Home› Tug Tavern

Howdy, Stranger!

It looks like you're new here. Sign in or register to get started.

Sign In Register
Welcome to the Hardcore Husky Forums. Folks who are well-known in Cyberland and not that dumb.

The Crypto Market has aggregated an amazing amount of con artists...

HoustonHuskyHoustonHusky Member Posts: 5,995
in Tug Tavern
Probably 2nd only to government now.


· Share on FacebookShare on Twitter

Comments

  • Bob_CBob_C Member, Swaye's Wigwam Posts: 10,923 Swaye's Wigwam
    Hearing that there are no leveraged positions in the crypto market. None.
    · Share on FacebookShare on Twitter
  • creepycougcreepycoug Member Posts: 23,670
    Yeah, I just can't see it. It's basically entirely Vegas as far as I'm concerned.

    I'll say this: as it continues to drop, it may be worth dropping a few $$ at the roulette wheel for a quick sell if it comes back.
    · Share on FacebookShare on Twitter
  • WestlinnDuckWestlinnDuck Member Posts: 15,713 Standard Supporter
    creepycoug said:

    Yeah, I just can't see it. It's basically entirely Vegas NYC three card Monte as far as I'm concerned.

    I'll say this: as it continues to drop, it may be worth dropping a few $$ at the roulette wheel for a quick sell if it comes back.

    · Share on FacebookShare on Twitter
  • greenbloodgreenblood Member Posts: 14,520
    Bitcoin is about the only long term hold in the crypto industry. Even that has it's problems
    · Share on FacebookShare on Twitter
  • CuntWaffleCuntWaffle Member Posts: 22,499
    Bitcoin or bust boys. Maybe in the next bull market we will get another casino period. Even Bitcoin is looking like shit though and pretty much every big reason the maxis lean on have been tossed out the window (inflation hedge, not correlated with the stock market etc.). I still think it is a good long play but I am not nearly as confident as I was before.
    · Share on FacebookShare on Twitter
  • AtomicPissAtomicPiss Administrator, Swaye's Wigwam Posts: 64,554 Founders Club
    greenblood said:

    Bitcoin is about the only long term hold in the crypto industry. Even that has it's problems

    It's going to take some regulation (approval of spot ETFs) and education so people understand the difference between BTC and all the rest
    · Share on FacebookShare on Twitter
  • WestlinnDuckWestlinnDuck Member Posts: 15,713 Standard Supporter
    DerekJohnson said:

    greenblood said:

    Bitcoin is about the only long term hold in the crypto industry. Even that has it's problems

    It's going to take some regulation (approval of spot ETFs) and education so people understand the difference between BTC and all the rest
    It's still all intangibles supported only by trust that the rules won't be broken or the real money stolen. When Bitcoin can go from $66,000 to $16,000 the difference between Bitcoin and Dutch tulip bulbs is?
    · Share on FacebookShare on Twitter
  • AtomicPissAtomicPiss Administrator, Swaye's Wigwam Posts: 64,554 Founders Club
    WestlinnDuck said:

    DerekJohnson said:

    greenblood said:

    Bitcoin is about the only long term hold in the crypto industry. Even that has it's problems

    It's going to take some regulation (approval of spot ETFs) and education so people understand the difference between BTC and all the rest
    It's still all intangibles supported only by trust that the rules won't be broken or the real money stolen. When Bitcoin can go from $66,000 to $16,000 the difference between Bitcoin and Dutch tulip bulbs is?
    Who is doing the stealing? It's people who don't know the difference between BTC and crypto and think its intangibles that are delaying its progress. It is what it is. And BTC went from 69k to 17k largely because as soon as the markets started to fall, people liquidated first what they perceived to be the most vulnerable -- BTC. Which is to be expected given the fact this asset class is only 13 years old.
    · Share on FacebookShare on Twitter
  • greenbloodgreenblood Member Posts: 14,520
    edited June 2022
    If you buy, and you're not using your own wallet, then you have no business being in the asset. With what's happened with Celsius, and the concerns now if brokerages like Coinbase and Robinhood ever go under and people being locked out of their crypto, it's no wonder retail has vanished. The concern I also have is the lost in trust in the entire crypto market. With crypto not being FDIC insured, trust is paramount. This latest bull run was retail driven, and I don't think you'll see a retail rush back into crypto for a long time if ever. That means lower volume and even higher volatility than what we have now. People are worried about rug pulls now, I think these pulls will now be even more violent.
    · Share on FacebookShare on Twitter
  • WestlinnDuckWestlinnDuck Member Posts: 15,713 Standard Supporter
    DerekJohnson said:

    WestlinnDuck said:

    DerekJohnson said:

    greenblood said:

    Bitcoin is about the only long term hold in the crypto industry. Even that has it's problems

    It's going to take some regulation (approval of spot ETFs) and education so people understand the difference between BTC and all the rest
    It's still all intangibles supported only by trust that the rules won't be broken or the real money stolen. When Bitcoin can go from $66,000 to $16,000 the difference between Bitcoin and Dutch tulip bulbs is?
    Who is doing the stealing? It's people who don't know the difference between BTC and crypto and think its intangibles that are delaying its progress. It is what it is. And BTC went from 69k to 17k largely because as soon as the markets started to fall, people liquidated first what they perceived to be the most vulnerable -- BTC. Which is to be expected given the fact this asset class is only 13 years old.
    How many people run the Bitcoin control system? If someone builds a new supercomputer and starts mining bitcoin like a boss, then what? Aluminum used to be more expensive than gold, then came a manufacturing breakthrough and now it isn't. The US government can shut down Bitcoin if it wants to. The enviros hate it. The Dalles here in Oregon has an investor with a big server farm using cheap electricity and is mining as we speak.
    · Share on FacebookShare on Twitter
  • SledogSledog Member Posts: 34,458 Standard Supporter
    If I can't hold it and spend it it is worthless. Silver and gold prices are being depressed by the cabal. I like silver as it would be more spendable than gold because if shit hits the fan there values will skyrocket. Harder to spend an ounce gold coin.
    · Share on FacebookShare on Twitter
  • SwayeSwaye Moderator, Swaye's Wigwam Posts: 41,540 Founders Club
    I have no idea if the info presented here is true or not, but it made enough sense to me to make me not invest when I was considering it previously:

    https://jacobin.com/2022/01/cryptocurrency-scam-blockchain-bitcoin-economy-decentralization

    At a bare minimum it raises some very interesting (and troubling) issues wrt crypto and the market around it.
    · Share on FacebookShare on Twitter
  • RaceBannonRaceBannon Member, Swaye's Wigwam Posts: 107,689 Founders Club
    I just figured that something invented to buy drugs on the dark web would never be legit or it would be co opted by governments

    I don't understand it to this day but I bet I'm right
    · Share on FacebookShare on Twitter
  • Pitchfork51Pitchfork51 Member Posts: 27,073
    edited June 2022
    I'm a pretty techy dude but I never got into it. Never had the time to really understand it.

    Was turned off by the crypto bros.


    Usually when dumbasses think they've stumbled on a gold mine they are wrong so I avoided.
    · Share on FacebookShare on Twitter
  • UW_Doog_BotUW_Doog_Bot Member, Swaye's Wigwam Posts: 16,180 Swaye's Wigwam
    RaceBannon said:

    I just figured that something invented to buy drugs on the dark web would never be legit or it would be co opted by governments

    I don't understand it to this day but I bet I'm right

    It's precisely that drug dealers use it that you know it's case proven.

    Low trust environment.

    Anyway, first major adoption bubble. It's the internet in 1998. I remember thinking I wouldn't even touch Amazon stock back then...
    · Share on FacebookShare on Twitter
Sign In or Register to comment.