Hi, I’ve noticed the bitcoin etf is on close only, does 212 have any plans to trade in crypto in the future?
I think they should as most other platforms seem to fall short of 212 in so many areas, the biggest and most Important area for me being the speed in which you can add funds to your account which 212 is clearly the fastest as I’ve read so many complaints on other platforms about this.
I think 212 would dominate the crypto market if they decided to take it on board, let’s be honest, crypto is here to stay.
My plans for crypto are to claim as much free crypto as possible and hold that for long term.
Bitcoin or variants in itself have seen a huge rise, but I’m still not 100% convinced it will become mainstream in its current form.
1). It’s networks use a lot of power so not that environmentally friendly.
2). Too many variants.
3). It’s touted as an alternative to cash, but can’t handle the same volume of transactions, by a factor in the thousands per second compared to traditional means.
I agree with you. Its hard to invest in something with no intrinsic value, although the intrinsic value of fiat money can also be debated, crypto like dodge is pure gambling.
I think bitcoin and ethereum are a little better, bitcoin because of its hard limit and company/institutional ownership, and ethereum because its one of the main underlying tech behind blockchain so owning a token to me seems a bit like owning a share in a company.
I also wonder how many people are going to develop gambling addictions.
I like the blockchain technology, having a public ledger would help prevent fraud, tax evasion and corruption, but as you say its transaction speeds and power consumption are a problem.
Whilst Bitcoin itself does use a lot of power. The “not that environmentally friendly” is a bit a FUD issue. The vast majority is from renewable sources 80% and in a lot of cases uses the excess power where it can’t be stored. Whilst Bitcoin will always be PoW, most alts have moved/moving to a proof of stake instead of mining.
Are you talking alts in general or Bitcoin cash/gold variants?
Whilst there’s thousands of coins/tokens there’s probably only a few hundred that have real life application. Most aren’t trying to be the next bitcoin. Only a handful are trying to be cash replacement like Monero or Nano. Plenty of blockchains are created for specific things be that video streaming, file storage, IOT, governance and gaming.
It’s only touted as cash by those that are usually no-coiners. It’s possibly one of the worst choices with expense fees, slow transfer, high volatility.
Bitcoin is a store of value, and thats ok. The same way you aren’t going to go into Sainsburys carrying a bar of Gold.
To me DOGE is no different than the Robinhood generation and WSBs with stocks. GME and pumping and dumping those OTC pennystocks.
It’s the toxic TikTok and youtube “COINNAME going to x100” videos that are a plague.
If you focus on the blockchains that are the DOT ADA SOL AVAX or oracles with LINK BAND or dex cex tokens like BNB UNI CAKE etc then its more like playing with the blue chip of stocks. Those all have purpose and will be there to shape the next century and beyond.
If you are holding Defi tokens then its a safe bet for the future as people move away from banks.
Those are the key one worth trillions. Think Pokemon Go and being able to trade, and Magic the Gathering in the same way people pay hundreds of thousands for a card.
I’m holding my ENJ tightly.
Plenty of other things like event tickets, insurance, domain names all NTF use cases.
Sports is another big area with ones like CHZ, from fans wanting to collect their favourite player as cards to being able to get exclusive access.
Literally anything where you need either limited or one-offs.
The total market cap of crypto is still only about 2.6T which sounds a lot until you realise thats only like one APPL.
Gold is about 10T, stocks about 90T
It’s only just getting started.
Whilst the bullmarket will probably end this year and complete its cycle, I don’t think the pullback will be the same this time now we have the institutions and big money involved.
I worry the longer i leave not getting involved with crypto in some way the more i’ll regret it in a few years time.
I actually owned and mined a few bitcoins for a few days when it first came out but couldn’t see the relevance of it at the time. Don’t event know what happened to it.
I want to buy some and hold for a few years but don’t know what.
@phildawson
I know you are on binance, me 2, I am happy so far with the service
Could you explain why it is near impossible to stake some decent coin? ADA and such I mean…
Everytime I go to the “earn” section there is no way to stake…
Is it first come first serve or what am I missing?
Relevant tweet this morning…
