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Forums - General Discussion - Cryptocurrency is crashing, are you in or out?

Mmmh I see that Dogecoin has reached 1B in market cap. Much value. wow.



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deskpro2k3 said:

No, it's not crashing. Just keep mining and hold on to it. It's the best way to fight back at those on wall street.

wall street don't give a crap and this in no way fights back against them. They are happy to invest in whatever will make them money and many of them do trade in it as the wild fluctuations in bitcoin price are easily manipulated by large entities to make money. basically bitcoin is much easier to screw people over then the highly regulated wallstreet.



nanarchy said:
deskpro2k3 said:

No, it's not crashing. Just keep mining and hold on to it. It's the best way to fight back at those on wall street.

wall street don't give a crap and this in no way fights back against them. They are happy to invest in whatever will make them money and many of them do trade in it as the wild fluctuations in bitcoin price are easily manipulated by large entities to make money. basically bitcoin is much easier to screw people over then the highly regulated wallstreet.

considering they're begging for regulations on bitcoin, I'd say they give a crap. How ironic is that, wall street begging for regulations on something.

Last edited by deskpro2k3 - on 18 January 2018

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deskpro2k3 said:
nanarchy said:

wall street don't give a crap and this in no way fights back against them. They are happy to invest in whatever will make them money and many of them do trade in it as the wild fluctuations in bitcoin price are easily manipulated by large entities to make money. basically bitcoin is much easier to screw people over then the highly regulated wallstreet.

considering they're begging for regulations on bitcoin, I'd say they give a crap. How ironic is that, wall street begging for regulations on something.

that isn't wall street begging for regulations. It is some of the banks and government agencies that deal with money laundering etc. Wall street like it just the way it is.

PS: the people that should be screaming for regulation are those in the crypto coin community, those in wall street will milk them and control the movement in the market for as long as they can as they can ride the waves of the instability to huge profits.

Last edited by nanarchy - on 18 January 2018

GProgrammer said:

Bitcoin, its now the time to buy

 

Not

What is a sample size?



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The future of crypto is hard to predict, but nearly all of the detractors have no idea what they are talking about; it's the same old, stupid retread arguments:

Store of value...
Laundering...
New fad...
Too costly to produce...
Too volatile...

All of these have been analyzed and debunked, and I encourage you all to do research to find out why. Does that mean any crypto or BTC will have mainstream adoption? No. Does it mean that such an outcome is extremely likely? Yes.



Insidb said:
The future of crypto is hard to predict, but nearly all of the detractors have no idea what they are talking about; it's the same old, stupid retread arguments:

Store of value...
Laundering...
New fad...
Too costly to produce...
Too volatile...

All of these have been analyzed and debunked, and I encourage you all to do research to find out why. Does that mean any crypto or BTC will have mainstream adoption? No. Does it mean that such an outcome is extremely likely? Yes.

first line is good and pretty accurate, but then you had to get silly. laundering is a huge ongoing problem, though will likely be fixed with regulators crack down on exchanges. too costly to produce, nothing to debunk, things like bitcoin are massive wasteful in their production with proof of work based systems. same for too volatile, currently their isn't a sufficiently stable crypto coin that can be safely used as a currency, hence many companies recently rolling back their decision to accept bitcoin. none of that means crypto coins can't succeed but they do have some very significant problems that still need to be addressed and anyone that tries to pretend the issues don't exist is a fool.



nanarchy said:
Insidb said:
The future of crypto is hard to predict, but nearly all of the detractors have no idea what they are talking about; it's the same old, stupid retread arguments:

Store of value...
Laundering...
New fad...
Too costly to produce...
Too volatile...

All of these have been analyzed and debunked, and I encourage you all to do research to find out why. Does that mean any crypto or BTC will have mainstream adoption? No. Does it mean that such an outcome is extremely likely? Yes.

first line is good and pretty accurate, but then you had to get silly. laundering is a huge ongoing problem, though will likely be fixed with regulators crack down on exchanges. too costly to produce, nothing to debunk, things like bitcoin are massive wasteful in their production with proof of work based systems. same for too volatile, currently their isn't a sufficiently stable crypto coin that can be safely used as a currency, hence many companies recently rolling back their decision to accept bitcoin. none of that means crypto coins can't succeed but they do have some very significant problems that still need to be addressed and anyone that tries to pretend the issues don't exist is a fool.

Since you actually engaged and didn't rabble-rabble, here are some high-level clarifications:

 

Store of value...the most popular currency has no backing, other than "trust."

Laundering...BTC is NOT anonymous, and the ledger can be audited; that's what took down Silk Road.

New fad...BTC has been around for 9+ years

Too costly to produce...nearly all those estimates use peak potential and come out absurdly high, especially when compared to the mining and printing of other currencies.

Too volatile...it's far more stable than the most volatile fiat currencies, some of which are essentially dead now.



Insidb said:
nanarchy said:

first line is good and pretty accurate, but then you had to get silly. laundering is a huge ongoing problem, though will likely be fixed with regulators crack down on exchanges. too costly to produce, nothing to debunk, things like bitcoin are massive wasteful in their production with proof of work based systems. same for too volatile, currently their isn't a sufficiently stable crypto coin that can be safely used as a currency, hence many companies recently rolling back their decision to accept bitcoin. none of that means crypto coins can't succeed but they do have some very significant problems that still need to be addressed and anyone that tries to pretend the issues don't exist is a fool.

Since you actually engaged and didn't rabble-rabble, here are some high-level clarifications:

 

Store of value...the most popular currency has no backing, other than "trust."

Laundering...BTC is NOT anonymous, and the ledger can be audited; that's what took down Silk Road.

New fad...BTC has been around for 9+ years

Too costly to produce...nearly all those estimates use peak potential and come out absurdly high, especially when compared to the mining and printing of other currencies.

Too volatile...it's far more stable than the most volatile fiat currencies, some of which are essentially dead now.

being slightly more stable than fiat currencies that have collapsed is hardly a selling point, that is like saying my shit stinks slightly less than my neighbours a currency needs stability to get acceptance and adoption. Laundering is still a huge issue, yes it is only semi anonymous but when combined with tumbler services and poorly regulated exchanges you can overcome the not anonymous part to launder money. new fad, have not really seen that argument, but yes agree there. Proof of work is simply a bad model, especially when some of them use far more sustainable models.



nanarchy said:
Insidb said:

Since you actually engaged and didn't rabble-rabble, here are some high-level clarifications:

 

Store of value...the most popular currency has no backing, other than "trust."

Laundering...BTC is NOT anonymous, and the ledger can be audited; that's what took down Silk Road.

New fad...BTC has been around for 9+ years

Too costly to produce...nearly all those estimates use peak potential and come out absurdly high, especially when compared to the mining and printing of other currencies.

Too volatile...it's far more stable than the most volatile fiat currencies, some of which are essentially dead now.

being slightly more stable than fiat currencies that have collapsed is hardly a selling point, that is like saying my shit stinks slightly less than my neighbours a currency needs stability to get acceptance and adoption. Laundering is still a huge issue, yes it is only semi anonymous but when combined with tumbler services and poorly regulated exchanges you can overcome the not anonymous part to launder money. new fad, have not really seen that argument, but yes agree there. Proof of work is simply a bad model, especially when some of them use far more sustainable models.

Ethereum is working on proof of stake, many believe that is going to change crypto for the better.