Crypto discussion

Shadow Reaper

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The reason everyone is so enticed by fake coinage is, they ask themselves "what is a way to make money?" instead of "what is an honest way to make money?"

The only way to make money with fake coinage is to leave someone else holding the bag. The only honest way to make money is to produce a product or service. That means you need to WORK.
 

Michael

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Nobody asked for it but here it is the Fuck Elon Musk coin

 

ThunderKraken

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Meme culture is peaking. We put value on the Kardashians, elected a meme president, gamestop a failing business is I dunno.... lol
People love memes and crypto seems like the next step. Everything that's going on has no logic and you can't base it on trends of the past
 
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NaffNaffBobFace

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Nobody asked for it but here it is the Fuck Elon Musk coin

That's gonna get real meta real fast...
 
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Michael

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Sirus7264

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Yeah that's why many of the more level headed Crypto proponents have had a negative view of Doge and 'celebrity' investors like Elon for awhile now. Stunts like what he has pulled isn't good for Crypto.
nope and the market is seeing the effects atm. I do agree though that countries need to find a better source of energy but that isnt crypto's fault and to blame crypto for this was a very bad move. if anything crypto is driving a push for better energy sources such as nuclear or future prospects of fusion.
 

Aramsolari

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nope and the market is seeing the effects atm. I do agree though that countries need to find a better source of energy but that isnt crypto's fault and to blame crypto for this was a very bad move. if anything crypto is driving a push for better energy sources such as nuclear or future prospects of fusion.
Which is why the future of Crypto will move from Prove of Work to Prove of Stake. Ethereum 2.0, Cardano, Stellar Lumens, Nano, etc. will do well.

Bitcoin will still have a place but eventually it will be 'mined' out.
 
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Aramsolari

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The reason everyone is so enticed by fake coinage is, they ask themselves "what is a way to make money?" instead of "what is an honest way to make money?"

The only way to make money with fake coinage is to leave someone else holding the bag. The only honest way to make money is to produce a product or service. That means you need to WORK.
I work over 60 hours a week (I did 70 last week) so please don't assume people who are enticed by 'fake coinage' sit around avoiding honest work.

I invest/believe in Crypto because I don't believe that national governments will protect our respective currencies from inflation. I believe in the technology of blockchain and the concept of decentralized finance. I also believe that people who come from developing countries deserve to hold on to something that isn't worthless because their incompetent/corrupt governments ran their economy into the ground (read: Venezuela, Zimbabwe). A big part of that is why I'm a strong supporter of affordable, accessible Cryptos like Stellar Lumens not because I want to make money but because it's the right thing to do.

I'm a millennial, have been priced out of the real estate market in the city that I've grown up in, and have seen costs of living shot up exponentially within a decade. Meanwhile my wages have not kept up with the increase in cost of living. The same can be said for my peers and well....everyone else. Nationally, wages have not kept up since the 70s.

'Working hard' is simply not enough anymore. I make slightly less than a $100k a year and even at that level of income, I'll be hard pressed to have a comfortable retirement 25-30 years down the road.

Investing is what I do to protect myself for the future. I'm diversified. Whether it's the stock market, RRSPs (401ks), and yes Crypto...I'm making my money work for me because WORKING HARD isn't enough anymore. The cards are stacked against my generation and we're doing what we can to balance things out.

I suppose you can also work hard, hoard all your money, and 'trust' your bank to grow your money in a high interest account (lol) or in bank investment funds (double lol). Yeah no thanks...I'll rather buy more Ethereum or hell..dollar cost average buy SPY ETFs or something. Hell...the GME shares I bought last year made me more money than a decade of interest earned in a bank account.
 

Shadow Reaper

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To be clear, I am not opposed to investing. When people provide investment monies, they are moving currency and that provides a service.

I am opposd to people who buy into pyramid schemes knowing that eventually, someone is going to be left holding the bag of worthless coinage. Only con men invent their own currency. if you're buying it, you're being conned.
 
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Aramsolari

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To be clear, I am not opposed to investing. When people provide investment monies, they are moving currency and that provides a service.

I am opposd to people who buy into pyramid schemes knowing that eventually, someone is going to be left holding the bag of worthless coinage. Only con men invent their own currency. if you're buying it, you're being conned.
The stock market is by it's nature a big pyramid scheme. 'Insiders' IPO a company, drive up the price, then cash out at the top. Legitimate companies can be driven to bankruptcy by naked shorting and market manipulation. Even 'Blue Chip' stocks are based off the promise that some one else will take it off your hands in the future. Other than the odd dividend, it's value is based on what others are willing to pay for it. There are of thousands of companies that list on a stock market every year. Many of them are duds, ponzi schemes, and worthless penny stocks. Some of them, however, are diamonds in the rough. Just like one should do their due diligence and research their stocks, one should also do the same for Cryptocurrency.

There are plenty of 'Shitcoins' out there (Initial Coin Offerings are open to abuse) but there are also legitimate projects.

That's why I'm really annoyed with someone like Elon Musk. Instead of promoting a Crypto project that has real world uses (read up the real world applications of a blockchain like Ethereum) he trumps up a Crypto that has no real world application AND has an infinite supply.

I can forgive people for thinking that Crypto is all a big scam when the most talked about one right now is DOGE. Until that nonsense stops, there will always be a veneer of illegitimacy of the whole business.

On a parting note, you need to realize that Crypto doesn't replace Fiat national currencies. Eventually you still need to convert back to your national currency of choice to do anything. Your precious dollar isn't getting replaced and people need to realize that. Think of Crypto as yet another form of Securities (But shh...not really, don't tell the SEC!).
 
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Spicy Spleen

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Any recommendations for up and coming crypto that has potential? (ie. not meme coins). I'm looking at Chainlink and Polkadot myself.
Check out this coin, Theta Token the white paper reads more like an internet technology over just another crypto.

[Theta Crypto Explained] Theta Coin, Theta Token, Theta Coin Explained (Software Engineer Reviews)
View: https://www.youtube.com/watch?v=1ByurH6sMKQ
 

Shadow Reaper

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I can forgive people for thinking that Crypto is all a big scam when the most talked about one right now is DOGE. Until that nonsense stops, there will always be a veneer of illegitimacy of the whole business.
I don't think crypto is a scam because of what Musk is doing. I think it's a scam because it is run by someone other than a sovereign, who has no right to value the goods and services of people. No one has ever started their own currency brand for any reason other than to make money, except for sovereigns who do it because they have to. Otherwise they are not nations.

Like I said, this all goes back to Pfiester Barter in the 80's. They went belly up and I hope all the rest do too, especially given they're burning obscene amounts of electrical power with nothing to show for it. All that has to happen is Congress pass a bill banning all crypto and the shell game is over. As I recall, that's how Pfiester Barter ended too. Unless USG finds a way to tax it, it is a very temporary thing.

View: https://www.youtube.com/watch?v=gGqy97fd6a8


Please don't get left holding the bag. Crypto is a terrible place to put your money. Quantum computers are perfctly capable of hacking it, and hackers have walked off with huge amounts already. There is nothing smart about buying funny money.
 

BUTUZ

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People said the same about credit cards in the 70s too. What a joke, not proper currency, blah blah blah.

99% of the general public can't see a good thing as their too brainwashed by politicians and the media.
 
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Montoya

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I see people claiming that this is now the bear market, it has arrived!

I would not be so quick to make that claim.

If this was a bear market, the low quality shit would be nose diving. DOGE is still holding up pretty well.

When you see DOGE drop 70% in a day, thats when you know the bear is here.
 

Aramsolari

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I see people claiming that this is now the bear market, it has arrived!

I would not be so quick to make that claim.

If this was a bear market, the low quality shit would be nose diving. DOGE is still holding up pretty well.

When you see DOGE drop 70% in a day, thats when you know the bear is here.
brb.

making a BEAR crypto.

Edit: shit….there’s already a BEAR Coin. Something something NGO for wildlife.
 
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