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LeafRaker
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Registered: 11/28/11
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Asante]
#27257013 - 03/17/21 09:26 AM (2 years, 10 months ago) |
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Greetings, I am new to this thread, so I apologize if this has been covered before. I did search the entire board to see if some terms related to my conjecture had appeared before in these discussions. Short answer: not recently, though there's a chance I've chosen the wrong terms. I apologize if this comment is a waste.
It seems typical to think of cryptocurrency as an outsider-whiz thing. I'm super curious to ask if anyone has considered it to be an insider-whiz thing. I know more people than most with the requisite skills to have put this together and it disturbs me that many of those with the requisite skills are actually already quite rich+powerful and are among the best at eluding laws and manipulating the little people to their own advantage.
Without naming names, I'd wonder if there's ever been speculation that the brains behind the big cryptocurrencies are actually very well financed in USD terms and more 'respectable' than have generally been imagined.
-------------------- Knowledge is finite, ignorance is infinite.
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LeafRaker
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Registered: 11/28/11
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: trees]
#27257076 - 03/17/21 09:57 AM (2 years, 10 months ago) |
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You're thinking small, hombre.
-------------------- Knowledge is finite, ignorance is infinite.
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LeafRaker
nomad



Registered: 11/28/11
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: trees]
#27257094 - 03/17/21 10:10 AM (2 years, 10 months ago) |
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I told you that I know some folks with the chops to put this together, so while I am speculating, I'm a good bit savvier here than most. There's a very, very long history of big crazy financial Rube Goldbergs being put together by super-cynical folks. It always ends very badly and impacts many who weren't directly involved.
-------------------- Knowledge is finite, ignorance is infinite.
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LeafRaker
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: qman]
#27257477 - 03/17/21 01:44 PM (2 years, 10 months ago) |
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Quote:
You're not the first to come up with that conspiracy theory and you won't be the last. It usually comes from people that don't understand the history of crypto and people that feel they missed the boat on the massive gains.
Could you sound any more wet behind the ears? That's a serious question, BTW. I'm not sure if you could sound wetter behind the ears.
The skills needed to put this stuff aren't typical and the people who have them are very likely to be very, very well paid for them. Besides, very few people in and around big money things aren't playing an information arbitrage game. Simply put, I'm guessing the herd celebrating crypto at this point hasn't thought much about what could be wrong with it and that it just might end in tears. It is weird how little folks on a psychedelic ('they open your mind, man!') board are looking beyond the typical line.
I'm still going to ask: how seriously has anyone looked at the possibility that this is all a big Rube Goldberg designed to benefit a select few???
BTW, I first bought when BTCUSD was 20...
-------------------- Knowledge is finite, ignorance is infinite.
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LeafRaker
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: trees]
#27257484 - 03/17/21 01:48 PM (2 years, 10 months ago) |
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Quote:
trees said:
Quote:
teknix said: The whole insider and outsider thingy, I'm not exactly sure what you mean?
It's just 
Haha! In every society, there's a small group who are good at making things work for them in virtually any situation, those are insiders. Almost everyone is an outsider of whom the insiders reliably get the better.
My suspicion is that crypto won't be an ultimate defense against some feared inflation monster. It'll end up more like just another financial scam and that people who are already anomalously powerful (insiders!) will be the biggest beneficiaries.
-------------------- Knowledge is finite, ignorance is infinite.
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LeafRaker
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
#27259088 - 03/18/21 02:50 PM (2 years, 10 months ago) |
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This is, IMO, much more interesting that what most have posted here.
The inflation obsession is, to my mind, a weird holdover from the 1970s and massively over-hyped as concern. Negative interest rates I understand as a tad more problematic, but still they're far from heart attack territory. In the case of both inflation and negative interest rates, the obvious hedge is to lever up, assuming relatively low borrowing costs and fixed rates.
But I think you touch on the real reason for crypto: liquidity in odd situations. Moving money for reasons that are at least in the eyes of the state, dubious. But users are almost certainly paying for that functionality. Market makers and others will assuredly take their cut in such a system.
-------------------- Knowledge is finite, ignorance is infinite.
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LeafRaker
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: eLeSDenes]
#27259092 - 03/18/21 02:54 PM (2 years, 10 months ago) |
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Quote:
eLeSDenes said:
Quote:
LeafRaker said:
Quote:
You're not the first to come up with that conspiracy theory and you won't be the last. It usually comes from people that don't understand the history of crypto and people that feel they missed the boat on the massive gains.
Could you sound any more wet behind the ears? That's a serious question, BTW. I'm not sure if you could sound wetter behind the ears.
The skills needed to put this stuff aren't typical and the people who have them are very likely to be very, very well paid for them. Besides, very few people in and around big money things aren't playing an information arbitrage game. Simply put, I'm guessing the herd celebrating crypto at this point hasn't thought much about what could be wrong with it and that it just might end in tears. It is weird how little folks on a psychedelic ('they open your mind, man!') board are looking beyond the typical line.
I'm still going to ask: how seriously has anyone looked at the possibility that this is all a big Rube Goldberg designed to benefit a select few???
BTW, I first bought when BTCUSD was 20...
Dude, btc (and most cryptos) are open source, meaning that basically anyone can take a copy of it and check for hacks, exploits, etc.... You can also query the blockchain and make sure that it is indeed a decentralised database... so just do your own research to decide if it's the right investment for you - the data is all there
Is that a complete list of things that could go wrong? I'm pretty sure it isn't.
Realize this: big finance, big gambling, etc. are all games that are put together where the house wins. Given the recent run up, this is the time where smart people or people who question common assumptions (shroomers???) should ask if the big, tough questions.
Realize that asking big questions might be good for your bottom line.
-------------------- Knowledge is finite, ignorance is infinite.
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LeafRaker
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Enkidu]
#27259098 - 03/18/21 03:00 PM (2 years, 10 months ago) |
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Thanks. A lot of what I'd hope to get across is, at a high point you should be thinking your hardest about what *could* go wrong. It's probably the time to be fearful, not greedy.
I'm super glad you have taken some profits. I think if people are sitting crypto accounts that are multiples of their initial dollar investments, it might make sense cash out enough to be ahead in dollar terms. This is especially true if you have any high- or variable-rate debt in dollars that the profits could payoff.
-------------------- Knowledge is finite, ignorance is infinite.
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LeafRaker
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: budmanman]
#27269720 - 03/26/21 04:26 AM (2 years, 9 months ago) |
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I was eyeing elongate, but on the chart I saw head and shoulders pattern with strong resistance to white flakes. I prefer to see breck girl, her TA could keep me going up for a while.
-------------------- Knowledge is finite, ignorance is infinite.
Edited by LeafRaker (03/26/21 04:32 AM)
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LeafRaker
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: budmanman]
#27269722 - 03/26/21 04:28 AM (2 years, 9 months ago) |
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You must have been looking at some dramatic new tech. I got tired of doing dummy thicc waffle swaptions to grab extra buttcoin. Seems you guys have figured out how to make the stench more pronounced.
-------------------- Knowledge is finite, ignorance is infinite.
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LeafRaker
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Asante]
#27269862 - 03/26/21 07:10 AM (2 years, 9 months ago) |
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Short-term movements in financial instruments are mostly noise. Major market makers will tell you, if you gain their trust, of price movements being driven by someone needing to urinate urgently or wanting to spook the guy who said something inappropriate to someone's wife or just for sport. It's a fool's game to draw conclusions in most instances.
That being said, your countrymen's best efforts to refloat that sand-beached whale and get it to your country's largest port aren't going so well. Given that part of the world's importance and the place of time in finance, we are likely seeing stresses reverberate throughout the global financial system that will test many markets, including crypto.
-------------------- Knowledge is finite, ignorance is infinite.
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LeafRaker
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: trees]
#27271689 - 03/27/21 11:23 AM (2 years, 9 months ago) |
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Quote:
trees said: Sounds kinda dumb like a children's crypto gambling scheme, not real crypto trading, it's made especially for kids to "yeet" their parents money away, seems like you fell into it pretty hard you're all cracked covering entire pages in just your posts one after another about poopcoin saying you've made 30x, again and again who gives fuck about that lol. Quit shilling your scam coins, I dont think anyone gives a shit. You sound like a 15 year old kid on steroids 
It's awesome that the possible 15 y.o. kid (on steroids? nah, really good speed!!!) has an account almost as old...
He reads like a parody...I find it quite entertaining, TBH. And criticism of him isn't all that different from expected criticism of crypto.
Two things he has said stand out as extra sane, though: 1. Only play with fiat you're willing to lose, aka you treat this as if were gambling 2. Look for quick mondo returns, likely in new instruments, not mature markets. Sounds to me like he/she gets the Sharpe Ratio...
-------------------- Knowledge is finite, ignorance is infinite.
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LeafRaker
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Registered: 11/28/11
Posts: 718
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Enkidu]
#27281190 - 04/25/21 07:13 AM (2 years, 8 months ago) |
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With the caveat that I'm a skeptic/nocoiner who's tangled with you guys upthread, I think you're actually adding a lot here with these thoughts.
It's easy to be blinded by certain attractive possibilities, but it's a mistake to do so with something so complex+consequential. On a psychedelic board, I think that's doubly important. One should always push oneself to consider new possiblities.
Best wishes going forward!
-------------------- Knowledge is finite, ignorance is infinite.
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LeafRaker
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: ManianFH]
#27286285 - 04/29/21 08:32 AM (2 years, 8 months ago) |
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Quote:
mick said:
Quote:
budmanman said: Doge is maybe going to explode this Saturday.
why do you say that?
who knows? aren't we all maybe going to explode this Saturday?
-------------------- Knowledge is finite, ignorance is infinite.
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LeafRaker
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: CHeifM4sterDiezL] 1
#27317181 - 05/21/21 07:13 AM (2 years, 8 months ago) |
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I'm reminded here that Chief is the one who made the successful getaway from the asylum and Nurse Ratchet...
-------------------- Knowledge is finite, ignorance is infinite.
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LeafRaker
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Asante]
#27318726 - 05/22/21 11:57 AM (2 years, 8 months ago) |
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Crypto fucked itself.
Little guys were suckers.
Elon *might* have been the proximate cause, but it was nearly inevitable given the game.
-------------------- Knowledge is finite, ignorance is infinite.
Edited by LeafRaker (05/22/21 05:04 PM)
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LeafRaker
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: budmanman]
#27318999 - 05/22/21 05:09 PM (2 years, 8 months ago) |
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Do you expect your holds to be higher still in five years? And if so, why?
I see tons of technical analysis in these discussions and it feels like a cargo cult. I've never seen a good fundamental case for holding coins for years. It might work out, but it's no where close to sure thing.
-------------------- Knowledge is finite, ignorance is infinite.
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LeafRaker
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Enkidu]
#27319757 - 05/23/21 09:52 AM (2 years, 8 months ago) |
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Past performance doesn't guarantee future returns. You've taken the 10 year chart for BTC and assumed those patterns are stable. That's the technical analysis cargo cult I was referring to before.
Crypto lacks a useful idea at all! Coins are just electronic ledgers, there's no inherent usefulness to them and perhaps more importantly for the value discussion, there's no scarcity to exploit. Big wealth is certainly about usefulness, but even more than that it's about exploiting scarcity (which coins don't have) and also exploiting social arrangements (monopolies on violence), which coins also lack.
I've read lots here, believe me I spend way more than 10x more of my time reading you guys talk up crypto as I spend dissing crypto by posting on it. I'm very, very well versed in big finance and like lot of neckbeards who know big finance I'm obsessed with scams. Crypto, I'm afraid, smells like a scam.
If you treat this like gambling, that is entertainment where you might come up with some winnings, fine. You seem to have almost understood that with your mention of a ponzi. But the thesis that you are on the cusp of some brave, new world has basically nothing to support it and a tsunami against it.
Bet (buy crypto, that is) as if you could lose it all tomorrow. It is the only smart way to play this. If you hold coins for years, be sure you're willing to see them evaporate overnight in their fiat value.
-------------------- Knowledge is finite, ignorance is infinite.
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LeafRaker
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: gopher]
#27319764 - 05/23/21 10:04 AM (2 years, 8 months ago) |
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"Some value" could be .00001% of current value. Whatever crypto is, it is not a store of value.
-------------------- Knowledge is finite, ignorance is infinite.
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LeafRaker
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: qman]
#27319930 - 05/23/21 12:38 PM (2 years, 8 months ago) |
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You've got me beat on making silly arguments and bad generalizations...
As far as understanding markets it's totally another matter.
-------------------- Knowledge is finite, ignorance is infinite.
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