Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
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Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
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Aaron
Goonsquad Officer
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I understand your sentiment. I was in that boat a long time, thought this whole crypto shit was dodgy as fuck and only something either nerds or criminals would be into and it would soon all collapse. But this past year I've come to the conclusion that it's one of the best ways to both invest short term but also to hedge against inflation long term. The only other real substitute is buying gold or silver, but there you have the problem of either buying "paper" gold/silver that is leveraged to the stratosphere (hence Robinhood trying to blow up the market in silver a month or two back), or buy physical bullion and hope it's not just gold plated titanium. Also, where are you going to keep it? Under your bed? Also, it's harder to trade gold/silver than crypto at the moment, and if the shit hits the fan, barring a full blown Internet RIP event or a Carrington/EMP event, then crypto will always be tradable instantly.
I also think that baring short term dips, the trajectory is up. The reason for this is twofold. First, as the meme that someone posted here goes, it's not really the value of the crypto that is going up, but the value of the dollar going down. Inflation is rearing it's ugly head and if anything happens to weaken the Petrodollar then it's Weimar 2.0 for the US$. The second is that with all the shit that is going down in the world, using crypto, especially BTC, to circumvent sanctions and shit will only increase. Just last week the EU parliament voted to cut Russia off from SWIFT if it even looked at the Ukraine in a bad way. Were that to happen, trade would not cease, but the Russians would instead buy BTC in rubles and sell in dollars and vice versa. Trade volume would go up and the price would go up.
You do have arguments against, and yes, it is a risk, but hell, just keeping your money in the bank is a risk now, not only from the bank going tits up in the next financial shock, but most bank accounts in the West now have zero, or next to zero interest rates along with inflation means you're losing money (or value) anyway. In a sound and civilised world we would not need crypto, but we are a long way from Kansas here in the Bat Flu 2021s.
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How Ethereum Classic Will Surge Past $7,000 in the Next Ten Years
As complementary base layer systems, Bitcoin and Ethereum Classic will work as digital gold. Given the level of maturity and success the blockchain industry has achieved in the last twelve years, the consistently accelerating cycles in new technologies and global platforms, it is reasonable to expec
etherplan.com
Also-Ran Ethereum Classic Catches Up Amid Crypto Market Frenzy, Hits Record
Bull frenzy grips crypto markets as the hunt for yield goes beyond bitcoin and ether.
Went to do some searching after ETC started shooting up. Thoughts on ETC long-term? The articles give some compelling points.
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Flobee
Vyemm Raider
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I own some ETC because I figured it would spike as ETH goes to PoS and miners looks to move their hashrate elsewhere. Been a good thesis so far.
However, ETC has been 51% attacked multiple times in the last year and has little to no development on the chain. If ETH 2.0 blows up in utter catastrophe it could potentially get huge but I wouldn't count on it. You can probably ride a pump wave but the fundamentals aren't awesome IMO.
Tmac
Adventurer
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What about the articles point that a few coins will exist at the base layer and that ETC will be the only proof of work for contracts?
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Mist
REEEEeyore
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lol thinking Ethereum will take 10 years to shoot past 7000? 6 months tops.How Ethereum Classic Will Surge Past $7,000 in the Next Ten Years
As complementary base layer systems, Bitcoin and Ethereum Classic will work as digital gold. Given the level of maturity and success the blockchain industry has achieved in the last twelve years, the consistently accelerating cycles in new technologies and global platforms, it is reasonable to expec
Also-Ran Ethereum Classic Catches Up Amid Crypto Market Frenzy, Hits Record
Bull frenzy grips crypto markets as the hunt for yield goes beyond bitcoin and ether.www.coindesk.com
Went to do some searching after ETC started shooting up. Thoughts on ETC long-term? The articles give some compelling points.
Flobee
Vyemm Raider
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It's certainly possible. I bought a very small position when it was at like $5 for a reason. I have low conviction but the article does make some arguments I hadn't heard before. Not a subject I'm well read on TBH. My play was based solely on hedging against PoS.
Not Ethereum
Mist
, ETC. You're awfully bullish on ETH, you should read up on its history
Mist
REEEEeyore
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Woops I just can't read while on 3 conference calls at once.It's certainly possible. I bought a very small position when it was at like $5 for a reason. I have low conviction but the article does make some arguments I hadn't heard before. Not a subject I'm well read on TBH. My play was based solely on hedging against PoS.
Not Ethereum
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Ethereum Classic
Features Ethereum classic USD price, real-time charts, ethereum classic news and videos. Learn about ETC, crypto trading and more.
ETC, not Ethereum.
I thought the same thing when I read the headline too fast lol.
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Caliane
Avatar of War Slayer
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Doge and most of the Altcoins are straight up gambling. If you THINK you have an inside line on what is going to pump. good luck. the only difference from gambling is that. you can technically do research, and the ups and downs are based on human reactions, not a raw roll of RNG die.
Crypto in general is riding a massive wave right now. Will it bubble? has it already? maybe. but, good luck telling bubble from mass acceptance/adoption.
Crypto in general is riding a massive wave right now. Will it bubble? has it already? maybe. but, good luck telling bubble from mass acceptance/adoption.
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Caliane
Avatar of War Slayer
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ha.
one of the next ones too.
3 years later same discussion. Except now Litecoin also has been replaced. BTC and ETH not. XLM was around then. why was it not the go to for transfers then?
dotcom bubble does apply. None of the coins are 100% guaranteed to stick around.
someone is going to be a pets.com. someone else is going to be an amazon, chewy, etc.
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Intrinsic
Person of Whiteness
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Hopefully the house finally closes on the 24th then I'll need some place to stick that equity. Either another property or ride it all on ETH! $100k of Doge!
Could probably get a decent room comp'd in Tunica or Bossier playing enough Blackjack too....
Could probably get a decent room comp'd in Tunica or Bossier playing enough Blackjack too....
Flobee
Vyemm Raider
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Multiple big stories this week. Insurance company MetroMile will be both accepting payments and paying claims in Bitcoin.
I have to imagine BTC is going to absolutely rip soon. The price action isn't responding to these adoption announcement yet. Good luck with your DOGE gambles, I'm gunna hold the coin that is confirmably getting massive institutional adoption.
I have to imagine BTC is going to absolutely rip soon. The price action isn't responding to these adoption announcement yet. Good luck with your DOGE gambles, I'm gunna hold the coin that is confirmably getting massive institutional adoption.
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Tmac
Adventurer
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Of course it will bubble.
It's the dot com boom all over again. The challenge will be hopping off the Yahoo! train and onto the Google train at the right time.
The new Mantis: Bringing security and stability to the Ethereum Classic ecosystem - IOHK Blog
We’re committed to bringing innovation and fresh life to ETC and this is just the start
iohk.io
Seems to be the update that was being talked about to help with the hacking. Article from December.
Looks like the reward for mining ETC has surpassed ETH. Or was the last time I talked to my buddy. He said when ETC reached $ 75, it was even with ETH for his mining. And, ETC has gone up since then.
More miners moving to it could also boost it up?
It seems extremely high but also for how much of an increase it had, it really didn't dip as far as I expected. It's why I tried to figure out what was going on. It had a lot more resistance than I expected.
I was watching it live and tossed money into it for about 30 seconds during it's huge spike from like $ 1.10 to $ 144. I think I got in at $117 and was literally 20 seconds later it jumped above $ 130 and I sold it at $ 135 lol. It went to 144 briefly and dropped but it's been swinging 100-125 for awhile now.
Btw my #s are from Coinbase. Apparently Coinbase has a different price than everyone else for ETC.
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Loser Araysar
Chief Russia Reporter. Stock Pals CEO. Head of AI.
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I havent been able to keep with crypto much, too much RL shit going on
I sold my eth @2400 thinking it was going to dip down to 2k and i would rebuy. Needless to say thats not happening. Any chance it comes down to low 3k or is 3.5k the new bottom?
I got $15k in cash sitting that i dont need to access for a few months. Should i just buy now or keep waiting hoping it dips to 3200-3300?
I sold my eth @2400 thinking it was going to dip down to 2k and i would rebuy. Needless to say thats not happening. Any chance it comes down to low 3k or is 3.5k the new bottom?
I got $15k in cash sitting that i dont need to access for a few months. Should i just buy now or keep waiting hoping it dips to 3200-3300?
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Rangoth
Blackwing Lair Raider
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I posted a very similar little experiment with Nexo, same exact thing. I didn't put down as much as you but I actually got myself in a position where I could borrow at 5.9% and then earn 10% on the very thing I borrowed, creating an awesome little 4.1% "do nothing" gain.
Overall it seemed like I could make more trading in normal ways in other areas, but it 100% legit worked and I made 1.00$ before I stopped the test lol
I did recently move most of my "long" crypto investments to Nexo. Well find out if I am fucking retarded or not in 2-5 years(my planned hold unless things keep skyrocketing). But I am earning 5-6%, in like coin interest, on stuff I was going to just sit on anyway.
Overall it seemed like I could make more trading in normal ways in other areas, but it 100% legit worked and I made 1.00$ before I stopped the test lol
I did recently move most of my "long" crypto investments to Nexo. Well find out if I am fucking retarded or not in 2-5 years(my planned hold unless things keep skyrocketing). But I am earning 5-6%, in like coin interest, on stuff I was going to just sit on anyway.
James
Ahn'Qiraj Raider
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Ethereum going to be somewhere between $10,000 and $20,000 by the end of this year, and Truebit is the best long term play right now.
