Are we excited yet?

deadduck

https://www.boards.ie/discussion/comment/121879047#Comment_121879047

When you say ‘collapses’, do you mean fall by 80%+ as it has before?

As long as you follow the ‘rules’ (only invest what you can easily afford, diversify, take a long term view, DCA, etc), history has proven multiple times, you’ll eventually up in profit

So i’d say just forget about it for a few years, things will come round again, and then you can cash out, likely in profit 👍

Donegal1234

Mad to think around this day 4 years ago bitcoin 4k and now 72k.

That Covid crash was a mad few days.

BKtje

It's funny this talk on intrinsic value. The euro, the dollar the Swiss franc all only have value because someone decided they did and then linked them directly to GDP of that country or region. "Forcing" payment in that currency. Some crypto are pure shitcoins, some crypto are stores of money, some crypto allow the working of a chain ecosystem, some crypto pay their workers in their currency and charge clients in the same currency to pay their workers.

Nosana (one of many) for example is currently preparing a mass distributed graphics card network for AI tasks. This will have a real world impact for people or smaller companies who want access to this hardware and would never be able to afford the regular supplier prices. The gamer who has a powerful card sitting idle most of the day wins as does the person who needs some AI calcuations done "cheaper". One example of many. There ARE real world use cases for crypto but you need to dig among the thousands of shitcoins to find them.

Thargor

What are people thinking timing-wise for the correction this time? Id say nothing to worry about until the end of Summer anyway. Just a feeling.

ZMOONY

https://www.boards.ie/discussion/comment/121881236#Comment_121881236

im not expecting one for the main guys. Nothing like the past anyway.

not selling.

don't care not selling, BTC, Eth, link. Eth upgrade incoming in 2 days. Though it's taking a somewhat odd change in focus...maybe.

Grumpypants

https://www.boards.ie/discussion/comment/121881236#Comment_121881236

I'd say November/ December if the cycle just repeats. But who knows what will happen.

Plan for ten years time not ten months.

el diablo

https://www.boards.ie/discussion/comment/121880207#Comment_121880207

I also find it difficult to believe Dohnjoe's claims that he owns (or has ever owned) any crypto.

el diablo

https://www.boards.ie/discussion/comment/121879914#Comment_121879914

edit..

Norrie Rugger Head

https://www.boards.ie/discussion/comment/121827879#Comment_121827879

https://www.boards.ie/discussion/comment/121875871#Comment_121875871

I start giving out about AMP and is rises 150% overnight FFS

Shows what I know. At keast I kept my holding .

Saying that, there's still zero news of any development, so unless there's something happening in the background which someone has wind of causing the spike, still dubious

Potatoeman

https://www.boards.ie/discussion/comment/121880361#Comment_121880361

Western union payments can take days and cost a couple of percent, you can do the same thing with crypto in seconds and pay a fraction of a penny. Defi are exchanges that don’t go down during high traffic like cex’s.

BTC is far more secure than BCH and LTC.

Dohnjoe

https://www.boards.ie/discussion/comment/121882132#Comment_121882132

Feels like I've travelled back in time to 2017 ;)

We can pay in seconds for things, online and at tills. Transfers are getting faster, most of my bank transfers and request for bank transfers are done in seconds. Money is accepted everywhere. And it's insured. And there is recourse. And I don't have to mind it on a wallet, watching out for malware, software, hardware issues, remembering passwords 4 years later, making one mistake and it's gone.

Public/business, in general, don't use crypto.

Enthusiasts do, or try to, jumping through hoops to do basic things like purchases and transfers and getting excited about the novelty of it. And that's cool, but 99 times out of 100 cash is simply easier and faster and more accepted.

The best advancement is that I can transfer money to Revolut, buy crypto, liquidise it and transfer the money back to my main bank account in under 20 seconds. That's all that really matters in crypto, people having easy access to trade it and push the price up/down.

Grumpypants

https://www.boards.ie/discussion/comment/121882604#Comment_121882604

We are still in the pioneering stage where it is the innovators that are making those efforts.

Look back when the car over took the horse. They were slow, they were dangerous, there was nowhere to buy petrol, it couldn't drive in snow. Why solve a problem that doesn't exist.

Look back at EVs. People scoffed then. Why buy one when you can only drive 70km, there is nowhere to charge, it takes hours to charge, you can't turn on the heaters. Why are we trying to solve a problem when we have petrol cars that drive 500km and top up in mins.

Now we are on the cusp of solid state batteries with 1000km range that top up in 5 mins. In ten to twenty years you won't have petrol stations.

Dohnjoe

https://www.boards.ie/discussion/comment/121882785#Comment_121882785

We are still in the pioneering stage where it is the innovators that are making those efforts.

Mostly this is a trope. It's 15 years since BTC came out. In 15 years enthusiasts will be repeating this same line "this is just the beginning"

I can list all these "slogans", ultimately each one is designed to get people to think that crypto is the future and hence they need to invest. All of this boils down to that.

Anyway, as mentioned, people want to enjoy the bull run, and I know some don't like to hear criticism right now, so prob best to continue this in the "worried" thread.

Potatoeman

Two picks, Solchat market cap 50mil, social app. Print, 6mil cap. Transfer fees are high and distributed to holders in SOL.

mickdw

https://www.boards.ie/discussion/comment/121882785#Comment_121882785

Of topic but are we really at the cusp of solid state batteries with 1000km range that can top up in 5 mins? If that is coming, how many years until we have the electrical infrastructure to supply such requirements. I'm taking both general network and actual power generation considering we are struggle to power the country as is.

erlichbachman

If we don’t have petrol stations then how is the lambo gonna run?

BKtje

https://www.boards.ie/discussion/comment/121882604#Comment_121882604

One point you haven't mentioned is that a crypto transfer has (in theory) no exchange fees. It's the same in Brazil, Ireland, Switzerland and Hong Kong. The amount is the amount, no transfers from Euro to CHF and currency exchange fees, very low cost (if you select the correct network). Yes you currently need an on and off ramp which sort of negates this advantage but maybe one day you won't. It will be an uphill battle to dethrone the current system and maybe it never will but there are clear advantages though still a long way to go with regarding ease of use for Joe and Mary Bloggs. We are still very early in the adoption cycle but the number of daily users in the crypto sphere is rising, albeit slowly. I think we were at half a billion regular users in June of last year which has surely risen now with the uptrend.

Time will tell but at the very minimum, certain aspects of crypto are here to stay.

Potatoeman

https://www.boards.ie/discussion/comment/121883660#Comment_121883660

You push it with your hand while going bbbbbrrrrrrrrrrrmmmmmmm.

BKtje

Lamborghini are one step ahead

https://www.lamborghini.com/en-en/news/lamborghini-unveils-the-lanzador-future-electric-emotion

erlichbachman

https://www.boards.ie/discussion/comment/121884271#Comment_121884271

That kinda defeats the purpose of owning a lambo, ugly too from the outside

patsy_mccabe

https://www.boards.ie/discussion/comment/121879047#Comment_121879047

Sorry but just to be clear, I've no intention whatsoever in buying crypto. Probably as likely as Charlie Munger at this stage.

Dohnjoe

https://www.boards.ie/discussion/comment/121883722#Comment_121883722

Okay just to address this

"In theory". In practice I've spent far more in crypto transfers and exchange fees in the last 7 years than I've spent on bank accounts/transfers in my entire life.

That aside, yes some crypto moves fast and (almost) feeless, but we have cash systems that can move stuff fast and (almost) feeless.

Take Revolut for example. Transfers to other revolut accounts? Free. Transfers to domestic accounts? Free. Transfers to the EU? Free. Transfers outside Europe? Usually around 0.15% or 0.20%.

As for the "this is early yet". It's 15 years. Crypto purchases (after a peak) are decreasing. The public don't want to pay for their rent/utilities/groceries/etc in thousands of different volatile private assets or stable-coins no matter how "fast and feeless" they are. People don't want to play with passwords and one mistake and it's gone. Business absolutely doesn't want to touch that.

Maybe there's a future with fully regulated crypto stable-coins as alternative currencies (and not risky **** like Tether and Terra)

BKtje

I agree with a lot of what you say and most original crypto chain fees are incredibly high. I'd be in the same boat as you with regards to fees but that has changed since moving to the solana eco system.

Do I see crypto being used as a currency in the future? Perhaps but that's not what I think it's main use case will be. Governments for the most part won't want to lose control of their economy and that's probably for the best.

Tango One

Which one of you was it :)

"Cryptocurrency trader, Graham De Barra, with an address at Rua Praia, Ribeira Seca in Portugal was the subject of a Revenue audit case for the under-declaration of income tax. Total settlements exceeded €202k, which included €89k in tax, €45k in interest and €67k in penalties. The total amount of €202k was unpaid. "

Alexus25

So I was thinking of investing approx 2k in Bitcoin on coinbase, any thoughts or suggestions?

cnocbui

https://www.boards.ie/discussion/comment/121885628#Comment_121885628

He's my new hero.

Doubly so after finding he's likely a human rights campaigner who has said some very intelligent things about decriminalising drugs that align well with my own views

As I said in another thread, I was just after reading the tax treaty with Portugal. I saw no mention of enforcement, so I don't think the Portuguese are going to go chasing payment on Revenue's behalf.

Also with regard to CGT, the treaty makes no mention of that steaming turd of a 3 year CGT disposal rule, so it's probably safe to say it's unenforceable hopium nature is recognised at official levels.

I wonder did some Irish lawyer try it on with his Portuguese counterpart when they were negotiating the treaty and got a reply related to unnatural acts with his burro?

mickdw

https://www.boards.ie/discussion/comment/121885721#Comment_121885721

It's been in a hole for the past 2 years. You are abit late to the party. Some here think it's still a good bet and could possibly even double from here but equally you.could be left holding bitcoin worth half what you.paid for it for a year or 2.

I'm certainly not buying in at this stage. I bought somewhere close to the bottom in last collapse so will take my cash in the next few weeks I'm thinking.

deadduck

https://www.boards.ie/discussion/comment/121885721#Comment_121885721

Although I hold neither, if I were you, I’d be doing something like 60/30 BTC/ETH, and then maybe 10% into SOL (or ADA).

Of course DCA is always advisable too, and don’t be in a hurry for profits. ‘Time in the market’ is always better than ‘timing the market’!

ZMOONY

https://cointelegraph.com/news/bitcoin-6-months-etf-liquidity-crisis-analysis

within 6 month all BTC will be bought

deadduck

https://www.boards.ie/discussion/comment/121886235#Comment_121886235

This is probably a stupid hypothesis, but I wonder will this mean the likes of the Ethereum ETF will arrive sooner rather than later?