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Bitcoin / Cryptocurrency Discussion (And Predictions)

AceVentures

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For those that think high ETH gas fees means the death of ETH, here's another perspective: when people are paying out their a$$ to use your service, it says something about the value that service delivers.

Also, there are already layer 2 solutions that drastically reduce fees and increase transaction speeds (up to 9000tps on some apps) via Zero-Knowledge Proof rollups. You don't need to run to CZ and hire them as your new bank, you just get more creative within the sandbox you're in, which is what people are doing... And that's just for now until 2.0 rolls out.

If there's one thing I've learned it's that the technical details/merits of a technology are NOT what drive it's growth. That's all just a marketing narrative.

What really matters above all else is community and the growth of the network. NFTs, Crypto-Gaming, DeFi, and everything else shiny you hear about runs on ETH - get ready to hear more about ETH this year.
 
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Timmy C

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For those that think high ETH gas fees means the death of ETH, here's another perspective: when people are paying out their a$$ to use your service, it says something about the value that service delivers.

Also, there are already layer 2 solutions that drastically reduce fees and increase transaction speeds (up to 9000tps on some apps) via Zero-Knowledge Proof rollups. You don't need to run to CZ and hire them as your new bank, you just get more creative within the sandbox you're in, which is what people are doing... And that's just for now until 2.0 rolls out.

If there's one thing I've learned it's that the technical details/merits of a technology are NOT what drive it's growth. That's all just a marketing narrative.

What really matters above all else is community and the growth of the network. NFTs, Crypto-Gaming, DeFi, and everything else shiny you hear about runs on ETH - get ready to hear more about ETH this year.


I don't think that.

I just plan on selling some of it before this run is over as it's a higher risk holding.
 

Timmy C

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So if every company buys a bunch of bitcoin.
Do you think maybe, just MAYBE. All of their employees will get paid in Bitcoin as well in time?
Nah, no way, probably nothing.
 
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nitrousflame

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Awesome, thank you for all the recommendations. I notice you follow Richard Werner, princes of the yen is a great watch on youtube.
I don't think I've seen that, but seems like something I'd be into. Will check it out. :thumbsup:

Then Ethereum moons. Ethereum is very slow, so there is that risk that you can't sell when you want to as sending it from cold storage could take to long.
Would you mind elaborating on this? Ethereum is very slow relative to what?

Also, there are already layer 2 solutions that drastically reduce fees and increase transaction speeds (up to 9000tps on some apps) via Zero-Knowledge Proof rollups. You don't need to run to CZ and hire them as your new bank, you just get more creative within the sandbox you're in, which is what people are doing... And that's just for now until 2.0 rolls out.
Great points. I think in the short term, we may continue seeing the "ETH killer" L1's pump, but on the longer term, the enormous gravity of ETH2 will suck everyone back in.
 

Timmy C

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I don't think I've seen that, but seems like something I'd be into. Will check it out. :thumbsup:


Would you mind elaborating on this? Ethereum is very slow relative to what?


Great points. I think in the short term, we may continue seeing the "ETH killer" L1's pump, but on the longer term, the enormous gravity of ETH2 will suck everyone back in.


Yeh sure.

The network is congested as most of the altcoins are built on ETH. ETH is slow and is having scaling issues.

To boot, sending Ethereum is expensive, many people are locked out as they have to pay 100 - 200 dollars just to send tokens.

Spending $500 to invest in ETH isn't that smart.
 

Bekit

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So if every company buys a bunch of bitcoin.
Do you think maybe, just MAYBE. All of their employees will get paid in Bitcoin as well in time?
Nah, no way, probably nothing.
I got paid in bitcoin for the first time last month (for freelance copywriting). I'm about to get a second payment in BTC next week. It felt really good.

The client was in another country and mentioned that it was an expensive hassle to wire funds. I said, "I mean, you could pay me in bitcoin if you want."

Their eyes lit up. "Really?"

"Absolutely, here's my address."

So amazing.
 
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Timmy C

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I got paid in bitcoin for the first time last month (for freelance copywriting). I'm about to get a second payment in BTC next week. It felt really good.

The client was in another country and mentioned that it was an expensive hassle to wire funds. I said, "I mean, you could pay me in bitcoin if you want."

Their eyes lit up. "Really?"

"Absolutely, here's my address."

So amazing.
Probably nothing.

Wouldn't using gold have been more efficient?
 

Sethamus

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I wouldn’t be to worried about gas expenses because imo exchange between the average retail consumer will not start with small payments. It will be in the form of business transactions and larger assets like real estate. Current fees are easily $1000 for legal paperwork so a real solution to a digitized hard asset sale could possibly be break even as we speak, and cheaper as we go.
After the bull market I’ll probably focus more on Eth and eth supported tokens as the real world uses are there. How Blockchain Technology is Changing Real Estate

ex. ATLANT World's Real Estate Blockchain Platform
 

Romko

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Hello. I am a web developer and a couple of days ago I got paid for my work in bitcoins. Wonderful feeling.
 

Kevin88660

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I would speculate to be a different use case. More of emulation than competition.

If I am in South America or Africa where hyperinflation and expensive cross border payment is an issue , my best option previously was cryptocurrency of choice. Now I rather hold digital dollar. The local government cannot impose capital control on it.

If I am a cryptocurrency speculator living in developed countries (this is where the big market is) I still hold busd or usdt for use as they are accepted as medium of exchange in speculation. I will invest in non-stable coins for appreciation. stable coins like busd and usdt have value because they facilitate the speculation of non-stable coins. Digital dollars have no special value proposition here.

Digital dollars are still fiat and need to be handled by a fiat gateway in the crypto-space.
 
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Frinys

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Anyone here looking at Stacks? My understanding is it makes BTC like ETH. Some people I follow are making a lot of noise about it right now.

View: https://www.youtube.com/watch?v=uSk8t4D2q3w

Yep. I find their Proof-of-Transaction (PoX) security inheriting protocol very interesting.

I definitely think that security inheriting protocols are the future for most blockchains. Only the biggest chains can be secured with Proof of Work. Therefore, it makes much more sense to inherit the biggest chain's (Bitcoin's) security than to compete with it.

10 years from now, the lesser blockchains will have these two choices:
  1. Use a security inheriting consensus protocol as the primary consensus mechanism, like Stack's Proof-of-Transaction, and its predecessor Proof-of-Burn.
  2. Use PoW, PoS, or PoXYZ as the primary consensus mechanism, and use a secondary consensus protocol to inherit Bitcoin's security like VeriBlock's Proof-of-Proof or the Omni Layer does.
Security inheriting cryptos, like Stacks and VeriBlock, are highly undervalued.
 

Timmy C

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Yep. I find their Proof-of-Transaction (PoX) security inheriting protocol very interesting.

I definitely think that security inheriting protocols are the future for most blockchains. Only the biggest chains can be secured with Proof of Work. Therefore, it makes much more sense to inherit the biggest chain's (Bitcoin's) security than to compete with it.

10 years from now, the lesser blockchains will have these two choices:
  1. Use a security inheriting consensus protocol as the primary consensus mechanism, like Stack's Proof-of-Transaction, and its predecessor Proof-of-Burn.
  2. Use PoW, PoS, or PoXYZ as the primary consensus mechanism, and use a secondary consensus protocol to inherit Bitcoin's security like VeriBlock's Proof-of-Proof or the Omni Layer does.
Security inheriting cryptos, like Stacks and VeriBlock, are highly undervalued.
Won't be surprised to see STX in the top 10 once it gets more exchange liquidity.
 
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James Fake

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FEAR. Everybody is fear locked. Fear paralysis. Waiting.... until it feels better. (aka missing the entry and buying in at a point that gets retested multiple times aka strong shake out points)..

The time to buy is now. The Fear is at maximum level.

The last thing most people are going to do today is:... Buy Stocks and Buy Bitcoin. It's the absolute last thing they will do today.

When the market pumps out 15%; guess what headlines you'll see? Cathie Woods bought more Tesla, ROKU, etc. again. SQ and Microstrategy and Greyscale bought $Bs of more Bitcoin.

By the time you hear this; you missed the ideal entry because you were fear-locked.

"Buy when others are fearful" = Easy to say. Extremely hard to do. Extremely. This is what makes the top 1% better than the rest of the field; their mental strength. The ability to disconnect emotions to outcomes, and whatever is necessary to get to the Finish Line the fastest, the best.

If any DD is done on bond rates, etc.; then you'll know why Bitcoin is at discount right now with a huge market fundamental confirmation.
 

mguerra

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FEAR. Everybody is fear locked. Fear paralysis. Waiting.... until it feels better. (aka missing the entry and buying in at a point that gets retested multiple times aka strong shake out points)..

The time to buy is now. The Fear is at maximum level.

The last thing most people are going to do today is:... Buy Stocks and Buy Bitcoin. It's the absolute last thing they will do today.

When the market pumps out 15%; guess what headlines you'll see? Cathie Woods bought more Tesla, ROKU, etc. again. SQ and Microstrategy and Greyscale bought $Bs of more Bitcoin.

By the time you hear this; you missed the ideal entry because you were fear-locked.

"Buy when others are fearful" = Easy to say. Extremely hard to do. Extremely. This is what makes the top 1% better than the rest of the field; their mental strength. The ability to disconnect emotions to outcomes, and whatever is necessary to get to the Finish Line the fastest, the best.

If any DD is done on bond rates, etc.; then you'll know why Bitcoin is at discount right now with a huge market fundamental confirmation.
Do you think we're going upwards from here or we'll retest 40k this weekend?

I had one of the worst nights of my life being leveraged while this dump occured last night. Almost shitted myself, lol :rofl:

Hopefully this is over and we'll not even visit 44k anymore...
 

nitrousflame

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Do you think we're going upwards from here or we'll retest 40k this weekend?
I know you didn't ask me, but I think it would be very wise to expect/plan for at least one or more big pullback in the range of 30%+ before we put the cycle top in. It may not be now, and it may not be $40k, but it's certainly within the cards and something you should be prepared for, in my opinion.
 
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EvanOkanagan

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Not sure if the USA has anything like this, but an ETF just launched in Canada to utilize registered funds. I just invested a bunch of TFSA money buying the Purpose Bitcoin ETF.

B4EAD098-CFCE-4116-BE14-72BA587A7CC6.jpeg
 

mguerra

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I know you didn't ask me, but I think it would be very wise to expect/plan for at least one or more big pullback in the range of 30%+ before we put the cycle top in. It may not be now, and it may not be $40k, but it's certainly within the cards and something you should be prepared for, in my opinion.

Thanks for your answer brother. I didn't asked directly to you but it's really welcome and appreciated. :)

As of the correction, it's all pointing to 40k levels - really. I realized it's not worth the risk to go through weekend leveraged in this current conditions.

Thanks for wisening and saving my a$$.
 

nitrousflame

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Thanks for your answer brother. I didn't asked directly to you but it's really welcome and appreciated. :)

As of the correction, it's all pointing to 40k levels - really. I realized it's not worth the risk to go through weekend leveraged in this current conditions.

Thanks for wisening and saving my a$$.
Now that you did this, it will almost certainly skip $40k and go straight up from here instead. :rofl:
 

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