[lkagele]

Originally Posted by Malsua

Except the Eth gas prices. Sheesh.

I know what you mean. Been trying to buy a small position ($250 +/-) for a couple of days now. Gas fees quoted have been as high as $525. Today, still at $60 which is still too high. I'll just keep trying.

[tophcfa]

Originally Posted by DylanTodd

I am with Malsua, I had picked up some Elon-gate, worth way less than a penny and I think I have 1 mil plus of it. It's a silly meme coin like Doge, if the Elon crazies get ahold of this one it would be a healthy pay off, well worth the $250 risk.

After trying to watch the Elon Clown on Saturday Night Live attempting to explain what a digital currency is, I think the smart money would short the intangible digital asset that is backed by nothing.

[DaddyD]

Originally Posted by Boston-Sean

I cam across an interesting theory about how Central Banks view Bitcoin.

The theory is that CB's are happy to have the Crypto market to function as a release valve while the CB's print endless amounts of Fiat currency. Without the Crypto markets all that money ($2 trillion) would be flowing into "real" asset classes like real estate and the stock market thereby inflating bubbles the CB's have difficulties deflating.

Crypto Bubble(s) would seem to have little effect on the real economy unlike things like a real estate bubble.

That's the theory for how they view it now, while they are printing fiat.

If\When they stop printing fiat the theory goes that the CB's will turn on Bitcoin and fight against it.

Not that they'll be able to do anything.

Really interesting theory--please post any links you can find discussing this theory.

[DaddyD]

Originally Posted by tophcfa

After trying to watch the Elon Clown on Saturday Night Live attempting to explain what a digital currency is, I think the smart money would short the intangible digital asset that is backed by nothing.

Presumably you understand that that was a SNL comedy sketch, not an honest attempt at explaining crypto.

Not all crypto is created equal...but yea, Doge is a hustle. But that doesn't mean it won't moon once it gets listed on Coinbase in a few weeks.

[Koapaka]

Originally Posted by Malsua

This is a result of the threat to BTC whales by the current administration proposal on capital gains .

If I were sitting on a pile of BTC, I'd be attempting to unwind some of it now at the current rate.

It's also a good time to buy some BTC relative to the recent market, so I bought $100 this morning. heh.

It's all speculative to me, so I'm not particularly worried if it drops back significantly.

I believe it will drop back to the $30-33K range before rallying forward again. I can certainly live with that given we initially bought less than $3K per Bitcoin. HODLING for sure....corrections are not ONLY in Cryptos......jumping on the Dogecoin now for some REAL gains.

[Malsua]

Originally Posted by Koapaka

I believe it will drop back to the $30-33K range before rallying forward again. I can certainly live with that given we initially bought less than $3K per Bitcoin. HODLING for sure....corrections are not ONLY in Cryptos......jumping on the Dogecoin now for some REAL gains.

I _wish_ I had jumped in bigger on my Doge holding. Coinbase is 6-8 weeks from listing it.
It will go up once it's on Coinbase. Like it or not, it has a large enough market cap right now to be a real player. It could easily see $1.50. If the devs built any kind of deflationary mechanisms into it, it could really appreciate well past that number. As it stands there's just so many circulating Doge (and more mining every day) that to hit a stupid number like $5 it'd have to supplant BTC and I don't see how that's possible.

That said, Musk did tweet he'd like to see the block size go up, the transaction time go down and the transaction fees go down a lot. This would make Doge a good bet for micro-transactions. Litecoin was built for this reason. Doge is a fork of litecoin, which was a fork of Lucky coin and ultimately a fork of BTC.

For these reasons, Doge will probably spike to $1 this year before a big pullback as people start selling at limits approaching $1.

[DaddyD]

Originally Posted by Koapaka

I believe it will drop back to the $30-33K range before rallying forward again. I can certainly live with that given we initially bought less than $3K per Bitcoin. HODLING for sure....corrections are not ONLY in Cryptos......jumping on the Dogecoin now for some REAL gains.

The day / week is far from over, but based on the market movement over the last 12 hours, if you started a paid btc newsletter, I'd likely subscribe! Nice call!!

Did you grab some sub $0.30 doge??

[rustyp]

"Black Wednesday" is the new "Black Thursday."

The cryptocurrency market is in the middle of a massive meltdown that could rival the pandemic-driven crash that took place on March 13, 2020. Plenty of the top altcoins have erased more than half of their value in less than 24 hours.

ADA and XRP have both plunged below the $1 level. Meanwhile, Dogecoin dipped to $0.21.

[Koapaka]

Originally Posted by DaddyD

The day / week is far from over, but based on the market movement over the last 12 hours, if you started a paid btc newsletter, I'd likely subscribe! Nice call!!

Did you grab some sub $0.30 doge??

As a matter of fact, no....but did get at 0.37. The bounce in BC has begun from that level, but hold on because I believe soon we will see it down to close to $20K per BC because of Chinas influence on the price. They are trying HARD to replace the USD with their Crypto Yuan....very few bother to see the implication of their influence on world currencies and finances.....but once it recovers to maybe $45K I think you are going to get the "keep people out of the market" manipulation. When people tell me BC is not a "real" currency, I remind them that it takes a LOT of their fiat to buy ONE of my BC. I will be buying a lot more when it gets close to that $20K mark.....but from there it is going to be solid for a while.

[Catalina36]

STAY FAR AWAY FROM CRYPTO CURRENCY, its a big scam like a pyramid ready to fall.
Of course many people made money because they got out quickly. Talk about gambling with your money??

[Brad-tv]

Anyone buy more crypto during the fire sale yesterday?? The sale is still going discounts are shrinking!!

Nice rebound!!

[STLRAY]

I wonder about all of the new crypto out there. Basically, anyone with enough computer skills can create their own currency and when a million people all over the world do this, I wonder if the whole thing vanishes. I do wish my friends who are into crypto the best of luck, but I will be watching from the sidelines.

[Brad-tv]

Safemoon is the new hot crypto now getting all the hype but is a huge hassle to buy and a little sketchy. I know a lot of younger people who are buying it but seems super risky

[DaddyD]

Originally Posted by Koapaka

As a matter of fact, no....but did get at 0.37. The bounce in BC has begun from that level, but hold on because I believe soon we will see it down to close to $20K per BC because of Chinas influence on the price. They are trying HARD to replace the USD with their Crypto Yuan....very few bother to see the implication of their influence on world currencies and finances.....but once it recovers to maybe $45K I think you are going to get the "keep people out of the market" manipulation. When people tell me BC is not a "real" currency, I remind them that it takes a LOT of their fiat to buy ONE of my BC. I will be buying a lot more when it gets close to that $20K mark.....but from there it is going to be solid for a while.

Couple things:
1) After I made the post on here I logged into my gemini account and put in a limit buy order for doge @ $0.30 (even though i swore I'd never buy doge or any other crap coins). Dang if it didn't fill later that day! I'm not into trading crypto (strictly buy & hold) but I assume doge price will pump when coinbase adds it their exchange soon, so just gambling with that.

2) I hear what you're saying with regard to China, but it's my understanding that they hold a @#$%load of U.S. dollars. I get it that China's leaders are playing long game and surely want to be THE World Superpower, but I question whether their intentionally taking the dollar is actually in their best interest.

3) Is BTC a "currency" (it's initial use case) or has it transitioned to a "store of value"? Like gold, there's pretty much nothing you can buy with BTC w/out first transferring it to fiat.

4) What's your take on ETH?

[Koapaka]

Originally Posted by DaddyD

Couple things:
1) After I made the post on here I logged into my gemini account and put in a limit buy order for doge @ $0.30 (even though i swore I'd never buy doge or any other crap coins). Dang if it didn't fill later that day! I'm not into trading crypto (strictly buy & hold) but I assume doge price will pump when coinbase adds it their exchange soon, so just gambling with that.

2) I hear what you're saying with regard to China, but it's my understanding that they hold a @#$%load of U.S. dollars. I get it that China's leaders are playing long game and surely want to be THE World Superpower, but I question whether their intentionally taking the dollar is actually in their best interest.

3) Is BTC a "currency" (it's initial use case) or has it transitioned to a "store of value"? Like gold, there's pretty much nothing you can buy with BTC w/out first transferring it to fiat.

4) What's your take on ETH?

1)--Great news, you got a steal. Yes, I think with Coinbase recognizes them, you will see at least $1-$1.25 pump before initial profit taking.

2) You are correct on the USD that China holds and how it could be counterproductive, but as fiat erodes (and we are seeing it do so quickly into early 2021 with inflation, supply chain shortages, etc), it is kinda with having made a bad loan position, you shift anything and anything you can (i.e, tax write off) to help offset that loss. I personally feel they are in that redistribution mode now, and cryptos are the easiest way to do it from behind the focus of stocks/USD related transactions that are daily scrutinized by those in charge of the Central Bank communities.

It is important to remember there is a HUGE community (folks our ages mostly) that are very much against/opposed to "crypto" that are sitting on HUGE nest eggs. Those assets will be passed on to our kids/grands. The vast majority of folks in our age group think "crypto is dangerous but the stock market is not" based on history of performance. Well folks, we have made more in crypto profits (or gains I should say, you never record a "profit" or "loss" until you sell, right?) In the 7 years that I have "dabbled" in crypto's we have profited more than our entire working life with a minimum of 6% and a maximum of 25% of our pre taxed income put into savings (some of it matching contribution from employer) during our collective 72 yr working life. The money I "play" with in crypto is to pass on to grands, our kiddos get the rest of the assets.

3) I believe (JMHO) that you are about to see employees get the option of being paid in cryptos or USD. I also believe that we are less than 3-5 yrs away from seeing people be able to "borrow against vs sell" their cryptos as need arises. In my opinion that classifies it as true "assets". This is the wave of the future, this is the equivalent to our children watching us get pensions vs them only getting 401K for retirement portion of our lives. Not unlike the early 90's and those of us that said "what the hell is internet and why would we ever need it?".....times evolve. You try and keep up, or you fall behind. (I realized that when I totally fought the internet thingee for years.....that was my Ahhh-Haaaa experience).

On the PM basis, there are two very different types. IF you own and HOLD precious metals, it is WAY different than if you own and hold stocks.....PHYSICAL is convertible, paper is paper.

4) ETH is SOLID. One of my major holdings, much cheaper on transaction (as is Litecoin) than BC.

I laugh when I think how many of us old farts that think "cryptos are dangerous" have no idea how what we leave behind to those we love will be converted to Block Chain Technology based currencies.

HAVE AN AWESOME FRIDAY!