Is anyone else starting to become a bit excited?

km991148 · 12-01-2021 01:10PM

ha - neither it was! - double sorry lol

antgal23 · 12-01-2021 03:00PM

km991148 wrote: »

based on?

Yesterday's close was below the open

DonnieCorko · 12-01-2021 07:49PM

Dnxncofiruwvx wrote: »

Short answer is all alts will rise if a proper alt cycle kicks off, but it’ll be difficult beforehand to pick the big winners from it. Everyone here will just shill their bags, including me! So here’s my defi pick - Synthetix is a defi blue chip aiming at taking a chunk of the $1 quadrillion (yes quadrillion) derivatives market. Added bonus is you can hold it on Celsius for 16% apr. Only problem is it’s trading at an all time high at the moment and around twice what it was at the summer peak, so invest in the knowledge of this.

Thanks for the reply. Synthetix is one I have been looking at because its been shilled alot (probably for good reason) but after what happened to me in 2018 I am cautious about buying alts that are at ATH's in case the market crashes soon. ICX still haunts me

However, I get that it is a huge market aswell. Is there a XRP type SEC issue with these DeFi tokens though?

Any other DeFi coins you can think of that maybe havent mooned as much? I have seen Yearn Finance mentioned alot online.

Dnxncofiruwvx · 12-01-2021 08:40PM

DonnieCorko wrote: »

Thanks for the reply. Synthetix is one I have been looking at because its been shilled alot (probably for good reason) but after what happened to me in 2018 I am cautious about buying alts that are at ATH's in case the market crashes soon. ICX still haunts me

However, I get that it is a huge market aswell. Is there a XRP type SEC issue with these DeFi tokens though?

Any other DeFi coins you can think of that maybe havent mooned as much? I have seen Yearn Finance mentioned alot online.

SNX is facing a showdown with the SEC alright as it’s entire business model is trading securities without a licence. However, it was founded in Australia and is now run by a DAO with smart contracts making up the trades. So how do you target a decentralised company who’s founders are in a different jurisdiction? Not sure what will happen but it’s something that the SEC will look at.

Hard to pick coins that haven’t mooned yet. YFI has done a 4x in the past couple of months and is also trading near its all time high. Look for coins which are still 40-70% down from their ATH, find a roadmap, and take a punt basically. Sushi is worth a look (around 50th on CMC and 60% down from its ATH in the summer), also KAVA might be a shout (143 on CMC and about -70% down from its ATH in the summer). Ampleforth is a really interesting defi project that I think can do well, but you’ll need to understand what you’re getting yourself into with it, so do plenty of research on it first as it has a unique rebase system where it adds or removes tokens depending on how high or low the price goes. It’s another one that is probably around 70% down from the peak (AMPLs value should be measured in market cap rather than price because of the rebases).

There’s no such thing as a sure thing, and realise that it’s essentially gambling throwing money into these projects. If you’re nervous of the volatility just throw a few quid into every week/month and try not to take much notice of the price action. Best of luck!

*Not financial advice btw!

grindle · 12-01-2021 08:47PM

DonnieCorko wrote: »

Is there a XRP type SEC issue with these DeFi tokens though?

A lot of the newer tokens are getting around this by being funded VC-style and airdropping notionally valueless tokens to users of the service which are necessary in order to continue to use their Dapp/protocol, they've never set any sort of price expectation and avoid speaking of it.

Bruno Mannheim · 12-01-2021 09:42PM

Squeaky bum time
https://www.nytimes.com/2021/01/12/technology/bitcoin-passwords-wallets-fortunes.html#click=https://t.co/thdHaixBq8

BrandonBay86 · 12-01-2021 09:46PM

Bruno Mannheim wrote: »

Squeaky bum time
https://www.nytimes.com/2021/01/12/technology/bitcoin-passwords-wallets-fortunes.html#click=https://t.co/thdHaixBq8

Be bought up in no time on the 1% chance he manages to get in. Cheaper the better !

Mellor · 12-01-2021 11:21PM

Thargor wrote: »

Sub 2k my hole... Go back under your rock.

Bruno Mannheim wrote: »

Squeaky bum time
https://www.nytimes.com/2021/01/12/technology/bitcoin-passwords-wallets-fortunes.html#click=https://t.co/thdHaixBq8

The is or was one of the top guys at Ripple/XRP. No sympathy for him tbh.

But it poses a interesting question. If the total sum of BTC is finite. And lost BTC can never be recovered (if this true), does that mean that the total circulation is always reducing.

thunderdog · 12-01-2021 11:27PM

Bruno Mannheim wrote: »

Squeaky bum time
https://www.nytimes.com/2021/01/12/technology/bitcoin-passwords-wallets-fortunes.html#click=https://t.co/thdHaixBq8

I’m surprised, at that value, that he has only tried 8 different passwords. After the 8th attempt did he just say, that’s it I’m all out of password ideas

kingstevii · 12-01-2021 11:29PM

thunderdog wrote: »

I’m surprised, at that value, that he has only tried 8 different passwords. After the 8th attempt did he just say, that’s it I’m all out of password ideas

after 10 wrong passwords the harddrive bricks itself. He's two more attempts..

grindle · 12-01-2021 11:35PM

Mellor wrote: »

does that mean that the total circulation is always reducing.

Yep, estimated 20-25% is gone forever.

Mellor · 12-01-2021 11:54PM

thunderdog wrote: »

I’m surprised, at that value, that he has only tried 8 different passwords. After the 8th attempt did he just say, that’s it I’m all out of password ideas

I think you missed the point.

grindle wrote: »

Yep, estimated 20-25% is gone forever.

I'm aware. But what I was getting at was what happens as it continues?
The rate will obviously slow as people are less flippant about BTC, and less people buying relatively massive amounts of BTC compared to early days. But you'll also see loses due to deaths, dementia increase as investors age. Plus the reward is reducing.

How much will be lost by the time it's all mined? Much more than 25% I'd guess.

seannash · 13-01-2021 01:59AM

Gonna test that 30k again I reckon

Scuid Mhór · 13-01-2021 02:29AM

Does anyone have a Ledger wallet? I'm seriously considering splashing out on a Nano X.

makeorbrake · 13-01-2021 02:32AM

Scuid Mhór wrote: »

Does anyone have a Ledger wallet? I'm seriously considering splashing out on a Nano X.

Just don't give them your name, address or telephone number.

Whelo79 · 13-01-2021 10:58AM

BTC has bounced off that $32k resistance a few times now and has held above it for the last few days. Hopefully the drop from $42k to $32k was that 20%+ correction everyone was half expecting, and now we plough on from here.

cnocbui · 13-01-2021 11:57AM

Scuid Mhór wrote: »

Does anyone have a Ledger wallet? I'm seriously considering splashing out on a Nano X.

No.

cnocbui · 13-01-2021 12:02PM

Bruno Mannheim wrote: »

Squeaky bum time
https://www.nytimes.com/2021/01/12/technology/bitcoin-passwords-wallets-fortunes.html#click=https://t.co/thdHaixBq8

That's why I have a piece of paper with a crazy sentence written on it.

Rob2D · 13-01-2021 12:21PM

I've been looking at crypto more and more seriously over the last year and I want to dive in. Sick of watching all these people make free money! I remember when Bitcoin was born and I kick myself now over my stupidity back then. And also kicking myself that I didn't buy in last year when we were all quarantined at home doing nothing and I was watching all those guys on youtube still telling me to do it.

I'm aiming for altcoins/tokens, hoping I can win some big profits. Let's say I'm happy to invest 5-10K this year. What are people's favourites? I have a shortlist, but it would be good to hear recommendations from some other real people here!

And when it comes to buying on exchanges, has anyone ever had trouble with the banks? I'm with BOI.

crushproof · 13-01-2021 12:39PM

cnocbui wrote: »

That's why I have a piece of paper with a crazy sentence written on it.

Took me ages to wonder wtf a 12 worded piece of paper in my bedside drawer was all about. I though I had written down the memory of some weird dream in the middle of the night years ago!

Anyway that German guy is already minted from investing in Crypto so don't feel too sorry for him!

cnocbui · 13-01-2021 12:50PM

Rob2D wrote: »

I've been looking at crypto more and more seriously over the last year and I want to dive in. Sick of watching all these people make free money! I remember when Bitcoin was born and I kick myself now over my stupidity back then. And also kicking myself that I didn't buy in last year when we were all quarantined at home doing nothing and I was watching all those guys on youtube still telling me to do it.

I'm aiming for altcoins/tokens, hoping I can win some big profits. Let's say I'm happy to invest 5-10K this year. What are people's favourites? I have a shortlist, but it would be good to hear recommendations from some other real people here!

And when it comes to buying on exchanges, has anyone ever had trouble with the banks? I'm with BOI.

Bitcoin, not pray and hope coins. I don't use an exchange, but I have not had a problem with the vendor I use, using AIB. Don't invest more than you can afford to lose. Just be aware that some people who bought when the last frenzy was on, had a few years to wait to see a profit at recent levels. Those who panicked and sold, made losses.

CantThinkOfANam · 13-01-2021 01:10PM

cnocbui wrote: »

I don't use an exchange.

Sorry I'm new to this, if you don't use an exchange, how do you then trade?

I'm currently looking into Kraken, thoughts?

Rob2D · 13-01-2021 01:17PM

cnocbui wrote: »

Bitcoin, not pray and hope coins.

Sure that would be great someday and an end goal if I ever have a large enough sum to hold with the big boys. But I would much rather gamble away 5K on some hail mary's for now and maybe win big. And anyway, if Bitcoin makes a huge move, it brings up everything else along with it right?

cnocbui wrote: »

I don't use an exchange, but I have not had a problem with the vendor I use

What broker do you use? I assume you don't bother with an exchange because you don't want any of the "hope coins"?

cnocbui wrote: »

Just be aware that some people who bought when the last frenzy was on, had a few years to wait to see a profit at recent levels. Those who panicked and sold, made losses.

Oh don't worry. I'd never admit defeat by selling at a loss.

Rob2D · 13-01-2021 01:20PM

CantThinkOfANam wrote: »

I'm currently looking into Kraken, thoughts?

That seems to be what I'm arriving at as well.

Had a look a cex.io too. But they seem to be English based and I'm a bit p***ed off at England at the moment! :pac:

Binance seems to be a big recommended all rounder too.

grindle · 13-01-2021 01:37PM

Mellor wrote: »

I'm aware. But what I was getting at was what happens as it continues?
...
How much will be lost by the time it's all mined? Much more than 25% I'd guess.

Supply will diminish greatly, Core will introduce three new zeros at the end of a satoshi to make it more divisible, there'll be arguments about what that means in terms of the supply cap as it'll effectively mean there are 21bn coins but BTC die-hards will hold onto the 21m meme and stress that it was actually a very smart move to introduce an extra three zeros dividing downwards, totally different thing. Sh!tcoins will be born, Blockstream or whomever owns them will win the narrative. Price goes up.

Dohnjoe · 13-01-2021 01:38PM

Rob2D wrote: »

I've been looking at crypto more and more seriously over the last year and I want to dive in. Sick of watching all these people make free money! I remember when Bitcoin was born and I kick myself now over my stupidity back then. And also kicking myself that I didn't buy in last year when we were all quarantined at home doing nothing and I was watching all those guys on youtube still telling me to do it.

I'm aiming for altcoins/tokens, hoping I can win some big profits. Let's say I'm happy to invest 5-10K this year. What are people's favourites? I have a shortlist, but it would be good to hear recommendations from some other real people here!

And when it comes to buying on exchanges, has anyone ever had trouble with the banks? I'm with BOI.

The best time to buy has "traditionally" been when everything is red and no one wants to touch it and no one is talking about it. Keep in mind that if you buy now there is the "higher" chance it could all drop significantly than if you bought during the lulls.

As someone who has a metric ton of alt coins, and if you insist on alts, then I would strongly recommend a split of BTC, Eth and alts (e.g. 50% BTC, 40% Eth, 10% alts)

And yes, there is talk of an "alt run" like 2017, but that hasn't really happened yet (a few small pops), and there is no certainty that it will or will ever happen.

Green&Red · 13-01-2021 01:53PM

Rob2D wrote: »

I've been looking at crypto more and more seriously over the last year and I want to dive in. Sick of watching all these people make free money! I remember when Bitcoin was born and I kick myself now over my stupidity back then. And also kicking myself that I didn't buy in last year when we were all quarantined at home doing nothing and I was watching all those guys on youtube still telling me to do it.

I'm aiming for altcoins/tokens, hoping I can win some big profits. Let's say I'm happy to invest 5-10K this year. What are people's favourites? I have a shortlist, but it would be good to hear recommendations from some other real people here!

And when it comes to buying on exchanges, has anyone ever had trouble with the banks? I'm with BOI.

Cardano, Chainlink and vechain would be three id be interested in

stockshares · 13-01-2021 02:23PM

grindle wrote: »

Supply will diminish greatly, Core will introduce three new zeros at the end of a satoshi to make it more divisible, there'll be arguments about what that means in terms of the supply cap as it'll effectively mean there are 21bn coins but BTC die-hards will hold onto the 21m meme and stress that it was actually a very smart move to introduce an extra three zeros dividing downwards, totally different thing. Sh!tcoins will be born, Blockstream or whomever owns them will win the narrative. Price goes up.

I never hear Blockstream mentioned whenever the latest SEC/Crypto controversy occurs.

Where do they stand in the negotiations with the US GOV/ SEC?

cnocbui · 13-01-2021 02:39PM

CantThinkOfANam wrote: »

Sorry I'm new to this, if you don't use an exchange, how do you then trade?

I'm currently looking into Kraken, thoughts?

I use Belgacoin.com You can buy and sell, but there are limits on weekly amounts and the price is the market price when they get the funds or coins, so instantaneous price realisation isn't possible, as with an exchange, but I'm not a day trader so it's not been a bother for me.

As far as exchanges go, and my limited knowledge, Kraken would be my pick.

grindle · 13-01-2021 02:46PM

stockshares wrote: »

Where do they stand in the negotiations with the US GOV/ SEC?

https://news.bitcoin.com/sec-executive-cryptocurrencies-with-decentralized-structures-not-securities/

Blockstream itself stands nowhere in the eyes of the government, they didn't invent Bitcoin and aim to sell it as a security, they don't produce the coins themselves. There used to be no price on it until the pizza, it was given away freely beforehand as the pre-upvote version of an upvote on nerd forums, faucets were giving them away.

They develop one extremely dominant flavour of many implementations and largely control the narrative around the coin, it's up to the market to decide if it wants to follow that narrative.

Is anyone else starting to become a bit excited?

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