Cryptocurrency (Bitcoin, Ethereum etc) Page 27

  • Dirt3 30 Apr 2021 11:04:29 1,625 posts
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    Benno wrote:
    Dirt3 wrote:


    Finally there is some theory. I don't know what it is called. But it says that the longer something is around, the more likely it is to be around in the future. The pyramids of Giza are often used as one example. The idea that they will be around in 2000 years time seems reasonable, because they have already been around for a few thousand years. Bitcoin has been around for a tiny amount of time relatively, so the probability it is here to last is much reduced.
    https://en.wikipedia.org/wiki/Lindy_effect
    That's it, ta.

    I was interested to find recently that the average lifespan of a fiat currency is about 35 years.
  • kingnothing12 30 Apr 2021 11:16:49 831 posts
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    chainlink whitepaper 2.0

    Even if you just read the first two pages. A little digging into the names behind this paper, pure galaxy brains. Read the entire thing if you fancy, buy some chainlink and Ethereum and go away for 5 years. Literally the worlds data will be linked in a decade or so.

    Imagine being able to have definitive truth backed by a consensus of nodes, if the node tries to falsify bad data it gets penalised, if a group of nodes try to sway the consensus it would take orders of magnitude greater than the value of the network itself to game the system. Also nodes get rewarded for reporting other nodes if they are trying to give bad data(Again this is only scratching the surface here)

    Banks/companies/brokers will be able to use a function called proof of reserve to be able to show and verify what they hold. Gambling sites and lotteries will be able to use VRF (verifiable random function) to give true random outcomes that are verified onchain (All of what I've mentioned is being adopted and used right now). Voter fraud should become a thing of the past using oracles, smart contracts and blockchain. There is so much more to just token creation and currencies.

    I'm literally just scratching the surface of what oracles and smart contracts will be able to achieve.

    77 smart contract uses

    I don't buy into currencies, banks will issue their own coins (CBDC) that are pegged to a bunch of currencies that are then verified onchain through oracles. Why use a 3rd party(looking at you XRP) when they can just bolt on their existing system to next generation payment settlements through Ethereum.

    I've been reading countless posts similar to yours tonka for years, and while some do hold weight, things are still progressing at a rapid rate. As crazy and biased as I may sound, I do believe we are witnessing the birth of a new financial system through the use of smart contracts. I can't wait to see where all this goes by 2025+

    Edit: Co-authored white paper with the wef

    The missing link between blockchain and enterprises

    Edited by kingnothing12 at 12:02:01 30-04-2021
  • ResidentKnievel 3 May 2021 09:12:24 7,571 posts
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    Ethereum over 3000, my horoscope told me that I should short it from 3150 for a little while.

    I'm a hypocrite for saying this but crypto really needs heavier regulation than it has currently, it's an environmental disaster thats provided nothing to the world except to make alt-right tech bros even more obnoxious. Blockchains are good back end tech, but cryptocurrencies themselves are a curse upon the world.
  • SuperCoolEskimo 4 May 2021 11:09:52 11,877 posts
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    DOGE TO MARS
  • ResidentKnievel 4 May 2021 11:32:47 7,571 posts
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    LITECOIN TO JUPITER
  • Tonka 4 May 2021 12:25:57 31,801 posts
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    @ResidentKnievel AS I think I've said already, every time I look into crypto I feel like Steve Carell in The Big Short.
  • Benno 4 May 2021 12:38:51 11,831 posts
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    Tonka wrote:
    @ResidentKnievel AS I think I've said already, every time I look into crypto I feel like Steve Carell in The Big Short.
    Are you shorting it then?
  • sport 4 May 2021 12:52:34 16,849 posts
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    User Tonka is definitely the hero in this story.
  • Load_2.0 4 May 2021 12:55:10 33,075 posts
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    Lekkercoin performing well due to increases in biltong supply.
  • sport 4 May 2021 12:58:34 16,849 posts
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    Lekker like a cracker! Invest now my china!
  • Tonka 4 May 2021 14:55:06 31,801 posts
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    sport wrote:
    User Tonka is definitely the hero in this story.
    Did you think of Steve Carells character as the hero in The Big Short? Interesting.
  • MasterOfSpin 4 May 2021 15:24:43 70 posts
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    The problem nowadays is that it's almost impossible to separate the legitimate critics with interesting concerns about crypto from the insanely salty people that are hugely frustrated that they missed out on a fortune.

    Some of the people on r/Buttcoin have been laughing at crypto since 2012 or earlier. Imagine spending all that energy hating on something that, if you'd just taken a small gamble, would have made you a huge amount of money. But this just makes them angrier.

    Quite funny really.
  • sport 4 May 2021 15:26:49 16,849 posts
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    Tonka wrote:
    sport wrote:
    User Tonka is definitely the hero in this story.
    Did you think of Steve Carells character as the hero in The Big Short? Interesting.
    Yes, he was the best one.
  • CrispyXUKTurbo 6 May 2021 19:06:07 3,095 posts
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    Anyone got safe moon? Just bought 8 million for 40 odd, you never know, right?
  • JYM60 6 May 2021 23:29:55 18,924 posts
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    Aye. Got 90 million for 50 lol.
  • Mola_Ram 7 May 2021 05:26:50 25,729 posts
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    Just as an update, my friend's inaccessible Dogecoin is now worth over $100,000. He seems to be taking it pretty well considering, but I still fear for his mental health.
  • Mola_Ram 7 May 2021 05:28:27 25,729 posts
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    On a kind of related note, this is a pretty good article about the Elon Musk effect on all of this

    https://thetriad.thebulwark.com/p/red-bull-elon-musk-and-matt-gaetz
  • Tonka 7 May 2021 07:37:02 31,801 posts
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    MasterOfSpin wrote:
    The problem nowadays is that it's almost impossible to separate the legitimate critics with interesting concerns about crypto from the insanely salty people that are hugely frustrated that they missed out on a fortune.

    Some of the people on r/Buttcoin have been laughing at crypto since 2012 or earlier. Imagine spending all that energy hating on something that, if you'd just taken a small gamble, would have made you a huge amount of money. But this just makes them angrier.
    I'm sure there are people that are sad they missed out on a fortune. Who wouldn't want to be financially independent based on a lucky roll of the dice? But that doesn't mean their critique of the block chain is invalid.

    Everything I've seen in the defence of the blockchain boils down to "it has paid off as a financial speculation" or "in five years that will be fixed".

    Slavery was very profitable at a time, that doesn't mean critics of slavery were wrong.
  • Tonka 7 May 2021 07:39:27 31,801 posts
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    Mola_Ram wrote:
    On a kind of related note, this is a pretty good article about the Elon Musk effect on all of this

    https://thetriad.thebulwark.com/p/red-bull-elon-musk-and-matt-gaetz
    Thanks for sharing. Very sad read about the state of things. I see the exact same thing play out in Swedish politics. We have the self proclaimed Liberals aligning with the self proclaimed Nationalistic Conservatives. Liberals embracing racist conservatives. Without blinking. (Well, to be fair lot of people left the Liberal party, sadly, more joined.)
  • JYM60 7 May 2021 09:18:03 18,924 posts
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    I don't really get the Elon Musk thing. Maybe it's just me, but he's not very charismatic. Remember the time he was at E3? Grim.
  • Mola_Ram 7 May 2021 09:22:03 25,729 posts
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    He's basically one of the main replacements for Trump, now that Trump isn't on Twitter anymore.
  • moominpapa 7 May 2021 11:21:53 19 posts
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    @CrispyXUKTurbo Where are you buying Safe Moon? Kraken doesn't seem to have it.
  • JYM60 7 May 2021 11:26:45 18,924 posts
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    No big exchanges have it. Pancakeswap best way still afaik.
  • moominpapa 7 May 2021 11:30:27 19 posts
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    @JYM60 Cool, thanks.
  • Tonka 7 May 2021 11:38:00 31,801 posts
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    JYM60 wrote:
    I don't really get the Elon Musk thing. Maybe it's just me, but he's not very charismatic. Remember the time he was at E3? Grim.
    He's filthy rich and triggers lefty snowflakes, and that. is. all. it. takes.
  • BreadBinLidHero 7 May 2021 11:49:28 10,594 posts
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    Dirt3 wrote:
    Benno wrote:
    Dirt3 wrote:


    Finally there is some theory. I don't know what it is called. But it says that the longer something is around, the more likely it is to be around in the future. The pyramids of Giza are often used as one example. The idea that they will be around in 2000 years time seems reasonable, because they have already been around for a few thousand years. Bitcoin has been around for a tiny amount of time relatively, so the probability it is here to last is much reduced.
    https://en.wikipedia.org/wiki/Lindy_effect
    That's it, ta.

    I was interested to find recently that the average lifespan of a fiat currency is about 35 years.
    That's why the British car industry died out.

    /hereallweek
  • macmurphy 7 May 2021 12:54:59 4,437 posts
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    Mola_Ram wrote:
    On a kind of related note, this is a pretty good article about the Elon Musk effect on all of this

    https://thetriad.thebulwark.com/p/red-bull-elon-musk-and-matt-gaetz
    Great read.
  • Tonka 7 May 2021 13:58:43 31,801 posts
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    This post on how useless crypto is as a currency is also worth reading
    https://themargins.substack.com/p/bitcoin-and-buying-things
  • MasterOfSpin 7 May 2021 14:17:06 70 posts
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    Tonka wrote:
    This post on how useless crypto is as a currency is also worth reading
    https://themargins.substack.com/p/bitcoin-and-buying-things
    You're assuming that crypto never stabilises. It's still well in a price discovery phase at the moment. But with larger markets comes greater stability. I don't think anyone is thinking it will continue to rise forever.
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