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

smacl wrote: »

but never really felt the need to take the piss out of anyone who may have lost of few bob or been down on their luck along the way, for whatever reason. Why would you do that exactly?

Maybe it's the Trump-ian times we live in but in as many days a few guys here trying to justify their bad behaviour because they reckon someone with an interest in crypto has 'sneered' at them or done them wrong. The same guy part of a double act that have called people here idiots for investing in crypto. The same double act that for months has taken up this smarmy, obnoxious piss take here. One of whom had to go rifling through my posts in other sections of boards.ie to make some ill-formed, inaccurate and bad-minded point. The guy has the nerve to go on about people not having respect for him here until the most recent crypto bear market. Just in case he's under any illusions, I simply don't have any respect for him - and it has nothing to do with the market - we could be in the middle of crypt-winter or crypto-summer - makes no odds.

Another one of them suggesting 'whats not to like' as regards it being good entertainment to see someone lose a lot of money and that it's 'hilarious'. The same scrote coming back here and suggesting that he was equally delighted when many people found themselves in a world of financial pain as part of the celtic tiger boom and bust....many who committed suicide, many who are still going through the courts in trying to keep their homes, still trying to deal with the fall-out.

Karma comes round. You lot think for a second that anything good comes from that small-minded, mealy-mouthed mindset - you're the fools.


Then we have a couple others here who couldn't possibly be objective because they have no tolerance of someone or other that was over-exuberant about crypto back at the last ATH. So what? Different people have taken an interest in crypto - many of whom you will never meet as they wouldn't even mention it. You don't carry that intolerance issue(and regardless of whom you encountered, it's your issue, deal with it) into a discussion of the tech and/or investment proposition and maintain objectivity.

JJJJNR wrote: »

I think the troll is real here lads. In comparison when the housing bubble burst I had older generation people outside my house asking when I bought it, basically laughing that the bottom had fallen out of the market and it was worthless..

This is no different, there's a certain demographic in Ireland that like to sneer their way through life. this is a great time in crypto there's plenty of low hanging fruit. I recently put 20 euros on a coin! Some will fail others will fly.

I'm hodl n the house and hope to extend once the building boom has 'another' collapse and prices contract. I won't go on the building forums and laugh at the builders, plumbers etc though. I'll give them work at a good price. I might even upgrade my 14 year car once that collapses.

#notlaughing

You actually had people coming up to your house and laughing at you for the situation you found yourself in?
I find that extremely hard to believe.

To be fair, theres a major difference in buying into a physical asset that you can at the very least live in if prices crash to zero, versus some very hairy "digital" asset that is of absolutely no use to you should the price crash to zero.

Deleted User wrote: »

Lads, ye are forgetting the crypto enthusiasts' mind set last year too, where, basically, you were an idiot if you didn't invest now,, that it was the future of money etc, and was never going to be this price again, and it definitely wasn't a bubble..

I don't buy into this 'crypto-enthusiasts' mindset business. If you met someone this time last year that was in some way obnoxious re. crypto, that doesn't license anyone to be equally obnoxious here or anywhere else.
By the way, lets look at what you describe....If someone was enthusiastic about crypto and believed it was the future of money - and perhaps thought it wasn't a bubble, whats wrong with that? That doesn't license that reprehensible scrote posting 4 places about yours to express that he's delighted to see people losing money in crypto or in the celtic tiger boom and bust.
As regards being called an idiot, if someone did that, they dont speak for anyone else in crypto and it shouldnt colour any conversation about crypto investment and/or the tech. On that point, who here has called you or those that share your view an idiot for not investing????? ...because we have at least one confirmed case here of the opposite scenario.

BrownFinger wrote: »

Sure who’s in it for the money anyway?
It’s all about the technology..........

Is there a point to your post as this is an investment forum. Clearly, people are not going to expose themselves to the risk of a volatile investment without the express intention of there being an upside. As regards the tech, how would you have a conversation about the investment when the tech is the guts of what you're investing in?

crushproof wrote:

Well I can look back on this as a big mistake and a terrible investment. Took a small bit out for a holiday previously but what I've left in crypto has plummeted and I've given up on it.

I'm sorry if you lost money. Any investment where you lose money is effectively a bad investment. When did you buy in?

crushproof wrote:

I listened in to that Radio 1 segment, absolute nonsense, of course they lost money. Must be so many folk around the country cursing their luck. It is what it is, everyone wants more and more and more!

Not necessarily. I quit my job and moved abroad. On the people wanting more and more, of course - greed is part of human nature. Everyone understands that it's a highly volatile investment so with that comes personal responsibility for ones own decisions.

JJJJNR wrote: »

I agree, but for example there is a real world case for freedom of speech, we are losing the right of expression through the guise of censorship, decentralised systems rewarding participation through cryptocurrency while doing away with censorship are required. I've bought 1000s of coins from one particular project because I believe a system like this needs to be developed. it's already in progress and new iterations of the systems around this reward system are being released all the time. Look at youtube censorship things are changing rapidly in society. Not every digital asset is dodgy.

That's true and it can be good to back something you believe in

But from a cold mathematical, financial, etc point of view -

• There is little regulation so the devs of the project may just exit scam and make your holdings worthless
• The market is highly volatile and irrational which may also reduce the value of your holdings
• The coin itself could have a technical bug/exploit which renders it worthless
• There's likely nothing backing the coin, you aren't legally entitled to a share of the company behind the coin, you aren't legally entitled to e.g. interest payments, dividends, etc
• Another company could take over the coin and refuse to honour rewards related to the coin
• The coin itself was likely created out of nothing with an artificial scarcity, meaning it's value is entirely market related, meaning it can just as easily go back to zero
• International regulation regarding the coin, or it's type or cryptos in general could render it almost value-less immediately

Or it could be a "successful project", fulfilling it's goals, you are happy with the product and as a bonus the coin and your original holding goes up 100x in value on the speculative secondary market. Regardless of whether someone believes that it has a future or not, the money that can be cashed out is very real

kaymin wrote:

I disagree. Some people are more financially literate than others and the cheerleaders on this and other threads have a certain amount of responsibility.

There is no singular view being expressed here. However, I don't agree with your point. A less financially literate person could just as easily lose their shirt in futures, forex, day trading, etc. A grown adult is a grown adult - and with that comes responsibility.
And to cap that point off, I am not of the opinion that anyone is giving financial advice here. Perhaps someone did (did they??). I certainly have not. I think if you were to run a search on the thread, you'd find many hits on 'do your own research (DYOR)' AND 'don't invest what you can't afford to lose' AND 'high risk investment'.

kaymin wrote:

I recall back in January a poster on the alt coin thread stressing when the price fell to his break even point and he was worried what direction it might take next. When I said longterm it's going to zero / short-term - who knows, i got alot of abuse from the likes of rapul and many others who continuously harped on about why I shouldn't be posting on the thread.

Look, you'll have to take that up with Rapul. I'm not familiar with that interaction in a thread of 2600 plus posts.
However, I will say I have no issue whatsoever with someone expressing the view that a coin or all coins are going to zero. They may well be right. In theory it should make for a better discussion so long as people remain objective.

kaymin wrote:

It's ironic how you can't abide having cryptocoins called a pyramid scheme when you made out like a bandit leaving others holding and nursing heavy losses.

Of course I can't abide people calling crypto a pyramid scheme as it's not a pyramid scheme. It's a very risky investment class. Are we going to go back down this road again? A pyramid scheme has to be contrived centrally. Who dreamed up the scheme?
You allege that 'I made off like a bandit' - so presumably you think I did? There's no logic in that. Far from logic, your view is just plain wrong. Accept it and move on.

kaymin wrote:

leaving others holding and nursing heavy losses.

The way you've weaved that into the sentence, you're implying that I stole from others ..more or less. Where is that coming from? I don't want to see anyone lose money (unlike a couple here who hold the same viewpoint as you). Decentralised cryptocurrencies don't have a head office. There is no marketing team pimping something up to them. Other than that, people make their own decisions.

This happens all the time - markets (every conceivable type of market) goes up and down and some end up on the right end of that and some don't. Yet, I don't see any of the detractors here complain about day traders (that make off like bandits...on the occasions when they do), forex traders (the proportion of whom that 'make off like bandits'), etc.
What was your view re. the conventional market crash in 2008? There was a transfer of wealth there, right? I'd be interested in hearing that view because we are overdue another correction - some say its close but then there is ongoing speculation as regards the timing although hardly anyone suggests it will never happen.
This 2018 bear market generally will see a transfer of wealth from retail investors to the institutions. You may believe that this is where crypto ends but crypto has been here many times before. Remember that when you see crypto climb back up in 6, 12 or 18 months (and no, that's not to be interpreted as investment advice!).

Perhaps its a generational thing - but my understanding has always been that I am responsible for my own actions. Now if there's fraud involved and I suffered a loss on that basis, I would seek recourse. If I sought professional advice and it was wayward to the point of being negligent, I would seek recourse.

kaymin wrote:

And yet here you are, still promoting.

And once again, you're absolutely wrong. My interest here is to discuss and learn. Whilst I've always maintained that the contrarian view is healthy, I'm sorry but there are a few here who should be posting in after hours. Apparently there's a crypto thread there - I have not visited as that's not my bag. Apparently, many of those that I'm alluding to have posted there (from what they've stated here) and recently we had one guy come back and correct himself in his assertion on the basis that he had forgotten this thread was not in after hours (suggesting that what he had posted would have been alright had it been the after hours thread).

I have not 'promoted' jack. In fact, if it wasn't for people taking this conversation down a non-objective cul-de-sac - there might be more to be learnt for us all. I can give you multiple examples but lets take one more recent. Scroll back a couple of pages to an exchange I had with grindle - where we both were critical of various crypto projects. How in the name of God am I 'promoting'.

JJJJNR wrote: »

https://www.irishexaminer.com/ireland/decision-to-raid-pension-fund-met-with-caution-80174.html

Really, don't waste your time. He doesn't know what he's talking about. He clearly doesn't know why a bank guarantee had to be put in, the 47% haircut Cypriots took on their savings, the 10% haircut Greeks took on their savings (above 100k) - and countless examples around the world as a result of failed banks and failed governments. He also doesn;t know why the 100k guarantee wouldnt have meant jack if the euro had failed.
He's posting in a cryptocurrency investment forum where he doesn't even know what triggered the emergence of bitcoin (the 2008 global financial crisis as a result of the shenanigans of the banks - bailed out at the expense of the taxpayer - worldwide).
The haircut we took on our pensions, the 10k per capita debt that we are all saddled with into the future.