The Mighty Thor Posted March 30, 2022 Share Posted March 30, 2022 45 minutes ago, IronJambo said: I'm currently 75% down but I think I'll be 10,000x+ in a year or two. I might be crazy 🤷 but I don't think so 🤣 44 minutes ago, Selkirk_Jambo said: I've just about recovered my losses from the last crash. Bought a few Tezos coins at pretty much their lowest ebb and they've rebounded nicely. Hoping for a nice wee profit in the coming months. Probably crash again tomorrow, mind Everything is still well down on 12 months ago. I'm like you IJ I reckon it'll grow bigly over the next 2-5 years. Either that or I'll lose the lot 😂 Quote Link to comment Share on other sites More sharing options...
Watt-Zeefuik Posted March 31, 2022 Share Posted March 31, 2022 Bitcoin alone is now consuming 35% of the electricity dedicated to computing power globally. It consumes more power than Sweden. And increasingly, old fossil fuel plants are being used to power operations. There are just a few options now. It can move off of the "proof of work" standard. If it does not, government regulation of money entering or exiting the crypto market will be increasingly likely, with high power consumption currencies facing tariffs or fees. Or we just cook the planet because the idea of a digital equity was kinda neato. Quote Link to comment Share on other sites More sharing options...
IronJambo Posted March 31, 2022 Share Posted March 31, 2022 46 minutes ago, Led Tasso said: Bitcoin alone is now consuming 35% of the electricity dedicated to computing power globally. It consumes more power than Sweden. And increasingly, old fossil fuel plants are being used to power operations. There are just a few options now. It can move off of the "proof of work" standard. If it does not, government regulation of money entering or exiting the crypto market will be increasingly likely, with high power consumption currencies facing tariffs or fees. Or we just cook the planet because the idea of a digital equity was kinda neato. Most crypto doesn't have any relationship with bitcoin. As for your last comment 🤦. In a few years time big business isn't going to exist without crypto, they're going to be entwined. It's a case of joining the party or being left behind. Quote Link to comment Share on other sites More sharing options...
Watt-Zeefuik Posted March 31, 2022 Share Posted March 31, 2022 32 minutes ago, IronJambo said: Most crypto doesn't have any relationship with bitcoin. As for your last comment 🤦. In a few years time big business isn't going to exist without crypto, they're going to be entwined. It's a case of joining the party or being left behind. This is why I specifically wrote it about Bitcoin, because the comment was specifically about Bitcoin. If I were meaning to write about all of crypto, I would have said that, but instead I made it clear I was talking about Bitcoin. As to your last comment, LOL no. I know this brainworm has gotten hold of some big techbro CEOs with lots of money but it's completely ungrounded in macroeconomics. Crypto doesn't even function well as currency—the fact that you need a stablecoin to facilitate transactions in it should be a tipoff that it's just a boutique equity. Quote Link to comment Share on other sites More sharing options...
Unknown user Posted March 31, 2022 Author Share Posted March 31, 2022 5 minutes ago, Led Tasso said: This is why I specifically wrote it about Bitcoin, because the comment was specifically about Bitcoin. If I were meaning to write about all of crypto, I would have said that, but instead I made it clear I was talking about Bitcoin. As to your last comment, LOL no. I know this brainworm has gotten hold of some big techbro CEOs with lots of money but it's completely ungrounded in macroeconomics. Crypto doesn't even function well as currency—the fact that you need a stablecoin to facilitate transactions in it should be a tipoff that it's just a boutique equity. I agree crypto won't do what people think but the shared ledger principle behind it is strong and you'd think it'll be integrated into conventional banking more and more Quote Link to comment Share on other sites More sharing options...
Watt-Zeefuik Posted March 31, 2022 Share Posted March 31, 2022 Just now, Smithee said: I agree crypto won't do what people think but the shared ledger principle behind it is strong and you'd think it'll be integrated into conventional banking more and more It's certainly an interesting model, and there's an argument for it being integrated with existing financial systems. I don't know nearly enough about modern electronic finance to comment at that level—I admit I don't know how major bank wire transfers are secured and I could believe there are crypto solutions to that which could work rather well. The coming establishment of CBDCs is going to change everything, of course, as they're likely going to become the stablecoin of choice for everything, but again, I'm not keeping up with how all that works. What I am confident enough in saying is, as it sounds like you agree, the triumphalist stuff about crypto permanently (or even ever displacing more than niche instances) "fiat currency" is absolute bollocks born of warmed over libertarian gold standard nostalgia. But for that to happen, crypto as a whole (including Bitcoin but also some other chains) absolutely has to address its energy and carbon problems. Quote Link to comment Share on other sites More sharing options...
IronJambo Posted March 31, 2022 Share Posted March 31, 2022 9 minutes ago, Led Tasso said: This is why I specifically wrote it about Bitcoin, because the comment was specifically about Bitcoin. If I were meaning to write about all of crypto, I would have said that, but instead I made it clear I was talking about Bitcoin. As to your last comment, LOL no. I know this brainworm has gotten hold of some big techbro CEOs with lots of money but it's completely ungrounded in macroeconomics. Crypto doesn't even function well as currency—the fact that you need a stablecoin to facilitate transactions in it should be a tipoff that it's just a boutique equity. You didn't just write it about Bitcoin though. You went on to speak of the whole of crypto "government regulation of money entering or exiting the crypto market will be increasingly likely" Quote Link to comment Share on other sites More sharing options...
Watt-Zeefuik Posted March 31, 2022 Share Posted March 31, 2022 Just now, IronJambo said: You didn't just write it about Bitcoin though. You went on to speak of the whole of crypto "government regulation of money entering or exiting the crypto market will be increasingly likely" What, you think if governments create international conventions to regulate crypto production, they're just going to say, "this is for Bitcoin and Bitcoin only?" Bitcoin has a huge problem right now with carbon production. It needs to fix it. Other, far less well known chains have similar problems that also need to be fixed and also will fall under regulatory action. Bitcoin will be the one that spurs the action, but the action won't just impact Bitcoin. Quote Link to comment Share on other sites More sharing options...
doctor jambo Posted March 31, 2022 Share Posted March 31, 2022 2 minutes ago, Led Tasso said: What, you think if governments create international conventions to regulate crypto production, they're just going to say, "this is for Bitcoin and Bitcoin only?" Bitcoin has a huge problem right now with carbon production. It needs to fix it. Other, far less well known chains have similar problems that also need to be fixed and also will fall under regulatory action. Bitcoin will be the one that spurs the action, but the action won't just impact Bitcoin. You may find that Russian oligarchs using crypto to dissolve and hide assets from sanctions hastens this. governments don’t like people hiding money they want a slice of. they also don’t want things they cannot seize/ tax/ track. it will all tumble down Quote Link to comment Share on other sites More sharing options...
Watt-Zeefuik Posted March 31, 2022 Share Posted March 31, 2022 2 minutes ago, doctor jambo said: You may find that Russian oligarchs using crypto to dissolve and hide assets from sanctions hastens this. governments don’t like people hiding money they want a slice of. they also don’t want things they cannot seize/ tax/ track. it will all tumble down Indeed. I don't think crypto is ever going to completely go away, but continue to be worried about small players getting absolutely hosed when the titans in the exchanges move to protect themselves. Quote Link to comment Share on other sites More sharing options...
IronJambo Posted March 31, 2022 Share Posted March 31, 2022 (edited) 37 minutes ago, doctor jambo said: You may find that Russian oligarchs using crypto to dissolve and hide assets from sanctions hastens this. governments don’t like people hiding money they want a slice of. they also don’t want things they cannot seize/ tax/ track. it will all tumble down The sky will tumble down first. Governments already track and tax crypto with capital gains tax and income tax. Nothing can be hidden on the blockchain. Centralised Exchanges give them all the info they want. They will only have a problem with Decentralised Exchanges. Edited March 31, 2022 by IronJambo Quote Link to comment Share on other sites More sharing options...
spirt of 98 Posted March 31, 2022 Share Posted March 31, 2022 What are peoples thought on XRP? I am holding out for it too moon. Quote Link to comment Share on other sites More sharing options...
Unknown user Posted March 31, 2022 Author Share Posted March 31, 2022 (edited) 6 minutes ago, spirt of 98 said: What are peoples thought on XRP? I am holding out for it too moon. There'll be a boom when whales decide there's a boom, they'll cash in at peak, the market will crash and the cycle will start again. Along the way some coins will come in and go out of fashion, and if you're very lucky you might be holding the right one at the right time, but there's really no way of knowing I reckon Edited March 31, 2022 by Smithee Quote Link to comment Share on other sites More sharing options...
graygo Posted April 1, 2022 Share Posted April 1, 2022 7 hours ago, spirt of 98 said: What are peoples thought on XRP? I am holding out for it too moon. Keep a seat for me, might be a while away right enough. 😎 Quote Link to comment Share on other sites More sharing options...
spirt of 98 Posted April 1, 2022 Share Posted April 1, 2022 10 minutes ago, graygo said: Keep a seat for me, might be a while away right enough. 😎 You think it will happen in nice the court case is over. some wild predictions highest I’ve heard is 35k a coin. Which seams too much. I’d settle for 10 dollars Quote Link to comment Share on other sites More sharing options...
The Mighty Thor Posted April 1, 2022 Share Posted April 1, 2022 13 minutes ago, spirt of 98 said: Some wild predictions highest I’ve heard is 35k a coin. Which seams too much. I’d settle for 10 dollars It may well go up but to get top $8 a coin it would need to grow to a bigger market cap than Ethereum. If it get's anywhere near $2.50 i'd be out as that'll likely be as good as it gets. *******Not Financial Advice******* Quote Link to comment Share on other sites More sharing options...
Craig_ Posted April 1, 2022 Share Posted April 1, 2022 10 hours ago, spirt of 98 said: What are peoples thought on XRP? I am holding out for it too moon. I had a decent stash of XRP once upon a time. Sold most of it when the SEC lawsuit was announced, as it was clear that it would go on for years. Reckon it could go either way, either it's going to be part of the fabric of the global financial system or it'll slowly die. Odds are about 50:50 at the moment IMO. Quote Link to comment Share on other sites More sharing options...
IronJambo Posted April 1, 2022 Share Posted April 1, 2022 16 hours ago, spirt of 98 said: What are peoples thought on XRP? I am holding out for it too moon. I sold mine as I couldn't see it accumulating as much as I'd like and there's plenty of other tokens/coins to choose from. I think I bought and sold at $1.20. I personally think it could reach around $20 but it's a long way off and it would have been a mammoth wait for a 20x. Quote Link to comment Share on other sites More sharing options...
spirt of 98 Posted April 2, 2022 Share Posted April 2, 2022 I’ve been hearing that the end of the SEC case is 30-90 days away with XRP ripple now odds on to win. This is when it will Moon or so folk are saying. Quote Link to comment Share on other sites More sharing options...
spirt of 98 Posted April 2, 2022 Share Posted April 2, 2022 Am in till the case end and see where it goes. Hopefully it rockets. Quote Link to comment Share on other sites More sharing options...
Watt-Zeefuik Posted April 3, 2022 Share Posted April 3, 2022 Quote Link to comment Share on other sites More sharing options...
Greedy Jambo Posted April 11, 2022 Share Posted April 11, 2022 Quote Link to comment Share on other sites More sharing options...
Selkirk_Jambo Posted May 11, 2022 Share Posted May 11, 2022 Soooooo.... Going well 😂 Quote Link to comment Share on other sites More sharing options...
The Mighty Thor Posted May 11, 2022 Share Posted May 11, 2022 Great sale prices. Bargains galore to be had. 👍 Quote Link to comment Share on other sites More sharing options...
dobmisterdobster Posted May 11, 2022 Share Posted May 11, 2022 Buy the dip Quote Link to comment Share on other sites More sharing options...
SwindonJambo Posted May 11, 2022 Share Posted May 11, 2022 18 minutes ago, dobmisterdobster said: Buy the dip I wouldn't jump too soon. Cryptos and the wider stock market are in for a rough ride with inflation and higher interest rates. The SP500 is back below 4,000. Lots of observers are predicting further falls. You can always find a new bottom ...😳 Quote Link to comment Share on other sites More sharing options...
Watt-Zeefuik Posted May 11, 2022 Share Posted May 11, 2022 1 hour ago, SwindonJambo said: I wouldn't jump too soon. Cryptos and the wider stock market are in for a rough ride with inflation and higher interest rates. The SP500 is back below 4,000. Lots of observers are predicting further falls. You can always find a new bottom ...😳 Particularly for a pure commodity with no use value and no managing agency to stabilize its value. A few bitcoin used to buy a pizza. It could end up back there again. Quote Link to comment Share on other sites More sharing options...
hughesie27 Posted May 11, 2022 Share Posted May 11, 2022 37 minutes ago, Led Tasso said: Particularly for a pure commodity with no use value and no managing agency to stabilize its value. A few bitcoin used to buy a pizza. It could end up back there again. Here's hoping. Quote Link to comment Share on other sites More sharing options...
SwindonJambo Posted May 11, 2022 Share Posted May 11, 2022 44 minutes ago, Led Tasso said: Particularly for a pure commodity with no use value and no managing agency to stabilize its value. A few bitcoin used to buy a pizza. It could end up back there again. Indeed and it would probably be no bad thing. A poorly regulated intangible commodity with a ludicrously inflated price, even still. There will be a hit to the wider market too, especially Tech Stocks. The Nasdaq is down nearly 30% in 6 months. Quote Link to comment Share on other sites More sharing options...
Unknown user Posted May 12, 2022 Author Share Posted May 12, 2022 Is it now is it? Quote Link to comment Share on other sites More sharing options...
Watt-Zeefuik Posted May 12, 2022 Share Posted May 12, 2022 2 hours ago, SwindonJambo said: Indeed and it would probably be no bad thing. A poorly regulated intangible commodity with a ludicrously inflated price, even still. There will be a hit to the wider market too, especially Tech Stocks. The Nasdaq is down nearly 30% in 6 months. It's going to absolutely destroy the lives of people who got tempted into the frenzy and now have huge amounts of their savings invested in a funny web of prime numbers. And I feel like there's so much sunk in it emotionally for some people that we're going to go through a few more rotations of this with whatever comes after NFTs as people desperately look for the Crypto Thing That's Actually Going To Stick. The main thing I hope is that Bitcoin crashes hard enough to shut down the giant carbon spewing mining operations and sends a fair few of the megaminers into bankruptcy. If anyone's going to get soaked in all this, I hope it's them. Quote Link to comment Share on other sites More sharing options...
A Boy Named Crow Posted May 14, 2022 Share Posted May 14, 2022 My friends are growing avocados, I'm thinking about growing turnips. When the economy collapses, we'll be kings! Quote Link to comment Share on other sites More sharing options...
doctor jambo Posted May 14, 2022 Share Posted May 14, 2022 On 12/05/2022 at 03:11, Led Tasso said: It's going to absolutely destroy the lives of people who got tempted into the frenzy and now have huge amounts of their savings invested in a funny web of prime numbers. And I feel like there's so much sunk in it emotionally for some people that we're going to go through a few more rotations of this with whatever comes after NFTs as people desperately look for the Crypto Thing That's Actually Going To Stick. The main thing I hope is that Bitcoin crashes hard enough to shut down the giant carbon spewing mining operations and sends a fair few of the megaminers into bankruptcy. If anyone's going to get soaked in all this, I hope it's them. It won’t be , it will be the little people, it always is. The one thing I don’t get is why governments around the world allowed this to happen. An entirely unregulated currency used in crime, drug dealing money laundering etc and did nothing to clamp down on it as a hazardous financial market. What am I missing ? Quote Link to comment Share on other sites More sharing options...
escobri Posted May 14, 2022 Share Posted May 14, 2022 50 minutes ago, doctor jambo said: It won’t be , it will be the little people, it always is. The one thing I don’t get is why governments around the world allowed this to happen. An entirely unregulated currency used in crime, drug dealing money laundering etc and did nothing to clamp down on it as a hazardous financial market. What am I missing ? A lot of little people have made loads on crypto on its rise up, play at your own risk,no doubt the market makers are abusing it now though and it will be interesting how it rebounds, still hovering about $30k which is still historically high. Coin I want to buy but can't has just gone up over 2000%. 😪 Quote Link to comment Share on other sites More sharing options...
Masonic Posted May 29, 2022 Share Posted May 29, 2022 LTC & Solana both available at great discount prices for the long term investor Quote Link to comment Share on other sites More sharing options...
Sooperstar Posted May 29, 2022 Share Posted May 29, 2022 Discount prices FFS. There a sale on aye? Quote Link to comment Share on other sites More sharing options...
Masonic Posted May 29, 2022 Share Posted May 29, 2022 6 minutes ago, Sooperstar said: Discount prices FFS. There a sale on aye? obviously look at the graphs LTC all time high is $380-400 from last year trading at $64 today Quote Link to comment Share on other sites More sharing options...
Sooperstar Posted May 29, 2022 Share Posted May 29, 2022 2 minutes ago, Masonic said: obviously look at the graphs LTC all time high is $380-400 from last year trading at $64 today Easy game this Crypto investing by the sounds of it. Price used to be higher? Buy. Free money. Quote Link to comment Share on other sites More sharing options...
Watt-Zeefuik Posted May 30, 2022 Share Posted May 30, 2022 Not sure if this has been mentioned before, but the "Web3 is going just great" website is really astounding. She tracks scams, rug-pulls, implosions, and other sorts of funny business on Twitter meant to part ordinary people from their money as quickly as possible. Just in the ones she's directly documented on the site, it's now almost $10 billion in crytpo-facilitated scams. https://web3isgoinggreat.com/ Quote Link to comment Share on other sites More sharing options...
IronJambo Posted May 30, 2022 Share Posted May 30, 2022 2 hours ago, Led Tasso said: Not sure if this has been mentioned before, but the "Web3 is going just great" website is really astounding. She tracks scams, rug-pulls, implosions, and other sorts of funny business on Twitter meant to part ordinary people from their money as quickly as possible. Just in the ones she's directly documented on the site, it's now almost $10 billion in crytpo-facilitated scams. https://web3isgoinggreat.com/ Did you lose your life savings in crypto or something? Quote Link to comment Share on other sites More sharing options...
Watt-Zeefuik Posted May 30, 2022 Share Posted May 30, 2022 13 hours ago, IronJambo said: Did you lose your life savings in crypto or something? Nope, I know people who've lost their life savings in scams that were half as dangerous. Quote Link to comment Share on other sites More sharing options...
IronJambo Posted May 30, 2022 Share Posted May 30, 2022 1 hour ago, Led Tasso said: Nope, I know people who've lost their life savings in scams that were half as dangerous. You speak like all crypto is a scam. Like it or not, it's the future. Blockchain will be invaluable. We base our money on gold reserves. Lumps of metal 🤦. Lumps of metal props up our economy because we were told it's valuable, get your head around that. Quote Link to comment Share on other sites More sharing options...
MoncurMacdonaldMercer Posted May 30, 2022 Share Posted May 30, 2022 12 minutes ago, IronJambo said: You speak like all crypto is a scam. Like it or not, it's the future. Blockchain will be invaluable. We base our money on gold reserves. Lumps of metal 🤦. Lumps of metal props up our economy because we were told it's valuable, get your head around that. ru still doing football bets mate ? the betting thread seems to have been pulled nanny state kickback 😡 Quote Link to comment Share on other sites More sharing options...
IronJambo Posted May 30, 2022 Share Posted May 30, 2022 (edited) 7 minutes ago, MoncurMacdonaldMercer said: ru still doing football bets mate ? the betting thread seems to have been pulled nanny state kickback 😡 No way! That's a dull one 😱 Nah, not been near it since the start of the first lockdown. Was taking £1200 a month from paddy power for nearly two years but covid changed it and I'd only be banking £400pm if I was still at it. I Could diversify but I don't really have the time or the will. I've put a good chunk into crypto, it's my new "hustle". Edited May 30, 2022 by IronJambo Quote Link to comment Share on other sites More sharing options...
Unknown user Posted May 30, 2022 Author Share Posted May 30, 2022 35 minutes ago, IronJambo said: You speak like all crypto is a scam. Like it or not, it's the future. Blockchain will be invaluable. We base our money on gold reserves. Lumps of metal 🤦. Lumps of metal props up our economy because we were told it's valuable, get your head around that. We don't. I agree Blockchain technology will inevitably be used in fiat currency but unregulated currencies that governments don't control will never fully take off IMO. Being unregulated means it's completely volatile, as we've seen multiple times. If it's volatile and has a value that can be dictated by coordinated whale action then it's never going to be currency. It's a commodity, no one buys stuff with cryptocurrency Quote Link to comment Share on other sites More sharing options...
IronJambo Posted May 30, 2022 Share Posted May 30, 2022 (edited) 33 minutes ago, Smithee said: We don't. I agree Blockchain technology will inevitably be used in fiat currency but unregulated currencies that governments don't control will never fully take off IMO. Being unregulated means it's completely volatile, as we've seen multiple times. If it's volatile and has a value that can be dictated by coordinated whale action then it's never going to be currency. It's a commodity, no one buys stuff with cryptocurrency Blockchain isn't just going to be used in currencies, it's far bigger than that. And we can refer to them as currencies all we want but I'm pretty sure it's becoming an alternative to owning shares instead. Many cryptos are starting to mix it with real life use purposes and it's that mix that's interesting. It's still in its infancy but I think a huge percentage of them will die away when any kind of regulation comes in and it'll leave those in the space that have an actual use. Those that are just a token for the sake of being will just disappear. Them on the other hand that have launched as a crypto as an alternative to getting a bank loan or crowd funding because they have a real business will be left shining standing shoulder to shoulder with non crypto businesses. The latter is folly though as there probably isn't a large business out there that hasn't already got involved in crypto at some level. Edit: and yes, people do already use crypto to buy things. It's not hard to find a crypto debit card. All they have to do is swap their crypto to fiat in the CEX and it's there to spend. No bank account needed. In terms of being anonymous it's not that useful through a CEX, but a different story if it was a DEX. Edited May 30, 2022 by IronJambo Quote Link to comment Share on other sites More sharing options...
escobri Posted May 30, 2022 Share Posted May 30, 2022 Prices shooting up today 🤑, anyone signed up to pi network?, I was sent a link but not sure about it. Quote Link to comment Share on other sites More sharing options...
MoncurMacdonaldMercer Posted May 30, 2022 Share Posted May 30, 2022 1 hour ago, IronJambo said: No way! That's a dull one 😱 Nah, not been near it since the start of the first lockdown. Was taking £1200 a month from paddy power for nearly two years but covid changed it and I'd only be banking £400pm if I was still at it. I Could diversify but I don't really have the time or the will. I've put a good chunk into crypto, it's my new "hustle". Yeah I can’t find the betting thread anymore got to move with the times I suppose - I’m a dinosaur tho - moving to the exchanges is as bold as I’ve got Quote Link to comment Share on other sites More sharing options...
Unknown user Posted May 30, 2022 Author Share Posted May 30, 2022 53 minutes ago, IronJambo said: Edit: and yes, people do already use crypto to buy things. It's not hard to find a crypto debit card. All they have to do is swap their crypto to fiat in the CEX and it's there to spend. No bank account needed. In terms of being anonymous it's not that useful through a CEX, but a different story if it was a DEX. That's not using it as a currency to buy things, that's being able to quickly turn it into a currency to buy things. It's still a commodity that you have to turn into currency. I've seen so many white papers that promised this and that, invested in some too. I mind one that planned to buy a small bank to legitimise and allow joint fiat and crypto accounts, they had an agreement in place to buy one somewhere. Then the Germans announced no one will do business with this bank if the deal goes through and that was that. Cryptocurrency is interesting and all that but for all even I'm taking about "Blockchain Technology", all it really is, is a shared, and therefore easily verifiable and theoretically secure, ledger of transactions. It'll be relatively easy to integrate it into fiat ledgers, it's probably been done already. But crypto's just a commodity, and a virtual one at that. Money can still be made with it of course, so good luck with it. Quote Link to comment Share on other sites More sharing options...
Unknown user Posted May 30, 2022 Author Share Posted May 30, 2022 2 hours ago, IronJambo said: I've put a good chunk into crypto, it's my new "hustle". Just be careful mate, it was my new hustle when I started the thread 4 and a half years ago too! Quote Link to comment Share on other sites More sharing options...
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