Cryptocurrency Sentiment: I’m Hodling on to my Crypto because I can’t see any better option for millennials

Sentiment: I’m Hodling on to my Crypto because I can’t see any better option for millennials
The biggest banks in The Netherlands about to claim negative interest rates at July 1st. THIS IS HUGE FOR CRYPTOCURRENCY'S
Unpopular opinion: People who think consumers will reject centralised cryptocurrencies are kidding themselves
Bitcoin stood the test yesterday (again)
Markets are moved by psychology, not fundamentals (even crypto) - Change my mind!
Word of advice: everyone in this sub is looking after themselves. Don't listen to the consensus. Decide for yourself.
China Bitcoin mining ending are awesome news
Other numbers besides portfolio value that matter
Always have some fiat saving for emergencies!!
Everything is good for Bitcoin - give me any statement and I'll explain why it's actually good for Bitcoin
Bitcoin Gets More Popular in The UK, But Few People Actually Understand It
DeFi is exploding. Last year we had 82 million unique addresses. Now we have over 150 million. The data is compelling.
In 2021 alone, the value of DeFi assets has surged by over 600% however, recent hacks have caused over $260M loss to the users (Easyfi Network, Pancake Bunny). Causing substantial sabotage to the growing DeFi ecosystem. Insurance protocols play a pivotal role in managing such cybersecurity risk
Texas crypto users will soon be able to buy and sell tokens at major supermarket chain!
Meet the company mining bitcoin using the flare gas from oil drilling - and drawing investment from Coinbase and the Winklevii
Biggest state in Germany introduces digital school certificates on the blockchain.
Of course Mark Cuban now wants more regulation in Crypto

Sentiment: I’m Hodling on to my Crypto because I can’t see any better option for millennials

Posted: 20 Jun 2021 01:20 AM PDT

Saving accounts? 0.1% interest isn't going to help at all in building wealth. ❌

Real estate? Housing prices are so expensive millennials can barely afford to own their own house, let alone invest in rental property.❌

Higher education? A degree is so common nowadays it doesn't confer any extra advantage. PhDs are in oversupply, many are stuck in low paying adjunct positions. (Ok this is a partial tick ✅, but no one is going to get rich just by having a higher degree.)

Stocks? Partial tick ✅ only for Frontier Technology like Electric Vehicles. No one is going to get rich investing in Apple, Amazon, FaceBook in 2021, the time for that has passed 10 years ago.

Crypto's institutional adoption only really began this year in 2021. DeFi started less than 5 years ago in 2018-2019, but again really became popular only recently. Crypto (those of good quality) is literally one of the most promising things a millennial can invest in.

submitted by /u/ethereum88
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The biggest banks in The Netherlands about to claim negative interest rates at July 1st. THIS IS HUGE FOR CRYPTOCURRENCY'S

Posted: 20 Jun 2021 02:50 AM PDT

https://www.abnamro.com/br/en/news/threshold-for-negative-interest-rate-down-to-150-000-euros

From 1 July 2021, ABN AMRO clients in the Netherlands with a total balance of more than 150,000 euros in their bank accounts will pay 0.5% interest on the amount above this threshold. This will apply to both private individuals and business clients. The interest on deposits under 150,000 euros will remain unchanged at 0%.

https://www.dutchnews.nl/news/2021/04/rabobank-to-charge-customers-interest-on-savings-over-e100000/

Rabobank has become the latest Dutch bank to charge customers if they have savings of above €100,000. The bank will now levy a rate of 0.5% on savings of over €100,000 from July 1. The change, the bank says, will impact on just 4% of its customers. ING and Volksbank have already introduced negative interest on savings above €100,000, while ABN Amro has a limit of €150,000. The move, Rabobank says, has been prompted by continuing low market interest rates.

https://nltimes.nl/2021/04/11/ing-starts-charging-negative-interest-savings-eu-100000

ING customers with more than a hundred thousand euros in their account must pay a savings interest of 0.5% on this from 1 July. The bank will then lower the negative interest threshold from € 250,000 to € 100,000.

The negative interest applies to both business and private ING customers with more than € 100,000 in their accounts. ING emphasizes that the interest applies per account and not per customer. Spreading money over several (savings) accounts at the bank would thus offer another chance to escape the negative interest rate. On the other hand, there are higher costs per month for holding multiple accounts.

Conclusion: FUCK BANKS. CRYPTOCURRENCY'S ARE THE FUTURE.

submitted by /u/Wombeard
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Posted: 20 Jun 2021 03:59 AM PDT

Looking at the world people really don't care what goes on in the background. Our phones and trainers are made by exploited child workers. We buy en mass from unethical companies like Nestle, Shell etc. I know exactly how Amazon treats it workers yet I buy things from there every week.

I hear it echoed on here quite often that x crypto is no good because it's too centralised. The reality is that most consumers don't really know what that means or why it's good or bad. Even if they do most people will still happily choose a cheaper product without caring about that too much. In an ideal world the decentralised cryptos would win but we need to face the fact that in the future some of the most popular cryptocurrencies will likely be centralised.

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Bitcoin stood the test yesterday (again)

Posted: 20 Jun 2021 01:16 AM PDT

Yesterday Bitcoin went 1 hour and 11 minutes without producing a new block. Did you guys notice it/read about it? Some of the veterans in crypto space will probably remember this happen before in the past.

As we are all aware, China is cracking down on mining farms. The farm in Sichuan was expected to have a big % of the global hashrate. You can imagine that shutting down large players like this was going to leave the blockchain in a very difficult and uncertain position.

Congestion is a major issue when this kind of problem arises and because of the reduced hashrate and the same untouched difficulty and volume it takes much longer time for the farms to validate transactions. Subsequently the fees are increasing trying to combat this while raw power needed for guessing the solution to Satoshi's problem is reduced.

Difficulty is beign adjusted every 9 days as per Satoshi's code to preserve average block time of 10 minutes. Well despite that, fortunately, after that one hour a new block was produced and after that operation resumed like always.

Bitcoin once again passed the test. It shows you how resilient a decentralized chain like Bitcoin is and why its here to stay for a long time.

TLDR: not even the CCP can stop us.

Adapt and overcome!

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Markets are moved by psychology, not fundamentals (even crypto) - Change my mind!

Posted: 20 Jun 2021 03:08 AM PDT

Coming from the stock to the crypto world, it's not that much of a change: in many aspects it seems that there are psychological and social factors that matter much more than fundamentals.

The plethora of chart/fibonacci-based predictions is based on market sentiment isn't it?

I'd like to hear criticism!

submitted by /u/Electrical-Type-6150
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Word of advice: everyone in this sub is looking after themselves. Don't listen to the consensus. Decide for yourself.

Posted: 20 Jun 2021 02:02 AM PDT

This is for newbies.

When users here call you "paper hands" for selling, what they actually mean is "dont sell until I recover my investment, so I can sell!"

I'm sure you've seen these comments in a bear market:

Fall by 10% - "This is just a correction! Don't sell!"

Fall by 20% - "This is the bottom! Dont be a bottom seller"

-30% - "Dont be a paper hand. HODL!"

-40% - You are selling to the institutions. They're buying and fooling you!"

-50% - "What's the point in selling now?"

This is not advice. This is "pls stop selling so I can sell my bags on you later!"

TLDR: sell whenever you want and don't listen to the toxicity of this sub

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China Bitcoin mining ending are awesome news

Posted: 19 Jun 2021 09:38 PM PDT

Moneybadger don't give a fuck.

These are fantastic news for Bitcoin:

Bitcoin mining gets more descentralized.
Bitcoin mining gets more clean (renewable energy sources).
Bitcoin miners in other countries become more profitable.
Bitcoin miners all around the world get cheap mining rigs from China.
Mining difficulty automatically adjusts as per protocol, neutralizing the effects of less (or more) mining rigs coming on/off line.
This kills the FUD about: "China controls Bitcoin!" (China will have no miners, no exchanges, no nothing to 'control')
This kills the FUD about: "Bitcoin uses dirty energy!" (Bitcoin mining uses mainly clean energy but in China part of the mining was being done with coal).
This kills the recurrent FUD: "China bans Bitcoin!" (there's nothing left to 'ban' for them in the future).

submitted by /u/simplelifestyle
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Other numbers besides portfolio value that matter

Posted: 19 Jun 2021 08:53 PM PDT

Cholesterol level
Days since you treated someone unkindly
Max pushups
Air pressure in your tires
Miles since last oil change
Months of mortgage / rent in reserve
Max situps
Heart BPM after running a mile
BMI
Credit Score
Number of Skills Mastered
How many tools you know how to operate
Words in your Vocabulary
Books read in last year
Number of workouts in the last week
Credit Available

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Always have some fiat saving for emergencies!!

Posted: 19 Jun 2021 09:00 PM PDT

I used to have some saved fiat for a just in case scenario, was money to live 1 year in case that something really bad happen. I give it all to my father so he could buy a house since he was short of $$, when he divorced he gave the house to my mother, so he has been renting for long time.

After giving the money to pops, i started acumulating a lil bit of cash as also doing monthly DCA into crypto, a little bit of both. I saved money for maybe 1 month survival, but one week ago something happened in my life that i needed to use a couple of k, i didnt had that money in fiat, i couldnt ask my parents since they also dont have, dont wanna go ask friends because its not common here, and the loans of the banks in my country kills you with interesets. Sadly i had to sell some sats, it didnt destroyed my position, in these months i also acumulated by doing DCA, staking, airdrops, etc so i guess it wasnt that bad... But it made me sad as hell having to sell some crypto, more knowing we are on a accumulation phase.

Just a reminder to everyone and also to myself, always leave some $$ beside for unexpected life events.

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Everything is good for Bitcoin - give me any statement and I'll explain why it's actually good for Bitcoin

Posted: 20 Jun 2021 02:56 AM PDT

Fees are too high - just shows how much demand there is

Fees are super low - it's so cheap and frictionless!

Bitcoin is banned? - they're afraid of how powerful it is

Mining is bad for environment - bitcoin actually encourages movement to renewable sources

Company buys bitcoin - institutional adoption is here! We're all rich!

Company dumps bitcoin - bitcoin is for the people, we dont need them anyway

China bans miners - it still works without them and no longer uses dirty coal!

Bitcoin moons - I'm rich!