Crypto Currency Thread (Vol.2)

[Slow]

I hope your all happy. This thread is absolutely garbage now.

[Ouroboros]

Slow said:

I hope your all happy. This thread is absolutely garbage now.

Just like the coins boom boom

[Condi]

Slow said:

I hope your all happy. This thread is absolutely garbage now.

It is, I agree. Time for me to leave it be and it can go back to be a shilling thread.

[Mr Whippy]

Ouroboros said:

Slow said:

I hope your all happy. This thread is absolutely garbage now.

Just like the coins boom boom

Just wait until (if) the next bull market, and people start wanting more yieldz!!!11!!!

BTC to the moon, again... along with DaveCoin... which I'll launch shortly. Just 0.00001p each, because the cheaper the better yeah? Only 100 trillion to be mined.
You mine them by sending me £1 via paypal friends and family. It's not a scam. My uncle's nephew's nieces' roomate at uni was Bill Gates and he's onboard.

[snoopy25]

Mr Whippy said:

Ouroboros said:

Slow said:

I hope your all happy. This thread is absolutely garbage now.

Just like the coins boom boom

Just wait until (if) the next bull market, and people start wanting more yieldz!!!11!!!

BTC to the moon, again... along with DaveCoin... which I'll launch shortly. Just 0.00001p each, because the cheaper the better yeah? Only 100 trillion to be mined.
You mine them by sending me £1 via paypal friends and family. It's not a scam. My uncle's nephew's nieces' roomate at uni was Bill Gates and he's onboard.

Davecoin eh? tell me more......

[TriumphStag3.0V8]

So, what do people think of Pi coin (had a look back several pages but couldn't see it mentioned). Have some friends doing it and trying to get me to join their security circle.

One of them never shuts up about it!

[r3g]

TriumphStag3.0V8 said:

So, what do people think of Pi coin (had a look back several pages but couldn't see it mentioned). Have some friends doing it and trying to get me to join their security circle.

One of them never shuts up about it!

Just another short-lived useless sh.tcoin to join the tens of thousands of others that have come and gone. One of your mates got a "hot tip" from a dev or early whale of the project, telling everyone that it is going to be the next bitcoin and "look at how much the price has gone up already... you need to get in now while it's still cheap and early !!". That mate has fallen hook,line and sinker for the patter, put a load of cash in, then went and told all his mates who are also gullible suckers and did same, and now they're telling you. What will happen is if (when?) you follow suit in your greed to also become a quick millionaire, the dev(s) and early whales will wait for a few more people like you to pump the price, then they will all sell and become millionaires, the token price instantly loses 99% of its value and you're left holding an empty bag.

[jammy-git]

TriumphStag3.0V8 said:

So, what do people think of Pi coin (had a look back several pages but couldn't see it mentioned). Have some friends doing it and trying to get me to join their security circle.

One of them never shuts up about it!

This reads almost exactly like a post from a few weeks ago.

[r3g]

jammy-git said:

This reads almost exactly like a post from a few weeks ago.

I did think that, but saw the username was different so gave it the benefit of the doubt and so replied with a somewhat constructive response. The guy could be a newbie.

[digger_R]

TriumphStag3.0V8 said:

So, what do people think of Pi coin (had a look back several pages but couldn't see it mentioned). Have some friends doing it and trying to get me to join their security circle.

One of them never shuts up about it!

As i understand it basically runs an app on your phone which mines tokens - which as far as I know have always had zero monetary value (you can't sell them on any exchange as far as I know).

A few friends who haven't bought any crypto had spoken to me about it last year. One of them was a guy similar to the regular doomer crowd here, constantly talking about how all crypto is worthless etc then with this thing came up he jumped all over it.

My assumption is that it appeals to a particular breed of crypto/techno illiterate - who are too tight/risk averse to actually pay for it.
I'd guess it appeals to them simply as they can have some crypto and it's 'free' (it costs you computing power from your phone). I've no idea what the app actually does on your phone but personally I don't trust it.

[r3g]

digger_R said:

As i understand it basically runs an app on your phone which mines tokens - which as far as I know have always had zero monetary value (you can't sell them on any exchange as far as I know).

A few friends who haven't bought any crypto had spoken to me about it last year. One of them was a guy similar to the regular doomer crowd here, constantly talking about how all crypto is worthless etc then with this thing came up he jumped all over it.

My assumption is that it appeals to a particular breed of crypto/techno illiterate - who are too tight/risk averse to actually pay for it.
I'd guess it appeals to them simply as they can have some crypto and it's 'free' (it costs you computing power from your phone). I've no idea what the app actually does on your phone but personally I don't trust it.

One of the degen crypto channels did a review and test of these phone miners not long ago. Unsuprisingly they all turned out to be a load of crap and the reality was that you might 'earn' up to a pound a day, in exchange for all your personal details, so you don't need to be cynic to figure out that the 'mining' part is completely redundant.

[TriumphStag3.0V8]

r3g said:

jammy-git said:

This reads almost exactly like a post from a few weeks ago.

I did think that, but saw the username was different so gave it the benefit of the doubt and so replied with a somewhat constructive response. The guy could be a newbie.

Newbie to this thread. You will see I have been on PH for a while.

As for deciding I'm greedy, we'll thanks for that. I heard about this thing and as there is a crypto thread running I thought I might ask. I seem to have upset you by doing so though.

Thanks for the poster who did actually reply constructively though, shame you just went off on a rant.

Edited by TriumphStag3.0V8 on Friday 3rd June 23:34

[r3g]

TriumphStag3.0V8 said:

Newbie to this thread. You will see I have been on PH for a while.

As for deciding I'm greedy, we'll thanks for that. I heard about this thing and as there is a crypto thread running I thought I might ask. I seem to have upset you by doing so though.

Thanks for the people who did post constructively though, shame you just went off on a rant.

Greed or no greed, the only reason you've shown an interest in it is because you want to know if it's going to make you momey. (Please don't tell me you're only interested in it because you believe in its utility like some here do .). My response to you was basically explaining where you find yourself at and what is likely to happen should you decide to ape in with all your money. Personally if the tables were turned I'd be thanking you for the heads-up and warning to save myself losing a load of money, but if you want to believe your mate instead, don't let me stand in the way.

Maybe ask Condo or Ari for their advice and opinion on it if you don't like mine.

Edited by r3g on Friday 3rd June 23:47

[ILikeCake]

There have been an interesting series of articles at interactive investor. Eg.

https://www.institutionalinvestor.com/article/b1x9...

I follow all this out of morbid fascination... Seems to be a mass case of 'emperor's new clothes'. The biggest farce is calling this software a currency, when it's virtually impossible to use it for anything useful (unless you're a criminal).

[dimots]

ILikeCake said:

There have been an interesting series of articles at interactive investor. Eg.

https://www.institutionalinvestor.com/article/b1x9...

I follow all this out of morbid fascination... Seems to be a mass case of 'emperor's new clothes'. The biggest farce is calling this software a currency, when it's virtually impossible to use it for anything useful (unless you're a criminal).

You reach some very peculiar conclusions considering the evidence you are presenting. It is almost as though you carry prior prejudice for which you are seeking supporting material. Maybe you ought to consider the intrusion of confirmation bias in your calculative practices?

[ERIKM400]

Slow said:

I hope your all happy. This thread is absolutely garbage now.

Couldn't agree more.

Thanks to some of the advice on this thread I got into crypto a couple of years ago.
Bought some BTC at 7k €
Bought quite a lot of LINK for under 2€
Bought A LOT of ADA for under 0,1€
All of which I am still holding today with +/- 500% gains (and they say this is the bear market )

Guess who I think the losers are...

[Seventyseven7]

ILikeCake said:

There have been an interesting series of articles at interactive investor. Eg.

https://www.institutionalinvestor.com/article/b1x9...

I follow all this out of morbid fascination... Seems to be a mass case of 'emperor's new clothes'. The biggest farce is calling this software a currency, when it's virtually impossible to use it for anything useful (unless you're a criminal).

https://news.bitcoin.com/dubais-retail-giant-majid-al-futtaim-accepts-crypto-at-29-shopping-malls-and-13-hotels-in-partnership-with-binance/

Already covered in the thread about a year ago, but I've used bitcoin to book hotels, flights, buy furniture etc for my house. It will come eventually.

[WY86]

ERIKM400 said:

Couldn't agree more.

Thanks to some of the advice on this thread I got into crypto a couple of years ago.
Bought some BTC at 7k €
Bought quite a lot of LINK for under 2€
Bought A LOT of ADA for under 0,1€
All of which I am still holding today with +/- 500% gains (and they say this is the bear market )

Guess who I think the losers are...

Careful lets not bring the boomers back

[Chamon_Lee]

Ari said:

Iamnotkloot said:

Some investments are riskier than others. Investing in property is one of the safest you can do.
But it’s still not 100% safe.
Have you heard of defaulting on your mortgage?

Anyway, XRP could go to zero, or it could return something like 8000%, which is incidentally what it’s done for me so far.

Either way, I’m aware I’ve invested in the riskier end of things. So the fact I *might* lose all of it is hardly news.

Yes, absolutely correct. But you understand the basic message, yes? Most things have an underlying value, a house, a company, whatever. There is none with crypto, the only value is based on the hope it will be worth more tomorrow. At the point where that stops happening (as it has for every other similar scheme in the past from tulip bulbs onwards), that perceived value is gone.

You say you've made 8,000%, very well done if that's true. Presumably you've cashed out in order to have made that money (until you do that, you've made nothing yet), but it's important to understand that, for every £1 you put in and £8,000 you took out, someone else investing in crypto is £7,999 worse off (and that's ignoring the fees of running the thing).

So there will be winners (you) but there has to be losers, and there has to be more losers than winners. That's the only place your money when you cashed out can have come from.

And if you haven't cashed out, then the people who 'won' before you got their money from you and everyone else still in the scheme...

[Ari]

Sterillium said:

I genuinely don't understand why this is just a thread of squabbling where people seem entirely unable to cope with the fact that, in general, people like different things and hold different opinions etc. Isn't it a bit odd that the crypto thread is basically filled with a few people who want to force everyone to hate crypto as much as they do?

If you don't like it or understand it, just don't invest in it. Surely?

I'm no expert whatsoever, but I got lucky and a three-figure investment I made with crypto a couple of years back turned into a five-figure reward. It's now parked on my drive, so definitely real.

Don't hate it, would love for there to be a real get rich quick scheme it which everyone got rich (although you'd need to ignore the fact that if everyone were ich, no one would be)!

Facts and opinions are different things.