After being a participant in 2017 I have a hard time getting excited about pretty much any crypto that’s not BTC. I just don’t foresee a future where there are lots cryptos being used.
What is the current thinking on how Crypto behaves in a recessionary environment / equity sell off? I would assume it gets hit harder than equities but maybe I’m thinking incorrectly on that
if people are in truly hard times and they need to liquidate assets to pay bills then I imagine crypto will be sold before people dip into their traditional investments.
Didn’t follow equities but looks like March was a 68% drop from Feb Edit: looks like world equity market dropped only 33% sooo...????
Not sure what your question is. In a massive liquidation event, btc sold off like every other asset class and had even more of a drop off. It very quickly recovered and then did something like 300+% in 2020.
Why Not being a dick just curious. Isn’t it a “payment platform” or am i confusing it with something else?
I am still learning all the details myself and I'm far from a programmer. In short here is what I have concluded. The main creator of Cardano originally helped create ETH. Many experts believe Cardano will compete with ETH in the future at it will have the ability to connect all cryptocurrencies. These smart contracts need to be very secure and reliable. Cardano is taking a build slowly approach. They are still laying the foundation from what I understand for future security and longevity. Also, they are launching the 3rd phase Goguen in March, this is a big update from the experts. Also, with it being around 80 cents it has a ton more room to Moon compared to BIT or ETH. I picked some up around 30 cents and its all-time high is around 1.20. A lot of people think once Cardano hits its all-time high, the sky is the limit. Below are two videos from guys that are 10 times smarter than me in crypto, hopefully this gives some more perspective. https://blockchain.news/analysis/ad...ercent-as-cardano-goguen-update-set-for-march Researchers at Binance Academy confirmed the smart contract integration of the Goguen update in a report: ”As of December 2020, functional smart contracts cannot be deployed on the blockchain platform. As part of the roadmap, this will roll out as a part of the Goguen update. Following Goguen, the Basho era focuses on optimization of scalability and interoperability, and the Voltaire era introduces a treasury system to address governance.”
I won’t pretend to know anything about cardano, but I will address the unit cost bias point. There are 31.1 billion ADA. The fact that it is at 80 cents has absolutely nothing to do with whether it has more room to go up than btc or eth. No coin is “cheap” or has more room to go up solely because it is priced low in comparison to btc or eth.
It is a combo meal. Getting more mainstream attention, fundamentals, security and price point. That is why I think from a % standpoint, ADA will outperform BIT and ETH for the year. BIT and ETH are supposed to have a hell of a year, at least until fall.
Hahaha cardano is a zombie you know the bull market is here when people are falling for the narrative again
I have a few friends that are in around .30 swearing on ADA, the smart contracts, the expansions in Africa, etc etc. They seem to view them being super slow as a positive. I don’t really follow crypto much but checked in today to see if there was cardano discussion.
Out of curiosity, who are the top crypto guys? And I’m not saying this is the case, but countless alts have been in the top 10 or 20 of market cap over the years with similar narratives about a rockstar development team, partnerships with XYZ government or company, etc. Few, if any, have ever survived, and the long term price charts against btc are all ugly. Basically be careful if you’re dabbling in alts with any serious amount of money. Gun to my head, eth is the only other thing I wouldn’t feel awful holding for more than a year.
For the record I'm not trying to be a dick, I lost I think like $1500 on bullshit alt coins in 2017. On one level its whatever, not every investment can win, on the other I was super annoyed because when doing my due diligence I felt like a lot of the coins I was investing in either A.) were more marketing bullshit than substance or 2.) The exact same as a bunch of other coins albeit with random functionality qualifiers for x, y, or z. Despite doing nothing different. Like "fast transactions with proof of stake for dog biscuits!" and another coin is pimping "fast transactions with proof of stake for cat collars!" In my head I was thinking, "why do these need to be different coins?" but there were "people smarter than me" shilling all these coins so I dabbled, In hindsight I would have actually turned a profit sticking to the three coins I actually saw use cases for, BTC, LTC, and ETH but FOMO struck I guess. All this is to say I don't know what has demonstrably changed from 4 years ago that all the sudden makes niche coins more useful than the more well known and established options. All that said I hope everyone ITT gets their crypto lambo by 2022.
There are a lot more actual products that are working and generating revenue this cycle than last time, but there’s still like 50 takes on each concept and none very meaningfully different so that hasn’t changed. Last cycle things were going 100x without even have launched..maybe we get there anyway though later in the year
Maybe the two best forecasters in the business right now for BTC And this is probably the best point here we should all take note of: -the overcollateralization model of lending in crypto means there will be a bigger supply shock this cycle than ever before, because you have more locked up than you can lend out. the parabola will be steeper than before
No one knows. The Tesla news and move was obvious. We’re just trading in a pretty normal range at the moment and sometimes btc moves up or down a good bit for no clear reason. Only factual answer to your question is that there’s more demand than supply.
With the caveat that I am a believer in BTC, whenever I see expert analysis from guys named “Plan B” I can’t help but see myself years down the road saying “well, yeah, I guess there were some warning signs.”
He’s anonymous because he didn’t want to fuck with his job. We’ll see soon enough, but his stock to flow models call for $100k to $288k this cycle.
See, that doesn't really make me feel better. It's not like top equities analysts are doing it as a side hustle. I know that's not apples-to-apples, but there's an amateur feel to a lot of crypto forecasters that makes me uneasy. Not too uneasy to invest, but uneasy nonetheless. I like the message a lot more than the messengers, I guess.
Ehh I see it a bit differently with the increasing need for anonymity in his particular case, but understand where you're coming from.
I Guess my point is you're going to see increasingly anonymous people rising in importance in crypto, rather than the reverse. So figure out how you're going to take that into consideration when evaluating opinions.
Fair enough. Plenty of people in the space are public figures. But I’ll never fault anyone for wanting to be anonymous. He put out a few math models that he thinks are predictive. His focus has only ever been on the math behind the models. I see no need for him to be public in order to discuss or debate the underlying math and accuracy of his models.