Is anyone still buying BTC or crypto in general?

Just not feeling the predictions out there of $20K for BTC by the end of this year. There's absolutely no basis that I can see for this price level.

  1. BTC is popular and pretty proven, but it's slow due to the process of mining.

  2. Coincidentally, the open process can also lead to breaks in the system, which causes significant security concerns.

  3. Transaction costs are up along with the volume of transactions on the network. So, clearly it's not as efficient and that presents challenges from a competition standpoint.

  4. BTC will make it annoying for everyday consumers to complete transactions due to price fluctuations.

  5. Only consumers will use coin because leaders in industry are developing systems that work on blockchain as a method of efficiency and transparency, not really as a store of value.

Despite these obstacles, the main problem that I have is this concept of "greater coin adoption" or whatever they like to paint. How is transactions being completed on blockchain automatically gonna lead to greater coin adoption? I mean, maybe it will, but then again there's not actual link that proves this will be true.

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Comments (20)

May 10, 2018 - 3:59pm

Hi iBankedUp, the silence is deafening, sorry about that.... Any of the threads below helpful?

  • How to Get Started in Cryptocurrencies? General Crypto Thread more interest in cryptocurrencies. As it says in the title, this is a general cryptocurrency thread so ... invest in at the moment, good strategies to utilize when investing in them (buy and hold or actively ... can easily get stolen like what happened with mt. gox back in 2014. And there is no real way to get ...
  • Overnight 23-year old BTC Millionaire? Life Choices cryptos in early 2018 and sold $100-200k worth before the big drop. After paying the massive tax bill, ... in wealth in the current market cycle? I want to take some risk, as is my personality, but slow ... growth is also of interest. I know investing in market is good strategy for long term but market ...
  • Percentage of HFs Secretly Investing in Cryptos? in general, one would expect a greater proportion of managers to invest in this controversial space. ... told me that their funds are secretly trading in cryptos to bump returns. So my question is how ... actually settled early and ahead of schedule, because the outcome was so one-sided in favor of the S&P ...
  • Who else is making $$$ off cryptos? With IOTA shooting up over 500% over the last few days and BTC shooting up almost 500% in 12 ... months, anyone else making big bank off cryptos? I know the volatility and risk are pretty big but an ...
  • I'm in college and a millionaire because of crypto. AMA I still have $1 million invested in crypto currencies. My initial investment was $25K, from selling my ... and such, but I'm now convinced that technical analysis is usually not relevant to crypto. Right ... been involved in the Bitcoin community for a couple years now. I cashed out $1 million into fiat, and ...
  • AMA: Crypto Hedge Fund Trader prefer to keep it in the crypto world since that is where there is not a lot of information available to ... Hello, I currently work as a trader at a crypto focused hedge fund. Our primary function is that ... don't ask about comp, crypto HF pays just like any other HF and there is plenty of info on that within ...
  • How do you stay organized at work (both in general and on action item lists)? (x-post w/ MC forum) me out more and more. Now that I'm in PE, my lack of organization is threatening to drown me. My ... some use OneNote, while others just keep a paper journal with everything in it. Strategically- how do ... to return to minor items from a discussion a day or a week ago? What is your overall record keeping ...
  • More suggestions...

Maybe one of our professional members will share their wisdom: MynameisJon ronenbarak5 Caherly

I hope those threads give you a bit more insight.

Jun 1, 2018 - 12:18pm

I'm still buying pretty decent amounts of crypto. I think that BTC has become overly centralized as it is controlled by Core and their Lightning Network scaling solution is unproven at best. BTC has moved away from the true vision of the BTC white paper which was to create a peer to peer digital cash system. Bitcoin Cash stays true to the original idea. While, I'm not selling my BTC I'm not buying anymore. I am increasing my Bitcoin Cash holdings.

I'm also still buying Ethereum, OmiseGo, Augur, and Monero. I think those cryptos will see meaningful growth over the coming years.

I think now is a smart time to buy instead of when all the idiots were buying near the peak in late 17 and early 18. We have seen this huge boom and bust cycle in the crypto space before and as network usage increases with the delivery of functional ICO projects I anticipate we will continue to see growth in the crypto space.

99% of the projects out there are trash, but the handful that are seeing true developer attention are worth following.

Jun 2, 2018 - 11:34pm
picklemonkey:

I'm still buying pretty decent amounts of crypto. I think that BTC has become overly centralized as it is controlled by Core and their Lightning Network scaling solution is unproven at best. BTC has moved away from the true vision of the BTC white paper which was to create a peer to peer digital cash system. Bitcoin Cash stays true to the original idea. While, I'm not selling my BTC I'm not buying anymore. I am increasing my Bitcoin Cash holdings.

I'm also still buying Ethereum, OmiseGo, Augur, and Monero. I think those cryptos will see meaningful growth over the coming years.

I think now is a smart time to buy instead of when all the idiots were buying near the peak in late 17 and early 18. We have seen this huge boom and bust cycle in the crypto space before and as network usage increases with the delivery of functional ICO projects I anticipate we will continue to see growth in the crypto space.

99% of the projects out there are trash, but the handful that are seeing true developer attention are worth following.

picklemonkey what exactly does "network usage increases" mean when you say that? It always sounds like you're mixing blockchain technology together just because a coin's ledger is based on blockchain. I get how this may make sense for ETH, but when you say this about any coin that way, it sounds just outright wrong.

Another thing, do you believe active blockchain usage will ultimately hold more upside than a traditional cash equity? Or is it just the interest towards accessibility versus private markets that is exciting to you?

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Jun 13, 2018 - 12:47pm

By network usage, I mean transactions on the various cryptos' respective blockchains which could be simple peer to peer transactions, Dapp usage, or larger and more complex smart contract executions. I'm mainly saying that the number of smart contracts and general transactions on various blockchains have been increasing and will continue to do so as more applications are created. There has been a increased level of activity on the test nets, which in the past has been a leading indicator for additional activity of the mainnet in the next 3 - 6 months. I believe the value of these various blockchains will eventually be closely tied to the activity on that particular blockhain. I'm sorry that I did not make that clear in my previous comment, and that it took me so long to respond.

I'll be the first person to say I'm not sure how blockchain technology will ultimately change the world we live and work in, but I am confident it will have a significant impact that will evolve as the technology progresses (look at the internet from 1990 -2010). Cash is never going away, but if you can transfer funds faster, cheaper, and safer via the blockchain I don't see why that wouldn't eventually catch on to some degree. At the very least I believe that blockchain technology can replace or improve existing processes and reduce some operating costs.

Jun 13, 2018 - 12:56pm

Prefer Venezuelan bonds to crypto. Both will screw me in the end.

  1.  
Jun 17, 2018 - 6:36pm

It's a hold for me at the moment. My view is that the know-it-all skeptics are keeping prices artificially depressed in the futures markets. The tech continues to improve and use of coins continues to grow. It's going to take wider participation by institutional investors to overcome the aforementioned price resistance stemming from the futures market.

Once it breaks through that hurdle, I would expect rapid price appreciation as the shorts get squeezed. The institutional investors are slow but given the unique risk/return attributes of the asset class (its lack of correlation to other asset classes), it's only a matter of time before it's more widely incorporated into portfolios.

So why is it a hold? Well, I could be wrong..

“Elections are a futures market for stolen property”
  • 3
Apr 22, 2021 - 8:58pm
  1. BTC is popular and pretty proven, but it's slow due to the process of mining.

I would like to say that I see the point in buying bitcoin. Investing is always good, and investing in something new and profitable is even better. First, by buying bitcoin, we become independent from the state. Our money does not fall under the jurisdiction of central banks, that is, we manage it ourselves.
Secondly, Bitcoin is convenient to use. It does not cause any inconvenience, moreover, more and more countries are beginning to treat bitcoin as something normal. So I believe it is high time to buy bitcoin. On the internet I found a site where you can buy bitcoin with credit card no verification. Wish you luck!

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Apr 28, 2021 - 9:14am

It's a digital native currency. If you think digital will grow then the native currency to that space seems like it should / will need to grow with it prob

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  • Anonymous Monkey
  • Rank: Chimp
Apr 28, 2021 - 11:55am

If done for the right reasons, seems like a great way to make money investing in crypto

To become wealthy

May 16, 2021 - 1:36pm

When did this stop being relevant? It seems to me that now the cryptocurrency has become bigger than ever. Every day more and more people use cryptocurrency. Did you see what happened to Bitcoin? This made many people very rich, including me, who was able to make money from it. Now you can find a large number of different bonuses or coupons like here https://smartoptions.io/coupons/ that will help you get started in this area. Now is a good time to start, so you can start right now, so you don't have to worry about missing out on your opportunity.

Oct 9, 2021 - 7:39pm

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