Is anyone else starting to become a bit excited?

makeorbrake · 04-01-2021 11:31PM

Whelo79 wrote: »

That bounce back off $28k is great to see.

I'm in two minds as to whether to take comfort in that or not. There's the possibility that a stronger drop would have been better in the long run...but who knows.

04-01-2021 11:37PM

Question that pops into my head! With a finite amount of BTC and institutional investors buying billions in BTC, is there going to come a point when the circulating supply will run out or be negligible enough that it will be difficult to buy. What will be the outcome if this happens?

makeorbrake · 04-01-2021 11:41PM

Deleted User wrote: »

Question that pops into my head! With a finite amount of BTC and institutional investors buying billions in BTC, is there going to come a point when the circulating supply will run out or be negligible enough that it will be difficult to buy. What will be the outcome if this happens?

That's taking place right now. Between Grayscale, Square and Paypal, many times current mining supply is being bought up. It's pretty straightforward demand/supply dynamics. There isn't a bitcoin available for each millionaire on the planet. If demand exceeds supply for anything, then unit price goes up.

Bob24 · 04-01-2021 11:49PM

Deleted User wrote: »

Question that pops into my head! With a finite amount of BTC and institutional investors buying billions in BTC, is there going to come a point when the circulating supply will run out or be negligible enough that it will be difficult to buy. What will be the outcome if this happens?

It wouldn’t run-out. Rather go up in price very sharply (everyone has a price at which they would be willing to sell, but if demand is crazy that price could become very, very, high).

05-01-2021 12:00AM

Bob24 wrote: »

It wouldn’t run-out. Rather go up in price very sharply (everyone has a price at which they would be willing to sell, but if demand is crazy that price could become very, very, high).

I look forward to it. Am willing to wait lol

Timmaay · 05-01-2021 12:24AM

downcow wrote: »

Anyone know how i can buy some of the very volatile altcoins? There is no option to buy them on Bitpanda which i am using. I just fancied dabbling with a small amount on them. the ones that rise and fall 100s% per day

Definitely consider it nothing more than buying a lotto ticket or putting afew quid in a slot machine, ie pure gambling with a 99.9% chance of losing everything.

Sir montygom · 05-01-2021 02:18AM

makeorbrake wrote: »

That's taking place right now. Between Grayscale, Square and Paypal, many times current mining supply is being bought up. It's pretty straightforward demand/supply dynamics. There isn't a bitcoin available for each millionaire on the planet. If demand exceeds supply for anything, then unit price goes up.

But 1 bitcoin can be divided into a 100million satoshi... they can buy a satoshi for 34k if there is enough demand for them/bitcoin.... 100million x 21 will surely be enough to soak up the millionaires spare dosh and a couple of trillion of the pandemic pile !

makeorbrake · 05-01-2021 03:30AM

Sir montygom wrote: »

But 1 bitcoin can be divided into a 100million satoshi... they can buy a satoshi for 34k if there is enough demand for them/bitcoin.... 100million x 21 will surely be enough to soak up the millionaires spare dosh and a couple of trillion of the pandemic pile !

For sure...so demand goes up relative to a fixed supply - price goes up - but few are buying complete coins at that point.

stockshares · 05-01-2021 09:58AM

Big news last night from the OCC
https://www2.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-2.html

Federally Chartered Banks and Thrifts May Participate in Independent Node Verification Networks and Use Stablecoins for Payment Activities

olestoepoke · 05-01-2021 12:41PM

stockshares wrote: »

Big news last night from the OCC
https://www2.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-2.html

Federally Chartered Banks and Thrifts May Participate in Independent Node Verification Networks and Use Stablecoins for Payment Activities

OK sorry for my ignorance but what is rhe significance of this news in layman's terms?

makeorbrake · 05-01-2021 12:52PM

olestoepoke wrote: »

OK sorry for my ignorance but what is rhe significance of this news in layman's terms?

It's another small but significant step in the normalisation of the use of public blockchains as a settlement layer within the financial system. Over time, it will lead to outdated systems (such as swift) being stood down.

Dohnjoe · 05-01-2021 12:59PM

Deleted User wrote: »

Question that pops into my head! With a finite amount of BTC and institutional investors buying billions in BTC, is there going to come a point when the circulating supply will run out or be negligible enough that it will be difficult to buy. What will be the outcome if this happens?

Artificial scarcity, divide it down to it's smallest component and then value of it just increases correspondingly.

Think of real scarcity, e.g. rare cars, there may be only 20 of a particular type in the world, the price just keeps increasing as much as people are willing to pay for one.

Dohnjoe · 05-01-2021 01:02PM

Good to see some alts finally taking bigger steps, but it's still quite tentative. I guess the post 2017 shock of -95% plus is still there.

Donegal1234 · 05-01-2021 01:47PM

After 6 months doing nothing thankfully Matic network has started doing something. Staking apr still around 27%.

Sir montygom · 05-01-2021 02:46PM

makeorbrake wrote: »

For sure...so demand goes up relative to a fixed supply - price goes up - but few are buying complete coins at that point.

So when all the big investors buy up the bulk of the full bitcoins in circulation that the value of satoshi’s will then begin to rocket ?

It’s like saying 1 euro coin is more valuable than 100 one cent coins!

Fingers crossed for all that have bought in at high prices.... someone has to loose for these massive profits.. and I not think it will be the big investors that will get stung...... my advice is factor in a chance of a big bad crypto spook story... one that will produce big red candle sticks the length of the spire!

Gooey Looey · 05-01-2021 02:46PM

Donegal1234 wrote: »

After 6 months doing nothing thankfully Matic network has started doing something. Staking apr still around 27%.

Nice, I good some of that a while back, I'm up 50%

Donegal1234 · 05-01-2021 02:57PM

Gooey Looey wrote: »

Nice, I good some of that a while back, I'm up 50%

That’s a decent return.Are you staking aswell. Hopefully will get listed on Coinbase this year.

Dohnjoe · 05-01-2021 02:58PM

Have to say that so far Revolut is pretty damn good, their crypto service thing aside (which I don't use), just takes a few seconds to send cash from account to a fiat exchange.

Irish_rat · 05-01-2021 03:11PM

downcow wrote: »

Anyone know how i can buy some of the very volatile altcoins? There is no option to buy them on Bitpanda which i am using. I just fancied dabbling with a small amount on them. the ones that rise and fall 100s% per day

How much of a sh*t coin are we talking here.

grindle · 05-01-2021 03:13PM

Sir montygom wrote: »

It’s like saying 1 euro coin is more valuable than 100 one cent coins!

Bitcoin and satoshis rise in value in tandem, what you're saying is nonsense.
If demand > supply, price goes up. It's the simplest thing in the world to grasp.

Will there be a crash? Yep. Will there be a rise again? Yep. Will people who bought high panic and sell low when they think the sky is falling? Yep. Will that keep happening over and over again? Yep.

In the heads of the BTC faithful, BTC is to USD as USD is to Venezuelan Bolivars.

BrandonBay86 · 05-01-2021 03:13PM

Sir montygom wrote: »

So when all the big investors buy up the bulk of the full bitcoins in circulation that the value of satoshi’s will then begin to rocket ?

It’s like saying 1 euro coin is more valuable than 100 one cent coins!

Fingers crossed for all that have bought in at high prices.... someone has to loose for these massive profits.. and I not think it will be the big investors that will get stung...... my advice is factor in a chance of a big bad crypto spook story... one that will produce big red candle sticks the length of the spire!

Lol

Northernsoul · 05-01-2021 04:32PM

Hi - My coinbase account (not pro) is suddenly telling me ‘you are unable to buy or sell crypto on coinbase, please contact support’ I’ve tried and cant get anyone! Also as i though it might be an expired card, i removed it and now when i try to add my Visa debit as before, it tells me ‘this type of card is not supported’ Can anyone help me??

Gooey Looey · 05-01-2021 04:42PM

Donegal1234 wrote: »

That’s a decent return.Are you staking aswell. Hopefully will get listed on Coinbase this year.

No I'm getting 17.91% apy return on it with Celsius

stockshares · 05-01-2021 05:25PM

Northernsoul wrote: »

Hi - My coinbase account (not pro) is suddenly telling me ‘you are unable to buy or sell crypto on coinbase, please contact support’ I’ve tried and cant get anyone! Also as i though it might be an expired card, i removed it and now when i try to add my Visa debit as before, it tells me ‘this type of card is not supported’ Can anyone help me??

It's likely to do with new regulations.

You might have to answer a series of questions on the main website from a PC.

Open the website on your PC . More than likely you will be presented with a list of Qs.

DeSelby83 · 05-01-2021 05:41PM

Gooey Looey wrote: »

No I'm getting 17.91% apy return on it with Celsius

I actually logged on here to ask about Celsius. Seems a bit too good to be true in general....what's the catch?

Dohnjoe · 05-01-2021 05:46PM

DeSelby83 wrote: »

I actually logged on here to ask about Celsius. Seems a bit too good to be true in general....what's the catch?

You are getting the return in crypto. Great if it's value is steady or going up, but bad if going down. There's also the usual risks involved.

Dohnjoe · 05-01-2021 05:48PM

It's going a bit nuts across the board again, good few alts also this time.

DonnieCorko · 05-01-2021 05:53PM

Dohnjoe wrote: »

Have to say that so far Revolut is pretty damn good, their crypto service thing aside (which I don't use), just takes a few seconds to send cash from account to a fiat exchange.

Is this via the revolut card? I tried to pay for crypto on coinbase with revolut and it wouldnt allow me. Or are you talking about a SEPA transfer?

Thargor · 05-01-2021 05:58PM

Big red banner just popped up on my Coinbase saying XRP trading about to be shut down.

Gooey Looey · 05-01-2021 06:01PM

DeSelby83 wrote: »

I actually logged on here to ask about Celsius. Seems a bit too good to be true in general....what's the catch?

Celsius is great, I moved all my crypto there from crypto.com when they started making sudden changes. With Celsius there is no staking or locking in the crypto, it's available to transfer out right away. Just one thing to note, when you set a withdrawal wallet address for each crypto you cannot transfer out for 24 hours, it's a security feature.

Is anyone else starting to become a bit excited?

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