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Crypto breakout………
Gazzleberry - Im still 50/50 as to whether we have one final crypto low before the road back to ATH. Watching very closely as there is a lot of money to be made in next couple of years IMO.
Just thought it worth remembering the words of our new Prime minister.
“ It’s my ambition to make the UK a global hub for cryptoasset technology, and the measures we’ve outlined today will help to ensure firms can invest, innovate and scale up in this country.”
https://www.gov.uk/government/news/government-sets-out-plan-to-make-uk-a-global-cryptoasset-technology-hub
This is probably the most succinct explanation of Crypto currency - thought it might be of interest to some here.
Peter Van Valkenburgh from Coin Center
https://www.youtube.com/watch?v=HzxKs-Jd0H4
£7m mcap here. Stupendously low. Great time to tuck some away and imo, an AMPE, Pendulum or Dynasty event will reset valuation here.
Gazzleberry - agreed - roll on regulation.
Duke - lol whilst I was typing you basically post the same sentiment - have you hacked me ?
Gazzleberry - I do agree your comments, but BLU does have a link to the general Crypto market. The sentiment around Pendulum was greater last year before the bear set in and any valuation of the PEN token will be far lower now than if it had launched then.
But this market will turn and (in my view) reach higher highs, but It wont fully turn without BTC. I see BTC as the poster boy of crypto, my weathervane of the whole ecosystem in general. 95 percent of the population do not understand crypto coins, Alts, Stablecoin etc so its BTC that I personally am monitoring to provide the signs of the inevitable recovery
Re ARB - I did extremely well out of ARB but remember having taken my profits watching it just keep going. The whole ARB story should be used as some kind of learning example of how mad things can get.
BTC (my general crypto,westhervane) looks under pressure tonight - if it doesn't hold could see 17 even 16.
I suggest you read the trading Update RNS of 28th September which gives a good recap on Satoshipay here is an extract:
“ In early 2020, SatoshiPay announced it was refocussing on B2B cross-border money transfer through blockchain with the launch of DTransfer. This was identified as a major global market opportunity which had scope for disruption through blockchain. Since switching focus, SatoshiPay has made solid progress in building DTransfer by signing up customers and building partnerships.
· While building DTransfer, it became clear that the blockchain infrastructure required to launch Dtransfer as a complete solution still needed refining. This encouraged SatoshiPay's management to seek out ways of providing and supporting this infrastructure, which led to the inception of Pendulum”
I would suggest that the big money will come from Dtransfer with Pendulum giving it first mover advantage in a very large marketplace as set out in a further extract:
“ If the Pendulum network can successfully connect De-Fi to the larger foreign exchange markets, building AMMs to introduce scalable liquidity pools for fiat currencies as well as creating yield earning opportunities for fiat token holders, then Pendulum should be well placed within the De-Fi space, a market which is currently estimated to be valued at $55billion in total value locked.
-- SatoshiPay has successfully incubated the Amber AMM Project for which it has secured 5 per cent of its future tokens. Amber is a novel AMM design for low-risk, single-sided liquidity provision, significantly lower slippage and fees compared to other AMM designs.
-- It is well placed to earn fees and accumulate tokens in existing and new De-Fi projects.
-- SatoshiPay owns 100 per cent of DTransfer which remains a highly attractive opportunity.”
A couple of years ago Meinhard Benn said that with less than 1% of its market Satoshipay could become a Unicorn. Let’s hope he is right!
Question from someone who does not really understand. How does pendulum (satoshipay) make money and when will a true valuation be put on the business
Lets also hope Amber AMM gets things right.
Uniswap Labs valued at $1.66 billion after $165 million Series B
https://www.theblock.co/post/176944/uniswap-labs-valued-at-1-66-billion-after-165-million-series-b?__s=mukkgz9gdgkmgk4vlljv&utm_source=drip&utm_medium=email&utm_campaign=Sweet%20and%20Steady%20Syrupy%20Goodness
In light of the upcoming Pendulum Parachain Auction and the subsequent launch set for early 2023 I have been looking at the crypto market as a whole to revue trends and attempt to put some viable guess as to where bottom is and when a turning point may come. I am of the view that bottom has roughly been hit, I could be completely wrong, but I have been seriously accumulating various crypto assets over the past 6-8 weeks accordingly, ready for the next bull run. Briefly here is why.
The basic gauge of the crypto market is Bitcoin, Various Altcoins have their own individual prospects but as a market wide measure Bitcoin (for me) is the test.
There have been 5 Crypto crashes.
2011 – Having reached $32 it fell within a few days to $0.01. This crash was largely due to the Mt Gox breach where 850,000 BTC was stolen.
2014 – It is important to remember that this is the beginning of crypto and it took a couple of years for BTC to recover but by 2013 BTC reached $100 and then surged to reach $1000 by the end of 2013 but then entered the second bear market falling to a bottom of $270 by the end of 2014, at which time it remained pretty static until Aug 2015 when the next bull run took it back to $1000 by the end of 2016 and by the end of 2017 BTC reached an all time high of $20,000.
2018 – Bear market no 3. BTC fell to $3200 by the end of 2018 (a 60% drop) but by early 2019 BTC rallied back to $10,000 and remained fairly static until a drop back to $5000 caused by the covid outbreak in early 2020. From that low point BTC made the big rally hitting around $63,000 by April 2021
Bear market no 4. BTC then experienced a kind of mini bear market falling back to around $29,000 in a 5/6 month period but it didn’t last long as by Nov 2021 BTC was knocking on the door of $70,000.
Bear market no 5 (now). The price started falling late 2021 and has continued falling to around $37,000 and started rallying again before the Terra collapse in May and has since fallen again to a low of around $18,000 and has now settled to roughly around the $19/20,000 mark in June/July 2022 where it has now been trading sideways for the last three months.
So roughly speaking
Bear market No1 – Duration 185 days and Reduction 40%
Bear Market No2 – Duration 415 days and Reduction 83%
Bear market No3 – Duration 365 days and reduction 84%
Bear Market no 4 – Duration 150 days and reduction 62%
The current bear market has now been around 330 days (started Dec 2012) and has a rough reduction of $70% from its all time high.
So for me we are bouncing along the bottom and time to accumulate and hopefully Pendulum can time its Parachain launch during the early stages of the turn next year. All IMO.
America’s Oldest Bank, BNY Mellon, Will Hold That Crypto Now
https://www.wsj.com/articles/americas-oldest-bank-bny-mellon-will-hold-that-crypto-now-11665460354?st=uupvgfxyqmmi5yf&reflink=article_copyURL_share
Bitcoin, Ethereum and Altcoins Are About To Outperform Most Major Asset Classes, According to Bloomberg Analysts
https://dailyhodl.com/2022/10/05/bitcoin-ethereum-and-altcoins-are-about-to-outperform-most-major-asset-classes-according-to-bloomberg-analysts/
ragnarr - This is a really good selling point for blockchain technology. Every single transaction can be traced and attributed to a source and a destination, making forensic level scrutiny immediately available to all. No more chasing antiquated data trails.
Further evidence of blockchain/crypto adoption
MEPs call for using blockchain to fight tax evasion and an end to crypto asset non-taxation.
https://www.europarl.europa.eu/news/en/press-room/20220930IPR41922/meps-call-for-using-blockchain-to-fight-tax-evasion-and-end-crypto-non-taxation
Gazzleberry - apologies if you already posted the document and I very much concur with your comments.
Muscles
Dyor lazy lazy
Gla
Actually there is some Crypto related news as text for was approved today in the Council of the EU for regulation of crypto assets - 380 pages of it so thats going to keep me busy for a while :-)
https://data.consilium.europa.eu/doc/document/ST-13198-2022-INIT/en/pdf
Muscles you're a twat.
Muscles
Of course my posts dont affect the price - did you think they would ?
You are a legend in your own back yard Muscles
Muscles - "absolute legend is me" you're getting bells and legs mixed up again
Ragnarr basically Muscles is saying that he will shut and and convert to a believer in BLU once the bod put out RNSs which will lift and sustain the mc. Am I right Muscles? In a way we are all disappointed at this sp and we will achieve nothing feasting on each other’s blood.