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Bitcoin, Cryptocurrency, Blockchain, and You: Navigating the Future of Tech (a NeoGAF discussion thread)

CloudNull

CloudNull

Banned
Siacoin is up 100% today..... fuck me. Rumors of it eventually making its way to coinbase.
 
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Fox Mulder

Fox Mulder

Member
Put $100 in dogecoin months ago from one of the stimulus checks as a goof and forgot about it.

shocked holy shit GIF
 
I

infinitys_7th

Member
Synless said:
I hope everyone is taking this opportunity to buy, especially last night.
Click to expand...

Some of the models I like suggest Bitcoin going back down to $45k or so. Still seems like a buy opportunity in the long term, but it might be worth waiting.

Of course, even in the months I've started doing this I've seen a 15% correction get reversed quickly, so who knows.
 
Synless

Synless

Member
infinitys_7th said:
Some of the models I like suggest Bitcoin going back down to $45k or so. Still seems like a buy opportunity in the long term, but it might be worth waiting.

Of course, even in the months I've started doing this I've seen a 15% correction get reversed quickly, so who knows.
Click to expand...
I’d argue regardless of that possibility it was/is still a great time to buy regardless Considering where we are and where many TA’s on these show it will go back to.

My suggestion to everyone is to dollar cost average themselves to that point, it if happens.
 
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I

infinitys_7th

Member
Synless said:
I’d argue regardless of that possibility it was/is still a great time to buy regardless Considering where we are and where many TA’s on these show it will go back to.

My suggestion to everyone is to dollar cost average themselves to that point, it if happens.
Click to expand...

That's what I meant - long term, I expect Bitcoin to break $100k and higher, so it's a buy regardless because the average basis is going to be way below my expectation. I've just always had a hard time buying any investment that isn't at what I think is the bottom.
 
{insert code here}

{insert code here}

Member
Bought that dip. I see Doge is up 11% while the entire market is down 8%. Clearly, clearly everybody has seen the light that is doge and are liquidating their portfolios to buy into the future galactic currency that is doge.

OIP.bLNTfJQPXwfkdvHKdgenJAHaEo

Dogeeeeeeeeeee.............

Not financial advice.​
 
SirKicksalot

SirKicksalot

Member
It's some shitcoin launched last month that somehow managed to explode. Swap BNB for it (PancakeSwap). The founders claim some exchanges will list it next week.
I might just dump 100 bucks into a bunch of new coins every month and hope for the best.
However, I think SafeMoon had the right name (dude moon and safety lmao, just in time for Doge to explode and Elon to go to the moon). People are not going to be attracted to XrhhdblwrghCoin, which might be 100x better from a technical point of view.
 
gradient

gradient

Resident Cheap Arse
Master Of Illusion said:
How to Buy | SafeMoon

Unfortunately the app used to buy it ran out of BNB & Smart Chain, so you gotta wait until their 3rd party Crypto holders give Trust Wallet a restock in order to even consider buying any SafeMoon.

And they better restock quick. I'd like to become a multimillionaire before I'm 30.
Click to expand...

Everything about that has red flags on it.

They require payment via moonpay which has a seriously dodgy history, a lot of reports of transaction issues and were caught flooding fake reviews. Hell, it's blocked by a couple of my card issuers.

As for the coin, I know we're in a mania phase of the market but it just looks like bait to lure in stupid money. You might be able to turn something on it, but I'd be very wary.
 
Nikana

Nikana

Go Go Neo Rangers!
Kind of expected Doge to hit some new highs today with it being "Doge Day." Looks like the dream is over?
 
gradient

gradient

Resident Cheap Arse
Nikana said:
Kind of expected Doge to hit some new highs today with it being "Doge Day." Looks like the dream is over?
Click to expand...

There was no dream - just hype played up by the whales who stood to make a fortune at the expense of the mugs.

The whales are trying to pump that coin so that they can offload. It's being framed as something like GME but the difference is that there is no big institution going to take a hit for their unscrupulous behaviour in this case. Instead it'll just allow the big holders to offload at a massive gain and leaving the little guys who they suckered to take the losses.

The vast majority of Doge is being held by about 100 "investors" which have massive volumes they're just itching to offload. Unlike GME it doesn't matter if all the little guys hold because if just one of those whales sells then the price will tank. Folks in the Crypto community have been trying their best to warn people of this which at this point appears to have taken hold and managed to stop the pump before the inevitable dump.
 
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Nikana

Nikana

Go Go Neo Rangers!
gradient said:
There was no dream - just hype played up by the whales who stood to make a fortune at the expense of the mugs.

The whales are trying to pump that coin so that they can offload. It's being framed as something like GME but the difference is that there is no big institution going to take a hit for their unscrupulous behaviour in this case. Instead it'll just allow the big holders to offload at a massive gain and leaving the little guys who they suckered to take the losses.

The vast majority of Doge is being held by about 100 "investors" which have massive volumes they're just itching to offload. Unlike GME it doesn't matter if all the little guys hold because if just one of those whales sells then the price will tank. Folks in the Crypto community have been trying their best to warn people of this which at this point appears to have taken hold and managed to stop the pump before the inevitable dump.
Click to expand...
Why wouldnt they continue the hype to get it to $1 then?
 
gradient

gradient

Resident Cheap Arse
Nikana said:
Why wouldnt they continue the hype to get it to $1 then?
Click to expand...

The whales were (and are), but the more experienced members of the crypto community have been working to highlight the con.

The tactic they're using to push Doge up is using a narrative similar to that of GME, except for Doge there is no "cause" or opportunity to take down a big institution. The people who stand to benefit from the same kind of financially suicidal charge by the little guys are the big Doge stakeholders. So, the message falters somewhat if people highlight this. Add in to that a large and vocal portion of the crypto community who are warning against this because it not only means that a lot of new investors will get stung, but because the resulting fallout will make crypto look bad and bolsters the claims levelled against it, essentially delegitimizing all crypto and it's progress so far.

I've seen people hyping it as going to as much as $10 but that's incredibly unrealistic. Not only would that give Doge a greater market cap than Bitcoin, it is wholly unfeasible given that Doge is auto-inflationary - that means it is constantly creating new coins so the amount of additional investment required to drive the price up that high is phenomenal. Hell even maintaining it at the current price is likely too much (I believe the rate is about 10000 new coins per minute). It's all hype generated by a big marketing machine and some people who get easily caught up in these things, driving the price up for the inevitable dump by one of the big players (I think about 10 people/investors hold 50% of the total bag).
 
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Nikana

Nikana

Go Go Neo Rangers!
gradient said:
The whales were (and are), but the more experienced members of the crypto community have been working to highlight the con.

The tactic they're using to push Doge up is using a narrative similar to that of GME, except for Doge there is no "cause" or opportunity to take down a big institution. The people who stand to benefit from the same kind of financially suicidal charge by the little guys are the big Doge stakeholders. So, the message falters somewhat if people highlight this. Add in to that a large and vocal portion of the crypto community who are warning against this because it not only means that a lot of new investors will get stung, but because the resulting fallout will make cryto look bad and bolters the claims levelled against it, essentially delegitimizing all crypto and it's progress so far.

I've seen people hyping it as going to as much as $10 but that's incredibly unrealistic. Not only would that give Doge a greater market cap than Bitcoin, it is wholly unfeasible given that Doge is auto-inflationary - that means it is constantly creating new coins so the amount of additional investment required to drive the price up that high is phenomenal. Hell even maintaining it at the current price is likely too much (I believe the rate is about 10000 new coins per minute). It's all hype generated by a big marketing machine and some people who get easily caught up in these things, driving the price up for the inevitable dump by one of the big players (I think about 10 people/investors hold 50% of the total bag).
Click to expand...
I saw some $10 evaluations and even one that said $40 and i was like...what? Seems impossible.
 
gradient

gradient

Resident Cheap Arse
Nikana said:
I saw some $10 evaluations and even one that said $40 and i was like...what? Seems impossible.
Click to expand...

A bit of dirty math shows how unrealistic that is

10,000 new coins per minute

$10 per coin

10 * 10000 = $100,000 per minute

So to maintain at $10 Doge would need around $6 MILLION dollars of new investment every hour

Even at the current 0.36 it requires $216,000 of new investment per hour just to keep the price stable.

It's frightening that people are being so easily led into the hype.

The fact that it's maintaining at ~0.36 shows how many are buying into the hype, but at least the pushback seems to have diminished the mania - at least for now.
 
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Nikana

Nikana

Go Go Neo Rangers!
gradient said:
A bit of dirty math shows how unrealistic that is

10,000 new coins per minute

$10 per coin

10 * 10000 = $100,000 per minute

So to maintain at $10 Doge would need around $6 MILLION dollars of new investment every hour

Even at the current 0.36 it requires $216,000 of new investment per hour just to keep the price stable.

It's frightening that people are being so easily led into the hype.

The fact that it's maintaining at ~0.36 shows how many are buying into the hype, but at least the pushback seems to have diminished the mania - at least for now.
Click to expand...

I will gladly take my $350 and walk away.
 
B

Blade2.0

Member
So most here think this isn't the start of the bear market? I'm down 1k since everything went down but up 4k overall. Figured I'll keep holding. Usually the moment I sell, is the moment it starts to reverse course. Lol. I got doge at .38. 😢😭
 
TheUsual

TheUsual

Gold Member
I've signed up for a Coinbase account and have a Ledger Nano S coming in soon. I will try to treat crypto investments like stocks and also keep them on my Ledger.
Doge on Robinhood has been a nice little bonus but I actually want to hold onto to that private key incase the middleman gets compromised.
 
Burger

Burger

Member
TheUsual said:
I've signed up for a Coinbase account and have a Ledger Nano S coming in soon. I will try to treat crypto investments like stocks and also keep them on my Ledger.
Doge on Robinhood has been a nice little bonus but I actually want to hold onto to that private key incase the middleman gets compromised.
Click to expand...

I have a ledger and it's great. I keep some long term stuff on there, but some I hold back on exchange so it can be traded quickly. Moving stuff back and forth between exchange/ledger not only takes time but fees (esp Eth/Btc) will kill you.
 
nkarafo

nkarafo

Member
This whole investing/gambling is so funny and predictable to me.

I never in my life earned anything from bets/gamble/investment, etc. I tried a lot of times but i believe i'm cursed. Winning money in any way (without working) is a completely unknown concept for me. Friend of mine insisted i should invest in crypto. I specifically told him "if i put my money in it, i will cause the whole industry to crash". Well, i invested some money a week ago. Half of my investment is already gone, same with most other coins :messenger_grinning_sweat:

So, here's an inside info. It will continue that way as long as i have my money in. I'm accepting bribes to get out and let cryptocurrencies be 🤷‍♂️

At least, if crypto completely crashes (which will be my fault) graphics cards prices will return to normal. So make sure you thank me for that :messenger_grinning_sweat:
 
thefool

thefool

Member
nkarafo said:
This whole investing/gambling is so funny and predictable to me.

I never in my life earned anything from bets/gamble/investment, etc. I tried a lot of times but i believe i'm cursed. Winning money in any way (without working) is a completely unknown concept for me. Friend of mine insisted i should invest in crypto. I specifically told him "if i put my money in it, i will cause the whole industry to crash". Well, i invested some money a week ago. Half of my investment is already gone, same with most other coins :messenger_grinning_sweat:

So, here's an inside info. It will continue that way as long as i have my money in. I'm accepting bribes to get out and let cryptocurrencies be 🤷‍♂️

At least, if crypto completely crashes (which will be my fault) graphics cards prices will return to normal. So make sure you thank me for that :messenger_grinning_sweat:
Click to expand...

I don't want to sound harsh, but you bought a parabolic advance, what did you expect?
 
natjjohn

natjjohn

Member
I’m starting to feel like ADA is part of a pump and dump (though I own some) as see people constantly referencing buying ADA while it price keeps dropping. Having said that, still thinking of buying!
 
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