cryptocurrency forum (bitcoin and more)

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owlegrad said:
I stand corrected. No doubt 27k is fair value for the ability to pay for pornhub.
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That's just the value of Bitcoin, there are other cheaper cryptos but not really sure how payment works. I don't even know if you can buy a fractional Bitcoin.
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mentos said:
That's just the value of Bitcoin, there are other cheaper cryptos but not really sure how payment works. I don't even know if you can buy a fractional Bitcoin.
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You can buy fractional coins. I accumulated all my btc on day over past year with some big buys mixed in.

Also earning interest in some of my apps -- 6% based on btc (not usd)
 
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owlegrad said:
Did crypto really go from 20 K to 5K?

I feel like there’s a little bit of a strawman argument going on here. is anyone here actively trying to claim that crypto has value other than as a speculative investment?
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Don’t think anyone is debating it’s speculative (and should reevaluate if so). I just don’t think risk adjusted fair value is 0 or anywhere close to zero as others believe - regulatory risk is not 100% and tech disruption is not likely at this juncture (and bitcoin will evolve alongside developments)

There’s a Keynesian beauty contest going on as everyone tries to guess the value others assign (as happened to Tesla with its ridiculous PE). The real question is whether one believes bitcoin will earn a reputation as a reliable store of value (ie digital gold). Volatility may decrease over time as liquidity improves. If it does, fair value could be in the multi 100k

Doubt that discussion will get more nuanced than “its worthless fake internet money” and “it’ll moon” but both stances are intellectually lazy
 
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Jbrl said:
Don’t think anyone is debating it’s speculative (and should reevaluate if so). I just don’t think risk adjusted fair value is 0 or anywhere close to zero as others believe - regulatory risk is not 100% and tech disruption is not likely at this juncture (and bitcoin will evolve alongside developments)

There’s a Keynesian beauty contest going on as everyone tries to guess the value others assign (as happened to Tesla with its ridiculous PE). The real question is whether one believes bitcoin will earn a reputation as a reliable store of value (ie digital gold). Volatility may decrease over time as liquidity improves. If it does, fair value could be in the multi 100k

Doubt that discussion will get more nuanced than “its worthless fake internet money” and “it’ll moon” but both stances are intellectually lazy
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lmfao

I hate to break out to you, but your take is no more nuanced than anyone else's.
 
Jbrl said:
Don’t think anyone is debating it’s speculative (and should reevaluate if so). I just don’t think risk adjusted fair value is 0 or anywhere close to zero as others believe - regulatory risk is not 100% and tech disruption is not likely at this juncture (and bitcoin will evolve alongside developments)

There’s a Keynesian beauty contest going on as everyone tries to guess the value others assign (as happened to Tesla with its ridiculous PE). The real question is whether one believes bitcoin will earn a reputation as a reliable store of value (ie digital gold). Volatility may decrease over time as liquidity improves. If it does, fair value could be in the multi 100k

Doubt that discussion will get more nuanced than “its worthless fake internet money” and “it’ll moon” but both stances are intellectually lazy
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This is practically what I'm saying. It's pointless and the only actual reason it was created was so the winklevoss twins can get wealthy. Just stop and think for a second why we have so many different crypto, everyone just wants in on the action.

We don't need another store of wealth.

If people are confident they won't be left holding the bag, invest all you want. I'm not saying it's a bad investment, just a volatile one Just don't think it actually has any needed purpose
 
What's funny is gold bugs hate crypto since they are taking away their clients.
 
wagrxm2000 said:
We don't need another store of wealth.
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I welcome all forms of wealth now. I've given up on trying to understand why people pay what they do for these things. I bought a little PHUN on Monday and I'm already up 15%.

The same things can be said for one of your favorite stocks, Tesla. There's no way in hell it's worth $695 ($3,475 presplit) now or anytime in the near future. Maybe in like ten years. Toyota sells 10 million cars per year and Tesla sells like 550k.
 
Well, I can't get a 3080 anywhere to play cyberpunk. Wtf brah. This guy seems to be making 10k/mo by paying his utility bill. Leave some GPU for me.

www.hardwaretimes.com

Mining Farm with 78 PNY GeForce RTX 3080s Spotted: Capable of Gen $128,088 Per Year

A mining farm has been spotted in the US with as many as 78 PNY GeForce RTX 3080 graphics cards. n a world where it’s hard to find a single gaming or video editing graphics card this miner managed to buy nearly a hundred of them: One hundred of NVIDIA’s fastest GPUs for a single …
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Avex007 said:
I am new to investing but can anyone explain how bitcoin has so much value? No major shopping and stores accept bit coins, so it seems worthless. Is there an underground bank/ industry driving its value up (aside from dark web business)? Maybe the value is driven by the black markets?
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I have only rudimentary knowledge but as I understand it involves a combination of inherent security aspects (controlled supply being one) with a low overhead for conducting secure transactions vs traditional methods (eg, how much does it cost to distribute a 600$ stimulus to every person?).
 
Anyone get dogecoin?
 
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I'm willing to put $1000 into dogecoin. What's the easiest way to buy, Robinhood?
 
Threw 2k at BTC this morning and saw it already pumped 10% and I got slayed at 33.1k per coin.
 
mentos said:
What does slayed mean?
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It means that at the time I put it in, the cost per coin happened to be at a peak and went down a few percent immediately. My money "got killed" although it's a short term position and I don't expect to double in 10 minutes. I have wry sense of humor about the situation.
 
Schwimmy said:
It means that at the time I put it in, the cost per coin happened to be at a peak and went down a few percent immediately. My money "got killed" although it's a short term position and I don't expect to double in 10 minutes. I have wry sense of humor about the situation.
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Oh I see. Happens to me all the time with stocks LoL.
 
Please don't be left holding the bag everyone
 
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mentos said:
He's talking about the BABA he bought a couple months ago 🤣
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I will have the last laugh with BABA. You're looking at 30% gains from this level when it's back to 300.
 
wagrxm2000 said:
I will have the last laugh with BABA. You're looking at 30% gains from this level when it's back to 300.
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I know it will go up but will probably take a while. Many better options to make money in the meantime.
 
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mentos said:
I know it will go up but will probably take a while. Many better options to make money in the meantime.
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If you could put $100k in anything right now where would you put it?

Not $1k but $100k
 
wagrxm2000 said:
If you could put $100k in anything right now where would you put it?

Not $1k but $100k
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Definitely Dogecoin. It's going to the moon!!!

I remember gambling these for 10k per bet; it's free back then.
 
wagrxm2000 said:
[
If you could put $100k in anything right now where would you put it?

Not $1k but $100k
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Probably ARKG. Why do you keep bringing up 100k? Did you buy 100k of BABA?
 
TheBlaah said:
Just sold 8k ethereum for ~210% gains. Probably gonna buy again once it goes down 10%, I'm not entirely convinced the big run up is over yet.
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wrong move. Big gain is just getting started. There will come a day when ETH will move up per day by a few Ks. Holding now 1090 ETH bought ~260 and getting free 1.80-2.0 ETH per week due to staking via Kraken.

I don’t plan to sell this future world currency
 
wagrxm2000 said:
Its interesting how the crypto thread was dead while everything was down. Now all of a sudden its relevant again.

What has changed this year?
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I bought my position July of 2019. Nothing has changed for me. Chilling and enjoying the fruit of profit now.

Would say that everyone needs exposure to the future world currencies in either ETH BTC. ETH is the platform or ecosystem for blockchain. Every apps and developers are building on Ethereum network. It’s like buying digital real estate for future commerce done via smart contract in the future. Can only go up from here.

Do more research before calling it tulip. Tulip went up once and crashed to death. BTC and ETH corrected and now making new highs. Technically, that pattern should caution you that there is an underlying story that you’re missing.
 
CocoMelon0531 said:
wrong move. Big gain is just getting started. There will come a day when ETH will move up per day by a few Ks. Holding now 1090 ETH bought ~260 and getting free 1.80-2.0 ETH per week due to staking via Kraken.

I don’t plan to sell this future world currency
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How does staking work?
 
mentos said:
How does staking work?
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basixally lock your holding for a year to two years and getting annual return somewhere bet 6-12%.

You better believe in the technology and be a long term holder to pursue this move. I’m a firm believer in blockchain tech and smart contract and am willing to hold it for the next 2-3 years min.

Wouldn’t recommend it if you just want to make a quick buck. My long term price projection for BtC is bet 500K to 1 mil and for ETH ~50K to 70K
 
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CocoMelon0531 said:
basixally lock your holding for a year to two years and getting annual return somewhere bet 6-12%.

You better believe in the technology and be a long term holder to pursue this move. I’m a firm believer in blockchain tech and smart contract and am willing to hold it for the next 2-3 years min.

Wouldn’t recommend it if you just want to make a quick buck. My long term price projection for BtC is bet 500K to 1 mil and for ETH ~50K to 70K
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I just signed up for Robinhood. Is it safe for buying crypto? I'm willing to buy 1k ETH and uninstalling the app.
 
mentos said:
I just signed up for Robinhood. Is it safe for buying crypto? I'm willing to buy 1k ETH and uninstalling the app.
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Can’t stake with robinhood. You need Kraken. To be honest, the best exchanges for security are coinbase and kraken. Kraken has lower fees. Robinhood doesn’t give you access to the actual ETH or BTC on the blockchain. Open a Kraken account and thank me later
 
mentos said:
Probably ARKG. Why do you keep bringing up 100k? Did you buy 100k of BABA?
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Because you keep bringing up all these penny stocks. You're risk tolerance better go way down when you start investing significant amount of money.

My worry is everytime your stocks go down you'll sell like you are now.
 
CocoMelon0531 said:
Can’t stake with robinhood. You need Kraken. To be honest, the best exchanges for security are coinbase and kraken. Kraken has lower fees. Robinhood doesn’t give you access to the actual ETH or BTC on the blockchain. Open a Kraken account and thank me later
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Thanks for info. I'm just playing with 1k or 2k now, if I invest more then I'll get Kraken or coinbase.
 
wagrxm2000 said:
Because you keep bringing up all these penny stocks. You're risk tolerance better go way down when you start investing significant amount of money.

My worry is everytime your stocks go down you'll sell like you are now.
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My 401k and Roth are all index funds.

Idk why you keep bringing this up, I keep saying this is play money. This is like going to someone at a $5 roulette table and telling them "what if you were betting $1,000 at a time?". Obviously we wouldn't be as risky with more money.
 
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Full disclosure for my ETH position.

Right now, waiting time to be staked is bet 2-3 weeks. So you won't see the actually return by week 4 nowadays

I act on what I preach here.
 

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wagrxm2000 said:
Because you keep bringing up all these penny stocks. You're risk tolerance better go way down when you start investing significant amount of money.

My worry is everytime your stocks go down you'll sell like you are now.
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Poster above has literally thousands of ETH coins and you're giving me grief for thinking about buying 1 or 2? LoL.
 
CocoMelon0531 said:
Full disclosure for my ETH position.

Right now, waiting time to be staked is bet 2-3 weeks. So you won't see the actually return by week 4 nowadays

I act on what I preach here.
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Is kraken better than Celsius or binance?
I use these two plus crypto.com (don't laugh) for my stakes. I have some in colsld storage.

I most have btc but some eth and dot too.
 
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