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Crypto Megathread V15 - Where the hits keep on coming!

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Squintz said:
Maybe so dipshits don’t reply with dumbass comments.

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In the grand scheme of things he’s absolutely correct. He’s not talking grandma buying $50 worth of Dogecoin or a few ETH or even someone who has a couple bitcoins.
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It isn't though. Anyone, pretty much anywhere in the world can acquire cryptocurrency. The taxes are similar to stocks. Do your homework and get in early into a project and you can make a ton of money and nobody is stopping you.

So what would a left wing version of crypto look like then?
 
TeTe said:
Sure, but if you got in early enough with BTC and ETH you could have made a fortune with minimal buy in. Plenty of previously non-rich, non "right wingers" driving around Lambos now because of a minimal investment.

Not easy to do on Wall St.
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Rygu said:
It isn't though. Anyone, pretty much anywhere in the world can acquire cryptocurrency. The taxes are similar to stocks. Do your homework and get in early into a project and you can make a ton of money and nobody is stopping you.

So what would a left wing version of crypto look like then?
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The tweet which was made today not 5 years ago said “helps the rich get richer.” If you think you’re rich today you should probably aim higher. If you think you’re going to get rich off of a $10-20K investment again, you should probably aim higher. I’m speaking generally most probably don’t even have that much invested and some may have more or way more but I’m just using that as an example. If I have $20K invested and if that magically turns into a a couple million dollars in 5 years would I think I’m ‘rich’ then? Naw. Just better off. That’s just me though.

Anyways, he’s talking about the rich as in institutions whom are buying up billions and hundreds of million worth of Bitcoin for $30K. Then there’s retail whales and baby whales. None of us are any of those. Not that I know of at least.
 
Squintz said:
The tweet which was made today not 5 years ago said “helps the rich get richer.” If you think you’re rich today you should probably aim higher. If you think you’re going to get rich off of a $10-20K investment again, you should probably aim higher. I’m speaking generally most probably don’t even have that much invested and some may have more or way more but I’m just using that as an example. If I have $20K invested and if that magically turns into a a couple million dollars in 5 years would I think I’m ‘rich’ then? Naw. Just better off. That’s just me though.

Anyways, he’s talking about the rich as in institutions whom are buying up billions and hundreds of million worth of Bitcoin for $30K. Then there’s retail whales and baby whales. None of us are any of those. Not that I know of at least.
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I’d feel pretty rich if I had 5 million tbh.
 
Rob Battisti said:
I’d feel pretty rich if I had 5 million tbh.
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If you had 5 you’d want 20+. Thing is if you had 5 it’d be a lot easier to get to 20. Hence the “rich get richer”.

I don’t think I’d consider myself rich unless I had xx digit millions. xxx millions and that’s truly wealthy. Again, everybody’s perception and moon is different though.
 
Well these NFT related and blockchain game coins seem to be booming right now holy fuck. Perhaps that will kickstart another pump.
 
Squintz said:
The tweet which was made today not 5 years ago said “helps the rich get richer.” If you think you’re rich today you should probably aim higher. If you think you’re going to get rich off of a $10-20K investment again, you should probably aim higher. I’m speaking generally most probably don’t even have that much invested and some may have more or way more but I’m just using that as an example. If I have $20K invested and if that magically turns into a a couple million dollars in 5 years would I think I’m ‘rich’ then? Naw. Just better off. That’s just me though.

Anyways, he’s talking about the rich as in institutions whom are buying up billions and hundreds of million worth of Bitcoin for $30K. Then there’s retail whales and baby whales. None of us are any of those. Not that I know of at least.
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Any idea that 10-20k will make you a millionaire is based on hindsight. People want to say if I had just invested in xyz, I would be a millionaire but the time xyz was among a million other very risky things. Once something becomes a known, it no longer has a valuation that would let you go from 10k to millions in a few years. Too many people would have gathered to it by then for it to be undervalued. You have eToro and how many companies advertising trading crypto to regular 'Joe Schmoes'. The time of ridiculousness is over. It is the "Shoe Shine Boy" all over again. John F. Kennedy Sr. was getting his shoes shined and his shoe shine boy was giving him stock tips. He got out of everything because if your shoe shine boy is talking about it, it is way too late. He made a bundle shorting the hell out of everything before the great depression.
 
Prefect said:
Any idea that 10-20k will make you a millionaire is based on hindsight. People want to say if I had just invested in xyz, I would be a millionaire but the time xyz was among a million other very risky things. Once something becomes a known, it no longer has a valuation that would let you go from 10k to millions in a few years. Too many people would have gathered to it by then for it to be undervalued. You have eToro and how many companies advertising trading crypto to regular 'Joe Schmoes'. The time of ridiculousness is over. It is the "Shoe Shine Boy" all over again. John F. Kennedy Sr. was getting his shoes shined and his shoe shine boy was giving him stock tips. He got out of everything because if your shoe shine boy is talking about it, it is way too late. He made a bundle shorting the hell out of everything before the great depression.
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Hence why I said the word ‘magically’. Not likely but not completely impossible either. There are people recently within the last couple years that have turned 20K into a million.
 
Rygu said:
Well these NFT related and blockchain game coins seem to be booming right now holy fuck. Perhaps that will kickstart another pump.
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Shit is crazy, the AXS token from that Axie Infinity game just pumped 700% in like a week lol

Keep an eye on Illuvium as well, its a triple A crypto game thats launching late Q3 similar to Axie Infinity. ILV is the game token
 
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Rygu said:
Lmao so they could just create an unlimited supply by entering numbers into a computer as opposed to just printing an unlimited supply.
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It’s the Feds dream come true!

A US CBDC wouldn’t destroy crypto at all. Would it destroy stablecoins? Probably not even that tbh. The whole purpose and creation of Cryptocurrencies is to be the anti CBDC. Meaning, they can and will continue to coexist.

Though, I’ve argued here that I believe in the protocols not the currency value in blockchains.
 
About to do my tax return and get my profits raped by CGT
 
Cardano is one of the biggest risks I see both in my portfolio and to the market as a whole. It’s very difficult to defend any of these valuations when Cardano is the 5th biggest market cap at 39 billion and its basically smoke and mirrors.
 
Rob Battisti said:
Cardano is one of the biggest risks I see both in my portfolio and to the market as a whole. It’s very difficult to defend any of these valuations when Cardano is the 5th biggest market cap at 39 billion and its basically smoke and mirrors.
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I don't doubt its potential, IF it ever did half of what Charles says it will, it will be successful most likely but to say a year ago it will have 1000s of dapps and a year later it has zero is rather bearish.
 
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