Bitcoin is about to fly in my opinion.
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Free registration at the forum removes this block.@James Fend @Timmy C @csalvato
Do you guys think we'll have another altseason with this next big bounce?
I've been reading from some people on twitter that after a BTC drops after a top, then it's a great time to buy alts, because they're likely to follow a dip. I've started to observe and confirm this pattern.
If this is true again, we're likely to have a pretty good shot at buying a great position in solid coins for spetacullar gains. From my observation, coins that are a good opportunity for at least 100%+ gains if entered in the dip:
- LTC
- NANO
- ADA
- XLM
etc..
These coins have at least 150%+ upside from the last 90 days ALONE. If you consider the ATH, the room for gains is even bigger.
But.. thoughts seems divided about the future of smaller altcoins now. I'm still reflecting on it.
What's you guys thoughts about it?
I've been reading from some people on twitter that after a BTC drops after a top, then it's a great time to buy alts, because they're likely to follow a dip. I've started to observe and confirm this pattern.
Anywho... $34,500 happened, didn't hold, and if this $30.2k holds, we should be green light for $45k (more likely $50k
What percentage of your investable capital did you put in at 40k?so I got a bit excited and bought at 40k, I am fairly new to this and didn't want to miss out since I missed the train last month at 18k. Is my best strategy to hodl now, and maybe buy some more now?
it was ~20% but i am still in collegeWhat percentage of your investable capital did you put in at 40k?
Are you trying to play swings and make some fast cash or are you in a buy and hold mindset? This will impact when and how you should buy.it was ~20% but i am still in college
I was thinking holding but viewing how governments can react as it grows I am not so sure anymore (They cannot take it down but they can put up a fight). Plus hearing other arguments from wise financial advisers like buffet and munger talking about how it doesn't provide any value to the market and how it will end bad. So I am unsure for now, just feeling like I am losing lol. Sorry I know I am very inexperienced, my take last week before investing was that my saving is giving me >1% and bitcoin is grew 200% last year so why not put cash in.Are you trying to play swings and make some fast cash or are you in a buy and hold mindset? This will impact when and how you should buy.
I was thinking holding but viewing how governments can react as it grows I am not so sure anymore (They cannot take it down but they can put up a fight). Plus hearing other arguments from wise financial advisers like buffet and munger talking about how it doesn't provide any value to the market and how it will end bad. So I am unsure for now, just feeling like I am losing lol.
so I got a bit excited and bought at 40k, I am fairly new to this and didn't want to miss out since I missed the train last month at 18k. Is my best strategy to hodl now, and maybe buy some more now?
thx for the wise words!just "let it ride" and forget about it
As a young college student, that's probably what I would do. At a young age, you can tolerate a huge amount of risk.thx for the wise words!
What exchange did you purchase on?so I got a bit excited and bought at 40k, I am fairly new to this and didn't want to miss out since I missed the train last month at 18k. Is my best strategy to hodl now, and maybe buy some more now?
Yeah I am 20 studying engineering in Texas.As a young college student, that's probably what I would do. At a young age, you can tolerate a huge amount of risk.
CoinbaseWhat exchange did you purchase on?
We will have an alt season in my opinion yes.
Otherwise I wouldn't be positioned in some of them.
In regards to your coins. No one has any idea man.
Me personally, I would not hold on to them and plan on selling them at some point. I have already taken back my initial investment on my alts and now most of them are risk-free moonshots.
Altcoins dropped some 99% at the end of 2017, no guarantee they will get back to those highs, most won't. So keep in mind, what you put in alts can disappear overnight. Asses your risk tolerance, and study your countries tax code CAREFULLY.
Many crypto to crypto trades are taxable events. You can be left with a huge tax bill and no fiat to pay them, all the while your alts have evaporated into worthlessness.
I know what of mine are investments and what I am speculating on. It is best to have a long term time horizon in this market.
If you haven't invested in crypto before, you will most likely get eaten alive.
Just my thoughts.
Ended up touching $30.2k, and luck has been by my side as I caught something very nice to it. I'm hoping over the next 24 hours my entry is so low inside the long bottom green wick that it doesn't even get close to getting retested.
Anywho... $34,500 happened, didn't hold, and if this $30.2k holds, we should be green light for $45k (more likely $50k though). I suspect a slower (over 2-3 weeks) for it to crawly upwards and upwards to $45-50k.
Once that happens though... it's time to get out imo. Reduce exposure as a bigger pullback is to be fully expected after that. Once we survive that bigger pullback (which could be March/April) before we bottom from that... it will be green light and rockets away to $60k+ (late spring).
Yes, it is. Specifically; it's when Bitcoin pumps then pulls back to a strong support line and holds it. That's usually the Go light for the Alts as it deems it fairly safe that Bitcoin was not doing some blow off top.
I think only a select few will return to visit all time highs; the stronger ones from 2017. Eth, Xlm, Ltc, Ada, Eos.
Very limited options (Buy or Sell) on Coinbase. If buying for the long term and not looking to get in and out without having to watch daily then coinbase would work.Coinbase
Thx for the advice, yeah I think my best option is hodlyou need to decide what type you are
The average confirmation time for a Bitcoin transaction was 12.74 minutes in October 2020. The effect of the longer transaction time may not be an issue for cryptocurrency speculators, but it may make Bitcoin an unattractive medium of exchange.
Nick Szabo: The first layer is the blockchain itself; the Bitcoin we call the Capital B blockchain doing the secure transactions and the ones you can do from Albania to Zimbabwe without a trusted third party going through the blockchain. The second layer and the ability to grow the transactions per second on that is very limited. You can grow the value per transaction quite substantially, but the ability to grow transactions for the second is limited because those have a certain size and you have to make copies of them around it and so forth.
Tim Ferriss: I see, so the second layer would be for the coffee or the pizza.
Nick Szabo: Yeah. And so as this grows, as more and more people start using this, they’re competing for that limited block space and the fees are going up. So if you want to have a up of coffee without having to pay as much fee as you paid for the coffee, in two or three or four years from now you’re going to have to use one of these side chain or what I call peripheral financial networks that it’s collateralized on the blockchain. It’s almost as trust minimized as the blockchain itself but it’s for lower value transactions that only periodically settle on the blockchain.
Some very good questions.source: Bitcoin transaction confirmation time 2020 | Statista
Given this, Bitcoin as it is can't become a currency for everyday small purchases. This was also discussed by crypto experts like Nick Szabo:
So, can Bitcoin ever become something else than digital gold or do we need another cryptocurrency for everyday purchases where transactions can be processed as quickly as right now through Visa/Mastercard?
Can Ethereum serve this function or is it also limited?
How do you account for the risk that none of the currently available cryptocurrencies may work for this purpose and something else, much better, emerges in, say, two years and dominates the market?
Another question: when (not if) the world loses confidence in USD, do you guys think crypto has a chance or is it still too early given not enough trust, infrastructure, and ease of use? If not crypto, what can at least temporarily replace USD?
The world would probably transit to an asset backed currency.source: Bitcoin transaction confirmation time 2020 | Statista
Given this, Bitcoin as it is can't become a currency for everyday small purchases. This was also discussed by crypto experts like Nick Szabo:
So, can Bitcoin ever become something else than digital gold or do we need another cryptocurrency for everyday purchases where transactions can be processed as quickly as right now through Visa/Mastercard?
Can Ethereum serve this function or is it also limited?
How do you account for the risk that none of the currently available cryptocurrencies may work for this purpose and something else, much better, emerges in, say, two years and dominates the market?
Another question: when (not if) the world loses confidence in USD, do you guys think crypto has a chance or is it still too early given not enough trust, infrastructure, and ease of use? If not crypto, what can at least temporarily replace USD?
source: Bitcoin transaction confirmation time 2020 | Statista
Given this, Bitcoin as it is can't become a currency for everyday small purchases. This was also discussed by crypto experts like Nick Szabo:
So, can Bitcoin ever become something else than digital gold or do we need another cryptocurrency for everyday purchases where transactions can be processed as quickly as right now through Visa/Mastercard?
Can Ethereum serve this function or is it also limited?
How do you account for the risk that none of the currently available cryptocurrencies may work for this purpose and something else, much better, emerges in, say, two years and dominates the market?
Another question: when (not if) the world loses confidence in USD, do you guys think crypto has a chance or is it still too early given not enough trust, infrastructure, and ease of use? If not crypto, what can at least temporarily replace USD?
source: Bitcoin transaction confirmation time 2020 | Statista
Given this, Bitcoin as it is can't become a currency for everyday small purchases. This was also discussed by crypto experts like Nick Szabo:
So, can Bitcoin ever become something else than digital gold or do we need another cryptocurrency for everyday purchases where transactions can be processed as quickly as right now through Visa/Mastercard?
Can Ethereum serve this function or is it also limited?
How do you account for the risk that none of the currently available cryptocurrencies may work for this purpose and something else, much better, emerges in, say, two years and dominates the market?
Another question: when (not if) the world loses confidence in USD, do you guys think crypto has a chance or is it still too early given not enough trust, infrastructure, and ease of use? If not crypto, what can at least temporarily replace USD?
Another question: when (not if) the world loses confidence in USD, do you guys think crypto has a chance or is it still too early given not enough trust, infrastructure, and ease of use? If not crypto, what can at least temporarily replace USD?
A few years back it is true.Well, let's look at Venezuela, shall we.
If your government-backed currency was getting devalued at such a rate as this. Would you care that Bitcoin was slow? probably not as your buying power still remains.
Would you care that payments were expensive? Nope, that expense is well worth the cost.
Even if Bitcoin or litecoin isn't ready, it's still better.
I agree. The lightning network is amazing and fast. But it's overly complex and much more prone to double-spend attacks compared to Bitcoin.Does anyone else not agree that the lightning network is already amazing and fast?
Looks like Bitcoin has already solved the scale issue most likely.
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