Cryptocurrency Discussion

The Emperor's Lounge
#43

It’s important to look at both micro/macro trends.

This is only because the crypto market is currently in a bull run. No one knows when the market cycles are going to change or when the top is reached and turns into a bear market.

Bull cycle

A bull market is a period of time in financial markets when the price of an asset or security rises continuously.

Bear cycle

The opposite of a bull market is a bear market, which is characterized by falling prices and typically shrouded in pessimism.

Bitcoin and Ethereum are somewhat different but Dogecoin and many other coins being promoted by celebs are being driven by hype alone e.g Dogecoin is a complete meme coin - no real use case.

I’m not saying you can’t make a quick buck on these types of coins, but you can lose money just as easily or get left holding a useless coin for long periods, hoping the price will eventually go back up.

What if Elon changes his mind and stops playing with Dogecoin to move on to something else? You’re left holding something with no real value and no one to promote it. Elon is literally playing a game with Dogecoin. Whereas some institutions are investing millions/billions into Bitcoin/Ethereum.

I personally believe crypto will get more popular in the coming years and holding some Bitcoin/Ethereum as a long term investment is a safer idea. However, there are so many factors at play when it comes to crypto assets and some of the top 20 coins today might not even exist next year.

It’s so important to always do your own research and then as you get more confident with the basics, you can try dabbling in some of the riskier coins. And never invest more than you can afford to lose.

Disclaimer: This is not financial advice :smile:

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#44

There is nothing to get.

When bitcoin first came out it was an interesting experiment which allowed for doing away with the need for govt money.

Now crypto has become mainstream enough that it isn’t going away sensible people are starting to accumulate because it now makes sense to do so.

Govt money will get trashed by govt action so people both need and want something different.

But when crypto started it was impossible to say if it would take off, until now.

So , because trading this (in actuality looking for a bigger fool) is impossible simply DCA for the next ten years.

FFS get a hardware wallet.

This is financial advice.

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#45

Thanks guys.
Yeah I think a physical wallet is a sensible advice.
Bottom line, it’s becoming mainstream enough.

#46

I figure I should update my positions now with the new Ultima release. From all my research, I get more and more bullish every day, despite whales doing whale thing.

In no particular order:
XRP, HBAR, QNT, XDC, DAG. I can shill these in more detail in a later post if people want me to. I have a few others I’m gonna consolidate into these bags and/or take profits on once they’re unstaked. There’s plenty of other great projects out there of course but it’s not reasonable to try to invest in them all. My positions have changed a good bit throughout the past months. Despite good returns, my intuition told me I was overdiversified so I decided to narrow my projects down. Still debating consolidating even more.

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#47

Would love to hear your thoughts on what you think is special about these particular projects :slight_smile:

#48

@anon52452268 Great, I recently bought XRP, LTC, ETH and BTC. Thinking about selling LTC and perhaps even XRP with all the fuss going on around XRP… not sure if it is worth holding on to until the end of the year. Do you think it will reach $1 ?

@Sub.Zero what you think ?

#49

XRP - the black sheep of crypto. A lot of angry maxis and misinformation surrounding this one. To sum up my
philosophy, investing in XRP is like betting on the central banks. The XRP Ledger is fast (~3 seconds finality), cheap (fees are pennies and less), and secure (no data breaches, leaks, hacks to date). Although there are many projects building on the XRP Ledger, Ripple is the most notable. Their patented On-Demand Liquidity product leverages XRP to allow financial institutions to instantly move money at virtually no cost. A pricey process that usually took 3-4 days for settlement with a 7% risk of failure, now takes 3 seconds, costs pennies, has effectively 0% risk, and would effectively eliminate nostro vostro accounts freeing up trillions of dollars for financial institutions.

Let’s take a look at their connections:

  • You’ve heard of the World Economic Forum, right? Brad Garlinghouse is literally on the Board of Directors for the WEF. Brad Garlinghouse is the CEO of Ripple.

  • Janet Yellen, the current US Treasury Secretary, is a member of a consultative group on international monetary affairs called the G30. The G30 released a report discussing the use of XRP for cross-border payments.

  • Rosie Rios was the 43rd Treasurer of the United States. There’s a good chance her signature is on the dollar bills in your wallet. She was appointed to the Ripple Board of Directors a few weeks ago. “I’ve dedicated my career to financial inclusion and empowerment, which requires bringing new and innovative solutions to staid processes. Ripple is one of the best examples of how to use cryptocurrency in a substantive and legitimate role to facilitate payments globally,” said Rios. “Blockchain and crypto will underpin our future global financial systems. Cryptocurrency is the what. Ripple is the how.”

That only scratches the surface of their connections.

And yes, they’re in a lawsuit. I suggest following how it’s all unfolding and listening to the discovery meetings when they happen. You got Forbes even writing articles calling out the SEC.

Doesn’t look good for the SEC, IMO. Win or lose, I believe something like 90% of their business is outside of the US. Since the lawsuit was brought on, I believed they’ve signed contracts/onboarded like 10-20 new banks and financial institutions. Clearly those entities don’t care.

This is all I’ll get into for now. And I’ll do the other coins later cause that took awhile. Gotta eat haha.

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#50

Brother, it’s literally at a dollar right now, lol.

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#51

continued…

  • QNT is the token on Quant Network’s Overledger DLT Gateway. Overledger is a many-to-many, network of networks, blockchain OS. Allows enterprises and governments and banks to seamlessly connect and interoperate with multiple blockchains, systems, networks, DLTs instead of being restrained by being only able to use one solution. Partners include Oracle, Hyperledger, and Nvidia. Was just shortlisted on Deloitte’s 2021 Most Disruptive Fintech Awards. Only 14.6 million max total supply. For reference, bitcoin’s max total supply is 21 million.

  • Hbar is the token of Hedera Hashgraph. It uses the hashgraph not blockchain, a new data structure that improves on the limitations of the blockchain. Hashgraph is faster and more secure than blockchain. Hedera’s code is patented. They have a governing council that directs how the software is being developed. Seriously, check out the names of these council members: hedera.com/council

  • XDC is the token on XinFin network. XinFin is a hybrid blockchain optimized for international trade and finance.

  • DAG is the token of Constellation Network. Like Hedera, this isn’t a blockchain. It uses their Hypergraph Transfer Protocol instead. Instant transactions and virtually feeless, DAG is a Layer 0 solution focused on Big Data and interoperability. They are partnered with Quant. They have a letter of support and active contract with the US Air Force as well as a letter of support from the US DoD. Their tokenomics is the fun part. Based on a generative economics model. Basically guarantees that as the network bandwidth grows the value of DAG goes up. When one business/state channel is successful, the other businesses/state channels also increase in value. State channels open up in Q3 I believe. They have about 66 project submissions/application atm from entities looking to build on Constellation and they only just opened up the application process recently.
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#52

Wow…

First of all thank you for that in-depth look into these projects. I see that you are betting on tech and tokens that a lot of massive players and institutions are also betting on, kind of going down that “too big to fail” route, which I think is so smart.

I think I’ll be buying RICH Crypto soon and will take a page out of your book regarding my investment strategy :laughing:

Right now I only hold BTC, ETH, and USDC in a Celsius Network interest account.

But I will be expanding my horizons, these projects look innovative as FUCK haha

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#53

No problem! I attribute all of this to House of Medici haha. Will probably get that new ultima tonight.

And you’re right, I’m betting on the big boys and banks and putting my money where the institutional smart money is putting theirs. Funny thing is, the vast majority of retail investors are completely unaware of these projects besides probably XRP. But with XRP, there’s so much totally organic and totally not misinformed FUD floating around, they’re too scared to invest. Especially with this lawsuit in place. Tbh, I could’ve gotten into way more detail with these other projects but I was starting to get some mental fatigue. For sure research these and other projects I didn’t mention too. I have to pick and choose how I spend my attention so there’s some gems out there that I don’t have or don’t even know about. It’s an exciting time in the space. There will probably be multiple winners based on utility and use case. Goldman Sachs just classified bitcoin/crypto a new asset class like yesterday. Just be aware that these institutions and whales do manipulate the fuck out of this space to shake people out, like they’ve done in other markets. https://m.youtube.com/watch?v=Lhf_2gJJS1I In the end, those who see the finish line and what’s unfolding and can keep their emotions in check will prevail. Also, doing the deep digging and research and connecting dots on your chosen projects will make you immune to manipulation and misinformed FUD.

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#54

I only mine Pi so cannot assist you on that matter, mate. Sorry. Good luck though! :slight_smile:

#55

Thank you for all the knowledge bombs man :pray:

Now I gotta find a way to invest in Hedera! Their council is crazy stacked, and their use cases are so varied in industry :exploding_head:
Unfortunately, I live in one of the most crypto-hostile US states so Binance isn’t available to me…

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#56

That’s exactly the issue.

Most people want central banks to die out which is why we have crypto in the first place.

Not saying it’s a bad coin, but the purists just don’t want another centralized gov just with crypto this time lol

What do you think of the new De-Fi coins?

#57

DeFi is inevitable IMO. So the best DeFi coin should get money!

1 Like
#58

I think so, too.

Although I still think the names are stupid (CAKE, SUSHI, etc) and a bit childish (but so is society today) the coins themselves and the projects are very promising.

And for investors there is a HUGE upside!

I am big in $LINK for now. $SOL looks good as well. Any other recommendations?

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#59

Yeah I completely understand that but I don’t see the wealthiest entities in the world just sitting on the sidelines and letting themselves become obsolete.

DeFi is here to stay and will definitely change the world of finance. They might not be a complete replacement for the current system though, but more of a way of improving and integrating with the current system. Opinion article from Brian Brooks (former Comptroller of the Currency, now Binance.US CEO) https://decrypt.co/53881/defi-self-driving-banks-occ-brian-brooks. US regulations are coming sooner than later.

It would be cool for crypto to fulfill the original dream of it plugging the world completely out of the current system. But I don’t see that happening before they regulate the fuck out of it. https://youtu.be/zG4IUHVN7bM They want to retain control of the system while taking advantage of the benefits of DLT. You see the narrative being set in the past weeks and months about how bitcoin is destroying the environment and used for money laundering and blah blah blah. And people who aren’t into crypto or who believe everything they see are just eating that narrative up. I don’t even hold bitcoin but even I can see that all the FUD against it is pretty ridiculous when you actually put it in context. So I get why all the purists are pissed off. I’d be too. I just know that the biggest and wealthiest entities are gonna do everything they can to retain control of the new financial system. That’s why I’m placing my bets on them.

But yeah I definitely think DeFi protocols are still an excellent play. I forgot to mention but I have two airdrops coming to me in a couple weeks. Flare Networks and Flare Finance. Flare Finance is a defi protocol built on the Flare Network.

edit: Introductory video on Flare Finance. https://youtu.be/3QO_Ih-sfKM Mentions XRP holders in the vid cause those who held XRP for the Flare Network snapshot last December are gettting free Spark (FLR) airdropped in June/July. Flare Finance is doing a second snapshot and airdrop like a few weeks after Flare Network goes live for those holding FLR. The Flare Network itself is an entirely different beast that is worth looking into as well.

#60

Idk man, China banned crypto about 5 times. It’s still there?

They cannot REALLY regulate it until people accept it. But this is potentially the same thing.

Of course they’re not sitting on the sidelines, waiting. The question is how much power they REALLY have (personally, I also believe democracy in the West will die in the same sense anyway, but this is a different topic)

#61

Pure manipulation to scare people. Markets dumped after this and people panic sold. Iirc, the talks of banning were in regards to unsustainable mining practices, not banning bitcoin as a whole. Plays into the whole bitcoin is bad for the environment narrative the media, elon musk, the pope, etc are pushing. The headlines are always scary but never what they actually seem. Context is needed.

https://mobile.twitter.com/DocumentingBTC/status/1395781866528116738

But these are kinda different topics. I’m not talking about trying to ban crypto. I’m talking about regulations being put in place. Regulations would be about effectively integrating crypto into the current system.

If I’m wrong and they actually don’t have as much power as is perceived, I wouldn’t be mad. But still if China says miners can’t mine in china or have to use clean energy only, then those miners are gonna have to listen or move out the country to an unregulated place. If the US regulates the space and its citizens or businesses try to circumvent regulations, they’d be breaking the law.

#62

Just took a dive into $UOS after listening to that new RICH Ultima… For the gamers out there, this is a Steam disruptor. Has crazy partnerships and an established team with decades of experience and connections. Absolute gem.

https://youtu.be/QG4DQnKxdNc this video goes through everything

I’m gonna have to reposition my portfolio or find a piggy bank to break open.

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