BITCOIN

venmos1

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Seeing and reading people say that owning just .01 bitcoin will make you rich in 10 or so years. From what in got from it was mostly due to the limited amount available. At one point or another it will all be purchased and held. Not a bad little nest egg for my kids down the road.
 

svtfocus2cobra

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Seeing and reading people say that owning just .01 bitcoin will make you rich in 10 or so years. From what in got from it was mostly due to the limited amount available. At one point or another it will all be purchased and held. Not a bad little nest egg for my kids down the road.

I was looking at that too. I may do that just to see if it really happens. Are they claiming that any piece of BTC will be valuable no matter what, just because of scarcity? That doesn't calculate for me because I assume it is always going to have a set value so how could that small amount be worth more than its market value?
 

quad

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Seeing and reading people say that owning just .01 bitcoin will make you rich in 10 or so years. From what in got from it was mostly due to the limited amount available. At one point or another it will all be purchased and held. Not a bad little nest egg for my kids down the road.
I don't think that will be enough. If Bitcoin goes to $1 million then .01 will be $10,000. If it goes to $10 million then it would equal $100,000. 10 years from now $100,000 will not go very far.

I think the world is too big for only one cryptocurrency to reign supreme. Bitcoin can hardly manage 7 transactions per second (but not for long). That blockchain is going to get bigger and bigger over time as more and more transactions are recorded. It will become very bloated. I think it will be a store of value but hardly used for daily or even weekly transactions. The Bitcoin holdings could be used as collateral though for loans as Michael Saylor envisions.

I think the DEFI market is also too big for only Ethereum to dominate. I think it will be split between Ethereum, Cardano, Polkadot and perhaps a few others. Their blockchains will also become bloated over time. I see Ethereum become another store of value like Bitcoin. Not quite as valuable but not too far behind. Ethereum is set to become deflationary with EIP 1559. So the supply might actually shrink as more ETH is burned than minted.

Ethereum is soon going to scale 100x + also. Transaction speed will increase from 22 per second to between 1,000 and 4,000 according to Vitalik. This will be made possible by a layer 2 solution called Optimistic that will be coded inside Ethereum. Then in July EIP 1559 will be implemented to further reduce gas fees and make Ethereum deflationary. But Optimistic will be the solution that really brings down gas fees. As an Ethereum miner I will be getting less ETH after the EIP 1559 upgrade but this could be offset if the price of Ethereum shoots way up.

In 2022 or 2023 the final transition will be made to Ethereum 2.0. Mining will then be phased out and proof of stake will be the mechanism that secures the network 100%. Similar to Cardano. Transaction speed will then improve to 100,000 per second or even 1 million per second. Note that VISA can only do 1,700 transactions per second. The user experience will greatly improve for Ethereum.

No, Visa Doesn’t Handle 24,000 TPS and Neither Does Your Pet Blockchain – Blockchain Bitcoin News

Not to be outdone, Bitcoin has the Lightning Network (also a layer 2 payment protocol) which promises to improve network speed from 7 TPS (transactions per second) to several million per second. This would really make sending cryptos to other people as fast and convenient as emails.

Lightning Network
 
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venmos1

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I was looking at that too. I may do that just to see if it really happens. Are they claiming that any piece of BTC will be valuable no matter what, just because of scarcity? That doesn't calculate for me because I assume it is always going to have a set value so how could that small amount be worth more than its market value?

i almost got the feeling that it was more about being able have some, be one of those fortunate people who own some. I agree with @quad in that .01 really isnt enough, especially considering what the dollar will be like in the future. IMO if i take that $600 for each of my children and put it into cardano, eth, or maybe xrp, and take profits when they run and rebuy when they retract and then hold.....in 5 years ill be waaayy ahead of buying .01 bitcoin and holding it. I feel that crypto is here to stay and while nothing is guaranteed, investing in eth and ada (btc too) is as close to it as you can get. these are legit companies situated for future growth and success. And investing at even current prices of eth and ada are great great returns. Just my opinion and this is my strategy for the most part. I dont need to own bitcoin to say i own bitcoin. im not looking to belong to any special club. i am however looking to maximize my gains and grow my bank account as fast and as big as possible and these are amazing opportunities to do so. it doesnt happen to hurt that the democraps want to give me a crapload of money to help facilitate my growth.
 

mysticsvt

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i almost got the feeling that it was more about being able have some, be one of those fortunate people who own some. I agree with @quad in that .01 really isnt enough, especially considering what the dollar will be like in the future. IMO if i take that $600 for each of my children and put it into cardano, eth, or maybe xrp, and take profits when they run and rebuy when they retract and then hold.....in 5 years ill be waaayy ahead of buying .01 bitcoin and holding it. I feel that crypto is here to stay and while nothing is guaranteed, investing in eth and ada (btc too) is as close to it as you can get. these are legit companies situated for future growth and success. And investing at even current prices of eth and ada are great great returns. Just my opinion and this is my strategy for the most part. I dont need to own bitcoin to say i own bitcoin. im not looking to belong to any special club. i am however looking to maximize my gains and grow my bank account as fast and as big as possible and these are amazing opportunities to do so. it doesnt happen to hurt that the democraps want to give me a crapload of money to help facilitate my growth.
As ignorant as I am, I agree with this. Same amount of money invest in ETH or ADA will net you a higher return is say 20 years. Take alot of money to make money on Bitcoin. With that said I will still continue to my 25.00 a week in BTC and 25.00 a week in ETH and throw whatever extra I want to other coins.
 

venmos1

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As ignorant as I am, I agree with this. Same amount of money invest in ETH or ADA will net you a higher return is say 20 years. Take alot of money to make money on Bitcoin. With that said I will still continue to my 25.00 a week in BTC and 25.00 a week in ETH and throw whatever extra I want to other coins.
so from what you know and hear, this bullrun will go until august or whenever this fall, then retract possibly 60 to 90% and then another bullrun in around 4 years? do i understand that right? so invest as much as possible and sell at some point, buy more and then hold?
 

mysticsvt

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so from what you know and hear, this bullrun will go until august or whenever this fall, then retract possibly 60 to 90% and then another bullrun in around 4 years? do i understand that right? so invest as much as possible and sell at some point, buy more and then hold?
If you look at BTC's history it rises and falls and repeats and grows. I'd say look at it's charts and make a guess on the next peak. Sell and then reinvest everything you have when you feel it reaches bottom. Rinse and repeat that and you might do well. But I'm still new in the game....soooooo there's that.
 

q6543

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If we go parabolic over the next 2 maybe 3 weeks we can trigger a PI cycle crossover.

Good luck to everyone going for the top tick.

Futures market really looks to be solid buy totals to 82k ish.. and sells to 92k ish.

I'm looking to lock in gains at the mid 70s
 

quad

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If we go parabolic over the next 2 maybe 3 weeks we can trigger a PI cycle crossover.

Good luck to everyone going for the top tick.

Futures market really looks to be solid buy totals to 82k ish.. and sells to 92k ish.

I'm looking to lock in gains at the mid 70s
Can you please post a link where we can see the future contracts of 82k 92k? Also what does PI stand for?
 

quad

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so from what you know and hear, this bullrun will go until august or whenever this fall, then retract possibly 60 to 90% and then another bullrun in around 4 years? do i understand that right? so invest as much as possible and sell at some point, buy more and then hold?

If you look at BTC's history it rises and falls and repeats and grows. I'd say look at it's charts and make a guess on the next peak. Sell and then reinvest everything you have when you feel it reaches bottom. Rinse and repeat that and you might do well. But I'm still new in the game....soooooo there's that.

With the constant printing of money maybe there is no end to the bull run? Who knows. The reason cryptos are pumping now is because of the stimulus that was approved. We'll see if there is another one in the pipeline.

But if the stock market saw a crash or major correction I think it will trigger a selloff in the crypto market as well.
 

q6543

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Screenshot_20210313-233513.jpg Screenshot_20210313-233533.jpg theres a snap ITM and OTM it's a pretty solid bookend. I use TD ameritrade.

Alsi the pi cycle indicator has top ticked the last few bull markets. Google it.
 

q6543

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1 more thing...IF we get the ETF this year, and its allowed to settle in Bitcoin "OR CASH EQUIVALENCE"

The 21 million scarcity is dead. And i wouldn't put it past them.
Not to be FUD. Just something to read for in future prospectus.
 

98SVTContour98

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1 more thing...IF we get the ETF this year, and its allowed to settle in Bitcoin "OR CASH EQUIVALENCE"

The 21 million scarcity is dead. And i wouldn't put it past them.
Not to be FUD. Just something to read for in future prospectus.

Let's say ETF happens....what does the future of Bitcoin look like in your view? I'd love to hear it.
 

q6543

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If the funds must hold and settle in bitcoin. Then price discovery remains "natural" let's say.

If they are allowed to settle in cash equivalents. Then you open up the can of worms of "paper" bitcoin, which makes it more susceptible to machinations, like the gold and silver markets.
 

mysticsvt

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Bought 74,423.058 coins of VTHO several months ago at .004 each. Pumping decently right now and just hit .01. Ever hits anything worth a damn I’m good...haha
 
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