Bitcoin / Cryptocurrency Discussion (And Predictions)

[csalvato]

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?

There's actually a very very solid bull case for Doge over the next 5-10 years.

I can see Doge being very relevant as the "fast coin" over the next 10 years, because of how strong the community is, among several other factors.

That said, I don't have a position in it. I don't plan to open one for a while.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Kevin88660]

There's actually a very very solid bull case for Doge over the next 5-10 years.

I can see Doge being very relevant as the "fast coin" over the next 10 years, because of how strong the community is, among several other factors.

That said, I don't have a position in it. I don't plan to open one for a while.

I think BTC dominance is a little bit like the white elephant in the crypto world. It has the most brand recognition among whales and institutional players but once people realize that btc is no different from other coins except having the strongest community the perception can change.

If community is everything then the supremacy of btc is not unchangeable. Yahoo was the default search engine of choice too. Nokia was the most popular phone for many years.

The whole thing about btc being an institutional investment is a like an irony. BTC was a libertarian tech project started to be mean as something outside of the centralized managed system for the common man. With early retail investors taking profit and institutional players pushing it for higher price we could have an interesting question. What is the value of a community token when it is only held by mncs and hedge funds? A community token without her community? Just a string of codes perhaps?

 

[Timmy C]

Every on-chain metric shows we’re nowhere near the top.
Every macro driver is pointing towards bitcoin.
It’s got plenty of juice left.

 

[csalvato]

I think BTC dominance is a little bit like the white elephant in the crypto world. It has the most brand recognition among whales and institutional players but once people realize that btc is no different from other coins except having the strongest community the perception can change.

If community is everything then the supremacy of btc is not unchangeable. Yahoo was the default search engine of choice too. Nokia was the most popular phone for many years.

The whole thing about btc being an institutional investment is a like an irony. BTC was a libertarian tech project started to be mean as something outside of the centralized managed system for the common man. With early retail investors taking profit and institutional players pushing it for higher price we could have an interesting question. What is the value of a community token when it is only held by mncs and hedge funds? A community token without her community? Just a string of codes perhaps?

BTC’s value prop is simply different to that of the “fast coins” like doge, BCH and LTC.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[James Fake]

Keep an eye out; accordingly to my "treasure map" prediction that its been tracking eerily similar:

Bitcoin will be popping to $60,000 here within the next 24-36 hours.

 

[James Fake]

James Trades

Short-Mid Term:
1. Pull profit on some of these Uranium stocks (DNN, UUUU, UEC, URG, UAMY). Keeping the calls. Buy SPY Call and sell at SP 3950 later today.

2. Move into Bitcoin related stock calls: MARA, RIOT, CAN and sell sometime tomorrow when Bitcoin rips to $60,000

3. Sell the Bitcoin stock calls and move them back 50% into Uranium stocks and Pot Stocks (SNDL, XXII, Tilray, Green Thumb, and a handful of other strong OTC penny pot stocks based in the United States).

4. Buy these Biotech Pharma stocks: ASRT, SYN, ADXS, ONTX

4. May continue to swing trade in and out of these various stocks while the S&P should be dipping down to touch the 4hr 20 day simple moving average sometime later this week (or I'm thinking Monday of next week) and rebuy in on the second dip touch for the long haul to end of May.

 

[James Fake]

I got a S&P dip to touch 3900 around the morning of the 18th to end of day 19th.

Today likely finishes a flat red daily candle S&P, followed by a nice size green candle for tomorrow to touch 4000. Followed by the 3900 retouch dip I am suspecting.

If you're waiting for a dip; that's likely the last one you will get until this whole equities market goes flying up....

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Mr. Tycoon]

I didn't spot that Verge bit, oops! (We've had that debunked here already). I mainly read the ADA, XRP and TRX segments, because I've had those at some point or another. (Not interested at all in Verge myself).

There is a lot of "hope" baked into the market that's for sure!

Bitcoin - hope it will keep going up (same for everything really), hope that fees will be reduced, and hope that something else won't overtake it.

Ethereum - Hope the scaling issues will be solved.

Ripple - Hope that banks will actually use it.

Bitcoin Cash - Hope it will overtake Bitcoin.

Cardano - Hope it will actually launch.

NEM - Haven't looked into this one too much, hope it gets more widespread adoption perhaps?

Litecoin - Hope it will overtake Bitcoin like BCH?

Stellar - Hope it will overtake Ripple? - Not entirely relevant anymore since the platform has other uses.

IOTA - Hope that they fix the cryptography problem.

Tron - Hope that they actually launch something, they've not even put out a roadmap yet.

That's just the top 10, but I'm probably being a bit too FUDdy there.

LOL- relax and be optimistic just a bit

 

[OverByte]

I'd like to put in a stop loss order just to protect some profits in the event things turn bearish so i don't have to keep frequently checking prices. However, I'm a bit concerned about posting a stop and having it trigger in a flash crash. I know I can trigger a limit order instead of a market order when the stop is hit but I'm wondering if that really protects me?

What are thoughts from more experienced investors here? I've seen a few mentions in the thread of people putting up stops. Are you worried about a flash crash and if so how do you setup your stops/limits?

 

[Hai]

I'd like to put in a stop loss order just to protect some profits in the event things turn bearish so i don't have to keep frequently checking prices. However, I'm a bit concerned about posting a stop and having it trigger in a flash crash. I know I can trigger a limit order instead of a market order when the stop is hit but I'm wondering if that really protects me?

What are thoughts from more experienced investors here? I've seen a few mentions in the thread of people putting up stops. Are you worried about a flash crash and if so how do you setup your stops/limits?

A "flash crash" has considerable preparation beforehand from big players. Usually this doesn't "just happen".
You are fine to set stop below lows that you deem important/that invalidate your setup, and market orders are better and most essential for stop losses imo. You run the risk of limit orders not hitting and this increasing your risk unneccessarily.

If you play extremely high timeframes you could use mental stops.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Deleted78083]

There's actually a very very solid bull case for Doge over the next 5-10 years.

I can see Doge being very relevant as the "fast coin" over the next 10 years, because of how strong the community is, among several other factors.

That said, I don't have a position in it. I don't plan to open one for a while.

If we use basic economics, part of the strength of a currency is its number of users.

A big user base of dogecoin is therefore a first argument for a bull run.

May i ask why you do not plan on opening a position?

Also I read there is no cap as to the number of dogecoin that can be mined.

I can't decide whether it is a good thing or not.

 

[OverByte]

and market orders are better and most essential for stop losses imo. You run the risk of limit orders not hitting and this increasing your risk unneccessarily.

Thanks for the response. There seems to be conflicting opinions on this. What I've read is that limits are important as market orders could cause you to sell for an extremely low price (again in the event of a flash crash) whereas if you set a limit (with some reasonable delta from the stop trigger) you would expect to be able to sell in the event of a more normal crash (and if a flash crash occurs, having the limit could protect you). I think that logically makes sense. I also understand what you are saying though (I believe the delta between the limit and stop is intended to address this - but obviously something unintended could happen). Seems like both approaches have risk. Interested to hear more opinions.

 

[Hai]

Thanks for the response. There seems to be conflicting opinions on this. What I've read is that limits are important as market orders could cause you to sell for an extremely low price (again in the event of a flash crash) whereas if you set a limit (with some reasonable delta from the stop trigger) you would expect to be able to sell in the event of a more normal crash (and if a flash crash occurs, having the limit could protect you). I think that logically makes sense. I also understand what you are saying though (I believe the delta between the limit and stop is intended to address this - but obviously something unintended could happen). Seems like both approaches have risk. Interested to hear more opinions.

Sure. Imo you should be fine if the exchange provides enough liquidity/volume.
Not sure how the liquidity was for ETH on GDAX back then.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[csalvato]

Wow: 19% Of UK Private Jet Company Sales From Bitcoin - Simple Flying

But you can’t buy anything with it, right?

 

[Timmy C]

Wow: 19% Of UK Private Jet Company Sales From Bitcoin - Simple Flying

But you can’t buy anything with it.

You definitely can't.

The governments will ban it for sure, and that has 100% worked in the countries they have banned it in also.

The ban is more likely now as companies are adding it to their balance sheet.

 

[devidel]

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

The resistance was broken, and crossed Bitcoin crossed USD 50,000.
Next target is USD 60,000 mark.
Altcoins may have short term bearish trend, invest with caution.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Frinys]

Also I read there is no cap as to the number of dogecoin that can be mined.

I can't decide whether it is a good thing or not.

It really depends on the use case. Inflationary assets encourage spending, while deflationary assets encourage saving. Dogecoin falls under the group of inflationary crypto assets. Bitcoin, on the other hand, is deflationary.

Inflationary assets are preferred as currencies. One USD was worth more 20 years ago than it is today. Therefore, it's better to spend one USD now than to wait 20 years before spending it. This encourages spending, which increases the money flow in the society. More money spent is more money earned, and more money earned is more money to spend. It's a positive cycle that encourages innovation.

Deflationary assets do the opposite. One nugget of gold is worth more today than it was 20 years ago. Therefore, it's better to keep the nugget. No nuggets spent is no nuggets earned, and no nuggets earned is no more nuggets to spend. It's a negative cycle where spending is discouraged.

Dogecoin is more suitable as a currency than bitcoin since dogecoin is inflationary. Which I'd say is a very good thing if one hopes that dogecoin will be the currency of tomorrow. But as a store of value, not so much.

 

[mguerra]

It really depends on the use case. Inflationary assets encourage spending, while deflationary assets encourage saving. Dogecoin falls under the group of inflationary crypto assets. Bitcoin, on the other hand, is deflationary.

Inflationary assets are preferred as currencies. One USD was worth more 20 years ago than it is today. Therefore, it's better to spend one USD now than to wait 20 years before spending it. This encourages spending, which increases the money flow in the society. More money spent is more money earned, and more money earned is more money to spend. It's a positive cycle that encourages innovation.

Deflationary assets do the opposite. One nugget of gold is worth more today than it was 20 years ago. Therefore, it's better to keep the nugget. No nuggets spent is no nuggets earned, and no nuggets earned is no more nuggets to spend. It's a negative cycle where spending is discouraged.

Dogecoin is more suitable as a currency than bitcoin since dogecoin is inflationary. Which I'd say is a very good thing if one hopes that dogecoin will be the currency of tomorrow. But as a store of value, not so much.

Thanks for the explanation man.

Imagine a future where we store our assets in BTC and do transactions with DOGE.

Crazy times...

(Is it nuts to think it's possible?)

 

[Timmy C]

No way doge is valuable lol.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Timmy C]

Probably nothing

 

[csalvato]

If we use basic economics, part of the strength of a currency is its number of users.

A big user base of dogecoin is therefore a first argument for a bull run.

May i ask why you do not plan on opening a position?

Also I read there is no cap as to the number of dogecoin that can be mined.

I can't decide whether it is a good thing or not.

I am not opening a position because I feel that, in this moment, Doge is overvalued. I also think it has a significant risk of a 51% attack at current mining volumes. Just a gut feeling/intuition, though.

Doge has a few things going for it, similar to other "fast coins":

1. Transaction speed is fast (~1 min)
2. The coin is designed to be cheap (high supply + inflation), so it's more accessible.

What Doge has that other fast coins do not:

1. Stronger community and network. In currency, like you say, network effect is very important. We learned this in 2017 when so many other coins had better technology, but ETH and BTC won easily over the long term because of their network effect and community.
2. The richest man in the world is legitimately promoting it. That goes a long way to build on the community in #1.
3. The coin is inflationary (vs. LTC and BCH, for example, which are deflationary). Having a truly limited supply over the long term could be terrible for liquidity. Even if 100% of doge are lost this year in unclaimed wallets, there will be 5B more new coins added to the supply next year.
4. The inflation is very controlled, and goes down over time. Doge adds 5B new coins every year. At the current supply, that's 4% inflation. Next year, it's 3.8%. In 10 years, it's 3%. In 100 years it's 0.8%. Having inflation is a great thing for a currency, because it mitigates the risk of a frozen supply, and thus ensures liquidity over the long-haul.
5. Unlike other fast coins (like XRP, XLM), the supply isn't controlled by a centralized entity/source.

IMO, the fact that Doge has the strongest community and network is the most important factor here, as you mentioned earlier.

No way doge is valuable lol.

I thought so too, until I dug a bit deeper and took a good look at it without the bias that it was created as a joke.

 

[maverick]

I am not opening a position because I feel that, in this moment, Doge is overvalued. I also think it has a significant risk of a 51% attack at current mining volumes. Just a gut feeling/intuition, though.

Doge has a few things going for it, similar to other "fast coins":

1. Transaction speed is fast (~1 min)
2. The coin is designed to be cheap (high supply + inflation), so it's more accessible.

What Doge has that other fast coins do not:

1. Stronger community and network. In currency, like you say, network effect is very important. We learned this in 2017 when so many other coins had better technology, but ETH and BTC won easily over the long term because of their network effect and community.
2. The richest man in the world is legitimately promoting it. That goes a long way to build on the community in #1.
3. The coin is inflationary (vs. LTC and BCH, for example, which are deflationary). Having a truly limited supply over the long term could be terrible for liquidity. Even if 100% of doge are lost this year in unclaimed wallets, there will be 5B more new coins added to the supply next year.
4. The inflation is very controlled, and goes down over time. Doge adds 5B new coins every year. At the current supply, that's 4% inflation. Next year, it's 3.8%. In 10 years, it's 3%. In 100 years it's 0.8%. Having inflation is a great thing for a currency, because it mitigates the risk of a frozen supply, and thus ensures liquidity over the long-haul.

IMO, the fact that Doge has the strongest community and network is the most important factor here, as you mentioned earlier.



I thought so too, until I dug a bit deeper and took a good look at it without the bias that it was created as a joke.

Created by a software engineer from IBM and a software engineer from Adobe. I'll pass.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[nitrousflame]

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.

I might have misinterpreted your original post, thinking that you were claiming that multiple PoW coins cannot operate securely simultaneously.

That said, I do think it's important to differentiate GPUs and CPUs from ASICs since ASICs are specific (the S in ASIC) to a particular hashing algorithm. For instance, Bitcoin ASICs aren't very useful for mining non SHA-256 coins, e.g. Litecoin.

Lastly, I think you absolutely have a point about taking the amount of available hashing power for any particular coin/algorithm into consideration when evaluating a given coin's security. But like many things, security is on a spectrum and not binary.

4. The inflation is very controlled, and goes down over time. Doge adds 5B new coins every year. At the current supply, that's 4% inflation. Next year, it's 3.8%. In 10 years, it's 3%. In 100 years it's 0.8%. Having inflation is a great thing for a currency, because it mitigates the risk of a frozen supply, and thus ensures liquidity over the long-haul.

This is worth repeating on its own. So many people see any inflation as a boogey man, when in reality, it's unpredictable and/or unbridled inflation that is the real concern. Even everyone's favorite "deflationary" shiny object, gold, has inflation. And that's not even considering future prospects such as asteroid mining.

 

[csalvato]

This is worth repeating on its own. So many people see any inflation as a boogey man, when in reality, it's unpredictable and/or unbridled inflation that is the real concern. Even everyone's favorite "deflationary" shiny object, gold, has inflation. And that's not even considering future prospects such as asteroid mining.

To simplify it:

Deflation is great for a savings account.

Inflation is great for a checking account.

Having one currency that's only deflationary isn't practical, imo.

 

[nitrousflame]

Inflation is also great for paying off debts, provided you're close enough to the money to benefit from the Cantillon effect. I sure hope central banks don't find out about this, or things might get out of hand.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[csalvato]

Inflation is also great for paying off debts, provided you're close enough to the money to benefit from the Cantillon effect. I sure hope central banks don't find out about this, or things might get out of hand.

Hold deflationary assets in debt taken out in an inflationary asset.

 

[Timmy C]

Shitting myself!

Can you imagine if the government bans it?

Probably nothing.

 

[Kasimir]

Shitting myself!

Can you imagine if the government bans it?

Probably nothing.View attachment 36859

I can't imagine that. Maybe in Nigeria but in Europe? I'm not sure if it's even possible.
But funny to be back in this thread, I was last active in November/December, so it's funny to read our comments. We were pretty good I have to say. So thanks to every comment that pushed me to invest more in crypto.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[MTF]

Switzerland's 'Crypto Valley' Has Started Accepting Bitcoin, Ether for Tax Payments

Local firm Bitcoin Suisse has partnered with the canton of Zug, converting cryptocurrency tax payments into Swiss francs.

www.coindesk.com

 

[csalvato]

Switzerland's 'Crypto Valley' Has Started Accepting Bitcoin, Ether for Tax Payments

Local firm Bitcoin Suisse has partnered with the canton of Zug, converting cryptocurrency tax payments into Swiss francs.

www.coindesk.com

Are you officially a BTC convert now?