Cryptocurrency megathread V2 - Gas Fees Galore

[m25105]

Can't view. What's going on with ripple?

https://decrypt.co/58581/moneygram-...e=twitter&utm_medium=social&utm_campaign=auto

 

[meauneau]

How is XRP in green with all the shit going on with the SEC?

 

[m25105]

How is XRP in green with all the shit going on with the SEC?

Deluded bagholders keeps buying more. Banks have stated multiple times as well that they don't care about XRP only RippleNet

Apologies to anyone that holds XRP, but I can't stand Ripple. They're a scummy company, and I advise you all to read the SEC case against them, or articles that summarises it.

 

[TheMaster]

Not following why it's an "error". It's a different way to look at things, but not an error if you do not.

There's, of course, two things that determine price/value... supply and demand. You're only analyzing one side of that here.

He claimed VeChain didn't move much in the past year, when it rose 22x it's value and has been one of the largest growing coins. That's an error of calculation is all, and because he was aware that BTC did rise a huge amount as well but still not as much (about 12x) its likely because VET price is in the low decimals of a $ so at first glance it doesnt look like it's rising much until you multiply it out and realise that one less decimal 0 is a big deal....
It's ok, alot of people new to this make that mistake since different coins have drastically different supplies

Exactly that and each time I check I feel like I made a mistake and should have just kept the money in the bank or in ETFs.

It's ok it's part of this game. Sometimes it will rise and you'll wait for it to dip...but then it keeps rising. And sometimes the reverse.
A correction will not bring it back down to it previous support level usually just bring it lower than where it was it was overextended after a big rise.
As you get more experienced you can use different metrics to help analyze and read some finance evaluations on coins you're into to help figure out what the markets might do, but it's far from a guarantee on how they will actually behave.

If you're in for a long-term hold strategy though you don't need to pay much attention to market fluctuations. The trend is overall very much upward in a big way. Yes there is chance for making more money by trading out on a high into stablecoins like USDT tether (a crypto stablecoin designed to always exactly match the US dollar to mitigate crypto volatility) and then buy back much more of your coins when the price is low. But it's a risk.
That's a trading strategy "sell the greed and buy the fear". Sometimes worth doing but you will find yourself in alot of stress alot and waiting but you can gain this way also.
But for an easier life just HODL as the main strategy since crypto is gaining massive value anyway.

 

[rj144]

He claimed VeChain didn't move much in the past year, when it rose 22x it's value and has been one of the largest growing coins. That's an error of calculation is all, and because he was aware that BTC did rise a huge amount as well but still not as much (about 12x) its likely because VET price is in the low decimals of a $ so at first glance it doesnt look like it's rising much until you multiply it out and realise that one less decimal 0 is a big deal....
It's ok, alot of people new to this make that mistake since different coins have drastically different supplies


It's ok it's part of this game. Sometimes it will rise and you'll wait for it to dip...but then it keeps rising. And sometimes the reverse.
A correction will not bring it back down to it previous support level usually just bring it lower than where it was it was overextended after a big rise.
As you get more experienced you can use different metrics to help analyze and read some finance evaluations on coins you're into to help figure out what the markets might do, but it's far from a guarantee on how they will actually behave.

If you're in for a long-term hold strategy though you don't need to pay much attention to market fluctuations. The trend is overall very much upward in a big way. Yes there is chance for making more money by trading out on a high into stablecoins like USDT tether (a crypto stablecoin designed to always exactly match the US dollar to mitigate crypto volatility) and then buy back much more of your coins when the price is low. But it's a risk.
That's a trading strategy "sell the greed and buy the fear", but you will find yourself in alot of stress alot and waiting but you can gain this way also.
But for an easier life just HODL as the main strategy since crypto is gaining massive value anyway.

Got it, but it's not really related to supply. It's just a ratio of new to old price.

 

[Rob Battisti]

So yes, in Coinbase, my deposit of 2500 into the USD was in addition to the purchase of LINK and ALGO. I was confused as I thought I needed to deposit money before purchasing like Robinhood. I’m going to just take the 2500 back once it clears.

 

[rj144]

So yes, in Coinbase, my deposit of 2500 into the USD was in addition to the purchase of LINK and ALGO. I was confused as I thought I needed to deposit money before purchasing like Robinhood. I’m going to just take the 2500 back once it clears.

I believe if it's already in the USD wallet, you can trade instantly. If not, it takes time.

 

[forum poster]

Deluded bagholders keeps buying more. Banks have stated multiple times as well that they don't care about XRP only RippleNet

Apologies to anyone that holds XRP, but I can't stand Ripple. They're a scummy company, and I advise you all to read the SEC case against them, or articles that summarises it.

I have 2000 xrp.....Bought it at the ATH. If it can get back up to near where I bought it at i'll look at swapping. I think the court case will be ok.

 

[axion]

Newbies be like..

Apparently it was "the single largest daily candle in the history of both Bitcoin and Ethereum by linear value", so not that normal

Not to mention Binance became inaccessible for me and Kraken crapped out, a lot of margin traders lost everything on bad calls when they couldn't access the exchange and there was a flash crash; "ETH declined 64% to find support at just $700".

 

[TheMaster]

Apparently it was "the single largest daily candle in the history of both Bitcoin and Ethereum by linear value", so not that normal

Not to mention Binance became inaccessible for me and Kraken crapped out, a lot of margin traders lost everything on bad calls when they couldn't access the exchange and there was a flash crash; "ETH declined 64% to find support at just $700".

It's not an accident when some of these exchanges suddenly 'crash' or become inaccessable when the prices wildly fluctuate.

Sometimes the markets will disable currencies for 'maintenance' which means you can't trade in them at all at what would the opportune times.

 

[Strychnine]

Great read from Forbes on DeFi.


Decentralized Finance Will Change Your Understanding Of Financial Systems (forbes.com)

 

[TeTe]

Just bought more ETH. Dropping down to $1600 figured why not.

 

[Rdude92]

Just bought more ETH. Dropping down to $1600 figured why not.

Should put that money in ADA or Dot, more potential of growth

 

[Rdude92]

I have 2000 xrp.....Bought it at the ATH. If it can get back up to near where I bought it at i'll look at swapping. I think the court case will be ok.

Wow. $3/4 a piece? That's nuts

 

[deviake]

Just bought more ETH. Dropping down to $1600 figured why not.

Should put that money in ADA or Dot, more potential of growth

Thinking of buying Eth drop but wanna go into ADA & DOT, stuck waiting tho...

 

[forum poster]

Wow. $3/4 a piece? That's nuts

Yep
I did it in 3 parts and I remember them all being over $2. The stellar was around $1 too. Cardano I'm up on and Eth I've profited on quite nicely as I only bought 1 at the ATH.

 

[SSgt Dickweed]

Just bought more ETH. Dropping down to $1600 figured why not.

Planning to bulk up on my BTC Hodling soon.

 

[HeLLMuTT]

You all knew that shit was gunna pop...

lol. Grabbed more GRT at 1.68 and will delegate those tokens to one of my indexers when the gas is not retard status.

edit; Speaking of gas I bought half a eth just so I know I'll have enough to cover moving 4 or 5 different assets out of their farming pools from eth mainnet to brand new pools on the xDai network. So over a whole eth in my wallet to cover 12-15 transaction on eth net. once I'm on xDai gas is pennies. xDai is a layer 2 side chain of eth net.

 

[GoldenGlovez]

Just made my first crypto purchase over the weekend. Any money I put into crypto I will for the most part not cash out anytime soon (adding another source of retirement fund). However I do plan on buying some crypto for long term like dot and eth and then others I will buy low and sell high. Anyone have any good advice for a crypto noob lol?

 

[Rdude92]

Just made my first crypto purchase over the weekend. Any money I put into crypto I will for the most part not cash out anytime soon (adding another source of retirement fund). However I do plan on buying some crypto for long term like dot and eth and then others I will buy low and sell high. Anyone have any good advice for a crypto noob lol?

Checkout JRNY crypto on youtube. Dude knows what hes doing. He did a challenge to turn 10k to 100k, turned that to 80k, didn't reach the goal but you get the point