Cryptocurrency - a few tips from an old hand

[POWER2]

You cult members think THIS is the future of money LOL

Even if it was true, corporations will have the advantage because

• they control the hardware for mining
• they control the internet, which is essential to mining
• they control the security of the internet, which means they steal or allow theft of bitcoins any.fucking.time.they.want
• they can always amass more mining power or form alliances
• they also have more capital to invest in existing bitcoins if they don't want to mine.
• they can simply kill you if the number of wealthy bitcoin owners pose a true economic threat to any nation or the global economy as they prefer it to exist. or they can compel a government to do it for them.

the electronic money revolution IS coming, but it won't be decentralized to any degree to benefit you.

also, did you dipsticks every consider that a corporation actually invented bitcoin, but used a backstory to get you to throw your money away on it? LOL

 

[BJ@LW&WW]

Haven't seen the bitcoin thread for a while. How's that 20k by end of 2018 going? Or was it 100k? Haven't been keeping up with the news.

it did actually hit 20k at the peak of its craze

Can't believe people still have their wagons hitched to this. I got in and out quickly. Shit is too volatile and nowhere near as easy as debit/credit/cash.

actually, before the recent drop things had been pretty stable for a few months, once the general public stopped following it


no doubt bitcoin will crash eventually though. i think there was a recent scientific publication that said it cost more money to mine bitcoin than it does to mine for precious metals.

 

[Nik123]

If the global economy fails, rendering paper "fiat" money useless...all the major businesses of the world, like grocery store chains, universities and hospitals, will fail too

.. rendering cryptocurrency worthless as well LOL

Easy on the GIFs mate, what are you - 10 years old?

No - I doubt it plays out like that. Fiat is bound to fail sooner or later. But that does not mean there is no more medium of exchange. We will likely have digital state sponsored currencies - the idea is already being talked about at the IMF.

And as part of this new digital world, digital assets will have a key place. It's already happening. How or why you ask?

- Morgan Stanley has come out and clearly said (for the first time ever): that cryptoassets are a 'new institutional asset class'

- Yale University which has the second biggest endowment fund after Harvard (worth billions) has just invested a portion of that fund into Crypto

- Fidelity, the worlds largest asset manager (7 trillion under management) is going to open a crypto asset trading and investing service in Q1 2019

- Bakkt (owned by ICE - who owns the New York Stock Exchange) is opening its own crypto investing platform this year

- The US SEC is reviewing several Bitcoin ETFs, one of which is backed by the Chicago Board of Exchange

- Bloomberg (amongst many others) is launching a crypto index fund

- And all of the above is just US based, there is more crypto activity happening in Asia and other parts of the world than you can shake a stick at (just a small example being hundreds of top names and talent leaving traditional tech and finance to join crypto start ups)

The writing is on the wall that crypto is the future and is here to stay. It's slapping you in the face. If you can't see it, hey your loss (this is sherdog after all, the epicentre of true genius minds).

As they say, you can bring a horse to the water....but if the fucker wants to die of dehydration, so be it. 'LOL'

 

[JonesBones]

You cult members think THIS is the future of money LOL

Even if it was true, corporations will have the advantage because

• they control the hardware for mining
• they control the internet, which is essential to mining
• they control the security of the internet, which means they steal or allow theft of bitcoins any.fucking.time.they.want
• they can always amass more mining power or form alliances
• they also have more capital to invest in existing bitcoins if they don't want to mine.
• they can simply kill you if the number of wealthy bitcoin owners pose a true economic threat to any nation or the global economy as they prefer it to exist. or they can compel a government to do it for them.

the electronic money revolution IS coming, but it won't be decentralized to any degree to benefit you.

also, did you dipsticks every consider that a corporation actually invented bitcoin, but used a backstory to get you to throw your money away on it? LOL

Exactly right. The governments of the world will not allow this secondary/competing monetary system to exist beside their own. It is a pipe dream. It is just another fantasy of overthrowing the government or revolution.

 

[POWER2]

Easy on the GIFs mate, what are you - 10 years old?

No - I doubt it plays out like that. Fiat is bound to fail sooner or later. But that does not mean there is no more medium of exchange. We will likely have digital state sponsored currencies - the idea is already being talked about at the IMF.

And as part of this new digital world, digital assets will have a key place. It's already happening. How or why you ask?

- Morgan Stanley has come out and clearly said (for the first time ever): that cryptoassets are a 'new institutional asset class'

- Yale University which has the second biggest endowment fund after Harvard (worth billions) has just invested a portion of that fund into Crypto

- Fidelity, the worlds largest asset manager (7 trillion under management) is going to open a crypto asset trading and investing service in Q1 2019

- Bakkt (owned by ICE - who owns the New York Stock Exchange) is opening its own crypto investing platform this year

- The US SEC is reviewing several Bitcoin ETFs, one of which is backed by the Chicago Board of Exchange

- Bloomberg (amongst many others) is launching a crypto index fund

- And all of the above is just US based, there is more crypto activity happening in Asia and other parts of the world than you can shake a stick at (just a small example being hundreds of top names and talent leaving traditional tech and finance to join crypto start ups)

The writing is on the wall that crypto is the future and is here to stay. It's slapping you in the face. If you can't see it, hey your loss (this is sherdog after all, the epicentre of true genius minds).

As they say, you can bring a horse to the water....but if the fucker wants to die of dehydration, so be it. 'LOL'

Exactly right. The governments of the world will not allow this secondary/competing monetary system to exist beside their own. It is a pipe dream. It is just another fantasy of overthrowing the government or revolution.

 

[Benjamin Burton]

If you would have followed the advice of the OP you would be down at least 75%. He is a charlatan.

Buy stocks in real companies. Amazon. Apple. etc Even WWE. WWE had nice year. Way better than shitcoin

well unfortunately the stock market right now is where bitcoin was when op was talking about it

look at amazon it hit 2 grand now its down to 1600 dollars it probably wont hit 2g again for a few years

 

[Orgasmo]

well unfortunately the stock market right now is where bitcoin was when op was talking about it

look at amazon it hit 2 grand now its down to 1600 dollars it probably wont hit 2g again for a few years

AMZN was at $1000 at the same point last year, and unlike these scam coins, stock actually give you part ownership of a company as well as dividends on their profits. The only thing these coins are good for is driving global warming through massive energy use. You can't even use them as alternative currency since they are so volatile. You buy these coins hoping their value would increase, as the next guy will buy them off of you for a higher price. That's antithesis to a stable trading medium.

 

[Rjay]

(this is sherdog after all, the epicentre of true genius minds).

As they say, you can bring a horse to the water....but if the fucker wants to die of dehydration, so be it. 'LOL'

Indeed, including your good self, the blockchain genius of sherdog. So let's take a quick gander at your big predictions from the very first post shall we?

Ethos: Down -94.7% off peak.

Power Ledger's token: -93.4% off peak

BitDegree: -96.2% off peak. Is Bitdegree even still a going concern? They're offering their "degrees" 90% off. Hardly the sign of a booming business.

SingularityNet coin: -94.8%

Internet Node Token: -96.9%

So they're all now essentially worthless. Killer investment recommendations. But I'm sure they'll all come good..... eventually.

 

[ToxicShocker]

I can't help but wonder what's going through the people's minds that bought at 20k.

Bitcoin is all hype and lottery mania. There's 0 correlation to a successful product or earnings report so any wild growth is pure unadulterated speculation.

 

[Nik123]

Indeed, including your good self, the blockchain genius of sherdog. So let's take a quick gander at your big predictions from the very first post shall we?

Ethos: Down -94.7% off peak.

Power Ledger's token: -93.4% off peak

BitDegree: -96.2% off peak. Is Bitdegree even still a going concern? They're offering their "degrees" 90% off. Hardly the sign of a booming business.

SingularityNet coin: -94.8%

Internet Node Token: -96.9%

So they're all now essentially worthless. Killer investment recommendations. But I'm sure they'll all come good..... eventually.

Sigh. One by one they come out of the woodwork, with the same simplistic point. I’ll keep this simple - as I’ve already stunned your fellow geniuses into silence with the same basic logic and investing 101 lesson. Let me walk you through it.

Every single crypto is down - that’s over 2000 projects. Why single out my picks? I’m comfortable with mine - in fact I’ve bought more and added more picks to my position.

Not just that - in case you haven’t noticed genius, the stock market is down, the real estate market down,....it’s called a market cycle.

And here’s the beauty - Every single one of my picks is making huge progress (but of course you would know this if you kept up to date with their dev teams). Slick working products released, partnerships formed behind the scenes.

Ultimately it’s comically clear that the only argument the uneducated naysayers have is the simplistic (‘durr price down 80%’). Well heres a shocker - it’s completely irrelevant that the price is down currently. Why you ask Rjay?

Two reasons. 1. This is just 8-9 months into what is a long term investment (5-10 years) - so like any actual investor with half a brain, I take a long term view and don’t jump up and down with my panties wet every few months. Especially in the most volatile market on earth where there have already been over 20 90% drops over the last 7 years - but gains have been 10000% more.

2. Current price movements are based purely on speculation, market manipulation and market bots. So the ups and downs are largely meaningless. Now that the projects are actually releasing working products and real value and institutional investors are slowly marching in - speculative value will be replaced by utility value and this is when the real price action will start.

This is the J curve of adoption that every single disruptive technology has followed since the inception of the stock market in Amsterdam 500 years ago (which was rife with market manipulation and speculative price mania when it first started). Crypto is following the exact same pattern, and I’m happy as a pig in shit about my investments. Current price down? Fucking great!! There were naysayers with no clue crying when Apple, Google etc had massive downwards price movements early in their lives. There were naysayers calling the internet a scam - and the railroads and telephones before that.

Now I’m done hand holding basic folk, you don’t want to invest and think it’s a scam? Good on you, opinions are like areholes- everyone has one!

As for me, I’m loving this and have added 2 juicy picks to my portfolio.mmmmmm

 

[Terry Noonan]

Lol at still believing crypto hype.....

You’ve lost 90% thus far. It’s not rebounding.

 

[Bamboshi]

Lol at still believing crypto hype.....

You’ve lost 90% thus far. It’s not rebounding.

It will rebound sooner or later

 

[Tuf_guy]

You cult members think THIS is the future of money LOL

Even if it was true, corporations will have the advantage because

• they control the hardware for mining
• they control the internet, which is essential to mining
• they control the security of the internet, which means they steal or allow theft of bitcoins any.fucking.time.they.want
• they can always amass more mining power or form alliances
• they also have more capital to invest in existing bitcoins if they don't want to mine.
• they can simply kill you if the number of wealthy bitcoin owners pose a true economic threat to any nation or the global economy as they prefer it to exist. or they can compel a government to do it for them.

the electronic money revolution IS coming, but it won't be decentralized to any degree to benefit you.

also, did you dipsticks every consider that a corporation actually invented bitcoin, but used a backstory to get you to throw your money away on it? LOL

fucking idiots getting played by trickery from suits.

Meanwhile the smart ones are raking it in

 

[Rjay]

Sigh. One by one they come out of the woodwork, with the same simplistic point. I’ll keep this simple - as I’ve already stunned your fellow geniuses into silence with the same basic logic and investing 101 lesson. Let me walk you through it.

Every single crypto is down - that’s over 2000 projects. Why single out my picks? I’m comfortable with mine - in fact I’ve bought more and added more picks to my position.

Not just that - in case you haven’t noticed genius, the stock market is down, the real estate market down,....it’s called a market cycle.

And here’s the beauty - Every single one of my picks is making huge progress (but of course you would know this if you kept up to date with their dev teams). Slick working products released, partnerships formed behind the scenes.

Ultimately it’s comically clear that the only argument the uneducated naysayers have is the simplistic (‘durr price down 80%’). Well heres a shocker - it’s completely irrelevant that the price is down currently. Why you ask Rjay?

Two reasons. 1. This is just 8-9 months into what is a long term investment (5-10 years) - so like any actual investor with half a brain, I take a long term view and don’t jump up and down with my panties wet every few months. Especially in the most volatile market on earth where there have already been over 20 90% drops over the last 7 years - but gains have been 10000% more.

2. Current price movements are based purely on speculation, market manipulation and market bots. So the ups and downs are largely meaningless. Now that the projects are actually releasing working products and real value and institutional investors are slowly marching in - speculative value will be replaced by utility value and this is when the real price action will start.

This is the J curve of adoption that every single disruptive technology has followed since the inception of the stock market in Amsterdam 500 years ago (which was rife with market manipulation and speculative price mania when it first started). Crypto is following the exact same pattern, and I’m happy as a pig in shit about my investments. Current price down? Fucking great!! There were naysayers with no clue crying when Apple, Google etc had massive downwards price movements early in their lives. There were naysayers calling the internet a scam - and the railroads and telephones before that.

Now I’m done hand holding basic folk, you don’t want to invest and think it’s a scam? Good on you, opinions are like areholes- everyone has one!

As for me, I’m loving this and have added 2 juicy picks to my portfolio.mmmmmm

Ok this is real good, the amount of mental gymnastics to make this work is a truly fascinating insight onto the psychology of denial.

"The stock market is down, the housing market is down". Over 2018 both the Dow and S&P are up ~2.5%. Median/average house prices are flat.

Your big picks are down 95%. NINETY FIVE PERCENT.

So the housing and stockmarket are essentially flat. Your investments have essentially ceased to exist.

Investing 101 lesson: 95% off peak is a large number. I'd love to know how much you'd lost over this. Now for the most of the investing world this would be considered a somewhat negative development. But this is crypto, so this time it's different! No money? No problem! Because blockchain! It's going to change the world, because..... blockchain! It just will!

I also must have missed the part where Alphabet ect lost 95% of their shareprice. They were also real companies, with real revenues, with real business models. Btw, your supposed "political power" for Power Ledger isn' the Mayor of Perth, but an academic at a local second string university and a mere local councilor. You mention of Amsterdam was rather apt. I can see this conversation happening ~400 years ago. "I know my tulip bulbs have lost 95% of their value, but fucking great! I've added 2 juicy new bulbs to my portfolio.mmmmmm!"

But hey, at the end of the day it's your money. I wouldn't say I wish you good luck, but I sure am enjoying watching the shitshow unfold.

 

[My2Cents]

Easy on the GIFs mate, what are you - 10 years old?

No - I doubt it plays out like that. Fiat is bound to fail sooner or later. But that does not mean there is no more medium of exchange. We will likely have digital state sponsored currencies - the idea is already being talked about at the IMF.

And as part of this new digital world, digital assets will have a key place. It's already happening. How or why you ask?

- Morgan Stanley has come out and clearly said (for the first time ever): that cryptoassets are a 'new institutional asset class'

- Yale University which has the second biggest endowment fund after Harvard (worth billions) has just invested a portion of that fund into Crypto

- Fidelity, the worlds largest asset manager (7 trillion under management) is going to open a crypto asset trading and investing service in Q1 2019

- Bakkt (owned by ICE - who owns the New York Stock Exchange) is opening its own crypto investing platform this year

- The US SEC is reviewing several Bitcoin ETFs, one of which is backed by the Chicago Board of Exchange

- Bloomberg (amongst many others) is launching a crypto index fund

- And all of the above is just US based, there is more crypto activity happening in Asia and other parts of the world than you can shake a stick at (just a small example being hundreds of top names and talent leaving traditional tech and finance to join crypto start ups)

The writing is on the wall that crypto is the future and is here to stay. It's slapping you in the face. If you can't see it, hey your loss (this is sherdog after all, the epicentre of true genius minds).

As they say, you can bring a horse to the water....but if the fucker wants to die of dehydration, so be it. 'LOL'

Nice Sum up!!

 

[Nik123]

Ok this is real good, the amount of mental gymnastics to make this work is a truly fascinating insight onto the psychology of denial.

"The stock market is down, the housing market is down". Over 2018 both the Dow and S&P are up ~2.5%. Median/average house prices are flat.

Your big picks are down 95%. NINETY FIVE PERCENT.

So the housing and stockmarket are essentially flat. Your investments have essentially ceased to exist.

Investing 101 lesson: 95% off peak is a large number. I'd love to know how much you'd lost over this. Now for the most of the investing world this would be considered a somewhat negative development. But this is crypto, so this time it's different! No money? No problem! Because blockchain! It's going to change the world, because..... blockchain! It just will!

I also must have missed the part where Alphabet ect lost 95% of their shareprice. They were also real companies, with real revenues, with real business models. Btw, your supposed "political power" for Power Ledger isn' the Mayor of Perth, but an academic at a local second string university and a mere local councilor. You mention of Amsterdam was rather apt. I can see this conversation happening ~400 years ago. "I know my tulip bulbs have lost 95% of their value, but fucking great! I've added 2 juicy new bulbs to my portfolio.mmmmmm!"

But hey, at the end of the day it's your money. I wouldn't say I wish you good luck, but I sure am enjoying watching the shitshow unfold.

I’ll keep this really really simple for you RJay. Almost every single crypto is down 95%. Apple at one point was down similar amounts early in its lifecycle. It’s called speculative value. Eventually replaced by real utility value.

And no shit crypto is volatile. Such clever insight Rjay. The market is down 95% since the start of the bear market this year but up 1500% since two years ago. But my bad, I forgot you can’t see beyond the short term. Because as we all know - using a short term lens is the cleverest thing to do when assessing an emerging, volatile asset class. What a clown.

Oh and your little dig at Power Ledger. Cute but comically misinformed.

First, the project lead WAS Acting Lord Mayor of Perth.

https://mobile.abc.net.au/news/2017-10-25/who-is-new-perth-deputy-mayor-jemma-green/9085746

Secondly, amongst numerous other developments- Power Ledger recently won a tech start up funding completion award from Richard Branson (pics/articles all over the internet on this), who is now a backer. They are announcing partnership after partnership - working closely with multiple governments. But no - we should listen to sherdog poster Rjay’s ramblings about how it’s all a scam instead lol.

And I could be down 195% in the short term and couldn’t care less - for all the reasons I have lovingly, patiently explained to you. But you keep going in pointless circles, like a dog chasing its tail. So I will leave you chasing that tail - hey, it’s your life.

Do some research, read a book. Get your mind off other people’s investments - it will do you well.

It’s okay- You are loved x

 

[Nik123]

Nice Sum up!!

Thanks man. Some people struggle with basic facts, I’m here to help ; )

 

[Omegaboy13]

I’ll keep this really really simple for you RJay. Almost every single crypto is down 95%. Apple at one point was down similar amounts early in its lifecycle. It’s called speculative value. Eventually replaced by real utility value.

Oh and your little dig at Power Ledger. Cute but comically misinformed. They recently won a tech start up funding completion award from Richard Branson, who is now a backer. They are announcing partnership after partnership - working closely with multiple governments. But no - We should listen to sherdog poster Rjay’s ramblings instead lol.

And it could be down 195% in the short term and I couldn’t care less - for all the reasons I have lovingly, patiently explained to you. But you keep going in pointless circles, like a dog chasing its tail. So I will leave you chasing that tail - hey, it’s your life.

Do some research, read a book. Get your mind off other people’s investments - it will do you well.

It’s okay- You are loved x

Yeah man, I’ve been telling people the same thing about my Blockbuster stock for years.

 

[Nik123]

Yeah man, I’ve been telling people the same thing about my Blockbuster stock for years.

Was Blockbuster going to disrupt the status quo? Oh my bad man, it actually GOT disrupted by Netflix - which would be a more appropriate analogy here. Appreciate your contribution though man.

 

[Omegaboy13]

Was Blockbuster going to disrupt the status quo? Oh my bad man, it actually GOT disrupted by Netflix - which would be a more appropriate analogy here. Appreciate your contribution though man.

No problem. It was more a funny way of saying that a 95+% loss is not indicative of a change in the status quo (Or of a company on the rebound). But apparently a “195%” loss would be just the same to you, similar to Blockbuster shareholders who thought that the company had the liquid assets necessary to oust Netflix with a change in fundamental operation. You can be delusional on an island all by yourself, but please stop trying to sell the snake oil to other poor people like yourself.