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Are we excited yet?

Nody

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Continuation of Is anyone else starting to become a bit excited?

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OEP

NIAC Fanboy wrote: »

The thing about oil is everybody needs it. Not sure how hoarding bitcoin will force up the price as nobody needs it

As for a "moonshot" if I had €5000 why not back the 8/1 in the 2.15 at Haydock.

At least you are calling gambling for what it is. If its a bit of craic then no harm.

I don't think anybody will get rich from bitcoin again, as in €150 worth in 2016 going up 30000%

If you buy 1 bitcoin today for $40K and it appreciates 50% in value then you make $40K.

But tell that to the lads that bought recently at nearly $60K.

If I felt as confident about an 8/1 dog winning as I did about Ethereum returning 8 times my investment back when I bought, I would back it, but I don't have that confidence in the dog. I firmly believe in the technology, and that it will be become huge in time. So I see it more like investing in a growth stock than outright gambling - although any investing is gambling at the end of the day. It is of course very high risk, like any brand new technology.

SortingYouOut

weemcd wrote: »

Everything pumping now. I'd say we're no more than 24 hours away from the next shake out if the recovery is too quick.

Tread carefully...

Are people posed to jump ship if it climbs to quickly, what will cause this shake out, out of curiosity?

I'm looking to throw a bit into the game but would rather buy at a lower point if it's going to happen.

HGVRHKYY

NIAC Fanboy wrote: »

The thing about oil is everybody needs it. Not sure how hoarding bitcoin will force up the price as nobody needs it

As for a "moonshot" if I had €5000 why not back the 8/1 in the 2.15 at Haydock.

At least you are calling gambling for what it is. If its a bit of craic then no harm.

I don't think anybody will get rich from bitcoin again, as in €150 worth in 2016 going up 30000%

If you buy 1 bitcoin today for $40K and it appreciates 50% in value then you make $40K.

But tell that to the lads that bought recently at nearly $60K.

Such a stupid comment, best of luck with that reasoning!

weemcd

SortingYouOut wrote: »

Are people posed to jump ship if it climbs to quickly, what will cause this shake out, out of curiosity?

I'm looking to throw a bit into the game but would rather buy at a lower point if it's going to happen.

When charts move up too fast, they tend to drop like stones just as fast, or even faster...

Not a cert, this may run through the weekend but I'd be sleeping with one eye open. Very difficult to find a "level" for anything at the minute because it's so volatile. Everything looks brilliant today and people might get carried away.

HGVRHKYY

OEP wrote: »

If I felt as confident about an 8/1 dog winning as I did about Ethereum returning 8 times my investment back when I bought, I would back it, but I don't have that confidence in the dog. I firmly believe in the technology, and that it will be become huge in time. So I see it more like investing in a growth stock than outright gambling - although any investing is gambling at the end of the day. It is of course very high risk, like any brand new technology.

Spot on. The comparisons with gambling are always comical to me. Is it volatile and risky? Yes. But is it possible to actually analyse what the investment is and its likelihood to at least increase somewhat in value? Absolutely. So suggesting you might as well throw €5k on a horse or dog in a race as if that's the same as buying some crypto, many of which are actually relatively safe to invest in, is so thick. If you bet on a race your money's gone as soon as the race is over, with crypto you can watch it drop massively in value but still have some chance of it bouncing back

I done exactly this in 2017 and held since then and accumulated more

SkyRevNet

OEP wrote: »

If I felt as confident about an 8/1 dog winning as I did about Ethereum returning 8 times my investment back when I bought, I would back it, but I don't have that confidence in the dog. I firmly believe in the technology, and that it will be become huge in time. So I see it more like investing in a growth stock than outright gambling - although any investing is gambling at the end of the day. It is of course very high risk, like any brand new technology.

If the technology (the ethereum blockchain) is commercially successful, why does that mean the token (ETH) built on that blockchain will grow in value?

OEP

SkyRevNet wrote: »

If the technology (the ethereum blockchain) is commercially successful, why does that mean the token (ETH) built on that blockchain will grow in value?

Because you need to buy ETH to use the ethereum blockchain

grindle

SkyRevNet wrote: »

If the technology (the ethereum blockchain) is commercially successful, why does that mean the token (ETH) built on that blockchain will grow in value?

Businesses or whomever is using it needs to buy it to fuel their transactions. We're essentially gambling on businesses using it, which if we're to believe Ernst &Young, they are.

seannash

NIAC Fanboy wrote: »

The thing about oil is everybody needs it. Not sure how hoarding bitcoin will force up the price as nobody needs it

As for a "moonshot" if I had €5000 why not back the 8/1 in the 2.15 at Haydock.

At least you are calling gambling for what it is. If its a bit of craic then no harm.

I don't think anybody will get rich from bitcoin again, as in €150 worth in 2016 going up 30000%

If you buy 1 bitcoin today for $40K and it appreciates 50% in value then you make $40K.

But tell that to the lads that bought recently at nearly $60K.

I get the gambling analogy but you shouldn't lose all your money in crypto. You can lose some or a bit of your money but unlike horses you can sell at less than what you bought in and put that somewhere else. Once the race is over you cant sell your ticket for half of what you paid for it no mater how hard you try.

Those who bought at 60k have gotten a 33% haircut as of writing this but with the potential of it all coming back and going past their buy in price if they hold or it dropping more. Its a long race.

SkyRevNet

OEP wrote: »

Because you need to buy ETH to use the ethereum blockchain

That doesn't mean the value will grow, especially if today's prices are purely driven by speculation.

OEP

SkyRevNet wrote: »

That doesn't mean the value will grow, especially if today's prices are purely driven by speculation.

If there's an increase in demand for it, then it's value will grow. A large part of it is speculation but I wouldn't say it's purely speculation.

NIAC Fanboy

HGVRHKYY wrote: »

Such a stupid comment, best of luck with that reasoning!

How is it stupid?

I was responding to somebody who said they were gambling on a "moonshot" with crypto.

A quick 800% return in crypto would be a moonshot surely?

NIAC Fanboy

grindle wrote: »

Businesses or whomever is using it needs to buy it to fuel their transactions. We're essentially gambling on businesses using it, which if we're to believe Ernst &Young, they are.

We've been hearing for a good while now about businesses making it mainstream but I am not seeing it on the ground.

I remember Eddie Hobbs flogging Cape Verde, "direct flights from Dublin and Manchester expected in the next year" people used say.

SnuggyBear

SortingYouOut wrote: »

Are people posed to jump ship if it climbs to quickly, what will cause this shake out, out of curiosity?

I'm looking to throw a bit into the game but would rather buy at a lower point if it's going to happen.

I sold out the other day expecting a big drop. It happened and I bought back in for lower price. I'm expecting another drop even bigger now and I'll sell again soon I think. Too much manipulation and bs going on at the minute.

Salvadoor

I cashed out my original investment last week. What's left over has been converted into BTC & ETH and will remain there for a while

SkyRevNet

OEP wrote: »

If there's an increase in demand for it, then it's value will grow. A large part of it is speculation but I wouldn't say it's purely speculation.

Can't say I share your confidence. From a purely commercial perspective, if ETH is needed to operate on the blockchain and the value of it explodes, the transactor can just transact on a "cheaper" blockchain.

I certainly hope I'm wrong as I'll benefit greatly if it takes off.

OEP

SkyRevNet wrote: »

Can't say I share your confidence. From a purely commercial perspective, if ETH is needed to operate on the blockchain and the value of it explodes, the transactor can just transact on a "cheaper" blockchain.

I certainly hope I'm wrong as I'll benefit greatly if it takes off.

That's certainly a possibility but Ethereum has the advantage of being first. Ethereum has a bigger community etc.. Someone can correct me on this but I think almost all of the DeFi projects are on the Ethereum blockchain

Rob2D

weemcd wrote: »

Everything pumping now. I'd say we're no more than 24 hours away from the next shake out if the recovery is too quick.

Tread carefully...

Yes, be VERY careful out there! The threat of 20K BTC is not over yet and won't be until next week IMO and it continues to hold above 42K.

cnocbui

Rob2D wrote: »

Agreed but in my case I have a lot at stake. Now I'm not going to starve or anything if I loose it but still it's nice profit from where I started and I wouldn't mind leaving with my current bag at all.

I do believe we'll probably see a good run later in the year if we crash again but I'd rather be safe than sorry in the meantime. Anything can happen in a mini bear market of 3 months or so like some are predicting.

If you don't have any decent profit to take yet then yeah HODL away I'd say. I just need to have my trailing stop losses set is all. Good for the mental health. Helps me sleep at night!

I had over 3800% profit at stake, I'm now back down to paltry 2,300%. I haven't sold anything and just continue to HODL. I won't be selling until I have emigrated to a low CGT country. I sleep just fine.

mcriot29

cnocbui wrote: »

I had over 3800% profit at stake, I'm now back down to paltry 2,300%. I haven't sold anything and just continue to HODL. I won't be selling until I have emigrated to a low CGT country. I sleep just fine.

What did you invest in
They will all go up
Again soon

grindle

NIAC Fanboy wrote: »

We've been hearing for a good while now about businesses making it mainstream but I am not seeing it on the ground.

I remember Eddie Hobbs flogging Cape Verde, "direct flights from Dublin and Manchester expected in the next year" people used say.

We don't need it to be mainstream if what you're thinking of is a random shop accepting sh!tcoins, Ethereum is a back-end for finance and we just need business to use it.

UNICEF uses it to distribute funds to random villages and distribute funds for startups tackling health and poverty issues.

GUTS Tickets in the Netherlands use it to sell tickets and remove price-gouging scalpers/touts/Ticketmaster from the equation as their protocol only allows you to resell for face value. The consumer doesn't interact with the chain at all, they wouldn't know it was happening unless they went looking or heard about the service's backend.
This is also what people should bring up when you have a mouthbreather tarring NFT's as a worthless cancer - art NFTs are a racket designed for money laundering much the same as the IRL art world but NFTs can and do serve valuable functions.

EY are using it for supply chain/automation/back-end stuff for a lot of companies with the most recent addition being Birra Peroni a few days ago (also using NFTs), they run sidechains that notarise to Ethereum. They spent $1.5b past year due to increase demand for their services.

We don't need mainstream consumer adoption for Ethereum to succeed, we need business adoption and for them to want a cheaper, faultless automation-friendly & permanent record of account. The rest of the Big Four accounting firms are following EY's lead. Some are experimenting with other ledgers in combination with Ethereum and that's fine. Rising tide and all that.

Rob2D

cnocbui wrote: »

I had over 3800% profit at stake, I'm now back down to paltry 2,300%. I haven't sold anything and just continue to HODL. I won't be selling until I have emigrated to a low CGT country. I sleep just fine.

You must have a lot in reserve if that's the case! :pac:

Luckycharms_74

Have a listen to Charlie Weston and clown Cooper on the last word. If you are going to cover a topic then do some fcuking research.

Go to 19minutes

https://www.goloudnow.com/podcasts/the-last-word-with-matt-cooper-145/the-last-word-with-matt-cooper-may-19th-2021-430-pm-700-pm-280984

Rob2D

Luckycharms_74 wrote: »

Have a listen to Charlie Weston and clown Cooper on the last word. If you are going to cover a topic then do some fcuking research.

Go to 19minutes

https://www.goloudnow.com/podcasts/the-last-word-with-matt-cooper-145/the-last-word-with-matt-cooper-may-19th-2021-430-pm-700-pm-280984

"We just don't know anything about it"

My favourite:

"If the US dollar crashed 30% it would be a catastrophy"

Who wants to tell him :pac::pac::pac:

Dohnjoe

mcriot29 wrote: »

What did you invest in
They will all go up
Again soon

A strange mentality to have. Crypto has done well so far, but that's no certainty of perpetual gains in the future.

FileNotFound

Some rise in the prices at the moment

Pdoghue

Rob2D wrote: »

"We just don't know anything about it"

My favourite:

"If the US dollar crashed 30% it would be a catastrophy"

Who wants to tell him :pac::pac::pac:

Sorry, how do you access that segment? I can't see it in the podcast list.

Rob2D

Pdoghue wrote: »

Sorry, how do you access that segment? I can't see it in the podcast list.

Just hit the play button right under his chin.

Suckit

Pdoghue wrote: »

Sorry, how do you access that segment? I can't see it in the podcast list.

When you click on the link the show play button appears on his face, and then down on the bottom bar of the website, there is an up arrow on the right hand side to bring up the controls to skip forward.

https://i.postimg.cc/HkkvjV1X/Cooper.jpg

Pdoghue

Suckit wrote: »

When you click on the link the show play button appears on his face, and then down on the bottom bar of the website, there is an up arrow on the right hand side to bring up the controls to skip forward.

https://i.postimg.cc/HkkvjV1X/Cooper.jpg

Thanks, found it. Dreadful stuff alright.. ignorance all round..