Crypto in general is too volatile and dependent on fiat currency to have any real value. It's a massive money and energy sink. The technology is useful but too dangerous as a currency.
I think it's hilarious that a GME speculator whose property has been declining all weeks is chiding holders of a coin that quadrupled over the same time period.
(I might also relay that I was directly told by a mod a few weeks ago to not link to my coin of interest, upon threat of expulsion, while nearly every day I see people in here pumping everything else without apparent issues. At least the TSLA fanboys are now gone.)
crypto relies on our internet and power grid infrastructure. it has a HUGE attack surface when you compare it to gold/silver which has been used as "money" literally forever.
You're not supposed to save your private wallet keys on your mobile device any more than you're supposed to stash your gold on a folding table in the front yard.
What high-end equipment do you possess that can tell you the difference between gold and gold-plated tungsten, or a silver-coated non-feric slug coin?
That's a physical "hack", and there are stories out there. (My favorite is the Chinese bank that discovered that its entire bullion inventory was tungsten.)
That house I was able to buy from trading it certainly seems rather tangible. It's definitely not something to go blindly wandering into but if your doing that for any investment your going to lose.
My friend is up a few million profit in some crytpos. He thinks the gravy train will last forever. Nothing wrong making some decent profit but it’s not a long term solution to this corrupt manipulated banking system and constantly inflated fiat currency we have currently. It’s a temporary solution that was borne out of a huge defect which exhibited symptoms.
My friend has more than 100 million. I have to listen to his theories about crypto is the second coming of Christ and squeezing a few thousand a day here and there.
Does it affect me? Nope we have been told money is key to our survival. It is but to a limited extent. The crytpo is an illusion you’ve been taking down the hole with. These wizards who you think are genius designers will sadly be spending time in the slammer soon.
The manipulation of anything is what got us into this mess. Decentralization will free us. Sure as long as you never have to get that bitcoin and convert to fiat you’re good. Anyway this whole shitstorm is almost over. I met many miners in China who made and then lost millions doing their thing.
Ego trips will be so many people’s downfall. We can choose our own path. As far as I know we’re on the same team just perhaps I’m behind your enlightened phases. I’m a slow turtle.
Everything will tank in the next crash because it's an "everything bubble". The only thing that won't crash, relatively, will be the dominant currency at the time, whatever it is, that everyone pours into.
I watched Steve Molyneux podcast so yea have some idea. I love the concept but blockchain isn’t as isn’t as you may think. It’s part of World Economic Forum’s agenda. In China that got that system down to a tee already.
At it's core currency represents work. There has to be meaningful work behind the currency to give it value.
Is it backed by gold, where someone extracted that valuable resource and it is in a prepared state?
Is it backed by the dollar which is supposed to represent the labor of the people and the value that represents.
The biggest red flag about crypto is that it is a market system built for money changers to profit off of almost anonymously. At least the stock market is owning part of a physical, operating business.
You do recognize that the DS s worldwide, right? CB's are worldwide, rght?
So, before going into this territory, you would have to consider the ww implications.
If an asset rises in Dollars, check if it rises with the same amount in EURo.
e.g. Dogecoin €0.203877 +77.7%
SO there is a difference of 50%
Now: check the same thing on a Silver/ Dollar vs spotprices in Euro. You will find when the Silver priice in dollars moves up, it is because either: The Dollar loses value vis a vis the Euro, or the Euro gains value against the Dollar, or a little bit of both.
Say, the federal Reserve note, AKA, Dollar, goes to the level of Indonesian Rupia, it does not mean the Euro will do the same thing. Why is that?
You would have to go back to the beginning of the Euro in 2001. Back then, all particpatng countries (CB's) had to transfer their Currency- and Precious metals holdings to the ECB.
I'm not saying, the ECB does not create fiat like crazy, but less crazy than the FED, however, with a clear confine.
SO, when you look at the exchange rates, it turns out, the levels are more or less in the same relative ballbark. Why is that? Because the system needs to function till the time is right.
It is called elasticity within a bandwidth.
The more we approach this Great Reset moment, the more risky the system becomes due to black swan shocks.
To destroy the deepstate, you would need to destroy the CB's. And that is a lttle more difficult when a CB's is partially funded by PM and currency holdings.
I do like the fact crypto is moving up in several major currencies, especially when the use cases develop to a more mature state, and more people move in to make use of it, because it is better to choose a market oriented solution than the solution proposed by the banks and the CB's, and it diminishes the power these DS-institutions have.
At the same time, for those with debts, especially debts with a fixed % over a longer period of time, the devaluation plays into easier extermination of debt, whereas the underlying asset price may continue to appreciate, depending on when you acquired the asset (pre bubble or during a bubble)
At any rate, keep an eye on a bigger picture, not just dollar centered, or US centered.
Aww, so is cryptoshill butthurt over me mentioning the first time dogecoin scammed their customers into a pumpanddump by lameass hype vids and join-doge-train yapping?
Wonder what all those people won..oh right, empty wallets!
I know, I was there and fortunately didnt buy into the pyramid scam shit.
This time "might" be different, not saying it is, just saying be warned!
ANYONE claiming to know exactly which specific crypto will be the big winner is either a clueless moron, uninformed guesser or outright scamming people into buying "their" particular brand - that is, nothing else then a lame, internet, hyping seller of take-a-chance goods.
Don't be sucked into dogecoin.
It's FUD to distract from GME.
Crypto in general is too volatile and dependent on fiat currency to have any real value. It's a massive money and energy sink. The technology is useful but too dangerous as a currency.
I made about $8k mining etc.
I think right now, given what's going on with GME it's far more likely the doge is being used to distract from the MOASS.
One of the most compelling aspects of holding the GME is just to be part of history in the making!
I think it's hilarious that a GME speculator whose property has been declining all weeks is chiding holders of a coin that quadrupled over the same time period.
(I might also relay that I was directly told by a mod a few weeks ago to not link to my coin of interest, upon threat of expulsion, while nearly every day I see people in here pumping everything else without apparent issues. At least the TSLA fanboys are now gone.)
I held a stock for three years in the red, ended up turning 30% profit on it.
I did really well on Tesla actually, sold at $890.
That, right there, is the key: you SOLD it.
crypto relies on our internet and power grid infrastructure. it has a HUGE attack surface when you compare it to gold/silver which has been used as "money" literally forever.
Hedge your bets across the board. Diversify.
Gold and silver have a "HUGE attack surface" to physical theft.
You're not supposed to save your private wallet keys on your mobile device any more than you're supposed to stash your gold on a folding table in the front yard.
What high-end equipment do you possess that can tell you the difference between gold and gold-plated tungsten, or a silver-coated non-feric slug coin?
That's a physical "hack", and there are stories out there. (My favorite is the Chinese bank that discovered that its entire bullion inventory was tungsten.)
Agree friend, just looking to make that one point in no uncertain terms!
That house I was able to buy from trading it certainly seems rather tangible. It's definitely not something to go blindly wandering into but if your doing that for any investment your going to lose.
My friend is up a few million profit in some crytpos. He thinks the gravy train will last forever. Nothing wrong making some decent profit but it’s not a long term solution to this corrupt manipulated banking system and constantly inflated fiat currency we have currently. It’s a temporary solution that was borne out of a huge defect which exhibited symptoms.
My friend has more than 100 million. I have to listen to his theories about crypto is the second coming of Christ and squeezing a few thousand a day here and there.
Does it affect me? Nope we have been told money is key to our survival. It is but to a limited extent. The crytpo is an illusion you’ve been taking down the hole with. These wizards who you think are genius designers will sadly be spending time in the slammer soon.
The manipulation of anything is what got us into this mess. Decentralization will free us. Sure as long as you never have to get that bitcoin and convert to fiat you’re good. Anyway this whole shitstorm is almost over. I met many miners in China who made and then lost millions doing their thing.
Ego trips will be so many people’s downfall. We can choose our own path. As far as I know we’re on the same team just perhaps I’m behind your enlightened phases. I’m a slow turtle.
I feel you tricked me...haha
Everything will tank in the next crash because it's an "everything bubble". The only thing that won't crash, relatively, will be the dominant currency at the time, whatever it is, that everyone pours into.
Crypto is backed by the same thing that backs the fiat currency, unicorn farts and rainbow stew.
I watched Steve Molyneux podcast so yea have some idea. I love the concept but blockchain isn’t as isn’t as you may think. It’s part of World Economic Forum’s agenda. In China that got that system down to a tee already.
Yep, the would be tyrants love any currency they can make disappear with the push of a button.
Spin up their own currency... Holy shit.
At it's core currency represents work. There has to be meaningful work behind the currency to give it value.
Is it backed by gold, where someone extracted that valuable resource and it is in a prepared state?
Is it backed by the dollar which is supposed to represent the labor of the people and the value that represents.
The biggest red flag about crypto is that it is a market system built for money changers to profit off of almost anonymously. At least the stock market is owning part of a physical, operating business.
Bitcoin is a bubble. It burst before and it will again.
Before you jubilate:
You do recognize that the DS s worldwide, right? CB's are worldwide, rght?
So, before going into this territory, you would have to consider the ww implications.
If an asset rises in Dollars, check if it rises with the same amount in EURo.
e.g. Dogecoin €0.203877 +77.7%
SO there is a difference of 50%
Now: check the same thing on a Silver/ Dollar vs spotprices in Euro. You will find when the Silver priice in dollars moves up, it is because either: The Dollar loses value vis a vis the Euro, or the Euro gains value against the Dollar, or a little bit of both.
Say, the federal Reserve note, AKA, Dollar, goes to the level of Indonesian Rupia, it does not mean the Euro will do the same thing. Why is that?
You would have to go back to the beginning of the Euro in 2001. Back then, all particpatng countries (CB's) had to transfer their Currency- and Precious metals holdings to the ECB.
I'm not saying, the ECB does not create fiat like crazy, but less crazy than the FED, however, with a clear confine.
SO, when you look at the exchange rates, it turns out, the levels are more or less in the same relative ballbark. Why is that? Because the system needs to function till the time is right. It is called elasticity within a bandwidth.
The more we approach this Great Reset moment, the more risky the system becomes due to black swan shocks.
To destroy the deepstate, you would need to destroy the CB's. And that is a lttle more difficult when a CB's is partially funded by PM and currency holdings.
I do like the fact crypto is moving up in several major currencies, especially when the use cases develop to a more mature state, and more people move in to make use of it, because it is better to choose a market oriented solution than the solution proposed by the banks and the CB's, and it diminishes the power these DS-institutions have.
At the same time, for those with debts, especially debts with a fixed % over a longer period of time, the devaluation plays into easier extermination of debt, whereas the underlying asset price may continue to appreciate, depending on when you acquired the asset (pre bubble or during a bubble)
At any rate, keep an eye on a bigger picture, not just dollar centered, or US centered.
doge was once used as a pump and dump pyramid. Smells like these assholes are doing it again.
You enter at your own risk.
Ah so you are here yapping when things happen to go well.
Where were you the last time doge pumped-and-dumped people into losing money?
All silent eh?
Aww, so is cryptoshill butthurt over me mentioning the first time dogecoin scammed their customers into a pumpanddump by lameass hype vids and join-doge-train yapping?
Wonder what all those people won..oh right, empty wallets!
I know, I was there and fortunately didnt buy into the pyramid scam shit.
This time "might" be different, not saying it is, just saying be warned!
ANYONE claiming to know exactly which specific crypto will be the big winner is either a clueless moron, uninformed guesser or outright scamming people into buying "their" particular brand - that is, nothing else then a lame, internet, hyping seller of take-a-chance goods.