Is anyone else starting to become a bit worried? mod note in first post

Irish_rat

antgal23 wrote: »

Am I starting to get a but worried? No

A bit cautious, yes.

I don't plan on holding a bag of crypto when the market crashes, and it will crash.

New people will learn expensive lessons when they get their faces ripped off.

I am not going to argue with the fact that the market will reach higher highs after it crashes but that process will take years, just like it did in 2013 , 2017 and in 2021.

The emotions and hysteria on Twitter and forums is borderline childish.

In a zero sum game somebody has to lose

The strategy I'm working with is to dca in and not go mad. Then is there is a massive dip I'll have enough savings in fiat to buy everything cheap.

Im not selling anything

CorkRed93

any more on the NYAG v Tether case? been waiting for a verdict on that before getting involved.

Stormington

CorkRed93 wrote: »

any more on the NYAG v Tether case? been waiting for a verdict on that before getting involved.

Expect nothing until BTC hits 63k ish.

tcawley29

Did anyone ever get anything back from cryptopia

Irish_rat

For the Bitcoin maxi's in here which I know there is a few.

Bitcoin Will Die The Minute An Altcoin Flips It, Cardano Founder Says

"Bitcoin is only valuable because it’s valuable. It has no technological advantages. In fact, it’s the least advanced of all cryptocurrencies, the least futuristic. There is no reason for it other than the fact that it exists."

"The minute that it gets flipped by another cryptocurrency, unless they can find a way to innovate again, Bitcoin will die because there is no reason to hold it over its neighbors."

“Bitcoin lost some of its earliest and best people over just the block size-a system parameter. It just tells you, if you can’t even agree on something so trivial as a block size, then how do you get post-quantum crypto when quantum computers come,? How do you get smart contracts?”

Source

Nermal

Irish_rat wrote: »

it's the least advanced of all cryptocurrencies

Translation: it's the most proven.

grindle

Nothing they don't know already. Bitcoin is still "the brand" of crypto no matter how useless it is and the fact it's largely been taken over by a single company doesn't seem to matter. Narrative has changed from "bank the unbanked" P2P currency to a store of value only rich people can move around when it's busy - it all makes no difference as long as BTC is the brand people pour money into.

It's interesting as an ongoing experiment into how far a brand and social engineering can take a groundbreaking idea that's intentionally hobbled.

cnocbui

Irish_rat wrote: »

For the Bitcoin maxi's in here which I know there is a few.

Source

So by that logic, Cardano will die if another POS flips it, right? As just happened when Polkadot flipped Cardano. Bitcoin capitalisation is 62% of the crypto market - 4 times that of Etherium, it's closest rival and so far higher than Cardanos 2.6% it's not funny.

Bob24

Irish_rat wrote: »

For the Bitcoin maxi's in here which I know there is a few.



Source

He is omitting many points whereby bitcoin has strong advantages, but I think a key one is that thanks to being the original cryptocurrency and given the mystery around its creator (as well as sticking to basic functionality) BTC is more neutral than any other cryptocurrency around.
I.e. no single person or centralised entity is trying to gain financial or social/political leverage from it.

A simple illustration is that there is no single front man or front women regularity representing bitcoin in the media and saying “my cryptocurrency will prevail” (while the very article your posted demonstrates that the same isn’t true of Cardano).

This type of neutrality and simplicity (meaning security) is critical in the context of a digital gold narrative.

It doesn’t mean other cryptos can’t become very successful and even potentially grow a larger market cap than bitcoin. But that would most likely be based on different use cases, and saying Bitcoin would necessarily die as a consequence is quite a bit of a stretch IMO.

makeorbrake

Irish_rat wrote: »

For the Bitcoin maxi's in here which I know there is a few. Bitcoin Will Die The Minute An Altcoin Flips It, Cardano Founder Says

As an enthusiastic btc minimalist, I find Hoskinson to be a credible figure. However, I listened to the podcast where he expressed that view and I'm inclined to disagree.

BTC is deliberately limited in what it can do - that's by design. It's found at least one of its use cases. It can also act as a settlement layer when it comes to large capital movements. It may still garner relevance as we go forward for micro-transactions via layer 2 (albeit I accept this remains much less clearcut).

I honestly think that it has achieved network effect already. Its narrative is easy to understand (which is important in terms of perception and take-up). Ethereum (and Cardano, Polkadot, etc.) have far more potential in very different ways - with the ability to underpin the rebuilding of entire financial systems. However, the narrative is not clearly defined yet - and they're still not there yet (even if they're well on their way).

Long story short, I think his project and some of the others have every chance of being incredibly successful. However, I don't see them as playing in the same arena as btc - so don't even understand how this comparison is always made.

antgal23

Hope lads didn't take a hiding today

Interesting to note where some coins found support

Big Round Numbers
Link - 25

BTC - 50 ish

ETH - 15

cnocbui

antgal23 wrote: »

Hope lads didn't take a hiding today

Interesting to note where some coins found support

Big Round Numbers
Link - 25

BTC - 50 ish

ETH - 15

Nope. Thanks for your concern.

Thargor

This return to last weeks prices has probably ruined a few lives though.

Irish_rat

antgal23 wrote: »

Hope lads didn't take a hiding today

Gotta love the bears.

It's not that dreadful yet.

Rob2D

Irish_rat wrote: »

It's not that dreadful yet.

Look again. Ouch. Painful drop last night.

Bob24

Rob2D wrote: »

Look again. Ouch. Painful drop last night.

BTC price is currently about the same as it was 7 days ago.

(not ignoring the flash-crash or saying it can't go further down, but just to put things in perspective)

Rob2D

Bob24 wrote: »

BTC price is currently about the same as it was 7 days ago.

(not ignoring the flash-crash or saying it can't go further down, but just to put things in perspective)

Oh for sure. I'm still in a nice profit but it's always hard to watch that profit go down 8K over a single weekend :pac::pac:

But I'm holding until next year. Rain or shine.

AH92

If the dips continue and we get a bear market I'll just keep having nibbles of BTC , ETH and LINK.

dirk_dangler

Its no doubt painful at first look, but then pull out on the charts and i see i'm up still 13% for the month, panic not needed.......yet

makeorbrake

PSA: It's with a heavy heart that the Makeorbrake household would like to confirm that we won't be vacationing in the South of France this Summer.

seannash

makeorbrake wrote: »

PSA: It's with a heavy heart that the Makeorbrake household would like to confirm that we won't be vacationing in the South of France this Summer.

I feel this. I pulled most out though and I'm waiting to see where it is around 1pm today. Can still get the attic converted and a few other pricey bits done around the house with just profits so I'm happy enough. Keeping a good chunk in it too. My ADA stash is still there. I wont be touching that for another while

CorkRed93

Interesting.
https://twitter.com/LucaLand97/status/1364204968069238788

tcawley29

tcawley29 wrote: »

Did anyone ever get anything back from cryptopia

bump

unkel

tcawley29 wrote: »

bump

I tried to gain access again to prove I was me when that process opened up a few months ago. Had to answer a load of questions online, but how the hell would I remember what balances I had or what trades I made when?

I failed the test, so I have no access. Thankfully I had feck all on the exchange, maybe worth €30 or so

tcawley29

unkel wrote: »

I tried to gain access again to prove I was me when that process opened up a few months ago. Had to answer a load of questions online, but how the hell would I remember what balances I had or what trades I made when?

I failed the test, so I have no access. Thankfully I had feck all on the exchange, maybe worth €30 or so

That was my problem. I haven't a clue of the balances.

However what I did have with them was DOGE coin which has massively appreciated in value since I bought it.

Would I have been getting todays value or whenever GT took it over?

unkel

Access to your coins. So today's value. Perhaps discounted with the share of the overall loss that the company made when it went belly up and the costs of the liquidators, any preferred creditors like the revenue, etc.

Anyway, I don't know but I presume above as that's roughly the way it works with "normal" companies that are liquidated

Dades

I don't fancy my chances of them giving me access when I do get to the question stage.

I had a lot of Dogecoin on Crytopia.

tcawley29

Surely they can't be allowed to do this. Whats wrong with emails and passwords?

What happens our funds if we don't/can't claim them?

unkel

tcawley29 wrote: »

What happens our funds if we don't/can't claim them?

It will be eaten up over time by the consultancy fees from the liquidator firm(s), the billable hour clock keeps ticking...

Unless you can access it now, grab what you can and run. Otherwise I'd say forget about what you had there and write it off.

DyldeBrill

Does anyone know the best platform to buy Rubic (RBC)?

Looking at a few but will take any suggestions.

How is everyone's crypto going at the moment. I sold all of my BC, ETH (way too early but a profit nonetheless).

I have very little in crypto now currently. Have bought 2 Litecoin for the long term and spread the rest over XLM & GRT. I'm not looking for a quick profit earner - more a slow burner that will pay off :-)