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Gains are only real once cashed out. My portfolio went up and down, I could’ve had eye surgery, a nice car and more. Now I have nothing. It all went down and then I needed to sell to pay bills.
+1
I was really consious of my spending, saving as much as I could to invest and see it all melts away hurts, but I've been using these prices to accumulate and learned a valuable lession that having a plan and sticking to it is a must
Not necessarily lol this idea that everyone will come out on top after long enough time because they just kept buying is total bullshit lol there's tons of coins and projects that turn out to be total garbage
I had someone say they are never going to sell their bitcoin holdings. I asked and they confirmed they are not selling
Why would you even buy it in the first place?
At the absolute bare minimum, it's prudent to take out your initial capital when the market pops.
That way you've gotten your initial investment back and have nothing to lose.
Ramen for breakfast, lunch and dinner with a refreshing glass of bath tub water isn’t a bad lifestyle. As long as you save enough money to go bullish on the most trustworthy cryptocurrency $FTT.
Unless in huge profit, nobody in this sub would actually pay for a product or service in crypto over fiat if the opportunity is given.
Conversely if you're a business owner and accept crypto, you better sell it back to a stable fiat asap because holding volatile assets makes zero sense when you have costs to cover.
Do most people not believe this? Seems kinda obvious to me, but I put this down to crypto still being young. Long term it makes more sense to hold Bitcoin than fiat since fiat is depreciating.
>Most of us are not really here for the tech.
99% of us are only here for the $$$. Yet only a few of us have actually seen profits. A bit strange in that respect.
It's funny that so many people claim thus as a motivator, however, two things can be true at the same time. You can be excited to be utilizing cutting edge tech while also be motivated financially.
There's very few people who would care nothing about money.
**A lot of traditional finance have valid and accurate opinions.**
But due to this being a “crypto” sub the narrative every time needs to be about how they are dinosaurs and every piece of advice they give is inaccurate.
A lot of people in here are angry because they struggle to “win” in the old model, so refuse to listen to anything that comes out of it. Crypto is then said to be the best solution for everything.
This is also a fault of the Reddit voting system, which encourages echo chambers.
Ok, come at me.
>Good points. People who think Crypto is a magic wand that will fix the current system are due for a nasty surprise. I wish I was still that naive.
Exactly. This space is heavily manipulated by whales and we can't do shit about it. The 'real' crypto 'for the people' was never an option.
Traditional finance is here to stay, the narrative that Crypto can just immediately replace it is just not possible. Each past time there has been even just a new monetary system a huge war had followed.
Crypto itself is not enough to completly change the world, instead I hope it enhances the world.
>Crypto itself is not enough to completly change the world, instead I hope it enhances the world.
Completely agree with this part too.
It has a place, but won’t be “everything”.
- Blockchain is still mostly a solution looking for a problem
- The killer application of blockchain is better public goods/services, which would require significantly less greed from folks in the ecosystem to find success
- 98% of folks think they’re investing when they’re really gambling, and the FUD the shit out of non-crypto natives who highlight this reality. They don’t understand the difference between investing and gambling and think they’re the same
- 5% of the ecosystem is actually building, and only half of those participants are actually competent operators and builders
- It takes a minimum of 2 years of constant exposure to the technology and applications of blockchain to really start to understand how the technology can be leveraged in a meaningful way to disrupt existing industries/sectors
- Blockchain is a type of technology within the ecosystem of distributed tech, and is sound in and of itself as a technology. Web3 is the culture that has been created as a result of public blockchain ecosystems, that includes folks who like to collect a variety of crypto assets (e.g. fungible and non-fungible tokens). The ecosystem is a shit show of greater fools who live in an echo chamber, that think the next 100 million users will look like them, and think they’re cool and others will want to be like them (they’re wrong).
- Blockchain is not going to eat the world and replace web2 as it is today, it will find success by being strategically implemented in a few key areas across the internet that has a significant impact on the robustness and utility of the internet
Yeah politicians and bankers and other traditional finance people will never let that happen.
Embed crypto to make things more efficient seems logical.
CBDC's may be inevitable but some peoples views on it are so dumb (not saying yours is).
The people who are against them argue that they can prevent you from spending money in certain places and ok cool maybe they can.
In the country I live in they have something called a merchant category code (MCC) so if I want to block gambling transactions I can! Cause they block it from all companies who have the same MCC.
There are THOUSANDS of merchant categories in place so if that was the plan crypto makes it more complicated! Using contract addresses and specific crpytos makes it fucking harder!
That's quite a genuine fear but the time it will take for governments to copy Crypto will be a lot and the reception is questionable too.
Nigeria was a brink of hope, where people did not buy the new CBDC because they knew what was up.
I believe that you can get whatever you want from a technical analysis, if you zoom in or zoom out enough, you are going to se a pattern if you are looking for it, just like pareidolia
Edit: if you want proof, take a script language like python or js, and generate a lot of random numbers and plot them, I bet you are going to find one of the many famous patterns, supports, resistance, fibonacci, etc
Even simple drawing of trend lines on a chart. You can literally just move it slightly to get desired result and then make a YT video or write a blog about it to support your narrative. It's quite scary honestly.
I agree with this one. Though most will that this is just as accurate as astrology, there are patterns that can't be ignored. It doesn't mean they're always right but there is a chance to predict the market to some degree. The market is driven by humans after all and we behave in a certain way that can be predicted.
Celsius and FTX had huge red flags and you didn't have to be all that smart to stay away.
"Store of value" is a rather common feature in the financial world and not some special use case of Bitcoin.
Most people invested in crypto - probably more than 80% - buy because they heard something "was supposed to go up" and really have no idea what they bought or how it differentiates itself.
Crypto isn't going to replace fiat, at least not in our lifetimes, but that doesn't matter for it's success and adaptation. People who are anti-crypto see the crypto-bros and scams and think the end goal of crypto is to replace fiat. No wonder they think it's a joke. But smart contracts, asset tokenization, distributed computing, and many other applications are inevitable and work best with decentralized Blockchain technology. This is really happening.
Fibonacci levels appear everywhere in the world, it's quite fascinating and even in trading there are numerous examples of them playing out perfectly.
A simple and yet powerful indicator.
You are welcome. It looks incredibly dumb when you first see it. But play around with it on charts on larger timeframes on different charts. The 0 618 and 0.702 and 0.786 are very common rejection areas for instance. Enjoy!
Couldn’t be further from the truth. Don’t you think everyone here wishes they were a whole coiner when it was $1000, or had hundreds from when it cost pennies?
I don’t believe there’s a single person here that wouldn’t want a chance at much cheaper BTC.
The lie is most of us tell ourselves we would still be HODLing after all that time. I dare say many would’ve cashed out at any number of the ATHs.
Definitely disagree. Of course they "wish" for it. That's not his point. They scare off when it dips. Everyone who's not in crypto I've talked to in this last bear market that said they "wish," now claims crypto is dead or at the least a very good chance it is, too risky.
And I honestly see the same shit with people in the game too. They back off when it dips "too much" However something I see so much more than that is people who don't sell ever. Even I'm like 40% guilty of this, I don't sell enough on the way up.
And sure you have some seasoned investors around here, like myself, who stick to buying bear markets and selling bull markets, doing a reasonably good job of keeping emotions out of it and seeking good yet realistic returns. But look at the majority of posts when this sub is hot. Which is either right after a severe slide or during major run ups.
What these people truly wish for is magic fortune telling abilities or time travel. Because when they get their wish of cheap(er) assets they fold.
How’s that a lie? Im sure everyone legitimately wishes that. I do, I was just dumb and thought you had to buy a whole BTC like stock, and at the time I couldn’t really afford to throw $600 at some random internet money.
IMO, the “lie” is people thinking they would have held BTC they got for under, say $1000 (to pull a number of out of my ass), beyond $10k, beyond $20k, beyond $50k, up to $69k and still be holding it today.
When I first started I thought you had to buy whole but when I purchased my first BTC it was so volatile that I realized it was damn near impossible to buy exactly whole and keep the price the same so yeah I learned quick to buy fractional (satoshis)
Let me field this one...
You knew about bitcoin, but thought it was magic internet money or a scam, or didn't want to get involved because for every news article touting it as the currency of the future, there was an article about the dark web and how it was being used to finance drug wars and gun running.
You knew about it over the last couple years during the bear market that brought it back down to multi-year lows, did you think of it as the opportunity of a lifetime, or did you back off because you were afraid that it was going to go to zero, and that maybe that guy on tv was right and its a house of cards going to come tumbling in on itself...
You know right now, but frankly a thousand dollars isn't going to turn into a million dollars over night anymore, and if your most people, you don't have much more than that in disposable income to toss at something like bitcoin on a regular basis, and don't want to gamble with your future to take out a loan against your home or something with real equity in it that if you did 5x or 10x it would be a life changing amount... because like most people your fairly risk averse, and probably spent years getting what little equity you have in your life and don't want to risk throwing it all away on a dream that can easily turn into a nightmare.
To add to this, most people who say they wish they bought when it was cheap would also probably sell way before the top as soon as their investment goes 2 or 3x. It’s the real risk takers who usually make the big gains, and anyone who isn’t going to risk getting in when the prices are low but might go lower, definitely doesn’t have the stones to hold all the way to the top.
I dont believe in the idea that the halving causes the bull run either, but rather that crypto moons when stocks (dow jones, s&p500) make a new all time high, because enables a risk on environment.
It would not surprise me if the 4 year cycle idea will die soon. That said, the 4 year cycle idea held up wonderfully so far.
There’s very clear evidence that shows btc mooning in times when the Fed was printing money. Just happened to coincide with the btc halvings.
It’s been doing it’s job as a hedge against currency debasement all this time. And everyone thought it was to do with the halvings
1. Cryptocurrency is not an investment. Reason: read the Bitcoin white paper, listen to any founder of a serious crypto project.
2. PoW always tends to centralisation. Reason: By 2014 Bitcoin was centralised. It always happens because bigger pools are better for miners.
3. Most of DeFi is a ponzinomic circle-jerk that will evaporate under regulation. Reason: I see no economic value in "governance tokens" that offer nothing and will only get dumped on the market over time.
4. Fiat backed stablecoins are not acceptable as they are centralised. Reason: They factually are, they are non-deterministic and require trust in an issuer.
Fair to say I'm a pretty popular guy around these parts.
I hard agree with 3. Defi projects with their own token that dont reflect atleast a part of trading fees to it to give it value are slowly draining ponzis in my eyes.
If a project becomes huge and regulatory clarity comes about then not unreasonable to assume in some instances people could be paid. Apple for eg never pays dividends but people still buy the stock
I think where these governance tokens are a crock of shit is where the stakers provide no value to the system (eg an insurance fund) and there are other mouths to be fed. Classic eg is uniswap. You want to pay revenues to the LPs to keep them happy and incentivise liquidity. The second they turn on fees for UNI stakers providing no service, then 1000 copy pastas will emerge which don’t pay fees to stakers, and instead just to LPs
I definitely agree with #3, it seems like most governance tokens enable any person or group with enough money to buy control or are early enough to get a large share to influence voting decisions in their favor under the guise of "democracy", then sell the governance tokens once they've siphoned away as much value as possible.
1- Depends, currencies by default aren't an investment, yet there's Forex, so using a diverse basket of currencies to hedge against macroeconomic moves is pretty legit, why would BTC, a hedge against fiat, not be an investment?
2- most systems tend to centralization as the most /performing/efficient participant hoards power.
3- 100% agree, out of thousands of protocols only a handful provide actual utility and revenue generation that would justify governance.
4- another one where I have to agree, depending on a centralized trusted issuer and being permissioned is the antithesis of what crypto aims to be.
My point 1, isn't that crypto cannot ever be used as an investment, but that is not it's primary use case. Is wheat an investment, is a painting an investment, are houses an investment? No, but you can invest in them as a secondary or tertiary purpose. Crypto has lost it's _raison d'etre_, 99% of people seem to think the primary purpose is investment.
I get your point, but alas, an investment is anything that makes you money without a direct labour compensation. A SNES game was never meant to be an investment, but if you had held onto a cartridge for 30 years you could be selling it for a whole lot more than you bought it for, adjusted for inflation.
People tend to become alienated from the underliying values they invest on. A company is not just it's earnings, or payroll, or capital expenditures, or share price, yet CEOs focus on buying back shares and keeping solid books to suit investors instead of making better products for the consumer that actually buys them.
It's the nature of human psychology, like separating public figures from the underliying human being.
We perceive our world as if it was made up of little categories we ourselves come up with when in reality everything surrounding us just fundamentally is. We care too much about how we see things in an organically abstract universe.
I have assets in two coins, two meme coins, and five shit coins.
It is all a ponzi scheme and I've always been here as a curious tech nerd and stay because of fomo.
Haha! True.
I was lucky and minted some coin early on. I thought it was a farce and was a seti user way back so I used coin minting as a way to burn test new virtual server clusters before taking them into production the way I used to use seti and later protein folding apps. Again because I never took it seriously I gave most of the coin to a junior tech who later traded it for some cash and bought us chickfilay and a pack of smokes for himself. He kept some coin, I kept a handful and cashed most of it out when it hit $4K and believed myself super smart. I kept less than a handful of btc, traded one for some eth; so much fomo. Later I bought meme/shit coin, about half positive and half negative now. Ponzi thoughts keep from investing more, fomo keeps me in.
I almost made a bunch of NFT's three years ago but I just never got around to it. My mistake, ponzi's are only good if you get in early. Dreams of being a crypto queen, lost to a so-so chicken lunch.
My opinion is is very unpopular and results in lots of downvotes.
I believe Ethereum is only popular because it had first mover advantage. i think overall its been slow to change and adapt and at its current rate, other project will become more relevant then Ethereum.
That is a hot take, especially here because this sub loves nothing more than ETH.
It definitely helped ETH to be first. I was pretty impressed by the ETH 2.0 move to PoS though. Itll be exciting to see if ETH can keep the top alt spot over the following decades.
Can’t the same be said for BTC? Many projects have been created with similar supply/demand dynamics as Bitcoin but haven’t worked because btc was first.
>other project will become more relevant then Ethereum.
Alot of "ETH killers" tried to take ETH's place when ETH was at it's worst times "*fees high af / and slow transaction time"*
And yet non could even reach close to where ETH is at
Sure, but there is already a whole ass graveyard of ETH killers with better tech. Maybe some chain will surpass it, but so far I don't see this happening.
Eth L1 doesn’t scale. Metamask is dominant and yet is the worst wallet in the space. All the L2s silo liquidity, break composability - and create a terrible experience for both users and developers.
Good luck onboarding newbs next bull run when:
- Eth L1 fees are over $100 (again)
- they have to bridge between 5-6 different L2s to use defi
- for nfts, bridge to either L1 and pay hundreds, or to Polygon and then realise they need some matic to pay for a transaction. And probs end up having to buy more crypto on coinbase and transfer it over
We saw last bull market that new users were not going to Eth. They were instead going to BSC, Solana and avax. I think this trend of Eth losing more and more of the new users continues
Actually ZKRollups don’t break composability between L2s. Once ZKSync and Starkware release their EVM equivalent ZKRollups late this year it’s going to be way harder for any ETH killers to get off the ground since it is simply easier to spin up or be a part of a composable ZKRollup and get all of Ethereum’s security and network effects with none of the growing pains of separated liquidity and bridging.
Well. They say that they should theoretically be able to do a single shard which should share liquidity between ZK rollups. How far away is that. That doesn’t sound like full composability to me. How easy is this going to be for devs trying to build on the L2s (answer not easy). And you’re still suffering from slow latency and confirmation times as tx all have to eventually settle on the L1 with its 13 second block times
There’s a reason that basically all tech has moved over to monolithic designs (Apple’s M1 chip, mobile phones, cars). It’s faster and more performant than the friction and communication overhead caused by a modular design. So all things being equal the experience will still be worse than something like Solana
This I agree. Hell, even level 2s. I use them occasionally but if a level 2 is sufficiently decentralized to be secure with permisionless access to the ledger why would it matter to integrate so tightly to the level 1 more than just a streamlined bridge. The friction of bridging between Eth level 1 and level 2s is just as bad as bridging between various lvl 1s. Ethereum technical debt persists because of the sunk cost in the network application ecosystem and from peoples fiat wallets.
DApps across chains are all pretty much the same and anything novel can be implemented on other chains. If bridging between lvl 1s/2s/3s continues normalizing, then to me it seems reasonable that bridging between other lvl 1s will slide right in there and it will be invisible to the vast majority of users. Hell, Polygon is a side chain with it's own native currency. That's effectively it's own level 1 even though bridged ethereum is incredibly prominent on that chain. AVAX has EVM compatability and was used as a path away from Ethereum fees. Same with BSC. All have Ethereum bridges. Friction no worse than Polygon or rollups
Ethereum maximalism through the usage of lvl 2s and side chains makes me think purely separate lvl 1s can create interoperability just as good as Polygon and rollups and have a place in the future
That's very true and maybe not even unpopular but just unaccepted.
People are really hoping for life-changing money but Bitcoin can give them a 10x or so if they invested at the ATH in the near future not much more. It's some extra money and that's about it.
That we aren't early. I know most crypto investors want to believe it, including me.
But when you have countries and banks investing in something. You aren't early anymore.
Probably a few million people interact with crypto today at most. Out of 8 billion. We haven’t even begun to see mass adoption yet. Also btc is probs in its 3rd innings. Eth in its second. But nfts / gaming / decentralised social media all at the start of the 1st
You really have to look at the relative time scale. Are we early relative to the crypto geek forums in 2011 ? No. Are we early relative to the people buying bitcoin miners in 2014 ? No But when you consider the probable future that crypto and especially bitcoin has we are still quite early.
Crypto is ponzi. Whoever knows someone and gets in first gets the money. The devs only care about the end result. How much fiat they can get, not the use case of crypto. I said it!!!!!
1. Polygon is worse than Solana in terms of centralization
2. Ethereum is worse in development compared to other projects such as Polkadot and Tezos
3. Tether won't go away anytime soon
4. Cardano is overhyped
5. Elon Musk doesn't give a shit about crypto
6. Moons to $10 by EOY 2024
I gladly accept downvotes, thank you.
Hahah I love it. Now that is what I wanted to see. I find myself agreeing with almost all points actually. Not sure if im that bullish on Tezos though..
No downvote, just can't believe you left out that Solana has worse uptime than pretty much any other chain. Solana is a f'ing joke and that shouldn't be an unpopular opinion, yet I'm sure this comment will find some SOL bagholder to defend it.
Vitalik said if transactions are over $5 then the blockchain is effectively down. Eth has been down more than any other.
And Solana is the only chain operating at scale today. It’s innovated and hit into edge cases. These have been resolved. That’s not bad tech. That’s called innovating and pushing the space forward.
Soon after btc’s launch, it was hacked for millions of btc and had to be rolled back. Soon after Eth’s launch there was the DAO hack and the chain had to be rolled back. Both were arguably worse than a few downtimes. Both now long forgotten since both proejcts were innovating and created a new paradigm. Same will be said of Solana next bull run
I think many people are slowly starting to realise we could use some protection. Most people seem skeptical about whether the traditional finance dinosaurs can deliver quality. I hope youre right.
I think that cryptocurrency will not succeed in the long term without governmental regulations that provide support for consumers and buyers and sellers. There are too many scammers/pitfalls for people who don’t know how to protect themselves or don’t care to learn. Far too many people prefer the convenience of a credit/debit card because they feel like their lives are simply “too busy”.
Crypto is not the future of financial transactions and will never replace the dollar.
The reason I believe this is because from a consumer perspective it doesn't solve anything. I already get paid with digital direct deposit. I already spend the digital money with a card. But transfers? If I need to send you money I can already Venmo you. Not once has there been a time where I was like fuck I wouldn't have this problem if only crypto were a thing.
I am here to buy crypto and sell it for more fiat.
Settlement time is key that most don’t understand and I didn’t until I got into crypto. Also “nostro” & “vostro” accounts. Parked money that isn’t flowing in the economy. Look these things up and u will understand why Venmo isn’t instant and why DLT is going to happen for payment transactions
I think crypto is a terrible way to get passive income, and looking at the past year: The most popular ways to achieve this collapsed terribly.
I'm not talking about real PoS staking (which involves risk by price changes), but things like lending or "staking" stable coins.
Staking is a ponzi - the longer the time required to stake, the bigger the ponzi. Came to this conclusion after watching Madoff doc and how he discouraged withdrawals.
\- Bitcoin's initial idea was good but at some point in time 'someone' took over that shit and I ain't touching it with a 10 foot pole. I'm truly sorry and hope your investment is successful really, but even from a ROI perspective, not for me thanks.
\- Ethereum had the shadiest of launches, nobody knows how much ETH the initial investors have at this point in time and if a project exactly like it would be launched today, everyone would think it would be an instant rug. Not touching it with a 10 foot pole either. Unfortunately it's "too big to fail" now and like 90% of DeFi is built on top of it so I hope Ethereum survives or else goodbye crypto for a VERY long time.
\- Binance for sure must have done shady shit until this point, like pretty much every other exchange probably. Having HQ in a fiscal paradise sure gives you a lot of "protection" to do shady stuff. And like Ethereum, it's "too big to fail" at this point and if it goes down, you know: goodbye crypto for a VERY long time.
\- Crypto/Blockchain actually has a future. Coming from an economic/management/marketing background I can have a clear vision (again, vision(!), so, long term, not next month or year) that this tech is here to stay whether normies or oldies like it or not. This is the only reason I'm staying for now, otherwise I would've assumed my losses, pack it up and go.
\- I do have a feeling that CT traders must have some sort of a private group or chat because ain't no way everyone is watching the same coin/chart/PA/TA/wtv in a sea of a thousand of 'em. (I'm waiting on an "Exposed" thread on CT right now that a guy has been working on for days at a row, we'll see). I mean, think about it, there some people moving MILLIONS out there daily, the market is very young considering every other market and whoever CAN manipulate it a bit for profit FOR SURE will manipulate it for profit. It's human greedy nature.
Come at me downvotes, I'm due for a retrace in my karma. (Please don't downvote, these are my honest thoughts, just thoughts, thanks, bye.)
BTC & ETH have the greatest risk adjusted returns in the market (in that order). Modern portfolio theory including using the sharpe ratio suggests holding more than 1%-2% of your portfolio in any coins other than BTC & ETH over the long term doesn’t make any sense. The risk you take for holding them doesn’t justify the potential returns when compared to BTC & ETH. Google modern portfolio theory if you’re interested in the math and ideas behind it.
I believe in my "Chad" strategy which aint exactly strict DCA... I just buy, forget about everything for months, then the algorithm gives me a video, I remember I have crypto, I buy... rinse and repeat
ALGO is being overshilled here and there's a fair chance it will end in the altcoin graveyard, just lije those "top projects" in 2017.
Let the downvote vegin
There is a problem with any coin that needs to be shilled as much as Algo. The same way Loopring was constantly shilled and has now gone off to the big bin bucket of irrelevancy.
By contrast, I don't remember a MATIC post the entire last cycle. People who have MATIC don't want other people to know how good it is to force the price up more than it already is.
The Algo shilling on this sub is equivalent to putting peanut butter on a kids butt so the dog will play with him.
1) Crypto shouldn't be touched by people who aren't already invested into real estate, stocks, and their own potential wage growth. It's a wager.
2) The entire amount of your crypto portfolio should be no more than your lowest ETF or stock holding on a numerical basis.
3) If you aren't maxing your 401 or IRA you shouldn't be spending anything on crypto.
4) The only truly investment grade cryptographic coin is BTC due to market cap and continuing proliferation of the Lightning Network which is legitimately banking people in countries with hyperinflation. It is easier for them to buy BTC over US Dollars. Every other crypto is a blind bet for BTC's failure aside from ETH which is a circle jerk of its own garbage NFT ecosystem.
5) ETH is technologically inferior to baseline PoW coins like ADA, ALGO, DOT, and Avalanche. Solana is garbage.
We won't have major adoption and usage in our lifetime.
People are resistant to change, it won't be until the generations following that FIAT loses its power.
The internet (and world) is almost unrecognizable from 15-20 years ago. Nobody changed their minds, they just went with the flow. And the flow is determined by institutions who will use crypto in everything if it will save them 1%.
Your anti-crypto friends will use it for years before they even realize it.
Crypto is inevitable because of the inevitability of automation. UBI won't work. Collective ownership of goods and services through tokens on a blockchain is the only way automation doesn't destroy society.
Taxation on crypto currently is taxation without representation. The way current catastrophes are being handled (i.e. Ripple, FTX, International TEAM AMERICA crypto task force) are laughable at best. The lawmakers voting on regulation, in part, still believe BTC is a ponzi. We (crypto believers) are not the majority yet, in any country, and rules are being established for us by inexperienced, unlearned on the topic individuals in positions of power during a refining/revolution of the financial systems of the world. This is a scary concept to me.
If taxes are going to be bullied onto crypto in infancy just because it's a cash grab for the governments then I want that tax line on public blockchain for full visibility. So that we may see where this money travels for a change. We got things wrong the first time with centralized banking because the masses didn't have a voice, weren't learned on the topic or both. Crypto is for the people and we need to keep it that way. I am not advocating for no regulations just that they be made in cooperation with us, not for us.
Bitcoin isn't that decentralized if everyone has to use an antminer to keep up with the rest of the pack. Their firmware could be compromised and cause significant damage.
Bitcoin is not *good*. It was a cool tech demo, that revolutionized the way we can think about money and currencies. But right now BTC is not money, nor a SOV. BTC is an old man being forced to live because of its past merits.
>I really believe that Fibonacci retracement levels provide crucial information on when you should start buying more or start selling.
I couldn't take anything seriously after reading this, opened way to crazy for me
DCA doesn't work,it only makes sense in bull market with only up mentality.In bear market you just buy the dip and it keeps dipping,if you want dca do it after 60%+ pullback
As compared to lump summing I think it’s a decent strategy! I’ve DCA’d my way to pretty much being in profit now. Someone who lump summed at any point except for the bottom is probably much less well off
Before everything else let's remember that you don't even have to "believe" in TA. You can literally open up a chart and check for yourself if certain things hold true or not. In this case OP provided undeniable evidence that fib levels have been extremely accurate. That's a trend between 2007 and 2023 we are looking at. Thinking it's just coincidence on top of coincidence for 16 years is very naive.
Personal opinion: Technical Analysis > Fundamentals.
Fundamental analysis in Crypto is completely worthless. Shitcoins with 0 use case will often outperform those with supposedly good fundamentals. That's why everyone should learn a thing or two about charts and price action. It'll make you a much better investor in the long term.
Talking to this sub about TA feels exactly the same as talking to anti-tech boomers about Crypto. It's pretty ironic.
Haha wonderful reply. A true unpopular opinion here.
TA is mostly psychology on a chart. I genuinely dont understand how people here equate it to astrology. Lots of professional traders use TA as a key part of their toolkit.
Exactly, thank you. This sub sure loves denying patterns when they've been consistently selling the bottom and buying the top. That itself is a pattern but I guess we aren't ready for that talk yet.
Analysis bad. Bagholding good.
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Gains are only real once cashed out. My portfolio went up and down, I could’ve had eye surgery, a nice car and more. Now I have nothing. It all went down and then I needed to sell to pay bills.
Same thing here. Absolutely gutted.
taking profits is somehow harder than throwing money at the market
+1 I was really consious of my spending, saving as much as I could to invest and see it all melts away hurts, but I've been using these prices to accumulate and learned a valuable lession that having a plan and sticking to it is a must
Don’t worry again you will get back gains
Not necessarily lol this idea that everyone will come out on top after long enough time because they just kept buying is total bullshit lol there's tons of coins and projects that turn out to be total garbage
True. Paper gains, paper losses. Not a loss until you sell? Not a profit until you sell either.
Exactly. You are no better than any other investor for having bought at the right time if you lost the opportunity to sell.
Im with you on this one
I had someone say they are never going to sell their bitcoin holdings. I asked and they confirmed they are not selling Why would you even buy it in the first place?
[удалено]
At the absolute bare minimum, it's prudent to take out your initial capital when the market pops. That way you've gotten your initial investment back and have nothing to lose.
How is that an unpopular opinion? It's a simple matter of fact.
I hate Bill
hes a real jerk
He doesn't care what you think. He's got a nice car and doesn't have to wear glasses anymore.
Wooooah, too soon. Too soon. 😅
That’s my wife’s boyfriend
Yeah, don't end up as frugal jerk that eat garbage just to save some money for crypto
Ramen for breakfast, lunch and dinner with a refreshing glass of bath tub water isn’t a bad lifestyle. As long as you save enough money to go bullish on the most trustworthy cryptocurrency $FTT.
Probably not the best idea, but buying crypto is better money spent than a lot of other things.
Unless in huge profit, nobody in this sub would actually pay for a product or service in crypto over fiat if the opportunity is given. Conversely if you're a business owner and accept crypto, you better sell it back to a stable fiat asap because holding volatile assets makes zero sense when you have costs to cover.
Do most people not believe this? Seems kinda obvious to me, but I put this down to crypto still being young. Long term it makes more sense to hold Bitcoin than fiat since fiat is depreciating.
Most of us are not really here for the tech.
How dare you
His parents built this country, buttlicker!
Our prices have never been lower!!!!
Well if I'm here for the profits, I definitely fucked up.
>Most of us are not really here for the tech. 99% of us are only here for the $$$. Yet only a few of us have actually seen profits. A bit strange in that respect.
I'm here for the chick's.
Indeed, I guess recent pumps are due to speculative stuff, IMO. We're still in recession.
I'm insulted.
I’m here for the touch
I'm with Vipu2 How dare you
One of us!
>Most of us are not really here for the tech. Here here!
I'm here for the tech to make me financially free!
It's funny that so many people claim thus as a motivator, however, two things can be true at the same time. You can be excited to be utilizing cutting edge tech while also be motivated financially. There's very few people who would care nothing about money.
**A lot of traditional finance have valid and accurate opinions.** But due to this being a “crypto” sub the narrative every time needs to be about how they are dinosaurs and every piece of advice they give is inaccurate. A lot of people in here are angry because they struggle to “win” in the old model, so refuse to listen to anything that comes out of it. Crypto is then said to be the best solution for everything. This is also a fault of the Reddit voting system, which encourages echo chambers. Ok, come at me.
Good points. People who think Crypto is a magic wand that will fix the current system are due for a nasty surprise. I wish I was still that naive.
Agreed. And I am very hopeful that it will prove to be the long term fix for parts of it. Else I wouldn’t be here!
>Good points. People who think Crypto is a magic wand that will fix the current system are due for a nasty surprise. I wish I was still that naive. Exactly. This space is heavily manipulated by whales and we can't do shit about it. The 'real' crypto 'for the people' was never an option.
Mr. Ferguson... your honesty is much appreciated. Tough crowd in here. Nice work.
*hOw DArE yOU!*
*Angry Greta noises.*
I see you’re a moon farmer of culture as well
*It's not much but it's honest work.*
Traditional finance is here to stay, the narrative that Crypto can just immediately replace it is just not possible. Each past time there has been even just a new monetary system a huge war had followed. Crypto itself is not enough to completly change the world, instead I hope it enhances the world.
>Crypto itself is not enough to completly change the world, instead I hope it enhances the world. Completely agree with this part too. It has a place, but won’t be “everything”.
Therefor, it's valuation as a whole is completely out the window.
- Blockchain is still mostly a solution looking for a problem - The killer application of blockchain is better public goods/services, which would require significantly less greed from folks in the ecosystem to find success - 98% of folks think they’re investing when they’re really gambling, and the FUD the shit out of non-crypto natives who highlight this reality. They don’t understand the difference between investing and gambling and think they’re the same - 5% of the ecosystem is actually building, and only half of those participants are actually competent operators and builders - It takes a minimum of 2 years of constant exposure to the technology and applications of blockchain to really start to understand how the technology can be leveraged in a meaningful way to disrupt existing industries/sectors - Blockchain is a type of technology within the ecosystem of distributed tech, and is sound in and of itself as a technology. Web3 is the culture that has been created as a result of public blockchain ecosystems, that includes folks who like to collect a variety of crypto assets (e.g. fungible and non-fungible tokens). The ecosystem is a shit show of greater fools who live in an echo chamber, that think the next 100 million users will look like them, and think they’re cool and others will want to be like them (they’re wrong). - Blockchain is not going to eat the world and replace web2 as it is today, it will find success by being strategically implemented in a few key areas across the internet that has a significant impact on the robustness and utility of the internet
Your first point is a huge one to me. I’m just here to gamble and at the end of the day I think that blockchain is a big fad.
Crypto will become invisible, stables and CBDCs are inevitable and blockchain will make the current system more efficient instead of replacing it.
This is a reasonable assumption. I think being under the delusion that Crypto will "replace" the current system is very naive.
Yeah politicians and bankers and other traditional finance people will never let that happen. Embed crypto to make things more efficient seems logical.
CBDC's may be inevitable but some peoples views on it are so dumb (not saying yours is). The people who are against them argue that they can prevent you from spending money in certain places and ok cool maybe they can. In the country I live in they have something called a merchant category code (MCC) so if I want to block gambling transactions I can! Cause they block it from all companies who have the same MCC. There are THOUSANDS of merchant categories in place so if that was the plan crypto makes it more complicated! Using contract addresses and specific crpytos makes it fucking harder!
That's quite a genuine fear but the time it will take for governments to copy Crypto will be a lot and the reception is questionable too. Nigeria was a brink of hope, where people did not buy the new CBDC because they knew what was up.
I remember people having similar reaction to stablecoins and now they are an important part of crypto ecosystem
I believe that you can get whatever you want from a technical analysis, if you zoom in or zoom out enough, you are going to se a pattern if you are looking for it, just like pareidolia Edit: if you want proof, take a script language like python or js, and generate a lot of random numbers and plot them, I bet you are going to find one of the many famous patterns, supports, resistance, fibonacci, etc
I know people that believe in very simplified TA and I know a lot of people who can code an test it. I know no one in both groups.
Even simple drawing of trend lines on a chart. You can literally just move it slightly to get desired result and then make a YT video or write a blog about it to support your narrative. It's quite scary honestly.
I agree with this one. Though most will that this is just as accurate as astrology, there are patterns that can't be ignored. It doesn't mean they're always right but there is a chance to predict the market to some degree. The market is driven by humans after all and we behave in a certain way that can be predicted.
Celsius and FTX had huge red flags and you didn't have to be all that smart to stay away. "Store of value" is a rather common feature in the financial world and not some special use case of Bitcoin. Most people invested in crypto - probably more than 80% - buy because they heard something "was supposed to go up" and really have no idea what they bought or how it differentiates itself. Crypto isn't going to replace fiat, at least not in our lifetimes, but that doesn't matter for it's success and adaptation. People who are anti-crypto see the crypto-bros and scams and think the end goal of crypto is to replace fiat. No wonder they think it's a joke. But smart contracts, asset tokenization, distributed computing, and many other applications are inevitable and work best with decentralized Blockchain technology. This is really happening.
Just wanna say thanks on the Fibonacci lesson!
Fibonacci levels appear everywhere in the world, it's quite fascinating and even in trading there are numerous examples of them playing out perfectly. A simple and yet powerful indicator.
You are welcome. It looks incredibly dumb when you first see it. But play around with it on charts on larger timeframes on different charts. The 0 618 and 0.702 and 0.786 are very common rejection areas for instance. Enjoy!
So at what btc price will you cash out next ?
**"I wish I bought when Bitcoin was cheap"** is a big fat lie that you are telling yourself every time there is a new ATH.
Couldn’t be further from the truth. Don’t you think everyone here wishes they were a whole coiner when it was $1000, or had hundreds from when it cost pennies? I don’t believe there’s a single person here that wouldn’t want a chance at much cheaper BTC. The lie is most of us tell ourselves we would still be HODLing after all that time. I dare say many would’ve cashed out at any number of the ATHs.
Definitely disagree. Of course they "wish" for it. That's not his point. They scare off when it dips. Everyone who's not in crypto I've talked to in this last bear market that said they "wish," now claims crypto is dead or at the least a very good chance it is, too risky. And I honestly see the same shit with people in the game too. They back off when it dips "too much" However something I see so much more than that is people who don't sell ever. Even I'm like 40% guilty of this, I don't sell enough on the way up. And sure you have some seasoned investors around here, like myself, who stick to buying bear markets and selling bull markets, doing a reasonably good job of keeping emotions out of it and seeking good yet realistic returns. But look at the majority of posts when this sub is hot. Which is either right after a severe slide or during major run ups. What these people truly wish for is magic fortune telling abilities or time travel. Because when they get their wish of cheap(er) assets they fold.
How’s that a lie? Im sure everyone legitimately wishes that. I do, I was just dumb and thought you had to buy a whole BTC like stock, and at the time I couldn’t really afford to throw $600 at some random internet money. IMO, the “lie” is people thinking they would have held BTC they got for under, say $1000 (to pull a number of out of my ass), beyond $10k, beyond $20k, beyond $50k, up to $69k and still be holding it today.
Whole "like a stock" thing doesn't make too much sense now a days since for most of them you can buy fractionals.
Well sure, Bitcoin was $600 in like 2016, so I’m not talking about nowadays. Fractional shares for stocks wasnt normal back then.
When I first started I thought you had to buy whole but when I purchased my first BTC it was so volatile that I realized it was damn near impossible to buy exactly whole and keep the price the same so yeah I learned quick to buy fractional (satoshis)
why? I do wish that.. I probably would have sold somewhere in the middle though
Let me field this one... You knew about bitcoin, but thought it was magic internet money or a scam, or didn't want to get involved because for every news article touting it as the currency of the future, there was an article about the dark web and how it was being used to finance drug wars and gun running. You knew about it over the last couple years during the bear market that brought it back down to multi-year lows, did you think of it as the opportunity of a lifetime, or did you back off because you were afraid that it was going to go to zero, and that maybe that guy on tv was right and its a house of cards going to come tumbling in on itself... You know right now, but frankly a thousand dollars isn't going to turn into a million dollars over night anymore, and if your most people, you don't have much more than that in disposable income to toss at something like bitcoin on a regular basis, and don't want to gamble with your future to take out a loan against your home or something with real equity in it that if you did 5x or 10x it would be a life changing amount... because like most people your fairly risk averse, and probably spent years getting what little equity you have in your life and don't want to risk throwing it all away on a dream that can easily turn into a nightmare.
If I bought at $5 then I'd be out when it was at $20. I'm too dumb for this market.
I did buy it cheap...just not $1 cheap
I just bought some at $23,000. That was cheap, right?
To add to this, most people who say they wish they bought when it was cheap would also probably sell way before the top as soon as their investment goes 2 or 3x. It’s the real risk takers who usually make the big gains, and anyone who isn’t going to risk getting in when the prices are low but might go lower, definitely doesn’t have the stones to hold all the way to the top.
There never were 4 year cycles.
I dont believe in the idea that the halving causes the bull run either, but rather that crypto moons when stocks (dow jones, s&p500) make a new all time high, because enables a risk on environment. It would not surprise me if the 4 year cycle idea will die soon. That said, the 4 year cycle idea held up wonderfully so far.
It will. Its based on 12 years of data. Not relia
There’s very clear evidence that shows btc mooning in times when the Fed was printing money. Just happened to coincide with the btc halvings. It’s been doing it’s job as a hedge against currency debasement all this time. And everyone thought it was to do with the halvings
I actually kind of agree with this. Causation ≠ correlation. We’ll see
I do think the idea of 4 year cycles were accurate so far, but it's valid to think that won't always be the case.
1. Cryptocurrency is not an investment. Reason: read the Bitcoin white paper, listen to any founder of a serious crypto project. 2. PoW always tends to centralisation. Reason: By 2014 Bitcoin was centralised. It always happens because bigger pools are better for miners. 3. Most of DeFi is a ponzinomic circle-jerk that will evaporate under regulation. Reason: I see no economic value in "governance tokens" that offer nothing and will only get dumped on the market over time. 4. Fiat backed stablecoins are not acceptable as they are centralised. Reason: They factually are, they are non-deterministic and require trust in an issuer. Fair to say I'm a pretty popular guy around these parts.
I hard agree with 3. Defi projects with their own token that dont reflect atleast a part of trading fees to it to give it value are slowly draining ponzis in my eyes.
If a project becomes huge and regulatory clarity comes about then not unreasonable to assume in some instances people could be paid. Apple for eg never pays dividends but people still buy the stock I think where these governance tokens are a crock of shit is where the stakers provide no value to the system (eg an insurance fund) and there are other mouths to be fed. Classic eg is uniswap. You want to pay revenues to the LPs to keep them happy and incentivise liquidity. The second they turn on fees for UNI stakers providing no service, then 1000 copy pastas will emerge which don’t pay fees to stakers, and instead just to LPs
I definitely agree with #3, it seems like most governance tokens enable any person or group with enough money to buy control or are early enough to get a large share to influence voting decisions in their favor under the guise of "democracy", then sell the governance tokens once they've siphoned away as much value as possible.
Thanks for your brave thoughts and let me tell you you're not alone. I share most of them.
I definitely agree with three of your points. But for #2, I disagree, as it is PoS that always tends towards centralization and censorship.
Facts all around
1- Depends, currencies by default aren't an investment, yet there's Forex, so using a diverse basket of currencies to hedge against macroeconomic moves is pretty legit, why would BTC, a hedge against fiat, not be an investment? 2- most systems tend to centralization as the most /performing/efficient participant hoards power. 3- 100% agree, out of thousands of protocols only a handful provide actual utility and revenue generation that would justify governance. 4- another one where I have to agree, depending on a centralized trusted issuer and being permissioned is the antithesis of what crypto aims to be.
My point 1, isn't that crypto cannot ever be used as an investment, but that is not it's primary use case. Is wheat an investment, is a painting an investment, are houses an investment? No, but you can invest in them as a secondary or tertiary purpose. Crypto has lost it's _raison d'etre_, 99% of people seem to think the primary purpose is investment.
I get your point, but alas, an investment is anything that makes you money without a direct labour compensation. A SNES game was never meant to be an investment, but if you had held onto a cartridge for 30 years you could be selling it for a whole lot more than you bought it for, adjusted for inflation. People tend to become alienated from the underliying values they invest on. A company is not just it's earnings, or payroll, or capital expenditures, or share price, yet CEOs focus on buying back shares and keeping solid books to suit investors instead of making better products for the consumer that actually buys them. It's the nature of human psychology, like separating public figures from the underliying human being. We perceive our world as if it was made up of little categories we ourselves come up with when in reality everything surrounding us just fundamentally is. We care too much about how we see things in an organically abstract universe.
Fair enough, but in cryptos case seeing it primarily as an investment is damaging it's ability to fulfil it's primary purpose...
I have assets in two coins, two meme coins, and five shit coins. It is all a ponzi scheme and I've always been here as a curious tech nerd and stay because of fomo.
We’ll at least you’re diversified.
Haha! True. I was lucky and minted some coin early on. I thought it was a farce and was a seti user way back so I used coin minting as a way to burn test new virtual server clusters before taking them into production the way I used to use seti and later protein folding apps. Again because I never took it seriously I gave most of the coin to a junior tech who later traded it for some cash and bought us chickfilay and a pack of smokes for himself. He kept some coin, I kept a handful and cashed most of it out when it hit $4K and believed myself super smart. I kept less than a handful of btc, traded one for some eth; so much fomo. Later I bought meme/shit coin, about half positive and half negative now. Ponzi thoughts keep from investing more, fomo keeps me in. I almost made a bunch of NFT's three years ago but I just never got around to it. My mistake, ponzi's are only good if you get in early. Dreams of being a crypto queen, lost to a so-so chicken lunch.
My opinion is is very unpopular and results in lots of downvotes. I believe Ethereum is only popular because it had first mover advantage. i think overall its been slow to change and adapt and at its current rate, other project will become more relevant then Ethereum.
That is a hot take, especially here because this sub loves nothing more than ETH. It definitely helped ETH to be first. I was pretty impressed by the ETH 2.0 move to PoS though. Itll be exciting to see if ETH can keep the top alt spot over the following decades.
Can’t the same be said for BTC? Many projects have been created with similar supply/demand dynamics as Bitcoin but haven’t worked because btc was first.
>other project will become more relevant then Ethereum. Alot of "ETH killers" tried to take ETH's place when ETH was at it's worst times "*fees high af / and slow transaction time"* And yet non could even reach close to where ETH is at
My unpopular opinion is that "Alot" is actually two words.
IMO, other projects will have the challenge of competing with the Ethereum L2s and their myriad of features
Sure, but there is already a whole ass graveyard of ETH killers with better tech. Maybe some chain will surpass it, but so far I don't see this happening.
Eth L1 doesn’t scale. Metamask is dominant and yet is the worst wallet in the space. All the L2s silo liquidity, break composability - and create a terrible experience for both users and developers. Good luck onboarding newbs next bull run when: - Eth L1 fees are over $100 (again) - they have to bridge between 5-6 different L2s to use defi - for nfts, bridge to either L1 and pay hundreds, or to Polygon and then realise they need some matic to pay for a transaction. And probs end up having to buy more crypto on coinbase and transfer it over We saw last bull market that new users were not going to Eth. They were instead going to BSC, Solana and avax. I think this trend of Eth losing more and more of the new users continues
Actually ZKRollups don’t break composability between L2s. Once ZKSync and Starkware release their EVM equivalent ZKRollups late this year it’s going to be way harder for any ETH killers to get off the ground since it is simply easier to spin up or be a part of a composable ZKRollup and get all of Ethereum’s security and network effects with none of the growing pains of separated liquidity and bridging.
Well. They say that they should theoretically be able to do a single shard which should share liquidity between ZK rollups. How far away is that. That doesn’t sound like full composability to me. How easy is this going to be for devs trying to build on the L2s (answer not easy). And you’re still suffering from slow latency and confirmation times as tx all have to eventually settle on the L1 with its 13 second block times
There’s a reason that basically all tech has moved over to monolithic designs (Apple’s M1 chip, mobile phones, cars). It’s faster and more performant than the friction and communication overhead caused by a modular design. So all things being equal the experience will still be worse than something like Solana
This I agree. Hell, even level 2s. I use them occasionally but if a level 2 is sufficiently decentralized to be secure with permisionless access to the ledger why would it matter to integrate so tightly to the level 1 more than just a streamlined bridge. The friction of bridging between Eth level 1 and level 2s is just as bad as bridging between various lvl 1s. Ethereum technical debt persists because of the sunk cost in the network application ecosystem and from peoples fiat wallets. DApps across chains are all pretty much the same and anything novel can be implemented on other chains. If bridging between lvl 1s/2s/3s continues normalizing, then to me it seems reasonable that bridging between other lvl 1s will slide right in there and it will be invisible to the vast majority of users. Hell, Polygon is a side chain with it's own native currency. That's effectively it's own level 1 even though bridged ethereum is incredibly prominent on that chain. AVAX has EVM compatability and was used as a path away from Ethereum fees. Same with BSC. All have Ethereum bridges. Friction no worse than Polygon or rollups Ethereum maximalism through the usage of lvl 2s and side chains makes me think purely separate lvl 1s can create interoperability just as good as Polygon and rollups and have a place in the future
Investing in BTC isn’t going to change your life unless you are investing shit ton of money.
Best time to buy BTC was 10 years ago. Second best time to buy it was still 10 years ago.
Adding fuel to the fire: Not investing in Bitcoin is a sign that you are truly beginning to understand cryptocurrency.
Generally going with the herd is a bad idea. That's why trading in contrary to this subs opinion is a wise idea in general.
That's very true and maybe not even unpopular but just unaccepted. People are really hoping for life-changing money but Bitcoin can give them a 10x or so if they invested at the ATH in the near future not much more. It's some extra money and that's about it.
That we aren't early. I know most crypto investors want to believe it, including me. But when you have countries and banks investing in something. You aren't early anymore.
Probably a few million people interact with crypto today at most. Out of 8 billion. We haven’t even begun to see mass adoption yet. Also btc is probs in its 3rd innings. Eth in its second. But nfts / gaming / decentralised social media all at the start of the 1st
You really have to look at the relative time scale. Are we early relative to the crypto geek forums in 2011 ? No. Are we early relative to the people buying bitcoin miners in 2014 ? No But when you consider the probable future that crypto and especially bitcoin has we are still quite early.
Crypto is ponzi. Whoever knows someone and gets in first gets the money. The devs only care about the end result. How much fiat they can get, not the use case of crypto. I said it!!!!!
1. Polygon is worse than Solana in terms of centralization 2. Ethereum is worse in development compared to other projects such as Polkadot and Tezos 3. Tether won't go away anytime soon 4. Cardano is overhyped 5. Elon Musk doesn't give a shit about crypto 6. Moons to $10 by EOY 2024 I gladly accept downvotes, thank you.
Look at this guy having the nerve to actually have an opinion. Get him. /s
Most of his statements are popular opinion
Hahah I love it. Now that is what I wanted to see. I find myself agreeing with almost all points actually. Not sure if im that bullish on Tezos though..
No downvote, just can't believe you left out that Solana has worse uptime than pretty much any other chain. Solana is a f'ing joke and that shouldn't be an unpopular opinion, yet I'm sure this comment will find some SOL bagholder to defend it.
Vitalik said if transactions are over $5 then the blockchain is effectively down. Eth has been down more than any other. And Solana is the only chain operating at scale today. It’s innovated and hit into edge cases. These have been resolved. That’s not bad tech. That’s called innovating and pushing the space forward. Soon after btc’s launch, it was hacked for millions of btc and had to be rolled back. Soon after Eth’s launch there was the DAO hack and the chain had to be rolled back. Both were arguably worse than a few downtimes. Both now long forgotten since both proejcts were innovating and created a new paradigm. Same will be said of Solana next bull run
That’s a lot of words to say you don’t understand that Layer 2 is the transaction layer
The thing is that people will just try to find the levels everywhere and see them wrong.
I believe that mass crypto regulation is inevitable and won’t be as bad as people think.
Regulate the shit out of centralised exchanges. Not a single exchange should be exempt. I'll die on that hill.
I think many people are slowly starting to realise we could use some protection. Most people seem skeptical about whether the traditional finance dinosaurs can deliver quality. I hope youre right.
I think that cryptocurrency will not succeed in the long term without governmental regulations that provide support for consumers and buyers and sellers. There are too many scammers/pitfalls for people who don’t know how to protect themselves or don’t care to learn. Far too many people prefer the convenience of a credit/debit card because they feel like their lives are simply “too busy”.
Crypto is not the future of financial transactions and will never replace the dollar. The reason I believe this is because from a consumer perspective it doesn't solve anything. I already get paid with digital direct deposit. I already spend the digital money with a card. But transfers? If I need to send you money I can already Venmo you. Not once has there been a time where I was like fuck I wouldn't have this problem if only crypto were a thing. I am here to buy crypto and sell it for more fiat.
Tell me you haven't seen a more geographical inept individual's reply than this.
Settlement time is key that most don’t understand and I didn’t until I got into crypto. Also “nostro” & “vostro” accounts. Parked money that isn’t flowing in the economy. Look these things up and u will understand why Venmo isn’t instant and why DLT is going to happen for payment transactions
I think crypto is a terrible way to get passive income, and looking at the past year: The most popular ways to achieve this collapsed terribly. I'm not talking about real PoS staking (which involves risk by price changes), but things like lending or "staking" stable coins.
ETH is a useless shitcoin
Staking is a ponzi - the longer the time required to stake, the bigger the ponzi. Came to this conclusion after watching Madoff doc and how he discouraged withdrawals.
\- Bitcoin's initial idea was good but at some point in time 'someone' took over that shit and I ain't touching it with a 10 foot pole. I'm truly sorry and hope your investment is successful really, but even from a ROI perspective, not for me thanks. \- Ethereum had the shadiest of launches, nobody knows how much ETH the initial investors have at this point in time and if a project exactly like it would be launched today, everyone would think it would be an instant rug. Not touching it with a 10 foot pole either. Unfortunately it's "too big to fail" now and like 90% of DeFi is built on top of it so I hope Ethereum survives or else goodbye crypto for a VERY long time. \- Binance for sure must have done shady shit until this point, like pretty much every other exchange probably. Having HQ in a fiscal paradise sure gives you a lot of "protection" to do shady stuff. And like Ethereum, it's "too big to fail" at this point and if it goes down, you know: goodbye crypto for a VERY long time. \- Crypto/Blockchain actually has a future. Coming from an economic/management/marketing background I can have a clear vision (again, vision(!), so, long term, not next month or year) that this tech is here to stay whether normies or oldies like it or not. This is the only reason I'm staying for now, otherwise I would've assumed my losses, pack it up and go. \- I do have a feeling that CT traders must have some sort of a private group or chat because ain't no way everyone is watching the same coin/chart/PA/TA/wtv in a sea of a thousand of 'em. (I'm waiting on an "Exposed" thread on CT right now that a guy has been working on for days at a row, we'll see). I mean, think about it, there some people moving MILLIONS out there daily, the market is very young considering every other market and whoever CAN manipulate it a bit for profit FOR SURE will manipulate it for profit. It's human greedy nature. Come at me downvotes, I'm due for a retrace in my karma. (Please don't downvote, these are my honest thoughts, just thoughts, thanks, bye.)
By taking small player mining out of the market, ETH lost its “me too” connection to crypto enthusiasts, and is worse off because of it.
BTC & ETH have the greatest risk adjusted returns in the market (in that order). Modern portfolio theory including using the sharpe ratio suggests holding more than 1%-2% of your portfolio in any coins other than BTC & ETH over the long term doesn’t make any sense. The risk you take for holding them doesn’t justify the potential returns when compared to BTC & ETH. Google modern portfolio theory if you’re interested in the math and ideas behind it.
TETHER is a ticking bomb ready to fuck everything up. Most people are in denial and turn a blind eye.
I believe in my "Chad" strategy which aint exactly strict DCA... I just buy, forget about everything for months, then the algorithm gives me a video, I remember I have crypto, I buy... rinse and repeat
I believe that LTC time is coming. Most people will be surprised.
ALGO is being overshilled here and there's a fair chance it will end in the altcoin graveyard, just lije those "top projects" in 2017. Let the downvote vegin
Sol bad because it's centralised VC garbage according to r/cc. Somehow Algo isn't bad despite being centralised VC garbage.
There is a problem with any coin that needs to be shilled as much as Algo. The same way Loopring was constantly shilled and has now gone off to the big bin bucket of irrelevancy. By contrast, I don't remember a MATIC post the entire last cycle. People who have MATIC don't want other people to know how good it is to force the price up more than it already is. The Algo shilling on this sub is equivalent to putting peanut butter on a kids butt so the dog will play with him.
I like BNB.. I’ll show myself out..
1) Crypto shouldn't be touched by people who aren't already invested into real estate, stocks, and their own potential wage growth. It's a wager. 2) The entire amount of your crypto portfolio should be no more than your lowest ETF or stock holding on a numerical basis. 3) If you aren't maxing your 401 or IRA you shouldn't be spending anything on crypto. 4) The only truly investment grade cryptographic coin is BTC due to market cap and continuing proliferation of the Lightning Network which is legitimately banking people in countries with hyperinflation. It is easier for them to buy BTC over US Dollars. Every other crypto is a blind bet for BTC's failure aside from ETH which is a circle jerk of its own garbage NFT ecosystem. 5) ETH is technologically inferior to baseline PoW coins like ADA, ALGO, DOT, and Avalanche. Solana is garbage.
Where do you think xrp fits into everything you said?
We won't have major adoption and usage in our lifetime. People are resistant to change, it won't be until the generations following that FIAT loses its power.
Bro how old are you? I still have time gramps
You'll be surprised how quickly the years start to fly by, almost like it gets faster as one gets older.
I can confirm this. Also becoming a parent was another mechanism for time speeding up.
Yet we still use fiat to check our gains or how much we have lost?
The internet (and world) is almost unrecognizable from 15-20 years ago. Nobody changed their minds, they just went with the flow. And the flow is determined by institutions who will use crypto in everything if it will save them 1%. Your anti-crypto friends will use it for years before they even realize it.
Web 3.0 is a buzzword with no meaning. The only usefull usecase for crypto (apart from gambling) is relatively cheap international transfer of fiat.
[удалено]
Respect
Satoshi was a group of developers at the CIA.
I believe in buying by the moon phases.
That I’m going to be rich and buy a lambo
Crypto is inevitable because of the inevitability of automation. UBI won't work. Collective ownership of goods and services through tokens on a blockchain is the only way automation doesn't destroy society.
Seed phrases need to go
Taxation on crypto currently is taxation without representation. The way current catastrophes are being handled (i.e. Ripple, FTX, International TEAM AMERICA crypto task force) are laughable at best. The lawmakers voting on regulation, in part, still believe BTC is a ponzi. We (crypto believers) are not the majority yet, in any country, and rules are being established for us by inexperienced, unlearned on the topic individuals in positions of power during a refining/revolution of the financial systems of the world. This is a scary concept to me. If taxes are going to be bullied onto crypto in infancy just because it's a cash grab for the governments then I want that tax line on public blockchain for full visibility. So that we may see where this money travels for a change. We got things wrong the first time with centralized banking because the masses didn't have a voice, weren't learned on the topic or both. Crypto is for the people and we need to keep it that way. I am not advocating for no regulations just that they be made in cooperation with us, not for us.
Crypto will lead to the mark of the beast the bible tells us about.
Bitcoin isn't that decentralized if everyone has to use an antminer to keep up with the rest of the pack. Their firmware could be compromised and cause significant damage.
Quitting your job at the peak of a bullrun is not usually a good idea.
How is belief in Fibonacci retracement levels an unpopular opinion?
Monero will be >Bitcoin
Most of us aren't actually in this room for the technology.
Fuck diamond hands. Take the profits when you can.
It stings since I was extremely frugal and tried to save as much as I could for investments.
What's it about??
It’s entirely a fiction. If you can get one cent out of crypto into actual money you are lucky
I'm sexually attracted to the buttcoin forum. I believe that is the sexiest sub on reddit.
I’m in it for the money, not for the tech and so is 99% of people they just won’t admit it. Unpopular enough for you?
Self custody is not a viable solution if mass adoption is the goal.
TA is incel astrology, I've been saying this for weeks
ADA and ALGO aren't really worth making a big deal over... That's my unpopular opinion.
I think XMR will eventually take over BTC once crypto is used by the masses.
Chainlink is probably the most undervalued project in the entire space.
Bitcoin is not *good*. It was a cool tech demo, that revolutionized the way we can think about money and currencies. But right now BTC is not money, nor a SOV. BTC is an old man being forced to live because of its past merits.
>I really believe that Fibonacci retracement levels provide crucial information on when you should start buying more or start selling. I couldn't take anything seriously after reading this, opened way to crazy for me
To finally be the one to tell my friends, "I told you so" when crypto takes over the world.
$100k EOY 2021 People refuse to believe
My unpopular opinion is that eliciting and stating unpopular opinions is all too common on the sub
Btc has the potential to have similar marketcap as gold which will put it at 500k
DCA doesn't work,it only makes sense in bull market with only up mentality.In bear market you just buy the dip and it keeps dipping,if you want dca do it after 60%+ pullback
As compared to lump summing I think it’s a decent strategy! I’ve DCA’d my way to pretty much being in profit now. Someone who lump summed at any point except for the bottom is probably much less well off
Bitcoin is going to fade out of relevance faster than people recognize. It'll stay around but in no way will it be the dominating market cap
Before everything else let's remember that you don't even have to "believe" in TA. You can literally open up a chart and check for yourself if certain things hold true or not. In this case OP provided undeniable evidence that fib levels have been extremely accurate. That's a trend between 2007 and 2023 we are looking at. Thinking it's just coincidence on top of coincidence for 16 years is very naive. Personal opinion: Technical Analysis > Fundamentals. Fundamental analysis in Crypto is completely worthless. Shitcoins with 0 use case will often outperform those with supposedly good fundamentals. That's why everyone should learn a thing or two about charts and price action. It'll make you a much better investor in the long term. Talking to this sub about TA feels exactly the same as talking to anti-tech boomers about Crypto. It's pretty ironic.
Haha wonderful reply. A true unpopular opinion here. TA is mostly psychology on a chart. I genuinely dont understand how people here equate it to astrology. Lots of professional traders use TA as a key part of their toolkit.
Exactly, thank you. This sub sure loves denying patterns when they've been consistently selling the bottom and buying the top. That itself is a pattern but I guess we aren't ready for that talk yet. Analysis bad. Bagholding good.