Crypto Megathread V15 - Where the hits keep on coming!

[TheMaster]

Orchestrated by whom?

Almost like it was.
This recent one looks like a response to the launch of staking live.

Other times it has happened without any clear reason but a buying frenzy seems to have pushed the price up then it settles back again. I don't know of there are whales pushing this but it produces a great opportunity for accumulation so I'm not complaining at all.

But there are few if any coins in my portfolio that do this kind of monster swing where you can boost your holdings so easily.

It may also be partly due to it being a fairly new project.

If we compare with VeChain for the past 1 month which people try to swing trade using a lot of technical analysis, we see some volatility but smaller ups and downs which makes swing trading harder to read and more hazardous. I ended up losing as much as I gained trying it with VET so eventually stopped.


But with API3, if you want to be safer as long as you wait it makes huge surges of >20-30% and has proven consistent to fall back quite a bit and you can accumulate more.
I will add the caveat it has worked so far, will have to see if the pattern holds.

 

[meauneau]

Orchestrated by whom?

I think the team has the majority of tokens so they have majority vote and the voted on dumping a few million tokens into circulation recently.

They hold 65% of the tokens, so not the most decentralised imo, same shit as Chainlink the team also holds the most tokens and dump them every week.

 

[TheNinja]

API3 continuing to be the fairly predictable swing trading goose that keeps laying the golden eggs.
These 45% rise then dips over the next 2-3 days that keep happening almost look orcehstrated for you to be able to accumulate more.

 

[Ballsaque]

View attachment 866824

Diversity!!!

Shes a beauty

 

[Motivated BJ Penn]

Chances are they'd lose their ass if they sold now. Don't they freeze the assets for a six month period?

The GBTC has been frozen since January, so they bought it at roughly the same price as right now.

It cannot be traded directly for its BTC value though, as Grayscale is not allowed to sell any. Honestly the effects of a GBTC dump on BTC is not really clear, theres alot of theories out there.

 

[POWER2]

Only reason fiat doesn’t get “stolen” is that it’s insured, besides that, the only difference is that crypto has a ledger to keep track of every dollar. That dollar in your hand, it’s nearly impossible to tell where the transactions went. That’s part of what I like about fiat. But from a business standpoint, it’s bad for business when money can disappear. If crypto got insured, which it could within the next 20-30 years. Then that is a lost point. And before you laugh at what I just said, I knew people that said the same shit about email in the early 90s. Now, that’s the primary used email, but regular mail is still used often.

If crypto gets regulated or insured, it essentially loses its appeal. The point is that it is decentralized and untraceable. You can only insure what is traceable.

Also, no one living a legal life needs money that is untraceable. Besides the obvious point, if you can't claim it on your taxes, you can't spend it without worrying about an arrest.

Most importantly, the world's rich own most of the world's cryptocurrency, so the social experiment at "equity" and "level playing field" has already failed.

 

[POWER2]

Not all of crytpo tokens are currencies. They are intended to be used within the ecosystem such as in PoS blockchains. People exchange them for other (real) currencies/fiat.

 

[POWER2]

You say that wealth is not stored in currency because you are aware that Governments can rob that wealth by devaluing the currency. They cannot do that with bitcoin. Yes, there are thousands of scam coins that have disappeared. But there are legit projects that are going to change the world and you have no clue what is being done/worked on.

Bitcoin is not a currency, it is a store of value and more people are realising this.

Governments can print trillions of banknotes and make you lose all your money/force you to spend it before you lose it to inflation. All your criticisms of crytpo are actually criticisms of fiat.

Cryptocurrency without the stock market or exchanges is nothing. You need a trading/selling platform. Governments can destroy value by simply banning it.

Billionaires are investing in cryptocurrency businesses because it's an easy way to get ordinary people to put more money into the market, which is designed to enrich them exponentially and the rest of us incremently. If you've come to grips with the fact that you're being used to invest more money into their real businesses and assets, go for it.

This whole thing is being held up by the very system that crypto advocates claim to hate. The financial market is a centralized, pro-rich people, government-backed system of getting middle-class people to invest in billionaire's aspirations in the off-chance of earning 4-10% of the payoff. But in this case, you're being sold empty Amway boxes. LMAO.

 

[Rygu]

Cryptocurrency without the stock market or exchanges is nothing. You need a trading/selling platform. Governments can destroy value by simply banning it.

Billionaires are investing in cryptocurrency businesses because it's an easy way to get ordinary people to put more money into the market, which is designed to enrich them exponentially and the rest of us incremently. If you've come to grips with the fact that you're being used to invest more money into their real businesses and assets, go for it.

This whole thing is being held up by the very system that crypto advocates claim to hate. The financial market is a centralized, pro-rich people, government-backed system of getting middle-class people to invest in billionaire's aspirations in the off-chance of earning 4-10% of the payoff. But in this case, you're being sold empty Amway boxes. LMAO.

Do you know how many people of all classes have done a 10-100x in the last 12-18 months?

 

[POWER2]

You do too much of this your brain atrophies.

Your life growing up:

 

[POWER2]

Do you know how many people of all classes have done a 10-100x in the last 12-18 months?

Yes. I also know a lot of people made money before the housing market collapsed and the tech bubble. Examples are plentiful.

In those cases, at least there was some physical asset in play. This is fairy dust.

AND you have governments, like China deploying their own virtual/digital currency. You can't compete with that shit. What if the U.S., England and Russia do the same? Your investment is shit. The average person doesn't care about decentralization. He cares about the gold rush. He'd bail for a safer federally sanctioned digital currency.

 

[POWER2]

Do you know how many people of all classes have done a 10-100x in the last 12-18 months?

Also, you're avoiding the most salient points in my post.

1. World governments decide if this continues or not. Not us.
2. Billionaires are using your fiat cash investments in cryptocurrency to acquire real physical assets. They aren't in this for the digital revolution. They are in it for fiat cash.
3. The cryptocurrency value relies on a system it claims it hates. If the system revolts, you're fucked.

 

[TeTe]

Yes. I also know a lot of people made money before the housing market collapsed and the tech bubble. Examples are plentiful.

In those cases, at least there was some physical asset in play. This is fairy dust.

AND you have governments, like China deploying their own virtual/digital currency. You can't compete with that shit. What if the U.S., England and Russia do the same? Your investment is shit. The average person doesn't care about decentralization. He cares about the gold rush. He'd bail for a safer federally sanctioned digital currency.

Guess some people are still hung up on crypto being a currency. Again, hardly anyone uses it as currency. That's why when Elon said they wouldn't be taking crypto in exchange for cars it meant fuck all.

Buying crypto is an investment in an asset.. An investment in Blockchain technology. Ethereum isn't a store of value or used for buying shit. It's a smart contract, dApp, NFT, etc. platform. Calling it a currency means very little.

 

[Rygu]

Also, you're avoiding the most salient points in my post.

1. World governments decide if this continues or not. Not us.
2. Billionaires are using your fiat cash investments in cryptocurrency to acquire real physical assets. They aren't in this for the digital revolution. They are in it for fiat cash.
3. The cryptocurrency value relies on a system it claims it hates. If the system revolts, you're fucked.

Well why is a lb of gold smaller than a tennis ball worth 30k? Why isn't it a dollar? 10 million dollars? It's not rare the Earth is plentiful with gold. Nobody buys anything with gold.

The answer is it's a store of value, just like Bitcoin. Gold is physical, BTC is digital. Being digital doesn't make it worthless, quite the contrary. We're moving into a digital world. The US, Russia can make a digital dollar all they want, but it's still fiat. They still just created it out of nothing like they do when they print trillions of dollars because they feel like it. BTC is limited to 21,000,000, and unlike fiat which can be printed endlessly and gold which is plentiful in supply both above and underground, there can be no more.

As for alts besides Ethereum, I look at them as like stock in a company. Yes, most are very inflated right now which is why I only hold BTC and Ethereum. To me those two are the best long term holds. BTC as a store of value, and Ethereum for it's technology which I think will become more widespread every year, possibly the NYSE running on it eventually.

 

[meauneau]

What do you mean with real? What does "real" mean in this context, that you like it a lot?

 

[meauneau]

Cryptocurrency without the stock market or exchanges is nothing. You need a trading/selling platform. Governments can destroy value by simply banning it.

There are trading/selling platforms. We have centralised and decentralised ones.

Billionaires are investing in cryptocurrency businesses because it's an easy way to get ordinary people to put more money into the market, which is designed to enrich them exponentially and the rest of us incremently. If you've come to grips with the fact that you're being used to invest more money into their real businesses and assets, go for it.

It is not a 0 sum game. We can all win and profit depending on how much we put in. The same can be said with stocks, the difference being that crypto market is open 24/7 356 where as the stock markets open a few hours for regular folk but longer house (after hours) some some people. It is not fair, crypto is fair.

This whole thing is being held up by the very system that crypto advocates claim to hate. The financial market is a centralized, pro-rich people, government-backed system of getting middle-class people to invest in billionaire's aspirations in the off-chance of earning 4-10% of the payoff. But in this case, you're being sold empty Amway boxes. LMAO.

The only thing that is empty is your brain. Learn about crypto/blockchain/DLT/defi and then come back.

 

[meauneau]

Yes. I also know a lot of people made money before the housing market collapsed and the tech bubble. Examples are plentiful.

In those cases, at least there was some physical asset in play. This is fairy dust.

That is fallacious reasoning. If it is not a physical thing it has no value? Why?

AND you have governments, like China deploying their own virtual/digital currency. You can't compete with that shit. What if the U.S., England and Russia do the same? Your investment is shit. The average person doesn't care about decentralization. He cares about the gold rush. He'd bail for a safer federally sanctioned digital currency.

CBDCs (Government internet money for you) can exist with other crypto projects. Remember that not all crypto projects want to be currencies like the USD or EUR.

The average person is ignorant like you. Once they learn they appreciate decentralisation more and more.

How do we get insurance to people in a part of Africa where there are no banks or insurance companies? There are crypto projects that are working on this.

 

[Rpruyn1981]

I am trying to get some bargain basement RAZOR but holy crap is Gate.io terrible or what?? Gonna have to find an alternate way to get some.

I got mine on 1inch, just transferred eth and swapped

 

[BB in Crazy!!!!]

If crypto gets regulated or insured, it essentially loses its appeal. The point is that it is decentralized and untraceable. You can only insure what is traceable.

Also, no one living a legal life needs money that is untraceable. Besides the obvious point, if you can't claim it on your taxes, you can't spend it without worrying about an arrest.

Most importantly, the world's rich own most of the world's cryptocurrency, so the social experiment at "equity" and "level playing field" has already failed.

Untraceable? That’s the chains are absolutely traceable, it’s literally a digital ledger. The banks can’t trace them, but that’s the point.
I agree being decentralized only works to a certain point, but at the same time it can still operate more decentralized than fiat. For example the way Holochain system works.

As for regulation, that is sadly something that is going to have to happen for it to be taken more seriously and go more mainstream. It will definitely be a learning process, much like the internet has been. Crypto right now is where the internet was in the early 90s, still a long way to go.

 

[BB in Crazy!!!!]

Cryptocurrency without the stock market or exchanges is nothing. You need a trading/selling platform. Governments can destroy value by simply banning it.

Billionaires are investing in cryptocurrency businesses because it's an easy way to get ordinary people to put more money into the market, which is designed to enrich them exponentially and the rest of us incremently. If you've come to grips with the fact that you're being used to invest more money into their real businesses and assets, go for it.

This whole thing is being held up by the very system that crypto advocates claim to hate. The financial market is a centralized, pro-rich people, government-backed system of getting middle-class people to invest in billionaire's aspirations in the off-chance of earning 4-10% of the payoff.

Hey, it’s much better than what we make in our measly investing. I suppose we should be thankful the banks give us a .03% interest rate. And I suppose instead of helping billionaires through crypto, we should instead invest in the stock market where we literally are investing in billionaires for a chance at a much smaller more controlled payoff.