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On January 11 2021 19:14 pmh wrote:Show nested quote +On January 09 2021 11:02 iPlaY.NettleS wrote:On January 09 2021 02:07 zvx wrote:
finally happening, it only took 12 years for the financial industry to figure out there isn't much BTC left.
Its bitter sweet because i know so many people that got wrecked playing this market.
Take it from me, i've learnt this BTC is really a long term game, its not different from playing long game terran in sc, just slow, lock down the expansions down and you will win.
do the math, 21 million BTC, with many lost forever and many already bought up by longer term holders, this things going above 100k and will be future savings technology.
gl and gg, were going to the moon! It's a speculative bubble, you can make money if you time it right but you could also lose your shirt. ![[image loading]](https://i.ibb.co/HCQd8f1/bitcoin-mother-of-all-bubbles.jpg) I have investments in crypto but also shares, physical precious metals and property.All the 'Moon' stuff i am seeing from crypto bugs screams bubble to me.And after looking into how tether is propping up the market and watching XRP collapse 70% due to lawsuits that just adds to that feeling. BTC has the name recognition but it's a bad crypto due to slow transaction speeds and high transaction fees (currently around $10-15 per transaction yes?).Even in crypto space, far better options long term IMO. Lol that chart,its very deceptive. Why does the tech part of that chart (nasdaq) end in 2003? The nasdaq is still there and is now 3 times higher then the peak of 2000. And the same goes for other parts of that chart like gold,china or us housing. Their price development didnt stop at the end of their "bubble".
Because that's the general consensus as to when those bubbles were over? The dot com bubble popped in 2000-01 and caused the recession of 2002-3, the housing bubble popped, prices cratered and that caused the GFC of 08-09.And the Nikkei took 29 years to reach its 1991 peak, gold took 28 years to top it's 1980 peak.
This doesn't matter since the chart is more to show the size of the bubble and how fast it reached peak, not to chart the ups and downs over 20-40 years.
There is a FANG line that partially charts modern Nasdaq there though.
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On January 11 2021 19:29 iPlaY.NettleS wrote:Show nested quote +On January 11 2021 19:14 pmh wrote:On January 09 2021 11:02 iPlaY.NettleS wrote:On January 09 2021 02:07 zvx wrote:
finally happening, it only took 12 years for the financial industry to figure out there isn't much BTC left.
Its bitter sweet because i know so many people that got wrecked playing this market.
Take it from me, i've learnt this BTC is really a long term game, its not different from playing long game terran in sc, just slow, lock down the expansions down and you will win.
do the math, 21 million BTC, with many lost forever and many already bought up by longer term holders, this things going above 100k and will be future savings technology.
gl and gg, were going to the moon! It's a speculative bubble, you can make money if you time it right but you could also lose your shirt. I have investments in crypto but also shares, physical precious metals and property.All the 'Moon' stuff i am seeing from crypto bugs screams bubble to me.And after looking into how tether is propping up the market and watching XRP collapse 70% due to lawsuits that just adds to that feeling. BTC has the name recognition but it's a bad crypto due to slow transaction speeds and high transaction fees (currently around $10-15 per transaction yes?).Even in crypto space, far better options long term IMO. Lol that chart,its very deceptive. Why does the tech part of that chart (nasdaq) end in 2003? The nasdaq is still there and is now 3 times higher then the peak of 2000. And the same goes for other parts of that chart like gold,china or us housing. Their price development didnt stop at the end of their "bubble". Because that's the general consensus as to when those bubbles were over? The dot com bubble popped in 2000-01 and caused the recession of 2002-3, the housing bubble popped, prices cratered and that caused the GFC of 08-09.And the Nikkei took 29 years to reach its 1991 peak, gold took 28 years to top it's 1980 peak. This doesn't matter since the chart is more to show the size of the bubble and how fast it reached peak, not to chart the ups and downs over 20-40 years.There is a FANG line that partially charts modern Nasdaq there though.
Well then the same could be said when btc felt back from 1000 to 200. Thats an 80% drop which was a far bigger drop then the drop in us housing 2008,gold in 1980 or the nasdaq in 2003.
But btc did go up again and the drop to 200 wasnt the end of the bubble nor was the drop in the nasdaq in 2003 or gold in 1980 the end of the "bubble".
The charts arbitrarely picks a few points to show previous peaks in other markets and then out of convenience forgets what did happen afterwards. (what if they made this chart right after btc did drop from 1000 to 200,to show the bubble? )
Its very easy to do in hindsight and thats why i find this chart very misleading.
Thats not to say that i dont agree that btc is in some ways the ultimate bubble,but when or even if the "bubble" ends is difficult to say.
"This doesn't matter since the chart is more to show the size of the bubble and how fast it reached peak, not to chart the ups and downs over 20-40 years."
With this i can agree,still i think if you make such a chart then you should show the whole chart of the other markets and not pick an arbitrary cut off point to make a point which is very easy to do in hindsight. btc cant really be compared to any of the other markets since they have real commodities or real scarcity,some of which generate a yearly return,behind them.
Maybe the best comparision would be the tulip bubble in the netherlands which started shortly after 1600,though btc as a commodity is in many ways very different from tulips and is unlikely to end in the same way.
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The inflation adjusted peak gold price is still 1980 so I can't see how that wasn't the peak of a bubble? 20 years later it was still 70% below nominal peak.
All things will eventually rise over their old nominal price due to inflation and easy money but BTC is rising too fast compared to other assets and commodities right now.Its up 400% in 9 months so it's due a correction like I said.If people want to get caught up in the mania go for it, like I said I'm in crypto just no longer Bitcoin core.Fiat hedge.
With this i can agree,still i think if you make such a chart then you should show the whole chart of the other markets and not pick an arbitrary cut off point to make a point which is very easy to do in hindsight.
Even on the chart i posted BTC only starts in 2019.
Start it from 2009 - Bitcoin went from under $1 to $42,000 so you'd need a whole other scale for it on a longer term chart.
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Naniwa and Scarlett won a few Bitcoins in Bitcoin starcraft challenge 2013. Nani won 11BT back then, this would mean ~400k usd today (tax free in germany after one year).
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On January 12 2021 19:08 Dingodile wrote:Naniwa and Scarlett won a few Bitcoins in Bitcoin starcraft challenge 2013. Nani won 11BT back then, this would mean ~400k usd today (tax free in germany after one year).
I wonder if he kept all those bitcoins. It could even amount of 11 million dollars if the crazy predictions come true.
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On January 12 2021 19:12 elKa-ThE-FeArEd wrote:Sziky , Kolll , Jumper and Hejek won 25 btc in 2011  AoV iCCup StarLeague
if they held and forgot about them, they got paid more then the 1st-4th
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New US Treasury Sec Yellen wants to curtail use of cryptocurrency.Like I said before hard to project long term prices and which coins will succeed when there is risk of regulation or ban attempts in future.
Https://markets.businessinsider.com/currencies/news/bitcoin-price-cryptocurrency-should-be-curtailed-terrorism-concerns-yellen-2021-1-1029985692
Treasury nominee Yellen is looking to curtail use of cryptocurrency
Yellen argues many cryptocurrencies are used "mainly for illicit financing."
"You're absolutely right that the technologies to accomplish this change over time, and we need to make sure that our methods for dealing with these matters, with terrorist financing, change along with changing technology," Yellen said.
"Cryptocurrencies are a particular concern. I think many are used - at least in a transaction sense - mainly for illicit financing.
"And I think we really need to examine ways in which we can curtail their use and make sure that money laundering doesn't occur through those channels."
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Australia13433 Posts
Because no one uses the USD for illicit financing... 
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I was looking to buy some chainlink, what should I get for a wallet, where should I buy it etc?
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Get a coinbase and coinbase pro account and buy it there. Safest exchange.
If you’re going to invest more than an couple thousand, I would suggest buying a Ledger Nano or a Trezor and taking it off the exchange.
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On January 19 2021 13:47 art_of_turtle wrote:if they held and forgot about them, they got paid more then the 1st-4th
25 bitcoin today would be 842.295$ so yeah, a lot more than 1st-4th
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On February 01 2021 18:50 Geiko wrote:
Get a coinbase and coinbase pro account and buy it there. Safest exchange.
If you’re going to invest more than an couple thousand, I would suggest buying a Ledger Nano or a Trezor and taking it off the exchange.
Ehh as a US user, I prefer Gemini, they have Chainlink as well, and I think they're much saafer than Coin Base which I've never had a good time with.
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Gemini does have a bit more options and was pretty easy to setup. I just got myself going on it today.
I have a decent bit in holdings in coinbase now and another decent bit spread out. Coinbase from my initial impression feels a bit clunky and dated, but is quite usable.
This year could be very interesting ride for crypto, and I have been strapped in for a bit now.
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On February 13 2021 11:02 Tictock wrote:
Gemini does have a bit more options and was pretty easy to setup. I just got myself going on it today.
I have a decent bit in holdings in coinbase now and another decent bit spread out. Coinbase from my initial impression feels a bit clunky and dated, but is quite usable.
This year could be very interesting ride for crypto, and I have been strapped in for a bit now.
Coinbase is horrible. The fees are utterly absurd, consistent outages, etc. Binance and FTX are both clearly better options if you're looking to do any form of trading, and still pretty obviously better if you just want to buy and hold.
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On January 11 2021 19:53 iPlaY.NettleS wrote:The inflation adjusted peak gold price is still 1980 so I can't see how that wasn't the peak of a bubble? 20 years later it was still 70% below nominal peak. All things will eventually rise over their old nominal price due to inflation and easy money but BTC is rising too fast compared to other assets and commodities right now.Its up 400% in 9 months so it's due a correction like I said.If people want to get caught up in the mania go for it, like I said I'm in crypto just no longer Bitcoin core.Fiat hedge. Show nested quote +With this i can agree,still i think if you make such a chart then you should show the whole chart of the other markets and not pick an arbitrary cut off point to make a point which is very easy to do in hindsight. Even on the chart i posted BTC only starts in 2019. Start it from 2009 - Bitcoin went from under $1 to $42,000 so you'd need a whole other scale for it on a longer term chart.
This does not follow. Given previous BTC trends around halvings and other things, it's likely there will be a correction, but it doesn't change the fact it's been returning an average 300% per year since it's inception.
The primary reason it doesn't follow that it's a bubble is because there are other options. The most obvious being that we are currently in a monetary transition, the last of which occurred around 5000 years ago. In such a case, all the value in other asset classes begins to flow, rather permanently, into the new asset class. It's from these arguments that you see people speculating long term prices for BTC on the order of $2M to $15M per coin.
I'm presuming you're not partial to that line of reasoning, but you certainly haven't done anything to disprove that line of reasoning (fwiw I don't think that is possible), and thus it's not a reasonable conclusion to say "BTC going up too fast = bubble".
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It's exhibiting all the signs of a mania bubble, like the dotcom bubble.How else can you explain Dogecoin becoming the 7th highest market cap crypto, when it was #45 two weeks prior? Dogecoin was created in 3 hours as a joke.
What I said was it's hard to know which cryptos will fail and which will succeed and that governments could attempt to ban them.I agree there is a reshuffling of the monetary system but you think the central banks will just allow these unregulated decentralised cryptos to just take over while they lose control?
Now if you look back over the past 3 weeks the governments of both India and Nigeria have announced they want to ban/crack down on cryptos.Thats over 1.5 billion people. https://www.coindesk.com/india-and-nigerias-crypto-crackdowns-continue-old-trends
I've already posted links showing Treas sec Yellen wants to regulate the crypto market more in the US.
Invest, but don't pretend there is no risk.
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On February 14 2021 20:02 iPlaY.NettleS wrote:It's exhibiting all the signs of a mania bubble, like the dotcom bubble.How else can you explain Dogecoin becoming the 7th highest market cap crypto, when it was #45 two weeks prior? Dogecoin was created in 3 hours as a joke. What I said was it's hard to know which cryptos will fail and which will succeed and that governments could attempt to ban them.I agree there is a reshuffling of the monetary system but you think the central banks will just allow these unregulated decentralised cryptos to just take over while they lose control? Now if you look back over the past 3 weeks the governments of both India and Nigeria have announced they want to ban/crack down on cryptos.Thats over 1.5 billion people. https://www.coindesk.com/india-and-nigerias-crypto-crackdowns-continue-old-trendsI've already posted links showing Treas sec Yellen wants to regulate the crypto market more in the US. Invest, but don't pretend there is no risk.
Absolutely there is risk. Couldn't agree more. Nothing is risk free.
Strong agreement with the signs of the mania bubble. Now look bigger beyond crypto to all markets...
A single black lotus sold for 500k. Pokemon cards, magic cards, all kinds of rare collectibles are selling like crazy.
This is inflation happening. It's the story of a currency failing to retain value. The most powerful currency of our lifetime is losing value fast. Others even faster. The real lost 128%.
All this money has NO idea where to go. Its bought doge, its bought GME, its bought AMC. The wealthiest man in the world is desperate enough to have bought a speculative asset that has existed for just 12 years.
There's a value war happening. Bitcoin is one of the contenders. Gold is fighting. Yuan is fighting. Petro-dollar is fighting. Silver is fighting.
Truth is, no one knows how fast it will be. No one knows where to throw money to survive the transition. We should be afraid. War does not determine who is right, only who is left.
It will get worse before it gets better.
African currencies have already started to fall.
Even if you were in ETH, and BTC, and so far this has been good for you, you'll soon notice you don't have a hedge that is easy and obvious.
All the capital is bouncing around like a drop of water in overheated metal. Some markets are overbought. But you don't know which. Could be real estate. Could be Gold. Could be Crypto.
It will get worse before it gets better. Inflation isn't coming. It's here.
I wish I knew what to do. My guess is BTC but I don't think anyone actually knows.
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EPT
