Cryptocurrency - any of you guys into it?

#binance

The selection below that Yunei suggested are reasonable good choices.

XRP - BUY / SELL
ADA - HOLD OR STAKE
C98 - BUY/SELL
BNB - 50/50 HOLD OR Buy/sell

Although buying and holding is a good strategy, this works best when you understands the fundamentals of Blockchain and Bitcoin. I would suggest while holding. Spend time learning all you can about Blockchain, what it is, how it works and why it may have an even bigger impact on human development than the wheel.

Saggaboy wrote:

Blockchain ... may have an even bigger impact on human development than the wheel.

Or it could turn out to be .. the worst/burst speculative bubble the world has seen since Holland's tulip mania of the 17 century.

cccmedia

Did tulip bulbs have an even bigger impact on human development than the wheel?!?
(Or any of the other over-hyped things in the last 2000 years?)

Thanks deppi,

Some people just don't seem to get it!

Saggaboy wrote:

Thanks deppi,
Some people just don't seem to get it!

... and some aren't even able to type a 5-letters-long name correctly ...

  so true

beppi wrote:

Did tulip bulbs have an even bigger impact on human development than the wheel?!?
(Or any of the other over-hyped things in the last 2000 years?)

At least you can plant tulip bulbs, and get tulips in the Spring.  And more tulip bulbs in the Summer.

Tulips 1, Crypto 0 

You can also eat your tulip bulbs if times become desperate (they are supposed to taste like normal onions).
Despite the Cree chief's saying, banknotes can be eaten (they provide fibres, but no nutrition). With Cryptos you are entirely out of luck!

Bravoinfluencer wrote:

That's not true, There is a difference between buying and hodling crypto and trading crypto currency, when you trade you advance more and make more profit in a short period of time, you learn the market analysis, and also know the new good coins with use case to buy, keep and trade. Send me a message I'll teach you a lot you don't know in this space happening under your nose, Lol

Thanks, but I'll try the tulip bulbs before a cryposcam.

I do agree there's a lot of money to be made out of crypto - or at least out of idiots people con into buying the stuff.

Here we go again

https://www.bbc.com/news/business-59129466

Yet another crypto scam - Squid game

CRYPTOS TO THE MOON !

Saggaboy wrote:

CRYPTOS TO THE MOON !

By "moon" do you mean as in Mooning?

Saggaboy wrote:

CRYPTOS TO THE MOON !

Great idea - let's get rid of them on earth!

beppi, That's what they were design for, as we move into space we cannot take Fiat, Gold or Silver as currency but we can surely take Cryptos through the Galaxy.

Fred, X zackly, as in landing on the Moon, Mars, throughout the Galaxy etc.

Saggaboy wrote:

we cannot take Fiat, Gold or Silver as currency but we can surely take Cryptos through the Galaxy.

You probably don't know that more conventional money (and gold/silver) has been to space so far than cryptos (of which there were none - with the long distance data connections and speed, a single transaction would take hours or days!).

Yer, some make fortunes from crypto, but a good number of those fortunes are made by scammers and other undesirables.

https://www.bbc.com/news/stories-59062959

Millions upon millions, but who lost the cash she stole? Her lifestyle was funded by people she crypto-conned.
If this was a one off, that's one thing, but such stories come out all the time. Squid crypto, anyone?

Fred,

You mean scammers like we see in regards to US Currency, I got you.

beppi,

No I am not aware that conventional currency has gone to space, please enlighten me

Saggaboy wrote:

No I am not aware that conventional currency has gone to space, please enlighten me

Beppi was wrong - It was bitcoin

LINK

Fred wrote:

Beppi was wrong - It was bitcoin
LINK

O.k., I was wrong about Bitcoin in space. Sorry!
But conventional money was in space earlier and more often (although not as store of value, but as cultural or technical item): https://space.stackexchange.com/questio … y-in-space
I also think there are more pressing problems in space exploration (e.g. how to survive there in the long run), rather than solving the question how any future space economy (of which there are not even faint signs yet) would pay for purchases.

beppi wrote:

[
I also think there are more pressing problems in space exploration (e.g. how to survive there in the long run), rather than solving the question how any future space economy (of which there are not even faint signs yet) would pay for purchases.

I suppose there will, if the human race ever manage to settle on whatever planet, be some sort of banking system. I believe the best method would be a single identification of some sort, perhaps retina scan or an implanted chip.
House key and bank card in one - and really hard to lose unless you have a very serious accident.

However, it's highly likely bitcoin and all the other crypto scams will be long dead by that time.

Fred,

You seem to spend a lot of time discussing Cryptos, something you have no liking for and considers a scam.

Saggaboy wrote:

Fred,

You seem to spend a lot of time discussing Cryptos, something you have no liking for and considers a scam.

I can't speak for others but I was hoping for intelligent, well thought out arguments in favour of crypto. I see it this way, if such points are posted and I can't refute them, my position on the subject is wrong (or I'm thick).
As things are so far, I haven't seen a single pro-crypto point that have taken any effort to dispute.
The very lack of positive points suggests crypto is utter rubbish held together by hype and BS.

Only read a few comments, but how depressing. Ay=t any rate I shunned crypto for years. But now invest in it on a daily basis. Having been a stock investor for ions it certainly is different and takes some gettin use to. For much of my life they have talked about developing a market basket of currencies ( 5 ). It seems to me if someone statrted a fund for international settlements using crypto it would be a game changer in many ways. In fact you might se the USA make a huge move to ban crypto worldwide. For if it took over the international settlements space America would go under as there would be no need for anyone to buy their bonds. But one could speak volumes about crypto. One must be aware, especially in VN at the moment that there is a ponzie crypto outfit operating around the globe that promises 5.6% daily return. They use many different names e.g bnb-stake.com, bnb-yield .com, bnjj-stakepro.com and bnbpayement.com. Be careful you have to lose your money in the end when they are promising 2044 annual  yield.

cccmedia wrote:

Mining of cryptocurrency powered by hijacked computers?

Converting burnt coal into money?

Are these concepts valuable insights or mental mush?

Can someone besides Brother Bryant kindly explain....

They are currently just facts. One of the huge hurdles for crypto is the amount of electric power consumed in mining operations. I doubt we currently have the electrical capacity to support full adoption of crypto. Just one of the many problems it will face until answers are found. Crypto is an interesting idea, but maybe that is all it is. It will drive you crazy once you dive.

Diazo:
5.6% per day is NOT 365 x 5.6% = 2044% per year,
but 1.056 ^ 365 = 43384054919% per year (meaning one dollar yields over 400 million in a year).

Even stats can tell a story

https://www.coindesk.com/price/bitcoin/

Set the thing to 1 year and look at the value.
There are no shares, contracts, or anything else of actual value causing fluctuations, so one has to ask what causes the sharp rises and falls.

Last time I looked, it was people with a vested interest manipulating the price. Elon Must told the world he would accept bitcoin for his cars - the price went up, as did the value of his bitcoins.
Same goes for every other rise I looked at. There's always a player manipulating the price.

Fred wrote:

Even stats can tell a story

https://www.coindesk.com/price/bitcoin/

Set the thing to 1 year and look at the value.
There are no shares, contracts, or anything else of actual value causing fluctuations, so one has to ask what causes the sharp rises and falls.

Last time I looked, it was people with a vested interest manipulating the price. Elon Must told the world he would accept bitcoin for his cars - the price went up, as did the value of his bitcoins.
Same goes for every other rise I looked at. There's always a player manipulating the price.

Indeed, and the market is so small and the volume as well that it can be easily manipulated. Ones of its negatives at the moment. If you follow the charts of the main players you could overlay them on each other and they would all look the same. Unlike stocks which have many metrics to evaluate them crypto has few if any. So for sure it is the classroom definition of speculation. That is why one should only play with a small amount. Some are such a small small fraction of a cent that with a huge move up you have made 10 cents.

There's a massive difference between speculation and manipulation.
Bitcoin doesn't follow market trends, it follows a few very well informed manipulators conning bloody idiots into investing.
As for the rest, yes, some make money, but most will lose out. The manipulators set the market so they gain from fools.
Luckily for them, there are a lot of new fools to con.

https://voi.id/en/technology/66281/a-ha … rbage-dump

The trick to the truth behind this story is finding out who James Howells is, and what he does.

I'll give you one guess.

https://www.linkedin.com/in/howelzy/

Gosh!

So, at the end of the day, we're supposed to believe an IT expert tosses away an old hard drive without checking what's on it, AND the same tech geek didn't wipe and destroy a drive before dropping in into his dustbin.
Utter fairy land - I know to physically destroy even a non-working hard drive in order to be sure there's no loose data, but this guy doesn't.

Free advertising aimed at non-thinking idiots.

Fred wrote:

There's a massive difference between speculation and manipulation.
Bitcoin doesn't follow market trends, it follows a few very well informed manipulators conning bloody idiots into investing.
As for the rest, yes, some make money, but most will lose out. The manipulators set the market so they gain from fools.
Luckily for them, there are a lot of new fools to con.

https://voi.id/en/technology/66281/a-ha … rbage-dump

The trick to the truth behind this story is finding out who James Howells is, and what he does.

I'll give you one guess.

https://www.linkedin.com/in/howelzy/

Gosh!

So, at the end of the day, we're supposed to believe an IT expert tosses away an old hard drive without checking what's on it, AND the same tech geek didn't wipe and destroy a drive before dropping in into his dustbin.
Utter fairy land - I know to physically destroy even a non-working hard drive in order to be sure there's no loose data, but this guy doesn't.

Free advertising aimed at non-thinking idiots.

I think perhaps you confuse the definition of speculation and manipulation. Speculation
“ the forming of a theory or conjecture without firm evidence.” and manipulation “ the action of manipulating something in a skillful manner.”

Right now, it is essentially a speculative bet.

I am not anti-crypto.  A very small part of my portfolio is in crypto - flagged as high risk / high return investment, for diversification.  Interestingly, I play poker quite often in home games and the crypto investment vs. what I am willing to risk in poker, is the same . 

I believe that in the future, crypto will have a role to play.  The only thing that I differ on from most crypto fanatics is that "future crypto" is not likely to include most of the currencies in circulation today.   

Why?  it all comes back down to basic economics.   A currency has value because:

1) Someone says it has value i.e. Government / Central banks (in the past it was linked ​to Gold) - Not the case for the cryptos in circulation today
2)  It can be readily used / exchanged for other goods and services.  Again, not the case for most cryptos today due to point 1 above (Don't count the few merchants or services that accept crypto. I am talking about everyday life)
3) There is a transparent regulatory framework and market movements driven by economic indicators (Balance of payments etc.) - Again, doesn't apply to current cryptos

So all I am saying is that sometime in the future, a Government will launch and back a crypto currency of it's own, tied to a central bank and eventually, all the rest will follow.  The unregulated cryptos at that point will take a hit.

Again, this is my opinion and people are welcome to disagree with it.   For me to change my opinion, as @Fred said, I need to hear logical arguments grounded in economic fundamentals.  So far, not a single pro-post in this thread has provided those - it has been all based on emotion, "my experience" or ridicule/attacks.

beppi wrote:

Saggaboy wrote:

CRYPTOS TO THE MOON !

Great idea - let's get rid of them on earth!

As long as there’s no global ban on burning fossil fuel for producing electricity, cryptos will be the nail in earth’s coffin. Higher value will result in more mining, which already uses more energy than Belgium needs.

If you would only get entrance to a casino, by showing a certificate that 100 ton of coal was burned for you, just for the fun of it, such a casino would be rightfully closed asap.

At least growing tulip bulbs was a green business model.

XTang,

Nobody is trying to convince you or Fred about anything, all the Crypto post was for those interested in Cryptos and was offering a heads up for those willing to take the plunge and make a handsome return on their purchases. Those who do not believe in Cryptos should not spend time and energy boring others with their opinions.

11/09/21

Experts monitor this discussion because it's the kind that could lend itself far too easily to sketchy activity; if that appears, we want to be on it and zap it ASAP.

I make a point of reading all the new posts myself.   I don't usually comment, because a long and interesting life has taught me that pointing out folly rarely produces more happiness in the world, but I understand the impulse.

Those Lightbulbs aren't trying to bore you:  they're more like the cop on the beat, watching your back. 

In that case KEEP WALKING THE BEAT, ALL THE BEST

@Saggaboy

1) Exactly as abthree said above.  Most of these discussions lead to scams behind the scenes so it is best to keep an eye on these
2) Boring with opinions?  you maybe, yes but then again, this post is not just for you. Besides you don't need to read it or respond to it.  That is your choice.  There is no need for unnecessary sarcasm

01/24/22

Interesting perspective on what's been going on in the crypto market for the past couple of months:

https://slate.com/business/2022/01/bitc … stock.html

Bitcoin's slide as shown on xe.com chart.

Bitcoin investors have taken a major hit over the past couple of months.

The value of Bitcoin has dropped from a peak of 67,000 US dollars to 36,000 USD since November 10, 2021.

Source... xe.com Bitcoin-USD charting
USD figures rounded up or down to the nearest thousand dollars.