Bitcoin / Cryptocurrency Discussion (And Predictions)

[Wouter]

I think it's very important to understand how early we still are in the crypto space. We're entering a period of democratization of value.

Bitcoin is like the internet in 1996. At that time, the internet was slow, raw, expensive and clunky. You needed expensive equipment, it was very expensive to access and difficult to use. Downloading anything from the internet took forever. And still people thought it was exciting. Just like the internet, Bitcoin is a protocol.

The internet we have today is abundant, it's cheap and 'it just works'. It's put the whole world at our fingertips. You have access to more information today than many world leaders did 30 years ago, all thanks to the internet!

Video tapes turn into DVD's which turn into digital movies (information). Cassette tapes turn into CD's which turn into digital music (information). Things turn into information and information becomes free. A web developer in the Philippines can work for a business owner in the U.S. They use Zoom to meet, Paypal to transfer money, Gmail to send each other emails. All these tools are free for anyone to use.

Bitcoin and crypto in general right now is slow, expensive, raw and hard to use for many. In 10 or 20 years we'll be looking back at this time the same way we look back on the internet in 1996. How crazy it was to pay $10 for a transaction on the Bitcoin network ('wow, people used to do transactions on the base layer?!').

People say about Bitcoin: 'It's so clunky and not user friendly, my mom will never be able to use it'. They forget that you could have said the same thing about internet in the 90's. Yet today, even my grandma knows how to use Facebook, Instagram or make contactless payments in the supermarket. We're judging a lot of these projects for what they are now instead of what they could be.

Just look at old talk show clips from the 90's on YouTube. People sitting around a table discussing how they cannot imagine how the internet is useful. 'Why would you send an email, when you can just send a post card?' or 'Why would I need a mobile phone when people can just call me at home?'. It's only later that the majority of people will realise why it's useful. The late majority will just use it and don't even think about how it works or why it's useful because it's become so normal.

The internet is built on the rails of TCP/IP. If you asked 100 people how the internet works and what TCP/IP is, how many people do you think can explain that? I bet it's less than 1/100. And the great thing is you don't NEED to know how it works to know the internet is valuable and to be able to use it in your daily life today. Yet people expect to know how Ethereum or Bitcoin work from a 30 minute YouTube video.

How many people do you think were able to predict Netflix, Airbnb, Uber, Amazon, 4G/5G, Artificial Intelligence in the 90's? Hell, even the iPhone and all things it's replaced. You don't need to buy a professional camera, car navigation system, computer, radio, CD's, DVD's or phone book anymore. You just buy an iPhone. There's an app for everything and most of them are free.

You needed to have a lot of imagination to see what the internet could become in the 90's. That's why you see all these new crypto projects popping up. People are experimenting, seeing what they can build. Seeing what value they can provide. Most of these projects will fail, but that's not the point. The point is that we're discovering what this new technology CAN DO. Yet people are asking why people pay $500K for a CryptoPunk NFT. Even if only a few projects stand the test of time, the impact on our lives will be hard to grasp right now. We do know one thing: the genie is out of the bottle and it won't go back in.

That's why I appreciate @AceVentures taking the time to educate people and being on the front lines of this.

 

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[Andy Black]

To date I’ve been happy to ignore crypto, Bitcoin, and NFTs. I don’t want to go down techie rabbit-holes.

I like Gary V (although couldn’t listen to him much). So when he’s excited about NFTs and says it’s Web 3.0 then I’m interested.

Here’s the podcast:

‎My First Million: #209 with Gary Vaynerchuk - Why NFTS Are the Future on Apple Podcasts

‎Show My First Million, Ep #209 with Gary Vaynerchuk - Why NFTS Are the Future - 13 Aug 2021

podcasts.apple.com

 

[MTF]

Just watched the first four videos and this is absolutely BRILLIANT.

Thank you again for recommending it. It's exactly what I've been looking for. They make it super simple, insightful and fun. Their production is extraordinary, too.

Watched another five and am completely hooked. This is BY FAR the best resource on crypto and the future of finance in general ever.

Series | Ledger

If you're curious about Web3 and want to take control of your digital freedom, come along for the ride as we explore the world of crypto and blockchain one block at a time. Each episode is a relatable take on how crypto is impacting culture, from fine art to finance - good times guaranteed.

www.ledger.com

 

[Mineralogic]

To date I’ve been happy to ignore crypto, Bitcoin, and NFTs. I don’t want to go down techie rabbit-holes.

I like Gary V (although couldn’t listen to him much). So when he’s excited about NFTs and says it’s Web 3.0 then I’m interested.

Here’s the podcast:

‎My First Million: #209 with Gary Vaynerchuk - Why NFTS Are the Future on Apple Podcasts

‎Show My First Million, Ep #209 with Gary Vaynerchuk - Why NFTS Are the Future - 13 Aug 2021

podcasts.apple.com

gary v is hyping nfts here? come on, most are in bubbles. 100k for pixelated bs

it will change the world for business but not like this

most of this bs is for money laundering

my predictions: btc to 10k
eth to 10k

icp and qnt will go up 5x from here


ltc, zec, bch, etc and all greater fool ponzi cryptos will die a slow death

utility and getting enterprises aboard are the next wave, not waiting for some idiot to pay more for your coin which is worthless to begin with and not moving business forward

 

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[Mineralogic]

I think it's very important to understand how early we still are in the crypto space. We're entering a period of democratization of value.

Bitcoin is like the internet in 1996. At that time, the internet was slow, raw, expensive and clunky. You needed expensive equipment, it was very expensive to access and difficult to use. Downloading anything from the internet took forever. And still people thought it was exciting. Just like the internet, Bitcoin is a protocol.

The internet we have today is abundant, it's cheap and 'it just works'. It's put the whole world at our fingertips. You have access to more information today than many world leaders did 30 years ago, all thanks to the internet!

Video tapes turn into DVD's which turn into digital movies (information). Cassette tapes turn into CD's which turn into digital music (information). Things turn into information and information becomes free. A web developer in the Philippines can work for a business owner in the U.S. They use Zoom to meet, Paypal to transfer money, Gmail to send each other emails. All these tools are free for anyone to use.

Bitcoin and crypto in general right now is slow, expensive, raw and hard to use for many. In 10 or 20 years we'll be looking back at this time the same way we look back on the internet in 1996. How crazy it was to pay $10 for a transaction on the Bitcoin network ('wow, people used to do transactions on the base layer?!').

People say about Bitcoin: 'It's so clunky and not user friendly, my mom will never be able to use it'. They forget that you could have said the same thing about internet in the 90's. Yet today, even my grandma knows how to use Facebook, Instagram or make contactless payments in the supermarket. We're judging a lot of these projects for what they are now instead of what they could be.

Just look at old talk show clips from the 90's on YouTube. People sitting around a table discussing how they cannot imagine how the internet is useful. 'Why would you send an email, when you can just send a post card?' or 'Why would I need a mobile phone when people can just call me at home?'. It's only later that the majority of people will realise why it's useful. The late majority will just use it and don't even think about how it works or why it's useful because it's become so normal.

The internet is built on the rails of TCP/IP. If you asked 100 people how the internet works and what TCP/IP is, how many people do you think can explain that? I bet it's less than 1/100. And the great thing is you don't NEED to know how it works to know the internet is valuable and to be able to use it in your daily life today. Yet people expect to know how Ethereum or Bitcoin work from a 30 minute YouTube video.

How many people do you think were able to predict Netflix, Airbnb, Uber, Amazon, 4G/5G, Artificial Intelligence in the 90's? Hell, even the iPhone and all things it's replaced. You don't need to buy a professional camera, car navigation system, computer, radio, CD's, DVD's or phone book anymore. You just buy an iPhone. There's an app for everything and most of them are free.

You needed to have a lot of imagination to see what the internet could become in the 90's. That's why you see all these new crypto projects popping up. People are experimenting, seeing what they can build. Seeing what value they can provide. Most of these projects will fail, but that's not the point. The point is that we're discovering what this new technology CAN DO. Yet people are asking why people pay $500K for a CryptoPunk NFT. Even if only a few projects stand the test of time, the impact on our lives will be hard to grasp right now. We do know one thing: the genie is out of the bottle and it won't go back in.

That's why I appreciate @AceVentures taking the time to educate people and being on the front lines of this.

bitcoin, litecoin, etc are betmax right now

crypto is tech and these are dinosaurs

invest in good tech which was enterprises building on it

only a few choices, btc is NOT one of them

 

[Mineralogic]

I think it’s better than the alternative which is people need to spend years saving for a massive deposit and in the meantime house prices keep increasing. People could instead own a fraction of thier home and then slowly buy out the other owners as their equity increases and as they are able to borrow more money.

I also think another very good use for this to help the average person is buying a share of commercial property which generally are insanely expensive and impossible to buy for the average person but which also tend to have much bigger rental returns than residential property. It opens these returns up to the average person who has a small amount saved.

Gary Vee has a podcast episode where he talks about using NFTs to buy fractional property. He also has a lot of other ideas which make a lot of sense in the space. The podcast Is my first million if anyone is interested in listening and learning about where someone who is a massive believer thinks these things are going.

its being implement already by companies out there

all a nft does is allow crowdfunding and fractionalized investment ownership in real estate which you can already do today, it will just timestamp on the blockchain and possibly allow a secondary market to cash out early

that's it.

doesnt change housing is in a bubble

in the end there is no reason anything should be a bubble over it

it does help ETH ecosystem and those involved for organic demand of the source crypto

but in the end you don't need crypto token payment to fractionalize a rental property

 

[Mineralogic]

I agree with the technological aspects, but think BTC will be a safe haven for everything market related, as it becomes more diluted and less volatile, similar to what Gold is today.

its already reached its goal near a trillion market cap for a coin that can't do anything

i also think it will die a slow death or just be like gold in the end, boring, and a frustrating investment

wall st is selling people on btc hype such as 100k btc, etc as they support eth and a few other web 3.0 versions out there or coming


be very careful, all markets are in manias right now

long time eth hodler here

 

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[Wouter]

bitcoin, litecoin, etc are betmax right now

crypto is tech and these are dinosaurs

invest in good tech which was enterprises building on it

only a few choices, btc is NOT one of them

I disagree with you and see fundamental flaws in your reasoning. But that doesn't matter, because you're free to place your bets on whatever crypto you like. It's a free market after all. Only time will tell what crypto will stand the test of time.

 

[Kevin88660]

As an asset and store of value. Yes. Crypto is succeeding and will likely to prosper. First time in history we create value concensus and community building.

But for other form of growth, it will be hard. I dont expect crypto to have very much non-asset, non speculative use like internet economy anytime soon. Because when you get used to make quick money you hate slow money. Crypto used will be largely in alternative finance.

Do you want to launch a play to earn coin like axis infinity or provide block chain as a service to earn money like b2b saas? Clearly the investors want former not the later. It will be a giant black hole sucking away talents and capital.

 

[Andy Black]

gary v is hyping nfts here? come on, most are in bubbles. 100k for pixelated bs

it will change the world for business but not like this

most of this bs is for money laundering

my predictions: btc to 10k
eth to 10k

icp and qnt will go up 5x from here


ltc, zec, bch, etc and all greater fool ponzi cryptos will die a slow death

utility and getting enterprises aboard are the next wave, not waiting for some idiot to pay more for your coin which is worthless to begin with and not moving business forward

That’s not what I got from that podcast.

 

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[Antifragile]

What are you all doing about risk with the infrastructure bill soon to pass (end of Sep)? It’ll require huge AML/KYC disclosures and may drop crypto like few things can. Stable coins aren’t immune as I understand they aren’t all backed with cash, lots of debt used (gov t-bills etc). Fiat sucks and I don’t feel like cashing out and paying taxes on crypto gains either.

thoughts?

 

[MTF]

Watched another five and am completely hooked. This is BY FAR the best resource on crypto and the future of finances in general ever.

Series | Ledger

If you're curious about Web3 and want to take control of your digital freedom, come along for the ride as we explore the world of crypto and blockchain one block at a time. Each episode is a relatable take on how crypto is impacting culture, from fine art to finance - good times guaranteed.

www.ledger.com

Aaaaand starting from episode 13-14 it stops making any sense, with the host assuming the viewers understand what's going on with the different terms he uses and all the weird things he's doing with crypto in his wallet.

I found it funny how in one episode he talks about crypto allowing great passive returns and then in episode 16 see him depositing money earning 2.9% a year. Considering crypto's volatility, it makes no sense at all.

I think that maybe I should just save my time and focus on my business and acquiring "ordinary" cashflowing assets rather than studying this black magic. If the Internet was like this before it became mainstream, the guys who capitalized on it truly deserve it for this stuff is impossible to grasp for an idiot like me.

 

[Ocean Man]

Aaaaand starting from episode 13-14 it stops making any sense, with the host assuming the viewers understand what's going on with the different terms he uses and all the weird things he's doing with crypto in his wallet.

I found it funny how in one episode he talks about crypto allowing great passive returns and then in episode 16 him depositing money earning 2.9% a year. Considering crypto's volatility, it makes no sense at all.

I think that maybe I should just save my time and focus on my business and acquiring "ordinary" cashflowing assets rather than studying this black magic. If the Internet was like this before it became mainstream, the guys who capitalized on it truly deserve it for this stuff is impossible to grasp for an idiot like me.

I found the best way for me to understand the concepts and learn was to actually buy crypto and play with it. I'm into ADA (Cardano), so I learned how to set up my wallet, receive, send, and stake my coins. It's one thing to watch, but it's another when you actually try it out. Smart contracts for Cardano come out Sept. 12 which means until then besides receiving, sending, and staking there isn't too much to do at the moment. If you want, you can try buy a bit of Ethereum and play around with that.

I wouldn't consider crypto a get-rich scheme although it is possible to accumulate some wealth through it quickly if you play your cards right.

Staking wise for me, I'm looking at around a 5% return per year. Once smart contracts come out, I'll look into things like lending which provides me with a bit of a higher return.

I like crypto because my return is much higher than any savings account. At this point, I feel more comfortable having my money in my own wallet than sitting in a bank. Like, I get charged $15-20 if I don't meet a minimum daily balance in my bank account, like what the hell? No thanks. I'll keep my money in crypto and use better alternatives to earn.

 

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[MTF]

Staking wise for me, I'm looking at around a 5% return per year.

That sounds crazy low to me. The value of the coin can go up or down by more than 5% in a day. I have safe 10%+ collateralized investments in euros so in comparison crypto makes zero sense. 5% for that amount of risk is just unacceptable (from my perspective).

Also, how do you know Cardano won't lose all its value within a year, replaced by Solana, Polkadot, or something completely else? Who cares you get 5% from staking if its value drops 50% in the meantime?

Even ETH may be irrelevant a year from now with how quickly it all evolves. It's all just a giant gamble.

The School of Block I mentioned shows mostly how to use it instead of talking about the technical side and it's still extremely confusing.

I wanted to play with it but I don't feel comfortable investing any amount in it (including buying a cold wallet) if I can't tell at all whether my money will go to zero a year from now (unlike with cashflowing assets with underlying productive value that are extremely unlikely to dry up just like that).

 

[theag]

democratization

This term always lets all my bullshit alarms go off

 

[theag]

I like Gary V (although couldn’t listen to him much). So when he’s excited about NFTs and says it’s Web 3.0 then I’m interested.

Gary V will say whatever generates attention for Gary V.

 

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[Ocean Man]

The value of the coin can go up or down by more than 5% in a day.

True!

5% for that amount of risk is just unacceptable (from my perspective).

Everybody's risk tolerance is a bit different. As long as you invest the amount you're okay with losing, that's alright then. Never invest money you're not okay with losing.

Also, how do you know Cardano won't lose all its value within a year, replaced by Solana, Polkadot, or something completely else? Who cares you get 5% from staking if its value drops 50% in the meantime?

That's the thing... You don't know whether Cardano, Ethereum, or any other coin will be here by next year.

Just like with any other investment, you do your own due diligence.

For me, I researched, compared, and found something I personally believe in. It could go up or it could go down.

And the 5% staking, for me, is just an added benefit of being able to do nothing and earn more coins in a project that I already believe in. During the time that I'm staking, I could also be doing other things with it. Because my ADA coins are not locked when staking. There's no benefit in figuring out whether or not 5% staking is worth it because every person has a different opinion on whether it's worth it or not worth it for them. For me, it's worth it.

It's all just a giant gamble.

It's based on your beliefs. If you think crypto is going to be here for the long term then you probably think it's less of a gamble. Vice-versa.

Someone who uses crypto and interacts with the community often is going to have a different opinion than somebody who doesn't.

For me, I just try to learn and try as many different things in the space as I can. If I don't know something, I'll look it up, talk to some people, follow and see what other people are saying. I lose pocket change when I'm trying something new that I've never tried before. But that's how I'm able to learn! It's all an experience.

I can't say who is or who isn't going to be here next week, next month, or next year. I just find projects and people that I believe in and invest in them. It's fun for me.

--
Also for anyone reading, please don't blindly invest in ADA or any other coin I may have mentioned. Do your own due diligence and find projects, companies, and things that you believe in.

 

[MTF]

Thanks, @Ocean Man. I appreciate your thoughtful response.

My primary interest in crypto is getting away from the fu*kers inflating the world. The decentralization part and the ability to show the middle finger to the politicians appeals to me. I also want to protect my wealth (while ideally growing it).

But for the time being (or because of my low risk tolerance) it doesn't seem to be a good solution for this particular problem.

 

[nitrousflame]

FWIW, earning a 5% return in an asymmetric risk asset like crypto is virtually incomparable to 5% interest in something like USD.

Also, keep in mind that you only need a very very small allocation to this stuff to make a difference in the returns of your entire portfolio.

 

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[Rawr]

The world will change whether we're ready or not.

]. If the Internet was like this before it became mainstream, the guys who capitalized on it truly deserve it for this stuff is impossible to grasp for an idiot like me.

now you're getting it. And another thing - it wont take years like it did with the internet to establish, it will take a fraction of that. We might have had an nft bubble create and pop within two weeks just now.


listen to the Kevin Rose podcast though , they discuss some really cool ways to make $ off nfts (like prints). As I said Im new but I understand the vision. Right now you want to either be 1. buying iconic stuff (if u know what u doing), 2. making generative art if u arent famous, 3. making nfts if you are famous. 4. building the framework. 5. supporting artists you like by buying what you like without speculation.

thats why i am not getting into it to speculate.

(btw on making art, some lesser known project just had a drop, 1000 pieces, mint price was .12 eth. thats $350k at the time to the designer of nfg algorithm split with the project owners. I said that ,and they said a day ago there was another project at .25 eth. Real money being made.

 

[Rawr]

Im gonna say again Im new to this , but one thing that immediately became a concern was gas fees. People are paying more to mint an nft that then nft is worth. IN this lesser known project the gas fees were $300-500 cause they chose a time when 2 other projects dropped. And if you lose you gas because it doesnt go through ,you lose it, like a story i heard yesterday of a guy who lose 2eth when that happened.

this is insane. I know its well known but wow as a newbie this is a huge obstacle to getting in and playing around.

 

[Hai]

Tranchess Bishop token have a 100% average APY on USDC. The reason these returns are possible is because it's still early, and it's basically a decentralized derivatives trading protocol. Backed by 3AC. Your risk is obviously a protocol hack.

 

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[OleksiyRybakov]

I think it's very important to understand how early we still are in the crypto space. We're entering a period of democratization of value.

Bitcoin is like the internet in 1996. At that time, the internet was slow, raw, expensive and clunky. You needed expensive equipment, it was very expensive to access and difficult to use. Downloading anything from the internet took forever. And still people thought it was exciting. Just like the internet, Bitcoin is a protocol.

The internet we have today is abundant, it's cheap and 'it just works'. It's put the whole world at our fingertips. You have access to more information today than many world leaders did 30 years ago, all thanks to the internet!

Video tapes turn into DVD's which turn into digital movies (information). Cassette tapes turn into CD's which turn into digital music (information). Things turn into information and information becomes free. A web developer in the Philippines can work for a business owner in the U.S. They use Zoom to meet, Paypal to transfer money, Gmail to send each other emails. All these tools are free for anyone to use.

Bitcoin and crypto in general right now is slow, expensive, raw and hard to use for many. In 10 or 20 years we'll be looking back at this time the same way we look back on the internet in 1996. How crazy it was to pay $10 for a transaction on the Bitcoin network ('wow, people used to do transactions on the base layer?!').

People say about Bitcoin: 'It's so clunky and not user friendly, my mom will never be able to use it'. They forget that you could have said the same thing about internet in the 90's. Yet today, even my grandma knows how to use Facebook, Instagram or make contactless payments in the supermarket. We're judging a lot of these projects for what they are now instead of what they could be.

Just look at old talk show clips from the 90's on YouTube. People sitting around a table discussing how they cannot imagine how the internet is useful. 'Why would you send an email, when you can just send a post card?' or 'Why would I need a mobile phone when people can just call me at home?'. It's only later that the majority of people will realise why it's useful. The late majority will just use it and don't even think about how it works or why it's useful because it's become so normal.

The internet is built on the rails of TCP/IP. If you asked 100 people how the internet works and what TCP/IP is, how many people do you think can explain that? I bet it's less than 1/100. And the great thing is you don't NEED to know how it works to know the internet is valuable and to be able to use it in your daily life today. Yet people expect to know how Ethereum or Bitcoin work from a 30 minute YouTube video.

How many people do you think were able to predict Netflix, Airbnb, Uber, Amazon, 4G/5G, Artificial Intelligence in the 90's? Hell, even the iPhone and all things it's replaced. You don't need to buy a professional camera, car navigation system, computer, radio, CD's, DVD's or phone book anymore. You just buy an iPhone. There's an app for everything and most of them are free.

You needed to have a lot of imagination to see what the internet could become in the 90's. That's why you see all these new crypto projects popping up. People are experimenting, seeing what they can build. Seeing what value they can provide. Most of these projects will fail, but that's not the point. The point is that we're discovering what this new technology CAN DO. Yet people are asking why people pay $500K for a CryptoPunk NFT. Even if only a few projects stand the test of time, the impact on our lives will be hard to grasp right now. We do know one thing: the genie is out of the bottle and it won't go back in.

That's why I appreciate @AceVentures taking the time to educate people and being on the front lines of this.

Thank you for this valuable post. I also think that cryptocurrency has a future as similar as the internet. Yet, at the moment, this asset is still novel and requires a lot of technical understanding. It is not so easy to understand everything like how do blockchains work, what is the proof of work and the proof of stake or what happens when a quantum computer manages to hack the blockchain quickly.

Additionally, lots of platforms where cryptocurrency can be traded, lended and staked are not very user-friendly. Once I tried to perform a transaction on the wrong network (BSC instead of ERC-20) and lost some of my assets. When trying to resolve this issue, communicating with the support was not very customer-oriented. Although I managed to restore some of my assets, I hated this type of support so much that I will definitely no longer consider being an affiliate for them.

Which leads me to the following: The way which leads to wealth quickly is, in my opinion, not located in investing into cryptocurrency. The true riches can be found in building a better cryptocurrency platform than the state-of-the-art platforms. And there are definitely lots of things that in my opinion should be improved, I seriously do not like that one state-of-the-art trading platform (it not the same as the one I have mentioned before) does not provide direct exchange between currencies like Ethereum and Cardano. Are there any entrepreneurs at this forum that are working or planning to work on such a platform?

 

[Frinys]

I think that maybe I should just save my time and focus on my business and acquiring "ordinary" cashflowing assets rather than studying this black magic. If the Internet was like this before it became mainstream, the guys who capitalized on it truly deserve it for this stuff is impossible to grasp for an idiot like me.

I think you judge yourself too hard for not understanding how it all works together. Unless you are planning to start a crypto business, you don't really need to know all of the details.

Daily, when using the internet, we use protocols like TCP, HTTP, IP, TSL. To understand these protocols, we must understand network topology, routing, packaging, message queueing, congestion control, cryptography, the inner workings of operating systems, and more. No one says "I cannot use the internet because I don't understand how a network package arrives at the correct destination IP".

The same goes for cryptocurrencies. You can play around with it, use it, and invest in it, without understanding all of the details. As long as you double-check an address before you send crypto, and keep your wallet safe, you're good to go. Don't force yourself to learn everything just because. Most likely, as long as you stay excited about crypto, you will learn a lot just by using it.

 

[MTF]

The same goes for cryptocurrencies. You can play around with it, use it, and invest in it, without understanding all of the details. As long as you double-check an address before you send crypto, and keep your wallet safe, you're good to go. Don't force yourself to learn everything just because. Most likely, as long as you stay excited about crypto, you will learn a lot just by using it.

Here I didn't refer to the technical side but the stuff the guy in the videos was doing in his wallet. I can't even summarize what he did because I have no idea. Something with Uniswap, moving from one network to another, yield farming, using some kind of a "bridge," etc., all on different sites, one more confusing than another.

For example, I have no idea what's going on here:

View: https://www.youtube.com/watch?v=x3HSr62ax3U


I also don't get this video on passive income from crypto:

View: https://www.youtube.com/watch?v=5Bumvpt8KUM


He talks about staking (with yet another different platform) and investing in liquidity pools without ever explaining what the heck it means and what it's actually doing with your invested money and whether you have access to it, where it goes, etc.

 

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[Ocean Man]

Here I didn't refer to the technical side but the stuff the guy in the videos was doing in his wallet. I can't even summarize what he did because I have no idea. Something with Uniswap, moving from one network to another, yield farming, using some kind of a "bridge," etc., all on different sites, one more confusing than another.

For example, I have no idea what's going on here:

View: https://www.youtube.com/watch?v=x3HSr62ax3U


I also don't get this video on passive income from crypto:

View: https://www.youtube.com/watch?v=5Bumvpt8KUM


He talks about staking (with yet another different platform) and investing in liquidity pools without ever explaining what the heck it means and what it's actually doing with your invested money and whether you have access to it, where it goes, etc.

I can understand your frustration. It seems like the author is talking about too many different aspects of crypto at one time. I would also be confused if he's talking about Uniswap, yield farming, briding, staking, etc... It's not your fault.

I would start with something like:
Q. I want to learn how wallets work, so I'm going to learn about what:
- A seed phrase is
- How to send and receive transactions
- Whitelisting addresses
And that'd be all for the start.

Likewise, if I'm interested in Uniswap, I would ask questions like:
- What is Uniswap?
- Why do people use Uniswap?
- What do people usually use Uniswap for?
- As an experiment, I'm going to try to swap from one coin and then swap back to my original coin

NFT questions
- What is an NFT?
- What is minting?
- Where can I buy or sell an NFT?

Just basic general questions about a certain aspect of crypto. I wouldn't try to learning a lot of different things at once until I understand one thing. Then once I feel like I have a decent understanding of what that one thing is used for, maybe I'll learn something else.

I hope that can help a bit instead of using a shotgun approach of trying to learn a lot of different things at one time! There are so many different things going on in crypto at once that it's better to just learn a thing or two until you have a general idea of what they are.

 

[Rawr]

ok i need a catalyst to buy ETH lower. Anything like that on the horizon?

 

[Hai]

ok i need a catalyst to buy ETH lower. Anything like that on the horizon?

Bro ETH has been consolidating averaging at 2,5k for 3 months. What are you doing

 

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[GIlman]

The analogy of crypto to the early internet is interesting….and it definitely has a similar feel to it. In particular wild speculation on things that people said “would provide value” in the future, although the plan how that value would be provided was undefined.

There was internet startup, after internet startup. Money being thrown at anything that had the word internet or named eSomething or iSomething. No one could rationally explain the valuations of these things other than to say they were the future.

And then the dot com bubble burst and nearly the whole thing burned down. Right now hearing people talk about crypto feels exactly like people talking about internet companies before the dot com bubble burst.

Based on this, I expect at some point a horrific crash, a cleansing of the market, and a few key players to survive. I see a future for crypto and the technology behind it, but from where I sit the place to be at the moment is on the sidelines watching until it all burns down. Then sort through the ashes and pick up some choice discounted pieces.

I realize this is probably an unpopular opinion at the moment, but time will tell after the current insane asset bubble mania ends, if the similar feel to the crypto mania now and internet mania around 2000 end up playing out similarly.

 

[Antifragile]

The analogy of crypto to the early internet is interesting….and it definitely has a similar feel to it. In particular wild speculation on things that people said “would provide value” in the future, although the plan how that value would be provided was undefined.

There was internet startup, after internet startup. Money being thrown at anything that had the word internet or named eSomething or iSomething. No one could rationally explain the valuations of these things other than to say they were the future.

And then the dot com bubble burst and nearly the whole thing burned down. Right now hearing people talk about crypto feels exactly like people talking about the dot com bubble.

Based on this, I expect at some point a horrific crash, a cleansing of the market, and a few key players to survive. I see a future for crypto and the technology behind it, but from where I sit the place to be at the moment is on the sidelines watching until it all burns down. Then sort through the ashes and pick up some choice discounted pieces.

I realize this is probably an unpopular opinion at the moment, but time will tell after the current insane asset bubble mania ends, if the similar feel to the crypto mania now and internet mania around 2000 end up playing out similarly.

You are not wrong, just not specific enough. It’s like saying that the internet TC/IP will crash - it didn’t and it won’t. But take NFTs “collectables etc” for example, they are indeed like the dot com companies - 98% no value at all. There was this one little company, Amazon something… but the rest, we all know the story.
@GIlman - your posts on medical research were stellar. It’s your domain, well researched and much appreciated. To return the favor, allow me to just say that throwing all Crypto into “dot com” is a mistake. Infrastructure that allows NFTs to be built isn’t going anywhere. 98% of no added value projects will burn to the ground after masses start “investing”.