OT any of you investing in Cryptocurrencies?

[Garbagelo]

If you are in it for long, I don't get the worry for BTC and ETH. Sure there are risks. But there's also risk in holding gold/silver or cash. All about diversification, and proper allocation to manage your risks.

As far as alt coins, yeah, I'm getting some penny stock vibes. I wonder where this momentum will go. It was Penny Stocks > SPACs > Meme Stocks > Alt Coins. Now what?

I'm still a believer that commodities like copper, lumber, and steel will shoot up more than they already have. But I'm not sure if the hype train will ever chase "boomer stocks".

Take it from someone who's been in crypto for nearly a decade. Basically alts exist only to swing trade and increase your stack of BTC & ETH ultimately. Not to say there aren't interesting projects, there are, but BTC & ETH are the only two that will really matter long term. They are the only two major innovations that have ever happened in this space. If you look at the whole market who'll notice that 90+% is either a fork or clone of BTC with just a few lines of code changed or an ERC-20 token built on top of Ethereum. The victors have already been determined, so your sentiments are right.

correct

the only 2 coins I have any serious positions on

everything else is a crapshoot that can do a nice pump sometimes

Dot just happens to be the least smelly crapshoot in my mind

[Michael Jordan]

I just bought DOT today on Kucoin and staked it on their Pool-X platform which proposes a 15% annual return (10% in DOT and 5% in POL).

Anyone else staking DOT or staking in general?

[Stannis]

I just bought DOT today on Kucoin and staked it on their Pool-X platform which proposes a 15% annual return (10% in DOT and 5% in POL).

Anyone else staking DOT or staking in general?

I'm staking for 12 percent on Kraken

You can buy on Kraken now with USD via ACH bank transfers.

[Garbagelo]

Crypto market is dropping HARD right now

Yeah, China is cracking down hard

https://fortune.com/2021/05/21/china-ban-bitcoin-price-bubble-crypto/

Not sure what their game plan is here. I know they are pushing their own virtual currency. Maybe they are trying to kill bitcoin and get everyone to use China's "bitcoin"?

I've been looking through all the news and chinese sources about this situation and it seems they are really going to be shutting down many miners soon. Since most of trading done in china is thru OTC and international exchanges anyway, I doubt it will disrupt this portion of it.

However, this is still quite bearish news because miners will be forced into selling until they can cover their losses and until they can relocate their miners to legal areas.

What is going to happen after this event ends is going to be a mind blowing rally because

1. No more China ban fud

2. No more environmental fud

3. No more China centralization fud

Once people start digesting what is going on and this selling event ends, next leg up begins.

Time table, who knows but these events are not quickly over as miners hold a ton of coins.

So my expectation, short bear market (may go down to like 20k) before we slowly accumulate higher then massive rally to above all time highs

[Rasho Brezec]

What do you guys think about staking ETH?

What's not to like? Are you referring to running your own validator or staking using a pool or 3rd party app?

3rd party app - my crypto exchange.

[Stannis]

Crypto market is dropping HARD right now

Yeah, China is cracking down hard

https://fortune.com/2021/05/21/china-ban-bitcoin-price-bubble-crypto/

Not sure what their game plan is here. I know they are pushing their own virtual currency. Maybe they are trying to kill bitcoin and get everyone to use China's "bitcoin"?

I've been looking through all the news and chinese sources about this situation and it seems they are really going to be shutting down many miners soon. Since most of trading done in china is thru OTC and international exchanges anyway, I doubt it will disrupt this portion of it.

However, this is still quite bearish news because miners will be forced into selling until they can cover their losses and until they can relocate their miners to legal areas.

What is going to happen after this event ends is going to be a mind blowing rally because

1. No more China ban fud

2. No more environmental fud

3. No more China centralization fud

Once people start digesting what is going on and this selling event ends, next leg up begins.

Time table, who knows but these events are not quickly over as miners hold a ton of coins.

So my expectation, short bear market (may go down to like 20k) before we slowly accumulate higher then massive rally to above all time highs

Thanks bro! How do you think this will affect alt coins, specially ETH and DOT. I know the latter has a lot of Chinese investors.

[Garbagelo]

Yeah, China is cracking down hard

https://fortune.com/2021/05/21/china-ban-bitcoin-price-bubble-crypto/

Not sure what their game plan is here. I know they are pushing their own virtual currency. Maybe they are trying to kill bitcoin and get everyone to use China's "bitcoin"?

I've been looking through all the news and chinese sources about this situation and it seems they are really going to be shutting down many miners soon. Since most of trading done in china is thru OTC and international exchanges anyway, I doubt it will disrupt this portion of it.

However, this is still quite bearish news because miners will be forced into selling until they can cover their losses and until they can relocate their miners to legal areas.

What is going to happen after this event ends is going to be a mind blowing rally because

1. No more China ban fud

2. No more environmental fud

3. No more China centralization fud

Once people start digesting what is going on and this selling event ends, next leg up begins.

Time table, who knows but these events are not quickly over as miners hold a ton of coins.

So my expectation, short bear market (may go down to like 20k) before we slowly accumulate higher then massive rally to above all time highs

Thanks bro! How do you think this will affect alt coins, specially ETH and DOT. I know the latter has a lot of Chinese investors.

I would continuously DCA on BTC, ETH, DOT and maybe ADA at cheap prices if we are indeed in this downward accumulation IMO, specifically ETH.

New news today though

Now Ray Dalio is now in BTC, this is another green light for institutional buyers

Congress has said that it no cannot pass any regulation on crypto any time soon, dispelling the 10k reporting fud.

Goldman Sachs has called Bitcoin a new investable class of asset.

Wharton School and World Economic Forum has spoken highly of defi, which will be a boon for ETH.

However, I still remain cautious because of Chinese miners but I will continue to accumulate on dips.

Update: Elon apparently now bullish on BTC again lol, this is just madness at this point. Hodl for dear life.

Read on Twitter

[MeloFromTheLeft]

Is everything rallying because of the Goldman Sachs announcement?

Sucks I converted all my MATIC and ADA to ETH, but I'll take being back up.

Now the question is whether this is sustainable or if everything will tank again with the situation in China?

[Stannis]

Update: Elon apparently now bullish on BTC again lol, this is just madness at this point. Hodl for dear life.

Read on Twitter

Musk is toxic as hell lol.

I wouldn't be surprised if next week he informs us all that "sustainable Bitcoin mining is not possible".

He might even say Doge is sustainable and we should all buy it.

He likes to see how much pull he has. It's good for his ego.

[Garbagelo]

Is everything rallying because of the Goldman Sachs announcement?

Sucks I converted all my MATIC and ADA to ETH, but I'll take being back up.

Now the question is whether this is sustainable or if everything will tank again with the situation in China?

The bullish news is somewhat softening the blow but do not be fooled, miners will be dumping endlessly and somewhat depressing the price. I'm still seeing a chance BTC tries to go above 42-43k. If it breaks it, probably a safer time to buy.

[thecampster]

Thanks bro! How do you think this will affect alt coins, specially ETH and DOT. I know the latter has a lot of Chinese investors.

Your friendly neighborhood Hawks fan here. I started mining about a month ago and got in and bought the dip a few days ago.

As far as alt coins go, I took a measured, calculated risk and bought Shiba. Of all the Dog coins, it has the best money making potential. It is still a relatively cheap buy, (low risk, high reward) and should do well after its swap opens up here soon (they will not commit to the release date to avoid artificial pumps).

With the Fed about to get involved, I'm thinking we are going to see a great consolidation to a much smaller number of coins. If you look at the total market usage right now, its about 2 trillion (depending on flux). In a realistic world, I see a large portion of the alt coins going away after the Fed has their say and those investments consolidating into safer alts. Mine is a speculation wager for sure but I see SHIB being one of the projects left standing after consolidation.

I'd also like to thank the mods on this forum. I really appreciated this thread and the opinions shared. Gave me a historical perspective of those speculating over the last 3 years and how those speculations panned out.

GL tomorrow guys.

[Stannis]

I know it's not the investment thread, but...

Consolidated my portfolio a bit. Sold all my GameStop. Maybe it was smart or dumb, but 200% gain for little to know research. I'm not complaining lol. I put half the profits into more cynical plays like $LUMN, steel, and silver.

I'm still holding Virgin Galactic. I took some profits after the recent jumps. I might exit for sure if it goes up more.

Sold most of my remaining SPACs for a loss. But still a wash since I made some money off CCIV (Lucid Motors).

I still have some serious moronic names stuck in my portfolio (BlackBerry and GEVO). Not sure what I was thinking here (because I wasn't thinking).

I plan to just hold Palantir as my "meme-ish" stock.

I'm pretty heavy into steel as well, $X, $CLF, $MT, $TX, and $STLD

I'm thinking of buying more gold and silver. Currently only in $AG as a silver miner. I might buy into $PHYS (gold) and $PSLV (silver)

Everything else I have is bluechips. I might trim up soon since all these are at ATHs.

[thecampster]

I know it's not the investment thread, but...

Consolidated my portfolio a bit. Sold all my GameStop. Maybe it was smart or dumb, but 200% gain for little to know research. I'm not complaining lol. I put half the profits into more cynical plays like $LUMN, steel, and silver.

I'm still holding Virgin Galactic. I took some profits after the recent jumps. I might exit for sure if it goes up more.

Sold most of my remaining SPACs for a loss. But still a wash since I made some money off CCIV (Lucid Motors).

I still have some serious moronic names stuck in my portfolio (BlackBerry and GEVO). Not sure what I was thinking here (because I wasn't thinking).

I plan to just hold Palantir as my "meme-ish" stock.

I'm pretty heavy into steel as well, $X, $CLF, $MT, $TX, and $STLD

I'm thinking of buying more gold and silver. Currently only in $AG as a silver miner. I might buy into $PHYS (gold) and $PSLV (silver)

Everything else I have is bluechips. I might trim up soon since all these are at ATHs.

Yah, I'm not sure I'd be holding too much there. This market is due for a reset.

[Stannis]

I know it's not the investment thread, but...

Consolidated my portfolio a bit. Sold all my GameStop. Maybe it was smart or dumb, but 200% gain for little to know research. I'm not complaining lol. I put half the profits into more cynical plays like $LUMN, steel, and silver.

I'm still holding Virgin Galactic. I took some profits after the recent jumps. I might exit for sure if it goes up more.

Sold most of my remaining SPACs for a loss. But still a wash since I made some money off CCIV (Lucid Motors).

I still have some serious moronic names stuck in my portfolio (BlackBerry and GEVO). Not sure what I was thinking here (because I wasn't thinking).

I plan to just hold Palantir as my "meme-ish" stock.

I'm pretty heavy into steel as well, $X, $CLF, $MT, $TX, and $STLD

I'm thinking of buying more gold and silver. Currently only in $AG as a silver miner. I might buy into $PHYS (gold) and $PSLV (silver)

Everything else I have is bluechips. I might trim up soon since all these are at ATHs.

Yah, I'm not sure I'd be holding too much there. This market is due for a reset.

It's mostly Amazon, Google, and Microsoft. Those are hard to let go of because I honestly don't think they could screw up earnings even if they tried. And funny enough, they are still being outperformed by "reopening stocks" like Southwest/Delta Airlines, Simon Property Groups, Cruise-lines, and gas/oil.

Also, I still hold Nvidia. This one will get interesting after the 1:4 split.

[MeloFromTheLeft]

So...everything has rebounded...but it doesn't feel sustainable, does it? It's all gonna come crashing back down with the whole China situation?

Considering selling my ETH and then buying it back up once it comes crashing back down.

[Stannis]

So...everything has rebounded...but it doesn't feel sustainable, does it? It's all gonna come crashing back down with the whole China situation?

Considering selling my ETH and then buying it back up once it comes crashing back down.

You know when ETH is gonna peak and crash?

[Stannis]

Im seeing the same thing with steel (yes, steel the commodity), China is trying to control the price. They cant do it forever. Banning Netflix, Google, etc. Didn't stop those from having huge market caps.

My honest opinion is just cut the risk in half. Which is just invest half of what you got, and keep the other half in case of a big dip caused by China.

People want their Bitcoin. They want their Copper. They want their corn. They want their steel. They want their broccoli. They want their silver/gold. They are gonna want it with or without China.

We got this.

[thecampster]

So...everything has rebounded...but it doesn't feel sustainable, does it? It's all gonna come crashing back down with the whole China situation?

Considering selling my ETH and then buying it back up once it comes crashing back down.

You know when ETH is gonna peak and crash?

LOL...let me consult my genie lamp.

Seriously though, 2 interesting things happening with Dog coins right now.

Shiba is waiting on Shibaswap being released any day and a potential Robinhood/Webull listing.

Kishu is having a big marketing blitz this weekend with billboards all over LA (they've been all over NY for a bit), some radio spots, etc. Could pump some there. Just a meme coin but good short term potential.

[Sark]

https://www.coindesk.com/mark-cuban-invests-in-ethereum-layer-2-polygon


Polygon gonna hit $5 by July I'm thinking.

[ZKnicks]

Telcoin helped write legislation that was signed into law in Nebraska yesterday. They are on their way to being the first digital asset bank and able to offer regulated defi services in the US. This is a BIG deal. Telcoin continues doing things right.

https://finance.yahoo.com/news/telcoin-drafted-crypto-banking-legislation-065600026.html

Oh and even with the last weeks crash, they are STILL up over 21,000% year to date!

Other than that I’ve been picking up more MATIC, Eth, ZCX and Link lately.