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HOT TOPIC Bitcoin / Cryptocurrency Discussion (And Predictions)

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Kevin88660

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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).
My friend made 5x from defi. To hold from bottom and not selling is not easy. Most people had positions before Covid hit and took partial profit along the way.
 

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Kevin88660

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That’s exactly what worries me about Bitcoin. As it becomes more of a “gambling” tool, this upswing may continue for a long time. But what is the “intrinsic” value? Is it a good storage of wealth or not? The limited coins design may imply “gold” but it clearly is not (as we now have multiple crypto currency). As a medium of exchange - thanks to Musk it’s getting better! But still, can’t buy a coffee or groceries at my local market, so no...

Yet stories like what you listed above are plentiful because value shot up. Now many rush in “to the moon”, thinking that no price can be too high. Wrong, there is always a price that’s too high. Just look at history of other innovative financial products. South Sea company example comes to mind. And yes, that is a very very old example.
I agree that blockchain has great potential and crypto has a great future, I’m trying hard to understand how to value the damn Bitcoin to decide how much and when to buy.
Not easy...
If you look at the history of investment, for thousands of year it used to be precious resources or artifacts. Land, gold, famous painting and Ming Dynasty vase.

In the last 2-300 years it become possible to invest in other people’s business. The concept of shares ownership in private limited companies and gradually equity begins to play a greater role. Stocks were literally outperforming other assets on average for the last 200 years but only in the 60s and 70s there were theories built on stocks investing in the academia. Before that stocks are largely seen by public as gamblers betting in a casino. Warren Buffet wanted to be a stock broker in his 20s and all his family members including his teacher Ben Gram advised him no to. That could tell you how much respects stocks investing were getting.

The prevailing theories about stocks’ values and other securities are about the lifetime of cashflow you can get through investing in them. But today with QE and extreme low yield environment it is no longer easy to rely on yield to make an investment decision because “everything becomes overvalued” by the old benchmark.

Tesla could be priced more than the market cap of the several largest automobiles companies combined. I think we are moving towards a “consensus driven” market valuation. Social Media and retail money opinion matter a lot more than professional money in the past. A lot of institutional money are for the long haul and the daily directions are driven by retail money who gets their opinions in their face book groups, reddit and twitter. As we know that social media tend to reinforce an opinion than to challenge it, it creates its own strong momentum.

The same can be applied to bitcoin. The early days multimillionaires who made money from bitcoins are still hoarding a lot of the bitcoins. Greyscale is creating a system the coins held in custody cannot be dumped back into the market. Michael Saylor is buying and shouting to the whole world. The outside community looking at bitcoin is asking “what is the value of bitcoin?”. The insiders are thinking “How high can we push the price higher if we do our parts and work together. And God bless us that we should not have too many traitors selling out too early and smash the market.” It is a lot about marketing, community building and faith building these days. United and hold the price will shoot for the moon. Sabotaging each other to take early profit and be skeptical the project will fail. Game has changed.
 

volodya

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If you look at the history of investment, for thousands of year it used to be precious resources or artifacts. Land, gold, famous painting and Ming Dynasty vase.

In the last 2-300 years it become possible to invest in other people’s business. The concept of shares ownership in private limited companies and gradually equity begins to play a greater role. Stocks were literally outperforming other assets on average for the last 200 years but only in the 60s and 70s there were theories built on stocks investing in the academia. Before that stocks are largely seen by public as gamblers betting in a casino. Warren Buffet wanted to be a stock broker in his 20s and all his family members including his teacher Ben Gram advised him no to. That could tell you how much respects stocks investing were getting.

The prevailing theories about stocks’ values and other securities are about the lifetime of cashflow you can get through investing in them. But today with QE and extreme low yield environment it is no longer easy to rely on yield to make an investment decision because “everything becomes overvalued” by the old benchmark.

Tesla could be priced more than the market cap of the several largest automobiles companies combined. I think we are moving towards a “consensus driven” market valuation. Social Media and retail money opinion matter a lot more than professional money in the past. A lot of institutional money are for the long haul and the daily directions are driven by retail money who gets their opinions in their face book groups, reddit and twitter. As we know that social media tend to reinforce an opinion than to challenge it, it creates its own strong momentum.

The same can be applied to bitcoin. The early days multimillionaires who made money from bitcoins are still hoarding a lot of the bitcoins. Greyscale is creating a system the coins held in custody cannot be dumped back into the market. Michael Saylor is buying and shouting to the whole world. The outside community looking at bitcoin is asking “what is the value of bitcoin?”. The insiders are thinking “How high can we push the price higher if we do our parts and work together. And God bless us that we should not have too many traitors selling out too early and smash the market.” It is a lot about marketing, community building and faith building these days. United and hold the price will shoot for the moon. Sabotaging each other to take early profit and be skeptical the project will fail. Game has changed.
Hi Kevin,

thanks for this reply.
Any time in history that people went “this time is different”, which I think you are implying (please correct me if I misunderstood), there was a correction.
2008 GFC was a great example of people (and professionals) believing that real estate prices would always go up. They were wrong.
Today, if you’re telling me that it’s different because values are based on holding on to Tesla stock to pump it up even further... then I’m out and will buy during the correction.
Bitcoin and crypto is confusing to me still. I just need to learn more, it’s my ignorance that’s preventing me from placing a bet. But I can tell that I’m not interested in Tesla at these values. Fundamentals for business values are linked to profit expectations. These are completely out of line for Tesla.
 

Kevin88660

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Hi Kevin,

thanks for this reply.
Any time in history that people went “this time is different”, which I think you are implying (please correct me if I misunderstood), there was a correction.
2008 GFC was a great example of people (and professionals) believing that real estate prices would always go up. They were wrong.
Today, if you’re telling me that it’s different because values are based on holding on to Tesla stock to pump it up even further... then I’m out and will buy during the correction.
Bitcoin and crypto is confusing to me still. I just need to learn more, it’s my ignorance that’s preventing me from placing a bet. But I can tell that I’m not interested in Tesla at these values. Fundamentals for business values are linked to profit expectations. These are completely out of line for Tesla.
I just think that it is more and more difficult to make money investing based on “fundamental” and “future cashflow” in the public market because of low yield environment, social media dominance and retail money controlling a bigger portion of the “float” in the market.

I wouldn’t buy Tesla and Bitcoin Today. I would invest into projects that could develop into a strong community behind it and the price has not yet reflected that. Fundamental business value is just one factor but not the only thing, and sometimes not the most important thing.

Like I said “investing based on value, which is just the sum of future expected cash flow” has been around with us just for a few decades. If you travel through a time machine and meet a 19 century royal family member and tell them they should’t own gold and artwork that “produce nothing” but pieces of certificates (now digital) that say you own a part of a business they will think you are crazy. My point is to be open minded and consider different ways of looking at “value”.
 

volodya

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I just think that it is more and more difficult to make money investing based on “fundamental” and “future cashflow” in the public market because of low yield environment, social media dominance and retail money controlling a bigger portion of the “float” in the market.

I wouldn’t buy Tesla and Bitcoin Today. I would invest into projects that could develop into a strong community behind it and the price has not yet reflected that. Fundamental business value is just one factor but not the only thing, and sometimes not the most important thing.

Like I said “investing based on value, which is just the sum of future expected cash flow” has been around with us just for a few decades. If you travel through a time machine and meet a 19 century royal family member and tell them they should’t own gold and artwork that “produce nothing” but pieces of certificates (now digital) that say you own a part of a business they will think you are crazy. My point is to be open minded and consider different ways of looking at “value”.
I am liking this exchange, Kevin.

Let me throw another example at you. Back in 1999 and all the way till about 2002 there was this belief that the values were disconnected from earnings, that the "fundamentals" are no longer applicable because the market did not price "risk" as high anymore and the only way to participate was to take the lower yield. This was the Dot-com bubble. The common thread has been capital becoming cheap and chasing low yield indiscriminately, not pricing in the risk is a mistake.

I am all for viewing value in different ways and am investing my most precious of resources (my time) here as well as reading books on Crypto and Blockchain. My research and my gut tells me there is something profoundly important there. I am just too ignorant to be an investor, yet I hope to become one soon. And this is the key, I have no idea if Bitcoin is overpriced or underpriced. Maybe it should be worth $1M per coin or maybe it should be $10k. My own lack of opinion on Bitcoin's value is what bugs me and drives me to research.

I'll leave you with a quote from a great book:

“There have been numerous recent examples where loose capital markets contributed to booms that were followed by famous collapses: real estate in 1989–92; emerging markets in 1994–98; Long-Term Capital in 1998; the movie exhibition industry in 1999–2000; venture capital funds and telecommunications companies in 2000–01. In each case, lenders and investors provided too much cheap money and the result was over-expansion and dramatic losses.” (from "Mastering the Market Cycle: Getting the Odds on Your Side" by Howard Marks)
 

Kevin88660

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I am liking this exchange, Kevin.

Let me throw another example at you. Back in 1999 and all the way till about 2002 there was this belief that the values were disconnected from earnings, that the "fundamentals" are no longer applicable because the market did not price "risk" as high anymore and the only way to participate was to take the lower yield. This was the Dot-com bubble. The common thread has been capital becoming cheap and chasing low yield indiscriminately, not pricing in the risk is a mistake.

I am all for viewing value in different ways and am investing my most precious of resources (my time) here as well as reading books on Crypto and Blockchain. My research and my gut tells me there is something profoundly important there. I am just too ignorant to be an investor, yet I hope to become one soon. And this is the key, I have no idea if Bitcoin is overpriced or underpriced. Maybe it should be worth $1M per coin or maybe it should be $10k. My own lack of opinion on Bitcoin's value is what bugs me and drives me to research.

I'll leave you with a quote from a great book:

“There have been numerous recent examples where loose capital markets contributed to booms that were followed by famous collapses: real estate in 1989–92; emerging markets in 1994–98; Long-Term Capital in 1998; the movie exhibition industry in 1999–2000; venture capital funds and telecommunications companies in 2000–01. In each case, lenders and investors provided too much cheap money and the result was over-expansion and dramatic losses.” (from "Mastering the Market Cycle: Getting the Odds on Your Side" by Howard Marks)
If you are looking at the value in the use case of bitcoin they are more apparent in the bear market 2018-2020 than it is current bull market which is more of a bet on wider adopter and institutional investment.

Bitcoin has a strong floor of 3k-5k usd. There has been academic research on bitcoin used as capital flight. Whenever there is a political turmoil in a country bitcoin will be traded at a premium there. Basically wealthy
elites use it as a quickly way to get their money out of the country.

Another factor leading to bitcoin’s several rally from 2018-2020 were due to crypto MLM projects. There were a lot of scam MLM projects running and the founders will always eventually convert their loot into bitcoin. Ransomware asking for bitcoin is another example. A lot of these bitcoin address are marked by police and they can never cash out in a proper exchange with kyc. So a lot of the bitcoin wallet address that has a lot of coins actually have no trading activity. There is no research backing this. This is a point covered by Chandler Guo an early adopter in his youtube sharing.

There are also altcoin like xrp used as small transaction cross border payment as it is cheaper than western union. In South East Asia there are a lot of Philippine nationals who work oversea and they use that as a cheaper alternative sometimes.
 

AceVentures

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I am liking this exchange, Kevin

Let me throw another example at you. Back in 1999 and all the way till about 2002 there was this belief that the values were disconnected from earnings, that the "fundamentals" are no longer applicable because the market did not price "risk" as high anymore and the only way to participate was to take the lower yield. This was the Dot-com bubble. The common thread has been capital becoming cheap and chasing low yield indiscriminately, not pricing in the risk is a mistake.

I am all for viewing value in different ways and am investing my most precious of resources (my time) here as well as reading books on Crypto and Blockchain. My research and my gut tells me there is something profoundly important there. I am just too ignorant to be an investor, yet I hope to become one soon. And this is the key, I have no idea if Bitcoin is overpriced or underpriced. Maybe it should be worth $1M per coin or maybe it should be $10k. My own lack of opinion on Bitcoin's value is what bugs me and drives me to research.

I'll leave you with a quote from a great book:

“There have been numerous recent examples where loose capital markets contributed to booms that were followed by famous collapses: real estate in 1989–92; emerging markets in 1994–98; Long-Term Capital in 1998; the movie exhibition industry in 1999–2000; venture capital funds and telecommunications companies in 2000–01. In each case, lenders and investors provided too much cheap money and the result was over-expansion and dramatic losses.” (from "Mastering the Market Cycle: Getting the Odds on Your Side" by Howard Marks)

Here's my advice for you -- quit thinking about it and just play around with it. Here's a fun little experiment you can run within a couple of minutes.

Go check out the below coordinates on Crypto Voxels - which is a mine-craft like web-based runtime environment in which users can interact with each other and other web3 elements.


There you will find an exhibit by The Dematerialised, which is an NFT marketplace for digital fashion and more. This brand runs on a new blockchain engine called LUKSO, which brings in a new ERC standard for NFTs. Simply put, it enables digital profiles vs what people have today, which is a simple public/private key pair for their cryptographic assets.

Feel free to roam around in Crypto Voxels and try to get a feel for the culture. If what you see in this universe doesn't pique your interest, then look no further and save all the time and resources you waste researching crypto.

If you want to know how deep the rabbit hole goes --> get an ETH wallet on MetaMask, load in a few hundred bucks, and start playing around across different Web3 applications.

Want to know what the price of an asset should be? Start using it, start engaging with other people that use it, learn as much as you can, and see if you recognize any patterns. Then it's up to you as to how you want to value things.

When Bitcoin was $100 for the first time, you could have argued the exact same thing you're arguing now - is it overpriced? is it too late? did you already miss it? are you too late? is this all a scam?

Today, the marketplace looks very different than it did thru 2015-2017. Back when smart-contracts were barely making an entrance, most ideas were still hype about what could be accomplished with smart-contracts. This summer showed the world that DeFi is f*cking huge and is not going anywhere. DeFi is in my opinion the first real use-case example of smart-contracts and how powerful they can be, and it will only exponentiation from here

The world is constantly struggling to keep up with the latest developments. By the time the VISA announcement hits on CNBC, you're no longer early to the party. Everybody knows. If you want to know what's undervalued, overvalued, game-changer, or complete bullshit, you need to get your hands dirty and play with the thing.

None of this is any financial advice - just trying to show you another perspective.
 
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AceVentures

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In South East Asia there are a lot of Philippine nationals who work oversea and they use that as a cheaper alternative sometimes.

Huge wave of the poor with access to the internet participating in cryptographic games that have tradeable elements with cryptocurrencies.

The Philippines has a huge community of Axie Infinity players - an NFT-based game. There are families literally just playing this game as a way to earn.
 

AceVentures

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Coinbase is about to IPO within the next couple of weeks.

They just released their Q1 earnings to hype the event. The numbers are impressive.

Coinbase has more than 4x the number of users of Robinhood. They did more revenue in the first quarter of Q1 than in all of 2020 - $1.8B in Q1 alone. Of that, $700-800M was profit. Handled $330Billion in trading volume.

Assuming no growth, that's $8B/yr in revenue or ~ $4B/yr in profit. Listing valuation $100B, so that's roughly 25x profit ratio or 12x earnings.
 

Timmy C

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Coinbase is about to IPO within the next couple of weeks.

They just released their Q1 earnings to hype the event. The numbers are impressive.

Coinbase has more than 4x the number of users of Robinhood. They did more revenue in the first quarter of Q1 than in all of 2020 - $1.8B in Q1 alone. Of that, $700-800M was profit. Handled $330Billion in trading volume.

Assuming no growth, that's $8B/yr in revenue or ~ $4B/yr in profit. Listing valuation $100B, so that's roughly 25x profit ratio or 12x earnings.

I won't be touching it.

Coinbase is a zero.

Defi and decentralized exchange apps will kill all centralized exchanges.
 

AceVentures

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I won't be touching it.

Coinbase is a zero.

Defi and decentralized exchange apps will kill all centralized exchanges.

I'm right there with you.

Institutional investors will benchmark CB to DeFi protocols and realize how productive this sector within crypto is. I think this will help DeFi blossom this summer.
 

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mguerra

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Here's my advice for you -- quit thinking about it and just play around with it. Here's a fun little experiment you can run within a couple of minutes.

Go check out the below coordinates on Crypto Voxels - which is a mine-craft like web-based runtime environment in which users can interact with each other and other web3 elements.


There you will find an exhibit by The Dematerialised, which is an NFT marketplace for digital fashion and more. This brand runs on a new blockchain engine called LUKSO, which brings in a new ERC standard for NFTs. Simply put, it enables digital profiles vs what people have today, which is a simple public/private key pair for their cryptographic assets.

Feel free to roam around in Crypto Voxels and try to get a feel for the culture. If what you see in this universe doesn't pique your interest, then look no further and save all the time and resources you waste researching crypto.

If you want to know how deep the rabbit hole goes --> get an ETH wallet on MetaMask, load in a few hundred bucks, and start playing around across different Web3 applications.

Want to know what the price of an asset should be? Start using it, start engaging with other people that use it, learn as much as you can, and see if you recognize any patterns. Then it's up to you as to how you want to value things.

When Bitcoin was $100 for the first time, you could have argued the exact same thing you're arguing now - is it overpriced? is it too late? did you already miss it? are you too late? is this all a scam?

Today, the marketplace looks very different than it did thru 2015-2017. Back when smart-contracts were barely making an entrance, most ideas were still hype about what could be accomplished with smart-contracts. This summer showed the world that DeFi is f*cking huge and is not going anywhere. DeFi is in my opinion the first real use-case example of smart-contracts and how powerful they can be, and it will only exponentiation from here

The world is constantly struggling to keep up with the latest developments. By the time the VISA announcement hits on CNBC, you're no longer early to the party. Everybody knows. If you want to know what's undervalued, overvalued, game-changer, or complete bullshit, you need to get your hands dirty and play with the thing.

None of this is any financial advice - just trying to show you another perspective.
@AceVentures

The first link (CryptoVoxels) you shared just blew my mind - and it gave me the incentive to dive deep into learning more about De-Fi and NFT (which I was procrastinating for weeks...)

The opportunities that this industries (and other upcoming ones) will allow in this next decade are AMAZING!

These will be truly blessed years for us, entrepreneurs.

Thanks for sharing your thoughts, brother. These insights are much appreciated!

Ps: What a time to be alive!
 
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Mike Partee

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Quick question for the group.

I'm interested in understanding the technicalities of ETH for building a DApp, soon in the future.

Any video series recommendations, etc? It's kind of a "Don't know where to start" scenario.
 

Ocean Man

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Bought a Ledger Nano X, I want to learn more.
 

Frinys

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Quick question for the group.

I'm interested in understanding the technicalities of ETH for building a DApp, soon in the future.

Any video series recommendations, etc? It's kind of a "Don't know where to start" scenario.

I do not have any useful links, but it would help if you could provide us with some more information. Most importantly, do you have any programming experience?

A DApp is simply just a smart contract. To build a DApp for Ethereum, you need to learn the Solidity programming language. Solidity is quite easy to learn if you already know another programming language. If not, you should consider doing a JavaScript course first. That way you can learn some programming fundamentals without having to care for blockchain details. You will need to know JavaScript when building the frontend of your DApp anyways.

I learned Solidity at a local event where we created a CryptoKitty clone. That was a great first project since we knew from the start what we were building. You may consider starting the same way, for example by using this medium tutorial. When this is done, you should have enough knowledge to work on your own DApp and use google when you get stuck.
 

AceVentures

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Quick question for the group.

I'm interested in understanding the technicalities of ETH for building a DApp, soon in the future.

Any video series recommendations, etc? It's kind of a "Don't know where to start" scenario.

Clone some repositories from GitHub, open up some scripts and see how everything is pieced together.

You can also learn by reading up on certain issues on GitHub. This one for example gave me some perspective on flashbots, which is a hot topic especially among miners as we approach EIP1559.

ethereum.org --> can't think of a better resource. Go straight to the docs and the community.

Read Vitalik's blog posts. These will give you perspective on what the latest issues are.
 

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AceVentures

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So many mind-blowing considerations!

The transhumanist philosophy was really interesting to me - a concept I hadn't heard coined before.

What was most notable for me were the geopolitical implications of crypto - especially the ideas around India embracing this new technology.

They are in a position today to really disrupt things by dominating the remote-software economy, moving towards becoming a tech and media superpower.

They have access to 4G/LTE at a 10x cheaper cost than in the US, and they've in essence brought 400MM people online. They don't need an H1B visa and a shitty apartment in silicon valley anymore to contribute to high-profile software projects, they can drive innovation from anywhere in the world.

Great share!
 

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Logan P

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Dont know much about it or how much it’s been discussed in this thread, but I’ve got some guys who work with me who’ve dumped a few thousand into “Hex” crypto over the last three weeks and have 4X’d their money. Might be worth looking at, might not be.
 

OverByte

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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 like coinlist.co they had best fees for transferring money from canadian banks. I believe they are insured and trying to be SEC compliant for future ICOs. One of the founders in Naval Ravikant who I don't know personally, and perhaps it's dangerous to say but based on podcasts I've listened to he seems like someone who doesn't run sham operations.

I personally lost a few thousand dollars several years back in a fraud related to the Canadian exchange Quadriga (I went with them because they were Canadian), there is still a class action lawsuit pending against them, i doubt I'll see any of the money (the holdings were in crypto (BTC/ETH) and were purchased in 2016 so not sure what the initial investment would have been worth). The biggest burn was that that event of being defrauded kept me out of the crypto game till 2020. All that to say, I like Coinlist, they seem like they aren't going to defraud me. Note one giant red flag I should have been aware with Quadriga was that the wire transfer to fund was to some bank in a small eastern european country I had barely heard of. It seemed sketchy but no one was complaining and the reddit crowd said that was the best exchange. Everything seemed legit. Coinlist wire transfers by contrast go to a US bank in California. Anyway just wanted to give that perspective as this is the only time I was ever defrauded and crypto is a bit of the wild west.
 

Frinys

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Dont know much about it or how much it’s been discussed in this thread, but I’ve got some guys who work with me who’ve dumped a few thousand into “Hex” crypto over the last three weeks and have 4X’d their money. Might be worth looking at, might not be.

"I have not read this thread. I haven't searched through it either. Here is something I heard about that I don't know anything about. Go ahead, check it out!"

I know you're just trying to be helpful, but if you're going to shill a coin, at least provide some value doing so. If you know nothing about it, why even mention it?
 

Logan P

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"I have not read this thread. I haven't searched through it either. Here is something I heard about that I don't know anything about. Go ahead, check it out!"

I know you're just trying to be helpful, but if you're going to shill a coin, at least provide some value doing so. If you know nothing about it, why even mention it?
Seemed like it was made pretty clear that I had no interest in researching or investing it in myself and to leave it up to the user to do their own legwork. To each their own.
 

swerving2sucess

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If you look at the history of investment, for thousands of year it used to be precious resources or artifacts. Land, gold, famous painting and Ming Dynasty vase.

In the last 2-300 years it become possible to invest in other people’s business. The concept of shares ownership in private limited companies and gradually equity begins to play a greater role. Stocks were literally outperforming other assets on average for the last 200 years but only in the 60s and 70s there were theories built on stocks investing in the academia. Before that stocks are largely seen by public as gamblers betting in a casino. Warren Buffet wanted to be a stock broker in his 20s and all his family members including his teacher Ben Gram advised him no to. That could tell you how much respects stocks investing were getting.

The prevailing theories about stocks’ values and other securities are about the lifetime of cashflow you can get through investing in them. But today with QE and extreme low yield environment it is no longer easy to rely on yield to make an investment decision because “everything becomes overvalued” by the old benchmark.

Tesla could be priced more than the market cap of the several largest automobiles companies combined. I think we are moving towards a “consensus driven” market valuation. Social Media and retail money opinion matter a lot more than professional money in the past. A lot of institutional money are for the long haul and the daily directions are driven by retail money who gets their opinions in their face book groups, reddit and twitter. As we know that social media tend to reinforce an opinion than to challenge it, it creates its own strong momentum.

The same can be applied to bitcoin. The early days multimillionaires who made money from bitcoins are still hoarding a lot of the bitcoins. Greyscale is creating a system the coins held in custody cannot be dumped back into the market. Michael Saylor is buying and shouting to the whole world. The outside community looking at bitcoin is asking “what is the value of bitcoin?”. The insiders are thinking “How high can we push the price higher if we do our parts and work together. And God bless us that we should not have too many traitors selling out too early and smash the market.” It is a lot about marketing, community building and faith building these days. United and hold the price will shoot for the moon. Sabotaging each other to take early profit and be skeptical the project will fail. Game has changed.
This little synthesis you made about the history of investments is simply great. I think that cryptocurrencies are here to stay.
 

swerving2sucess

New Contributor
Mar 6, 2021
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I am liking this exchange, Kevin.

Let me throw another example at you. Back in 1999 and all the way till about 2002 there was this belief that the values were disconnected from earnings, that the "fundamentals" are no longer applicable because the market did not price "risk" as high anymore and the only way to participate was to take the lower yield. This was the Dot-com bubble. The common thread has been capital becoming cheap and chasing low yield indiscriminately, not pricing in the risk is a mistake.

I am all for viewing value in different ways and am investing my most precious of resources (my time) here as well as reading books on Crypto and Blockchain. My research and my gut tells me there is something profoundly important there. I am just too ignorant to be an investor, yet I hope to become one soon. And this is the key, I have no idea if Bitcoin is overpriced or underpriced. Maybe it should be worth $1M per coin or maybe it should be $10k. My own lack of opinion on Bitcoin's value is what bugs me and drives me to research.

I'll leave you with a quote from a great book:

“There have been numerous recent examples where loose capital markets contributed to booms that were followed by famous collapses: real estate in 1989–92; emerging markets in 1994–98; Long-Term Capital in 1998; the movie exhibition industry in 1999–2000; venture capital funds and telecommunications companies in 2000–01. In each case, lenders and investors provided too much cheap money and the result was over-expansion and dramatic losses.” (from "Mastering the Market Cycle: Getting the Odds on Your Side" by Howard Marks)
Here's another example that no one is paying attention. What has happened with the US dollar in Venezuela.
 

srodrigo

Silver Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Sep 11, 2018
460
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Bouncing off the bottom of this big rising wedge; once we hit the top line, it will break giving us a straight shot from mid $60k-70k to $100k in the blink of an eye (over a span of a few days, maybe a week)..
3 weeks later, I must be looking at the wrong charts.
 

Leo Hendrix

Bronze Contributor
Read Millionaire Fastlane
Speedway Pass
Apr 15, 2014
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Quick question for the group.

I'm interested in understanding the technicalities of ETH for building a DApp, soon in the future.

Any video series recommendations, etc? It's kind of a "Don't know where to start" scenario.
Check out Dapp University on YouTube, good channel with free code run throughs.

( He also offers bootcamp courses, I plan to take the blockchain developer one so I can learn for future projects etc.)

Also - cryptozombies.io seems popular.

Eat the blocks YouTube channel is another good dev channel that does demos and tutorials etc. on different applications.

This was posted last night in the Solidity Development Telegram group: https://github.com/bkrem/awesome-solidity
( Solidity Resources)
 
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