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Posted on 6/30/22 at 10:13 am to JayDeerTay84
quote:
You would think people on the money board could separate actual use case projects from trash
This is generally a problem with the anti-crypto crowd.
Posted on 6/30/22 at 10:18 am to SlowFlowPro
quote:
Crypto just became the latest tulip, it's just that they created 10,000 types of tulips within 18 months.
I have been diving as much as I can into crypto over the last few weeks given its downturn and potential good buying opportunities.
I have gone from “crypto is nothing but digital strings of code operating on the greater fool theory” to “the technology has value, there will be more growth and adoption in the years to come, and the growth potential (albeit volatile and more risky than say a 401k target fund) is worth allocating 1-3% of your investment portfolio to.”
The companies and people getting rekt are suffering because of their stupidity, not the lack of value in crypto.
Posted on 6/30/22 at 10:35 am to glorymanutdtiger
quote:
I finally got everything out. I was in full panic mode
This is what we need a stickied thread for. It’ll be fascinating seeing real time panic for those trying to exit versus people yelling hold the line. …and we can all look back on the thread in a couple years and see who should’ve listened.
Posted on 6/30/22 at 10:44 am to Jon Ham
quote:
The companies and people getting rekt are suffering because of their stupidity, not the lack of value in crypto.
THIS^^^
Posted on 6/30/22 at 10:47 am to Jon Ham
quote:This is exactly how I was circa 2017. It is amazing how many examples are like this. Staunch opponents turned possible proponents after putting in time to actually do some research.
I have gone from “crypto is nothing but digital strings of code operating on the greater fool theory” to “the technology has value, there will be more growth and adoption in the years to come, and the growth potential (albeit volatile and more risky than say a 401k target fund) is worth allocating 1-3% of your investment portfolio to.”
Posted on 6/30/22 at 12:17 pm to Jon Ham
quote:
The companies and people getting rekt are suffering because of their stupidity, not the lack of value in crypto.
While I mostly agree with this, there are a few use cases that have been blown to smithereens. For starters, the whole “store of value/digital gold” is done and over with, imo.
Fwiw, I also believe physical gold is a poor store of value as well.
Posted on 6/30/22 at 12:25 pm to TigerTatorTots
I see two issues with crypto's adoption by business. First is that price volatility works against many use cases, especially as a currency. Second is competition from private blockchains, which can provide customer service, privacy and a tighter control of code.
If there's one entity that looks like it could dominate the use of blockchain for enterprise solutions going forward it's IBM.
If there's one entity that looks like it could dominate the use of blockchain for enterprise solutions going forward it's IBM.
Posted on 6/30/22 at 1:04 pm to Diseasefreeforall
quote:
If there's one entity that looks like it could dominate the use of blockchain for enterprise solutions going forward it's IBM.
Is there a token that I could buy to profit from this?
Don't forget that most people in crypto would prefer to deal with a decentralized smart contract.
Posted on 6/30/22 at 2:16 pm to slackster
quote:
For starters, the whole “store of value/digital gold” is done and over with, imo.
Did you know about 1 out of 5 US adults own bitcoin? I don’t think they own it because it’s providing everyday utility to them, or any real meaningful utility at all. Rightly or wrongly, they see it as a place worthy of parking cash. 1 out of 5 US adults aren’t day trading/short term trading. They’re holding it for long term value. Bitcoin is likely to get more popular than less, it’s likely going to be sought more by both big and small money, and there’s a limited supply, so the price long term should go up.
Could the above be wrong and bitcoin crashes for good at some point in the near future? Sure. Should you bet on that? I wouldn’t.
Posted on 6/30/22 at 2:22 pm to Jon Ham
I have limited knowledge of finance, but I assume some powerful charismatic people made a lot of money and left some gullible ones holding the bag?
Posted on 6/30/22 at 2:39 pm to tenderfoot tigah
quote:
Is there a token that I could buy to profit from this?
Don't forget that most people in crypto would prefer to deal with a decentralized smart contract.
I guess you could buy IBM stock but it's never gonna moon.
Defi doesn't offer advantages for B2B use, at least not that I can see. Centralization is a positive when it comes to providing certainty and support for business use.
Posted on 6/30/22 at 2:39 pm to BearsFan
A lot of people have made a lot of money. A lot of people bought at the top and are down big. With high reward comes high risk. Be disciplined in how much you invest (small % of your portfolio/net worth) and how you invest (dollar cost averaging, rebalancing, keeping a long term outlook) and you will put yourself in a position to be a winner if there are winners to be made.
Posted on 6/30/22 at 3:10 pm to JayDeerTay84
quote:
Oh. Let me know when you can generate over 110 Terawatt hours of hash and create the next BTC2.0. I'll buy some.
Why are you referencing BTC when I said the big dogs have value?
I said that people could create shitcoins and pump/dump bubble assets like no asset class humanity has ever seen. What is incorrect about that?
Posted on 6/30/22 at 3:11 pm to slackster
quote:
For starters, the whole “store of value/digital gold” is done and over with, imo.
Exactly.
Posted on 6/30/22 at 3:13 pm to Jon Ham
quote:
Did you know about 1 out of 5 US adults own bitcoin? I don’t think they own it because it’s providing everyday utility to them, or any real meaningful utility at all. Rightly or wrongly, they see it as a place worthy of parking cash. 1 out of 5 US adults aren’t day trading/short term trading. They’re holding it for long term value. Bitcoin is likely to get more popular than less, it’s likely going to be sought more by both big and small money, and there’s a limited supply, so the price long term should go up.
I don't think anyone in this thread is shitting on BTC or ETH.
Telle me how much Gamecoin you'd suggest people invest in
Posted on 6/30/22 at 3:24 pm to SlowFlowPro
These are the times I feel good about always playing it safe.
The other times I feel dumb not taking advantage of 3 quadrillion % interest rates.
The other times I feel dumb not taking advantage of 3 quadrillion % interest rates.
Posted on 6/30/22 at 4:04 pm to SlowFlowPro
quote:
Why are you referencing BTC when I said the big dogs have value?
Because the very next sentence you said this:
quote:
The problem with crypto is that unlike other bubble asset classes, you could literally create one out of thin air to pump and dump
And the 1st sentence was this:
quote:
Crypto just became the latest tulip
quote:
I said that people could create shitcoins and pump/dump bubble assets like no asset class humanity has ever seen. What is incorrect about that?
But you said crypto. BTC is crypto.
These type of comments suggest you are just shite posting.
I mean, if you even took the 30 seconds it would take to see where the overwhelming majority of the 1 Trillion in crypto are allocated, you wouldn't need to say such things. The space is already solid.
People like you ONLY use "shitcoins" as your go to.
Also, this liquidation has nothing to do with shitcoins.
This post was edited on 6/30/22 at 4:12 pm
Posted on 6/30/22 at 5:26 pm to JayDeerTay84
A very serious problem in the space is that people lump bitcoin/Ethereum in the "crypto" title when 99.9% of crypto is indeed bullshite, scams, worthless, tulips, ponzis, and many more terms. So when someone says "crypto is tulips", you average bitcoin person like myself this that person is an idiot but that person could be referencing the other 99% of the space.
Posted on 6/30/22 at 6:13 pm to RobbBobb
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