Semi OT: Anyone lose money in the crypto crash?

akakalakin · Post #161 » by **akakalakin** » Tue Nov 15, 2022 11:20 pm

US $ from Biden to Ukraine, FTC washes it and sends back to Dem candidates as donations. Zelinsky calls for peace as soon as it is discovered.
wow

OakleyDokely · Post #162 » by **OakleyDokely** » Wed Nov 16, 2022 12:07 am

akakalakin wrote:US $ from Biden to Ukraine, FTC washes it and sends back to Dem candidates as donations. Zelinsky calls for peace as soon as it is discovered.
wow

Someones been reading too much facebook

akakalakin · Post #163 » by **akakalakin** » Wed Nov 16, 2022 12:10 am

OakleyDokely wrote:
akakalakin wrote:US $ from Biden to Ukraine, FTC washes it and sends back to Dem candidates as donations. Zelinsky calls for peace as soon as it is discovered.
wow
Someones been reading too much facebook

as Biden wants 37 BILLION MORE

libertyYYZ · Post #164 » by **libertyYYZ** » Wed Nov 16, 2022 12:13 am

akakalakin wrote:
OakleyDokely wrote:
akakalakin wrote:US $ from Biden to Ukraine, FTC washes it and sends back to Dem candidates as donations. Zelinsky calls for peace as soon as it is discovered.
wow
Someones been reading too much facebook

as Biden wants 37 BILLION MORE

Are you from the future? Tell us more.

akakalakin · Post #165 » by **akakalakin** » Wed Nov 16, 2022 12:16 am

libertyYYZ wrote:
akakalakin wrote:
OakleyDokely wrote:Someones been reading too much facebook

as Biden wants 37 BILLION MORE

Are you from the future? Tell us more.

no AI is hiring up over 200%, so kinda irrelevant

KL78192020 · Post #166 » by **KL78192020** » Wed Nov 16, 2022 7:00 pm

This is amazing. Gotta be the most ironic commercial ever, Larrys a legend got paid by FTX to say its **** in the ad.

Watch on YouTube

akakalakin · Post #167 » by **akakalakin** » Thu Nov 17, 2022 1:01 am

KL78192020 wrote:This is amazing. Gotta be the most ironic commercial ever, Larrys a legend got paid by FTX to say its **** in the ad.

Watch on YouTube

Is he named in the lawsuit with Brady Shaq etc?

DelAbbot · Post #168 » by **DelAbbot** » Thu Nov 17, 2022 1:44 am

most people posting here should watch this

Watch on YouTube

KL78192020 · Post #169 » by **KL78192020** » Thu Nov 17, 2022 4:02 am

akakalakin wrote:
KL78192020 wrote:This is amazing. Gotta be the most ironic commercial ever, Larrys a legend got paid by FTX to say its **** in the ad.

Watch on YouTube

Is he named in the lawsuit with Brady Shaq etc?

Ya I don't think anything is gona happen to him, he did one commercial Guys like Brady for pumping it non-stop.

JustLucky · Post #170 » by **JustLucky** » Thu Nov 17, 2022 10:36 am

i am still massive up in crypto like millions. one company going under is just like a monthly event nothing to see here. the smart money is in bitcoin and eth and in cold storage not in some dumb exchange. there has to be dumb money to have smart money altho I did make a **** ton from binance coins an acual exchange thats been around 8 years thats more safe. but if you have alot of your assets ina ponzi sceme exchange you deserve to lose it tbh. I also sold most of my crypto at like 60k 6 months ago this bitcoin downswing has been predicated for a very long time

PerfectJab · Post #171 » by **PerfectJab** » Thu Nov 17, 2022 11:00 am

JustLucky wrote:i am still massive up in crypto like millions. one company going under is just like a monthly event nothing to see here. the smart money is in bitcoin and eth and in cold storage not in some dumb exchange. there has to be dumb money to have smart money altho I did make a **** ton from binance coins an acual exchange thats been around 8 years thats more safe. but if you have alot of your assets ina ponzi sceme exchange you deserve to lose it tbh. I also sold most of my crypto at like 60k 6 months ago this bitcoin downswing has been predicated for a very long time

Given that you posted this you won't even understand why I'm saying this but I'll say it anyways. You have no idea how stupid you look :lol:

deck · Post #172 » by **deck** » Thu Nov 17, 2022 12:18 pm

JustLucky wrote:i am still massive up in crypto like millions. one company going under is just like a monthly event nothing to see here. the smart money is in bitcoin and eth and in cold storage not in some dumb exchange. there has to be dumb money to have smart money altho I did make a **** ton from binance coins an acual exchange thats been around 8 years thats more safe. but if you have alot of your assets ina ponzi sceme exchange you deserve to lose it tbh. I also sold most of my crypto at like 60k 6 months ago this bitcoin downswing has been predicated for a very long time

There are certainly success stories like this where people got out at the right time. But that said, the smart money is definitely not in BTC. BitCoin specifically has basically zero future. Too slow to ever be practically useful, and lacking a centralized authority that can evolve the chain over time. ETH is a far better option at this point as it is centrally managed and is executing a road map to improve itself. ETH also has use cases (see smart contracts) that provide additional utility outside of peer to peer transactions.

It is important to understand that the vast majority of blockchain based currencies are zero sum and many are massively negative sum, meaning, if you are up millions, someone else must be down millions. The simple act of mining BTC extracts value from the system in the form of miners converting to cash. This makes BTC at best a greater fool scheme, as it is dependent on an infinite chain of people buying-in in order for the value to go up. As a simple mind experiment to this effect, what do you think would happen if everyone tried to cash out at current BTC valuations? How much of it's $318 billion of current market cap could actually be converted to cash? I suspect not much.

wegotthabeet · Post #173 » by **wegotthabeet** » Thu Nov 17, 2022 12:31 pm

JustLucky wrote:i am still massive up in crypto like millions. one company going under is just like a monthly event nothing to see here. the smart money is in bitcoin and eth and in cold storage not in some dumb exchange. there has to be dumb money to have smart money altho I did make a **** ton from binance coins an acual exchange thats been around 8 years thats more safe. but if you have alot of your assets ina ponzi sceme exchange you deserve to lose it tbh. I also sold most of my crypto at like 60k 6 months ago this bitcoin downswing has been predicated for a very long time

binance launched in July 2017. not 8 years ago.

wegotthabeet · Post #174 » by **wegotthabeet** » Thu Nov 17, 2022 1:59 pm

deck wrote:
JustLucky wrote:i am still massive up in crypto like millions. one company going under is just like a monthly event nothing to see here. the smart money is in bitcoin and eth and in cold storage not in some dumb exchange. there has to be dumb money to have smart money altho I did make a **** ton from binance coins an acual exchange thats been around 8 years thats more safe. but if you have alot of your assets ina ponzi sceme exchange you deserve to lose it tbh. I also sold most of my crypto at like 60k 6 months ago this bitcoin downswing has been predicated for a very long time

There are certainly success stories like this where people got out at the right time. But that said, the smart money is definitely not in BTC. BitCoin specifically has basically zero future. Too slow to ever be practically useful, and lacking a centralized authority that can evolve the chain over time. ETH is a far better option at this point as it is centrally managed and is executing a road map to improve itself. ETH also has use cases (see smart contracts) that provide additional utility outside of peer to peer transactions.

It is important to understand that the vast majority of blockchain based currencies are zero sum and many are massively negative sum, meaning, if you are up millions, someone else must be down millions. The simple act of mining BTC extracts value from the system in the form of miners converting to cash. This makes BTC at best a greater fool scheme, as it is dependent on an infinite chain of people buying-in in order for the value to go up. As a simple mind experiment to this effect, what do you think would happen if everyone tried to cash out at current BTC valuations? How much of it's $318 billion of current market cap could actually be converted to cash? I suspect not much.

been following ETH's development since January 2014 (18 months before it launched), but I'm not a big fan of the move to proof of stake. I much prefer proof of work as a protocol for a variety of reasons I won't go into detail here.

both require Layer 2's to scale, BTC has lightning, ETH has zkRollups. each has it's own niche, both do different things better than the other, but both have their own respective issues as well.

MavCarter · Post #175 » by **MavCarter** » Thu Nov 17, 2022 3:13 pm

akakalakin wrote:US $ from Biden to Ukraine, FTC washes it and sends back to Dem candidates as donations. Zelinsky calls for peace as soon as it is discovered.
wow

Vast majority of aid being sent to ukraine is in the form of technology, weapons, medical aid etc. They arent sending ukraine brink trucks full of cash. What a garbage conspiracy lol

Johnny Bball · Post #176 » by **Johnny Bball** » Thu Nov 17, 2022 3:17 pm

akakalakin wrote:
OakleyDokely wrote:
akakalakin wrote:US $ from Biden to Ukraine, FTC washes it and sends back to Dem candidates as donations. Zelinsky calls for peace as soon as it is discovered.
wow
Someones been reading too much facebook

as Biden wants 37 BILLION MORE

You don't screw around with just 37 billion and a foreign government and crypto, you do it like Trump and print 7 trillion dollars in national debt, give it all away, and almost all ends up as corporate welfare, and then you expect donations back. I mean, if you want to be corrupt, you learn from the best.

JN · Post #177 » by JN » Thu Nov 17, 2022 3:30 pm

akakalakin wrote:US $ from Biden to Ukraine, FTC washes it and sends back to Dem candidates as donations. Zelinsky calls for peace as soon as it is discovered.
wow

Instant Ignore.
Congratulations.

ruckus · Post #178 » by **ruckus** » Thu Nov 17, 2022 3:51 pm

deck wrote:
JustLucky wrote:i am still massive up in crypto like millions. one company going under is just like a monthly event nothing to see here. the smart money is in bitcoin and eth and in cold storage not in some dumb exchange. there has to be dumb money to have smart money altho I did make a **** ton from binance coins an acual exchange thats been around 8 years thats more safe. but if you have alot of your assets ina ponzi sceme exchange you deserve to lose it tbh. I also sold most of my crypto at like 60k 6 months ago this bitcoin downswing has been predicated for a very long time

It is important to understand that the vast majority of blockchain based currencies are zero sum and many are massively negative sum, meaning, if you are up millions, someone else must be down millions. The simple act of mining BTC extracts value from the system in the form of miners converting to cash. This makes BTC at best a greater fool scheme, as it is dependent on an infinite chain of people buying-in in order for the value to go up. As a simple mind experiment to this effect, what do you think would happen if everyone tried to cash out at current BTC valuations? How much of it's $318 billion of current market cap could actually be converted to cash? I suspect not much.

Couldn't you say the same thing about any currency or liquid asset? What would happen to the stock market if everyone sold Tesla at once? What would happen to the banks if everyone went on a bank run?

As for the zero-sum comment, money doesn't come out of thin air. For every person that has a dollar, another person or entity is down one dollar.

JustLucky · Post #179 » by **JustLucky** » Thu Nov 17, 2022 8:41 pm

PerfectJab wrote:
JustLucky wrote:i am still massive up in crypto like millions. one company going under is just like a monthly event nothing to see here. the smart money is in bitcoin and eth and in cold storage not in some dumb exchange. there has to be dumb money to have smart money altho I did make a **** ton from binance coins an acual exchange thats been around 8 years thats more safe. but if you have alot of your assets ina ponzi sceme exchange you deserve to lose it tbh. I also sold most of my crypto at like 60k 6 months ago this bitcoin downswing has been predicated for a very long time

Given that you posted this you won't even understand why I'm saying this but I'll say it anyways. You have no idea how stupid you look

gl with your 1% roi stonks im sure that will beat inflation. no risk on reward plus its not fun if you dont gain or loss millions !

JustLucky · Post #180 » by **JustLucky** » Thu Nov 17, 2022 8:51 pm

deck wrote:
JustLucky wrote:i am still massive up in crypto like millions. one company going under is just like a monthly event nothing to see here. the smart money is in bitcoin and eth and in cold storage not in some dumb exchange. there has to be dumb money to have smart money altho I did make a **** ton from binance coins an acual exchange thats been around 8 years thats more safe. but if you have alot of your assets ina ponzi sceme exchange you deserve to lose it tbh. I also sold most of my crypto at like 60k 6 months ago this bitcoin downswing has been predicated for a very long time

There are certainly success stories like this where people got out at the right time. But that said, the smart money is definitely not in BTC. BitCoin specifically has basically zero future. Too slow to ever be practically useful, and lacking a centralized authority that can evolve the chain over time. ETH is a far better option at this point as it is centrally managed and is executing a road map to improve itself. ETH also has use cases (see smart contracts) that provide additional utility outside of peer to peer transactions.

It is important to understand that the vast majority of blockchain based currencies are zero sum and many are massively negative sum, meaning, if you are up millions, someone else must be down millions. The simple act of mining BTC extracts value from the system in the form of miners converting to cash. This makes BTC at best a greater fool scheme, as it is dependent on an infinite chain of people buying-in in order for the value to go up. As a simple mind experiment to this effect, what do you think would happen if everyone tried to cash out at current BTC valuations? How much of it's $318 billion of current market cap could actually be converted to cash? I suspect not much.

putting the everything in either is way more risky then putting it in both. in a bear market I wouldnt put my money in anything else tho