Thank you that is great advice. I was fully aware that guy and others on YT are spruikers and price pumpers. On rare occasions you do find insightful and relevant pieces of info such as that clip where the Ripple CEO is attending a very high level conference with a large number of central bankers.
Monitoring the Crypto Bubble
- Thread starter Bullion Baron
- Start date
Thank you that is great advice. I was fully aware that guy and others on YT are spruikers and price pumpers. On rare occasions you do find insightful and relevant pieces of info such as that clip where the Ripple CEO is attending a very high level conference with a large number of central bankers.
You might already know the below, but for those who dont....
The underlying technology BLOCKCHAIN is not "Money"
You will hear Major Banks CBA/JPMorgan/Citi and Central Banks like US Federal Reserve, Chinese Central Bank or Australian Reserve are all investigating using BLOCKCHAIN, therefore BTC is valuable because it is using BLOCKCHAIN.
Value of BTC has nothing zero nada to do with BLOCKCHAIN, BLOCKCHAIN is a Ledger mechanism.
Think of BLOCKCHAIN as a ledger/blance sheet, much just like excel spreadsheet.
Analogy, if Federal Reserve uses Excel spreadsheet to keep its ledger, doesnt make excel spreadsheet valueable, it is just the way Feds are keeping records of "digits of $$$ numbers". And if Feds replaced Excel with Blockchain tomorrow, US dollar does not change in value because Feds started using BLOCKCHAIN to keep records.
Futhermore if Feds started using BLOCKCHAIN, they will not be mining it nor will anyone else have the ability. Feds will directly change/update the blockchain by what ever means they want/control.
Finaly the statement/thinking/misunderstanding that "all Blockchains are mined" is incorrect. Mining is a different mechansim created to release more bitcoins into the market. Satoshi could have created random email generater and emailed BTC to random people too.
The value of bitcoin is what you/others believe is the value.
Last edited:
The value of DLT is in its permissionless technology. This attracts users who are willing to pay a premium over permissioned technologies such as a CBDC or XRP. Hence in the eyes of some XRP is worthless.
BTC is the king because it is permissionless, amongst other qualities such as a finite number of coins, capacity to be mined, first mover advantage…
I don’t hold any XRP, I’m of the opinion that the solution to international transfers will be central bank driven using technology they develop.
BTC is the king because it is permissionless, amongst other qualities such as a finite number of coins, capacity to be mined, first mover advantage…
I don’t hold any XRP, I’m of the opinion that the solution to international transfers will be central bank driven using technology they develop.
TreasureHunter
Well-Known Member
And where (more exactly) do you suggest that we could obtain more reliable information about Ripple (XRP) and Stellar (XLM)?
(besides their own whitepapers and official sites - where they brag about themselves)
Besides Cardano, I think Stellar and Ripple seem like they are (technically) promising projects that actually work. While Bitcoin and Dogecoin are mere poker chips that people just "like".
I think these "technical" coins with great developer teams behind them, with ambitious projects have the potential to become "smaller Ethereums" (although technically rather different from ETH), which also built on the usefulness, technical aspects.
Bitcoin and Doge are rather "loved". Even John McAfee stated that almost nothing is being traded in Bitcoin (paraphrasing), he was a Monero believer...
Last edited:
If you think that they just brag about themselves in their whitepapers then that should be a red flag not to buy.
Whitepapers and roadmaps are amongst the key things to check.
Or just make a token and call it an NFT, then its valuable!
TreasureHunter
Well-Known Member
NFT's seem to be idiotisms, but perhaps I still don't understand well why people would buy a drawn cat's picture for tens of thousands of dollars.
And, according my research - the most underrated NFT-creating platform is actually, the very-undervalued RavenCoin.
when you invested few k on bitcoins in its infancy, your bet is now 60k a unit, the price is just so cheap, why not buy it, you own it in your name.
Value is subjective.
There are NFTs available that are far cheaper and have the added benefit of utility.
In the metaverse individuals exchange value, profiting from transactions amongst themselves, exchanging virtual wealth in the digital world in order to meet their needs and desires in the physical world.
TreasureHunter
Well-Known Member
Bitcoin just climbed above 41 k, an amazing climb. Might have to do with all the negative voices speaking about the poor outlook on economies due to the war. Or, it might not have to do with it.
Thing is, that if you look at Ethereum's evolution, it doesn't look like a crash/collapse, but rather as a correction, so the bullish overall direction (without crash!) is still in the picture.
So, we can't say ETH has crashed.
Thing is, that if you look at Ethereum's evolution, it doesn't look like a crash/collapse, but rather as a correction, so the bullish overall direction (without crash!) is still in the picture.
So, we can't say ETH has crashed.
It just went through an inverse head and shoulders pattern on the 4 hr and thats bullish.
There will be little bumps up here and there until the point of impact. Good times to make a few bucks.
Maybe it will show a little more strength up a little more?
There will be little bumps up here and there until the point of impact. Good times to make a few bucks.
Maybe it will show a little more strength up a little more?
TreasureHunter
Well-Known Member
^
No-one knows.
I am not even sure that forex shapes & figures are valid on the chaotic crypto market. Bitcoin seems to defy the laws of forex. This is not forex... ah, well...
The smaller coins are still DOWN. I assume that a bullish trend will start only when most cryptos start rising together.
What if this is a bump? Or a hump?
No-one knows.
I am not even sure that forex shapes & figures are valid on the chaotic crypto market. Bitcoin seems to defy the laws of forex. This is not forex... ah, well...
The smaller coins are still DOWN. I assume that a bullish trend will start only when most cryptos start rising together.
What if this is a bump? Or a hump?
It doesn't seem that confusing at all.
Even simple analysis is making sense for bitcoin and other crypto. The ranges and trend lines are all very logical and consistent. The whipsaws are all within very controlled ranges and are perfect for institutional money making in both directions.
Ultimately, deleveraging will occur (I'm personally bearish in the 1-2 year frame).
TreasureHunter
Well-Known Member
"Hans Freak" believes Bitcoin is going to shoot up massively:
"Hans Freak" believes Bitcoin is going to shoot up massively:
All the movements are Russian Hackers/Scammers (state or private but mostly private) moving their BTC from wallets associated with Russia ie created in Russia or had withrawals to Russian Banking Insituitions to a different clean non Russia associated Wallets
As for Oligarchs using BTC to circumvent Sanctions or Companies using it to pay or buy anything is DUFFed
Than there is likely millions of inncocent Russains who already had cyrpto wallets and coins.... But we can eliminate 99% of these people because move to "what" lol most ordinary single country citizens of any country inc Australia don't have a real foriegn bank account etc (not to be confused with domectic bank account with foregn currency facilities). So if these people were with an exchange that was not blocking them it would be being converted to cash.
Lets be real, local corner store in Russia or open markets that were not accepting BTC last month is not accepting BTC today lol
Yeah that's a joke too.
Perhaps the best thing about my time in the US is that I have kept a bank account there and use the app 'wise' (recommend everyone to check out this app - you can create bank accounts in almost any country with it and move money around extremely efficiently).
A Russian wallet? I thought cryptos were untouchable if you hold the keys?
On exchanges - People who want to trade or cash out