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Bitcoin, Cryptocurrency, Blockchain, and You: Navigating the Future of Tech (a NeoGAF discussion thread)
ThatStupidLion
Member
maybe, but i still dont think so
the last stall from 40 down to 30 was a 25% drop
to get a relatively equal percent drop this time around will move from 58 and bottom out at 43....
now every dip isn't the same, but my point is massive dips don't mean its the end of the bull run.
Wandering Leopard
Member
At the moment it seems like a really good time to buy, I'll be getting a little DOT when it drops even lower.
Ascend
Member
I suspect that Solana reacts later than the rest of the market. So it's likely to drop sometime soon as well. And it might be very nasty... All the way down to 4.5 to 5, from almost 15. Not saying that it will happen, but it can, and still be in a bull market uptrend... Nothing goes straight up forever. That's the technical side of it.SinceAscend mentioned Solana it’s rising. Even dispute today’s dips. What’s going on
I'm not a fan of using fundamentals as a reason to buy or sell, but, in this case the fundamentals can't be ignored. Fees on Ethereum are quite high.... Solana's fees are low, so, more people might switch to that instead of ETH. They already have multiple DEXs on their blockchain... Including Uniswap equivalents. Solana is the blockchain with the highest transactions per second capability, in the whole crypto space (higher than VISA even), meaning, transactions are bound to be cheaper than everywhere else.
As long as Solana is not hacked (it is the only blockchain to use time to build the chain, meaning it has not withstood the test of time like BTC and ETH), it's going to be the fastest one, and therefore the cheapest one to transact on.
When it pulls back, I think I'll buy more. I merely have a modest $95 in it (which is now $450).
Edit;
Leaving this here;
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kraspkibble
Permabanned.
I want to get into Bitcoin again but still feels like a lot of hassle for no real benefit. Not many places I shop use it. The fees are silly. And the price is unstable.
so im spending fees to just buy it and fees if I spend. If a retailer doesn’t accept it I need to buy a gift card. Also due to the ever changing price I avoid buying more than I need cause I could lose money.
what am I missing? are people just investing trying to make money or are people genuinely using it to replace normal money??
so im spending fees to just buy it and fees if I spend. If a retailer doesn’t accept it I need to buy a gift card. Also due to the ever changing price I avoid buying more than I need cause I could lose money.
what am I missing? are people just investing trying to make money or are people genuinely using it to replace normal money??
Ascend
Member
All I can say is... Don't be the guy buying a $40 pizza with 10k Bitcoin.
Ten Years Ago, Two Pizzas Were Purchased For 10,000 Bitcoins. Today, That's The Equivalent Of Over $400 Million
May 22nd, 2010: History was made when an early Bitcoin adopter named Laszlo Hanyecz purchased two large Papa John's pizzas from another Bitcoin use...
www.celebritynetworth.com
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ThatStupidLion
Member
does anyone know how or if I can move EOS to coinbase/pro?
the CB website says I can, but I dont see any info instructing me where to do it (on mobile). I need to double check on desktop still
the CB website says I can, but I dont see any info instructing me where to do it (on mobile). I need to double check on desktop still
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Ascend
Member
Can BINANCE Do It!? Will BNB Overtake ETHEREUM!?
Does Binance stand a chance to overtake ETHEREUM!? Could the BNB-ETH Flip happen in 2021!? A war for control of DeFi is ramping up between the two. Ethereum wants decentralization. Binance wants to sa...
open.lbry.com
Hnjohngalt
Member
In Crypto yeah. Been in Stock market since 1998. Crypto is like 2008 crash every other day. Very exciting stuff.
I saw this meme and its pretty spot on...
Hnjohngalt
Member
Just had 2 dips last sunday and monday. Me thinks its gonna rise more After tomorrow. Alot of fireworks may happen between stimulus vote and other stuff happening. Buckle up and hold on tight, is all i can suggest.
Ascend
Member
What just happened during this week was a correction. Right now I expect mostly consolidation. Depending on how that develops, we can expect it to correct more or start going up again. Too early to tell, but if I had to guess, I'd say we're going up again after consolidating.
Bunker Hosted
Member
Yes you are correct, really it depends on if you feel like disclosing which alts you are actually holding? Though note, if you are staking, you will need to be at least slightly technically incline. You will likely need to get a VPS (virtual private server). If you don't mind disclosing your alts, I can link you in a direction on how to stake.
Also note, generally you need a certain amount of coins to stake. For example, to join in on eth 2.0 staking; you must have at least 32 Eth, unless you are using something like rocketpool.
Bunker Hosted
Member
For VET, it seems it depends on how much effort you want to put into staking. You can use something like the Exodus wallet, where they actually have a built in staking wallet available (Though I am sure they take a slight % of your earned interest) You can check this link for more info: https://www.exodus.com/blog/vechain-staking/
On the other hand for VeChain, you can run your own nodes depending on how technically inclined you are; Though this can get quite complicated if you aren't familar with Linux or setting up your own nodes, check this link for more info: https://www.stakingrewards.com/earn/vechain
I've never heard of ONE, but seems they have a different consensus compared to VeChain. You can either become a validator (Running your own node, staking your coins, and getting others to stake with your validator node) or you can become a delegate ("staking" with other validators who are already running a node, but you will not get max ROI with this method but doesn't require as much technical know-how) Check out this link for more information: https://docs.harmony.one/home/network/delegator/staking-dashboard/open-staking-faq
Also, let me know if this information has been useful or not!
Prison Mike
Banned
I know literally nothing on this subject what is the pii coin than ive seen popping up everywhere.
Bunker Hosted
Member
I've never seen this and I'm in this space everyday. If you are seeing it continuously on random forums, chat groups, or YouTube channels; It's likely some garbage coin that is being shilled by whales to pump the price, so they can dump it on you
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Ascend
Member
Things are looking ok as of now for BTC. Which do you want first? The good or the bad news...?
As of now, we reached a low of 43k, which is above the 40k that I predicted. The fact that we didn't reach 40k is actually a positive sign, because there are many people buying up whenever we are drawing closer to 40k.
We broke the previous 48k swing high, then found resistance at 50k, as expected. Many people will be taking profits at 50k, so for us to break above it again, it might take a while.
If the next BTC low swing holds above 45k, we'll be shooting up shortly afterwards. We're seeing bullish divergence on multiple timeframes, so it is a real possibility.
We broke the previous 48k swing high, then found resistance at 50k, as expected. Many people will be taking profits at 50k, so for us to break above it again, it might take a while.
If the next BTC low swing holds above 45k, we'll be shooting up shortly afterwards. We're seeing bullish divergence on multiple timeframes, so it is a real possibility.
Technically speaking, we are still in an up-trend as long as we remain above 31k. That means that the potential to drop lower is there. There is a real possibility that we break below 45k. The market structure is looking like a 'mini'-bear market so to speak. There are no signs yet that this will play out, but... Don't freak out of we drop all the way to 36k for a day or two in the upcoming weeks. It should be very quickly, but very short-lived, IF it happens. I think this is less likely than the positive scenario, but always be prepared.
Do you mean this...?
Pi Network - Home Page
Pi is a network of tens of millions of humans mining Pi cryptocurrency to use and build the Web3 app ecosystem.
minepi.com
They were in the news a while back;
Stanford grads develop cryptocurrency for smartphone users to increase its accessibility
Pi aims to allow everyday people from all walks of life to contribute to the security of the cryptocurrency and the success of its community. The team believes this meritocratic principle, as well as Pi’s inclusivity, are positioning it to become the world’s most widely used cryptocurrency.
www.stanforddaily.com
I would still stay away for now though.
Mining on your phone without draining battery is a preposterous claim. If they can't tell the difference between mining, minting and staking, I can't say that I can trust them.
They are not on Coingecko nor officially on Coinmarketcap.
It's not doing anything original yet and is still in its test phase.
The "team" consists of only two people according to their website. Granted, both of them have PhDs, but that alone is insufficient to consider it a good project.
They claim to work on the Stellar Lumens network, which is basically the XLM coin. You're better off investing in XLM instead.
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Nikana
Go Go Neo Rangers!
Thank for the info. I bought with some GME hype money just dicking around so I am technically not out anything but I would like to use the money thats tied up for other stocks and such and its driving me crazy. I figured it would drop if things went bad but I didnt expect the hit it took and was trying to wait to mitigate my losses but I am starting to think it isnt gonna happen anytime soon.Things are looking ok as of now for BTC. Which do you want first? The good or the bad news...?
As of now, we reached a low of 43k, which is above the 40k that I predicted. The fact that we didn't reach 40k is actually a positive sign, because there are many people buying up whenever we are drawing closer to 40k.
We broke the previous 48k swing high, then found resistance at 50k, as expected. Many people will be taking profits at 50k, so for us to break above it again, it might take a while.
If the next BTC low swing holds above 45k, we'll be shooting up shortly afterwards. We're seeing bullish divergence on multiple timeframes, so it is a real possibility.
Technically speaking, we are still in an up-trend as long as we remain above 31k. That means that the potential to drop lower is there. There is a real possibility that we break below 45k. The market structure is looking like a 'mini'-bear market so to speak. There are no signs yet that this will play out, but... Don't freak out of we drop all the way to 36k for a day or two in the upcoming weeks. It should be very quickly, but very short-lived, IF it happens. I think this is less likely than the positive scenario, but always be prepared.
Do you mean this...?
Pi Network - Home Page
Pi is a network of tens of millions of humans mining Pi cryptocurrency to use and build the Web3 app ecosystem.
They were in the news a while back;
Stanford grads develop cryptocurrency for smartphone users to increase its accessibility
Pi aims to allow everyday people from all walks of life to contribute to the security of the cryptocurrency and the success of its community. The team believes this meritocratic principle, as well as Pi’s inclusivity, are positioning it to become the world’s most widely used cryptocurrency.
I would still stay away for now though.
Mining on your phone without draining battery is a preposterous claim. If they can't tell the difference between mining, minting and staking, I can't say that I can trust them.
They are not on Coingecko nor officially on Coinmarketcap.
It's not doing anything original yet and is still in its test phase.
The "team" consists of only two people according to their website. Granted, both of them have PhDs, but that alone is insufficient to consider it a good project.
They claim to work on the Stellar Lumens network, which is basically the XLM coin. You're better off investing in XLM instead.
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bigsnack
Member
BTW it looks like Binance automatically stakes certain coins for you. This info was very helping in learning how it works, but I believe for now I’m set up. Thanks so much!
Bunker Hosted
Member
Just remember by allowing Binance to do this for you, you are not helping with the decentralization of the network.
Everyone holding their coins earning staking rewards via Binance, Coinbase, and Kraken are making these entities have majority say on what happens with said network. THEY get to vote on changes to the code, THEY get to vote on on the future of the project, and THEY get a big chunk of the newly created tokens via POS.
Ascend
Member
This is like asking in 2017 if we would ever see fall of 2016 numbers again. In other words... Although I could be wrong, I don't think we will ever see BTC below 20k again.
We are in a correction.
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Everything went up last few months, not just crypto - S&P, Tesla, Apple. I just can't see how any asset can grow indefinitely.
Ascend
Member
Let's take the September and December closing prices, and current prices... Just to put things in perspective.
| Stock | Sep | Dec | Now |
| S&P500 | $3.4k | $3.7k | $3.9k |
| Tesla | $429 | $706 | $686 |
| Apple | $116 | $133 | $125 |
| Bitcoin | $10.7k | $29k | $48k |
In percentages, roughly speaking, the S&P500 rose 15%, Tesla rose 60%, Apple rose 8%, and Bitcoin rose.... 350%.
Tesla's market cap is currently is $659B. Bitcoin is $898B...
For Tesla, which is the second best performer, to reach back to its September values, it needs to drop 37%. For Bitcoin to do that, it needs to drop 78%.
37% of $659B = $244B of value lost
78% of $898B = $700B of value lost
For BTC to reach back to 20k, that's a 58% drop, which would correspond to $524B of value lost, still double the amount Tesla would need to lose, and about 80% of the whole of Tesla.
Still think we will see BTC below 20k again...?
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Ascend
Member
When more people hear of this, Ethereum might moon...
GAMETA
Banned
I'm a total noob, guys, how's Ethereum looking right now?
I'm looking into selling nft artwork, not sure if it's an already saturated market or not, but may be worth a shot.
I know it's hard to predict, but knowing crypto, do you think it could be worth in the long run?
Btw, is MetaMask a good wallet?
I'm looking into selling nft artwork, not sure if it's an already saturated market or not, but may be worth a shot.
I know it's hard to predict, but knowing crypto, do you think it could be worth in the long run?
Btw, is MetaMask a good wallet?
Nikana
Go Go Neo Rangers!
will people go into the whole family? like ETC?When more people hear of this, Ethereum might moon...
Ascend
Member
Very good overall. Some miners don't like the new EIP-1559 proposal since it cuts in their profits. If you don't know what that means, don't worry, since it will likely blow over anyway.
Nothing in crypto is saturated yet, except for the amount of copycat coins. You're still quite early in the NFT world.
I have no idea... The most expensive virtual NFT cat is worth 600 ETH, or about $950 million. Take that as you will.
For your browser, yes. Great wallet. For your mobile phone, not so much. There are fake metamasks out there, and people have lost funds on their phones because of that.
Ascend
Member
I do not understand the question.
I personally don't invest in NFTs. They are collectibles, and even though one can make a lot of money on them, it is hard to know which collectibles will be worth something in the long term.
I have not delved into them as I did crypto in general, but if you want to do so, this is a good place to start;
Market Tracker | NFT Sales History & Trends | NonFungible.com
Real-time NFT market metrics, project rankings & sales history. Assess the value of your non-fungible tokens before buying or selling assets.
nonfungible.com
Irobot82
Member
My wife's best friend passed away last year due to a sudden heart attack.
Back in 2018 he sent me $10 on cashapp to pay for some lunch my wife paid for him. I didn't know what to do with it at the time so I bought some BTC with it. Today it is currently worth $158. It just sits there in my cashapp as a reminder to a great guy and someone we both miss every day. I don't know if I'll ever sell it. Maybe I'll donate it in 10 years.
Back in 2018 he sent me $10 on cashapp to pay for some lunch my wife paid for him. I didn't know what to do with it at the time so I bought some BTC with it. Today it is currently worth $158. It just sits there in my cashapp as a reminder to a great guy and someone we both miss every day. I don't know if I'll ever sell it. Maybe I'll donate it in 10 years.
GAMETA
Banned
Thanks my man
Nikana
Go Go Neo Rangers!
DOesnt Etherium have other coins like Ethererium Classic? I never understood what the different between classic and regular is along with stuff like Bitcoin Cash and such.I do not understand the question.
I personally don't invest in NFTs. They are collectibles, and even though one can make a lot of money on them, it is hard to know which collectibles will be worth something in the long term.
I have not delved into them as I did crypto in general, but if you want to do so, this is a good place to start;
Market Tracker | NFT Sales History & Trends | NonFungible.com
Real-time NFT market metrics, project rankings & sales history. Assess the value of your non-fungible tokens before buying or selling assets.
Ascend
Member
The best cards for mining are the 3000 series and the 5000 series. There's little reason to wait for other cards.
That being said, this crypto mining craze will come to an end. By that time, Ebay will be flooded with graphics cards. That's the best time to buy a graphics card, both for gaming and mining. Don't be surprised if during that time you can find a 3080 for close to $400 or even less.
Oh. Ok. I'll try to explain it... Long story short...
Once upon a time there was Ethereum.
There was a 'bug' in the code and someone stole a bunch of coins.
The developers fixed the bug, and reverted the blockchain to a certain previous block (basically a rewind).
Some people didn't like that, and decided to remain on the old 'hacked' blockchain with the 'bug'
That old chain became Ethereum Classic, and exists next to the main Ethereum.
This divergence in the blockchain is called a hard fork.
Bitcoin cash, Bitcoin Gold, Bitcoin Diamond, Bitcoin Private etc are all hard forks of Bitcoin.
:max_bytes(150000):strip_icc()/a-visual-representation-of-the-digital-cryptocurrency-976546466-6cad9b4f73314b9a9759dbc9a0e51008.jpg)
Hard Fork: What It Is in Blockchain, How It Works, Why It Happens
A hard fork is a radical change to the protocol of a blockchain network that makes previously invalid blocks/transactions valid—or vice-versa.
Nikana
Go Go Neo Rangers!
Are fork's bad?The best cards for mining are the 3000 series and the 5000 series. There's little reason to wait for other cards.
That being said, this crypto mining craze will come to an end. By that time, Ebay will be flooded with graphics cards. That's the best time to buy a graphics card, both for gaming and mining. Don't be surprised if during that time you can find a 3080 for close to $400 or even less.
Oh. Ok. I'll try to explain it... Long story short...
Once upon a time there was Ethereum.
There was a 'bug' in the code and someone stole a bunch of coins.
The developers fixed the bug, and reverted the blockchain to a certain previous block (basically a rewind).
Some people didn't like that, and decided to remain on the old 'hacked' blockchain with the 'bug'
That old chain became Ethereum Classic, and exists next to the main Ethereum.
This divergence in the blockchain is called a hard fork.
Bitcoin cash, Bitcoin Gold, Bitcoin Diamond, Bitcoin Private etc are all hard forks of Bitcoin.
Hard Fork: What It Is in Blockchain, How It Works, Why It Happens
A hard fork is a radical change to the protocol of a blockchain network that makes previously invalid blocks/transactions valid—or vice-versa.www.investopedia.com
Ascend
Member
No. Generally forks are there to try and improve things. Many bugs, fixes and improvements are implemented through forks. When everyone agrees, it is called a soft fork. But it doesn't always go like that.
The thing about forks is that sometimes not everyone agrees on what should happen. And because the blockchain is immutable, meaning, it cannot really be changed, a group of people can always choose to remain on another blockchain. This is called a hard fork.
Nikana
Go Go Neo Rangers!
Interesting.
Do forks expect to get as high as whatever the original chains were in value?
Ascend
Member
It depends. In the case of Ethereum, the new chain was the one that got the biggest adoption and kept on going, while the old chain, ETC, although still alive, is nowhere near the level of ETH, neither in price nor developer nor user adoption.
In the case of BTC, there have been multiple forks, but BTC remains the dominant one, because the forks were of "political" disagreements rather than functional ones.
Forks of forks are also possible, like BCH turning into BCH and BSV.
Ascend
Member
There is a way that you can sort of estimate this.
Do you think that from now until 2030, it would be realistic for the current market cap to grow to its fully diluted valuation?
To put it more simply, do you think the coin can grow from 1 billion in market cap today to 12 billion in market cap in 9 years...?
If you think it will happen slower, the coin should decrease in value compared to today. If you think it will happen quicker, the coin should increase in value.