OT: Meme stocks

[Bleeding Green]

ETH gas fees are cheap as hell now. Like 17 gwei. I bet it's cheaper to send ETH than BTC at this exact moment.

[Andrew McCeltic]

You fundamentally misunderstand the purpose of bitcoin. It has never been about maxing out TPS (transactions per second) but creating a new form of money that is trustless, borderless, immutable and resistant to inflation. Bitcoin is a settlement layer, not an IOU like visa or paypal. Near instant, near free (try moving $1b worth of gold for ~$3) settlement of value is revolutionary. No other "tech" comes even close to achieving this, and all other "blockchain" projects are piggybacking on (and IMO bastardizing) the breakthrough that was Satoshi's PoW solution.

1sat/byte fees at the moment btw. Basically free transactions.

It was revolutionary. And it will always have value because it commands tremendous respect and is a scarce resource, and for the time being it has been designated by the people as digital gold. But value aside, correct me if I am wrong, today there are many other coins that can accomplish the same, just more efficiently.

None of them come even close to the level of decentralization and trustlessness of Bitcoin. Those are the factors that that separate bitcoin from visa.

None of them come even close to the immutability of bitcoin. Even in this thread there is discussion of changing supply cap, "ETH 2.0" and other major protocol changes. In no world does that compare to the set in stone store of value that bitcoin has provided for over a decade despite many attempts to alter it.

Satoshi set out to fix money, not transactions.

Also, have you tried sending ETH lately? How those fees looking?

I have a little money in Stellar lumens - minuscule fees, near instantaneous transfers, a slew of partnerships with Visa and others - the current target is to provide service to the “unbanked”. They’re not averse to centralization or regulation, and the supply of coins is so big that the price isn’t going to reach BTC or ETH levels, but it’s an interesting project..

[sam_I_am]

I'm not in the meme stocks but Ethereum, Cardano, Polygon and AAVE have been doing well for me in the crypto space.

A friend's coworker told him June 2nd is the date that AMC is blasting off. I'm not playing but best of luck to all that are.

I have all of those too except Aave. I staked Cardano on Kraken for an extra 5-6% interest and Polkadot for a whooping 13% interest. I would stake Matic on Celsius for up to 17% but my state still blocks them.

Any idea what the next Meme stock will be after AMC?

[sam_I_am]

Doge is dumb at this price. No upside. The coin is impossible to get $1. So, your runway is so small. You have to manage price and buy low, sell when it jumps 15%.

Kinda dumb.

I like things that can increase in multiples. Eth! I wish I could put more into it. I also jumped on amc at $10. Wish I bought more.


Sent from my iPhone using Tapatalk

While there's some substance to the argument, people have been saying the same since Doge was two cents.

One of these days IMO, when crypto is a bit further mainstream, it's gonna start trending on Twitter again, and it's gonna go viral to the point where celebs are encouraging other celebs to buy and donate to charity. People will keep buying until it has the 3 spot behind BTC and ETH. That's just how Doge works.

It's how Doge worked before WSB took it up and was destined to rise as crypto became mainstream. OG crypto community appreciates the story of Satoshi Nakamoto and reveres Bitcoin despite it's relative fundamental weaknesses, whereas the mainstream is more inclined to dogs, and memes, and stuff.

Not a long term hold, but everyone should be prepared to buy it when the right moment comes about. IMO

In April I thought it would be fun to buy Doge for the heck of it but it wasn’t available on my exchange so I forgot about it. It cost 5cents. 1 month later it ran up to 70 cents before Musk on SNL. Sure it’s a joke..... but 12x your money in 1 month with an obvious exit point too? Not a terrible idea if it’s just a fraction of your portfolio that you can stand to lose.

[sam_I_am]

BTC transactions are slower and more expensive compared with other coins and blockchains. That's all I was getting at; if it were literally all about the tech Bitcoin probably wouldn't be very relevant at this point.

You fundamentally misunderstand the purpose of bitcoin. It has never been about maxing out TPS (transactions per second) but creating a new form of money that is trustless, borderless, immutable and resistant to inflation. Bitcoin is a settlement layer, not an IOU like visa or paypal. Near instant, near free (try moving $1b worth of gold for ~$3) settlement of value is revolutionary. No other "tech" comes even close to achieving this, and all other "blockchain" projects are piggybacking on (and IMO bastardizing) the breakthrough that was Satoshi's PoW solution.

1sat/byte fees at the moment btw. Basically free transactions.

It was revolutionary. And it will always have value because it commands tremendous respect and is a scarce resource, and for the time being it has been designated by the people as digital gold. But value aside, correct me if I am wrong, today there are many other coins that can accomplish the same, just more efficiently.

It’s a bad idea to talk religion, politics or Bitcoin.....just kidding but to some Bitcoin devotees, Altcoin is a 4 letter word. Unfortunately, the reality is that the value of all other coins still depends on Bitcoin.

[MagicBagley18]

Doge is dumb at this price. No upside. The coin is impossible to get $1. So, your runway is so small. You have to manage price and buy low, sell when it jumps 15%.

Kinda dumb.

I like things that can increase in multiples. Eth! I wish I could put more into it. I also jumped on amc at $10. Wish I bought more.


Sent from my iPhone using Tapatalk

While there's some substance to the argument, people have been saying the same since Doge was two cents.

One of these days IMO, when crypto is a bit further mainstream, it's gonna start trending on Twitter again, and it's gonna go viral to the point where celebs are encouraging other celebs to buy and donate to charity. People will keep buying until it has the 3 spot behind BTC and ETH. That's just how Doge works.

It's how Doge worked before WSB took it up and was destined to rise as crypto became mainstream. OG crypto community appreciates the story of Satoshi Nakamoto and reveres Bitcoin despite it's relative fundamental weaknesses, whereas the mainstream is more inclined to dogs, and memes, and stuff.

Not a long term hold, but everyone should be prepared to buy it when the right moment comes about. IMO

In April I thought it would be fun to buy Doge for the heck of it but it wasn’t available on my exchange so I forgot about it. It cost 5cents. 1 month later it ran up to 70 cents before Musk on SNL. Sure it’s a joke..... but 12x your money in 1 month with an obvious exit point too? Not a terrible idea if it’s just a fraction of your portfolio that you can stand to lose.

This is what I said to a friend....he’s a coin snob when it comes to crypto. Talking about **** coins and things like that. I explained him I’m into a coin like doge for example for profit bottom line. I don’t look at it like eth or some other long term substantial investment. So if you get into something and make a **** load of money but can get out at the right time- then who cares

[jmr07019]

I'm not in the meme stocks but Ethereum, Cardano, Polygon and AAVE have been doing well for me in the crypto space.

A friend's coworker told him June 2nd is the date that AMC is blasting off. I'm not playing but best of luck to all that are.

I have all of those too except Aave. I staked Cardano on Kraken for an extra 5-6% interest and Polkadot for a whooping 13% interest. I would stake Matic on Celsius for up to 17% but my state still blocks them.

Any idea what the next Meme stock will be after AMC?

I do not know what the next meme stock will be but POAI is supposed to have a catalyst that could trigger a short squeeze. Catalyst is expected on June 10th as the company has a presentation at a medical conference. Even if the squeeze isn't triggered the stock should have a nice gain.

[Bill Bradley]

Have bought 1,000 shares of AMC over the last few days. Have been extreme highs and lows. This could either help make me rich or poor.

[Writebloc]

Good luck man, if it means anything to you, I wish I could muster 1,000...

[itrsteve]

Also, have you tried sending ETH lately? How those fees looking?

Better now than when they were with stupid ass doge was clogging up the chain.

My coinbase holdings got too uncomfortable to hold there (or in any exchange) any longer so I did a small test send to my ledger wallet, it was $36 in gas.

My last move was 1/10th of that, still high but PoS is going to change the game entirely.

Admittedly, the only thing tough with ETH is seeing how much of the future 2.0 value is priced into it today. Either way, it will be the distributed application standard once PoS and side chains get gas prices below transaction prices we're already accustomed to (i.e., 3% credit card transactions for merchants).

Also the staking model favors the rich, this is where the tides fall out of favor for rouge miners to institutional investors. The sell pressure due to lack of supply will be a real thing = there's no incentive to sell, while the higher the stakes, the higher security the etherum network benefits and more attractive as a network for functional use case it becomes.

Investors will be rewarded for holding. Staking APY's are going to beat interest APY's in orders of multitude, meanwhile having an asset that's hedging USD inflation the entire time instead of struggling to beat it as an accomplishment.

This isn't a slight at BTC, it's apples to broccoli. They both have intrinsic value and functions.

BTC will be gold, ETH will be where the future of distributed applications are written against, with the security and integrity insured by the stakers. It's truly revolutionary stuff.

[sam_I_am]

Also, have you tried sending ETH lately? How those fees looking?

Better now than when they were with stupid ass doge was clogging up the chain.

My coinbase holdings got too uncomfortable to hold there (or in any exchange) any longer so I did a small test send to my ledger wallet, it was $36 in gas.

My last move was 1/10th of that, still high but PoS is going to change the game entirely.

Admittedly, the only thing tough with ETH is seeing how much of the future 2.0 value is priced into it today. Either way, it will be the distributed application standard once PoS and side chains get gas prices below transaction prices we're already accustomed to (i.e., 3% credit card transactions for merchants).

Also the staking model favors the rich, this is where the tides fall out of favor for rouge miners to institutional investors. The sell pressure due to lack of supply will be a real thing = there's no incentive to sell, while the higher the stakes, the higher security the etherum network benefits and more attractive as a network for functional use case it becomes.

Investors will be rewarded for holding. Staking APY's are going to beat interest APY's in orders of multitude, meanwhile having an asset that's hedging USD inflation the entire time instead of struggling to beat it as an accomplishment.

This isn't a slight at BTC, it's apples to broccoli. They both have intrinsic value and functions.

BTC will be gold, ETH will be where the future of distributed applications are written against, with the security and integrity insured by the stakers. It's truly revolutionary stuff.

It’s almost impossible to understand the valuation of all of these crypto currencies. How do you figure out a fair value for Bitcoin other than whatever the market says it is at a given time.

With Ethereum at least there is a utility than can approximate a value. There are 1.3 million transaction on ETH per day and at $6 per transaction that is about 3 billion a year. The market cap at $2500 is about 300 billion. That’s almost like a PE of 100. The growth potential of ETH network makes a PE of a 100 a bargain. Predictions of a 10k price by year’s are possibly legit and more than just YouTube and Reddit fanboys trying to pump up the value.

[BillessuR6]

I am thinking about investing into crypto as well...no huge amount...and long term...

I was planning one on the "safe" side (like Etherium etc.) and one "dark horse"...

What do you guys think of Cardano? Polygon?

Thanks!

[jfs1000d]

AMC, people get spooked. We are in the profit taking portion of the short squeeze. I gotta think it is going to peak I. The next month.


Sent from my iPhone using Tapatalk

[threrf23]

A little something that went under the radar yesterday...

SPRAY token stealth launched on Uniswap, and rose a little more than 13,000% in six hours.

Like if you bought $1k at launch (around noon EST), you could have had about $130k by 6 PM.

You can see the chart here:

https://www.dextools.io/app/uniswap/pair-explorer/0x304872a6d0faf474a7d8e43d874880a5199a4e34

I thought that was pretty spectacular. I wish I could say I bought in. I had actually noticed the listing, glanced at the website, and had considered buying a small amount. But for a few reasons it seemed a little sketchy and I shied away. I checked the price later in the day and...damn...

[Bill Bradley]

AMC looks like is about to explode upwards now. Seems inevitable but it will be a battle still. Not financial advice but I’m about to double down on this. Could impact the entire market. Tomorrow should be interesting.

[MagicBagley18]

AMC looks like is about to explode upwards now. Seems inevitable but it will be a battle still. Not financial advice but I’m about to double down on this. Could impact the entire market. Tomorrow should be interesting.

What makes you say that? Curious

[Bill Bradley]

AMC looks like is about to explode upwards now. Seems inevitable but it will be a battle still. Not financial advice but I’m about to double down on this. Could impact the entire market. Tomorrow should be interesting.

What makes you say that? Curious

Hedge funds have been trying to short AMC and keep losing and haven't yet paid the bill. When they start to pay up, there will be a huge short squeeze like what happened with Gamestop but even moreso because regular Joe investors own the entire float meaning that they will set the price when the Hedge Funds have to pay up. This past Friday the Hedge Funds threw everything they had to keep this stock below $40 a share but they couldn't do it so more debt accumulates. If the same thing happens this next Friday it will be several times worse for them.

What is likely to happen is that a crap ton of investors are going to throw their money at AMC stock tomorrow morning and it will shoot up and could trigger a squeeze that sends the stock soaring. If it doesn't happen tomorrow or even this week, it's just a matter of time because the Hedge Funds have to pay their bills regardless.

[MagicBagley18]

AMC looks like is about to explode upwards now. Seems inevitable but it will be a battle still. Not financial advice but I’m about to double down on this. Could impact the entire market. Tomorrow should be interesting.

What makes you say that? Curious

Hedge funds have been trying to short AMC and keep losing and haven't yet paid the bill. When they start to pay up, there will be a huge short squeeze like what happened with Gamestop but even moreso because regular Joe investors own the entire float meaning that they will set the price when the Hedge Funds have to pay up. This past Friday the Hedge Funds threw everything they had to keep this stock below $40 a share but they couldn't do it so more debt accumulates. If the same thing happens this next Friday it will be several times worse for them.

What is likely to happen is that a crap ton of investors are going to throw their money at AMC stock tomorrow morning and it will shoot up and could trigger a squeeze that sends the stock soaring. If it doesn't happen tomorrow or even this week, it's just a matter of time because the Hedge Funds have to pay their bills regardless.

I got in at $11. What do you see the all time high being for it?

[Bill Bradley]

What makes you say that? Curious

Hedge funds have been trying to short AMC and keep losing and haven't yet paid the bill. When they start to pay up, there will be a huge short squeeze like what happened with Gamestop but even moreso because regular Joe investors own the entire float meaning that they will set the price when the Hedge Funds have to pay up. This past Friday the Hedge Funds threw everything they had to keep this stock below $40 a share but they couldn't do it so more debt accumulates. If the same thing happens this next Friday it will be several times worse for them.

What is likely to happen is that a crap ton of investors are going to throw their money at AMC stock tomorrow morning and it will shoot up and could trigger a squeeze that sends the stock soaring. If it doesn't happen tomorrow or even this week, it's just a matter of time because the Hedge Funds have to pay their bills regardless.

I got in at $11. What do you see the all time high being for it?

Sweet! I've only recently gotten on board.

Man, I don't even know. There are those who say that they won't sell until it's $500,000/share, lol. If I were forced to guess, I would predict like $500/share, though I could see it going as high as $1,000/share. Obviously I'm bullish and think this will squeeze.

What do you think?

[MagicBagley18]

Hedge funds have been trying to short AMC and keep losing and haven't yet paid the bill. When they start to pay up, there will be a huge short squeeze like what happened with Gamestop but even moreso because regular Joe investors own the entire float meaning that they will set the price when the Hedge Funds have to pay up. This past Friday the Hedge Funds threw everything they had to keep this stock below $40 a share but they couldn't do it so more debt accumulates. If the same thing happens this next Friday it will be several times worse for them.

What is likely to happen is that a crap ton of investors are going to throw their money at AMC stock tomorrow morning and it will shoot up and could trigger a squeeze that sends the stock soaring. If it doesn't happen tomorrow or even this week, it's just a matter of time because the Hedge Funds have to pay their bills regardless.

I got in at $11. What do you see the all time high being for it?

Sweet! I've only recently gotten on board.

Man, I don't even know. There are those who say that they won't sell until it's $500,000/share, lol. If I were forced to guess, I would predict like $500/share, though I could see it going as high as $1,000/share. Obviously I'm bullish and think this will squeeze.

What do you think?

Dude, I’ve been wrong this whole time but my friend is one of these guys whose been in the whole time has a lot invested and he swears it’s hitting 1k. That defies logic for me and seems unbelievable and I think he’s totally blinded but **** hell if I know. If I had to guess I’ll say $225 range