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Discussion in 'Road Side Pub' started by Weather Man, May 20, 2020.

  1. quad

    quad Well-Known Member Established Member

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    ETH will be fine in the long run I think. ETH 2.0 has great potential. But putting some into ADA as a hedge is a good idea.

    I am also mostly ETH, partly because I mine it and just hold. Day trading has tax implications.
     
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  2. quad

    quad Well-Known Member Established Member

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    Article is a few weeks old but still relevant I think.

    ETH 'Insanely Cheap,' DeFi To Rally, BTC Dominance to Drop - Pantera Capital CIO

    Even after its recent strong rally, the second-largest cryptoasset by market capitalization, ethereum (ETH) is "insanely cheap" and can still rally 5-10x, while bitcoin (BTC) dominance willl go down due to ETH and DeFi assets, according to Joey Krug, Co-chief Investment Officer (CIO) at US-based major crypto investment company Pantera Capital.

    "It’s an insanely cheap asset compared to anything else in the public markets with that kind of growth relative to its revenue multiple. It’s not entirely crazy to see ethereum being able to 5–10x from here, especially when compared to traditional equities markets," he said in a newsletter today.

    Krug argued that ETH still trades at a price-to-sales (P/S) ratio of 40x, "which will become earnings for ETH stakers when value switches to Ethereum 2.0."

    Pantera has positioned the Pantera Liquid Token Fund around the opportunities surrounding DeFi and the Ethereum ecosystem and this fund was up 98% in January versus BTC up 15%, per the CIO.

    "We think that similar to the last cycle, Bitcoin dominance (BTC’s percent of overall market cap in the space) will eventually go down into the forties again. In our view, the primary beneficiaries are likely to be Ethereum and Ethereum based decentralized finance assets, as well as eventually DeFi assets on other chains like Polkadot later in the year," Krug said.

    Today, BTC dominance hovers around 60%. It was in a range of 40% - 50% in 2017-2018.

    The CIO said that DeFi assets are "only *4%* of the total cryptocurrency market cap."

    "By the end of this cycle, we think they could potentially be 20%, or a relative outperformance of 5x," he added.

    Also, he estimates that as the market gains confidence that DeFi is here to stay and isn’t a fad, multiples will go up too, and things will begin to be valued by price/revenue/growth in DeFi.

    "I think multiples could expand 4–5x across the board from here. As the protocols get more liquidity and their valuations go up, they also become more useful," Krug said, adding that Pantera believes that DeFi "is the best opportunity in the crypto space since Bitcoin and Ether themselves."

    At the time of writing (10:43 UTC), ETH trades at USD 1,769 and is down by 1% in a day, trimming its weekly gains to less than 7%. It's up by 690% in a year. At the same time, BTC trades at USD 45,355 and is down by 3% today, but is still up by 21% in a week. In a year, the price jumped by 359%.
     
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  3. venmos1

    venmos1 Well-Known Member Established Member

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    A while back I bought $100 worth of ada. Around 307 coins. I also put $200 into bitcoin. The bitcoin grew to around $281. I now have 581 coins worth $802 currently. I wasn't really planning on selling any ada, just buy and hold. But the more I think about it, selling and rebuying may help build my counts. For example if I sold now and took that $800 and bought ada at 1.3 I could buy 615 coins. So around 30 more.

    On the other hand, not sure this is enough gain to wash any fees or fluctuations that could occur and eat profits. Or sell and wait for ada to drop below $1.30 (that is a risk too)....thoughts??
     
  4. q6543

    q6543 Well-Known Member Established Member

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    Why aren't you just staking it if you want to earn more?
    Isn't that the point of the P.O.S. system.
     
  5. MG0h3

    MG0h3 Well-Known Member Established Member

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    Bitcoin is almost volatile enough for me to start day trading it.


    Sent from my iPhone using svtperformance.com
     
  6. venmos1

    venmos1 Well-Known Member Established Member

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    Tbh I don't know what the best thing would be. At this point I like having my money at my finger tips. If something required me to sell and take money out I could do that. From what I know about staking, I would have to stake for a period of time.

    My intentions from the beginning were to set it and forget it. Add in and buy more with time, but seeing these swings makes me think whether it would be smarter to sell and buy more.
     
  7. 98SVTContour98

    98SVTContour98 Active Member Established Member

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    Ev4RSp5UYAcMCel?format=jpg&name=900x900.jpg
     
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  8. Kevins89notch

    Kevins89notch Well-Known Member Established Member

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    A while back I read about (might have even commented here in fact LOL), that someone in central Africa, they use cell phone minutes as currency. Say something like $5 US gets you 60 minutes. There's no ATMS in central Africa, but you can text minutes to a friend, so that's how people pay for goats and such. 1 goat... send me 240 minutes and we have a deal. No fees, no scamming, just direct peer to peer.

    So yeah, they've been using a non paper currency for a bit, thus no surprise it's easy to get them into BTC.
     
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  9. svtfocus2cobra

    svtfocus2cobra Opprimere, Velocitas, Violentia Operandi Established Member

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    Things finally are turning around and clawing their way back in regards to ETH, and Doge is on a decent run right now.
     
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  10. quad

    quad Well-Known Member Established Member

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    Lol that's pretty cool!
     
  11. quad

    quad Well-Known Member Established Member

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    I am bullish on ETH and Doge. Time will tell. Hopefully these updates planned for Ethereum will go smoothly.
     
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  12. venmos1

    venmos1 Well-Known Member Established Member

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    have you paid much attention to xrp? think it will become anything after all this legal bs?
     
  13. mysticsvt

    mysticsvt southernmustangandford Premium Member Established Member

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    Mines doubled since I bought it, not selling. I like risking it on quirky things.
     
  14. quad

    quad Well-Known Member Established Member

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    I have been keeping an eye on it. I still have XRP which I bought back in 2018. I transferred it to my binance.us account but can't do any trading with it. I can send it to another wallet if I wanted to or convert it with a service like Changelly or Shapeshift. I've used Shapeshift in the past. But for now I am just holding it.

    ShapeShift | Home

    XRP 's ATH was over $3 and it is now obviously in the gutter. The SEC is supposed to look out for investors but their actions against Ripple hurt investors.

    Here is an interesting development:

    Ripple's executive chairman moves to dismiss SEC lawsuit

    Chris Larsen — Ripple’s executive chairman — has joined company CEO Brad Garlinghouse in moving to dismiss the securities violation case filed by the U.S. Securities and Exchange Commission.

    In a court letter filed on Wednesday, Larsen’s attorneys provided four arguments detailing the reasons why the case against the Ripple executive should be struck.

    According to the letter, the SEC cannot substantiate its claims that Larsen “knowingly or recklessly provided substantial assistance” towards the violation of Section 5 of the Securities Act of 1933.

    Arguing further, the letter stated that in 2015, when Larsen bore the designation of Ripple CEO, both the Justice Department and the Treasury Department’s Finance Crimes Enforcement Network classified XRP as a currency.

    Building on this line of argument, Larsen’s legal team also declared that the Ripple executive cannot be said to have taken actions to ensure the success of XRP sales.

    In its fourth line of argument, the letter stated that the statute of limitations has run out on any alleged involvement of Larsen in the sale of XRP since 2013, adding:

    “Because the SEC has alleged that the sales of XRP over a multi-year period constituted only one offer, which began in 2013, the statute of limitations began to run in 2013 and expired in 2018.”

    In a separate letter also filed on Wednesday, Garlinghouse’s attorney Matthew C. Solomon offered two arguments in favor of dismissing the case against the Ripple CEO.

    Echoing Larsen’s attorneys, Solomon wrote to Judge Analisa Torres of the U.S. District Court for the Southern District of New York stating that FinCEN has previously classified XRP as a virtual currency.

    Garlinghouse’s legal representative also panned the SEC’s case against the Ripple CEO for personally violating securities regulations. According to Solomon, Garlinghouse’s activities concerning the sale of XRP tokens were simply part of this job as head of the company.

    As previously reported by Cointelegraph, the SEC filed an amended complaint with the court back in February, accusing Ripple executives of misleading investors and manipulating the price of the XRP “coin.”

    Both the SEC and Ripple have previously stated that a pre-trial settlement was not on the agenda.
     
  15. quad

    quad Well-Known Member Established Member

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    Did you buy it on Coinbase?
     
  16. venmos1

    venmos1 Well-Known Member Established Member

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    I dragged my feet back when it was more readily available. I have kraken and webull accounts and cannot buy it on either. And I really don't want to open another. I was thinking it would be like ada where I could get it sub $.50 and ride it to 4,5 etc.
     
  17. mysticsvt

    mysticsvt southernmustangandford Premium Member Established Member

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    Yeah I did, 100 bucks worth....98.something after fees.
     
  18. quad

    quad Well-Known Member Established Member

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    Ok. The way I bought XRP was by converting Ethereum or Litecoin (can't remember) to XRP on Shapeshift. What Shapeshift did is transfer the cryptos out of my Coinbase account into my Binance Ripple account. Pretty amazing that you can do that. Because back in 2018 it was not possible to buy XRP on Coinbase directly. But you could swap tokens on Shapeshift. Shapeshift is basically just a middle man between exchanges or wallets. At the ATH price my XRP was worth over $15,000. I should have sold it back then but like an idiot hodled it all the way down to the bottom. I did get it though when it was 25 cents so I am still up even after the SEC lawsuit.
     
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  19. quad

    quad Well-Known Member Established Member

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  20. 98SVTContour98

    98SVTContour98 Active Member Established Member

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    EwJKVJFVEAAUoG4?format=jpg&name=4096x4096.jpg
     
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