Cryptocurrency mega-thread

[BEaston]

I don't think that anyone could argue against seeds in that crypto is an essentially selfish market/industry. Especially if you believe the inherent value is 0 or close to. I just don't think it's that relevant if all you're looking for is gains (which, let's be honest, is 99.99% of anyone that gets into crypto)

 

[Ghost Patrol]

looks like Seeds was the buy signal this time

 

[Evolved1]

I don't think that anyone could argue against seeds in that crypto is an essentially selfish market/industry. Especially if you believe the inherent value is 0 or close to. I just don't think it's that relevant if all you're looking for is gains (which, let's be honest, is 99.99% of anyone that gets into crypto)

Is the mindset of a crypto investor qualitatively different than that of a property or share investor? I don't know anyone who buys shares because they care about the company.

You can place a value of 0 on all crypto if you want, but that argument rests on you saying the market is wrong. You may as well claim that Sydney property is worth $10,000 maximum. Since nobody is forcing you to buy Sydney property, your valuation is only of importance to you. Good luck trying to buy bitcoin at zero or Sydney property at $10,000 though.

Crypto markets are established to the point they're not likely to disappear. Everyone in the industry has a place of importance. Traders provide liquidity to what otherwise would be an illiquid market.

Some of the most helpful I've met people exist in crypto. You can learn almost anything you want for free with educational content available. There are people who occasionally mine crypto at a loss because they believe in its importance.

 

[Evolved1]

 

[maryjames]

they took him out.

I liked him.

People who don’t got no idea wtf goes on.

 

[maryjames]

I don't think that anyone could argue against seeds in that crypto is an essentially selfish market/industry. Especially if you believe the inherent value is 0 or close to. I just don't think it's that relevant if all you're looking for is gains (which, let's be honest, is 99.99% of anyone that gets into crypto)

Lol let’s see what you say in 20 years time about crypto. Haha

 

[Evolved1]

they took him out.

I liked him.

People who don’t got no idea wtf goes on.

I didn't particularly like him after he dumped shitcoins on me in 2017, but his death does seem suspicious.

 

[Ghost Patrol]

 

[BEaston]

Is the mindset of a crypto investor qualitatively different than that of a property or share investor? I don't know anyone who buys shares because they care about the company.

You can place a value of 0 on all crypto if you want, but that argument rests on you saying the market is wrong. You may as well claim that Sydney property is worth $10,000 maximum. Since nobody is forcing you to buy Sydney property, your valuation is only of importance to you. Good luck trying to buy bitcoin at zero or Sydney property at $10,000 though.

Crypto markets are established to the point they're not likely to disappear. Everyone in the industry has a place of importance. Traders provide liquidity to what otherwise would be an illiquid market.

Some of the most helpful I've met people exist in crypto. You can learn almost anything you want for free with educational content available. There are people who occasionally mine crypto at a loss because they believe in its importance.

I agree with all of that. The difference with the housing market is that nobody could argue there is 0 value in a house/land, even if the market is overpriced. It's the difference between overpriced and a true bubble IMO.
Anyway, I agree somewhat with both sides as they aren't really mutually exclusive positions.

 

[maryjames]

I didn't particularly like him after he dumped shitcoins on me in 2017, but his death does seem suspicious.

Yeah but come on. We all have choices where we invest and how we play this game.

He was a good guy against the real troubled elite system we in.

 

[BACCS]

https://tokenist.com/new-nscc-rule-change-poised-to-end-the-short-squeeze-saga/
A hedge fund that shorted Gamestop has already shut up shop since this announcement.

 

[ash_1050]

Goodbye John McAfee, to say his last few years were interesting would be a the biggest understatement of the year.

 

[Seeds]

Do crypto millionaires drink more milk than other types of millionaires?

Why are you constantly talking about milk?

 

[Seeds]

Lol I’m not sure if trolling here or you live in 1970s.

This time is different. It’s not the 1970s anymore.

another common phrase said before the big crash. The exact same thing was said during the peak of the IT boom.

 

[Seeds]

Automation is the way of the future. Good for us, and good to drive down costs. Two birds with one stone.

Working 50+ hours a week to survive is low-level modern slavery.

Agree. Automation is the future. Working hours should fall.

 

[BuddysBiggestFan]

RIP

 

[Seeds]

Is the mindset of a crypto investor qualitatively different than that of a property or share investor? I don't know anyone who buys shares because they care about the company.

You can place a value of 0 on all crypto if you want, but that argument rests on you saying the market is wrong. You may as well claim that Sydney property is worth $10,000 maximum. Since nobody is forcing you to buy Sydney property, your valuation is only of importance to you. Good luck trying to buy bitcoin at zero or Sydney property at $10,000 though.

Crypto markets are established to the point they're not likely to disappear. Everyone in the industry has a place of importance. Traders provide liquidity to what otherwise would be an illiquid market.

Some of the most helpful I've met people exist in crypto. You can learn almost anything you want for free with educational content available. There are people who occasionally mine crypto at a loss because they believe in its importance.

everyone investing in crypto to make money thinks the market is wrong. You all think the market is undervaluing it and it will therefore go up when the market realises its mistake. But how do you know this? Why do you think it’s undervalued and by how much?

when people thought crypto would become an alternative currency they could derive an estimate. But how do you do that now?

it just looks like a ponzI scheme now where people don’t even bother to pretend their is legitimate earnings. They don’t even think about earnings. They know it’s a ponzi scheme but assume there will be infinite buyers. The party always stops at some point when there is no actual profit. It always does. To know it’s a ponzi scheme but to not care and think there will always be a buyer is just bizarre.

 

[BEaston]

everyone investing in crypto to make money thinks the market is wrong. You all think the market is undervaluing it and it will therefore go up when the market realises its mistake. But how do you know this? Why do you think it’s undervalued and by how much?

when people thought crypto would become an alternative currency they could derive an estimate. But how do you do that now?

it just looks like a ponzI scheme now where people don’t even bother to pretend their is legitimate earnings. They don’t even think about earnings. They know it’s a ponzi scheme but assume there will be infinite buyers. The party always stops at some point when there is no actual profit. It always does. To know it’s a ponzi scheme but to not care and think there will always be a buyer is just bizarre.

It's not a ponzi scheme at all. It's potentially an economic bubble.

 

[Evolved1]

PA looks bad here guys. I think it's over if we go below 30k again.

Hopefully one last pump into the 40s before then.

 

[Seeds]

It's not a ponzi scheme at all. It's potentially an economic bubble.

People are investing solely because they think people will come in and buy at a higher rate Just because.....

they are not investing cos of actual returns.

its Like a ponzi scheme where people know it’s a ponzI scheme but don’t actually care. Which is basically an economic bubble that people think will never burst despite knowing it’s a bubble.

it’s utter insanity.


cryptos weren’t always like this. We did actually think they had value initially. That’s why these things kicked off. They would be currency that would protect you against inflation. They were a way to avoid government oversight And barriers to capital transfers. They were a risk averse option to store value during economic downturns. All this has turned out to be wrong. There is no value.

 

[Evolved1]

Reports that more miners will be shut down in China by the end of June. That would probably cause another dump. When hashrate improves, prices will follow.

70% of Chinese miners shut down hardware

About 70% of Chinese bitcoin mining companies have already turned off their equipment, Kevin Zhang, vice president of business development at mining company Foundry , said on Twitter. According to him, by the end of June 2021, about 90% of Chinese miners will completely stop mining digital...

cointopsecret.com

 

[bzparkes]

I keep seeing clickbaity headlines saying "Bitcoin DESTROYED overnight and everyone's BROKE!!!!!" but it seems to be hovering at the same price it has for a few weeks...

Anyway, is there a best day of the week or time to buy BTC?

Mondays usually. Also end of month when futures expire.

 

[bzparkes]

People making their money from crypto are only making it from other crypto traders. Is thieving from thieves acceptable?

The irony being is that he probably trades in stocks.

 

[Evolved1]

Mondays usually. Also end of month when futures expire.

We used to get a weekend pump. That was fun.

 

[bzparkes]

Reports that more miners will be shut down in China by the end of June. That would probably cause another dump. When hashrate improves, prices will follow.

70% of Chinese miners shut down hardware

About 70% of Chinese bitcoin mining companies have already turned off their equipment, Kevin Zhang, vice president of business development at mining company Foundry , said on Twitter. According to him, by the end of June 2021, about 90% of Chinese miners will completely stop mining digital...

cointopsecret.com

A couple the biggest Chinese miners have already set up shop and started mining again in Texas and Kazakhstan.