It was bloody well a couple of days ago. Midas touch.
Social 📈 Crypto
- Thread starter miket12
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It can fluctuate so quickly up and down you never know if you are winning or not. Or should dump it or not.
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let me tell you the 4 crypto I'm investing in that are likely to go up at least 10x......
tajhay
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Theres lots of guides on good strategies on the likes of reddit in the cryptocurrencies sub. (Just ignore all the noise on particular shitcoins that ppl are trying to dump).
I get it. Ppl go "i can only afford .00564616 btc, but i can get 5m of x....and if that x shitcoin goes up i can afford more btc etc..." its an endless cycle.
Facts 100%Quite a few factors for Bitcoin atleast.
- decentralised. not controlled/manipulated by a single entity. no single point of failure.
- security. there is full transparency of transactions on the public ledger. POW and validation nodes ensures that someone cannot fake the transactions.
- no need for payment processors.
- global accessibility
- hedge against inflation
- institutional adoption. US is rumoured to be moving create a strategic bitcoin reserve. If that eventuates, expect other countries to follow suit.
Its supply and demand. Most btc holders arent selling. roughly 3-6m of the btc you see mentioned as part of total supply is lost forever (early miners hard drives, ledgers, lost pass phrases etc). ETFs paved the way for some of the gains you have seen in the past year. More and more institutions are joining in.
The bitcoin depth charts you currently see are based on traders timing it to try to sell and come back in at a lower price by way of making a few dollars. basically any marketplace.
Lets forget about Bitcoin and Ethereum for a second or any cryptocurrency. Blockchain technology will be fairly mainstream in the coming years. It may not be visible right now in a lot of cases, buy theres many industries that already utilise it. SAP which is the largest enterprise software in the world (95% of top 100 companies in the world use SAP) has been utilising blockchain tech since 2018. That and AI (also already implemented) are big growth areas in the future.
bricks and mortar type businesses wont see or hold much value in blockchain tech. But upstream its a totally different story.
p.s im not an advocate for all cyrpto. 98% are junk that i personally do not touch at all. Ive seen many friends who went in on shitcoins knowing they are shit, and got burnt. Some have reentered the market over the years vowing to only get a slice of the top tier coins but greed is a difficult thing to contain and some have fallen into the trap time and time again
Personally im all for people to taking a punt, but you need to have atleast 80% in BTC, ETH/SOL. DCA is a good strategy to get started. DO NOT trust youtubers/social media influencers. PLEASE do NOT take recommendations from a video you saw about a coin going 10x etc. And most importantly, do not ever put in more than you can afford to lose.
As for what will it take for example for BTC to double? The simplest answer i can give is 4T market cap
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I have had my Kiwisaver with Koura for a while now - been doing pretty good all things considered. They only let you have a 10% allocation of the bitcoin etf and they sell down some of it if it gets a decent chunk over the threshold and reallocate to the rest of your portfolio. It's how I like to expose myself to crypto now haha. Made quite a bit in the last bull run but gambled it away on nftsInteresting that at least one company is offering a crypto alternative for KiwiSaver. Not that I'd risk it... especially if KS is going to be your main forming of retirement saving.
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NFTS is how you waste your money.... I used to lose money bribing council officers to get consent issued.... then the corrupt ones got made redundant and the ones left are too honest.I have had my Kiwisaver with Koura for a while now - been doing pretty good all things considered. They only let you have a 10% allocation of the bitcoin etf and they sell down some of it if it gets a decent chunk over the threshold and reallocate to the rest of your portfolio. It's how I like to expose myself to crypto now haha. Made quite a bit in the last bull run but gambled it away on nfts
Only joking.... I've never bribed anyone but, when I was working back in the day for one of NZ's largest residential builders, I did drop of a bottle of whiskey into the locker room for a building inspector who made such our consents went through faster than normal. Don't know how accounts put that expense through... considering it was a "dry" office.
I subscribe to the Australia whiskey club and I dont really drink. Certainly heaps grease the wheels!
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NFTs were a wild ride haha. Was a fun experience at the time but definitely won’t be going back
As someone who will stick clear of crypto, this point is a solid one that gives the coin respectability.
If enough massive investors control the value, where it becomes to big for them to let it fail, they can artificially prevent it from ever crashing too low (like it should when trying to find its real value.)
THAT I guess, is what underpins its value.
You really need to trust those big guns though, as your investment is in their hands.
tajhay
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Yeah i can understand how some traditionalists would think that is what gives btc respectability. This is a view that is very different to blockchain purists. On one hand you have institutional adoption which will drive up prices (simple economics of supply v demand). On the other decentralisation of btc is its super power. No other asset class in history has had that an asset so decentralised. By having an entity such as the USA alone hold 1m (moted as 200k per year for next 5) of BTC (roughly 5%) has centralisation concerns. Its still very small in the whole scheme of things so even IF it does eventuate, it wont pose geopolitical issues in how USA tries to regulate cryptocurrency. It would seem that USA would be very pro crypto if all these pan out, but that poses a whole lot of other risks.
Different states are in varying phases themselves (Pennsylvania wants to hold around 10% of its state funds in btc). Bhutan had been mining since 2019 as a govt initiative - they hold around 12k btc. El Salvador has around 6k. Im very much in favour of poor countries such as those getting in on the act when they did. Then you have companies - Telsa has around $1B in bitcoin in its holdings (not inc musk, but Tesla alone). MicroStrategy has 40B worth. Individual holders have very little in comparison. I think i read that top 1% of btc holders hold .1 btc or more.
It is a different world out there. Imagine if there was a slight movement in Satoshi Nakamoto's wallet and he decided to sell? lol A lot of trust and whole premise of btc would be instantly eroded.
Just remember, crypto is still in its infancy stage - it still has not hit mainstream yet. 13 years ago a btc was worth 30cents. 8 years ago it was $800. 4 years ago it was 10k. a year ago it was 43k. its around 100k now. Make of that info as you will.
edit - all monetary amounts spoken about are in USD
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