By John Miller
Monday the 8th of January 2017
So the lads at the gym were right about Ethereum after all, and all my negativity on ETH would appear to be misplaced – well shut my mouth.
In a display of sheer dominance, Ethereum not only managed to chase down the $20 BILLION-dollar gap between it and Ripple to grab second spot back, but at the height of its surge managed to build a $20 BILLION-dollar lead over XRP for the coveted Number Two cryptocurrency spot.
As of right now, the gap is a mere $15 BILLION or so, which as we have seen in Crypto terms is practically nothing. However the importance of being second and not third in Crypto world cannot be overstated – expect a slew of good headlines about how Ethereum is back, and probably how Ripple is falling apart, jej.
But what does it all mean? Well, for a start it means that I have to recalibrate my long term crypto positions. I has thought that Ripple had already won the war against Ethereum, but now I know that ETH has a future, I feel OK about trading it. If I take a wrong turn, I know I won’t have to panic sell.
What is the true value of Ethereum though? Kek I’m not sure because I only just started to look at it. An hour ago I was tepidly buying 73.98, but the ETH/BTC market is bananas right now, and I got back out at 75.90. I’m hoping to back in at 73.53 before I go to gym tonight so I can tell the lads I got some.
Get in there and grind some Coin out fags. Work that band.
Ripple is a less exciting prospect right now. A 20% dip will cause a lot of bad headlines. Even so, XRP/BTC is still pushing up towards 17, and mid-17s is probably a good place to start slowly divesting if you are presently a little overloaded with Ripple like I am.
Who knows what tomorrow will bring though. Every day is like a year in Cryptoworld.
My other long-term play is QTUM/BTC, which I like because of its huge network of 50K nodes in China, which makes it two and half times bigger than the Ethereum network and five time larger than Bitcoin in terms of nodes.
The Chinese government hate Bitcoin miners, but don’t seem to have a problem with Quantum using the Baofeng peer-to-peer network to process its decentralised ledgers.
I grabbed a bit of Quantum last night for what seemed good value at 36, but I needed the Coin to play ETH games today and got out at 37. I might grab some more tonight. Hopefully it will be closer to 30, lulz.
If you are coming at the Crypto market with your worthless Legacy bux from being a wagecuck, right now is a good time to buy Bitcoin, which almost fell back to $15K from its recent highs. But of course this all changes radically from hour to hour.
Remember lads, the only currencies that will matter in the future will be Crypto: and right now that Crypto future is ruled by King Coin, so always think in terms of BTC. Legacy money is worthless in a world where Crypto returns make bank returns look like hyperinflation on your Weimar Republic legacy money.
Death to the banks, and death to government fiat currency Antichrist money.
Full disclosure: John Miller’s IRL name is Frank Faulkner. I’m an Aussie and when I’m not obsessing about Conservative politics or defending Trump I also enjoy various sports and Christian activities