Brad
Trakanon Raider
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If you have seed in something like CryptoSteel, it should be your only seed storage anywhere in the world, no copies of it anywhere else. ( Gotta keep it secure and hidden that is
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Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
- Start date
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maskedmelon
Orator of Superfluous Nothings
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Anyone looking at the INX IPO? It doesn’t look like it has had much interest based on the contract. I don’t really like the idea of it succeeding because it seems antithetical to crypto ethos especially given the birth of defi. At the same time though, I could see it having some sort of gross edge with governmental bodies or the average person, but I just have a hard time seeing it succeed. The existing exchanges are already pretty accessible so I am not seeing what sets this one apart. Thoughts?
Flobee
Vyemm Raider
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It's probably a good time to own crypto. We may see a big pullback soon, but fundamentals are very very strong right now. Every time the price goes down it is being aggressively bought. 99% of BTC addresses are in profit (at $17k) though so be cautious. I don't expect many folks to sell until $20k but wouldn't be shocked with a big pullback on or around that number.
www.coindesk.com
Also worth noting that $ETH is probably set to pop in the short term as its lagged behind BTC gains.
Med/Long term I think we're just getting started on this run. World is nuts though, we'll see.
98% of Bitcoin's 'Unspent Outputs' Are Worth More Than When Made
The percentage of bitcoin unspent transaction outputs (UTXOs) in profit recently topped 98%, the highest level since December 2017.
Also worth noting that $ETH is probably set to pop in the short term as its lagged behind BTC gains.
Med/Long term I think we're just getting started on this run. World is nuts though, we'll see.
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Ravishing
Uninspiring Title
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Im really considering selling it all prior to the $20K. I feel like we'll be hovering in this range for quite a while, if it does hit 20K it'll definitely pull back, probably see 14-15K again before it gets much higher than 20K. So selling anytime between now & 20K seems safe.
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Flobee
Vyemm Raider
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I'll chime in that I think that this is perhaps a smart short term play but big potential to miss upside if you're wrong about the pullback. I expect the same but BTC is crazy. Personally I would at least keep some % if I sold just in case I'm wrong so I can ride the wave.
I'm a moonboy at heart though so I'm biased. I'm generally afraid to dance in and out of this market because the upside potential is so much bigger than the downside and happens so quickly. I'm more likely to lose on a timing trade than win. My 2c.
EDIT: To clarify I want to sell on the green arrow (if I sell) not the red. My assumption is that we're moving into red arrow territory.
Same spot zoomed in.
I'm not claiming this is the same as that set up, just that this asset is nuts and what looks like a top isn't always a top.
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Ravishing
Uninspiring Title
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Don't be afraid of "missing out". There's always a dip.
I'm going to try waiting for at least $18.5.
This spike is making me nervous though. It can suddenly pull back any second really.
Long term I do expect 20K+ but short term I see 14-17K for a while.
When BTC halved the price was below 10K, we did have a COVID dip too, so hard to say where it could have been.
But I'm a firm believer in how mining/electricity demands control price.
We should see 2x the previous stable pricing before the halvening, so anywhere between 12K-18K seems fair right now.
Btw, next Halving is slated to take place in 2024, then we'll see $30-$40K bitcoin
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Flobee
Vyemm Raider
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Crypto is so ridiculous because a 2x+ in 4 years should be a bold bullish prediction but I see that and assume you're undershooting by at least half in regards to a top. Stable price though I bet you're just about spot on. I could see ~20-30k being the floor next cycle.
There is an outside chance that "it is different this time" and the institutional buy pressure pushes us a lot higher than expected a lot earlier. My crystal ball is a hazy as they next guy's though.
We live in crazy financial times no doubt about that
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Flobee
Vyemm Raider
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Central Bank Digital Currency is going to be the path that some countries take. It sounds (according to current US regulators) that the US may opt to utilize the current stablecoin system in order to accomplish the "state crypto" at least in the short term (this seems good in regards to privacy/freedom). Who knows what changes if Biden actually takes office and replaces all these people. Probably a move towards a global crypto run by the IMF. They've been clear that there will be a new monetary system and they'd like to be in charge.
Designing Central Bank Digital Currencies
We study the optimal design of a central bank digital currency (CBDC) in an environment where agents sort into cash, CBDC and bank deposits according to their preferences over anonymity and security; and where network effects make the convenience of payment instruments dependent on the number of...
www.imf.org
Cross-Border Payments—A New Beginning
www.imf.org
Ravishing
Uninspiring Title
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Some might try, I doubt it will work.
I can't really comprehend how they would do it, without it just being Digital Fiat.
What I see is BTC, or something like it, eventually becoming a reserve currency.
And then overtime it surpasses USD as the primary reserve currency.
Biggest issue I see with a Govt "crypto" is how does the "crypto" part work?
I'm probably just not smart enough to figure out how it would work though
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Break
Silver Baronet of the Realm
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I've sold 2/3 of my meager holdings so far starting since about 15.5k. What is causing this run-up anyway? I virtually never make the right call at the right time though so I'm guessing it was a mistake but I'm waiting for a big crash by Feb personally.
Ravishing
Uninspiring Title
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Halving + Markets being up due to Vaccine News
What Is Bitcoin Halving? Definition, How It Works, Why It Matters
Bitcoin halving explained. Find out about Bitcoin's halving process works and what it means for Bitcoin's price and its users.
KEY TAKEAWAYS
- Bitcoin halved on May 11, 2020, around 3 pm est.
- A Bitcoin halving event is when the reward for mining Bitcoin transactions is cut in half.
- This event also cuts in half Bitcoin's inflation rate and the rate at which new Bitcoins enter circulation.
- Both previous halvings have correlated with intense boom and bust cycles that have ended with higher prices than prior to the event.