Cryptocurrency mega-thread

Liger

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Jul 1, 2013
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You guys still in?

Finally the Rekning begins and all the DUMB money will be purged from this space.
People think they have been 'investing' buying and trading ALTs, they haven't, they've been gambling.
They have been trading worthless tokens on unregulated gambling casinos, now the lights have been turned on and the monopoly money is being exposed for what it truly is - fake money, fake volume, fake liquidity, fake exchanges.

Most exchanges will dry up and die in the next 18 months through lack of liquidity & law cracking down on Alt-scams.
There is only one protocol - Bitcoin and there is only one implementation keeping to the Satoshi Vision that will survive, Bitcoin Cash v0.1 mined by BitcoinSV - thou BU can be made compatible and other implementations will also start up. ABC will be destroyed as it's moving outside of the v0.1 compatibility.
Anything that isn't compatible with v0.1 will die. ABC is first cab off the rank.

Every other crypto acting as money will die in time, some quicker than others.

People do not understand what crypto is and what gives it value. The value isn't in the blockchain, it's in the property rights of your private key. Watch the first video below to understand in relation to Gold contracts.

People failing to learn will be rekt.

This is a very good thing for those who can see 10 years forward and want sound global money free from the shackles of central banking.
This is a very bad thing for those thinking they were smart gambling shitcoins that have no function or purpose outside of dodgy exchanges.

People love to hate CSW but they are idiots. Listen to what he says, read what he writes and follow his path.
Ignore him, insult him, think your smarter than him and you will get rekt. Too many idiots have been brainwashed to just say 'faktoshi lol' and turn their brains off, they will lose because their brains aren't functioned for higher thinking to see past the emotion that Craig purposefully stirs up in them. He doesn't want idiots in this space, he wants real investments. NO big investors will ever fund 'crypto coins' that have no solid base, that aren't function within the monetary and finance laws, doesn't matter how many tweets or reddit karma you have - you will never see investment that will make this global with a coin or token that operates outside of the law - that is an anarchists wetdream, not reality. The laws will change in time once the protocol is so ingrained in finance that it can't be turned off. Patience is the key.

Here's some videos to get you started if you want to learn. If your an idiot, reply with 'faktoshi lol' and get out of the way.

Craig Wright - 2014
A table of Australian Federal and National police attended this conference, which caused a few people to shift awkwardly in their seats as Craig Wright talked about transporting items of significant value through airports.


Craig Wright - 2014 Interview
Part 1:

Part 2:

Part 3:


Craig Wright - 2014 TV interview on cyber warfare


Read 'The Satoshi Affair' - 2016
Learn what turned Craig into the 'monster' he's percieved as now
https://www.lrb.co.uk/v38/n13/andrew-ohagan/the-satoshi-affair
Video:
https://www.youtube.com/watch?v=zxMU4C6bGKw
BBC Interview:
https://www.youtube.com/watch?v=5DCAC1j2HTY

Next up, The Seg-wit Fork - June 2017
Craig warned and explained then - who listened?
Craig Wright lays out amazing deep wisdom at the Future of Bitcoin conference in Arnhem, Netherlands. June 30, 2017
https://www.youtube.com/watch?v=v1_gxvx_QGo

Craig Wright - Craig Wright on Turing completeness, mining incentives, and selfish mining
https://www.youtube.com/watch?v=whbzIGML1qY

Nov 2018

Craig Wright joins WhalePool for a critical interview just before the Bitcoin BCH/SV fork to give his thoughts on how it will all play out
https://www.youtube.com/watch?v=kp5bOOwF8Yc

Dr. Craig S Wright on the origins of Bitcoin and the upcoming BCH/SV vs BCH/ABC fork.
https://www.youtube.com/watch?v=MXMCzhwm554
 

Liger

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Jul 1, 2013
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Got no choice but to hodl.

No more ico's, no more sh!tcoins, just accumulating BTC now.

Shitcoins must be dropped ASAP - either people take their loses now or hope to hell there will be a dead cat bounce before the year is finished so they can bail out a bit higher, but if you think this year was brutal, 2019 is going to be a slaughterhouse for shitcoins.

BTC will get destroyed next year and more so leading into the mining rewards halvening in 2020. BTC & Lightning Network will never work, it will never scale. It robs from the miners and gives power to intermediaries and more and more miners will realise this and point their hash away from BTC. This BCH hashwar will be the first big proof of concept as to why hash matters.

ETH is a mess and if the shitcoins have no purpose, ICOs keep failing or worse - Law cracks down on exchanges and frauds, ETH has no purpose. It's doomed. If there's no shitcoin gambling exchanges, BTC falls.

Hash power will flee BTC next year, it's price will drop like a rock. It will most likely never see 10k (USD) again and it will be lucky to see 8k without a big pump. Any big pump from this point forward should be seen as a pump & dump, it won't be a new mooning, it will be exit scams and people cashing out. McAfee will eat his dick. Exchanges will freeze, mempool will flood, fees will skyrocket, liquidity will vanish, Tether tokens will decouple and good luck claiming those for real $. What occurred in 2017 with the shitcoin ICO market was an aberration that shouldn't have happened and won't happen again. All it did was focus the SEC and laws onto the blockchain technologies like Suarons eye on Frodo. Market caps are 100% bullshit metrics, there is no where near that much liquidity in the exchanges, most of the real money is in Tethers bank accounts somewhere in the Bahamas.

The ONLY protocol that meets international monetary laws is Bitcoin V0.1 - it was designed as sound money, and lawful money - that is now Bitcoin Cash and the hashwar is about resetting BCH back to v0.1 and away from ABC/Bitmain who want to add opcodes that will turn it into ETH2.0 because Jihan makes shitcoin miners. All the support for ABC in this hashwar comes from shitcoin exchanges, all the support for v0.1 (Satoshi's Vision) comes from miners. Think on that.

You can deny it but the sooner you get over it and instead think about it the sooner you have a chance of survival.

As much as a lot of people hate to hear it, BCH will be the only coin to own. There was only ever 1 protocol, Bitcoin V0.1 - the ONLY coin honouring that protocol is BCH. The hash wars in BCH will prove the power the miners have over the developers and more and more hash will move towards it. Since most Alts don't have anywhere near enough hash backing their chains up, they will be eaten by Sharkpool - LTC looks like it will be first.

Remember, the ticker means nothing, BCH or BTC, it's just a ticker for exchanges. Bitcoin was originally XBT, then BTC, then Bitcoin Cash split as BCC, now it's BCH.

You don't buy the ticker, you buy the protocol.
If you can't wait until 2025-2030 to see this technology bring you wealth - go buy gold bars to hodl during the next financial collapse.

Fun times ahead!
 

tigertigertiger

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Everything everyone says to get newbies into crypto is backfiring, friendships and family falling out, losing money! It’s crap, the bubble burst! Now people saying hodl are just desperate, I repeat the bubble burst!
 
May 5, 2006
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I found this interesting (though am far from convinced of the merits of the system):

https://initiativeq.com/knowledge/economic-model

Value: A cryptocurrency comparison
An alternative approach to estimating the value of Qs is by studying the cryptocurrency market, which is another attempt to create a new currency. So far, cryptocurrencies have failed as currencies. Their focus is on ensuring scarcity (i.e. that no one can easily generate new coins), but they neglect stability of value and ease of use. This makes them ill-suited for trade, with nearly all activity fueled by speculation (see more about the shortcomings of cryptocurrencies).

Despite these shortcomings, the market value of cryptocurrencies reached nearly 1 trillion USD. It is not far-fetched to assume that a currency that is designed to meet the market’s true needs (stability of value, ease of use, etc.), and is exclusively coupled to a superior payment network, should surpass this number.
Q monetary policy
  • Every currency needs a sound monetary policy, in order to maintain public trust in its long term stability. A currency whose economic value fluctuates rapidly complicates trades and finance, damages the economy, and eventually pushes people to use other currencies.
  • To maintain purchasing-power stability, the total amount of money in the economy (the “money supply”) should grow on pace with economic activity and the corresponding demand to hold money. In most countries money supply is primarily controlled indirectly, through incentives given by central banks to private banks.
  • Initiative Q also needs a monetary policy to maintain the currency’s stability, but as a global electronic currency, it is not bound by these historical limitations, and can use more advanced monetary instruments while relying on accurate real time economic data. These monetary instruments are detailed below.
  • It should be noted that Initiative Q’s monetary policy will eventually be overseen by a monetary committee that is directly accountable to all Q holders, and independent of the Initiative Q corporate entity.

I wonder what the hardcore crypto nuffies (who have gone suspiciously quiet for a few months after much chest beating) think of 'Initiative Q' - which is effectively seeking to create a more efficient method of conducting transactions that effectively isn't decentralised at all.
 

Liger

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Everything everyone says to get newbies into crypto is backfiring, friendships and family falling out, losing money! It’s crap, the bubble burst! Now people saying hodl are just desperate, I repeat the bubble burst!

The bubble burst in January. The 2017 July-December shitcoin ICO racket peaked before new year with so much dumb money entering the space. In mid-January the markets got hit by the Chinese new year leading into February which often tanks most financial markets for a few days or weeks. There was a small bounce back but then everyone freaked out for US Tax season which started around March - that was the first US tax season since the 2017 Shitcoin bonanza and US tax regulations on crypto are brutal, so people dumped again to get back into cash.
It never really recovered this year as most ICO's are failing or going nowhere because their protocols don't work. There's nothing left in the tank to revive them. Any bounce off these lows will be the last chance to exit, don't let anyone fool you into thinking it's a recovery.

The next big opportunity is with the death of BTC and the flippening to BCH.
BCH is not an alt-coin, it is Bitcoin v0.1 - the ORIGINAL protocol. Segwit & Lightning Network are not Bitcoin.
Don't let a ticker symbol confuse you.

There's too much money and resources backing BCH to see it fail. Coingeek have invested $500mil in their mining operations, they OWN that hash, it's not rented to a pool like most of the BTC hash. They are focused on 1 outcome. There's over $100million set aside by CSW and Calvin Ayres to mine BCH at a loss for up to 2 years. No other coin has this backing. They will not see it fail, they are locking the protocol down, making it stable so it can be built on for big time institutional investors to start making this tech grow up. Reddit and Twitter is not going to turn crypto into global money, Fortune 500 companies will but they need a solid base to build on, they need a protocol that doesn't change at a developer whim, which meets financial laws and can scale rapidly. BMG (Big Mining Group) will mine the first 128mb block in a few days, they mined 5x 32mb blocks a few days ago when told it was impossible to break 22mb. They have tech no one else does, they are bleeding edge and not waiting for raspberry pie nodes to catch up. If your rig can't handle blocks bigger than 8mb you are dust. It's now or never. Gloves are off. There is no limit to the blocksize at scale, the true blocksize limit is the bleeding edge of hash power, this is the 20 year goal, unlimited sized blocks. BTC keeping blocksize to 1mb is a joke, even floppy discs were bigger than 1mb.

Craig has stated he'll begin selling his BTC next year, then start releasing papers proving Segwit has a critical flaw and Lightning Network is also broken. He signed a hash for the Lightning Network paper a few weeks ago to prove that when he releases it he can show that he warned people in advance. Most people don't listen to him because 'mah fakesatoshi'. Their loss. Start paying attention. He is crude and doesn't tolerate fools but he shares more information than anyone else in this industry if you LISTEN. Read his tweets (they are brutal and hilarious, he shitposts for fun on twitter), read his medium articles (this is where he lays out the real vision), watch his interviews (this is where you will hear and see the real person).

BCH or bust - watch the price, pray it tanks and scoop up as much as you can. I hope we see sub-$100. Quantity should be your goal for the next 3-5 years - accumulate!
In 2020 the mining reward halves from 12.5 BTC/BCH per block to just over 6, BTC will not survive this event, BCH will eat it up.
 
Jun 19, 2011
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So, I had a bit of a play earlier this year. Bought 2k of Dovu. Thought if I'm Gunna gamble might as well gamble properly. Its worthless now if course. And I'm ok with that. But not sure i can sell it. My question is, how do I write off my 2k loss against capital gains from a property sale. If I can't actually sell them. Can I just list a 2k loss without a sale?
 

Chubberson

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Apr 12, 2011
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A crypto accountant could help you out. Testing times ahead it seems. I’m still holding my WTC bags and will continue until at least end the of 2020. TBH it feels like we can’t trust anything designed as a ‘currency’. Glad I dumped the vast majority of my currency coins a long while ago.
 
Jun 19, 2011
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I’m guessing you’ve bought into an ico that was a scam? Or just almost instantly folded, been there, cut your losses and never get back into crypto again
Yeah I bought Dovu for a bit of fun beacuase I heard a rumour BMW were getting them onboard. They are now actually running some pilot program with BMW, but they're worthless and there are no exchanges to sell them on. I want to write them off against some gains. don't think I can though.
 

tigertigertiger

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Oct 11, 2016
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Yeah I bought Dovu for a bit of fun beacuase I heard a rumour BMW were getting them onboard. They are now actually running some pilot program with BMW, but they're worthless and there are no exchanges to sell them on. I want to write them off against some gains. don't think I can though.

I have cut my losses with investa, sonder and alt.estate
 

ash_1050

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Nov 21, 2009
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First time I've checked the price in a couple of weeks as my alerts went off for BTC dropping below 5k. Will keep an eye on it and possibly consider trying to catch the falling knife at some point in the next few weeks. Complete contrast to this time last year!
 
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