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The CryptoCurrency Thread


eddy4823
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I am bullish only for physical Gold and Silver and nothing else in this world.  The impending corrections in the world markets will destroy everything.

 

I hope I am wrong.

 

In less than a year. World markets crashed, gold jumped, oil crashed, stock markets regained their levels and in some cases posted new highs, oil regained its levels, gold stabilised what does this point to? 

 

Excess and excess liquidity. Too much money and everything is already too expensive to invest in. so what do the speculators do? Get after cryptos. 

 

 

All the above events used to gradually happen over a 10 year period otherwise happened in 10 months. 

 

This liquidity is not going anywhere in the short term so enjoy the ride. Buy hodl and keep liquidating your position from time to time and reinvest the earnings in digital gold for the short term or physical gold for the long term. 

 

 

Do read this article on Bitcoin Speculation.

https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3

 

 

 

 

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On 2/16/2021 at 12:59 PM, Bhpian Bali said:

memeworthy 
 

the problem with digital currency is there are absolute idiots invested into it. they will be first to panic sell when all this goes down and it will go down. 

look at this guy's response. "Rule one of bitcoin"

 

 

 


Game over for us?

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  • 1 month later...

I regret missing the Crypto boat but the damn thing seems illogical to me.

Someone came up with a token with limited supply and suddenly people agreed to use it as tender. But it doesn't matter because the value of the token is still being assessed in terms of fiat.

Take Tesla for example, it changes the car prices in BTC acc. to ongoing conversion rate. In case you buy a car via BTC but end up returning it, they will only pay you back in BTC if its value relative to USD has fallen since the time you bought it. If BTC went up, then you will be refunded in USD.

So it all comes back to fiat. All these hedge funds and banks investing in crypto will be the first ones to book profit and call a shift back towards fiat.

BTC or any other crypto will only be legible to me when assets are priced in them and the price remains static.

 

Although, in its current form, nice way to make money.

 

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17 minutes ago, KunjanPSD said:

I regret missing the Crypto boat but the damn thing seems illogical to me.

Someone came up with a token with limited supply and suddenly people agreed to use it as tender. But it doesn't matter because the value of the token is still being assessed in terms of fiat.

Take Tesla for example, it changes the car prices in BTC acc. to ongoing conversion rate. In case you buy a car via BTC but end up returning it, they will only pay you back in BTC if its value relative to USD has fallen since the time you bought it. If BTC went up, then you will be refunded in USD.

So it all comes back to fiat. All these hedge funds and banks investing in crypto will be the first ones to book profit and call a shift back towards fiat.

BTC or any other crypto will only be legible to me when assets are priced in them and the price remains static.

 

Although, in its current form, nice way to make money.

 

 

If we take away fiat conversions, cryptos suddenly become worthless. And with little to no regulatory oversight, an exchange can close overnight, and all your funds gone. 

 

57 minutes ago, gecko89 said:

Was thinking holding XRP for all these years was worthless, was considering trading it for Doge, looking at the last 2 weeks run, the wait was worth it :P

 

https://www.coindesk.com/xrp-doubles-7-days-biggest-weekly-gain-december-2017

 

Boi, have seen XRP reaching 200. Was stupid enough to HODL even then. :fear1:

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16 minutes ago, KunjanPSD said:

I regret missing the Crypto boat but the damn thing seems illogical to me.

Someone came up with a token with limited supply and suddenly people agreed to use it as tender. But it doesn't matter because the value of the token is still being assessed in terms of fiat.

Take Tesla for example, it changes the car prices in BTC acc. to ongoing conversion rate. In case you buy a car via BTC but end up returning it, they will only pay you back in BTC if its value relative to USD has fallen since the time you bought it. If BTC went up, then you will be refunded in USD.

So it all comes back to fiat. All these hedge funds and banks investing in crypto will be the first ones to book profit and call a shift back towards fiat.

BTC or any other crypto will only be legible to me when assets are priced in them and the price remains static.

 

Although, in its current form, nice way to make money.

 

It is illogical. I was part of this madness for about 6 months and its all fueled by hopes and dreams. 

Some tech guru comes up with some random a*s whitepaper with funky words. Half the people don't understand it but decide to invest anyways and it rises in value.

Fact of the matter is, its been a decade since crypto currency is around and there has been no meaningful application till now. Even if there is, it is of the underlying tech and the specific currencies are just useless. 

It's f**king stupid that a supposed currency derives its value purely from speculation. 

It's a worthless endeavour. Destroying the planet to create worthless bits of data. 

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On 4/13/2021 at 5:28 PM, Mr. Comingle said:

It is illogical. I was part of this madness for about 6 months and its all fueled by hopes and dreams. 

Some tech guru comes up with some random a*s whitepaper with funky words. Half the people don't understand it but decide to invest anyways and it rises in value.

Fact of the matter is, its been a decade since crypto currency is around and there has been no meaningful application till now. Even if there is, it is of the underlying tech and the specific currencies are just useless. 

It's f**king stupid that a supposed currency derives its value purely from speculation. 

It's a worthless endeavour. Destroying the planet to create worthless bits of data. 

I am sure you haven't heard of Nano. It's a feeless and instant transfer crypto and can't be mined. Supply is limited and team behind it has clearly told that we are not here to make you rich but here to use Nano as a part of Crypto world. They own very very low amount of total Nano supply. and this is how fast a transaction is. All currencies are here to let you gamble. (So is Nano), but one should definitely check it out for the tech. 
 

 

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On 4/13/2021 at 5:28 PM, Bird Bird Bird said:

 

 And with little to no regulatory oversight, an exchange can close overnight, and all your funds gone. 

 

 

 

If you keepy our crypto on exchanges , it's bound to happen. Get a cold/hot wallet and all you need is keep the phrase saved on a piece of paper or memorise it. Even trustworthy exchanges who don;t run away sometimes lock funds stating "tech issues" and keep funds locked to manipulate prices. 
When you buy a crypto . suppose 1 BTC, It doesnt give you 1 BTC, It gives you the right to withdraw 1 BTC from them anytime you want. 90% of the people don't. 

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Have got your investment back?
Easily. I spent 25k for RTX 3070 after selling my previous card. Since I already had a gaming PC , I didn't need any other investment. 21k in 2 months is what I have received. Tomorrow I'll be paid around 70-75USD since payout is every 14 days.

Sent from my Pixel 4a using Tapatalk

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