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Thread: Crypto Currency

  1. #151
    Atomic Wedgy's Avatar
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    Default Re: Crypto Currency

    Bet you they dont have the key anymore. Im thinking this is what will eventually kill the currency. There are only ever 21 million bitcoins in existence. People lose their keys or die without passing on the key. Its a diminishing pool. The blockchain cannot be altered, so I guess eventually they will have to create a new chain. There is about 2.3 million bitcoin left to "mine".

  2. #152
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    Default Re: Crypto Currency

    With the rules being so flimsy, they can adjust the Bitcoin cap without really much issue. Would just drop the value of a bitcoin by a lot, but open up more to be mined.

    Plus the amount of crypto out there, there crypto craze won't die. Coins like Litecoin will just jump, or some other coin.
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  3. #153
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    The Great One

    Default Re: Crypto Currency

    Prediction
    Where does it top out?

  4. #154
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    Default Re: Crypto Currency

    Quote Originally Posted by Atomic Wedgy View Post
    Bet you they dont have the key anymore. Im thinking this is what will eventually kill the currency. There are only ever 21 million bitcoins in existence. People lose their keys or die without passing on the key. Its a diminishing pool. The blockchain cannot be altered, so I guess eventually they will have to create a new chain. There is about 2.3 million bitcoin left to "mine".
    Why do you think a lot of people are losing their "key".

  5. #155
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    Default Re: Crypto Currency

    Quote Originally Posted by Mr. Guru View Post
    It's starting again


    Buckle up for the next ride!
    Up 500% since this woooooo

  6. #156
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    Default Re: Crypto Currency

    Quote Originally Posted by Mr. Guru View Post
    Prediction
    Where does it top out?
    It's anyone's guess.

    I could see BTC at 200k each by the end of this cycle, and ETH at like 5k. But it wouldn't shock me to see even higher numbers than that.

    If you have not fallen down the NFT rabbit hole and want to have your life sucked away then go for it.

    I've dropped some "fun" money into Street Fighter digital cards, VeVe Digital Collectibles, NiftyGateway art, and Eulerbeats. The firts digital NFT art piece is being auctioned at Christies in 15 minutes, and I wouldn't be surprised to see it go for 10+ million (he sold one for 6.6 million yesterday at NiftyGateway) The whole space is a massive speculative wildfire right now and pretty fun to be involved in. It's also going to be a bloodbath once the bubble pops as well, particularly for people who overleveraged and put in money they couldn't afford to lose (which is a lot)

    Our world is being changed with Defi and the blockchain. It's an amazing time to go through.

  7. #157
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    Default Re: Crypto Currency

    My mistake the Christie's auction is 14 days and just started. Opening bid is 1 million and it's off and running.

  8. #158
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    Default Re: Crypto Currency

    Quote Originally Posted by doulos View Post
    It's an amazing time to go through.
    I concur.

    I'm enjoying the ride....

  9. #159
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    Default Re: Crypto Currency

    Bitcoin was over 72 grand Canadian 4 days ago. It is 58 k now. The swings would drive me crazy.

    Rylant

  10. #160
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    Default Re: Crypto Currency

    Quote Originally Posted by Rylant View Post
    Bitcoin was over 72 grand Canadian 4 days ago. It is 58 k now. The swings would drive me crazy. <br>

    Rylant
    Volatility is completely fine and of no real concern provided that:
    1) You aren't using leverage
    2) Your time horizon is long
    3) The general trend is up, up, up (to the tune of 200% average annual gains)

    Volatility is much better than lack of volatility if your goal is asymmetric gains over time.

    "When in doubt, zoom out." -somebody wise

  11. #161
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    Default Re: Crypto Currency

    Quote Originally Posted by Tess Harper View Post
    Don't you think that DeFi is a temporary topic like lending platforms in 2017-2018? BTC is here for long, no doubt
    Personally I see no real long term future for BTC. I converted all of the rest of my BTC holdings into ETH this year (which wasn't much as I had converted most of it into ETH a few years back). I see it as the future of where we are headed. I do think BTC is where people are going to enter in, because it's the only thing people really know about right now, but that will change. We are still very early days yet. I had someone call and chat with me last week who invested in BTC for the first time. Didn't even know you didn't need to buy an entire Bitcoin. This is an individual who has invested in stocks for decades and done very well. It's hilarious how little people still know about this space.

    Now, all of that being said, I still consider all of what I have in crypto as speculative F U money. Who knows what could happen with it in terms of regulation etc. I have a boring old Index Fund retirement situation setup that I am happy with, but crypto is my 'zero or hero' speculation money.

  12. #162
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    Default Re: Crypto Currency

    Quote Originally Posted by Tess Harper View Post
    In terms of technology and potential BTC is sort of a miracle for me. Blockchain has the power to change the quality of life significantly but i am afraid or the US regulations. The crypto community say that because of decentralisation there can nothing be done with BTC but I think that Uncle Sam can ban the whole crypto market if he wants to.
    Right, but if the US decides to "ban the crypto market" (whatever that means exactly), it comes at a cost if/when no other countries decide to do the same. It's a huge consideration.

    When you have Goldman Sachs and Morgan Stanley dabbling in BTC, I think it's too late to shut this stuff down. Could I be wrong? Sure. But I doubt it. I say this as someone who now holds 0 BTC.

  13. #163
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    Default Re: Crypto Currency

    There are many uses for blockchain. It would be really dumb to try and regulate it to death. In my field of work we are looking at its potential in storing and sharing health information. We are currently using PKI certificates, but blockchain might just change everything for us.

  14. #164
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    Default Re: Crypto Currency

    Quote Originally Posted by Mr. Guru View Post
    Up 500% since this woooooo
    I can retire early. Thanks Bitcoin.

  15. #165
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    Default Re: Crypto Currency

    Quote Originally Posted by Mr. Guru View Post
    I can retire early. Thanks Bitcoin.
    ETH has done the same for me, and we're just getting started. It's amazing.

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