Official Bitcoin Thread

I actually think dude is making some really good counterarguments. There’s a lot of hurdles in cryptos way before it’s mainstream everywhere. Once we have index funds offered at banks to mom and pop and easier methods of buying and storing (wallets are incredibly tedious and detrimental to worldwide adoption for everyone whether you like it or not) we’ll see real life changing moves.
 
Yea I dont see why we cant have point and counterpoint arguments about crypto. You're still speaking in speculation (Oh the market is gonna go up eventually, crypto is still new etc). Nobody can predict what is going to happen in the crypto world in the future no matter how many head and shoulder knees and toes cup and handle patterns you point out. Crypto is not a traditional investment, it's a gamble at this point
 
dblplay1212 said:
You're really ok with the amount of fraud going on with ICO's? You think that encourages more people to enter the market? You think that's good for growth of crypto? And I'm not saying people should be spoon fed what's legitimate and what't not. What I'm saying is there should be an expectancy of something being legit. That's not the case right now. If I buy something on the DOW, I expect the company to be legit. It may be a turd and go bankrupt in a year but it wasn't an all out scam. That's not the case with an ICO. Many are just flat out scams.

I'll bring up eBay again. I used to buy shoes on there all the time. The scams got out of control so I found another venue to use my money. Could I have spent hours and hours going over pics and praying I bought a real pair and then dealing with chargebacks after I got fakes? Sure. But why when there's another easier option? It may cost a tad more but the savings in time is worth it to me.

In my opinion, I think crypto would greatly benefit from becoming easier to use for people that aren't overly tech savvy and from getting the scams and market manipulation under control. I honestly don't see how anyone can argue otherwise unless you're just homering up for crypto and claiming there's no issues.
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To that point, yes I agree. There should be regulations so flat out scams cannot enter the market; that will happen but it will take time. Also, I agree on the wallet, sending, transferring funds, spending crypto point as well. If those functions are streamlined then usablity and adoption will ramp up. Crypto is still a young buck as a market, even the valuation is a drop in the bucket compared to more mature markets. Give it time for projects, governments, and businesses to set the frame up and next thing you know Susy from the suburbs is going to benefit from blockchain. I’ll give an example of shoes since this is a shoe forum: we will be able to know 100% if shoes are authentic or not thanks to the blockchain
 
reputory said:
To that point, yes I agree. There should be regulations so flat out scams cannot enter the market; that will happen but it will take time. Also, I agree on the wallet, sending, transferring funds, spending crypto point as well. If those functions are streamlined then usablity and adoption will ramp up. Crypto is still a young buck as a market, even the valuation is a drop in the bucket compared to more mature markets. Give it time for projects, governments, and businesses to set the frame up and next thing you know Susy from the suburbs is going to benefit from blockchain. I’ll give an example of shoes since this is a shoe forum: we will be able to know 100% if shoes are authentic or not thanks to the blockchain
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Agree with all of this. If anything I've posted came across as anti-crytpo, I apologize. That's not the case at all. I'm just a relative newby to it so giving my view on things and the things that make me hesitant to go real heavy into it just yet. I definitely think one of these will end up as the Amazon of the crypto world, it's just a matter of which one.
 
Ayeee crytpo thread has been poppin' I see. Glad there was some healthy arguents in here with some good energy on both sides :pimp:

These are the types of discussions that will mold the future, these are the convo's that we will be referenced 10, 20, 30 years from now. And both sides will take part in molding what the end product will become. You have the visionaries and the "whats now" sides going at it. And then you have the form vs function argument. I really like the fact that people are even interested in engaging in these convo's because its so easy for the average person to overlook it because they don't understand, but arguing or discussing it, even if you're on the fence or against it, shows that its real.

I personally think that crypto is at an interesting crossroad, and its been there for a while now. We have teams (or companies) with ideas/products that they create on the blockchain, and then we have the currencies (byproducts of some of said teams).

Best case in point, everyone's 2nd favorite household name crypto - Ripple/XRP. Ripple is a company, XRP is a cryptocurrency.

Ripple is the technology, XRP is the currency. Ripple is the vehicle that moves XRP. Ripple has a CEO, XRP is a token that even if Ripple were to shut down, would sustain itself thanks to the blockchain.

Ripple should be on the NYSE/NASDAQ, because its a company, it has a product, it has employee's, it has a physical location. You should be able to invest in it, but at the moment (at least) its a privately held company.

XRP, is a cryptocurrency. Its a digital asset for payment. It can be used, like any other cryptocurrency, to exchange for a service or good. You wouldn't pay your local Pizza man in AAPL stock. Thats ridiculous, its a stock. Ripple, should be a stock.

XRP, should be a currency. Despite however you feel about the token, its platform, the parent company that created it, or whatever, you can send it to your friends, family, or pay for services and goods, just like you could in dollars and coins.

So, why is crypto at a crossroad according to myself? Well, because it needs to be sorted out. The Crypto market needs to decide whether it wants to be more like the Stock Market, or whether it wants to be like the FOREX market. Because at the moment, its a cross between the two.

We measure satoshi's like pips, but we speculate these teams like they're publicly traded companies. ETH is a platform that you just so happen to be able to create currency tokens on. But I personally wouldn't pay anyone in ETH. I trade ETH, but if I really wanted to pay someone in crpyto, I would use one thats more currency-like, or at least centered around being an actual currency and not a development platform. To me, thats just like paying someone in my AAPL stock. Thats stupid. Why should I pay you in ETH? I should pay you with a currency. I should pay you in LTC.

I wouldn't pay anyone in EOS, Cardano, NEO, or TRON. Because those weren't marketed as fiat-esque tokens. Bitcoin, Litecoin, XRP, BCH, Monero, DASH, etc etc were designed for that.

I personally think that the crypto market should be split into 2 categories, currencies and platforms (or whatever better suitable names that would fit). And we should have trading markets accordingly. Still decentralized, still playing by the new rules of crypto/blockchain culture, and still 24hr a day/7 days a week/ 365 days a year. Cryto never sleeps. Not on holidays, not on weekends, not after dark. It should stay that way.

But at the moment, we're playing stocks and forex all in one market. And thats where I think the market needs to mature in the future.

In my head we should view BTC as a currency trading pair like in the forex market BTC/USD just like EUR/USD. The dollar doesn't have a market cap- Neither should an actual crypto currency. We should be able to day trade sats like pips. BTC (and other fiat trade-able crpytocurrencies) should be used globally as a currency. And politics, world news/issues, etc should dictate its price, because its a currency. The same way those things affect the dollar, euro, etc.

But we should view ETH in a similar way we see a stock. ETH should have a market cap, because the moves the company makes, the partnerships, the upgrades/announcements should effect the price. Not world issues. Whats going on in a third world country shouldn't effect my AMZN holdings, unless Amazon the company had a part in the situation. The same should be said for Ethereum. There should be a number of ETH tokens with a cap that dictates the market cap. I should be trading ETH differently than how I trade BTC. Because I don't trade FOREX the same way I trade stocks.

But thats just how I see it.
 
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Been out of pocket...In a middle of a move and no internet for 3 weeks so far at home (only online at work when I can) :lol:

Talk about a disconnect.

Are we still in holding mode?
 
was browsing the bitcoin discord. Very informative info, learned some stuff I was not aware of, I went down the rabbit hole lol
 
Been buying all year..m pretty much throwing money at the sinking ship. But I believe in bitcoin and rhe blockchain so I'm not tripping...5.5k is still in play and I think once we get close to 5k and these wall st investment vehicles launch its a wrap...

Western union just filed a patent with btc and ltc

Coinbase got some super investor vault

Fb lifted the ban quietly

Volume has been really low on most exchanges and the market overall isn't seeing much action so one big partnership and some mainstream news will take us to 30k... on the next bull run...
 
lamichaeljames2 said:
So you're saying on paper you think people run to Crypto if the stock market goes down?????? I know for a fact that won't happen. Crypto is more volatile.. no ones taking out their $$$$ from the stock market and putting it into Crypto
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For people who are invested in crypto and understand it yeah I'm sure that it is plausible that some would take their money out of a **** stock market if crypto wasnt undergoing this level of correction. That's not even a stretch of thinking

For those who don't care about crypto, of course they wouldn't.
 
tay1 said:
For people who are invested in crypto and understand it yeah I'm sure that it is plausible that some would take their money out of a **** stock market if crypto wasnt undergoing this level of correction. That's not even a stretch of thinking

For those who don't care about crypto, of course they wouldn't.
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That's obvious but we are talking about moving the needle... the original question was "If the stock market goes down. Will crypto boom like gold?"
 
lamichaeljames2 said:
That's obvious but we are talking about moving the needle... the original question was "If the stock market goes down. Will crypto boom like gold?"
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And his answer addressed that. Bitcoin has been said to be digital gold by many. When the stock market drops, a lot of people move their money to other things like gold/silver etc. So on paper, like he said, moving from the stock market to digital gold would make sense.
 
ssgochin said:
And his answer addressed that. Bitcoin has been said to be digital gold by many. When the stock market drops, a lot of people move their money to other things like gold/silver etc. So on paper, like he said, moving from the stock market to digital gold would make sense.
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It is true when the stock market drops people move their money to REAL assets ( I don't think crypto falls under real assets). You are correct that BTC is treated like digital gold and it should be invested that way but he asked will crypto boom (most likely referring to his portfolio and not specifically BTC which IMO neither will. Every bear market has huge reversions and huge spikes ie. BTC 6k-11k give or take a few hundred). I haven't bought BTC in years but now that I have some free time I am looking in to trading BTC and ETH over the next year.
 
I just watched that whole debate video it was very good. Like Peter, I wish I got in early (because I would've sold by now) but I still own no crypto. Hope you guys are doing alright.
 
xxsupremexx said:
If the stock market goes down. Will crypto boom like gold?
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It will sky rocket. The fed is very ill equipped to respond to a recession compared to '08. QE is ending globally and we have barely started QT... The massive balance sheet the fed holds is just beginning to be reduced; interest rates are barely starting to rise; companies are buying back shares at record levels... if another major decline were to occur the simple solution of cut rates/print money won't be so simple....the whole point of crypto is to be a deflationary asset free from central bank control/manipulation, naturally fiat devaluation will drive money to crypto. As for the crypto vs gold debate, it's been covered so many times so I don't really want to get into it; but crypto is far superior and as time passes and older generations die off we will see it play out. Crypto is Gold 2.0.

The market is very overvalued now; no denying that. A few big names are basically carrying the entire market (FAANG+), it won't be pretty when the ride ends, and we all know it ends eventually. I'm still holding a large position in the stock market, a large position in crypto, and a whole lot of cash. Trying to be prepared for whatever happens.
 
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hennessy said:
I just watched that whole debate video it was very good. Like Peter, I wish I got in early (because I would've sold by now) but I still own no crypto. Hope you guys are doing alright.
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Everyone that wasnt in wish they did and majority still arent in lol. I hope people dont miss another wave but it looks like itll happen again.
 
Certain stocks will do well when the market crashes...

Gold and silver will be the way to go if you want to preserve your wealth in the next cycle of fiat money creation...

Crypto is being adopted and worked on behind the scenes. Reading the web , you can hear the chatter about partnerships and adoption. Wall st is getting ready for the big push..

I been buying on the way down since january.... I'm all in
 
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