Cryptocurrency (Bitcoin, Ethereum etc) Page 37

  • brokenkey 15 Jul 2021 16:33:04 11,112 posts
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    sport wrote:
    Tonka wrote:
    Tonka wrote:
    Anyone with money on Binance better get them out of there at the soonest.
    Shit, what's happened?
    Well you can't, can you. At least not as cash through Faster Payments. Their banking supplier has cut them off, as part of the reaction to the FCA ruling.

    So buy some crypto, and then send it to yourself, and hope you can off-load it elsewhere without losing money. Thanks FCA.
  • Tonka 15 Jul 2021 22:18:22 31,928 posts
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    That, and some really dodgy "technical problems" that seem to point to an incoming rug pull.

    Plus country after country flat out banning them. Just move your crypto away from them to... that other clown show. Trying to get your fantasy money out as actual money will only speed up the crash.
  • JamboWayOh 15 Jul 2021 22:50:22 24,972 posts
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    Totally not a scam.
  • ResidentKnievel 15 Jul 2021 23:56:50 7,658 posts
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    Post deleted
  • Zippity-zap 16 Jul 2021 00:09:29 660 posts
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    papcoin is where it’s at. (Post-apocalyptic potatoes)
  • MasterOfSpin 16 Jul 2021 08:02:35 112 posts
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    Tonka wrote:
    That, and some really dodgy "technical problems" that seem to point to an incoming rug pull.

    Plus country after country flat out banning them. Just move your crypto away from them to... that other clown show. Trying to get your fantasy money out as actual money will only speed up the crash.
    Oh Tonka. The salty comments never end
  • MasterOfSpin 16 Jul 2021 08:08:13 112 posts
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    I do love the reporting of crypto in the media. There was an article last week stating:

    "FTSE 100 jumps to pre-COVID highs as Bitcoin slides"

    Totally ignoring the fact that pre-COVID Bitcoin was at around $7k and currently sits around $35k.
  • ResidentKnievel 16 Jul 2021 08:44:37 7,658 posts
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    34k...33k...32k...31k...
  • MasterOfSpin 16 Jul 2021 08:58:46 112 posts
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    ResidentKnievel wrote:
    34k...33k...32k...31k...
    Sure..

    Just like it did a month ago before bouncing back to 38k.

    Zoom out.
  • ResidentKnievel 16 Jul 2021 09:04:30 7,658 posts
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    Maybe it bounces up from here again but the bounces are getting weaker and weaker, I think a further breakdown is more likely.
  • Load_2.0 16 Jul 2021 09:36:34 33,522 posts
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    I've no problem with people gambling on crypto.

    I'm having a punt myself, people made and lost ridiculous money on tulips once upon a time.

    I just hate the ridiculous preaching about it being some egalitarian future currency.

    The majority is owned by billionaires and megacorps. It's full of scams and is primariy a vehicle for tax avoidance and criminal activities.

    I also loathe the absurd predictions, graphs and terminology that's been created. Twitter and youtube flooded with the most absurd junk that serves one purpose, to lure people in with pseudo science to give it the veneer of credibility.
  • sport 16 Jul 2021 09:46:10 17,031 posts
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    @Load_2.0 - Never took you for being part of MSM! Go back to Bloomberg!!
  • Tonka 16 Jul 2021 09:50:53 31,928 posts
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    Load_2.0 wrote:
    I also loathe the absurd predictions, graphs and terminology that's been created. Twitter and youtube flooded with the most absurd junk that serves one purpose, to lure people in with pseudo science to give it the veneer of credibility.
    I'm thinking that since there is no real use for the blockchain, then all that's left is a number that moves. So maybe the whole tea leaf reading thing is the thing.

    Well it has to be. There's nothing else to it. It's roulette that you can influence by talking fast enough about a number and or colour.
  • MasterOfSpin 16 Jul 2021 09:51:24 112 posts
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    Load_2.0 wrote:
    I've no problem with people gambling on crypto.

    I'm having a punt myself, people made and lost ridiculous money on tulips once upon a time.

    I just hate the ridiculous preaching about it being some egalitarian future currency.

    The majority is owned by billionaires and megacorps. It's full of scams and is primariy a vehicle for tax avoidance and criminal activities.

    I also loathe the absurd predictions, graphs and terminology that's been created. Twitter and youtube flooded with the most absurd junk that serves one purpose, to lure people in with pseudo science to give it the veneer of credibility.
    With mainstream recognition comes the mainstream idiots, and those looking to prey upon them. I'm a big fan of crypto but I also think it does need more regulation. I actually see that as a good thing for its development.

    Whilst I agree with some of the issues you mention, I also take exception to anti-crypto types salivating at corrupt states like China cracking down on crypto - when we know full well its purely about controlling their population. Sleep with dogs get fleas, and all that.
  • Tonka 16 Jul 2021 10:11:00 31,928 posts
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    MasterOfSpin wrote:
    Whilst I agree with some of the issues you mention, I also take exception to anti-crypto types salivating at corrupt states like China cracking down on crypto - when we know full well its purely about controlling their population. Sleep with dogs get fleas, and all that.
    No. It's about stopping a bunch of super rich people from evading tax, thus preventing inflation.
  • Dirt3 16 Jul 2021 10:24:41 1,736 posts
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    MasterOfSpin wrote:
    Load_2.0 wrote:
    I've no problem with people gambling on crypto.

    I'm having a punt myself, people made and lost ridiculous money on tulips once upon a time.

    I just hate the ridiculous preaching about it being some egalitarian future currency.

    The majority is owned by billionaires and megacorps. It's full of scams and is primariy a vehicle for tax avoidance and criminal activities.

    I also loathe the absurd predictions, graphs and terminology that's been created. Twitter and youtube flooded with the most absurd junk that serves one purpose, to lure people in with pseudo science to give it the veneer of credibility.
    With mainstream recognition comes the mainstream idiots, and those looking to prey upon them. I'm a big fan of crypto but I also think it does need more regulation. I actually see that as a good thing for its development.

    Whilst I agree with some of the issues you mention, I also take exception to anti-crypto types salivating at corrupt states like China cracking down on crypto - when we know full well its purely about controlling their population. Sleep with dogs get fleas, and all that.
    All countries control their populations (and sometimes other countries populations) with control of their currency. If you think the US government would let something like bitcoin threaten dollar hegemony then you're living in a dream world. It's just a question of when they bring down the hammer.

    Bitcoin is a pyramid scheme, like any speculative investment (such as gold). People who get in pay the people who got in first their money in the hope more people will come along after them and pay even more money, hence increasing their stake. That's why there are so many bitcoin rampers on the net - it's because they need more people to come in below them so their stakes become worth more. At some point the number of people willing to join collapses, along with the pyramid. It's happened multiple times before in history. Tulip bulbs, South Sea bubble etc.

    The overriding question is do you feel lucky ? Has the bubble reached its peak, or does it have more to go ? If it has not, then you can speculate and win. If it bursts while you're holding then you're stuffed. You'll find tons of people saying its about to burst, and tons that say it has a long way to go. The truth is no-one really knows. How far it will go is dependent on a number of factors which are so large it probably makes predicting the outcome impossible.

    I think bitcoin is a very clever piece of tech. But so are lots of things. It's value isn't derived from its cleverness or even its uniqueness (it isn't unique) but is purely based on speculation. People try to use the features of the protocol to justify its value, but its a complete red herring.
  • Tonka 16 Jul 2021 11:08:43 31,928 posts
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    Dirt3 wrote:
    I think bitcoin is a very clever piece of tech.
    I don't even think it's particularly clever, quite the oposite.

    The problem it wanted to solve was "How do we know that someone isn't faking ownership of a thing that anyone can make on their computer?"

    The solution was "Let's give everyone a copy of everything that happens! In perpetuity!"

    If anything that's a brute force solution ... to a problem no one had. Poorly implemented at that since it actively rewards those that waste the most energy.
  • AcidSnake 16 Jul 2021 11:16:22 8,460 posts
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    If somehow we could make an energy source by hooking up MasterOfSpin to the positive side and Tonka the negative we'd have enough energy to power crypto mining for the next century...
  • sport 16 Jul 2021 11:29:06 17,031 posts
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    AcidSnake wrote:
    If somehow we could make an energy source by hooking up MasterOfSpin to the positive side and Tonka the negative we'd have enough energy to power crypto mining for the next century...
    The reality is that MoS held his 100 BTC back in 2011, Tonka bought a pizza.
  • askew 16 Jul 2021 11:41:20 24,015 posts
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    Load_2.0 wrote:
    I also loathe the absurd predictions, graphs and terminology that's been created. Twitter and youtube flooded with the most absurd junk that serves one purpose, to lure people in with pseudo science to give it the veneer of credibility.
    Ya, I've got a double-X-rainbow forecast right after this Cartman Bounce. You can see the lines converging right about… here.
  • ResidentKnievel 20 Jul 2021 08:02:10 7,658 posts
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    29k...
  • Nanocrystal 20 Jul 2021 08:08:02 2,522 posts
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    But but but the floor price! And the logarithmic scale!
  • ResidentKnievel 20 Jul 2021 08:27:20 7,658 posts
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    Only TA you need is that bitcoin looks like tulip mania bollocks on a monthly chart right now.

    I would not be HODL'ing unless you've held since before the last bubble then you wont give a shit and I'm jealous of you.
  • askew 20 Jul 2021 08:36:44 24,015 posts
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    time to yeet my superstonks into fiat and yolo
  • Dirt3 20 Jul 2021 09:40:23 1,736 posts
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    Back in the 2010s when the Uk housing market was due to collapse the ponzi was fuelled by the top of the pyramid (Bank of mum and dad) loaning money to the bottom in order to maintain the pricing.

    Maybe that will happen with this.
  • ResidentKnievel 20 Jul 2021 10:13:22 7,658 posts
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    I thought it was fuelled by regular banks loaning to anyone without much due diligence

    Edit: or was that 2008

    Edited by ResidentKnievel at 10:14:13 20-07-2021
  • Armoured_Bear 20 Jul 2021 10:55:13 31,138 posts
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    Damn, I should have sold a couple of months ago. still overall up 60% due to Cardano.
    I'll just HODL and see what happens...
  • ResidentKnievel 20 Jul 2021 11:10:34 7,658 posts
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    Armoured_Bear wrote:
    I'll just HODL and see what happens...
    Always works out well
  • Armoured_Bear 20 Jul 2021 11:18:23 31,138 posts
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    ResidentKnievel wrote:
    Armoured_Bear wrote:
    I'll just HODL and see what happens...
    Always works out well
    Well, no point in dumping Stellar, Digibyte, Ren, Tron when they're 50-60% down and there will likely be another pump at some point.
    Cardano still 500% up.
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