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Thread: Crypto, Blockchain, Bitcoin, ETH, etc.

  1. #121
    Relaxing and enjoying life MR2 Fan's Avatar
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    I think the crypto hype ship has sailed for the general public, it's IMO much more difficult to lure unsuspecting people when there's so many stories of this happening and "super awesome" things like NFT's are found to be really bad overall.

    (and yes I started this thread and did see some potential for crypto/blockchain and there still might be some, but the problem is that it was filled with bad actors and easy ways to grift from)

  2. #122
    Senior Member sandydandy's Avatar
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    I stayed away from it because I simply didnít understand it. It was based on nothing, and continues to be based on nothing. I donít feel compelled to even trade it - whether itís the futures or CFD. Iím good far away from it.

    That being said, kudos to anyone who made money dabbling with it. You did make real moneyÖas long as you cashed out.

  3. #123
    Member Member 21Kid's Avatar
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    Quote Originally Posted by Rare White Ape View Post
    Only buy a little bit at a time.
    :clap:

  4. #124
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    Quote Originally Posted by MR2 Fan View Post
    I think the crypto hype ship has sailed for the general public, it's IMO much more difficult to lure unsuspecting people when there's so many stories of this happening and "super awesome" things like NFT's are found to be really bad overall.

    (and yes I started this thread and did see some potential for crypto/blockchain and there still might be some, but the problem is that it was filled with bad actors and easy ways to grift from)
    This is reminding me of the .com bubble! Anything and everything.com was selling at lofty stock prices... NASDAQ was going crazy until it becomes unsustainable. Bursting of the bubble will simply wash away all the bad actors. Only those who believe and know what they're doing end up surviving and thriving.

    Digital currency will likely happen one way or another. However, people probably shouldn't count on buying 'currencies' as investment vehicles. Diversification perhaps, like not putting all your eggs in one basket. Currencies are meant to 'flow' and not 'store'. Main reason I didn't buy into crypto is because I'm not really sure how and where I can spend it.

  5. #125
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    Quote Originally Posted by Rare White Ape View Post
    Only buy a little bit at a time.
    This actually makes sense in this context.

  6. #126
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    Not really sure who Mark Moss is before until recently. I also haven't heard a 2 hour podcast so engagingly... listened to this while I was taking care of dad in the hospital... he kinda explained why bitcoin... if not bitcoin, then some other kind of crypto should take over. He explained this from a historical perspective. Never mind all the conspiracy theories such as who's behind this or that, but just assume history really does repeat itself cyclically and organically. This cycle tend to be swinging between centralization and individualism and it's roughly 80 years apart.

    2020 is peak centralization, think US central bank, EU, Putin and Xi centralizing power in their own respective nations... and this is also the time people begin to fight against centralization. That's why we have Brexit and lots of protests around the world for whatever reasons.

    1980 was the peak of individualism. Remember Michael Jackson? Also Reagan telling Gorby to tear down that wall!!!

    1940 was again peak of centralization. FDR's New Deal, but there was also once again nationalistic uprising which resulted in WW2...

    1900 was again peak individualism. That time we were into the gold standard and we learned to fly and we had Model T...

    1860 peak centralization. US civil war preserved its 'union' and we had Carl Marx...

    1820 peak individualism. We had the Monroe Doctrine basically saying European colonialism can fuck off...

    1780 peak centralization. American & French revolution were results of fighting against centralization.

    Thatís a 240 year cycle. If we go back another 240 years, we'd get to the Protestant Reformation. Again, that's a fight against centralization.

    And wherever the pendulum swing, technology will come up with the appropriate tool to solve our problem. Protestant reformation was only made possible by the printing press. Bible is not only available to the Catholic church. Everyone can read it now.

    Coming back to recent history, invention of internet and cryptocurrencies are the answers to fight against central bank and its fiat currency.

    So anyway, just like there's no way for us to predict which search engine or which social media or which online retailer will prevail in the end, but whoever makes it, it will probably make it big. That Mark Moss guy is basically saying Bitcoin will probably be the tool that swings back the pendulum toward the individualism side in the next 40 years... internet, cryptocurrency, and perhaps Twitter might be the tools? (If it doesnít die) PayPalís original vision was not just another payment service. Anyway, if Elon or Bitcoin fails, surely another will rise to take his place. Somebody will create the tools we need to break the central bankÖ or perhaps centralization will finally win over the Matrix this time and ends the oscillating cycle?

    We'll see if history will once again continue repeat itself... or not.
    Last edited by Crazed_Insanity; November 25th, 2022 at 12:26 AM.

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