Crypto lounge thread

Coja Petrus Uscan

Hummingbird
Gold Member
I bought a good amount of BTC at $40k, at the time I was worried I was too late, glad I got in even this late. I plan on buying some more next time it dips.

I'd actually bought a small amount ages ago to send to someone and left some change(less than a dollar) in the account and forgot it, reopened it a few weeks ago and that change had turned into like $20. That hurt.

I had something similar. In 2016 I got an app called TenX for Bitcoin Debit Cards. I setup two for employees. They were never able to get a card. Mine stopped working after one transaction. The fee to buy a card was $15 of BTC and all three apps had a bit of shrapnel left in them. A few months ago I looked to see if they had new debit cards. They didn't. But between the three accounts there is now about $900 of BTC :blush:. I think the price of a single coin at the time was $600.

@Mikeyd03 - on DeFi. The total cap for DeFi coins is about $20B, up from about $2B 6 months ago. $40B locked and $10M in gas fees per day. I believe in four years you will be able to put a zero and change after all those. I think one of the best things to look out for this year are platforms that can reduce gas fees. That I've seen AnySwap, Serum and possibly Reef.

I thought as the space matures the sort of wild gains people have had from BTC, ETH will not be seen again, but there are plenty of DeFi projects that are and will delivering the same kind of gains.
 
I think the future is probably in Cardano.

I looked into all the projects. It was designed so it never has to fork and can be constantly updated without interruption to the blockchain.

It’s a solid project and tram that never had any weird BS.

They really believe in what they're doing and continue to lay important groundwork and build relationships with governments and organizations around the world.

Most other major coins seem scammy by comparison.
 

Slim Shady

Ostrich
Gold Member
I think the future is probably in Cardano.

I looked into all the projects. It was designed so it never has to fork and can be constantly updated without interruption to the blockchain.

It’s a solid project and tram that never had any weird BS.

They really believe in what they're doing and continue to lay important groundwork and build relationships with governments and organizations around the world.

Most other major coins seem scammy by comparison.
Screw Cardano, Monero is where it's at.

946EAB34-E3E0-41D3-A55D-7D4FD43835B7.jpeg
 

kel

Ostrich
I obtained Monero years ago by exchanging crypto and then storing it in a wallet. This was before the IRS made those kinds of exchanges taxable. I checked my Monero wallet about a month ago and everything is gone. The customer service rep told me he could search for the transactions. I'm too busy to go chase after what is probably a 4 digit sum of money. Just one of the valid downsides to not wanting to deal with crypto.
Sounds like you didn't store it in a wallet (directly), you left it with the exchange.

Your concerns are valid, but bottom line unless you have it in a personal wallet you don't really own anything other than a promise from the exchange.

Can I ask which exchange you used?
 

bucky

Ostrich
Sounds like you didn't store it in a wallet (directly), you left it with the exchange.

Your concerns are valid, but bottom line unless you have it in a personal wallet you don't really own anything other than a promise from the exchange.

Can I ask which exchange you used?
Thanks. I'd been wondering how wallets work. Sounds like something I need to look into.
 
Sounds like you didn't store it in a wallet (directly), you left it with the exchange.

Your concerns are valid, but bottom line unless you have it in a personal wallet you don't really own anything other than a promise from the exchange.

Can I ask which exchange you used?

I'll try to get back to you by the end of next week.
 
Cardano has a solid team and platform. Not sure why you'd link to a well reasoned impact statement and think that's a bad thing. It reenforces that ADA has a solid team behind it. It's not a scam coin. It will be at an ATH soon. By the end of month launch it may be significantly higher than the ATH.

From all the market research I've done on ADA it is far superior to Bitcoin and Ethereum. Most of the DeFi will be built on it. ETH is already clogged and expensive. ADA also has 1,000 TPS making it about half as fast as Visa or Mastercard. All they need to do is double that and it will be able to compete with them.

Cardano will never fork into other coins. It's built a solid relationship with many African countries and nations, too. I honestly don't see any problem with ADA except the fact that the price is so low. It's massively undervalued.

It's ATH was around $1.20. Then it crashed down to $0.4 cents in 2019. If you picked it up then you've seen gains comparable to Bitcoin in the early 2010s. Now it's only $1. Imagine buying Bitcoin for $1. Well you can now get ADA for less than $1.

As for privacy, ADA seems to be capable of the same privacy as other coins. That's not something I've looked into recently. But I did years ago and didn't see much difference between it and other "privacy coins".

ADA seems to be one of the few coins that is capable of functioning as actual money for day to day transactions. Whereas bitcoin seems more like holding gold. While Ethereum is silver. Neither is ideal for transactions.

The evolution of crypto is mirroring the evolution of money. We're still mining it actually... Except Cardano can't be mined. It can only be staked. It uses a smarter and more functional protocol called Proof of Stake.

I'm not trying to pump Cardano. I believe it's massively undervalued. I've been HODLing for years and will never sell until it's at least triple or quadruple digits.
 

Deepdiver

Crow
Gold Member
Interesting BTC Chart action on the half hour chart 3 solid touches of the upper trend line and has just broken above the 9 Green and 20 Blue Bar Moving Averages after testing the 200 Red Bar Moving Average as strong support... Looks like a likely 3rd touch break out above the Upper Wedge trend line.

On the larger 6 Month daily chart below we are topping the Major 5th wave. My institutional stealth advisor has made a killing trading CME BTC futures contracts intraday in Jan and Feb since one contract equals a 5 BTC multiple. They are targeting 49,500 to 50,000 range as the fifth wave's top and will be stacking CME BTC futures shorts for a major ABC .618 correction before a lager 5 wave move up.

BTC 30 Minute Chart:
1613256079850.png

BTC Daily Major 5 Wave Chart:
1613256286051.png
 
The only coin I understand is Monero and it seems undervalued for what it is and the adoption which from my understanding has gone parabolic over the last 4 years. It should be prices in the thousands of dollars right now, not hundreds. Maybe we won't see such prices for another few years.

Cardano has been winning and other than the "cheap" price new retailers like I'm not sure why. I'm finding it very difficult to pinpoint how much more it can grow in marketcap or satoshis. I told myself I was going to sell it around 1800 sats but I think it is going much higher. Ideally I want to sell it over 3500 sats now but not sure what will happen. Bitcoin could easily take off above 51k for no reason. I see ADA going to $2-3 in fiat price this year, maybe higher.
 

Mr Gee

Pigeon
Today seems to be privacy coin day.
Zcash up 23%, Dash up 59% and Monero up 17%.
When privacy coins jump it is usually a sign of holders dumping their mainstream crypto coins, converting them to the privacy coins.
Perhaps the smart ones are getting out now before the exchanges have to stump up money for the massive fiat conversions that they will have to honour.
Anyway great, I dumped all my crypto last August but kept some Monero as it is bad ass, as here in Australia the gov outlawed purchase of Monero on regional exchanges so it was a no brainier to keep some.
 

Coja Petrus Uscan

Hummingbird
Gold Member
There are maybe 20 ETH competitors in or around the top 100 coins. People have billed them all as ETH killers, but it has not happened.

e-Radix - 1,400,000 TPS
EOS - 4,000 TPS
Ripple - 1,500 TPS
Tron - 748 TPS ; 2,000 reachable
Cardano - 250 TPS
ETH 1.1 - 15 TPS ; 100,000 is the claimed TPS of ETH 2.0
Bitcoin - 5 TPS

There is also an aversion in the space to decentralisation. The main competitors (with working products) are EOS and Tron. Both have a high degree of centralisation and in particular Tron has been panned for Justin Sun's endless self-agrandisement; on top of his hostile takeover of Steemit and his DLive censorship. Deep whales who tend to be purists do not take kindly to this centralisation, links to corporates and governments.

Both EOS and Tron have been about for around fours years and they both have one notable project on their chains: Evripedia and BitTorrent, which are not even particularly notable.

Almost all projects are on ETH. By putting your project on another chain you maroon it from capital, interest and transactions. It's a bit like WordPress - the code is horrendous, it gets hacked to pieces due to fundamental issues that can't be changed without a complete re-write, many of its implementations are awful hacks; but much of the world is dependent on it and its ecosystem. Moving from WordPress to something that is fundamentally superior has a large cash sum attached to it and you'd likely have to create parts of a new ecosystem to move.

On the other hand you have the web servers Apache and Nginx. As the years pass by projects become bloated and essentially need to be rewritten to address those issues. Apache was a leader for a decade or more, but now I believe most or a huge number have switched to the fundamentally superior Nginx. This didn't take long as there was very little ecosystem attached to Apache. Apache also started to get a reputation as centralised and corporatised, for a target market that is widely opposed to that. For most it was a question of hearing of Nginx's superiority and simply choosing to install that when you move server. The cost is a few hours of learning the new procedure and switching your server rules to a new format.

ETH has a cira $400 billion dollar ecosystem used in an increasing number of popular games, financial products, B2B products and tech products. In terms of DeFi in particular, many of the products communicate with each other. That is a huge hurdle for any competitor to overcome. As a result ETH is the most solid of all projects, because people are stuck on it, regardless of its (allegedly soon to be overcome) flaw. Bitcoin on the other hand, has no ecosystem...

Right now the TPS and gas fee is a real issue for ETH, but if they can get up to 100 TPS this year and 1,000 TPS next year then that goes away. I don't see any threat to ETH from any other chain. The only threat could come from cross-chain, which could make the chain you build on largely irrelevant in terms of ecosystem; and rather you would choose the chain that best fits your project - rather than the one with the ecosystem.
 
Last edited:

HKBhusal

Sparrow
Anyone have any thoughts on this?

CryptoTab Browser


Just popped up on my feed, but I'm not one to get roped into "MLM-get-rich-schemes" so quicky.........

Related: https://bitcoin.stackexchange.com/questions/1612/can-i-damage-my-computer-by-mining-bitcoin
 
There are maybe 20 ETH competitors in or around the top 100 coins. People have billed them all as ETH killers, but it has not happened.

e-Radix - 1,400,000 TPS
EOS - 4,000 TPS
Ripple - 1,500 TPS
Tron - 748 TPS ; 2,000 reachable
Cardano - 250 TPS
ETH 1.1 - 15 TPS ; 100,000 is the claimed TPS of ETH 2.0
Bitcoin - 5 TPS

There is also an aversion in the space to decentralisation. The main competitors (with working products) are EOS and Tron. Both have a high degree of centralisation and in particular Tron has been panned for Justin Sun's endless self-agrandisement; on top of his hostile takeover of Steemit and his DLive censorship. Deep whales who tend to be purists do not take kindly to this centralisation, links to corporates and governments.

Both EOS and Tron have been about for around fours years and they both have one notable project on their chains: Evripedia and BitTorrent, which are not even particularly notable.

Almost all projects are on ETH. By putting your project on another chain you maroon it from capital, interest and transactions. It's a bit like WordPress - the code is horrendous, it gets hacked to pieces due to fundamental issues that can't be changed without a complete re-write, many of its implementations are awful hacks; but much of the world is dependent on it and its ecosystem. Moving from WordPress to something that is fundamentally superior has a large cash sum attached to it and you'd likely have to create parts of a new ecosystem to move.

On the other hand you have the web servers Apache and Nginx. As the years pass by projects become bloated and essentially need to be rewritten to address those issues. Apache was a leader for a decade or more, but now I believe most or a huge number have switched to the fundamentally superior Nginx. This didn't take long as there was very little ecosystem attached to Apache. Apache also started to get a reputation as centralised and corporatised, for a target market that is widely opposed to that. For most it was a question of hearing of Nginx's superiority and simply choosing to install that when you move server. The cost is a few hours of learning the new procedure and switching your server rules to a new format.

ETH has a cira $400 billion dollar ecosystem used in an increasing number of popular games, financial products, B2B products and tech products. In terms of DeFi in particular, many of the products communicate with each other. That is a huge hurdle for any competitor to overcome. As a result ETH is the most solid of all projects, because people are stuck on it, regardless of its (allegedly soon to be overcome) flaw. Bitcoin on the other hand, has no ecosystem...

Right now the TPS and gas fee is a real issue for ETH, but if they can get up to 100 TPS this year and 1,000 TPS next year then that goes away. I don't see any threat to ETH from any other chain. The only threat could come from cross-chain, which could make the chain you build on largely irrelevant in terms of ecosystem; and rather you would choose the chain that best fits your project - rather than the one with the ecosystem.

Rather than TPS I'd focus on the number of developers as a meaningful measure of competitiveness. In that sense the only ones on your list that matter are BTC, ETH and ADA/Cardano.
 

lonewolf1968

Kingfisher
Anyone have any thoughts on this?

CryptoTab Browser


Just popped up on my feed, but I'm not one to get roped into "MLM-get-rich-schemes" so quicky.........

Related: https://bitcoin.stackexchange.com/questions/1612/can-i-damage-my-computer-by-mining-bitcoin
I'm very wary of projects that offer profitable 'mining' on phones, browsers, regular desktops, when an actual mining rig is made of several high-end GPUs to at least make even.
 

Mikeyd03

Robin
The only coin I understand is Monero and it seems undervalued for what it is and the adoption which from my understanding has gone parabolic over the last 4 years. It should be prices in the thousands of dollars right now, not hundreds. Maybe we won't see such prices for another few years.

Cardano has been winning and other than the "cheap" price new retailers like I'm not sure why. I'm finding it very difficult to pinpoint how much more it can grow in marketcap or satoshis. I told myself I was going to sell it around 1800 sats but I think it is going much higher. Ideally I want to sell it over 3500 sats now but not sure what will happen. Bitcoin could easily take off above 51k for no reason. I see ADA going to $2-3 in fiat price this year, maybe higher.
Accurate. XMR most undervalued crypto imo. Keep accumulating.
 

bucky

Ostrich
Accurate. XMR most undervalued crypto imo. Keep accumulating.
I'm a newb to actually owning crypto, but I noted above how Monero jumped out at me when I briefly looked into crypto a few years ago. I was very surprised to find that it's still at such a low price nowadays. I wonder if it has to do with fear of a government ban because of its untraceable nature.
 
Top