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Started By
Message
re: Official CryptoTalk Thread
Posted on 2/20/21 at 11:49 am to bayoubengals88
Posted on 2/20/21 at 11:49 am to bayoubengals88
What are your greatest fears of CRYPTO? And what are they?
Mine are:
1) trading platform computer system failure
2) ridiculous federal regulation
3) individual countries starting there own CRYPTO
4) there is certainly an end-game, when is it?
5) cyber crimes that ruin the market
I am very bullish until changes start to evolve.....
I watch the financial news daily, like I have never before!
Comments please.....
Mine are:
1) trading platform computer system failure
2) ridiculous federal regulation
3) individual countries starting there own CRYPTO
4) there is certainly an end-game, when is it?
5) cyber crimes that ruin the market
I am very bullish until changes start to evolve.....
I watch the financial news daily, like I have never before!
Comments please.....
7
Posted on 2/20/21 at 11:58 am to oldskule
quote:
1) trading platform computer system failure
Hedge your bets with a cold wallet and don’t leave all of your coins on a hot wallet hosted by a exchange is this is a concern
quote:
2) ridiculous federal regulation
I think the ship has sailed on anything resembling a ban now that institutions are in. I also think their feeble attempts to regulate crypto will be a failure and only signal to everyone that they know the USD is the inferior financial instrument
quote:these tokens will not offer any of the benefits of the tokens readily traded and stablecoins already exist so there really is no point to government issued cryptos at all from my perspective
3) individual countries starting there own CRYPTO
quote:
4) there is certainly an end-game, when is it?
talk to SpaceX cause Papa Elon is taking us to the moon and then to Mars
This post was edited on 2/20/21 at 11:59 am
Posted on 2/20/21 at 11:58 am to oldskule
This is pretty interesting made this post 9-12-18 . Let’s see how it aged.
quote:
Analysis of Chainlinkquote:Basically Chainlink network allows for external data to be brought into smart contracts. Right now a smart contract is basically i do this you do that (send eth to contract address and tokens are sent back) With Chainlink the sky is the limit on smart contracts. The thing about Chainlink is the network is decetralized which is the whole point of blockchain technology. Multiple nodes validate the data apis and this data can be used. Smartcontract owners select chainlink nodes and pay for their data in link tokens. The node also puts up their link tokens as collateral to ensure they are providing correct data. There are other oracles (data providers) out there but they all exist as a central point of failure. The oracle fricks up the whole contract is shite. The rabbit hole of speculated connections that chainlink has is astounding. From Swift, Salesforce, Microsoft, Docusign, Tesla the use cases for Chainlink are endless and eliminate thousands of shite coins in the space and most shitcoins cant do what they claim without the use of chainlink. Lately Link has been pumping based on its involvement with The Accord Project and news of a https://medium.com/@OpenLawOfficial/openlaw-teams-with-chainlink-to-bring-real-world-info-to-smart-contracts-4e7a3dac80a8. Sergey was on a panel a few months ago at SXSW presenting on how smartcontracts will get rid of lawyers. He has also presented at SIBOS and did a proof of concept with SWIFT dealing with automated bond payments. The lore of chainlink right now is seen on biz. Yes the place is a cesspool but these guys do some serious research. From the top execs that can be linked to chainlink based on who they are following on twitter shows that this is a massive project. Many think that this was never supposed to fall into anyone hands other than the financial elite. Binance listed this token when binance was thought to be a chinese scam last october. Presale was ridiculous minimums that were met instantly and ico sold out in minutes. The supply is one billion which 350,000,000 has been sold, 350,000,000 is kept by the team, and 350,000,000 is to be used to incentive node operators and build the network. this timeline shows what has happened since ico
The Chainlink network provides reliable tamper-proof inputs and outputs for complex smart contracts on any blockchainbasically if smartcontracts are to succeed they will need the chainlink network and use of decentralized oracles. this team is the most antihype team in crypto and have shown that their product will speak for itself. will the predicted $1000 end of year price happen, probably not. but this will be a top 5 crypto and has plenty of room for growth and gain passive income when all the pieces come together.
Posted on 2/20/21 at 12:00 pm to oldskule
quote:
Mine are:
1) trading platform computer system failure
2) ridiculous federal regulation
3) individual countries starting there own CRYPTO
4) there is certainly an end-game, when is it?
5) cyber crimes that ruin the market
1. do you worry about chase bank or td ameritrade having a "computer system failure"?
2. its already regulated
3. that would make the crypto market even more bullish
4. the moon
5. again, do you worry about cyber crimes with your regular bank account?
stop being old
Posted on 2/20/21 at 12:09 pm to rocket31
I can only hope if the government ever tried to ban crypto it would be done as well as Prohibition or the War on Drugs and have the same price effects in crypto as they did on alcohol or weed 
Posted on 2/20/21 at 12:12 pm to oldskule
quote:
2) ridiculous federal regulation
This is the only thing on your list that is even close to a concern. We did see an attempt by the house progressives to essentially criminalize running an Ethereum node back in December and the SEC finally went after XRP. Alts sold off hard. I do think once government fully realizes what all of this stuff is going to do to them they are going to panic. You've seen it recently in India and Nigeria. But like another poster mentioned we are hitting a critical mass with institutions and corporates coming in which is going to make it much tougher since they own the government anyway. Also, this technology is innovating at such a rapid pace inefficient bureaucrats can't keep up. I think the risk is low here as well.
Posted on 2/20/21 at 12:18 pm to lsu777
quote:
A) GET kucoin
B) GRT along with link are long time winners
Thanks. I've got some GRT & Link. I'll look at buying more.
I'm going to upgrade to Coinbase Pro & look into kucoin.
Posted on 2/20/21 at 12:20 pm to UnluckyTiger
quote:
What do we think about KCS on Kucoin? Might've already been mentioned on here so sorry if I missed it. But this BNB run has me thinking going in on KCS.
There are two DEX that I think you can be early on that have massive return potential
Secret Swap (SCRT)
Nexus Earth (NXS)
Binance will always pump it's own projects by any means necessary and they will get away with it because it's Chinese. Look at injective protocol (INJ). Came from the Binance incubator
Edit: A whale is buying up SCRT like crazy. Huge pumps.
This post was edited on 2/20/21 at 2:03 pm
Posted on 2/20/21 at 12:31 pm to lsu777
Thanks, never tried kucoin.
Posted on 2/20/21 at 12:32 pm to lsu777
quote:
Wtf??? Dude you are missing the rocket ship. Main net launches March 1st. Bunch of pools just opened signaling a coinbase listing. Plus a couple other things coming up in April and may
LINK
Im back in. I got in just over $0.10 last summer and sold when it was $0.24. At the time I was happy as frick. haha.
My new position is $0.34 and have been adding some each week; so still VERY happy. Just kicking myself for being emotional and selling all of it.
This post was edited on 2/20/21 at 12:36 pm
Posted on 2/20/21 at 12:37 pm to rocket31
quote:
1. do you worry about chase bank or td ameritrade having a "computer system failure"?
2. its already regulated
3. that would make the crypto market even more bullish
4. the moon
5. again, do you worry about cyber crimes with your regular bank account?
stop being old
Responses like this are why your average Joe will have a hard time buying into crypto
His listed concerns are valid. Banks are backed by governments and insured to an extent. Same with brokerages.
More regulation is definitely coming. When though is the question.
Your response of the moon is telling because no one really knows when this stuff will be accepted. I hope everyone makes a good bit of money buying and holding.
The security and cyber crime angle is most definitely a concern. To say otherwise, is being dishonest.
Posted on 2/20/21 at 12:39 pm to HailToTheChiz
quote:
His listed concerns are valid. Banks are backed by governments and insured to an extent. Same with brokerages.
Which is why BTC's value will outpace the dollar for the foreseeable future. Money printer go BRRRRRRRR.
Also, many platforms have insurance now.
This post was edited on 2/20/21 at 12:40 pm
Posted on 2/20/21 at 12:41 pm to JayDeerTay84
quote:
Which is why BTC's value will outpace the dollar for the foreseeable future. Money printer go BRRRRRRRR.
Also, many platforms have insurance now
I'm obviously still reading about all this. I love this thread. Its fascinating to me.
So some sites like coinbase and Gemini have insurance to reimburse you if you lost your funds due to hackers or security breaches?
Posted on 2/20/21 at 12:44 pm to HailToTheChiz
quote:
So some sites like coinbase and Gemini have insurance to reimburse you if you lost your funds due to hackers or security breaches?
Yes. LINK
Even traditional banks are only insured to a certain extent. If you had 1 Million in WF and someone stole it all, you would basically be SOL on 75% of it.
Posted on 2/20/21 at 12:46 pm to JayDeerTay84
quote:
Even traditional banks are only insured to a certain extent. If you had 1 Million in WF and someone stole it all, you would basically be SOL on 75% of it.
Correct
Posted on 2/20/21 at 1:14 pm to oldskule
The answers you get will be different for each coin IMO. You can't lump crypto as a whole into one bucket here
Posted on 2/20/21 at 1:56 pm to TigerTatorTots
These altcoins are a joke. The market caps on tokens like sushicoin and pancake coin is billions. What a fricking joke. Can’t wait for it to come crashing down.
Posted on 2/20/21 at 2:01 pm to Fox McCloud
quote:
These altcoins are a joke. The market caps on tokens like sushicoin and pancake coin is billions. What a fricking joke. Can’t wait for it to come crashing down.
Bitcoin is the biggest joke of all then.
Posted on 2/20/21 at 2:02 pm to ChuckO1975
Nah. At least that makes some sense as a currency. The rest are a joke.
Posted on 2/20/21 at 2:04 pm to Fox McCloud
quote:
Nah. At least that makes some sense as a currency.
Bitcoin is not a currency and hasn't even tried to be a currency since the BCH fork. Perhaps reading and understanding is more important than talking about things you don't understand.
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