Bitcoins/Litecoins/Virtual Currencies

I think I'll sell once it hits 20k. An 80k xmas bonus has a nice ring too it

I'm up like, 67.5% on my baby portfolio of shitcoins (40% BTC, 20% LTC, 20% XRP, 20% ETH) since late August. Think I'll cash everything out next week. Only wish I had thrown more stupid money at it. Been funny to watch BTC rip and then the other shitcoins start to rally and catch up.

Tarrant said:

I hope they crash back down to 5k again soon so we can do it all over again.

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That's happening

Tarrant said:

Yeah I wasn’t pay attention and it got down to 18k before I sold.

now I’ll hold that money and see what happens. I certainly hope you’re right.

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I'm fairly confident that this is a BTFD correction. I don't see BTC hitting less than 10k ever again. I'd be shocked if we see lower than 20k after about Mar-Apr 2021. I expect this dip to be bought back up within 2-3 days.

Lets see how my crystal ball holds up.

EDIT:
Supply and demand

Coinbase down, lmao

Poster said:

Coinbase down, lmao

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They crash every single time there is a big price move. Weak

I wouldn't be shocked if ATH gets cracked today. Getting close

EDIT: jk, ATH already hit

This bill if passed would make Tether illegal in the US. Tether is largely used in Asia but banning it in the US could have significant impact on Bitcoin price. This action isn't new. US regulators will crack down on unregulated sectors like this. Exchanges that won't play ball and coins or protocols that won't follow the rules are going to get snuffed out on the way to a Bitcoin ETF.


Note that Tether printed ~$15B in USDT this year and no one knows if there is any real money backing it.

EDIT: Paypal alone is buying more Bitcoin daily than are being produced (900 BTC per day). Price could pump even if Tether gets banned.

Visa is utilizing the USDC stablecoin running on Ethereum. USDC is controlled by Circle who also run Coinbase. Ethereum's future looks bright for a number of reasons but the legal and corporate infrastructure being built on/around it may be its biggest strength right now.

While Visa itself won’t custody the digital currency, effective immediately, the partnership will see Circle working with Visa to help select Visa credit card issuers start integrating the USDC software into their platforms and send and receive USDC payments ... businesses will eventually be able to send international USDC payments to any business supported by Visa, and after those funds are converted to the national currency, spend them anywhere that accepts Visa.

“We continue to think of Visa as a network of networks,” says Sheffield, a five-year veteran of Visa, who took over as head of crypto last June. “Blockchain networks and stablecoins, like USDC, are just additional networks.

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EDIT: Regulators are cozy with Circle, USDC, and 'authorized' stablecoins running on Ethereum

I think you’re going to see a lot of good news for crypto by the end of the Trump term. Some is going to have to do with banks connecting to blockchains, some of it is going be more clarity around the nature of these assets. So, believe me, there’s going to be very positive messages coming up

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ETF Is inevitable

I'm not willing to go so far as shill for Polkadot, but I do think it is currently the only hedge against Ethereum. Specifically what I mean is that if you understand what Ethereum is trying to do but aren't fully confident they can pull it off then it may be worth hedging with small positions in its main competitors.

As of now I would say there are only two legitimate chains that are in a position to take some of the ETH marketshare. Cardano (ADA) and Polkadot (DOT). Personally I think the guy running Cardano is goon so I'm betting against him. As such DOT is the only viable alternative right now in my mind.

Below is an interesting interview with Gavin Wood. Co-founder, previous Ethereum CTO, and creator of the ETH programming language Solidity,

Gavin moved on to create Polkadot. He goes into some of the interesting stuff DOT can do and explains what they're trying to accomplish. IMO DOT hasn't quite found a viable meme to justify its existence yet, but I do know of a number of very significant projects that are currently building on Polkadot so I do see a bright future for them.


Worth noting that if you are interested in DOT they're currently providing ~12% returns for staking your coins. I know you can do this through Kraken, probably elsewhere too, or stake yourself if you have the technical skills to figure that out. 12% on an presumably appreciating asset is pretty nice.

EDIT: DOT isn't looking to replace ETH. It is designed to work cooperatively with it. I don't think any project trying to 'replace' or 'kill' ETH will succeed.