Cryptocurrency

[easilyscan 863]

On 11/11/2022 at 3:37 PM, Mike Honcho said:

I listened to Larry

Wise move.

[RaiderHaters Revenge 4,237]

3 hours ago, WhiteWonder said:

So did 9 out of 10 people you ask.

I could look at it like this. I lost 1000%
 

if I’m doing the math right. I started with 11k and was up to 190 at one point (peak dodge). When it hit 100k I watched for a day and couldn’t take it. Final cash out was 93k

[Shooter McGavin 618]

On 6/2/2022 at 8:39 AM, Cdub100 said:

DCA into Solana yesterday. They are really struggling, but I think they will turn it around. 

TheStreet: Cryptocurrency Solana Collapses in FTX Scandal.

https://www.thestreet.com/investing/cryptocurrency/cryptocurrency-solana-collapses-in-ftx-scandal

[Shooter McGavin 618]

2 hours ago, RaiderHaters Revenge said:

I could look at it like this. I lost 1000%
 

if I’m doing the math right. I started with 11k and was up to 190 at one point (peak dodge). When it hit 100k I watched for a day and couldn’t take it. Final cash out was 93k

Congrats, you did it right.

[WhiteWonder 2,675]

4 hours ago, RaiderHaters Revenge said:

I could look at it like this. I lost 1000%
 

if I’m doing the math right. I started with 11k and was up to 190 at one point (peak dodge). When it hit 100k I watched for a day and couldn’t take it. Final cash out was 93k

im not doubting you, but the comment you quoted saying you made $$ is no less true just because YOU made money. He was specifically talking about people who got involved with the various exchanges that have turned out to be Ponzis. First of all, it was a joke, but it's also fairly true. Many people were taken for a ride. 

getting into something and luckily getting out before the rug was pulled because you were happy with what you made doesn't change the overall picture. 

 

[edjr 6,578]

everyone but me won bigly with Crypto. Just ask them

[nobody 2,564]

On 10/8/2022 at 8:06 PM, Frozenbeernuts said:

A little update on bitcoin

The lightning network is going to facilitate an entirely decentralized app building platform. Bitcoin isn't just money, it's going to be the biggest advancement in technology that we have seen since the internet. It will be money and so much more.

Even if you don't think it should be considered money, you should respect the decentralized app structure that is being created.

 

On 10/9/2022 at 7:15 AM, Frozenbeernuts said:

Not many people are looking into it. There are maybe two other people on this site who know about the branching off of bitcoin uses.

If I went back in time and tried telling everyone about Apple before it was obvious, I bet I would get the same responses.

While I'm no authority, I consume a lot of bitcoin info. It's a good portion of my day.

 

On 10/9/2022 at 6:37 PM, nobody said:

Maybe if you explain why a decentralized app development platform built on the lightning network is such a game changer.  For instance,

1. How is it better than current app building platforms? 
2. What unique advantage are they bringing that isn't easily replicated?  Is it cheaper or something? 
3. I assume when you say app building platform, you're talking about blockchain apps.  If so, how is this new?  Don't all Blockchain technologies have APIs to build apps?  

I wonder if one of these days someone will actually give me something specific why crypto and block chain are going to take over the world.  

It's obvious no one knows.  That's why I don't think the price justifies it.  No one can even articulate the end use cases.  Until that happens how can you even estimate the total addressable market to begin to place a valuation on any crypto.  

[nobody 2,564]

I guess the answer is to throw out all the absolute bullshìt that used to be the reasons behind the underlying greatness and valuation of crypto:

1. It's going to be the new world currency!
2. It's a store of value!
3. It's a way to get privacy from the government!
4. It's a cross border money transfer system!
5. it's a payment processor!

The current answer seems to be (and I'm just spitballing here) that Blockchain creators would like to create a block chain ecosystem that will compete with the likes of aapl where crypto becomes the lubricant of this ecosystem that allows it to function.  This would be in the form of random coins that are specific to different applications, but then Bitcoin will find use as a "benchmark crypto" so to speak.  

That's what the crypto space needs.  Quit calling it a currency and call it an ecosystem.  Then work toward getting mass adoption through some virtual space.

[Big Guy 1,410]

nothing on BTX and the demorat money laundering?

[nobody 2,564]

This thread has been refreshingly apolitical.

[WhiteWonder 2,675]

1 hour ago, nobody said:

 

 

I wonder if one of these days someone will actually give me something specific why crypto and block chain are going to take over the world.  

It's obvious no one knows.  That's why I don't think the price justifies it.  No one can even articulate the end use cases.  Until that happens how can you even estimate the total addressable market to begin to place a valuation on any crypto.  

You seem to be closest to thinking along the same lines as me when it comes to this thread. 
(although I have bought and sold crypto.. but it’s been completely as a speculative investment taking advantage of others fomo) 

don’t expect anyone like FBN to give you actual specifics. I think he’s in the camp of people who just consume tons of YouTube vids and podcasts from “crypto experts” who are basically just crypto pumpers… and then passes that off as actual knowledge. I’m sure based on the sheer amount of time he spends on it, he does have more knowledge than the average FFT poster but if he can actually articulate any specific reasoning is unknown. He tends to speak in generalized statements, or yell that no one else is educated, or link a pump video. 

[Hawkeye21 2,382]

Looks like BlockFi is preparing for bankruptcy.

[RaiderHaters Revenge 4,237]

1 hour ago, Hawkeye21 said:

Looks like BlockFi is preparing for bankruptcy.

never heard of that one

[tubby_mcgee 700]

I haven't been in this thread for a long time.  So do the "crypto" guys still think Bitcoin and Bynocoin or whatever are still going to replace the dollar and are going to the moon?

I'm not trying to mock, just wondering if folk's outlook have changed.

[lod001 1,344]

The SBF freak's usefullness to the elites is over. Extradition in the works. Now he will get to see that he was just a wh0re for them.

[Alias Detective 1,389]

The ole too good to be true wins again.

[Frozenbeernuts 2,115]

FTX alone inflated the supply of bitcoin this last year by 25%. They weren't the only ones selling paper bitcoin. It artificially suppressed the price to a degree. We should have gone higher than 69k

Before you start telling me that if they can do that will always be an issue and therefore reflected in the price, I will preemptively counter that with this: exchanged have been doing this for a while. It has ramped up to take advanced of higher prices. They cannot keep doing it though as evidenced by how many have gone bankrupt

Ledger has had its best week of sales ever after the FTX blowup. People are taking their coins off of exchanges, FINALLY. Jesus how many people need to lose their life savings on exchanges before everyone wakes up and realizes they can't trust these fockers?

What happens to the price when the amount of bitcoin for sale is much smaller than the demand? Simple supply and demand on top of revolutionary technology.

Look at how cheap it is. Allocate 1% of your wealth to bitcoin. A nothing amount just in case I'm right. If I'm wrong you lose 1%. If I'm right it could end up being the most valuable part of your portfolio. We are still early enough for that to happen

90s baby, what's your opinion on bitcoin price in the future? Are you as bullish as me?

[easilyscan 863]

Now guys like Tom Brady, Larry David, etc, are being named in the lawsuit. Why would someone who simply agreed to do a commercial for a company be sued ? 

Because they're famous and have deep pockets. Shareholders who lost money should take it as a good life lesson and go away. They deserve nothing.

https://sports.yahoo.com/tom-brady-stephen-curry-shaq-and-naomi-osaka-among-celebrities-sued-in-class-action-crypto-lawsuit-181117155.html?.tsrc=364

[Big Guy 1,410]

 

[Shooter McGavin 618]

2 hours ago, Frozenbeernuts said:

FTX alone inflated the supply of bitcoin this last year by 25%. They weren't the only ones selling paper bitcoin. It artificially suppressed the price to a degree. We should have gone higher than 69k

Before you start telling me that if they can do that will always be an issue and therefore reflected in the price, I will preemptively counter that with this: exchanged have been doing this for a while. It has ramped up to take advanced of higher prices. They cannot keep doing it though as evidenced by how many have gone bankrupt

Ledger has had its best week of sales ever after the FTX blowup. People are taking their coins off of exchanges, FINALLY. Jesus how many people need to lose their life savings on exchanges before everyone wakes up and realizes they can't trust these fockers?

What happens to the price when the amount of bitcoin for sale is much smaller than the demand? Simple supply and demand on top of revolutionary technology.

Look at how cheap it is. Allocate 1% of your wealth to bitcoin. A nothing amount just in case I'm right. If I'm wrong you lose 1%. If I'm right it could end up being the most valuable part of your portfolio. We are still early enough for that to happen

90s baby, what's your opinion on bitcoin price in the future? Are you as bullish as me?

Still pumping

[Frozenbeernuts 2,115]

1 minute ago, Shooter McGavin said:

Still pumping

You know me. 1% of the net worth of the members here is going to make me filthy rich and move the bitcoin needle to moon status, so might as well pretend like it will go up.

The I told you so is going to feel so damn good when bitcoin goes over 100k. I will come back every time it reaches a new milestone to laugh at the stupidity in this thread.

When it happens, it's going to happen fast. People really can't grasp how small the for sale supply is.

[Shooter McGavin 618]

On 10/18/2021 at 4:55 AM, Frozenbeernuts said:

Horrible take. Don't fock people over with this crap.

No one can predict the price exactly at any moment, but I guarantee I follow along a lot more closely than you do.

DCA into bitcoin

There will only ever be 18+ million bitcoin. The supply coming onto the market gets cut in half every 4 years. What happens when all of the millionaires, billionaires, and entire countries on board into bitcoin?

El Salvador just made the world look like fools with their purchase of bitcoin from their reserves. What happens when other countries follow along?

At a point in the future, and its not that far away, like 4 years, millionaires won't be able to afford a full coin. Not unless they want to spend $1million on a single coin. Owning even a half of a coin will be considered a lot

[WhiteWonder 2,675]

33 minutes ago, Shooter McGavin said:

Still pumping

the best part is when he asks the only other person as blindly devoted to crypto if hes "still bullish" 

[nobody 2,564]

5 hours ago, Frozenbeernuts said:

FTX alone inflated the supply of bitcoin this last year by 25%. They weren't the only ones selling paper bitcoin. It artificially suppressed the price to a degree. We should have gone higher than 69k

Before you start telling me that if they can do that will always be an issue and therefore reflected in the price, I will preemptively counter that with this: exchanged have been doing this for a while. It has ramped up to take advanced of higher prices. They cannot keep doing it though as evidenced by how many have gone bankrupt

Ledger has had its best week of sales ever after the FTX blowup. People are taking their coins off of exchanges, FINALLY. Jesus how many people need to lose their life savings on exchanges before everyone wakes up and realizes they can't trust these fockers?

What happens to the price when the amount of bitcoin for sale is much smaller than the demand? Simple supply and demand on top of revolutionary technology.

Look at how cheap it is. Allocate 1% of your wealth to bitcoin. A nothing amount just in case I'm right. If I'm wrong you lose 1%. If I'm right it could end up being the most valuable part of your portfolio. We are still early enough for that to happen

90s baby, what's your opinion on bitcoin price in the future? Are you as bullish as me?

1% of my wealth?  No way I could afford to put 5 whole dollars into this thing.

[nobody 2,564]

1 hour ago, WhiteWonder said:

the best part is when he asks the only other person as blindly devoted to crypto if hes "still bullish" 

90sBaby likes ether anyway.

[Frozenbeernuts 2,115]

2 hours ago, nobody said:

90sBaby likes ether anyway.

Ethereum 2.0 doesn't even have code written to unstake coins. Which makes me think of all these exchanges going down with people's coins inaccessible

[Alias Detective 1,389]

On 11/16/2022 at 6:27 PM, Alias Detective said:

The ole too good to be true wins again.

Boomers and GenX ie. wisdom beat millennial arrogance.  I chuckle.

[JustinCharge 2,397]

i never got into bitcoin.  and maybe that is actually a mistake, as just a little money grew tremendously.  but id rather not. 

[WhiteWonder 2,675]

1 minute ago, JustinCharge said:

i never got into bitcoin.  and maybe that is actually a mistake, as just a little money grew tremendously.  but id rather not. 

If you bought Bitcoin and kept it somewhere safe (not on these ponzi exchanges) then you made money , potentially a lot, as long as you didn’t buy it at an average cost above 16k/coin. Or if you did, you sold on the last fomo rush up. Although most pro crypto people claim to be mainly in the hodl camp. 
 

I’ve had my fun and made some money with eth and doge. Of course I wish I had bought btc at 500 or even 5,000 before those respective run ups. But that’s more because I’m a trader. I don’t have any disillusionment that it will replace fiat. 
 

and now when I buy I simply use Robinhood. My first trades I was actually buying and selling the “physical asset” through coin base. 

[TimHauck 2,619]

Not sure what some of this means, but:

 

 

[WhiteWonder 2,675]

35 minutes ago, TimHauck said:

Not sure what some of this means, but:

 

 

Lol. What a great space when people can actively watch hackers / exploiters at work and just make casual twitter posts wondering what he does next  

mans bow does this guy know the exploiter is “inexperienced on chain?”

[TimHauck 2,619]

2 hours ago, WhiteWonder said:

Lol. What a great space when people can actively watch hackers / exploiters at work and just make casual twitter posts wondering what he does next  

mans bow does this guy know the exploiter is “inexperienced on chain?”

Yeah pretty much this:

 

 

 

 

[TimHauck 2,619]

Good and slightly humorous quick summary of FTX here

 

 

[nobody 2,564]

I like how they say the firm has been "hacked" like it wasn't an insider that drained the accounts.

[Hardcore troubadour 14,934]

Question for all of you finance wizkids. FTX was a publicly traded company, right? 

[Cdub100 3,838]

Just now, Hardcore troubadour said:

Question for all of you finance wizkids. FTX was a publicly traded company, right? 

No

[nobody 2,564]

On 1/8/2018 at 4:34 PM, nobody said:

You know what you can do to make some free money is play the arbitrage between the exchanges.

This is actually how Bankman-Fried made his initial money.  The difference between him and myself is I saw the exploit and did nothing about it, and SBF saw it and built a global network to take advantage of the free money... and then of course when he couldn't scale it any bigger he invented a counterparty to leverage against and when he got caught, the executive team likely stole all of the assets.

But people always act like the Bezoses and Musks of the world don't deserve to be rich and it's the employees that do all the work, but that's what separates a guy like Bezo from the engineer that is building his websites or the guy organizing logistics.  Bezo was one of the first to see the opportunity and had the motivation, dedication, and will to turn the idea into a fortune.  That should be rewarded over a guy like me who sees the opportunity late and makes a comment and just shrugs because I'm not ready to put the work in or take the risk to make the idea a reality.  

[Hardcore troubadour 14,934]

15 minutes ago, Cdub100 said:

No

Thanks 

[TimHauck 2,619]

On 11/17/2022 at 9:33 PM, WhiteWonder said:

If you bought Bitcoin and kept it somewhere safe (not on these ponzi exchanges) then you made money , potentially a lot, as long as you didn’t buy it at an average cost above 16k/coin. Or if you did, you sold on the last fomo rush up. Although most pro crypto people claim to be mainly in the hodl camp. 
 

I’ve had my fun and made some money with eth and doge. Of course I wish I had bought btc at 500 or even 5,000 before those respective run ups. But that’s more because I’m a trader. I don’t have any disillusionment that it will replace fiat. 
 

and now when I buy I simply use Robinhood. My first trades I was actually buying and selling the “physical asset” through coin base. 

Didn’t SBF buy a stake in Robinhood?

[nobody 2,564]

He did