Who's going in on CryptoCurrencies? XRP - Bitcoin

@CCarter
In case you didnt notice, we live in an inflation fueled fiat fantasy land.
They got rid of the required reserve ratio last March........

Cash flow and fundamentals require a peg to be relevant or they just take a back seat to inflation hedging.

Crypto is driven by the everything bubble wiping out credible investment opportunities as much as anything else.

You can even see it in the inflated valuations for shitty organic content websites.

The only thing holding it back is that the top class of investors allocate based on what they want to see in the future. They're interested in control not profits. Social investing is the number 1 market spirit because investors have to live in the real world.

Most people largely agree that burning up the whole world to keep a ledger is crazy. Some just don't care if they can profit or think adoption will drive the innovations needed to deal with the power issues.

If and when the power issues get solved governments and more ethical masters of the universe are either going to adopt the tech or get overthrown and out competed by those that do.

When you bet on a coin or what ever, what you're really betting on is its biggest bag holders ability to affect the future and drive adoption. I like doge because I think it has the most credible early adopters with the largest ability to affect future change. Its also got brilliant accessibility first choices and best in class memnetics that I believe will cause it to compete above its weight class.

The inverse of this is why I think butt coin is a real dog of a bet.
That said there is so much crapital out floating around due to the overcapitalized state of the global economy that I doubt it will ever go to 0 with out government level intervention relating to concerns about its ecological footprint. It would take real big brass balls, or insider gov level information to go short on it; but might pay off hella well.
 
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secretagentdad said:
They're interested in control not profits.
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I am going to bet on the people with the guns and ammo. When Doge can buy hellfire missiles than maybe.
 
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XRP suggested to drop to .51cents:
https://www.investingcube.com/rippl...-looking-good-for-xrp-bulls-cryptocurrencies/

Dogecoin could reach $7?
https://www.deseret.com/u-s-world/2021/5/24/22451036/dogecoin-drop-reasons-prediction

Jenny Ta, the founder and CEO of CoinLinked.com, said dogecoins will reach $1. She said Dogecoin will reach a market cap of $1 trillion — it’s currently about $44 billion — which would make a single dogecoin worth $7 or $8 per coin, according to Benzinga.
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secretagentdad said:
I like doge because I think it has the most credible early adopters with the largest ability to affect future change. Its also got brilliant accessibility first choices and best in class memnetics that I believe will cause it to compete above its weight class.

The inverse of this is why I think butt coin is a real dog of a bet.
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Isn't Doge identical to fiat, only way worse from an inflationary perspective? There's no one pushing a button / making a decision to print more doge (like there is with fiat, put very simplistically)—the algorithm just mints 10,000 coins a minute ad nauseum. How does a cryptocurrency with infinite, ever rapidly expanding supply maintain any value in the long term?

secretagentdad said:
Most people largely agree that burning up the whole world to keep a ledger is crazy
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That's a wild oversimplification, surely. Like:
- Most people would agree that burning up the whole world to get people and things from one place to another is crazy.
- Most people would agree that burning up the whole world to have cows is crazy.

Bitcoin is technically just a ledger. Practically, it's so much more than that.
 
Maudiggity said:
Isn't Doge identical to fiat, only way worse from an inflationary perspective? There's no one pushing a button / making a decision to print more doge (like there is with fiat, put very simplistically)—the algorithm just mints 10,000 coins a minute ad nauseum. How does a cryptocurrency with infinite, ever rapidly expanding supply maintain any value in the long term?
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Doge coin inflationary components are why its brilliant and a better contender for commercial adoption.
I fail to see how an inflationary schedule/ protocol is inferior to a committee of fiat managers voting on esoteric rules. They haven't exactly protected the value of the dollar..... You only have to out perform fiat inflation or have an expected ratio that is convertible and allows predictability. You don't need perfection. Thats an unreasonable standard.

I guess as ccarter says you can make the hell fire missile argument. But I don't think they're going to do that. I think the fiat committees are smart enough to see the tide and just float with it while steering enough boats to stay relevant. The current attempts to do so seem to be hamfisted and flaily but I'm always willing to bet on smart well networked old people in organized groups. These guys are anything but stupid, even if they're kinda out of touch and slow to respond from time to time. Can you blame them? They're the masters of the universe out living awesome lives. Check out the entertainment scene in the big cities in America. Its utterly epic.

The problem with deflationary coins is they're just designed to enrich their creators through law of large number abuses. Eventually recruiting new people for your protocol becomes difficult due to saturation. Then you're left with a ledger and a bunch of bag holders.

An inflationary component to a protocol safe guards long term on ramps far better than a deflationary one. In the finance industry its generally called a multi level marketing scheme when you make money off the inventory float of those below you in the pyramid. That's rightfully very frowned upon. I think the inflationary component of doge will become more and more apparent as an advantage as we reach the stage of real market adoption and market fundamentals. The current musical chairs is people jockeying for position in a speculative bubble. I think if and when real world market becomes more important at best deflationary coins will be similar to gold that you convert in big blocks so you can transact with inflationary fiat protocols. Mr Medias logic on this has a valid point. I would have called them worthless in the past.

Maudiggity said:
That's a wild oversimplification, surely. Like:
- Most people would agree that burning up the whole world to get people and things from one place to another is crazy.
- Most people would agree that burning up the whole world to have cows is crazy.

Bitcoin is technically just a ledger. Practically, it's so much more than that.
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Sure it is, but its also very real world.
Firing up coal plants to mine money kills. Its not a joke, its not a bad faith argument. It needs to be taken seriously. The distributed ledger money market segment can not reach maturity with out genuinely finding a way to address the power problems. I'm not going to line item the details because you can write itemized white papers arguing rabbit holes for eternity.

Its total denial to not take the efficient use of resources into account. The fact of the matter is the distributed ledger market is consuming resources at a notable rate to convert them into proofs of past reality. Electrifying expensive hardware filled with rare components and running them at full blast has major implications that need to be taken seriously. Its not just meany head regulatory suppression to pay attention to inefficient resource allocation. That is the one bleeping job they (regulators) have that's actually justifies their existence.

I don't like crypto and won't be buying any outside of minecraft until I see the wasteful resource usage problems addressed. When I do I will be buying a fiat comparable coin with inflation not deflation; Or possibly a utility coin (something we didn't really talk about much yet in this thread)

I will not be bailing out the dragons sitting on their deflationary museum pieces. I don't think there is 0 merit or underling value to deflationary protocols but my guess it will be mostly as historic novelty. More comparable to notable artistic works than gold but also a bit like gold on a very small scale. Basically more liquid than art but less liquid than gold. How much exactly only the future will reveal.
 
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DogeCoin suddenly became available on Coinbase today

So far, went up by 3-4 cents. Peaked at around 6 cent so far

One more tweet from Elon... it's going to rocket
 
The full story on Dogecoin is on CNN:
https://edition.cnn.com/2021/06/02/investing/dogecoin-surge-coinbase/index.html

It's only available to Coinbase pro users... I looked it up, it's there

Prices have risen about 10cents in the last 48 hours. A 30% gain on the dollar.

I didn't buy back in yet but it's supposed to go up again once it's available to the regular Coinbase users.

For me, I don't have enough extra money to make it a 'must have' situation. I missed that boat but for those who've got the bank to put down money for a healthier return, it's there.

I hope Shiba Inu actually catches. It's a long-shot but there might be some countries that go after this. The 'hype' is getting pretty big on it too in terms of getting some major sites to mention it. The "Doge coin killer" at this point, can change a $10 investment into $12,000 if it reaches .01cent

This and Casino Coin............... oh how i hope.......... I been saying since the beginning, crypto Coins is the biggest opportunity I've seen on the internet in my lifetime. IT' bigger than gold, stock market, and the PPC industry I dabbled in but you need the $$,$$$ to get in and get out for fast gains.

I was also told about "Mina" by a client.. It's supposed to be the 'mobile blockchain' and if they can reach goals they've put out. would revolutionize everything. Supposedly, they've already done what Cardano's founder said was impossible.
 
secretagentdad said:
Doge coin inflationary components are why its brilliant and a better contender for commercial adoption.
I fail to see how an inflationary schedule/ protocol is inferior to a committee of fiat managers voting on esoteric rules. They haven't exactly protected the value of the dollar..... You only have to out perform fiat inflation or have an expected ratio that is convertible and allows predictability. You don't need perfection. Thats an unreasonable standard.
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It seems like you're talking about doge from a currency perspective. If that's the case, then I absolutely agree that Doge is as good or better than fiat. At the moment, (broadly speaking) very few people want crypto as a currency. They want to get rich from it. Doge's inflationary nature means it can't fulfill that purpose in the long run, and I imagine that when people start truly getting rekt by it, it will be rejected in all forms.

secretagentdad said:
The problem with deflationary coins is they're just designed to enrich their creators through law of large number abuses. Eventually recruiting new people for your protocol becomes difficult due to saturation. Then you're left with a ledger and a bunch of bag holders.
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Perhaps my understanding of the financial (and/or crypto) world is too rudimentary, but here it goes...Couldn't you make that same argument about any asset? The first people to get in / the creators are the ones who get most rich. Property, companies / stonks, precious metals, gems, tulips... If you can make that argument about anything, then all assets are problematic in your view, no? I don;t really understand your point about recruiting new people, so maybe that's what I'm missing...

secretagentdad said:
Firing up coal plants to mine money kills. Its not a joke, its not a bad faith argument. It needs to be taken seriously. The distributed ledger money market segment can not reach maturity with out genuinely finding a way to address the power problems. I'm not going to line item the details because you can write itemized white papers arguing rabbit holes for eternity.
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I definitely don't disagree with you there. It is a problem that I find hard to stomach (though not too hard, obviously). I also don't think it's an insurmountable problem but do recognize that it's worth exactly nothing to simply say "oh they'll figure out a solution". That's really all I have to say about that.
 
The obsession with how green crypto is makes me smile.

I'm an Elon fanboy but the idea that mining bitcoin is somehow worse than mining gold (plot twist: its not) is a smoke screen.

The general theory is that BlackRock a major share holder in Tesla pressured Musk to use his influence to reduce the price of the crypto market to allow them to gain entry points at lower than market prices.

Once they have taken their positions lets all be amazed when a green solution is discovered and suddenly bitcoin becomes greener than green and the price sky rockets.
 
Another doubter of the Crypto. A doubter of people's tiredness of 'controls' by banks

  • The chief investment officer of one of Europe's largest asset managers calls cryptocurrencies such as bitcoin (BTC-USD) a "farce," and says they're a result of bubbles forming in financial markets.
  • "Bitcoin will be remembered for pushing central banks to adopt digital money," Pascal Blanque, CIO of Amundi, said on Thursday, as reported by Reuters. But eventually governments and regulators will "stop the music," he added.
  • Rather, it's more important for investors to boost exposure to China's renminbi than cryptocurrencies, he said, according to the report
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https://seekingalpha.com/news/37029...e?utm_source=coindesk.com&utm_medium=referral
 
Maudiggity said:
It seems like you're talking about doge from a currency perspective. If that's the case, then I absolutely agree that Doge is as good or better than fiat. At the moment, (broadly speaking) very few people want crypto as a currency. They want to get rich from it. Doge's inflationary nature means it can't fulfill that purpose in the long run, and I imagine that when people start truly getting rekt by it, it will be rejected in all forms.
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I totally disagree with your premise. The point of the speculation is to support and create the winners that will be used for real utility or market transactions in the future. You back the winners you win, inflation takes a small bit of your winnings sure but having your coin sputter out cuz you saturated and ran out of greater fools doesn't work better. Coins need incentives to use them or they're a collectable not money. I'm willing to bet that the potential for speculative windfalls is an order of magnitude higher for future money than collectables.

Doge has very controlled and planned inflation that I think was very well tuned to match the actual realities of the market. There is still scarcity with doge even if its inflationary. Supply is limited, and inventory has a finite expansion rate. Being deflationary or inflationary just effects the degree of scarcity and is completely relative to everything else in the world in circulation. (fiat, resources, other shit coins, people ect ect) I think the degree of scarcity it has still allows plenty of space for speculative appreciation with its current price.
(here's a good article laying out the schedule )

The key value here I'm betting on is that speculators piling in can push the adoption so the feed back loop actually goes somewhere. The problem with these deflation coins is they can't really be pushed into real world adoption in any credible way that I can imagine. Speculators piling in needs to make the coin more usable, not less usable. Built in deflation is just a downline mlm for early adopters. Its great for grifting during a speculative frenzy because plebs are dumb. You need to disincentives to hoarding if you to encourage use in real transactions.

Speculators need something to bet on other than other than other speculators holding inventory. If your only plan is later adopters holding your inventory, what you have is an inventory holding MLM. The only thing those are good for is cashing in social capitol to make a quick buck. Eventually you become to unappealing to new blood and your pyramid falls apart.
What a grift..... I bet inflationary coins absolutely crush deflationary coins as adoption of crypto rises.
It will be fun to watch over the next few years.

Maudiggity said:
Perhaps my understanding of the financial (and/or crypto) world is too rudimentary, but here it goes...Couldn't you make that same argument about any asset? The first people to get in / the creators are the ones who get most rich. Property, companies / stonks, precious metals, gems, tulips... If you can make that argument about anything, then all assets are problematic in your view, no? I don;t really understand your point about recruiting new people, so maybe that's what I'm missing...
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Absolutely but those are tangible inventory. No matter who or what prints the monies they have value even the tulips. You inflate your coin or what ever, I raise the price of my metals and tulips ez pz.
The problem block chains have is their inventory is just a ledger. No adoption and eventually you just have a bunch of dragons trying to trick people into taking their inventory with no credible use cases other than its "an asset" you can put on your books or various social pressure foma wheel nonsense. (I think nonsense works to a limit, the worlds big. Also think its totally lame and never going to compare in the long run with protocols with utility or market fungibility)

Maudiggity said:
I definitely don't disagree with you there. It is a problem that I find hard to stomach (though not too hard, obviously). I also don't think it's an insurmountable problem but do recognize that it's worth exactly nothing to simply say "oh they'll figure out a solution". That's really all I have to say about that.
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Yeah its a real bummer. Really pisses me off when people try to minimize it or make bs unfair comparisons cuz they already have skin in the game. I don't think the power / resource usage needs to drop to 0 but we need significant progress on resource efficiency before I'm comfortable getting in. I'm not the only person who feels this way. In fact I'd be willing to bet people who feel this way are in the majority. Just not in the early adopter cohort group.
 
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Floyd Mayweather paid to wear Ethreum logos on clothing at weigh-in of Logan Paul fight


I wonder how many millions he made from that
 
Let's check in on the nerd money circle-jerk - they've been a bit quiet. I mean 99.999% of these are pump and dump schemes, but for some reason people are hoping "this one" will make them rich quick.

But it's not a "get rich quick" scheme, I believe in the technology.

"Have you read the white paper?" "No, have you?"

"Do you understand the technology??" "Yes I do, it's a game of musical chairs."

How's our hero Doge feeling:

NFtXHIm.jpg


Maybe next week kid...

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Let me throw this one in: G999 coin, This host is really excited on this one, the highlight:

"Here we go!"

"I hope you didn't get rid of all your coins"

"I am, aahh! too excited."

"Oh my goodness..."

"Here is the overview, hehe, 'our mission!'"

"Get back to whoever sent you this video, play time is over!"


Dude really posted a youtube of a whitepaper... 2.0.

--

This crap still doesn't solve a single problem for consumers, except in delusional nerds' minds. "It's another alternative world even beyond your world."
 
It's June.........

June is the worst performing month of Stock/Cryptos historically.

Also September.

it's quiet because smart people are just sitting and holding................

SHIB coins ............. i was up but no worries.. im waiting until Coinbase & RH
ETH ........ I was up until i had to cash out the other day. Next project begins!
 
Dump wood
Dump doge
Dump silver
Hold usd.
 
DogeCoin's officially on Coinbase
The prices almost doubled since their .17cent low.
 
Coinbase just dropped the Debit Card............ it's official.. Cryptos can be spent instantly from the account... swip-swipe .. Anywhere visa's accepted
 
Problem is, will this will create a taxable event for people ( looking at Americans, but could be others ) each time they wanna buy something at a store?

If I have $100,000 in BTC and use this card at an ATM or a store, that BTC has to be converted/sold into dollars. That in of itself is a taxable event normally when you go from one to another right now with current tax laws.

Who is left holding the tax bag on that event.. me the buyer or Coinbase or the seller?

Then I pay tax on the product I just bought too ( sales tax ).

Anyone got info on this subject?
 
eliquid said:
Problem is, will this will create a taxable event for people ( looking at Americans, but could be others ) each time they wanna buy something at a store?

If I have $100,000 in BTC and use this card at an ATM or a store, that BTC has to be converted/sold into dollars. That in of itself is a taxable event normally when you go from one to another right now with current tax laws.

Who is left holding the tax bag on that event.. me the buyer or Coinbase or the seller?

Then I pay tax on the product I just bought too ( sales tax ).

Anyone got info on this subject?
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Exactly why Bitcoin is not and never will be a currency. Taxation makes it a long term hold not a daily transaction vehicle.

It would be like using TESLA stocks to buy a Mars bar.

Anyone who says it will become the currency of earth is clearly retarded. It is a store of value. Nothing more nothing less.
 
I think Michael Burry, of which "The Big Short" is based on, has some interesting thoughts on BTC/Gold/markets. I like him because he's a deep researcher and so contrarian.


fU9PpB8.jpg
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Obviously, he doesn't like cryptos, but isn't necessarily short on them. I think his take on even GOLD being a competitor to the dollar is interesting -- and possibly explanatory to Gold's total lack of movement at a time you'd think it'd be going bananas.
 
A lot of people aren't aware of the 5x-10x fast returns people are doing on iCOs but i'll share the information for those who wish to dabble

Just like S&P, cryptos have their initial launched. If a brand, useful coin or shitcoin, has a budget to draw attention.. they will always profit at launch. That's the basics of it and A LOT are making A LOT from this right now.

Simply figure out ICO launches of coins buzzing in places like reddit. Buy in at the ICO , uusally .002 to .005, hold until launch. If it shoots up to 10x, sell immediately . LAUNCH DAY IS KEY.

Have I gotten into this? Yes. The end.
 
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