Bitcoin, Cryptocurrency, and the Future of Global Finance

[reecetn]

My HNT mining rig is supposed to finally get here around the 1st. It was trading at $6 when I bought the rig ($350) and now it's trading at $16.75. I'll probably hold 20% of what I mine and use the rest to exchange for other cryptos. Depending on how good I set up my configuration, I feel like I could be making anywhere from $10 to $25 a day.

WOW!!! Helium looks solid and is only 2 yrs old. Tons of potential!!!

IoT tech is very very promising.

 

[n_huffhines]

WOW!!! Helium looks solid and is only 2 yrs old. Tons of potential!!!

IoT tech is very very promising.

I think I might've been a CB guy before the internet and this tickles that part of my brain

 

[n_huffhines]

From my college econ buddy

Some reasons I'm bullish on DeFi (decentralized finance) relative to stocks and bonds:

Growth -

Decentralized exchange (DEX) volume increased 76x to $177 billion in Q1 2021, compared with $2.3 billion in Q1 2020.

Decentralized Finance (DeFi) total value locked increased 64x to 52 billion in Q1 2021, compared with $0.8 billion in Q1 2020.

Anti-fragility -

This tweet thread sums it up well:


DeFi experienced a major crash over the last few weeks. Some assets lost 70% of their value. Lots of leveraged positions were liquidated.

Yet not a single DeFi protocol went insolvent. Nobody left holding the baby. The system continues to function smoothly.

Undervalued -

With such insane growth, you'd expect really high valuations relative to earnings. Growth companies will generally have very high price earnings (P/E) ratios, while low growth companies have lower P/E. If I think a company will make a lot more money in the future, I'm willing to pay more compared to current earnings.

Tesla has a P/E ratio of 635, while Apple has a P/E of 28. This makes sense. Once you're as big as Apple, you can't expect earnings to grow exponentially.

With such incredible growth, you'd expect DeFi protocols to have very high P/E ratios. But instead, these protocols are being valued like low growth value stocks.

MakerDao, one of the biggest decentralized lending platforms, has a P/E of 21. And Maker isn't an outlier. Across the board, DeFi protocols are very cheap relative to earnings. Cheaper than low growth stocks.

 

[reecetn]

From my college econ buddy

Some reasons I'm bullish on DeFi (decentralized finance) relative to stocks and bonds:

Growth -

Decentralized exchange (DEX) volume increased 76x to $177 billion in Q1 2021, compared with $2.3 billion in Q1 2020.

Decentralized Finance (DeFi) total value locked increased 64x to 52 billion in Q1 2021, compared with $0.8 billion in Q1 2020.

Anti-fragility -

This tweet thread sums it up well:


DeFi experienced a major crash over the last few weeks. Some assets lost 70% of their value. Lots of leveraged positions were liquidated.

Yet not a single DeFi protocol went insolvent. Nobody left holding the baby. The system continues to function smoothly.

Undervalued -

With such insane growth, you'd expect really high valuations relative to earnings. Growth companies will generally have very high price earnings (P/E) ratios, while low growth companies have lower P/E. If I think a company will make a lot more money in the future, I'm willing to pay more compared to current earnings.

Tesla has a P/E ratio of 635, while Apple has a P/E of 28. This makes sense. Once you're as big as Apple, you can't expect earnings to grow exponentially.

With such incredible growth, you'd expect DeFi protocols to have very high P/E ratios. But instead, these protocols are being valued like low growth value stocks.

MakerDao, one of the biggest decentralized lending platforms, has a P/E of 21. And Maker isn't an outlier. Across the board, DeFi protocols are very cheap relative to earnings. Cheaper than low growth stocks.

Well Said!!!!!!

Patience is the name of the game. It is not an if, only a when.
In the mean time I just keep stacking my pennies next to their dollars.


Take a look at the APY on Defi lending.

Just link your trust wallet or link it to your hardware ledger.

 

[Franklin Pierce]

Massive Bitcoin Mine discovered in UK after Police Raid Suspected Cannabis farm

• The mine was stealing thousands of pounds worth of electricity from the mains supply, police said.

LONDON — An illegal bitcoin mine has been found by police in the U.K. who were looking for a cannabis farm.

The mine — located in an industrial unit on the outskirts of the English city of Birmingham — was stealing thousands of pounds worth of electricity from the mains supply, West Midlands Police said Thursday.


https://www.cnbc.com/2021/05/28/bitcoin-mine-discovered-by-uk-police-on-cannabis-farm-raid-.html

 

[SpaceCoastVol]

Or, they could just ban it.

How could they?

 

[n_huffhines]

Massive Bitcoin Mine discovered in UK after Police Raid Suspected Cannabis farm

• The mine was stealing thousands of pounds worth of electricity from the mains supply, police said.

LONDON — An illegal bitcoin mine has been found by police in the U.K. who were looking for a cannabis farm.

The mine — located in an industrial unit on the outskirts of the English city of Birmingham — was stealing thousands of pounds worth of electricity from the mains supply, West Midlands Police said Thursday.


https://www.cnbc.com/2021/05/28/bitcoin-mine-discovered-by-uk-police-on-cannabis-farm-raid-.html

Fkn Tommy Shelby

 

[reecetn]

Have you noticed the $BTC influencers are starting to sing the praises of Ripple. Imagine what will happen if there is a capitulation in that market!

 

[Weezy]

So are we using huge amounts of energy to mine this imaginary coin? Seems like a poor use of a valuable resource.

 

[BreatheUT]

NYSE president: Bitcoin not a threat to traditional investing

 

[reecetn]

XRP Current Technicals reveal:

Supports are @ $0.80 $0.75 and $0.65.

If it breaks below $0.80 there will be huge buy in opportunities at $0.75 and possibly $0.65

if it bounces of $0.80 then we are headed to one of these targets.

Targets: $1.26, $1.33, $1.75 & 2.30+

 

[Velo Vol]

How could they?

China bans financial, payment institutions from cryptocurrency business

 

[n_huffhines]

CNBC warming up to it

https://www.cnbc.com/2021/05/27/coins-like-ethereum-are-going-to-be-a-lot-higher-jim-bianco.html

 

[n_huffhines]

China bans financial, payment institutions from cryptocurrency business

This is why we don't need to worry so much about China. Probably a topic for another thread.

 

[reecetn]

This is why we don't need to worry so much about China. Probably a topic for another thread.

The news just sets narratives to lead retail investors down the wrong path. Just watch what the IMF, WEF and all the big boys are doing not what they say.

 

[Velo Vol]

Buy.

 

[n_huffhines]

Banks in India were deplatforming customers that connected their accounts to crypto exchanges. The Indian government just stepped in and told the banks to knock it off.

 

[allvol123]

Rough month for crypto.

 

[Caculator]

Rough month for crypto.

Buy the dips and hodl

 

[allvol123]

Buy the dips and hodl

So they say.

 

[reecetn]

So many good deals out there right now its making it hard to decide which one(s) to buy!!

 

[allvol123]

So many good deals out there right now its making it hard to decide which one(s) to buy!!

Everyone must be having that problem.

 

[lawgator1]

My brother is warning me of Sim Swap scams. But as I read about that, it's not a crypto thing. In a sim swap they can take over paypal or venmo.

Some of you tech savvy younguns might be able to explain that one to me.

 

[reecetn]

Everyone must be having that problem.

It is sad to see all the fear selling, but how else could we get excessive liquidity to drive these great prices. Everyone has to learn the hard way I guess. Patience is the path to greatness.

 

[allvol123]

It is sad to see all the fear selling, but how else could we get excessive liquidity to drive these great prices. Everyone has to learn the hard way I guess. Patience is the path to greatness.

We shall see.