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  1. #1
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    Default The Crypto Gamble

    I did not want to post this viewpoint on the cryptocurrency thread as the guys there are entitled to their view point without my scepticism.
    But, the furver going on regards Crypto in my view is crazy.
    Reminds me of behaviour many of us have encountered previously.
    Think pyrimid schemes, Blue chip corp, etc, etc.
    It can not end well, unless the Fed, derivative bankers etc are in on the act.

  2. #2
    Guru Crypto Crude's Avatar
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    LOL
    BUZZ,

    Nah your crazy man you don't even consider what cryptocurrency represents and what it stands for... you just shrug your shoulders and say its a scam...

    crypto represents money markets, money supply, real world case assets, its ROI through staking, and next generation finance through DEFi... next level generation assets through NFTs... its a whole ecosystem of its own... its the new digital age where we become more connected with the internet ...its vertically and horizontally integration of these real world case assets which are going to change the World... Cardano is signing contracts with governments and so are many cryptos.... crypto distrupts supply chains so these multinational corporations lose their power and control over us...

    To say " it can not end well unless fed and bankers etc are in on the act" just really shows how little you understand...

    I'd even question if you have even really researched cryptocurrency at all!!!


    .. with crypto our processes will become more efficient taking power away from the multinationals , telecoms and power companies, wall street, and big business who are only out to profit themselves...
    ..!!!!
    Its far better off to empower yourself and not a large corporation
    ...

    Crypto cuts out the middle man... imagine if your bank, your Westpac or ANZ goes under taking all your bank deposits with it!...
    You risk your wealth on someone else's neglect... remember what happened in 2008 global financial crisis?.. Banks deceived their stakeholders by taking on far too risky sub prime mortgages and other assets for bigger return... and they were creaming it for their own pockets aswell
    How can an alternative to these examples not possibly be in your best interest...
    ... this is why mainstream has been slow to uptake but now they have little other choice...
    ....
    ..
    .
    Today I sent $15k us ish for 16cents and took 1 minute... being solely in control of my own assets is my dream... crypto is your dream too, you just don't know it...

    This is like the most amazing asset class the world has ever seen... crypto is changing peoples lives and the global economy all the time...... crypto could bring Africa out of poverty and give billions of people who don't have access to bank accounts a chance to get ahead.. ...

    Crypto keeps money markets more liquid so when there are supply shocks it won't shut financial markets down (like the GFC)...

    Crypto gives stakeholders better bargaining and scale through pooled community initiatives...


    I could go on and on and on and on and on....

    There is an unlimited amount of fiat currency chasing a limited amount of cryptocurrency...
    If you feel you only want to be in fiat currency then thats OK but don't make your stupidty other peoples problem...

  3. #3
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    Default

    You stick to your thread CC, there are a couple of people over there that agree with you. And good luck. Or should I say " come on baby! " as gamblers do.

  4. #4
    Guru Crypto Crude's Avatar
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    Default

    I'm not running away like you are....
    If we are dealing with the future of everything then we might aswell talk this out now!!


    You Instead should be more constructive and address the post... if you have any problems with what I've presented... how would you suggest we fix this broken World?
    You think we have to have the FED and bankers in this for it to work?
    Do you not think the old system is part of the problem and this new new could present a whole change to that future of everything?

    Maybe you think what I'm saying is wrong you might like to debate this stuff...

    How much actual research have you done??

    Have you looked into Cardano?
    Or Chainlink?
    Have you seen what these amazing new exchanges Polkadot and Uniswap are doing?
    Have you looked into defi?
    Have you heard about Binance?
    What about stable coins?

    Do you have any questions about crypto?

    Its time for you to man up...
    And to find proper answers because trust me your crypto ethic is about as thick as two planks and obviously lacking any real intelligible intent other than to lay slander
    ....
    ..
    Son...

  5. #5
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    Of course I think the current economic system is the problem, it is obvious.
    I would never be nieve enough to believe there is a snowballs chance in hell the financial establishment would sit back and tolerate cryptos survival, unless of course they want it to survive.
    Last edited by ynot; 25-02-2021 at 11:11 PM.

  6. #6
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by ynot View Post
    Of course I think the current economic system is the problem, it is obvious.
    I would never be nieve enough to believe there is a snowballs chance in hell the financial establishment would sit back and tolerate cryptos survival, unless of course they allow it.
    Or created it >> caught a piece on CNBC .. Asian head analyst being interviewed topic around forward outlook around Asian currencies and general market outlook in the area ...near the end of the piece the first interviewer put Crypto BTC to the analyst he stated it was far too volatile and not something they were interested in .... she keeped pushing the question the Guy looked kind of puzzled and went on talking about Yuan currency(aka real money) ... then second host yet again tried to get the guy to talk about BTC ... he again cut them short and stated wasn't something he was focused on .... then it was Goodbye ... I bet he won't be getting another interview ...

    CNBC must have many $$$ being pumped into their back pocket pushing the Crypto theme ... funny how its meant to be anti-establishment ...but everyday on the major MSM the pump continues
    Last edited by JBmurc; 25-02-2021 at 11:27 PM.
    People don't have ideas, ideas have people

  7. #7
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    Quote Originally Posted by JBmurc View Post
    Or created it >> caught a piece on CNBC .. Asian head analyst being interviewed topic around forward outlook around Asian currencies and general market outlook in the area ...near the end of the piece the first interviewer put Crypto BTC to the analyst he stated it was far too volatile and not something they were interested in .... she keeped pushing the question the Guy looked kind of puzzled and went on talking about Yuan currency(aka real money) ... then second host yet again tried to get the guy to talk about BTC ... he again cut them short and stated wasn't something he was focused on .... then it was Goodbye ... I bet he won't be getting another interview ...

    CNBC must have many $$$ being pumped into their back pocket pushing the Crypto theme ... funny how its meant to be anti-establishment ...but everyday on the major MSM the pump continues
    But thats where you are totally wrong jbmurc,
    Mainstream and mainstreet have predominately not invested into crypto yet...
    Just read all the media like nz herald and other publications they still post anti crypto stuff all the time... eg some man lost his keys, and person lost his passwords has 3 more cracks at it and so on...
    Anything possible to discredit crypto...
    And never positive news about it...

    A few institutions have invested but 99% of them have not made the moves (but it will all come later this year).... media will turn around its view on crypto late this year and turn mega positive and push it to the retail investors and then dump it on them in a savage bear market...
    Will cut the retail investors off like a neck in a noose...
    So when media, and mainstream goes bullish on crypto that will be the time to get out...
    ...
    ..
    So you watch one programme which is bullish but overall your perception about this is as far from the truth as possible !!!..

    This is yet more examples of sophisticated posters who become absolute howlers when it comes to the topic on cryptocurrency...

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    I've been passively watching crypto now for years and dismissed it after the last crypto crash in 2017 despite my initial enthusiasm. What I hadn't seen was all the movement around smart contracts in the previous year or so. After locking myself away for a few days and doing deep research into the cryptosphere I'd have to agree largely with CC 😂. The crypto ecosystem is revolutionary and is barely beginning to scratch the surface. It's not just "digital gold" anymore. The best analogy is....imagine if you could have bought shares in the internet in the 90's.... that's what buying cryptocurrency is now, especially crypto platforms like cardano, polkadot, and ethereum.

    Bitcoin itself is largely speculative and there's really no way to value it like you can with shares of a company, but as CC pointed out, the various crypto derivatives *can* be valued once people realize the efficiencies that can be realised thru removal of every middleman there is.

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    Default

    Another aspect of the crypto gamble I find intriguing is Elon Musks interest in cryptocurrency.
    Crypto fans are heralding Elon's encouragement to buy his product with Bitcoin. Why is that, could it be that he recently purchased $1.5 bil Bitcoin ? For all we know he could have sold his Bitcoin on for $2.5 bil last Friday.
    He is a shrewd operator, if it were not for the sale of his government funded REC's (renewable energy credits)to the big players in the auto industry, his company would actually be loosing money!
    I would suggest he is not so much in the electric car business but more in the ramp up the crypto game for his own rewards.
    Like I said previously to CC. Beware pyramid schemes.
    Hopefully he bailed on crypto on Friday also.

  10. #10
    FEAR n GREED JBmurc's Avatar
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    BTC at present $45,300 ... very close to breaking down through its daily BULL supertrend and turn to a BEAR daily supertrend ...
    last time it did this the price was $10900 .. or will it bounce and got to CC MOON >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>million trillion zillions
    People don't have ideas, ideas have people

  11. #11
    Guru Crypto Crude's Avatar
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    These corrections are normal... in the 2017 bull market there was 6 dips of more than 30%...
    Its because the gains are just so so savage that giving back alittle profit is normal....
    Me and paddles on the sidelines about to clean up a pup...

  12. #12
    Senior Member Entrep's Avatar
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    The definition of delusional: posting that BTC will go to zero, for several years, including since it was $4K, and thinking you have any credibility to comment on it again given what has transpired since.

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    Default

    Bitcoin = sell now.

  14. #14
    Guru Crypto Crude's Avatar
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    Quote Originally Posted by ynot View Post
    Bitcoin = sell now.
    LOL 😆
    You have absolutely no idea what your saying... what your thinking... what your doing...

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    One of the arguments rolled out is CC can be reserve currencies. Let me say that CC miss some critical attributes for reserve currency. 1 - Stability 2 - ability to use policy by a central body ie fiscal or monetary to aid stability(including printing more) 3 - Known issuer and assets(or ability to tax) to back it.

    CC fail on those requirements. Imagine you were either a central bank governor or politician. If you committed reserves and got smacked 20% in a day you lose your job(in some countries your life). same with businesses accepting it. If you accepted CC for payment you would immediately need to monetise, You cannot run the volatility. Your directors would fire the executive and the shareholders would fire the directors.

    News elsewhere, I hear IG Markets have frozen increasing positions. However I definitely know that CMC is increasing its margin requirements from 5% to 25% on Friday. In addition CMC limited total position over all CC to 200T pounds. NOT the sign of confidence or reserve currency status. The margin increase is stunning.

    So if someone is long $100,000 atm they need $5000 to support. From Friday they will need $25,000. Expect selling and reduced trading imo.

  16. #16
    Guru Crypto Crude's Avatar
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    Nice post dude,
    But who give a rats arse about your points in 1) 2) 3)...
    This is my chosen reserve currency and many other peoples aswell... I prefer it to be swinging more, I do not require stability...If I wanted stability I can use stablecoins or hedging... perhaps these twists more mimic the general state of global affairs anyway which is all over the show... Earth is in that much trouble we need it shaken up...
    Other asset classes move to slow for them to ever make a material impact on my financial well being... crypto is the dream... its changing the quality of my life so much... today I made more than $10k in a few hours, these are revolutionary assets...

    Stability including 'Printing more' is why crypto is becoming so popular now, people must understand that all this printing and fiat currency does not do that system any good people are starting to realise if governments can pay all the debt back from excessive printing... who is accountable anyway?
    I have studied finance and the numbers don't even add up anymore... we should be in a period of high inflation with all the money being printed...

    I care not about Central policy often those powers don't act in our best interests anyway...I prefer not to have a known issuer and rather not one entity controls it, and rather have the community decide on how to implement its governance as crypto does...
    ... governors or politicians, even corporates don't lose their jobs either man when things go bad...they just bail themselves out...

    Crypto might not totally replace fiat currency, but as a side asset class it was designed to provide added liquidity to money markets and is extremely useful for many functions including as a reserve currency and obviously the amazing technology behind it....

    The Crypto ecosystem is so diverse and goes so deep that it can be whatever you what it to be...

    Elon Musk is the richest man on Earth and has bitcoin on his balance sheet for a reason...

    .....
    ...
    .

    We can only hope that all systems in the future be different from systems in the past... it is a fact that governments and the whole money system does not work and its time for a change... get with the programme and don't dwell on your points... if they hold you back from investment then you will be much worse off...
    ....
    Enjoy...

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    Actually Elon isn't the richest individual on the planet. Tesla fell. I was short btw. In fact I have been short Bitcoin the last 6 weeks off and on and it has been excellent. One thing that does not change on markets, fear and greed.

    Yeah I have a finance degree. Spent over 10 years as an insti analyst and dealer(sell side), then ran a large fund(buy side)(top performing over all cycles). Currently chair of a listed company, hey but what would I know.

    If you studied finance I hope you completed, maybe youmissed reserve currency characteristics though on a lecture or two you missed. LOL just joking. You are entitled to a view but be careful when it isn't shared by most. Musical chairs comes to mind.

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    Wow, some impassioned perspectives here. I'm probably more in CC's camp and believe there are genuine use cases to crypto that suggest to me it isn't going away anytime soon, however I'm not sure I'd bother trying so hard to convince people on this forum of that fact. If you believe in it, then "invest", and come back here and boast merrily with a picture of you nude on your new yacht, spraying expensive champagne at your pet giraffe when you're minted (because who needs strippers, when you can have a pet giraffe... anyone know if giraffe's can swim? Hmmmm, guess it won't matter much if you have a big enough crypto yacht)

    Anyway, article from Ark on crypto here: https://research.ark-invest.com/hubf...ource=hs_email

    Some people will read it as gospel, others will only see the author's vested interest, but I thought it was quite interesting and well-written... I must admit, assuming their math and assumptions are right on the various penetration rates, suggests BTC pretty close to fair value at the moment.

  19. #19
    Senior Member Entrep's Avatar
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    Quote Originally Posted by Sir Ten View Post
    however I'm not sure I'd bother trying so hard to convince people on this forum of that fact.
    Like Satoshi said back in 2008, "If you don't believe me or don't get it, I don't have time to try to convince you, sorry."

    Quote Originally Posted by Dassets View Post
    Yeah I have a finance degree. Spent over 10 years as an insti analyst and dealer(sell side), then ran a large fund(buy side)(top performing over all cycles). Currently chair of a listed company, hey but what would I know.
    Impressive stats. You sound smart enough to be Jamie Dimon
    Last edited by Entrep; 01-03-2021 at 05:05 PM.

  20. #20
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    Quote Originally Posted by Dassets View Post
    Actually Elon isn't the richest individual on the planet. Tesla fell. I was short btw. In fact I have been short Bitcoin the last 6 weeks off and on and it has been excellent. One thing that does not change on markets, fear and greed.

    Yeah I have a finance degree. Spent over 10 years as an insti analyst and dealer(sell side), then ran a large fund(buy side)(top performing over all cycles). Currently chair of a listed company, hey but what would I know.

    If you studied finance I hope you completed, maybe youmissed reserve currency characteristics though on a lecture or two you missed. LOL just joking. You are entitled to a view but be careful when it isn't shared by most. Musical chairs comes to mind.
    Musical chairs is a fair analogy. Hardly how you would describe an up and coming "new" currency.
    Comparatively, compare CC to gold or silver. Even though the US droped the gold standard some decades back, it's popularity is still there. We have a strong trust in gold and silver built over many hundreds of years, that trust had to be earned and it holds fast. Individuals, banks, and governments have an established trust in it. Thats what it takes to become a recognised currency. Not some half assed pie in the sky dreamed up by goodness knows who.

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