Bitcoins/Litecoins/Virtual Currencies

Jackie Treehorn

Jackie Treehorn

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MATIC going crazy. People are finally figuring it out. ETH’s high gas fees are probably helping it quite a bit. MATIC needs ETH and ETH needs MATIC (to be specific, L2 solutions.)

If it goes up $3 I’m going to be making around $50 a day just on interest which is insane. Could easily be $10 in a year or two I think and do the math on that. Being relatively new to this I’ve come to see how powerful staking or lending is. Of course the more people who do that the rewards will be lower. Still point being, as has been said here many times, if you’re fortunate enough to be in crypto as early as all of us are we’re all going to be making a lot of money relatively quickly.
 
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Caliane

Caliane

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I'd like to hear some real success stories from the long term people. many are quiet or took off I guess.

for me, was very poor in the first place, so... 269% increase on $1 is still only 3.69... obvs not literal. but. yeah, I can't exactly retire.. adding another zero to Eth, would not do it either.

James was talking about mining Eth for pennies. so, must be doing REAL good?
 
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Intrinsic

Intrinsic

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Jackie Treehorn said:
MATIC going crazy. People are finally figuring it out. ETH’s high gas fees are probably helping it quite a bit. MATIC needs ETH and ETH needs MATIC (to be specific, L2 solutions.)

If it goes up $3 I’m going to be making around $50 a day just on interest which is insane. Could easily be $10 in a year or two I think and do the math on that. Being relatively new to this I’ve come to see how powerful staking or lending is. Of course the more people who do that the rewards will be lower. Still point being, as has been said here many times, if you’re fortunate enough to be in crypto as early as all of us are we’re all going to be making a lot of money relatively quickly.
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Was looking in to that yesterday on Binance and remembered a few pages back discussion on it. Need to revisit those posts now that I’m more familiar with the interfaces and terms just to see where to make a test play to learn.

The seven day cool down period in Coinbase Pro to move my ETH out is really bugging me. When I go to move $20-$30k in it isn’t going to kill me to have it sit for seven days, but still. Will feel like missing out on stuff.
 
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Mist

Mist

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My ETHE Greyscale shares are stonksing all the way to the moon.
 
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Gravel

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Caliane said:
I'm a bit surprised BTC is so stagnate. I suppose when I was predicting Eth's growth with its various rollouts, I hadn't thought too hard on its BTC pairing. But, seeing it now, I kindof would think BTC would be pulled along to some degree. But, I dunno. again, BTC is almost synonymous with crypto. which again, fueled its dominance. Eth invest comes from second investments, after research. I suppose if you are investing in Eth.. you are doing just eth, and have already invested in BTC..
4300 eth.

4450 Eth should hit me about 200% total ROI.
My specific Eth invests are at 269% increase in value currently.
BTC is at 57% increase.
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My guess is because the price is so high. Crypto speculation comes from people hoping to hit a mega jackpot 10,000% return. With BTC at 50k+ that's basically impossible anymore.

Why waste your time with BTC whose returns are going to be 10% when you can strike it rich with some retarded meme coin that's at $0.003 right now and will make you a millionaire overnight because some rich guy tweets about it?
 
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swayze22

swayze22

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James said:
Ahh, I see you're on that memecoin craze with the ADA investment.
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heh - hardly a memecoin, definitely an altcoin. its been a methodical development process, it didn't just pop up with a picture of a dog. But we will see, obviously I don't know what the future holds (with any of these)

i've averaged up my cost since about $.30cents
 
Mist

Mist

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Gravel said:
My guess is because the price is so high. Crypto speculation comes from people hoping to hit a mega jackpot 10,000% return. With BTC at 50k+ that's basically impossible anymore.

Why waste your time with BTC whose returns are going to be 10% when you can strike it rich with some retarded meme coin that's at $0.003 right now and will make you a millionaire overnight because some rich guy tweets about it?
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1620833021777.png
 
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James

James

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swayze22 said:
heh - hardly a memecoin, definitely an altcoin. its been a methodical development process, it didn't just pop up with a picture of a dog. But we will see, obviously I don't know what the future holds (with any of these)

i've averaged up my cost since about $.30cents
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I dunno, a smart contract platform with no smart contracts for six years certainly sounds like a meme! Charles is a self important fuckwad who thinks Dogecoin is going to ruin cryptocurrency, but what it comes down to for me is that ADA is a direct competitor for ETH, and ETH clearly has the better development team.
 
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swayze22

swayze22

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James said:
I dunno, a smart contract platform with no smart contracts for six years certainly sounds like a meme! Charles is a self important fuckwad who thinks Dogecoin is going to ruin cryptocurrency, but what it comes down to for me is that ADA is a direct competitor for ETH, and ETH clearly has the better development team.
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Valid, yeah the guy gets some bad pub. smart contracts targeted july/august. Cardano roadmap

I do think shit like DOGE is bad for crypto in general though, probably not RUIN it. It has no stated purpose, that makes people question everything in a different way than simply not understanding the technology behind "legitimate" coins.

Thoughts?
 
Arden

Arden

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James said:
I dunno, a smart contract platform with no smart contracts for six years certainly sounds like a meme! Charles is a self important fuckwad who thinks Dogecoin is going to ruin cryptocurrency, but what it comes down to for me is that ADA is a direct competitor for ETH, and ETH clearly has the better development team.
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Yeah, I've stayed away from ADA for these reasons, but I've recently read some things that make me think ETH and ADA can easily co-exist and both can prosper. My biggest position by far is still ETH, but I sunk some funds into ADA recently mainly because as a coin itself it is technically very sound and it's cheap- so why not?
 
James

James

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swayze22 said:
Thoughts?
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I personally don't think programmers are going to jump at the chance to use Haskell to code smart contracts, if in fact they ever do get deployed on ADA mainnet, and Dogecoin is as legitimate as Bitcoin. If anything, Dogecoin has proven the security and decentralization afforded by PoW consensus is worth actual, real money, so poo-pooing it because "it's a meme" makes Charles seem out of touch and blinded by his own bias. You have to keep in mind that Charles quit Ethereum because he thought Ethereum development should be for profit, so it's hard to take his dire warnings about Dogecoin in any other way than that he's jealous of its success while his own blockchain stagnates.
 
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swayze22

swayze22

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James said:
I personally don't think programmers are going to jump at the chance to use Haskell to code smart contracts, if in fact they ever do get deployed on ADA mainnet, and Dogecoin is as legitimate as Bitcoin. If anything, Dogecoin has proven the security and decentralization afforded by PoW consensus is worth actual, real money, so poo-pooing it because "it's a meme" makes Charles seem out of touch and blinded by his own bias. You have to keep in mind that Charles quit Ethereum because he thought Ethereum development should be for profit, so it's hard to take his dire warnings about Dogecoin in any other way than that he's jealous of its success while his own blockchain stagnates.
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So you don't like the guy in charge is what i'm taking away and therefore you don't like ADA. (not that your first half sentence on ADA isn't valid, which obviously can change the trajecotry significantly). I think they will definitely be able to co-exist atleast. Obviously i'm not trying to convince you to buy it, just discussing.

I think the opinion of his on DOGE was basically all these people are buying it thinking its the next BTC because it got pumped by Elon. one wallet owns 28%+ of all DOGE.

You'd be cool with one wallet owning 28% of ETH or BTC?
 
James

James

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That wallet is Robinhood cold storage, and nothing I've written about ADA is invalid. Dogecoin could very well be the next Bitcoin, and Bitcoin may very well end up dying in the next bullrun -- their prices are built totally upon speculation. Uncensorable/unstoppable transactions have had 12+ years to change the layout of financial institutions, but it has not.
 
swayze22

swayze22

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James said:
That wallet is Robinhood cold storage, and nothing I've written about ADA is invalid. Dogecoin could very well be the next Bitcoin, and Bitcoin may very well end up dying in the next bullrun -- their prices are built totally upon speculation. Uncensorable/unstoppable transactions have had 12+ years to change the layout of financial institutions, but it has not.
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I said it's not invalid!

That makes more sense in regards to the one large wallet since RobinHood truly blows and you don't actually own anything, so thanks. I still don't think that is appropriate for any sort of "decentralized" anything. That just shows that it's all timmys buying DOGE which I wouldn't say helps any legitimate argument for it in contrast to your comment on BTC prices being built upon total speculation. DOGE is built on "to the moon" and memes.

are you just kind of saying its not really different than BTC and its popular so why couldn't it overtake it? or is it the PoW consensus mechanism? do you think the demand will increase at a higher rate for DOGE forever which it would need to do?

Otherwise I don't quite follow the BTC DOGE comparisons.
 
James

James

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Dogecoin was forked from Luckycoin, which was a fork from Litecoin that had variable block rewards. Litecoin itself was forked from Bitcoin, it had reduced block times and used Scrypt for its hashing algorithm vs BTC's SHA-256 -- this was to make it ASIC resistant. Shortly after Dogecoin's release, they removed the variable block rewards so it's just a fork from Litecoin now, which means the use case and technical underpinning of Dogecoin and Bitcoin are nearly identical. Though BTC maximalists have promised a decentralized financial future, real world use cases for the coin have narrowed rather than expanded, now we're being told that the distributed ledger with proof of work consensus model is a store of value more than a peer to peer cash system, i.e. don't spend your BTC, it will become more valuable over time.

However, there's no technical reason that BTC will become more valuable over time while Dogecoin will not. It's one purely of sentiment and tokenomics, with traditional cryptocurrency sentiment heavily favoring Bitcoin's tokenomics of a capped supply with an ever reducing inflation rate. Retail investors may not view that as a particularly compelling narrative, or they even might flat out reject it all together. If retail investors decide that Dogecoin's tokenomics are a better fit for a distributed ledger with proof of work consensus, then ultimately Dogecoin will become the better store of value as hashrate migrates from BTC to secure Dogecoin/Litecoin.

Further, PoW consensus algorithms mean that securing multiple PoW blockchains is inefficient, so IMO it's unlikely on a long enough timescale that more than one PoW chain survives.
 
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