Let's talk about Cryptocurrencies - Page 53 - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

PsYcNeT · 03-08-2021, 09:48 AM

Lmao the $500 USD that a .01 BTC currently equivocates would have to multiply 2000 times to get you to "filthy rich" territory. I don't see BTC inflating to $10,000,000 per to achieve that, call me crazy.

topfiverecords · 03-08-2021, 10:00 AM

I know everyone will have a different definition of rich, but $100,000 doesn’t seem “filthy”.

$10M per .01 would be filthy rich in my books. $1M per 0.01 would be rich. $100k = you got some money.

jar_e · 03-08-2021, 10:04 AM

Quote:

Originally Posted by MonsieurFish

Hi All - I'm new to the crypto game but have just started dipping in the last couple of weeks. I'm wondering if anyone could provide any insight on wallets? Right now all of my coins reside in Binance - are they secure there, or do I need to buy a wallet (hardware wallet)? Any information or recommendations are much appreciated - thanks!

I wouldn’t leave any coins on an exchange, especially Binance. I’d recommend Exodus wallet and with the option of a Ledger cold wallet. Make sure to keep your passcodes safe, duplicated and secured.

1_Flames_Fan · 03-08-2021, 11:44 AM

My ADA value really seems to be tied to the value of BTC at any given time. Oh well, I'm hanging on till the next sell high opportunity then buy low again...rinse repeat. Been adding to my amount of ADA that way for a bit now.

worth · 03-08-2021, 12:33 PM

I honestly have no idea what that article is saying, maybe I'm not smart enough to understand, but I do know that the current BTC market cap is $947B. In order to support .01BTC making you a millionaire, the market cap would need to expand 2,000 times which would bring us to a $1 quadrillion 894 trillion market cap for BTC alone.

dino7c · 03-08-2021, 01:16 PM

If BTC goes 2000x I will donate 100 Million dollars to CP and we can vote on which charities to divide it up to

karl262 · 03-08-2021, 02:45 PM

Quote:

Originally Posted by 1_Flames_Fan

My ADA value really seems to be tied to the value of BTC at any given time. Oh well, I'm hanging on till the next sell high opportunity then buy low again...rinse repeat. Been adding to my amount of ADA that way for a bit now.

I'd say not so much as the other top ten cryptos. There's been many times in the past year that BTC and ADA would move in opposite directions or move disproportionately.
In the last 12 months ADA is up 2100%, BTC is up 468%.

Sent from my SM-G973W using Tapatalk

PsYcNeT · 03-08-2021, 02:56 PM

Quote:

Originally Posted by worth

I honestly have no idea what that article is saying, maybe I'm not smart enough to understand, but I do know that the current BTC market cap is $947B. In order to support .01BTC making you a millionaire, the market cap would need to expand 2,000 times which would bring us to a $1 quadrillion 894 trillion market cap for BTC alone.

Yeah here's a decent "market cap calculator". The logistics and likelihood for alt coins going to BTC levels (or BTC expanding 2000x) seems pretty ridiculous.

https://thecoinperspective.com/

worth · 03-08-2021, 03:14 PM

hallelujah, I think that site should be bookmarked at the top of each page. People really need to understand how you need to look at the price of a coin in context of the market cap.

Yoho · 03-08-2021, 06:19 PM

https://twitter.com/user/status/1369088822114451459

“This space will not be a $1.7 trillion ecosystem as it is today but a multi-hundred trillion dollar ecosystem eventually. You can embrace change or fight it, but you owe it to yourself to understand it as the pace of innovation is going exponential too.”

PsYcNeT · 03-08-2021, 07:43 PM

100+ trillion market cap still doesn't project 2000x growth, it only projects ~50x growth from it's current levels, there would still be a requirement that the coin's market cap expands 50+ times, and ascends in valuation another 40 times.

topfiverecords · 03-08-2021, 08:07 PM

Quote:

Originally Posted by dino7c

If BTC goes 2000x I will donate 100 Million dollars to CP and we can vote on which charities to divide it up to

No chance you can control yourself to hold on that long.

GGG · 03-08-2021, 08:09 PM

The substitution affect has to limit the Max value of Bitcoin at some level doesn’t it?

DownhillGoat · 03-08-2021, 08:23 PM

Quote:

Originally Posted by topfiverecords

No chance you can control yourself to hold on that long.

PsYcNeT · 03-08-2021, 08:42 PM

I think it's also worth noting that there is no altruistic motivation behind people like Musk or Pal singing the praises of coins or making their thoughts public; in either case it's blatant market manipulation in attempts to bolster their own coffers, and in Pal's case it's unindictable market manipulation because he lives in the goddamn Cayman Islands.

Definitely a place where people who are on the level with their money live.

dino7c · 03-08-2021, 11:53 PM

Quote:

Originally Posted by topfiverecords

No chance you can control yourself to hold on that long.

Certainly not all of it...I have quite a bit of BTC though

dino7c · 03-09-2021, 12:01 AM

Quote:

Originally Posted by karl262

I'd say not so much as the other top ten cryptos. There's been many times in the past year that BTC and ADA would move in opposite directions or move disproportionately.
In the last 12 months ADA is up 2100%, BTC is up 468%.

Sent from my SM-G973W using Tapatalk

Kinda apples and oranges though...we are talking something more established Vs. something newer trying to gain traction.

a few years back Bitcoin went for 8 cents to 32 dollars in one year. When ADA gets to its $5-$10 price target it will follow BTC closer IMO

accord1999 · 03-09-2021, 01:27 AM

Quote:

Originally Posted by topfiverecords

No chance you can control yourself to hold on that long.

I'm holding till I can buy the Flames and let Calgary Puck crowd-GM and coach it.

Raekwon · 03-09-2021, 09:00 AM

Quote:

Originally Posted by dino7c

If BTC goes 2000x I will donate 100 Million dollars to CP and we can vote on which charities to divide it up to

I vote for the Human Fund

The Fonz · 03-09-2021, 09:31 AM

Quote:

Originally Posted by PsYcNeT

I think it's also worth noting that there is no altruistic motivation behind people like Musk or Pal singing the praises of coins or making their thoughts public; in either case it's blatant market manipulation in attempts to bolster their own coffers, and in Pal's case it's unindictable market manipulation because he lives in the goddamn Cayman Islands.

Definitely a place where people who are on the level with their money live.

Exactly.

It's remarkable that people are confusing the crypto market manipulation of the extremely wealthy crowd as them actually believing in the product. It's market manipulation, and it's too easy & rewarding for them to pass up - that's it.