Cryptos

cabbles said:

Went into some shop in Greenwich market today and they accepted Bitcoin as payment.  I know the echo chamber in Miami is going on currently, but I’m reading more and more about institutions throwing their hat in the ring.  Norton security software is allowing you to passively mine Eth, taking 15% of whatever you mine and is put into the wallet they create for you.  Ignoring their terms, it’s another example of a large company throwing some sort of skin in the game.  

What would be the benefit of paying for items using bitcoin?

cabbles said:

PopIcon said:

cabbles said:

Went into some shop in Greenwich market today and they accepted Bitcoin as payment.  I know the echo chamber in Miami is going on currently, but I’m reading more and more about institutions throwing their hat in the ring.  Norton security software is allowing you to passively mine Eth, taking 15% of whatever you mine and is put into the wallet they create for you.  Ignoring their terms, it’s another example of a large company throwing some sort of skin in the game.  

What would be the benefit of paying for items using bitcoin?

I wouldn’t equate a benefit to it at this point, just pointing out that a shop was willing to accept it as currency.  I know some companies have stated their willing to accept it as payment, but it was the first time I’d seen it as an accepted form of payment in a normal shop

Strange that a shop would accept Bitcoin, all at a point when the crypto market is so chaotic. When it gets to the end of the month when staff get paid they could be way up or down. 

Saw the Winklevoss Twins talking at the btc convention, saying they are going to hodl for 10 years by which time they expect btc to be worth 500k a coin. If you look up Tim Dillon on youtube, he was interviewing them at the weekend and they explain the logic. 

ADA is still undervalued long term, whether it gets that high in this cycle or the next

reserves said:

Does anyone else feel that the whole of Crypto is being questioned currently?

If the big 2 are not sustainable (not saying they are not) then how will the whole of the alt coin market be sustainable / justifiable?

I doubt Bitcoin will ever change to make it more environmentally friendly but at the same time, it has been blown out of proportion. It's bad but not at the levels that have been reported. Despite what I'm going to say, BTC will likely remain king.

ETH has some major upgrades coming that should help. When that might be, who knows. They are notorious for development delays. Current estimates for them making use of sharding is next year but given their history, can't see it myself.

As the article I posted above mentions, ZIL uses less than 0.01% of the energy ETH does for mining. Transactions & fees are quicker and lower. As the space matures, a lot of those that are first to market will eventually disappear unless they undergo massive development changes in the way they work. When it comes to technology, in the end, the best will eventually come out on top and there are plenty of better alternatives out there to ETH.

Think it might be being pushed down again

Rob7Lee said:

I'm stupidly back in at 35.5k - lets watch it plummet! This time have set a small profit target of 3% so out at around 36.5k, hopefully soon!

So allowing for costs to buy and again to sell, to make 3% 'profit' after costs, you'd actually need BTC to gain 10%, correct?

The Prince-e-Paul said:

Rob7Lee said:

I'm stupidly back in at 35.5k - lets watch it plummet! This time have set a small profit target of 3% so out at around 36.5k, hopefully soon!

So allowing for costs to buy and again to sell, to make 3% 'profit' after costs, you'd actually need BTC to gain 10%, correct?

No, no costs.

Rob7Lee said:

The Prince-e-Paul said:

Rob7Lee said:

I'm stupidly back in at 35.5k - lets watch it plummet! This time have set a small profit target of 3% so out at around 36.5k, hopefully soon!

So allowing for costs to buy and again to sell, to make 3% 'profit' after costs, you'd actually need BTC to gain 10%, correct?

No, no costs.

Ahh. Which trading platform do you use. I'm using Coinbase which charges around 4% to buy and 3% to sell, thus 7% is needed to break even. 

kentaddick said:

The Prince-e-Paul said:

Rob7Lee said:

The Prince-e-Paul said:

Rob7Lee said:

I'm stupidly back in at 35.5k - lets watch it plummet! This time have set a small profit target of 3% so out at around 36.5k, hopefully soon!

So allowing for costs to buy and again to sell, to make 3% 'profit' after costs, you'd actually need BTC to gain 10%, correct?

No, no costs.

Ahh. Which trading platform do you use. I'm using Coinbase which charges around 4% to buy and 3% to sell, thus 7% is needed to break even. 

Whoa really? I haven’t used coinbase in forever, use something like Binance or FTX. 

Yeah I longed of coinbase (even though I liked the UI) because these fees were pretty grim. 

Binance is clunky, and it's not exactly super cheap. But it's a little better 

kentaddick said:

FishCostaFortune said:

kentaddick said:

The Prince-e-Paul said:

Rob7Lee said:

The Prince-e-Paul said:

Rob7Lee said:

I'm stupidly back in at 35.5k - lets watch it plummet! This time have set a small profit target of 3% so out at around 36.5k, hopefully soon!

So allowing for costs to buy and again to sell, to make 3% 'profit' after costs, you'd actually need BTC to gain 10%, correct?

No, no costs.

Ahh. Which trading platform do you use. I'm using Coinbase which charges around 4% to buy and 3% to sell, thus 7% is needed to break even. 

Whoa really? I haven’t used coinbase in forever, use something like Binance or FTX. 

Yeah I longed of coinbase (even though I liked the UI) because these fees were pretty grim. 

Binance is clunky, and it's not exactly super cheap. But it's a little better 

Ftx’s UI is much better imo. 

I've never actually used it will have to check it out.

BigRedEvil said:

How far do we think Bitcoin will drop? I've seen 29k mentioned 

Possibly lower.  I bought in at $49k so I am nursing some losses, but I will not be selling, even if it goes down to $20k.  There's a reason all these South American countries are talking about it having a role as part of their currency, and a large part of that is so they can't be manipulated and controlled by the U.S and the dollar.  It will take time, crypto will come under further attempts to disrupt it, but if you buy and hold, then I truly believe you will make money off of any investment.