Cryptocurrency - Bitcoin Continues to Soar!
Re: Cryptocurrency - Bitcoin Continues to Soar!
Since this thread discussing various cryptocurrency, are there any sites which explains all different types of Alt coins or stable coins in simple terms. On Coinbase, I see there are many tradable coins but I want to learn more before I start investing( <0.5% if my portfolio) I know Bitcoin, ETH, Litecoin. But always get confused with other ETH Based tokens Uniswap, Sushiswap, etc.
Re: Cryptocurrency - Bitcoin Continues to Soar!
This is a good one that I usually send to anyone want an overview of coins they want to choose to Do Your Own Research more
Direct link https://www.reddit.com/r/CryptoCurrency ... os_3_cons/
Copy & paste text
1. Bitcoin (BTC)
Strengths
• Widespread institutional involvement making it a store of value and fiat hedge
• First mover advantage/name recognition = head start on real world adoption
• Deflationary fully decentralised tokenomics
Weaknesses
• High transaction fees
• Scalability issues = slow transaction times
• Huge environmental cost due to proof-of-work concept
—
2. Ethereum (ETH)
Strengths
• First mover advantage in the smart contract space
• Most developers, nodes, and dApps of any cryptoasset
• Network is Turing complete = widespread use and potential application
Weaknesses
• Inflationary tokenomics (no fixed cap) - debate over capping inflation level
• Scalability of transactions causing high gas fees
• Unpredictability in timescale of upgrades, including proof-of-stake Eth 2.0
—
3. Binance Coin (BNB)
Strengths
• Enables smooth trading within largest exchange and BSC with low fees
• Fast network due to centralised nodes
• Greater crypto adoption/use of Binance = increased demand = increased value
Weaknesses
• Centralised control = contrary to ideals of cryptocurrency
• Exposed to greater risk of price shifts due to centralised control of supply
• Risks being treated as a security by SEC as tied to private company profit
—
4. Cardano (ADA)
Strengths
• Strong development team with evidence-based approach
• Transparent roadmap towards decentralisation, scalability, and security
• Deflationary tokenomics, involving staking support
Weaknesses
• Staking addresses link to wallet addresses
• Long rollout with not all planned aspects fully usable
• Censorship can exist due to separation of computational and settlement layers
—
5. Tether (USDT)
Strengths
• Most widely used/highest liquidity stablecoin on exchanges
• Strong record of holding currency value against the dollar
• Legal battle with New York Attorney General recently settled
Weaknesses
• Stablecoin so no more designed as an investment itself than the US dollar
• Centralised supply, which can be minted whenever team decides
• Perceived unscrupulous behaviour by team, misleading about how it’s backed up
—
6. Polkadot (DOT)
Strengths
• Most widespread use of token governing cross-blockchain interoperability
• Enabling secure parallel chains for scalability and reducing transaction fees
• High degree of developer flexibility
Weaknesses
• High fees to run nodes to validate network
• Limited developer adoption compared to Ethereum
• Large amounts of assets held by relatively few wallets
—
7. XRP (XRP)
Strengths
• Enables fast cross-border payments, particularly targeting businesses
• Name recognition and early market leader in payments space
• Negligible fees
Weaknesses
• Strong competition + regulation in market space = slow adoption
• Highly centralised nodes, privately held for proof-of-correctness algorithm
• Recent delistings from exchanges and halts to trading due to court cases
—
8. Litecoin (LTC)
Strengths
• Faster transaction confirmation that its direct competitor Bitcoin
• Long-standing trusted cryptoasset with historically solid top 10 ranking
• Near ubiquitous listing on exchanges and some mainstream adoption
Weaknesses
• Limited developmental input recently in comparison to other projects
• Growing move away from Litecoin as a Bitcoin hedge due to stablecoins
• At risk of being devalued if Bitcoin can be effectively solve scalability
—
9. Chainlink (LINK)
Strengths
• First mover advantage in blockchains/off-chain data feed communication
• Benefits from rise in value of businesses and blockchains it partners with
• Expansive market space for use of native network in real world applications
Weaknesses
• No clear roadmap or timescale for future developments
• Impacted somewhat by the speed of the Ethereum network for data transfers
• Relative centralisation of stored token assets
—
10. Bitcoin Cash (BCH)
Strengths
• Similar computational structure to Bitcoin and therefore easily co-adopted
• Addresses the scalability issue of Bitcoin specifically
• Smaller fees than the majority of its direct competitors
Weaknesses
• Perceived negativity surrounding its leadership, marketing, and community
• Direct competitor of Bitcoin which has a large market advantage
• Variably poor throughput of transactions compared to Bitcoin despite larger block size
—
11. Stellar (XLM)
Strengths
• Fast cross-border payments between individuals
• Negligible fees
• Not-for-profit philosophy = inclusive global payment system compared to XRP
Weaknesses
• Competitor of XRP without first mover advantage
• Nodes are privately held for consensus algorithm, with little financial incentive
• Small centralised development team
—
12. USD Coin (USDC)
Strengths
• Ethereum network stablecoin with fast transfers stabilising other cryptoassets
• More positive press than nearest direct competitor Tether
• Institutional backing
Weaknesses
• Stablecoin so no more designed as an investment itself than the US dollar
• Strong competition from other stablecoins including market leader Tether
• Uncertainty if regulation will impact stablecoin use long term
—
13. Uniswap (UNI)
Strengths
• Tied to performance of burgeoning market-leading decentralised exchange
• Enables holders to engage in the exchange’s governance activities
• Developer team planning major upgrades later in year = version 3
Weaknesses
• High initial distribution to relatively few developers
• Ethereum network token so fees high at times of congestion
• Persistently high inflationary tokenomics given primary use as governance token
—
14. Dogecoin (DOGE)
Strengths
• Fun and engaging story/community encouraging new users of crypoassets
• Low transaction fees
• Relatively quick transaction times leading to some real world adoption
Weaknesses
• Celebrity impact = pumps and dumps unusual for high market cap assets
• Potentially infinite supply limiting value possibilities, despite fixed inflation
• Virtually no development for many years
—
15. Wrapped Bitcoin (WBTC)
Strengths
• Allows Bitcoin liquidity to be used easily within the Ethereum network
• Expands use of decentralised finance network
• Takes the security of bitcoin with the usability of smart contract tokens
Weaknesses
• Wrapping is a centralised process, relying on trust of a central body
• Wrapping can’t be automated within Ethereum = reduced integrity of decentralised network
• Transactions of token subject to potentially high Ethereum gas fees
—
16. OKB (OKB)
Strengths
• Allows low fee trading on the OKEx exchange, the second largest centralised exchange
• Buy-back and burn deflationary tokenomics
• Can be used as payments for any goods and services partnered with NOWPayments
Weaknesses
• Centralised control of token supply and withdrawal
• Multiple OKEx controversies including suspending withdrawals for one month
• ERC-20 token subject to potentially high Ethereum gas fees for transactions
—
17. NEM (XEM)
Strengths
• Blockchain uses novel proof of importance algorithm to improve fairness vs proof of stake
• Applications for transfer of assets, votes, contracts, etc. can be coded in any language
• Major upgrade announced for March 12 which XEM holders can opt into
Weaknesses
• Few key meaningful differences in application to Ethereum, its main rival
• Reputation of team for not being marketing savvy in not finding user base
• Low developmental transparency with poor user interaction
—
18. Aave (AAVE)
Strengths
• Tied to market leader of non-custodial transparent decentralised lending
• Holders can partake in project governance
• Discounts on borrowing for holders
Weaknesses
• Variety of financial options complex and not necessarily intuitive for new users
• Limited current adoption beyond the crypto space
• Transactions of token subject to potentially high Ethereum gas fees
—
19. Cosmos (ATOM)
Strengths
• Unlimited ecosystem of independent interoperable dApp-specific blockchains
• Improves scalability in smart contract system compared to current Ethereum network
• New developments more easily added vs Polkadot = greater adoption potential
Weaknesses
• Tendermint consensus algorithm is limited to fewer validators than competitors
• Less fundamental need for native ATOM token within network compared to competitors
• No capped supply on tokens
—
20. Solana (SOL)
Strengths
• Billed as the fastest blockchain with token used to pay transaction fees
• Smart contract compatible with scalability built in
• FTX recently selected Solana blockchain as basis for their decentralised exchange Serum
Weaknesses
• Large amount of tokens held by development team
• Relatively recent rise to prominence so concerns that value may be unpredictable
• Recent blockchain bug caused 6 hour outage
—
21. Crypto.com Coin (CRO)
Strengths
• Close ties to fiat financial world through exchange and card = more adoption
• High interest rates when staked on native exchange
• Team trying to increase decentralisation preparing for upcoming blockchain launch
Weaknesses
• Little fundamental use case outside of exchange ecosystem
• Centralised supply of token with centrally made major developmental decisions
• Transactions of token subject to potentially high Ethereum gas fees
—
22. Monero (XMR)
Strengths
• First mover privacycoin where transaction tracing is virtually impossible by design
• Highly decentralised development and governance
• Low transaction fees compared to other proof-of-work projects
Weaknesses
• Higher complexity of code base = integration to markets challenging
• Governmental regulation more likely which could curtail listings and activity
• Proof of work blockchain coupled with transaction complexity causing potential scalability issues
—
23. EOS (EOS)
Strengths
• Much higher transaction speeds than main competitor Ethereum
• Negligible transaction fees
• Capacity to run industrial-scale decentralised apps
Weaknesses
• Extremely few existing nodes and inherent difficulty for more
• Essentially hitherto outcompeted by Ethereum and others for dApp takeup
• Community is sour on future and project founder has left recently
—
24. Bitcoin SV (BSV)
Strengths
• Hard fork from Bitcoin Cash with strong vision to create viable payments system
• Large block size enabling fast transaction speeds in comparison with BCH
• Minimal transaction fees
Weaknesses
• Multiple security lapses due to problems with blockchain code
• Fast transaction speeds/low fees has been more successfully adopted using other algorithms
• Strong negative feeling from many in crypto community, many of whom regard it as a scam
—
25. TRON (TRX)
Strengths
• Strong vision of empowering content creators to have ownership of their own web content
• Smart contracts can be created in many programming languages = easier development
• Faster transaction speeds and lower fees than competitor Ethereum
Weaknesses
• Concerns regarding the ethics of founding CEO and team
• Very similar code to other projects but not implementing their more recent innovations
• Delegated proof-of-stake confirming process prone to becoming centralised
—
Edit: BONUS:
26. IOTA (MIOTA)
Strengths
• Market leader in being the first crypto architecture not based on a blockchain (directed acyclic graph)
• Strong developer roadmap aiming for game-changing fast, feeless smart contracts governing IoT
• Comparatively environmentally friendly to other large scale projects
Weaknesses
• Slow rollout of roadmap and early target of removing central coordinating node still not complete
• New technological issues - caused a mainnet outage for 11 days as recently as last year
• As a token made for machine-to-machine transactions, future market is somewhat unpredictable
—
Direct link https://www.reddit.com/r/CryptoCurrency ... os_3_cons/
Copy & paste text
1. Bitcoin (BTC)
Strengths
• Widespread institutional involvement making it a store of value and fiat hedge
• First mover advantage/name recognition = head start on real world adoption
• Deflationary fully decentralised tokenomics
Weaknesses
• High transaction fees
• Scalability issues = slow transaction times
• Huge environmental cost due to proof-of-work concept
—
2. Ethereum (ETH)
Strengths
• First mover advantage in the smart contract space
• Most developers, nodes, and dApps of any cryptoasset
• Network is Turing complete = widespread use and potential application
Weaknesses
• Inflationary tokenomics (no fixed cap) - debate over capping inflation level
• Scalability of transactions causing high gas fees
• Unpredictability in timescale of upgrades, including proof-of-stake Eth 2.0
—
3. Binance Coin (BNB)
Strengths
• Enables smooth trading within largest exchange and BSC with low fees
• Fast network due to centralised nodes
• Greater crypto adoption/use of Binance = increased demand = increased value
Weaknesses
• Centralised control = contrary to ideals of cryptocurrency
• Exposed to greater risk of price shifts due to centralised control of supply
• Risks being treated as a security by SEC as tied to private company profit
—
4. Cardano (ADA)
Strengths
• Strong development team with evidence-based approach
• Transparent roadmap towards decentralisation, scalability, and security
• Deflationary tokenomics, involving staking support
Weaknesses
• Staking addresses link to wallet addresses
• Long rollout with not all planned aspects fully usable
• Censorship can exist due to separation of computational and settlement layers
—
5. Tether (USDT)
Strengths
• Most widely used/highest liquidity stablecoin on exchanges
• Strong record of holding currency value against the dollar
• Legal battle with New York Attorney General recently settled
Weaknesses
• Stablecoin so no more designed as an investment itself than the US dollar
• Centralised supply, which can be minted whenever team decides
• Perceived unscrupulous behaviour by team, misleading about how it’s backed up
—
6. Polkadot (DOT)
Strengths
• Most widespread use of token governing cross-blockchain interoperability
• Enabling secure parallel chains for scalability and reducing transaction fees
• High degree of developer flexibility
Weaknesses
• High fees to run nodes to validate network
• Limited developer adoption compared to Ethereum
• Large amounts of assets held by relatively few wallets
—
7. XRP (XRP)
Strengths
• Enables fast cross-border payments, particularly targeting businesses
• Name recognition and early market leader in payments space
• Negligible fees
Weaknesses
• Strong competition + regulation in market space = slow adoption
• Highly centralised nodes, privately held for proof-of-correctness algorithm
• Recent delistings from exchanges and halts to trading due to court cases
—
8. Litecoin (LTC)
Strengths
• Faster transaction confirmation that its direct competitor Bitcoin
• Long-standing trusted cryptoasset with historically solid top 10 ranking
• Near ubiquitous listing on exchanges and some mainstream adoption
Weaknesses
• Limited developmental input recently in comparison to other projects
• Growing move away from Litecoin as a Bitcoin hedge due to stablecoins
• At risk of being devalued if Bitcoin can be effectively solve scalability
—
9. Chainlink (LINK)
Strengths
• First mover advantage in blockchains/off-chain data feed communication
• Benefits from rise in value of businesses and blockchains it partners with
• Expansive market space for use of native network in real world applications
Weaknesses
• No clear roadmap or timescale for future developments
• Impacted somewhat by the speed of the Ethereum network for data transfers
• Relative centralisation of stored token assets
—
10. Bitcoin Cash (BCH)
Strengths
• Similar computational structure to Bitcoin and therefore easily co-adopted
• Addresses the scalability issue of Bitcoin specifically
• Smaller fees than the majority of its direct competitors
Weaknesses
• Perceived negativity surrounding its leadership, marketing, and community
• Direct competitor of Bitcoin which has a large market advantage
• Variably poor throughput of transactions compared to Bitcoin despite larger block size
—
11. Stellar (XLM)
Strengths
• Fast cross-border payments between individuals
• Negligible fees
• Not-for-profit philosophy = inclusive global payment system compared to XRP
Weaknesses
• Competitor of XRP without first mover advantage
• Nodes are privately held for consensus algorithm, with little financial incentive
• Small centralised development team
—
12. USD Coin (USDC)
Strengths
• Ethereum network stablecoin with fast transfers stabilising other cryptoassets
• More positive press than nearest direct competitor Tether
• Institutional backing
Weaknesses
• Stablecoin so no more designed as an investment itself than the US dollar
• Strong competition from other stablecoins including market leader Tether
• Uncertainty if regulation will impact stablecoin use long term
—
13. Uniswap (UNI)
Strengths
• Tied to performance of burgeoning market-leading decentralised exchange
• Enables holders to engage in the exchange’s governance activities
• Developer team planning major upgrades later in year = version 3
Weaknesses
• High initial distribution to relatively few developers
• Ethereum network token so fees high at times of congestion
• Persistently high inflationary tokenomics given primary use as governance token
—
14. Dogecoin (DOGE)
Strengths
• Fun and engaging story/community encouraging new users of crypoassets
• Low transaction fees
• Relatively quick transaction times leading to some real world adoption
Weaknesses
• Celebrity impact = pumps and dumps unusual for high market cap assets
• Potentially infinite supply limiting value possibilities, despite fixed inflation
• Virtually no development for many years
—
15. Wrapped Bitcoin (WBTC)
Strengths
• Allows Bitcoin liquidity to be used easily within the Ethereum network
• Expands use of decentralised finance network
• Takes the security of bitcoin with the usability of smart contract tokens
Weaknesses
• Wrapping is a centralised process, relying on trust of a central body
• Wrapping can’t be automated within Ethereum = reduced integrity of decentralised network
• Transactions of token subject to potentially high Ethereum gas fees
—
16. OKB (OKB)
Strengths
• Allows low fee trading on the OKEx exchange, the second largest centralised exchange
• Buy-back and burn deflationary tokenomics
• Can be used as payments for any goods and services partnered with NOWPayments
Weaknesses
• Centralised control of token supply and withdrawal
• Multiple OKEx controversies including suspending withdrawals for one month
• ERC-20 token subject to potentially high Ethereum gas fees for transactions
—
17. NEM (XEM)
Strengths
• Blockchain uses novel proof of importance algorithm to improve fairness vs proof of stake
• Applications for transfer of assets, votes, contracts, etc. can be coded in any language
• Major upgrade announced for March 12 which XEM holders can opt into
Weaknesses
• Few key meaningful differences in application to Ethereum, its main rival
• Reputation of team for not being marketing savvy in not finding user base
• Low developmental transparency with poor user interaction
—
18. Aave (AAVE)
Strengths
• Tied to market leader of non-custodial transparent decentralised lending
• Holders can partake in project governance
• Discounts on borrowing for holders
Weaknesses
• Variety of financial options complex and not necessarily intuitive for new users
• Limited current adoption beyond the crypto space
• Transactions of token subject to potentially high Ethereum gas fees
—
19. Cosmos (ATOM)
Strengths
• Unlimited ecosystem of independent interoperable dApp-specific blockchains
• Improves scalability in smart contract system compared to current Ethereum network
• New developments more easily added vs Polkadot = greater adoption potential
Weaknesses
• Tendermint consensus algorithm is limited to fewer validators than competitors
• Less fundamental need for native ATOM token within network compared to competitors
• No capped supply on tokens
—
20. Solana (SOL)
Strengths
• Billed as the fastest blockchain with token used to pay transaction fees
• Smart contract compatible with scalability built in
• FTX recently selected Solana blockchain as basis for their decentralised exchange Serum
Weaknesses
• Large amount of tokens held by development team
• Relatively recent rise to prominence so concerns that value may be unpredictable
• Recent blockchain bug caused 6 hour outage
—
21. Crypto.com Coin (CRO)
Strengths
• Close ties to fiat financial world through exchange and card = more adoption
• High interest rates when staked on native exchange
• Team trying to increase decentralisation preparing for upcoming blockchain launch
Weaknesses
• Little fundamental use case outside of exchange ecosystem
• Centralised supply of token with centrally made major developmental decisions
• Transactions of token subject to potentially high Ethereum gas fees
—
22. Monero (XMR)
Strengths
• First mover privacycoin where transaction tracing is virtually impossible by design
• Highly decentralised development and governance
• Low transaction fees compared to other proof-of-work projects
Weaknesses
• Higher complexity of code base = integration to markets challenging
• Governmental regulation more likely which could curtail listings and activity
• Proof of work blockchain coupled with transaction complexity causing potential scalability issues
—
23. EOS (EOS)
Strengths
• Much higher transaction speeds than main competitor Ethereum
• Negligible transaction fees
• Capacity to run industrial-scale decentralised apps
Weaknesses
• Extremely few existing nodes and inherent difficulty for more
• Essentially hitherto outcompeted by Ethereum and others for dApp takeup
• Community is sour on future and project founder has left recently
—
24. Bitcoin SV (BSV)
Strengths
• Hard fork from Bitcoin Cash with strong vision to create viable payments system
• Large block size enabling fast transaction speeds in comparison with BCH
• Minimal transaction fees
Weaknesses
• Multiple security lapses due to problems with blockchain code
• Fast transaction speeds/low fees has been more successfully adopted using other algorithms
• Strong negative feeling from many in crypto community, many of whom regard it as a scam
—
25. TRON (TRX)
Strengths
• Strong vision of empowering content creators to have ownership of their own web content
• Smart contracts can be created in many programming languages = easier development
• Faster transaction speeds and lower fees than competitor Ethereum
Weaknesses
• Concerns regarding the ethics of founding CEO and team
• Very similar code to other projects but not implementing their more recent innovations
• Delegated proof-of-stake confirming process prone to becoming centralised
—
Edit: BONUS:
26. IOTA (MIOTA)
Strengths
• Market leader in being the first crypto architecture not based on a blockchain (directed acyclic graph)
• Strong developer roadmap aiming for game-changing fast, feeless smart contracts governing IoT
• Comparatively environmentally friendly to other large scale projects
Weaknesses
• Slow rollout of roadmap and early target of removing central coordinating node still not complete
• New technological issues - caused a mainnet outage for 11 days as recently as last year
• As a token made for machine-to-machine transactions, future market is somewhat unpredictable
—
Index: 60/10/10/20 (VTSAX/VSMAX/VTIAX/VBTLX) |
Crypto: 50/30/20 (BTC/ETH/BNB-ADA-DOT-VET)
Re: Cryptocurrency - Bitcoin Continues to Soar!
Thank you! This is very helpful. Will keep me busy for a while to read this information.tontot wrote: ↑Fri Apr 09, 2021 12:57 pm This is a good one that I usually send to anyone want an overview of coins they want to choose to Do Your Own Research more
Direct link https://www.reddit.com/r/CryptoCurrency ... os_3_cons/
Copy & paste text
1. Bitcoin (BTC)
Strengths
• Widespread institutional involvement making it a store of value and fiat hedge
• First mover advantage/name recognition = head start on real world adoption
• Deflationary fully decentralised tokenomics
Weaknesses
• High transaction fees
• Scalability issues = slow transaction times
• Huge environmental cost due to proof-of-work concept
—
2. Ethereum (ETH)
Strengths
• First mover advantage in the smart contract space
• Most developers, nodes, and dApps of any cryptoasset
• Network is Turing complete = widespread use and potential application
Weaknesses
• Inflationary tokenomics (no fixed cap) - debate over capping inflation level
• Scalability of transactions causing high gas fees
• Unpredictability in timescale of upgrades, including proof-of-stake Eth 2.0
—
3. Binance Coin (BNB)
Strengths
• Enables smooth trading within largest exchange and BSC with low fees
• Fast network due to centralised nodes
• Greater crypto adoption/use of Binance = increased demand = increased value
Weaknesses
• Centralised control = contrary to ideals of cryptocurrency
• Exposed to greater risk of price shifts due to centralised control of supply
• Risks being treated as a security by SEC as tied to private company profit
—
4. Cardano (ADA)
Strengths
• Strong development team with evidence-based approach
• Transparent roadmap towards decentralisation, scalability, and security
• Deflationary tokenomics, involving staking support
Weaknesses
• Staking addresses link to wallet addresses
• Long rollout with not all planned aspects fully usable
• Censorship can exist due to separation of computational and settlement layers
—
5. Tether (USDT)
Strengths
• Most widely used/highest liquidity stablecoin on exchanges
• Strong record of holding currency value against the dollar
• Legal battle with New York Attorney General recently settled
Weaknesses
• Stablecoin so no more designed as an investment itself than the US dollar
• Centralised supply, which can be minted whenever team decides
• Perceived unscrupulous behaviour by team, misleading about how it’s backed up
—
6. Polkadot (DOT)
Strengths
• Most widespread use of token governing cross-blockchain interoperability
• Enabling secure parallel chains for scalability and reducing transaction fees
• High degree of developer flexibility
Weaknesses
• High fees to run nodes to validate network
• Limited developer adoption compared to Ethereum
• Large amounts of assets held by relatively few wallets
—
7. XRP (XRP)
Strengths
• Enables fast cross-border payments, particularly targeting businesses
• Name recognition and early market leader in payments space
• Negligible fees
Weaknesses
• Strong competition + regulation in market space = slow adoption
• Highly centralised nodes, privately held for proof-of-correctness algorithm
• Recent delistings from exchanges and halts to trading due to court cases
—
8. Litecoin (LTC)
Strengths
• Faster transaction confirmation that its direct competitor Bitcoin
• Long-standing trusted cryptoasset with historically solid top 10 ranking
• Near ubiquitous listing on exchanges and some mainstream adoption
Weaknesses
• Limited developmental input recently in comparison to other projects
• Growing move away from Litecoin as a Bitcoin hedge due to stablecoins
• At risk of being devalued if Bitcoin can be effectively solve scalability
—
9. Chainlink (LINK)
Strengths
• First mover advantage in blockchains/off-chain data feed communication
• Benefits from rise in value of businesses and blockchains it partners with
• Expansive market space for use of native network in real world applications
Weaknesses
• No clear roadmap or timescale for future developments
• Impacted somewhat by the speed of the Ethereum network for data transfers
• Relative centralisation of stored token assets
—
10. Bitcoin Cash (BCH)
Strengths
• Similar computational structure to Bitcoin and therefore easily co-adopted
• Addresses the scalability issue of Bitcoin specifically
• Smaller fees than the majority of its direct competitors
Weaknesses
• Perceived negativity surrounding its leadership, marketing, and community
• Direct competitor of Bitcoin which has a large market advantage
• Variably poor throughput of transactions compared to Bitcoin despite larger block size
—
11. Stellar (XLM)
Strengths
• Fast cross-border payments between individuals
• Negligible fees
• Not-for-profit philosophy = inclusive global payment system compared to XRP
Weaknesses
• Competitor of XRP without first mover advantage
• Nodes are privately held for consensus algorithm, with little financial incentive
• Small centralised development team
—
12. USD Coin (USDC)
Strengths
• Ethereum network stablecoin with fast transfers stabilising other cryptoassets
• More positive press than nearest direct competitor Tether
• Institutional backing
Weaknesses
• Stablecoin so no more designed as an investment itself than the US dollar
• Strong competition from other stablecoins including market leader Tether
• Uncertainty if regulation will impact stablecoin use long term
—
13. Uniswap (UNI)
Strengths
• Tied to performance of burgeoning market-leading decentralised exchange
• Enables holders to engage in the exchange’s governance activities
• Developer team planning major upgrades later in year = version 3
Weaknesses
• High initial distribution to relatively few developers
• Ethereum network token so fees high at times of congestion
• Persistently high inflationary tokenomics given primary use as governance token
—
14. Dogecoin (DOGE)
Strengths
• Fun and engaging story/community encouraging new users of crypoassets
• Low transaction fees
• Relatively quick transaction times leading to some real world adoption
Weaknesses
• Celebrity impact = pumps and dumps unusual for high market cap assets
• Potentially infinite supply limiting value possibilities, despite fixed inflation
• Virtually no development for many years
—
15. Wrapped Bitcoin (WBTC)
Strengths
• Allows Bitcoin liquidity to be used easily within the Ethereum network
• Expands use of decentralised finance network
• Takes the security of bitcoin with the usability of smart contract tokens
Weaknesses
• Wrapping is a centralised process, relying on trust of a central body
• Wrapping can’t be automated within Ethereum = reduced integrity of decentralised network
• Transactions of token subject to potentially high Ethereum gas fees
—
16. OKB (OKB)
Strengths
• Allows low fee trading on the OKEx exchange, the second largest centralised exchange
• Buy-back and burn deflationary tokenomics
• Can be used as payments for any goods and services partnered with NOWPayments
Weaknesses
• Centralised control of token supply and withdrawal
• Multiple OKEx controversies including suspending withdrawals for one month
• ERC-20 token subject to potentially high Ethereum gas fees for transactions
—
17. NEM (XEM)
Strengths
• Blockchain uses novel proof of importance algorithm to improve fairness vs proof of stake
• Applications for transfer of assets, votes, contracts, etc. can be coded in any language
• Major upgrade announced for March 12 which XEM holders can opt into
Weaknesses
• Few key meaningful differences in application to Ethereum, its main rival
• Reputation of team for not being marketing savvy in not finding user base
• Low developmental transparency with poor user interaction
—
18. Aave (AAVE)
Strengths
• Tied to market leader of non-custodial transparent decentralised lending
• Holders can partake in project governance
• Discounts on borrowing for holders
Weaknesses
• Variety of financial options complex and not necessarily intuitive for new users
• Limited current adoption beyond the crypto space
• Transactions of token subject to potentially high Ethereum gas fees
—
19. Cosmos (ATOM)
Strengths
• Unlimited ecosystem of independent interoperable dApp-specific blockchains
• Improves scalability in smart contract system compared to current Ethereum network
• New developments more easily added vs Polkadot = greater adoption potential
Weaknesses
• Tendermint consensus algorithm is limited to fewer validators than competitors
• Less fundamental need for native ATOM token within network compared to competitors
• No capped supply on tokens
—
20. Solana (SOL)
Strengths
• Billed as the fastest blockchain with token used to pay transaction fees
• Smart contract compatible with scalability built in
• FTX recently selected Solana blockchain as basis for their decentralised exchange Serum
Weaknesses
• Large amount of tokens held by development team
• Relatively recent rise to prominence so concerns that value may be unpredictable
• Recent blockchain bug caused 6 hour outage
—
21. Crypto.com Coin (CRO)
Strengths
• Close ties to fiat financial world through exchange and card = more adoption
• High interest rates when staked on native exchange
• Team trying to increase decentralisation preparing for upcoming blockchain launch
Weaknesses
• Little fundamental use case outside of exchange ecosystem
• Centralised supply of token with centrally made major developmental decisions
• Transactions of token subject to potentially high Ethereum gas fees
—
22. Monero (XMR)
Strengths
• First mover privacycoin where transaction tracing is virtually impossible by design
• Highly decentralised development and governance
• Low transaction fees compared to other proof-of-work projects
Weaknesses
• Higher complexity of code base = integration to markets challenging
• Governmental regulation more likely which could curtail listings and activity
• Proof of work blockchain coupled with transaction complexity causing potential scalability issues
—
23. EOS (EOS)
Strengths
• Much higher transaction speeds than main competitor Ethereum
• Negligible transaction fees
• Capacity to run industrial-scale decentralised apps
Weaknesses
• Extremely few existing nodes and inherent difficulty for more
• Essentially hitherto outcompeted by Ethereum and others for dApp takeup
• Community is sour on future and project founder has left recently
—
24. Bitcoin SV (BSV)
Strengths
• Hard fork from Bitcoin Cash with strong vision to create viable payments system
• Large block size enabling fast transaction speeds in comparison with BCH
• Minimal transaction fees
Weaknesses
• Multiple security lapses due to problems with blockchain code
• Fast transaction speeds/low fees has been more successfully adopted using other algorithms
• Strong negative feeling from many in crypto community, many of whom regard it as a scam
—
25. TRON (TRX)
Strengths
• Strong vision of empowering content creators to have ownership of their own web content
• Smart contracts can be created in many programming languages = easier development
• Faster transaction speeds and lower fees than competitor Ethereum
Weaknesses
• Concerns regarding the ethics of founding CEO and team
• Very similar code to other projects but not implementing their more recent innovations
• Delegated proof-of-stake confirming process prone to becoming centralised
—
Edit: BONUS:
26. IOTA (MIOTA)
Strengths
• Market leader in being the first crypto architecture not based on a blockchain (directed acyclic graph)
• Strong developer roadmap aiming for game-changing fast, feeless smart contracts governing IoT
• Comparatively environmentally friendly to other large scale projects
Weaknesses
• Slow rollout of roadmap and early target of removing central coordinating node still not complete
• New technological issues - caused a mainnet outage for 11 days as recently as last year
• As a token made for machine-to-machine transactions, future market is somewhat unpredictable
—
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Re: Cryptocurrency - Bitcoin Continues to Soar!
Yes, don't forget to buy DOGE as well. $0.06 --> $1, that's almost a 20x gain for very little risk. Forget bitcoin, DOGE is the Gooddest Coin!!!! woof woof!!!
Re: Cryptocurrency - Bitcoin Continues to Soar!
Hit $61,000
Tether team hard at work printing. They seem to print as fast as the Fed does!
Tether team hard at work printing. They seem to print as fast as the Fed does!
All posts are my own opinions and are not financial advice.
- AerialWombat
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Re: Cryptocurrency - Bitcoin Continues to Soar!
It’s crazy, for sure. Never thought I would be rebalancing from one imaginary asset to another, but I just converted some bitcoin to lumens.
This post is a work of fiction. Any similarity to real financial advice is purely coincidental.
Re: Cryptocurrency - Bitcoin Continues to Soar!
I have many younger family members who are very proud of their investment in BitCoin.
In my mind it is still pure speculation continue to see huge price swings. An investment should not lose 10-20% value in 1 day and then gain the very next day/week.
DeFi and Blockchain are going to be the NextGen of technologies that will dominate. This is because the ease of transaction they bring in. But If this is going to be a single Cryptocurrency, its yet to be seen. Now if there 25 different Cryptocurrencies and they are all in use, than they would need to be tied to a single base index (currently US $)
In my mind it is still pure speculation continue to see huge price swings. An investment should not lose 10-20% value in 1 day and then gain the very next day/week.
DeFi and Blockchain are going to be the NextGen of technologies that will dominate. This is because the ease of transaction they bring in. But If this is going to be a single Cryptocurrency, its yet to be seen. Now if there 25 different Cryptocurrencies and they are all in use, than they would need to be tied to a single base index (currently US $)
Re: Cryptocurrency - Bitcoin Continues to Soar!
I assume you mean Stellar Lumens (XLM). Why is that? I am building a position to it and a hedge for XRP.AerialWombat wrote: ↑Sat Apr 10, 2021 12:48 amIt’s crazy, for sure. Never thought I would be rebalancing from one imaginary asset to another, but I just converted some bitcoin to lumens.
- AerialWombat
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Re: Cryptocurrency - Bitcoin Continues to Soar!
Because I never thought I’d own crypto at all! But it’s my new fun money play land, so I arbitrarily arbitrage price swings across 30 different tokens. It’s more fun than online poker, and I expect to end with just as much money (zero).keith6014 wrote: ↑Sat Apr 10, 2021 9:16 amI assume you mean Stellar Lumens (XLM). Why is that? I am building a position to it and a hedge for XRP.AerialWombat wrote: ↑Sat Apr 10, 2021 12:48 amIt’s crazy, for sure. Never thought I would be rebalancing from one imaginary asset to another, but I just converted some bitcoin to lumens.
This post is a work of fiction. Any similarity to real financial advice is purely coincidental.
Re: Cryptocurrency - Bitcoin Continues to Soar!
Yeah, I just got into crypto in January as a lottery ticket, nothing I can't afford to lose. It's a fun world. I primarily have ETH and trade NFTs. So far been fun and reasonably profitable, though it could have been so much better had I not made so many mistakes.AerialWombat wrote: ↑Sat Apr 10, 2021 9:43 amBecause I never thought I’d own crypto at all! But it’s my new fun money play land, so I arbitrarily arbitrage price swings across 30 different tokens. It’s more fun than online poker, and I expect to end with just as much money (zero).keith6014 wrote: ↑Sat Apr 10, 2021 9:16 amI assume you mean Stellar Lumens (XLM). Why is that? I am building a position to it and a hedge for XRP.AerialWombat wrote: ↑Sat Apr 10, 2021 12:48 amIt’s crazy, for sure. Never thought I would be rebalancing from one imaginary asset to another, but I just converted some bitcoin to lumens.
Re: Cryptocurrency - Bitcoin Continues to Soar!
Crypto noob checking in. Would Kraken.com be a good broker to do that? I have my account with them.AerialWombat wrote: ↑Sat Apr 10, 2021 9:43 amBecause I never thought I’d own crypto at all! But it’s my new fun money play land, so I arbitrarily arbitrage price swings across 30 different tokens. It’s more fun than online poker, and I expect to end with just as much money (zero).keith6014 wrote: ↑Sat Apr 10, 2021 9:16 amI assume you mean Stellar Lumens (XLM). Why is that? I am building a position to it and a hedge for XRP.AerialWombat wrote: ↑Sat Apr 10, 2021 12:48 amIt’s crazy, for sure. Never thought I would be rebalancing from one imaginary asset to another, but I just converted some bitcoin to lumens.
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Re: Cryptocurrency - Bitcoin Continues to Soar!
XRP right now. I wonder if we'll see it get relisted.
Re: Cryptocurrency - Bitcoin Continues to Soar!
Yes I believe Kraken has Stellar lumens (XLM). Just FYI, There was an event where the network appeared to be non-operational, which is sort of a big deal when it comes to blockchain. Probably something worth researching before you buy (I have not looked into it much so don't know how important it is).YRT70 wrote: ↑Sat Apr 10, 2021 10:56 amCrypto noob checking in. Would Kraken.com be a good broker to do that? I have my account with them.AerialWombat wrote: ↑Sat Apr 10, 2021 9:43 amBecause I never thought I’d own crypto at all! But it’s my new fun money play land, so I arbitrarily arbitrage price swings across 30 different tokens. It’s more fun than online poker, and I expect to end with just as much money (zero).keith6014 wrote: ↑Sat Apr 10, 2021 9:16 amI assume you mean Stellar Lumens (XLM). Why is that? I am building a position to it and a hedge for XRP.AerialWombat wrote: ↑Sat Apr 10, 2021 12:48 amIt’s crazy, for sure. Never thought I would be rebalancing from one imaginary asset to another, but I just converted some bitcoin to lumens.
Re: Cryptocurrency - Bitcoin Continues to Soar!
XRP is a scam and has been deemed an unregistered security by the SEC. there is no reason for Coinbase to take on that sort of risk.
That said, Ripple has an army of really good lawyers so it’s TBD what happens with their appeal
Re: Cryptocurrency - Bitcoin Continues to Soar!
I think I'll stick with the tried and true polluters in my index fund.
Bitcoin mining in China could soon generate as much carbon emissions as some European countries, study finds.
https://edition.cnn.com/2021/04/09/bus ... index.html
Bitcoin mining in China could soon generate as much carbon emissions as some European countries, study finds.
https://edition.cnn.com/2021/04/09/bus ... index.html
Re: Cryptocurrency - Bitcoin Continues to Soar!
tontot wrote: ↑Fri Apr 09, 2021 12:57 pm This is a good one that I usually send to anyone want an overview of coins they want to choose to Do Your Own Research more
Direct link https://www.reddit.com/r/CryptoCurrency ... os_3_cons/
Copy & paste text
1. Bitcoin (BTC)
Strengths
• Widespread institutional involvement making it a store of value and fiat hedge
• First mover advantage/name recognition = head start on real world adoption
• Deflationary fully decentralised tokenomics
Weaknesses
• High transaction fees
• Scalability issues = slow transaction times
• Huge environmental cost due to proof-of-work concept
—
2. Ethereum (ETH)
Strengths
• First mover advantage in the smart contract space
• Most developers, nodes, and dApps of any cryptoasset
• Network is Turing complete = widespread use and potential application
Weaknesses
• Inflationary tokenomics (no fixed cap) - debate over capping inflation level
• Scalability of transactions causing high gas fees
• Unpredictability in timescale of upgrades, including proof-of-stake Eth 2.0
—
3. Binance Coin (BNB)
Strengths
• Enables smooth trading within largest exchange and BSC with low fees
• Fast network due to centralised nodes
• Greater crypto adoption/use of Binance = increased demand = increased value
Weaknesses
• Centralised control = contrary to ideals of cryptocurrency
• Exposed to greater risk of price shifts due to centralised control of supply
• Risks being treated as a security by SEC as tied to private company profit
—
4. Cardano (ADA)
Strengths
• Strong development team with evidence-based approach
• Transparent roadmap towards decentralisation, scalability, and security
• Deflationary tokenomics, involving staking support
Weaknesses
• Staking addresses link to wallet addresses
• Long rollout with not all planned aspects fully usable
• Censorship can exist due to separation of computational and settlement layers
—
5. Tether (USDT)
Strengths
• Most widely used/highest liquidity stablecoin on exchanges
• Strong record of holding currency value against the dollar
• Legal battle with New York Attorney General recently settled
Weaknesses
• Stablecoin so no more designed as an investment itself than the US dollar
• Centralised supply, which can be minted whenever team decides
• Perceived unscrupulous behaviour by team, misleading about how it’s backed up
—
6. Polkadot (DOT)
Strengths
• Most widespread use of token governing cross-blockchain interoperability
• Enabling secure parallel chains for scalability and reducing transaction fees
• High degree of developer flexibility
Weaknesses
• High fees to run nodes to validate network
• Limited developer adoption compared to Ethereum
• Large amounts of assets held by relatively few wallets
—
7. XRP (XRP)
Strengths
• Enables fast cross-border payments, particularly targeting businesses
• Name recognition and early market leader in payments space
• Negligible fees
Weaknesses
• Strong competition + regulation in market space = slow adoption
• Highly centralised nodes, privately held for proof-of-correctness algorithm
• Recent delistings from exchanges and halts to trading due to court cases
—
8. Litecoin (LTC)
Strengths
• Faster transaction confirmation that its direct competitor Bitcoin
• Long-standing trusted cryptoasset with historically solid top 10 ranking
• Near ubiquitous listing on exchanges and some mainstream adoption
Weaknesses
• Limited developmental input recently in comparison to other projects
• Growing move away from Litecoin as a Bitcoin hedge due to stablecoins
• At risk of being devalued if Bitcoin can be effectively solve scalability
—
9. Chainlink (LINK)
Strengths
• First mover advantage in blockchains/off-chain data feed communication
• Benefits from rise in value of businesses and blockchains it partners with
• Expansive market space for use of native network in real world applications
Weaknesses
• No clear roadmap or timescale for future developments
• Impacted somewhat by the speed of the Ethereum network for data transfers
• Relative centralisation of stored token assets
—
10. Bitcoin Cash (BCH)
Strengths
• Similar computational structure to Bitcoin and therefore easily co-adopted
• Addresses the scalability issue of Bitcoin specifically
• Smaller fees than the majority of its direct competitors
Weaknesses
• Perceived negativity surrounding its leadership, marketing, and community
• Direct competitor of Bitcoin which has a large market advantage
• Variably poor throughput of transactions compared to Bitcoin despite larger block size
—
11. Stellar (XLM)
Strengths
• Fast cross-border payments between individuals
• Negligible fees
• Not-for-profit philosophy = inclusive global payment system compared to XRP
Weaknesses
• Competitor of XRP without first mover advantage
• Nodes are privately held for consensus algorithm, with little financial incentive
• Small centralised development team
—
12. USD Coin (USDC)
Strengths
• Ethereum network stablecoin with fast transfers stabilising other cryptoassets
• More positive press than nearest direct competitor Tether
• Institutional backing
Weaknesses
• Stablecoin so no more designed as an investment itself than the US dollar
• Strong competition from other stablecoins including market leader Tether
• Uncertainty if regulation will impact stablecoin use long term
—
13. Uniswap (UNI)
Strengths
• Tied to performance of burgeoning market-leading decentralised exchange
• Enables holders to engage in the exchange’s governance activities
• Developer team planning major upgrades later in year = version 3
Weaknesses
• High initial distribution to relatively few developers
• Ethereum network token so fees high at times of congestion
• Persistently high inflationary tokenomics given primary use as governance token
—
14. Dogecoin (DOGE)
Strengths
• Fun and engaging story/community encouraging new users of crypoassets
• Low transaction fees
• Relatively quick transaction times leading to some real world adoption
Weaknesses
• Celebrity impact = pumps and dumps unusual for high market cap assets
• Potentially infinite supply limiting value possibilities, despite fixed inflation
• Virtually no development for many years
—
15. Wrapped Bitcoin (WBTC)
Strengths
• Allows Bitcoin liquidity to be used easily within the Ethereum network
• Expands use of decentralised finance network
• Takes the security of bitcoin with the usability of smart contract tokens
Weaknesses
• Wrapping is a centralised process, relying on trust of a central body
• Wrapping can’t be automated within Ethereum = reduced integrity of decentralised network
• Transactions of token subject to potentially high Ethereum gas fees
—
16. OKB (OKB)
Strengths
• Allows low fee trading on the OKEx exchange, the second largest centralised exchange
• Buy-back and burn deflationary tokenomics
• Can be used as payments for any goods and services partnered with NOWPayments
Weaknesses
• Centralised control of token supply and withdrawal
• Multiple OKEx controversies including suspending withdrawals for one month
• ERC-20 token subject to potentially high Ethereum gas fees for transactions
—
17. NEM (XEM)
Strengths
• Blockchain uses novel proof of importance algorithm to improve fairness vs proof of stake
• Applications for transfer of assets, votes, contracts, etc. can be coded in any language
• Major upgrade announced for March 12 which XEM holders can opt into
Weaknesses
• Few key meaningful differences in application to Ethereum, its main rival
• Reputation of team for not being marketing savvy in not finding user base
• Low developmental transparency with poor user interaction
—
18. Aave (AAVE)
Strengths
• Tied to market leader of non-custodial transparent decentralised lending
• Holders can partake in project governance
• Discounts on borrowing for holders
Weaknesses
• Variety of financial options complex and not necessarily intuitive for new users
• Limited current adoption beyond the crypto space
• Transactions of token subject to potentially high Ethereum gas fees
—
19. Cosmos (ATOM)
Strengths
• Unlimited ecosystem of independent interoperable dApp-specific blockchains
• Improves scalability in smart contract system compared to current Ethereum network
• New developments more easily added vs Polkadot = greater adoption potential
Weaknesses
• Tendermint consensus algorithm is limited to fewer validators than competitors
• Less fundamental need for native ATOM token within network compared to competitors
• No capped supply on tokens
—
20. Solana (SOL)
Strengths
• Billed as the fastest blockchain with token used to pay transaction fees
• Smart contract compatible with scalability built in
• FTX recently selected Solana blockchain as basis for their decentralised exchange Serum
Weaknesses
• Large amount of tokens held by development team
• Relatively recent rise to prominence so concerns that value may be unpredictable
• Recent blockchain bug caused 6 hour outage
—
21. Crypto.com Coin (CRO)
Strengths
• Close ties to fiat financial world through exchange and card = more adoption
• High interest rates when staked on native exchange
• Team trying to increase decentralisation preparing for upcoming blockchain launch
Weaknesses
• Little fundamental use case outside of exchange ecosystem
• Centralised supply of token with centrally made major developmental decisions
• Transactions of token subject to potentially high Ethereum gas fees
—
22. Monero (XMR)
Strengths
• First mover privacycoin where transaction tracing is virtually impossible by design
• Highly decentralised development and governance
• Low transaction fees compared to other proof-of-work projects
Weaknesses
• Higher complexity of code base = integration to markets challenging
• Governmental regulation more likely which could curtail listings and activity
• Proof of work blockchain coupled with transaction complexity causing potential scalability issues
—
23. EOS (EOS)
Strengths
• Much higher transaction speeds than main competitor Ethereum
• Negligible transaction fees
• Capacity to run industrial-scale decentralised apps
Weaknesses
• Extremely few existing nodes and inherent difficulty for more
• Essentially hitherto outcompeted by Ethereum and others for dApp takeup
• Community is sour on future and project founder has left recently
—
24. Bitcoin SV (BSV)
Strengths
• Hard fork from Bitcoin Cash with strong vision to create viable payments system
• Large block size enabling fast transaction speeds in comparison with BCH
• Minimal transaction fees
Weaknesses
• Multiple security lapses due to problems with blockchain code
• Fast transaction speeds/low fees has been more successfully adopted using other algorithms
• Strong negative feeling from many in crypto community, many of whom regard it as a scam
—
25. TRON (TRX)
Strengths
• Strong vision of empowering content creators to have ownership of their own web content
• Smart contracts can be created in many programming languages = easier development
• Faster transaction speeds and lower fees than competitor Ethereum
Weaknesses
• Concerns regarding the ethics of founding CEO and team
• Very similar code to other projects but not implementing their more recent innovations
• Delegated proof-of-stake confirming process prone to becoming centralised
—
Edit: BONUS:
26. IOTA (MIOTA)
Strengths
• Market leader in being the first crypto architecture not based on a blockchain (directed acyclic graph)
• Strong developer roadmap aiming for game-changing fast, feeless smart contracts governing IoT
• Comparatively environmentally friendly to other large scale projects
Weaknesses
• Slow rollout of roadmap and early target of removing central coordinating node still not complete
• New technological issues - caused a mainnet outage for 11 days as recently as last year
• As a token made for machine-to-machine transactions, future market is somewhat unpredictable
—
I would add ZIL and VET
Re: Cryptocurrency - Bitcoin Continues to Soar!
ZIL and VET will be big players over the next 10 years.
- MinnGuyInvesting
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Re: Cryptocurrency - Bitcoin Continues to Soar!
After my initial investments in Eth and Btc, I started expanding to others.Bama12 wrote: ↑Sun Apr 11, 2021 3:33 amZIL and VET will be big players over the next 10 years.
It's a total crapshoot it seems. I think more have done nothing or gone down than any that have increased to the rate of BTC or ETH.
It's all to gain long term exposure, but trying to hit on every new cryptocurrency is an impossible task.
If I had just dumped everything into ETH when I started I'd be better off, but no one knows these things.
Eth over 2100 now.
Index ETF's 45% |ARK Funds 30% | AAPL 5% | TSLA 4% | GOOGL 2% | AMZN 1.3% |Other stocks 4.5% | BTC/ETH 9% |
Re: Cryptocurrency - Bitcoin Continues to Soar!
Maybe a crypto index fund of sorts? If you owned the top 5 or so coins, you would probably own a huge percentage of crypto. And of course most would be BTC and ETH.MinnGuyInvesting wrote: ↑Sun Apr 11, 2021 8:20 amAfter my initial investments in Eth and Btc, I started expanding to others.Bama12 wrote: ↑Sun Apr 11, 2021 3:33 amZIL and VET will be big players over the next 10 years.
It's a total crapshoot it seems. I think more have done nothing or gone down than any that have increased to the rate of BTC or ETH.
It's all to gain long term exposure, but trying to hit on every new cryptocurrency is an impossible task.
If I had just dumped everything into ETH when I started I'd be better off, but no one knows these things.
Eth over 2100 now.
Re: Cryptocurrency - Bitcoin Continues to Soar!
BTC and ETH are at all time highs today, yet no posts here. What kind of "Bitcoin Continues to Soar!" thread is this? lol
Re: Cryptocurrency - Bitcoin Continues to Soar!
People are too busy reassessing their IPS documents and strategizing to move (or moving ) large portions of their portfolios to crypto ...
Re: Cryptocurrency - Bitcoin Continues to Soar!
Sorry for duplicate comment as I already posted it in another thread. Just adding here for a fun read, no actionability.
Mike Caldwell — a Salt Lake City, Utah-based timekeeping software entrepreneur — bought $20,000 worth of bitcoin at an estimated 20 cents a pop [in 2011]. Four months later, he sold it for $3 million — a compound annual rate of return of 45,152%......Caldwell could be kicking himself today for selling too soon. With Bitcoin trading at a record $62,732.30 on April 13, if he had held on to the 200,000 bitcoins he bought in February 2011, his stash would now be worth a whopping $12.5 billion...
Diversification is protection against ignorance - WB.
Re: Cryptocurrency - Bitcoin Continues to Soar!
I mean, every one of the millions of transactions prior to today involved someone selling something they now wish they could have held, and that's true not just for bitcoin but for any highly performing stock. I guess with bitcoin it's just especially painful because it's the best performing asset of all time considering it traded for quite a while at only a fraction of a penny.Samosa22 wrote: ↑Tue Apr 13, 2021 2:32 pm Sorry for duplicate comment as I already posted it in another thread. Just adding here for a fun read, no actionability.
Mike Caldwell — a Salt Lake City, Utah-based timekeeping software entrepreneur — bought $20,000 worth of bitcoin at an estimated 20 cents a pop [in 2011]. Four months later, he sold it for $3 million — a compound annual rate of return of 45,152%......Caldwell could be kicking himself today for selling too soon. With Bitcoin trading at a record $62,732.30 on April 13, if he had held on to the 200,000 bitcoins he bought in February 2011, his stash would now be worth a whopping $12.5 billion...
Re: Cryptocurrency - Bitcoin Continues to Soar!
It’s been a good past 6 months being in cryptos. It has accelerated my retirement by several years. I continue to take profits while maintaining a 5-8% in both BTC and ETH.
My other investments which is SPY and some individual stocks in my play account continue to do well also. It’s virtually impossible not to make money in this environment.
But there’s a bit hollowness to all of this, at least that’s how I feel about it. I can’t quite explain it, but I just have this concern that in about 3-4 years, my low-7 figure portfolio (assuming it stays that way) will be the least of my concerns.
40% SPY | 10% stonks | 50% Cash
Re: Cryptocurrency - Bitcoin Continues to Soar!
Don't forget the pizza guy who bought 2 pizzas for 10,000 bitcoin in 2010. 600 million in 4/13/2021 value.Samosa22 wrote: ↑Tue Apr 13, 2021 2:32 pm Sorry for duplicate comment as I already posted it in another thread. Just adding here for a fun read, no actionability.
Mike Caldwell — a Salt Lake City, Utah-based timekeeping software entrepreneur — bought $20,000 worth of bitcoin at an estimated 20 cents a pop [in 2011]. Four months later, he sold it for $3 million — a compound annual rate of return of 45,152%......Caldwell could be kicking himself today for selling too soon. With Bitcoin trading at a record $62,732.30 on April 13, if he had held on to the 200,000 bitcoins he bought in February 2011, his stash would now be worth a whopping $12.5 billion...
Re: Cryptocurrency - Bitcoin Continues to Soar!
XRP isn't stopping either
"In the short run, the stock market is a voting machine; in the long run, it is a weighing machine" ~Benjamin Graham
- MinnGuyInvesting
- Posts: 416
- Joined: Fri Dec 11, 2020 8:24 am
Re: Cryptocurrency - Bitcoin Continues to Soar!
I wasn't watching it today. To busy getting my first COVID shot.
Came home and saw and update.
Record highs.
ETH is having an incredible year.
Bitcoin hit a new high.
Index ETF's 45% |ARK Funds 30% | AAPL 5% | TSLA 4% | GOOGL 2% | AMZN 1.3% |Other stocks 4.5% | BTC/ETH 9% |
Re: Cryptocurrency - Bitcoin Continues to Soar!
Not that I've seen. Just the judge ruling that Ripple can see the other crypto docs which put the SEC in an awkward position.
Are some US exchanges listing them again?
"In the short run, the stock market is a voting machine; in the long run, it is a weighing machine" ~Benjamin Graham
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Re: Cryptocurrency - Bitcoin Continues to Soar!
Doge coin hit a new ATH just below 0.13
Re: Cryptocurrency - Bitcoin Continues to Soar!
I personally, as a young person whose friends buy crypto all the time, believe this fad will end someday, badly. My friends recently bought a coin that went from $0.30 to $16 in a few months. I read the white paper published by the creator of the coin and tried to look using my electrical engineering background to understand how the technology could add value, its basically worthless. Those coins have less value than toilet paper really, at least that has some use. Idk feel like this will end badly
I understand a lot of people don't like the US government, but do you really want to "escape the oppressive US government" (yes, a lot of bitcoin maximalists think this way) into an asset controlled by, of all governments, CHINA???
Btc's main vulnerability is a 51% attack. Chinese miners control about 60% of the btc hash rate. Guess what these companies will do if the government tells them to do something? Exactly what they are told. Can't see how to recommend BTC to anyone around me
I understand a lot of people don't like the US government, but do you really want to "escape the oppressive US government" (yes, a lot of bitcoin maximalists think this way) into an asset controlled by, of all governments, CHINA???
Btc's main vulnerability is a 51% attack. Chinese miners control about 60% of the btc hash rate. Guess what these companies will do if the government tells them to do something? Exactly what they are told. Can't see how to recommend BTC to anyone around me
Re: Cryptocurrency - Bitcoin Continues to Soar!
I agree that when altcoins like Dogecoin and others are doing well, it's a clear sign of irrational exuberance. I would not be surprised to see a big bubble burst soon. But I think BTC and probably ETH and a handful of others will survive and do well in the long run. They have a clear value as a portfolio hedge--I definitely don't think they need to replace monetary systems in order to be a worthwhile investment. I'm not a maximalist; I think central bank digital currencies will pop up very soon and will serve a very useful purpose. But the platforms provided by ETH and other cryptos, and the portfolio hedging tool of BTC, make them very valuable in my view.Desx wrote: ↑Tue Apr 13, 2021 8:57 pm I personally, as a young person whose friends buy crypto all the time, believe this fad will end someday, badly. My friends recently bought a coin that went from $0.30 to $16 in a few months. I read the white paper published by the creator of the coin and tried to look using my electrical engineering background to understand how the technology could add value, its basically worthless. Those coins have less value than toilet paper really, at least that has some use. Idk feel like this will end badly
I understand a lot of people don't like the US government, but do you really want to "escape the oppressive US government" (yes, a lot of bitcoin maximalists think this way) into an asset controlled by, of all governments, CHINA???
Btc's main vulnerability is a 51% attack. Chinese miners control about 60% of the btc hash rate. Guess what these companies will do if the government tells them to do something? Exactly what they are told. Can't see how to recommend BTC to anyone around me
Re 51% attack: as the network grows, so will investment in hash rate around the world, especially hash rate powered by green sources of energy (which hopefully will help reduce BTC's currently terrible carbon footprint). Even if there is some risk in a 51% attack, I think the risk is both small and diminishing over time.
Re: Cryptocurrency - Bitcoin Continues to Soar!
Also my understanding is that Proof of Stake networks are more resistant to 51% attacks, so Ethereum switching to POS would help in that regard (or if another network supplants Ethereum, most of the likely contenders use POS I believe).txhill wrote: ↑Tue Apr 13, 2021 9:10 pmI agree that when altcoins like Dogecoin and others are doing well, it's a clear sign of irrational exuberance. I would not be surprised to see a big bubble burst soon. But I think BTC and probably ETH and a handful of others will survive and do well in the long run. They have a clear value as a portfolio hedge--I definitely don't think they need to replace monetary systems in order to be a worthwhile investment. I'm not a maximalist; I think central bank digital currencies will pop up very soon and will serve a very useful purpose. But the platforms provided by ETH and other cryptos, and the portfolio hedging tool of BTC, make them very valuable in my view.Desx wrote: ↑Tue Apr 13, 2021 8:57 pm I personally, as a young person whose friends buy crypto all the time, believe this fad will end someday, badly. My friends recently bought a coin that went from $0.30 to $16 in a few months. I read the white paper published by the creator of the coin and tried to look using my electrical engineering background to understand how the technology could add value, its basically worthless. Those coins have less value than toilet paper really, at least that has some use. Idk feel like this will end badly
I understand a lot of people don't like the US government, but do you really want to "escape the oppressive US government" (yes, a lot of bitcoin maximalists think this way) into an asset controlled by, of all governments, CHINA???
Btc's main vulnerability is a 51% attack. Chinese miners control about 60% of the btc hash rate. Guess what these companies will do if the government tells them to do something? Exactly what they are told. Can't see how to recommend BTC to anyone around me
Re 51% attack: as the network grows, so will investment in hash rate around the world, especially hash rate powered by green sources of energy (which hopefully will help reduce BTC's currently terrible carbon footprint). Even if there is some risk in a 51% attack, I think the risk is both small and diminishing over time.
Re: Cryptocurrency - Bitcoin Continues to Soar!
All posts are my own opinions and are not financial advice.
Re: Cryptocurrency - Bitcoin Continues to Soar!
Well said. I veered from my boglehead ways and allocated ~5% to bitcoin and now have a rather high% in btc due to its gains this years. While on paper that is great, I actually feel a bit anxious about the world and world economy as a whole. I don't know if I just further appreciate risk now or if things have changed. But I could not imagine having confidence in a 4% withdrawal rate anymore. Whether bitcoin continues to be adopted or it blows up and 10s of 1000s of very intelligent, productive, tech savvy Americans blame the CBs or government for ruining a "more fair, pure system" I feel like it is going to be disruptive to the point that our current portfolios are not as salient in providing security as they used to be.APX32 wrote: ↑Tue Apr 13, 2021 5:53 pmIt’s been a good past 6 months being in cryptos. It has accelerated my retirement by several years. I continue to take profits while maintaining a 5-8% in both BTC and ETH.
My other investments which is SPY and some individual stocks in my play account continue to do well also. It’s virtually impossible not to make money in this environment.
But there’s a bit hollowness to all of this, at least that’s how I feel about it. I can’t quite explain it, but I just have this concern that in about 3-4 years, my low-7 figure portfolio (assuming it stays that way) will be the least of my concerns.
Re: Cryptocurrency - Bitcoin Continues to Soar!
Anyone else do a spit take with their coffee this morning looking at the price of crypto ? Bitcoin $64,000!!!!
I’d trade it all for a little more |
-C Montgomery Burns
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Re: Cryptocurrency - Bitcoin Continues to Soar!
New High.
Ethereum is flying as well.
Index ETF's 45% |ARK Funds 30% | AAPL 5% | TSLA 4% | GOOGL 2% | AMZN 1.3% |Other stocks 4.5% | BTC/ETH 9% |
Re: Cryptocurrency - Bitcoin Continues to Soar!
Almost all of them are flying
I’d trade it all for a little more |
-C Montgomery Burns
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Re: Cryptocurrency - Bitcoin Continues to Soar!
https://www.amazon.com/Boom-Bust-Histor ... oks&sr=1-1Enganerd wrote: ↑Wed Apr 14, 2021 6:40 amWell said. I veered from my boglehead ways and allocated ~5% to bitcoin and now have a rather high% in btc due to its gains this years. While on paper that is great, I actually feel a bit anxious about the world and world economy as a whole. I don't know if I just further appreciate risk now or if things have changed. But I could not imagine having confidence in a 4% withdrawal rate anymore. Whether bitcoin continues to be adopted or it blows up and 10s of 1000s of very intelligent, productive, tech savvy Americans blame the CBs or government for ruining a "more fair, pure system" I feel like it is going to be disruptive to the point that our current portfolios are not as salient in providing security as they used to be.APX32 wrote: ↑Tue Apr 13, 2021 5:53 pmIt’s been a good past 6 months being in cryptos. It has accelerated my retirement by several years. I continue to take profits while maintaining a 5-8% in both BTC and ETH.
My other investments which is SPY and some individual stocks in my play account continue to do well also. It’s virtually impossible not to make money in this environment.
But there’s a bit hollowness to all of this, at least that’s how I feel about it. I can’t quite explain it, but I just have this concern that in about 3-4 years, my low-7 figure portfolio (assuming it stays that way) will be the least of my concerns.
rest assured, we are privileged to witness yet another one of history's financial bubbles.
Financial bubbles, when they blow, can have wide ranging side effects. 2008-09 we are still dealing with the political, economic & social impacts. 1929 arguably brought on WW2 (because the Germans reacted with austerity, and that led right wing populist parties to get enough votes that they President felt compelled to put Hitler in as Chancellor, and the rest is history, as they say).
If there is leverage against an asset bubble, as there very clearly was in the case of the US housing bubble - 6 trillion or so of leverage - then the impact on the downside can be devastating. A negative multiplier on credit in the economy, leading to a collapse of real economic activity.
Similarly there was stock margin in 1929. Some speculators were leveraged 10:1. Now you know why the Fed watches stock margin like a hawk.
However in the case of bitcoin I doubt there is big money lent against it. A bunch of miners in China and Iran? Electricity demand of another Argentina?
So, like Australian diamonds in the early 1970s, or any number of booms and busts on the Vancouver Stock Exchange, this one will rise, become huge, and then collapse. Speculators will nurse losses.
The smart people are taking money off the table, now. Banking half their gains. When it's over they can still say they were better off.
Remember. The entire value of this thing is the presumption that someone else will take it off your hands for more. There is no underlying asset which pays dividends or cash flow to investors. There's no there there.
It's a carry trade asset - -borrow cheap in one place, and invest in Toronto houses (or bitcoin) somewhere else aka "the carry trade". Something that you buy if you are Turkish and you have negative interest rates and the President just fired the governor of the Central Bank. Dollar interest rates on short term money are negative after inflation, some borrowing rates are negative after inflation.
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Re: Cryptocurrency - Bitcoin Continues to Soar!
"Young Person" (;-) you will go far.Desx wrote: ↑Tue Apr 13, 2021 8:57 pm I personally, as a young person whose friends buy crypto all the time, believe this fad will end someday, badly. My friends recently bought a coin that went from $0.30 to $16 in a few months. I read the white paper published by the creator of the coin and tried to look using my electrical engineering background to understand how the technology could add value, its basically worthless. Those coins have less value than toilet paper really, at least that has some use. Idk feel like this will end badly
I understand a lot of people don't like the US government, but do you really want to "escape the oppressive US government" (yes, a lot of bitcoin maximalists think this way) into an asset controlled by, of all governments, CHINA???
Btc's main vulnerability is a 51% attack. Chinese miners control about 60% of the btc hash rate. Guess what these companies will do if the government tells them to do something? Exactly what they are told. Can't see how to recommend BTC to anyone around me
https://www.amazon.com/Boom-Bust-Histor ... oks&sr=1-1
This won't be the last financial bubble of your adult life. Ask your parents about everyone sucking themselves into the US housing boom 2001-06, and the aftermath. (The Canadian housing bubble, now, is worse and will end just as badly for Canadians).
But it might be the first such bubble.
Rest assured, often in life when there's a mad rush towards or away from something, you will test yourself "am I missing something important"? because you will not feel that emotional rush.
Quite possibly you are. I underestimated the effects of the internet, the mobile phone and the Covid-19 virus, even though I had thought about all 3 of them, read William Gibson Neuromancer in the 1980s, knew about the likelihood of a zoonotic virus epidemic, etc.
But sometimes you are not.
This is an interesting experiment in the effects of negative (after inflation) interest rates and the price momentum of something being used to justify an even price. Bitcoin et al are worth even more than their current price, because they have gone up a lot.
Re: Cryptocurrency - Bitcoin Continues to Soar!
This is precisely how I thought about bitcoin during the 2017 run up and bust. I thought I was completely right about it--just another beanie baby fad, it'll vanish now. Then it came back and this time with institutional support. I've changed my position on it; it seems likely to stick around, and the amount of intellectual capital devoted to bitcoin, ethereum, and other cryptocurrencies reminds me a lot of the internet in the 1990s. A lot of people thought they were geniuses for avoiding the 2000 dot com bust--probably Buffett felt pretty good about himself even. And then those same people missed the seismic shift in the economy toward internet-native companies. It turned out that 2000 was just a blip along the way to exponential growth, and an investment in QQQ (tracking Nasdaq) would have done far far better than Berkshire for example, or even the S&P 500.Valuethinker wrote: ↑Wed Apr 14, 2021 8:36 am"Young Person" (;-) you will go far.Desx wrote: ↑Tue Apr 13, 2021 8:57 pm I personally, as a young person whose friends buy crypto all the time, believe this fad will end someday, badly. My friends recently bought a coin that went from $0.30 to $16 in a few months. I read the white paper published by the creator of the coin and tried to look using my electrical engineering background to understand how the technology could add value, its basically worthless. Those coins have less value than toilet paper really, at least that has some use. Idk feel like this will end badly
I understand a lot of people don't like the US government, but do you really want to "escape the oppressive US government" (yes, a lot of bitcoin maximalists think this way) into an asset controlled by, of all governments, CHINA???
Btc's main vulnerability is a 51% attack. Chinese miners control about 60% of the btc hash rate. Guess what these companies will do if the government tells them to do something? Exactly what they are told. Can't see how to recommend BTC to anyone around me
https://www.amazon.com/Boom-Bust-Histor ... oks&sr=1-1
This won't be the last financial bubble of your adult life. Ask your parents about everyone sucking themselves into the US housing boom 2001-06, and the aftermath. (The Canadian housing bubble, now, is worse and will end just as badly for Canadians).
But it might be the first such bubble.
Rest assured, often in life when there's a mad rush towards or away from something, you will test yourself "am I missing something important"? because you will not feel that emotional rush.
Quite possibly you are. I underestimated the effects of the internet, the mobile phone and the Covid-19 virus, even though I had thought about all 3 of them, read William Gibson Neuromancer in the 1980s, knew about the likelihood of a zoonotic virus epidemic, etc.
But sometimes you are not.
This is an interesting experiment in the effects of negative (after inflation) interest rates and the price momentum of something being used to justify an even price. Bitcoin et al are worth even more than their current price, because they have gone up a lot.
The difficult thing is determining whether something is a bubble or the early stages of exponential growth. They look exactly the same. But not only do I think bitcoin is in principle an extremely sound concept, it's also where a huge amount of innovation is happening. I don't think this is a fad that's going to fade away.
All that said: there is a huge amount of irrational exuberance in the space, so I think there will be a boom/bust again, especially in all the altcoins like Dogecoin. Those altcoins seem driven by retail irrationality. But I think the space as a whole will grow rapidly, so I'm in it for the long haul.
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Re: Cryptocurrency - Bitcoin Continues to Soar!
Always good to check back here on occasion and measure sentiment. Glad to see few have grasped what is happening in crypto, and continue to refer to it as a bubble with no underlying value being created. Excellent! It means we still have a long way to go in this bull cycle. Carry on!
Asset Allocation: VT
Re: Cryptocurrency - Bitcoin Continues to Soar!
Hi! I would LOVE an explanation, if you're willing to give it. I am definitely failing to grasp it. When you hear hordes of 20-35 YO talking about retirement by year's end, it's very difficult not to think bubble. I'm not the smartest man in the world, so it wouldn't be the first time I failed to grasp a sound idea! I bought $20-something of BTC back in October, and it's up to $120 this morning. Alas, the rest of my portfolio has not experienced similar growth. Why all in on Crypto, and why Bitcoin, in particular?Prahasaurus wrote: ↑Wed Apr 14, 2021 8:48 am Always good to check back here on occasion and measure sentiment. Glad to see few have grasped what is happening in crypto, and continue to refer to it as a bubble with no underlying value being created. Excellent! It means we still have a long way to go in this bull cycle. Carry on!
Thanks!
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Re: Cryptocurrency - Bitcoin Continues to Soar!
If someone actually continued buying after the Nasdaq fell over 80%, they would have been rewarded to this point for taking on more risk. Many people crowding into tech near the top were clearly not rewarded for their risk. As shown by the lower ratios, more risk may not be rewarded.
https://www.portfoliovisualizer.com/bac ... ion3_3=100
On the other hand, the decade leading into the discussion essentially did not reward stock market risk relative to cash. Whatever happens in the future is unknown at this time, and risk may or may not be rewarded across a particular period.
https://www.portfoliovisualizer.com/bac ... ion3_3=100
45% US Indexes, 25% Ex-US Indexes, 30% Fixed Income - Buy & Hold
Re: Cryptocurrency - Bitcoin Continues to Soar!
To keep it simple start with the base case of Bitcoin as digital gold. I believe that at least Bitcoin will replace gold as store of value. That would be about $500k per Bitcoin.Fudgie wrote: ↑Wed Apr 14, 2021 9:23 amHi! I would LOVE an explanation, if you're willing to give it. I am definitely failing to grasp it. When you hear hordes of 20-35 YO talking about retirement by year's end, it's very difficult not to think bubble. I'm not the smartest man in the world, so it wouldn't be the first time I failed to grasp a sound idea! I bought $20-something of BTC back in October, and it's up to $120 this morning. Alas, the rest of my portfolio has not experienced similar growth. Why all in on Crypto, and why Bitcoin, in particular?Prahasaurus wrote: ↑Wed Apr 14, 2021 8:48 am Always good to check back here on occasion and measure sentiment. Glad to see few have grasped what is happening in crypto, and continue to refer to it as a bubble with no underlying value being created. Excellent! It means we still have a long way to go in this bull cycle. Carry on!
Thanks!
Goldman CEO Solomon this morning: "I think Bitcoin is on an inevitable path to have the same market capitalization and then a higher one than gold."
Re: Cryptocurrency - Bitcoin Continues to Soar!
I suspect Mr. Solomon knows why HE thinks that, but I still lack that understanding. What is YOUR understanding? Why must it match or surpass the market capitalization of gold? Maybe just a pointer to the main write-up that made you a believer.bitdocmd wrote: ↑Wed Apr 14, 2021 10:20 amTo keep it simple start with the base case of Bitcoin as digital gold. I believe that at least Bitcoin will replace gold as store of value. That would be about $500k per Bitcoin.Fudgie wrote: ↑Wed Apr 14, 2021 9:23 amHi! I would LOVE an explanation, if you're willing to give it. I am definitely failing to grasp it. When you hear hordes of 20-35 YO talking about retirement by year's end, it's very difficult not to think bubble. I'm not the smartest man in the world, so it wouldn't be the first time I failed to grasp a sound idea! I bought $20-something of BTC back in October, and it's up to $120 this morning. Alas, the rest of my portfolio has not experienced similar growth. Why all in on Crypto, and why Bitcoin, in particular?Prahasaurus wrote: ↑Wed Apr 14, 2021 8:48 am Always good to check back here on occasion and measure sentiment. Glad to see few have grasped what is happening in crypto, and continue to refer to it as a bubble with no underlying value being created. Excellent! It means we still have a long way to go in this bull cycle. Carry on!
Thanks!
Goldman CEO Solomon this morning: "I think Bitcoin is on an inevitable path to have the same market capitalization and then a higher one than gold."
Thanks for taking the time to reply!