Bitcoins/Litecoins/Virtual Currencies

Teletubbies going in. Strong sell or strong buy signal, you decide.

Lambourne said:

Teletubbies going in. Strong sell or strong buy signal, you decide.

Click to expand...

I saw this guys take earlier and thought it was a pretty good thread. Chipotle is running a Bitcoin contest too.


TL: DR - Bitcoin is inevitable like the internet was inevitable. Every company will need a "Bitcoin strategy" or they will fail.

...and filecoin is filecoin is at 190$ and showing no signs of slowing down.

Anyone understand the future for this coin? I'm tempted to buy a few(5-10 nothing crazy) more coins in the hope it takes the route of bitcoin.

Tmac said:

Why would it take the route of Bitcoin? What’s the technically analysis of this coin?

Bitcoin is gold. Ether is silver. What is Filecoin?

Click to expand...

I agree with the BTC is gold idea, but I'm not sure Eth is silver. I haven't really seen a good comparison for Eth yet imo. Someone in one of the threads that got posted here said investing in Eth now is like if you could have invested in the "Internet" in 1995. Definitely seems like Eth is going to emerge as the defacto DeFi "infrastructure" for lack of a better word.

You ever sink that 5k into Eth?

Also, anyone have VET? Seems like one of those very unsexy but smart investments.

Tmac said:

Yup. I got tired of watching the ticker so bought 2.99 ETH for $5.5k. I wanted a whole 3, so I’ll just buy another dip at some point.

What’s VET?

Click to expand...

Vechain- it's a coin that is geared towards logistics and supply chains. Supposedly makes shipping/transfers/deliveries much easier and accurate for companies. Walmart China just started using it but it's still dirt cheap (around .08). I could see it getting very very big, especially if other companies started picking it up.

Arden said:

I agree with the BTC is gold idea, but I'm not sure Eth is silver. I haven't really seen a good comparison for Eth yet imo. Someone in one of the threads that got posted here said investing in Eth now is like if you could have invested in the "Internet" in 1995. Definitely seems like Eth is going to emerge as the defacto DeFi "infrastructure" for lack of a better word.

You ever sink that 5k into Eth?

Also, anyone have VET? Seems like one of those very unsexy but smart investments.

Click to expand...

Bitcoin is gold. Ethereum is a city.

All roads lead to Rome.

These ETH analogies suck.

Ethereum is a decentralized computer. It is a blockchain that supports a programming language (Solidity) that allows for the creation of contracts. These contracts allow for a lot of fancy interactions but they are all based on the ledger, which is to say they all interact with proof of digital ownership.

Trying to compare Ethereum to anything that currently exists isn't very helpful honestly. If you insist on comparing ETH to a commodity the most accurate description I can think of would be oil as the token ETH is used to pay for the transaction that you're requesting. ETH the token is functionally like an arcade token that lets you interact in its ecosystem.

It is the base layer for most of the altcoins on the market. It allows for the functionality that many of these altcoins perform. In order to write any interactions you make with these other coins, you need to spend ETH. Truth is most of us are just knuckleheads putting money into something we barely understand. If you want to know what ETH is and can do you should probably just go learn Solidity and you'll have a much better grasp on what it is capable of.

Documentation:

Pretty simple tutorial I took to learn the basics, has you creating NFTs too:

Well, I don't insist on an analogy lol, but having one is nice for helping people understand Eth's value. I like the oil analogy because it captures Eth as a commodity, a store of value, and a utility item with a very practical purpose all at once. None of the other analogies really do that. It's not a perfect analogy, but it's close enough.

Investing in Eth now is like investing in oil in 1880. It's useful and interesting now, but in the near future it's going to be indispensable.

Arden said:

I agree with the BTC is gold idea, but I'm not sure Eth is silver. I haven't really seen a good comparison for Eth yet imo. Someone in one of the threads that got posted here said investing in Eth now is like if you could have invested in the "Internet" in 1995. Definitely seems like Eth is going to emerge as the defacto DeFi "infrastructure" for lack of a better word.

You ever sink that 5k into Eth?

Also, anyone have VET? Seems like one of those very unsexy but smart investments.

Click to expand...

I had a thunder node back when it changed over. Held out for a year and got impatient now I’m kicking myself.

Really I like to think of Ethereum as a mischievous badger, who brings me nuts to store away for retirement.

swayze22 said:

But doesn't everyone hate the shitty gas fees and aren't some coins actively replacing and superseding everything ETH currently does? Isn't the altcoin shift away from ETH?

Click to expand...

Look up Ethereum 2.0

Some combination of zero-knowledge proofs, Eth 2.0, and EIP-1559 are expected to resolve Ethereum scaling issues. None of these exist in a fully working state right now though. ETH's future depends on these technologies working as expected.

Flobee said:

Some combination of zero-knowledge proofs, Eth 2.0, and EIP-1559 are expected to resolve Ethereum scaling issues. None of these exist in a fully working state right now though. ETH's future depends on these technologies working as expected.

Click to expand...

The risk of Eth 2.0 not working (or not working fast enough) is why some people are hedging with ADA and other coins that are already doing what Eth wants to do. But imo Eth 2.0 would have to fail pretty badly for any other those alt coins to have even a chance of catching up with Eth.

Flobee said:

Some combination of zero-knowledge proofs, Eth 2.0, and EIP-1559 are expected to resolve Ethereum scaling issues. None of these exist in a fully working state right now though. ETH's future depends on these technologies working as expected.

Click to expand...

Decent reddit posts that goes over some of that. Hard to read that and not go scoop up a couple more.

ADA is a ghost chain made by a man that by all appearances is a scammer. I'm not saying you won't make a profit on the thing, but its not going to replace ETH. Polkadot is probably the only other layer 1 chain that I think has hedging potential vs Ethereum. Even that I wouldn't bet a ton on. To be clear, this is based on actual current usage of the blockchains in question.

Honestly the more I learn about Bitcoin's Lightning network, I'm starting to think that the rest of these layer 1 chains are going to be obsolete. Why would you run anything on a chain less secured than the Bitcoin blockchain given the option? Lightning is still pretty early on though, we'll see. Once Lightning gets up and running you'll start seeing layer 3 applications on Bitcoin and I think that's where things start getting wild.

This podcast really opened my eyes on the potential behind LN.


Honestly though I'm just spittin' in the wind. We don't know WTF is actually going on in this space, its the wild west.