OT: Ray, how's your Bitcoin investment going?

[54ny77]

it's funny seeing the angst about bitcoin price crashing.

umm, it went from about 5 cents to 41 grand.

if you held it that long....

...with 1 coin you could buy 2 new top shelf bikes!

(okay well maybe 1 after takes...)

[redir]

The usual disclaimers apply... I am not giving financial advice but.

The meme coin Catcoin (CATS) is going gangbusters.

[mstateglfr]

Originally Posted by redir

The usual disclaimers apply... I am not giving financial advice but.

The meme coin Catcoin (CATS) is going gangbusters.

Why is it going gangbusters?

[redir]

Originally Posted by mstateglfr

Why is it going gangbusters?

IF you think of these meme coins as like for example a viral video then that explains it. Cats rule the internet and have ever since it came out. Some You Tubers or Tik Tockers will post a cute cat video and their accounts go crazy, they go viral.

It's hard to explain and it helps to understand the culture. We had two dog meme coins in the past couple years that went to the top. DOGE peaked (or mooned in the culture) after Elon Musk made a tweet about it. Musk hinted about SHIB too and that went up. So is this the year of the CAT? We'll see.

Another part of the culture is cyber communities. Game Stop stock is a perfect example of this. A bunch of people got together in the cyber space and made a pact. They stuck to it, it went viral and got the attention of the world. But since Game Stock is on Wall St. the big boys were not gonna have any of that!

But with crypto it's the wild west. Meme coins share both traditions stock like asset value with a bit of gambling and some may argue a pyramid scheme too but in the end it's all fair.

I caught SHIB at the tail end of it's viral movement. IT was at 5 zeros, something like 0.000007888 when I bought it. And so realistically I didn't expect much gains. It dropped one more zero shot up and now has evened off. DOGE did the same thing so they have sort of established a pattern. CATS is following the exact same chart as SHIB now and is at 7 zeros. So that is why I believe it still has a way to go. It has the cyber culture community and has had tremendous volume in the last week. It's kind of like turning a huge oil tanker around in the ocean once it's going it doesn't just stop.

But it's crypto so anything can happen

[Michael D]

Originally Posted by redir

The usual disclaimers apply... I am not giving financial advice but.

The meme coin Catcoin (CATS) is going gangbusters.

Where can you buy obscure altcoins such as this in the U.S? It's not on coinbase for example. What are you using?

Thanks

[mstateglfr]

Originally Posted by redir

IF you think of these meme coins as like for example a viral video then that explains it. Cats rule the internet and have ever since it came out. Some You Tubers or Tik Tockers will post a cute cat video and their accounts go crazy, they go viral.

It's hard to explain and it helps to understand the culture. We had two dog meme coins in the past couple years that went to the top. DOGE peaked (or mooned in the culture) after Elon Musk made a tweet about it. Musk hinted about SHIB too and that went up. So is this the year of the CAT? We'll see.

Another part of the culture is cyber communities. Game Stop stock is a perfect example of this. A bunch of people got together in the cyber space and made a pact. They stuck to it, it went viral and got the attention of the world. But since Game Stock is on Wall St. the big boys were not gonna have any of that!

But with crypto it's the wild west. Meme coins share both traditions stock like asset value with a bit of gambling and some may argue a pyramid scheme too but in the end it's all fair.

I caught SHIB at the tail end of it's viral movement. IT was at 5 zeros, something like 0.000007888 when I bought it. And so realistically I didn't expect much gains. It dropped one more zero shot up and now has evened off. DOGE did the same thing so they have sort of established a pattern. CATS is following the exact same chart as SHIB now and is at 7 zeros. So that is why I believe it still has a way to go. It has the cyber culture community and has had tremendous volume in the last week. It's kind of like turning a huge oil tanker around in the ocean once it's going it doesn't just stop.

But it's crypto so anything can happen

Yeah, still not sure why its going gangbusters. A cat meme is free. If someone likes the cat meme, download it and its yours. I dont see why that translates into spending money on cryptocurrency that references a cat.
There is no inherent value and it is not tied to the value of anything tangible, from what I can see.

So the value is going up just because some cat nerds are buying it to have, even though it does them no good to have it? Sounds like people with more money than sense have found a new way to 'invest'.


This doesnt seem at all like gamestop. Gamestop was a short squeeze, which is a traditional stock play. Now it being basically created by reddit and not being based on any fundamentals I guess is similar to this catcoin thing.

Regardless, its interesting- thanks for mentioning its existence. I will definitely read up on it.

[rice rocket]

Originally Posted by mstateglfr

Yeah, still not sure why its going gangbusters. A cat meme is free. If someone likes the cat meme, download it and its yours. I dont see why that translates into spending money on cryptocurrency that references a cat.
There is no inherent value and it is not tied to the value of anything tangible, from what I can see.

It's really just throwing money into a hole and seeing what happens.

Despite all the claims that crypto is decentralized, has no controlling founders/members, etc., 99% of these end up at zero value because the original owner with the most holdings cashes out and nukes the entire supply. It's literally boiler room stuff that's been banned many times over in actual markets, but since it's crypto, rules don't apply.

If you think you can pull out before **** goes south, have at it.

[redir]

Originally Posted by mstateglfr

Yeah, still not sure why its going gangbusters. A cat meme is free. If someone likes the cat meme, download it and its yours. I dont see why that translates into spending money on cryptocurrency that references a cat.
There is no inherent value and it is not tied to the value of anything tangible, from what I can see.

So the value is going up just because some cat nerds are buying it to have, even though it does them no good to have it? Sounds like people with more money than sense have found a new way to 'invest'.


This doesnt seem at all like gamestop. Gamestop was a short squeeze, which is a traditional stock play. Now it being basically created by reddit and not being based on any fundamentals I guess is similar to this catcoin thing.

Regardless, its interesting- thanks for mentioning its existence. I will definitely read up on it.

More or less yes. But if something does have value then it does have value. I love the Antique Road Show. They will have this incredible historical artifact that to me seems like it would be priceless and it's only worth $1500 dollars or something and then next up are these magic playing cards or something that has only meme like cultural significance and they are literally worth $100k or something. To me the blue flame card has absolutely no meaning but it does have value.

While gold does have some industrial purposes it's real value only comes from the fact that the community agrees that it has value.

DOGE and SHIB can actually be used to purchase things and CATS is giving proceeds to cat shelters and also will soon be used to purchase NFT's, that's a whole other can of worms there.

It is interesting stuff. Check it out for sure.

[redir]

Originally Posted by Michael D

Where can you buy obscure altcoins such as this in the U.S? It's not on coinbase for example. What are you using?

Thanks

It's not easy for sure. You have to do a lot of swapping and trading. If you do have a Coinbase account then buy BTC and send it to another exchange like Binance. I can't use Binance in the US because my bank won't hook up to it so I use Gate.io. Transfer the BTC to Gate then swap it for Binance BNB. Send the BNB to my wallet then use Pancake swap to buy CATS or other obscure alts.

It's insane but that is were we are at them moment

If you have coinbase then carefully follow this it will work:

https://cryptobuyingtips.com/guides/...oin-token-cats

There are fee's along the way. I transferred $1k to CATS and it cost me 10 bucks.

[redir]

Originally Posted by rice rocket

It's really just throwing money into a hole and seeing what happens.

Despite all the claims that crypto is decentralized, has no controlling founders/members, etc., 99% of these end up at zero value because the original owner with the most holdings cashes out and nukes the entire supply. It's literally boiler room stuff that's been banned many times over in actual markets, but since it's crypto, rules don't apply.

If you think you can pull out before **** goes south, have at it.

The Devs in CATS left the project after it kick started and it's only been since November. It is 100% community run now, no official leadership or anything. It's scary for a lot of people. It is throwing money down a hole that is why the best advice is to NEVER invest in crypto unless it is with money you are willing to throw away. And be VERY careful of scammers!

Anyway I have had huge gains on CATS this last week so I am just trying to share a tip out to anyone interested in crypto. In the last few hours there have been $10k purchases into CATS so it has gained interest from the big players. Anyone going in now will not see 1000% increases but I do believe there is room to grow.

[rice rocket]

Originally Posted by redir

The Devs in CATS left the project after it kick started and it's only been since November. It is 100% community run now, no official leadership or anything. It's scary for a lot of people. It is throwing money down a hole that is why the best advice is to NEVER invest in crypto unless it is with money you are willing to throw away. And be VERY careful of scammers!

That story is what everyone tells to get the fools to buy in, and it's always proven to be false. It's not community run, there are a handful of major shareholders and they determine what happens.

See, when BTC or ETH got majorly hacked, and they have to roll back and fork it to "return" their funds. Except you only get a fork if you're a big enough holder.

https://www.investopedia.com/tech/hi...in-hard-forks/

[redir]

It's not for everyone that's for sure.

[Michael D]

Originally Posted by redir

It's not easy for sure. You have to do a lot of swapping and trading. If you do have a Coinbase account then buy BTC and send it to another exchange like Binance. I can't use Binance in the US because my bank won't hook up to it so I use Gate.io. Transfer the BTC to Gate then swap it for Binance BNB. Send the BNB to my wallet then use Pancake swap to buy CATS or other obscure alts.

It's insane but that is were we are at them moment

If you have coinbase then carefully follow this it will work:

https://cryptobuyingtips.com/guides/...oin-token-cats

There are fee's along the way. I transferred $1k to CATS and it cost me 10 bucks.

Thank you for the information!

[redir]

BTC is on the rise again, and without getting political, because of the situation with Russia and Ukraine. It's interesting on a lot of levels but one is that it is rising because it is showing itself to be of it's original design, a digital currency.

Ukraine has opened up to cryptocurrencies and there are aid organizations accepting BTC, ETH and other digital currencies to help on the ground. I can send BTC to my family and friends in Ukraine in seconds, no bank transfers, no middle man, no fees. Just a transfer of currency from my wallet to theirs.

It's really a beautiful thing.

As a result for investors, the price is rising once again. It will be interesting to see if more people realize the utility of cryptocurrencies after this.

[deluz]

OTOH Oligarchs use it to hide their wealth.
BAD except the FBI / CIA may be able to crack it.
It has driven the price of GPU cards way up for legitimate users like me.