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Cryptocurrency mega-thread

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burge13 said:
I'm not against crypto, what I hate about it more is the 'investors'

Most of it has no underlying use case, like literally nothing. You're not investing, you're not smart or wise putting money into a coin that is a dog meme or whatever. Whether that goes up or down, its genuinely dumb AF putting money into as it's really worth zero. That side of it is a bubble, surely you agree there?

Then that side of it overshadows anything that does have a use case.

But, even then, those with a use case has very little 'need' for its own token if we're being honest. These are what cops hate

The people, the lack of use case, and unnecessary tokens. All pretty valid criticisms IMO

The absolute best part is the 24/7 market of it. A true free market, unlike the ASX where bots close out large positions are 3.59pm before close or manipulate etc despite 'regulation'

Gambling should be a good winner on it too. Sportsbet block winners instantly, a crypto bookie hopefully takes over with decent liquidity soon. A global betfair clone
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There it is again, ‘no use case’. Sorry, but I reckon the largest investment funds in the world aren’t backing an asset like BTC or ETH with ‘no use case’, nor are these ETFs then putting in record volumes if there is ‘no use case’. The asset class is clearly here to stay. Do you hate funds like Blackrock? They are the ones pumping your TradFi stocks/indexes as well.

There’s plenty of useless companies in TradFi too, what’s your point? Scams will exist in any market.

Obviously my thoughts on blockchain gaming are known given my investment in Merit Circle, but that’s a clear use case which is very easy to understand. In game economies already exist, so why not remove the 3rd party (gaming studio) and allow players to interact directly with each other? I’m not talking p2e either, that model is dead. There are genuine fun to play games launching/in the process of launching developed by people from all the top gaming studios.
 
BACCS said:
There it is again, ‘no use case’. Sorry, but I reckon the largest investment funds in the world aren’t backing an asset like BTC or ETH with ‘no use case’, nor are these ETFs then putting in record volumes if there is ‘no use case’. The asset class is clearly here to stay. Do you hate funds like Blackrock? They are the ones pumping your TradFi stocks/indexes as well.

There’s plenty of useless companies in TradFi too, what’s your point? Scams will exist in any market.

Obviously my thoughts on blockchain gaming are known given my investment in Merit Circle, but that’s a clear use case which is very easy to understand. In game economies already exist, so why not remove the 3rd party (gaming studio) and allow players to interact directly with each other? I’m not talking p2e either, that model is dead. There are genuine fun to play games launching/in the process of launching developed by people from all the top gaming studios.
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Sorry but there are 100's, if not 1000's of meme coin crap with quite literally zero use case. Obviously those are the ones I meant. Not the handful that do. There are definitely lifestyle co's on the ASX but hte underlying business does 'something' even if management are moronic.

Add getting that defensive over a reasonable criticisms, bordering on cult like, to the reasons crypto gets hated on I think lol
 
burge13 said:
Sorry but there are 100's, if not 1000's of meme coin crap with quite literally zero use case. Obviously those are the ones I meant. Not the handful that do. There are definitely lifestyle co's on the ASX but hte underlying business does 'something' even if management are moronic.

Add getting that defensive over a reasonable criticisms, bordering on cult like, to the reasons crypto gets hated on I think lol
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What has memecoins got to do with the rest of the space? Anyone with half a brain understands they are pure gambling with very little to zero utility. I gave you a legitimate use case, one of many out there.

The existence of memecoins certainly hasn't stopped Blackrock and the like of putting insane amounts of money into $BTC and $ETH. People can call it a 'scam' all they like, but that doesn't apply to the entire space and is a very straw man argument.

The underlying businesses to many legitimate projects in crypto is there as well. Just like any business, they are aiming to deliver a product for investors so they can continue to grow and improve.
 
BACCS said:
I don’t understand why so many people love to jump on the crypto hate bandwagon, instead of actually trying to understand it and make the most of these generational wealth making opportunities. These times won’t be here forever, so instead of spending energy calling it a scam, why not use that energy to make the most of trying to get ahead financially? Heck, you may even find you enjoy it!
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Most of it is a scam.
 

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burge13 said:
I'm not against crypto, what I hate about it more is the 'investors'

Most of it has no underlying use case, like literally nothing. You're not investing, you're not smart or wise putting money into a coin that is a dog meme or whatever. Whether that goes up or down, its genuinely dumb AF putting money into as it's really worth zero. That side of it is a bubble, surely you agree there?

Then that side of it overshadows anything that does have a use case.

But, even then, those with a use case has very little 'need' for its own token if we're being honest. These are what cops hate

The people, the lack of use case, and unnecessary tokens. All pretty valid criticisms IMO

The absolute best part is the 24/7 market of it. A true free market, unlike the ASX where bots close out large positions are 3.59pm before close or manipulate etc despite 'regulation'

Gambling should be a good winner on it too. Sportsbet block winners instantly, a crypto bookie hopefully takes over with decent liquidity soon. A global betfair clone
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A use case isn't necessary. Bitcoin is a bet against the status quo.
 


Just make anyone who still has a misinformed opinion that crypto is just a scam to watch this video from Larry Fink. This is the largest hedge fund manager in the world, their opinion (and those of similar size all in the BTC spot ETFs) are all that matter when it comes to financial markets. He sees the value in a tokenized market that operates on the blockchain, beyond just BTC (also mentions ETH).

If Larry Fink sees the true value of crypto, maybe just take the time to understand why he thinks like that and whether you still want to be calling this entire space a scam for the rest of your life, or actually take advantage of the financial opportunities presented from a new technology that is in its very early stages.

Is that answer still too ‘cult like’, burge13?
 
BACCS said:


Just make anyone who still has a misinformed opinion that crypto is just a scam to watch this video from Larry Fink. This is the largest hedge fund manager in the world, their opinion (and those of similar size all in the BTC spot ETFs) are all that matter when it comes to financial markets. He sees the value in a tokenized market that operates on the blockchain, beyond just BTC (also mentions ETH).

If Larry Fink sees the true value of crypto, maybe just take the time to understand why he thinks like that and whether you still want to be calling this entire space a scam for the rest of your life, or actually take advantage of the financial opportunities presented from a new technology that is in its very early stages.

Is that answer still too ‘cult like’, burge13?
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No, but your random tagging of me and flying off the rails when someone mentions cat pictures don't need to be 'tokenised' is

And shock, fund manager who just bought into something now praises it. Colour me shocked
 
burge13 said:
No, but your random tagging of me and flying off the rails when someone mentions cat pictures don't need to be 'tokenised' is

And shock, fund manager who just bought into something now praises it. Colour me shocked
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Just thought I would tag you so you can share with mates still calling it a scam, seems you know a few 😀

Are you also able to admit that people who continue to just call it a scam because of one small sector in the space are irrelevant opinions these days?
 
BACCS said:
Just thought I would tag you so you can share with mates still calling it a scam, seems you know a few 😀

Are you also able to admit that people who continue to just call it a scam because of one small sector in the space are irrelevant opinions these days?
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There's more tokens without a real use case than with

The one's that do, don't need to have its own coin/token & would work better with fiat. Imagine going to buy shoes with 'foodcoin' only they don't accept that, they use 'shoecoin'. Ridiculous.

Blackchain could be tremendous for lots of business, again no need for a token

A lot of the tech could be integrated to business now and would have without needless the coin/token aspect

NFT's are a scam/ponzi/whatever you want to call it. memecoins are the same. Doesn't make crypto entirely a scam

Unsure why you're so offended over criticism
 
burge13 said:
There's more tokens without a real use case than with

The one's that do, don't need to have its own coin/token & would work better with fiat. Imagine going to buy shoes with 'foodcoin' only they don't accept that, they use 'shoecoin'. Ridiculous.

Blackchain could be tremendous for lots of business, again no need for a token

A lot of the tech could be integrated to business now and would have without needless the coin/token aspect

NFT's are a scam/ponzi/whatever you want to call it. memecoins are the same. Doesn't make crypto entirely a scam

Unsure why you're so offended over criticism
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Because the criticism is absolutely outdated and your opinion actually doesn’t matter in the scheme of it. The top 1% money people in this world see value in the space, get on board or don’t, really doesn’t bother me as it won’t change where this space is heading if your opinion stays the same.

There are clear growth sectors in the space (gaming, AI), but you are just sprouting the same opinions as 2021. Very few people would still see any of this technology becoming currency in the traditional sense, but tokenisation can be applied in many different ways to bring value.

Beyond a cursory glance, do you actually do any deep research into projects that have been building since 2021, or ones that have continued development since? If you haven’t, then why are we even having this debate. It’s like trying to convince a flat earther believer of actual evidence that it isn’t, but they choose to deliberately ignore it, the debate is always going in circles.

I think you would be surprised at how little value most companies in TradFi actually generate to the real world. Just look at the number of ‘mining companies’ that never dig a gram of dirt, but pay millions to some geologists to make investors think they will eventually. I think society would survive just fine without that, but I’m not the one that determines its value, the market decides that. They’re no different to memecoins, but at least memecoins can be funny memes.

Do you actually invest in the stock market because of ‘real world use case’, or because you want to make money?
 
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burge13 said:
The one's that do, don't need to have its own coin/token & would work better with fiat. Imagine going to buy shoes with 'foodcoin' only they don't accept that, they use 'shoecoin'. Ridiculous.
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Imagine going into Australian shops and they won't accept cash...

The fiat you talk about, is that the same fiat that can be absolutely worthless if you hold the wrong fiat?

Would you rather hold BTC if you live in Venezuela or the local fiat?
 
I’m after some advice.

I have never used crypto. Sorry for my ignorance.

I would like to purchase small amount of bitcoin to use as payment for purchases here and overseas (online transactions).

Can you please advise me on the steps involved, where to buy the bitcoin, which wallet to use, anything I should consider that I haven’t.

Again, I just want to buy a small amount of bitcoin, purely for transactional purposes.

Thanks in advance
 
crypto is worthless. it is only worth something because the a small minority of people think it is a future.

that is my view and it isnt changing for any boom or busts. It is just full on emotional "investment", controlled and manipulated by the markets with so many scams and dodgy crap going on behind closed door. it fails as a currency and not something I want to have my money in.
 
BobbyMorri said:
crypto is worthless. it is only worth something because the a small minority of people think it is a future.

that is my view and it isnt changing for any boom or busts. It is just full on emotional "investment", controlled and manipulated by the markets with so many scams and dodgy crap going on behind closed door. it fails as a currency and not something I want to have my money in.
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Small minority… Blackrock… record ETF inflows…

Ahhhhhh

Robot What GIF
 

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BobbyMorri said:
And how many people are using it as a currency......

You asked for the doubters, so here I am. I don't care about the ups and downs. There is something fundamentally wrong with its concept.
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BTC is not a currency, it’s a store of value like gold, which is exactly how Blackrock and others see it and why they pushed hard for the spot ETF.

I’ve gone into my thoughts about tokenisation above, feel free to read those posts and then maybe do a bit of your own research to understand why the world’s richest are pumping trillions into the space in recent years.

You’re also the one with the ‘small minority’ comment, which is factually incorrect. The combined size of those funds offering spot BTC ETFs in the US (and soon ETH) are bigger than most country GDPs. The BTC ETFs are doing record historical volumes, and did more volume in the first month than the 400 odd combined for the entire of 2023 that launched.
 
BACCS said:
BTC is not a currency, it’s a store of value like gold, which is exactly how Blackrock and others see it and why they pushed hard for the spot ETF.

I’ve gone into my thoughts about tokenisation above, feel free to read those posts and then maybe do a bit of your own research to understand why the world’s richest are pumping trillions into the space in recent years.

You’re also the one with the ‘small minority’ comment, which is factually incorrect. The combined size of those funds offering spot BTC ETFs in the US (and soon ETH) are bigger than most country GDPs. The BTC ETFs are doing record historical volumes, and did more volume in the first month than the 400 odd combined for the entire of 2023 that launched.
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Yes, and some Shitecoins are worth millions!!!!!!!

I thought Bitcoin was all about the people, taking it back from the banks, governments and financial firms.......

My first post on this forum was years ago. It has gone from a currency of the future and against the banks to kissing their asses as they are the only ones who care. And well, Whales(same thing) who manipulate the markets to get fatter. I mean, there is no reason for this market to go up and down outside that. You are trading nothing, it is being used by no one. Yet, it seems to be a common occurrence every 6 months or so.
 

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