Bitcoin / Cryptocurrency Discussion (And Predictions)

[AceVentures]

Not trying to make a point.

Just trying to see if there are some coins I've been missing that I need to look into.

I was hoping you'd name some that I could look into. It sounds like you don't have that list, though.

It sounds more like you picked a bunch of coins, not truly believing in any one of them, in the hopes one of them goes to the moon.

Nothing is wrong with that.

Your original post just made it sound like you had a firm belief in some/all altcoins to not drop 90% by the time the bears take over.

I've shuffled things around so these aren't the exact ones I have today but:

- AAVE and SUSHI

Growing liquidity pools and $staked

- BNB and XVS

A bet on a centralized exchange binance. They have their Binance Smart Chain which is a side-chain to ETH and can accelerate speeds while reducing fees. DeFi or CeFi in some ways on their platform - I think it can be good for some

- LINK

- I think you already had this one

- ATOM

- Another blockchain interoperability software as I understand it

- AVAX

- This one admittedly was a bit random

- FET

- The AI company I had interest in. They were just enlisted by a German automation company called FESTO.

* Again, I bucketed because I can't and don't have the time to know everything about all of them. I picked a couple of directions and picked some projects I found interesting.

 

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[Timmy C]

I've shuffled things around so these aren't the exact ones I have today but:

- AAVE and SUSHI

Growing liquidity pools and $staked

- BNB and XVS

A bet on a centralized exchange binance. They have their Binance Smart Chain which is a side-chain to ETH and can accelerate speeds while reducing fees. DeFi or CeFi in some ways on their platform - I think it can be good for some

- LINK

- I think you already had this one

- ATOM

- Another blockchain interoperability software as I understand it

- AVAX

- This one admittedly was a bit random

- FET

- The AI company I had interest in. They were just enlisted by a German automation company called FESTO.

* Again, I bucketed because I can't and don't have the time to know everything about all of them. I picked a couple of directions and picked some projects I found interesting.

Hey man, no one cares if you just bought random crap.

I have two of them:
Tomochain and aragon.

Ask me why they are good?

Not a clue!

 

[Timmy C]

On an unrelated note.

I really need to stay offline when I am drunk.

 

[Musashi]

What’s going to happen with Crypto and Government Crypto? I think this scenario is very likely:

Why Bitcoin Could be Banned or Criminalized in the Coming Years

Monetary system changes could become a big problem for Crypto fans

medium.com

 

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[Timmy C]

What’s going to happen with Crypto and Government Crypto? I think this scenario is very likely:

Why Bitcoin Could be Banned or Criminalized in the Coming Years

Monetary system changes could become a big problem for Crypto fans

medium.com

I guess it's a good thing you sold then.

 

[Timmy C]

I guess at least with crypto they won’t have to keep printing more and more.

They can instead just switch to copy + paste.

The future.

 

[theag]

 

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[Timmy C]

My friends who called me an idiot the last few years as I've been buying are coming out of the woodwork now, lol.

So ahh, what're some of those coins bruh?

 

[Timmy C]

 

[rodvaN]

The 2018 bear market took a year to happen. I think there is enough time to get out in the bull to bear transition.

I will keep play alt coin (flipping them) because in a bull market this is where the money is. 100 percent downside risk versus 300-500 percent return.

If a black swan event happen such as covid that can bring stock market to its knees, crypto market will be annihilated too. But that is once in a ten years event.

In a bear market I will be fleeing to fiat not to btc. I really dont see the case for btc from a trading pov.

Having a 80 percent downside risk as in improvement for 100 percent downside risk is hardly enticing. Why not speculate on risky projects (with risk management spread over multiple projects) instead.

In my case, I bought $200, $100, and $50 from all the cryptos I could 1 month ago. My surprise is that after the bitcoin rise, they all went to the moon.
If Nigerian people are doing a revolution and organizing to stop using the Naira and migrate to Crypto P2P transfer, that's a really good signal that the new coins will be cryptos, cause they cannot be faked, hacked, or corrupted.

Let's see what happens.

 

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[Martin.G]

In my case, I bought $200, $100, and $50 from all the cryptos I could 1 month ago. My surprise is that after the bitcoin rise, they all went to the moon.
If Nigerian people are doing a revolution and organizing to stop using the Naira and migrate to Crypto P2P transfer, that's a really good signal that the new coins will be cryptos, cause they cannot be faked, hacked, or corrupted.

Let's see what happens.

Well, not all cryptos. For example, Ethereum had a hard fork because some people think that they had to change what happened. That not fully decentralized, so they can be faked, hacked o corrupted.

 

[maverick]

Focus on the foundational parts of crypto:

• BTC: big institutions are starting to move in
• ETH: smart contracts, big dev community, need I say more?
• DeFi: UNI, SushiSwap (as main innovator on UNI), AAVE, Synthetix
• Oracles: LINK (needed to get data from off-blockchain sources => on-blockchain smart contracts)

DYOD, RTFM and GTFO with profits ;-)

 

[Timmy C]

 

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[theag]

In my case, I bought $200, $100, and $50 from all the cryptos I could 1 month ago. My surprise is that after the bitcoin rise, they all went to the moon.
If Nigerian people are doing a revolution and organizing to stop using the Naira and migrate to Crypto P2P transfer, that's a really good signal that the new coins will be cryptos, cause they cannot be faked, hacked, or corrupted.

Let's see what happens.

There is a revolution in that part of the world every other week. Not that much of a signal.

 

[Raoul Duke]

What about DOGEcoin?

 

[Kevin88660]

View attachment 36805

The market is moving too fast. There is no time for proper research. Once I see keywords such as cross-chain protocol/aggregator, undercollateralisatoon and sustainable yield I click the buy button.

If I don’t have time to figure out the next guy buying this doesn’t have either.

 

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[Kevin88660]

What about DOGEcoin?

Whales having large position selling at 0.08 resistance.

Now it is falling below 0.06. The only reason to buy the coin is to wait for Elon Musk to announce his personal position in it.

Elon is an expert in “pumpamentals” and pushing the grand narrative. He chose clean energy and space exploration long before the fields or narrative became popular.

His company on neurons research could one day link brain signals to block chains via oracle, creating the next hundred billions dollar worth company.

 

[rodvaN]

Well, not all cryptos. For example, Ethereum had a hard fork because some people think that they had to change what happened. That not fully decentralized, so they can be faked, hacked o corrupted.

Thank you for your feedback, I didn't know that, do you have some reference links?
On the other way, I like Filecoin: A decentralized storage network for humanity's most important information | Filecoin
I also like SC (Siacoin) Which is competing against Amazon S3 for file storage. Let's remember Dropbox was using Amazon S3 buckets. So as a developer Sia technology is 90% cheaper for storing files. And it is very cheap right now for everybody that hasn't jumped into the crypto train.

The market is really bullish right now, and old-timer crypto enthusiasts told me it might go down like past years. But I don't think so, there are so many things happening in the world right now and I trust more in crypto tech than in a bunch of old people running economic entities such as the Federal Reserve, Banks, and printed money based on debt and wars.

That is just my thought.

 

[Dora Wi]

Whales having large position selling at 0.08 resistance.

Now it is falling below 0.06. The only reason to buy the coin is to wait for Elon Musk to announce his personal position in it.

Elon is an expert in “pumpamentals” and pushing the grand narrative. He chose clean energy and space exploration long before the fields or narrative became popular.

His company on neurons research could one day link brain signals to block chains via oracle, creating the next hundred billions dollar worth company.

I agree about Elon Musk.

All in all I think he is an inspiring figure. He has done many things that have an effect on people and the planet as well. But he is definitely an expert in using his fame to impact the markets - all it takes is a one-word tweet and people are all over the asset in question.

 

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[Kevin88660]

I agree about Elon Musk.

All in all I think he is an inspiring figure. He has done many things that have an effect on people and the planet as well. But he is definitely an expert in using his fame to impact the markets - all it takes is a one-word tweet and people are all over the asset in question.

I have some position in dogecoin. Be prepared to lose 100 percent when bear market come. But If Elon includes doge in his next narrative expect a 10-20 times pump.

A lot of institutional speculative money are already in Bitcoin and they are shilling hard for the current narrative to push more corporate cash into it. That’s why they are condemning Elon Musk irresponsible for pushing dogecoin instead of bitcoin.

But If I am Elon why would I use my fame and influence to fulfill someone else agenda.

“Fate loves irony. Dogecoin that started as a joke one day could be the cryptocurrency for the Earth.”- Elon Musk

 

[James Fake]

Whoa... this thread is moving!

My bearish concern got blasted away that same weekend when Elon Musk tweeted.

Back to the original! Good times...

 

[Frinys]

I have some position in dogecoin. Be prepared to lose 100 percent when bear market come. But If Elon includes doge in his next narrative expect a 10-20 times pump.

A lot of institutional speculative money are already in Bitcoin and they are shilling hard for the current narrative to push more corporate cash into it. That’s why they are condemning Elon Musk irresponsible for pushing dogecoin instead of bitcoin.

But If I am Elon why would I use my fame and influence to fulfill someone else agenda.

“Fate loves irony. Dogecoin that started as a joke one day could be the cryptocurrency for the Earth.”- Elon Musk

To hold DOGE now is a sidewalk move. You waste your money on a gamble that some guy will tweet something that will send DOGE mooning. When the biggest motivation to buy a cryptocurrency is a famous person, you better be careful.

Most probably, it will crash hard. The only reason for its current price is because of Elon. What do you think happens when he gets tired of his trolling?

 

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[James Fake]

At it's current trajectory and momentum; I have a target of low $100,000 in late March to early April before a fairly nice sized correction comes.

I also think; a correction to the S&P will occur around late May as well.

Until then; it should be fairly lights out upward movement.

With that said; Uranium and Antimony stocks look mighty juicy. =)
(particularly the handful of $1-2 ones that sit inside Robinhood)

 

[Martin.G]

Thank you for your feedback, I didn't know that, do you have some reference links?
On the other way, I like Filecoin: A decentralized storage network for humanity's most important information | Filecoin
I also like SC (Siacoin) Which is competing against Amazon S3 for file storage. Let's remember Dropbox was using Amazon S3 buckets. So as a developer Sia technology is 90% cheaper for storing files. And it is very cheap right now for everybody that hasn't jumped into the crypto train.

The market is really bullish right now, and old-timer crypto enthusiasts told me it might go down like past years. But I don't think so, there are so many things happening in the world right now and I trust more in crypto tech than in a bunch of old people running economic entities such as the Federal Reserve, Banks, and printed money based on debt and wars.

That is just my thought.

The DAO - Wikipedia

en.wikipedia.org

 

[Kevin88660]

To hold DOGE now is a sidewalk move. You waste your money on a gamble that some guy will tweet something that will send DOGE mooning. When the biggest motivation to buy a cryptocurrency is a famous person, you better be careful.

Most probably, it will crash hard. The only reason for its current price is because of Elon. What do you think happens when he gets tired of his trolling?

It is like buying option. High payout but high chance to fail. On a very small amount. I still bet more on themes like defi and cross chain protocol which have more legitimate pumpamentals.

I am still heavily in cash in term of portfolio allocation. Crypto as a whole for me is just chasing the end of the parabolic bull market for all risk asset that can be very rewarding. It is 24/7 market will wide range of coin selection. Buy dips on good narrative can be rewarding.

In term of underlying tech BTC is not really superior to Doge which in fact has lower transaction fee higher transaction speed. Doge also have the second largest user base next to btc.

A lot of hedge fund have a lot of btc and they are shilling against another coins because they want to pump their bags to the mainstream.

 

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[nitrousflame]

It's impossible to secure both the most used PoW coin (bitcoin) and the smaller ones at the same time. In essence, this means that unless a PoW coin is a top 10 pow coin, it's insecure by nature.

I haven't seen anyone in here address this yet, so I'll take a stab.

I think what you might be missing boils down to two main items:
1) The fact that there are several proof of work hashing algorithms, and
2) A thing called deep reorg protection

The first one is perhaps easier to understand. When two chains use different hashing algorithms, the ability to 51% attack each other becomes greatly reduced. It would be like using a calculator only capable of performing addition operations to perform a division operation. Possible? Technically yes, but very inefficient.

Now in the event that a chain does fork without changing the hashing algorithm, they can still implement deep reorg protection. For example, bitcoin cash (BCH) shares the same hashing algorithm (and genesis block) as bitcoin, but because BCH added reorg protection, the longest you'd need to wait for your coins to be fully secure would be 10 blocks.

Thus, it is possible to have several PoW chains. The best way would be to use different hashing algorithms, but it's not the only way.

 

[maverick]

Hope everyone had a good V-day!

 

[Frinys]

I haven't seen anyone in here address this yet, so I'll take a stab.

Thank you!

1) The fact that there are several proof of work hashing algorithms, and
2) A thing called deep reorg protection

The first one is perhaps easier to understand. When two chains use different hashing algorithms, the ability to 51% attack each other becomes greatly reduced. It would be like using a calculator only capable of performing addition operations to perform a division operation. Possible? Technically yes, but very inefficient.

I did not mean to turn one coin against another. I don't even think that's possible. I meant that it is impossible to secure all PoW coins from outside attacks where hash power is rented (e.g from NiceHash). All PoW hashing algorithms still rely on more or less the same hardware: GPUs and ASICs.

As an example, Let's say that 80% of this hardware is used for mining, and 20% is rented out through NiceHash. There are 100 PoW coins to secure.

Case 1: Mining resources are divided evenly, and each coin gets 0.8% of all available hash power. Rent 5% of rental hash power (1% total), and any coin can be 51% attacked.

Case 2: Mining resources are divided in favor of the most used coins. The most used coins are now much more secure than in option 1, but the less used coins are not secure at all.

In either case, the less used PoW coins are insecure. Different hashing algorithms do very little to these coins.

Now in the event that a chain does fork without changing the hashing algorithm, they can still implement deep reorg protection. For example, bitcoin cash (BCH) shares the same hashing algorithm (and genesis block) as bitcoin, but because BCH added reorg protection, the longest you'd need to wait for your coins to be fully secure would be 10 blocks.

Thus, it is possible to have several PoW chains. The best way would be to use different hashing algorithms, but it's not the only way.

Yes, automatic checkpointing is one solution, but it introduces new, serious, attack vectors. As an example, automatic checkpointing can be exploited to create a hardfork on the chain. To prevent this, a central authority is needed. Which defeats much of the purpose of PoW.

As I see it, there are very few solutions where the blockchain remains decentralized, trustless, transparent, and permisionless.

 

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[devidel]

Bitcoin is still growing strong and I hope, it will break the $45K resistance and then it may cross $50K

 

[Timmy C]

These videos are the best LMAO.

https://twitter.com/i/web/status/1361491532235309056

View: https://twitter.com/APompliano/status/1361491532235309056