The Crypto Thread

I am the proud owner of 101 doge. Do I hold until we reach the moon?

ETA: just checked and see that I sold 819 doge at the end of January because my crypto friend told me it would never break 7 cents. I could have been a dozenaire.

Imagine a world where someone bought $10,000 of doge when it was at .04 :eyes:

Still literally a prank coin

we’re at 40 cents and under a penny in January

sell all doge for ltc

this is not a drill

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btw, the metrics I’m using show the total crypto market cap can pretty comfortably absorb another few trillion dollars while still adhering to historical trends and growth patterns

not even close to a top yet imo if you’re talking about the asset class as a whole. short term pullback still always a risk. good time to take some profit on coins that have already moved parabolically I think.

What’s going on with ltc?

Doge should be worth more than LTC and I hate doge unless there’s something new I don’t know about

in before doge is the global reserve currency now, idiocracy missed that one.

Just broke .005 on the LTC/BTC ratio which is a historically and technically significant level. TA purists would want to wait for confirmation but it seems a lock to head to new ATH now and price discovery to me. There’s also a major upgrade to the code (mimblewimble) nearly completed which adds some fungibility and privacy features.

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strong disagree on that one but we’ll see.

never bought doge though, so what do I know :upside_down_face:

LTC is more of a joke to me than DOGE but none of stuff like what does this shit actually do matters whatsoever to the price of it.

I’d argue that in the short term you are (mostly) correct, but on longer timeframes fundamentals eventually win out.

bitcoin has done absolutely nothing since I first bought some at under 200. Still used to buy the same illegal/gray area shit and it can’t handle a big user base still if they used it at once, also slow as hell. it’s got some use cases, but it’s rare to actually use it.

In the very long term this is all worthless as technology will eventually break it.

if it’s not banned

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With that said my plan when I started buying in 2019 was to mostly sell this year and I still plan on sticking to that. I think crypto has value but of course these bubbles aren’t rational and prices get overheated. Knew that going in and nothing that has happened so far in this market has really surprised me…maybe the extent of this DOGE pump… but that’s mostly my fault for trusting people living in crypto bubbles instead of my own instincts. One lesson learned this cycle.

right, but trusting your own instincts means thinking elon wouldn’t stop tweeting about it and media keep reporting about it instead of just ignoring all of it. It’s also not easy to buy, if coinbase had it it’d have definitely hit a dollar.

It’s not that simple. I was right about dumping all that non btc for btc back when I did it–until this week and now I look silly. this crypto world man

True that “trust your instincts” is a little trite and simplistic and absolutely horrible advice for most people in crypto.

I’m surprised you continue to hold if you really think it’s worthless. I’m also still surprised how a forum of leftists mostly fail to see the value in a decentralized currency.

“Leftists often see blockchain as a libertarian toy that’s only good for buying drugs, which I think is wrong,” says Matthew McKeever, executive associate editor of the academic journal Inquiry and a research assistant at the University of Hong Kong. McKeever doesn’t consider himself a socialist, but he has written about the relation between socialism and blockchain. “The technology has elements that deserve attention from the left,” he says.

https://www.ozy.com/the-new-and-the-next/who-really-loves-blockchain-socialists/397843/

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very long term I think it all gets broken by future technology. We’re not close to that yet.

It’s not that useful is the biggest problem it has. It doesn’t do anything better other than avoid some regulations, it’s not even cheaper to do it either.

I guess it sounds better than a shiny rock and easier to move/offload if you’re moving to another nation (ie you don’t wanna pass through a nations customs carrying gold on you) but there’s so much it does worse than the problem that hasn’t been helped all that much since the beginning. Some people compared it to the internet but the internet had better speed improvements in comparsion than this has by that point.

simply stated, nobody’s solved the problem of too many people needing to use the same giant database all at the same time and I don’t see how that constraint is gonna be solved.

I agree that scaling is still an issue but I think the layer 2 solutions still show promise. They’ve been hyped for so long I don’t blame anyone for starting to think they sound like vaporware though. If BTC reaches its full potential the way you use it in even five to ten years will look absolutely nothing like the way it’s used now imo.

In the meantime just use LTC if you want to make transactions with crypto–all the benefits at a fraction of the wait and cost :sunglasses:

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Could also argue it’s the most decentralized of all the cryptocurrencies… doesn’t even have the “satoshi” problem of a mysterious person or group potentially holding on to deep bags. It’s moved up organically so far with zero hype or promotion… but I think that sort of thing is coming. My near term targets remain at 1000+ and I think LTC is one of the most likely current altcoins to still be popular ten years from now.

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What are your price targets for ETH and BTC this cycle? I’m gonna start getting antsy around 5k/100k if not sooner.