Ethereum

[Ab]

It seems to have bounced off 1000 and is heading north again. Early days though.

[Lightspeed]

https://markets.businessinsider.com/...-market-2022-6

The smaller projects that fail will help strengthen the market, and the projects that flounder may eventually be regulated out of existence, O'Leary said. Such collapses can also help indicate when the crypto sell-off hits bottom, as a "defining capitulation" will signal the start of a rebound, he said.

Ultimately, the veteran investor isn't just betting on crypto or the blockchain, but the human resources that he sees piling into the sector.

"Look at an MIT graduating class of engineers," O'Leary said. "The smartest people want to work on the [block]chain. So you've got the majority of the best intellectual capital in the world solving poor outcomes on the chain — why wouldn't you expect that to work?"

Buy the dip, skip the shitcoins.

[Native]

Still buying my $50 bucks a week of ETH.

I spend twice that amount on fucking gas in a week & sometimes that much on lunch in Auckland CBD.


Hurts looking at total portfolio value though.

[Ab]

Yeah tough week.

ETH jumped 29% this morning though.

[DrTiTus]

Serious question: Do you have an exit price? Like, do you know how much you've spent, and what the price of ETH has to be before you start to lose?

When there are shortages of products in the world, people are losing their jobs, and no one can afford things - the last thing people want is a virtual currency that you can't spend.

Don't be a bag holder. Take your intial investment, gamble the profit. That's how you casino. Anything other than that is risky business.

[Ab]

Just noticed that we're not far off a flippening: USDC market cap is getting awfully close to that of Tether.

[Juju]

Originally Posted by DrTiTus

the last thing people want is a virtual currency that you can't spend.

But you can spend it, in numerous ways. Just depends what you mean by 'spend'.

Eth was never meant to replace or compete with fiat currencies.

[DrTiTus]

If you're gonna come at me with some specific limited definition of "spend", then you already admitted it's worthless.

[DrTiTus]

Originally Posted by Ab

It seems to have bounced off 1000 and is heading north again. Early days though.

Unless it gets past 1250 it's going nowhere. 1100 is the natural range for the immediate future.

[DrTiTus]

Originally Posted by Juju

Eth was never meant to replace or compete with fiat currencies.

It's a shitty VM that costs money and runs really slowly.

Buy my C64, it's faster, and cheaper.

[Ab]

Well the whole point is to buy it while it's shitty based on the probability that it will become not shitty. Nobody buys stock in a company based on PRESENT earnings, you buy based on the probability of FUTURE earnings.

[Ab]

Originally Posted by DrTiTus

Unless it gets past 1250 it's going nowhere. 1100 is the natural range for the immediate future.

Crossed 1250 this afternoon.

[Know me.]

Ethereum past earnings zero. Ethereum future earnings zero.

[Lightspeed]

I have a buddy who lives off staked earnings. Very careful how they pay taxes.

[DrTiTus]

Old Saylor still "buying the dip"

SEC Filing

As of June 28, 2022, MicroStrategy, together with its subsidiaries, held an aggregate of approximately 129,699 bitcoins, which were acquired at an aggregate purchase price of approximately $3.98 billion and an average purchase price of approximately $30,664 per bitcoin, inclusive of fees and expenses.

At the current price of ~20k/BTC, he's only down $1.4B.

I think he's crazier than Max Kaiser who at least got in early and has nothing to lose - I'm sure Max recouped his initial investment a long time ago, and now it's just a stupid game to him.

[Ab]

Originally Posted by DrTiTus

Unless it gets past 1250 it's going nowhere. 1100 is the natural range for the immediate future.

And 1100 is where it is right now.

[Lightspeed]

If the value of ETH drops (or your bankroll grows) to the point you can justify buying enough to stake your own node (32ETH), then do that.

You can get into staking with lower amounts, but if you're confident in running a node, this is the most no-nonsense way of getting a sustainable return from ETH.

The gamble is that the platform overcomes current and future hard problems on its way to becoming the global infrastructure it aspires to be. The fundamentals are still sound, but the problems are real. And every day more people are tackling them.

[Ab]

Originally Posted by DrTiTus

Old Saylor still "buying the dip"

SEC Filing

If one has USD 10 million to drop on BTC, now’s the time to do it. And he did.