Current Events > The crypto bubble popped

(+) Yeah! (+)

Can't spell crypto without crypt.

SergeantGander posted...

Brave is a browser that is integrating the emerging technology of the blockchain into their business model.

i.e. Amazon is not the internet, but it does in fact utilize that specific technology

Emerging scam technology, sure
The blockchain isn't their business model. Their business model is getting you to click ads and selling your info for dollars.
The blockchain is for the worthless bullshit fakemoney they give you in return.

Bought some Litecoins

Dunno if it's been mentioned, but apparently tether depegged from the dollar sometime yesterday too.

Jabodie posted...

BTC is without a doubt not a solid crypto protect. Which is fair, since it was a pioneer.

But when these theoretical use cases become real applications, and crypto is well understood, they will no longer be investments.

BTC does what it intended to do just fine. A banking system that is accessible and open to everyone on the planet regardless of government sentiments, the security to drastically reduce the chance of centralized entities like governments from overtaking the system to control transactions like freezing a wallet (this is why the energy cost is so high), an open and transparent protocol on minting BTC with all with a guarantee at protocol level that no one can confiscate your BTC.

This network has been handling billions of dollars worth of transactions for over a decade with minimal downtime. If the BTC were ran by a company in listed in NASDAQ, it'd be heralded as THE greatest investment of all time, going from 0.002 cents or something to the price of ~$28K. But alas, optics matters.

And you know the best part about this? The bitcoin is a blip on the map as the focus of the industry is on the blockchain tech's greatest spinoff technology, smart contracts. These are service agreements force people to commit to their obligations in a manner that reduces risk for both sides.

The best part is, OP will come to love smart contracts. She's in the medical field and will be interacting with insurance providers all the time and has to have stories of insurance companies weaseling their way out of covering for patients' medical procedures. Smart contracts will be coming to that field and all fields. It's just a matter of time.

DarkRoast posted...

Emerging scam technology, sure

Ah this explains a whole lot. Wish you had made this statement earlier! I know IBM is generally known for being con artists, but here try to educate yourself a bit on what the technology actually is.

https://www.ibm.com/topics/what-is-blockchain

SergeantGander posted...

Ah this explains a whole lot. Wish you had made this statement earlier! I know IBM is generally known for being con artists, but here try to educate yourself a bit on what the technology actually is.

https://www.ibm.com/topics/what-is-blockchain

I know what a blockchain is.

You don't seem to understand that Brave is simply using the lingo to get you to blindly believe they're anything more than a scam.

You can bet your ass Brave is paid in dollars. The blockchain is what they use for the worthless shit they give you.

EndOfDiscOne posted...

Its not worth it dude. Shes not going to change her mind. Bitcoin could go up to $300k and shell still be crying tulip bubble and call us idiots for investing.

@EndOfDiscOne should have heeded your warning. Didn't realize the type of person I was trying to converse with lmao

DarkRoast posted...

https://gamefaqs.gamespot.com/a/user_image/1/9/5/AAeEwGAADOWL.jpg

This is why you shouldn't have faith in a system that has zero regulation and is operated mostly by delusional howler monkeys.

I love how they put (for me) because they know that the crypto community is full of people whos entire personality is flexing and grandstanding. You could make a chunk of change just taking bets on their social media profiles. A professional (which means his aspiring influencer photographer buddy with a Nikon) headshot as the pfp? Check. His stepdads boat or an hourly rented Lambo on Hollywood Boulevard from two years ago as the cover photo? Triple check. Double your winnings if said person was born into the upper middle class and claims to have gotten where they are all on their own.

SergeantGander posted...

@EndOfDiscOne should have heeded your warning. Didn't realize the type of person I was trying to converse with lmao

With plenty of intended offense, if you actually think Brave is legit, you need to converse with more "types of people"

God it's uncanny when the crytobros all chime in. It's like they're just one account talking to themselves.

AldousIsDead posted...

God it's uncanny when the crytobros all chime in. It's like they're just one account talking to themselves.

You can see why they're so frequently targeted for scams, though.

If you speak their lingo, they trust you 150%.

We're all gonna make it!

This topic highlights exactly what I meant the other day when I said this site needs to make shilling NFTs/Crypto against the ToU. You have multiple people in here trying to push shit as fact and making statements they're completely unqualified to make in regards to money and investing. This is actual insanity.

Jabodie posted...

Who told you that? I'm not asking that sarcastically btw.

There has been an element of "it will protect you from inflation and won't be subject to the devaluation of fiat currency in a country", akin to gold.

If it just follows the trends of the American economy, then it isn't that.

(I also actually do believe in the underlying technology, but the currencies themselves...not so much)

AmishDoinks420 posted...

I love how they put (for me) because they know that the crypto community is full of people whos entire personality is flexing and grandstanding. You could make a chunk of change just taking bets on their social media profiles. A professional (which means his aspiring influencer photographer buddy with a Nikon) headshot as the pfp? Check. His stepdads boat or an hourly rented Lambo on Hollywood Boulevard from two years ago as the cover photo? Triple check. Double your winnings if said person was born into the upper middle class and claims to have gotten where they are all on their own.

Lol these crypto dudes are such trash.

This, like QAnon and the anti-vax movement, is a good example of why it's so important not to lock yourself into a like-minded echo chamber. You lose your grip on reality when you've limited the scope of the world you see.

DarkRoast posted...

With plenty of intended offense, if you actually think Brave is legit, you need to converse with more "types of people"

I'm just messing around don't worry. After seeing how large of scams Firefox and JavaScript turned out to be I would never trust anything Eich did to be legit.

Also, not sure if you're aware of these or not, but since you're on a roll exposing "fake money" you should check out these things called "programming languages". You're going to get a real kick out of them. A bunch of fake languages made up by losers trying to get others to use them for goofyass computer nonsense. They aren't even real languages!!!

SergeantGander posted...

I'm just messing around don't worry. After seeing how large of scams Firefox and JavaScript turned out to be I would never trust anything Eich did to be legit.

Also, not sure if you're aware of these or not, but since you're on a roll exposing "fake money" you should check out these things called "programming languages". You're going to get a real kick out of them. A bunch of fake languages made up by losers trying to get others to use them for goofyass computer nonsense. They aren't even real languages!!!

...wut

Bio1590 posted...

This topic highlights exactly what I meant the other day when I said this site needs to make shilling NFTs/Crypto against the ToU. You have multiple people in here trying to push shit as fact and making statements they're completely unqualified to make in regards to money and investing. This is actual insanity.

But have you done the research yourself to prove them wrong?

Bio1590 posted...

This topic highlights exactly what I meant the other day when I said this site needs to make shilling NFTs/Crypto against the ToU. You have multiple people in here trying to push shit as fact and making statements they're completely unqualified to make in regards to money and investing. This is actual insanity.

its what happens when they spend their entire life in echo chambers. They arent able to actually having meaningful nuanced in faith discussions.

SergeantGander posted...

I'm just messing around don't worry. After seeing how large of scams Firefox and JavaScript turned out to be I would never trust anything Eich did to be legit.

Also, not sure if you're aware of these or not, but since you're on a roll exposing "fake money" you should check out these things called "programming languages". You're going to get a real kick out of them. A bunch of fake languages made up by losers trying to get others to use them for goofyass computer nonsense. They aren't even real languages!!!

someone actually said this thinking it was clever lol.

Zeeak4444 posted...

someone actually said this thinking it was clever lol.

You should see when crypto bros try to talk about medicine

SergeantGander posted...

Also, not sure if you're aware of these or not, but since you're on a roll exposing "fake money" you should check out these things called "programming languages". You're going to get a real kick out of them. A bunch of fake languages made up by losers trying to get others to use them for goofyass computer nonsense. They aren't even real languages!!!

Programming languages exist as a way to bridge the gap between humans and computers. It is totally possible to build a machine that programs in binary (I've even done it, albeit in the form of a fairly simple and slow turing complete machine), but programming that way is difficult and time consuming. Building a Language that makes it easier to give instructions to the computer is a useful thing. It makes it easier for Humans to give useful, meaningful instruction to a computer, so that the computer can perform the tasks we assign it.

Through Machine Languages, we can have computers do useful things, especially computations, faster than any human could have done on their own. The Blockchain doesn't do that. It's also, you know, real. It has real input and output, it produces real results.

Crypto on the other hand was just some dudes upset they couldn't profit off the housing crash, so they invented their own market where they get to profit and everyone else can be stuck holding the bag. The people comparing this to stocks are right. The only difference between this stock and the other stocks, is that this one is 'newer' and thus some early adopters might be able to walk away billionaires. The only problem is that unlike regular stocks which are tied to real world value, the crypto space is tied to nothing at all. I hate speculation markets of all kinds, but at least the regular stock market usually has goods and services tied to it. To keep people buying in they need to keep inventing new coins, new markets, new ways to inject life into the system or else it will stagnate and flat-line. New suckers to feed money up the chain to the early adopters. It's not any different than other stocks, because that was literally the point. It was just people being jealous that it was too late for normal people to play stocks, so they invented their own stocks with Apes and Slurp Juice.

Instead of addressing any of the problems with stocks they just went all-in, and then keep being forced to invent new tech to patch up exploits and problems that regular stocks solved a century ago. It's just a shittier version of something that already existed (like all the shitty Silicon valley products)

SergeantGander posted...

I'm just messing around don't worry. After seeing how large of scams Firefox and JavaScript turned out to be I would never trust anything Eich did to be legit.

Also, not sure if you're aware of these or not, but since you're on a roll exposing "fake money" you should check out these things called "programming languages". You're going to get a real kick out of them. A bunch of fake languages made up by losers trying to get others to use them for goofyass computer nonsense. They aren't even real languages!!!

What the hell?

"Bro you should check out that thing called oxygen! Some people say its fake and you can't even see it but trust me its real! Hahaha get it? I was being sarcastic!"

Zeeak4444 posted...

someone actually said this thinking it was clever lol.

Shadow Don posted...

What the hell?

"Bro you should check out that thing called oxygen! Some people say its fake and you can't even see it but trust me its real! Hahaha get it? I was being sarcastic!"

Haha no. Not being serious just following her logic. That's why it makes 0 sense!

I'm glad I sold my bitcoin when it hit 48k a few months ago. Now I'm just waiting for it to hopefully drop to 20k or below and I'll be buying more.

SergeantGander posted...

Haha no. Not being serious just following her logic. That's why it makes 0 sense!

We know what you were trying to do. It's just you weren't doing it very well.

Probably should have sold months ago but oh well

This is the first time I post on this topic(I came from Reddit Forum) but the human side of it all worries me

https://twitter.com/dennis_porter_/status/1524899379307376640?s=21&t=ncXkPMpPKdunQ30ZlG743Q

People gambled their life away and its horrible.

So you can't buy LUNA anymore

another day, another hot take on crypto being wrong

sigh

It's already up 20%

Could of made some nice change riding the wave up instead of having a pointless dislike over crypto

im not 13 posted...

It's already up 20%

Could of made some nice change riding the wave up instead of having a pointless dislike over crypto

lol

im not 13 posted...

It's already up 20%

Could of made some nice change riding the wave up instead of having a pointless dislike over crypto

Anyone can make money daytrading anything.

It's not proof that crypto is a wise investment. It's just proof that crypto has extremely high market volatility.

The fact that cryptocurrency encourages people to be loud and smug when they're successful, then go completely quiet / delete their account when they lose everything, results in an echo chamber that looks like everyone is winning.

im not 13 posted...

It's already up 20%

Could of made some nice change riding the wave up instead of having a pointless dislike over crypto

Lot of people out there right now who are on the edge of suicide who had your mentality about crypto.

It's wild to me how whenever a crypto crashes it can always be spun as an opportunity to make even more money. Except that there were people that lost money when it crashed. Free money isn't a thing that exists.

Shadow Don posted...

Lot of people out there right now who are on the edge of suicide who had your mentality about crypto.

It's wild to me how whenever a crypto crashes it can always be spun as an opportunity to make even more money. Except that there were people that lost money when it crashed. Free money isn't a thing that exists.

I don't say this lightly, but the mindset of these kinds of people is eerily similar to a cult. And part of cult behavior is to ostracize or ignore the cult members who become victims. They weren't smart enough, they didn't hold on to the money long enough, they didn't believe in the system, etc. They are all weak.

They treat the "inevitability of profits through crypto" as an almost Messianic / predestined outcome. The people who failed obviously didn't believe strong enough.

A perfect microcosm of this is the GME investor group, where it has literally gotten to the point that Citadel is blamed for COVID, world wars, Terra Luna's collapse, etc.

Shadow Don posted...

Lot of people out there right now who are on the edge of suicide who had your mentality about crypto.

It's wild to me how whenever a crypto crashes it can always be spun as an opportunity to make even more money. Except that there were people that lost money when it crashed. Free money isn't a thing that exists.

There were people jumping out of windows in the 1930 while others were making plays to get rich on the rebound. This happens with fluctuations in all major financial asset markets.

whitelytning posted...

There were people jumping out of windows in the 1930 while others were making plays to get rich on the rebound. This happens with fluctuations in all major financial asset markets.

Except this isn't a financial asset market. It's a highly complicated casino posing as one.

Crypto has no value, and has no regulatory oversight. And Terra USD / Luna is a perfect example of why that matters.

In any case, the blockchain is the replacement for the cult leader. The blockchain can solve any world problem, is the greatest invention in mankind, will cure cancer, blah blah blah.

Anything that otherwise seems completely idiotic (NFTs) suddenly becomes 100% legit if it involves the blockchain. All rationality is dropped when the blockchain is brought in.

Im sure it will bounce back

whitelytning posted...

There were people jumping out of windows in the 1930 while others were making plays to get rich on the rebound. This happens with fluctuations in all major financial asset markets.

WUT.

This is exactly what I'm talking about. These dudes think the great depression was a financial opportunity. Fucking insane.

Shadow Don posted...

WUT.

This is exactly what I'm talking about. These dudes think the great depression was a financial opportunity. Fucking insane.

Like I said, the people responsible for this should be in fucking prison.

DarkRoast posted...

Anyone can make money daytrading anything.

It's not proof that crypto is a wise investment. It's just proof that crypto has extremely high market volatility.

The fact that cryptocurrency encourages people to be loud and smug when they're successful, then go completely quiet / delete their account when they lose everything, results in an echo chamber that looks like everyone is winning.

Yea that pretty much sums up crypto traders. I have a buddy at work that convinced a few dozen people to buy bitcoin. Now I don't hate crypto but the few people heavily invested in it all sound like how you describe them.

apocalyptic_4 posted...

Yea that pretty much sums up crypto traders. I have a buddy at work that convinced a few dozen people to buy bitcoin. Now I don't hate crypto but the few people heavily invested in it all sound like how you describe them.

It's really a shame because the average investor has no idea that these are the people who are keeping cryptocurrency afloat. A bunch of financially illiterate blowhards who speak with such certainty that it's hard not to believe them. The reality, though, is extremely sad. Reddit's Wallstreetbets has countless stories of these exact kinds of people coming up with "foolproof" plans and then having them blow up spectacularly in their faces, often over-leveraged by ludicrous amounts.

Those people go silent and leave immediately. The few that get lucky are loud as shit about it, and everyone else convinces themselves it's their turn to shine.

I don't think I've seen any pro-crypto people on this board who are louder than DarkRoast

DarkRoast posted...

tl;dr: Survivorship bias

Shadow Don posted...

tl;dr: Survivorship bias

For those that need an example:

https://gamefaqs.gamespot.com/a/user_image/1/7/3/AAeEwGAADOld.jpg

The reason you only see successes in the Crypto world is because the failures got blown away and the successes stick around. But the failures are the ones you really should focus on.

https://gamefaqs.gamespot.com/a/user_image/1/7/5/AAeEwGAADOlf.jpg

Shadow Don posted...

WUT.

This is exactly what I'm talking about. These dudes think the great depression was a financial opportunity. Fucking insane.

If you cant see that buying an appreciating asset at a discount is an opportunity you arent using your brain.

whitelytning posted...

If you cant see that buying an appreciating asset at a discount is an opportunity you arent using your brain.

It's not an asset.
It's literally nothing.

Which is precisely why they were trying to create stablecoins. And failed spectacularly.

DarkRoast posted...

It's not an asset.
It's literally nothing.

Which is precisely why they were trying to create stablecoins. And failed spectacularly.

You arent keeping up with the conversation. Keep melting though.