Bitcoins/Litecoins/Virtual Currencies

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Caliane

Caliane

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Lambourne said:
I still hold some Monero (XMR), it's a strong privacy coin and can be mined on video cards effectively (unlike BTC which has moved to specialized purpose-built systems mostly).

Sold my BTC in the slide on monday. Even selling at what turned out to be the bottom I still nearly tripled my investment. It's been moving back up in the last 24h but I'm thinking this is a bull trap. Expecting it to drop under 20k again in the next few weeks.
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yeah. lots of people think its a bear trap. big guys intentionally dipping to get shake loose coin, from people wanting to get out.
that it kept getting bought as soon as it got close to 30k was some evidence for that.
Alternatively, as you say.. bull trap, and its going to drop.

Dunno.

That said, its going up big time right now.
40k BTC.
1.2k Eth.

If you missed it the first time, and want take your cash and go home. maybe now is the time for you.
Alt, if you think its just going to go up.. hope you were able to buy the dip.
 
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Araysar

Loser Araysar

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Caliane said:
yeah. lots of people think its a bear trap. big guys intentionally dipping to get shake loose coin, from people wanting to get out.
that it kept getting bought as soon as it got close to 30k was some evidence for that.
Alternatively, as you say.. bull trap, and its going to drop.

Dunno.

That said, its going up big time right now.
40k BTC.
1.2k Eth.

If you missed it the first time, and want take your cash and go home. maybe now is the time for you.
Alt, if you think its just going to go up.. hope you were able to buy the dip.
Click to expand...

im banking on it going down to low 30K in next few weeks.

i think at this point 38k-42k is the ceiling, it needs another major announcement for high profile backing to start keeping it in the 40k-50k territory. Maybe something like Musk announcing that he's going to keep all of Tesla's cash in BTC or several banks jumping on board and announcing support and/or products for the currency.

not a lot of people want to buy it at 40k (which says a lot), but everyone rushes in to buy "the dip" when it hits low 30s. i think psychologically the floor has been established at 30K, more or less permanently.
 
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Ravishing

Ravishing

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Stories like this make me glad I never went in hard in the early days:
www.foxnews.com

Programmer who could lose hundreds of millions in bitcoin shares 'painful memory'

Stefan Thomas, the programmer who lost $260 million worth of bitcoin when he couldn't remember his password, said there's "no chance" he'll ever recoup his lost fortune, calling it a "painful memory."
www.foxnews.com www.foxnews.com

When I saw this in 2010 I thought the Pizza guy basically gave away pizzas for free.
www.investopedia.com

Bitcoin Pizza Day: Celebrating the $250 Million Pizza Order

Bitcoin Pizza Day is the day a Florida man bought two pizzas for 10,000 bitcoins, now worth millions.
www.investopedia.com www.investopedia.com
 
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Caliane

Caliane

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80million in june of 2019.
395,000million today.

and lost passwords.. seems like its going to be a real problem. I wonder what the founders thought of the constant loss of bitcoin over time?

20% of all BTC is lost and unrecoverable.
www.investopedia.com

20% of All BTC is Lost, Unrecoverable, Study Shows

Users may have misplaced or lost 20% of all BTC.
www.investopedia.com www.investopedia.com

This feels like a problem that is only going to get worse as it becomes more mainstream.


my commie friend that said he lost his wallet, with 2 btc. eventually clarified and said it was mt. gox. Earlier discussions made it sound like it was either a software wallet he forget which it was, or a hardware one he lost his passwords too.
 
Brad

Brad

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I know the price could go either way, betting that it will go up again once all the weak hands has been shaken and those who wanted to cash out has done so.

My bet is that the price will go up to around 70k by March 🤞, then it will be time for me to sell a few.. 🍻
 
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Araysar

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Brad said:
I know the price could go either way, betting that it will go up again once all the weak hands has been shaken and those who wanted to cash out has done so.

My bet is that the price will go up to around 70k by March 🤞, then it will be time for me to sell a few.. 🍻
Click to expand...

We'll see. My brother is big into it and all he does is read BTC twitter and spam me with memes and various proclamations from "BTC experts" on TWitter.

I think theyre right about some stuff like stage of adoption, institutional support, etc. but the numbers they throw around valuations are pure fantasy. "100K by summer! 250K by Summer 2021!" -- it might happen and ill eat a plate of crow if it does, but these exponential jumps arent grounded in any reality. This is just carnival barkers, acting like penny stock cheerleaders, hyping it up to boost the value of their own coins.

Last 24 hours, once again it reaches 40,100 and then retreats down to 37,400. Why is that? Why cant it seemingly stay at 40K consistently?

1610717937572.png


Like I said, psychological price floor/ceiling is established now. You'll need another major announcement for institutional support or adoption to move the needle any further. It would need to be some world changing announcements to add another 30K to its price.
 
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LachiusTZ

LachiusTZ

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Araysar said:
We'll see. My brother is big into it and all he does is read BTC twitter and spam me with memes and various proclamations from "BTC experts" on TWitter.

I think theyre right about some stuff like stage of adoption, institutional support, etc. but the numbers they throw around valuations are pure fantasy. "100K by summer! 250K by Summer 2021!" -- it might happen and ill eat a plate of crow if it does, but these exponential jumps arent grounded in any reality. This is just carnival barkers, acting like penny stock cheerleaders, hyping it up to boost the value of their own coins.

Last 24 hours, once again it reaches 40,100 and then retreats down to 37,400. Why is that? Why cant it seemingly stay at 40K consistently?

View attachment 329223

Like I said, psychological price floor/ceiling is established now. You'll need another major announcement for institutional support or adoption to move the needle any further. It would need to be some world changing announcements to add another 30K to its price.
Click to expand...

Or a 2T inflation pump
 
LachiusTZ

LachiusTZ

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Araysar said:
Eh maybe. But I dont see 2T moving the needle that much either.
Click to expand...

Sad but true.

It does move the psychological needle tho... Unemployment 400$ bonus until September, prolly going to start seeing state govt bailouts, another 1400$, increased spending.

I don't expect the dollar to be worth much in a decade, or maybe 3-5 years.

Which if the pacing of 2021 tells me anything, the dollar won't mean shit in about 2 months.

And 2t is day one... God knows what kind of insanity we are really in for once the clown car picks up speed
 
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Caliane

Caliane

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yeah, its refusal to break over 40k and consistently rise is a bit concerning. I'm stilling leaning on, this is some shaking for small investors. and then "institutions, inflatin, etc" will cause it to slowly rise over the year to year. but I would not blame anyone for taking their money and bailing.

I'm more interested in Eth atm. While it rises and falls with BTC. it DOES have eth 2.0 rollout going on. Which I expect will increase demand, and adoption, over the year.
and then can be staked in a pool to earn 5-10% /year. (with fees, and risk of letting someone else handing your eth.)
 
Araysar

Loser Araysar

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I'd have more faith in ETH if:
1. it was a limited supply like BTC
2. it was designed as a currency first

Right now the quantity of ETH is unlimited and its primary use is smart contracts, not as a currency.

Its trading something as a stand-in for currency, just because it happens to have some value in other ways. Might as well trade 22 inch rims.
 
Flobee

Flobee

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Caliane said:
yeah, its refusal to break over 40k and consistently rise is a bit concerning. I'm stilling leaning on, this is some shaking for small investors. and then "institutions, inflatin, etc" will cause it to slowly rise over the year to year. but I would not blame anyone for taking their money and bailing.
Click to expand...
i mean, BTC was under 20k just a month ago. I don't see much reason to be concerned. This cycle is just starting
 
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Caliane

Caliane

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yeah. but, stakingyourself... is looking pretty rough to me.
32 eth required. which, is $38,400 right now. and, hell, people are predicting a massive rally for Eth shortly. possibly hitting $3k. $96k needed to stake by yourself..

The actual process. 1. ideally should be on a UPS supplied dedicated desktop pc. 2. needs stable internet connection with no data caps. 3. some technical knowhow.
I could technically do these things. but do consider the power, and data connection costs, as well has hardware, generator, etc. #3 would require research and testing.. ideally.. no other job. Like this is something I'll do when retired for sure. but while trying to work? no thanks. Cause if anything goes wrong, you'll be losing your staked eth for every minute its down.

So atm, even if I had 32 eth, I'd probably be looking to pool it instead.
 
Ravishing

Ravishing

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If the economy tanks, BTC will drop bigly.
They will pump trillions into the economy but without a focus on reopening & job creation, we're in for a world of hurt.

BTC is most likely to drop further before going up.
 
LachiusTZ

LachiusTZ

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Caliane said:
yeah. but, stakingyourself... is looking pretty rough to me.
32 eth required. which, is $38,400 right now. and, hell, people are predicting a massive rally for Eth shortly. possibly hitting $3k. $96k needed to stake by yourself..

The actual process. 1. ideally should be on a UPS supplied dedicated desktop pc. 2. needs stable internet connection with no data caps. 3. some technical knowhow.
I could technically do these things. but do consider the power, and data connection costs, as well has hardware, generator, etc. #3 would require research and testing.. ideally.. no other job. Like this is something I'll do when retired for sure. but while trying to work? no thanks. Cause if anything goes wrong, you'll be losing your staked eth for every minute its down.

So atm, even if I had 32 eth, I'd probably be looking to pool it instead.
Click to expand...

You don't lose it all immediately, and you can stake your own ETH on AWS, provided you aren't guilty of wrong think.

I am curious how much horsepower out would take.

Like could you have a desktop running a stake and mining at the same time? Maybe have 2 gpus?
 
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Flobee

Flobee

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Caliane said:
yeah. but, stakingyourself... is looking pretty rough to me.
32 eth required. which, is $38,400 right now. and, hell, people are predicting a massive rally for Eth shortly. possibly hitting $3k. $96k needed to stake by yourself..

The actual process. 1. ideally should be on a UPS supplied dedicated desktop pc. 2. needs stable internet connection with no data caps. 3. some technical knowhow.
I could technically do these things. but do consider the power, and data connection costs, as well has hardware, generator, etc. #3 would require research and testing.. ideally.. no other job. Like this is something I'll do when retired for sure. but while trying to work? no thanks. Cause if anything goes wrong, you'll be losing your staked eth for every minute its down.

So atm, even if I had 32 eth, I'd probably be looking to pool it instead.
Click to expand...
i ran a validator in the most recent testnet before 2.0 release. It's honestly not a big deal. You're correct that you want to maximize uptime, but I don't think its as difficult as you're making it out to be.

To be fair I do work in IT so I have some familiarity with Linux, technical workplans etc
 
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