Bitcoin/cryptocurrency thread

[iron mike python]

2 hours ago, Detournement said:

So you are spending a valuable crypto currency to obtain a brand new one?

You have a choice though. You can either hold this new more volatile and risky SOS token, or if you prefer ETH  you can now swap SOS for more ETH using a decentralised exchange (once again costing a £20 fee at these gas prices so eating into your profits).

 

Why wouldn't you just hold ETH in the first place I hear you say? This is a good strategy and I recommend it to all newcomers, but realise that you wouldn't have interacted with the Opensea contracts in the first place. Crypto pays for you to try out different protocols and contracts (but can also punish you if they are unsafe)

 

[Theroadlesstravelled]

https://cryptobriefing.com/bored-ape-nft-collector-loses-2-2m-in-phishing-scam/

Phishing for apes.

[Fraser Fyvie]

Nice airdrop by new NFT marketplace LooksRare for anyone that's done 3 ETH volume on Opensea between June-December last year.

https://docs.looksrare.org/blog/launch-post

Reminded me how utterly miserable it is to use ethereum. Good chunk of my drop gone from fees including a failed tx.

[welshbairn]

Be careful out there.

https://www.theverge.com/2021/12/21/22848840/scammers-steal-crypto-nft-project-fractal-discord-hack-solana

[jamamafegan]

Anyone buying the dip? I’m tempted but not sure if the time is right.

[DiegoDiego]

Anyone buying the dip? I’m tempted but not sure if the time is right.

I'm buying some, but my time horizon is quite long so timing the market isn't as important.

[Kapowzer]

Buying the dip suggests you sold at the peak and didn't get your arse handed to you since early December.

[iron mike python]

On 10/01/2022 at 09:25, Fraser Fyvie said:

Nice airdrop by new NFT marketplace LooksRare for anyone that's done 3 ETH volume on Opensea between June-December last year.

https://docs.looksrare.org/blog/launch-post

Reminded me how utterly miserable it is to use ethereum. Good chunk of my drop gone from fees including a failed tx.

Thanks for the heads up on this mate. I got it currently sitting on £650 worth of airdrop. (Cost £30 gas fees)

I think I will even hold it until it breaches the top 100. Which I think it has the momentum to do. The narrative of Opensea killer is a strong one.

[Theroadlesstravelled]

Do any NFT bros want to buy a receipt of a picture of my shite? Only £1 million. 
In 3 years it will definitely be worth £5 million.

 

[Detournement]

Why does it always crash on a Friday?

[gaz5]

Why does it always crash on a Friday?

Traditional and Options market close, IMO.

Larger players closing positions to de-risk for weekend price movement they couldn't do anything about.

[welshbairn]

I was thinking this thread had quietened down a bit..

https://www.independent.co.uk/tech/bitcoin-price-latest-crypto-today-crash-b1998462.html

[gaz5]

I was thinking this thread had quietened down a bit..
https://www.independent.co.uk/tech/bitcoin-price-latest-crypto-today-crash-b1998462.html

[emoji1787]

Got to love a bit of sensationalism in the reporting for crypto.

Look at the Dow and the SPX. All risk on markets are down the last two weeks as they price in the potential QT announcement from the FED on Wednesday.

My equities have actually been more hosed the last week than my crypto.

[strichener]

1 minute ago, gaz5 said:

Got to love a bit of sensationalism in the reporting for crypto.

Look at the Dow and the SPX. All risk on markets are down the last two weeks as they price in the potential QT announcement from the FED on Wednesday.

My equities have actually been more hosed the last week than my crypto.

If your equities are down more than 18% in the last week then you really should look to rebalance your portfolio.

I suspect though that you are speaking nonsense.

[gaz5]

If your equities are down more than 18% in the last week then you really should look to rebalance your portfolio.
I suspect though that you are speaking nonsense.

My equities, like most people, are DCA fire and forget with an outlook of 10+ years. Actively trading them costs a fortune in fees.

I actively trade my crypto account because it's so volitile a market and trading fees are peanuts.

I suspect you knew this though, it just doesn't suit the anti crypto agenda.

But that wasn't the point I was making anyway, the point was that all risk on assets are taking a pounding at the moment because of wider macro conditions, but again we have the anti crypto folks jumping into the crypto thread as fast as a tabloid prints a Crypto bad story to tell us how bad crypto is, because it's gone down, the same as traditional markets have, for the same reasons, ignoring that wider context.

Despite what you guys think, the pro crypto people on this thread aren't idiots.

FWIW, it's all going to go down further as well. Crypto, Equities, Metals, RE. It's all got further to fall.

I expect Bitcoin to fall to the 28.8-31.1 range then bounce by the end of the quarter/first half of Q2 to 42-46. At that point, whether it's a LL/LH/LL combo or upside continuation will depend on market conditions at that point.

[Zetterlund]

22 hours ago, gaz5 said:

My equities, like most people, are DCA fire and forget with an outlook of 10+ years. Actively trading them costs a fortune in fees.

I actively trade my crypto account because it's so volitile a market and trading fees are peanuts.

I suspect you knew this though, it just doesn't suit the anti crypto agenda.

But that wasn't the point I was making anyway, the point was that all risk on assets are taking a pounding at the moment because of wider macro conditions, but again we have the anti crypto folks jumping into the crypto thread as fast as a tabloid prints a Crypto bad story to tell us how bad crypto is, because it's gone down, the same as traditional markets have, for the same reasons, ignoring that wider context.

Despite what you guys think, the pro crypto people on this thread aren't idiots.

FWIW, it's all going to go down further as well. Crypto, Equities, Metals, RE. It's all got further to fall.

I expect Bitcoin to fall to the 28.8-31.1 range then bounce by the end of the quarter/first half of Q2 to 42-46. At that point, whether it's a LL/LH/LL combo or upside continuation will depend on market conditions at that point.

I thought this was interesting - basically BTC is almost perfectly tracking the ARKK index of speculative tech stocks.

Not quite 'digital gold' then, as gold itself is one of the few things showing some strength lately.

[gaz5]

I thought this was interesting - basically BTC is almost perfectly tracking the ARKK index of speculative tech stocks.
Not quite 'digital gold' then, as gold itself is one of the few things showing some strength lately.

Yeah, I don't buy the digital gold/store of value BS either. It tracks traditional markets from a macro perspective and has done ever since I started watching it.

It's just like any other risk on asset.

At the moment, talk of QT and rate hikes has risk on markets pricing that in.

What I have found interesting about BTC and watching the chart say closely as this cycle has progressed is the obvious differences between this cycle and previous that are starting to build.

History is always a good gauge (for technical trading) but it's interesting the affect that larger, traditional players seem to have made on the crypto market (likely through their bots). It's making that correlation to market movement in equities all the more evident.

[strichener]

On 22/01/2022 at 20:02, gaz5 said:

My equities, like most people, are DCA fire and forget with an outlook of 10+ years. Actively trading them costs a fortune in fees.

I actively trade my crypto account because it's so volitile a market and trading fees are peanuts.

I suspect you knew this though, it just doesn't suit the anti crypto agenda.

But that wasn't the point I was making anyway, the point was that all risk on assets are taking a pounding at the moment because of wider macro conditions, but again we have the anti crypto folks jumping into the crypto thread as fast as a tabloid prints a Crypto bad story to tell us how bad crypto is, because it's gone down, the same as traditional markets have, for the same reasons, ignoring that wider context.

Despite what you guys think, the pro crypto people on this thread aren't idiots.

FWIW, it's all going to go down further as well. Crypto, Equities, Metals, RE. It's all got further to fall.

I expect Bitcoin to fall to the 28.8-31.1 range then bounce by the end of the quarter/first half of Q2 to 42-46. At that point, whether it's a LL/LH/LL combo or upside continuation will depend on market conditions at that point.

So your equities aren't down more than crypto over the last week then, not sure what benefit you get making false statements.

 

[gaz5]

So your equities aren't down more than crypto over the last week then, not sure what benefit you get making false statements.
 

The clue was in the word "my".

"My" equity portfolio is indeed down more than "my" crypto portfolio in the last week.

But sure, ignore the actual point of the post for a second time and concentrate on that, irrelevant in any case, bit.

Also more than a hint of irony in one of the anti crypto brigade, in the crypto thread, raising the issue of false statements though. Touche. [emoji1787]

[Kapowzer]

I don’t get what the endgame is with them though. Is it to dissuade those contemplating getting involved as a some sort of public service or is it plainly just as ego centric as hoping to whip out a “told you so” on a football forum known for its irrelevance, hyperbole and piss taking?

If so you keep on doing you.