Crypto trading/market thread

pmbug

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I made a coinbase account a long time ago when I was messing around with few dollars worth of bitcoin, litecoin and etherium. It had been so long since I last logged in or looked at it that I had pretty much forgotten about it. But they recently sent me an email with an offer to watch a few videos and "earn" $10 worth of something called Stellar (traded as XLM on their network). So, I watched the videos and took their quizzes and "earned" $10 worth of XLM. Took just a few minutes and was easy to do. I think I have more questions about Stellar than when I started, but whatever. If you have a coinbase account and haven't already seen these videos/quizzes, you can do so from here (and earn $10 worth of XLM for yourself):

https://coinbase.com/earn/xlm/invite/xbtwzc20

If you don't have a coinbase account, and would like to experiment with crypto, you can use this referral link to open an account:

https://www.coinbase.com/join/5a54e7dee5fc3305c5c056d6

If you end up buying $100 worth of crypto (bitcoin or whatever), we both get $10 worth of bitcoin for free.
 

pmbug

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I checked my coinbase account this morning. The $20 worth of Stellar that I got for free last year is currently worth $15 apparently. Huzzah!

Etherium and Litecoin are similarly swirling the drain right now (even further down actually). Bitcoin, however, has been on the rise recently. I bought $48 worth of bitcoin back in January 2018. Coinbase gave me another $10 (for opening an account). That $58 worth of bitcoin from nearly 3 years ago is now worth... <drum roll> ... $67. Now that's some sweet ROI!
 

pmbug

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Well, roughly a month after my last post and my crypto holdings have all nearly doubled in value. Crazy stuff.
 

pmbug

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Well, everything crypto is flying on rockets right now. It's getting ... frothy.
 

pmbug

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Crytos are crazy.

Friday, bitcoin was nearing $40K/btc. Sunday, it tanked down to $36K/btc. This morning, Elon Musk decides to drop $1.5B into bitcoin and announced that Tesla will accept bitcoin payments for Tesla cars. Bitcoin hit $44K/btc a short while ago.

whiplash.gif
 

pmbug

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Bitcoin hit 55k today and surpassed $1 trillion market cap. I thought about buying a bit more when it briefly dipped to 45k a week ago, but failed to do so. F me.
 

pmbug

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Coinbase, one of the biggest and most established cryptocurrency exchanges in the world, has filed to go public via a direct listing in the US. The listing - which has been described as a "break-through moment" for the industry - will see shares of Coinbase trade on the Nasdaq following a direct listing.

The company filed its S-1 Thursday morning, offering the most insight yet into the firm's financials.

Coinbase, which has seen its revenue explode over the last 12 months, is hoping to list under the ticker "COIN".

Axios reported earlier this month that Coinbase was valued at just over $100B during its most recent private fundraising round.
...
At that valuation, COIN would clinch the highest IPO valuation ever, higher than Uber and Facebook.

 

pmbug

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... Coinbase ... reported about $1.8 billion in revenue, a 9x increase from the prior year, and a net income of $730M to $800M on an adjusted EBITDA of about $1.1 billion. In addition, the company boasted 56M verified users (13M of them added in Q1 alone) and 6.1M monthly transacting users (+3.3M in Q1). Revenue growth over the last quarter was 207.6%, net income was up 312.9% and volume traded was up 272%.
...


Bitcoin flirting with the $60K mark again. Etherium pushed through $2K convincingly. Looks like the music isn't going to stop any time in the near future for cryptos.
 

pmbug

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Cryptos to the moon this morning. Bitcoin blowing through 62K. Etherium broke through 2.2K. Just about everything is breaking through all time highs.
 

pmbug

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Saw on ZH that eBay CEO mentioned on CNBC that they are looking into allowing transactions with crypto. This would be pretty huge if they actually do it.
 

rblong2us

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In the last couple of weeks I have been amazed at the number of people I have chatted to who are now immersing themselves into crypto awareness and starting to make serious gains.
And I am talking about older folk, kinda over 50's, who in the past would have been more inclined to consider the metals.....

Should I sell the loss making silver and join them ?
 

pmbug

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I've been dabbling with the cryptos, but I didn't sell any metal to do so. There is still a good chance that the metals will break out. The disconnect between paper and physical is as bad as I can remember.

Cryptos seem like a no brainer right now, but that might be an indication that we're near the top/end of the mania. Then again, they might go to the moon.
 

pmbug

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Crypto markets are absolutely melting down right now. Blood in the cyber streets.
 

rblong2us

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Good time to get in or sit quietly by and watch ?

Glad I am in that place of safety right now though (-:
 

pmbug

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I'm no expert, but it looks like the crypto markets are consolidating around their new bottoms right now. If you have play money you can afford to lose, now seems like it might make a decent entry point for gambling on some crypto.
 

pmbug

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Bitcoin hit a new all time high this morning. Ethereum back over $4k and likely to test it's all time high within the next few days.
 

rblong2us

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Hard to ignore the difference in performance between the metals and crypto.
Ive followed crypto /bitcoin from its beginning and read articles attempting to make sense of satoshi's 'white paper'
There are and continue to be a coupe of reasons why I have not dived in.

I am a luddite when it comes to button poking tronics and have massive problems with remembering passwords, where I put the latest version and generally getting my last century hardware to function enough to do emails and visit websites ...... Yes, Do Chen offered to create me a wallet and donate some bitcoin to get me started but I held out :oops:

When I divorced, sold my house and bought metals in 2012, the banking world was about to collapse and fiat was looking like it had no future.
It was a huge relief to get out of fiat and into the comparative safety of metal, albeit with the risk of'did it even exist at the vault that was charging me for storage and insurance. And now 9 years later the metals are up around 15% from when I purchased ( not even close to keeping up with inflation ) and going nowhere :( But I still feel very much guided to stay where I am and stay safe. This intuition goes beyond logic and has generally served me well in life. So going with the current trends and selling my loosing pile of silver and dumping it into crypto when at an ATH, would be a signal to the rest of the world that the opposite trade would be the one for a quick profit.

So I continue with my intuitive approach and watch the show in a detached manner but dont come to me for financial advice unless you can afford to loose some:ROFLMAO:
 

pmbug

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... Yes, Do Chen offered to create me a wallet and donate some bitcoin to get me started but I held out ...

I took DoChen up on that offer. I installed Multibit software and created a wallet. He sent me .005 BTC which was worth $1.50 at the time. It took a day or two for the transaction to complete. That .005 BTC he sent me is worth roughly $310 today. I still kick myself for not listening to him and dropping $100 or $1k into Bitcoin at the time for shits and giggles.
 

pmbug

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pmbug

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Etherium successfully completed it's merge and has been going through growing pains as some miners under the old system rebel against the new system (which doesn't reward them like the old system did). Anyways, while all cryptos are down bigly from their ATHs, I thought this news might prove significant down the road as it matures:

... Robinhood announced the beta launch of Robinhood Wallet, a standalone app on the Apple Store that allows users to trade and swap cryptos with no network fees.

According to Robinhood its wallet is a self-custody, Web3 wallet that will initially support the Polygon network as its first blockchain, with plans to add support for additional networks in the future. ...

 

Sampson

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I have been into crypto for quite a few years now. I also have a fairly substantial mining farm. Since Eth moved to proof of stake the crypto mining world has been turned upside down and profits have taken a huge nose dive. Eth smart contracts have massive potential as the concept matures and after the implimentation of Eth sharding it has the potential to really shake up the contract and logistics worlds.

That said, I feel that we are now in a good accumulation area and while I still expect some lower dips in the short to mid term, I am accumulating at these prices. As the next halving cycle run ramps up in the next couple years we will look back at current prices and see that another 10, 20, 30% lower from here is a small dip compared to where prices are going.

Technology marches inexorably forward and I remember many years ago when so many people said cell phones were just a fad. They also said the internet would never catch on. No one would ever have a computer in their home. And, recently all meetings used to be done face to face.

I love gold and pm's but I also see the massive potential of the crypto world, and not just as an alternative currency but more as a web3 application and cryptographic security solution.
 

pmbug

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I posted a note in another thread, but I'll share it here as well since it might portend something significant for the crypto space -whether it's positive or negative, I really don't know yet...

Chainlink (LINK) co-founder Sergey Nazarov revealed that the oracle provider has partnered with the interbank messaging system SWIFT to develop a new proof-of-concept (PoC) project that will enable traditional finance firms to transact on blockchain networks.

Nazarov announced the new endeavor at its SmartCon 2022 Conference in New York on Sept. 28 in conjunction with SWIFT strategy director Jonathan Ehrenfeld Solé.

By utilizing Chainlink’s cross-chain interoperability protocol (CCIP), the PoC will allow SWIFT messages to instruct token transfers across nearly every blockchain network. This will help to accelerate the adoption of distributed ledger technology (DLT) blockchains across capital markets and traditional finance, Nazarov said.
...
The main issue with SWIFT is that transactions can take several days to complete, which is not exactly convenient in an increasingly fast-paced world of global trade and business. To help combat this, the organization recently revealed a new pilot program with Symbiont to explore the integration of blockchain technology to help improve its system.

The firm has also been exploring the use of central bank digital currencies (CBDCs) to facilitate faster payments.

By collaborating with Chainlink, SWIFT member institutions will be able to incorporate the capabilities of blockchain without having to replace, develop or integrate new connections with legacy systems – an undertaking that would require significant modifications a come with an “exceptionally high” cost.

This is not the first collaboration between SWIFT and Chainlink, as the pair had previously worked together to explore bond issuance and redemption, according to Solé.
...


I'm honestly not entirely sure what to make of this news. What blockchains is SWIFT hoping to utilize? Are CBDCs much closer to reality than we think or would SWIFT really use an existing tech like Etherium?
 

spinalcracker

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I have a little stash at Coinbase

it took quite a hit when it went from $60k down to $20k

but after 7 years I am in the black

i did about every quiz Coinbase offered and I had about 15 different cryptos in my portfolio

I sold them all and put the meager proceeds into etherium

I bought into etherium at the $750 level
 

Goldhedge

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This bitcoin is uncharted territory for me.

Not sure where to begin, but it now looks as if it is here to stay.

I went as far as opening a coinbase account once. Never pursued it further.

Any of those quizes still out there?
 

pmbug

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Yes, coinbase still has quite a few of them. They typically reward you with about $3 worth of some obscure crypto for watching a short video and answering a few very easy multiple choice questions.
 

#48Fan

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I was watching one of David Morgan's videos about this the other day. The guy he was talking to about the upcoming fednow/swift whatchamacallit said there were several blockchains in the running (off the top of my head): XRP, XLM, HBAR, ALGO and a couple others. This guy had another interesting tidbit, he said the rollout will be just an "upgrade" to the existing swift system and a rollout of FEDnow. Neither will begin as crypto, while they hammer out the bugs in "the back end". Once they get everything worked out and enough sheep using the system, they'll attach the "back end" and POOF, it's now programmable currency.

Sounds about right to me.
 

<SLV>

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Yes, coinbase still has quite a few of them. They typically reward you with about $3 worth of some obscure crypto for watching a short video and answering a few very easy multiple choice questions.
Yes, and Immediately trade it for Bitcoin.
 

pmbug

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... Fidelity Investments has launched a new Ethereum Index Fund that will provide its clients with exposure to Ether (ETH), according to a document the firm filed with the SEC on Sept. 26.

The new fund accepts minimum outside investments of $50,000 and it has already seen more than $5 million in reported sales.
...
This most recent development follows last month's revelation that Fidelity Investments is mulling over the idea of letting all of its retail customers have access to trading Bitcoin (BTC) directly through the brokerage platform.

Fidelity Digital Assets is also part of a group of institutions that are backing the launch of EDX Markets (EDXM), “a first-of-its-kind exchange that will address latent demand for digital asset trading by enabling safe and compliant trading of digital assets through trusted intermediaries.”
...

 

Voodoo

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I am finally looking to actually buy into some Crypto. But I will NOT be going mainstream and do not want a Coinbase or other trading account. I really would want some Monero, Dero, or some other more private coins but have no idea where to buy, etc. I might also actually try the Gamestop marketplace and start playing a Web3 game. So why not make my first purchase into an NFT for it too? Mostly to figure this crap out.
 

#48Fan

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I am finally looking to actually buy into some Crypto. But I will NOT be going mainstream and do not want a Coinbase or other trading account. I really would want some Monero, Dero, or some other more private coins but have no idea where to buy, etc. I might also actually try the Gamestop marketplace and start playing a Web3 game. So why not make my first purchase into an NFT for it too? Mostly to figure this crap out.
If you have any specific questions just holler. The main hurdle you are going to have is an onramp. I use Coinbase. It's the easiest. I buy it and transfer it out of there. You could also try and find a local BTC ATM. Either way, you will have to deal with KYC. The only way around that I know of is if you buy privately from someone you know.

I'm not positive, but Monero should be available on Coinbase. There are more hurdles to jump through for DERO.
 

pmbug

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... You could also try and find a local BTC ATM. ...
I was shocked when a local liquor store chain (Spec's) joined a promotional roll-out of bitcoin ATMs at all of their stores (at least all the ones near me).
 

#48Fan

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The only ATM here I know of is in a Coinstar machine lol.
 

Voodoo

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I mostly would follow the Dollar Vigilante guy for crypto recommendations... But I have yet to do so. I think most of his video's / thinking is right on and he was pretty early in the space.

 

#48Fan

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I mostly would follow the Dollar Vigilante guy for crypto recommendations... But I have yet to do so. I think most of his video's / thinking is right on and he was pretty early in the space.

Yeah, I like ole Jeff Berwick a lot. I don't subscribe to his newsletter, but I always enjoy his videos.
 

#48Fan

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Looks like you can pick up DERO on Kucoin. Good site, I've used it several times in the past. Great thing, no KYC. Worse thing, no way to purchase with fiat AFAIK.

I also believe DERO has it's own wallet that you will have to look into. Self custody is paramount. I don't think there are any hardware wallets that are compatible. If you find out otherwise, please let me know.

ETA: Here's the link for the DERO wallet

 
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