Crypto lounge thread

BURNΞR

Pelican
For investment purposes, BTC is a better bet than Monero. But from a privacy standpoint, Monero will still win, because it is way more decentralized than Lightning Network. I have a feeling that Monero will still be widely used, irrespective of how much BTC takes off as a viable payment option.

That's the problem. People just hold BTC unless they need XMR for privacy reasons, that's the only time they convert their BTC to XMR and only for the small amount they need to buy drugs or whatever purchase. As far as investments defi coins are killing it because of rewards and compound interest. Let me use a newly released airdropped defi coin Songbird ($SGB) as an example:

You get 100,000 SGB airdropped. You immediately stake it for 3% interest per week. If this interest rate can hold you've doubled your stack in 24 weeks. After 52 weeks your stack has 4.65x'ed and if price also appreciated then your gains have gone up in the double digits. The drawback is that 3% interest will go down as time goes by but if it can average around 2% for even 6 months your stack would up to 170,000 SGB and add price appreciation to that and the gains become ridiculous. If interest averages down to 1% you've still increased your stack by over 30% in a short time frame.

Meanwhile XMR has stayed under $500 or maybe Bitcoin went up and it also appreciated in price to $1200. Defi coin would still win out because of rewards in addition to price appreciation. XMR 5x'ed while SGB will net you 8-10x returns in the same period. The only real downside of defi is that these coins have no utility. People are just buying them for profit but once the market goes bear these will all go to zero and when that happens it won't matter how much rewards you've accumulated. With XMR there's a level of comfort knowing it will continue to be a relevant top 50 coin with both utility and similar scarcity to BTC.
 

cosine

Robin
If BTC continues its trend and gains adoption, and you have 1 whole coin, that should be plenty for a middle-class person. There's something like 46 million millionaires globally, but only 21 million BTC total.

Right now of course we only have 18.8 million or so BTC mined, then with various religious HODLers, it seems like the supply is due for a squeeze and a price bump.
 

BURNΞR

Pelican
The real squeeze is going to come when people realize that exchanges are just fractional reserve banks for Bitcoin. The bank run will be epic.

How can they do that? Unlike XMR the supply of BTC is fully transparent. If enough people suspect the exchange and withdraw they will have problems.
 
The Bitcoin network is fully transparent. Exchanges are not.



Big problems. And so will the people that thought they owned Bitcoin but can't move it to self custody.

Heard this was a bigger potential issue with Tether (probably read it on here actually) that they're issuing a lot more TUSD than they have actual dollars to back it up
 

cosine

Robin
Heard this was a bigger potential issue with Tether (probably read it on here actually) that they're issuing a lot more TUSD than they have actual dollars to back it up
The rumor I heard is that Tether began with actual cash dollars, then bonds, then other "cash equivalents" which have become more and more risky. The founders can use it as a leveraging tool to buy BTC, ETH, etc.

I'm sure that house of cards will crash and burn. That'll cause a dip in BTC that I intend to buy.
 

Mikeyd03

Woodpecker
As confident as I've ever been in privacy coins.

The point most people miss: Taking profits = converting to USD for MOST.

What will USD value you be in 10 years time?

What kind of world will we live in 10 years down the road (think surveillance, think cancel culture, think CBDCs, think INFLATION)

So then it comes down to owning HARD ASSETS....private, fungible, divisible, uncensorable, etc......

Michael Burry is (big short guy) has been loading up on WATER. Billy Gates is loading up on LAND.

Will you be able to trade dollars for these hard assets in the coming decade.....hard to say.....but at the current rate....i doubt it.

LONG LIVE MONERO.
 

BURNΞR

Pelican
As confident as I've ever been in privacy coins.

The point most people miss: Taking profits = converting to USD for MOST.

What will USD value you be in 10 years time?

What kind of world will we live in 10 years down the road (think surveillance, think cancel culture, think CBDCs, think INFLATION)

So then it comes down to owning HARD ASSETS....private, fungible, divisible, uncensorable, etc......

Michael Burry is (big short guy) has been loading up on WATER. Billy Gates is loading up on LAND.

Will you be able to trade dollars for these hard assets in the coming decade.....hard to say.....but at the current rate....i doubt it.

LONG LIVE MONERO.


Crypto will be better off than USD in 10 years but after this bull run ends you'll wish you grabbed the USD before everything drops 70-95%
 

bucky

Ostrich
Crypto will be better off than USD in 10 years but after this bull run ends you'll wish you grabbed the USD before everything drops 70-95%
Any predictions when this run ends? It's right about where I'm normally kicking myself for not selling in a few weeks right now.
 

BURNΞR

Pelican
Any predictions when this run ends? It's right about where I'm normally kicking myself for not selling in a few weeks right now.

Nobody can say, it's up to your own discretion.
Consensus is after BTC goes past 100k but anything can happen. I personally believe the US government is intervening to throw crypto into a bear market.

A viable strategy here is to take some profits in USD/DAI off the table every month no matter what. Try to get 6-12 months of living expenses and hold the rest. My plan is to cash out into USD as btc goes past 100k. If this backfires at least you took some profits along the way to cushion yourself.

The reason why I pick USD is because it is the strongest currency even if it is devaluing at 20%/year. You can buy property to get rid of USD and even if you get priced out of BTC you can still buy stocks and newer altcoins. If you find the next Solana and put even 10k into it early the hyper growth offsets inflation. Even if USD is melting at 20%/yr you have enough time to think of your next asset to invest in.
 
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Mikeyd03

Woodpecker
Nobody can say, it's up to your own discretion.
Consensus is after BTC goes past 100k but anything can happen. I personally believe the US government is intervening to throw crypto into a bear market.

A viable strategy here is to take some profits in USD/DAI off the table every month no matter what. Try to get 6-12 months of living expenses and hold the rest. My plan is to cash out into USD as btc goes past 100k. If this backfires at least you took some profits along the way to cushion yourself.

The reason why I pick USD is because it is the strongest currency even if it is devaluing at 20%/year. You can buy property to get rid of USD and even if you get priced out of BTC you can still buy stocks and newer altcoins. If you find the next Solana and put even 10k into it early the hyper growth offsets inflation. Even if USD is melting at 20%/yr you have enough time to think of your next asset to invest in

my opinion is BTC is going much higher than 100k. when this cycle ends? my guess is summer 2022.....but just a guess....anyone who says they know is blowing smoke.
 

Coja Petrus Uscan

Crow
Orthodox Inquirer
Gold Member
This is an interesting graph and opinion.


I have been hearing increasing desires from normies to get in, which is a good sign it will continue to go up. All around people seem very bullish for the next big move. All the people who have been getting it right seem to have a ballpark, projected consensus, which is:

- this bull cycle will continue into about March 2022, maybe later
- Bitcoin will hit between about $150,000 and $300,000 (~$6-12T total cap)

It's looking a lot like breakout, now, to me. But not sure on that yet. Feels like it should have another month squeezing around $45K.

This is exactly what I thought would happen in China:


This goes to show that the crypto-space is a lot more unstoppable than restrictionists think. I am leaning more to the opinion that the global banking mafia is much weaker and much more vulnerable to being replaced than people thought.
 

Coja Petrus Uscan

Crow
Orthodox Inquirer
Gold Member
I have an employee who I pay in BTC, owing to their country being under the rule of a globalist stooge who has been taking orders in integrating the economy into the global prison banking system.

Does anyone know a phone based wallet that they can use to hold BTC (and maybe other cryptos), exchange the coins with stable coins or fiat and also send TXs? It needs to be cheap to exchange, i.e. no Uniswap grafted in at $100 a pop. It can be any type of custody.

I have recommended Crypto.com, but maybe there is something better.
 

kurtybro

Woodpecker
I have an employee who I pay in BTC, owing to their country being under the rule of a globalist stooge who has been taking orders in integrating the economy into the global prison banking system.

Does anyone know a phone based wallet that they can use to hold BTC (and maybe other cryptos), exchange the coins with stable coins or fiat and also send TXs? It needs to be cheap to exchange, i.e. no Uniswap grafted in at $100 a pop. It can be any type of custody.

I have recommended Crypto.com, but maybe there is something better.

Perhaps safepal phone wallet? AFAIK you can still use it standalone without the hardware wallet and it has binance DEX built in for coin swaps.
 

cosine

Robin
I am really starting to like GDLC. Seems like the S&P of crypto, albeit it doesn't automatically re-balance.

In the same way that you could have done very well DCA-ing into the S&P over time, it seems like this should work out. Forget the noise, forget trying to determine if ETH, ADA, or SOL will "win" that space, or if "the flippening" will happen and ETH will take over BTC. Instead you just buy the market and stop wasting your life worrying if you made the right pick.
 

cosine

Robin
China outlawing bitcoin/crypto is/was a beautiful thing from my perspective; it means this golden asset will be less controlled by CCP types; it's an opportunity for less-evil people.

Apparently, bitcoin's 9% jump today is from news that Soros has bought some amount of bitcoin. I see it as a duty for free people to gobble up this asset before ownership gets entrenched by evil players.
 
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