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Bitcoin / Cryptocurrency Discussion (And Predictions)

Ing

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I imposed myself a small budget to get comfortable with cryptos. So since a month I buy, change cryptos and in that time with many orders my budget didn’t get more and not less. So I made no big mistake I think.
I ll keep that budget small, untill I can see a long consolidation .

Now I have a prediction for the near future: ETH will slowly go down to 1000 and will than climb again to about 2700, before it goes down at a consolidation at 500-1000 for the winter.

Now if my prediction part one (1000) comes true, I will stock up my budget a bit.

Only my 2cts
 
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Frinys

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The most important, hard-earned, lesson I learned yesterday:

ALWAYS have some USDT handy off the market to capitalize in huge dips like these.

If I had a bigger % of my portfolio in USD I could have made more gains in one day than I made in the past 3 months.

My mindset has shifted and my crypto game has been really upgraded.

How innocent I was being...
This is extremely hard to pull off. I know that if I had USDT handy, I would have spent it when BTC went from 57K to 49K some days ago.
 

Sethamus

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Not sure 100% this is how it will play out but something is coming. Could it lead to a crypto breakout or crash is the question. Watch the first 7 minutes of this video for a “possible” price prediction and the correlation of the equity market and crypto(how a correction happened 1 month after 2018 crypto crash) which means that it still could be connected more than we think in this thread. Guy predicted 30k drop 5 days ago, this is his update.

Long term I agree with what your friend shared, btc and Eth will be king and the game for the next 6 months to a year is about coin accumulation, not fiat value. This has gotten me to where I look for chances to take gains temporarily in usdt or maybe even paxg in some small bounces up using stop losses and then accumulate on the dips. In 1 year from now I want to have many many more coins for the hodl.

So where does that leave me today? I have been buying as low as possible, still leaving a little cash always incase I miss a lower low and we are full bear so I can dca (dollar cost average). I had orders fill at 43k, and 54k so I bought at 35k bringing my average buy price down. This allows me to get out at a lower break even or even profit a little more. I will probably sell a decent amount in the next pump up if I break into profit and still expect a deeper dive coming. Then play the game up and down until it either breaks out up into a bull or down to possibly 20k like he mentioned in the video. All in all if I get out without a loss where I can buy even more coins at 20k than I had then I will be happy.
 

Hai

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I agree with that guy.
If you look at the charts, GME goes down when Crypto goes up, and GME goes up, when Crypto goes down.
This theory would explain why that happens.
I believe GME will hit 2-8k in the future. The charts just look too good.

I have also been forming theories around the flow of money from the legacy system to the new system:

We live in a world, where young people are working ineffectively on a job, because the older generation is just hoarding their wealth, unable to innovate towards the needs of the current world, creating inefficient companies with little profit margin and therefore low wages, which also creates a downward spiral of unsustainable destruction.
As long as wealth lies in the hands of the older generation, no big innovations can be made. This creates an economy where the potential of young people is wasted, because they are forced to work meaningless jobs. Their potential to innovate new solutions is wasted.
There needs to be a wealth transfer towards young people, creating the new rich. They will have the means and freedom to realize the visions of the future. This generational wealth transfer will create a new set of young smart entrepreneurs who will build the new future based on new values. These new values will reform poverty/unemployment, sustainability, mental health, and any other catastrophic risks.
 

mguerra

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Your right man.
I've been spending to much time checking crypto.

Need to cut back a bit.

Mate, I can relate to you, but as far as I know, that was a HELL OF AN OPPORTUNITY to make huge (and insanely easy) profits that we were presented with.

So, in my mind it made a lot of sense to immerse myself in this universe for 2-3 months to learn the max I could and increase my gains as much as possible.

Heck, I even decided to pause 2 projects I was still initiating because of that time-sensitive opportunity to directly and almost instantly add big $$ to my bottom line.

My reasoning was:

We create business as a means to add profit to our lives in the end, right?

If so, crypto offered (and is still offering) a AMAZING opportunity to skip the "business" part and DIRECTLY transfer those profits to you - without (almost) nobody even knowing or having to give you permission to.

Obviously, this advantage is downsided with the lost of control and increase of risk. But the trade-off is perfectly fine and, pressuposing the person is doing his research and taking intelligent, rational decisions, it's an assymetrical bet, in my view.

Let me be clear: is a HUGE mistake to drop everything in your life and obssess about this. I don't even need to say that is a deadly mistake to sell your car/house or put money that you cannot afford to lose.

Also is a huge mistake to evolve an OCD and check crypto prices every minute (been there).

But, If you are somewhat secure, have your business/career going on, then it makes PERFECTLY sense to devote large chunks of time to experience, study and learn about crypto.

Not only about the investment perspective but us, as entrepreneurs, could create RIVERS of value in this blockchain industry If we engage in it looking for opportunities in the years ahead.

The way I view it is similar to the lazy vs smart entrepreneur examples that MJ uses in his book.

One guy gets home after work and drinks beer, eats doritos and escape reality watching TV.

The other gets home and uses his free time to study and learn about innovative technologies.

Which one we want to be?

The answer is obvious, and as we can see in this thread there are lots of super smart dudes here that are DEVOURING information and learning about all the transformation and innovations that are happening right now - at godspeed.

And the best part is:

The ONLY barrier in paradigm shifts like the one we are living is how much time and effort you invest to learn about, spot and act on opportunities.

Speaking for myself, the payoff of the time I invested learning, earning (money, experience and awareness) and being burned in this market has been INVALUABLE to me.

About 6 months ago I was a complete NOOB about economy, finances, how the world really operates, and similar affairs.

Now I can say I gained a LOT of wisdom about the economy and financial markets, about the power games being played worldwide, about the trading world, about the fear-greed dynamics applied to the markets, about our most basic and innate instincts and how our emotions impacts us on an individual and collective level - and how strong and visceral that impact can be - especially when you get hijacked by your own amygdala.

But the major gain In my opinion is a basic/intermediary knowledge about an industry that will offer a HUGE money pie that we all can have our share of, as entrepreneurs - while most people are caught in TikTok or some shit like that.

I don't even know why am I writing this anymore, as I'm now realizing that I am waaay distant than the original purpose of this reponse to your post, lol. :rofl:

Maybe I'm just throwing it out here to blow off some steam and clear my mind about what happened the last hours, while sharing it with you guys.

Anyhow, It's being good to write this so I'll publish anyways. Maybe I'll edit later.

Stay safe out there, brothers. Use your intelligence and risk management to direct your decision to the long term game.

We have a blessed decade full of opportunities ahead. From now on, not getting rekt is way more important that making crazy gains.
 
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dgr

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I'm coming late to the party, but coming at least! Lucky me that I couldn't invest yet the past week for not having liquidity :D

I've been learning as much as I could these past weeks, and I'm still figuring out how to execute certain things, but starting my crypto journey. Playing for the long-term, so no rush. But I guess that now it's a good moment.

What I would like to share is my main insight these past weeks. Not just related to crypto, but on spotting these opportunities (sorry if it's too off-topic):

I've been neglecting to learn about the crypto space for at least 3 years now. Shame on me.

Anyway, I was thinking about this and other trends or changes that I've missed in my life, even if I had the interest and the opportunities to explore, learn and take action on them.

But it was easier (or more comfortable) to just ignore them. Or see them only from a consumer perspective.

The last time I did that was with the pandemic. I didn't care about COVID from the start until a couple of days before the lockdown in my country. I knew almost nothing about it.

Still, I've been quite happy these years not consuming news, etc, and I've thrived during the pandemic (being extremely introverted and already working online helped, so no merit on that).

But my point is that at least I'm going to be more conscious about my rationalizations when I hear me saying something like "I don't care about this new thing/trend", and ask myself if I really don't care or I'm just too lazy to try to understand it and it's meaning or impact on the future.
 
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James Fake

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@James Fake whats going on here?

I figured I’d have a detailed, chart laden, analysis by now. He clearly saw this coming.
Likewise, just because basically everything James Fake said was nonsense, doesn’t make bitcoin nonsense either.

Haha! Right on point... I am well past my 10,000 hours of non-sensing which makes me Mastery level at it lol.
 

Sethamus

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Haha! Right on point... I am well past my 10,000 hours of non-sensing which makes me Mastery level at it lol.
Your mastery nonsense is always welcomed and appreciated.
 
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James Fake

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Hmm.... Going to try to condense lots of thoughts into digestible stuff.

I'm short term Bullish: Expecting a bounce due in the coming weeks as its quite oversold.

I'm mid-term (next 2 - 24 months) Bearish: I'm expecting yet another lower high when the bounce tops out and then sells off and forms another lower high.

Long Term: I am on the fence on Bitcoin, and ultra super bullish on BLOCKCHAIN. (Notice I did not say crypto-currency lol.) I am ultra bull'ish on the platforms and tech that will be brought upon in the coming 5-10 years by Blockchain and of course, coins associated with the varying tech will print out huge gains.

On the fence with Bitcoin long-term? Yeah... If I imagine myself as an Alien looking down on earth from 200,000 ft...

Why waste so much energy running something that will only get more wasteful when you can get the same exact result/utility (if not better) from many many different alternatives that is a way smaller fraction of waste?

(imagine if what we are seeing now is Napster and Limewire... and relying on dial up tech was the thing holding all of this back. Are you tired of Bitcoin being the ruler of all Alts? If Bitcoin can't sustain itself and therefore it's price falls, is that a fair representation of some life changing breakthrough tech, app, etc. that xxxx coin/company just did? When broadband tech got better and better and more available, cheaper.... eventually, you let go of that controlling 'Gate Keeper'.. I think this disconnection of Bitcoin being the gate keeper will eventually unfold... eventually lol)

Ironically; the reason why Homo Sapiens have advanced as a dominant being is because we solve the very same question above, we continually strive to create better, faster, more efficient in almost every aspect of life: tech, cars, energy, food, entertainment, phones, etc.. (hell, even our children, we always want our children to become better versions of ourselves).

This isn't 2015 or 2017 Bitcoin anymore; I believe we are approaching a crossroads where The "Store of Value" will begin to belong to The Asset That Indeed Has The Most Value Because It Gives The Most Value because..... blockchain is a functioning tech, not some pretty cosmetic stone or finite earth element, it has utility like a wifi router. (dun dunnn... Is this me calling for the great flippening to happen in the next or after next bull run?). I also believe that Bitcoin from this bull run will in hindsight prove one thing, that Bitcoin should not be used as a store of value like Gold nor an inflation hedge <there I said it @Kak lol>

(I'm a bit short on time, but I will eventually come and write much more about what was said above sooner than later. Probably in 2024 when crypto is boring and forgotten again and no one gives this thread any attention but 5 people lol *achem* 2019)

Some market Fundamentals on my mid-term (2 - 24 month) Bearish case:

1. The Fed will eventually ease back on QE. They will also eventually raise interest rates. Will it be by end of 2021, or in 2022? Don't know.. but it's an inevitable event to happen as we're clearly in the beginning of the Economic Expansion stage when looking at the Business Cycle chart. Smart money will continue to pull profit by profit as we approach closer and closer to this event; esp as the big guys have an even more incentive to beat the date of an incoming capital gains hike.

2. Retail Oprah "And you get money! and you get money!" money is fading out. Aka Stimulus. Aka Unemployment money. Aka PPP, EIDL, etc. etc. Imo, the growth of the stock market will start to return to "normal" growth rates vs. the steep trajectory of upness from this past year's V bounce.

3. Inflation. It was cool to talk about inflation when very few were talking about inflation. Like... ya know... months ago in the fall and winter last year (*achem* when Bitcoin was "cheap" and didn't blow up the ATH). Now.. EVERYONE is talking about inflation including the grocery store clerk's grandma. Ironically and usually for whatever reason, the masses end up wrong. (I do not know why this is a phenomenon). This is why I believe this spike in Inflation we are seeing is temporary and is related to mostly Supply Chain issues, and the people betting that Bitcoin is "Inflation Hedge" will see the bear winter. Demand has risen for stuff, yes, a little bit, but not nearly as much as Supply being constrained from a temporary pandemic: production, manufacturing, and transporting on a global scale. I think in most industries, if you really dig and dig, you'll see that Supply is the ultimate root issue.

I believe "Inflation" drove this event of Bitcoin's bull run, and now that everybody believes "Inflation will only get worse" when it won't (of course there will always be the slow steady increase inflation but not Spikes or Hyperinflation as everyone talks about with their buzzwords on Tik Tok) is going to drive it back down because once the laggards who bought in late realize that Inflation is actually going back down when Supply Chain issues resolve in the coming 3-8 months, it will be too late.

In short, Buy at the absolute lowest level of fear of inflation, and Sell at the peak of fear of Inflation. And... guess where we were or currently at?

Guess what's on everybody's mind now as June approaches? CPI? Who even knew what a Consumer Price Index was before all this and knew what branch of govt. even released these reports.

Eh.. I'm prob forgetting a bit but getting too long and my fingers hurt so I'll be back lol
 
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James Fake

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One more thing to add in.

I am looking 3-5 years down the road which is honestly kind of why I fell out of interest with what was/is going on crypto and the crypto market right now. (aka when super shitty coins start getting shilled by everyone and I can't even play golf with my non-business buds without getting shilled, then the crypto world is..... trash and needs reset becomes uninteresting in the present form.)

With that said... my focus is on:

ETH 2.0 versus Other Blockchain Platforms That Can Replace ETH.

ETH like Bitcoin did in 2017 is reaching the max of it's tech, it becomes inefficient and the better will always replace it. Unlike Bitcoin with a finite structure, ETH can be modified to adapt and to fix the scalability issues it is now facing since it reached this certain level of mass adoption, but if it doesn't solve these scalability issues in 2.0 (and/or gets surpassed by the development from alternatives), ETH will die as well. Long term.

So.... why am I looking at that focus? Because the most gains in the following bullrun will come from being able to identify which alternatives to ETH pose the greatest potential and buying a shitload while they are pennies on the dollar in 2024-2025 when crypto becomes boring and completely forgotten (aka 2019).

Of course, I also think that ETH (if it can do a decent job at fixing it's scalability issues of today) will sky rocket in the next bullrun ($20,000 lol) and I will own some of ETH in due time, but that 10-20-30x or whatever size gains when ETH eventually hits bottom of crypto winter will be nothing compared to the 2000x+ gains buying the $.01 costing coin that will have risen slowly to a few bucks by the time it's labeled the "ETH Killer" in a CNBC article mid-way in the middle of the 2027 (or whatever) bull run. (and then who knows what price before it peaks out).

Essentially; I'm saying.... if you play your cards right, you can make a F*ckin BILLION Dollars this decade lol.
 

Ocean Man

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Napster and Limewire... and relying on dial up tech was the thing holding all of this back.
Great analogy, James.

I agree with your two posts. It’s not about the coins. It’s ultimately about the Blockchain and the actual utility. Whether it’s ETH or some other one. It’s what can provide actual value and use.

Sure Bitcoin is expensive at the moment, but what can you actually do with it? Not much, honestly.

Bullish on the blockchain.
 

Timmy C

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Bull market not over, not that it being a bear market isn't a reason not to buy and hold anyway.
Leverage traders where liquidated that's all.
The institutional fund is doing testing on Aaave now and they launch in July/august.
When the big dogs miss the boat they have the power to bring it back in.
Bullish.
 
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Timmy C

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How about we ask the people on the forum in countries such as Nigeria what you think of Bitcoin and what it has done or helped with.

Common let's hear it. anything negative also.
 

Frinys

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The market did exactly what was needed this week. People got too euphoric with shitcoins like Shibu, SafeMoon, etc. As someone whose primary focus is on technology, I'm glad to see that shitcoins get less attention after the 40% crash. (I did not write a master's thesis about blockchain to watch Doge and Shibu be the winners.)

I do not think we're going to enter a bear market yet. Similar crashes happened in 2017, both in July, September, and November. I see no signs of this being any different. Interestingly enough, the crash in July happened almost exactly as many days after the 2016 halving as this one compared to the 2020 halving.

For those of you too lazy to do the math, i got you covered:
2016.07.09 (2016 halving) - 2017.06.16 (July crash 2017) = 372 days.
2020.05.11 (2020 halving) - 2021.05.19 (May crash) = 373 days.

It's suspiciously similar.

If you were around in 2017, you remember the FUD in July, the positive news right after, then a new round of FUD in September, a new round of positive news, and then a blowoff. I think we are going to experience a lot of positive blockchain news in the coming weeks.

This bull run started earlier and heavier than anticipated. Exactly why I don't know. I have three theories. The most obvious explanation (1) is that Tesla jumped on the wagon at the beginning of February (2021.02.08), causing a wave of hype that lasted until now. I see this as the most likely. The more tinfoil explanation (2) is that Bitcoin has been heavily manipulated in the last months by larger institutions, the graph may very well look like a Wyckoff distribution, supporting this theory. The most bullish explanation (3) is that we are at the beginning of a super-cycle. I would be surprised if this was the case, I don't think we'll see a supercycle before the real adoption begins. But I won't throw it off completely.

In other words, I definitely don't think that we're anywhere near an end of a bull market. The shitcoin show was taking too much attention from the royal coins, and if the shitshow had continued, I would suspect a premature blow-off. But that show should be over now, and we can continue the adoption of real blockchain use-cases. I think the safest place to be right now is with Bitcoin and Ethereum, the King and the Queen.

If I'm right, we will see $50K-$60K BTC again within a month or so, at least by the end of June. Then we will continue upwards toward 80$K in July and have a new correction somewhere in August. And then, after that, we will have the typical blowoff.

Guys, we're still in for a lot of fun before the next accumulation period.
 

Frinys

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Why waste so much energy running something that will only get more wasteful when you can get the same exact result/utility (if not better) from many many different alternatives that is a way smaller fraction of waste?
This is what makes Bitcoin so beautiful. It's the world's most secure system, the system can report a 100% uptime for the last 12 years, it has no off button, and its security can be inherited. Unlike staked coins, Bitcoin can continue forever without any governance, until we break cryptography.

The world definitely benefits from using a lot of energy on the Bitcoin system, even if the system uses more energy than the Netherlands or whatever. It's not a perfect system, but it's the most secure. I think the eco-impact talk going on right now is a temporary phase. Remember that most people don't understand Bitcoin at all yet. Something people don't understand that uses a lot of energy = bad. Something that secures their favorite payment method, in-game loot, or house token = good.

When people realize that Bitcoin is much more than some funny internet money, the eco-talk will fade away. That may be in 4 years or 10 years, but the fact is that Proof of Work provides decentralized security unseen by any other blockchain consensus protocol.
 
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D

Deleted78083

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This is why I believe this spike in Inflation we are seeing is temporary and is related to mostly Supply Chain
Not to brag, but i predicted this in December 2020 when everyone was repeating "pRiNtInG = iNfLaTiOn oMg" like followers of a culte.

I'm short term Bullish:

I'm mid-term (next 2 - 24 months) Bearish

Long Term: I am on the fence on Bitcoin,

I am looking 3-5 years down the road which is honestly kind of why I fell out of interest with what was/is going on cry

Man I read many of your posts and some of your predictions were correct. But I have a hard time understanding your way of thinking.

Some months ago you were like "BTC to 100k end of March/mid-May". Then BTC hits ATH, then drop, and you got out directly, saying we wouldn't see BTC at 100k on this bull run.

It took a minor correction to change your 8 weeks prediction. And now you're making 3-5 years predictions, and abandoned BTC to 100k to say that it is not efficient and will be replaced.

I don't know if i express myself well, but it feels like your 5 years predictions are made on daily news that will no longer be relevant next week, and will hence change your long-term predictions, so why bother even making them? Everything changes so fast in that space that it is nearly impossible to look past 4 weeks.

And 4 weeks is a lot.

I agree with you on the blockchain prediction, but that's nothing new. It's in fact quite old.
I think the eco-impact talk going on right now is a temporary phase.
It's a media spectacle to entertain the people and get them to keep on saving their 100 USD a month because "bLoOd CoIns".
 
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Ing

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One more thing to add in.

I am looking 3-5 years down the road which is honestly kind of why I fell out of interest with what was/is going on crypto and the crypto market right now. (aka when super shitty coins start getting shilled by everyone and I can't even play golf with my non-business buds without getting shilled, then the crypto world is..... trash and needs reset becomes uninteresting in the present form.)

With that said... my focus is on:

ETH 2.0 versus Other Blockchain Platforms That Can Replace ETH.

ETH like Bitcoin did in 2017 is reaching the max of it's tech, it becomes inefficient and the better will always replace it. Unlike Bitcoin with a finite structure, ETH can be modified to adapt and to fix the scalability issues it is now facing since it reached this certain level of mass adoption, but if it doesn't solve these scalability issues in 2.0 (and/or gets surpassed by the development from alternatives), ETH will die as well. Long term.

So.... why am I looking at that focus? Because the most gains in the following bullrun will come from being able to identify which alternatives to ETH pose the greatest potential and buying a shitload while they are pennies on the dollar in 2024-2025 when crypto becomes boring and completely forgotten (aka 2019).

Of course, I also think that ETH (if it can do a decent job at fixing it's scalability issues of today) will sky rocket in the next bullrun ($20,000 lol) and I will own some of ETH in due time, but that 10-20-30x or whatever size gains when ETH eventually hits bottom of crypto winter will be nothing compared to the 2000x+ gains buying the $.01 costing coin that will have risen slowly to a few bucks by the time it's labeled the "ETH Killer" in a CNBC article mid-way in the middle of the 2027 (or whatever) bull run. (and then who knows what price before it peaks out).

Essentially; I'm saying.... if you play your cards right, you can make a f*ckin BILLION Dollars this decade lol.
James, for me as not native English speaking your texts are hard to read : so much information.
I hope I ll be here in 2023. Hope you are her, too. ;)
I followed your advice on reading through the last year and my eyes are open. But I think I need some more hours and days to be able to make the right.
 

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Not sure if these have been shared before but thought I'd drop them here since I find Saylor's thoughts some of the most refined on crypto topics. Like Saylor, I'm in the BTC is a crypto "asset" vs a "currency" camp, I know there is disagreement on that here which is great as I think it's good to hear both sides. Saylor makes some interesting points about regulations and tax treatments effectively treating it as an asset and why this isn't a bad thing. This seems especially relevant given China's recent banning on use as a medium of exchange.

I'm guessing most people in this thread already know who he is but if not he's the CEO of Microstrategy (who converted their treasury and possibly helped convinced Musk to convert Tesla treasury to BTC). I think Microstrategy has $2B worth of BTC now.

The first one I watched and thought was one of the best discussions I've seen around the topic of BTC, ETH and how it compares to gold/stocks/fiat. The second I haven't finished yet but seemed valuable based on the 20 min or so I've gotten through thus far.

View: https://www.youtube.com/watch?v=XgqC5_eugJI


View: https://www.youtube.com/watch?v=zr_3F-zNM8g&t=1432s
 
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Sethamus

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Some months ago you were like "BTC to 100k end of March/mid-May". Then BTC hits ATH, then drop, and you got out directly, saying we wouldn't see BTC at 100k on this bull run.

It took a minor correction to change your 8 weeks prediction. And now you're making 3-5 years predictions, and abandoned BTC to 100k to say that it is not efficient and will be replaced.
Dude he is doing a lot of His own technical analysis and reading the charts how he sees it. Which honestly gives him a leg up over most of us whether he is right or wrong. He saw what he thought was the top like others in the market and called to get out. He was right at the moment, But could still be wrong in the short term. Everything I’m following right now and still trying to learn from, it is a mix 50-50 on what will happen. No one truly knows what the market will do except for the huge money players that can actually control the market.
Someone else posted this here and I will do so again, based on what I am seeing I doubt this is this cycle's top as well.

Top IndicatorView attachment 38085
I thought this was a great post when I saw it and have been following it. My only issue is that I believe some of the indicators may be weighted too much towards bitcoin. The crypto market has changed since 2017 and I don’t see how indicators like bitcoin search terms is as relevant when the majority of new people that we’re getting into this market like myself already knew about bitcoin and we just didn’t participate in 2017. Besides a btc chart everything I googled was for the major alts.
 
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GPM

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From what I have seen most people search Bitcoin for anything crypto related. Ethereum, crypto currency, most alts, are a fraction of Bitcoin searches. They also seem to generally follow the Bitcoin trend. Other than maybe doge, but I haven't looked at that one
 

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I thought this was a great post when I saw it and have been following it. My only issue is that I believe some of the indicators may be waited too much towards bitcoin.

To be fair, it is the *bitcoin* bull index after all. It might be a little challenging to apply these same indicators to other chains due in large part to the fact that there's not as much historical data for the newer chains. That said, I tend to agree re: other blue chip chains potentially decoupling and gaining independence from papa bitcoin in the not-so-distant future.

Also, you may enjoy clicking around Glassnode - On-chain market intelligence as well. You can pull up some of the same/similar metrics for a few other chains.
 
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Sethamus

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Not sure if these have been shared before but thought I'd drop them here since I find Saylor's thoughts some of the most refined on crypto topics. Like Saylor, I'm in the BTC is a crypto "asset" vs a "currency" camp, I know there is disagreement on that here which is great as I think it's good to hear both sides. Saylor makes some interesting points about regulations and tax treatments effectively treating it as an asset and why this isn't a bad thing. This seems especially relevant given China's recent banning on use as a medium of exchange.

I'm guessing most people in this thread already know who he is but if not he's the CEO of Microstrategy (who converted their treasury and possibly helped convinced Musk to convert Tesla treasury to BTC). I think Microstrategy has $2B worth of BTC now.

The first one I watched and thought was one of the best discussions I've seen around the topic of BTC, ETH and how it compares to gold/stocks/fiat. The second I haven't finished yet but seemed valuable based on the 20 min or so I've gotten through thus far.

View: https://www.youtube.com/watch?v=XgqC5_eugJI


View: https://www.youtube.com/watch?v=zr_3F-zNM8g&t=1432s
I’ll watch these two later but just to contribute on this topic. You can currently get loans against your bitcoin holdings like an asset. For companies to get loans they normally have to have some sort of asset to back the loan. As of right now a lot of those are treasury bonds and companies are loaning their assets to other companies and essentially cooking the books on how much they have on reserve(go back and read the post @MitchC posted).If the major corporations hold bitcoin as an asset for their balance sheet then it could be a whole ecosystem of lending bitcoin between companies for them to get loans in the future like they do with treasury bonds today. The federal reserve not wanting to lose control so they will create their centralize token as the new treasury bond or dollar replacement. The issue with that is bitcoin can go country to country and a country base token could potentially have a lot more difficulties especially when you have a country like China competing against the United States. Allowing Bitcoin to find some level of value($50k, $100k, $500k?) to stabilize at. The argument James he’s making that the block chain tech it’s going to be the bigger winners in the long run is all of the smart contracts, defi, oracles running it, and on and on like Eth,ADA,Solana and more.

To put it in simpler terms, in my opinion, bitcoin is like buying land or a house right now and all of these major alts are like buying into the tech companies in 1997 and 98 before the tech boom and collapse that followed.
 

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How about we ask the people on the forum in countries such as Nigeria what you think of Bitcoin and what it has done or helped with.

Oh for sure. There is no doubt that there is much value & utility in crypto currencies. My only devil's advocate in this is that I've been observing countries using less and less of Bitcoin versus using other cryptos to accomplish the same thing.

I honestly can't remember the last time I used Bitcoin (or even ETH) to transfer between exchanges or whatever. I almost always convert to XLM or some other faster coin. And then into USDT or equal if needed when transfer is done. I'm noticing a trend where Bitcoin is getting cut out of the equation.

This is what makes Bitcoin so beautiful. It's the world's most secure system, the system can report a 100% uptime for the last 12 years, it has no off button, and its security can be inherited. Unlike staked coins, Bitcoin can continue forever without any governance, until we break cryptography.

Agreed. No arguing here at all about the security. My concern was more so what happens to Bitcoin when better alternatives that can provide the same thing come to the fore front? And can improve on its weaknesses (transfers)?

Elon says bad I agree now. PLEAZZEEE

Ironically. I am not a fan of Elon Musk when it comes to crypto, by far. I think he's extremely smart and his companies will continue to be successful, but I have almost a mirror opposite thought when it comes to crypto + him.

Even though I don't agree with Elon on much on crypto; I semi-agree with his Bitcoin energy use. I've thought of this weakness long before Elon brought it to the fore front.

My take is not so much the energy use and if its justified or wasteful (my words were the best to what I actually meant). My take is that; that shows yet another example of its inefficiencies. As the world begins adopting the diff tech, its interesting to see how its shortcomings are piling up in real world use and seeing how this whole ecosystem will continue to evolve as it patches the weaknesses and/or providing the next generation to not patch and just make it obsolete.

What I'm observing is that the first generation cryptos are beginning to look like triangle blocks and as adoption continues, we are finding out and uncovering that the world has a majority of circle round holes.
 

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