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Bitcoin / Cryptocurrency Discussion (And Predictions)

Sethamus

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Are people really not concerned about the Federal Reserve making a "regulatory" statement in September as mentioned in the last hearing by Powell?

FUD or not, it can cause a correction.
If you want to make a government bet( not saying they will win or have the returns that BTC and ETH will) look up ISO 20022 on wiki. Shows like 5 coins that qualify currently.
 
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Ing

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Where do you change DCA? Dont find one with liquidity
 

Madara

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Not entering bitcoin until we comfortably get above 42k. This thing can still crash down further unless it properly breaks that 42k price level, along with the the key emas mentioned in my last post.
 

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Has anyone here considered running their own staking pool on Cardano? I think it'd be interesting. Definitely a full-time business. The only downside is needing at least $1,000,000+ ADA to get a chance at producing a block consistently. But I feel like once you got the pool running, a system going, and the right team... growing your pool and taking care of your delegators would be a lot of fun and would be rewarding.
 
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nitrousflame

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If you're in this thread, chances are you may have already seen this bankless article, but if not, it's a pretty great intro/explainer on Olympus:

 

AceVentures

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Has anyone here considered running their own staking pool on Cardano? I think it'd be interesting. Definitely a full-time business. The only downside is needing at least $1,000,000+ ADA to get a chance at producing a block consistently. But I feel like once you got the pool running, a system going, and the right team... growing your pool and taking care of your delegators would be a lot of fun and would be rewarding.

Running a validator node in PoS systems with high demand and high throughput offers handsome rewards. You take the risk of the price of the underlying asset - so staking rewards should be considered wrt the asset risk.

So then you're back to evaluating whether the underlying will outperform or not.

Demand for blockspace, validator rewards, decentralization of nodes, and supply/burn mechanisms need to be in concert for the economy of that blockchain to churn net positive production.

TL;DR Cardano doesn't have any meaningful demand for blockspace, mainly because they don't have smart contract capability yet.
 

AceVentures

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The foundations of the technology world were built by makers, not takers. The Internet, the Mach kernel, the Linux kernel, the web. The other guys showed up later and used them to build paywalls around other peoples’ work. Their day of reckoning is coming.

-Tim Sweeney, CEO and founder of Epic Games
 
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Kak

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AceVentures

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Tax provision slipped into infra bill to help fund it. In it, complete morons have typed up in size 978 font some ridiculous definitions of intermediaries that couldn't be enforced as described.

View: https://twitter.com/jerrybrito/status/1422002228102107142


This guy was one of the panelists on the Senate Banking Committee Hearing this past week if you kept up with it - the effects wouldn't go into practice until 2022-2023 anyway, and there is plenty of time to address it.

Great story to grow a newsletter and a blog though, but imo just FUD.
 

AceVentures

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I think enough interests are aligned to keep the money flow here and place a sandbox framework to promote innovation without killing it. That seems to be the approach towards regulation that is being promoted and I hope it succeeds.

There are efforts in DC to push this perspective but from the complete lack of competence we've seen from government this past year it wouldnt surprise me if the politicians failed to act in time. Could push a lot of innovation out of America.
 
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Bones81

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Got back in ETHE today for the first time since May. Small position; still being cautious here.
 

AceVentures

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Got back in ETHE today for the first time since May. Small position; still being cautious here.

EIP1559 on Thursday. Either it's sell the news event for exit liquidity or it's a real catalyst for further upside.

I think the "burn" meme could catch on like wildfire. Any extra demand will fuel the meme and illustrate supply depletion. I think we could see lots of volatility as this technical mechanism begins interactinf with market psychology.
 

GPM

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EIP1559. I expect big upside moves with Ergo and Raven as those are both what seem to be grabbing miners attention. I'm personally going in on Raven.

Eth could do anything. I think the attention on it could cause a big jump
 
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GPM

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Well there you have it. Ergo and Raven both pumped like 40% today lol.

What's going to happen long term? No one knows. I am personally trying to hold as much as I can for now. Raven halving is next year and I want to keep as much as I can for that.
 

AceVentures

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I don't think people realize how revolutionary fractionalization will be. For insight, I'd like to break down the below quoted tweet and illustrate a more concrete use-case for this technology afterwards.

"
How does Fractionalization work? On http://Fractional.Art a 'curator' creates a vault with a single NFT or multiple NFTs. They can then create a fungible ERC-20 with a token supply, token symbol, set a reserve price, and a buyout price.

Reserve price = minimum bid needed to start an auction for the underlying NFT or NFTs. Buyout price = Price to outright buy the NFT or basket of NFT's in the vault A buyout will pull the NFT out of the vault and allow the token holders to exchange their tokens for Ethereum.

These vaults are entirely decentralized and custodied via an audited smart contract. Prospective buyers can then purchase these tokens and vote on curator fees. @DeezeFi recently fractionalized hoodie CryptoPunk #7171 with ticker $HOODIE and total supply 10,000.


1628435188752.png

Even more recent, @prtyDAO hosted a "party bid" via Fractional and sold part of Punk#2066. I participated in this. It was a lot of fun and it made me realize the social implications of fractionalization. There are currently 584 unique holders of $DEAD. https://etherscan.io/token/0x0C7060BF06a78AAAAB3fac76941318A52a3F4613

1628435233916.png

Unlocking the ability to crowdfund the purchase of rare art in of itself is revolutionary. The social implications of it all are even larger. Lets take the Deeze $HOODIE example, I saw tons of people change their profile picture to punk#7171. Same with the Zombie punk.

Think of avatars as the new clan tags or Guild banner. NFT's will become the new social hub of the metaverse.
"

Now - consider that the WEF is embracing blockchain for this specific technology (fractionalization) but instead applying it to real-world assets. One such example is real-estate which is being mass-bought (single-family homes), entire neighbourhoods of them at a time sometimes, with 20-30% upmark on the prices from the likes of Blackrock.

Their goal? Fractionalize real-estate ownership. The idea is you don't need to "own" a full house. And maybe under their management you never get to own more than 49% - but rather individuals or organizations can own fractions of real land, receive fractions of the revenue, etc.

This creates fractionalized joint ventures that are regulated by smart-contracts. This is F*cking huge and if we don't pay close attention, the idea of private property might slip through our fingers before we know what's happened. Understanding this technology is critical to living an unscripted life in the future that's being built.
 

Antifragile

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I don't think people realize how revolutionary fractionalization will be. For insight, I'd like to break down the below quoted tweet and illustrate a more concrete use-case for this technology afterwards.

"
How does Fractionalization work? On http://Fractional.Art a 'curator' creates a vault with a single NFT or multiple NFTs. They can then create a fungible ERC-20 with a token supply, token symbol, set a reserve price, and a buyout price.

Reserve price = minimum bid needed to start an auction for the underlying NFT or NFTs. Buyout price = Price to outright buy the NFT or basket of NFT's in the vault A buyout will pull the NFT out of the vault and allow the token holders to exchange their tokens for Ethereum.

These vaults are entirely decentralized and custodied via an audited smart contract. Prospective buyers can then purchase these tokens and vote on curator fees. @DeezeFi recently fractionalized hoodie CryptoPunk #7171 with ticker $HOODIE and total supply 10,000.


View attachment 39381

Even more recent, @prtyDAO hosted a "party bid" via Fractional and sold part of Punk#2066. I participated in this. It was a lot of fun and it made me realize the social implications of fractionalization. There are currently 584 unique holders of $DEAD. https://etherscan.io/token/0x0C7060BF06a78AAAAB3fac76941318A52a3F4613

View attachment 39382

Unlocking the ability to crowdfund the purchase of rare art in of itself is revolutionary. The social implications of it all are even larger. Lets take the Deeze $HOODIE example, I saw tons of people change their profile picture to punk#7171. Same with the Zombie punk.

Think of avatars as the new clan tags or Guild banner. NFT's will become the new social hub of the metaverse.
"

Now - consider that the WEF is embracing blockchain for this specific technology (fractionalization) but instead applying it to real-world assets. One such example is real-estate which is being mass-bought (single-family homes), entire neighbourhoods of them at a time sometimes, with 20-30% upmark on the prices from the likes of Blackrock.

Their goal? Fractionalize real-estate ownership. The idea is you don't need to "own" a full house. And maybe under their management you never get to own more than 49% - but rather individuals or organizations can own fractions of real land, receive fractions of the revenue, etc.

This creates fractionalized joint ventures that are regulated by smart-contracts. This is f*cking huge and if we don't pay close attention, the idea of private property might slip through our fingers before we know what's happened. Understanding this technology is critical to living an unscripted life in the future that's being built.
This is one of the most important things to happen to RE sector! It’s mind blowing how big of an impact it can have. As someone whose business is in this field, I’ve been saying this for years. We are getting closer.
GP/LP structures with smart contracts are the future of funding RE development.
 
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AceVentures

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EIP1559 has been live 3 days now and the results are impressive - have a look for yourself.

In 3 days - over 15,000ETH has been burned (the equivalent of $45M USD).

That is $45M worth of ETH that would have been paid to miners and subsequently sold. That's $45M of sell pressure taken out of the market. In 3 days.

1628458535532.png
 

Antifragile

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During the next 30 days, the market will go parabolic at a face-melting rate. Everyone, and I mean everyone will talk about crypto. If you want the next 30-100x(DeFi hint), place your bets now. BTC tops out around 220k.
Total marketcap tops around $10T.
Hahaha

I predict the market will go up or down, definitely, take this advice to the bank!
 
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Antifragile

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I don't base my predictions based on arbitrary opinions, but on the intentions of market participants.

Attached is my DOGE prediction from late 2020.

ok, please explain ETH and/or BTC.
 

GPM

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Well eip1559 did exactly what I thought it would for Raven and Ergo. 100% gain on both coins in the last week
 
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Ing

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Well eip1559 did exactly what I thought it would for Raven and Ergo. 100% gain on both coins in the last week
And my VISA did exactly, what I NOT thought.
Fixed now but too late for this.
 

Ing

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During the next 30 days, the market will go parabolic at a face-melting rate. Everyone, and I mean everyone will talk about crypto. If you want the next 30-100x(DeFi hint), place your bets now. BTC tops out around 220k.
Total marketcap tops around $10T.
30-100 is hard from the present plateau.
BTC on 210k is x4 from now!
But I d be happy, when you r right.
 

AceVentures

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EIP has been live for 1 week now and has burned $100M worth of ETH.

How excited would you be for BTC if you heard an announcement that some AI machine had been hired to buy BTC to the tune of $100M/week and then burning the private keys to those coins?

Lmao I know I'm harping on this but I just don't know if people understand what any of this means in practice. ETH is an economy. You need ETH to participate in this economy. You may choose you don't care, and that's fine.

But if ETH continues to remain a prominent, undisruptable open-source platform for financial and self sovereignty, then your ability to participate in this economy is becoming harder every week. To the tune of $100M/week of circulating supply depletion.

*EDIT: not your ability to participate per say, but rather to preserver your buying power. Money is worth more today than tomorrow. This is more important if you consider that the nature of these open-source networks suggests they will exist so far as 1 single node maintains a live ledger. If ETH is here 10 years from now - the time value of money in this exponential economy would have obliterated your today's money into beans worth in the future.

e.g. buying 10,000 ETH when it was $10 would have cost you $100,000. Today, buying an NFT on Opensea for 15 ETH would make normies raise eyebrows - fume with rage at how irresponsible it would be for someone to buy a cryptographic keypair for 15ETH*$3,000 = $45,000. How outrageous! But that's in the USD economy. In the ETH economy, it's only 15ETH... like 15 bucks. It will continue to feel like this, in THAT economy. And looking into crypto, from the USD economy, will increasingly look nonsensical.
 
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AceVentures

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To me, BTC feels like a giant ponzi. I don't own any and don't intend to own any. I bought some when I first got into crypto - and 1 week later I sold it all for ETH. I've not bought any more since.

I love blockchain technology. But I believe BTC is outdated for it's intended purpose. It's ethos lives on, but not on the BTC ledger.

Everyone is rooting for BTC because of the narrative - and how it might be an easier battle towards adoption if we can just get people to understand one simple abstraction and call it BTC. Imo everyone also kind of deep down knows this BTC thing is a giant ponzi - but they're afraid of criticizing it because it's the granddaddy of crypto and if you say anything negative about it, well you'll get lynched by freedom fighters.

Imo this is not the true path forward. If we can, we should educate people. I learned about ETH and now I KNOW that BTC is an outdated technology. I don't encourage any of my own friends or family to buy BTC. If I encourage crypto to them, I start with ETH and get them to learn about smart-contracts. "Blockchain" is only part of the puzzle towards open and permissionless peer to peer networks. Having a compute engine that can process information against this ledger is infinitely more important, and BTC's engine is no bueno for what we want out of this technology.

The truth is the only thing that will live on. And BTC has both an unsustainable security budget and is impractical as a distributed ledger technology. It's also very difficult and operationally impractical to run your own node. The entire point of these networks is you have the freedom to participate and run your own node. It's properties are a lot more akin to a giant NFT project with 21M fractionalized tokens.

Please note - as a fractionalized NFT project with limited supply - it DOES have store of value properties. Just don't confuse that as the network being used for global settlement.

I can't do much with the BTC network, and I wouldn't want to do shit with it anyway. Web3 is what's in store for the future - and I don't know how anybody that has an ambitious vision for web3 can think BTC is what takes us there.

Go on - lynch me for what I've said.
 
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Ing

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To me, BTC feels like a giant ponzi. I don't own any and don't intend to own any. I bought some when I first got into crypto - and 1 week later I sold it all for ETH. I've not bought any more since.

I love blockchain technology. But I believe BTC is outdated for it's intended purpose. It's ethos lives on, but not on the BTC ledger.

Everyone is rooting for BTC because of the narrative - and how it might be an easier battle towards adoption if we can just get people to understand one simple abstraction and call it BTC. Imo everyone also kind of deep down knows this BTC thing is a giant ponzi - but they're afraid of criticizing it because it's the granddaddy of crypto and if you say anything negative about it, well you'll get lynched by freedom fighters.

Imo this is not the true path forward. If we can, we should educate people. I learned about ETH and now I KNOW that BTC is an outdated technology. I don't encourage any of my own friends or family to buy BTC. If I encourage crypto to them, I start with ETH and get them to learn about smart-contracts. "Blockchain" is only part of the puzzle towards open and permissionless peer to peer networks. Having a compute engine that can process information against this ledger is infinitely more important, and BTC's engine is no bueno for what we want out of this technology.

The truth is the only thing that will live on. And BTC has both an unsustainable security budget and is impractical as a distributed ledger technology. It's also very difficult and operationally impractical to run your own node. The entire point of these networks is you have the freedom to participate and run your own node. It's properties are a lot more akin to a giant NFT project with 21M fractionalized tokens.

Please note - as a fractionalized NFT project with limited supply - it DOES have store of value properties. Just don't confuse that as the network being used for global settlement.

I can't do much with the BTC network, and I wouldn't want to do shit with it anyway. Web3 is what's in store for the future - and I don't know how anybody that has an ambitious vision for web3 can think BTC is what takes us there.

Go on - lynch me for what I've said.
Sure, but stillits the BTC bullrun!
I don’t have BTC for itself, only when swap needs it.
 
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Hai

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To me, BTC feels like a giant ponzi. I don't own any and don't intend to own any. I bought some when I first got into crypto - and 1 week later I sold it all for ETH. I've not bought any more since.

I love blockchain technology. But I believe BTC is outdated for it's intended purpose. It's ethos lives on, but not on the BTC ledger.

Everyone is rooting for BTC because of the narrative - and how it might be an easier battle towards adoption if we can just get people to understand one simple abstraction and call it BTC. Imo everyone also kind of deep down knows this BTC thing is a giant ponzi - but they're afraid of criticizing it because it's the granddaddy of crypto and if you say anything negative about it, well you'll get lynched by freedom fighters.

Imo this is not the true path forward. If we can, we should educate people. I learned about ETH and now I KNOW that BTC is an outdated technology. I don't encourage any of my own friends or family to buy BTC. If I encourage crypto to them, I start with ETH and get them to learn about smart-contracts. "Blockchain" is only part of the puzzle towards open and permissionless peer to peer networks. Having a compute engine that can process information against this ledger is infinitely more important, and BTC's engine is no bueno for what we want out of this technology.

The truth is the only thing that will live on. And BTC has both an unsustainable security budget and is impractical as a distributed ledger technology. It's also very difficult and operationally impractical to run your own node. The entire point of these networks is you have the freedom to participate and run your own node. It's properties are a lot more akin to a giant NFT project with 21M fractionalized tokens.

Please note - as a fractionalized NFT project with limited supply - it DOES have store of value properties. Just don't confuse that as the network being used for global settlement.

I can't do much with the BTC network, and I wouldn't want to do shit with it anyway. Web3 is what's in store for the future - and I don't know how anybody that has an ambitious vision for web3 can think BTC is what takes us there.

Go on - lynch me for what I've said.

I agree with the technological aspects, but think BTC will be a safe haven for everything market related, as it becomes more diluted and less volatile, similar to what Gold is today.
 

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To me, BTC feels like a giant ponzi. I don't own any and don't intend to own any. I bought some when I first got into crypto - and 1 week later I sold it all for ETH. I've not bought any more since.

I love blockchain technology. But I believe BTC is outdated for it's intended purpose. It's ethos lives on, but not on the BTC ledger.

Everyone is rooting for BTC because of the narrative - and how it might be an easier battle towards adoption if we can just get people to understand one simple abstraction and call it BTC. Imo everyone also kind of deep down knows this BTC thing is a giant ponzi - but they're afraid of criticizing it because it's the granddaddy of crypto and if you say anything negative about it, well you'll get lynched by freedom fighters.

Imo this is not the true path forward. If we can, we should educate people. I learned about ETH and now I KNOW that BTC is an outdated technology. I don't encourage any of my own friends or family to buy BTC. If I encourage crypto to them, I start with ETH and get them to learn about smart-contracts. "Blockchain" is only part of the puzzle towards open and permissionless peer to peer networks. Having a compute engine that can process information against this ledger is infinitely more important, and BTC's engine is no bueno for what we want out of this technology.

The truth is the only thing that will live on. And BTC has both an unsustainable security budget and is impractical as a distributed ledger technology. It's also very difficult and operationally impractical to run your own node. The entire point of these networks is you have the freedom to participate and run your own node. It's properties are a lot more akin to a giant NFT project with 21M fractionalized tokens.

Please note - as a fractionalized NFT project with limited supply - it DOES have store of value properties. Just don't confuse that as the network being used for global settlement.

I can't do much with the BTC network, and I wouldn't want to do shit with it anyway. Web3 is what's in store for the future - and I don't know how anybody that has an ambitious vision for web3 can think BTC is what takes us there.

Go on - lynch me for what I've said.

I think satoshi is a genius. Normally currency gets adopted because a government mandates it by imposing taxes in that currency.

How to make the hardest money ever created adopted by the global population?

Design it so early adopters get rewarded for taking the risk, playing on peoples greed.

So in a way it has some ponzi element, but to say it is a ponzi is ignorant.

Also the outdated argument is really strange. Is a hammer outdated technology?
 

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