Bitcoin/cryptocurrency thread

[Zetterlund]

KLIMA is also an interesting one, as instead of being backed by stablecoins or other crypto assets, its treasury holds tokenised carbon offsets. The project's purpose is to create a constant bid for carbon credits to remove them from the market and drive up the cost of not going green. It's a nice idea, only a few weeks old but so far seems to be working as intended.

35,000% APY equates to around 60% monthly.

Edited November 7, 2021 by Zetterlund

[DiegoDiego]

I've heard of Klima but not Time. It's a fascinating concept though, it'll be really interesting to see how it plays out. I should probably look into them a bit more, I assume there are discord servers and what not.

[sparky88]

6 hours ago, gaz5 said:

I would agree with you, if it had only done things once, because that's an isolated incident.

But it's done the same thing, the macro market structure all 3 times has been exactly the same and is following exactly the same for all major milestones thus far in 2021.

That's a pattern.

Don't take my word for it though, pull up BLX on trading view and throw a fib on from top to bottom of every cycle with the RSI indicator on.

You'll find:

2013: Broke 1.272, mid cycle correction between 1.272 and 1.618, retested 1.272 in July, topped in December at second RSI peak, dropped to the 1.618 as cycle bottom.

2017: Broke 1.272, mid cycle correction between 1.272 and 1.618, retested 1.272 in July, topped in December at second RSI peak, dropped to the 1.618 as cycle bottom.

2021: Broke 1.272, mid cycle correction between 1.272 and 1.618, retested 1.272 in July, climbing towards December.

Could be complete coincidence I guess that 2 cycles were identical macro wise and the third has hit the first 3 of 6 milestones.

ETA: I'm not tied 100% to this, just one of the plans I have till it's invalidated. Playing the probabilities based on data we have.
 

Technical analysis like this is essentially astrology. 

[Zetterlund]

10 minutes ago, DiegoDiego said:

I've heard of Klima but not Time. It's a fascinating concept though, it'll be really interesting to see how it plays out. I should probably look into them a bit more, I assume there are discord servers and what not.

I've actually just been reading a good thread on OHM which is probably the best explainer I've seen for people new to it.

TIME is currently 72,000% APY and it's main backing is literally called Magic Internet Money  Sounds legit and all that... but it does seem like a proper project and the team behind it have long-term plans for a whole ecosystem.

(There are a few TIME tokens, this one is Wonderland)

[gaz5]

Technical analysis like this is essentially astrology. 

Says everyone who can't make it work for them and assumes because they can't no-one can.

[DiegoDiego]

I've actually just been reading a good thread on OHM which is probably the best explainer I've seen for people new to it.
TIME is currently 72,000% APY and it's main backing is literally called Magic Internet Money [emoji38] Sounds legit and all that... but it does seem like a proper project and the team behind it have long-term plans for a whole ecosystem.
(There are a few TIME tokens, this one is Wonderland)

I'm not a great fan of twitter, especially twitter threads which would be better off as a blog post, but I guess that's for the PTTGOYN thread. Thanks for the link though!

Now you mention it, I have actually heard of MIM and though it does make it sound very scammy it's quite a hilarious name really and will definitely attract attention.

[DeeTillEhDeh]

There are none.

The hedge for the crypto crash is and always has been fiat.

Absolutely - it's why if you are investing in crypto that it is relatively easy to convert to hard currency.

As I've said previously it's not for me - I don't have the balls to cope with the volatility in crypto markets.

Others do - but even then I suspect that most of you haven't gone in balls deep with a large-scale hard currency investment.

[gaz5]

Absolutely - it's why if you are investing in crypto that it is relatively easy to convert to hard currency.

As I've said previously it's not for me - I don't have the balls to cope with the volatility in crypto markets.

Others do - but even then I suspect that most of you haven't gone in balls deep with a large-scale hard currency investment.

Nah, as I've always said it's a small part of my overall portfolio. I treat it as a high risk asset class and balance it as such.

It's obviously growing at a faster rate than everything else, so it's a higher % now than optimal, but that's why I'll sell at the end of the cycle rather than hold through the drawdown.

After paying tax, I'll max out mine, the wife and juniors ISA and the rest (after a few expenses) will be staked, capital for short coverage on bitcoin and trading during the bear market and trading capital for the next cycle when we get to the bottom.

So the rebalancing takes care of itself.

[Satoshi]

I think a healthy degree of skepticism is welcome and to be encouraged. I also particularly enjoyed the Tulip bulb comparison, proof that some things in Crypto never change (that one has been around for years).

It has been a while since I've seen a 'Bitcoin will go all the way to zero' articles but sure they will make a comeback soon enough.

I have not much else to add to this thread other than people should DYOR. There are some very knowledgeable people on this thread (and some idiot talking about CAT tokens) but it should only be one source of many you consult before deciding if and where to invest.

I would discourage anyone from holding their whole portfolio in crypto (I have 5-20%) but I would also discourage anyone from holding 0% of their investments in crypto. That's a fairly antiquated position and crypto has a place in a diversified portfolio alongside boring tracker ETFs (which are also having a good year) or property or vintage wine or whatever.

If you can't stomach losing 20% of your portfolio in a day you shouldn't invest in crypto (or the stockmarket for that matter). Both will have several huge dips and it's virtually impossible to avoid.

Also, to do a bit of myth busting, nobody is making money through their participation in the thread - if you did want to pump / dump / spam on some token P&B is one of the last places on the internet you would go to. It's a fun, friendly discussion thread and if you are a sceptic - you're more than welcome. The world can always do with more skepticism. If you are saving up for a 'told you so' moment then it won't be the first one I've seen re. crypto - and they don't age well. 

My recent punts have been on E-Radix and Metahero. Not getting in on the ground floor with either but both have interesting potential (DYOR!). Dog tokens seem to have had their day (it's now Quack) but my Floki is still doing well.

I'll been hodling and investing through the next crash. Why the f**k not.

Edited November 8, 2021 by Satoshi

[iron mike python]

Happy Ethereum and Avalanche all time high day today.

[DMCs]

4 hours ago, Satoshi said:

I would discourage anyone from holding their whole portfolio in crypto (I have 5-20%) but I would also discourage anyone from holding 0% of their investments in crypto. That's a fairly antiquated position and crypto has a place in a diversified portfolio alongside boring tracker ETFs (which are also having a good year) or property or vintage wine or whatever.

This is a credible and sensible position. It depends on the investor's age and retirement aims as well though. I'd not recommend someone close to retirement to be risking that with crypto.

[Satoshi]

2 hours ago, DMCs said:

This is a credible and sensible position. It depends on the investor's age and retirement aims as well though. I'd not recommend someone close to retirement to be risking that with crypto.

No worries, most old people don't understand crypto which is fair enough.

Been a good day for E-Radix but I missed the boat of Avalanche. Enjoy the ATH!

[Chinatoon Bairn]

6 hours ago, iron mike python said:

Happy Ethereum and Avalanche all time high day today.

Fingers crossed we see BTC following suit by the end of the day. Although the pump last night was on poor volume.

[iron mike python]

17 hours ago, Chinatoon Bairn said:

Fingers crossed we see BTC following suit by the end of the day. Although the pump last night was on poor volume.

Happy Bitcoin All Time High Day Today to all of you, coiners and nocoiners!

[gaz5]

Happy Bitcoin All Time High Day Today to all of you, coiners and nocoiners!

Surpassed Silver today in terms of market cap, if you like that measure.

Pretty mad actually.

[Aufc]

Mon the vechain

[iron mike python]

Basically the conversation below means that there will be a retroactive airdrop for Metamask users who have used the "Swap" feature. The metamask swap feature is a bit more expensive than using other decentralised exchanges but I reckon it will pay off for everyone long term to use it.

Translation of image: Icebergy says wallet competition means Metamask will launch a token to stay market leader. Journalist Andrew says they wont because JP Morgan own part of Metamask parent company Consensys. Jo Lubin CEO of Consensys hints they will have no problem with launching a MASK token.

[Detournement]

In unrelated news 3 billion Tether were created over the weekend. 

[Fraser Fyvie]

37 minutes ago, iron mike python said:

Basically the conversation below means that there will be a retroactive airdrop for Metamask users who have used the "Swap" feature. The metamask swap feature is a bit more expensive than using other decentralised exchanges but I reckon it will pay off for everyone long term to use it.

Translation of image: Icebergy says wallet competition means Metamask will launch a token to stay market leader. Journalist Andrew says they wont because JP Morgan own part of Metamask parent company Consensys. Jo Lubin CEO of Consensys hints they will have no problem with launching a MASK token.

Any estimation of the value of the drop? The demand for this will be insane. Same with OpenSea if they do one.

[iron mike python]

1 minute ago, Fraser Fyvie said:

Any estimation of the value of the drop? The demand for this will be insane. Same with OpenSea if they do one.

Interesting question...

Best thing would be a comparison to Uniswap (crypto market has grown massively since then) and ENS airdrop which happened last night. ENS is currently sitting at $371,924,083 (#237 on coingecko) but it is too early to say since only 25% of .eth people have claimed it. 

Uniswap is a governance token over one of the most popular Dapps in the sector. It has a marketcap of $14 billion as I write this. All you can currently do with it is vote on a few things and trade it. There are currently 800,000 unique accounts which have used Metamask swaps. 

14 billion/800 k = $17500 per account (if distribution weighted equally... likely the people who do more swaps will get a bigger piece of the pie)

BUT...... if they launch the token with a % cut of the revenue to holders, Mask will go right into the top 5 market caps. (same would happen to Uniswap/opensea). 

The$371,924,08