Cryptocurrencies Part III - We ran as if to meet the Moon

[SuperScript29]

Why so much focus on the supply? Whether you can buy 100k or 7 million with $1000 is largely irrelevant. Market cap is the figure that matters.

People put far too much stock into the individual token price.

While true, you still need to consider max supply along with the circulation supply. For example if coin X has a circulation supply of 2 billion but a max supply of 20 billion, you need to consider that more tokens will likely be released over time and that will hold the price down. A market cap of 1 billion on 2 billion is 50 cents, while over 20 billion it's 5 cents, huge difference.

 

[SuperScript29]

Looks like Steam is banning NFT/Blockchain games from their platform, that's a good thing, I'm glad they're doing that.

Valve bans blockchain games and NFTs on Steam

 

[The Crypto Guy]

Looks like Steam is banning NFT/Blockchain games from their platform, that's a good thing, I'm glad they're doing that.

Valve bans blockchain games and NFTs on Steam

Silly move by Steam. Epic swoops right on in…

https://ftw.usatoday.com/2021/10/epic-games-blockchain-valve-steam

 

[Club]

Maaaan dumb enough I am, I pulled out nearing ATHs. God a decent collect. Definitely will be purchasing in the next couple days.

 

[The Crypto Guy]

Maaaan dumb enough I am, I pulled out nearing ATHs. God a decent collect. Definitely will be purchasing in the next couple days.

Never dumb to take profits

 

[2CHAINZ]

 

[beowulf]

So some Walmart stores are getting into the crypto business of sorts. More specifically you can now buy bitcoin and some stores via Coinstar

You Can Now Buy Bitcoin at Some Walmart Stores Across the U.S.

 

[Gardner McKay]

Silly move by Steam. Epic swoops right on in…

CEO of Epic Games welcomes blockchain games after Valve removes them from Steam

Agree. Unbelievably foolish move by steam.

Maaaan dumb enough I am, I pulled out nearing ATHs. God a decent collect. Definitely will be purchasing in the next couple days.

Dumb enough is people who don't take profits during ATH's. Nothing goes up forever and in crypto when it falls, it falls fast and hard. You DCA buy on the way down and DCA sell on the way up.

You did the right thing by taking some profit.

So some Walmart stores are getting into the crypto business of sorts. More specifically you can now buy bitcoin and some stores via Coinstar

You Can Now Buy Bitcoin at Some Walmart Stores Across the U.S.

I actually saw one of these at Winn Dixie when I was at the beach last weekend. Pretty neat IMO.

 

[Gardner McKay]

For the most part.

I think the end of this year will be hype around Metaverse coins like Starl, UFO and more recently, DXO.

2 months ago.

If you are into gaming and are looking for a project with Axie like potential, I'd check out UFO.

Building a full metaverse with multiple games and are incorporating NFT's into the gaming ecosystem. The token will become deflationary once the game is launched as it is used for a number of things in game. Team seems to be pretty on point.

DYOR but cool project I thought I'd share.

UFO Gaming price today, UFO to USD live, marketcap and chart | CoinMarketCap

1 month ago.

Not to break my arm patting myself on the back but...

https://www.dextools.io/app/ether/pair-explorer/0xa5e9c917b4b821e4e0a5bbefce078ab6540d6b5e

https://www.dextools.io/app/ether/pair-explorer/0x97e1fcb93ae7267dbafad23f7b9afaa08264cfd8

https://www.dextools.io/app/ether/pair-explorer/0x242301fa62f0de9e3842a5fb4c0cdca67e3a2fab

 

[The Crypto Guy]

My SO invested a sizable chunk into Ethereum. She woke up pretty furious this morning. And I'm sitting here thinking this is why I never dipped my toes into crypto in the first place.

Sooo, how's she sitting right now with her investment almost tripled? You probably wished you did dip your toes in when she did

 

[HanSolo]

Sooo, how's she sitting right now with her investment almost tripled? You probably wished you did dip your toes in when she did

Sure did. O well.

 

[The Crypto Guy]

Sure did. O well.

Still not too late! But at the very least you should get some nice Christmas gifts this year!

 

[Gardner McKay]

Sooo, how's she sitting right now with her investment almost tripled? You probably wished you did dip your toes in when she did

With the current burn rate, it is going to be $10k sooner than most realize.

 

[The Crypto Guy]

With the current burn rate, it is going to be $10k sooner than most realize.

It’s insane how much is being burned….over around the last 24 hours 15,100 ether was burned(value of 70 million dollars), that is incredible.

 

[x Tame Impala]

With the current burn rate, it is going to be $10k sooner than most realize.

Can you explain ‘burn rate’ please?

 

[Gardner McKay]

Can you explain ‘burn rate’ please?

The last update to ETH made the token deflationary. More is being burned than minted. The rate of tokens being burned is faster than most expected.

 

[SuperScript29]

Any of you guys using Tinyman yet? I won't share how much, but I just hit it big time with a meme coin on there, yes, it's another doggy coin and you'll know which one it is by looking at the Tinychart.

 

[The Crypto Guy]

Any of you guys using Tinyman yet? I won't share how much, but I just hit it big time with a meme coin on there, yes, it's another doggy coin and you'll know which one it is by looking at the Tinychart.

You didn't hit it big till you sell. I hope you sold and ran with those profits, it will probably come crashing down as fast as it went up.

 

[SuperScript29]

You didn't hit it big till you sell. I hope you sold and ran with those profits, it will probably come crashing down as fast as it went up.

Well I swapped it, and it's the biggest jackpot of my crypto existence, I switched most of it to Algorand but still kept a nice bag of 130k just in case it's the next SHIB. Now I need to figure out the tax stuff, granted I have not moved the Algo to a centralized exchange yet but I feel lost with the taxes.

 

[JohnC]

Anyone been following the Loopring hype? Trying to decide if it's worth taking a flyer on even though it's at it's ATH today.

 

[SuperScript29]

Anyone been following the Loopring hype? Trying to decide if it's worth taking a flyer on even though it's at it's ATH today.

There you go, buy at an ATH, typical crypto investor move lol.

My moto is to never buy a coin once it's already hyped, that is unless you're a whale and willing to throw serious money at it because you believe it has a value. Throwing a few hundred something dollars at LRC will not gain a whole lot.

 

[S E P H]

I have 7 million SHIBA

I’ll see you Bros in 2040 when I’m a billionaire

Anyone tried Tinyman dex yet? It's amazing, I really hope more coins come out on the Algorand blockchain, it's so damn fast and cheap compared to the ones on the Ethereum network such as Uniswap or Sushiswap.

I had like a 100 million, would've been worth 3k today but I did what any good investor does, buy at an all time high and sell at an all time low

Yeah, a lot of friends are moving into Shiba and I don't blame them. Really easy to make fast money when the coin goes up 1000% and you just rake in the profit since you can buy so much of it. I know a bloke who bought around two billion Shiba coins in January.

I am personally focusing on Stellar, it has been a great coin lately and I think it could reach into the dollar-ish market. Wish I got into Avalanche or Polkadot though when they first came out.

 

[Wafflewhipper]

The Shiba experiment has been interesting, I had about 100 million of it but decided to convert it to CRO instead. Anyways, the vast majority of people invested in it don't understand the concept of market cap, circularly supply, etc. You get a lot of people dreaming of it reaching a dollar, it won't even come close to a penny, let alone a dollar. You would need a massive burn for it to have that kind of chance, and the developers (Who I think are very sketchy) already confirmed that they have no plans to burn Shiba, instead their intention is to be able to use SHIB in their Shibaswap to get the other tokens that they created (Bone and Leash), the money is supposed to be in those.

Haven’t checked in here in a long time. I wish you kept shib. I grabbed a bunch of IOTEX recently. Looks like lots of utility to that project. Held some Vet/VTHO for ever and got itchy feet and dumped at even then it went up ha.
What’s everyone’s new favourites after that mini correction? Hope everyone is doing well. Still holding my shib from a couple zeros back. Still buying weekly. A million holders now so the strength is there community wise.
I think IOTEX is a much better project than Vechain ( vet) thoughts on them two blockchain tokens anyone?
Kind of thinking IOTEX might 2x here very shortly but DYOR

 

[SuperScript29]

Haven’t checked in here in a long time. I wish you kept shib. I grabbed a bunch of IOTEX recently. Looks like lots of utility to that project. Held some Vet/VTHO for ever and got itchy feet and dumped at even then it went up ha.
What’s everyone’s new favourites after that mini correction? Hope everyone is doing well. Still holding my shib from a couple zeros back. Still buying weekly. A million holders now so the strength is there community wise.
I think IOTEX is a much better project than Vechain ( vet) thoughts on them two blockchain tokens anyone?
Kind of thinking IOTEX might 2x here very shortly but DYOR

Nope, I converted my SHIB to CRO (When it was like 0.12), and I don't regret it one bit

 

[The Crypto Guy]

I have had a ton of success following a few rules with Crypto, After doing it for years now.
(This is not financial Advice, I am not a Financial Advisor, Trade at your own risk)

Here is what "I" Do. (Once Again, Trade at your own risk)

My Rules:
#1 - ETH / BTC is king - 50% of my Profile is between these two coins, This will never change, It's static, Safe, And pretty reliable overall.
#2 - Exchange Coins - CRO, BNB, KCS - These 3 are my Bread and Butter.
As Exchanges continue to grow, Learn new technology, and more people use them, These Coins are pretty steady for yearly growth, I usually put 25% of my Profile on those.
#3 - Established Layer Coins - Anything like SOL, AVAX, ADA, LINK - Smart Contract + Development with Future sustainability is what is mostly what I am looking for here.
Usually about 15% of my Portfolio goes into these.
#4 - Trending Coins - Meme, NFT, Metaverse, etc. - ENJ, Mana, Sand, Gala, Floki-Inu, Shiba, etc.
I Basically put in 10% of my portfolio for massive boom/bust potential.

And that's basically what I do, It's not a perfect formula for Insane gains or anything, But it's worked for me.

Crypto honestly is a ton of fun if done correctly.

Smart man, great post.