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

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Deacon Blues said:
www.cnbc.com

Bitcoin abruptly tumbles as much as 9% to just over $26,000 late Thursday

The virtual currency dropped sharply on Thursday evening.
www.cnbc.com www.cnbc.com

As I've been saying since pre-Covid, Crypto is dumb.
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www.wsj.com

Bitcoin Rallies, Crypto Assets Surge After Grayscale Wins Suit Over ETF Application

Bitcoin rose Tuesday, extending gains after a court ruled that the Securities and Exchange Commission should not have rejected asset manager Grayscale's spot bitcoin exchange-traded fund applicatio
www.wsj.com www.wsj.com

WOMP
 
Anyone collecting any of those reddit community tokens? I've been collecting Moons which are offered as community points on the cryptocurrency subreddit for over a year now. Not long ago they got listed on Kraken and I was able to make a killing out of it.

I noticed other communities are offering something similar. The Fortnite sub has a token called Bricks, and the EthTrader has Donuts.
 
SuperScript29 said:
Anyone collecting any of those reddit community tokens? I've been collecting Moons which are offered as community points on the cryptocurrency subreddit for over a year now. Not long ago they got listed on Kraken and I was able to make a killing out of it.

I noticed other communities are offering something similar. The Fortnite sub has a token called Bricks, and the EthTrader has Donuts.
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No, and frankly I think it's so dumb. I just can't fathom why doesn't would trade actual bitcoin or ether for those joke coins.
 
Jovavic said:
Couldn't the same have been said 14 years with actual money and bitcoin?
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Sure. But we are talking about now. Sorry but "donuts" and "moons" is about as much of a joke as that dog coin which has been steadily bleeding in price for over 2 years.
 
The Crypto Guy said:
Lmao anyone with a brain knew NFTs were going nowhere. Feel bad for anyone who thought otherwise and wasted money on them.
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You should've seen how many brainless people I've encountered by virtue of my girlfriend being an artist/digital designer who dipped her feet in the space to make a little money. She'd take me to all these NFT meet ups/networking events and all I really had to pass the time was asking people about their thoughts on what I felt were very obvious flaws in the concept. Which was always met with empty hype buzzwords and strawman arguments about pseudo-ownership and artificial value.

Among a number of other issues, a big one that stuck out to me was the sheer volume or 500-10000 piece NFT collections that were launching on the various NFT marketplaces on a daily basis. To me, with that kind of market flooding on a product that ultimately doesn't do anything for you aside from being able to whip out your phone and say "look which ones I have" or selling to the next, bigger idiot, I couldn't see how the market could survive. Even the more well known "pieces" would take a hit if the majority of the market is flooded with useless crap procedurally generated by an AI program.

Thankfully my girlfriend just did design work for a couple projects and didn't involve herself much further than that, but she was contemplating getting deeper into it.
 
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HanSolo said:
You should've seen how many brainless people I've encountered by virtue of my girlfriend being an artist/digital designer who dipped her feet in the space to make a little money. She'd take me to all these NFT meet ups/networking events and all I really had to pass the time was asking people about their thoughts on what I felt were very obvious flaws in the concept. Which was always met with empty hype buzzwords and strawman arguments about pseudo-ownership and artificial value.

Among a number of other issues, a big one that stuck out to me was the sheer volume or 500-10000 piece NFT collections that were launching on the various NFT marketplaces on a daily basis. To me, with that kind of market flooding on a product that ultimately doesn't do anything for you aside from being able to whip out your phone and say "look which ones I have" or selling to the next, bigger idiot, I couldn't see how the market could survive. Even the more well known "pieces" would take a hit if the majority of the market is flooded with useless crap procedurally generated by an AI program.

Thankfully my girlfriend just did design work for a couple projects and didn't involve herself much further than that, but she was contemplating getting deeper into it.
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Boom, exactly. This should have been the massive red flag for the start.

But I guess if 5% are still worth something, that is still a lot and I would assume those would be the bigger ones from companies and what not. Not the 2 billion of them created by someone in their paint program looking to make a quick buck.
 
idk if its wars destabilizing the world and reminding people that having capital not controlled by a government is good, ETF hype or just the typical BTC halving schedule but we might be in the early stages of another cycle.
 
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The Crypto Guy said:
Ether back to 2,000 :D
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I put a little bit ($100) more into it today after my paycheck hit. Seems like it's on its own bull run for its own fundamentals and not just riding BTC's wave. I'm much heavier in BTC than ETH but exposure to both looks like it's going to be profitable in the near and long term.
 
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What a month it's been!

Bitcoin hitting 43K today, Ether hitting 2,300! Both around 18 month highs.

No signs of slowing down but just going up up up!

Good time to be a Crypto holder ;)
 
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I can't wait to sell my ETH but out of curiousity, what was keeping it at that ~$2000 price point after the big crash? I'm surprised it didn't bottom out. I remember reading on the use-cases for ETH and the meta-verse being a big one, seeing how that's going so poorly i'm not sure what's keeping the price afloat. Let alone the recent price surge
 
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