PeterMosesLee

peterbllee@bbs

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I was in the accounting line for decades but did poorly because of https://bbs.market/MEMORE/posts/dUw7bXuAZfNcr01XoBUO Recently I changed my career to become a ✍️writer so that I can work slowly without irritating bosses

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11Followers

5Following

Is A Bounce Imminent?

There are various factors that are positive for cryptos and risk on assets like gold and silver. Examples: ETH ETF, Nashville Conference, Uncertainties about Elections, Escalation of situation in middle East, Violence in various countries like France, UK, Bangladesh etc, Last few days we have seen prices of cryptos and precious metal go down instead of up. Are we going to have a violent bounce up?Jul 25, 2024

Roundtable

Distribution of income to the communities in RTB

Currently only the few boards that are classified as "Active" get to share in the income of RTB. Based on the criteria that was in place before the rebranding of BBS to RTB, the only board that actually qualify to be "Active" Is RTBHOME. Before the rebranding, METABBS was the only board that qualified but even this board (now rebranded to METARTB) fails to meet the criteria set. It is high time to revise the criteria for transparency and clarity for targets that boards can aim to achieve. 🦋 I hope that the following suggestions will be considered : 1) The number of users of RTB is negligible compared to the heydays of BBS. The influencers joining RTB will be good for RTB in the long run. But in terms of getting active users, the increase has been very low 🦋. In order to attract users to RTB, the distribution of rewards need to be widened. With the distribution restricted to just a few "Active" boards and no realistic or clear targets for other boards, there is no incentive for people to try to start or grow boards that will get to participate in the income of RTB. 🦋 The early days of BBS with easy money led to abuses and we should not go back to them. CPM rates of 150 or even 50 are not sustainable. I would like to suggest a 2 tier CPM rate to be implemented. Say 8 or 10 for boards meeting the revised criteria to be considered as "Active" and say 3 for other boards. The low CPM rate for non Active boards is so as to not attract junk posts made to earn. What can be earned by junk posts will not be worth the effort of making them. On the other hand the owners of boards that have yet to qualify for active status will at least have a little funds to reward good posts/comments. Currently such boards have no funds for tips and are unable to attract users to remain active.Jul 18, 2024

Roundtable

Prediction of Posts

The slider to set the value for which we want to predict posts is meant to make it easy for us to change values. However it way too sensitive and jumps to maximum. This has happened to me many times. The value jumped to maximum when I was trying the get to the "Promote" button to confirm my prediction. 🦋 I hope that the jumping to maximum will not be activated so easily.🦋 Alternatively, there could be a waiting time of say 3 or 5 seconds before the prediction becomes final. During the waiting time, the prediction can be cancelled. 🦋Jul 18, 2024

Roundtable

Response to AltcoinDaily's post "Is now a good time to buy Etheteum?""

Based on various factors that affect crypto prices, most analysts are bullish about cryptos. If we consider a time frame 6 months or more to say, the end of 2024, it is almost certain that BTC, ETH and many Alt coins will be higher than their present prices. ETH in particular is expected to outperform the general crypto market so now is a good time to buy ETH. However this does not mean that the price of ETH cannot fall below its current value. BTC followed by ETH are the biggest and most stable in price of cryptos. Even BTC can experience several corrections of between 20 to 30% within a bull cycle. Crypto prices has moved in cycles of roughly 4 years linked to BTC halving. Based on these cycles which have been very consistent in their pattern, 2024 and 2025 are bullish years. After a strong 1st quarter for 2024, the current correction is just one of several corrections that will take place in the bull cycle. During such corrections BTC lose 20 to 30% while Alt coins lose 40 to more than 80%. In the present correction, many Alt coins have lost between 40 to 85%. The correction for BTC and ETH has been much lower at around 15 to 20%. Have we reached the bottom? Maybe but quite likely not yet. If we have not, BTC and ETH will lose less than other cryptos. As such they are good choices for those who want to benefit from present low prices. At the same time they have lower potential losses. In the past bull cycles, BTC leads they way followed by ETH. After that money flows to big cap Alts and then small caps and then meme coins. In the current cycle ETH and big/small caps are still lagging BTC. Therefore, ETH has the potential to outperform BTC and other Alts when prices start the next leg of the bull cycle. The BTC spot ETF approval is one of the factors that contributed to the present bull cycle. When BTC spot ETF's started trading, BTC fell for some time. This was because of outflows from Greyscale which had BTC futures ETF before the spot ETF. The same pattern could very well happen with ETH. Greyscale currently has ETH futures ETF and selling by the current holders of the futures ETF will dampen ETH price in the early days of spot ETH ETF trading. Spot ETH ETF's are expected to start trading in early July 2024. Although the approval of ETH ETF's is bullish, it is likely for ETH to drop for a while as a result of such selling by Greyscale. Thus, it is advisable for those who want to buy ETH to not jump in fully but buy progressively and DCA. Starting to buy now will lower the average cost as the early purchases will be cheaper than later purchases as ETH price rise. On the other hand, should ETH price fall temporarily, the subsequent purchases at lower prices will reduce average cost.🦋 Besides the above reasons to start buying ETH now, there are several developments that are positive for ETH. The SEC has just dropped their case against ETH. Having an ongoing case by the SEC would have dampened the bullish prospects of ETH. Take the case of XRP. XRP was once the second largest crypto next to BTC. The multi year SEC case against XRP which is yet to be fully resolved has greatly hampered XRP. XRP failed to take of during the last bull cycle and is also disappointing in the current cycle. Its current price of around 50 cents is about 15% of its all time high of $3.84 in 2018 set 2 bull cycles ago. The dropping of SEC's case against ETH is very bullish for ETH. 🦋 The coming USA elections in November is bullish for cryptos in several ways. Candidates attitude towards cryptos have become an election issue. Republican Trump who was against cryptos in the 2020 election is pro crypto for this election and has used the Democrat hostility towards cryptos in his campaigning. Such hostility can cause the Democrats to lose votes so they have softened in their stance. Perhaps this softening has a part to deal with the unexpected approval in May of ETH ETF and the very recent dropping of the case by SEC. Such softening may lead to the final resolution of the SEC's case against XRP. The whole regulatory framework for cryptos could change and with cryptos being considered as commodities instead of securities. This will clear the pathway for more spot ETF'S such as Solana and XRP. Another reason why the coming elections is bullish is that governments try to boost the economy and markets prior to elections. This is to create a wealth effect to increase satisfaction of voters. We can expect to have an interest rate cut before the November election. Such an interest rate cut will be bullish for both the stock market and cryptos. 🦋 The supply compared to demand of goods affect prices. The supply of ETF is at multi year lows while the demand for ETF is high and will increase further. Why is this happening? Strong holders of ETH are positive about ETH and will hold on to what they have. Having no intention to sell ETH in the near future they have taken out their ETH from exchanges and keep then in their own cold wallets. So the amount of ETH that is available on exchanges has fallen. The strong holders will not be easily shaken by FUD (Fear, Uncertainty, Doubts) and so the limit the downside when there is FUD and corrections. Another factor for the low amount of ETH is that ETH is deflationary. As the usage of ETH increase, the amount that is burnt also increase. Institutional funds flowing into ETH will increase the demand for ETH. The increase in ETH price will fuel further increase in demand as FOMO and herd mentality drive people to ETH. The increase in price of ETH as a result of money inflows into ETH is likely to be more pronounced than that for BTC. The market capitalization for ETH is much smaller than that of BTC. This make the proportional effect of inflows into ETH bigger than that for BTC following the BTC ETF'S. 🦋 Another factor for ETH is that it is a likely protocol that will be used for tokenization of assets. ETH is already the leader in being used for smart contracts and Defi. Compared to BTC which is valued as a store of value, ETH is widely used for smart contracts and in apps such as Defi. Such usage and for new apps such as tokenization of assets is likely to increase as ETH Layer 2's take advantage of upgrades in ETH. The Dencun upgrade and improvements in sharding technology has lowered the gas fees for ETH Layer 2's. The growth and development of ETH Layer 2's will make ETH more widely used and is bullish for ETH. With so many bullish factors for ETH, now is certainly a good time to buy ETH. However as mentioned above, the price of ETH will fluctuate and have sizeable corrections. So it is advisable to DCA and buy progressively.Jun 23, 2024

Roundtable

What I hope to see in RTBHOME

The various members of the Roundtable team who publish articles in their existing social media know their stuff. What I hope to see in RTBHOME is not just articles from their existing social media. If this is the case then the board will be no better than Crypto Banter. What I hope to see in RTBHOME is that those who make posts will take the trouble to engage with other users. Established and well known authors may not have the time to fully engage with other users of the board. What RTBHOME can do to alleviate this is to appoint moderators who could do the engagement on behalf of such authors. 🦋Apr 14, 2024

Roundtable

XRP price in the last 2 bull cycles.

The coming of the next BTC halving in the 3rd week of this month has drawn a lot of hype. It is said to be one of several factors that is causing BTC price to rise this year. Other factors are the Spot BTC approval in January of this year and expectations that the Feds will start to cut interest rates this year. There is a high correlation between the BTC price based on its halving cycles and the general crypto bull cycles. The halvings occur once in roughly 4 years and the crypto market (including BTC) also moves in 4 yealr cycles.  Based on the 3 BTC cycles we have had so far, the crypto bull cycle does not exactly coincide with BTC halvings.  Price tend to consolidate around the halving, take off a few weeks after halving and reach the top of cycle in the following year.  As the BTC halvings occur in 2016, 2020 and 2024 the crypto market topped in 2017, 2021 and if history repeats will top in 2025. XRP started to go parabolic in 2017 and hit an All Time High of $3.84 in Coinbase during 2018. However XRP did not do well in the Crypto bull cycle that topped in 2021. Instead it crashed to hit a low of $0.22 😮 What happened that such a huge anamoly occurred? The SEC started a law suit against Ripple. the team behind XRP, that it sold XRP as an unregistered security.  The legal battle has dragged on for years and has kept XRP down. Following a ruling by judge Torres was not a sucurity, the price of XRP jumped but was not able to break $1. The SEC is not giving up and is trying to make Ripple pay a penalty of $2 billion. If the SEC succeeds, it will cause XRP price to crash again.  The FUD and also the recent market correction saw the price of XRP going to $0.5 but has recovered to $0.6. A long way off from its ATH of $, 3.84 How will XRP do in the present bull cycle?  There is exciting developments regarding XRP that can lead to its price well exceeding the ATH 🦋 I will go into what is happening for XRP in another post 🦋Apr 5, 2024

Roundtable

Major Altcoins

ETH has grown so big that some people no longer consider it as an Altcoin. A few years ago there was speculation that it could flip BTC. This  now seems to be an unlikely prospect. While ETH is here to stay, its position as #2 behind BTC is open to challenges. BNB was the #3 in terms of Market capitalization until it was flipped by SOL. Can SOL make further progress and eventually flip ETH as well. Other major Altcoins that did well in the previous bull cycle includes LINK, ADA, AVAX, Polygon amd Polkadot but these have not done well in the current cycle. What do you think of their prospects? Do you think that they have not done well yet because Altcoin Season has not started yet? https://bbs.market/RTBHOME/posts/I9TJtlWETXbP2QyLzi9p?refBy=912514955724541618 If Altcoin season is fully underway, will they take off as well? Or will they lose their shine against newer Altcoins? What Altcoins do you think will do well in the current bull cycle? 🦋Apr 4, 2024

Roundtable

What will help Gamefi take off.

Parents are not happy when children are too absorbed into playing games. Playing games was considered as unproductive. In the previous bull cycle P2E has allowed gamers to not only to enjoy playing games but to earn big money. There were full time gamers who earn much more playing games than they could if they were working in other jobs. Games or programs like Sandbox or Decentraland allowed gamers be develop locations, objects, weapons, persons etc that could earn the creator money when people use, visit or buy them. A limiting factor for earnings is that what is developed in a particular game or program earns within that platform only. A recent development in gaming that will take P2E to another level is the cross platform use of what is created by users. This will allow creators to earn from other platforms or games other than the one they created on. 💵💴💶💷 🦋Apr 4, 2024

Roundtable

Are we in Altcoin season?

Certain altcoins like Solana and many meme coins have posted strong gains. During Altcoin season, Altcoins outperform BTC. So if we are now in Altcoin season, we can make more by increasing the percentage of Altcoins in our portfolio. The usual pattern in past bull cycles is for BTC to lead the way and for BTC dominance to grow. After that ETH will play catch up and other major altcoins will follow. Then money will flow to the small caps and meme coins. This cycle seems to be different. ETH and the large caps are lagging and meme coins have gotten a lot of interest. Normally people jumping into meme coins is a sign that the market is topping the bull cycle. 🦋 We are still far from a cycle top and there is still a lot of room for cryptos to grow. BTC dominance is still growing. 🦋 In my opinion Altcoin season has not really started. What do you think? How would you structure your portfolio in the near or medium term? I bought some Altcoins like SOL, ADA and AVAX recently. The latest round of correction has hit them harder than BTC. My holdings of these ADA and AVAX are now underwater. Looks like I went in too early. I will hold them and I believe that they will recover 🙏🦋 Do you agree that it is better to be early than to be late?  For example those who bought BTC at 30K suffered  paper loss when the price fell to 17K. But compared to buying now at 65K, they saved a lot more than the interest on their capital.  Those who buy now at 65K or even at the recent ATH of 73K will be happy they bought at that price when the price of BTC has risen to 90K or 100K 🦋Apr 4, 2024

Roundtable

More information needed about RTBHOME

The "About Community" section of RTBHOME says : Discus cryptos, freedom and related topics. The rules presently adopted by BBS network says that in order to qualify for Engagement Mining (EM) boards must have a focus topic. A board that is not concerned about getting EM but just want to grow in size can allow posts on anything under the sun. I believe that the team behind RTBHOME and also most of its members hope that the board will eventually qualify for EM. As such it needs to have a focus in order to comply with the requirements of EM. Recently there has been posts about a hotel and service apartments. Such posts do not seem to fit into what is mentioned in the "About Community". It will be good if the " About Community " Is expanded to state more clearly what are the rules of this community and what type of posts are allowed. 🦋Mar 30, 2024

Roundtable

Promoting RTBHOME

RTBHOME is a new board that I hope will succeed. In order for it to succeed, it must get more people to join it AND get people to participate on it. By participation, I mean more than just making posts but to engage with other users on their posts as well as on their own posts. Comment on the posts of others as well as reply the comments on your posts. If the above is the norm on RTBHOME, it will be a lively and interesting board to be in. The first step to achieve the above is to get more people to join RTBHOME. We can do our part by promoting RTBHOME to our friends and relatives. METABBS allow boards to be promoted on it up to 3X a week. Promotions can be done by the administrator (owner) or anyone who has his approval. I am not the admin and so cannot carry out promotion on METABBS. What I did was to make a post about BBS tokens but tied it to the contents of a post in RTBHOME. In this way I hope to draw the attention of those in METABBS to RTBHOME. https://bbs.market/METABBS/posts/Km2TFjd5ace6MmrfOKO0?refBy=912514955724541618Mar 20, 2024

Roundtable

Which is more crazy: BTC hitting $8.9 K or Slerf hitting a new ATH.

BTC which suffered several several short dips since the launch of spot ETF's suffered its first real correction yesterday. Yesterday's price decline was not like the previous dips which were quickly bought up. Not only was the price drop yesterday more severe but it was sustained. Price today is still weak and we will likely see prices (not only for BTC but also for other cryptos) dropping further today. So it is not surprising for fear to make people want to sell before prices fall further. Did such fear cause BTC to drop to $8.9K yesterday? NOT a drop of $8.9K but actually hitting a low of $8.9K 😮🦋 The price hit that unbelievable level on one exchange only and bounced straight back up immediately. My comment to the post below explains how it happened and also my guess on why it happened. Crazy effect of what a market order can do on an exchange with low liquidity. 🦋 What may be considered as more crazy than the low hit by BTC is the new ATH hit by Slerf. Slerf is a new meme coin on Solana that carried out an Initial Coin Offering. Millions of dollars were sent to a Solana address by people jumping on the craze for meme coins on Solana. The person behind Slerf accidentally burnt all the Slerf tokens. Since the tokens has been burnt, they cannot be distributed to the people who applied for the ICO. We would have expected outrage over what happened. Instead we saw sympathy. There are certain exchanges that list and trade coins before they are actually launched. People bid up the price of the worthless (since the tokens have been burnt) to a new ATH. Those who showed sympathy is not just the people who applied for the ICO but included exchanges that listed Slerf. The exchanges decided to donate the fees they earned. Thus instead of receiving nothing, those who applied for the ICO will receive the donations of the exchanges and from donations of others. WHICH OF THE ABOVE DO YOU THINK IS MORE CRAZY? https://youtu.be/IpHjQuyHJ24?si=eDGWIorAtR-08d6KMar 20, 2024

Roundtable

Which will come first : BTC above $80K or ETH breaking its ATH of $4.6K?

Based on the pattern of BTC doubling within 18 days of setting a new ATH it should be above $80K very soon. The effect of the Dencun Upgrade on the price of ETH may take a while for the price to exceed $4.6K. Will the hype about the possibility of ETH spot ETF help its price to rise faster? Which do you think will have a greater effect on ETH prices - Dencun Upgrade or Spot ETF?Mar 16, 2024

Roundtable

Will Ethereum benefit from the success of its Layer 2's?

Ethereum has gone through several major upgrades such as ETH 2.0 or The Merge, The London Upgrade, and just yesterday The Dencun Upgrade. If you look at the price movement of ETH just after the upgrades, the price went down instead of up. Is this just "Buy the rumor and Sell the news"? - price going up before the upgrades because of hype or expectations? Is the fall in ETH prices after the Dencun upgrade coming live because it did not live up to what was promised? What was the Dencun upgrade supposed to do and what are its benefits? Gas fees for ETH is notoriously high. Layer 2's like Avax, Polygon, Optimism, Arbitrium have came out to speed up transaction speed and lower gas fees. These Layer 2's does deliver and have become or are becoming (for the more recent Layer 2's like Optimism & Arbitrium) successful. The prices of the native coins for these Layer 2's have risen and are rising The Dencun upgrade has features such as blood, improvements in sharding and roll up technology. These features will help the Layer 2's to further reduce their gas fees which is already so much lower than that of Ethereum itself. The thing is that the Layer 2's have to make adjustments to make use of what comes with the Dencun upgrade. We can expect the Layer 2's to move fast to make the necessary changes and benefit from Dencun. Thus it is the Layer 2's that benefit from Dencun before Ethereum does. Dencun will grow the usage and prices of the Layer 2's The Layer 2's operate on top of Ethereum layer 1. So as the usage of its Layer 2's grow, Ethereum also grow - Not by as much or as quickly but still it will grow.Mar 14, 2024

Roundtable

Has Altcoin Season Started?

Bitcoin has set a new ATH and most of other cryptos have not. Normally Bitcoin leads the way followed by Ethereum. Then money flows to the other Altcoins with the bigger Altcoins getting attention before the smaller ones. By the time meme coins start pumping we are normally well into the bull cycle. HAS ALTCOIN SEASON STARTED? Some meme coins like Doge and Shibu seems to be pumping before Altcoins that are bigger and that have real use. WHAT ALTCOINS ARE YOU GOING INTO? I have recently sold a little Bitcoin to buy Solana and Chainlink.  DO YOU  THINK THAT ETHEREUM, SOLANA  & CHAiNLINK WILL PUMP SOON? WHAT NARRATIVES DO YOU THINK WiLL DO WELL? Mar 12, 2024

Roundtable

Will Ethereum be next?

The approval of spot ETF has given Bitcoin the momentum to set a new All Time High of $72, 000. In all previous halving cycles, Bitcoin new ATH comes after halving. As the price of Bitcoin rose it outperformed Ethereum. Although the increase in price of Ethereum was good, it was not as fast as that of Bitcoin. During the last few days Ethereum is playing catch up. The price of Ethereum has risen from $2, 300 at the beginning of Feb to $3, 300 at the end of February. This is still very far from its ATH of more than $4.8K that was made in 2021. The last few days has seen Ethereum climbing again and has now broken above $4K. The approval of Spot ETF has brought in a huge increase in the demand of Bitcoin. Is the expectations of the approval of spot ETF for Ethereum responsible for the rise in the price of Ethereum so far in March? Even before the actual approval of the spot ETF for Bitcoin, the anticipation of the approval was enough to drive price up. People bought ahead of the approval to front run the approval. After the approval prices dipped for a while as a classic example of "Buy the rumor and Sell the news" Is a similar process happening for Ethereum? Blackrock has submitted an application for spot ETF for Ethereum. The deadline for the SEC to decide on the application is in May. Will the SEC delay until May before deciding on whether or not to approve Ethereum ETF's? Do you think that the SEC will approve Ethereum ETF's?Mar 12, 2024

Roundtable

Ethereum Dencun Upgrade

The major criticism of Ethereum is its high gas fees. The gas fees for Ethereum is not fixed but depends on traffic congestion. Ethereum is slow leading to congestion. So the gas fees for Ethereum can be said to vary from high to extremely high depending on the amount of traffic on the network. The much delayed ETHEREUM 2.0 was supposed to help reduce gas fees but the reduction is disappointing and gas fees is still very high. In another few days we are supposed to get the Ethereum Dencun upgrade which is supposed to speed up Ethereum and reduce its gas fees. The Dencun upgrade includes 9 Ethereum Improvement Protocols (EIP) that will be progressively implemented. One of the most important EIP is EIP 4844 which will introduce Proto-Danksharding to Ethereum. EIP-4844 – Proto-danksharding will introduce temporary data blobs that rollups will be able to use to store a part of the transaction data. The temporary data blobs will not interact with the EVM allowing lower gas fees and will enable Ethereum nodes to stay slim. Will the Dencun upgrade be implemented as scheduled or will it be repeatedly delayed as Ethereum  2.0 was?  Will the Dencun upgrade deliver on what is promised and speed up Ethereum and  reduce its gas fees considerably?  Or will it disappoint like in Ethereum 2.0?  The price of Ethereum has risen from $2, 300 in the beginning of February to more than $4, 000 currently. A rise of around 74% in slightly over 5 weeks.  If the Dencun upgrade is implemented as scheduled and does deliver the promised improvements  we will see Ethereum testing it's All Time High of 2021 .  Can we get this in March 2024 or April  2024? Mar 12, 2024

Roundtable

Trump will tighten the loose immigration policies of the Biden administration

https://www.bbc.com/news/world-us-canada-68486942 Nikki Haley has announced that she has exited the race for the nomination by the Republican Party. She had won only 91 delegates compared to the 1062 won by Trump. However Haley stopped short of endorsing Trump so that those who backed her would vote for Trump in the actual presidential election.. Haley won very few delegates (only 2 states) under the winner take all system. However she did receive a significant amount of votes. 20% or to as much as 40% in some states. With Haley not throwing support for Trump by endorsing him, her supporters may either not vote or vote for Biden. Biden who is trailing Trump in the polls is reaching out to those who voted for Halley. Tighter immigration is one of the central points of Trump's campaign. Do you agree that immigration under Biden has been too loose?Mar 8, 2024

Roundtable