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Epic Pennant on BTC Chart


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56 minutes ago, NMNR said:

Wow - 15%!? I would only expect that if there's a seismic shift from BTC to ETH (which is happening...but at a dwindling pace).

The number of crypto now and 2017 is different + rise in defi and interop projects. I do not take dominance between alts and btc as somewhat serious, it obvious that alts eventually overtake simply by number.

Currently stablecoins alone hold ~100B mc.

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2 hours ago, Plikk said:

Yes, 12-15% is my target. We’ve seen 36% in the last cycle, It seems only logical with the amount of new successful alts and BTC focus shift to ETH, that dominance will get struck down to such levels. People and businesses are starting to appreciate actual functionality over blockchain SoV hype. 
 

Remember it is a target, it can get hit in a day and mark the bottom, then shoot back up to 30%+ in a matter of days/weeks. That’s what I expect. 

I think we have a bit of hysteria to go before BTC dominance gets that low. I don't think Bitcoin is anywhere near the top yet. I'd expect Bitcoin to go on another push once the alts stabalize out of the current surge. Bitcoin and most alts will definitely hit new ATHs again this year.

Edited by AlejoMoreno
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10 hours ago, Plikk said:

it can get hit in a day and mark the bottom, then shoot back up to 30%+ in a matter of days/weeks.

Right on. I had a trader tell me not to long ago: "give it a target, but not a timeframe, or give it a timeframe, but not a target"

 

10 hours ago, Plikk said:

It seems only logical with the amount of new successful alts and BTC focus shift to ETH, that dominance will get struck down to such levels.

I agree. There have been some very successful corporate driven coins. I wonder if BTC will ever reach those 60%+ levels again. How do you see this?

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2 hours ago, Nat99 said:

Right on. I had a trader tell me not to long ago: "give it a target, but not a timeframe, or give it a timeframe, but not a target"

 

I agree. There have been some very successful corporate driven coins. I wonder if BTC will ever reach those 60%+ levels again. How do you see this?

60% has been a longer consolidation period for dominance, so that would be a pretty logical target. It mostly depends on if we do get a massive alt season, crash and fleeing to BTC again at the end of the cycle. Maybe this time around, people rather flee into DeFi and actually earn passive income during a bearmarket, further diminishing BTC’s importance. 

Edited by Plikk
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On 8/11/2021 at 12:54 AM, Nat99 said:

Interesting. There are coins one can stake that have no slashing. Theta, Tfuel and Mina, to name three that I have and stake. You always control your funds. With Theta/Tfuel the staking pool (I use gpool.io) can only send the coins back to the address they were delegated from. 

Polkadot can be slashed, so I only stake a little with Kraken. It's like 12% per year,, which is pretty solid. Mina is around 20%.

I'm slow to come around to it.  Eventually I guess I will.  I realize I'm missing out on interest but I'm not 100% convinced of the safety yet.

On 8/11/2021 at 12:03 AM, BillyOckham said:

“Bitcoin is Freedom, Bitcoin is the Future”.

Freedom - Bitcoin is uncensorable and unconfiscatable.  Once you have a little piece of a bitcoin you can transact with across borders without the interference of governments.  You can leave your home and travel across the world taking your wealth with you by remembering your seed phrase and no one would even know.  Gold in a vault can be seized, Money in a bank can be seized, Stocks can be seized, Money hidden in your pocket can be inflated away - Bitcoin cannot be seized without the help of the owner.

Future - Financial firms are offering more products around bitcoin and are beginning to offer custody,  everyday that goes buy more and more firms are moving into Bitcoin.  El Salvador has made Bitcoin legal tender and other countries in South America will follow along with countries in Africa.  I think it's pretty obvious that the Bitcoin universe is expanding year over year. I see no reason why Bitcoin will not continue to grow.

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1 hour ago, Eric123 said:

Freedom - Bitcoin is uncensorable and unconfiscatable.  Once you have a little piece of a bitcoin you can transact with across borders without the interference of governments.  You can leave your home and travel across the world taking your wealth with you by remembering your seed phrase and no one would even know.  Gold in a vault can be seized, Money in a bank can be seized, Stocks can be seized, Money hidden in your pocket can be inflated away - Bitcoin cannot be seized without the help of the owner.

Future - Financial firms are offering more products around bitcoin and are beginning to offer custody,  everyday that goes buy more and more firms are moving into Bitcoin.  El Salvador has made Bitcoin legal tender and other countries in South America will follow along with countries in Africa.  I think it's pretty obvious that the Bitcoin universe is expanding year over year. I see no reason why Bitcoin will not continue to grow.

100% right Eric.  When it comes transferring 10k and over, it is really difficult these days with the banks asking you a zillion questions, and making it extremely difficult.  At least with Bitcoin, you can transfer 10k+ without any hassles. I love that part of Btc.

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1 hour ago, Eric123 said:

I see no reason why Bitcoin will not continue to grow.

politics aside, even the recent infrastructure bill and the associated attack on BTC will prove to be a Streisand Effect, just like bitcoin magazine pointed out in a very recent article.

It's all about adoption. It will be political suicide to be campaign BTC, when a third of your population owns it, which might very well be the case before the next US election. Max Keiser said it - we might have a Bitcoiner in the White House by 2024.

Again, no politics here, just game theory.

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28 minutes ago, dtpace said:

100% right Eric.  When it comes transferring 10k and over, it is really difficult these days with the banks asking you a zillion questions, and making it extremely difficult.  At least with Bitcoin, you can transfer 10k+ without any hassles. I love that part of Btc.

Couldn't you replace "BTC" with "cryptocurrency" or at least a long list of other cryptocurrencies? It's not just BTC you can do this with. 

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8 hours ago, Plikk said:

during a bearmarket

Have you seen Willy Woo's recent on-chain analysis? He makes the case for this being the last cycle. We'll see about that, but I have a feeling that the daily-DCA movement is gaining ground and it might just be that stubborn everyday buying by a price-ignorant retail crowd will avert a 2018-like bear market. Maybe we won't see 80%+ corrections again and more something like the May 2021 action. Any thoughts on this? Thanks for your inputs, highly appreciated.

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4 minutes ago, RipMcGillicuddy said:

Couldn't you replace "BTC" with "cryptocurrency" or at least a long list of other cryptocurrencies? It's not just BTC you can do this with.

That is fair to say. Sometimes I use XLM to transfer to my Kucoin wallet and that is quick.

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26 minutes ago, RipMcGillicuddy said:

Couldn't you replace "BTC" with "cryptocurrency" or at least a long list of other cryptocurrencies? It's not just BTC you can do this with. 

I don't think so, at least not at this point.  Bitcoin is just dragging the rest of the industry with it.  It's basically Bitcoin and everyone else.  

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49 minutes ago, Eric123 said:

I don't think so, at least not at this point.  Bitcoin is just dragging the rest of the industry with it.  It's basically Bitcoin and everyone else.  

It is objectively far beyond what you claim...but I was specifically referring to the comment on moving money around the globe. BTC is far from the only crypto you can do that with. In fact, it is less efficient than many others in doing that one thing specifically. 

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3 hours ago, RipMcGillicuddy said:

It is objectively far beyond what you claim...but I was specifically referring to the comment on moving money around the globe. BTC is far from the only crypto you can do that with. In fact, it is less efficient than many others in doing that one thing specifically. 

When it comes to things like this, the "best idea" or "best technology" isn't necessarily the one that wins.


All that is needed is:

1. People  accept something as a good enough alternative to what they are doing now and feel no need to investigate other options.

2. People are alreay using something because it was the first idea they knew about and getting people to swtich to something else wouldn't provide more benefit than the cost and risk ,they would have to incur to switch.

 

Bitcoin is a huge improvement over fiat currency even if there are other crpyotcurrencies that could work better. There are also so many people getting onboard with Bitcoin that it would take something significant in order to make people leave Bitcoin and go to another cryptocurrency.

 

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1 hour ago, AlejoMoreno said:

When it comes to things like this, the "best idea" or "best technology" isn't necessarily the one that wins.


All that is needed is:

1. People  accept something as a good enough alternative to what they are doing now and feel no need to investigate other options.

2. People are alreay using something because it was the first idea they knew about and getting people to swtich to something else wouldn't provide more benefit than the cost and risk ,they would have to incur to switch.

 

Bitcoin is a huge improvement over fiat currency even if there are other crpyotcurrencies that could work better. There are also so many people getting onboard with Bitcoin that it would take something significant in order to make people leave Bitcoin and go to another cryptocurrency.

 

 @AlejoMorenonice to see you back, my friend…… I hope all is well with you my friend 👍🏻

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13 hours ago, AlejoMoreno said:

When it comes to things like this, the "best idea" or "best technology" isn't necessarily the one that wins.


All that is needed is:

1. People  accept something as a good enough alternative to what they are doing now and feel no need to investigate other options.

2. People are alreay using something because it was the first idea they knew about and getting people to swtich to something else wouldn't provide more benefit than the cost and risk ,they would have to incur to switch.

 

Bitcoin is a huge improvement over fiat currency even if there are other crpyotcurrencies that could work better. There are also so many people getting onboard with Bitcoin that it would take something significant in order to make people leave Bitcoin and go to another cryptocurrency.

 

Reminds me of Betamax and vhs, beta seemed to have the better product but VHS had advertising and the backing and the rest is history 😬

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