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george castanza
Lord Of The Idiots!


Registered: 10/21/02
Posts: 8,721
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"Main Stream Acceptance of Cryptocurrency, The Fix Is In"
#27262664 - 03/21/21 12:20 AM (2 years, 10 months ago) |
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So with all the big old money moving into the crypto game it would be foolish to believe that there will not be manipulation of the markets, or minimally attempts to do so by those with enough stake to get it off, it's why the little guy gets fucked in the stock market and there is no reason not to expect it in the future of crypto.
You may believe that the world's "royalty" and the world "leaders" are all great people who are honest and just want what is best for you. History actually very strongly suggests that these people are what remains of the Roman empire, which was filled with deviants of all types.
My question is does the little guy have any chance in the crypto game or is it too late?
It seems obvious to me that these criminals (bankster gangsters) only decided to make crypto legit after they had stolen and confiscated enough bitcoins through various governments and other entities to let their buddies in with the big cash "legitimate style" to start manipulating the market.
This thread is where you can post your suspicions or reasons why you think "The fix is in", that way we can keep the main crypto thread on topic, because money does matter and getting fucked out of yours by someone who doesn't even need it sucks. But believe it or not there are still people with real power who enslave other humans and take pleasure in causing pain.
Is the fix in? Or can you trade me some rose colored glasses for my shit covered perception of big brother?
Also, feel free to post why you may believe a particular asset move is sound because of a governmental/whale action.
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bodhisatta 
Smurf real estate agent


Registered: 04/30/13
Posts: 61,889
Loc: Milky way
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Re: "Main Stream Acceptance of Cryptocurrency, The Fix Is In" [Re: george castanza]
#27262850 - 03/21/21 06:57 AM (2 years, 10 months ago) |
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You're safe if you have the same patience as big money does. The people that buy and sell every day will get fucked. Trying to time pumps and dumps is the kind of gambling that will make it seem like you're doing well and then eventually you lose big. Strategies like geo's ladder selling will work for you. Hate to name names but strategies like what nature boy is doing I feel will be an extreme backfire, for most people, also when you have to pay taxes you'll be like oh fuck.
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LeafRaker
nomad



Registered: 11/28/11
Posts: 718
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Re: "Main Stream Acceptance of Cryptocurrency, The Fix Is In" [Re: bodhisatta]
#27263073 - 03/21/21 10:30 AM (2 years, 10 months ago) |
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Why would you be sure that the fix wasn't in before??? Since it is crypto, there's some opacity to it. And putting it together in the first place would have to been a fairly big $$$ operation.
I'm not sure of anything, but I am weirded out by how evangelical this board is about crypto. Being ready for it's being less than special seems a very obvious thing to me.
-------------------- Knowledge is finite, ignorance is infinite.
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sh4d0ws
LSx


Registered: 02/26/08
Posts: 12,086
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Re: "Main Stream Acceptance of Cryptocurrency, The Fix Is In" [Re: LeafRaker] 1
#27263196 - 03/21/21 12:23 PM (2 years, 10 months ago) |
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You seem to be on a vendetta against crypto, leafraker.
For those of us who have been in multiple years, we've already realized large gains that made the whole thing worthwhile.
Will there be another bear cycle? Most certainly. Is it some big money conspiracy to fuck the little guys? I don't think so.
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george castanza
Lord Of The Idiots!


Registered: 10/21/02
Posts: 8,721
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Re: "Main Stream Acceptance of Cryptocurrency, The Fix Is In" [Re: sh4d0ws]
#27265131 - 03/22/21 09:40 PM (2 years, 10 months ago) |
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Quote:
sh4d0ws said: You seem to be on a vendetta against crypto, leafraker.
For those of us who have been in multiple years, we've already realized large gains that made the whole thing worthwhile.
Will there be another bear cycle? Most certainly. Is it some big money conspiracy to fuck the little guys? I don't think so.
Thank you for sharing.
I'm not against crypto, just made this thread to help keep the main crypto thread clean of sideline subjects.
In fact, I am a hard money person myself (real coin money) and I collect coins ( among other things) to the degree my finances allow.
I do own a few different crypto coins and do not begrudge anyone who has made a million dollars in the market, legit or not it is here to stay, and I also see huge earning potential. In fact, one thing I like about cryptocurrency is the whales can act anonymously.
So now that the big financial houses are involved I believe that j.q. pub need to stay sharp on their game to maintain steady gains in this type of market.
What I believe I am seeing at this time is the future of a stock market sector as well as an unlimited potential financial vehicle that could potentially do away with "official" governance in the financial markets.
I just like playing devil's advocate, it seems to sift the truth out of most people.
"Are people scamming?!?! Of course they are! But we are scamming the scam!" - Rolando
-------------------- KRAMER CAKES


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sh4d0ws
LSx


Registered: 02/26/08
Posts: 12,086
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Re: "Main Stream Acceptance of Cryptocurrency, The Fix Is In" [Re: george castanza]
#27265214 - 03/22/21 10:49 PM (2 years, 10 months ago) |
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FWIW that comment was directed at leafraker, not by any means intended for you
I think your thread asks some decent questions, but bodhi probably summed it up best.
There will be plenty of smaller investors/little guys that get screwed from the crypto market. People that aren't patient, or that panic sell, or that try to daytrade are the folks who will end up losing money rather than gaining money (there is a small amount of people that are successful daytrading crypto, most are not). Consider the people who bought the top in December 2017 only to sell a couple months later at major losses. Had they held for just 3 years they'd have made big gains. The crypto market is extremely volatile and it takes discipline to hold when you see things depreciate 85% over a year.
I would consider myself a little guy too ...I have made quite a bit of money from crypto. I have been in it longer than some, but even people who invested in bitcoin in January could sell now with serious gains.
Edited by sh4d0ws (03/22/21 11:00 PM)
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george castanza
Lord Of The Idiots!


Registered: 10/21/02
Posts: 8,721
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Re: "Main Stream Acceptance of Cryptocurrency, The Fix Is In" [Re: LeafRaker]
#27265234 - 03/22/21 11:01 PM (2 years, 10 months ago) |
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Quote:
sh4d0ws said: FWIW that comment was directed at leafraker, not by any means intended for you
Right right right.
But he definitely brought the conversation to the appropriate spot.
Quote:
LeafRaker said: Why would you be sure that the fix wasn't in before??? Since it is crypto, there's some opacity to it. And putting it together in the first place would have to been a fairly big $$$ operation.
I'm not sure of anything, but I am weirded out by how evangelical this board is about crypto. Being ready for it's being less than special seems a very obvious thing to me.
I agree with the sentiment that it could be rigged from the start.
The reason crypto is crazy on this board (I'm just guessing as a longtime member) is that these boards are full of nerds, neckbeards, nincompoops, geniuses, idiot savants, and a host of other stereotypical "fringe idea people".
Now you have the song Lunatic Fringe stuck in my head...thanks
-------------------- KRAMER CAKES


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LeafRaker
nomad



Registered: 11/28/11
Posts: 718
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Re: "Main Stream Acceptance of Cryptocurrency, The Fix Is In" [Re: sh4d0ws]
#27265551 - 03/23/21 06:58 AM (2 years, 10 months ago) |
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No 'vendetta', just realism. I first bought when BTCUSD was 20 or so, there's a good chance I was through with it before you knew what to do with it.
This board is disturbingly pro-crypto. Basically noting related to money is a sure thing or worthy of the cultishness I see here with crypto. A little bit of skepticism goes a very, very long way. And that rock-solid financial insight should go doubly or triply for the kinds of folks who do psychedelics, people who should be questioning the common narratives.
-------------------- Knowledge is finite, ignorance is infinite.
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LeafRaker
nomad



Registered: 11/28/11
Posts: 718
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Re: "Main Stream Acceptance of Cryptocurrency, The Fix Is In" [Re: george castanza]
#27265562 - 03/23/21 07:11 AM (2 years, 10 months ago) |
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Yeah, I get you with the weird ideas and the personalities that go in for that stuff. I totally count myself as one of those folks.
What gets me about the current crypto environment is that it's not the world of 10 years ago when it was the exclusive domain of the (well-off, but probably not usually rich) neckbeard weirdos. At present trades, the existing crypto currencies are worth an amount near $1.7T. That's staggering! The amount here is like a TBTF bank or a top ten asset manager. I think we need to think that crypto may have jumped, if not the shark, at least out of the somewhat self-contained world of moderately well-off neckbeards and into something much bigger and potentially much scarier.
This is all uncharted territory and I don't feel bad pushing back against the grand version here. I know Ythan says this board is paid up for something like 10 years, but my paranoid side would feel even better about the long-term health of the board if I was sure that the money advice here wasn't too starry eyed about anything. Ultimately, this board is paid for out of member's accounts, so...
-------------------- Knowledge is finite, ignorance is infinite.
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bodhisatta 
Smurf real estate agent


Registered: 04/30/13
Posts: 61,889
Loc: Milky way
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Re: "Main Stream Acceptance of Cryptocurrency, The Fix Is In" [Re: LeafRaker]
#27265572 - 03/23/21 07:21 AM (2 years, 10 months ago) |
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Its paid by sponsors and advertising. I would imagine supporter accounts being somewhat of a drop in the bucket
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LeafRaker
nomad



Registered: 11/28/11
Posts: 718
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Re: "Main Stream Acceptance of Cryptocurrency, The Fix Is In" [Re: bodhisatta]
#27265590 - 03/23/21 07:36 AM (2 years, 10 months ago) |
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Are you familiar with the site's accounts??? At any rate, the members financial health + the ad revenue have to be closely related. There's still an open question of where the critical values are.
And not gambling on continuing exponential returns for an asset is basically always a good idea. And that's also a decent thing to remind others.
-------------------- Knowledge is finite, ignorance is infinite.
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bodhisatta 
Smurf real estate agent


Registered: 04/30/13
Posts: 61,889
Loc: Milky way
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Re: "Main Stream Acceptance of Cryptocurrency, The Fix Is In" [Re: LeafRaker]
#27265609 - 03/23/21 07:47 AM (2 years, 10 months ago) |
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No but certainly more so than you since you were absurdly wrong.
Also idk why you think crpyto and the sites assets are related. Besides the acceptance of crypto as payment
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Brian Jones
Club 27



Registered: 12/18/12
Posts: 12,340
Loc: attending Snake Church
Last seen: 2 hours, 52 minutes
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Re: "Main Stream Acceptance of Cryptocurrency, The Fix Is In" [Re: bodhisatta]
#27265794 - 03/23/21 09:57 AM (2 years, 10 months ago) |
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I'm not sure who but I think it was geo, who has commented knowledgably about the site's accounts.
-------------------- "The Rolling Stones will break up over Brian Jones' dead body" John Lennon I don't want no commies in my car. No Christians either. The worst thing about corruption is that it works so well,
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bodhisatta 
Smurf real estate agent


Registered: 04/30/13
Posts: 61,889
Loc: Milky way
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Re: "Main Stream Acceptance of Cryptocurrency, The Fix Is In" [Re: Brian Jones]
#27265799 - 03/23/21 10:00 AM (2 years, 10 months ago) |
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Surely there's some savings that may get used for investment. But to think that the account supporting the site is on such rocky ground. Nah I would be extremely surprised to hear that.
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george castanza
Lord Of The Idiots!


Registered: 10/21/02
Posts: 8,721
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Re: "Main Stream Acceptance of Cryptocurrency, The Fix Is In" [Re: Brian Jones]
#27265850 - 03/23/21 10:37 AM (2 years, 10 months ago) |
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Quote:
Brian Jones said: I'm not sure who but I think it was geo, who has commented knowledgably about the site's accounts.
geo does handle the business end of the site as far as dealing with sponsorship and such, I would say that the sight is in very safe hands, multiple backups, smart finance management, no crazy advertising expenses, free moderation. Multiple people who would pick up the torch if it were abandoned....
To stop the spread of dangerous misinformation about magic mushrooms is an important task, I think we will keep at it, I have literally seen the world's perceptions begin to turn on this very subject.
-------------------- KRAMER CAKES


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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
Loc: city of angels
Last seen: 2 hours, 30 minutes
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Re: "Main Stream Acceptance of Cryptocurrency, The Fix Is In" [Re: george castanza]
#27266018 - 03/23/21 12:35 PM (2 years, 10 months ago) |
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Cryptocurrency has in a sense supported the Shroomery via its intended use case of banking the unbanked . While we are setup as a fully compliant tax paying corporation, and do have a bank account (and have even found a way to resume accepting credit cards for certain transactions such as the swag.haus), there was a period of several years where the companies supporting credit card/merchant processing (i.e. PayPal, Square, Stripe, even some high fee high risk international processors in Mexico and China!) refused to work with us. We jumped through a few different solutions, but were repeatedly cutoff after 1-3 months in every instance, after spending a bunch of time bringing the new system(s) up to speed in hopes they would be viable long term solutions. That period of time was a real pain in the ass.
On the other hand it also proved to be a blessing in disguise, as it pushed us to encourage our accounts receivables to submit payments via crypto whenever possible, and a lot of those payments came in at substantially lower levels than where we are today. Because we have been able to control our costs, in large part thanks to our deep network of volunteer staff whom I am eternally grateful for, practically all of those receivables remained in crypto rather than being converted to fiat.
Needless to say, while we were on fairly stable footing to begin with, we have a pretty sweet war chest these days, including diversified investments in fixed income peer to peer loans, traditional equity, cryptocurrency and even a Series A private investment in a Canadian mushroom-centric retail/therapy startup. As it stands, our steadfast sponsor support can cover our basic expenses, and we are now working on planning new development to improve the website, with a specific focus on how we can best approach a more mobile friendly format. While we have the monetary resources to proceed on the project, we are also mindful that we don't necessarily want to gut our combination of unique and old school features in the process... which makes the transition a bit more complicated than it may seem on the surface, given the decades long effort of hacked together development that is our software infrastructure.
I digress... TLDR: We are actively invested fairly aggressively across sectors, we don't really like to hold cash, but the bulk of our investments are liquid and even the dramatic volatility of crypto, at this point, is highly unlikely to meaningfully reduce our ability to maintain the Shroomery as a going concern.
--------------------
-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 22 hours, 13 minutes
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Re: "Main Stream Acceptance of Cryptocurrency, The Fix Is In" [Re: geokills]
#27266090 - 03/23/21 01:16 PM (2 years, 10 months ago) |
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I know people think a $1.7 trillion market capitalization of the entire Crypto market is some huge hum, but not if put into the proper perspective. Just the value of one stock (Apple) is over $2 trillion in market capitalization. Bitcoin is starting to assume the role of global reserve currency status, $1 trillion is a drop in the bucket at this point. Bitcoin is going to leave gold ($11 trillion) in the dust in less than 5 years and that's likely a very conservative time frame.
Should we examine the trillions of debt around the world yielding negative to near 0% rates of interest?
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LeafRaker
nomad



Registered: 11/28/11
Posts: 718
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Re: "Main Stream Acceptance of Cryptocurrency, The Fix Is In" [Re: geokills]
#27266334 - 03/23/21 03:56 PM (2 years, 10 months ago) |
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Mondo thanks for all that! Details like that are juicy and good to know.
My basic worry is that as I start to see highly correlated portfolios amongst the community, the risk of a big reversal of fortune goes way, way up. While there's the actual corporation's balance sheet, having members chasing a lot of the same trades at once worries me a bit as a second-order risk. Hopefully I'm just paranoid, but it's worth remembering that even really on top of the world folks have big gaps in their knowledge and often don't foresee some big risks.
And I'd rather members not get too out on a limb with their own finances. I'm not totally against crypto (I did first buy a loooong time ago), but the mushrooms always warn me about getting too enamored of these brave, new world pitches. Some skepticism about these markets seems like NBD to me, especially after an epic run-up. But hopefully I'm wrong!
-------------------- Knowledge is finite, ignorance is infinite.
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LeafRaker
nomad



Registered: 11/28/11
Posts: 718
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Re: "Main Stream Acceptance of Cryptocurrency, The Fix Is In" [Re: qman]
#27266341 - 03/23/21 04:01 PM (2 years, 10 months ago) |
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Second paragraph: I'm with you.
First paragraph: not so much.
It's important to remember that absent a complete picture, our understanding of the risks is limited. I know more than most about what a couple trillion USD in assets looks like and even under the best of circumstances concentrations of this size is a reason for worry. I hope you are closer to reality than I think, but I'm not yet persuaded.
-------------------- Knowledge is finite, ignorance is infinite.
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george castanza
Lord Of The Idiots!


Registered: 10/21/02
Posts: 8,721
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Re: "Main Stream Acceptance of Cryptocurrency, The Fix Is In" [Re: geokills]
#27266644 - 03/23/21 08:22 PM (2 years, 10 months ago) |
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Quote:
geokills said: Cryptocurrency has in a sense supported the Shroomery via its intended use case of banking the unbanked . While we are setup as a fully compliant tax paying corporation, and do have a bank account (and have even found a way to resume accepting credit cards for certain transactions such as the swag.haus), there was a period of several years where the companies supporting credit card/merchant processing (i.e. PayPal, Square, Stripe, even some high fee high risk international processors in Mexico and China!) refused to work with us. We jumped through a few different solutions, but were repeatedly cutoff after 1-3 months in every instance, after spending a bunch of time bringing the new system(s) up to speed in hopes they would be viable long term solutions. That period of time was a real pain in the ass.
On the other hand it also proved to be a blessing in disguise, as it pushed us to encourage our accounts receivables to submit payments via crypto whenever possible, and a lot of those payments came in at substantially lower levels than where we are today. Because we have been able to control our costs, in large part thanks to our deep network of volunteer staff whom I am eternally grateful for, practically all of those receivables remained in crypto rather than being converted to fiat.
Needless to say, while we were on fairly stable footing to begin with, we have a pretty sweet war chest these days, including diversified investments in fixed income peer to peer loans, traditional equity, cryptocurrency and even a Series A private investment in a Canadian mushroom-centric retail/therapy startup. As it stands, our steadfast sponsor support can cover our basic expenses, and we are now working on planning new development to improve the website, with a specific focus on how we can best approach a more mobile friendly format. While we have the monetary resources to proceed on the project, we are also mindful that we don't necessarily want to gut our combination of unique and old school features in the process... which makes the transition a bit more complicated than it may seem on the surface, given the decades long effort of hacked together development that is our software infrastructure.
I digress... TLDR: We are actively invested fairly aggressively across sectors, we don't really like to hold cash, but the bulk of our investments are liquid and even the dramatic volatility of crypto, at this point, is highly unlikely to meaningfully reduce our ability to maintain the Shroomery as a going concern.
Wow! What an open clarification of assets, so quickly too, one reason there is no doubt the Shroomery rocks for eternity 
Quote:
LeafRaker said:
It's important to remember that absent a complete picture, our understanding of the risks is limited.
No doubt. :
Edited by george castanza (03/23/21 08:31 PM)
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