Cryptocurrency

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podfam3008

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Alright pod friends, who has invested in cryptocurrency, which ones, and any luck? I wanted to gain more knowledge on this topic. Which resources did you use to decide which ones to invest in?
 
Download lunar crush. Important app in terms of seeing what’s going on in crypto.

Side note: look into Kadena (KDA). The only layer 1 POW blockchain that’s solves the blockchain trilemma. Their blockchain chain technology is revolutionary.
 
I’ve basically been able to be able to pay off most of my tuition with my crypto net earnings throughout the years with the guidance of a motivated and brilliant friend. The marketing exchange has grown a lot but opportunities that once existed are no longer available.
 
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futurenjdoc said:
I’ve basically been able to be able to pay off most of my tuition with my crypto net earnings throughout the years with the guidance of a motivated and brilliant friend. The marketing exchange has grown a lot but opportunities that once existed are no longer available.
Click to expand...

What did you buy and when?
 
FootDoc99 said:
Download lunar crush. Important app in terms of seeing what’s going on in crypto.

Side note: look into Kadena (KDA). The only layer 1 POW blockchain that’s solves the blockchain trilemma. Their blockchain chain technology is revolutionary.
Click to expand...

KDA has backing from JPMorgan I believe. Very strong team
 
I’m not smart enough to grasp the entire crypto thing. I’m still trying to figure out how to cash in my Monopoly money.
 
ExperiencedDPM said:
I’m not smart enough to grasp the entire crypto thing. I’m still trying to figure out how to cash in my Monopoly money.
Click to expand...
Yeah, crypto never made sense to me, so I guess I just quit right there.

I think it's funny how most people trading bitcoin or ether or etc have never actually bought anything with it. Then again, I've bought stocks of companies whose goods/services I never use. The digital coin IPOs and supply and splits and stuff definitely seem murky to me. I couldn't even start to grasp what a blockchain or NFT market is. I dunno. I'm old.

I'm not knocking ctypyo... I realize I know nothing and some people do well on it. It is likely here to stay as US digital dollars (which Saudi and Russia probaly won't take in trade for oil any more than they will regular US dollars?). We shall see to what extent crypto and blockchain ends up being impactful. My old fear was that crypto came from nothing and could go to nothing again, but that seems increasingly unlikely for the main ones now.

At the end of the day, there are just a lot of other stock market, optimize career, invest in surg cntr /pharm /sx equip companies, precious metals, pay debt, keep cash savings for opportunities, etc ways to make money that I understand. I wouldn't trade one share of my Google or local surgical equip company for one Bitcoin, and while that's probably dumb, I just stick to what I know.
 
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Feli said:
Yeah, crypto never made sense to me, so I guess I just quit right there.

I think it's funny how most people trading bitcoin or ether or etc have never actually bought anything with it. Then again, I've bought stocks of companies whose goods/services I never use. The digital coin IPOs and supply and splits and stuff definitely seem murky to me. I couldn't even start to grasp what a blockchain or NFT market is. I dunno. I'm old.

I'm not knocking ctypyo... I realize I know nothing and some people do well on it. It is likely here to stay as US digital dollars (which Saudi and Russia probaly won't take in trade for oil any more than they will regular US dollars?). We shall see to what extent crypto and blockchain ends up being impactful. My old fear was that crypto came from nothing and could go to nothing again, but that seems increasingly unlikely for the main ones now.

At the end of the day, there are just a lot of other stock market, optimize career, invest in surg cntr /pharm /sx equip companies, precious metals, pay debt, keep cash savings for opportunities, etc ways to make money that I understand. I wouldn't trade one share of my Google or local surgical equip company for one Bitcoin, and while that's probably dumb, I just stick to what I know.
Click to expand...
I’ve cashed out 80% of my earnings . It’s complex but it’s possible. going through lawyers to have it taxed was a nightmare because nobody understands it. I literally has to make my own algorithm to break it down to layman terms

NFTs are scams . My opinion
 
Not all NFTs are scams...but maybe I'm biased 🤣
 
1652144849424.png


I told myself I'd buy $100-200 a week but it took forever to get verified and then I never bought again after the first and maxed ROTH/401k. Now I will just be scowling for the rest of the year and trying to not look at my accounts.
 
heybrother said:
View attachment 354510

I told myself I'd buy $100-200 a week but it took forever to get verified and then I never bought again after the first and maxed ROTH/401k. Now I will just be scowling for the rest of the year and trying to not look at my accounts.
Click to expand...
I checked my retirement accounts today "just for fun"
It wasnt fun
I wont look again for another year at least. It was depressing.
In my short time investing its been nothing but bull markets.
This is my first bear. I know it will recover. Dont panic/sell etc.
But it is hard to look at!

ADA way down. Cutswithfury cant be feeling too cheery these days.
 
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Well there goes the lambo
 
That’s the problem with amateur investors. COVID, possible WW3, forced recession in 2023. We can’t get a break.

Institutions are heavy into crypto. If the stock market tanks so does crypto.

ADA is building to position itself as the premier blockchain that can be utilized in reality.

AVAX, SOL, LUNA, FTM have all demonstrated that they are artificially elevated in price based on ponzi tokenomics.

ETH is broken and they are trying to move to proof of stake (something Cardano is already doing) but can’t get it together.

Can you make great money trading these scam coins? Hell yes you can. Or you can invest in something that’s setting itself up as the most legitimate entity in blockchain and make amazing money in the future.

BTC is useless and it has artificial value. It has no use case and can’t execute smart contracts. It’s only a matter time when the most used blockchain de pegs from BTC and doesn’t follow its value. That will be cardano. Anyone who accumulated cardano will be rich eventually.

Plus I’ve been accumulating other coins on the cardano blockchain that haven’t even launched yet.
 
No sell, no money lost. Just hold on to what you got, and now everything is on sale if you want to buy more...same goes for the markets. Everything will correct itself eventually.
 
When does ADA go to moon?
 
Bombs, inflation, speculation of hedgefund crypto manipulation

No one knows for sure but this will likely continue to drop in addition to just about everything in the market.
 
toes701 said:
bought the ADA dip. I trust @CutsWithFury
Click to expand...



Watch this. This all you need to know about Cardano. The most legit blockchain in crypto. All the other chains are ponzis. Crypto itself hasn’t solved anything in terms of decentralized finance. The technology can certainly be leveraged to do so but it requires a blockchain that can handle billions of users. That’s where cardano comes into play.
 
For anyone who didn't get in on the recent bull cycle now is the time to dollar cost average in for the next 12-16 months on your favorite cryptos.

Since I read about this stuff daily I will catch you up to speed on my opinion (not financial advice).

What is the point of cryptocurrency? The point is to utilize the benefits of a decentralized blockchain technology to increase transparency and exclude traditional third party financial organizations from influencing/intruding on our ability to conduct transactions with each other and entities we wish to do business with. That's it. That is the main point of cryptocurrency. Everything we currently deal with when it comes to money is centralized (banks, etc).

Inflation honestly helps/justifies the need for cryptocurrency. A lot of third world countries deal with terrible inflation already. USA is not far behind. Everything that has happened now has justified the need for an alternative source of transfer of value.

This brings us to the top Blockchains...

BTC - digital gold. It's too slow and you can't run smart contracts. Outside of its value it essentially does nothing.

Ethereum - runs smart contracts. It was the first chain to achieve this hence why it is so valuable. But fees are ridiculously high and any real fortune 500 company would never commit to losing hundreds or even thousands of dollars per transaction on the blockchain. ETH is trying to switch from proof of work (transactions validated on the blockchain by miners) to proof of stake. It's not going well and many believe they will ultimately fail because its too hard to chain the internal infrastructure of your blockchain. In my opinion ETH is broken and will lose value as Cardano and/or Avalanche take over in the future.

Solana - centralized. Controlled by a few. Shuts down frequently. It can not scale (can not tolerate too many transactions at one time). Essentially everything that crypto was designed NOT to be. It only became popular because so many people shill it on crypto twitter

Polkadot - The creator of it used to be apart of the original ETH team and stole a lot of his ideas for proof of stake network from cardano's original white papers. It had a lot of hype but similar to ETH it has not been able to get off the ground and run smart contracts.

Fantom - centralized. Controlled by a few. One of the lead devs left FTM for good and the value of the chain was cut by 50% in a few days and has not been able to rebound. One dev should not be able to shutdown a blockchain but for FTM it has. The point of a blockchain is that anyone can learn the code and build on that chain. That fact that one dev has caused people to lose confidence in it means they don't have a lot of talented devs building on it in the first place. I do not consider this a real blockchain that the world can use. It can not scale (can not tolerate too many transactions at one time).

LUNA - responsible for the recent crypto crash. Was based off ponzi tokenomics where the price was correlated to a stable coin on the LUNE network. A stable coin is supposed be backed by real money. Unfortunately the stable coin on their network de-pegged. This means that 1 $UST on their network was no longer worth $1 dollar. I don't know the specifics but ultimately the price of LUNA crashed as well because of this de-pegging. The blockchain had to sell a lot of its money reserves in BTC, ETH and other digital assets to try and raise the price of $UST on their network. In return this crashed the prices of those assets as well. Essentially this blockchain was based on a lie and a lot of investors got destroyed.

Avalanche - centralized. It works. It has a large user base. Very smart devs. They are using sub nets to offload traffic to keep fees down and to help with scaling. I'll be honest this is a solid blockchain to DCA into. I would put this on your list of buys.

Cardano - my personal favorite. Cardano runs itself like a business and is really targeting fortune 500 companies and Africa as their main targets to bring financial freedom to those burdened by biased organizations in some of these corrupt third world countries. It's based on robust research. Cardano has really taken its time to develop. This also has been its biggest source of FUD from competitors. All the other blockchains I mentioned before have launched smart contracts before cardano. But as we have seen and as I have explained these other chains are built on poor fundamentals and ultimately can NOT scale. Scaling is the KEY. If your chain can not accommodate billions of users without crashing or causing fees to do transactions to sky rocket then what is the point? These are some of the problems that cardano has been really working on for almost 7-8 years now.

The failures of the above chains really shows that cryptocurrency is in its infancy. Zoom out. There are trillions of dollars that eventually will come into the blockchain technology domain. It will happen. So just imagine what the marketcap of some these chains that survive will be. Investing now is like buying apple or amazon in the beginning. You don't have to go all in. But if you have extra cash now is the time to dollar cost average in. I do see BTC crashing further which drives down the price of everything.

What has changed significantly is that stocks and crypto are now tied together. If crypto is doing bad so do stocks. There is so much institutional money in blockchain technology and once we get a chain that actually works and scale the world then this technology can be leveraged/used by anyone. From the fortune 500 company to the farmer in Africa. That is where this is going.

Crypto moves at a frantic pace in terms of development. But I am telling you what I see. What I see is that we haven't even touched the capabilities of what crypto will really be. Right now it is a bunch of clowns on the internet buying $hitcoins that randomly pump. Making people a lot of money over night but also seeing people losing everything.

In summary. Cardano and Avalanche are the chains to DCA into during this bear market. They are safe. Everything else is noise and hype. SOL, LUNA, FTM, DOT were all the rage leading up to the last bull cycle. Now they have been proven to be broken. They won't work. Ultimately they will die out during this long bear market I anticipate will last all of 2022 and 2023.

2024 you should be locked in positions you can live with. I anticipate that is when crypto will get serious again. I also anticipate either cardano and avalanche will really distinguish themselves.

Again not financial advice.
 
I like AVAX and ADA.
I would add XRP to that list as well as PYR. I have a list of others but if I had to choose I would say those. In order it would be
XRP, AVAX, ADA, PYR

If you use traderjoexyz.com then you can steak AVAX and JOE
XRP doesn't have a DeFi for passive yet but there are "centralized" ones out that, I am getting 6% on one now. As well as 12% on USDC.

I agree with what was said about. ETH is broke. BTC has first comer status and so it is just a store of value but its slow and expensive to move.

-If you can earn passive income on them, preferably decentralized. If you give it to a 3rd party then you risk loosing it.
-Dollar cost average in. Just do a set amount regardless of how the market is doing.
-Make sure you write down your keys cause if you loose your app/computer you need those to access the crypto.
-Just read and watch YouTube videos and do not get lost in the hype or FOMO into something. There are lots of "influencers" who get paid a lot to get people to buy into a certain crypto.
-Look at the use case for the crypto. Is it trying to do the same thing as a thousand others are? Who started the project? Are they anonymous?
-Most of the crypto that is out there now wont be around in 5-10 years so finding something with a use case and solid team is important.... Not to say stupid things wont make a lot of money like Dogecoin or Shiba Inu
-Diversify just like in the stock market
 
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CutsWithFury said:
For anyone who didn't get in on the recent bull cycle now is the time to dollar cost average in for the next 12-16 months on your favorite cryptos.

Since I read about this stuff daily I will catch you up to speed on my opinion (not financial advice).

What is the point of cryptocurrency? The point is to utilize the benefits of a decentralized blockchain technology to increase transparency and exclude traditional third party financial organizations from influencing/intruding on our ability to conduct transactions with each other and entities we wish to do business with. That's it. That is the main point of cryptocurrency. Everything we currently deal with when it comes to money is centralized (banks, etc).

Inflation honestly helps/justifies the need for cryptocurrency. A lot of third world countries deal with terrible inflation already. USA is not far behind. Everything that has happened now has justified the need for an alternative source of transfer of value.

This brings us to the top Blockchains...

BTC - digital gold. It's too slow and you can't run smart contracts. Outside of its value it essentially does nothing.

Ethereum - runs smart contracts. It was the first chain to achieve this hence why it is so valuable. But fees are ridiculously high and any real fortune 500 company would never commit to losing hundreds or even thousands of dollars per transaction on the blockchain. ETH is trying to switch from proof of work (transactions validated on the blockchain by miners) to proof of stake. It's not going well and many believe they will ultimately fail because its too hard to chain the internal infrastructure of your blockchain. In my opinion ETH is broken and will lose value as Cardano and/or Avalanche take over in the future.

Solana - centralized. Controlled by a few. Shuts down frequently. It can not scale (can not tolerate too many transactions at one time). Essentially everything that crypto was designed NOT to be. It only became popular because so many people shill it on crypto twitter

Polkadot - The creator of it used to be apart of the original ETH team and stole a lot of his ideas for proof of stake network from cardano's original white papers. It had a lot of hype but similar to ETH it has not been able to get off the ground and run smart contracts.

Fantom - centralized. Controlled by a few. One of the lead devs left FTM for good and the value of the chain was cut by 50% in a few days and has not been able to rebound. One dev should not be able to shutdown a blockchain but for FTM it has. The point of a blockchain is that anyone can learn the code and build on that chain. That fact that one dev has caused people to lose confidence in it means they don't have a lot of talented devs building on it in the first place. I do not consider this a real blockchain that the world can use. It can not scale (can not tolerate too many transactions at one time).

LUNA - responsible for the recent crypto crash. Was based off ponzi tokenomics where the price was correlated to a stable coin on the LUNE network. A stable coin is supposed be backed by real money. Unfortunately the stable coin on their network de-pegged. This means that 1 $UST on their network was no longer worth $1 dollar. I don't know the specifics but ultimately the price of LUNA crashed as well because of this de-pegging. The blockchain had to sell a lot of its money reserves in BTC, ETH and other digital assets to try and raise the price of $UST on their network. In return this crashed the prices of those assets as well. Essentially this blockchain was based on a lie and a lot of investors got destroyed.

Avalanche - centralized. It works. It has a large user base. Very smart devs. They are using sub nets to offload traffic to keep fees down and to help with scaling. I'll be honest this is a solid blockchain to DCA into. I would put this on your list of buys.

Cardano - my personal favorite. Cardano runs itself like a business and is really targeting fortune 500 companies and Africa as their main targets to bring financial freedom to those burdened by biased organizations in some of these corrupt third world countries. It's based on robust research. Cardano has really taken its time to develop. This also has been its biggest source of FUD from competitors. All the other blockchains I mentioned before have launched smart contracts before cardano. But as we have seen and as I have explained these other chains are built on poor fundamentals and ultimately can NOT scale. Scaling is the KEY. If your chain can not accommodate billions of users without crashing or causing fees to do transactions to sky rocket then what is the point? These are some of the problems that cardano has been really working on for almost 7-8 years now.

The failures of the above chains really shows that cryptocurrency is in its infancy. Zoom out. There are trillions of dollars that eventually will come into the blockchain technology domain. It will happen. So just imagine what the marketcap of some these chains that survive will be. Investing now is like buying apple or amazon in the beginning. You don't have to go all in. But if you have extra cash now is the time to dollar cost average in. I do see BTC crashing further which drives down the price of everything.

What has changed significantly is that stocks and crypto are now tied together. If crypto is doing bad so do stocks. There is so much institutional money in blockchain technology and once we get a chain that actually works and scale the world then this technology can be leveraged/used by anyone. From the fortune 500 company to the farmer in Africa. That is where this is going.

Crypto moves at a frantic pace in terms of development. But I am telling you what I see. What I see is that we haven't even touched the capabilities of what crypto will really be. Right now it is a bunch of clowns on the internet buying $hitcoins that randomly pump. Making people a lot of money over night but also seeing people losing everything.

In summary. Cardano and Avalanche are the chains to DCA into during this bear market. They are safe. Everything else is noise and hype. SOL, LUNA, FTM, DOT were all the rage leading up to the last bull cycle. Now they have been proven to be broken. They won't work. Ultimately they will die out during this long bear market I anticipate will last all of 2022 and 2023.

2024 you should be locked in positions you can live with. I anticipate that is when crypto will get serious again. I also anticipate either cardano and avalanche will really distinguish themselves.

Again not financial advice.
Click to expand...

This is a good summary, appreciate you taking the time to help us random podiatric netizens! I thought BTC is the long game, but I’ll have to dig deeper into Cardano.
 
Bitcoin is set to drop to 10-11k in the next 12-18 months. That should be your opportunity to buy your favorite altcoins at epic low prices and HODL for bullrun 2024-2025 after we get out of this recession.
 
Hmmm, this might be my chance to upgrade to gold plated nail nippers
 
This MicroStrategy Bitcoin margin call issue is gonna wreck crypto prices.
It dipped 20,800 last night. Sub 21,00 is supposed to initiate the call.
Doesnt look like its been done yet.
 
DYK343 said:
This MicroStrategy Bitcoin margin call issue is gonna wreck crypto prices.
It dipped 20,800 last night. Sub 21,00 is supposed to initiate the call.
Doesnt look like its been done yet.
Click to expand...

Celsius, AAVE are getting liquidated which will crash the market as well. We are in the infancy of the technology. Bad projects and actors will get flushed out.

Cardano is bucking market trends and decoupling from the market. I’m bullish AF.

There is more pain coming. Get your fiat ready. 12-18 months of downtrend coming. Either DCA or wait for BTC to drop to 10–11k then go all in.
 
CutsWithFury said:
Celsius, AAVE are getting liquidated which will crash the market as well. We are in the infancy of the technology. Bad projects and actors will get flushed out.

Cardano is bucking market trends and decoupling from the market. I’m bullish AF.

There is more pain coming. Get your fiat ready. 12-18 months of downtrend coming. Either DCA or wait for BTC to drop to 10–11k then go all in.
Click to expand...
That’s why I keep stuffing my cash in my mattress.
 
Cardano making moves…



Also they add collaborating with Linux to bring more decentralization to the network.



So bullish on $ADA
 
I invested 100k in BTC at avg price of 35k. Down a lot. Don't be like me. Gonna sell it all if it ever comes back up to 50k again and buy an Audi R8
 
Feeter said:
I invested 100k in BTC at avg price of 35k. Down a lot. Don't be like me. Gonna sell it all if it ever comes back up to 50k again and buy an Audi R8
Click to expand...

You will regret it when it goes up to 100k next bull run.

The entire world economy sucks right now.

8.5 trillion dollars has left the stock market. We have a recession coming and inflation is at 10%. Housing market crash coming

Lots of pain and blood in the streets coming.

HODL. Diamond hands. Just do it.

Buy cardano
 
CutsWithFury said:
You will regret it when it goes up to 100k next bull run.

The entire world economy sucks right now.

8.5 trillion dollars has left the stock market. We have a recession coming and inflation is at 10%. Housing market crash coming

Lots of pain and blood in the streets coming.

HODL. Diamond hands. Just do it.

Buy cardano
Click to expand...
Yeah good thing BTC/ETH has acted like the promised hedge against inflation....
 
air bud said:
Yeah good thing BTC/ETH has acted like the promised hedge against inflation....
Click to expand...
You are so dumb sometimes. I don't know why I continue to talk to you in real life.

Crypto follows the stock market now. That was not always the case. But big players are in and bigger players are pushing down the price waiting for legitimate government regulations. Once those are set we will see crypto and blockchain technology accepted and literally explode.

Crypto is following the same trajectory of beginnings of the internet. We haven't even hit the start of mass adoption yet. Trillions are coming into crypto and blockchain technology. Fasten your seatbelt.
 
CutsWithFury said:
You are so dumb sometimes. I don't know why I continue to talk to you in real life.

Crypto follows the stock market now. That was not always the case. But big players are in and bigger players are pushing down the price waiting for legitimate government regulations. Once those are set we will see crypto and blockchain technology accepted and literally explode.

Crypto is following the same trajectory of beginnings of the internet. We haven't even hit the start of mass adoption yet. Trillions are coming into crypto and blockchain technology. Fasten your seatbelt.
Click to expand...
If you listened to Gary Gensler's recent comments you would be a little more pessimistic...
I know you are playing the long game, but maybe pay off your loans now than dump some money into ADA...there is time to get back in
 
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ToeFather said:
I'm about to start buying. I think the bear cycle is almost over.
Click to expand...

It’s not over. Crypto markets follow traditional markets. They are no longer separated. 8 trillion dollars left the stock market over the last 1.5-2 years. Not until people are confident in our economy and inflation improves so we see a turn around. I expect things to turn around in 2024-2025.

If you have specific price targets you are trying to hit based on historical data then dollar cost averaging is ok.
 
CutsWithFury said:
It’s not over. Crypto markets follow traditional markets. They are no longer separated. 8 trillion dollars left the stock market over the last 1.5-2 years. Not until people are confident in our economy and inflation improves so we see a turn around. I expect things to turn around in 2024-2025.

If you have specific price targets you are trying to hit based on historical data then dollar cost averaging is ok.
Click to expand...
Crypto's main selling point was that it is de-centralized and it is removed from traditional markets crashing. Now all the crypto hawks are saying "crypto markets follow traditional markets". It's like all the bag-holders are trying to rationalize their folly all the way down to a $0 balance.
 
Boba Foot said:
Crypto's main selling point was that it is de-centralized and it is removed from traditional markets crashing. Now all the crypto hawks are saying "crypto markets follow traditional markets". It's like all the bag-holders are trying to rationalize their folly all the way down to a $0 balance.
Click to expand...
You just used fancy words but do not understand what you said.

The selling point of cryptocurrency is decentralization meaning not relying on third parties to get stuff done. This is very much alive in crypto and there are several projects working towards programing to achieve this in a way that is interoperable with other blockchains, energy efficient (unlike bitcoin mining), and scalable (meaning billions of people can use the blockchain to execute everyday functions we do today in a decentralized manner on the blockchain without it crashing). This has never been done before therefore it takes years of programming and coding to get this done. Cardano is my personal favorite project that is trying to achieve all of this.

Big institutional money is in cryptocurrency whether they want to admit it or not. This is why crypto markets are following traditional markets. This is what I meant. Not that the fundamental principles of blockchain technology has changed.

They said these stupid things about the internet when it first launched. We haven't even gotten into the blockchain adoption phase yet. This is still the VERY beginning. Once cryptocurrency is regulated by the government in a way that doesn't handcuff it's ultimate potential we will see that adoption phase. This is when tens of trillions of dollars will flood the blockchain industry making early investors very rich. It's going to me be me. You just watch.
 
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