poll [Trending] - Is the Crypto Sector About to Boom? - Thoughts...

[Eric Lyon]

As the title indicates, there's been a lot of waves lately in the news about the crypto sector and how it's about to BOOM!

For perspective:

According to the national survey commissioned by the Crypto Council for Innovation, an industry group backed by companies including Coinbase, Paradigm, Fidelity Digital Assets and Block, 52% of respondents said they wanted more regulation in the space. Only 7% said they’d want to see less regulation...

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That's right. Our mystery bachelor is Bitcoin (CRYPTO: BTC), which across that decade-and-a-half long stretch has been the most familiar and popular cryptocurrency. That's a fine position to be in these days since investors have eagerly been piling into all manner of digital coins and tokens since Election Day. As Bitcoin is the undisputed crypto leader it has rocketed to new heights. Might it even cross the $95,000 level by weekend's end?..

Source

Market data shows that Bitcoin has increased its price by 0.77% over the last 24 hours, currently trading at $68,550. Over that length of time, the price has oscillated between $67,600 and $69,325 — a variation of 2.55%. The current price is also over 5.6% lower than this week’s $73,460 high, following changes in the outlook for the upcoming United States presidential elections...

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President Donald Trump’s decisive victory all but ensures a pullback on crypto-related enforcement once he takes office. In July, Trump pledged to fire Gensler on the first day of his second administration while headlining a Bitcoin conference in Nashville. ..

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Reaching above $75,000 for the first time in its history, the cryptocurrency’s sudden surge came from Trump’s promise to support the crypto industry if elected. It marked a 50 per cent increase in bitcoin’s price since August...

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There are thousands of related articles across the internet like the ones quoted above, giving heavy speculation backed by data that the future is going to be bright for the crypto sector.

Even the Federal Reserve jumped on the band-wagon with the potential of CBDC:

While the Federal Reserve has made no decisions on whether to pursue or implement a central bank digital currency, or CBDC, we have been exploring the potential benefits and risks of CBDCs from a variety of angles, including through technological research and experimentation. Our key focus is on whether and how a CBDC could improve on an already safe and efficient U.S. domestic payments system...

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With an already budding Web3 (Crypto/Blockchain) handshake/Alternate root domain option in the market, it's quite possible that a BOOM in cryptocurrencies could also effect the domain industry with more specific/alternate payment options, additional handshake/alternate root extensions, additional payment gateway integrations with existing websites, etc...

For more Perspective:

One notable realm where cryptocurrencies exhibit significant potential is within the Domain Name Systems (DNS), an integral pillar of the internet infrastructure. Conventional DNS functions akin to a digital phone book, translating user-friendly website names into IP addresses essential for computer connections.

Blockchain domains serve as innovative solutions, essentially operating as a naming registry for crypto addresses. In the world of cryptocurrencies, where addresses are often lengthy and intricate, blockchain domains play a pivotal role in simplifying transactions. By associating a user-friendly name with a crypto address, these blockchain domains facilitate transactions that are not only more straightforward but also inherently more secure...

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With all the above in mind and a shift that's already being felt with Bitcoin's jump in value, share your thoughts on the Crypto Sector and cast your vote in the poll.

 

[alcy]

I think I first heard about bitcoin and read about wallets back when BTC was around $2-5. I considered buying $100 worth and wow had I held on, that would be incredible. Realistically though, the second that $100 investment was worth $200, I'd have cashed out giddy to quickly 2x my money. Especially back then. I just lack the diamond hands of the GME generation. Perhaps I'd have tried swing trading the currency.

I feel like it's an inadvertent pyramid scheme. Paypal was paying us $20, $10 and $5 to sign up 25 years ago. $5 to refer friends. It took a long time for mass adoption of online transactions and Bitcoin hasn't done that. This could be because it's decentralized and so Satoshi can't come out of the woodwork and say, "here's what we're doing."

It's not really a currency right now but mainly an investment. While you can engage in Forex and trade USD to GBP to EUR or whatever, those currencies are mainly used for transactions with speculation as a small role of their use. The opposite is true for BTC.

I feel like we're at an interesting place with BTC. I think because of its volatility, marketplaces aren't keen to adopt it. But speculators love BTC because of the chance for moonshots. The primary users of BTC are speculators though so it is unlikely they would want to stabilize the price of BTC although once mass adoption were to happen, I think the price would have to rise because of the increased need for everyone to own BTC.

u sum up real well what btc is to most.. either an oh wow I wish I held on to it back then.. or I wish i bought some back then.. or.. I wish I didnt buy and lose all that money..

that's majority.

minority has made some money.

in short btc to most is a very negative thing. very bad for them. or some I wish this or that dream which has nothing to do with reality. reality has no room for past wishes.

I'm not btc critic. I simply dont care. I'm only stating real facts. that to most btc is failure. and a win for the rest.

do yourself favor and stay far away from it. and from casinos.

 

[HotKey]

I think we can safely assume BTC has moved beyond speculation and now many of us just wish we got into it at the speculative (affordable) period.

 

[Altetra]

I m anticipating that moment when domainers will say "I wish we have invested in your secret, even at 100K it was too cheap, now we realize what a trillion opportunity it was back then" me later "well you were too preoccupied of other temporary niches" anyway let's wait and see, the time is nearing.

 

[Inframan]

There are approximately 20 million bitcoin in circulation as of 2024. Once the number of bitcoin in circulation reaches the 21 million supply limit, the protocol will no longer issue new bitcoin.

This is not an absolute limitation. This is manufactured scarcity making BTC a collectible similar to Beany Babys, Pokemon, Cabbage Patch Kids, Comic Books, Magic the Gathering, Bored Apes, ect.

Question - Why is BTC being white washed as this decentralized token? BTC's sole creation was to facilitate untraceable financial transactions on Silk Road. Somehow this gets ignored.

Satoshi is a figment of people's imagination.

BTC is going to play itself out like the movie Boiler Room. Working class people are going to cash out their 401K and purchase a fraction of a BTC. Then in the blink of an eye it's over. Back to poverty.

Or you could just mine BTC.

 

[JB Lions]

BTC's sole creation was to facilitate untraceable financial transactions on Silk Road. Somehow this gets ignored.

Bitcoin - 2009
Silk Road - 2011

That was the talk at the beginning, look at all the criminals using this and it's true but people act like criminals haven't been using cash and current system for all these years. So it all can be used for good and bad.

------------------------
Original White Paper - https://bitcoin.org/bitcoin.pdf

Book I started to read and need to finish. It's more about the history of money, finishing up with talking about Bitcoin.
https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861
--------------
I do think Bitcoin needs to be faster. I used it to pay for a VPN and it took about 30 minutes for the transaction to complete.
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Just checked, my average Buy Price:
Avg. buy price
$25,106.91

I bought a bunch when it dumped, so I'm in good shape, should do at least a 4x. It's hard for me to buy at this point, I've been DCAing into it (dollar cost average). But now I may just hold and see what happens. Like I said, it will dump again, so I'm thinking of selling it all when it goes over $100k. Then wait till it goes under 50K again.

 

[Inframan]

Bitcoin - 2009
Silk Road - 2011

That was the talk at the beginning, look at all the criminals using this and it's true but people act like criminals haven't been using cash and current system for all these years. So it all can be used for good and bad.

------------------------
Original White Paper - https://bitcoin.org/bitcoin.pdf

Book I started to read and need to finish. It's more about the history of money, finishing up with talking about Bitcoin.
https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861
--------------
I do think Bitcoin needs to be faster. I used it to pay for a VPN and it took about 30 minutes for the transaction to complete.
----------
Just checked, my average Buy Price:
Avg. buy price
$25,106.91

I bought a bunch when it dumped, so I'm in good shape, should do at least a 4x. It's hard for me to buy at this point, I've been DCAing into it (dollar cost average). But now I may just hold and see what happens. Like I said, it will dump again, so I'm thinking of selling it all when it goes over $100k. Then wait till it goes under 50K again.

I didn't know about BTC until it was $500 a coin. It's an asset class I'm not interested in. I know it's been discussed in this thread a domain and crypto are both digital assets. Back then there was no crypto exchange to purchase BTC. I have no idea how people obtained BTC other than someone giving it to you, or mining. The concept of digitally mining still goes over my head.

The difference is the formation of the URL wasn't created for money laundering or criminal conspiracy.

If you got into BTC while it was under $5000 you're up. My risk assessment didn't allow me to invest at $500. I don't have FOMO, I have peace of mind.

If there's a buyer for BTC at $91K then there's a buyer for a $500 - $5000 domain.

 

[Kyle Tully]

This is not an absolute limitation. This is manufactured scarcity making BTC a collectible similar to Beany Babys, Pokemon, Cabbage Patch Kids, Comic Books, Magic the Gathering, Bored Apes, ect.

Question - Why is BTC being white washed as this decentralized token? BTC's sole creation was to facilitate untraceable financial transactions on Silk Road. Somehow this gets ignored.

Satoshi is a figment of people's imagination.

BTC is going to play itself out like the movie Boiler Room. Working class people are going to cash out their 401K and purchase a fraction of a BTC. Then in the blink of an eye it's over. Back to poverty.

Or you could just mine BTC.

The bitcoin blockchain is a public ledger where anyone can trace every single transaction ever made. It's literally the dumbest way to conduct illegal activity. Many people using Silk Road did not understand this and that is why many of them ended up going to jail Satoshi's white paper clearly lays out the reason for it's creation.

The fact that digital mining goes over your head means you fundamentally to not understand the technology behind crpyto and are therefore not qualified to talk about it.

If you got into BTC anytime before this week you are up.

 

[Name2go]

Studying Bitcoin charts shows surprising patterns in its 4-year long cycles.
Cryptonatives say we are ahead of a strong bullish phase which should last until late 2025 (some say June 2025), followed by a Crypto winter as the beginning of the next cycle.

 

[Name2go]

 

[Inframan]

The fact that digital mining goes over your head means you fundamentally to not understand the technology behind crpyto and are therefore not qualified to talk about it.

In relation to FIAT currency it makes zero sense.

Can you take a pickaxe to your backyard and mine FIAT currency?
Can you add music, pictures, movies, documents to FIAT currency?
Can you build an app, website, or encrypt FIAT currency?
Is FIAT currency a physical asset or a NFT?
Is FIAT currency created and backed by the government, or is it the creation of a programmer?

You're absolutely correct I am unqualified to be a sheep that believes in a Blue Sky Stock (Token).

Let me know when you can buy a TIC TAC with BTC.

Right now I have a house, cars, and food with FIAT currency.

 

[Kyle Tully]

In relation to FIAT currency it makes zero sense.

Sounds like that is where you need to start your learning then!

 

[scithe]

Show attachment 266471

They goofed on that image I think. The first show should be 2010, 2011, 2012, 2013.

 

[Blake]

Question - Why is BTC being white washed as this decentralized token? BTC's sole creation was to facilitate untraceable financial transactions on Silk Road. Somehow this gets ignored.

This is absolutely not true by any means. Honestly, most believe it was created by the government and spilled into the public domain...hence why Satoshi disappeared. Nobody really knows nor cares at this point.

 

[Name2go]

They goofed on that image I think. The first show should be 2010, 2011, 2012, 2013.

The authors ignored the years 2009 and 2010 to highlight the 4-year cycles.

The Bitcoin Genesis block was generated on January 3rd, 2009. The first transaction of 10 BTC took place on January 12, 2009 between “Satoshi Nakamoto” and Hal Finney. Initially, Bitcoin was an insider game between techies and prices were freely negotiated in forums. The first use as a means of payment for goods took place on May 22, 2010: two pizzas for 10,000 BTC. The famous Pizza Day.

This data is easy to read anywhere. I just want to show that the chart is ok even if the initial time of Bitcoin is omitted. The chart divides the cycles from cycle high to cycle high. There are alternative forms of presentation from cycle low to cycle low, as well as from Bitcoin halving to halving, each in a 4-year rhythm.

 

[scithe]

Since 2012 is listed twice with different graphs, it looks suspect is all.

 

[Name2go]

Since 2012 is listed twice with different graphs, it looks suspect is all.

Good eye!
The first 4-year cycle only covers three, actually two and a half years. The chart progression looks correct, but is artificially drawn out. Not a good solution, the authors would have been better off presenting the first few years correctly as three years - or starting in 2009/10.
I didn't see that, my apologies.

 

[Inframan]

Nobody really knows nor cares at this point.

True statement.

 

[HaveANiceDay]

It exactly looks like 2013-2017-2021

 

[Wesley S]

The authors ignored the years 2009 and 2010 to highlight the 4-year cycles.

The Bitcoin Genesis block was generated on January 3rd, 2009. The first transaction of 10 BTC took place on January 12, 2009 between “Satoshi Nakamoto” and Hal Finney. Initially, Bitcoin was an insider game between techies and prices were freely negotiated in forums. The first use as a means of payment for goods took place on May 22, 2010: two pizzas for 10,000 BTC. The famous Pizza Day.

This data is easy to read anywhere. I just want to show that the chart is ok even if the initial time of Bitcoin is omitted. The chart divides the cycles from cycle high to cycle high. There are alternative forms of presentation from cycle low to cycle low, as well as from Bitcoin halving to halving, each in a 4-year rhythm.

what pizza company took that then?

 

[HaveANiceDay]

what pizza company took that then?

Dont go deep it was marketing trick which is usable in our days too