Bitcoins/Litecoins/Virtual Currencies

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Rajaah

Rajaah

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Arden said:
Ya, Binance supports VET. Don't know what state you are in though, so you may not be able to get Binance.
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Looks like I can get Binance. I forgot, I meant to look into it already because of discussions a few pages back. Doesn't it have lower fees than Coinbase or something along those lines?

I'm sorta looking to get off Coinbase after their fees completely wiped out the BTC gain I made from selling at 59k and then buying at 57k.
 
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Arden

Arden

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Rajaah said:
Looks like I can get Binance. I forgot, I meant to look into it already because of discussions a few pages back. Doesn't it have lower fees than Coinbase or something along those lines?

I'm sorta looking to get off Coinbase after their fees completely wiped out the BTC gain I made from selling at 59k and then buying at 57k.
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I think their fees are like 500% lower than coinbase.

I have Binance, but be aware of some things:

1. They aren't a U.S. company (but they have a U.S. operation). In fact, the location of their HQ is undisclosed... As in no one knows where it's located. The founder is Chinese.

2. They have a super rigorous verification process and it can take a while. They require a Government ID (driver's license) and even require you to submit a scan of your face for facial recognition...
 
Rajaah

Rajaah

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Arden said:
I think their fees are like 500% lower than coinbase.

I have Binance, but be aware of some things:

1. They aren't a U.S. company (but they have a U.S. operation). In fact, the location of their HQ is undisclosed... As in no one knows where it's located. The founder is Chinese.

2. They have a super rigorous verification process and it can take a while. They require a Government ID (driver's license) and even require you to submit a scan of your face for facial recognition...
Click to expand...

Jeepers. Well, I'll sell out to the surveillance state if it means less Coinbase fee fleecing. Hopefully VET doesn't skyrocket during this whole verification process.
 
Arden

Arden

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Rajaah said:
Jeepers. Well, I'll sell out to the surveillance state if it means less Coinbase fee fleecing. Hopefully VET doesn't skyrocket during this whole verification process.
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Good luck. Seriously. As I've said the last few pages I'm going to get screwed buying ETH because I had to wait for the various verification/transfer processes of switching things to Binance. It's gone from $1600 to $2100+ since I decided to switch to Binance and invest heavily.

Hope VET holds off longer for you.
 
Jackie Treehorn

Jackie Treehorn

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Guess I’ll sign up for a Binance account also.
Aren’t they the ones you guys mentioned lost money a few years back, but gave everyone their money back? That sounds hopeful, at least. 😜

Edit:

Took less than 10 minutes to become fully verified. All the way through advanced verification and USD verification. Weird, I read that some people take weeks.

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114BF5DE-3CDA-45EA-BDCC-F0770535C264.jpeg
 
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Tmac

Tmac

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Arden said:
Yep, 3/29. If I really believe the stuff I've been saying- that ETH could very possibly be 100k by 2023- I should just put my money where my mouth is and buy at $2100. At that point, who gives a shit between a $2000 or $2100 entry? Of course you should always try and get the lowest possible buy in, not even because it saves you money now, but because all that fractional ETH I could have had if I bought at $2000 instead of $2100 would be worth a boatload at 100k (or even 20k).

That said, you can get fucked if you wait too long for a dip. If Tmac Tmac had waited for that dip he wanted a while back instead of jumping in, he'd still be waiting for it- because it never happened.

I think I'm good for another couple days of waiting for a $2050 dip, then I'm buying in regardless.
Click to expand...

I got into crypto in 2017. It took two years to get the dip and by that time I’d completely stopped watching the price of BTC. I got in at $11k. It wventually went down to $5k a couple years later. I sold at $32k. I got back in at $48k and $59k.

I’ve got $4500 in BTC and $5500 in ETH. My plan is to keep that basis for 10+ years. If BTC or ETH drop 30%, 50% or more, of their value I’ll buy again.
 
Flobee

Flobee

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Haus said:
So how many of you think the BTC bull run will get north of $100k? 200K?

This guy seems to think 100-150 looks like a fair estimate with a couple projections for 200-300.
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Based on past bull runs, which obviously doesn't guarantee anything about the future, 100k+ seems to be the consensus minimum for this cycle.

The peak estimates are all over the place

JP Morgan's bitcoin price prediction is $130,000.
PlanB model bitcoin price prediction is $280,00.
Citibank's bitcoin price prediction is $318,000.
Guggenheim's bitcoin price prediction is $600,000.
 
Flobee

Flobee

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LachiusTZ said:
Flobee Flobee

Was it you that said investing in BTC is like gold and ETH is like the internet?
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I may have yea. I have to admit though, the more I dig into this space the less convinced I am about the ETH value proposition. I think overall investing in and understanding crypto as a whole is like being involved with the internet in 1995. This is going to be a massive industry but you probably need to bet on the right horse to see the upside long term.
 
Tmac

Tmac

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Flobee said:
I may have yea. I have to admit though, the more I dig into this space the less convinced I am about the ETH value proposition. I think overall investing in and understanding crypto as a whole is like being involved with the internet in 1995. This is going to be a massive industry but you probably need to bet on the right horse to see the upside long term.
Click to expand...

Yahoo! to the moon!

I think there will be horses that win in the short term and those that win in the long term. How you play the game now will make zero difference bc you’re playing and bc gainz.

If it was 1995 I’d invest in Yahoo!, sell at the bubble burst, and then invest in Google. Same might be so for crypto.
 
Khane

Khane

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So even if you had a time machine you'd invest in Google over Amazon? Hrmmmmmmmmmmm
 
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Flobee

Flobee

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Tmac said:
Yahoo! to the moon!

I think there will be horses that win in the short term and those that win in the long term. How you play the game now will make zero difference bc you’re playing and bc gainz.

If it was 1995 I’d invest in Yahoo!, sell at the bubble burst, and then invest in Google. Same might be so for crypto.
Click to expand...
That assumes that you know who Yahoo! is and who Amazon or Google is. We don't though. We also don't know where the tops are going to be. Its pretty obvious that you'd follow that plan if you knew what was going to happen.

How you play now makes all the difference. You can see examples in this thread, yourself even, of people that sold at the 'wrong' time and regret it. I would agree that being in the game right now is better than not being in, absolutely.
 
Tmac

Tmac

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Flobee said:
That assumes that you know who Yahoo! is and who Amazon or Google is. We don't though. We also don't know where the tops are going to be. Its pretty obvious that you'd follow that plan if you knew what was going to happen.

How you play now makes all the difference. You can see examples in this thread, yourself even, of people that sold at the 'wrong' time and regret it. I would agree that being in the game right now is better than not being in, absolutely.
Click to expand...

That’s my point. We don’t know, but we have some idea. Ultimately, there are early winners and late winners.
 
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L

Los_Necros

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and looks like it was not able to withstand the sell off this time around. Back down to 1.23 after a decent stay at 1.30ish range. It had been awhile since it got above the 1.23 or so area so was nice to see.
 
Haus

Haus

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I'm still of the opinion that BTC is like "gold" in being a store of wealth.

The problem is we need an effective "money" which means a cryptocurrency which can be easily used by people in payments and such. And we really don't have that yet. ETH seems to WANT to be that, but the gas fees and such make it untenable right now for that. Now, once full scaling comes into play and if they manage to get those gas fees down then we're possibly talking. We could see see some other alternative, such as ADA, step into that space. I'm also looking at some of the DeFi projects that could. But the problem being the world (or at least countries) will need to agree on one which people will gravitate into. Which means a LOT of DeFi projects aiming to be the "next cash" will go to zero.

In the meantime I suspect we will see good old USD act as the "last mile" currency. So you'll hold crypto in an account, attach a debit card to it, and it cashes out your crypto as you spend USD. A key to this will be making the associated fees and such as transparent as possible to the common folk. They're used to not knowing that CC and Debit card charge a % of things, but the sellers absorb those normally. Adoption will be slow if people think "Well, with regular money I'm not needing to pay a fee to use my money". The problem with Crypto is that usually it's a flat fee, and not a % of the transaction. And for small transactions (like buying a coffee) that's insane obviously.
 
TJT

TJT

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I avoided buying Crypto for a whole lot longer than I should have. Because I made the mistake in thinking it was "dumb to buy." Well it still is, but much like TSLA I have been 100% wrong every single time I thought that.

So I'll start buying some and see what happens in the long run.

I think LachiusTZ LachiusTZ advice is the simplest and most effective. Crypto isn't going anywhere and it makes money. Don't really need to think about it more than that. Some coins will obviously fail and others will succeed so don't All In on something unless you think Valhalla truly awaits you. And if that's the case post results on your wild ride!

I'll put down $5k or so across a few every couple years and see how it shakes out.
 
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Flobee

Flobee

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I'd argue its much more likely in the medium/short term that stablecoins are the 'money'. When you look longer term (5+) years Bitcoin scaling on layer 2 and 3+ give it a high possibility of being a unit of account and transfer, money. Sure it might be ETH or whatever other chain if things shake out in a particular manner. You have to ask though, if value is being stored in BTC, and BTC is capable of scaling for micropayments (it likely will, see Sphinx for example or Strike: Bitcoin & Lightning Payments - Apps on Google Play) then why would any other blockchain have a use case for exchange of value?

That isn't to say that other blockchains won't have use cases, they will. I just question whether 'money' will be such a use case. I imagine a world where you have wallet(s) that hold your fiat currency, crypto, stocks, digitized identity, proof of ownership (Deeds etc) and you trade between these things in a trustless and seamless manner. The fight for internet money has already been won though.
 
LachiusTZ

LachiusTZ

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Flobee said:
I'd argue its much more likely in the medium/short term that stablecoins are the 'money'. When you look longer term (5+) years Bitcoin scaling on layer 2 and 3+ give it a high possibility of being a unit of account and transfer, money. Sure it might be ETH or whatever other chain if things shake out in a particular manner. You have to ask though, if value is being stored in BTC, and BTC is capable of scaling for micropayments (it likely will, see Sphinx for example or Strike: Bitcoin & Lightning Payments - Apps on Google Play) then why would any other blockchain have a use case for exchange of value?

That isn't to say that other blockchains won't have use cases, they will. I just question whether 'money' will be such a use case. I imagine a world where you have wallet(s) that hold your fiat currency, crypto, stocks, digitized identity, proof of ownership (Deeds etc) and you trade between these things in a trustless and seamless manner. The fight for internet money has already been won though.
Click to expand...

The ETH as internet analogy naked sense to me as it seems to provide utility.

I don't know if BTC layering is able to do the same things or can overcome the ecosystem already built on ETH
 
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