Loser Araysar
Chief Russia Reporter. Stock Pals CEO. Head of AI.
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Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
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Guest, did you like the last podcast notification?? Well here's the second one, and for the third podcast! Yep. This Thursday 8-8-24 at 7pm Central
Go here to check out his podcast thread for info on topics and links!Go into the FoH discord and find the Happy Time Fun Hour channel and give it a listen!
Sanrith Descartes
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Arden
Blackwing Lair Raider
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Yeah, I mean you can pick just about anything in crypto and make money right now-- just as long as you don't catch the top of a pump. There is so much volume right now from both retail and institutional investors clamoring to invest in something crypto-related, hoping to get one of those lucky 1000x coins and pay off their mortgage. And, honestly, there's a lot of that going around. People are winning big. That happens when you flood a burgeoning young market with an extremely low entry point with a ton of volume. It's the textbook definition of a boom.
Comparisons are overused, but I think it is most like the .com boom. People will make a ton of money and, yes, it will eventually go bust, but the strongest coins will emerge from the bust as the world adopts crypto as part of day-to-day life, just like it did with the Internet. Remember, for as many .coms that failed and left people holding bags, there were quite a few that made it through and ended up becoming some of the biggest names today.
So unless you are trying to just ride the wave and get off before it breaks (which, to be clear, isn't necessarily a bad idea if you don't mind a ton of risk), I'd say make sure you are picking coins with strong use case and a smart, dedicated community of developers.
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Kiroy
Marine Biologist
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when I go to a get together of of rednecks and ranchers, who purposely stay away from most technology unless it's work related, and all of them are huddled together with their phones out downloading binance and talking about vechain, you know we've reached some sort of critical mass where shit is going to be super fucked up pretty soon
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Arden
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The strong will survive, but a whole lot of shitcoins are going to be dying out in spectacular fashion. (I DO like Vechain for the record though)
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Loser Araysar
Chief Russia Reporter. Stock Pals CEO. Head of AI.
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i really dont like trading random crypto so i was very wary of buying FORTH but it paid off this one time today
mostly i stick to BTC and ETH but BTC is dead in the water and ETH is at all time high right now so im just twiddling thumbs with altcoins while waiting for ETH to get back to low 2000s so I can buy back in for another pump
i definitely dont want to keep any of these shitcoins for longer than few days
ETH and BTC and VET are the only ones id keep based on what I read (mostly here)
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So I’m back in cash again like I said yesterday, still approximately $10k up from two weeks ago.
The market is a lil’ worrisome at the moment. ETH all time high, awesome. Bitcoin though chasing and retesting new lows every day for a few days now. That would seem abnormal, no? It’s dragging some other things with it. I can only imagine what ETH would be right now if BTC was in the 70s already.
I kinda want to wait and see what happens this weekend before buying into anything again. Am I overthinking things perhaps?
The market is a lil’ worrisome at the moment. ETH all time high, awesome. Bitcoin though chasing and retesting new lows every day for a few days now. That would seem abnormal, no? It’s dragging some other things with it. I can only imagine what ETH would be right now if BTC was in the 70s already.
I kinda want to wait and see what happens this weekend before buying into anything again. Am I overthinking things perhaps?
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Arden
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I personally don't think it's strange that ETH is moving independently of BTC. Like I've said before, I always expected it to happen, just not necessarily right now. Even now, I don't think it's completely independent. BTC is probably still the broad barometer for crypto health. If BTC were to completely crash through the floor, I think it would negatively impact ETH- but maybe I'm wrong.
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Got it.
Everything just seems a bit overly frothy at the moment (to use that buzzword.) I’m a gambler but with a modicum of risk aversion. Shit just seems sketchy to me right now with these frequent dumps.
Could just be my inexperience in crypto markets too.
Flobee
Vyemm Raider
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It is pretty normal in the time I've been paying attention to the crypto market to BTC to make a big run, then alts will rally and move independently for a while as BTC move sideways for a few months. Eventually BTC runs again and alts dump in BTC terms. BTC hits new high, moves sideways, and pattern repeats. Nothing happening now is really unique from the past year or so.
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To add, and I realize this guy isn’t the authority and says a lot of grandiose / bullshit statements, but BitBoy just made a video where at the end he states “if ethereum keeps rising and bitcoin keeps falling, we should be concerned.” I think that much is true. Bitcoin not going up at all seems bad, supposing this continues for some time.
Lambourne
Ahn'Qiraj Raider
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It's a get rich quick mindset market, if it's not going up, it might as well not exist right now. I've been short on BTC since Sunday now and it just keeps hovering a few percent below my entry price. It's been slowly trending downward over the week but I was really expecting a breakout up or down by now. Been stuck for days trying to decide if I should take my 3% profit or watch it go up in smoke if it breaks out, or miss out on gains if it drops further.
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Flobee
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That dude is king shill. I would be VERY cautious with anything he says. He'll set you up to make money until he feeds you to the whales. That's literally how he makes his money. When I talk about shitcoin shills this dude is exactly what I'm talking about. Scum of the industry.
If you think in longer timeframes everything these dipshits say is worthless. If you're chasing market movements week by week you're going to get wrecked. I wouldn't sweat the BTC/ETH ratio unless things move drastically and stay there. Its just not that important.
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Oh I agree. He’s full of shit (ETH to 25k by end of year for example.) That particular statement though...he’s not the only one saying it.
Arden
Blackwing Lair Raider
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Any word on what "big taxes" means? We already pay on every crypto trade that results in profit. What more is there to tax?
Flobee
Vyemm Raider
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Yea, sometimes they're right, but you have to question WHY the chorus of shitcoin Youtubers are all saying the same things (hint: they're paid by the same people).
Not saying he's wrong, just that him and those like him are bad sources.
Could the bullrun be ending? I mean maybe, but there is a serious supply crunch of BTC setting up right now so personally I doubt it. We'll see.
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Arden
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Lol I'm reading an 80% crypto tax on Fintwit. Yeah... Bullshit. This is like that news that the DoJ is investigating a bunch of companies for crypto money laundering. Just floating a rumor to get a big crypto dip so whales can buy in.
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