there is not really anything to discuss for me i just hold BTC and ETH. number go up number go down, its basically like my 401k at this point i dont bother to look at it or worry/think about it daily. Maybe check once in the morning when I wake up
edit - now i realize the irony in this though since im the OP of this thread. LOL
Thatās fair - and my strategy this year for BTC/ETC just been pump $$$ in when I have it and buy/hold.
But feel like I should be gambling my face off in DeFi, SushiSwap, pancakehouse-coin or whatever else things I can click buttons to send money to.
Nah, the rest of the internet is dumb and also most crypto people have bad or wildly naive politics. Only a slight exaggeration. Like, theyāre operating from a capitalistic framework so they think āprice go up=good; price go down=badā and they canāt grasp that one can think BTC is a wonderfully clever and useful invention but also wildly overpriced and not meant to overthrow government FIAT, along with the energy consumption being a big problem, and thatās just the tip of the iceberg.
But in general, r/cryptocurrency is decent just because thereās high volume, and twitter is actually great for trading, in terms of seeing what buzz is floating around. I canāt stress this post I made earlier enough:
But thatās in terms of short-term trading, months/weeks and less.
The two people I watch regularly I do think are sharp and knowledgable but, full disclosure, I mainly watch them because theyāre hilarious and entertaining. And ymmv because a lot of the humor comes from, at this point, years-old inside jokes.
I mean, for the first guy below, the thumbnails have gotten more ridiculous but it still might not be obvious that theyāre parodies of the Essential Youtube Thumbnail:
Just looking at that makes me laugh. And then when watching you might wonder why he keeps saying āLetās get this cryptoā and who āLittle Jimmy and The Moon Boysā are. Iām not even actually recommending him because at this point the humor is so opaque. Heās basically a swing trader who does macro-technical analysis and says heās āthe most (only) realistic technical analysis channelā because as a default heās extremely bearish and his TA philosophy is based on all the price action being a Keynesian beauty contest and greater-fool-game, two things hardcore crypto dudes are generally uncomfortable with. He says āthe HODLers and degenerates continue to live a life of peril and squalorā lol. Heās also extremely cocky because up to this point heās been correct about every price movement, though that cockiness is also played up for humor.
But like I said I just think heās entertaining, like when he hummed (surprisingly very much on pitch and in tune) the entirely of āMy Heart Will Go Onā during one of the big market crashes and showed Titanic memes.
The second guy is way less opaque and more accessible and just talks generally about all things crypto:
Yeah, Iāll say it again, I didnāt tell everybody about BIG MONEY FABULOUS PRIZES because it seemed uncouth in this polite society forum, but now I feel bad after seeing how people took to the NFT NBA stuff. I shouldāve pressed the issue.
Hereās those screenshots of some of my holdings from earlier in the thread, Feb 3:
Hereās today:
Note BTC went up 60% in that timeframe so thatās a multiplier of the prices-as-a-ratio-of-BTC that the others are shown in.
And if somebody wouldāve said to pick just one, I wouldāve been like, āCOTI, shove all in on COTI. Or buy $10 worth, itās all good. I donāt know if weāre going to the moon but weāre putting the thermosphere behind us.ā
And then somebody wouldāve been like, āOk, what is COTI?ā
And I wouldāve been like, āDog, youāre gonna pay 2 figures for a basketball GIF and sell it for 4 figures, do you really even care?ā
I went to stake some of my LINK on Bancor, a DeFi platform, and was shocked to discover the gas price for the transaction was north of $100 in ETH, which Iād have to pay a 2nd time when withdrawing.
ETHās 2nd layer is supposed to eventually reduce the gas charges significantly, but itās ironic that this crypto tech is supposed to be disrupting the banking industry on one hand while the fees are even higher than legacy bank fees.
I guess itās still early though.
Thatās why so many projects are trying to be The Ethereum Killer.
If it ends up being Cardano, Iāll be a rich man.
More than 65% of BTC mining is in China and the US is second with less than 10 percent. Iceland is not mentioned. With mining being an almost 20 billion dollar revenue a year industry even a farm responsible for 1% would be massive and is likely to have a 8 figure electricity bill.
Well, thatās a big oof
Iāve been staking Cardano, itās my 3rd biggest holding, but I just moved it to Coinbase ahead of the listing in a few hours. If itās anything like the previous listings, itāll move up more before the inevitable decline. Iām trying to pick a price point to sell at ($2?), and Iāll probably buy back in later as I have it as a longterm hold. This feels too juicy a situation to pass up on, though.
I also frequent r/cryptocurrency, if anything itās quite hilarious, and they have successfully shilled me some well performing shitcoins in favour of the ever stable XLMā¦ My LTO/ENJ/VET/ONE holdings have been going through the roof.
I made more than 100%!
ROOKIE NUMBERS
Yeah you may very well be right, I figured itās worth taking a shot in the ADA/EUR market and no harm done if it doesnāt happen. Iām basically clueless and should not even be trying to trade, sometimes the temptation is too much. The other day I saw a big green candle on a coin I own, so I figured to try to capitalize on that. I succeeded, as in I sold at 1.20 and bought back in at 1.09, but after all that I broke even because exchanges screw you over in any possible way. Lesson learned.
Bubblishious
Like most here, I just HODL BTC/ETH for the main part. I mess around a bit on the side with alts, but itās painful primarily because I realize there must be so much $ to be made if you do some research and develop some skills, but between my job and family I simply donāt have the time. And itās fine, I had my poker journey and enjoy my academia job, but oh boy, isnāt it tempting to loose myself in crypto.
Wait, what happened? That sounds like a massively successful trade.
Yeah, if itās a long term hold then no harm, and if it does pump to $2 thatās a good target; guaranteed reentry for cheaper after the coinbase effect wears off.
What is the quick summary of pros/cons on Cardano? The discussion itt matches up with a friend texting me this morning that heās high on it.
