Are members invested in Bitcoin/crypto?

Bugbait · Aug 25, 2021

Observer
Blockchain transactions are transparent and very public. You can’t get away with anything there. The vast majority of financial crime is committed using the US dollar and second place isn’t even close.

This has been covered and is not entirely true. Just look at what information is visible on the public ledger. This provides almost no context and the true owners of the accounts are obscured from the public. There is no real transparency here unless the account holder name and address are attached, although even then it can be falsified. No different to non-crypto transactions really but not any better either. Well the AML regulations apply more stringently to non-crypto transfers.

Watch some of the scam videos out of Nigeria and more so India. They swap from gift cards to crypto back to fiat, a simple form of layering all caught on video. Without context in how these "statistics" are calculated it's very easy to misinterpret them.

Invest as you like but let's keep the mis-information to a minimum?

EDIT: Typo.

Walrus · Aug 25, 2021

Bugbait
This has been covered and is not entirely true. Just look at what information is visible on the public ledger. This provides almost no context and the true owners of the accounts are obscured from the public. There is no real transparency here unless the account holder name and address are attached, although even then it can be falsified. No different to non-crypto transactions really but not any better either. Well the AML regulations apply more stringently to non-crypto transfers.

Watch some of the scam videos out of Nigeria and more so India. They swap from gift cards to crypto back to fiat, a simple form of layering all caught on video. Without context in how these "statistics" are calculated it's very easy to misinterpret them.

Invest as you like but let's keep the mis-information to a minimum?

EDIT: Typo.

Hopefully it’s that Nigerian prince getting together that 300,000k in cash he owes me from that email he sent me promising me all that cash if I gave him my banking account #. Don’t tell me they are scamming with crypto now as well.

Bugbait · Aug 25, 2021

Walrus
Hopefully it’s that Nigerian prince getting together that 300,000k in cash he owes me from that email he sent me promising me all that cash if I gave him my banking account #. Don’t tell me they are scamming with crypto now as well.

You mean the compensation they're offering you by helping them get their millions in inheritance? 😝

Walrus · Aug 25, 2021

Bugbait
You mean the compensation they're offering you by helping them get their millions in inheritance? 😝

Ya I couldn’t believe they picked me out of all the people in the world

Walrus · Sep 1, 2021

So I know there are only a small amount crypto followers here that’s cool and respect to the anti crypto crew, I was one for a while but wtf happened today. What shot eth up that much in 15 minutes? And solona, up 6,400% in a year. I got a little cause I saw that “50,000 transactions per second” but then saw it was a “claim”. I staked most of what I could but held some eth back incase a crazy run took place. I had too much going on today to see if there was any news to justify these crazy moves. Got home and looked not finding much so is it fomo? Ha ha I been holding so long I know these questions don’t have easy answers. What a strange day that was.

Dsloan · Sep 1, 2021

Walrus
So I know there are only a small amount crypto followers here that’s cool and respect to the anti crypto crew, I was one for a while but wtf happened today. What shot eth up that much in 15 minutes? And solona, up 6,400% in a year. I got a little cause I saw that “50,000 transactions per second” but then saw it was a “claim”. I staked most of what I could but held some eth back incase a crazy run took place. I had too much going on today to see if there was any news to justify these crazy moves. Got home and looked not finding much so is it fomo? Ha ha I been holding so long I know these questions don’t have easy answers. What a strange day that was.

No big catalyst, today. Fervor around NFTs may have played a role, but it was also consolidating for about a month and finally broke out. I bet ATH relatively soon.

Observer · Sep 2, 2021

Walrus
So I know there are only a small amount crypto followers here that’s cool and respect to the anti crypto crew, I was one for a while but wtf happened today. What shot eth up that much in 15 minutes? And solona, up 6,400% in a year. I got a little cause I saw that “50,000 transactions per second” but then saw it was a “claim”. I staked most of what I could but held some eth back incase a crazy run took place. I had too much going on today to see if there was any news to justify these crazy moves. Got home and looked not finding much so is it fomo? Ha ha I been holding so long I know these questions don’t have easy answers. What a strange day that was.

There are some blockchains like Cardano and Solana that are just starting to get fired up. Increasing ETH gas has probably helped drive interest in alternatives, too. Polkadot and Kusama parachain auctions are getting attention. Cosmos is moving…. Not a bad time to own BTC and ETH, but not a bad time to be diversified, either.

Walrus · Sep 2, 2021

Observer
There are some blockchains like Cardano and Solana that are just starting to get fired up. Increasing ETH gas has probably helped drive interest in alternatives, too. Polkadot and Kusama parachain auctions are getting attention. Cosmos is moving…. Not a bad time to own BTC and ETH, but not a bad time to be diversified, either.

ETH, BTC and XLM are kinda my core holdings but yes that cardano I picked up grew like I never expected and Solana has just been outright sick. I had a weird thing happen on Reddit I got invited to a private invitation only sub for people who hold a “million and over” in crypto. Now to be clear I don’t have a million in crypto, although that would be much wow, so I just interact with and read what these guys are doing and they are trading hundreds of thousands in coins I never heard of. I tried following a couple moves they were doing but they are also on all these weird exchanges that aren’t “legal” in my state. Just as well I’m sure I’d be broke in a day if I was doing such massive speculation like they are but they can pretty much move these things in some cases. So I can’t follow all that but the ones that aren’t doing pump and dumps are pretty bright it seems and they can break down white papers and make cases for what has promise and what doesn’t.

So I agree, I’ll probably lean more towards the “conservative” crypto, ha ha sounds funny to say conservative crypto, but what the hec why not try out some of the other projects that may have promise. I mean 6,400% on Solana, Cardano has doubled several times since I got it, Maker Dao and then 20 or so things I got in airdrops and forks or someone sent me to introduce me to it. I just got into this “feed the homeless” charity completely legit and tax deductible run with ethereum. That’s cool to see.
It’s not for everyone but I like to see it doing some good it was the tech and the libertarian streak that brought me to it. I would have laughed if you told me ethereum would be at 3,800 or btc 50k back then. Well laughed and kicked myself for not getting more when it actually came true but I do that anyway. How the hec was I supposed to know back then. Even when ethereum was 80 and Bitcoin was 1,800 or whatever people were screaming “it’s going to zero it’s worthless”. Those voices never stopped.

Edit: excuse the long babble I get loquacious when I’m tired I’ll delete it later when I review it for stupidity

kev1976t · Sep 7, 2021

My god that was some drop in btc today.... 10k.....
Having been slowly rising over the last few weeks, i wasnt expecting an afternoon like that one.

I wonder what they made of that in El Salvador ?

321Only · Sep 8, 2021

buy the dip and hodl. don't trade with leverage

Spacefruit · Sep 8, 2021

kev1976t
My god that was some drop in btc today.... 10k.....
Having been slowly rising over the last few weeks, i wasnt expecting an afternoon like that one.

I wonder what they made of that in El Salvador ?

As someone who has been in this for a while, I was.

Look instead at 12 month changes.

mzzleather · Sep 8, 2021

I think El Salvador will pull through. Its go big or go home

Walrus · Sep 8, 2021

Spacefruit
As someone who has been in this for a while, I was.

Look instead at 12 month changes.

Ha ha Sunday night I sent my buddy a text telling him looking at this chart I can see a 20% pullback and the “bitcoins dead shouts” start until the next run. I did not mean to say it would happen so shortly after my prediction, that was just “luck” but that was quite parabolic and it seems you get used to these things over the years. It can be a used to sell and buy the dip but it is so easy to price yourself out as you can get general ideas but timing things perfectly, for me anyway, only happens by mistake.

Observer · Sep 8, 2021

kev1976t
My god that was some drop in btc today.... 10k.....
Having been slowly rising over the last few weeks, i wasnt expecting an afternoon like that one.

I wonder what they made of that in El Salvador ?

What a coincidence that crypto just happens to dump on the day El Salvador adopts BTC as legal tender alongside the USD.

Not that it matters. Volatility is just part of the ride as long as we’re still in price discovery.

Spacefruit · Sep 9, 2021

Also check out the Reddit Coinbase thread.

Coinbase has been freezing accounts of moderate size users, leaving no recourse. As the largest gateway into crypto, that's also having a slowing effect on trade. People are leaving Coinbase in droves, as they find they can't convert back to FIAT.

To me, it is simply driving a bigger wedge between the crypto world and the fiat one.

I see the future as polarized - between those who use Bitcoin and those who use FIAT. The issues will always be where the two meet - because FIAT might be terminally flawed. Those who run FIAT dont want an exchange.

Or, compartmentalized. Imagine a world where currencies are not issued by central banks, they are issued by corporations like Amazon, or Google. Entire cities could be corporate and self-contained financially, where you shop at a Google Grocer and see a Google Doctor, paying with Google Bucks. All with Google ID. Without the G-bucks, and G-ID you are out of their system. It could be all about people aligning with corporations, not countries.

It may matter not that you are an American Citizen, or an Afghan one. It could matter that you are employed by Google, and have Google Bucks, for your Google city. (Or PayPal city, or Halliburton city, or even Walmart).

So now I see why countries fight so hard to protect their currencies. Without currencies, the population don't need them.

Archer · Sep 9, 2021

Spacefruit
Imagine a world where currencies are not issued by central banks, they are issued by corporations like Amazon, or Google. Entire cities could be corporate and self-contained financially, where you shop at a Google Grocer and see a Google Doctor, paying with Google Bucks. All with Google ID. Without the G-bucks, and G-ID you are out of their system. It could be all about people aligning with corporations, not countries.

It may matter not that you are an American Citizen, or an Afghan one. It could matter that you are employed by Google, and have Google Bucks, for your Google city. (Or PayPal city, or Halliburton city, or even Walmart).

So now I see why countries fight so hard to protect their currencies. Without currencies, the population don't need them.

And if this is the future, I hope they fight to the death. The very last thing that I would want is my entire life controlled by a for profit company. That is the sort of dystopian future that sci-fi movies are about, and it won't be good for people or the planet.

eugeneandresson · Sep 9, 2021

Archer
and it won't be good for people or the planet.

Well…current ‘state of humanity’ and ‘control’ is also not doing the people or planet good…somethings gotto give and lots has to ‘get better’.

My vote : ElonBucks and ElonVille 😀

Archer · Sep 9, 2021

eugeneandresson
Well…current ‘state of humanity’ and ‘control’ is also not doing the people or planet good…somethings gotto give and lots has to ‘get better’.

My vote : ElonBucks and ElonVille 😀

Yes, but putting it under for profit companies, who's obligations are to shareholders (not citizens) isn't an answer I'm interested in exploring personally.

321Only · Sep 10, 2021

Archer
Yes, but putting it under for profit companies, who's obligations are to shareholders (not citizens) isn't an answer I'm interested in exploring personally.

Politicians serve themselves first, not the citizens. I don’t see how that’s any better than a company serving shareholders.

Archer · Sep 10, 2021

321Only
Politicians serve themselves first, not the citizens. I don’t see how that’s any better than a company serving shareholders.

Democracy isn’t perfect by any means, but politicians still have to be elected.

Unless you are a shareholder, you won’t have a voice with a corporation...