The Everything Bitcoin Thread

[sassbs]

3 hours ago, GLASSJAW said:

not only is Cardano NOT an incredible project, it actually has no WORKING product. yes, great, it finally achieved decentralization after years and years of minting from IOHK (and Hoskinson LITERALLY bought his lambos), but not until Cardano releases a working smart contract network, which it should have done years ago, will I even consider it a functional product, let alone an incredible one. and once it releases its long-overdue testnet and public network, it will have to prove to be functional for use (look at the problems eth is now having with network congestion)

 

if you just watch Hoskinson talk about the Cardano roadmap, you'll see he offen defers to things like academics and research regarding theoretical scaling as the reasons for these delays - paper publishing is more important than testnets, i guess? - and like clockwork these issues lead into vague tangential rants about governance and like the liberation of Africa, still without there being an actual working product. in recent years he has said use and utility will potentially work in scale in 3-5 years, with the governance spook being solved "within decades."

 

in the meantime will people make money? sure. but like i said regarding Bill Maher's video, there are companies out there making products that hundreds of millions of people rely on every single day and they don't even have half the ADA marketcap. in what world is Cardano an incredible project and not just, at best, an incredible idea?

 

i love bubbles because they're great for making money, but emotional attachment to investments is the easiest way to be left holding the bag

You are right with these points, however,  Cardano is mitigating all the problems that ETH is going through now.....When you build a plane you don’t want it to fly with all kinda fundamental problems cuz ur $&!# will crash (which ETH is going through now)- instead they took the slower and more methodical approach to build a solid ecosystem which was meticulously timed to roll out the same time the bull market peaks....Greyscale trust, Africa deal, ERC-20 converter, over 70% of ADA being staked in Yoroi and Daedalus wallets goes to show that they have the backing of institutions and retail investors.....Who knows how they will perform 4 years from now but the mere fact that they have been this relevant on the cusp of the launching of their smart contracts goes to show that people are speculating that ADA will compete with ETH.....Their transaction fees are dirt cheap, they have an ERC-20 converter that allows any developer that’s on ETH to EASILY MIGRATE to ADA protocol, their building the same ecosystem like ETH (DEFI, NFTs, Oracle chains, derivatives), but it will be cheaper and faster....It will perform really well in this cycle and the next 4 years is all dependent on its utility....

 

I’m a 100% supporter of ADA

[I.Am.Ironman]

On 5/4/2021 at 1:16 PM, drummer4now said:

Doesn't help that Musk and other Billionaires jokingly help raise the price up and down. 

I am sure it is like a joke coin for them. 

 

I have doubled down on what I call the big 4 (Bitcoin, Ripple, Litecoin, and Ethereum) 

 

These coins aside from Ripple have produced great results. 

What makes Litecoin unique?

[drummer4now]

4 hours ago, I.Am.Ironman said:

What makes Litecoin unique?

Not necessarily unique but it is a very stable coin that is reaching all time highs now. 

 

IMO it is like 3rd best behind bitcoin and eth 

 

Ripple has been disappointing thus far... 

 

I don't invest in coins under $10.00 just waste of time unless you have plenty of capital/patience to spend. 

Edited May 9, 2021 by drummer4now

[themcdeal]

ETH/BTC valuation is now at 8%

On the fence if I want to convert my ETH. I think ETH will outperform BTC this cycle but overall BTC is king. 

[nuckin_futz]

 

I'd be willing to bet Binance won't be the only company to be investigated.

[Ronaldoescobar]

OUCH.... Rough 24hrs (nvm the past month) for crypto to say the least

[themcdeal]

People are always complaining about missing the boat but then are afraid to jump in when a correction takes place lol.

This is a great buying opportunity. Corrections are normal doing bull cycles....
 

 

[Tortorella's Rant]

1 hour ago, themcdeal said:

People are always complaining about missing the boat but then are afraid to jump in when a correction takes place lol.

This is a great buying opportunity. Corrections are normal doing bull cycles....
 

 

Is it a correction though? Elon went off the deep end with this thing. Granted crypto market was declining with inflation fears (so much for it being a hedge against inflation). It is alarming how one guy can send the whole crypto market into a frenzy up or down which makes me question the validity of all this. China is "going after" crypto mining; Binance being investigated and so forth. BNN also had guests saying this thing will be roughly 100,000 by end of year, and others saying that BTC has been around for over a decade now and that if there was any real validity behind it, it would already be much bigger player in commerce and banking than it is right now, and that down the road there will be other technologies and cryptos that will supersede BTC and even ETH in practicality, efficiency, and so forth. 

Edited May 19, 2021 by Tortorella's Rant

[Tortorella's Rant]

.

Edited May 19, 2021 by Tortorella's Rant

[Bad_BOI_pete]

https://twitter.com/NorthmanTrader/status/1392812965863297026

 

the moment of truth 40k, if BTC Can stay here and the market recovers,maybe it can break through.

 

but im guessing by days end there will be another sell off. 

Edited May 19, 2021 by Petey_BOI

[TheFly]

Bought 300 ebit at $18.60.  Sold 200 Ebit at $17.60. lol Now that's what you call dipping your toe in the water.

[drummer4now]

18 minutes ago, TheFly said:

Bought 300 ebit at $18.60.  Sold 200 Ebit at $17.60. lol Now that's what you call dipping your toe in the water.

So essentially at a loss.. 

 

I think most people don't understand that crypto is essentially a long term investment, and what mean by that is at least 5- 10 yrs or more. 

 

Never sell at a loss unless you have no choice. 

[TheFly]

19 minutes ago, drummer4now said:

So essentially at a loss.. 

 

I think most people don't understand that crypto is essentially a long term investment, and what mean by that is at least 5- 10 yrs or more. 

 

Never sell at a loss unless you have no choice. 

Well... I still have my 100 shares. If it rises 10% from here I will be back in black.

[Tortorella's Rant]

 

[UnkNuk]

A while back we were talking about how secure Bitcoin wallets were.

 

Apparently, the US Justice Department has recovered some of the ransom paid after the Colonial Pipeline cyber attack.  Article here:

 

https://www.nytimes.com/2021/06/07/us/politics/colonial-pipeline-ransom-justice-department.html

 

The part of the article that caught my eye was this:

 

"The seizure on Monday marked a first-of-its-kind effort by a new Justice Department task force to hijack a cybercriminal group’s profits through a hack of its Bitcoin wallet. The Justice Department said that it had seized 63.7 Bitcoins, currently valued at about $2.3 million. (The value of a Bitcoin has dropped over the past month.)"

 

If so, and if the Justice Department can do it, how long before other groups figure out how to do it?

 

Again, how secure are Bitcoin wallets?

[drummer4now]

13 minutes ago, UnkNuk said:

A while back we were talking about how secure Bitcoin wallets were.

 

Apparently, the US Justice Department has recovered some of the ransom paid after the Colonial Pipeline cyber attack.  Article here:

 

https://www.nytimes.com/2021/06/07/us/politics/colonial-pipeline-ransom-justice-department.html

 

The part of the article that caught my eye was this:

 

"The seizure on Monday marked a first-of-its-kind effort by a new Justice Department task force to hijack a cybercriminal group’s profits through a hack of its Bitcoin wallet. The Justice Department said that it had seized 63.7 Bitcoins, currently valued at about $2.3 million. (The value of a Bitcoin has dropped over the past month.)"

 

If so, and if the Justice Department can do it, how long before other groups figure out how to do it?

 

Again, how secure are Bitcoin wallets?

Not very secure at least the digital ones.. even worse if you forget your passcode or secret key like what happen to me lol.. 

Lost around $400 so worth of bitcoin 

 

 

[sassbs]

The fact that Elon musk has stated that doge coin is a better project than btc/eth, makes me think humankind is a bunch of dummy’s willing to believe the word of a man who knows nothing of crypto other than to make his pockets more deep.

 

doge has no project, no road map, nothing!!!!!!!!   And I hate him for making the market crash like this. 
why do people believe celebrity’s????   It’s like if someone told me sprite was great, would I go out and buy it and drink only sprite????  Hell no.   

[themcdeal]

I cant fathom that anyone is actually making purchase decisions based on Elon's tweets lol

 

 

[Tortorella's Rant]

23 hours ago, sassbs said:

The fact that Elon musk has stated that doge coin is a better project than btc/eth, makes me think humankind is a bunch of dummy’s willing to believe the word of a man who knows nothing of crypto other than to make his pockets more deep.

 

doge has no project, no road map, nothing!!!!!!!!   And I hate him for making the market crash like this. 
why do people believe celebrity’s????   It’s like if someone told me sprite was great, would I go out and buy it and drink only sprite????  Hell no.   

I'm done with crypto. If one man can have such sway over the market then it's a &^@#ing joke. 

[sassbs]

51 minutes ago, Tortorella's Rant said:

I'm done with crypto. If one man can have such sway over the market then it's a &^@#ing joke. 

Technically, they do the same with stocks as well.   Gme and amc perfect examples of that.

plus the blatant lock down on every exchange!   Banks included.  At one point I couldn’t sell amc!  I wasn’t allowed too.  
 

technically, even though I can’t stand his tweets, who’s fault is it?   People flock to his every word and listen.  I wish people will just do what they feel is right by doing their own research!