Bitcoin and other Crypto...

[Aventus]

 

[Spy Bee]

Supercycle theory seems like the likely outcome to me. All Time High's not far away. Get the fuck out of dodge with good profits before Christmas. Ideally before December.

 

If you're not in XHV, you still should be. 

[Spy Bee]

On 01/06/2021 at 08:20, tokyojoe said:

Spy Bee's XHV has been going up and down like Norwich City.

Indeed. Thorchain integration is imminent. This is a massive game changer. XHV ftw!

[Gnasher]

Bitcoin to crash again?  I know little about it but it's now overpriced according to JP Morgan crypto analyst. Seems the previous crash has given big backers (Whales) itchy feet. Compared to Gold it seems Cyba Gold is to much of a risk. 

 

https://cointelegraph.com/news/bitcoin-price-crash-isn-t-over-says-jpmorgan-strategist

 

[Spy Bee]

18 minutes ago, Gnasher said:

Bitcoin to crash again?  I know little about it but it's now overpriced according to JP Morgan crypto analyst. Seems the previous crash has given big backers (Whales) itchy feet. Compared to Gold it seems Cyba Gold is to much of a risk. 

 

https://cointelegraph.com/news/bitcoin-price-crash-isn-t-over-says-jpmorgan-strategist

 

When 25% of all the US dollars in existence have been printed this year, how do they think the value of BTC has decreased? How can you even project a value onto something with no utility apart from that of a store of wealth?

[Gnasher]

Just now, Spy Bee said:

When 25% of all the US dollars in existence have been printed this year, how do they think the value of BTC has decreased? How can you even project a value onto something with no utility apart from that of a store of wealth?

I don't know, not a clue. I'm guessing big investors (Whales) may turn to safer investments whilst the froth of smaller get rich punters are having second thoughts which added together equals an over inflated price?  

 

Like I say it's all double Dutch to me but didn't the crypto analyst from JP Morgan value bitcoin at between 26 -30 dollars?  

[Spy Bee]

Aye, or zero: https://www.fxstreet.com/news/bitcoin-investors-need-to-be-prepared-for-the-value-to-go-to-zero-jp-morgan-202105271107

 

I wouldn't worry too much about what JP Morgan think.

[Gnasher]

Another aside to the value of Crypto is the prospect of rising inflation due to the money pumped into Western economy's.

 

Not sure which way inflation would affect Crypto prices but I'd guess high inflation would be a positive as people would look for other ways to invest capital. I could well be totally wrong though, it's a hard currency to predict.

[TheHowieLama]

The return of the Prodigal Son.

[Gnasher]

1 minute ago, Spy Bee said:

Aye, or zero: https://www.fxstreet.com/news/bitcoin-investors-need-to-be-prepared-for-the-value-to-go-to-zero-jp-morgan-202105271107

 

I wouldn't worry too much about what JP Morgan think.

I think that was more an out of context  throwaway line to tell investors to be prepared to take hits to be honest. 

[Spy Bee]

 

Magic internet money will make you rich!

[Gnasher]

3 hours ago, Spy Bee said:

 

Magic internet money will make you rich!

Big few weeks for crypto coming up, could go south

 

https://www.independent.co.uk/life-style/gadgets-and-tech/bitcoin-price-crash-crypto-prediction-b1852916.html

 

[Colonel Bumcunt]

How many of you have gotten rich so far? 

[Captain Turdseye]

26 minutes ago, Colonel Bumcunt said:

How many of you have gotten rich so far? 

I’m up £280 at the minute. Living the dream. 
 

There was a poster the other week (Red74?) that had about £20k in the Doge. 
 

I’m ready to pounce with some savings but it’s basically a lottery. Need to buy a time machine and bring back the Crypto almanac. 

[Captain Turdseye]

Still kicking myself for not buying Bitcoin last March when it was going for £3,000 because of the Covid. 

[Aventus]

1 hour ago, Captain Turdseye said:

Still kicking myself for not buying Bitcoin last March when it was going for £3,000 because of the Covid. 

We might need to eat a few hedgehogs and see if we can get covid-2021 going 

[Captain Turdseye]

15 minutes ago, Aventus said:

We might need to eat a few hedgehogs and see if we can get covid-2021 going 

Go full Randy Marsh and shag a pangolin while Mickey Mouse watches on. 
 

[Red74]

2 hours ago, Captain Turdseye said:

I’m up £280 at the minute. Living the dream. 
 

There was a poster the other week (Red74?) that had about £20k in the Doge. 
 

I’m ready to pounce with some savings but it’s basically a lottery. Need to buy a time machine and bring back the Crypto almanac. 

Wealth is temporary. Poverty is permanent 

[TheHowieLama]

I am at plus 3 USD - have paid Coinbase $53.80 in fees for that privilege.

[Red Shift]

8 hours ago, Gnasher said:

Bitcoin to crash again?  I know little about it but it's now overpriced according to JP Morgan crypto analyst. Seems the previous crash has given big backers (Whales) itchy feet. Compared to Gold it seems Cyba Gold is to much of a risk. 

 

https://cointelegraph.com/news/bitcoin-price-crash-isn-t-over-says-jpmorgan-strategist

 

He’s probably not wrong, given the general consensus.

Not the end of the play, just the latest Act. If crypto is to succeed, ultimately it needs to fail as a speculative instrument anyway. Just enjoy the ride and hopefully some lucky small time traders strike it big in the short term - and by short term I mean 3-5 yrs.

 

The mess of hyper inflated national currencies (which means they have little or no value if we consider the time line back to central bank inception) has to be resolved, but can’t be because the world’s reserve currency is not pegged to anything since the end of Bretton Woods.

[Red Shift]

35 minutes ago, TheHowieLama said:

I am at plus 3 USD - have paid Coinbase $53.80 in fees for that privilege.

How come?

[TheHowieLama]

1 minute ago, Red Shift said:

How come?

Fees for the trade.

[Captain Turdseye]

3 minutes ago, TheHowieLama said:

Fees for the trade.

I think if you’re just switching coins the fees are barely noticeable.
 

I fell into that trap at first. I was selling all of my coins, paying an unfair fee, then using the cash to buy different coins, again with an unfair fee. 
 

If you just switch ETH to Lumens or BTC on the app then the fees are pennies. 

[TheHowieLama]

Nice. 

 

How do you skirt the entry cash?

So you can move the balance once it is in Coinbase - but if I want to put more in I still pay the transaction fee right?

 

Also, where do you trade the dodgey stuff? CB blocks me from certain "currencies".

[Red Shift]

5 minutes ago, TheHowieLama said:

Fees for the trade.

I used to send ETH from the CEX exchange to my wallet, but just stopped doing it when I found out CEX wallets are cold storage. They’ve never been hacked in their history, and yes, I know it’s a risk, but moving small amounts of crypto around is a killer. ETH 2 is supposed to end that robbery.

 

That’s why I like Wirex because their fees are the lowest. If I put NZ$$ into my wallet (automatically loading the Visa card) its free. If I trade within app, fiat to crypto is mostly free, crypto to crypto is usually a fraction of 1%. I use the card to pay for groceries and bills.