The Blockchain/Cryptocurrency/Electric Cars (???) discussion thread
- Thread starter Sluggah
- Start date
Chupacabra
Starter
A safer bet than it becoming widely accepted as an alternative currency. I should define widely accepted: Ability to make large purchases such as homes (without first selling off the crypto in order to get the U.S. Dollar value), ability to exchange it at banks for other forms of currency, ability to pay utility bills, ability to use it's value to apply for standard loans or lines of credit (credit cards, personal lines of credit, auto loans, etc). I dont mean at a very select few locations for each of these types of transactions, I mean it being accepted practically everywhere.
kb02
All-Star
Guess it's a good time to revisit this thread. I missed the convo in Sept. Have been waiting on a white paper from the Fed and the MIT Digitial Currency Initiative. Was supposed to come in September. And Coin came out with their whitepaper and SEC approved BTC Futures ETFs last week.
kb02
All-Star
It's crypto.com
kb02
All-Star
I'm in Didi pretty deep. They have 90% of the ridesharing in china, their own self driving AI, owns 30% of the charging stations in China, has a stake in Grab, and expanding rapidly outside of China. Only reason the price is so low is they pissed off Xi and are in time out.
As for EV and AI, I think Aurora has the best case for mass adoption. Self driving on highways is easier and there is a shortage of truck drivers, so the need and the economics makes sense. But the warrants has me on the sidelines for now.
We'll see.
It was a joke.
kb02
All-Star
Didn’t catch the sarcasm. Was out all day and just saw the comment. Cro is doing a ton of marketing lately. A land grab for customers right now in that space. Kinda FAs inating.
The joke was about NFTs, not crypto itself.
What was hilarious were the comments to the effect that Staples "sold out" by selling the rights as if they had no idea that Staples was also a corporate sponsor.
kb02
All-Star
Lolzzz.
Aurora just blew up today. 31% gain at the moment.
My limit order was like 20 cents too low and never executed. Ugh....
kb02
All-Star
Yea. Ugh. I didn't get in. Have been watching it since the high $9s.
Though I think the pop is probably not sustainable. Think its people rotating over from RIVN and LCID. We'll see.
Regardless, I'll just watch. I don't chase runs--the hit rate is 50/50 whether you can get out in time before the rug pull. Prefer to find misplaced value and go in hard. Win some, lose some. Just need wins to outpace losses.
Yeah I usually run some sort of stop on it in case it drops like a rock when I'm not paying attention. It works for spikes but I think it costs me money overall in a bull market playing it safe like that.
Either way it's a good watch so I appreciate the 411.
kb02
All-Star
I rarely do stops, because of MM games. Anyway, if you want to share info, send me a DM.
Chupacabra
Starter
Cryptocurrency is a multi-level marketing scheme.
kb02
All-Star
There are a lot of that in the sh*tcoin space. It is why, I stay away from sh*tcoins as direct investments, but do have some exposure through picks and shovels plays that interact with them.
That said, there are real innovations that are here to stay. I invest in those directly. Eth, for example, essentially has become the App Store platform for most of the recent innovations in cryptos. Over the long term, it’ll end up like the early 2000s where 99% will die (pets.com, Netscape, Lycos…) and 1% will become the anchors for the next internet boom (BTC, ETH, maybe AVAX…).
Exactly this. Virtually everyone and every project is going to be a loser, but I have 0 doubt that there's going to be the Amazon/Google/Ebay type winners that usher in web 3.0 over the next 10-20 years. Blockchain technology is inevitable, it's just a matter for me of not getting caught bag holding the crapcoins.
kb02
All-Star
Good read for those, who care or want to learn:
https://www.bloomberg.com/news/arti...vent-the-internet-here-s-what-you-should-know
https://www.bloomberg.com/news/arti...vent-the-internet-here-s-what-you-should-know
kb02
All-Star
The hearings this week, I think, will be seen as the start of the winners and losers phase of crypto.
I’ve gone upstream with my direct holdings and will sell all of my pick and shovels stock plays in q1 2022. Then moving all the proceeds to China plays. Lolzzz.
My pick and shovel plays are finally eligible for LTCG. Just waiting for the new year to avoid having to incur anymore taxes in 2021.
kb02
All-Star
Good insights, for those, who are interested:
https://www.coindesk.com/business/2...in-is-key-to-metaverse-and-web-3-development/
"For Web 3, blockchain allows for the “partial elimination of centralized control,” the note said. In the future users will be able to log in without the need for a third party, such as Meta, Google or Apple, the note added."
"Investment implications are hard to predict at this juncture, but companies who are dependent on centralized control of user identity will likely find their business models challenged by the adoption of blockchain,’ the report added."
https://www.coindesk.com/business/2...in-is-key-to-metaverse-and-web-3-development/
"For Web 3, blockchain allows for the “partial elimination of centralized control,” the note said. In the future users will be able to log in without the need for a third party, such as Meta, Google or Apple, the note added."
"Investment implications are hard to predict at this juncture, but companies who are dependent on centralized control of user identity will likely find their business models challenged by the adoption of blockchain,’ the report added."
kb02
All-Star
2FA and cold storage.
kb02
All-Star
You probably should. I’ve moved my entire portfolio to China plays.
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