Is anyone else starting to become a bit worried? mod note in first post

Gerald Obedient Manicurist wrote: »

This thread used to be interesting..

When the market wasn’t tanking and everyone was just buzzed up about their crypto portfolios and latest ico’s?

Gerald Obedient Manicurist wrote: »

No no literally up until yesterday before all the petty arguments over Blockchain

Would yo be more interested in crypto as a currency, as a store or wealth, block chain tech or all three?

Sleeper12 wrote: »

It already has for the most part.

I'm aware of the decrease in the use of cash with (mainly) credit and debit card systems taking up the slack. However, to the point I originally made, many central banks around the world are looking at developing their own central bank digital currency (CBDC).

Are you suggesting that some jurisdiction is going to remove cash and run with credit / debit cards across the board?

JJJJNR wrote: »

My models are suggesting a sharp decline to 1200 to 1500.

Are you models usually accurate? Is it down to tether scam untangling? Sellers liquating crypto? Hard forks?

Genuine interest not being smart arse

makeorbrake wrote: »

It could take some time yet but cash will go, yes.


Depends. If they (Central Banks and the governments behind them) put a full court press on decentralised crypto, I wouldn't like that...although that could backfire on them. Very hard to say right now. I don't like the idea of a government having the ability to switch off your access to funds in an instant (when they're your funds) in the same way as I don't like it right now when it comes to banks/governments in relation to savings/wealth stored on the centralised banking system. I don't like the idea of a government being able to financially surveil people - which they can do with every single transaction on a CBDC.

You do come across a bit conspiracy theory-esque, like federal government hating right wingers in America.

Also it’s the state not the government who would do the financial survailling if your theory arose. Governments come and go fortunately enough!

TallyRand wrote: »

But who is the “we” you refer to? Are you a block chain developer or involved in the banking or travel industry both you highlighted above?

And why are you so adamant about keeping the ordinary punter out of it? Is that a widely held blockchain group think or just your own belief? Just weird seems as the ordinary punter will unknowingly enjoy all the benefits from block chain and also help keep the sideshow coin market liquid, up until now

Are you much more in the know about price swings compared to the ordinary punters who bought high and sold low as you said?

I don't have to be in the financial industry to know the repercussions it's having, I have a friend who's fairly high up with wechat and we talk as friends do. I don't have to be deep into the travel industry chain when I hear that the number one firm wants to launch their product fully on ethereum, I don't have to be deep into messanging apps to know wechat or telegram are at it (it was at a festival I was at with that wechat guy where his manager announced wechat's involvement in a certain deal and the excitement was crazy and this was over a year ago - his shares are worth 10% what they once were but this guy is buying them up and the people who didn't believe in that division either made a wedge from nothing or they'll consider themselves ****ed in five years.

Hedge bets. Some in that company don't see a future in owner-security or sovereignty and don't see the point in shepherding people towards it, others do. Some'll make money from it, others won't, doesn't make a difference in the big picture. I could get REKT tomorrow. Doesn't make a difference, I just have to switch boats. It's not a big deal. Party mentality in crypto is a huge problem, much worse than American politic bullshít. I have no idea why it happens beyond control politics but it happens.

Pintman Paddy Losty wrote: »

Hohoho that is some spanking ETH is after taken today. An absolute bloodbath. I thought ETH was the one that had all the future uses and massive teams of developers with exciting future applications. Seems the market is disagreeing.

I genuinely hope it drops to $10 again. The market for buying ****coins is much less than the liquid market for devs, what a surprise that the price goes down. Seriously, it was 10$ 2 years ago. An AMAAAAAAAAAAAAAAAAAAAAAAzing return on the stock market from two years ago would be ETH reaching $12 again. Give. It. To. Me. I'd honestly be delighted.

makeorbrake wrote:

I'm aware of the decrease in the use of cash with (mainly) credit and debit card systems taking up the slack. However, to the point I originally made, many central banks around the world are looking at developing their own central bank digital currency (CBDC).

Developing their own digital currency? You've given another reason not to buy bitcoin or any currency on the market right now.

Franz Von Peppercorn wrote: »

We’ve had digital currencies for decades. Most of the money supply is digital. What exactly are you talking about?

And digital/electronic money is not bitcoin or block chain.

The entire novelty around bitcoin and why we value it is because we can verify truth without trusting a third party.

Do that with PayPal.
"But I trust the third party"
"But I trust X company"
"But I trust X government"
"But I...don't know what to trust any more."

Seriously - if you trust all of those things more than a decentralised source, continue to do so. Don't force us to. I consider maths more trustworthy than rando plebs on boards or barely-there commenters, funnily enough.

The current monetary supply is not maintained or verified, it's bestowed and accepted like a dowry.