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Cryptocurrency Discussion


Guest XioGanMeiMei

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It's subjected to people's speculation because of their emotions. One moment you can have millions and the next you are bankrupt. So no.

 

And cryptocurrency is extremely damaging to the environment through its excessive demand on power plants and it contributed to chip shortage worldwide, forcing people who want to buy a computer with good GPU to pay insane prices. No different from those scalpers who eat up all the Xbox and PS5 stocks..

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  • 3 weeks later...
Guest Chiva Som

looking to invest but so volatile.

To me it is almost like collecting monopoly money and hard to spend it.

Everyone's buying and this chain reaction seems to force the price up.

Wondering what will happen when the music stops.

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If I have $50K to spare (ie not for raining days) the most I dump in is 10-20% ($5K - $10K) and must be prepared to lose everything. And that's based only on my personal risk-taking profile. 

Edited by yuquidam
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  • 2 weeks later...

I honestly have good faith in Ether. In fact, I just bought some this morning. I think it's a safer bet than Bitcoin. It has better prospects in the near future. The dominant argument against crypto is the energy wasted in mining. But the Ethereum blockchain is already changing to a more environmentally-friendly model. In technical terms, it is changing from "proof of work" to "proof of stake". This transition already started last yr and will continue later this yr. If transition is successful, then we are going to have a much greener Ethereum blockchain that consumes much less electricity to run. 

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  • 2 weeks later...

Anyone has opinions on where crypto will go from here, in the near term and until year end?

 

Several analysts have put astronomical price targets on BTC for the end of the year. Recently, Cathie Wood announced her price target as 500k. Some who are more conservative say 100k. While on the contrary, in the near term, some analysts say that there may be another crash with BTC falling to 20k.

 

I personally am quite optimistic on near-term and long-term prospects, for ETH (more so than BTC... Even though for now, their prices are tied to each other). I think what the recent crashes last week has shown is that there exists a floor to the prices of these assets. In the past week, many individuals and corporations with significant influence in the financial markets (e.g. Goldman Sachs, JP Morgan) have also recently shown their acceptance of this form of assets. Institutional acceptance will continue to broaden while the technology on which these digital currencies are running on continue to improve. These positive catalysts pave the way for more all-time-highs for these assets. 

 

Obviously, there also exist significant downside risks so it is advised not to put more than what you are willing to lose in these assets. 

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17 hours ago, adriantan said:

Is it good time to buy at dip?

how to start with this investment?

Hi, in my opinion, actually there may never be a good time. Like when I first invested, I thought the slight dip was the time to enter. Then it went down further as more investors panic sell. So, while it may look like a good time to enter your position currently, be prepared that the prices may go further south as it’s still quite bearish. So 3 things to prep yourself if you want to play this crypto game: 1) to be able to stomach a paper loss of more than 50%; 2) to be able to sleep losing all the money you invested; 3) do not leverage. Good luck!

Be cool, like a breeze...

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  • 2 months later...

DISCLAIMER: THIS IS NOT A FINANCIAL ADVISE. JUST A THREAD FOR CRYPTO ENTHUSIAST.
DISCLAIMER: THIS IS NOT A FINANCIAL ADVISE. JUST A THREAD FOR CRYPTO ENTHUSIAST.
DISCLAIMER: THIS IS NOT A FINANCIAL ADVISE. JUST A THREAD FOR CRYPTO ENTHUSIAST.

https://www.coindesk.com/cardano-all-time-high-market-capitalization-overtakes-bnb

As of now it is 2.5 USD per coin. I believe by the end of year it'll be reaching around the estimation of 100 USD per coin. 

Just like Ethereum which I have predicted amongst my friends that it'll increase above 4000 SGD after EIP 1559 and thanks to one of my other friends suggestion who was working in Etherscan back then. The gas fee is stupid high because of 1 Smart Alec that made a transaction of US$1 million dollars and throttled the whole chain. Also there was a call for a soft reset by the developers team but Vitalik burnt his Eth instead.

This is the roadmap for Cardano (ADA): https://roadmap.cardano.org/en/ What do you guys think? 

To those who aren't savvy about cryptocurrency, it is just like torrenting where they do p2p exchange of numbers and validation - agreeing that said person have the attested resource. Personally, I firmly believe in cryptocurrencies ever since Venezuela's confidence of using Bitcoin instead of their own FIAT for their daily use of currency exchange. 

DISCLAIMER: THIS IS NOT A FINANCIAL ADVISE. JUST A THREAD FOR CRYPTO ENTHUSIAST.
DISCLAIMER: THIS IS NOT A FINANCIAL ADVISE. JUST A THREAD FOR CRYPTO ENTHUSIAST.
DISCLAIMER: THIS IS NOT A FINANCIAL ADVISE. JUST A THREAD FOR CRYPTO ENTHUSIAST.

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  • 10 months later...
Guest Satoshi

Coinbase shut down their affiliate program and are getting rid of CoinBase pro. Recent history would suggest there could be trouble ahead for CB so tread lightly.

If Coinbase were to go insolvent, this would break crypto the crypto space like  we have never seen before.

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  • G_M changed the title to Cryptocurrency Discussion
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