Official Bitcoin Thread

[1c3m4m]

I want to come up off this crypto like that

I be thinking about this whole thing dam near everyday

 

[iheartboost]

I should of put more on SHIB

 

[Arthur Shelby]

 

[sole searchin]

How low can you go SOL?

 

[pdino]

How low can you go SOL?

SOL: My conviction on SOL hasn't wavered.. From what I read, a bunch of bots spam bought/sold a new coin and overloaded the network. SOL went up to 400k transactions/second before it pooped out, which is pretty impressive IMO (ETH is 15-30 TPS, VISA is like 35k TPS, SOL usually averages like 3k TPS for reference). This wouldn't have been possible on Ethereum for example because... too damn expensive to make all those transactions

New protocols are going to have bumps in the road, SOL still developing and in its beta phase.. Ethereum was HACKED back in the day, and hard forked, branched off, to un-do it (Ethereum classic is the OG chain, and what we know now as Ethereum is the hard fork branch).

I wanted to put everyone on a TA tool for newbies to provide SOME GUIDANCE. Instead of picking a random price to buy/sell, use Barcharts "cheat sheet", it shows support/resistance levels in an easy to digest way. You can look up most cryptos, and find the "traders cheat sheet" on the left. Here's example for BTC: https://www.barchart.com/crypto/quotes/^BTCUSD/cheat-sheet

The basic strategy is if you want to get in a position, go slightly above the support level as your buy spot(s), and slightly below the resistance level as your sell spot(s).

This is just a TOOL to give SOME guidance. TA works, until it doesn't, but it's my belief that TA is a self-fulfilling prophecy. Some people swear by it, and there's bots/algorithms that solely use it. On the very basic level, support/resistance is data based on supply/demand. Lots of people want to buy/and did buy at certain levels that creates support there, same for resistance with taking profits/selling. Instead of randomly picking a # to buy/sell at, take 30 seconds to plug into the cheat sheet and see if you can get a little more taking advantage of support/resistance levels.

 

[1c3m4m]

I should of put more on SHIB

u still can

its still sub penny bro

get in load up

 

[D Double]

Bought the SOL dip below and a bit above 140.
Time to get this train moving again.

yeah, looks like solanium has been doing really well. really low caps with low volume spook me but that's half of my portfolio lol. everest has terrible volume rn but i still wish i could purchase it directly without gas fees.

i'm in on syntropy and have made some decent gains since i entered. small bag. big gamble. i guess i'm going in on things that are really new tech and could either take off or fizzle. either way, it's exciting.

Yea low caps increase the stress levels to a new level.
Solanium did well for me which is why I always think its good to allocate a small portion to the low cap stuff.

As for going for new tech, just make sure it's not something that's too far ahead. Those get crushed in the bear market because their price is built on speculation for so long.
Had a few of those bite me back in 2018.

With the bull run supposedly kicking into overdrive next quarter, I'm packing my bags with the blue chip stuff and setting a little aside for riskier plays.

I wanted to put everyone on a TA tool for newbies to provide SOME GUIDANCE. Instead of picking a random price to buy/sell, use Barcharts "cheat sheet", it shows support/resistance levels in an easy to digest way. You can look up most cryptos, and find the "traders cheat sheet" on the left. Here's example for BTC: https://www.barchart.com/crypto/quotes/^BTCUSD/cheat-sheet

The basic strategy is if you want to get in a position, go slightly above the support level as your buy spot(s), and slightly below the resistance level as your sell spot(s).

This is just a TOOL to give SOME guidance. TA works, until it doesn't, but it's my belief that TA is a self-fulfilling prophecy. Some people swear by it, and there's bots/algorithms that solely use it. On the very basic level, support/resistance is data based on supply/demand. Lots of people want to buy/and did buy at certain levels that creates support there, same for resistance with taking profits/selling. Instead of randomly picking a # to buy/sell at, take 30 seconds to plug into the cheat sheet and see if you can get a little more taking advantage of support/resistance levels.

I've been avoiding TA but I think it's time to learn.
Got this and the research on nodes on my todo list.

As for SOL, I read that It had 400k transactions queued and that caused the nodes to run out of memory. It wasn't processing 400K tps, not sure what it was doing at the time that the bots flooded the network but even then like you said, nothing has changed fundamentally. The patch should stop that happening again but there will always be bugs.

ETH got hacked and Polkadot had that famous incident when they got locked out of a wallet with 300K ETH due to a bug.

Polkadot: MultiSig | Address 0x3bfc20f0b9afcace800d73d2191166ff16540258 | Etherscan

The Contract Address 0x3bfc20f0b9afcace800d73d2191166ff16540258 page allows users to view the source code, transactions, balances, and analytics for the contract address. Users can also interact and make transactions to the contract directly on Etherscan.

etherscan.io

We're still early. Just teething problems.

 

[ssgochin]

SOL: My conviction on SOL hasn't wavered.. From what I read, a bunch of bots spam bought/sold a new coin and overloaded the network. SOL went up to 400k transactions/second before it pooped out, which is pretty impressive IMO (ETH is 15-30 TPS, VISA is like 35k TPS, SOL usually averages like 3k TPS for reference). This wouldn't have been possible on Ethereum for example because... too damn expensive to make all those transactions

New protocols are going to have bumps in the road, SOL still developing and in its beta phase.. Ethereum was HACKED back in the day, and hard forked, branched off, to un-do it (Ethereum classic is the OG chain, and what we know now as Ethereum is the hard fork branch).

One major difference with the SOL issue a few days ago is that SOL blocks stopped being produced- which is essentially shutting down the network.

When ETH was hacked it did not stopped producing blocks. Hard forks happen pretty often- BTC has had a handful as well. The key thing for blockchain is to not stop the blocks from producing which is a huge deal if it does.

 

[wr]

 

[johnnyredstorm]

Spam attacks are going to come for solana. It’s inevitable. They need a mechanism now to stop them from shutting the network down.

part of the reason it took so long to get back online was not every node was responsive right away so they had to wait. There needs to be a 24/7 monitoring mechanism as well.

but

if you’re not failing, you’re not innovating enough or pushing the limits enough.

I’ve got some extra coins I bought this week which are down a little now, I might use them to farm or flip for alts. Not seeing anything I love tho. May grab some avax with them by switching to eth and bridging. Idk. Staying long the core though. Idc what happens. That’s a 0 or 1000 bag for me

 

[stuntman mike]

As for going for new tech, just make sure it's not something that's too far ahead. Those get crushed in the bear market because their price is built on speculation for so long.
Had a few of those bite me back in 2018

yeah that’s most of my portfolio. don’t want to get caught bag holding for sure. Q4 and hopefully the coming Q1 should def be interesting. i think at minimum, i need to take out my initial investment towards the end of the year.

what are your thoughts on the tech behind QNT? i think johnnyredstorm might have researched it some. it has performed really well during BTC dumps but i have no idea how well it would do in a real bear market.

 

[johnnyredstorm]

I need to research QNT. Just a quick read and I’m personally struggling with believing theyll be tying nation states together. I do like the idea of linking chains and multi chain is where we are going but will it be a series of bridges or a network covering everyone like telecom? My worry is that QNT is too early with what it’s goal is vs it’s token price. Gives me 2017 vibes but could be a major winner out of a bear market. Maybe someone who follows it more can comment here

 

[mplsdunk]

Xlm will be huge in the future

I know it’s from some of the ripple guys.

that’s all I really know, seems sort of like amp.

I’ll keep some on deck

 

[johnnyredstorm]

I know it’s from some of the ripple guys.

that’s all I really know, seems sort of like amp.

I’ll keep some on deck

It’s been around for years and has seen new protocols run laps around it in the pat 24 months. Sure it could find a niche, but meh.



This is why solana and avalanche have been on fire. Eth is just for institutions and whales. Regular people CANNOT DCA into DeFi farms which defeats the whole point of being bankless and it’s bull****. Folks need to sacrifice security for opportunity. We need direct bridges from CEXes that are gasless.

 

[wr]

Sol is a hybrid consensus protocol. XLM and XRP are straight up consensus protocols.

Look into Jed McCalleb. Founder of Mt. Gox, edonkey p2p and a lot of other crucial projects in the space. He wanted XRP to be open source and the other deva did not agree and hence went the corporate/finance route while XLM is somewhat open source version of xrp. I don't know any other Blockchains with as much successfully going on as xlm. Plus it's the fastest coin to swap and mov around for me. I hodl eth projects because gas is rediculous.

Stellar has a couple swaps going on like lumenswap.io and a stellar based metamask type https://www.freighter.app/.
Assets and foreign currencies actively swapped on stellarport.io
Also nfts are super cheap.

Litemint: the friendliest Web3 platform to create, sell, collect NFT and digital items

Litemint: the friendliest Web3 platform to create, sell, collect NFT and digital items

litemint.com

Plus you see the negative public sentiment around gas fees right now. Once this stuff becomes mainstream people will flow to projects that are fast with little to no resistance. We are still a super niche crowd. By the time crypto becomes mainstream no one will even see addresses. Just payment pointer names and nfts to send value back and forth.

Baffles me how Jed stays so low key.

Held more xrp as a founder than Ripple the company but not a peep about him in these SEC lawsuits.

They've been working on ripple since the 80's. Plus the CTO of ripple is has the parent on distributed computing.

Ripple was originally opencoin.

 

[truss]

Coinbase bringing a payroll product to market would be a real game changer

 

[johnnyredstorm]

Sol is a hybrid consensus protocol. XLM and XRP are straight up consensus protocols.

Look into Jed McCalleb. Founder of Mt. Gox, edonkey p2p and a lot of other crucial projects in the space. He wanted XRP to be open source and the other deva did not agree and hence went the corporate/finance route while XLM is somewhat open source version of xrp. I don't know any other Blockchains with as much successfully going on as xlm. Plus it's the fastest coin to swap and mov around for me. I hodl eth projects because gas is rediculous.

Stellar has a couple swaps going on like lumenswap.io and a stellar based metamask type https://www.freighter.app/.
Assets and foreign currencies actively swapped on stellarport.io
Also nfts are super cheap.

Litemint: the friendliest Web3 platform to create, sell, collect NFT and digital items

Litemint: the friendliest Web3 platform to create, sell, collect NFT and digital items

litemint.com

Plus you see the negative public sentiment around gas fees right now. Once this stuff becomes mainstream people will flow to projects that are fast with little to no resistance. We are still a super niche crowd. By the time crypto becomes mainstream no one will even see addresses. Just payment pointer names and nfts to send value back and forth.

Baffles me how Jed stays so low key.

Held more xrp as a founder than Ripple the company but not a peep about him in these SEC lawsuits.

They've been working on ripple since the 80's. Plus the CTO of ripple is has the parent on distributed computing.

Ripple was originally opencoin.

The criticism is tho, what moat do they have when if fees are my concern I can go to solana and thrive with NFTs, defi, and EVM compatibility (in development still). I personally think the time has swept passed them and they missed their opportunity.

 

[wr]

There are tons of projects that are EVM compatible. In 2021 crypto that's not really a unique feature anymore.

Stellar is not doing the same thing as Sol and other crypto.

It's meant to be a bridge asset, not an entire closed in ecosystem. People buying nft bears not in the same marketing space as financial institutions needing liquidity and cross border settlements.
USDC is on stellar. IBM world wire is on stellar. I just don't get why it's considered a failed project when it's not really in competition with other crypto but a bridge for all assets.

Some crypto wants to be digital currency. Some are protocols for all types of currencies and value to flow and exist on a accessible interoperable ledger.

Central banks and financial institutions are going through an upgrade right now.
Fedwire payments and corporate treasury payments/utility. That level of crypto is hush hush and it will never seem like anything is going on until it does.

 

[johnnyredstorm]

Institutions want the best security and liquidity though, you really think they’ll leave Ethereum for stellar? I don’t even see them leaving for the other L1s. To me the other L1s are competing for retail adoption, and unless there’s some great incentives, or a major niche, it’s going to be hard to see any real growth out there as they cannibalize each other.

I 100% view a multi chain world, question just is which chains?

Aped into a tiny *** moonbag if BRUSH on the fantom network. $50 of risk for the lulz. Good ponzinomics with daily compounding of its staking rewards. Dex/NFT market place coin where you can buy/sell Rarity NFTs. Bet is on Rarity pulling in liquidity.

ATOM breaking out again

 

[wr]

The old economy will expire at the end of this year. That's the plumbing for the new system layers.

 

[D Double]

Damn, I edited my post thinking I was creating a new post.

yeah that’s most of my portfolio. don’t want to get caught bag holding for sure. Q4 and hopefully the coming Q1 should def be interesting. i think at minimum, i need to take out my initial investment towards the end of the year.

what are your thoughts on the tech behind QNT? i think johnnyredstorm might have researched it some. it has performed really well during BTC dumps but i have no idea how well it would do in a real bear market.

From my brief look at it, it looked really good. It's a software layer that sits on tops of blockchains with gateways to other tradfi systems allowing enterprises to be able to interact with different blockchains easily and legacy systems
I didn't look too much into it as it's had a good run already. I think this is the second time I'm saying that because I think remember it being popular couple years ago.

My only fear is the token. Overledger itself is not a blockchain but I'm assuming enterprises will need to stake or pay with the QNT token to use it right?
I'm always worried of under-table OTC deals because there's nothing stopping that from happening but I could be wrong. Maybe it's all tied up with smart contracts. I'll have to check.

Tech is there and partners are huge so the usecase of the QNT token is the main question. Iif that ticks all the boxes then its look good to me. Most of the tokens are in supply and there's no inflation so tokenomics look good from a quick glance. I didn't check wallet distribution though.

I'll have to watch the Coin Bureau video about it but looks like one to get during a pullback.

 

[wr]

Same think going on with Flare network launching on XRP.

They're rolling out songbird as a test net before flare comes out.

Core Flare Protocols

Flare is a layer 1 EVM blockchain with 2 core protocols that allow developers to create an ecosystem of robust and decentralized interoperability applications.

flare.xyz

 

[para bellum]

lolli app gave me $500 in BTC

 

[jjs]

Let's say you could pick 10 coins to hold long-term, what are you guys picking? Portfolio allocation between coins does not have to be equal.

I'm thinking BTC, ETH, ADA, ATOM, XRP, SOL, DOT, XLM, MATIC and one more perhaps LINK or AAVE.

Feels like a good diversity in terms of projects. Holding those and staking all the time will have you sitting pretty long-term IMO.

Thoughts?

 

[ballinsam23]

You really can’t go wrong with anything in the top 15.