Crypto Megathread V15 - Where the hits keep on coming!

[Strychnine]

Are diamonds or rare earth metals currencies and preferred methods of transactions by non-criminals?

<[analyzed}>

Sure! Businesses trade material all the time.

 

[Prefect]

I mean diamonds aren't rare at all people are just told they are.....

You mean they are hoarded by a few whales to artificially increase their value. Where have I heard that before? Oh shit. I forgot.

 

[ThinkGreen]

Vechain order at 6.5 cents filled, let’s go. Prices really dipping these last few days.

 

[Rygu]

Vechain order at 6.5 cents filled, let’s go. Prices really dipping these last few days.

Nice, that's what got it at too earlier. It's even slightly cheaper now

Buy the fear sell the greed right?

 

[Woldog]

You mean they are hoarded by a few whales to artificially increase their value. Where have I heard that before? Oh shit. I forgot.

What is your point, nothing has value unless people decide it does...

 

[Rygu]

 

[Prefect]

What is your point, nothing has value unless people decide it does...

You made my point. Artificial value being created by artificial scarcity.

You can go further down the rabbit hole that a bitcoin can be divided into a 100 million pieces. Saying that bitcoin has a scarcity limit so it should be tremendously stable would be similar to saying the dollar should be stable due to there t being 2,000 divisible billion dollar notes in circulation. Bitcoin having a limit of 21 million bitcoin has no meaning when its smallest divisible unit is 100 millionth of a coin and it will have whatever settled worth. Going from 10 million to 20 million bitcoin doesn't change anything. More mining doesn't make the coin more legitimate or useful when it is designed to be incredible divisible. It is possible to have 21 quadrillion partial units of bitcoin. There already more than enough divisible piece to serve whatever without the need for additional mining. But here we are, mining fiat currency as if mining gives it value.

 

[Woldog]

You made my point. Artificial value being created by artificial scarcity. You can go further down the rabbit whole that a bitcoin can be divided into a 100 million pieces. Saying that bitcoin has a scarcity limit so it should be tremendously valuable would be similar to saying the dollar should be stable due to there only being 10 thousand billion dollar bills. 21 million

Actually Artificial scarcity has nothing to do with the point I was making.... because we buy products every day that aren't scarce and pay big money for them.

 

[Rygu]

You made my point. Artificial value being created by artificial scarcity.

You can go further down the rabbit hole that a bitcoin can be divided into a 100 million pieces. Saying that bitcoin has a scarcity limit so it should be tremendously stable would be similar to saying the dollar should be stable due to there t being 2,000 divisible billion dollar notes in circulation. Bitcoin having a limit of 21 million bitcoin has no meaning when its smallest divisible unit is 100 millionth of a coin and it will have whatever settled worth. Going from 10 million to 20 million bitcoin doesn't change anything. More mining doesn't make the coin more legitimate or useful when it is designed to be incredible divisible. It is possible to have 21 quadrillion partial units of bitcoin. There already more than enough divisible piece to serve whatever without the need for additional mining.

Isn't a loaf of bread in Zimbabwe like 10 quadrillion Zimbabwean dollars?

Mind you, at one point in 2009 their inflation rate hit a stellar 89,700,000,000,000,000,000,000%

True story

 

[Prefect]

Isn't a loaf of bread in Zimbabwe like 10 quadrillion Zimbabwean dollars?

If you doubled the supply of U.S. dollars in circulation, would that somehow double the total sum value of all the U.S. dollars? Why does making anymore bitcoin change anything if printing money doesn't make you more wealthy? It is like somehow people think that bitcoin is a physical asset and forget it is just another fiat currency. We had over a quadrillion pieces of bitcoin the first month it was mined in 2009.

 

[Omegaboy13]

Another tip to research Clover Finance before it rebounds back to 2.5-3.

 

[Cid]

Most of here have been preaching to never invest what you can’t afford to lose. Never go all in, even if you are convinced it’s a sure thing. Gold is probably the safest investment, but I wouldn’t even put all my money into that.

Bad advice. I have around 97-98% of my capital invested. Perfectly safe.

What do people do with their money that isn't invested?

Rhetorical question, we both know the answer.

They Bank it. Maybe they hide it under their mattress.

What is the only "investment" that is guaranteed to under perform inflation?

A Bank account.


So when you say don't invest more than you can afford to lose what you're effectively saying is put a large % or most of your money in the only place where it's guaranteed to lose value.

I get what you're saying with it, I'd even go so far as to say the implied message is good advice for crypto.

But fuck me if I don't hate seeing or hearing people say it.

 

[TeTe]

I keep telling myself that I'm not going to buy anymore ETH but when I read stories about investors predicting $1000 ETH... I start thinking about going all in if that happens.

 

[Ballsaque]

You made my point. Artificial value being created by artificial scarcity.

You can go further down the rabbit hole that a bitcoin can be divided into a 100 million pieces. Saying that bitcoin has a scarcity limit so it should be tremendously stable would be similar to saying the dollar should be stable due to there t being 2,000 divisible billion dollar notes in circulation. Bitcoin having a limit of 21 million bitcoin has no meaning when its smallest divisible unit is 100 millionth of a coin and it will have whatever settled worth. Going from 10 million to 20 million bitcoin doesn't change anything. More mining doesn't make the coin more legitimate or useful when it is designed to be incredible divisible. It is possible to have 21 quadrillion partial units of bitcoin. There already more than enough divisible piece to serve whatever without the need for additional mining. But here we are, mining fiat currency as if mining gives it value.

If you doubled the supply of U.S. dollars in circulation, would that somehow double the total sum value of all the U.S. dollars? Why does making anymore bitcoin change anything if printing money doesn't make you more wealthy? It is like somehow people think that bitcoin is a physical asset and forget it is just another fiat currency. We had over a quadrillion pieces of bitcoin the first month it was mined in 2009.

Da fuck are you on about

 

[Rob Battisti]

I keep telling myself that I'm not going to buy anymore ETH but when I read stories about investors predicting $1000 ETH... I start thinking about going all in if that happens.

You and me both

 

[TheMaster]

I keep telling myself that I'm not going to buy anymore ETH but when I read stories about investors predicting $1000 ETH... I start thinking about going all in if that happens.

You and me both

People still sleeping on these two

A collaboration built for the future, not to be underestimated.


Can a world where Ethereum and Cardano-SingularityNET co-exist?

Maybe. But if I had to bet I would always go with the superior tech... in the tech sector.
https://thecryptodrip.com/singularity-net-trillion-dollar-blockchain/

 

[BB in Crazy!!!!]

Bad advice. I have around 97-98% of my capital invested. Perfectly safe.

What do people do with their money that isn't invested?

Rhetorical question, we both know the answer.

They Bank it. Maybe they hide it under their mattress.

What is the only "investment" that is guaranteed to under perform inflation?

A Bank account.


So when you say don't invest more than you can afford to lose what you're effectively saying is put a large % or most of your money in the only place where it's guaranteed to lose value.

I get what you're saying with it, I'd even go so far as to say the implied message is good advice for crypto.

But fuck me if I don't hate seeing or hearing people say it.

Jesus, I meant primary in crypto. You can risk all your savings in it if you want. Stocks, bonds, gold, silver, 401k, retirement, even just a casual savings account and finally crypto, spreading it out.

IM throwing all my money in a few basket that could become worthless overnight, and that includes stocks. I have about %5 of my overall wealth in crypto and my biggest investment is my house. Invest in higher risk whatever you are comfortable with.I have thousands invested in crypto, if it crashes tomorrow I’m still in a situation where I don’t have to panic and can wait a few years before it comes back.

 

[God_Emperor_Of_Mankind]

Another tip to research Clover Finance before it rebounds back to 2.5-3.

Thanks, I made around a grand. Quick in and out though cause Grayscale unlocking tomorrow. Don't want to leave it in over the weekend.

 

[TeTe]

People still sleeping on these two
View attachment 868257
A collaboration built for the future, not to be underestimated.


Can a world where Ethereum and Cardano-SingularityNET co-exist?

Maybe. But if I had to bet I would always go with the superior tech... in the tech sector.
https://thecryptodrip.com/singularity-net-trillion-dollar-blockchain/

Well the good thing is, I already own ADA and it's still cheap enough to hoard a lot more of it.

In the meantime, it's hard to ignore the institutal investment in ETH recently. The whales are accumulating right before it becomes a deflationary asset. That means in the short to mid term ETH is bound to blow up thanks to new found scarcity.

Five years from now... Who knows. Maybe ADA will take over.... Or maybe it'll be a new tech we don't even know about.

 

[TeTe]

Lol at clover finance, I debated getting on that train. Guess I should have.