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

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Comments

  • #2942
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    dickface wrote: »
    One bit of good investing advice in the crypto forum, a lot better than Hive thread anyway
    😺😺😺

    Imagine spending your whole weekends telling strangers on the internet you don't believe in a certain technology.


  • #2943
    [Deleted User]
    Posts: 17,378 ✭✭✭✭ [Deleted User]


    dickface wrote: »
    One bit of good investing advice in the crypto forum, a lot better than Hive thread anyway
    😺😺😺

    Hope you're not being serious. Shorting a highly volatile asset is not a realistic thing that someone is going to do because they think bitcoin will continue to fall.

    You can predict a downward trend but not the mad swings along the way. Bitcoin is incredibly risky in that regard. You may as well be over in /r/wallstreetbets.

    "Put your money where your mouth is, oh and you might get short squeezed and lose everything, even though you guessed the trend correctly."


  • #2944
    [Deleted User]
    Posts: 17,378 ✭✭✭✭ [Deleted User]


    Grumpypants wrote: »
    Circle CEO said there was $24 BILLION of institutional money invested in 2018, in the middle of the demise of crypto. Sounds like someone is still interested.

    A quick Google shows that figure to be trade volume. You should edit your post since it's false.


  • #2945
    Grumpypants
    Registered Users, Registered Users 2 Posts: 8,234 ✭✭✭Grumpypants


    [Deleted User] wrote: »
    A quick Google shows that figure to be trade volume. You should edit your post since it's false.

    No need, everyone knows what it means. People are interested in bitcoin.


  • #2946
    makeorbrake
    Registered Users, Registered Users 2 Posts: 4,676 ✭✭✭makeorbrake


    Deleted User wrote: »
    "Put your money where your mouth is, oh and you might get short squeezed and lose everything, even though you guessed the trend correctly."
    That brings me to Option C: If you don't have the bálls for it, then twaddle off.
    Deleted User wrote: »
    A quick Google shows that figure to be trade volume. You should edit your post since it's false.
    Let me be as obnoxious as you were =>
    That had me rolling around the floor laughing hysterically.

    Imagine saying that OTC volume is 'false' and suggesting it's irrelevant! It's highly significant as OTC money is likely to be far savvier than retail.


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  • #2947
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Lads, for God's sake..


  • #2948
    grindle
    Registered Users, Registered Users 2 Posts: 6,026 ✭✭✭grindle


    Deleted User wrote: »
    Lads, for God's sake..

    Our thoughts exactly?


  • #2949
    rapul
    Registered Users, Registered Users 2 Posts: 1,040 ✭✭✭rapul


    Another dip today, after getting some more ethereum and Tron personally, will more than likely just keep adding bits on in the dips everytime, hard to tell which way its all gonna go, long game for me still though.


  • #2950
    LoLth
    Registered Users, Registered Users 2 Posts: 10,339 ✭✭✭✭LoLth


    Mod Note

    In the last 4 days there have been quite a few new faces posting that just seem to want to re-hash old arguments.

    There is a thread in AH that is open to all opinions and has a posting style that you may find more suitable. This forum is for posting about cryptocurrencies and blockchain as part of an investment market. It is NOT there to discuss the habits or veracity of the technology itself. The members that post here are entitled to a forum where they can discuss their interest without ridicule or sneering smarm or just straight out trolling.

    Learn how to respect your community and fellow posters or feck off and post somewhere else please.


  • #2951
    [Deleted User]
    Posts: 17,378 ✭✭✭✭ [Deleted User]


    So one poster says "people know what I mean" after making an unbelievable mistake between investment and trade volume.

    Another poster challenges disbelievers to short highly volatile assets or basically shut up. If I don't have the balls to risk 100% of my investment, I shouldn't have an opinion.

    The mod comes in and saves the day from rational conversation, in a thread about feeling worried about the coin.


    I only found out about this place again, or if ever, recently, and honestly, it's the lowest level of crypto talk I've ever seen. Unfollowing the thread so you can have your safe space.


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  • #2952
    el diablo
    Registered Users, Registered Users 2 Posts: 5,782 ✭✭✭el diablo


    Deleted User wrote: »
    So one poster says "people know what I mean" after making an unbelievable mistake between investment and trade volume.

    Another poster challenges disbelievers to short highly volatile assets or basically shut up. If I don't have the balls to risk 100% of my investment, I shouldn't have an opinion.

    The mod comes in and saves the day from rational conversation, in a thread about feeling worried about the coin.


    I only found out about this place again, or if ever, recently, and honestly, it's the lowest level of crypto talk I've ever seen. Unfollowing the thread so you can have your safe space.


    Adios.

    Orange pilled.



  • #2953
    grindle
    Registered Users, Registered Users 2 Posts: 6,026 ✭✭✭grindle


    It's weird, he seems like a normal guy in other forums but then:
    Deleted User wrote: »
    The mod comes in and saves the day from rational conversation, in a thread about feeling worried about the coin.
    How could he think "I don't like it, it's a ponzi" is a rational conversation? There's no reasoning whatsoever going on and judging from the lack of depth the newer posters have shown it seems they think every project is a Bitcoin clone.
    It'd be amazing if a test on the basics was a requirement in order to post.

    Anyway, back to the topic at hand. I'm so so worried, so very worried. Ooh-er, got the heebie-jeebies.


  • #2954
    The Enbalmer
    Banned (with Prison Access) Posts: 1,001 ✭✭✭The Enbalmer


    rapul wrote: »
    Another dip today, after getting some more ethereum and Tron personally, will more than likely just keep adding bits on in the dips everytime, hard to tell which way its all gonna go, long game for me still though.


    It's gonna go DOWN long term of course.

    Thats what people have been trying to say and we get showered with abuse for doing so.

    Its over..the crypto bubble has burst,stop trying to "buy the dips",they're not dips,they're part of the slide to zero.


  • #2955
    The Enbalmer
    Banned (with Prison Access) Posts: 1,001 ✭✭✭The Enbalmer


    grindle wrote: »
    It's weird, he seems like a normal guy in other forums but then:
    Deleted User wrote: »
    The mod comes in and saves the day from rational conversation, in a thread about feeling worried about the coin.
    It'd be amazing if a test on the basics was a requirement in .


    Okay good idea.

    Let me go first:

    What real world applications does cryptocurrency have OUTSIDE of being used for speculation?

    This "tech" has been around for years,so what's it being used for now?


  • #2956
    grindle
    Registered Users, Registered Users 2 Posts: 6,026 ✭✭✭grindle


    The Enbalmer wrote: »
    Its over..the crypto bubble has burst,stop trying to "buy the dips",they're not dips,they're part of the slide to zero.
    Why? I get why you think it could happen to Bitcoin as it's surviving on network effect and brand alone.
    I could see a case for why Monero could drop near zero if fiat on-ramps were banned.
    Why is Ethereum going to zero? Why do you think that businesses won't use it once it scales and enough contract templates get written so it becomes cheaper than employing humans to do basic data-entry? Try not to be shortsighted.


  • #2957
    smacl
    Moderators, Society & Culture Moderators Posts: 15,907 Mod ✭✭✭✭smacl


    The Enbalmer wrote: »
    Okay good idea.

    Let me go first:

    What real world applications does cryptocurrency have OUTSIDE of being used for speculation?

    After it's a ponzi scheme, this is the second most commonly asked newbie sceptic question on this forum. It has already been asked and answered multiple times, including on this thread and honestly doesn't deserve another reply if you can't even be bothered to do the most minimal research before posting derisory remarks.


  • #2958
    manu2009
    Registered Users, Registered Users 2 Posts: 470 ✭✭manu2009


    The Enbalmer wrote: »
    Okay good idea.

    Let me go first:

    What real world applications does cryptocurrency have OUTSIDE of being used for speculation?

    This "tech" has been around for years,so what's it being used for now?

    Dash is being used as a currency in countries such as Venezuela, merchants like Subway and Church's chicken accept it, they have over 4800 merchants worldwide. Check out discoverdash.com for the full list on a location map. With instant send set as default for all transactions after today's upgrade it works very well as a payment method.

    See here for a demo: https://twitter.com/dashmerchant/status/1077231140208025601

    That's just one example of real world use right now, not every country has as good of financial services as Ireland/Europe. The currency use case of crypto is unlikely to have as much impact here.


  • #2959
    The Enbalmer
    Banned (with Prison Access) Posts: 1,001 ✭✭✭The Enbalmer


    smacl wrote: »
    The Enbalmer wrote: »
    Okay good idea.

    Let me go first:

    What real world applications does cryptocurrency have OUTSIDE of being used for speculation?

    After it's a ponzi scheme, this is the second most commonly asked newbie sceptic question on this forum. It has already been asked and answered multiple times, including on this thread and honestly doesn't deserve another reply if you can't even be bothered to do the most minimal research before posting derisory remarks.


    So you can't answer the question?


  • #2960
    grindle
    Registered Users, Registered Users 2 Posts: 6,026 ✭✭✭grindle


    The Enbalmer wrote: »
    So you can't answer the question?
    It wasn't his job to, you were responding to me.
    Mad that some would want you to do your own research, I know!
    I'll baby-feed you later if I get the chance, don't worry. I have the patience of a perverted masochist saint.

    Edit: Although the easiest response would be crowdfunding that was Ethereum's main use case last year and it'll be a big one in the future once businesses and the SEC and CFTC know how to get their ducks aligned. It's much easier to issue shares via ICO than IPO.


  • #2961
    makeorbrake
    Registered Users, Registered Users 2 Posts: 4,676 ✭✭✭makeorbrake


    The Enbalmer wrote: »
    What real world applications does cryptocurrency have OUTSIDE of being used for speculation?

    Some light reading to bring you up to speed.

    And that list just scratches the surface.


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  • #2962
    The Enbalmer
    Banned (with Prison Access) Posts: 1,001 ✭✭✭The Enbalmer


    manu2009 wrote: »
    Dash is being used as a currency in countries such as Venezuela, merchants like Subway and Church's chicken accept it, they have over 4800 merchants worldwide. Check out discoverdash.com for the full list on a location map. With instant send set as default for all transactions after today's upgrade it works very well as a payment method.

    See here for a demo: https://twitter.com/dashmerchant/status/1077231140208025601

    That's just one example of real world use right now, not every country has as good of financial services as Ireland/Europe. The currency use case of crypto is unlikely to have as much impact here.


    Just checked in Subway Grafton Street.

    They don't accept anything other than Euros or a debit/credit card.

    Is there a Church's Chicken in Ireland?


  • #2963
    smacl
    Moderators, Society & Culture Moderators Posts: 15,907 Mod ✭✭✭✭smacl


    The Enbalmer wrote: »
    So you can't answer the question?

    Nah, just long since realised the futility in playing chess with pigeons.


  • #2964
    Bob24
    Registered Users, Registered Users 2 Posts: 10,905 ✭✭✭✭Bob24


    grindle wrote: »

    Edit: Although the easiest response would be crowdfunding that was Ethereum's main use case last year and it'll be a big one in the future once businesses and the SEC and CFTC know how to get their ducks aligned. It's much easier to issue shares via ICO than IPO.

    TBH my view is that for the most part the case for crowdfunding is completely flowed.

    The idea of crowdfunding is that you get a reward in exchange for early funding in a project. You could get an early and discounted version of a product, shares in the company, etc, but there has to be a clear benefit.

    In the case of ICOs, what was the benefit? For the most part people though they were getting digital tokens which would increase in value and be sold later for more money. BUT these tokens were not shares in the project or backed by anything, and at the end of the day the only rason for them to increase in value was the crypto madness of the time. So the only way people benifited from ICOs is that more people jumped in. This is obviously a pure bubble and not sustainable as there isn’t an unlimited reserve of new ICO investors.

    I would make an exception when there is a serious prospect of the digital token you are buying having future use cases which would support value appreciation otherwise than through a constant inflow of new speculators buying that token. For exemple with something like XRP whereby there is a hope (but not guarantee) that it might become a fairly major way of transferring money internationally. This is obviously a risky investment but I can see how it could pay-off beyond surfing a temporary bubble and what kind of reward ICO investors could see in buying tokens early. But this is an exception and for 99.9% of crowdsourcing needs the project doesn’t involve creating a digital token which could be seen as a genuine reward, so the reward would have to be something else than simply a digital token which isn’t backed by anything.


  • #2965
    The Enbalmer
    Banned (with Prison Access) Posts: 1,001 ✭✭✭The Enbalmer


    smacl wrote: »
    Nah, just long since realised the futility in playing chess with pigeons.

    So you don't actually know of any real world applications for cryptocurrency?


  • #2966
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    The Enbalmer wrote: »
    So you don't actually know of any real world applications for cryptocurrency?

    https://www.stephenjamesenfieldbmw.co.uk/news/2018/september/pay-with-bitcoin/

    Saved you a google.


  • #2967
    grindle
    Registered Users, Registered Users 2 Posts: 6,026 ✭✭✭grindle


    Bob24 wrote: »
    TBH my view is that for the most part the case for crowdfunding is completely flowed.

    Agreed that most ICOs last year were unnecessary or scams & the idea that utility token sales weren't securities was a bit nebulous, they were chancing their arms based on a lack of oversight, but security token sales in the future will learn from the SEC's ground-rules and it won't just be like buying shares in a company, it will be buying shares in a company.

    Utility tokens may still get released but I think it'll get overshadowed in time by security tokens and IPOs. For all the talk of ICOs dying a death in 2018, new projects had more funds pushed into them last year, mostly through VCs/angel investors. Those businesses get to be bootstrapped in a way that their funds aren't in a crazy volatile currency that could drop by 90%, they can build their project without worrying about their funds devaluing and when it comes to what is traditionally IPO time they can have an ICO where the contract (and and off chain) meets all of the SEC's rules and for a much lower cost than traditional methods.


  • #2968
    Grumpypants
    Registered Users, Registered Users 2 Posts: 8,234 ✭✭✭Grumpypants


    The Enbalmer wrote: »
    So you can't answer the question?

    You can buy cosmetics in fortnight with Monero.


  • #2969
    LoLth
    Registered Users, Registered Users 2 Posts: 10,339 ✭✭✭✭LoLth


    I saw a news report a while ago on the possibility of using cryptocurrencies / blockchain to overcome the fear and mistrust of banks in third world / developing countries where they have very little infrastructure (including actual banks) but have access to (limited) smartphone technology.

    Ill see if I can dig it up. It was an interesting take on it but it was overshadowed by the usual evangelists claiming world liberation from evil central management.


  • #2970
    Sleeper12
    Registered Users, Registered Users 2 Posts: 17,298 ✭✭✭✭Sleeper12


    LoLth wrote: »
    I saw a news report a while ago on the possibility of using cryptocurrencies / blockchain to overcome the fear and mistrust of banks in third world / developing countries where they have very little infrastructure (including actual banks) but have access to (limited) smartphone technology.

    Ill see if I can dig it up. It was an interesting take on it but it was overshadowed by the usual evangelists claiming world liberation from evil central management.




    It can only ever be used as a currency if/when it stabilizes. It's not fit for purpose with the wild fluctuations. Once it stabilizes it's no longer going to return much profit from an investment point of view. It's a bit of a catch 22


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  • #2971
    The Enbalmer
    Banned (with Prison Access) Posts: 1,001 ✭✭✭The Enbalmer


    Gerald Obedient Manicurist wrote: »
    https://www.stephenjamesenfieldbmw.co.uk/news/2018/september/pay-with-bitcoin/

    Saved you a google.


    Just rang them..they no longer accept cryptocurrencies! :D


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