Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects

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geokills
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Registered: 05/08/01
Posts: 25,299
Loc: city of angels
Last seen: 15 hours, 19 minutes

Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects

[Re: vandago]

1
#28866647 - 07/17/24 08:42 PM (2 years, 3 months ago)

Hah, congrats vandago. Man, that is not at all a coin I'd be interested in holding for anything more than a short term trade. Ripple regularly dilutes holders by issuing massive amounts of coin to its founders/ownership, and regularly liquidates said coins on the open market to raise money, thereby creating a heavy and consistent supply flow that works to keep a lid on price (as regular large selling requires more than average buying to push price higher). But good on you for makin' that paper! I'd suggest trading out of it to lock in your gains and move into something with, in my view, more potential upside such as Solana/SOL.

Crypto is still rangebound, in its months long consolidation between BTC $60-70K. But the fact that it didn't break down, as it was threatening to only a week ago, is good news. Trump's pro-crypto running mate, Trump's impending appearance at some crypto conference, China's potential loosening of crypto restriction, the impending launch of the Ethereum ETFs, and last but certainly not least... central banks shift toward easing, with 80%+ odds of the first US rate cut in September, leading to increased liquidity and money supply globally, are all putting the wind at the back of the cryptosphere.

At the risk of being overly enthusiastic, I'm still massively overweight crypto, and believe that we have a long runway to go, despite the remarkable gains achieved since the genesis of this thread.

Quote:

🧡 Bitcoin ETFs inflow the biggest in 6 weeks, Net +$422.5m

🤔 Bitwise thinks the Ethereum ETFs will push ether over $5000, over time.

👀 Bloomberg’s senior ETF analyst, Eric Balchunas, predicts a surge in the popularity of crypto exchange-traded funds following the introduction of Ethereum ETFs. Balchunas believes a Solana ETF could be the next to hit the market.

🤡 Craig Wright, the Australian computer scientist who has long claimed to be the creator of Bitcoin under the pseudonym Satoshi Nakamoto, has been referred to the UK's Crown Prosecution Service for potential perjury and forgery charges.

🔶 Former president Donald Trump is planning to release a fourth NFT collection, according to a Bloomberg interview. He also said the country needs to take the lead in cryptocurrency before China.

💰 FTX and the CFTC have agreed to a $12.7 billion settlement after months of negotiations. The settlement includes $8.7 billion in restitution and $4 billion in disgorgement, aimed at repaying creditors directly.

🇭🇰 Hong Kong is one step closer to stablecoin regulations.

💳 Payment giant Stripe has expanded its crypto integration into the European market, enabling shoppers to buy cryptocurrencies, including Bitcoin, Ether and Solana, using a credit or debit card.

Oh, and you can now buy a pretty cool lookin' bitcoin wallet, Jack Dorsey's BitKey: https://bitkey.world/en-US

Pricing is all over the place, depending on your shipping location and ISP/Browser...

Brave Browser with US IP Address: $150
Edge Browser with Costa Rica IP Address: $50
Chrome Browser with US IP Address: $25 :yesnod:

Another colleague loaded up the page to get $100 price tag. Very strange.

But I picked one up at $25 just for shits and giggles.

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