Buy Solana now - wait 6 months, get super rich

[Chinacurry]

Price of a can of coke is not correlated to the market cap of Coca Cola. And the Cocoa rally is influenced by lower production in West Africa among other factors. Why would the hypothetical limit of cryptocurrencies' aggregate marketcap be likened to golds current market cap? That makes no sense to me.

Really no one knows what will happen in the markets. No one can predict.

I meant if crypto can get to a ridiculous market cap, let's say 10tn, then it is more down to global liquidity, therefore crazy inflation, not talking about KO balance sheet or anything.

I like gold as ONE logic because I think true use case for crypto outside of store/ hedge of wealth, is very very small, same as gold.

So if we assume 90% of all the gold processed to date is held today as a store of wealth / hedge, then in an extreme case crypto can match gold so can warrant a similar value.

However I am ignoring there is possibly more gold yet to mine than already mined, that might only become viable as tech improves and/or gold price reaches a level that warrants complicated expensive mining

 

[Chinacurry]

I agree

Especially because:
1. Cryptocurrency is a relatively new asset and business class.
2. The number of use-cases for it, is constantly expanding.
3. The adoption, is increasing kinda constantly.

This 3 factors.
Really make it hard to predict, what the total market cap of it can become in the next 10 years.

as an example, same kinda with the Internet entering the mass adoption phase in the late 1990's. No one back than, could had imagined online shops (amazon) and software companies (Microsoft) and search engines (google), etc... would become such huge asset class.

Those tech companies produce an asset that generates a return, so a bit of a tangent.

If you mean no one could assume we would adopt the internet the way we have, then fair point.

That said I still haven't been able to get too excited about crypto use cases. I just can't see any major need they can fill betterbthan what we have today.

 

[eduardkoopman]

I meant if crypto can get to a ridiculous market cap, let's say 10tn, then it is more down to global liquidity, therefore crazy inflation, not talking about KO balance sheet or anything.

I like gold as ONE logic because I think true use case for crypto outside of store/ hedge of wealth, is very very small, same as gold.

So if we assume 90% of all the gold processed to date is held today as a store of wealth / hedge, then in an extreme case crypto can match gold so can warrant a similar value.

However I am ignoring there is possibly more gold yet to mine than already mined, that might only become viable as tech improves and/or gold price reaches a level that warrants complicated expensive mining

I agree. Gold marketcap is a good indicator for the potential worth of cryptocurrency as an function/use-case for wealth storage.

The thing is though.
Imo, cryptocurrency asser class. Has many more use-cases than just storage.
Hence i guestimate this sector, will extract value from other asset classes as well. As it takes away market cap from those asset classes.
For example. Banks, financial services, etc..

Just like. How the Internet. Didn't just take away market cap from the "information storage (books, tapes, etc." Industry. But also took away marketcap from physical retail, entertainment sector, etc....

 

[Chinacurry]

I agree. Gold marketcap is a good indicator for the potential worth of cryptocurrency as an function/use-case for wealth storage.

The thing is though.
Imo, cryptocurrency asser class. Has many more use-cases than just storage.
Hence i guestimate this sector, will extract value from other asset classes as well. As it takes away market cap from those asset classes.
For example. Banks, financial services, etc..

Just like. How the Internet. Didn't just take away market cap from the "information storage (books, tapes, etc." Industry. But also took away marketcap from physical retail, entertainment sector, etc....

I know what ur saying, but decentralized nature means it can never monetize the business it takes away from banks or whatever, at least not at a good margin.

I do get your point though, and it has merit.

What r ur stats?

 

[eduardkoopman]

What r ur stats?

Coping gymcel

 

[Seth Walsh]

 

[buflek]

i bought SOL at 38$ but sadly only put in a couple of 100 so not much return.

do you think it will go up to 300-400$?

 

[Seth Walsh]

i bought SOL at 38$ but sadly only put in a couple of 100 so not much return.

do you think it will go up to 300-400$?

Yes I think so. Doesn't not mean it's guaranteed to, nor does it mean anything I say is, or should be taken as financial advice.

BTW: I'm blackpilling you all hard with this thread.

 

[X D]

View attachment 2806353

is investing in it still worth?

 

[dragomaxxer]

is investing in it still worth?

not rn its up by a lot, save up money wait for the next crash and then invest

this is what my daytrader friend who originally invested in solana when it came out told me to do as well

he makes a lot daily so i trust him a lot, i could stand to be corrected

thoughts @Seth Walsh

itll most likely hit a new high but if ur this late in the wave its not gonna be as worth as if you wait tbh

 

[Seth Walsh]

not rn its up by a lot, save up money wait for the next crash and then invest

this is what my daytrader friend who originally invested in solana when it came out told me to do as well

he makes a lot daily so i trust him a lot, i could stand to be corrected

thoughts @Seth Walsh

View attachment 2806404

itll most likely hit a new high but if ur this late in the wave its not gonna be as worth as if you wait tbh

Your "daytrader" friend is a massive phoney. Is he investing or daytrading? If you're trading short term you should not care about where price moves, as long as it moves. If you're investing, you want to just invest in stock market indices. If you're a long term trader like me, you DONT make predictions and you just follow the price.

Good traders should never interested in how much the price of an asset has already moved. The profit is in the price moves, and if they are unidirectional for a period of time, with strength, you can make off like a bandit by following the trend.

When I bought into Solana at $11 ish it was already up several thousand percent. What if I had got out at $22 saying "muh it already doubled muh no more room". I would've doubled the few thousand I put in. Instead I stayed patient, levered up within my risk measures and captured the full extent of the trend.

(the trend has not even ended; evident by the price going up. that's why my position isn't closed out)

What advice has your day trader friend gave you. What has he thought you? To be short vol in a long vol environment and miss out on massive trends due to impatience, taking small inadequate profits while leaving risk of ruin completely open?


Just trust your gut man

 

[buflek]

Yes I think so. Doesn't not mean it's guaranteed to, nor does it mean anything I say is, or should be taken as financial advice.

BTW: I'm blackpilling you all hard with this thread.

ik man. i probably even bought it back in the days because of this thread i cant remember

but seeing it stable while btc eth etc. all go down is a good sign.

only coin i ever lost money to was algorand tbh

 

[dragomaxxer]

Your "daytrader" friend is a massive phoney. Is he investing or daytrading? If you're trading short term you should not care about where price moves, as long as it moves. If you're investing, you want to just invest in stock market indices. If you're a long term trader like me, you DONT make predictions and you just follow the price.

Good traders should never interested in how much the price of an asset has already moved. The profit is in the price moves, and if they are unidirectional for a period of time, with strength, you can make off like a bandit by following the trend.

When I bought into Solana at $11 ish it was already up several thousand percent. What if I had got out at $22 saying "muh it already doubled muh no more room". I would've doubled the few thousand I put in. Instead I stayed patient, levered up within my risk measures and captured the full extent of the trend.

(the trend has not even ended; evident by the price going up. that's why my position isn't closed out)

What advice has your day trader friend gave you. What has he thought you? To be short vol in a long vol environment and miss out on massive trends due to impatience, taking small inadequate profits while leaving risk of ruin completely open?


Just trust your gut man

i get what ur saying makes sense

he isnt a phony though, he daytrades now, when he originally bought solana he was around 15 i believe and put a good amount of money in (comes from good money).

as for the timeline he bought sometime mid 2020 and sold around mid 2021 with a shit ton put in

its how he was able to afford royal oak ap from what he made at like age 17 afterwards, he just recently started actually daytrading now, he doesnt care about where it moves he simply trades along its movement short term like you said

he simply got lucky to have a lot of capital when he first bought and was able to capitalize greatly off of that, the only reason he told me to wait is because with my amount of capital it does not make sense to daytrade like he does along the movements since the amount of money you get in return for amount of time invested is simply not worth it, which is why he suggested to instead save up money for now wait for crash and then start trading along its movements.

if i had the amount of money he has in his account to trade with rn he would have just told me to start now i should have clarified that in iniitial response

 

[Seth Walsh]

he bought sometime mid 2020 and sold around mid 2021 with a shit ton put in

I'm saying this isn't day trading. That's just investing

 

[Seth Walsh]

he just recently started actually daytrading now, he doesnt care about where it moves he simply trades along its movement short term like you said

Okay makes sense but day trading or any type of short term strategy is so so high risk that it usually leads to the account being blown up eventually. Long term trading less so, but any form of trading is still high risk.

 

[Seth Walsh]

if i had the amount of money he has in his account to trade with rn he would have just told me to start now i should have clarified that in iniitial response

Yeah it seems like he had a lot of money to play with to start. Makes all the difference really.