Anyone following the Crypto Currency roller coaster the last few weeks


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disclaimer, I just started a bit of light mining myself, so I've been learning more about crypto.  Well a few weeks ago, the major cryptos went on stellar bull runs. Last few days...some have lost 1/2 or more of their value.

 

Wondering if anyone else is into it, have any thoughts?

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2 hours ago, thecampster said:

disclaimer, I just started a bit of light mining myself, so I've been learning more about crypto.  Well a few weeks ago, the major cryptos went on stellar bull runs. Last few days...some have lost 1/2 or more of their value.

 

Wondering if anyone else is into it, have any thoughts?

Got in 4/30/21. It's a volatile market that's apparently very sensitive to billionaire egomaniac tweets and blatant market manipulation. I'm a "hodlr" in legit use currency that I believe has a future (Cardano, XLM, and Matic among others) and not a day trader so the swings don't bother me as much. I still hold some Bitcoin and Ethereum which have both taken a beating, but I have way more altcoins in my portfolio. Unfortunately, Bitcoin sets the the tone for the rest of the market, so the alt coins go as Bitcoin goes. I'm in it for the long run, but it's still troubling to see people blatantly manipulate the market to gain control of it instead of letting it grow organically. 

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So I've been following, holding $SHIB (Shiba Inu Coin) for a few months now. Last night, their website " Shibaswap.com " posted a welcome page. Its not up yet, but it should receive a pretty big pump after the swap goes live. New utility will be added to include staking (earning $Bone tokens from holding).

 

If you haven't been following it, look up SHIB Informer on Twitter and catch up. Its a well organized project that about to reach its make or break point.

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Funny you mention $hib. I have a lot of money invested in $hib. I think they will take off, eventually. Not now, not next year, but in a few years. $hib is a great community and will continue to keep progressing. They just need to burn coins

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On 7/13/2021 at 12:55 AM, AHawks89 said:

Funny you mention $hib. I have a lot of money invested in $hib. I think they will take off, eventually. Not now, not next year, but in a few years. $hib is a great community and will continue to keep progressing. They just need to burn coins

The devs don't control the supply with SHIB. They won't burn coins. If individuals burn, they are destroying tokens which each have a value with SHIB. Its a self-defeating mechanism.  SHIB has a locked supply, meaning the only way to become more valuable is through demand for that supply. There is no DEV mechanism to lower supply (as currently constructed). The best way to look at it is through the lens of DOGE and Market Cap.

SHIB's market cap is fluctuating around $3 Billion right now.  DOGE is fluctuating between 25 and 40 billion. SHIB has that $40 billion market cap potential. So a 13x value increase without a burn is very reasonable.

The current crypto market is undervalued about 40% from its previous high and about 25% from its current happy place (based on investment percentage vs number of people in the crypto market as a whole). So a 25% increase over that $40 billion is possible making the real near possibility for SHIB as much as 16x. 

So lets say you currently have a $1000 valuation in SHIB. Its reasonable that with the right buttons pushed and no burn, you could increase that to as much as $16,000. Anything can happen but I'm looking at reasonable here.  

SHIB is now firmly established thanks to Shibaswap. Its value against DOGE has effectively doubled in the last month even though the value per shib has been mostly stagnant (within the same up/down range.). As DOGE, ETH have dropped in value, SHIB has stayed in the same low/high range for a good 7 weeks now.

It took me 5 days to figure out a good way to stake on Shibaswap (I'd been using centralized exchanges to hold my SHIB). Getting it over to Metamask and onto the swap without paying the enormous fees the first 5 days was a challenge. But the true way to make money with SHIB is through staking on the swap. If able to hold 100 million + tokens, the return (especially in first few weeks) are pretty crazy. But if you are holding, keeping your tokens on the swap and staked is the fastest way to grow it and get compounding returns down the road.

 

For those reading and wondering what we're talking about. Consider the penny and the dollar.  It takes 100 pennies to make 1 dollar. These are effectively tokens. They hold no more value than Crypto. The whole world banking system is based on what countries say their currency is worth to buy things. Crypto works the very same way. Its value vs the $ and its value vs other cryptos. Just as every country has a different number of bills in circulation, so does every crypto have a different number of tokens in circulation. Their market fluctuates just like global currency markets. As of today, 1 Shiba Inu is worth $0.0000072.  1 Doge is worth $0.21.  So $1 will buy 138,888.89 $SHIB and 4.76 $DOGE.  So a modest $100 investment in SHIB has you holding 13.8 million SHIB and 476 DOGE.  If SHIB's value goes up to $0.0001, that's a 15x increase in value. You're 13.8 million shib is actually sellable for $1380.00.

So for stability sake, the DEVs took the reserve supply out of their own hands. It resides on the contract and is not burnable. They have considered a mechanism where a small percentage is burnt with transactions on the swap but that is not implemented yet and would have no general large impact in a short time...only over a long time. The preferable way to increase the token price is through utility. As more vendors start accepting payments in SHIB coin, more people will hold it to use it as currency. Therefore increasing demand.

The good news is SHIB is stable. Many alt coins are not. As other people dump their alts, they will put some in safe investments and some wagered in volatile investments. Because SHIB has now moved to the stable category (and in record time I might add), it will be a steady climb in market cap now. Staking on the swap to earn returns is the best way to grow that investment and multiply growth.

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Posted (edited)

One more thing on SHIB. 2 things are coming. 1, a switch to digital currencies to bypass international currency transactions (necessary with a flattening of the world's economic landscape) and 2, government oversight which is going to enter the marketplace and put cryptos under the same regulations but on par with world currencies. 

World governments will be picking winners and losers here and only the stable currencies with utility will survive. SHIB is currently in that space. Once governments start to integrate these currencies, expect involvement and participation to skyrocket. I'm assuming a 3-5 year timetable for that to take root.

Anyone getting in to a currency like SHIB, I'd recommend just staking for 3-5 years and adding a little to your portfolio every year. Day trading is going to be risky business in Crypto going forward as a lot of the newer alt coins will fail due to government involvement.

Edited by thecampster
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Thanks for the in-depth details about SHIB. A few months ago is the first time I've ever invested into crypto. I did see shibaswap came out last week? I'll have to educate myself a bit more on how to utilize shibaswap. I bought a good amount of SHIB and just planned on holding for a few years. If you do not mind, I may have to DM you and ask for some advice in regards to moving it to a different wallet. 

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On 7/14/2021 at 9:13 AM, thecampster said:

One more thing on SHIB. 2 things are coming. 1, a switch to digital currencies to bypass international currency transactions (necessary with a flattening of the world's economic landscape) and 2, government oversight which is going to enter the marketplace and put cryptos under the same regulations but on par with world currencies. 

World governments will be picking winners and losers here and only the stable currencies with utility will survive. SHIB is currently in that space. Once governments start to integrate these currencies, expect involvement and participation to skyrocket. I'm assuming a 3-5 year timetable for that to take root.

Anyone getting in to a currency like SHIB, I'd recommend just staking for 3-5 years and adding a little to your portfolio every year. Day trading is going to be risky business in Crypto going forward as a lot of the newer alt coins will fail due to government involvement.

This is what made me invest in Stellar XLM. Lightning fast AND cheap international financial transactions through digital currency is a real world use that I think will be a reality before crypto gets used as actual everyday "money". Ripple XRP was my first choice for that until I saw they were caught up in some serious legal issues. But anything that facilitates fast, cheap, and secure transactions seems like a sure thing long term. I honestly feel like I screwed up by getting in back in late April/early May. I had no idea I was getting in during a huge pump. I also had no idea how much market manipulation goes on. I planned on holding long term anyway, but at this point, I have little choice but to hold until things recover. 

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