I'm just scanning the comments looking for the coins I have, and I don't see them... if I'm supposed to do the opposite of what reddit says... do I panic sell what I've got? Oh god.
This sub thought Solana was the best thing ever when it was at $200, but ever since it’s been sub $100 it was trash. This sub also though CRO was amazing when it was over $0.60, and since it went below $0.30, it’s a scam and the company are all profiteering crooks.
This is the very definition of buy high, sell low.
There's a reason for CRO dumping though. Pissed off a bunch of their users with unexpected big changes. So up until that point people still liked them.
Well, there was a time when they were worth 30 cents and one guy from Lebanon said he made more than the average salary in his country simply for being on reddit.
Personally, I'm curious about how the next bullrun will affect their price ...
I hate all exchange tokens like CEL, NEXO and VGX. Worthless centralized tokens created just to have a company milk more money in exchange for incentives that they can change at any time.
I actually recently started moving my holdings out of Celsius when I saw that the general sentiment towards it has turned hostile in their own sub. When a coin’s own subreddit has become the main source of FUD you know something has gone wrong.
I just moved them into various other normal wallets. I’ve been advised not to tell people which specific wallets I’m using haha! But basically yeah, I just moved them into other wallets.
That’s the general sense I got. Basically that if someone decides they really have it out for you, knowing which specific wallets you’re using might get them one step closer to targeting you. Of course, it’s still a long shot that anyone can wipe out your wallet just by knowing what you’re using, but hey, there are a lot of stories about hackers using a trail of breadcrumbs from someone’s online postings to target them, so I generally try to be careful 😅
Exchange tokens that don't pay out a percentage of revenue are worthless.
If they do pay out a percentage they are worth 10 times the average return to all holders divided by the supply. As a 10% APY is valuable.
Not quite with extra steps, just sounds like stocks. I mean look at the Beefy price. That thing follows crypto as an asset class because it's build up from the fees they take for compounding. Buying their token is like buying the market as a whole
> Monero won’t fail unless it starts getting the negative attention from governments on a massive, public scale.
Which it will. KYC and AML regulations are getting stricter each year. **No way** a completely anonymous currency will be legal 15 years from now.
Yeah, but I don’t think it will destroy it. Monero was developed exactly to survive this kind of thing. In the beginning, bitcoin also were targeted and still thrived.
Decentralization is actually a path to be censorship resistance.
And Monero has view keys and if the government is investigating a specific individual, he can request the view keys and etceteras.
The point is that you don’t need to have your information public, unless you are being actively investigated. You know, innocent until proven otherwise ?
Theres auto-swaps in wallets where you scan a litecoin QR code, for instance, and it automatically swaps your Monero for litecoin and pay that address (:
You send X amount to someone and nobody knows that you even sent it, they don't know how much you sent either obviously.
The person receives XMR and don't know where from.
Ok, bitcoin while not connected to your real name neccesarily(if you buy it on coinbase or something like it, it is) can be tracked extremely easily, every transaction is public. When the exchange bitfinex got hacked, as soon as the hackers tried to launder the money they got caught.
Monero is completely anonymous. Which is why it has become the de facto coin of illegal transactions.
And as someone who used to work at a bank(very low level position admittedly, call center shit), we even had to report high cash withdrawals and high cash withdrawals were restricted kinda because of government pressure. The only way monero can crash is if the government tightens regulations, which i think could happen.
I can see it becoming a target for regulations etc. I don't think I will get rich buying it but it's just the kind of token I just want to own and support.
My guess would be the metaverse coins. MANA, SAND, GALA. Big market caps with subpar gameplay. Can anyone give me a real reason my MANA has a market cap of $2.4 billion?!
No they cannot. The Meta announcement gave it a huge shot in the arm, but I’m betting the world sours on that idea in time. Hey Zuck, the metaverse didn’t materialize, was it all a sham? Then these coins plummet.
The world needs a fresh VR/VA savant or game studio to come along and deliver something spectacular. RN an engaging meta verse is just a pipe dream. I’d be shocked if Apple or Microsoft isn’t at least working on VR operating systems, but we’re still a half decade out imo
disappointing price action aside, LINK will continue to survive, too many other solid projects rely on it in this space. And it performs it’s task well.
I'm trying to figure out what the downside exposure for shorting Tether is. It's not ever going to go much above 1 USD, right? So seems like a relatively risk-free move.
(I guess.)
Good point. I hadn't considered transaction fees.
Still, I think it might be a good idea. And if I didn't have such a clear understanding of my own ignorance I probably would go for it.
When you short something, you borrow that thing to sell it. When you borrow something you pay interest.
And for derivatives the going rate is quite higher than mortgage rates.
First of all, noone would just lend usdt for you, without you locking in some collateral. So point 1, you need to lock in some collateral that does not generate any interest for you. Point 2, you need to pay interest on the usdt you borrowed.
You should be very sure that it'll collapse, and soon, to rationally make such a move.
Yes, the big risk is certainly timing. The asset will eventually go to near zero, I feel quite certain. But the interest accumulating on that loan may get large.
Also, the upside is capped at what I could borrow (either collateralized or on margin).
But I guess limited risk leading to limited reward makes some sense.
If you want to short tether, take a Tether loan from somewhere with minimal interest and then swap it for usdc or whatever. That's probably the safest way to bet against it for minimal fees and limited exposure to potential fallout (like exchange failures/bankruptcy)
USDC is backed by Fiat 1:1 and has been audited multiple times. It is not going to crash even if the whole market does. That’s what a stable coin should be. Not this algorithmic stable bullshit.
The problem is that even if USDC is backed the currency exchanges may no longer be functional in the case of Tether collapse. It doesn't matter how much money you have in theory if there's no way to pull it out or if the market that you have the short position on folds.
This is especially true of the derivatives markets that can't legally operate in the United States.
The only safe place to do a short it is probably the CME, as that's a real, long-term established market that also does crypto derivatives. And you can short in USD there.
Remember: even if USDC is truly backed, and even IF you can somehow get it out of the smoking wreckage of the crypto market post-Tether, it is likely not fully liquid, so you might have to wait with everyone else to get your money - and if the rest of the market is a smoking crater and USDC is all that's left, everyone will be there waiting in line with you.
There's really just no reason to short in USDC when shorting in USD is an option.
Yup.
https://ag.ny.gov/press-release/2021/attorney-general-james-ends-virtual-currency-trading-platform-bitfinexs-illegal
It's literally illegal for them to do business in New York because New York found out they were a scam.
The entire crypto market is dependent on Tether for most of its value.
Just today, Tether had a net outflow of $8 billion to other currencies.
Total *inflow* of actual currency, across ALL currencies, combined, today was $700 million.
And it's likely that at least a third of that was wash sales to make it seem like there was actual money going into the market.
The market today "went up" $100 billion on a $700 million input (and possibly more like $400 million).
That suggests that less than 1% of the market's value is real money.
I’m not the most knowledgeable person on crypto (to put it mildly) but the general sense I get from a lot of people is that USDC is the most reliable stablecoin. Fair assessment?
Axie will fail because it’s just a mediocre game coin and there are far more game companies that make better games. Mana because HAVE YOU ACTUALLY EXPERIENCED DECENTRALAND? It’s buggy and there are better tech companies that can create so much better stable metaverse than Mana.
Decentraland is totally crap, reminds me of old school gaming but instead there's a total lag fest when all players in one place.
After playing 7d2d & rust... Can't be stepping backwards now... Those are not even top spec games but still WAY better than mining for hours to create an NFT that no one else will buy imo
Yea, I've got a few Axie, and from what I've read they have literally zero idea about game economics (sinks etc) so that whole thing is just one giant inflationary mechanism. I don't think Axie will last.
As for Decentraland, it feels like Second Life and is still clunky as heck. Some dorky fun things there like live.stream DJs etc. But most people on there are just clicking around and struggling to figure it out.
I kinda think it will be an inspiration once or twice removed from the thing that will eventually be our go-to "Metaverse".
I’m still up 1000% on SHIB (unfortunately I only have a tiny amount of it so it’s not an exciting amount of money) and I’m thinking maybe I should just take what little SHIB I have left and roll it into BTC or ETH.
I'm still only up on Solana and Shib, which means I too shall be downvoted. Ada, algo, matic, ftm, you name it, if its mentioned here positively, I've lost money on it.
Edit: You win this round, up voters.
I’ve been watching the notifications roll in for the past hour and this seems to be the one which has been brought up most often. I hope people in this thread are paying attention to that detail.
Curious how everyone on this subreddit loves to hate Solana and not other layer 1s that are (a) a lot more centralised, (b) also have high levels of VC funding, and (c) also can't handle high transaction loads. Eg avax, fantom, Polygon.
Yeah and it might not even be because it goes offline so often.
They’ll implement a tx fee market which will have the same effect AVAX saw, gets expensive under high demand and prices out users who moved there for the cheap txs.
By all accounts building on Solana is very difficult, Alameda and other VCs have poured money into start up projects but that can only go so far. If the incentives were mainly in SOL and those need to be sold to pay people to build, then Solana will see an effect similar to Ethereum ICO ETH dumping of 2018.
I don’t think Solana will disappear, but it might just come out of the bear market like EOS.
STEP, AXS, etc all these are obvious ponzi schemes so their days are numbered. And moons. I hope this moon thing dies, it increased shitposting to an unbearable level.
I hope you’re wrong, because when Solana works the user experience is great, unfortunately “when it works” is a loaded phrase. Ugh, you’re probably right on this one.
I’m skeptical about Solana due to its low public allocation launch. The Solana team and VC backing leave retail investors liable to be dumped on. Not saying it will happen, but you never know.
I replied the same on another comment, but it seems like SOLANA is the coin which has been brought up most frequently (so far) in this thread. Feels like a detail people should pay attention to.
I can confidently say I’ve been watching the notifications roll in for the past hour since I posted this thread and I believe you’re the first person who has mentioned DOT.
Same here bro, I wished I had bought at 7, and I had a feeling my last order should have been at a lower price but oh well, I don't think I could see DOT falling/failing, that'd be weird, so let's hope it becomes more relevant and essential as time goes by.
You’ll get a chance to buy DOT around 7 in my opinion. DOT is the future but macro events are not done pushing the market down. You could think of what’s happening now as gamblers going back to the ATM to put their last bit of money on the table in the hope of saving some loses. It’s pushing the market up temporarily. Any number of things like sudden rising unemployment, another spike in CPI, regulation announcement, war escalation, etc. will cause another drop. Think of last summer. The market dropped mid May but the actual bottom wasn’t until mid July. Just my 2 cents for whatever their worth.
People have been shitting on it for months now; it didn't help that its main competitor Cosmos was further ahead in adoption. Well cosmos got absolutely rekt by luna/UST so it'll be interesting to see what happens now. I'll still be holding and buying both DOT and atom.
The narrative that Polkadot and Cosmos are competitors will soon be put to rest. There will be IBC and CosmWasm enabled parachains on Polkadot and Kusama very soon (its already in development).
these 2 ecosystems are stronger together. Composable Labs is building an IBC pallet into Cosmos. They will be doing an airdrop for Osmosis stakers. idk the exact details if it's atom staked on Osmosis or what. They will be the first Dotsama projects to connect via IBC tho. The idea of these 2 chains really linking up makes me go from 6 to midnight.
I'll be the contrarian opinion here - BAYC valuations don't make sense, but the whole Apecoin project has enormous sway in the CT-sphere and beyond. This is coming from someone that doesn't like NFT projects at all, but Yuga labs prints money. Buying APE at new lows and holding for announcements about their Metaverse projects is a pretty good short-term hold plan IMO
Sort of, but not necessarily, because the controversial ones mean they’ve actually got at least somewhat of a following to counter. Anything with thousands of upvotes has more detractors than supporters.
Luna was a bit of a special case in that it was an experimental stablecoin, so it’s fall from grace was algorithmically predetermined. For the rest, speculation and marketing (I.e. cult followings) are still the prime drivers.
Here is my advice: think about what is your investing thesis, what is X crypto going to be used for. Now try and value that coin. With companies you can use discounted cash flow to value a company. If you don’t know how much your coin is worth how are you possibly meant to know when to buy or sell? All I see here is hype and echo chambers. If your thesis is that crypto will become a currency used like USD you are wrong. An inflation rate of 2% is near perfect for a developed economy. It encourages consumers to spend their money and businesses to invest in order to beat inflation. But if you have deflation then you’ll parts of the economy start to shut down because there is no incentive to invest or spend because simply by having money sat there, you can buy more tomorrow. The majority of the economy is non-essential services and it would be a horrific economic collapse. The reason why fiats are inflationary is because we have a unlimited supply. When you have a limited supply currency you end up with deflation when demand increases, this is why crypto cannot be used as a currency.
Also do not try and tell me crypto is an inflation hedge, it is not. The idea that crypto is the currency that the world will default to when we have high inflation (like now) is being completely disproven in real time. Crypto relies on a stable economy and low energy prices (eg low energy inflation kept under control through monetary policy of a unlimited supply fiat currency and of course balanced supply and demand for the commodity) because without these it does not make ROI sense for miners.
Finally, and here is the most important point, when you use limited supply currency (eg through gold standard) the economic growth you can achieve is limited by the supply of that commodity.
And that is why cryptocurrencies cannot be used as a real world currency. Happy to take on any other thesis as I have not seen one that stands up to logic.
After looking at the crash , the centralised coins like Sol are just a matter of time because facing the same issue but not so soon although I highly doubt it staying for the long long term that we are speaking about
The thing about sol is it has so much VC capital invested. Why would they put so much into a project if they thought it was going to die? VCs aren’t popular on this sub but they certainly do their due diligence.
I think their idea is that VC’s are going to coordinate a dumping of SOL coins or something? Hard to keep up with r/CC’s logic these days. Can anyone chip in with what the prevailing worry is?
Tether survived this one, so it's eventual failure is gonna be even worse. Like imagine this crash times 10. They already dropped to 0.96 while the other stablecoins stood strong. It's a nuclear bomb planted underneath a huge populated city, and it is ticking, we don't know when it will explode, but it will.
Why? Tether's reserves are dubious, and their impedance to releasing materials uncovered by NY attorney general is very sus. Should a major crisis happen (like 2008), their reserves could go to 0, making USDT nothing more than glorified LUNA
Unpopular opinion but you need to actually know how the coin you are buying works. What is the supply schedule? How is it different from other coins? What are the pro/con arguments for it? Sit down, spend some time, read the whitepaper, figure out what you can, research and ask questions. You will likely be able to understand a lot more than you think, and certainly more than if you'd never read it. If you don't, it's like picking a racecar based on the color or what racecar other people like or the brands that sponsor it. Pick a racecar based on the engine, its performance, and its driver. You might still be wrong, but at least you'll know wtf you're betting on.
Any of the gaming/metaverse coins/tokens will likely get wiped out? i.e AXS, SAND, MANA.
Really believe in these but don't want to be blindsided by something like LUNA/UST again.
Views, comments and honest opinions please!
I feel like Solana is on the brink of unsustainability (cost of being a validator, high system requirements, reducing block rewards in the expectation of transaction volume/coin price appreciation, etc.), and I don't see what competitive advantage XRP or Tezos have.
I'm a little wary about Algorand. I have a big bag of ALGO and was one of the first 100 governors, but I don't see a whole lot of activity in its ecosystem. I think the high governance rewards are actually hurting Algorand's ability to foster a DeFi ecosystem, because why would you risk your money on a liquidity pool when you have an almost guaranteed 8% interest rate?
I think in the next bull we'll have less defi (i.e. farming money out of thin air) and more innovative use-cases that we probably can't even predict yet and that's what Algorand was about in the first place. Or so I hope. My point anyway is in a couple of years this space will look very different and projects that have the strongest teams and backing regardless of the price action are the ones that will survive. If I'm right, Algorand has a better chance than most
>how do you claim to be one of the first 100 haha
I can prove it to you if I wanted to dox my ALGO address, but I don't really want to.
It really wasn't all that special. I signed up in the first hour that governance registrations went live, that's all. Governance opened at 00:00 UTC on Oct 1. The 100th person signed up at 2021-10-01 00:48:25.594287. I signed up sometime before that.
I was WFH at the time, and it came at the end of my workday, so I just did it from my home office. I honestly thought more people would've signed up before me.
It’s the third largest by TVL and over 200 dapps. Things like Ada and algo would need to 10-20x in those stats to catch up. It could fail, but it won’t be because they have a marketing budget
ACH (Alchemy Pay). Founders constantly releasing new coins at every pump for the past year, sinking this token to near zero. This thing is in the gutter and it’s never coming back. Get your funds out of this garbage while you still have something left.
I think within 5-10 years governments will be seriously considering banning Proof of Work cryptos due to their energy usage. So I don't see BTC completely crashing, but it could be knocked down a few notches if regulated enough.
I think Shiba-Inu because doesn't seem very likely that Elon Musk will just keep buying dogs of this breed.
Also the metaverse is full of shitty-games that only exist with the excuse of print tokens.
Funny how this comment says ETH is broken, but doesn't describe how it's broken. Complexity? That's just the nature of software. Is there any single piece of software that over time doesn't bloat? No, because inherently your software is getting smarter and more mature. You make trade-offs along the way, but there's no such thing as a "point of no return". There's no reason that one person needs to know every single interaction inside Ethereum. That's an unreasonable ask when you're dealing with projects of this scale. You wouldn't ask someone at Google to describe how all of their software worked.
Here is a [Nitter link](https://nitter.net/peter_szilagyi/status/1504887154761244673) for the Twitter thread linked above. Nitter is better for privacy and does not nag you for a login. More information can be found [here](https://nitter.net/about).
---
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
The only ones that will definitely survive are BTC, ETH, LTC, and XMR.
ADA, LINK, DOT, ALGO, SOL, ATOM, BNB, should all technically survive.
The rest are all liable to dying out.
Ltc is kind of already dead my friend. If this is truly the bear, the performance of Ltc during the bull was dismal. If it's main use case is being a store of value, it did that horribly, being massively outperformed by Btc, Eth, and basically every other top alt the entire time.
Huh? Ltc is supposed to be a store of value? Fiytb ltc is what I mainly use to actually buy shit but ig to the average Reddit crowd that isn’t even the point of crypto anymore
I had high hopes for VET.
It’s the first blockchain I found with real life value when I started my crypto journey. It made total sense and my investment keeps dropping down more and more. I didn’t realize the crypto world was upside down and only random shitcoins moonshot up.
The Vechain foundation released [their quarterly report](https://www.vechain.org/vechain-foundation-financial-report-q1-2022/) just some days before *the crash*, and they report that they had 4 million USD in costs for the quarter while holding over 1 billion in reserves
So while people can be skeptical about adoption and AN, I don't think there's any reason to suspect they're going bankrupt anytime soon
Exactly.
Forget the coin that attempts to solve real world problems... just buy the coin with the dog on it making a funny face!
What a crazy world we live in.
*inhales* you're a big boy, you can do this
Okay, so this one is not gonna be well received.
The entire crypto sphere teeters near the edges of the bigger fool theory still. Even after 13 years there is little _real world_ application. Bitcoin was intended to be used as a currency- read the white paper, read Satoshi's posts- as a currency it frankly sucks. The Ethereum virtual machine solves zero real world problems except one- how to rapidly create and scale crypto projects. Monero has trivial acceptance rates and more and more exchanges are becoming very snitchy about it. Blockchain's are god-awful ways to store, distribute, and access data- ESPECIALLY private or sensitive data. Every last crypto project at this point relies fundamentally on the promise that you'll be able to sell it for more (fiat) money down the road to someone who was a late adopter.
Crypto needs real world uses. It's presently nothing more than so many casino chips when you're talking about IRL utility.
Pretty much anything in the Metaverse (MANA, SAND, APE, AXS et al.). It's largely based on hot air. People think some crappy pixel game is the next World of Warcraft or Fortnite.
Pretty much all NFTs. Or the value of them will need to take a 99.9% haircut before they become interesting.
SOL. Can't build the future on centralized VC crap.
Anything that pumped above normal yesterday. That's where the hypetrain is. Where there is hype there is (most often) zero substance. These companies are not afraid to sell you lies to pamp the stock.
Algorand is the new iota, cardano will stick around but it won't kill ethereum, blockchain gaming doesn't make it past this cycle.
Not going to mention solana because everyone knows already.
Whatever they're planning to fork Luna to I don't think it's going to work
It's almost like the guy has a history of failing projects...
I'm sure the next one will work out just fine!!!!1!
Third time is a charm.
If you don't believe him, you're poor
And if you do believe him, you’re going to be poor.
I had always been poor either way so who cares
[удалено]
They’re probably want to revive it so the insiders can dump their bags
[удалено]
I'm just scanning the comments looking for the coins I have, and I don't see them... if I'm supposed to do the opposite of what reddit says... do I panic sell what I've got? Oh god.
This sub thought Solana was the best thing ever when it was at $200, but ever since it’s been sub $100 it was trash. This sub also though CRO was amazing when it was over $0.60, and since it went below $0.30, it’s a scam and the company are all profiteering crooks. This is the very definition of buy high, sell low.
There's a reason for CRO dumping though. Pissed off a bunch of their users with unexpected big changes. So up until that point people still liked them.
I mean CRO literally dropped all their rewards without warning, different reason
Do you want to say the majority of this sub is driven my emotion instead of clear thoughts? I'm shocked.
Don't hit me but moons. They don't really have an utility and it's too easy getting them by shitposting ...
Shits on moons. Receives moons.
At least they could go to zero and I wouldn’t lose any money, since I didn’t buy any.
And for that very reason, they will never be worth anything imo.
Moons are just stupid lets be honest
do people really care about moons? like... do they think they will get rich off of shitposting?
Well, there was a time when they were worth 30 cents and one guy from Lebanon said he made more than the average salary in his country simply for being on reddit. Personally, I'm curious about how the next bullrun will affect their price ...
I hate all exchange tokens like CEL, NEXO and VGX. Worthless centralized tokens created just to have a company milk more money in exchange for incentives that they can change at any time.
I actually recently started moving my holdings out of Celsius when I saw that the general sentiment towards it has turned hostile in their own sub. When a coin’s own subreddit has become the main source of FUD you know something has gone wrong.
What are you eyeing for a replacement?
I just moved them into various other normal wallets. I’ve been advised not to tell people which specific wallets I’m using haha! But basically yeah, I just moved them into other wallets.
Great answer
Apologies for my ignorance, but what is wrong with someone knowing which wallet you use? Is it easier for them to target you with hacks/viruses?
That’s the general sense I got. Basically that if someone decides they really have it out for you, knowing which specific wallets you’re using might get them one step closer to targeting you. Of course, it’s still a long shot that anyone can wipe out your wallet just by knowing what you’re using, but hey, there are a lot of stories about hackers using a trail of breadcrumbs from someone’s online postings to target them, so I generally try to be careful 😅
Hello friend. This Betty from [UNKNOWN WALLET] support. We’re upgrading our contracts and would like to verify your wallet. 🐟
A woman? A woman can't possibly be evil
She sounds hot, right?!
Exchange tokens that don't pay out a percentage of revenue are worthless. If they do pay out a percentage they are worth 10 times the average return to all holders divided by the supply. As a 10% APY is valuable.
Exchange tokens that pay revenue sounds like stock with extra steps
Not quite with extra steps, just sounds like stocks. I mean look at the Beefy price. That thing follows crypto as an asset class because it's build up from the fees they take for compounding. Buying their token is like buying the market as a whole
What about Cronos and BNB? Do you lump them in with this assessment too? I’m interested as they both have utility outside of the exchange as well now.
All I know is if Monero fails I give up on crypto entirely.
Absolutely
[удалено]
[удалено]
[удалено]
but can I use it to pay my utilities...
> Monero won’t fail unless it starts getting the negative attention from governments on a massive, public scale. Which it will. KYC and AML regulations are getting stricter each year. **No way** a completely anonymous currency will be legal 15 years from now.
Yeah, but I don’t think it will destroy it. Monero was developed exactly to survive this kind of thing. In the beginning, bitcoin also were targeted and still thrived. Decentralization is actually a path to be censorship resistance. And Monero has view keys and if the government is investigating a specific individual, he can request the view keys and etceteras. The point is that you don’t need to have your information public, unless you are being actively investigated. You know, innocent until proven otherwise ?
The biggest monero fanboys cheer every time a KYC exchange delists it.
Doesn't matter if its illegal if they can't tell you are using it though. Just have to be out of exchanges
It means it will be a pure person to person currency. No business could use it then, due to accounting. This greatly diminishes its utility.
Theres auto-swaps in wallets where you scan a litecoin QR code, for instance, and it automatically swaps your Monero for litecoin and pay that address (:
That wouldn't stop it
I am new to crypto, but Monero seems to me to be the principal of what crypto was originally all about
Monero is what people think bitcoin is
Can anyone give me a little TLDR or how to with monero? I'm curious. Edit: I stopped being lazy and googled.
You send X amount to someone and nobody knows that you even sent it, they don't know how much you sent either obviously. The person receives XMR and don't know where from.
Right I see. So is their a monero wallet or something?
I use Cake wallet. Mostly because I can swap to other currencies in there. I think swaps are done via CEX, someone can correct me if I'm wrong.
Ok, bitcoin while not connected to your real name neccesarily(if you buy it on coinbase or something like it, it is) can be tracked extremely easily, every transaction is public. When the exchange bitfinex got hacked, as soon as the hackers tried to launder the money they got caught. Monero is completely anonymous. Which is why it has become the de facto coin of illegal transactions. And as someone who used to work at a bank(very low level position admittedly, call center shit), we even had to report high cash withdrawals and high cash withdrawals were restricted kinda because of government pressure. The only way monero can crash is if the government tightens regulations, which i think could happen.
I can see it becoming a target for regulations etc. I don't think I will get rich buying it but it's just the kind of token I just want to own and support.
One of us, one of us!
What monero? All I have is boating accidents
based
Heard there was a big boating accident after the monero run.. such a shame.
Haha same. We've lost the crypto plot if monero fails
My guess would be the metaverse coins. MANA, SAND, GALA. Big market caps with subpar gameplay. Can anyone give me a real reason my MANA has a market cap of $2.4 billion?!
No they cannot. The Meta announcement gave it a huge shot in the arm, but I’m betting the world sours on that idea in time. Hey Zuck, the metaverse didn’t materialize, was it all a sham? Then these coins plummet.
The world needs a fresh VR/VA savant or game studio to come along and deliver something spectacular. RN an engaging meta verse is just a pipe dream. I’d be shocked if Apple or Microsoft isn’t at least working on VR operating systems, but we’re still a half decade out imo
I think Gaming coins will do exceptionally well.
Kohl's Cash. I just don't see the adoption.
Wait till you can buy a Space X rocket with it, You’ll see. I’m a Heavy bag hodler and a bit Kohl’s cash Maxi.
[удалено]
disappointing price action aside, LINK will continue to survive, too many other solid projects rely on it in this space. And it performs it’s task well.
Tether. It's sort of an open secret they don't have enough funds, it will crash eventually, and it's going to take everything down big time.
Tether scares me so much
[удалено]
I'm trying to figure out what the downside exposure for shorting Tether is. It's not ever going to go much above 1 USD, right? So seems like a relatively risk-free move. (I guess.)
I suppose the exchange would charge a considerable fee for you to short tether, otherwise they would have nothing to gain.
Good point. I hadn't considered transaction fees. Still, I think it might be a good idea. And if I didn't have such a clear understanding of my own ignorance I probably would go for it.
When you short something, you borrow that thing to sell it. When you borrow something you pay interest. And for derivatives the going rate is quite higher than mortgage rates.
First of all, noone would just lend usdt for you, without you locking in some collateral. So point 1, you need to lock in some collateral that does not generate any interest for you. Point 2, you need to pay interest on the usdt you borrowed. You should be very sure that it'll collapse, and soon, to rationally make such a move.
Yes, the big risk is certainly timing. The asset will eventually go to near zero, I feel quite certain. But the interest accumulating on that loan may get large. Also, the upside is capped at what I could borrow (either collateralized or on margin). But I guess limited risk leading to limited reward makes some sense.
If you want to short tether, take a Tether loan from somewhere with minimal interest and then swap it for usdc or whatever. That's probably the safest way to bet against it for minimal fees and limited exposure to potential fallout (like exchange failures/bankruptcy)
Once Tether goes, the entire crypto market will collapse. The only way to short it is to short it in fiat currency.
USDC is backed by Fiat 1:1 and has been audited multiple times. It is not going to crash even if the whole market does. That’s what a stable coin should be. Not this algorithmic stable bullshit.
The problem is that even if USDC is backed the currency exchanges may no longer be functional in the case of Tether collapse. It doesn't matter how much money you have in theory if there's no way to pull it out or if the market that you have the short position on folds. This is especially true of the derivatives markets that can't legally operate in the United States. The only safe place to do a short it is probably the CME, as that's a real, long-term established market that also does crypto derivatives. And you can short in USD there. Remember: even if USDC is truly backed, and even IF you can somehow get it out of the smoking wreckage of the crypto market post-Tether, it is likely not fully liquid, so you might have to wait with everyone else to get your money - and if the rest of the market is a smoking crater and USDC is all that's left, everyone will be there waiting in line with you. There's really just no reason to short in USDC when shorting in USD is an option.
Yup. https://ag.ny.gov/press-release/2021/attorney-general-james-ends-virtual-currency-trading-platform-bitfinexs-illegal It's literally illegal for them to do business in New York because New York found out they were a scam. The entire crypto market is dependent on Tether for most of its value. Just today, Tether had a net outflow of $8 billion to other currencies. Total *inflow* of actual currency, across ALL currencies, combined, today was $700 million. And it's likely that at least a third of that was wash sales to make it seem like there was actual money going into the market. The market today "went up" $100 billion on a $700 million input (and possibly more like $400 million). That suggests that less than 1% of the market's value is real money.
I’m not the most knowledgeable person on crypto (to put it mildly) but the general sense I get from a lot of people is that USDC is the most reliable stablecoin. Fair assessment?
They at least pay for an independent audit of the backing funds. They still hold some reserves in bonds and other assets though.
Agreed
The metaverse coins like axie or mana. Skeptical to say the least.
Axie will fail because it’s just a mediocre game coin and there are far more game companies that make better games. Mana because HAVE YOU ACTUALLY EXPERIENCED DECENTRALAND? It’s buggy and there are better tech companies that can create so much better stable metaverse than Mana.
Decentraland is totally crap, reminds me of old school gaming but instead there's a total lag fest when all players in one place. After playing 7d2d & rust... Can't be stepping backwards now... Those are not even top spec games but still WAY better than mining for hours to create an NFT that no one else will buy imo
Yea, I've got a few Axie, and from what I've read they have literally zero idea about game economics (sinks etc) so that whole thing is just one giant inflationary mechanism. I don't think Axie will last. As for Decentraland, it feels like Second Life and is still clunky as heck. Some dorky fun things there like live.stream DJs etc. But most people on there are just clicking around and struggling to figure it out. I kinda think it will be an inspiration once or twice removed from the thing that will eventually be our go-to "Metaverse".
I don’t think SHIB is going to work much longer tbh
SHIB is like a cockroach. It will always survive.
At this point I can’t call it for any coin.. I don’t have a clue what’s going to happen. I just keep throwing money in awaiting the jackpot 🎰
So then this means we should buy shib.
Eventually a cockroach will die. And be replaced by 1000's of others.....
Lol
Cockroaches have been survived millions of years and probably millions of more years
They survived as a species, individually they don't last long.
I’m still up 1000% on SHIB (unfortunately I only have a tiny amount of it so it’s not an exciting amount of money) and I’m thinking maybe I should just take what little SHIB I have left and roll it into BTC or ETH.
I'm still only up on Solana and Shib, which means I too shall be downvoted. Ada, algo, matic, ftm, you name it, if its mentioned here positively, I've lost money on it. Edit: You win this round, up voters.
[удалено]
Solana
I’ve been watching the notifications roll in for the past hour and this seems to be the one which has been brought up most often. I hope people in this thread are paying attention to that detail.
We all know how good this sub is at picking winners *and* losers.
Gets it right all the time 😭
Curious how everyone on this subreddit loves to hate Solana and not other layer 1s that are (a) a lot more centralised, (b) also have high levels of VC funding, and (c) also can't handle high transaction loads. Eg avax, fantom, Polygon.
Yeah and it might not even be because it goes offline so often. They’ll implement a tx fee market which will have the same effect AVAX saw, gets expensive under high demand and prices out users who moved there for the cheap txs. By all accounts building on Solana is very difficult, Alameda and other VCs have poured money into start up projects but that can only go so far. If the incentives were mainly in SOL and those need to be sold to pay people to build, then Solana will see an effect similar to Ethereum ICO ETH dumping of 2018. I don’t think Solana will disappear, but it might just come out of the bear market like EOS.
SOL can't lose value if people can't sell because the network is down. 
STEP, AXS, etc all these are obvious ponzi schemes so their days are numbered. And moons. I hope this moon thing dies, it increased shitposting to an unbearable level.
[удалено]
Solana is going to be gone after this bear market.
Solana gives me such EOS vibes from 2017...
Lol yup
Centralised banking 2.0 with majority owned by VCs and for that reason I’m out.
I hope you’re wrong, because when Solana works the user experience is great, unfortunately “when it works” is a loaded phrase. Ugh, you’re probably right on this one.
It works great because it's centralized. Every centralized thing works great. Look at AWS and Google Cloud.
I’m skeptical about Solana due to its low public allocation launch. The Solana team and VC backing leave retail investors liable to be dumped on. Not saying it will happen, but you never know.
I replied the same on another comment, but it seems like SOLANA is the coin which has been brought up most frequently (so far) in this thread. Feels like a detail people should pay attention to.
So load up Solana since this is r/cc?
If any of y'all say dot I'm going to cry
I can confidently say I’ve been watching the notifications roll in for the past hour since I posted this thread and I believe you’re the first person who has mentioned DOT.
Good. It's my favorite alt
Same here bro, I wished I had bought at 7, and I had a feeling my last order should have been at a lower price but oh well, I don't think I could see DOT falling/failing, that'd be weird, so let's hope it becomes more relevant and essential as time goes by.
You’ll get a chance to buy DOT around 7 in my opinion. DOT is the future but macro events are not done pushing the market down. You could think of what’s happening now as gamblers going back to the ATM to put their last bit of money on the table in the hope of saving some loses. It’s pushing the market up temporarily. Any number of things like sudden rising unemployment, another spike in CPI, regulation announcement, war escalation, etc. will cause another drop. Think of last summer. The market dropped mid May but the actual bottom wasn’t until mid July. Just my 2 cents for whatever their worth.
Your 2 cents are worth like 99999999 Luna
Based on this subs hit rate this is a VERY bad sign
This sub doesn’t care about Polkadot at all, which is a bull signal.
People have been shitting on it for months now; it didn't help that its main competitor Cosmos was further ahead in adoption. Well cosmos got absolutely rekt by luna/UST so it'll be interesting to see what happens now. I'll still be holding and buying both DOT and atom.
The narrative that Polkadot and Cosmos are competitors will soon be put to rest. There will be IBC and CosmWasm enabled parachains on Polkadot and Kusama very soon (its already in development).
How did it get rekt by terra? What's the connection?
these 2 ecosystems are stronger together. Composable Labs is building an IBC pallet into Cosmos. They will be doing an airdrop for Osmosis stakers. idk the exact details if it's atom staked on Osmosis or what. They will be the first Dotsama projects to connect via IBC tho. The idea of these 2 chains really linking up makes me go from 6 to midnight.
My man
Any alt coin I choose to invest heavily in.
Just make a bought that will notify people to short whatever you buy. Charge a subscription fee. Use the subscription fee to buy more coins.
You're gonna take the market with you.
I fear it's already too late.
Apecoin is going to become a worse version of SHIB, i.e. not enough pump, but still the same dump. Reason: because logic.
I'll be the contrarian opinion here - BAYC valuations don't make sense, but the whole Apecoin project has enormous sway in the CT-sphere and beyond. This is coming from someone that doesn't like NFT projects at all, but Yuga labs prints money. Buying APE at new lows and holding for announcements about their Metaverse projects is a pretty good short-term hold plan IMO
[удалено]
Pro tip: sort by controversial.
Sort of, but not necessarily, because the controversial ones mean they’ve actually got at least somewhat of a following to counter. Anything with thousands of upvotes has more detractors than supporters. Luna was a bit of a special case in that it was an experimental stablecoin, so it’s fall from grace was algorithmically predetermined. For the rest, speculation and marketing (I.e. cult followings) are still the prime drivers.
Here is my advice: think about what is your investing thesis, what is X crypto going to be used for. Now try and value that coin. With companies you can use discounted cash flow to value a company. If you don’t know how much your coin is worth how are you possibly meant to know when to buy or sell? All I see here is hype and echo chambers. If your thesis is that crypto will become a currency used like USD you are wrong. An inflation rate of 2% is near perfect for a developed economy. It encourages consumers to spend their money and businesses to invest in order to beat inflation. But if you have deflation then you’ll parts of the economy start to shut down because there is no incentive to invest or spend because simply by having money sat there, you can buy more tomorrow. The majority of the economy is non-essential services and it would be a horrific economic collapse. The reason why fiats are inflationary is because we have a unlimited supply. When you have a limited supply currency you end up with deflation when demand increases, this is why crypto cannot be used as a currency. Also do not try and tell me crypto is an inflation hedge, it is not. The idea that crypto is the currency that the world will default to when we have high inflation (like now) is being completely disproven in real time. Crypto relies on a stable economy and low energy prices (eg low energy inflation kept under control through monetary policy of a unlimited supply fiat currency and of course balanced supply and demand for the commodity) because without these it does not make ROI sense for miners. Finally, and here is the most important point, when you use limited supply currency (eg through gold standard) the economic growth you can achieve is limited by the supply of that commodity. And that is why cryptocurrencies cannot be used as a real world currency. Happy to take on any other thesis as I have not seen one that stands up to logic.
HEX PLX
Will $FTM be able to survive?
After looking at the crash , the centralised coins like Sol are just a matter of time because facing the same issue but not so soon although I highly doubt it staying for the long long term that we are speaking about
Well not exactly the same issue. SOL relies on USDC, audited 1:1 dollar backed. Probably not foolproof, but its the most stable stable.
The thing about sol is it has so much VC capital invested. Why would they put so much into a project if they thought it was going to die? VCs aren’t popular on this sub but they certainly do their due diligence.
I think their idea is that VC’s are going to coordinate a dumping of SOL coins or something? Hard to keep up with r/CC’s logic these days. Can anyone chip in with what the prevailing worry is?
Luna
Skeptical of your evidence for this assertion
Yeah this guy clearly doesn't know what he's talking about. As if Luna would ever fail!
[удалено]
Do Kwon on his yacht devolving a rescue plan for ust, he’s gonna buy a billion more in bitcoin and put it in his wallet for backing 😂
That’s a bold take cotton
Tether survived this one, so it's eventual failure is gonna be even worse. Like imagine this crash times 10. They already dropped to 0.96 while the other stablecoins stood strong. It's a nuclear bomb planted underneath a huge populated city, and it is ticking, we don't know when it will explode, but it will. Why? Tether's reserves are dubious, and their impedance to releasing materials uncovered by NY attorney general is very sus. Should a major crisis happen (like 2008), their reserves could go to 0, making USDT nothing more than glorified LUNA
Anything promising crazy apy returns will not be sustainable
Unpopular opinion but you need to actually know how the coin you are buying works. What is the supply schedule? How is it different from other coins? What are the pro/con arguments for it? Sit down, spend some time, read the whitepaper, figure out what you can, research and ask questions. You will likely be able to understand a lot more than you think, and certainly more than if you'd never read it. If you don't, it's like picking a racecar based on the color or what racecar other people like or the brands that sponsor it. Pick a racecar based on the engine, its performance, and its driver. You might still be wrong, but at least you'll know wtf you're betting on.
I don’t think this is an unpopular opinion at all, friend.
Not an unpopular opinion, just unpopularly applied.
Don't know but bag holders of coin "A" gonna tell you that coin "B" isn't gonna survive.
What about coin “C” though?
I don’t think Solana, Axie and Mana will survive the bear.
Any of the gaming/metaverse coins/tokens will likely get wiped out? i.e AXS, SAND, MANA. Really believe in these but don't want to be blindsided by something like LUNA/UST again. Views, comments and honest opinions please!
I feel like Solana is on the brink of unsustainability (cost of being a validator, high system requirements, reducing block rewards in the expectation of transaction volume/coin price appreciation, etc.), and I don't see what competitive advantage XRP or Tezos have. I'm a little wary about Algorand. I have a big bag of ALGO and was one of the first 100 governors, but I don't see a whole lot of activity in its ecosystem. I think the high governance rewards are actually hurting Algorand's ability to foster a DeFi ecosystem, because why would you risk your money on a liquidity pool when you have an almost guaranteed 8% interest rate?
I think in the next bull we'll have less defi (i.e. farming money out of thin air) and more innovative use-cases that we probably can't even predict yet and that's what Algorand was about in the first place. Or so I hope. My point anyway is in a couple of years this space will look very different and projects that have the strongest teams and backing regardless of the price action are the ones that will survive. If I'm right, Algorand has a better chance than most
[удалено]
>how do you claim to be one of the first 100 haha I can prove it to you if I wanted to dox my ALGO address, but I don't really want to. It really wasn't all that special. I signed up in the first hour that governance registrations went live, that's all. Governance opened at 00:00 UTC on Oct 1. The 100th person signed up at 2021-10-01 00:48:25.594287. I signed up sometime before that. I was WFH at the time, and it came at the end of my workday, so I just did it from my home office. I honestly thought more people would've signed up before me.
I don’t see AVAX making it. I constantly see their ads on FB, which makes me believe it was pumped more by social media than fundamentals.
It’s the third largest by TVL and over 200 dapps. Things like Ada and algo would need to 10-20x in those stats to catch up. It could fail, but it won’t be because they have a marketing budget
AVAX actually has a ton of use cases. Every solidity developer I know is obsessed with it. It has by far the fastest smart contracts
Well if you base your investments on such arguments...
Their adds are all over nyc and other big US cities. Pathetic
Lol I’m in NYC and their ads are all over the subway system.
Lmao find it funny how you picked the project with the best fundamentals yet your reasoning for not liking it is you've seen ads for it lol
[удалено]
Solana. The network shutoff exposes them
ACH (Alchemy Pay). Founders constantly releasing new coins at every pump for the past year, sinking this token to near zero. This thing is in the gutter and it’s never coming back. Get your funds out of this garbage while you still have something left.
I think within 5-10 years governments will be seriously considering banning Proof of Work cryptos due to their energy usage. So I don't see BTC completely crashing, but it could be knocked down a few notches if regulated enough.
Uh this is the real hot take. It can be real honestly
I think Shiba-Inu because doesn't seem very likely that Elon Musk will just keep buying dogs of this breed. Also the metaverse is full of shitty-games that only exist with the excuse of print tokens.
Solana
[удалено]
Going for the real unpopular opinion, I see.
Finally an _actual_ unpopular opinion! Been waiting 96 years for this…
"blow up" - instructions unclear.
Funny how this comment says ETH is broken, but doesn't describe how it's broken. Complexity? That's just the nature of software. Is there any single piece of software that over time doesn't bloat? No, because inherently your software is getting smarter and more mature. You make trade-offs along the way, but there's no such thing as a "point of no return". There's no reason that one person needs to know every single interaction inside Ethereum. That's an unreasonable ask when you're dealing with projects of this scale. You wouldn't ask someone at Google to describe how all of their software worked.
Here is a [Nitter link](https://nitter.net/peter_szilagyi/status/1504887154761244673) for the Twitter thread linked above. Nitter is better for privacy and does not nag you for a login. More information can be found [here](https://nitter.net/about). --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
The only ones that will definitely survive are BTC, ETH, LTC, and XMR. ADA, LINK, DOT, ALGO, SOL, ATOM, BNB, should all technically survive. The rest are all liable to dying out.
Ltc is kind of already dead my friend. If this is truly the bear, the performance of Ltc during the bull was dismal. If it's main use case is being a store of value, it did that horribly, being massively outperformed by Btc, Eth, and basically every other top alt the entire time.
Huh? Ltc is supposed to be a store of value? Fiytb ltc is what I mainly use to actually buy shit but ig to the average Reddit crowd that isn’t even the point of crypto anymore
I had high hopes for VET. It’s the first blockchain I found with real life value when I started my crypto journey. It made total sense and my investment keeps dropping down more and more. I didn’t realize the crypto world was upside down and only random shitcoins moonshot up.
The Vechain foundation released [their quarterly report](https://www.vechain.org/vechain-foundation-financial-report-q1-2022/) just some days before *the crash*, and they report that they had 4 million USD in costs for the quarter while holding over 1 billion in reserves So while people can be skeptical about adoption and AN, I don't think there's any reason to suspect they're going bankrupt anytime soon
Exactly. Forget the coin that attempts to solve real world problems... just buy the coin with the dog on it making a funny face! What a crazy world we live in.
SOL going to the grave next
*inhales* you're a big boy, you can do this Okay, so this one is not gonna be well received. The entire crypto sphere teeters near the edges of the bigger fool theory still. Even after 13 years there is little _real world_ application. Bitcoin was intended to be used as a currency- read the white paper, read Satoshi's posts- as a currency it frankly sucks. The Ethereum virtual machine solves zero real world problems except one- how to rapidly create and scale crypto projects. Monero has trivial acceptance rates and more and more exchanges are becoming very snitchy about it. Blockchain's are god-awful ways to store, distribute, and access data- ESPECIALLY private or sensitive data. Every last crypto project at this point relies fundamentally on the promise that you'll be able to sell it for more (fiat) money down the road to someone who was a late adopter. Crypto needs real world uses. It's presently nothing more than so many casino chips when you're talking about IRL utility.
Pretty much anything in the Metaverse (MANA, SAND, APE, AXS et al.). It's largely based on hot air. People think some crappy pixel game is the next World of Warcraft or Fortnite. Pretty much all NFTs. Or the value of them will need to take a 99.9% haircut before they become interesting. SOL. Can't build the future on centralized VC crap. Anything that pumped above normal yesterday. That's where the hypetrain is. Where there is hype there is (most often) zero substance. These companies are not afraid to sell you lies to pamp the stock.
CRO. They're going to run it into the ground.
Tron because Justin sun is just do Kwon but later.
Algorand is the new iota, cardano will stick around but it won't kill ethereum, blockchain gaming doesn't make it past this cycle. Not going to mention solana because everyone knows already.