What Cryptos are gonna explode?

[Dazinoz]

10 minutes ago, AlQaholic said:

Eventually the whole cryptocurrency thing will collapse. It will come to a point were the power consumption for farming the various cryptocurrencies will become so enormous, it will start to have an effect on the normal economy and then, who knows what will happen.

Crypto farming is when you lend out your crypto to earn interest and I would doubt uses much more power than the overage bank. The initial creating of a crypto is referred to as mining and some such as the king, BTC does use heaps of energy and is a concern. Others use different methods and use a fraction of energy.

[monty1412]

16 minutes ago, Neeranam said:

I can only assume you live under a rock or bridge. 

I was assuming he worked for the SEC

[Neeranam]

8 minutes ago, monty1412 said:

I was assuming he worked for the SEC

Just bitter because he missed the boat. 

I remember when BTC was 30k, he said the same thing. 

[Neeranam]

On 8/28/2021 at 5:11 PM, ArcticFox said:

What Cryptos are gonna explode?

The one's you can't buy because you don't have an account in either Thailand or your home country due to the KYC requirement even though you have a ton of ID.  Those will be the one's that explode.

I joined Bitkub, coins.th, binance, kraken, crypto dot com, elrond, huobi, bitcoin dot com, Uniswap, pancake swap, and about 5 others, all from Thailand. 

[Pravda]

I had some cardano and sold it a dollar ago. It seems like all coins move up and down in tandem, so currently I'm "invested" in stellar. All this crypto is bull, but when stellar jumps a bit as it always does I'll be converting it to internet computer (icp).

 

I still think crypto is major bs, but literally the whole world and money supply is gambling on it and I truly believe it will only go up as long it's allowed to do. I would love to fund around $200,000 into an exchange, but I'm seriously worried about hacking and unforseen regulations. Not too worried about crypto.

Edited August 29, 2021 by Pravda

[gk10012001]

I suggest you consider the possibility of some Imploding.  Regulation and disclosure in the USA could be a big issue.  Around the world and in different countries, crypto has different levels of acceptance.  The less than open nature of some crypto and criminal elements is long from a settled issue.  It might not take much for some large scandal or theft to trigger some negative valuations

[ed strong]

1 hour ago, Tanomazu said:

I think you'll find Bitcoin is not the only coin with limited supply:

 

https://www.statista.com/statistics/802775/worldwide-cryptocurrency-maximum-supply/

Cant see any details there, however no doubt there are currencies with low supply but that means nothing with little or no network effect, the Frei coin was a coin that had the idea of demurrage built in, circa 2012 not seen or heard of it since.

 

Its hard to look past bitcoin simply because of the huge network that backs it, any other coin offering advantages will just be added to bitcoin therefore mitigating it usage. More or less every coin has a ceo or someone in charge, ethereum has vitalik, ada has hodgkinson (Lol)  hex has richard heart (lol).

 

Ethereum also had a 70% premine and unlimited supply, which brings the whole 'value' into question.

 

Im not against any other coins however the majority are scams even though the team has 'good' intention, reminds of me not for profit charities and payrolls of their ceos, some do good but the majority are scams lining the pockets of the crreators whilst actually doing very little for the actual users or people in need.

[ed strong]

oh

Edited August 29, 2021 by ed strong
extra post

[mjnaus]

5 minutes ago, gk10012001 said:

I suggest you consider the possibility of some Imploding.  Regulation and disclosure in the USA could be a big issue.  Around the world and in different countries, crypto has different levels of acceptance.  The less than open nature of some crypto and criminal elements is long from a settled issue.  It might not take much for some large scandal or theft to trigger some negative valuations

Yawn..... this is the same rhetoric that has been making the rounds since Bitcoin first arrived on the scene. Yet, here we are. I guess there will still be people making similar statements ten years from now.

 

Not arguing that regulating isn't a hurdle the industry needs to overcome, however the doom and gloom rhetoric does not sit well with me. I like to think regulation is a good thing, or at least it has the potential to be. First off, regulators taking notice and working on regulatory frameworks validates the industry as a whole; it's like saying "Ok, we admit this crypto thing is here to stay, let's figure out how we can build regulation around it". For crypto to make it to the next level, it needs regulation, period. Another upside I see is that it will increase the adoption rate. Some institutions are already buying, however I'd argue that the majority is still waiting on the sidelines and regulation could be the little push in the back they need. 

 

"The less then open nature of crypto..." really? A fully open and transparant ledger? Literally every transaction can tracked back till the beginning of time! This is a regulators wet dream come true for crying out loud. Combine this with KYC and AML on the exchange side of things and hiding anything on the major blockhains becomes nearly impossible. 

[mjnaus]

3 minutes ago, ed strong said:

Ethereum also had a 70% premine and unlimited supply, which brings the whole 'value' into question.

 

With the implementation of IEP1559, Ethereum has drastically decreased issuance. Better yet, once "The Merge" happens early next and Ethereum switches to PoS, issuance will be negative. ETH will become a deflationary asset. 

 

Have a look at this site: https://ultrasound.money/ and flip the "simulate merge" switch in the SUPPLY GROWTH meter on the dashboard to see what this will look like.

Disclaimer: I am part of the team working on the ultrasound.money site. 

[gk10012001]

1 minute ago, mjnaus said:

Yawn..... this is the same rhetoric that has been making the rounds since Bitcoin first arrived on the scene. Yet, here we are. I guess there will still be people making similar statements ten years from now.

 

Not arguing that regulating isn't a hurdle the industry needs to overcome, however the doom and gloom rhetoric does not sit well with me. I like to think regulation is a good thing, or at least it has the potential to be. First off, regulators taking notice and working on regulatory frameworks validates the industry as a whole; it's like saying "Ok, we admit this crypto thing is here to stay, let's figure out how we can build regulation around it". For crypto to make it to the next level, it needs regulation, period. Another upside I see is that it will increase the adoption rate. Some institutions are already buying, however I'd argue that the majority is still waiting on the sidelines and regulation could be the little push in the back they need. 

 

"The less then open nature of crypto..." really? A fully open and transparant ledger? Literally every transaction can tracked back till the beginning of time! This is a regulators wet dream come true for crying out loud. Combine this with KYC and AML on the exchange side of things and hiding anything on the major blockhains becomes nearly impossible. 

I agree with you.  your comments also ring the same:   Yawn..... this is the same rhetoric that has been making the rounds since Bitcoin first arrived on the scene. Yet, here we are. I guess there will still be people making similar statements ten years from now.

 

You are drinking the Kook aid.  Millions of crypto have been stolen, lost, etc.  and those are just the big cases that make the news.  To even try to assert that everything is above the board, that the software is verified and validated, that all transactions are secure and inviolate is ridiculous.  Few people really understand block chains.  Ethereum just announced a known bug was exploited if one used an older version of its sw.  Invest as you want.  I can imagine a few Etfs might be worth taking a shot at.  But it is a pure gamble.  There is no real basis to judge the soundness of the investment as one might when buying a stock, such as Does the company make money, is there a financial moat, is expansion or growth likely, and dozens of other possible criteria.  Hoping to buy low and sell high...good luck

[gk10012001]

11 minutes ago, ed strong said:

Cant see any details there, however no doubt there are currencies with low supply but that means nothing with little or no network effect, the Frei coin was a coin that had the idea of demurrage built in, circa 2012 not seen or heard of it since.

 

Its hard to look past bitcoin simply because of the huge network that backs it, any other coin offering advantages will just be added to bitcoin therefore mitigating it usage. More or less every coin has a ceo or someone in charge, ethereum has vitalik, ada has hodgkinson (Lol)  hex has richard heart (lol).

 

Ethereum also had a 70% premine and unlimited supply, which brings the whole 'value' into question.

 

Im not against any other coins however the majority are scams even though the team has 'good' intention, reminds of me not for profit charities and payrolls of their ceos, some do good but the majority are scams lining the pockets of the crreators whilst actually doing very little for the actual users or people in need.

It is always wise to advise caution and do a lot of diligence.  So many people have no idea what the are investing in, they just think that crypto is new and cool and saw the big increases it had (while ignoring the big decreases it had and how a lot of people got whacked when they bought and sold at the wrong time).  Get rich quick can be a big temptation

[ed strong]

3 minutes ago, mjnaus said:

With the implementation of IEP1559, Ethereum has drastically decreased issuance. Better yet, once "The Merge" happens early next and Ethereum switches to PoS, issuance will be negative. ETH will become a deflationary asset. 

 

Have a look at this site: https://ultrasound.money/ and flip the "simulate merge" switch in the SUPPLY GROWTH meter on the dashboard to see what this will look like.

Disclaimer: I am part of the team working on the ultrasound.money site. 

At least it sounds like they are pushing in the right direction, however i still remember the infamous tweet by Vitalik.....''Guys can you stop trading''

 

Anyone that can do this and would instruct it has to be slightly worried that a similar scenerio could occur in the future and then where does it leave it? Just seem to flaky to be taking 100% seriously imo.

 

 

[gk10012001]

https://finance.yahoo.com/news/bitcoin-no-value-people-banks-195931100.html

 

Interesting article.  Invest as you want.

 

Bitcoin Has No Value: People Bank's Of China Official Announces Further Crackdown

[mjnaus]

2 minutes ago, gk10012001 said:

I agree with you.  your comments also ring the same:   Yawn..... this is the same rhetoric that has been making the rounds since Bitcoin first arrived on the scene. Yet, here we are. I guess there will still be people making similar statements ten years from now.

Lol, sure. One big difference though: those who were saying "crypto is going to see increased adoption, use cases and value over the coming years" ten years ago have so far been correct. The doom and gloomers have not. 

 

3 minutes ago, gk10012001 said:

You are drinking the Kook aid.  Millions of crypto have been stolen, lost, etc.  and those are just the big cases that make the news.  To even try to assert that everything is above the board, that the software is verified and validated, that all transactions are secure and inviolate is ridiculous.  Few people really understand block chains.  Ethereum just announced a known bug was exploited if one used an older version of its sw.  Invest as you want.  I can imagine a few Etfs might be worth taking a shot at.  But it is a pure gamble.  There is no real basis to judge the soundness of the investment as one might when buying a stock, such as Does the company make money, is there a financial moat, is expansion or growth likely, and dozens of other possible criteria.  Hoping to buy low and sell high...good luck

I am not drinking the Kool aid. I work in the industry and have a pretty solid grasp on what's taking place. 

 

Till date, in the main blockchains, the underlying ledger technology has not been compromised once. Let that sink in for bit... There have not been succesfull 51% percentage attacks (not in the major chains like Bitcoimn and Ethereum), no double spending attacks, nothing. 
 

All hacks, thefts you're referring either take place on the wallet level, ie unsafe handling of private keys (like storing funds at shady exchanges without access to your private keys) or smart contracts hacks where a coder simply built an unsafe contract that ended up being exploited. Blaming the later on the underlying blockchain tech is like using the password "1234" for your Gmail account and then stating that Internet is unsafe because your email got hacked. 

 

As for Ethereum having bugs, well yeah...it's a platform that's under development so there going to be bugs. However, these are always handled and sorted out in a timely manner and user's funds have never been at risk. This is way software moves forward unfortunately... things do break from time to time and will need to get sorted out. 

[Albert Zweistein]

Shiba Inu, all time high in 3 months.

[mjnaus]

16 minutes ago, ed strong said:

At least it sounds like they are pushing in the right direction, however i still remember the infamous tweet by Vitalik.....''Guys can you stop trading''

 

Anyone that can do this and would instruct it has to be slightly worried that a similar scenerio could occur in the future and then where does it leave it? Just seem to flaky to be taking 100% seriously imo.

Yeah, I remember that Tweet. Unfortunately, the Tweet in question has frequently been taking way out of context. It took place during "The DAO" smart contract hack where hackers were exploiting a flaw in the DOA's smart contract and siphoning off large amounts funds while unsuspecting traders were buying into to the DAO. The aim of the Tweet was to get people to stop making additional funds available for the hackers. 

We should also keep in mind that this took place years ago when the Ethereum community was a fraction of what it is today and a similar Tweet today might not have the same impact today as it did then. 

[darksidedog]

1 hour ago, gk10012001 said:

But it is a pure gamble. 

I am sorry but I have to call that an uneducated or ill-thought out comment.

I know it can appear that way though when you don't really understand what is going on.

I very thoroughly research everything I am considering investing in and continuously monitor the projects progress.

I am up a very significant margin as a result, and most of the time it does pretty much what the information available is telling me it is going to do.

That isn't gambling, its use of knowledge.

I am not in loss on a single crypto I have bought into, but I don't buy memes or sh!tcoins, though some obviously do and then wonder what went wrong when it sinks.

Admittedly most altcoins will rise and fall to a degree in tandem with Bitcoins movements, though not exclusively. MANA, Decentraland being one example. Everything was going down, but it kept going up. Cardano this month, very predictably rose significantly and is highly likely to do the same again next month, especially if big brother Bitcoin is even slightly moving that direction.

All investment is a risk at the end of the day though. Buying stocks, buying crypto, opening a business just in time for a pandemic to beat it to death, it is all the risk vs reward.

It only comes down to pure gambling though, when you don't know what you are doing or getting yourself into.

If you do adequate research and due diligence, and understand what a crypto does and its "tokenomics" it is less of a gamble and more of a fairly sure thing. Same with investing in stocks. Buying a company stock because its price is going up, but not knowing the fundamentals is likely to see you getting burned when you bought at the peak. I wouldn't be putting any money in the US stock market right now, because that is asking to get smashed, sooner or later. Very overpriced right now.

[YorkshireTyke]

What about Pi anybody?

 

Mine on your phone for free apparently.

[Will B Good]

2 minutes ago, YorkshireTyke said:

What about Pi anybody?

 

Mine on your phone for free apparently.

Got just over a 1000 at the moment.....no idea if they will be worth anything at the end of the day.

Edited August 29, 2021 by Will B Good

[Dazinoz]

39 minutes ago, YorkshireTyke said:

What about Pi anybody?

 

Mine on your phone for free apparently.

I am giving it a go. Cost me nothing so nothing to lose. Takes me a few seconds once a day. I am up to 571.

[Sametboy2019]

This is supposed to be the last bull run before a bear market so they will all pump to some degree.

Xdc, xlm, vet and hbar are reasonably priced for a punt.

Any iso20022 coin should be a decent investment long term.

[Freddy42OZ]

I'm heavy on ADA for the launch of their Smart Contracts platform on Sept 12. 

Other things I'm in or watching closely (no particular order and not financial advise)

XRP
XLM
THETA
TFUEL
XPRT
ZIL
COTI

Also looking into NFTs.  A friend just spent 2 million on a bunch of NFTs.

[The Cipher]

This is kind of irrelevant to the discussion, but I agonized about buying a floor Punk when they were 5 Eth (~$15,000) and then finally decided not to do it. God dammit.

 

Sorry. I just needed to unburden myself to cope, and this seemed like as good a place as any to do it.

[fdsa]

3 hours ago, YorkshireTyke said:

What about Pi anybody?

 

Mine on your phone for free apparently.

dafuq is Pi?

[whaleboneman]

23 hours ago, Tanomazu said:

Actually all cryptocurrencies are legal to use in most places, you just mean it does not have special legal status as a commodity or money I suppose? It probably won't get it, but then Bitcoin does not have money or currency status in most countries. Doesn't stop either of them from having market capitalization in the billions.

 

The 400 USD level is just one conservative estimate for the end of this year. However, by 2026 the forecast is 1900 USD. A 1000% increase looks pretty good.

 

Of course we'll have to see if it comes to pass. Some predict more, others less, but who knows the future really.

 

 

 

 

 

 

Well that forecast looks very accurate to me...$3,063 in 11 years. They must have a very good calculator.

Edited August 29, 2021 by whaleboneman
i screwed up.

[leeroy221]

I hold a few different ones but my main ones are: XRP, ADA (cardano) and TRX (Tron). I started 17 months ago and have made a lot on these 3 alone, i still have ADA trades open from last March which are over 9700% profit. Just a shame that when i started out i started off small but, the original £50 trade at 9700% profit is currently at £4677. I really wish i had more confidence in crypto when i started.

[leeroy221]

Just now, leeroy221 said:

I hold a few different ones but my main ones are: XRP, ADA (cardano) and TRX (Tron). I started 17 months ago and have made a lot on these 3 alone, i still have ADA trades open from last March which are over 9700% profit. Just a shame that when i started out i started off small but, the original £50 trade at 9700% profit is currently at £4677. I really wish i had more confidence in crypto when i started.

Cant wait for the SEC case againat XRP to be over, that will hopefully unleash that one and then looking forward to the FLR token.

[Sig]

There are the usual, but I think there is some potential that isn't often mentioned for TRX and ICP. 
LTC also looks like it might move soon too.... We'll see soon enough

[RAZZELL]

13 hours ago, Albert Zweistein said:

Shiba Inu, all time high in 3 months.

I've got $100 in it.

 

Hopefully it will move 6 decimals points ????

 

RAZZ