CatmanV2
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None of this thread makes any sense. Does this mean I am officially old now?
No, just ignorant
C
None of this thread makes any sense. Does this mean I am officially old now?
Count yourself lucky.None of this thread makes any sense. Does this mean I am officially old now?
Count yourself lucky.
Lots of speculators thought they understood it and they’re now having awkward conversations with their other halves just now!
Not no-one.So what you're telling me is that no-one has a clue!
Why is everyone so up in arms about PoW electrical consumption? It uses less than gold mining, less than banking, indeed less than the tumble driers in the world. Besides, devices are only as green as the electricity they use. So if you charge EVs, which everyone hails as saving the planet, from a non-green energy source, it's not green at all. If you power a Bitcoin mine from a hydro plant, it's 100% green.
thank god.. I thought I was the only one... I tried to educate myself last night but gave up... Tulips, Luna.. ??None of this thread makes any sense. Does this mean I am officially old now?
Reminds me of 'Pure Green' off Blackadder
Using that logic every currency is a gamble. It’s like with most things - there are scam artists looking to get your money, and they promise returns that are out of the ordinary. Greedy fools bite and get bitten….Any 'currency' where a scammer can get into the vault and steal $180,000,000 of the currency's reserves feels like a pure gamble to me.
TechScape: How a cryptocurrency project lost $180m to a get-rich-quick scheme
In this week’s newsletter: Beanstalk held hundreds of millions of dollars’ worth of stable assets – until one lone attacker quickly, maybe even legally, bankrupted the scheme in minuteswww.theguardian.com
Using that logic every currency is a gamble. It’s like with most things - there are scam artists looking to get your money, and they promise returns that are out of the ordinary. Greedy fools bite and get bitten….
Then there are legitimate platforms making use of the currency but not protecting themselves well enough. These can get looted. It’s like putting your money in a bank vault box and they get broken into.
Its not about the currency itself.
We're seeing this now with the NFT crash. That was always going to happen. The mainstream world doesn't differentiate between NFTs and NFT Art; mention NFT and they think it's some shite cartoon.When investing, it is important to know the underlying value, and if valuation is a problem, then know the utility of the product and the propensity for that product to become mainstream. Anything else is pure speculation and will be punished heavily unless you just happen to be very lucky.
This is the point @Wattie - BTC's inherent design makes it a much better bet long term for the very reasons you shout Ponzi at traditional currency.
There will only ever be a finite amount of BTC. With QE, that's not the same with traditional currencies, and because addressing the problem is hardly a vote winner, the politicians just sit on their hands.
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This is the point @Wattie - BTC's inherent design makes it a much better bet long term for the very reasons you shout Ponzi at traditional currency.
There will only ever be a finite amount of BTC. With QE, that's not the same with traditional currencies, and because addressing the problem is hardly a vote winner, the politicians just sit on their hands.
Yes, BTC can rise and fall depending on whatever Elon Musk's puffed out of his bunghole onto his latest mid life crisis, but the long term future for the currency is stronger than most other 'real' currencies; people are getting paid in it, you can pay for stuff in normal places with it, etc. You can't just lob a gold bar at a cashier where you can now with BTC, to a certain extent.
I believe there is good money to still be made riding the waves but you need enough of a percentage to make it worth your while (bulk). Which means the finance big boys are involved, and why it is unlikely to fail because too many people that are far more important than us mere mortals will say it will.
It's a pity that all my money is tied up in the business account. Now would be a good time to take a dip in to BTC and ETH.
As for the rest... that's casino money.
Anyone calling crypto a Ponzi and citing greater fools theory just hasn’t done enough research. You don’t think the world is going digital and tokenised?
Not the first time this has happened......$460,000,000.Any 'currency' where a scammer can get into the vault and steal $180,000,000 of the currency's reserves feels like a pure gamble to me.
TechScape: How a cryptocurrency project lost $180m to a get-rich-quick scheme
In this week’s newsletter: Beanstalk held hundreds of millions of dollars’ worth of stable assets – until one lone attacker quickly, maybe even legally, bankrupted the scheme in minuteswww.theguardian.com
Anyone calling crypto a Ponzi and citing greater fools theory just hasn’t done enough research. You don’t think the world is going digital and tokenised?