1 BTC = $8.2k, it’s up 735% this yr UPDATE 5/19: BTC @ $42k :damn:

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FaTaL said:
In your opinion what the hell is going on?
Click to expand...

i don't have a grand theory for what is going on now.

in general crypto isn't a well normal functioning market for a number of reasons so IMO it is going to be volatile, for quite a while at least.

i don't think that the version of crypto/blockchain that works is going to look like what we have now.

i think privacy coins will gain more attention, as crypto tracking becomes more sophisticated, and they will probably be heavily regulated. just like how the USA used to ban strong encryption exports. Export of cryptography from the United States - Wikipedia

i think that no matter what, there will be a market for independent public blockchains and crypto.

issues

  • new tech
  • unregulated
  • fast moving
  • sentiment driven
  • unclear and conflicting aims.
  • high number of untrained entrants who do not understand what they are dealing with
  • dominated by BTC
  • social media
  • scams
  • operates 24/7 - no forced closure
  • asymmetric power - e.g. musk, cacafee ...
  • rudimentary tools and products

and longer term problems

  • unproven tech (at scale)
  • environmental costs
  • traditional money and government resistence

and then fundamental philosophical questions

  • lack of central control means community control but is the community always the best controller?
  • you don't rely on authorities, instead relying on normal people, but can normal people be relied on?
  • is "mob" rule / sentiment better?
and market inherent problems such as mania, over bought/sold, fear/panic, excessive exuberance etc

and then questions remain to how crypto would survive heavy regulation, as that is a risk and that is what IMO they will eventually want to do.

-

these are all things which we could discuss more on here.

maybe we need a crypto tech thread.
 
FaTaL

FaTaL

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TENET said:
i don't have a grand theory for what is going on now.

in general crypto isn't a well normal functioning market for a number of reasons so IMO it is going to be volatile, for quite a while at least.

i don't think that the version of crypto/blockchain that works is going to look like what we have now.

i think privacy coins will gain more attention, as crypto tracking becomes more sophisticated, and they will probably be heavily regulated. just like how the USA used to ban strong encryption exports. Export of cryptography from the United States - Wikipedia

i think that no matter what, there will be a market for independent public blockchains and crypto.

issues

  • new tech
  • unregulated
  • fast moving
  • sentiment driven
  • unclear and conflicting aims.
  • high number of untrained entrants who do not understand what they are dealing with
  • dominated by BTC
  • social media
  • scams
  • operates 24/7 - no forced closure
  • asymmetric power - e.g. musk, cacafee ...
  • rudimentary tools and products

and longer term problems

  • unproven tech (at scale)
  • environmental costs
  • traditional money and government resistence

and then fundamental philosophical questions

  • lack of central control means community control but is the community always the best controller?
  • you don't rely on authorities, instead relying on normal people, but can normal people be relied on?
  • is "mob" rule / sentiment better?
and market inherent problems such as mania, over bought/sold, fear/panic, excessive exuberance etc

and then questions remain to how crypto would survive heavy regulation, as that is a risk and that is what IMO they will eventually want to do.

-

these are all things which we could discuss more on here.

maybe we need a crypto tech thread.
Click to expand...
I don’t see anyway of avoiding regulation, you can’t have one coin determine the whole fate of crypto every time it dives. Whose doing it though? Would this go through the senate? I have no idea but I hope not because it won’t get done then.
Treasury?
 
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FaTaL said:
I don’t see anyway of avoiding regulation, you can’t have one coin determine the whole fate of crypto every time it dives. Whose doing it though? Would this go through the senate? I have no idea but I hope not because it won’t get done then.
Treasury?
Click to expand...

don't know. it's has to be international to have the desired effect - like KYC. but even then you will have some countries which remain outside of it. more so than with traditional money, non-compliant authorities will still be effective pathways for digital money.

people talk about the "flippening" but I think the "separatening" is also important. the point at when a crypto separates and decouples from BTC behaviour.

regulation will come eventually, and sooner if crypto causes damage in the USA/West or if it becomes a serious threat to paper money.

the west is hung by its own petard here. they talk about "free markets" while rigging traditional financial markets away from the common man. then a "free market" currency gets invented and they rush in to regulate it, to bring it under state control and manipulation. BTC regulation done in the wrong way could backfire by increasing focus on their role in supporting vested and controlling interests in society, to an increasingly disenfranchised, skeptical and aware public.

LameHelpfulHermitcrab.webp


if (for example) they just shut down crypto, people might start looking closer at out own money and monetary system. telegram hoards, the thousands of youtube channels, #ShibArmy, and all the rest would need a new focus anyway. can you imagine the pressure those massed ranks could put on our leaders. it's a young persons game but 20 years later it would be the only game, if they allowed it to happen.

at the root of all of this lies the internet. TPTB no longer have a monopoly on the messaging :wow:
 
Xyrax

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Hiphoplives4eva said:
You see it too. That ignornat nikka shyt.

Black folks are conditioned to hate on other black folk. Its sad
Click to expand...


I think crypto is kind of unique in that regard.

Consider that it started at a fraction of a penny when most people first heard about it. Its going to be hard for people to reconcile the missed opportunity.

There were once free bitcoin faucet websites that would give you 5 free bitcoin a day.

Proof:


You could legit visit that website back then once a day and cop $175,000 a day for absolute free because bitcoin is now 35k...

XEhetdH.png


Just stick them coins in a paper wallet address and sit on it. By the end of the first 7 days you would be a millionaire.

I think we gotta remember this when we see people hating. People have lowkey been aware of BTC all these years but for whatever reason they doubt it. And in slow motion it just keeps growing continuously making these people regret that they didn't jump on board and further making them think its too late.

When this shyt crosses a million per one day, nikkas gonna be SICK. I already feel a little off looking at that shyt like... "5 free coins a day :sadcam:"
 
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Xyrax said:
When this shyt crosses a million per one day, nikkas gonna be SICK. I already feel a little off looking at that shyt like... "5 free coins a day :sadcam:"
Click to expand...

sounds like JW's, Jonestown, name-any-cult breh.

"they hate us" and "they will regret it <at some unspecified time in the future> when some <improbable thing happens> but I will bask in the "win" now as if that improbable-future-thing has already happened"

JW: "they hate us. they will see when god returns and they realise they were wrong."

Jonestown: "they hate us. we need to go off in the jungle."

if they really thought you were right they would buy their own BTC.

if people thought JW's or Jonestown were right they would join in.

In reality most people are warning of the excesses ... and there are very few "haters"

There might be more if crypto-brehs were all stunting in lambos :myman: , but not yet.
 
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ReasonableMatic

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satireprod said:
Its early Monday morning but 90 percent of the top 30 on CMC is in the green
Click to expand...
@mannyrs13 A miracle right? :sas1:
ReasonableMatic said:
ReasonableMatic said:
I expect the next couple days to be beautiful, BTC will lead the way :sas1:
BC24-E563-36-E1-46-F2-976-F-33-C629-ECAA66.jpg
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mannyrs13 said:
Charts aren't gonna help. What we need is a miracle. :mjcry:
Click to expand...
I’m documenting this prediction for myself first and foremost.

I’m curious to see what happens, I don’t know like everybody else


Day 1, so far so good
B606029-C-845-D-4-BB6-8882-AE26-A049-E3-BA.jpg
Click to expand...
 
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mannyrs13

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ReasonableMatic said:
@mannyrs13 A miracle right? :sas1:
Click to expand...
Speaking of miracles :jawalrus:

https://www.kxan.com/news/business/mormon-church-cashes-in-on-gamestop-and-tesla-stock-craze/

If Jesus has diamond hands, then so can we! No excuses.

Now for some seriousness. This is a crucial day and week for us. Looking at the Ethereum chart and its still within the ichimoku cloud. I noticed yesterdays candle looked kind of like a bullish reversal one. I first noticed it on Atom since the bottom wick was longer with a short body. Finished in the red but buyers were able to push the price back closer to the open by end of the day. Link had a similar candle and so did ETH. Gotta check BTC but I imagine that one and a lot of others did as well. A green candle on the daily today on lots of coins may signal a reversal back up. Its Monday and institutions are open and coins are real cheap cuz of all the weekend panic sellers. Momentum trending up will be perfect for the bounce back. I'd call 2050 area a decent support line for ETH. The ichimoku cloud doesn't look that powerful far as resistance goes and the 20 and 100 day moving averages are still far apart. A green day today and hopefully one tomorrow, can confirm the trend reversal. I feel safer on ETH than BTC since BTC already way below the ichimoku cloud and the moving averages crossed and been sinking rapidly. I think it bounces back towards ATH quicker. Prediction: ETH touches 4500 by Labor Day. Bold Prediction: by end of July. Was gonna say July 4th but less than a month and a half may be too quick. But who knows what may happen. I may go to sleep and wake up around noon to see the market dropped another 10%. Thats the miracle I want, for me to be able to sleep without having all the paper handers dumping their coins soon as they wake up in the morning. :francis:
 
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