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Ronin786 said:
This is the stuff that blows my mind. How do people create historical trends for an asset that has only existed for 10 years? The stock and bond market both just dropped >10%. That's never happened in the history of US markets yet we're going to assign some significance to the few trends that have developed in a speculative asset with the lifespan of a child?

It makes no sense.
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Perhaps that's what happens when the dollar itself goes from "safe haven" to speculative asset.
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gasdoc77 said:
Perhaps that's what happens when the dollar itself goes from "safe haven" to speculative asset.
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Come on - the dollar isn't a "speculative asset" in any sense of the word. It's backed by the largest economy, military, and nuclear arsenal on the planet. For decades other players in the world have been sorta kinda attempting to conjure an alternative to the "petrodollar" and at the rate they're going, by the time they figure something out, we won't be burning oil for anything any more.

That's not to say there aren't issues with the dollar - it's obvious that the spiraling national debt can only ever be managed by inflating away its actual value and cost to service. But that doesn't make the dollar speculative, except perhaps to a small fraction of people who are engaged in currency trading.

It's just comical to hear the bitcoin rallying cry centered around it being an alternative to the fiat dollar backed by nothing, or a store of value, because god knows it isn't the least bit useful for actually buying (non-black-market) stuff.

What'll be exceptionally comical is if bitcoin continues this plunge to a level below its price when this thread was started. Buying opportunities all the way down, I guess. Diamond hands hodl to the moon. Maybe Elon will tweet something about it and give it a bump.

I hope some of you managed to sell higher than you bought, and at least extracted some money from all the greater fools out there.
 
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pgg said:
Come on - the dollar isn't a "speculative asset" in any sense of the word. It's backed by the largest economy, military, and nuclear arsenal on the planet. For decades other players in the world have been sorta kinda attempting to conjure an alternative to the "petrodollar" and at the rate they're going, by the time they figure something out, we won't be burning oil for anything any more.

That's not to say there aren't issues with the dollar - it's obvious that the spiraling national debt can only ever be managed by inflating away its actual value and cost to service. But that doesn't make the dollar speculative, except perhaps to a small fraction of people who are engaged in currency trading.

It's just comical to hear the bitcoin rallying cry centered around it being an alternative to the fiat dollar backed by nothing, or a store of value, because god knows it isn't the least bit useful for actually buying (non-black-market) stuff.

What'll be exceptionally comical is if bitcoin continues this plunge to a level below its price when this thread was started. Buying opportunities all the way down, I guess. Diamond hands hodl to the moon. Maybe Elon will tweet something about it and give it a bump.

I hope some of you managed to sell higher than you bought, and at least extracted some money from all the greater fools out there.
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Good post. Small correction, in terms of simple numbers, the Russia has more nuclear weapons than we do. This doesn’t diminish your point, but I think it important from a geopolitical perspective.
 
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Bryan O’Blivion said:
Good post. Small correction, in terms of simple numbers, the Russia has more nuclear weapons than we do. This doesn’t diminish your point, but I think it important from a geopolitical perspective.
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True enough, though (to stray off topic a bit) after watching the Russians in Ukraine the last few months, I wonder how many of their nuclear weapons could leave the ground, fly anywhere, and actually blow up ...

I'm sure the answer there is "enough" but I do wonder.
 
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BLADEMDA said:
A purely speculative asset with no intrinsic value is going to drop a lot during a bear market and a recession. Gold is a speculative asset as well but has a 3,000 + year track record as being used for currency and trade.

If you like to buy speculative assets the currently crypto winter is the time to buy crypto like Bitcoin or Ether not when the hype was in full swing.

“Historically, Bitcoin tends to wick -14% to -28% below the 200-week moving average. A -14% wick this time around would translate to a ~$19,000 BTC. A -28% wick would mean Bitcoin could reach as low as ~$15,500 before reversing to the upside.”
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as for gold, LOL at the hedging against inflation it was supposed to provide
 
pgg said:
True enough, though (to stray off topic a bit) after watching the Russians in Ukraine the last few months, I wonder how many of their nuclear weapons could leave the ground, fly anywhere, and actually blow up ...

I'm sure the answer there is "enough" but I do wonder.
Click to expand...
 
BLADEMDA said:
KEY POINTS
  • The price of bitcoin fell 9% in 24 hours to $19,217.81, according to Coin Metrics data. The last time bitcoin fell below that level was December 2020.
  • Ether, the second-largest token, plunged 10% to $997.75, its lowest level since January 2021.
  • Crypto investors are grappling with aggressive interest rate hikes from the U.S. Federal Reserve and a worsening liquidity crunch.
Click to expand...

Are people buying these speculative high risk crypto on margins?
 
coffeebythelake said:
Are people buying these speculative high risk crypto on margins?
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Crypto buyers are gamblers so I'm sure many are on margin, whether it's their crypto account on margin or in their stock trading accounts to provide the capital to buy crypto outright. But I'm sure the answer is yes.
 
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Direct Laryngoscopy said:
To the young medical student, residents and attending that are just starting out, learn about what money is, this new asset class how the world is changing and ask yourself, do you wanna be an early adopter or a laggard? When BTC hits 100K, the average person won’t be able to afford a full BTC.

BTC is digital gold and a way to store your hard work (energy) for tomorrow (time). BTC is scarce (21 million), divisible (1 BTC is broken into 100,00,000 pieces called satoshi), portable (global money that can be moved easily with an internet connection), permissionless and uncensorable (no bank can deplatform you and stop you from transacting on a peer to peer basis). This invention is akin to the invention of printing press did for communication.
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as crypto continues to function like a leveraged stock fund, just a reminder to never consider it digital gold or a store of value in any way.
 
Wow I am impressed by ETH. It went from sub 900 to over 1500 in a month. Volume is pretty good too. BTC volume is the highest I've seen in months.
 
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I bet Tesla regrets accepting BTC as payment.
 
The pump is back.
 
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My crypto portfolio is down 49%.
 
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Z-Qualizer said:
Sorry to hear… stay strong bud
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Appreciate it… learned a lot this year. My advice for any new investor is to go in slowly. Sucks to go all in at the height of a 10 year bull market.
 
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BTC is a hedge on the federal reserve money printing. Contraction of the economy won’t help any asset in price. Thats why BTC went from a low of 4K in March of 2020 (like everything else). Then we had some of the greatest of money printing this country has ever seen. And BTC went to 68K.
 
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Direct Laryngoscopy said:
BTC is a hedge on the federal reserve money printing. Contraction of the economy won’t help any asset in price. Thats why BTC went from a low of 4K in March of 2020 (like everything else). Then we had some of the greatest of money printing this country has ever seen. And BTC went to 68K.
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And that's why it went to 20k. Because the money supply shrank.
 
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GassYous said:
And that's why it went to 20k. Because the money supply shrank.
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Yes. The market is so nascent and small. But until we see a decoupling (mass adoption). It’ll move with the central banking policies. If you think the The Federal Reserve won’t ever money print again, dont look for hedges against currency debasement. It’s pretty much certain we’ll see central bank balance sheet expansion beyond the current 8 trillion+ they have.
 
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mentos said:
It already started. I'm just hoping it doesn't dump.
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I’m still down slightly, so I need it to pump harder 😂

I don’t think it will dump before the merge. Typically the dump/sell-off happens right after these events.
 
The Merge sounds like a nothing burger.

"The Merge will not reduce gas fees, make transactions faster, or enable withdrawal of staked ETH.

These changes will happen with the subsequent completion of the Surge, Verge, Purge, and Splurge phases and the Shanghai upgrade."

coingape.com

Just-In: The Merge Will Not Impact Gas Fees, Transaction Speed, ETH Staking

Ethereum.org has updated 8 misconceptions about the Merge including gas fees, transaction speed, and Ethereum (ETH) staking.
coingape.com coingape.com
 
mentos said:
The Merge sounds like a nothing burger.

"The Merge will not reduce gas fees, make transactions faster, or enable withdrawal of staked ETH.

These changes will happen with the subsequent completion of the Surge, Verge, Purge, and Splurge phases and the Shanghai upgrade."

coingape.com

Just-In: The Merge Will Not Impact Gas Fees, Transaction Speed, ETH Staking

Ethereum.org has updated 8 misconceptions about the Merge including gas fees, transaction speed, and Ethereum (ETH) staking.
coingape.com coingape.com
Click to expand...
Yes, that’s all true… the big highlight of the merge is that ETH becomes deflationary (see last paragraph in your link). It’s supposed to have a similar effect to bitcoin halving (except stronger?). Your source says it will take 6-8 months, but no one really knows. Keeping my fingers crossed.
 
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mentos said:
The Merge sounds like a nothing burger.

"The Merge will not reduce gas fees, make transactions faster, or enable withdrawal of staked ETH.

These changes will happen with the subsequent completion of the Surge, Verge, Purge, and Splurge phases and the Shanghai upgrade."

coingape.com

Just-In: The Merge Will Not Impact Gas Fees, Transaction Speed, ETH Staking

Ethereum.org has updated 8 misconceptions about the Merge including gas fees, transaction speed, and Ethereum (ETH) staking.
coingape.com coingape.com
Click to expand...

Proof of work to proof of stake. The merge is a huge deal (as far as questionable digital currencies go).
 
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This thread got real quiet.
 
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I can see a future for Ethereum as the major Crypto in terms of market share with Bitcoin being number 2. I recognize there is no intrinsic value to Bitcoin but the Ethereum network seems to be quite functional. What does that mean to the value/price of ETH going forward? I don't know but at least one can make a strong case that ETH does have value and functionality going forward.

www.barrons.com

Ethereum’s Big Moment Is Coming With ‘The Merge.’ What It Means for Crypto.

The Ethereum network is heading for a major network upgrade with much lower energy consumption. It could fuel gains in the token and crypto overall.
www.barrons.com www.barrons.com
 
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The only thing guaranteed when it comes to crypto investing is volatility, so investors should expect more of it in the next few years. Nearly one year ago, ethereum’s price swung as high as $4,800 and now it’s back down below $2,000. This is how high or low ethereum’s price could go in the next few years, according to the experts we talked to:

YearPotential HighPotential Low
2022$4,500$500
2023$5,000$2,400
2025$10,000$5,700
2030$15,000$5,000


time.com

Experts Predict How High Ethereum’s Price Could Go in 2022, a ‘Make-or-Break Year’

Ethereum is the most popular altcoin. Here’s what experts and crypto insiders predict will happen to its price in 2022.
time.com time.com
 
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BLADEMDA said:
I can see a future for Ethereum as the major Crypto in terms of market share with Bitcoin being number 2. I recognize there is no intrinsic value to Bitcoin but the Ethereum network seems to be quite functional. What does that mean to the value/price of ETH going forward? I don't know but at least one can make a strong case that ETH does have value and functionality going forward.

www.barrons.com

Ethereum’s Big Moment Is Coming With ‘The Merge.’ What It Means for Crypto.

The Ethereum network is heading for a major network upgrade with much lower energy consumption. It could fuel gains in the token and crypto overall.
www.barrons.com www.barrons.com
Click to expand...

The merge came and went, now what?
 
BLADEMDA said:
The only thing guaranteed when it comes to crypto investing is volatility, so investors should expect more of it in the next few years. Nearly one year ago, ethereum’s price swung as high as $4,800 and now it’s back down below $2,000. This is how high or low ethereum’s price could go in the next few years, according to the experts we talked to:

YearPotential HighPotential Low
2022$4,500$500
2023$5,000$2,400
2025$10,000$5,700
2030$15,000$5,000


time.com

Experts Predict How High Ethereum’s Price Could Go in 2022, a ‘Make-or-Break Year’

Ethereum is the most popular altcoin. Here’s what experts and crypto insiders predict will happen to its price in 2022.
time.com time.com
Click to expand...

It's below 1300 now. So it will be no lower than 2400 in two months on January 1? Sweet.
 
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pgg said:
I want to hear more about NFTs changing the world.
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It's starting with video games, they've already got em. I'm most familiar with Gods Unchained which is like a card game. I expect music and video will soon follow especially with the news of stadia shutting down and people losing ALL of their data, save games etc etc
 
mentos said:
This thread got real quiet.
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Screenshot_20221012-124456~2.png


Because who knew friggin BITCOIN would become the most rock stable least volatile investment the last 4 months? Unbelievable.
 
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