Bitcoins/Litecoins/Virtual Currencies

Flobee

Flobee

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One of the better put together videos I've seen going over Ethereum. What it is, how it works, and why it matters.


I've been pretty happy with most of the Real Vision content recently. They released their Real Vision Crypto for free for a bunch more videos like this if that's your jam.
www.realvision.com

Real Vision Crypto | Real Vision

Real Vision Crypto brings you expert analysis, clear, in-depth coverage, and thriving community you’ve come to expect from us. Watch Now.
www.realvision.com www.realvision.com
 
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LachiusTZ

LachiusTZ

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If twice as much is bought as mined, why would the price drop?

And we are likely going to see the ramp of mining keep prices down for a bit.

But yeah, getting pretty bullish on this personally.

Just the returns on stock is so great I haven't moved more over.
 
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Ravishing

Ravishing

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LachiusTZ said:
If twice as much is bought as mined, why would the price drop?

And we are likely going to see the ramp of mining keep prices down for a bit.

But yeah, getting pretty bullish on this personally.

Just the returns on stock is so great I haven't moved more over.
Click to expand...

If you're responding to my post... the 140k bitcoin is going to enter the market, which is nearly 3x what has been purchased in November, and is 5x what would typically be mined in a month.
 
LachiusTZ

LachiusTZ

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Ravishing said:
55K bitcoin were bought in November vs 28K mined
Click to expand...

Was referencing this post.

The only thing keeping hte price stable right now is the 250 million dollars of nvidia graphics cards they sold to miners.

Or however much it was they sold direct to miners.

That is a massive glut of capacity, and prices still arent really falling.
 
Ravishing

Ravishing

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LachiusTZ said:
Was referencing this post.

The only thing keeping hte price stable right now is the 250 million dollars of nvidia graphics cards they sold to miners.

Or however much it was they sold direct to miners.

That is a massive glut of capacity, and prices still arent really falling.
Click to expand...
Yes that's from the article and it's saying why November was a pretty good month for bitcoin. More demand than supply. Same post/ article claims 140k coins that were locked up from the Mt Gox debacle are about to be released into the system.
 
Flobee

Flobee

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Yearly returns by asset class.

1607955383822.png


See the pattern?
 
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Ravishing

Ravishing

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I don't really look at BTC till after 2017. Which is post-institutionalization (imo)
And there's not much of a pattern with BTC yet since then.
YTD 2020 is also an outlier since there was a Halving this year. Don't expect 2021 to be the same.
 
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Flobee

Flobee

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Ravishing said:
I don't really look at BTC till after 2017. Which is post-institutionalization (imo)
And there's not much of a pattern with BTC yet since then.
YTD 2020 is also an outlier since there was a Halving this year. Don't expect 2021 to be the same.
Click to expand...
Past performance does not guarantee future returns. Totally agree. However this is a system based on math. Its not completely unreasonable to have some expectation of a pattern existing. We'll see, but I'm enjoying watching what appears to be a supporting narrative for another bull run appear right on cue with the prior pattern repeating.

EDIT: Even if I'm wrong and such a pattern doesn't exist. It is still an asset that has averaged 200% returns every year since 2011. That's not a bad bet moving forward that you can capture at least some % of that. Unless you think that the momentum is going to significantly change soon.
 
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Ravishing

Ravishing

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Flobee said:
Past performance does not guarantee future returns. Totally agree. However this is a system based on math. Its not completely unreasonable to have some expectation of a pattern existing. We'll see, but I'm enjoying watching what appears to be a supporting narrative for another bull run appear right on cue with the prior pattern repeating.

EDIT: Even if I'm wrong and such a pattern doesn't exist. It is still an asset that has averaged 200% returns every year since 2011. That's not a bad bet moving forward that you can capture at least some % of that. Unless you think that the momentum is going to significantly change soon.
Click to expand...

I assume you think 2021 will be a 500-1000% increase.
I have a really hard time believing it, but I'm getting back in sometime late Dec/Early Jan, so lets hope you're right.
I still believe in the Holiday dips.
 
Flobee

Flobee

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Ravishing said:
I assume you think 2021 will be a 500-1000% increase.
I have a really hard time believing it, but I'm getting back in sometime late Dec/Early Jan, so lets hope you're right.
I still believe in the Holiday dips.
Click to expand...
I certainly think those returns are possible. I'm more focused on where I think it will be in 10 years. I'm quite bullish so when I take that perspective I see current prices as incredibly undervalued. In my mind BTC is not an asset to think of in trading terms. For me its the hardest money we currently have and is what I would consider a retirement plan B if events play out in the way I think they may.

In other words it seems reasonable to me to invest in Bitcoin as a longshot retirement investment rather than a short term speculation device. I would even be cautious of trying to time the peak to sell in the next bull cycle. Long term hold.
 
Ravishing

Ravishing

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it's over 20K today.
I ended up getting back in since volume is up & it crashed through 20K but I have a stop order in place in case we see it crash back.
However now that it's through 20K, it could see some significant gain quickly
 
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Flobee

Flobee

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We're in price discovery now. Price could do just about anything in the short term. Med/long term I don't think we see 20k again.
 
Ravishing

Ravishing

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Today can easily be a 10-15% day, hitting ~22K or so.
Rarely have BTC boom days turned negative so sharply, so I'm not expecting to see < 20K today.
However I still think we can easily see <20K short term.

Mid-Long > 20K seems right to me though.
 
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