Cryptocurrencies Part III - We ran as if to meet the Moon

[Juve]

That has the potential to come crashing down has fast as it went up, if you invested anything into it i would suggest pulling out whatever you put in and let the rest ride! If you are just mining it then enjoy and don't forget to take profits along the way

I didn't put any money into. I just mined it. I mined a pretty good amount. I've been jumping from coin to coin to get a little bit here and there and for testing.

I am just not going to mine Eth until I get my Ledger. I didn't realize that Eth came with a lot of fees.

 

[Gardner McKay]

Nothing will be an ETH killer at this stage.

Polka can be since it can bridge ERC-20 tokens. Otherwise I would agree as projects would have to do a new layer implementation as well as launch a new contract address which, is quite unfeasible. Polka bridge would allow them to keep their same contract address and operate for like 1/10th of the gas fees.

I say "can" since Polka isn't launching for another month, but I do think it will take a major chunk of Eths market cap since Eth 2.0 is still months away and gas fees are literally killing projects left and right. If Polka has a successful launch and pulls even 10% of ERC-20 tokens onto its network, its going to be a game changer. Keep in mind up until recently I've been an ETH purist of sorts.

Am another crypto newb on the board who has been stuffing his head full of knowledge lately. There is so much to learn but I'm mad at myself for not taking all this seriously years ago.
Congrats to all of you who are enjoying the rush; I know enough to realize that what's going on with the massive gains in the past few weeks is pretty mind-boggling.

Thanks for the kind words. It is great to hear, especially considering all the flack we (early adopters) took 3 years ago.

 

[VEGASKING]

Crazy the run BNB has had this year. From $40 to $140 in the last 3 weeks and up 225% for the last 30 days. Even ADA isn't up that much and it's a lot easier to do it at 0.30 than it is at $40.

 

[What the Faulk]

Crazy the run BNB has had this year. From $40 to $140 in the last 3 weeks and up 225% for the last 30 days. Even ADA isn't up that much and it's a lot easier to do it at 0.30 than it is at $40.

The cost of the coin is actually not very relevant. It's a common misconception. What you want to pay attention to is the market cap. Currently, ADA is sitting at $27B while BNB is now at $20B, so it's actually "easier" for BNB to run because there's more room to grow.

For comparison, BTC has a $904B market cap and ETH is at $208B. It's hard to see any of these high market cap coins gaining too much ground on ETH, IMO. That's why I usually look at coins that can 10x and not post stupid market cap numbers that encroach on ETH. I just don't think that's very realistic. It's going to stay at the top based on name recognition, whether or not people develop better solutions. It's why BTC is still the giant.

 

[TheDoldrums]

I was lucky enough to buy BTC this summer at around $10k, definitely should have bought more. General question, are us little guys still dollar-cost averaging into it even at $47k or are you all just hodling at this point?

DCA on BTC is still a fine idea imo. Personally I'm just hodling because I bought a decent amount at $1500 and it already makes up an incredibly irresponsible percentage of my net worth. But I don't think we're at the end of this bull market. And I don't think the institutional inflows are going to slow down anytime soon.

 

[CokenoPepsi]

ETH passed 1900 today.

What you think Crypto guy 20k soon?

 

[The Crypto Guy]

ETH passed 1900 today.

What you think Crypto guy 20k soon?

I'm hoping! But who knows, once it hits 2000 i'm sure there will be a decent size correction with people taking profits, I'm probably going to sell a few then as well.

 

[CokenoPepsi]

I'm hoping! But who knows, once it hits 2000 i'm sure there will be a decent size correction with people taking profits, I'm probably going to sell a few then as well.

I am planning on doing one more purchase tomorrow and then looking at a correction to load up more if the markets allow.

We shall see

 

[mouz135]

ETH passed 1900 today.

What you think Crypto guy 20k soon?

I hope so too. I missed the BTC boat, finally got in on the ground floor of ETH. This is my BTC

 

[CokenoPepsi]

Oh I just noticed I said 20k lol... I meant 2k

20 sure would be nice lol

 

[What the Faulk]

Oh I just noticed I said 20k lol... I meant 2k

20 sure would be nice lol

Hah, I was going to say, 20k would be almost a $2.3 trillion (with a T) market cap. I think we're all bullshit on ETH, but I don't know about that. BTC just recently crossed $1T.

Until we start seeing projects in full swing, there's going to be an upper limit to this stuff.

 

[TheDoldrums]

I hope so too. I missed the BTC boat, finally got in on the ground floor of ETH. This is my BTC

Missed the boat?



Okay that is too excessively bullish even for me, but still. BTC still has a very good chance of outperforming ETH going forward so I don't think any boat has been missed.

 

[The Crypto Guy]

Missed the boat?



Okay that is too excessively bullish even for me, but still. BTC still has a very good chance of outperforming ETH going forward so I don't think any boat has been missed.

ETH has out performed BTC all year, I don't see that changing, especially with ETH continuing to grow its environment and BTC not really having much room for growth within the project.

 

[TheDoldrums]

ETH has out performed BTC all year, I don't see that changing, especially with ETH continuing to grow its environment and BTC not really having much room for growth within the project.

ETH has a bunch of competitors encroaching on its space. Binance is pretty much trying to kill ETH with their centralized version that dramatically cuts fees. They've already started removing ETH trading pairs, that's a pretty big exchange. Early returns are that people care more about high gas prices than staying DeFi. If you are a DeFi devotee, newer copycats like Cardano, Polkadot, etc. are gaining ground. ETH is in a race to scale quickly before people get comfortable with these alternatives.

I don't think Bitcoin has any competition in terms of being a store of value. And I don't think any other coin will be hoarded in the same way. I still like ETH and am holding some tokens but I see more potential issues than with BTC.

 

[The Crypto Guy]

ETH has a bunch of competitors encroaching on its space. Binance is pretty much trying to kill ETH with their centralized version that dramatically cuts fees. They've already started removing ETH trading pairs, that's a pretty big exchange. Early returns are that people care more about high gas prices than staying DeFi. If you are a DeFi devotee, newer copycats like Cardano, Polkadot, etc. are gaining ground. ETH is in a race to scale quickly before people get comfortable with these alternatives.

I don't think Bitcoin has any competition in terms of being a store of value. And I don't think any other coin will be hoarded in the same way.

Polkadot and Cardano are not even working projects yet. All they have going for them is hype. Ether is still so incredibly far ahead of both of them, and once Eth 2.0 is officially completed and scaling/fees are sorted out, there won't even be a ounce of doubt that Ether will be the showrunner. I've been saying this for 4 years and nothing has changed and Ether has taken off.

 

[SniperHF]

We hittin 2K? Close....

 

[The Crypto Guy]

We hittin 2K? Close....

I can't stop staring at the price in real time at the moment

 

[The Crypto Guy]

We hittin 2K? Close....

There it goes!

And i'll take a tiny bit of profit with this milestone

 

[Juve]

Rvn coin is going strong!!!

Edit: I received a 25$ gift card for purchasing a Ledger wallet. Is it still worth it to invest in BTC?

 

[CokenoPepsi]

I've put a significant amount (for me) into it over the past week and now trying to decide how I want to continue.

I could buy one more if I wanted right now but am thinking maybe better just to buy a bit at a time.... Couple friends and aquatances are saying it will be 10-20k by end of year...trying to tune them out lol

 

[What the Faulk]

Missed the boat?



Okay that is too excessively bullish even for me, but still. BTC still has a very good chance of outperforming ETH going forward so I don't think any boat has been missed.

This is even less realistic than 20k ETH. 2m BTC would be 74 trillion. Not gonna happen, not gonna come close to happening.

 

[Gardner McKay]

Polkadot and Cardano are not even working projects yet. All they have going for them is hype. Ether is still so incredibly far ahead of both of them, and once Eth 2.0 is officially completed and scaling/fees are sorted out, there won't even be a ounce of doubt that Ether will be the showrunner. I've been saying this for 4 years and nothing has changed and Ether has taken off.

They are not, but Polka will be soon. I'm concerned regarding EIP 1559 as well as the Berlin hard fork in April. It is going to be chaos. Depending on how many miners move to the new fork, it could open up the existing chain to 51% attacks. Like I said, chaos.

I still believe in ETH, it is still the king. But the near future is definitely a bit murky.

 

[CokenoPepsi]

Bought more, hope I finally hit the actual dip part this time

 

[CokenoPepsi]

Interesting weekend

 

[Gardner McKay]

Interesting weekend

It was. I think we continue to see a downtrend for a bit longer with ETH ultimately getting down to $1,000 - $1,100 ish range. I think it stays there for a while and then just explodes again.