joined: Thu Dec 28, 2017 6:46 pm

Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by decapod10 »

SlowMovingInvestor wrote: Mon Mar 29, 2021 7:01 pm
decapod10 wrote: Mon Mar 29, 2021 12:29 pm VISA processed it's first transaction on USDC/ETH today. I'm not certain what the situation was where this would be needed, but I suppose it's a sign continued mainstream adoption.
Very patient customer, no doubt :twisted:
Transferred $100 to his mom, paid $300 in fees, accidently typed in the wrong address it all got burned, lol... Looks like it was just a test transaction though before going live. I'm not quite sure what the use case for this would be, but maybe we will see. I guess if you wanted to buy something in Ether, this would be much faster/easier than buying ETH through an exchange. Like now you would have to either do ACH to Coinbase and wait 5 days to clear, or do a wire transfer to Coinbase.

Edit to add: I guess on boarding to ETH in general as well, which would include DeFi.
jajare58
Posts: 24
Joined: Wed Oct 28, 2020 10:51 am

Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by jajare58 »

Since this thread discussing various cryptocurrency, are there any sites which explains all different types of Alt coins or stable coins in simple terms. On Coinbase, I see there are many tradable coins but I want to learn more before I start investing( <0.5% if my portfolio) I know Bitcoin, ETH, Litecoin. But always get confused with other ETH Based tokens Uniswap, Sushiswap, etc.
tontot
Posts: 28
Joined: Mon Jan 03, 2011 4:58 am

Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by tontot »

This is a good one that I usually send to anyone want an overview of coins they want to choose to Do Your Own Research more

Direct link https://www.reddit.com/r/CryptoCurrency ... os_3_cons/

Copy & paste text

1. Bitcoin (BTC)

Strengths

• Widespread institutional involvement making it a store of value and fiat hedge

• First mover advantage/name recognition = head start on real world adoption

• Deflationary fully decentralised tokenomics

Weaknesses

• High transaction fees

• Scalability issues = slow transaction times

• Huge environmental cost due to proof-of-work concept



2. Ethereum (ETH)

Strengths

• First mover advantage in the smart contract space

• Most developers, nodes, and dApps of any cryptoasset

• Network is Turing complete = widespread use and potential application

Weaknesses

• Inflationary tokenomics (no fixed cap) - debate over capping inflation level

• Scalability of transactions causing high gas fees

• Unpredictability in timescale of upgrades, including proof-of-stake Eth 2.0



3. Binance Coin (BNB)

Strengths

• Enables smooth trading within largest exchange and BSC with low fees

• Fast network due to centralised nodes

• Greater crypto adoption/use of Binance = increased demand = increased value

Weaknesses

• Centralised control = contrary to ideals of cryptocurrency

• Exposed to greater risk of price shifts due to centralised control of supply

• Risks being treated as a security by SEC as tied to private company profit



4. Cardano (ADA)

Strengths

• Strong development team with evidence-based approach

• Transparent roadmap towards decentralisation, scalability, and security

• Deflationary tokenomics, involving staking support

Weaknesses

• Staking addresses link to wallet addresses

• Long rollout with not all planned aspects fully usable

• Censorship can exist due to separation of computational and settlement layers



5. Tether (USDT)

Strengths

• Most widely used/highest liquidity stablecoin on exchanges

• Strong record of holding currency value against the dollar

• Legal battle with New York Attorney General recently settled

Weaknesses

• Stablecoin so no more designed as an investment itself than the US dollar

• Centralised supply, which can be minted whenever team decides

• Perceived unscrupulous behaviour by team, misleading about how it’s backed up



6. Polkadot (DOT)

Strengths

• Most widespread use of token governing cross-blockchain interoperability

• Enabling secure parallel chains for scalability and reducing transaction fees

• High degree of developer flexibility

Weaknesses

• High fees to run nodes to validate network

• Limited developer adoption compared to Ethereum

• Large amounts of assets held by relatively few wallets



7. XRP (XRP)

Strengths

• Enables fast cross-border payments, particularly targeting businesses

• Name recognition and early market leader in payments space

• Negligible fees

Weaknesses

• Strong competition + regulation in market space = slow adoption

• Highly centralised nodes, privately held for proof-of-correctness algorithm

• Recent delistings from exchanges and halts to trading due to court cases



8. Litecoin (LTC)

Strengths

• Faster transaction confirmation that its direct competitor Bitcoin

• Long-standing trusted cryptoasset with historically solid top 10 ranking

• Near ubiquitous listing on exchanges and some mainstream adoption

Weaknesses

• Limited developmental input recently in comparison to other projects

• Growing move away from Litecoin as a Bitcoin hedge due to stablecoins

• At risk of being devalued if Bitcoin can be effectively solve scalability



9. Chainlink (LINK)

Strengths

• First mover advantage in blockchains/off-chain data feed communication

• Benefits from rise in value of businesses and blockchains it partners with

• Expansive market space for use of native network in real world applications

Weaknesses

• No clear roadmap or timescale for future developments

• Impacted somewhat by the speed of the Ethereum network for data transfers

• Relative centralisation of stored token assets



10. Bitcoin Cash (BCH)

Strengths

• Similar computational structure to Bitcoin and therefore easily co-adopted

• Addresses the scalability issue of Bitcoin specifically

• Smaller fees than the majority of its direct competitors

Weaknesses

• Perceived negativity surrounding its leadership, marketing, and community

• Direct competitor of Bitcoin which has a large market advantage

• Variably poor throughput of transactions compared to Bitcoin despite larger block size



11. Stellar (XLM)

Strengths

• Fast cross-border payments between individuals

• Negligible fees

• Not-for-profit philosophy = inclusive global payment system compared to XRP

Weaknesses

• Competitor of XRP without first mover advantage

• Nodes are privately held for consensus algorithm, with little financial incentive

• Small centralised development team



12. USD Coin (USDC)

Strengths

• Ethereum network stablecoin with fast transfers stabilising other cryptoassets

• More positive press than nearest direct competitor Tether

• Institutional backing

Weaknesses

• Stablecoin so no more designed as an investment itself than the US dollar

• Strong competition from other stablecoins including market leader Tether

• Uncertainty if regulation will impact stablecoin use long term



13. Uniswap (UNI)

Strengths

• Tied to performance of burgeoning market-leading decentralised exchange

• Enables holders to engage in the exchange’s governance activities

• Developer team planning major upgrades later in year = version 3

Weaknesses

• High initial distribution to relatively few developers

• Ethereum network token so fees high at times of congestion

• Persistently high inflationary tokenomics given primary use as governance token



14. Dogecoin (DOGE)

Strengths

• Fun and engaging story/community encouraging new users of crypoassets

• Low transaction fees

• Relatively quick transaction times leading to some real world adoption

Weaknesses

• Celebrity impact = pumps and dumps unusual for high market cap assets

• Potentially infinite supply limiting value possibilities, despite fixed inflation

• Virtually no development for many years



15. Wrapped Bitcoin (WBTC)

Strengths

• Allows Bitcoin liquidity to be used easily within the Ethereum network

• Expands use of decentralised finance network

• Takes the security of bitcoin with the usability of smart contract tokens

Weaknesses

• Wrapping is a centralised process, relying on trust of a central body

• Wrapping can’t be automated within Ethereum = reduced integrity of decentralised network

• Transactions of token subject to potentially high Ethereum gas fees



16. OKB (OKB)

Strengths

• Allows low fee trading on the OKEx exchange, the second largest centralised exchange

• Buy-back and burn deflationary tokenomics

• Can be used as payments for any goods and services partnered with NOWPayments

Weaknesses

• Centralised control of token supply and withdrawal

• Multiple OKEx controversies including suspending withdrawals for one month

• ERC-20 token subject to potentially high Ethereum gas fees for transactions



17. NEM (XEM)

Strengths

• Blockchain uses novel proof of importance algorithm to improve fairness vs proof of stake

• Applications for transfer of assets, votes, contracts, etc. can be coded in any language

• Major upgrade announced for March 12 which XEM holders can opt into

Weaknesses

• Few key meaningful differences in application to Ethereum, its main rival

• Reputation of team for not being marketing savvy in not finding user base

• Low developmental transparency with poor user interaction



18. Aave (AAVE)

Strengths

• Tied to market leader of non-custodial transparent decentralised lending

• Holders can partake in project governance

• Discounts on borrowing for holders

Weaknesses

• Variety of financial options complex and not necessarily intuitive for new users

• Limited current adoption beyond the crypto space

• Transactions of token subject to potentially high Ethereum gas fees



19. Cosmos (ATOM)

Strengths

• Unlimited ecosystem of independent interoperable dApp-specific blockchains

• Improves scalability in smart contract system compared to current Ethereum network

• New developments more easily added vs Polkadot = greater adoption potential

Weaknesses

• Tendermint consensus algorithm is limited to fewer validators than competitors

• Less fundamental need for native ATOM token within network compared to competitors

• No capped supply on tokens



20. Solana (SOL)

Strengths

• Billed as the fastest blockchain with token used to pay transaction fees

• Smart contract compatible with scalability built in

• FTX recently selected Solana blockchain as basis for their decentralised exchange Serum

Weaknesses

• Large amount of tokens held by development team

• Relatively recent rise to prominence so concerns that value may be unpredictable

• Recent blockchain bug caused 6 hour outage



21. Crypto.com Coin (CRO)

Strengths

• Close ties to fiat financial world through exchange and card = more adoption

• High interest rates when staked on native exchange

• Team trying to increase decentralisation preparing for upcoming blockchain launch

Weaknesses

• Little fundamental use case outside of exchange ecosystem

• Centralised supply of token with centrally made major developmental decisions

• Transactions of token subject to potentially high Ethereum gas fees



22. Monero (XMR)

Strengths

• First mover privacycoin where transaction tracing is virtually impossible by design

• Highly decentralised development and governance

• Low transaction fees compared to other proof-of-work projects

Weaknesses

• Higher complexity of code base = integration to markets challenging

• Governmental regulation more likely which could curtail listings and activity

• Proof of work blockchain coupled with transaction complexity causing potential scalability issues



23. EOS (EOS)

Strengths

• Much higher transaction speeds than main competitor Ethereum

• Negligible transaction fees

• Capacity to run industrial-scale decentralised apps

Weaknesses

• Extremely few existing nodes and inherent difficulty for more

• Essentially hitherto outcompeted by Ethereum and others for dApp takeup

• Community is sour on future and project founder has left recently



24. Bitcoin SV (BSV)

Strengths

• Hard fork from Bitcoin Cash with strong vision to create viable payments system

• Large block size enabling fast transaction speeds in comparison with BCH

• Minimal transaction fees

Weaknesses

• Multiple security lapses due to problems with blockchain code

• Fast transaction speeds/low fees has been more successfully adopted using other algorithms

• Strong negative feeling from many in crypto community, many of whom regard it as a scam



25. TRON (TRX)

Strengths

• Strong vision of empowering content creators to have ownership of their own web content

• Smart contracts can be created in many programming languages = easier development

• Faster transaction speeds and lower fees than competitor Ethereum

Weaknesses

• Concerns regarding the ethics of founding CEO and team

• Very similar code to other projects but not implementing their more recent innovations

• Delegated proof-of-stake confirming process prone to becoming centralised



Edit: BONUS:

26. IOTA (MIOTA)

Strengths

• Market leader in being the first crypto architecture not based on a blockchain (directed acyclic graph)

• Strong developer roadmap aiming for game-changing fast, feeless smart contracts governing IoT

• Comparatively environmentally friendly to other large scale projects

Weaknesses

• Slow rollout of roadmap and early target of removing central coordinating node still not complete

• New technological issues - caused a mainnet outage for 11 days as recently as last year

• As a token made for machine-to-machine transactions, future market is somewhat unpredictable

Index: 60/10/10/20 (VTSAX/VSMAX/VTIAX/VBTLX) | Crypto: 50/30/20 (BTC/ETH/BNB-ADA-DOT-VET)
jajare58
Posts: 24
Joined: Wed Oct 28, 2020 10:51 am

Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by jajare58 »

tontot wrote: Fri Apr 09, 2021 12:57 pm This is a good one that I usually send to anyone want an overview of coins they want to choose to Do Your Own Research more

Direct link https://www.reddit.com/r/CryptoCurrency ... os_3_cons/

Copy & paste text

1. Bitcoin (BTC)

Strengths

• Widespread institutional involvement making it a store of value and fiat hedge

• First mover advantage/name recognition = head start on real world adoption

• Deflationary fully decentralised tokenomics

Weaknesses

• High transaction fees

• Scalability issues = slow transaction times

• Huge environmental cost due to proof-of-work concept



2. Ethereum (ETH)

Strengths

• First mover advantage in the smart contract space

• Most developers, nodes, and dApps of any cryptoasset

• Network is Turing complete = widespread use and potential application

Weaknesses

• Inflationary tokenomics (no fixed cap) - debate over capping inflation level

• Scalability of transactions causing high gas fees

• Unpredictability in timescale of upgrades, including proof-of-stake Eth 2.0



3. Binance Coin (BNB)

Strengths

• Enables smooth trading within largest exchange and BSC with low fees

• Fast network due to centralised nodes

• Greater crypto adoption/use of Binance = increased demand = increased value

Weaknesses

• Centralised control = contrary to ideals of cryptocurrency

• Exposed to greater risk of price shifts due to centralised control of supply

• Risks being treated as a security by SEC as tied to private company profit



4. Cardano (ADA)

Strengths

• Strong development team with evidence-based approach

• Transparent roadmap towards decentralisation, scalability, and security

• Deflationary tokenomics, involving staking support

Weaknesses

• Staking addresses link to wallet addresses

• Long rollout with not all planned aspects fully usable

• Censorship can exist due to separation of computational and settlement layers



5. Tether (USDT)

Strengths

• Most widely used/highest liquidity stablecoin on exchanges

• Strong record of holding currency value against the dollar

• Legal battle with New York Attorney General recently settled

Weaknesses

• Stablecoin so no more designed as an investment itself than the US dollar

• Centralised supply, which can be minted whenever team decides

• Perceived unscrupulous behaviour by team, misleading about how it’s backed up



6. Polkadot (DOT)

Strengths

• Most widespread use of token governing cross-blockchain interoperability

• Enabling secure parallel chains for scalability and reducing transaction fees

• High degree of developer flexibility

Weaknesses

• High fees to run nodes to validate network

• Limited developer adoption compared to Ethereum

• Large amounts of assets held by relatively few wallets



7. XRP (XRP)

Strengths

• Enables fast cross-border payments, particularly targeting businesses

• Name recognition and early market leader in payments space

• Negligible fees

Weaknesses

• Strong competition + regulation in market space = slow adoption

• Highly centralised nodes, privately held for proof-of-correctness algorithm

• Recent delistings from exchanges and halts to trading due to court cases



8. Litecoin (LTC)

Strengths

• Faster transaction confirmation that its direct competitor Bitcoin

• Long-standing trusted cryptoasset with historically solid top 10 ranking

• Near ubiquitous listing on exchanges and some mainstream adoption

Weaknesses

• Limited developmental input recently in comparison to other projects

• Growing move away from Litecoin as a Bitcoin hedge due to stablecoins

• At risk of being devalued if Bitcoin can be effectively solve scalability



9. Chainlink (LINK)

Strengths

• First mover advantage in blockchains/off-chain data feed communication

• Benefits from rise in value of businesses and blockchains it partners with

• Expansive market space for use of native network in real world applications

Weaknesses

• No clear roadmap or timescale for future developments

• Impacted somewhat by the speed of the Ethereum network for data transfers

• Relative centralisation of stored token assets



10. Bitcoin Cash (BCH)

Strengths

• Similar computational structure to Bitcoin and therefore easily co-adopted

• Addresses the scalability issue of Bitcoin specifically

• Smaller fees than the majority of its direct competitors

Weaknesses

• Perceived negativity surrounding its leadership, marketing, and community

• Direct competitor of Bitcoin which has a large market advantage

• Variably poor throughput of transactions compared to Bitcoin despite larger block size



11. Stellar (XLM)

Strengths

• Fast cross-border payments between individuals

• Negligible fees

• Not-for-profit philosophy = inclusive global payment system compared to XRP

Weaknesses

• Competitor of XRP without first mover advantage

• Nodes are privately held for consensus algorithm, with little financial incentive

• Small centralised development team



12. USD Coin (USDC)

Strengths

• Ethereum network stablecoin with fast transfers stabilising other cryptoassets

• More positive press than nearest direct competitor Tether

• Institutional backing

Weaknesses

• Stablecoin so no more designed as an investment itself than the US dollar

• Strong competition from other stablecoins including market leader Tether

• Uncertainty if regulation will impact stablecoin use long term



13. Uniswap (UNI)

Strengths

• Tied to performance of burgeoning market-leading decentralised exchange

• Enables holders to engage in the exchange’s governance activities

• Developer team planning major upgrades later in year = version 3

Weaknesses

• High initial distribution to relatively few developers

• Ethereum network token so fees high at times of congestion

• Persistently high inflationary tokenomics given primary use as governance token



14. Dogecoin (DOGE)

Strengths

• Fun and engaging story/community encouraging new users of crypoassets

• Low transaction fees

• Relatively quick transaction times leading to some real world adoption

Weaknesses

• Celebrity impact = pumps and dumps unusual for high market cap assets

• Potentially infinite supply limiting value possibilities, despite fixed inflation

• Virtually no development for many years



15. Wrapped Bitcoin (WBTC)

Strengths

• Allows Bitcoin liquidity to be used easily within the Ethereum network

• Expands use of decentralised finance network

• Takes the security of bitcoin with the usability of smart contract tokens

Weaknesses

• Wrapping is a centralised process, relying on trust of a central body

• Wrapping can’t be automated within Ethereum = reduced integrity of decentralised network

• Transactions of token subject to potentially high Ethereum gas fees



16. OKB (OKB)

Strengths

• Allows low fee trading on the OKEx exchange, the second largest centralised exchange

• Buy-back and burn deflationary tokenomics

• Can be used as payments for any goods and services partnered with NOWPayments

Weaknesses

• Centralised control of token supply and withdrawal

• Multiple OKEx controversies including suspending withdrawals for one month

• ERC-20 token subject to potentially high Ethereum gas fees for transactions



17. NEM (XEM)

Strengths

• Blockchain uses novel proof of importance algorithm to improve fairness vs proof of stake

• Applications for transfer of assets, votes, contracts, etc. can be coded in any language

• Major upgrade announced for March 12 which XEM holders can opt into

Weaknesses

• Few key meaningful differences in application to Ethereum, its main rival

• Reputation of team for not being marketing savvy in not finding user base

• Low developmental transparency with poor user interaction



18. Aave (AAVE)

Strengths

• Tied to market leader of non-custodial transparent decentralised lending

• Holders can partake in project governance

• Discounts on borrowing for holders

Weaknesses

• Variety of financial options complex and not necessarily intuitive for new users

• Limited current adoption beyond the crypto space

• Transactions of token subject to potentially high Ethereum gas fees



19. Cosmos (ATOM)

Strengths

• Unlimited ecosystem of independent interoperable dApp-specific blockchains

• Improves scalability in smart contract system compared to current Ethereum network

• New developments more easily added vs Polkadot = greater adoption potential

Weaknesses

• Tendermint consensus algorithm is limited to fewer validators than competitors

• Less fundamental need for native ATOM token within network compared to competitors

• No capped supply on tokens



20. Solana (SOL)

Strengths

• Billed as the fastest blockchain with token used to pay transaction fees

• Smart contract compatible with scalability built in

• FTX recently selected Solana blockchain as basis for their decentralised exchange Serum

Weaknesses

• Large amount of tokens held by development team

• Relatively recent rise to prominence so concerns that value may be unpredictable

• Recent blockchain bug caused 6 hour outage



21. Crypto.com Coin (CRO)

Strengths

• Close ties to fiat financial world through exchange and card = more adoption

• High interest rates when staked on native exchange

• Team trying to increase decentralisation preparing for upcoming blockchain launch

Weaknesses

• Little fundamental use case outside of exchange ecosystem

• Centralised supply of token with centrally made major developmental decisions

• Transactions of token subject to potentially high Ethereum gas fees



22. Monero (XMR)

Strengths

• First mover privacycoin where transaction tracing is virtually impossible by design

• Highly decentralised development and governance

• Low transaction fees compared to other proof-of-work projects

Weaknesses

• Higher complexity of code base = integration to markets challenging

• Governmental regulation more likely which could curtail listings and activity

• Proof of work blockchain coupled with transaction complexity causing potential scalability issues



23. EOS (EOS)

Strengths

• Much higher transaction speeds than main competitor Ethereum

• Negligible transaction fees

• Capacity to run industrial-scale decentralised apps

Weaknesses

• Extremely few existing nodes and inherent difficulty for more

• Essentially hitherto outcompeted by Ethereum and others for dApp takeup

• Community is sour on future and project founder has left recently



24. Bitcoin SV (BSV)

Strengths

• Hard fork from Bitcoin Cash with strong vision to create viable payments system

• Large block size enabling fast transaction speeds in comparison with BCH

• Minimal transaction fees

Weaknesses

• Multiple security lapses due to problems with blockchain code

• Fast transaction speeds/low fees has been more successfully adopted using other algorithms

• Strong negative feeling from many in crypto community, many of whom regard it as a scam



25. TRON (TRX)

Strengths

• Strong vision of empowering content creators to have ownership of their own web content

• Smart contracts can be created in many programming languages = easier development

• Faster transaction speeds and lower fees than competitor Ethereum

Weaknesses

• Concerns regarding the ethics of founding CEO and team

• Very similar code to other projects but not implementing their more recent innovations

• Delegated proof-of-stake confirming process prone to becoming centralised



Edit: BONUS:

26. IOTA (MIOTA)

Strengths

• Market leader in being the first crypto architecture not based on a blockchain (directed acyclic graph)

• Strong developer roadmap aiming for game-changing fast, feeless smart contracts governing IoT

• Comparatively environmentally friendly to other large scale projects

Weaknesses

• Slow rollout of roadmap and early target of removing central coordinating node still not complete

• New technological issues - caused a mainnet outage for 11 days as recently as last year

• As a token made for machine-to-machine transactions, future market is somewhat unpredictable

Thank you! This is very helpful. Will keep me busy for a while to read this information.
kellykline
Posts: 85
Joined: Sun Apr 17, 2016 9:12 am

Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by kellykline »

Yes, don't forget to buy DOGE as well. $0.06 --> $1, that's almost a 20x gain for very little risk. Forget bitcoin, DOGE is the Gooddest Coin!!!! woof woof!!!
User avatar
Corsair
Posts: 548
Joined: Mon Oct 21, 2019 9:57 am
Location: WA

Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by Corsair »

Hit $61,000 :shock: :moneybag

Tether team hard at work printing. They seem to print as fast as the Fed does!
All posts are my own opinions and are not financial advice.
User avatar
AerialWombat
Posts: 2129
Joined: Tue May 29, 2018 1:07 pm
Location: Cash Canyon / Cashville

Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by AerialWombat »

Corsair wrote: Sat Apr 10, 2021 12:08 am Hit $61,000 :shock: :moneybag
It’s crazy, for sure. Never thought I would be rebalancing from one imaginary asset to another, but I just converted some bitcoin to lumens.
For entertainment purposes only.
am
Posts: 3777
Joined: Sun Sep 30, 2007 9:55 am

Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by am »

Corsair wrote: Sat Apr 10, 2021 12:08 am Hit $61,000 :shock: :moneybag

Tether team hard at work printing. They seem to print as fast as the Fed does!
I think 61k will be a good deal around this time next year.
NabSh
Posts: 134
Joined: Fri Dec 25, 2020 12:09 pm

Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by NabSh »

I have many younger family members who are very proud of their investment in BitCoin.

In my mind it is still pure speculation continue to see huge price swings. An investment should not lose 10-20% value in 1 day and then gain the very next day/week.

DeFi and Blockchain are going to be the NextGen of technologies that will dominate. This is because the ease of transaction they bring in. But If this is going to be a single Cryptocurrency, its yet to be seen. Now if there 25 different Cryptocurrencies and they are all in use, than they would need to be tied to a single base index (currently US $)
keith6014
Posts: 438
Joined: Thu Jan 02, 2014 11:58 pm

Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by keith6014 »

AerialWombat wrote: Sat Apr 10, 2021 12:48 am
Corsair wrote: Sat Apr 10, 2021 12:08 am Hit $61,000 :shock: :moneybag
It’s crazy, for sure. Never thought I would be rebalancing from one imaginary asset to another, but I just converted some bitcoin to lumens.
I assume you mean Stellar Lumens (XLM). Why is that? I am building a position to it and a hedge for XRP.
User avatar
AerialWombat
Posts: 2129
Joined: Tue May 29, 2018 1:07 pm
Location: Cash Canyon / Cashville

Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by AerialWombat »

keith6014 wrote: Sat Apr 10, 2021 9:16 am
AerialWombat wrote: Sat Apr 10, 2021 12:48 am
Corsair wrote: Sat Apr 10, 2021 12:08 am Hit $61,000 :shock: :moneybag
It’s crazy, for sure. Never thought I would be rebalancing from one imaginary asset to another, but I just converted some bitcoin to lumens.
I assume you mean Stellar Lumens (XLM). Why is that? I am building a position to it and a hedge for XRP.
Because I never thought I’d own crypto at all! But it’s my new fun money play land, so I arbitrarily arbitrage price swings across 30 different tokens. It’s more fun than online poker, and I expect to end with just as much money (zero).
For entertainment purposes only.
decapod10
Posts: 1154
Joined: Thu Dec 28, 2017 6:46 pm

Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by decapod10 »

AerialWombat wrote: Sat Apr 10, 2021 9:43 am
keith6014 wrote: Sat Apr 10, 2021 9:16 am
AerialWombat wrote: Sat Apr 10, 2021 12:48 am
Corsair wrote: Sat Apr 10, 2021 12:08 am Hit $61,000 :shock: :moneybag
It’s crazy, for sure. Never thought I would be rebalancing from one imaginary asset to another, but I just converted some bitcoin to lumens.
I assume you mean Stellar Lumens (XLM). Why is that? I am building a position to it and a hedge for XRP.
Because I never thought I’d own crypto at all! But it’s my new fun money play land, so I arbitrarily arbitrage price swings across 30 different tokens. It’s more fun than online poker, and I expect to end with just as much money (zero).
Yeah, I just got into crypto in January as a lottery ticket, nothing I can't afford to lose. It's a fun world. I primarily have ETH and trade NFTs. So far been fun and reasonably profitable, though it could have been so much better had I not made so many mistakes.
YRT70
Posts: 1000
Joined: Sat Apr 27, 2019 8:51 am

Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by YRT70 »

AerialWombat wrote: Sat Apr 10, 2021 9:43 am
keith6014 wrote: Sat Apr 10, 2021 9:16 am
AerialWombat wrote: Sat Apr 10, 2021 12:48 am
Corsair wrote: Sat Apr 10, 2021 12:08 am Hit $61,000 :shock: :moneybag
It’s crazy, for sure. Never thought I would be rebalancing from one imaginary asset to another, but I just converted some bitcoin to lumens.
I assume you mean Stellar Lumens (XLM). Why is that? I am building a position to it and a hedge for XRP.
Because I never thought I’d own crypto at all! But it’s my new fun money play land, so I arbitrarily arbitrage price swings across 30 different tokens. It’s more fun than online poker, and I expect to end with just as much money (zero).
Crypto noob checking in. Would Kraken.com be a good broker to do that? I have my account with them.
Mindbender
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by Mindbender »

XRP right now. :shock: I wonder if we'll see it get relisted.
decapod10
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by decapod10 »

YRT70 wrote: Sat Apr 10, 2021 10:56 am
AerialWombat wrote: Sat Apr 10, 2021 9:43 am
keith6014 wrote: Sat Apr 10, 2021 9:16 am
AerialWombat wrote: Sat Apr 10, 2021 12:48 am
Corsair wrote: Sat Apr 10, 2021 12:08 am Hit $61,000 :shock: :moneybag
It’s crazy, for sure. Never thought I would be rebalancing from one imaginary asset to another, but I just converted some bitcoin to lumens.
I assume you mean Stellar Lumens (XLM). Why is that? I am building a position to it and a hedge for XRP.
Because I never thought I’d own crypto at all! But it’s my new fun money play land, so I arbitrarily arbitrage price swings across 30 different tokens. It’s more fun than online poker, and I expect to end with just as much money (zero).
Crypto noob checking in. Would Kraken.com be a good broker to do that? I have my account with them.
Yes I believe Kraken has Stellar lumens (XLM). Just FYI, There was an event where the network appeared to be non-operational, which is sort of a big deal when it comes to blockchain. Probably something worth researching before you buy (I have not looked into it much so don't know how important it is).
bitdocmd
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by bitdocmd »

Mindbender wrote: Sat Apr 10, 2021 12:45 pm XRP right now. :shock: I wonder if we'll see it get relisted.
XRP is a scam and has been deemed an unregistered security by the SEC. there is no reason for Coinbase to take on that sort of risk.

That said, Ripple has an army of really good lawyers so it’s TBD what happens with their appeal
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Tejfyy
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by Tejfyy »

I think I'll stick with the tried and true polluters in my index fund.

Bitcoin mining in China could soon generate as much carbon emissions as some European countries, study finds.
https://edition.cnn.com/2021/04/09/bus ... index.html
Bama12
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by Bama12 »

tontot wrote: Fri Apr 09, 2021 12:57 pm This is a good one that I usually send to anyone want an overview of coins they want to choose to Do Your Own Research more

Direct link https://www.reddit.com/r/CryptoCurrency ... os_3_cons/

Copy & paste text

1. Bitcoin (BTC)

Strengths

• Widespread institutional involvement making it a store of value and fiat hedge

• First mover advantage/name recognition = head start on real world adoption

• Deflationary fully decentralised tokenomics

Weaknesses

• High transaction fees

• Scalability issues = slow transaction times

• Huge environmental cost due to proof-of-work concept



2. Ethereum (ETH)

Strengths

• First mover advantage in the smart contract space

• Most developers, nodes, and dApps of any cryptoasset

• Network is Turing complete = widespread use and potential application

Weaknesses

• Inflationary tokenomics (no fixed cap) - debate over capping inflation level

• Scalability of transactions causing high gas fees

• Unpredictability in timescale of upgrades, including proof-of-stake Eth 2.0



3. Binance Coin (BNB)

Strengths

• Enables smooth trading within largest exchange and BSC with low fees

• Fast network due to centralised nodes

• Greater crypto adoption/use of Binance = increased demand = increased value

Weaknesses

• Centralised control = contrary to ideals of cryptocurrency

• Exposed to greater risk of price shifts due to centralised control of supply

• Risks being treated as a security by SEC as tied to private company profit



4. Cardano (ADA)

Strengths

• Strong development team with evidence-based approach

• Transparent roadmap towards decentralisation, scalability, and security

• Deflationary tokenomics, involving staking support

Weaknesses

• Staking addresses link to wallet addresses

• Long rollout with not all planned aspects fully usable

• Censorship can exist due to separation of computational and settlement layers



5. Tether (USDT)

Strengths

• Most widely used/highest liquidity stablecoin on exchanges

• Strong record of holding currency value against the dollar

• Legal battle with New York Attorney General recently settled

Weaknesses

• Stablecoin so no more designed as an investment itself than the US dollar

• Centralised supply, which can be minted whenever team decides

• Perceived unscrupulous behaviour by team, misleading about how it’s backed up



6. Polkadot (DOT)

Strengths

• Most widespread use of token governing cross-blockchain interoperability

• Enabling secure parallel chains for scalability and reducing transaction fees

• High degree of developer flexibility

Weaknesses

• High fees to run nodes to validate network

• Limited developer adoption compared to Ethereum

• Large amounts of assets held by relatively few wallets



7. XRP (XRP)

Strengths

• Enables fast cross-border payments, particularly targeting businesses

• Name recognition and early market leader in payments space

• Negligible fees

Weaknesses

• Strong competition + regulation in market space = slow adoption

• Highly centralised nodes, privately held for proof-of-correctness algorithm

• Recent delistings from exchanges and halts to trading due to court cases



8. Litecoin (LTC)

Strengths

• Faster transaction confirmation that its direct competitor Bitcoin

• Long-standing trusted cryptoasset with historically solid top 10 ranking

• Near ubiquitous listing on exchanges and some mainstream adoption

Weaknesses

• Limited developmental input recently in comparison to other projects

• Growing move away from Litecoin as a Bitcoin hedge due to stablecoins

• At risk of being devalued if Bitcoin can be effectively solve scalability



9. Chainlink (LINK)

Strengths

• First mover advantage in blockchains/off-chain data feed communication

• Benefits from rise in value of businesses and blockchains it partners with

• Expansive market space for use of native network in real world applications

Weaknesses

• No clear roadmap or timescale for future developments

• Impacted somewhat by the speed of the Ethereum network for data transfers

• Relative centralisation of stored token assets



10. Bitcoin Cash (BCH)

Strengths

• Similar computational structure to Bitcoin and therefore easily co-adopted

• Addresses the scalability issue of Bitcoin specifically

• Smaller fees than the majority of its direct competitors

Weaknesses

• Perceived negativity surrounding its leadership, marketing, and community

• Direct competitor of Bitcoin which has a large market advantage

• Variably poor throughput of transactions compared to Bitcoin despite larger block size



11. Stellar (XLM)

Strengths

• Fast cross-border payments between individuals

• Negligible fees

• Not-for-profit philosophy = inclusive global payment system compared to XRP

Weaknesses

• Competitor of XRP without first mover advantage

• Nodes are privately held for consensus algorithm, with little financial incentive

• Small centralised development team



12. USD Coin (USDC)

Strengths

• Ethereum network stablecoin with fast transfers stabilising other cryptoassets

• More positive press than nearest direct competitor Tether

• Institutional backing

Weaknesses

• Stablecoin so no more designed as an investment itself than the US dollar

• Strong competition from other stablecoins including market leader Tether

• Uncertainty if regulation will impact stablecoin use long term



13. Uniswap (UNI)

Strengths

• Tied to performance of burgeoning market-leading decentralised exchange

• Enables holders to engage in the exchange’s governance activities

• Developer team planning major upgrades later in year = version 3

Weaknesses

• High initial distribution to relatively few developers

• Ethereum network token so fees high at times of congestion

• Persistently high inflationary tokenomics given primary use as governance token



14. Dogecoin (DOGE)

Strengths

• Fun and engaging story/community encouraging new users of crypoassets

• Low transaction fees

• Relatively quick transaction times leading to some real world adoption

Weaknesses

• Celebrity impact = pumps and dumps unusual for high market cap assets

• Potentially infinite supply limiting value possibilities, despite fixed inflation

• Virtually no development for many years



15. Wrapped Bitcoin (WBTC)

Strengths

• Allows Bitcoin liquidity to be used easily within the Ethereum network

• Expands use of decentralised finance network

• Takes the security of bitcoin with the usability of smart contract tokens

Weaknesses

• Wrapping is a centralised process, relying on trust of a central body

• Wrapping can’t be automated within Ethereum = reduced integrity of decentralised network

• Transactions of token subject to potentially high Ethereum gas fees



16. OKB (OKB)

Strengths

• Allows low fee trading on the OKEx exchange, the second largest centralised exchange

• Buy-back and burn deflationary tokenomics

• Can be used as payments for any goods and services partnered with NOWPayments

Weaknesses

• Centralised control of token supply and withdrawal

• Multiple OKEx controversies including suspending withdrawals for one month

• ERC-20 token subject to potentially high Ethereum gas fees for transactions



17. NEM (XEM)

Strengths

• Blockchain uses novel proof of importance algorithm to improve fairness vs proof of stake

• Applications for transfer of assets, votes, contracts, etc. can be coded in any language

• Major upgrade announced for March 12 which XEM holders can opt into

Weaknesses

• Few key meaningful differences in application to Ethereum, its main rival

• Reputation of team for not being marketing savvy in not finding user base

• Low developmental transparency with poor user interaction



18. Aave (AAVE)

Strengths

• Tied to market leader of non-custodial transparent decentralised lending

• Holders can partake in project governance

• Discounts on borrowing for holders

Weaknesses

• Variety of financial options complex and not necessarily intuitive for new users

• Limited current adoption beyond the crypto space

• Transactions of token subject to potentially high Ethereum gas fees



19. Cosmos (ATOM)

Strengths

• Unlimited ecosystem of independent interoperable dApp-specific blockchains

• Improves scalability in smart contract system compared to current Ethereum network

• New developments more easily added vs Polkadot = greater adoption potential

Weaknesses

• Tendermint consensus algorithm is limited to fewer validators than competitors

• Less fundamental need for native ATOM token within network compared to competitors

• No capped supply on tokens



20. Solana (SOL)

Strengths

• Billed as the fastest blockchain with token used to pay transaction fees

• Smart contract compatible with scalability built in

• FTX recently selected Solana blockchain as basis for their decentralised exchange Serum

Weaknesses

• Large amount of tokens held by development team

• Relatively recent rise to prominence so concerns that value may be unpredictable

• Recent blockchain bug caused 6 hour outage



21. Crypto.com Coin (CRO)

Strengths

• Close ties to fiat financial world through exchange and card = more adoption

• High interest rates when staked on native exchange

• Team trying to increase decentralisation preparing for upcoming blockchain launch

Weaknesses

• Little fundamental use case outside of exchange ecosystem

• Centralised supply of token with centrally made major developmental decisions

• Transactions of token subject to potentially high Ethereum gas fees



22. Monero (XMR)

Strengths

• First mover privacycoin where transaction tracing is virtually impossible by design

• Highly decentralised development and governance

• Low transaction fees compared to other proof-of-work projects

Weaknesses

• Higher complexity of code base = integration to markets challenging

• Governmental regulation more likely which could curtail listings and activity

• Proof of work blockchain coupled with transaction complexity causing potential scalability issues



23. EOS (EOS)

Strengths

• Much higher transaction speeds than main competitor Ethereum

• Negligible transaction fees

• Capacity to run industrial-scale decentralised apps

Weaknesses

• Extremely few existing nodes and inherent difficulty for more

• Essentially hitherto outcompeted by Ethereum and others for dApp takeup

• Community is sour on future and project founder has left recently



24. Bitcoin SV (BSV)

Strengths

• Hard fork from Bitcoin Cash with strong vision to create viable payments system

• Large block size enabling fast transaction speeds in comparison with BCH

• Minimal transaction fees

Weaknesses

• Multiple security lapses due to problems with blockchain code

• Fast transaction speeds/low fees has been more successfully adopted using other algorithms

• Strong negative feeling from many in crypto community, many of whom regard it as a scam



25. TRON (TRX)

Strengths

• Strong vision of empowering content creators to have ownership of their own web content

• Smart contracts can be created in many programming languages = easier development

• Faster transaction speeds and lower fees than competitor Ethereum

Weaknesses

• Concerns regarding the ethics of founding CEO and team

• Very similar code to other projects but not implementing their more recent innovations

• Delegated proof-of-stake confirming process prone to becoming centralised



Edit: BONUS:

26. IOTA (MIOTA)

Strengths

• Market leader in being the first crypto architecture not based on a blockchain (directed acyclic graph)

• Strong developer roadmap aiming for game-changing fast, feeless smart contracts governing IoT

• Comparatively environmentally friendly to other large scale projects

Weaknesses

• Slow rollout of roadmap and early target of removing central coordinating node still not complete

• New technological issues - caused a mainnet outage for 11 days as recently as last year

• As a token made for machine-to-machine transactions, future market is somewhat unpredictable


I would add ZIL and VET
surfstar
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by surfstar »

Bama12 wrote: Sat Apr 10, 2021 7:45 pm I would add ZIL and VET
This would be an easy late-night sketch where you add in a few that are completely made up instead of actually made up and exist. I'm sure people would still "invest" in them anyways
:oops: Kimmel-Koin coming soon!
Bama12
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by Bama12 »

surfstar wrote: Sun Apr 11, 2021 12:22 am
Bama12 wrote: Sat Apr 10, 2021 7:45 pm I would add ZIL and VET
This would be an easy late-night sketch where you add in a few that are completely made up instead of actually made up and exist. I'm sure people would still "invest" in them anyways
:oops: Kimmel-Koin coming soon!
ZIL and VET will be big players over the next 10 years.
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MinnGuyInvesting
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by MinnGuyInvesting »

Bama12 wrote: Sun Apr 11, 2021 3:33 am
surfstar wrote: Sun Apr 11, 2021 12:22 am
Bama12 wrote: Sat Apr 10, 2021 7:45 pm I would add ZIL and VET
This would be an easy late-night sketch where you add in a few that are completely made up instead of actually made up and exist. I'm sure people would still "invest" in them anyways
:oops: Kimmel-Koin coming soon!
ZIL and VET will be big players over the next 10 years.
After my initial investments in Eth and Btc, I started expanding to others.
It's a total crapshoot it seems. I think more have done nothing or gone down than any that have increased to the rate of BTC or ETH.

It's all to gain long term exposure, but trying to hit on every new cryptocurrency is an impossible task.
If I had just dumped everything into ETH when I started I'd be better off, but no one knows these things.

Eth over 2100 now.
Index ETF's 42% |ARK Funds 33% | AAPL 4.7% | TSLA 2.4% | GOOGL 1.7% | AMZN 1.2% |Other stocks 5% | BTC/ETH 8% | | | Tracking my porfolio: https://www.bogleheads.org/forum/viewtopic.php?p=5745280#p5745280
decapod10
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by decapod10 »

MinnGuyInvesting wrote: Sun Apr 11, 2021 8:20 am
Bama12 wrote: Sun Apr 11, 2021 3:33 am
surfstar wrote: Sun Apr 11, 2021 12:22 am
Bama12 wrote: Sat Apr 10, 2021 7:45 pm I would add ZIL and VET
This would be an easy late-night sketch where you add in a few that are completely made up instead of actually made up and exist. I'm sure people would still "invest" in them anyways
:oops: Kimmel-Koin coming soon!
ZIL and VET will be big players over the next 10 years.
After my initial investments in Eth and Btc, I started expanding to others.
It's a total crapshoot it seems. I think more have done nothing or gone down than any that have increased to the rate of BTC or ETH.

It's all to gain long term exposure, but trying to hit on every new cryptocurrency is an impossible task.
If I had just dumped everything into ETH when I started I'd be better off, but no one knows these things.

Eth over 2100 now.
Maybe a crypto index fund of sorts? If you owned the top 5 or so coins, you would probably own a huge percentage of crypto. And of course most would be BTC and ETH.
decapod10
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by decapod10 »

BTC and ETH are at all time highs today, yet no posts here. What kind of "Bitcoin Continues to Soar!" thread is this? lol
fingoals
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by fingoals »

decapod10 wrote: Tue Apr 13, 2021 11:03 am BTC and ETH are at all time highs today, yet no posts here. What kind of "Bitcoin Continues to Soar!" thread is this? lol
People are too busy reassessing their IPS documents and strategizing to move (or moving :oops: ) large portions of their portfolios to :twisted: crypto ... :-)
Samosa22
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by Samosa22 »

Sorry for duplicate comment as I already posted it in another thread. Just adding here for a fun read, no actionability.
Mike Caldwell — a Salt Lake City, Utah-based timekeeping software entrepreneur — bought $20,000 worth of bitcoin at an estimated 20 cents a pop [in 2011]. Four months later, he sold it for $3 million — a compound annual rate of return of 45,152%......Caldwell could be kicking himself today for selling too soon. With Bitcoin trading at a record $62,732.30 on April 13, if he had held on to the 200,000 bitcoins he bought in February 2011, his stash would now be worth a whopping $12.5 billion...
Diversification is protection against ignorance - WB.
txhill
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by txhill »

Samosa22 wrote: Tue Apr 13, 2021 2:32 pm Sorry for duplicate comment as I already posted it in another thread. Just adding here for a fun read, no actionability.
Mike Caldwell — a Salt Lake City, Utah-based timekeeping software entrepreneur — bought $20,000 worth of bitcoin at an estimated 20 cents a pop [in 2011]. Four months later, he sold it for $3 million — a compound annual rate of return of 45,152%......Caldwell could be kicking himself today for selling too soon. With Bitcoin trading at a record $62,732.30 on April 13, if he had held on to the 200,000 bitcoins he bought in February 2011, his stash would now be worth a whopping $12.5 billion...
I mean, every one of the millions of transactions prior to today involved someone selling something they now wish they could have held, and that's true not just for bitcoin but for any highly performing stock. I guess with bitcoin it's just especially painful because it's the best performing asset of all time considering it traded for quite a while at only a fraction of a penny.
APX32
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by APX32 »

decapod10 wrote: Tue Apr 13, 2021 11:03 am BTC and ETH are at all time highs today, yet no posts here. What kind of "Bitcoin Continues to Soar!" thread is this? lol
It’s been a good past 6 months being in cryptos. It has accelerated my retirement by several years. I continue to take profits while maintaining a 5-8% in both BTC and ETH.

My other investments which is SPY and some individual stocks in my play account continue to do well also. It’s virtually impossible not to make money in this environment.

But there’s a bit hollowness to all of this, at least that’s how I feel about it. I can’t quite explain it, but I just have this concern that in about 3-4 years, my low-7 figure portfolio (assuming it stays that way) will be the least of my concerns.
40% SPY | 10% GLD | 10% BTC/ETH | 40% Cash
Kruser64
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by Kruser64 »

Samosa22 wrote: Tue Apr 13, 2021 2:32 pm Sorry for duplicate comment as I already posted it in another thread. Just adding here for a fun read, no actionability.
Mike Caldwell — a Salt Lake City, Utah-based timekeeping software entrepreneur — bought $20,000 worth of bitcoin at an estimated 20 cents a pop [in 2011]. Four months later, he sold it for $3 million — a compound annual rate of return of 45,152%......Caldwell could be kicking himself today for selling too soon. With Bitcoin trading at a record $62,732.30 on April 13, if he had held on to the 200,000 bitcoins he bought in February 2011, his stash would now be worth a whopping $12.5 billion...
Don't forget the pizza guy who bought 2 pizzas for 10,000 bitcoin in 2010. 600 million in 4/13/2021 value. :oops:
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jason2459
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by jason2459 »

decapod10 wrote: Tue Apr 13, 2021 11:03 am BTC and ETH are at all time highs today, yet no posts here. What kind of "Bitcoin Continues to Soar!" thread is this? lol
XRP isn't stopping either
"In the short run, the stock market is a voting machine; in the long run, it is a weighing machine" ~Benjamin Graham
keith6014
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by keith6014 »

jason2459 wrote: Tue Apr 13, 2021 7:32 pm
decapod10 wrote: Tue Apr 13, 2021 11:03 am BTC and ETH are at all time highs today, yet no posts here. What kind of "Bitcoin Continues to Soar!" thread is this? lol
XRP isn't stopping either
why is it rising so quickly? Did the SEC drop its case?
ohboy!
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by ohboy! »

decapod10 wrote: Tue Apr 13, 2021 11:03 am BTC and ETH are at all time highs today, yet no posts here. What kind of "Bitcoin Continues to Soar!" thread is this? lol
Cheers!
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MinnGuyInvesting
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by MinnGuyInvesting »

jason2459 wrote: Tue Apr 13, 2021 7:32 pm
decapod10 wrote: Tue Apr 13, 2021 11:03 am BTC and ETH are at all time highs today, yet no posts here. What kind of "Bitcoin Continues to Soar!" thread is this? lol
XRP isn't stopping either

I wasn't watching it today. To busy getting my first COVID shot.
Came home and saw and update.
Record highs.

ETH is having an incredible year.
Bitcoin hit a new high.
Index ETF's 42% |ARK Funds 33% | AAPL 4.7% | TSLA 2.4% | GOOGL 1.7% | AMZN 1.2% |Other stocks 5% | BTC/ETH 8% | | | Tracking my porfolio: https://www.bogleheads.org/forum/viewtopic.php?p=5745280#p5745280
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jason2459
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by jason2459 »

keith6014 wrote: Tue Apr 13, 2021 7:49 pm
jason2459 wrote: Tue Apr 13, 2021 7:32 pm
decapod10 wrote: Tue Apr 13, 2021 11:03 am BTC and ETH are at all time highs today, yet no posts here. What kind of "Bitcoin Continues to Soar!" thread is this? lol
XRP isn't stopping either
why is it rising so quickly? Did the SEC drop its case?
Not that I've seen. Just the judge ruling that Ripple can see the other crypto docs which put the SEC in an awkward position.

Are some US exchanges listing them again?
"In the short run, the stock market is a voting machine; in the long run, it is a weighing machine" ~Benjamin Graham
rhoms33
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by rhoms33 »

Kruser64 wrote: Tue Apr 13, 2021 7:22 pm Don't forget the pizza guy who bought 2 pizzas for 10,000 bitcoin in 2010. 600 million in 4/13/2021 value. :oops:
Timely, as today you can buy 10,000 pizzas for 2 Bitcoin.
JHU ALmuni
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by JHU ALmuni »

Doge coin hit a new ATH just below 0.13 🐶
Desx
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by Desx »

I personally, as a young person whose friends buy crypto all the time, believe this fad will end someday, badly. My friends recently bought a coin that went from $0.30 to $16 in a few months. I read the white paper published by the creator of the coin and tried to look using my electrical engineering background to understand how the technology could add value, its basically worthless. Those coins have less value than toilet paper really, at least that has some use. Idk feel like this will end badly


I understand a lot of people don't like the US government, but do you really want to "escape the oppressive US government" (yes, a lot of bitcoin maximalists think this way) into an asset controlled by, of all governments, CHINA???

Btc's main vulnerability is a 51% attack. Chinese miners control about 60% of the btc hash rate. Guess what these companies will do if the government tells them to do something? Exactly what they are told. Can't see how to recommend BTC to anyone around me
txhill
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by txhill »

Desx wrote: Tue Apr 13, 2021 8:57 pm I personally, as a young person whose friends buy crypto all the time, believe this fad will end someday, badly. My friends recently bought a coin that went from $0.30 to $16 in a few months. I read the white paper published by the creator of the coin and tried to look using my electrical engineering background to understand how the technology could add value, its basically worthless. Those coins have less value than toilet paper really, at least that has some use. Idk feel like this will end badly


I understand a lot of people don't like the US government, but do you really want to "escape the oppressive US government" (yes, a lot of bitcoin maximalists think this way) into an asset controlled by, of all governments, CHINA???

Btc's main vulnerability is a 51% attack. Chinese miners control about 60% of the btc hash rate. Guess what these companies will do if the government tells them to do something? Exactly what they are told. Can't see how to recommend BTC to anyone around me
I agree that when altcoins like Dogecoin and others are doing well, it's a clear sign of irrational exuberance. I would not be surprised to see a big bubble burst soon. But I think BTC and probably ETH and a handful of others will survive and do well in the long run. They have a clear value as a portfolio hedge--I definitely don't think they need to replace monetary systems in order to be a worthwhile investment. I'm not a maximalist; I think central bank digital currencies will pop up very soon and will serve a very useful purpose. But the platforms provided by ETH and other cryptos, and the portfolio hedging tool of BTC, make them very valuable in my view.

Re 51% attack: as the network grows, so will investment in hash rate around the world, especially hash rate powered by green sources of energy (which hopefully will help reduce BTC's currently terrible carbon footprint). Even if there is some risk in a 51% attack, I think the risk is both small and diminishing over time.
decapod10
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by decapod10 »

txhill wrote: Tue Apr 13, 2021 9:10 pm
Desx wrote: Tue Apr 13, 2021 8:57 pm I personally, as a young person whose friends buy crypto all the time, believe this fad will end someday, badly. My friends recently bought a coin that went from $0.30 to $16 in a few months. I read the white paper published by the creator of the coin and tried to look using my electrical engineering background to understand how the technology could add value, its basically worthless. Those coins have less value than toilet paper really, at least that has some use. Idk feel like this will end badly


I understand a lot of people don't like the US government, but do you really want to "escape the oppressive US government" (yes, a lot of bitcoin maximalists think this way) into an asset controlled by, of all governments, CHINA???

Btc's main vulnerability is a 51% attack. Chinese miners control about 60% of the btc hash rate. Guess what these companies will do if the government tells them to do something? Exactly what they are told. Can't see how to recommend BTC to anyone around me
I agree that when altcoins like Dogecoin and others are doing well, it's a clear sign of irrational exuberance. I would not be surprised to see a big bubble burst soon. But I think BTC and probably ETH and a handful of others will survive and do well in the long run. They have a clear value as a portfolio hedge--I definitely don't think they need to replace monetary systems in order to be a worthwhile investment. I'm not a maximalist; I think central bank digital currencies will pop up very soon and will serve a very useful purpose. But the platforms provided by ETH and other cryptos, and the portfolio hedging tool of BTC, make them very valuable in my view.

Re 51% attack: as the network grows, so will investment in hash rate around the world, especially hash rate powered by green sources of energy (which hopefully will help reduce BTC's currently terrible carbon footprint). Even if there is some risk in a 51% attack, I think the risk is both small and diminishing over time.
Also my understanding is that Proof of Stake networks are more resistant to 51% attacks, so Ethereum switching to POS would help in that regard (or if another network supplants Ethereum, most of the likely contenders use POS I believe).
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Corsair
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by Corsair »

All posts are my own opinions and are not financial advice.
Enganerd
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by Enganerd »

APX32 wrote: Tue Apr 13, 2021 5:53 pm
decapod10 wrote: Tue Apr 13, 2021 11:03 am BTC and ETH are at all time highs today, yet no posts here. What kind of "Bitcoin Continues to Soar!" thread is this? lol
It’s been a good past 6 months being in cryptos. It has accelerated my retirement by several years. I continue to take profits while maintaining a 5-8% in both BTC and ETH.

My other investments which is SPY and some individual stocks in my play account continue to do well also. It’s virtually impossible not to make money in this environment.

But there’s a bit hollowness to all of this, at least that’s how I feel about it. I can’t quite explain it, but I just have this concern that in about 3-4 years, my low-7 figure portfolio (assuming it stays that way) will be the least of my concerns.
Well said. I veered from my boglehead ways and allocated ~5% to bitcoin and now have a rather high% in btc due to its gains this years. While on paper that is great, I actually feel a bit anxious about the world and world economy as a whole. I don't know if I just further appreciate risk now or if things have changed. But I could not imagine having confidence in a 4% withdrawal rate anymore. Whether bitcoin continues to be adopted or it blows up and 10s of 1000s of very intelligent, productive, tech savvy Americans blame the CBs or government for ruining a "more fair, pure system" I feel like it is going to be disruptive to the point that our current portfolios are not as salient in providing security as they used to be.
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by JonnyDVM »

Anyone else do a spit take with their coffee this morning looking at the price of crypto ? Bitcoin $64,000!!!!
I’d trade it all for a little more | -C Montgomery Burns
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MinnGuyInvesting
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by MinnGuyInvesting »

JonnyDVM wrote: Wed Apr 14, 2021 6:42 am Anyone else do a spit take with their coffee this morning looking at the price of crypto ? Bitcoin $64,000!!!!
New High.
Ethereum is flying as well.
Index ETF's 42% |ARK Funds 33% | AAPL 4.7% | TSLA 2.4% | GOOGL 1.7% | AMZN 1.2% |Other stocks 5% | BTC/ETH 8% | | | Tracking my porfolio: https://www.bogleheads.org/forum/viewtopic.php?p=5745280#p5745280
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by JonnyDVM »

MinnGuyInvesting wrote: Wed Apr 14, 2021 7:25 am
JonnyDVM wrote: Wed Apr 14, 2021 6:42 am Anyone else do a spit take with their coffee this morning looking at the price of crypto ? Bitcoin $64,000!!!!
New High.
Ethereum is flying as well.
Almost all of them are flying
I’d trade it all for a little more | -C Montgomery Burns
Valuethinker
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by Valuethinker »

Enganerd wrote: Wed Apr 14, 2021 6:40 am
APX32 wrote: Tue Apr 13, 2021 5:53 pm
decapod10 wrote: Tue Apr 13, 2021 11:03 am BTC and ETH are at all time highs today, yet no posts here. What kind of "Bitcoin Continues to Soar!" thread is this? lol
It’s been a good past 6 months being in cryptos. It has accelerated my retirement by several years. I continue to take profits while maintaining a 5-8% in both BTC and ETH.

My other investments which is SPY and some individual stocks in my play account continue to do well also. It’s virtually impossible not to make money in this environment.

But there’s a bit hollowness to all of this, at least that’s how I feel about it. I can’t quite explain it, but I just have this concern that in about 3-4 years, my low-7 figure portfolio (assuming it stays that way) will be the least of my concerns.
Well said. I veered from my boglehead ways and allocated ~5% to bitcoin and now have a rather high% in btc due to its gains this years. While on paper that is great, I actually feel a bit anxious about the world and world economy as a whole. I don't know if I just further appreciate risk now or if things have changed. But I could not imagine having confidence in a 4% withdrawal rate anymore. Whether bitcoin continues to be adopted or it blows up and 10s of 1000s of very intelligent, productive, tech savvy Americans blame the CBs or government for ruining a "more fair, pure system" I feel like it is going to be disruptive to the point that our current portfolios are not as salient in providing security as they used to be.
https://www.amazon.com/Boom-Bust-Histor ... oks&sr=1-1

rest assured, we are privileged to witness yet another one of history's financial bubbles.

Financial bubbles, when they blow, can have wide ranging side effects. 2008-09 we are still dealing with the political, economic & social impacts. 1929 arguably brought on WW2 (because the Germans reacted with austerity, and that led right wing populist parties to get enough votes that they President felt compelled to put Hitler in as Chancellor, and the rest is history, as they say).

If there is leverage against an asset bubble, as there very clearly was in the case of the US housing bubble - 6 trillion or so of leverage - then the impact on the downside can be devastating. A negative multiplier on credit in the economy, leading to a collapse of real economic activity.

Similarly there was stock margin in 1929. Some speculators were leveraged 10:1. Now you know why the Fed watches stock margin like a hawk.

However in the case of bitcoin I doubt there is big money lent against it. A bunch of miners in China and Iran? Electricity demand of another Argentina?

So, like Australian diamonds in the early 1970s, or any number of booms and busts on the Vancouver Stock Exchange, this one will rise, become huge, and then collapse. Speculators will nurse losses.

The smart people are taking money off the table, now. Banking half their gains. When it's over they can still say they were better off.

Remember. The entire value of this thing is the presumption that someone else will take it off your hands for more. There is no underlying asset which pays dividends or cash flow to investors. There's no there there.

It's a carry trade asset - -borrow cheap in one place, and invest in Toronto houses (or bitcoin) somewhere else aka "the carry trade". Something that you buy if you are Turkish and you have negative interest rates and the President just fired the governor of the Central Bank. Dollar interest rates on short term money are negative after inflation, some borrowing rates are negative after inflation.
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by Valuethinker »

Desx wrote: Tue Apr 13, 2021 8:57 pm I personally, as a young person whose friends buy crypto all the time, believe this fad will end someday, badly. My friends recently bought a coin that went from $0.30 to $16 in a few months. I read the white paper published by the creator of the coin and tried to look using my electrical engineering background to understand how the technology could add value, its basically worthless. Those coins have less value than toilet paper really, at least that has some use. Idk feel like this will end badly


I understand a lot of people don't like the US government, but do you really want to "escape the oppressive US government" (yes, a lot of bitcoin maximalists think this way) into an asset controlled by, of all governments, CHINA???

Btc's main vulnerability is a 51% attack. Chinese miners control about 60% of the btc hash rate. Guess what these companies will do if the government tells them to do something? Exactly what they are told. Can't see how to recommend BTC to anyone around me
"Young Person" (;-) you will go far.

https://www.amazon.com/Boom-Bust-Histor ... oks&sr=1-1

This won't be the last financial bubble of your adult life. Ask your parents about everyone sucking themselves into the US housing boom 2001-06, and the aftermath. (The Canadian housing bubble, now, is worse and will end just as badly for Canadians).

But it might be the first such bubble.

Rest assured, often in life when there's a mad rush towards or away from something, you will test yourself "am I missing something important"? because you will not feel that emotional rush.

Quite possibly you are. I underestimated the effects of the internet, the mobile phone and the Covid-19 virus, even though I had thought about all 3 of them, read William Gibson Neuromancer in the 1980s, knew about the likelihood of a zoonotic virus epidemic, etc.

But sometimes you are not.

This is an interesting experiment in the effects of negative (after inflation) interest rates and the price momentum of something being used to justify an even price. Bitcoin et al are worth even more than their current price, because they have gone up a lot.
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by txhill »

Valuethinker wrote: Wed Apr 14, 2021 8:36 am
Desx wrote: Tue Apr 13, 2021 8:57 pm I personally, as a young person whose friends buy crypto all the time, believe this fad will end someday, badly. My friends recently bought a coin that went from $0.30 to $16 in a few months. I read the white paper published by the creator of the coin and tried to look using my electrical engineering background to understand how the technology could add value, its basically worthless. Those coins have less value than toilet paper really, at least that has some use. Idk feel like this will end badly


I understand a lot of people don't like the US government, but do you really want to "escape the oppressive US government" (yes, a lot of bitcoin maximalists think this way) into an asset controlled by, of all governments, CHINA???

Btc's main vulnerability is a 51% attack. Chinese miners control about 60% of the btc hash rate. Guess what these companies will do if the government tells them to do something? Exactly what they are told. Can't see how to recommend BTC to anyone around me
"Young Person" (;-) you will go far.

https://www.amazon.com/Boom-Bust-Histor ... oks&sr=1-1

This won't be the last financial bubble of your adult life. Ask your parents about everyone sucking themselves into the US housing boom 2001-06, and the aftermath. (The Canadian housing bubble, now, is worse and will end just as badly for Canadians).

But it might be the first such bubble.

Rest assured, often in life when there's a mad rush towards or away from something, you will test yourself "am I missing something important"? because you will not feel that emotional rush.

Quite possibly you are. I underestimated the effects of the internet, the mobile phone and the Covid-19 virus, even though I had thought about all 3 of them, read William Gibson Neuromancer in the 1980s, knew about the likelihood of a zoonotic virus epidemic, etc.

But sometimes you are not.

This is an interesting experiment in the effects of negative (after inflation) interest rates and the price momentum of something being used to justify an even price. Bitcoin et al are worth even more than their current price, because they have gone up a lot.
This is precisely how I thought about bitcoin during the 2017 run up and bust. I thought I was completely right about it--just another beanie baby fad, it'll vanish now. Then it came back and this time with institutional support. I've changed my position on it; it seems likely to stick around, and the amount of intellectual capital devoted to bitcoin, ethereum, and other cryptocurrencies reminds me a lot of the internet in the 1990s. A lot of people thought they were geniuses for avoiding the 2000 dot com bust--probably Buffett felt pretty good about himself even. And then those same people missed the seismic shift in the economy toward internet-native companies. It turned out that 2000 was just a blip along the way to exponential growth, and an investment in QQQ (tracking Nasdaq) would have done far far better than Berkshire for example, or even the S&P 500.

The difficult thing is determining whether something is a bubble or the early stages of exponential growth. They look exactly the same. But not only do I think bitcoin is in principle an extremely sound concept, it's also where a huge amount of innovation is happening. I don't think this is a fad that's going to fade away.

All that said: there is a huge amount of irrational exuberance in the space, so I think there will be a boom/bust again, especially in all the altcoins like Dogecoin. Those altcoins seem driven by retail irrationality. But I think the space as a whole will grow rapidly, so I'm in it for the long haul.
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by Prahasaurus »

Always good to check back here on occasion and measure sentiment. Glad to see few have grasped what is happening in crypto, and continue to refer to it as a bubble with no underlying value being created. Excellent! It means we still have a long way to go in this bull cycle. Carry on!
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Re: Cryptocurrency - Bitcoin Continues to Soar!

Post by Fudgie »

Prahasaurus wrote: Wed Apr 14, 2021 8:48 am Always good to check back here on occasion and measure sentiment. Glad to see few have grasped what is happening in crypto, and continue to refer to it as a bubble with no underlying value being created. Excellent! It means we still have a long way to go in this bull cycle. Carry on!
Hi! I would LOVE an explanation, if you're willing to give it. I am definitely failing to grasp it. When you hear hordes of 20-35 YO talking about retirement by year's end, it's very difficult not to think bubble. I'm not the smartest man in the world, so it wouldn't be the first time I failed to grasp a sound idea! I bought $20-something of BTC back in October, and it's up to $120 this morning. Alas, the rest of my portfolio has not experienced similar growth. Why all in on Crypto, and why Bitcoin, in particular? 🙃

Thanks!
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