I'm irrational right now, I want my sats to recover a bit even if my overall $ is worse.

Please sats come back to me. I remember feeling like this in 2017 and eventually it all felt ok with alts, but right now strong feelsbadman

LMFAO
brb starting the process of consolidation
at ~32 000
and 773 ~

absolutely freakish

no kidding, are we gonna see +2k or what lol considering what btc has done

Can you guys steelman ETH for me? Not fudding my own bags (I have in the order of ~$100,000 ETH) but it is becoming harder and harder to see the value prop.

********************/@ivan.klianev/pre...e-11144399c288

Polkadot XCMP + parachains will ship 2021 and Cosmos ICM + main hub is ready for use. Both will take market share from ETH ultimately given users will have no loyalty to the layer 1. Imagine you are using an exchange (uniswap) through a web browser; as an end-user, why would you care what it is running on?, as long as it works for you as intended it doesnt matter. One could even argue even the application layer doesn't retain a loyalty moat, someone can build a front-end that connects to it and the best UI/UX front-end actually retains a loyalty moat - this further obviates loyalty at the layer 1 level.

ETH's utility basis for value also incentivizes applications built on top to use competitors, ETH value appreciates from higher rent collected through transaction fees but that is passed on to the end user. Its a vicious cycle like our beautiful capital economy where the end users and sales migrate to the most cost effective.

Cosmos is particularly impressive with terra money and thorchain (rune) running on top. Terra money is actually seeing real adoption in Korea. Rune has positioned itself as the cross chain decentralised exchange of choice. It also suffers the fate of ETH in that rent extraction makes it less competitive.

Its simple: first mover advantage.

Theres plenty of coins over the years that were better than bitcoin yet that old piece of chit is still king. Why? Because first mover advantage

Bitcoin has a different value proposition. Its a dominant non-sovereign store of value that competes with gold + foreign reserves with a bull case for monetary value.

Eth is more akin to a profit yield company with a utility basis for value where the first mover doesn't enjoy a significant advantage if any. Look at the failure in online market places compared to Amazon, look at the failures in search engines before google.

First mover advantage doesn't mean sqaut for layer 1 smart contract protocols. I'd also argue PoW is far better than PoS or the non-work related variants for a store of value. You want the guaranteed security of PoW where blocks are buried by energy + mining capital with immutable and predictable monetary policy over nascent staking based consensus that is vulnerable to future attacks + weak subjectivity.

alt season when sirs?

If it's gonna happen, it's gonna happen now.

madness
33500 ...

its insane that the pump is resuming again in the evening

34k

why the fuk is doge pumping.......

We are about to hit 35k. This means grinners will have to take another 5% profit in how many days?

The lesson here is that in a parabolic run in a nascent emerging market that is just beginning to attain institutional adoption, this may severely reduce you unrealized gains.

noo fuuuu dump

shorting dis bs

This is a bubble. This ain't it. Totally unhealthy price action.

10 day RSI at 92.46.

2017 bubble peaked at 96.91.

How is that a bubble burst signal?

Bitcoin is literally garbage ancient tech with a cult following. Store of value is literally a meme the community came up with to cope with how bad bitcoin actually is at doing whats its original purpose was, yet it was the first blockchain so thats why its still being “used”. There’s literally no other reason bitcoin is the biggest other than it was the first coin, most used for a while, and most famous.

I can promise you with 100% satisfaction guarantee that Ethereum will have the same story in 10 years since it was the first smart contract blockchain, the most used smart contract blockchain by an enormous amount, and the most famous smart contract blockchain.

The problem is you understand this while normies don't. Accumulate cheap future tech and ride the ETH wave until this cycle is over.

I just can't see 40k being the top of this cycle. Unless the cycles are shortening due to some new factor. We should be going closer to 6 figs. Bull market until summer 2021.

Yea ETH isn't a keeper. I'll hold it as long as people irrationally allocate into it on the basis btc is too expensive.

The top will be when an alternate cross chain protocol starts seeing high adoption. Compound's plan to migrate off ethereum onto its own chain is an ominous sign. That's probs when I seriously think of exiting.

its very hard to predict where price will top or in general its very hard to predict longer term price movement.

for growth stocks like tesla or amazon, i feel holding outperforms.. I am unsure what will happen with btc..

charts do look like its the start of another bull run.. we will see, hope fully no bad fundamental news comes out.

How can this price action be sustainable? 1k a day? gtfo.

That being said I can't seem to sell very much.

Me still waiting to buy the next Bitcoin dip but it just keeps going up



What do brahs, buy it out or wait?

Normally I would say wait, but what are we actually seeing right now? Are we seeing institutions and big money cats taking all the bitcoin away from all of us normies? It kind of feels like it.

This is... unhealthy

It's a bubble man, gotta be a 30-40% correction soon, maybe even worse. People are gonna be crying and bloody after this. This wasn't supposed to be another f*cking bubble. Crypto is screwed.

People were saying that at levels of 25k, 30k and now we are approaching 35k

It can burst sure, but it can just go up to 50k just as easily without any sign of slowing down

Waiting on a dip is generally advisable, but id say what we are seeing can be just the start of this already outrageous run, it can go either way at this stage but right now it seems unstoppable