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Official BGOL Crypto Currency Thread ★★★★★

gene cisco

gene cisco

Not A BGOL Eunuch
BGOL Investor
An RnB Thug said:
They have a PRODUCT yet?
Seems to me Cardano wants to be everything
$Zil is already. Don't fall for the hype, get $Zil
Click to expand...
Cardano on some other shit with that eUTXO. Folks just can't copy eth shit to them like they did with BSC. Which has pros and cons. Biggest con is in a market where meme coins are in the top 20, ADA misses out on additional hype. But ADA has lived off hype for years, so live by the sword, crab by it. The fact you ask about whether or not they have a product shows just how some very knowledgeable crypto vets feel about them.

Regardless, we are in store of value territory with the bigger cryptos such as Eth and Ada. And the bankers already put out the report on the value prop of staking cryptos. In crypto, communities matter more than anything. Communities will find usecases. ADAs community is rivaled only by Eth and BTC.

Zil has so much room for growth that for people who need a home run, it is well worth looking into. 1.2 bill MC, but the volume is shit. ADA MC is 72 bill.
Mello Mello said:
See soon I’m about to offload my positions with these other coins and just go all in with a good top 5 of them. Feel like my portfolio is spread out too much. Etherium and Bitcoin has retired people in their 30’s. Or maybe I just go all in on just one single coin and try to maximize my profits there first then graduate to others. I like cardano I hope it goes far the support network for it is vast hopefully it continues to grow.
Click to expand...
Man, just be patient. Cats still retiring every single day. Ship ain't sailed. Don't make any emotional decisions. Been in/out since 2013 and finally got it this year where I don't have to work(I'm mid-40s). Ol' lady floats around this bitch now with a 24/7 grin. lol

I'd recommend against the single crypto thing. As long as crypto survives, BTC, ETH, and ADA should do fine, but you need heavy bags of them if you want to retire soon. Not so heavy if you're aiming for 2025. I just wouldn't expect much out of these but 3x any fucking time soon.

Nose around the 10-30 range and see what looks good that hasn't really done numbers yet. Shit down from its all-time high, but seems like it will be around for years. That's where you might be able to find a 10x. I'm reckless as fuck with Chainlink in this zone. Cat I know is super reckless with Vechain in this zone.

Look for communities, the more maniacal, the better. :lol: Left sooooo much money out here not betting on communities. Stopped doing that this cycle.

Depending on budget, you can then start throwing like 1k at shit from 30-100. You can also play with 100s in the BSC shitcoin lotto.

Just write down shit so you can look at your notes and stay with your retirement plan. Those notes will be like taking yourself out of bad decisions. Patience and you'll be retired sooner than you think.
 
An RnB Thug

An RnB Thug

El Capitan of The LOVE BOAT
Platinum Member
gene cisco said:
Cardano on some other shit with that eUTXO. Folks just can't copy eth shit to them like they did with BSC. Which has pros and cons. Biggest con is in a market where meme coins are in the top 20, ADA misses out on additional hype. But ADA has lived off hype for years, so live by the sword, crab by it. The fact you ask about whether or not they have a product shows just how some very knowledgeable crypto vets feel about them.

Regardless, we are in store of value territory with the bigger cryptos such as Eth and Ada. And the bankers already put out the report on the value prop of staking cryptos. In crypto, communities matter more than anything. Communities will find usecases. ADAs community is rivaled only by Eth and BTC.

Zil has so much room for growth that for people who need a home run, it is well worth looking into. 1.2 bill MC, but the volume is shit. ADA MC is 72 bill.

Man, just be patient. Cats still retiring every single day. Ship ain't sailed. Don't make any emotional decisions. Been in/out since 2013 and finally got it this year where I don't have to work(I'm mid-40s). Ol' lady floats around this bitch now with a 24/7 grin. lol

I'd recommend against the single crypto thing. As long as crypto survives, BTC, ETH, and ADA should do fine, but you need heavy bags of them if you want to retire soon. Not so heavy if you're aiming for 2025. I just wouldn't expect much out of these but 3x any fucking time soon.

Nose around the 10-30 range and see what looks good that hasn't really done numbers yet. Shit down from its all-time high, but seems like it will be around for years. That's where you might be able to find a 10x. I'm reckless as fuck with Chainlink in this zone. Cat I know is super reckless with Vechain in this zone.

Look for communities, the more maniacal, the better. :lol: Left sooooo much money out here not betting on communities. Stopped doing that this cycle.

Depending on budget, you can then start throwing like 1k at shit from 30-100. You can also play with 100s in the BSC shitcoin lotto.

Just write down shit so you can look at your notes and stay with your retirement plan. Those notes will be like taking yourself out of bad decisions. Patience and you'll be retired sooner than you think.
Click to expand...

I have money BUT I still look at look at cost to profit ratio.
Zil is .10, you can accumulate a lot more than ADA at this point for a much bigger profit
10k will buy you 100k of Zil
I expect Zil to be sitting somewhere near $1 (if not more) inside a year
ADA will not 10x in a year
 
Madrox

Madrox

Vaya Con Dio
BGOL Investor
Efkie said:
Peter is stubborn.
But understand gold has historically proven itself to be a TRUE store of value.
If you have money to spare consider putting 5 to 10% in precious metals and see it as an insurance.

For me Cryptocurrency is a speculation play and I'm long in Ethereum & bitcoin
Click to expand...

Same as far as my crypto plan (+ADA & MANA).

Re: Gold.. I starting accumulating/ holding a little cash the last 6 months -- on the side of my normal DCA'ing -- in an effort to take advantage and buy more into my high conviction stocks and crypto, in the even the market truly goes to shit.

BUT, having never experienced a full crash, I have a hard time understanding whether or not keeping that cash in gold (or some type of fixed income?) is a better idea. In order to get some gains in the interim..

How do gold, metals... or even bonds behave in a crash? Is there anything that is truly rock solid or better yet inverse, during a crash? I know there are inverse ETFs, but they seem to LOSE while waiting for a crash..
 
RoomService

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Dinner is now being served.
BGOL Investor
Bitcoin Is Up 6.5 Billion Percent Since It Was First Priced In USD

hmL88gLH-bitcoin-bull-case.jpg



Twelve years ago today, pseudonymous Bitcoin user NewLibertyStandard published what is likely the first pricing of Bitcoin in US Dollar terms.

On his website of the same name, NewLibertyStandard went on to describe how they formulated their 2009 exchange rate:

“During 2009 my exchange rate was calculated by dividing $1.00 by the average amount of electricity required to run a computer with high CPU for a year, 1331.5 kWh, multiplied by the the average residential cost of electricity in the United States for the previous year, $0.1136, divided by 12 months divided by the number of bitcoins generated by my computer over the past 30 days.”

screen-shot-2021-10-05-at-075301.png


The pricing of Bitcoin in dollar terms is remarkable because it signals the first mark of demand for the asset, or one methodology of how an exchange dynamic could arise. This theoretical price signals the following:

Someone in the market was willing to part with $1 dollar for 1,309.03 BTC, because they valued that amount of Bitcoin more than $1 dollar. Conversely, a counterparty at that time (in this case probably NewLibertyStandard as well) was willing to trade 1,309.03 BTC for $1 dollar, because they valued the Bitcoin less than one dollar. The price of 1 BTC was $0.00076392.

On 6 October 2009, the price in Bitcoin rose by NewLibertyStandard’s measure. For a moment that day, the price of 1 BTC was $0.00088454.

At the time of writing, 1 BTC costs about $49,880.00.

Let’s compare:

5 October 2009: 1BTC = $0.00076392

5 October 2021: 1BTC = $49,880.00

49,880.00 - 0.00076392 = 49,879.9992

49,879.9992 / 0.00076392 = 65,294,794.3

65,294,794.3 * 100 = 6,529,479,430%

Bitcoin has risen 6,529,479,430% since it was first priced in US dollars. Bitcoin is the most appreciating asset in human history.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
 
gene cisco

gene cisco

Not A BGOL Eunuch
BGOL Investor
An RnB Thug said:
I have money BUT I still look at look at cost to profit ratio.
Zil is .10, you can accumulate a lot more than ADA at this point for a much bigger profit
10k will buy you 100k of Zil
I expect Zil to be sitting somewhere near $1 (if not more) inside a year
ADA will not 10x in a year
Click to expand...
Oh no doubt, that major profit still in play when you got loot. A crypto sneeze could make Zil 10x. It will take a ton to move ADA 10x.

Zil always catches my eye because of the low supply on exchanges. I see that shit every fucking day cause it's always in the top ones on viewbase. I just never made a move on it. I might have to go down that rabbit hole.


www.viewbase.com

Exchange Wallet Screener | ViewBase

Exchange Wallet Screener. Gauge sentiment to see if crypto investors may be accumulating or distributing tokens.
www.viewbase.com www.viewbase.com
 
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Music mogul Russell Simmons is diving into NFTs with a 'Masterminds of Hip Hop' project curated with Snoop Dogg

Def Jam Recordings founder Russell Simmons is moving into the nearly $800 billion NFT market with a project centered on pioneers in the hip hop music industry and curated with rapper and NFT collector Snoop Dogg.
Official sales for the "Masterminds of Hip Hop" collection will go live on October 10, with presales already running on the website of Paybby, a startup digital bank and fintech company. Simmons also teamed up with Tokau - a sales platform for non-fungible tokens - on the project which is a two-part collection that will have at least 40 NFTs and will include never-before-released recordings.
A "respect for the founding fathers of hip hop needs a reboot," Simmons was quoted as saying by DeCrypt on a Zoom call Tuesday discussing his motivation behind entering the NFT space. The market has boomed in popularity over the last year, with its valuation climbing to around $768 billion as of Wednesday, according to CoinMarketCap.
The first group of 27 NFTs includes fan cards that resemble baseball cards emblazoned with images of Simmons, Chuck D, rapper Doug E Fresh and other artists and producers who drove the rise of hip hop, a genre that's morphed into a worldwide phenomenon from its roots in the Bronx in New York City.


615dbd3e9237a2001827ea17


Simmons and Snoop Dogg are among the many high-profile names who have jumped into the NFT space, ranging from singer Katy Perry, NBA team Golden State Warriors, and Twitter CEO Jack Dorsey who sold his first-ever tweet as an NFT for $2.9 million. He donated the money to charity. Snoop Dogg's ventures into the world of NFTs were highlighted by his claim last month that he's behind an influential NFT account on Twitter called CozmoMedici.
People buying NFTs gain the rights to their unique tokens on a blockchain. People buying from Simmons' collection can use debit or credit cards to pay for their purchase without buying and exchanging crypto, a tactic that DeCrypt said helped NBA Top Shot digital collectibles pull in mainstream collectors.
Paybby CEO Hassan Miah said the "Masterminds of Hip Hop" collection are BSC-20 tokens on Binance Smart Chain, responding to a viewer on Tuesday's call who noted high Ethereum gas fees associated with NFTs, the DeCrypt report said.
Many rappers and DJs who pioneered hip hop never received accolades or financial benefits that should have come from their work, said Simmons.
"[This] is my chance to use a new vehicle to revisit and repay these amazing artists while they are still living," said Simmons in a statement in June.


markets.businessinsider.com

Music mogul Russell Simmons is diving into NFTs with a 'Masterminds of Hip Hop' project curated with Snoop Dogg

Simmons said the "Masterminds of Hip Hop" NFT collection is a way to "revisit and repay" pioneers of the globally popular music genre.
markets.businessinsider.com markets.businessinsider.com

EXCLUSIVE NFT COLLECTION
MASTERMINDS OF HIP HOP
The first NFT collection created for and by the original pioneers of hip hop.
Featuring iconic music artists.

paybbynft.com

The Masterminds

in this exclusive fan card NFT, audiences can hear snippets of DJ Hollywood and Eddie Cheeba on the mic performing to cheers from the party ground. The visual was taken at the by invite only exclusive launch event held in the time of the Covid pandemic on
paybbynft.com paybbynft.com
 
gene cisco

gene cisco

Not A BGOL Eunuch
BGOL Investor
darth frosty said:








FBW22BCWUAcYHUf
Click to expand...

Yeah, like I said earlier, SOME republicans seem to be on this shit. Can't think of any major democrats that talk sensibly on the topic. For example, it's scary to listen to Warren talk crypto. I hate Cruz, but listening to him I'd swear he got an alter ego on crypto twitter. But damn he on it with this energy breakdown with BTC mining.

Cruz sees the potential future here. Bitcoin is the ultimate hard money. There aren't any hard money democrats on planet earth. There are some hard money diehards on the republican side. This a battle that has been going on for a long time. Watch how these political narratives play out.
 
E

Efkie

International
International Member
Madrox said:
Same as far as my crypto plan (+ADA & MANA).

Re: Gold.. I starting accumulating/ holding a little cash the last 6 months -- on the side of my normal DCA'ing -- in an effort to take advantage and buy more into my high conviction stocks and crypto, in the even the market truly goes to shit.

BUT, having never experienced a full crash, I have a hard time understanding whether or not keeping that cash in gold (or some type of fixed income?) is a better idea. In order to get some gains in the interim..

How do gold, metals... or even bonds behave in a crash? Is there anything that is truly rock solid or better yet inverse, during a crash? I know there are inverse ETFs, but they seem to LOSE while waiting for a crash..
Click to expand...

The GFC 2008 crash was different (took longer to reach the bottom) then the COVID march 2020 one.
In the last crash everything went down. A reason was the forced selling by the big boys to meet margin requirements.
This had an cascading effect of pushing prices down more deeply in most asset classes. Billy's timing to short was impeccable.

Either you keep your positions (maybe add to them if you have conviction), sell, short or you hedge them.
Also one might not want to sell for TAX reason.

The case for owning a little gold is purchasing power & insurance. Not speculation IMO
Notice that several country's have repatriated their gold. It probably has something to do with the debasement of the dollar.
If you're a holder of US DEBT then your not happy with all the money printing.
 
Madrox

Madrox

Vaya Con Dio
BGOL Investor
Efkie said:
The GFC 2008 crash was different (took longer to reach the bottom) then the COVID march 2020 one.
In the last crash everything went down. A reason was the forced selling by the big boys to meet margin requirements.
This had an cascading effect of pushing prices down more deeply in most asset classes. Billy's timing to short was impeccable.

Either you keep your positions (maybe add to them if you have conviction), sell, short or you hedge them.
Also one might not want to sell for TAX reason.

The case for owning a little gold is purchasing power & insurance. Not speculation IMO
Notice that several country's have repatriated their gold. It probably has something to do with the debasement of the dollar.
If you're a holder of US DEBT then your not happy with all the money printing.
Click to expand...

Word up. Ackman was fortunate with his timing and foresight. It's crazy how leverage and margin can have such a gravitational pull in either direction (whether your bet goes well or flops). That article about the rush for nations to repatriate gold was also interesting as hell.. def makes sense.

I still can't wrap my head around CDS/ Mortgage backed securities man... at a certain level, I find myself wondering how the hell some of these instruments are legally considered "investable". But I chalk it up to it just being beyond my understanding. I try to keep my investment plans w/ in my circle of competence...if and until I expand my comfort zone when it comes to certain areas..

My long term holdings, I've trimmed down to only the heaviest-conviction assets (and view them AS assets), plan to hold through w/e market conditions and buy more for foreseeable future (unless the fundamentals change). So I'll likely just be patient and stay accumulating some dry powder to that end. Instead of trying to get cute with the cash position :lol:

Appreciate the feedback brotha.
 
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BGOL Investor
Troll Jamie Dimon questions 21 million bitcoin cap




Jamie Dimon, the CEO of the largest U.S. bank, took another jab at bitcoin bulls on Monday, alleging that the cryptocurrency may not be limited in quantity.
“I'll just challenge the group to one other thing: how do you know it ends at 21 million? You all read the algorithms? You guys all believe that? I don't know, I've always been a skeptic of stuff like that,” said the JPMorgan Chase (JPM) CEO at an Institute for International Finance event on Oct. 11.
The price of bitcoin was hovering around $57,000 as of Monday morning.
Dimon was questioning the key basis of bitcoin: a 21 million coin cap that gives the asset the appeal of a controlled supply.
But the bitcoin code clearly notes that the maximum number of coins is 21 million. In theory, the open source nature of the bitcoin code would allow for changes to that cap, but it would require sign off from a large share of Bitcoin “nodes” that host and run the software.
The 21 million coin cap serves as a major pillar of the cryptocurrency’s value proposition, making it unlikely that the community would ever move to change that.



Dimon said that he still feels bitcoin is “worthless,” but elaborated that his opinions on cryptocurrency do not determine JPMorgan Chase’s approach to offering crypto products. The CEO said that the bank can offer clients some "legitimate" access to the crypto space if they want (although the bank isn't offering custody services).
The CEO’s remarks echo his commentary from May, when he compared the rising asset class to the business of banking weed.
"My own personal advice to people is: stay away from it. That does not mean the clients don't want it,” Dimon told Congress on May 27. “This goes back to how you have to run a business. I don't smoke marijuana but if you make it nationally legal, I'm not going to stop our people from banking it."
Although JPMorgan Chase is not offering crypto custody at the moment, the bank is toying around with blockchain technologies through its “Onyx” business. The bank is building up a network that it has started using to trade smart contracts with other banks.

finance.yahoo.com

JPMorgan CEO Jamie Dimon questions 21 million bitcoin cap

JPMorgan Chase CEO Jamie Dimon took another jab at bitcoin bulls on Monday, questioning the cryptocurrency's 21 million coin cap.
finance.yahoo.com finance.yahoo.com
 
gene cisco

gene cisco

Not A BGOL Eunuch
BGOL Investor
Efkie said:
The GFC 2008 crash was different (took longer to reach the bottom) then the COVID march 2020 one.
In the last crash everything went down. A reason was the forced selling by the big boys to meet margin requirements.
This had an cascading effect of pushing prices down more deeply in most asset classes. Billy's timing to short was impeccable.

Either you keep your positions (maybe add to them if you have conviction), sell, short or you hedge them.
Also one might not want to sell for TAX reason.

The case for owning a little gold is purchasing power & insurance. Not speculation IMO
Notice that several country's have repatriated their gold. It probably has something to do with the debasement of the dollar.
If you're a holder of US DEBT then your not happy with all the money printing.
Click to expand...
Madrox said:
Word up. Ackman was fortunate with his timing and foresight. It's crazy how leverage and margin can have such a gravitational pull in either direction (whether your bet goes well or flops). That article about the rush for nations to repatriate gold was also interesting as hell.. def makes sense.

I still can't wrap my head around CDS/ Mortgage backed securities man... at a certain level, I find myself wondering how the hell some of these instruments are legally considered "investable". But I chalk it up to it just being beyond my understanding. I try to keep my investment plans w/ in my circle of competence...if and until I expand my comfort zone when it comes to certain areas..

My long term holdings, I've trimmed down to only the heaviest-conviction assets (and view them AS assets), plan to hold through w/e market conditions and buy more for foreseeable future (unless the fundamentals change). So I'll likely just be patient and stay accumulating some dry powder to that end. Instead of trying to get cute with the cash position :lol:

Appreciate the feedback brotha.
Click to expand...
Where you cats getting your physical gold? I swear after what I learned about money in the last year, I look at cash totally different. I do know everything I researched on gold says to own the actual gold, not the derivatives(similar to crypto...not your keys, not your coins). I just don't trust any fucking IOUs.

I feel you on wrapping your head around this shit. I been studying crazy hardcore for a year now and realize just how deep this is. As with any field, experts don't agree which makes it even more challenging. It's a lifelong process man. Sad that I know more than anyone in my family and immediate circle and still don't know shit. :smh: And I'm talking some educated people. Finance is just some other shit that a lot of people who earn great money don't usually understand.

Crypto was a great intro to the game.
 
T.H.E. Brew$er

T.H.E. Brew$er

Rising Star
BGOL Investor
Venom said:
What is best way to cash out Crypto.com if any of my tokens 1000x? I understand taxes and stable coins but I'm not sure about minimizing the broker withdrawal fees.
Click to expand...

1. Order the Crypto.com debit card

2. Activate the card

3. Sell assets for stable coins of your choice (record gains as necessary)

4. Fund the card with USDT/USDC/DAI or any other stablecoin

5. Spend as you see fit

6. Repeat 3 thru 5 as necessary

cash out process complete

PS

you can also link a US bank account and send cash from Crypto.com to said bank account.
 
T.H.E. Brew$er

T.H.E. Brew$er

Rising Star
BGOL Investor
babydaddy said:
What platform can ZIL be trades on. It's not on coinbase yet
Click to expand...

To get an idea of where any coin can be purchased

1. go to coingecko.com

2. enter coin ticker in the search window

3. when coin page loads, scroll dow and look for "Markets"

4. Look over exchanges identified to determine which one suits your needs best.

PS

You can gain access to Bitmart with only an email account if one connects with a VPN...
 
Basetip

Basetip

Rising Star
BGOL Investor
T.H.E. Brew$er said:
To get an idea of where any coin can be purchased

1. go to coingecko.com

2. enter coin ticker in the search window

3. when coin page loads, scroll dow and look for "Markets"

4. Look over exchanges identified to determine which one suits your needs best.

PS

You can gain access to Bitmart with only an email account if one connects with a VPN...
Click to expand...
Same as above also with CoinMarketCap.com...
 
APOPHIS

APOPHIS

Autodidact / Polymath
Platinum Member
T.H.E. Brew$er said:
1. Order the Crypto.com debit card

2. Activate the card

3. Sell assets for stable coins of your choice (record gains as necessary)

4. Fund the card with USDT/USDC/DAI or any other stablecoin

5. Spend as you see fit

6. Repeat 3 thru 5 as necessary

cash out process complete

PS

you can also link a US bank account and send cash from Crypto.com to said bank account.
Click to expand...

Great advice. :cool:
 

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