Let's talk about Cryptocurrencies - Page 42 - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

Raekwon · 02-10-2021, 11:31 AM

Quote:

Originally Posted by Azure

I'm 100% certain that BTC will hit $100k at some point.

I also am 100% certain you should not invest more than 5% of your savings into it.

I've been waiting for the next crash to jump in, people can say it won't crash but why did it crash last time? I watched a video last night and they explained that Bitcoin isn't feasible to use as a daily currency as the chain couldn't keep up with that many transactions and also that the last bitcoin would be mined in 2078 and at that point people would stop mining it causing the block to stop processing and they were trying to find ways to deal with both the above.

I have to agree that BTC will be more of a long term storage currency like gold and another crypto will have to come in and take over as the daily transaction currency. What will it be? who knows i'm equally fascinated and scared of it all at the same time.

Fuzz · 02-10-2021, 11:40 AM

I think ultimately if Bitcoin sticks around, it's going to have to migrate to a new platform. It just has to many inherent flaws, like it's power consumption. Perhaps the whole thing shifts to a new system and just "imports" Bitcoin into it to keep the legacy name and value. I'm not sure if that is technically feasible, but as is it doesn't seem sustainable.

Table 5 · 02-10-2021, 03:50 PM

Quote:

Originally Posted by Winsor_Pilates

Any of you invest in QBTC instead of Bitcoin directly?
To do so inside you TFSA?

I do this for the reason you mentioned (although I also just have pure BTC). The premium is pretty high, but it allows exposure in retirement accounts like TFSAs. I have mine an IRA. I tend to hodl the BTC, but trade in and out of QBTC a bit to take advantage of the volatility.

karl262 · 02-10-2021, 05:19 PM

Quote:

Originally Posted by Raekwon

I've been waiting for the next crash to jump in, people can say it won't crash but why did it crash last time? I watched a video last night and they explained that Bitcoin isn't feasible to use as a daily currency as the chain couldn't keep up with that many transactions and also that the last bitcoin would be mined in 2078 and at that point people would stop mining it causing the block to stop processing and they were trying to find ways to deal with both the above.

I have to agree that BTC will be more of a long term storage currency like gold and another crypto will have to come in and take over as the daily transaction currency. What will it be? who knows i'm equally fascinated and scared of it all at the same time.

I think Cardano is pretty neat. It's value has been increasing but not yet passed its 2017/18 bubble all time high. Its an ambitious project too that wants to be one of the best and secure blockchains to run dapps and tokenize assets for things like supply chain management and defi.

Sent from my SM-G973W using Tapatalk

Enoch Root · 02-10-2021, 09:28 PM

Quote:

Originally Posted by dino7c

Seven years to double lol, it will be 20x in 7 years

Doge is a meme...you might make some quick cash but make sure you sell

BTC is HODL

Sub 100, so how many coins do you have?

So you think it will be at $1.1M by 2028?

I'll take the under, and I'm there for size.

dino7c · 02-10-2021, 10:57 PM

Quote:

Originally Posted by Enoch Root

So you think it will be at $1.1M by 2028?

I'll take the under, and I'm there for size.

Yes, it honestly doesn't take much to get it there

jar_e · 02-11-2021, 10:08 AM

Another big boost today....

https://www.cnn.com/2021/02/11/inves...lon/index.html

Quote:

Mastercard is bringing bitcoin to the checkout counter.

The company announced late Wednesday that it will support "select cryptocurrencies" directly on its network at some point later this year.

"Our philosophy on cryptocurrencies is straightforward: It's about choice," Raj Dhamodharan, an executive vice president at Mastercard, wrote in a post late Wednesday. "Mastercard isn't here to recommend you start using cryptocurrencies. But we are here to enable customers, merchants and businesses to move digital value — traditional or crypto — however they want."

Visa already announced some crypto involvement earlier this year FWIW.

bootsnixon · 02-11-2021, 10:29 AM

Quote:

Originally Posted by Fuzz

I think ultimately if Bitcoin sticks around, it's going to have to migrate to a new platform. It just has to many inherent flaws, like it's power consumption. Perhaps the whole thing shifts to a new system and just "imports" Bitcoin into it to keep the legacy name and value. I'm not sure if that is technically feasible, but as is it doesn't seem sustainable.

I would guess the Bitcoin blockchain transactions will move from Proof of Work to Proof of Stake. This will effectively eliminate power consumption. I believe Ethereum is working towards this change. In turn, it could provide earnings to BTC holders.
As for transaction speed/volume, I believe developers are working towards offchain/side chain transactions. Being decentralized, blockchain changes can be cumbersome to implement but they do happen.
I do tend to agree with you though, it's likely a more currency based crypto will be used for daily transactions as people will be reluctant to spend their inflation hedge.
Sure are seeing alot of companies and investment groups getting involved. Now Twitter, MasterCard and Uber are talking crypto.

Enoch Root · 02-11-2021, 10:47 AM

Quote:

Originally Posted by dino7c

Yes, it honestly doesn't take much to get it there

Yes, all it takes is for people to think that it is worth 20X what it is currently worth - easy peezy

So would you like to make a bet?

topfiverecords · 02-11-2021, 11:46 AM

I know what will reach 20x easy peezy. dino7c posts telling us Bitcoin is going to go higher, and get in now before it's too late.

I TODLya sos will reach 10x.

dino7c · 02-11-2021, 12:34 PM

Quote:

Originally Posted by Enoch Root

Yes, all it takes is for people to think that it is worth 20X what it is currently worth - easy peezy

So would you like to make a bet?

Lol a bet, like $50?

If I am right I will be lighting cigars with $50s by then

Yoho · 02-11-2021, 02:20 PM

Nice little price prediction on XRP post SEC lawsuit (currently at around $.50 US)

https://twitter.com/user/status/1359915403292639244

Yoho · 02-11-2021, 02:35 PM

Quote:

Originally Posted by Enoch Root

So you think it will be at $1.1M by 2028?

I'll take the under, and I'm there for size.

Here’s a good explanation why it could go that high from three weeks ago.

https://twitter.com/user/status/1352716021535281153

Enoch Root · 02-11-2021, 06:29 PM

Quote:

Originally Posted by dino7c

Lol a bet, like $50?

If I am right I will be lighting cigars with $50s by then

I was thinking more like $1,000

Clearly, you'll be able to afford it

topfiverecords · 02-11-2021, 06:55 PM

Quote:

Originally Posted by Enoch Root

I was thinking more like $1,000

Clearly, you'll be able to afford it

You should bet one Bitcoin. I’ll be your escrow. Each of you give me one Bitcoin to HODL.

dino7c · 02-12-2021, 01:32 AM

Quote:

Originally Posted by Enoch Root

I was thinking more like $1,000

Clearly, you'll be able to afford it

So make a bet with some rando and maybe earn 1K in 7 years

or

Put another 1K in BTC and make 20k if I am right and less but still money if I am wrong

Obviously you guys are going to bump all my posts if it doesn't go my way...I am betting bragging rights just by posting. HODLING whole coins I bought for $1500 Canadian though I'm not too stressed. I have already 40x'd a large investment.

Anyway if you want a two year 10x buy ether...BTC is probably only 3X over the next couple years. Take my advice or don't, my track record speaks for itself.

PsYcNeT · 02-12-2021, 07:14 AM

Quote:

Originally Posted by dino7c

So make a bet with some rando and maybe earn 1K in 7 years

or

Put another 1K in BTC and make 20k if I am right and less but still money if I am wrong

Obviously you guys are going to bump all my posts if it doesn't go my way...I am betting bragging rights just by posting. HODLING whole coins I bought for $1500 Canadian though I'm not too stressed. I have already 40x'd a large investment.

Anyway if you want a two year 10x buy ether...BTC is probably only 3X over the next couple years. Take my advice or don't, my track record speaks for itself.

You think ETH will still hold it's value (or multiply) once ETH 2.0 drops?

bootsnixon · 02-12-2021, 08:26 AM

Quote:

Originally Posted by PsYcNeT

You think ETH will still hold it's value (or multiply) once ETH 2.0 drops?

I believe ETH will bridge into 2.0 so no change to holders of ETH and sure seems bullish to me as long as the transition is adequately staked ( shouldn't be a problem) and is glitch free.

GGG · 02-12-2021, 08:31 AM

Quote:

Originally Posted by dino7c

Lol a bet, like $50?

If I am right I will be lighting cigars with $50s by then

If you are right you might need $1000 bills to light the cigars with to have the same effect.

PsYcNeT · 02-12-2021, 09:28 AM

Quote:

Originally Posted by bootsnixon

I believe ETH will bridge into 2.0 so no change to holders of ETH and sure seems bullish to me as long as the transition is adequately staked ( shouldn't be a problem) and is glitch free.

You have $64,000/32 ETH to buy a deposit contract/become a validator?