Any asset backed by faith fails when faith is gone. The PTB have been controlling faith for thousands of years. Thinking that crypto is beyond their reach is the ultimate naivety. They own all the money in the world (literally, its theirs). They use the crypto market as a pump and dump for stock market manipulation. It's all theirs.
Having said that, I think that crypto absolutely will be the currency of the future, but not one backed by faith. At some point we will have the infrastructure for asset backed cryptocurrencies. There are fledgling companies that provide such a system with limited exchange now (like Kinesis). Stocks are an obvious path to create an asset backed crypto. The stock market will almost certainly become a crypto market in the not too distant future. Gamestop is already showing the way, though it hasn't yet gone full "stocks as crypto" yet.
At some point the system of fiat currency will fail completely. Once the game is fully exposed, and people really understand what it is, and what it's for, no one will want anything to do with it. The entire crypto market could easily crash completely before that reveal (it is owned by the PTB despite everyone's protest that it is beyond their reach), but even if it survives to the Fiatpocalypse, it won't last past it.
All of the crypto's in use today (except those few backed by an asset) are not assets. It can't be stated more simply than that. Btc et al is not an asset. It has no value except what other people believe it does. Only real assets are reasonable long term investments. Anything else is just trading one fraud for another.
Once again I agree with you Slyver. The period of transition between fiat system and another (even gold backed) might be through crypto as we see it now but I expect deep correction and last bull trap pump before it happens.
Personally, i'd take your profits from ADA and move on. It's nothing more than a hype coin with empty promises. Charlie is all words with little to no action.
What's your current APY? Have you looked into Algo's APY for auto-staking and governance? Soon you will also be able to double-dip once the first movers DeFi platform projects are launched being AlgoFi, AlgoMint, and AlgoDEX. You can also use Tinyman AAM or Yieldly right now to double-dip in liquidity pools and additional staking.
Not a problem! And as much as I dislike reddit, Algorand's official sub r/AlgorandOfficial is a great place to find more information. The community sub r/Algorand has some good information at times, but currently being spammed by people shilling their ASA coin creations. That fad will soon die off, and seems to be in the process already.
Look at what they promise is coming, and then look back a few years with the same promises and no results. Most everything is still in the works, and I feel it's going to stay that way. Charlie is too busy talking everyday about what ADA is going to be, instead of implementing his words into the project. It's been a few years with little to no progress.
So you do think the new banking system will go through? I have a little ALGO and XRP, but was thinking, if the central bank is taken down, what happens to those projects?
The world is still going to need a banking system. It'll be much easier revamping what we have, than rebuilding a whole new entity. That of course is if a whole new thing hasn't been worked on quietly the last few years behind the scenes.
my question wasn't based on fear it was posted so I can learn more about crypto, how it works, what other's think of it and how it may or may not be part of the future
I condensed everything I have into BTC and Algo. I'm not quite sure what's going to happen with crypto as a whole, but I feel those two have the greatest chance of survival in the long run.
Did you see that they updated the governance rewards? You can now use P1 rewards to stake during governance P2. That's huge, especially with the TPS upgrade and finality time within the next month or two. I'm also building up a nice bag of Yieldly.
As much as we all hate the china virus passports, Algo is permissionless. I don't hold that against the team as their platform is being utilized for something much bigger than most other projects out there, whether we like a certain project or not.
I agree, I had an ADA bag for some time before I came across Algo. I got tired of waiting, and Algorand is already delivering what ADA is still promising is coming. I sold my entire ADA bag and put it all into Algo last year.
Crypto tech has it's place in the future. But in saying that, I also have a nice bag of DWAC and DWACW and a stack of physical PM that's safe with my boat at the bottom of the ocean.
You're not wrong about what the EO will do, but the DS does not own 100% of every crypto, not even close. This EO is a great thing for crypto and the stock market as it'll remove all the bad actors and their money.
The DS are the ones who manipulate all markets, remove their money, we get a free and fair market back.
I too have physical PM. I truly believe we are going back to the Gold Standard when this is over. Taking away BTC, there is some very good tech built with crypto that can be used world-wide, some is already being implemented as we speak. It's fast, secure, transparent, and much more decentralized than anything we currently have. SWIFT is way outdated tech and needs to be replaced.
Dump...? Why on earth would you want to do that...? Lots of Brilliant projects out there that have real-world use, that actually help people...Fast transactions, low fees, etc....Check out Allbridge(ABR)...Very exciting...
This makes zero sense. The only way they could effectively kill crypto is by also killing the internet. They could all globally ban it, but that's nothing new to crypto people with ban threats, and hasn't stopped us in the past either.
This is because you are not thinking clearly.
What we are looking at is a control grid. Ultimate control. The church of the almighty state. This church has one goal and one goal only: to break your will to be different than they allow you to be.
Kill crypto? they have no such wish. They will incorporate crypto and suck it into their orbit. And you only get to play with it within certain bandwidth and if and when you keep following their rules. As we speak: the crypto sphere is already being sucked in.
I move from the position of the initial source and why it was developed. It needs a couple of things:
its own energy supply.
its own infrastructure for communication.
Solve these two, and no amount of .gov repression can suck it into their orbit. Otherwise, it is easy to see how such dependent systems are bound to be BORG-ed.
It's own energy supply is the same we use daily. And you may be thinking about PoW, which is being shown to be very outdated. PoS is the next big leap in crypto, and is never mined, which is the energy drinker. Algo in particular is net zero in energy usage being PoS, or in their case PPoS. Energy supply with any PoS project is not a concern.
This already exists in the form of nodes. These are not centralized, and the more nodes up and running, the harder it is to attack it.
I'd recommend you dig a little more outside of the shitcoins that get spammed everywhere (not here on GAW) and you will find some great things are coming.
Thank you, but no. I have had my share of wasting my time on a wild goose chase. Energy en infra independence is key. Once you can see that, all falls into place. The same requirements apply to any coin, with or without intrinsic value.
I do agree, some solutions are very interesting from a theoretical point of view. However, more practical and pressing considerations make these solutions hardly the stuff that escapes being sucked into the BORG-orbit.
Allow me to pile on my previous espoused view concerning the infrastructure for communication.
Most critically, because internet service providers (ISPs) ultimately control the transportation layer of the internet, they could discriminate against packets coming from or directed toward a blockchain-based network, effectively tampering with its operations.
Internet governance can therefore have a significant impact on the operations of a blockchain-based network. Particularly relevant in this context is the “net neutrality” debate. The practice of packet discrimination makes it possible for ISPs to favor certain blockchain-based networks, at the expense of others.
Think about what this Harvard Professor Lessig says in terms of control. How do you hinder a product to operate? Logistics and discrimination, deference to law enforcement.
They are trying to figure out when to pop the bubble...they want everyone on top of the trapdoor first
Doesn't help them to pop the millenial and zoomer early adopters whom they incentivized with fomo and tulip mania to go all in with crypto with their boomer and genx parents' money, and are helping them bring about the one world gov...they want to make sure the opposition is invested also
Any asset backed by faith fails when faith is gone. The PTB have been controlling faith for thousands of years. Thinking that crypto is beyond their reach is the ultimate naivety. They own all the money in the world (literally, its theirs). They use the crypto market as a pump and dump for stock market manipulation. It's all theirs.
Having said that, I think that crypto absolutely will be the currency of the future, but not one backed by faith. At some point we will have the infrastructure for asset backed cryptocurrencies. There are fledgling companies that provide such a system with limited exchange now (like Kinesis). Stocks are an obvious path to create an asset backed crypto. The stock market will almost certainly become a crypto market in the not too distant future. Gamestop is already showing the way, though it hasn't yet gone full "stocks as crypto" yet.
At some point the system of fiat currency will fail completely. Once the game is fully exposed, and people really understand what it is, and what it's for, no one will want anything to do with it. The entire crypto market could easily crash completely before that reveal (it is owned by the PTB despite everyone's protest that it is beyond their reach), but even if it survives to the Fiatpocalypse, it won't last past it.
All of the crypto's in use today (except those few backed by an asset) are not assets. It can't be stated more simply than that. Btc et al is not an asset. It has no value except what other people believe it does. Only real assets are reasonable long term investments. Anything else is just trading one fraud for another.
We already have that. See:
Once again I agree with you Slyver. The period of transition between fiat system and another (even gold backed) might be through crypto as we see it now but I expect deep correction and last bull trap pump before it happens.
Personally, i'd take your profits from ADA and move on. It's nothing more than a hype coin with empty promises. Charlie is all words with little to no action.
What's your current APY? Have you looked into Algo's APY for auto-staking and governance? Soon you will also be able to double-dip once the first movers DeFi platform projects are launched being AlgoFi, AlgoMint, and AlgoDEX. You can also use Tinyman AAM or Yieldly right now to double-dip in liquidity pools and additional staking.
Not a problem! And as much as I dislike reddit, Algorand's official sub r/AlgorandOfficial is a great place to find more information. The community sub r/Algorand has some good information at times, but currently being spammed by people shilling their ASA coin creations. That fad will soon die off, and seems to be in the process already.
Look at what they promise is coming, and then look back a few years with the same promises and no results. Most everything is still in the works, and I feel it's going to stay that way. Charlie is too busy talking everyday about what ADA is going to be, instead of implementing his words into the project. It's been a few years with little to no progress.
So you do think the new banking system will go through? I have a little ALGO and XRP, but was thinking, if the central bank is taken down, what happens to those projects?
The world is still going to need a banking system. It'll be much easier revamping what we have, than rebuilding a whole new entity. That of course is if a whole new thing hasn't been worked on quietly the last few years behind the scenes.
That is an interesting strategy away from the propaganda. I do hope you also know when to call it quits.
I just bought a bunch more RVP this morning!! Crypto isn't going away.
The demand for RVP's tech is HUGE!!!! Its the most undervalued coin IMO
https://twitter.com/radioevrazia/status/1468752593090404357?s=20
HODL SHIBA INU!
my question wasn't based on fear it was posted so I can learn more about crypto, how it works, what other's think of it and how it may or may not be part of the future
I condensed everything I have into BTC and Algo. I'm not quite sure what's going to happen with crypto as a whole, but I feel those two have the greatest chance of survival in the long run.
Did you see that they updated the governance rewards? You can now use P1 rewards to stake during governance P2. That's huge, especially with the TPS upgrade and finality time within the next month or two. I'm also building up a nice bag of Yieldly.
As much as we all hate the china virus passports, Algo is permissionless. I don't hold that against the team as their platform is being utilized for something much bigger than most other projects out there, whether we like a certain project or not.
They still don't have a fully working product to implement it, even if they wanted to. It's been the same old story with ADA the last few years.
I agree, I had an ADA bag for some time before I came across Algo. I got tired of waiting, and Algorand is already delivering what ADA is still promising is coming. I sold my entire ADA bag and put it all into Algo last year.
Crypto tech has it's place in the future. But in saying that, I also have a nice bag of DWAC and DWACW and a stack of physical PM that's safe with my boat at the bottom of the ocean.
have a bit of precious metals already... adding to it as I can
Hold it. Nobody knows what's going to happen.
You're not wrong about what the EO will do, but the DS does not own 100% of every crypto, not even close. This EO is a great thing for crypto and the stock market as it'll remove all the bad actors and their money.
The DS are the ones who manipulate all markets, remove their money, we get a free and fair market back.
I too have physical PM. I truly believe we are going back to the Gold Standard when this is over. Taking away BTC, there is some very good tech built with crypto that can be used world-wide, some is already being implemented as we speak. It's fast, secure, transparent, and much more decentralized than anything we currently have. SWIFT is way outdated tech and needs to be replaced.
Kinesis is a great project on the blockchain.
100% spot on...
Dump...? Why on earth would you want to do that...? Lots of Brilliant projects out there that have real-world use, that actually help people...Fast transactions, low fees, etc....Check out Allbridge(ABR)...Very exciting...
I am a gold and real estate guy. Much longer track record and I understand them, whereas I don't totally get crypto.
I'm buying and holding. I need to consolidate my assets more though
You are relying on two things to never fail with crypto and that's the power grid and the internet.
Not saying much more than that is not a safe bet...
Tezos - most decentralized and natively proof of stake.
Pirate Chain for the win ARRR!
(or zcash)
XLM/ BRAVE token. Great performance so far, has a very convincing business model, not just "yep, we're a crypto token".....
DITCH it. it is a trap.
The only way you can avoid it being a trap is:
Now you have solved the two major bottle necks. But then again, it will not be something that is convenient for everybody.
If you cannot hold it, you do not own it!
This makes zero sense. The only way they could effectively kill crypto is by also killing the internet. They could all globally ban it, but that's nothing new to crypto people with ban threats, and hasn't stopped us in the past either.
This is because you are not thinking clearly. What we are looking at is a control grid. Ultimate control. The church of the almighty state. This church has one goal and one goal only: to break your will to be different than they allow you to be.
Kill crypto? they have no such wish. They will incorporate crypto and suck it into their orbit. And you only get to play with it within certain bandwidth and if and when you keep following their rules. As we speak: the crypto sphere is already being sucked in.
I move from the position of the initial source and why it was developed. It needs a couple of things:
Solve these two, and no amount of .gov repression can suck it into their orbit. Otherwise, it is easy to see how such dependent systems are bound to be BORG-ed.
It's own energy supply is the same we use daily. And you may be thinking about PoW, which is being shown to be very outdated. PoS is the next big leap in crypto, and is never mined, which is the energy drinker. Algo in particular is net zero in energy usage being PoS, or in their case PPoS. Energy supply with any PoS project is not a concern.
This already exists in the form of nodes. These are not centralized, and the more nodes up and running, the harder it is to attack it.
I'd recommend you dig a little more outside of the shitcoins that get spammed everywhere (not here on GAW) and you will find some great things are coming.
Thank you, but no. I have had my share of wasting my time on a wild goose chase. Energy en infra independence is key. Once you can see that, all falls into place. The same requirements apply to any coin, with or without intrinsic value.
I do agree, some solutions are very interesting from a theoretical point of view. However, more practical and pressing considerations make these solutions hardly the stuff that escapes being sucked into the BORG-orbit.
I am fine with us disagreeing.
Allow me to pile on my previous espoused view concerning the infrastructure for communication.
https://www.coindesk.com/markets/2018/02/28/no-blockchain-is-an-island/
Think about what this Harvard Professor Lessig says in terms of control. How do you hinder a product to operate? Logistics and discrimination, deference to law enforcement.
Trial balloon post
to gauge how invested Q people are in bitcoin
They are trying to figure out when to pop the bubble...they want everyone on top of the trapdoor first
Doesn't help them to pop the millenial and zoomer early adopters whom they incentivized with fomo and tulip mania to go all in with crypto with their boomer and genx parents' money, and are helping them bring about the one world gov...they want to make sure the opposition is invested also