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re: Why is crypto crashing?
Posted on 5/19/22 at 10:26 am to Hulkklogan
Posted on 5/19/22 at 10:26 am to Hulkklogan
Sure everyone fairly familiar with risk/reward ratios
0
Posted on 5/19/22 at 10:39 am to NC_Tigah
quote:
What did crypto solve?
Worlds 1st trustless network.
No Fed
No government
No board
No policy
No "fixing"
Immune to policy collapse, war, government intervention, corruption.
quote:
If Iran issues a truckton of (basically) worthless IRR over time, and with each rial created immediately trades it for BTC, BTC price will concomitantly escalate. FOMO will draw in BTC "investors" resulting in further escalation. If Iran then cashes the BTC for western currency, it fills its coffers as BTC respondantly plummets beneath its would-be baseline.
LOL so you are saying Iran can print a worthless currency and buy BTC? From who? News flash, if their currency is worth zero they get Zero BTC in exchange.
But you know, with BTC, you cant just "issue" new tokens.... So yea..... about your point.......
Posted on 5/19/22 at 10:46 am to SlidellCajun
What should I be buying. Was thinking about XRP and Cardano.
Posted on 5/19/22 at 11:03 am to JayDeerTay84
quote:
Worlds 1st trustless network.
No Fed
No government
No board
No policy
No "fixing"
Immune to policy collapse, war, government intervention, and corruption.
None of this is true--especially the corruption part. We've seen countless amounts of corruption with cryto. 95% of the crypto projects are started with nothing but corrupt intentions.
And i;m not sure this wild wild west or "Law don't go round here" will ever take off with the masses--
Posted on 5/19/22 at 11:05 am to The_Duke
Like I said. You guys focus on shitcoins.
It would be the equivalent of me talking about a third world countries fiat to make a point.
You guys don’t want to discuss, you want to validate your opinions with shite Info.
And the law is math. Very very simple.
But hey, let’s see what Joe Biden can do for the dollar ey?
It would be the equivalent of me talking about a third world countries fiat to make a point.
You guys don’t want to discuss, you want to validate your opinions with shite Info.
And the law is math. Very very simple.
But hey, let’s see what Joe Biden can do for the dollar ey?
This post was edited on 5/19/22 at 11:08 am
Posted on 5/19/22 at 11:16 am to Hulkklogan
quote:
though i dont think LINK is required to use it.
All Chainlink services are paid for using LINK.
Posted on 5/19/22 at 11:19 am to JayDeerTay84
quote:
You guys don’t want to discuss, you want to validate your opinions with shite Info.
Aren’t you doing the same thing you accuse others of?
And what coin is your preferred?
Posted on 5/19/22 at 11:23 am to SlidellCajun
quote:
Aren’t you doing the same thing you accuse others of?
No. I only respond to questions asked. Just about every crypto thread the people “against” it use the most absurd examples and only talk about shite coins. Like shite pump and dump stocks don’t “also” exist. Like somehow crypto was the birth of financial scams.
This post was edited on 5/19/22 at 11:24 am
Posted on 5/19/22 at 11:26 am to JayDeerTay84
quote:
Like I said. You guys focus on shitcoins.
It would be the equivalent of me talking about a third world countries fiat to make a point.
Anything in the world that has a 95-99% scam rate--you would run. WHy is Crytpo different?
We are talking about adopting this for the majority of the population ---the masses wont look for the 1-2 good guys in the group of 100k bad guys. and because of that, it will all fail. The majority of your industry cant be scammers in a product trying to be main stream. The common man just wont go for it.
And no matter how good the 1-2 is, the common man is not putting money into something without rules and regulations that also have this high scam rate.
Someone steals my Visa card or my account info, you know what happens? I get my money back--why is that? because of policy, laws, and centralization. There is no 1-800 number to dial for crypto when grandma Jane loses access to her account. and if you reply with, "that will come in the future--it's still new" well now you're right back to middlemen controlling your money-aka banks.
Posted on 5/19/22 at 11:28 am to JayDeerTay84
quote:I don't really think you're a dummy. I don't. But you surely are playing one in this discussion.
LOL so you are saying Iran can print a worthless currency and buy BTC?
A currency's worth is obviously whatever the exchange determines it to be. With no valuation oversight, other than fiat-system assignments, valuation of a fiat-crypto exchange can lag, just as was the case in the Bitfinex incident, albeit with far lower capacity than a state player.
Crypto manipulation is not theoretical. Neither is fiat manipulation. It is just that at a $550B marketcap vs a circulation in the megatrillions, the threat in crypto is far more diverse.
All of which brings us back to the OP question. Why is BTC down?
Economy-based fiat flux is diagnosable. Sources of commodity flux are determinable. Rationale for stock volatility has basis. Why is BTC down?
Posted on 5/19/22 at 11:42 am to DeathValley85
quote:
All Chainlink services are paid for using LINK.
Good to know
Posted on 5/19/22 at 11:46 am to The_Duke
quote:
And no matter how good the 1-2 is, the common man is not putting money into something without rules and regulations that also have this high scam rate.
Totally agree.
It's a double-edged sword. I love the wild-west can-do-anything attitude of the crypto space and I want that to be proliferated and adopted, but I am under no grand illusions. If we want mass adoption of crypto and the monetary gains to be made for early adopters, that will come with a lot of regulation as time moves forward. I also have little faith that our gerontocrat leaders will ever understand what they're regulating.
This post was edited on 5/19/22 at 11:47 am
Posted on 5/19/22 at 11:48 am to SlidellCajun
quote:
Now I certainly don’t understand everything about crypto currency but it seems to me that with the inflation we’re seeing and subsequent rising interest rates, it would be the dollar that gets hammered and that crypto would be at least a stable currency.
The dollar has been relatively stable though.
Can anyone explain why?
Posted on 5/19/22 at 11:51 am to The_Duke
quote:
Anything in the world that has a 95-99% scam rate--you would run. WHy is Crytpo different?
This is false. Majority of the money is in two chains and those two chains are not scams.
Try harder.
Posted on 5/19/22 at 11:54 am to NC_Tigah
quote:
Why is BTC down?
More sellers than buyers.
Posted on 5/19/22 at 11:55 am to JayDeerTay84
quote:
This is false. Majority of the money is in two chains and those two chains are not scams.
Try harder.
The common man is not currently playing the crypto game. My great auntie has no clue what crypto is.
Posted on 5/19/22 at 11:56 am to The_Duke
quote:
The common man is not currently playing the crypto game. My great auntie has no clue what crypto is.
Your point? Does your auntie get on investor calls in between sewing your holiday sweaters?
This post was edited on 5/19/22 at 11:58 am
Posted on 5/19/22 at 12:02 pm to JayDeerTay84
quote:
Your point? Does your auntie get on investor calls in between sewing your holiday sweaters?
You are so removed from reality. The masses don't take investor calls or sit around watching stocks. You need to get out of your bubble.
If the goal for crypto is to become the default currency, how can that happen if the common man doesn't trust it? How can the common man trust it without regulation and policy?
Posted on 5/19/22 at 12:02 pm to JayDeerTay84
quote:Why?
More sellers than buyers.
Posted on 5/19/22 at 12:05 pm to Hulkklogan
quote:
Totally agree.
It's a double-edged sword. I love the wild-west can-do-anything attitude of the crypto space and I want that to be proliferated and adopted, but I am under no grand illusions. If we want mass adoption of crypto and the monetary gains to be made for early adopters, that will come with a lot of regulation as time moves forward. I also have little faith that our gerontocrat leaders will ever understand what they're regulating.
I keep going back to Game of Thornes regarding the theme of society forgetting certain important aspects of history and warping stories to fit their narratives.
The banks were created for a reason---every policy we have was created for a reason. there was already a time when we had the wild west of money and clearly, the ppl didn't like it so they worked to create these systems around it.
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