Crypto thread

The cardano market cap is around $850m. I think in the next bull market it could reach $100b and will definitely reach $40b. 

Im not really sure what point you’re trying to make. The numbers I got are rounded from CMC. 

18 million in existence vs 25 billion is a huge difference. 

But so isnt $6800 per Bitcoin and $0.03 per ADA. 

I’m trying to go 30x from here. 

IMO it’s more likely that ADA goes to $0.90 than BTC to $210,000. 

Post 573 you listed 26M on ADA and so I thought saying that the number is really BILLION was worth mentioning...that float is unbelievable and to move it would take a tsunami.

Yeah my fault on that one. 

It it would take roughly $850 million to move Cardano up 100% to $0.06. 

It would take roughy $130 billion to move BTC up 100% to $14,600. 

I dont understand the point you’re trying to make. 

2019 total transaction in USD value: 

Chase bank credit cards- $0.4 Trillion 

PayPal- $0.7 Trillion 

Bitcoin- $3.8 Trillion 

All digital payments on the internet $4.1 Trillion 

The point I am making is that relative performance is a BIG deal, if you have a basket of potential investment opportunities and they have many similarities and in fact they are considered in the same general category as an investment then evaluating them relative to each other (relative performance) is how you should try and pick the strongest performer in the asset class and usually choosing the stronger performer will bring solid results. Thats why I said unless there is something unexpected to drive ADA I dont know why someone would pick a low performer when there are better choices. It isnt about how many pieces of the asset you can own its picking the one which is going to perform better for you as an investment. 

That really is the only point to make and I am not sure what is difficult about that concept.

The point I am making is that relative performance is a BIG deal, if you have a basket of potential investment opportunities and they have many similarities and in fact they are considered in the same general category as an investment then evaluating them relative to each other (relative performance) is how you should try and pick the strongest performer in the asset class and usually choosing the stronger performer will bring solid results. Thats why I said unless there is something unexpected to drive ADA I dont know why someone would pick a low performer when there are better choices. It isnt about how many pieces of the asset you can own its picking the one which is going to perform better for you as an investment. 

That really is the only point to make and I am not sure what is difficult about that concept.

I think Cardano will perform the best as an investment over the next 1-5 years. 

You can put your investment down and we can revisit at a later date. 

I hope it does, I have all the stuff setup so I can purchase when I want plus the USB drive security thingy but I am not motivated at these prices for the items I want to own. I am also not sure that the Nano I have works with ADA. I know it is limited on what it will hold.

This conversation makes me think of the restaurant business in that 90% of all restaurants fail. Some make money for a while and fail. Some make money for a decade and fail while some last forever (or forever as it pertains to our lifetime). Some time ago, I read the same thing about crypto in that 90% of the tokens will fall to zero. 

So....10% will survive and become the next McDonalds (not the best example of a great restaurant, but a profitable one)!

Considering that 90% will fail, isn't it best that if you choose to invest in this space that you just stick with Bitcoin?

I'm not in restaurants or Bitcoin, and gambling is certainly not restricted to sports-betting or in casinos or poker, so I understand the logic in picking the long shot crypto coin. But still, wouldn't Bitcoin be the wisest long term choice???

Well, you could be right and a lot of people in the space agree with you but Bitcoin is already up 9,000,000% 

Yoroi app is fine as a cardano wallet. Have to go Coinbase —> Binance US —> Yoroi wallet. 

Kind of a pain but it is what it is. 

Yeah I am in that same camp, I'd consider LTC but for sure Bitcoin is where I would want to go if I were to get involved. I hate the hoops and the float with most of these...and then you have one like XRP who went from 3 to less than 30 cents and seems to have lost their path.

I dont mind taking some cash to take a gamble on stuff but I consider ADA and most all of the alts to be penny stocks and they will not survive. Maybe a handful will but most are dead in the water.

Cardano hasn’t even released their product yet. The testnet was just released. The mainnet is scheduled to be released by June or something. 

Take a look at some of his videos and look at their team. 

Then why are they floating the crap out of it so early? Are they needing the cash so bad that they are letting it fall like this knowing the release time is still to come? Was the float always 26B or has that changed in the last year or two and what will make it increase going forward?

26b sold in ico I think 

Nice to see BTC pumping as uncertainty sets in around the world. Brings legitimacy to BTC to see it pump alongside gold right now. 

Thoughts? 

Cashed out all of my stocks just now. 

For reference: 

NYSE 14,023

Dow Jones 28,876 

SPY 327 

Buying 

Gold 1,550 oz 

BTC 8,100 

Anyone with a brain thinks this dumb. We’ll see. 

I can’t even talk to people about this stuff. It’s too crazy. 

Thinking about cashing in my 401k as well. If I have a couple 100k in there, it’s a 10% early withdrawal fee + taxable income at the 35% rate? That might be a little too crazy tbh. 

Would love for gold and bitcoin to pump as the markets (financial/housing) tank over the next 2-5 years.  

Thoughts? 

Detox. Please reconsider. Think about the hypothetical bet you made with me here in this thread 3 years ago. You gave me the SPY and you took Bitcoin. I'm not sure what the numbers were but I remember what I told you and it went something like this...."this is a bet that you can only win in the short run. In the long run you will be guaranteed to lose". Anyway, you already lost this bet in the short run.....how is the long run going to be better?

Why bet against something with decades and decades and decades of proven growth of wealth for something so risky. 

Please don't do it.

I sold my stocks. I had a few multi-families, I sold 2. This is the top. When rents can’t even cover mortgages on multi-families with 25% down. How can it go higher? Probably won’t sell 401k, although I think I should. 

Positions: 

Cardano 

BTC

Gold

Cash 

I didn’t understand why everyone wasn’t buying real estate and stocks 2009-2011 and I don’t understand why everyone isn’t selling now. Doesn’t make any sense to me. I don’t think I’ll be timing it perfectly but I think my timing will be pretty good in the big picture. 

Berkshire Hathaway has a $128B cash position for a reason. They’re currently getting laughed at. They will soon look like the geniuses that they are. 

I’m a Trump guy but there is a 0% chance he goes through 8 years of a booming market. I think the market will start going down and it will be looki

The market will be looking shaky in a few months when the election picks up. Trump will win. The markets will get crushed in his second term. Trump, Deregulation and Capitalism will be to blame. 

(this website is awful. it’s the only site that gives me trouble)