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Bitcoin / Cryptocurrency Discussion (And Predictions)

Timmy C

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@MoneyDoc

If you have cash to burn we are probably at the early stages of the next parabolic move towards the moon before the bottom crashes out under this and everyone craps their pants and starts screaming again about how big a scam crypto is.

Get in now, get out fast, and then get back in when everyone is crying about how they mortgaged their house to buy 200k bitcoin because they were a genius.


Most likely, this is the case.

After the next move I am taking most of what I have except Bitcoin off the table.

Leaving some in, just in case I am wrong.
 
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Kevin88660

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I am new to the crypto world but would like to learn. In this thread I see many who know enough to qualify as experts.

What do you recommend as the best source of information on crypto?

Here is what I read so far:
I feel that I know just enough to get in trouble... what do you recommend as the next step?

A friend who's been following crypto for a decade recommended me to start with a kraken.com account and to order a hardware wallet on ledger.com

I am considering buying: Bitocoin, Ether, Litecoin, Tezos, USD Coin. I need to learn more to determine how much I am willing to spend and how much of what to buy.

Any advice and your time is greatly appreciated.
I would recommend learning how to use metamask and studying about defi.

And of course risk management skill in any sort of investment. This is a fast moving space that you choose and time it well it make much more money faster than traditional investment. The reverse is true. Reckless gambling and fomo will kill you faster too.
 

Kevin88660

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We have been consolidating for about a month now after a correction man.

If that's what your waiting for, you might be waiting forever.
Not to say it can't drop a fair bit from here, but might be an idea to DCA in now.
It surprised me that bitcoin is going strong even when stock market has yet fully recovered from the March correction.
 

OverByte

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I'm interested to know the number of ETH contracts verified per day and assuming this is a good measure of DeFi app activity (at least ETH powered DeFi).

I found this chart: Ethereum Daily Verified Contracts Chart | Etherscan but it doesn't seem correct to me, I mean only a few hundred contracts executed per day seems very low (and I don't think I'm misreading the scale). Don't many stablecoins leverage the ethereum network and wouldn't transactions with those stablecoins be considered ethereum contracts?

So a couple questions for the ETH enthusiasts:
  • Is this chart I found correct and if not is there a better way to find this information?
  • is my assumption that number of verified contracts is a good measure of DeFi app activity (at least those DeFi apps powered by ETH) valid?
  • Are stablecoin transactions like USDT which I believe runs on ETH network, not considered contracts? I don't see them obviously listed in the contract explorer so maybe I'm wrong about that...
 

Frinys

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I'm interested to know the number of ETH contracts verified per day and assuming this is a good measure of DeFi app activity (at least ETH powered DeFi).

I found this chart: Ethereum Daily Verified Contracts Chart | Etherscan but it doesn't seem correct to me, I mean only a few hundred contracts executed per day seems very low (and I don't think I'm misreading the scale). Don't many stablecoins leverage the ethereum network and wouldn't transactions with those stablecoins be considered ethereum contracts?
Contracts verified is not the same as contracts executed. Verification happens when the contract is uploaded. Execution happens when that contract is triggered. You seem to be looking for execution, but you look at verification.

Also, not all contracts are Defi contracts. To look at execution of all smart contracts says little about DeFi app activity.
So a couple questions for the ETH enthusiasts:
  • Is this chart I found correct and if not is there a better way to find this information?
The chart is correct, but it is not what you are looking for. I don't know if there is any existing solutions where you can find DeFi contract activity. You may have to code it yourself.
  • is my assumption that number of verified contracts is a good measure of DeFi app activity (at least those DeFi apps powered by ETH) valid?
I guess you mean executed contracts. In any case, the answer is no. As mentioned above, DeFi contracts are only a small part of all smart contracts running on Ethereum. You need to apply some filter to only measure DeFi contracts.
  • Are stablecoin transactions like USDT which I believe runs on ETH network, not considered contracts? I don't see them obviously listed in the contract explorer so maybe I'm wrong about that...
You are right. All Ethereum tokens are smart contracts. You can find USDT here: Tether USD (USDT) Token Tracker | Etherscan
 

theSandmanAT

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What's wrong about selling (some) of one's holdings in cryptos?
It's an asset class not generating any income.
Until you can directly buy food (or anything) with it while paying reasonable fees, you basically have to sell it to survive if you ahve no other means or sources of income.
 

Timmy C

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What's wrong about selling (some) of one's holdings in cryptos?
It's an asset class not generating any income.
Until you can directly buy food (or anything) with it while paying reasonable fees, you basically have to sell it to survive if you ahve no other means or sources of income.


You should be more concerned that you are buying crypto with the money you need for food.
Nothing wrong with selling your crypto at all, it's a personal decision.
 
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Leo Hendrix

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I am new to the crypto world but would like to learn. In this thread I see many who know enough to qualify as experts.

What do you recommend as the best source of information on crypto?

Here is what I read so far:
I feel that I know just enough to get in trouble... what do you recommend as the next step?

A friend who's been following crypto for a decade recommended me to start with a kraken.com account and to order a hardware wallet on ledger.com

I am considering buying: Bitocoin, Ether, Litecoin, Tezos, USD Coin. I need to learn more to determine how much I am willing to spend and how much of what to buy.

Any advice and your time is greatly appreciated.

Best source of info on crypto - I think due to the distributed/decentralized nature of this space/industry and just in general regarding research and finding quality sources of information - you will most probably have to get info from several/aggregated sources of info.

Facebook groups : Defi Nation ( one of the best), Crypto Coin Trader, Cryptocurrency Investing and Litecoin ( Be careful of Shills & Scams). Working Class Blockchain ( Good to learn from and ask questions.)

Books : Bullish on Bitcoin, Digital Gold, The Bitcoin Standard and books by Andreas and Jimmy Song for more technical leanings.

Telegram and Discord servers seem to be the best place to learn what's actually happening right now and to see and learn how projects are interacting with their investors and community + you can connect with others in the space to learn from. You could check out: Spectre GRP, Wave Jumpers, Ethfoundation, CryptoDevs.

YouTube: DappUniversity, Ivan On Tech, DavinciJ15, Sheldon Evans, JrnyCrypto

+ Keep reading white-papers of projects ( I don't much anymore unless I feel they are trying to do something different.)

Naval Ravikant's Clubhouse recording or actual CH on crypto stuff has great content and people on.

Twitter is pretty good but can also be quite messy, shilly and even toxic.

Maybe check out some Technical Analysis ( which is helpful/useful when deciding when to buy/sell assets), although some people think TA doesn't apply to crypto.

Oh and email subs: Bankless (Comprehensive) The Defiant ( Beginner Friendly). Noncense ( Fun & Informative news).

Podcasts are always good but I prefer industry focused content over other stuff...I'm sure you can search online for what suits your tastes - I recently found out about the Cyberfm App which has the blockchain radio show - some really nice content so far.
 
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AceVentures

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This is a new service I discovered and wanted to share with the group. The company is called Bidali and they establish a direct line of communication between merchants and customers via gift-cards.

This is their cofounder Eric Kryski on the topic of next-generation payments.

“For crypto users, instead of going from your wallet or an exchange - then your bank account, then a credit card and finally to the Gap - we basically cut out a bunch of that and say, why don't you just go directly from crypto assets to a gift card at the Gap?”

I think this creates a very interesting dynamic. The value of the gift-card is bound by the reputation of the organization, that's the contract the user gets into with the company. Gift cards are easily understood and usable across most of our daily lives. The company in turn receives value as locked in the distributed ledger that they trust, most of which are accessible to just about anyone with an internet connection.

I imagine this enables a lot more sales for entrepreneurs accepting these new payment systems.
 

nitrousflame

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I am new to the crypto world but would like to learn. In this thread I see many who know enough to qualify as experts.

What do you recommend as the best source of information on crypto?

Here is what I read so far:
I feel that I know just enough to get in trouble... what do you recommend as the next step?

A friend who's been following crypto for a decade recommended me to start with a kraken.com account and to order a hardware wallet on ledger.com

I am considering buying: Bitocoin, Ether, Litecoin, Tezos, USD Coin. I need to learn more to determine how much I am willing to spend and how much of what to buy.

Any advice and your time is greatly appreciated.
@Leo Hendrix already provided a nice list of resources to check out, but I'll add some:
Uncommon Core podcast

That said, there's simply no replacement for experience, so as soon as you understand the risks and associated fees, get in and start tinkering by actually using the stuff.
 

MoneyDoc

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Guys, what would be the best exchange for me to buy BTC, ETH, and some other alt coins that coinbase doesn't offer?

I'm in Canada. I did sign up for kraken, would that be the best?
 
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Antifragile

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@Leo Hendrix already provided a nice list of resources to check out, but I'll add some:
Uncommon Core podcast

That said, there's simply no replacement for experience, so as soon as you understand the risks and associated fees, get in and start tinkering by actually using the stuff.
Thanks guys, very much appreciated!
 

Antifragile

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theSandmanAT

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Guys, what would be the best exchange for me to buy BTC, ETH, and some other alt coins that coinbase doesn't offer?

I'm in Canada. I did sign up for kraken, would that be the best?

I've used kraken in the past (2017) and moved to bitfinex because of very poor user interface at that time.
I've been trading very low volumes since and this year I've bought some alt coins on binance, because of the high limits on bitfinex (min. 10.000EUR for withdraws) and because of the anonimity options offered by binance.
 

Timmy C

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Whatever exchanges you use, up your withdrawal limit on them.

When liquidating to a bank account, if you have any issues with the bank approving it,transfer it to a stable coin and drip feed it to your bank over a few months.

Ideally, you should have more than one bank account in case they do any funny business.
 
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Fox

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Two close friends made very decent x10 gains on crypto the last year.

One guy 200k in and now around 2m (bitcoin).

The other 5k in and now around 200k (alt coin).
 

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