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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28574217 - 12/08/23 10:56 AM (1 month, 20 days ago)

The SEC is Tweeting out Warnings about Crypto which is the same thing they did before approving $BITO :sherlock:

 


BTC CME Open Interest has pushed past $5 billion.  Read: Institutions are here, and if they can't buy the coin, they're getting exposure through derivatives.

 


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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28574315 - 12/08/23 12:07 PM (1 month, 20 days ago)

And looky here, Solana overtaking Ethereum for NFT sales. :whoa:

 


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OfflineSpaghetti burrito
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28574377 - 12/08/23 12:50 PM (1 month, 20 days ago)

Mr Geokillz, i wonder if you've had any feeling regarding the outlook of ethereum. it seems to me like it's moat is eroding - other platforms with lower fees and faster are more capable of catering to the degenerates and nft enjoyers, which i guess constitutes the majority of ethereum's realized use cases and volume.

The ethusd chart, to my eyes, looks hella bullish. But the ethbtc pair appears to be languishing. if it's outlook isn't super positive in light of Solana and other projects gaining traction, would you think ETH is perhaps passe'?

I ask because I am considering changing my eth to btc. I've been somewhat less cosy with my eth of late.


Edited by Spaghetti burrito (12/08/23 01:37 PM)


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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Spaghetti burrito] * 1
    #28574481 - 12/08/23 02:22 PM (1 month, 20 days ago)

I don't consider ETH passe, as it still maintains the largest active developer community out of any blockchain network currently existing (although it is worth noting that Solana's community has been accelerating on ETH's heels).  Further, it also has supporting "layer 2" networks that aid in reduced transaction fees and lower latency, not to mention additional developer support.

I also don't think you need to pick only one horse at this still relatively early stage of the sector.  Hence why my money is spread somewhat evenly across BTC, ETH and SOL, with a smaller speculative allocation to the much more nascent and less active blockchain KOIN.

While I tend to maintain the most exposure to BTC overall, my ETH and SOL stashes aren't too far behind (SOL for a time was my largest holding during its last run north of $200, but I peeled off about half of my exposure throughout that run).  SOL recently eclipsed my ETH weighting due to its immense price appreciation of late, and is pretty close to eclipsing my BTC weighting as well, but you get the idea; these are my three primary allocations because I think they all have a lot to offer with respect to network participation, developer activity and sustained active address growth.

Lastly, that bitcoin has been leading the market and gaining "dominance" over the aggregate crypto sector, is not at all unusual.  Bitcoin has led all prior market up cycles.  In this case, the pending launch of BTC exchange traded funds in the US is creating a lot of FOMO, and probably deservedly so, as it will allow a lot of demand/capital that has been sidelined due to regulatory requirements, to enter the space more directly (as opposed to using derivative instruments such as the CME futures).  Ethereum ETF applications have been filed as well, but they started trickling in later, and so likely won't be approved for many more months at best.  I would nevertheless expect a trickle down effect if this cycle is congruent to prior cycles, whereby once bitcoin really grabs the mainstream media's attention, folks will start to move out on the risk curve to bid up various altcoins.


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OfflineManianFHS
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28575983 - 12/09/23 03:19 PM (1 month, 19 days ago)

I was not aware of exchange traded funds for crypto being on the horizon, that is really exciting!!

Certainly makes the company that has accumulated 175K BTC and counting look pretty intelligent. Hope Musk held onto his coins...


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OfflineSpaghetti burrito
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28576648 - 12/10/23 06:22 AM (1 month, 18 days ago)

Thanks for this response! Fair point about not having to choose 1 horse... Sort of got used to just having two bags.

When you're comparing developer activity for a chain what metrics do you use? mostly github?


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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Spaghetti burrito]
    #28576904 - 12/10/23 11:34 AM (1 month, 18 days ago)

Github is generally the accepted baseline metric to use, however you can use a less technically oriented approach simply by reviewing a network's ecosystem and seeing how many projects they have active, as well as any buzz about newer or yet to be released projects.  This is one of the reasons Solana is on such a move right now, as they have a lot of active products using the network, with relatively frequent updates and new projects set to release.


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Offlinemongo lloyd
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28577997 - 12/11/23 01:55 AM (1 month, 17 days ago)

What are your thoughts on the halving next year - is this gonna be another mega-bull run to eclipse 2021? Do you think some downwards price corrections will occur in advance?


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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: mongo lloyd] * 1
    #28578420 - 12/11/23 10:36 AM (1 month, 17 days ago)

Nothing goes up in a straight line.  The halving is an impending catalyst that I have made note of several times here, and is particularly nice this time because it comes on the heels of the expected launch of US based bitcoin ETF's.  Since a lot of folks are expecting a "sell the news" reaction to the ETF's being approved... well, when almost everyone expects one thing, the opposite often occurs at least insofar as trading is concerned.  The halving therefore appears to be an extra tailwind for the narrative that could sustain an enormous move higher... or not.

There's no soothsaying here, if you're a short term trader, you need to identify your stop (aka "I'm wrong") levels and adhere to them, in conjunction with skimming some profits incrementally along the march higher.  If you want long term exposure to the asset class because you believe (as I do) that it is the best trade available to counter sustained currency debasement over our lifetime, then you want to have some exposure regardless of short/medium-term price volatility.

Lastly, with regard to the halving, it's worth considering that it could put any number of highly leveraged bitcoin miners out of business, as their rewards are reduced by 50%.  This could turn them into forced sellers, in turn driving down price temporarily.  You just can't really know these things in advance.  Hence why the price/chart is the ultimate gospel in trading, it tells you everything you need to know about supply and demand, and from that, inferences to inform your risk management.


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OfflineBig_Dub
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28578426 - 12/11/23 10:45 AM (1 month, 17 days ago)

Decided to cash out all of my btc and eth. I kept a little eth in a separate wallet tho which I'll never sell.

I don't have the time to keep up with the news.

And I'd rather get the nice guarantee of an HYSA

Plus staking in California no longer can earn interest.


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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Big_Dub]
    #28578449 - 12/11/23 11:11 AM (1 month, 17 days ago)

The large exchanges won't let you stake, but there are plenty of ways to stake your assets if you self-custody.  With Solana, you can delegate staking your Solana directly through Solana wallets such as Solflare, which will integrate nicely with the Ledger hardware wallet.  With ETH, it's a little bit more complicated since you have to have a minimum amount and run you own validator, but there are ways around it, such as via LIDO's custom staking tokens.  Using Lido does introduce an additional measure of risk, since you are entrusting their management and protocol to function well and not get hacked, but they have a pretty solid track record to date, so the risk with them is, in my view, acceptable.  It is worth noting however, that during times of market duress, the value on their tokens can become temporarily distorted due to heavy selling pressure.

Recall, there is nothing overtly illegal about earning staking income on your crypto assets in California.  It is simply classified as interest income on your tax return.  The reason why major exchanges stopped providing the intermediary service is because they didn't want to run into potential prosecution from the SEC due to the ambiguous regulatory environment that currently exists surrounding their business practices... but rest assured there is nothing in the law that says you can't stake your own assets.


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OfflineBig_Dub
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28578568 - 12/11/23 01:12 PM (1 month, 17 days ago)

Thanks for the info! Feeling good about selling tho. It does seem like it's on the rise rn, but better safe than sorry. I've been in the green for a while


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split_by_nine said:
click me you fuck


do the right thing


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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28579864 - 12/12/23 11:26 AM (1 month, 16 days ago)

Check out the recent publication from Pantera Capital:


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Offlinetomnl
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills] * 1
    #28580998 - 12/13/23 08:26 AM (1 month, 15 days ago)

That ecb tweet tho. Hahaha


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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28588236 - 12/18/23 11:18 AM (1 month, 10 days ago)
Log in to view attachment

Attached is Bitwise's new ad for their bitcoin ETF.  Makes it all but a foregone conclusion that these will be approved, as the marketing starts ramping up!

Solana still leading the pack, showing a fundamental growth advantage over Ethereum with markedly more (and accelerating) active addresses on its network.

 


Considering the network's impressive and accelerating growth metrics, with continued active development and pushing past Ethereum's network usage at far lower use cost and far greater capacity, it seems only logical that one should ask the question why Solana could not meet or exceed Ethereum's market capitalization, provided it maintains its trajectory?

Although I'm not one to lean too heavily on price targets, with the Ethereum network presently valued at ~8.67X Solana's ($260B vs $30B), it seems that one could reasonably stick a lofty SOL target in the vicinity of $600, strictly to match Ethereum's present day market capitalization.

:strokebeard:


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Offlineblackhawk
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
    #28588661 - 12/18/23 04:54 PM (1 month, 10 days ago)

Just bought some Sol. Get ready for a 60% correction


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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: blackhawk]
    #28589090 - 12/18/23 09:18 PM (1 month, 9 days ago)

si=0MZJItA_Kha9gExN

New video on KOIN


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Been away so long I hardly knew the place
Gee, it's good to be back home
Leave it till tomorrow to unpack my case
Honey disconnect the phone
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You don't know how lucky you are, boy
Back in the US
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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: blackhawk]
    #28591224 - 12/20/23 11:30 AM (1 month, 8 days ago)

Quote:

blackhawk said:
Just bought some Sol. Get ready for a 60% correction




Not even!  SOL just tagged $84.  Placed a limit sell on a piece at $90.

Some notes on my DeFi experience.  I had a fairly sizable tranche of SOL I had unstaked a month ago, which I decided to swap into liquid staking tokens bSOL and JitoSOL, in turn using those across several Kamino.finance products such as their Liquidity Pools, Lending, and Multiply (leveraged/loop debt) strategies.

I'm doing this both to harvest points for the expected Kamino airdrop, but also because the liquid staking tokens are earning practically the same amount as directly delegated SOL staking (at the cost of incurring de-peg risk), and the Kamino strategies are quite rich on rewards.

In particular, the JitoSOL-SOL Liquidity Provider strategy is offering a three month bonus faucet of JitoSOL which brings the APY to over 23% (this LP is oversubscribed so it's very difficult to commit funds, I've had to check periodically and have only been able to allocate in ~$5K nominal value increments as folks withdraw or the market value has drawn down below the $20MM maximum cap for the LP).  I'm also getting 10% APY through the leveraged debt Multiply strategy on bSOL/SOL, which is conservatively positioned at a ~65% loan-to-value (you can set your LTV as high as 80% for a ~15% APY), where liquidation does not occur unless a 90% LTV is hit.  Because bSOL is a liquid staking token for SOL, they will theoretically maintain relative parity, reducing liquidation risk, although a massive aggregate market liquidation event could temporarily de-peg bSOL and in turn run losses on the Multiply strategy.

These DeFi strategies are intriguing, and it's hard not to want to plow my entire portfolio into them for the massive returns... but I've witnessed a lot of DeFi protocols fall victim to hacks that have drained vaults, and the last time I got too cute with "easy returns", TerraLuna blew up and cost me well into the six figures over the course of a weekend.  Therefore, I'm mitigating risk by only utilizing up to 5% of my aggregate crypto for these strategies.


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OfflinegeokillsA
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills] * 1
    #28591628 - 12/20/23 04:44 PM (1 month, 8 days ago)



Sometimes you really don't need to overthink things... Buy the green line until it stops working, then take some profits.

:tarantino:


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InvisibleDekozn
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills] * 1
    #28591953 - 12/20/23 08:33 PM (1 month, 7 days ago)

Don't forget it's tax season lol


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