General Crypto, HODLing, and Taking Profits (4 Viewers)

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Cardano was a mess the other day. 95% congestion on the network wasn’t helped by the SundaeSwap dex going live. Dropped transactions, “lost” ADA, people apparently unable to cancel orders or provide liquidity.

They really need to work on scaling pronto
 
HaRDHouSeiNC said:
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That must mean the entire stock market is a scam?

Remember when the news told you no one would ever use the internet or email?
Yah
LOL

GL to you
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You suggested the fact that it’s done well over the past several years means we should be optimistic going forward. Pointing out historic bubbles in response is not suggesting that everything that soars is a bubble. Do you see why?

Not saying it isn’t useful. Just that the price is largely propped up by speculation from people who have absolutely no idea how to value it.

And I’ve taken positions in crypto / can respect people who do if the rationale makes sense. but people who use terms like “buy the dip” is like a poker player recommending that people “play the odds”. It’s a fairly reliable indicator their understanding is close to rock bottom.
 
Stufflymcstuff said:
You suggested the fact that it’s done well over the past several years means we should be optimistic going forward. Pointing out historic bubbles in response is not suggesting that everything that soars is a bubble. Do you see why?

Not saying it isn’t useful. Just that the price is largely propped up by speculation from people who have absolutely no idea how to value it.

And I’ve taken positions in crypto / can respect people who do if the rationale makes sense. but people who use terms like “buy the dip” is like a poker player recommending that people “play the odds”. It’s a fairly reliable indicator their understanding is close to rock bottom.
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Buy the dips now mean
It’s cheaper than it was 1-2 months ago
If you are looking to buy in
Might be time to look and dollar cost average your bank in over a down part of the cycle

No different from the stock market strategy now
I’d buy crypto before ultra volatile small cap stocks right now

Tommy said:
If Solana makes it back into the $200s, I can treat myself to a box of Lemonheads, a Chick-O-Stick, and a pack of Garbage Pail Kids.
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Keep it for 5 years and see how it does for you
Corrections are usually good
People who were weary to buy at peaks are watching now for good entry points to hold till the next cycle
 
Highli99 said:
Panic time is buy time! I grabbed some solana today. I’m going to be trying for the Space Falcon IDO on Monday if it gets oversubscribed. I got my lottery tix secured with staked raydium.

https://raydium.medium.com/space-falcon-is-launching-on-acceleraytor-e32dedd8378b
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I earned 9 tickets to the IDO which I funded for a total potential investment of $450. Only 10,000 units were available and the IDO received over 300,000 entries. $30,000,000 when they were only raising $500,000. Sadly my tickets were not selected but each one only had a 3% chance. When I checked this morning it was up 500% so would have been nice to score. I got my $450 so no loss just a missed windfall.
 
RichMahogany said:
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So not only is the price going up indefinitely, but the rate at which it’s going up will increase indefinitely too? With projections like that it’s no wonder everyone and their grandma is floating a chunk of their net worth in it.

I think it’s going up but let’s be realistic, we’re well past the exponential growth phase.

A team at cal tech has used pretty advanced techniques to forecast growth from this point onward…



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Stufflymcstuff said:
I think it’s going up but let’s be realistic, we’re well past the exponential growth phase.
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You’re saying it will never reach 150k plus?
What if every working age person with a salary bought $1000 in BTC today ??
I wonder how high it would go.

There is not enough BTC in existence for every millionaire to own one if they wanted a tiny hedge
Probably not enough for every multimillionaire even
 
HaRDHouSeiNC said:
You’re saying it will never reach 150k plus?
What if every working age person with a salary bought $1000 in BTC today ??
I wonder how high it would go.

There is not enough BTC in existence for every millionaire to own one if they wanted a tiny hedge
Probably not enough for every multimillionaire even
Click to expand...

Not saying it won’t each 150k. There’s no way of knowing how exuberant ‘investors’ will be.

But all those metrics are horrible ways to value. Lots of people are keen on sticking several thousand in and rolling the dice for a lambo. Institutions are betting that they’ll continue to. But are these financial gurus willing to take inflation free savings vs 5-7% real growth in stocks and/or real estate? At some point there just aren’t new people looking to invest, at which point it becomes a shit investment and use is what dictates price.

Are x00millon Americans putting 1k into Bitcoin just cuz? What if we instead looked at how much is being held at any given time for non speculative reasons? How much do you think is speculative vs for its intended use?

For instance, If I acquire 10k in btc to send internationally and the other person cashes out after receiving for ordinary use, this is only contributing to market cap for a short period of time. You’d need a couple hundred people doing this over the course of the year to add 10k in market cap.
 
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Damn these last few days has been a wild ride. Diamond hands. Hoping for the best with gitcoin o_O
 
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Scored one willing ticket on the Accellorator launch of preANA nirvana on Raydium

Who Hoo! Hoping for a nice bounce.
 

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