Bitcoin explosion and ALT coins thread

[HeffDoesWant]

then you are personally very wrong informed and there is a lot of reading up for you to do. Thank me later

Transactions, nope too expensive not to mention slow.
Store of value, nope fluctuates in value massively and frequently.
Inflation protection, somewhat but hardly ideal with price fluctuations.

I've been respectfully asking the underlying use question on here alot, but received no answers.

 

[Deleted member 547767]

So what’s the inflation like in Norway? I live in the EU, we have 0 - negative interest rates and they say inflation is about 1.5% while that’s way higher in reality. So with these interest rates/inflation you know your purchasing power will go down for sure

Estimated 1.6% in 2020. The krone (our currency) has been very low for a long time. And the oil price has dropped a lot. But both currency and oil prices are on the rise.

Anyway, you wouldn't believe what simple grocery stuff costs here. Even if the incomes are high, it doesn't matter because cost of living is so high. But if you're already rich, these are the times they get richer.

Guess what a coke or a six pack of beer cost here. And what EU country are you from?

 

[Travis Alexander]

I’m in deep on Ethereum I got in at avg cost 352$ per and I picked up a couple bitcoins as well q3 last year. I am holding with Diamond fucking hands and am doing my best not to fixate on these wild swings. I think BTC and Ethereum will emerge as the winners and skyrocket (really hoping ETH does in particular). Hopefully I’ll be posting from my private jet in 2 years.

 

[kenetics]

I’m in deep on Ethereum I got in at avg cost 352$ per and I picked up a couple bitcoins as well q3 last year. I am holding with Diamond fucking hands and am doing my best not to fixate on these wild swings. I think BTC and Ethereum will emerge as the winners and skyrocket (really hoping ETH does in particular). Hopefully I’ll be posting from my private jet in 2 years.

Same. My main holding are ethereum and bitcoin too. I think they counter balance each other . They both have different paths that I agree on.

 

[Travis Alexander]

Same. My main holding are ethereum and bitcoin too. I think they counter balance each other . They both have different paths that I agree on.

We are on the same boat then (granted my portfolio is ETH heavy and I only have 2 btc). My accountant suggested I go big on BTC in March 2020 and I passed to my own detriment. Although I made some great stock plays this past year given the massive dips due to the virus so I’m not really complaining.

It sounds like you’ve held strong for a long time now, good for you. I have traded stocks for years but am new to the crypto scene although so far so great.

 

[forum poster]

I have 3 ETH. A few thousand xrp, stellar, ADA and DASH. I plan on holding for about 10 years and see what happens.

 

[Ballsaque]

Sure. Money is a dirty business. I might be in the wrong in the future. But I have no investments. Just savings in an account with decent interests. I don't like to bet against banks, inside traders, multinational corporations and such. They're always ahead. When you read about stocks, shares, business in the papers you're already late to the party if you consider investing.

I'm curious what makes you so bearish on btc, aside from being in banking

 

[Deleted member 547767]

I'm curious what makes you so bearish on btc, aside from being in banking

I just don't believe in it. I'm old school. I save my money and I always have some cash in case of emergency.

Not a big fan av technology. And to be honest, I haven't done research on bitcoin for a while. As I said, I might be wrong. (We don't advise on bitcoin in the bank obviously)

 

[My2Cents]

Estimated 1.6% in 2020. The krone (our currency) has been very low for a long time. And the oil price has dropped a lot. But both currency and oil prices are on the rise.

Anyway, you wouldn't believe what simple grocery stuff costs here. Even if the incomes are high, it doesn't matter because cost of living is so high. But if you're already rich, these are the times they get richer.

Guess what a coke or a six pack of beer cost here. And what EU country are you from?

I am close by, from NL

Do that 1.6% inflation, does that include house / stock prices? Prob not and that’s where we see the most inflation. People who want to buy their first house are simply not able to because of the huge price increase. I think it did between 50-100% in 10 years which is a clear result of QE

 

[My2Cents]

Transactions, nope too expensive not to mention slow.
Store of value, nope fluctuates in value massively and frequently.
Inflation protection, somewhat but hardly ideal with price fluctuations.

I've been respectfully asking the underlying use question on here alot, but received no answers.

this answers most of your concerns


Look into lightning network if you think it slow and costly. Besides that they are developing tons of stuff as we speak

I don’t care if you buy, only saying you will think of this post with regret in a few years

 

[Deleted member 547767]

I am close by, from NL

Do that 1.6% inflation, does that include house / stock prices? Prob not and that’s where we see the most inflation. People who want to buy their first house are simply not able to because of the huge price increase. I think it did between 50-100% in 10 years which is a clear result of QE

Yes. All aspects of our economy included. Funny enough, house prices went crazy (up) during covid. Greetings! I'd like to visit NL sometime. You clearly have knowledge of macro economics. Good on you.

 

[My2Cents]

Yes. All aspects of our economy included. Funny enough, house prices went crazy (up) during covid. Greetings! I'd like to visit NL sometime. You clearly have knowledge of macro economics. Good on you.

lol we are so close but also never been to Norway as well. Love to go sometimes.

house prices have been going up here as well, strange during the most stressful times since wo2 (not so much if you look into it)

Enjoy your evening

 

[HeffDoesWant]

this answers most of your concerns


Look into lightning network if you think it slow and costly. Besides that they are developing tons of stuff as we speak

I don’t care if you buy, only saying you will think of this post with regret in a few years

The tweet is just marketing with no factual information.

I have had a quick read on the lightening network. If widely implemented it looks like it could enable transactions to be processed in reasonable time, BUT from my reading it can work with multiple coins and so why business prefer bitcoin to say a stable coin?
Business work hard to remove risk that is not related to their core activity, for example currency hedging. Why would they choose to use bitcoin?

 

[kenetics]

The tweet is just marketing with no factual information.

I have had a quick read on the lightening network. If widely implemented it looks like it could enable transactions to be processed in reasonable time, BUT from my reading it can work with multiple coins and so why business prefer bitcoin to say a stable coin?
Business work hard to remove risk that is not related to their core activity, for example currency hedging. Why would they choose to use bitcoin?

Because the other coins are centralized. They have an entity that controles it . Facebook with is libra coin is trying their hand but obviously most people don't trust Facebook due to their information lawsuits .

Bitcoin is decentralized and trusted by the people in the network.

 

[SwamiLeoni]

The tweet is just marketing with no factual information.

I have had a quick read on the lightening network. If widely implemented it looks like it could enable transactions to be processed in reasonable time, BUT from my reading it can work with multiple coins and so why business prefer bitcoin to say a stable coin?
Business work hard to remove risk that is not related to their core activity, for example currency hedging. Why would they choose to use bitcoin?

Stable coins could work but the ones currently circulating are centralized. No one ones to park their money with anyone that doesn’t have an army to protect it. They also don’t want to park their money with a company that can exit scam. You have technology that’ll provide near instant transactions (Nano for example) but they’re not decentralized enough. Further, why would the government back a currency of a private company? FB tried to infiltrate the market with Libra and those in the space outlined a plethora of issues with that happening. The appeal of BTC is that a military isn’t needed to own it or protect it because it’s decentralized. It’s cross-border. It’s cheaper to transfer and eventually it’ll be quick enough to spend. Blockchain is a fairly young technology and BTC is currently the gold standard with first mover advantage.

I was much more involved in the space in early 2017 than I am now. I’m just a guy whose watched his portfolio go up and down for the last few years. I’m by no means a BTC maxi as I hold multiple coins with VET as my largest bag. But BTC definitely has a leg up in the space and should continue its dominance for a long while. When the owners of Gemini come out and say institutional investors have been hitting record setting purchases and new wallet metrics continue to rise, I can only assume that BTC will continue to grow.

 

[Supereem]

this answers most of your concerns


Look into lightning network if you think it slow and costly. Besides that they are developing tons of stuff as we speak

I don’t care if you buy, only saying you will think of this post with regret in a few years

Is this satire?

 

[kenetics]

Stable coins could work but the ones currently circulating are centralized. No one ones to park their money with anyone that doesn’t have an army to protect it. They also don’t want to park their money with a company that can exit scam. You have technology that’ll provide near instant transactions (Nano for example) but they’re not decentralized enough. Further, why would the government back a currency of a private company? FB tried to infiltrate the market with Libra and those in the space outlined a plethora of issues with that happening. The appeal of BTC is that a military isn’t needed to own it or protect it because it’s decentralized. It’s cross-border. It’s cheaper to transfer and eventually it’ll be quick enough to spend. Blockchain is a fairly young technology and BTC is currently the gold standard with first mover advantage.

I was much more involved in the space in early 2017 than I am now. I’m just a guy whose watched his portfolio go up and down for the last few years. I’m by no means a BTC maxi as I hold multiple coins with VET as my largest bag. But BTC definitely has a leg up in the space and should continue its dominance for a long while. When the owners of Gemini come out and say institutional investors have been hitting record setting purchases and new wallet metrics continue to rise, I can only assume that BTC will continue to grow.

This.

 

[My2Cents]

Is this satire?

Yes it is. You got me

You should keep all your money in the bank and watch it grow

 

[HeffDoesWant]

Because the other coins are centralized. They have an entity that controles it . Facebook with is libra coin is trying their hand but obviously most people don't trust Facebook due to their information lawsuits .

Bitcoin is decentralized and trusted by the people in the network.

Stable coins could work but the ones currently circulating are centralized. No one ones to park their money with anyone that doesn’t have an army to protect it. They also don’t want to park their money with a company that can exit scam. You have technology that’ll provide near instant transactions (Nano for example) but they’re not decentralized enough. Further, why would the government back a currency of a private company? FB tried to infiltrate the market with Libra and those in the space outlined a plethora of issues with that happening. The appeal of BTC is that a military isn’t needed to own it or protect it because it’s decentralized. It’s cross-border. It’s cheaper to transfer and eventually it’ll be quick enough to spend. Blockchain is a fairly young technology and BTC is currently the gold standard with first mover advantage.

I was much more involved in the space in early 2017 than I am now. I’m just a guy whose watched his portfolio go up and down for the last few years. I’m by no means a BTC maxi as I hold multiple coins with VET as my largest bag. But BTC definitely has a leg up in the space and should continue its dominance for a long while. When the owners of Gemini come out and say institutional investors have been hitting record setting purchases and new wallet metrics continue to rise, I can only assume that BTC will continue to grow.

With Chinese companies owning and running over 60% of bitcoin mining are you concerned they could be forced to act in unison by the party effectively centralising control?

I believe over 51% is run by just 5 Chinese companies, and in China the communist party rules absolutely without fear of anyone or anything.

 

[kenetics]

With Chinese companies owning and running over 60% of bitcoin mining are you concerned they could be forced to act in unison by the party effectively centralising control?

I believe over 51% is run by just 5 Chinese companies, and in China the communist party rules absolutely without fear of anyone or anything.

No. Because they benefit of attack wouldn't be good for their future plans of crypto. Crypto itself is important even to the chinese.

The chinese were ahead of usa in block chain technology. Usa will have no choice to incorporate block chain as well.