Originally posted by Scaletta
Hey, sorry for the late reply. For purchasing BTC I suggest Kraken (should be available in Canada)
Hey, no problem. Thanks for that, I'll check it out.
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I have no wallet -- there is such a bewildering array of different options, it is very difficult for a newbie to evaluate them.
Perhaps one (or more) of the crypto ninjas could offer some suggestions as to the best way to proceed.
Originally posted by SDK1987
Any exciting news about cryptocurrency the last couple of months?
2020 has been pretty eventful for the crypto markets so far IMHO. First and foremost the whole concept of different bailouts, stimulus packages and cheap loans that came into play again in the wake of COVID was kind of why Bitcoin was born in the first place (you cannot inflate the supply of BTC) as Satoshi famously quoted a Times article about bank bailouts in the genesis block. Secondly, large companies (MicroStrategy, Square, Stone Ridge Holdings) have publicly started purchasing Bitcoin as a hedge against inflation and the USD. Third, decentralized finance (DeFi) applications (these include decentralized, crypto-backed borrowing and lending, decentralized crypto exchanges) are being built, developed and adapted very quickly. Add in the news of PayPal finally starting to accept cryptocurrencies as well and we might just see mainstream interest and adoption take off again.
Some technical improvements are also being worked on, such as the Taproot/Schnorr upgrade for Bitcoin which improves scaling and privacy a bit; Tor V3 support for Bitcoin Core (also helps with privacy). the MimbleWimble upgrade for Litecoin (improves privacy and fungibility), the Ethereum 2.0 upgrade and security, scaling and speed improvements to the Monero network, to name just a few big ones.
Originally posted by VorpalF2F
I have no wallet -- there is such a bewildering array of different options, it is very difficult for a newbie to evaluate them.Perhaps one (or more) of the crypto ninjas could offer some suggestions as to the best way to proceed.
Depends on what kind of wallet you are searching for? Mobile, desktop or hardware? For best security, hardware wallets such as Ledger are the optimal choice.
I'll look into the hardware wallet -- but $89.00 to protect a few dollars doesn't make a lot of sense...
If I proceed, I would need a use for bitcoin other than playing poker...
Hi there. I didn't know this thread existed. I'm a fellow shitcoin investor myself. I held XRP and ETH via hell and high water. They are finally in slight green. My Litecoin is still red. My Bitcoin has done very well. I started DCA back in the 2018 dip. Not saying I own a whole Bitcoin but it was DCA-ed at 7,800 usd per/Bitcoin.
Can you guys believe that "Aussie Matt" owns 60,000 BTCs? The guy is a maniac on the table and he is a billionaire!! Who knew?
Originally posted by VorpalF2F
I'll look into the hardware wallet -- but $89.00 to protect a few dollars doesn't make a lot of sense...
If I proceed, I would need a use for bitcoin other than playing poker...
I own a "Ledger Nano S" myself. I bought it like a year ago. I haven't even opened the box yet. I will let you know if I ever use it.
Okay, may be I shouldn't say crap about ETH. I can see that it is doing very well now but XRP and LTC, oh boy, those two made me wanna punch holes in my monitors(yes I have two) every time some maniac sucked out on me at the tables.
What do you guys think about Tesla? I bought one stock back in March 2020 and it went up like crazy. Dang, why didn't I buy more?
Sorry, I got off track. So, I have been a crypto investor for two years now and I have been looking at tradingview.com charts like everyone else. It's an obsession really. I predict that the BTC will reach its new all time high within one week. If not today.
Originally posted by Dr1fter808
Sorry, I got off track. So, I have been a crypto investor for two years now and I have been looking at tradingview.com charts like everyone else. It's an obsession really. I predict that the BTC will reach its new all time high within one week. If not today.
best thing to destroy the structure of your day is to leave this open.
If you are no trader, look at it once per day and that's about enough.
Ask yourself: is there anything in a realistic scenario (+-10% on a day) that will make you change something? If the answer is no, don't look more than once.
Originally posted by SvenBe
Originally posted by Dr1fter808
Sorry, I got off track. So, I have been a crypto investor for two years now and I have been looking at tradingview.com charts like everyone else. It's an obsession really. I predict that the BTC will reach its new all time high within one week. If not today.best thing to destroy the structure of your day is to leave this open.
If you are no trader, look at it once per day and that's about enough.
Ask yourself: is there anything in a realistic scenario (+-10% on a day) that will make you change something? If the answer is no, don't look more than once.
Hey, thanks, you are right. I'm a hodler like my father before me.
Near it's all-time high is not the time to be getting in to it I think.
Can you post a link to an authoritative value quote?
I use https://www.xe.com/currencycharts/?from=XBT&to=USD
But I've no idea whether it is considered accurate or not.
If you look at the chart in that link, and drag the slider back to early March, you'll see it took a very sharp dip then slowly started to climb with a sharp rise from October on.
Now click the "10Y" button on the right-hand side
Those sudden sharp rises must be driven by something -- but what?
Originally posted by VorpalF2F
Near it's all-time high is not the time to be getting in to it I think.
Can you post a link to an authoritative value quote?
I use https://www.xe.com/currencycharts/?from=XBT&to=USD
But I've no idea whether it is considered accurate or not.
I did call it. Yay.
Originally posted by VorpalF2F
Near it's all-time high is not the time to be getting in to it I think.
It will probably correct a little bit, but Bitcoin is poised to have large gains 2021-2022, this is just the beginning of the bull cycle. Smart money is flowing in, but retail FOMO hasn't kicked in yet at all.
Originally posted by VorpalF2F
Can you post a link to an authoritative value quote?
I use https://www.xe.com/currencycharts/?from=XBT&to=USD
But I've no idea whether it is considered accurate or not.
https://www.coingecko.com/en/coins/bitcoin
Coingecko is a rather accurate price aggregator.
Originally posted by VorpalF2F
If you look at the chart in that link, and drag the slider back to early March, you'll see it took a very sharp dip then slowly started to climb with a sharp rise from October on.Now click the "10Y" button on the right-hand side
Those sudden sharp rises must be driven by something -- but what?
The shock in March was kind of a Black Swan event for BTC, from which it recovered rather swiftly.
And those sharp rises and sharp falls in BTC price represent the 4 year cycles that Bitcoin so far has been keeping going through. Basically boom-bust cycles that go hand-in-hand with the Bitcoin "halvings" (50% reducing of issued Bitcoin) every 4 years. Every next boom takes Bitcoin multiples higher in value than the previous ATH, with every ATH followed by up to a 80% correction (but price still staying above the previous ATH) and a 2-3 year accumulation period. Once BTC makes a monthly close above 20k I would say the accumulation period is officially over and we get a 1-2 year full bull run.
If you wanna get ETH, I guess it's a good idea to own at least 32 units because then you can stake it. I see this option now. However, it doesn't pay much(right now) and you have to leave it for 3 month.
Anyone has opinions on this staking thing?