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sevo00 said:
Because there are a limited supply of BTC. After the year 2026 there will never be anymore btc produced. It will eventually exceed the market cap of gold.
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The emission (inflation) schedule of bitcoin is known (unlike the current monetary policy where out of all the US dollars created, 40% have been created since March 2020, and there are questions about inflation lol).There are currently 18.8 million btc circulating. The last coin will be mined the year ~ 2140.
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mentos said:
So I still don't know why crypto is worth so much, I just follow the price trend.

What makes one BTC worth 65k compared to a year ago when it was 9k? Is it simply supply and demand? What about all the coins that have no supply cap?
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Limited supply, increasing demand. Beyond that, people determine the price, whether it be as a “store of value,” currency, or speculative asset.

“Bitcoin has no intrinsic value” is an argument that has been made since its inception a decade ago. Most people who don’t really truly understand the technology compare it to tulips. I think it’s more similar to a VA nurse: the longer it stays around, the harder it is to get rid of.

I can’t imagine why there would be a huge demand for a global, public, decentralized, censorship-resistant digital ledger that has (so far) been able to withstand the test of time.

Most cryptocurrencies are sh*tcoins, but that doesn’t invalidate blockchain technology and its implications for the future. The field has been and is continuing to evolve at break-neck speeds, and we’re still sitting here making the same arguments people did 10 years ago.

I think we’re still early on the adoption scale, but that’s just my opinion, which is worth much less than Bitcoin currently. It may be worth more than it in the future. I don’t know anything.
 
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sevo00 said:
Because there are a limited supply of BTC. After the year 2026 there will never be anymore btc produced. It will eventually exceed the market cap of gold.
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What about the rest of the coins with bigger supply? SHIB and doge have nearly unlimited supply right?

Neopolymath said:
Logistical and security question: How do you actually go about buying Bitcoin? I get leery of the idea of giving Strike my bank account info for example so what are people using to avoid excessive fees (compared to Strike) and are you setting up extra bank accounts or something so the exchange you use doesn't have direct access to your real money (sorry not trolling here lol)?

There is so much BS noise in the crypto space that I feel like important questions like this are missing.
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Avoid Coinbase IMO, they have the highest fees. Binance.us has the lowest fees I think. I just link it to my main checking account, not really concerned about them overdrawing it.
 
Neopolymath said:
Logistical and security question: How do you actually go about buying Bitcoin? I get leery of the idea of giving Strike my bank account info for example so what are people using to avoid excessive fees (compared to Strike) and are you setting up extra bank accounts or something so the exchange you use doesn't have direct access to your real money (sorry not trolling here lol)?

There is so much BS noise in the crypto space that I feel like important questions like this are missing.
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I use coinbase pro.

Linked my checking account.

Have bought ~$7500 worth of crypto, mainly bitcoin and Ethereum . Fees on coinbase pro are not bad. Easy interface.

No issues or complications.

I moved the coins to a physical wallet (trezor or nano are good options).

One of my colleagues uses Gemini and is happy with the service.
 
sevo00 said:
Because there are a limited supply of BTC. After the year 2026 there will never be anymore btc produced. It will eventually exceed the market cap of gold.
Click to expand...

WTF? Bitcoin is scheduled to continue to be mined until the year 2140. The rate of mining production is halved every couple years.

edit: see this was addressed earlier, my bad. Still worth pointing out the major error.
 
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Assuming all crypto goes up 2-3x in the next 6 mo how many years will that subtract from your initially planned full time years? Surprised the chatter I am hearing from colleagues from instantly going PT or stopping in 4-5 years altogether from clinical work.
 
finalpsychyear said:
Assuming all crypto goes up 2-3x in the next 6 mo how many years will that subtract from your initially planned full time years? Surprised the chatter I am hearing from colleagues from instantly going PT or stopping in 4-5 years altogether from clinical work.
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Maybe 1 for me? Hoping it'll be several more by 2030.
 
Many of you here are or will soon be going down the crypto rabbit hole. The good news is it’ll be worth it. Educate yourself and you’ll start to laugh at your old self who used to spend days and nights fighting for boomer scraps.
Do your own research.

It’s so much more than BTC, ETH, SOL. Start following people on twitter, join discord’s. Use coingecko. Learn to use metamask or phantom (for Solana). You’ll take lumps, but stick with it and you’ll see why it’s not going away.
 
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GassYous said:
Only if you hold cryptocurrency that no ones ever heard of
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CRO is getting popular now thanks to Matt Damon ads, Crypto.com's version of BNB. It just doubled in two weeks.

Bought some BTC on this dip.
 
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mentos said:
CRO is getting popular now thanks to Matt Damon ads, Crypto.com's version of BNB. It just doubled in two weeks.

Bought some BTC on this dip.
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I brought up crypto.com awhile ago, but it didn’t seem like anyone here was using it… but now that you are:
How are you getting USD into your account to purchase CRO?
My bank refused to do ACH or wire transfer to them. I ended up doing a debit purchase, and my bank charged me an “international debit fee”. After 30 days crypto.com also charged me a debit fee - so I was getting hit from both sides.
 
Z-Qualizer said:
I brought up crypto.com awhile ago, but it didn’t seem like anyone here was using it… but now that you are:
How are you getting USD into your account to purchase CRO?
My bank refused to do ACH or wire transfer to them. I ended up doing a debit purchase, and my bank charged me an “international debit fee”. After 30 days crypto.com also charged me a debit fee - so I was getting hit from both sides.
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I don't own any CRO but can't you just withdraw a coin (BTC, ADA, whatever) from a different exchange to crypto.com, sell it for USD/USDT and then buy CRO there? I do this with Kraken since they don't accept ACH. The fee to withdraw any amount of ADA from Binance.US to Kraken is 1 ADA.
 
Z-Qualizer said:
I’m sure you can, but crypto.com was the first exchange I joined, so I didn’t have another exchange to transfer crypto from.

I’m considering ditching crypto exchanges/wallets altogether and just investing in crypto on my RH and SoFi accounts (and yes I know you don’t actually “own” the crypto that way).
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Ugh don't use RH, they are the worst. It's far safer to keep your coins in a wallet.
 
mentos said:
Ugh don't use RH, they are the worst. It's far safer to keep your coins in a wallet.
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Yeah I know everyone hates RH now, ever since the Game Stop fiasco… but they make it so darn easy (and cheap) to use!!
 
Z-Qualizer said:
I’m sure you can, but crypto.com was the first exchange I joined, so I didn’t have another exchange to transfer crypto from.
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You can have a friend transfer coins to your exchange and Venmo them the money for it.
 
GassYous said:
Only if you hold cryptocurrency that no ones ever heard of
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Staples Center in LA to be renamed to crypto.com arena. People will know about CRO now.

www.latimes.com

Goodbye, Staples Center. Hello, Crypto.com Arena

The Staples Center will become known as Crypto.com Arena as part of a new 20-year deal between the Singapore cryptocurrency exchange and AEG, owner of the home arena of the Los Angeles Lakers, Clippers, Kings and Sparks.
www.latimes.com www.latimes.com
 
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Nice bounce this morning, hope that was the bottom.

Anyone like AVAX? It just got listed on Binance.us
 
mentos said:
Nice bounce this morning, hope that was the bottom.

Anyone like AVAX? It just got listed on Binance.us
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I don’t know much about AVAX, but people on YouTube and Reddit have been talking about it a lot lately… ALGO too
 
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AVAX up 18% since I bought. I just FOMO'd more.
 
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When I look at alts, I look at the charts priced in USD and BTC. Sometimes they tell a different story. Price may be going up in fiat but going down priced in BTC. Sorta the project I’m working on.

Bitcoin is the soundest money we’ve come across because it is publicly verifiable absolute (21,000,000 total coins, presently 18.8 million circulating) scarcity with the strongest network effect. So if a coin is going up priced in BTC, I take notice, because I look to park gains in BTC, as it’s slowly becoming a better savings account for me. Lil alpha for the noobs
 
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AVAX in the top 10 now. CRO number 13.

I'm liking this crypto.com app. Staked 4k worth of CRO for the 3% rewards debit card, will give it a try. 10% staking reward plus free Spotify, Netflix etc sound nice.

I like how it shows the top market caps in order. With all the crypto.com hype, I wouldn't be surprised if CRO broke into the top ten. Staples Center officially changes names to Crypto.com Arena on Christmas Day when Lebron and the Lakers play, should give CRO a nice pump then.
 

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If any of you are into Loopring. Big things are coming before the end of December and possibly before the end of November. I'm seeing big movements in the near future. You all should also look up what pleasrdao (they peeps who bought the wu tang album) have been saying the last day. needless to say but I have gone from six to midnight.
 
www.reuters.com

Virtual real estate plot sells for record $2.4 million

A patch of virtual real estate in the online world Decentraland sold for a record $2.4 million worth of cryptocurrency, the buyer crypto investor Tokens.com and Decentraland said on Tuesday.
www.reuters.com www.reuters.com

Strange world we live in. The metaverse is the next big thing. Thanks to Cocomelon, who unfortunately got banned from SDN, for shoving MANA down our throats since it was under $3. I didn't average down but made a little profit, back in at $5.
 
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mentos said:
www.reuters.com

Virtual real estate plot sells for record $2.4 million

A patch of virtual real estate in the online world Decentraland sold for a record $2.4 million worth of cryptocurrency, the buyer crypto investor Tokens.com and Decentraland said on Tuesday.
www.reuters.com www.reuters.com

Strange world we live in. The metaverse is the next big thing. Thanks to Cocomelon, who unfortunately got banned from SDN, for shoving MANA down our throats since it was under $3. I didn't average down but made a little profit, back in at $5.
Click to expand...

So people are buying fake land with fake money. Makes sense.

The fact that there are too many of these things to keep track should tell you guys something. You're using this "currency" as a potential investment, not to purchase goods and services. Hmmmm
 
GassYous said:
So people are buying fake land with fake money. Makes sense.

The fact that there are too many of these things to keep track should tell you guys something. You're using this "currency" as a potential investment, not to purchase goods and services. Hmmmm
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Quick Google search says there are around 108,000 stocks publicly traded around the world vs around 10,000 cryptocurrencies. Much less coins to keep track of vs stocks.

Crypto can be used to purchase goods and services if you want. It's legal tender in a few countries already. You can fund the crypto.com debit card with either cash or crypto.
 
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nimbus said:
Interesting interview


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mentos said:
www.reuters.com

Virtual real estate plot sells for record $2.4 million

A patch of virtual real estate in the online world Decentraland sold for a record $2.4 million worth of cryptocurrency, the buyer crypto investor Tokens.com and Decentraland said on Tuesday.
www.reuters.com www.reuters.com

Strange world we live in. The metaverse is the next big thing. Thanks to Cocomelon, who unfortunately got banned from SDN, for shoving MANA down our throats since it was under $3. I didn't average down but made a little profit, back in at $5.
Click to expand...


The interview above is a neurosurgeon interviewing a fund manager who invests in decentraland real estate.
 
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In June, a plot of virtual land in Decentraland sold for 1,295,000 MANA, worth $913,228 at the time. The buyers built a virtual shopping centre to sell digital clothing, but Reuters has visited this site multiple times since and not seen any shoppers.
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Makes sense to me 🤔

Screams money laundering IMO
 
mentos said:
Quick Google search says there are around 108,000 stocks publicly traded around the world vs around 10,000 cryptocurrencies. Much less coins to keep track of vs stocks.

Crypto can be used to purchase goods and services if you want. It's legal tender in a few countries already. You can fund the crypto.com debit card with either cash or crypto.
Click to expand...
Except that historically, stocks were fundamentally valued based in some way upon their net asset value with further premiums related to growth, earnings, etc. Looser monetary policy has encouraged greater speculation and risk taking, resulting in greater emphasis on the earnings, and then later (and even more loosely) on growth, with less attention to the original purpose. The irrational exuberance we see today combined with FOMO has fueled inflows into "assets" that have NO net asset value, no earnings, no business growth, thus leaving speculation only (ie a trade based entirely upon technicals with zero fundamentals, no matter how loose). I do hope it doesn't destroy the lives of too many if the music stops entirely. Again, not my circus not my monkeys.
 
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gasdoc77 said:
Except that historically, stocks were fundamentally valued based in some way upon their net asset value with further premiums related to growth, earnings, etc. Looser monetary policy has encouraged greater speculation and risk taking, resulting in greater emphasis on the earnings, and then later (and even more loosely) on growth, with less attention to the original purpose. The irrational exuberance we see today combined with FOMO has fueled inflows into "assets" that have NO net asset value, no earnings, no business growth, thus leaving speculation only (ie a trade based entirely upon technicals with zero fundamentals, no matter how loose). I do hope it doesn't destroy the lives of too many if the music stops entirely. Again, not my circus not my monkeys.
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That's fair. I don't see much difference in risk in buying crypto vs speculative/meme/high PE stocks like TSLA, GME, AMC, RBLX, RIVN, LCID, etc.
 
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mentos said:
That's fair. I don't see much difference in risk in buying crypto vs speculative/meme/high PE stocks like TSLA, GME, AMC, RBLX, RIVN, LCID, etc.
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I agree
 
gasdoc77 said:
Except that historically, stocks were fundamentally valued based in some way upon their net asset value with further premiums related to growth, earnings, etc. Looser monetary policy has encouraged greater speculation and risk taking, resulting in greater emphasis on the earnings, and then later (and even more loosely) on growth, with less attention to the original purpose. The irrational exuberance we see today combined with FOMO has fueled inflows into "assets" that have NO net asset value, no earnings, no business growth, thus leaving speculation only (ie a trade based entirely upon technicals with zero fundamentals, no matter how loose). I do hope it doesn't destroy the lives of too many if the music stops entirely. Again, not my circus not my monkeys.
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The value seems to be in the underlying blockchain represented by the cryptocurrency. It’s just a matter of which one(s) win out. Though I admittedly have a very rudimentary understanding, but blockchain, along with the meta verse and Web 3.0 is, in some iteration, going to be the future.
 
OneFellSwoop said:
The value seems to be in the underlying blockchain represented by the cryptocurrency. It’s just a matter of which one(s) win out. Though I admittedly have a very rudimentary understanding, but blockchain, along with the meta verse and Web 3.0 is, in some iteration, going to be the future.
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Fine. Can I buy a lot of virtual real estate in decentraland? Of course 100% interest only mortgage. Secured only by the “land” no other personal liability for the borrowed money.
 
dr doze said:
Fine. Can I buy a lot of virtual real estate in decentraland? Of course 100% interest only mortgage. Secured only by the “land” no other personal liability for the borrowed money.
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You can buy it with MANA coins.

BTC is essentially like buying virtual real estate or gold.
 
dr doze said:
Fine. Can I buy a lot of virtual real estate in decentraland? Of course 100% interest only mortgage. Secured only by the “land” no other personal liability for the borrowed money.
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For all we know this purchase in decentraland may simply be an advertising stunt by Zuck (or an offshoot/crony) to promote the concept of meta. Within those circles 2.4M is a rounding error. Always follow the money.
 
gasdoc77 said:
For all we know this purchase in decentraland may simply be an advertising stunt by Zuck (or an offshoot/crony) to promote the concept of meta. Within those circles 2.4M is a rounding error. Always follow the money.
Click to expand...

I agree there are and will be stunts etc, but the tie into the real world with smart contracts etc with blockchain will be game changing.
 
OneFellSwoop said:
I agree there are and will be stunts etc, but the tie into the real world with smart contracts etc with blockchain will be game changing.
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OK I'll bite

Can you explain like I'm five even one hypothetical scenario where a "blockchain"-featured "smart" contract changes the game of some industry? I mean fundamentally alters the landscape of what's possible? What would that look like? How would it be better than what can be done now?

The only example I've heard that's even remotely plausible is that it could remove the need for an escrow middleman for some kinds of purchases. E.g. if you're buying a house, a "smart contract" could simultaneously verify transfer of funds and transfer a deed, without having to rely on a title company or escrow service. Is that really such an amazing, world-shaking, "game changing" thing?
 
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