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Is anyone else starting to become a bit excited?

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  • Closed Accounts Posts: 3,502 ✭✭✭ Addison Fancy Macrame


    Funny guy!


  • Banned (with Prison Access) Posts: 186 ✭✭ Kickstart1.3


    The John DeLorean of our day.
    No I'll keep my cash away from Ethereum. It's had its day during the token boom of 2017, which was about all it was good for if that was even a good thing.


  • Registered Users Posts: 15,786 ✭✭✭✭ Dohnjoe


    The John DeLorean of our day.
    No I'll keep my cash away from Ethereum. It's had its day during the token boom of 2017, which was about all it was good for if that was even a good thing.

    BAT, OmiseGo, Maker, etc - 90% plus of the top blockchain projects are based on Eth. It's largely been the go-to for industry, banking, stock exchanges for their BC and DLT development

    Has quite a few issues currently, but those are constantly being worked on, we have Casper V2, Sharding, better scaling, etc coming

    Price-wise, it's still 1400% up on just over 2 years ago - it was much higher, but the ICO craze in 2017 has led to severe dumping. I certainly wouldn't discount it yet.


  • Closed Accounts Posts: 3,502 ✭✭✭ Addison Fancy Macrame


    The fact he is even tweeting about any crypto, regardless of which one, has me feeling fuzzy.


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  • Site Banned Posts: 73 ✭✭ Jimmy_oc1998


    Where is best place to buy main coin? Lowest fees?


  • Banned (with Prison Access) Posts: 186 ✭✭ Kickstart1.3


    Dohnjoe wrote: »
    BAT, OmiseGo, Maker, etc - 90% plus of the top blockchain projects are based on Eth. It's largely been the go-to for industry, banking, stock exchanges for their BC and DLT development

    Has quite a few issues currently, but those are constantly being worked on, we have Casper V2, Sharding, better scaling, etc coming

    Price-wise, it's still 1400% up on just over 2 years ago - it was much higher, but the ICO craze in 2017 has led to severe dumping. I certainly wouldn't discount it yet.

    No its not up 1400% from 2 years ago. You would have to go back to nearly day 100 for that type of return. I do remember buying them for $7 but afaik the sub $1 was only available by direct investment via staking Bitcoin.

    Its way overvalued like all cryptos bar Bitcoin which has it's only use case as a store of wealth


  • Registered Users Posts: 15,786 ✭✭✭✭ Dohnjoe


    No its not up 1400% from 2 years ago. You would have to go back to nearly day 100 for that type of return.

    My mistake 1000% on 2 years 2 months approx
    Its way overvalued like all cryptos bar Bitcoin which has it's only use case as a store of wealth

    Undervalued, overvalued - doesn't mean much in a market where value is almost entirely psychological and asset value can't be calculated

    I would argue that BTC's store of value isn't much of a use case since that value is so highly speculative


  • Banned (with Prison Access) Posts: 186 ✭✭ Kickstart1.3


    Dohnjoe wrote: »
    My mistake 1000% on 2 years 2 months approx



    Undervalued, overvalued - doesn't mean much in a market where value is almost entirely psychological and asset value can't be calculated

    I would argue that BTC's store of value isn't much of a use case since that value is so highly speculative

    I believe that Bitcoins store of value is a great use case.
    All the Alts are total speculation. I used to follow all the hype of the alt-coins but in reality they have little or no use at the moment. Most are way over-valued beyond belief, many of them will go to zero. Most will be replaced by other Alts from new and old developers who milk the speculation market for what its worth.

    Bitcoin is Digital Gold plain and simple


  • Registered Users Posts: 15,786 ✭✭✭✭ Dohnjoe


    I believe that Bitcoins store of value is a great use case.
    All the Alts are total speculation. I used to follow all the hype of the alt-coins but in reality they have little or no use at the moment. Most are way over-valued beyond belief, many of them will go to zero. Most will be replaced by other Alts from new and old developers who milk the speculation market for what its worth.

    Bitcoin is Digital Gold plain and simple

    Would disagree. Gold actually has a use (in everything from cameras to spacecraft)

    Bitcoin doesn't have much use apart from being a speculative digital trading token. As a store of value it's pretty useless due to it's value - you would never put your life savings into it due to the high risk and insurance for BTC is rare (possibly non-existent)

    So it's good for trading/speculation not much else. Very similar to most alts, just slightly less insanely volatile than them


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  • Registered Users Posts: 6,026 ✭✭✭ grindle


    Every single coin's price is based on speculation and that most definitely includes Bitcoin. The store of value meme is so strong - what attracts you to a less useful project? A project where it's most fervent shills call normal use spam and spout the rhetoric that it should not be used. How is an asset with no utility useful?
    When is it's use not spam? When every tx on chain is a millionaire opening a LN channel?
    Magical Internet Money SoV™


  • Registered Users Posts: 4,657 ✭✭✭ makeorbrake


    Dohnjoe wrote: »
    Would disagree. Gold actually has a use (in everything from cameras to spacecraft)

    It does have a use - but that use in proportion to its 'store of value' aspect is not as significant.

    Dohnjoe wrote: »
    Bitcoin doesn't have much use apart from being a speculative digital trading token. As a store of value it's pretty useless due to it's value - you would never put your life savings into it due to the high risk and insurance for BTC is rare (possibly non-existent)

    So it's good for trading/speculation not much else. Very similar to most alts, just slightly less insanely volatile than them

    Bitcoin has portability and ease of storage. It has scarcity as does gold (so long as asteroid mining doesn't pan out).

    On volatility, believe it or not, it has already seen a reduction in volatility over its history. Of course, it will need to see a much greater reduction in volatility to become a sound store of value. However, if the market cap extends out, that's not impossible.


  • Banned (with Prison Access) Posts: 186 ✭✭ Kickstart1.3


    I didn't say Gold has no use, yes it has plenty. Its not really suited as a store of value since Gold is traded paper certificates. and we all know the value of that paper. Physical Gold isn't too liquid unless you want to get scalped by your local pawnbroker.
    Bitcoin is finite, Wallstreet have no way of gaming it.
    A store of value is a fine use for it, sadly their isn't enough bitcoin available to give a third of a Bitcoin to every millionaire in the world.


  • Registered Users Posts: 15,786 ✭✭✭✭ Dohnjoe


    Bitcoin has portability and ease of storage. It has scarcity as does gold (so long as asteroid mining doesn't pan out).

    Artificial scarcity - like thousands of other cryptos
    On volatility, believe it or not, it has already seen a reduction in volatility over its history. Of course, it will need to see a much greater reduction in volatility to become a sound store of value. However, if the market cap extends out, that's not impossible.

    True, volatility has decreased from the early days, but it's potential is still insane, 15% in 30 mins is not to be sniffed at

    In collateral terms it's would be rated below penny stocks, international regulation could annihilate it's secondary market value. The "don't put in more than you can afford to lose" tells us enough about it's volatility and future risk

    Not bashing it, have held it for a long time, but purely as a high risk speculative investment - calling a spade a spade


  • Registered Users Posts: 15,786 ✭✭✭✭ Dohnjoe


    A store of value is a fine use for it, sadly their isn't enough bitcoin available to give a third of a Bitcoin to every millionaire in the world.

    The same can be said for every alt

    BTC just happens to be "the daddy", apart from that not much diff


  • Registered Users Posts: 4,657 ✭✭✭ makeorbrake


    Dohnjoe wrote: »
    Artificial scarcity - like thousands of other cryptos

    Artificial scarcity - agreed. Like other cryptos - in theory, yes. However, as a project its so much further down the road. The cap *could* be lifted. However, I think that's highly unlikely - and if consensus were to be achieved in doing that, it would be finished.

    Dohnjoe wrote: »
    True, volatility has decreased from the early days, but it's potential is still insane, 15% in 30 mins is not to be sniffed at

    In collateral terms it's would be rated below penny stocks, international regulation could annihilate it's secondary market value. The "don't put in more than you can afford to lose" tells us enough about it's volatility and future risk

    Not bashing it, have held it for a long time, but purely as a high risk speculative investment - calling a spade a spade

    I can't disagree with any of that. In its present form, it's not a decent store of value. I just believe that its not out of the question that over time - and with an expansion of its market capitalisation - that it can achieve that accolade.


  • Banned (with Prison Access) Posts: 186 ✭✭ Kickstart1.3


    Except you can have an endless supply of Alts. I'm sure Daniel Larimer has another better Alt in the pipeline now that he is done with ripple, stellar and now Eos.


  • Registered Users Posts: 10,905 ✭✭✭✭ Bob24


    Bitcoin has portability and ease of storage.

    In a way it is an advantage over gold as it makes it easier to buy and store, so as an asset it is more convenient to handle.

    But when you are looking at a store of value of last resort such as gold, being a physical asset which you can touch, store anyway you want it (including burry it in a field or whatever you fancy), and which is carries its own value is also a key point which IMO means a crypto can never fully replace gold. Carrying its own value is especially important I think: if I hold a gold bar in my hands my wealth is right there in that object which doesn’t rely on anything else I can’t control. If I am holding a cold storage device with bitcoin keys, the object itself is worth nothing and relies on the fact that electricity, internet, and the bitcoin network will be available at the time I will want to retrieve the wealth i stored in that object. Those are a lot of things I can’t control (and obviously it is very unlikely for them to become unavailable in the short term, but keeping in mind we are talking store of value *of last resort* any external dependency is a liability versus gold).
    It has scarcity as does gold (so long as asteroid mining doesn't pan out).

    I know as you said in a previous post it wouldn’t make sense to alter bitcoin’s software scarcity at this stage, but it is technically possible, and we don’t know what might happen in the future. Whereas (at least currently) it is not technically possible to alter gold’s scarcity as it relies on the laws of physics and the limits of science and technology.

    So again yes bitcoin has artificial scarcity, but at least at this stage I wouldn’t consider it as “strong” as gold’s actual physical scarcity.


    Having said all that I’m not saying bitcoin or another crypto can’t become a decent store of value. But I would be careful calling it the new gold as I don’t think it could deliver some of the benefits gold does.


  • Registered Users Posts: 4,657 ✭✭✭ makeorbrake


    Bob24 wrote: »
    But when you are looking at a store of value of last resort such as gold, being a physical asset which you can touch, store anyway you want it (including burry it in a field or whatever you fancy), and which is carries its own value is also a key point which IMO means a crypto can never fully replace gold.
    The touchy, feely thing is all experiential and psychological. When cash is extinct and people are used to using digital money (be it central bank backed digital money or otherwise), then won't that experience change?
    Bob24 wrote: »
    Carrying its own value is especially important I think: if I hold a gold bar in my hands my wealth is right there in that object which doesn’t rely on anything else I can’t control.
    People decide what holds value. The price of gold goes up and down too. That said, its proven over an age - whereas Bitcoin is very, very young.
    Bob24 wrote: »
    Those are a lot of things I can’t control (and obviously it is very unlikely for them to become unavailable in the short term, but keeping in mind we are talking store of value *of last resort* any external dependency is a liability versus gold).
    Even though Bitcoin can now be transacted via satellite as a failsafe, I still take your point. However, bear in mind that if you were to attempt to cross the venezuelan border (for example) today with gold, it would be taken off you. If you walk across an international border with your private key, the experience is different.
    Bob24 wrote: »
    I know as you said in a previous post it wouldn’t make sense to alter bitcoin’s software scarcity at this stage, but it is technically possible, and we don’t know what might happen in the future. Whereas (at least currently) it is not technically possible to alter gold’s scarcity as it relies on the laws of physics and the limits of science and technology.

    If they start asteroid mining, then that could change things. But yes, its still technically possible that they could change the cap on bitcoin but it sounds like shooting everyone involved in the foot.
    Bob24 wrote: »
    So again yes bitcoin has artificial scarcity, but at least at this stage I wouldn’t consider it as “strong” as gold’s actual physical scarcity.
    Having said all that I’m not saying bitcoin or another crypto can’t become a decent store of value. But I would be careful calling it the new gold as I don’t think it could deliver some of the benefits gold does.
    Of course, we need to monitor how those things transpire. If a legitimate debate kicks up about raising the cap., that changes things. Otherwise, Bitcoin needs to see a significant expansion in terms of market capitalisation - to help soften volatility further. However, even with everything going well, volatility will take quite some time to dissipate.


  • Registered Users Posts: 1,225 ✭✭✭ Kilboor


    Excited to short even more ;)


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  • Closed Accounts Posts: 3,502 ✭✭✭ Addison Fancy Macrame


    Kilboor wrote: »
    Excited to short even more ;)

    Don't put the house on it


  • Registered Users Posts: 1,225 ✭✭✭ Kilboor


    Don't put the house on it

    I'm joking really, been a hodler since 2016 and continue to be. I hold and forget, easy life.


  • Closed Accounts Posts: 3,502 ✭✭✭ Addison Fancy Macrame


    Kilboor wrote: »
    I'm joking really, been a hodler since 2016 and continue to be. I hold and forget, easy life.

    Put the house on it.


  • Closed Accounts Posts: 3,502 ✭✭✭ Addison Fancy Macrame


    Grayscales new TV ad which will run for the next year.

    https://dropgold.com/?wvideo=y2rzo2r3sn


  • Closed Accounts Posts: 3,502 ✭✭✭ Addison Fancy Macrame


    Topped up my BTC holding

    Always buy the dip.


  • Closed Accounts Posts: 3,502 ✭✭✭ Addison Fancy Macrame


    Europe wide holiday for banking systems yesterday?!! A good case for crypto.


  • Closed Accounts Posts: 3,502 ✭✭✭ Addison Fancy Macrame


    As per title, have we reached the bottom ?

    Don't think we'll see the likes of $3200 ever again.

    $5150 at time of posting.

    Back in the mainstream media once more.

    +500 since thread started. Fairly excited. Any 10% drops I'll keep accumulating.


  • Registered Users Posts: 10,905 ✭✭✭✭ Bob24


    +500 since thread started. Fairly excited. Any 10% drops I'll keep accumulating.

    Nice overnight gains indeed. Looks like BTC is back to this year’s ATH again.


  • Closed Accounts Posts: 3,502 ✭✭✭ Addison Fancy Macrame


    This is where we met resistance last time so could go either way in the next day or so. Clear this we then hit 6k, big wall there but after that we are clear to 10k I reckon.


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  • Closed Accounts Posts: 3,502 ✭✭✭ Addison Fancy Macrame


    +500 since thread started. Fairly excited. Any 10% drops I'll keep accumulating.

    Apologies make that 600 :eek:


This discussion has been closed.
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