[Daily Discussion] Saturday, November 14, 2020 Bitcoin Markets |
- [Daily Discussion] Saturday, November 14, 2020
- [Altcoin Discussion] Saturday, November 14, 2020
- Some thoughts on bitcoin dominance
- [Android] [Bitcoin] Simcash- sell your unused sms (passive income)
| [Daily Discussion] Saturday, November 14, 2020 Posted: 13 Nov 2020 08:05 PM PST Thread topics include, but are not limited to:
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| [Altcoin Discussion] Saturday, November 14, 2020 Posted: 13 Nov 2020 08:05 PM PST Thread topics include, but are not limited to:
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| Some thoughts on bitcoin dominance Posted: 14 Nov 2020 05:18 AM PST In my opinion, the dominant pattern in bitcoin dominance is the symmetrical triangle we are currently forming. Maybe it's obvious to everyone but I haven't seen anyone talk about it. https://www.tradingview.com/x/l7Jm7iJA/ The trendlines intersect in early May, so I would expect that by late 1st quarter/early second quarter of next year, the medium term direction of bitcoin relative to other altcoins. We don't know whether or not it will break up or down. However, I would expect it to break up, for several reasons. 1) Bitcoin functions as a competitor to gold without any additional changes or development. It is essentially a complete project, and to be honest, doesn't really need to scale at the base layer in order to compete with gold. It makes some sense that, due to its stock to flow, and the "digital gold" narrative, bitcoin might have a market cap similar to gold. Ethereum, by contrast, is not complete compared to what it is trying to do. It is currently trying to move to Ethereum 2.0, and that project is possibly years away from completion (rollout keeps on getting pushed back, for one). And of the all the altcoins out there, Ethereum is the best developed. It just doesn't make sense for the altcoin market to be valued equally to or higher than an asset class like gold. I expect that the market will price in the incompleteness of altcoin projects relative to bitcoin as market caps rise. 2) Just look at some of the headlines. You have microstrat and square purchasing giant amounts of bitcoin. You have IRAN accepting payments in bitcoin. Do you see any other companies making large purchases of Ethereum or other altcoins? Likewise, look at the headlines when paypal allowed its users to purchase bitcoin. Were the headlines "Paypal lets its users purchase Ethereum"? Or were they "Paypal lets its users purchase Bitcoin and Ethereum"? NO! They were "Paypal lets its users purchase Bitcoin". What this all illustrates is that bitcoin is a known quantity compared to Ethereum and altcoins. So when crypto starts getting attention, Bitcoin will lead the way relative to altcoins. 3) Maybe you don't believe me because my name is u/Happy_Pizza_ and not u/Rambo_Degen_God_Trader. If so, then take it from Messari. In their report Crypto Thesis for 2020 (which, for the record, is a year old), they basically agree with me.
However, it's not all bad news for alts. I think bitcoin dominance will spike to the 80% range, but after that, we will be set up for a pretty nice altcoin season in the latter half of 2021. Why? I think there are a few reasons. 1) If bitcoin starts breaking +100k prices, that will bring an enormous amount of money into the entire crypto sphere. Retail will feel that bitcoin is too expensive and put money into altcoins they perceive as less expensive. 2) Savy crypto hodlers and traders, who know enough about altcoins to have opinions of them, will almost certainly rotate some of their bitcoin gains into altcoins. 3) Altcoins deserve to be funded. Some of the stuff they are doing with decentralized finance is pretty interesting and does not compete directly with bitcoin. People will see the potential for profit to be made, they will look for the next bitcoin, ect. Because of this, I expect bitcoin dominance to look something like this, for 2021. https://www.tradingview.com/x/OwTDWhfy/ Bounce to +80% dominance late 1st quarter early 2nd quarter 2021, ending some time in mid year, then a move back to the upper 60% range in the later half of the year. [link] [comments]  |
| [Android] [Bitcoin] Simcash- sell your unused sms (passive income) Posted: 14 Nov 2020 04:05 AM PST Simcash https://imgur.com/We1eldU is a messaging app that will use your sms to send one-time verification texts or promotional messages. The amount of sms and the earnings-per text will be decided by you. Speaking from personal experience , i chose to sell all of my sms at 0.06 dollars per text and earn up to 30 dollars per Month; moreover, the app itself will delete the messages so there won't be any clutter on your phone. The payment methods are: Paypal, Bitcoin, Ripple or Bank Transfer, minimum amount is 6 Dollars. Please join via my referral link https://www.simcash.io/?r=4Z3UN non referral link [https://www.simcash.io/ ] Here's payment proof https://imgur.com/P9NT89s https://imgur.com/056nJpq If you want to thank me use code 4Z3UN Little tip: make sure that your provider allows unlimited texts, otherwise stick to your own limit, btw you can use multiple phones and sims on one account. Happy earning! [link] [comments]  |
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