Loaded-Gun.Com - Anti-Social.Com's Rejects!
General Category => Politics, Philosophy, News and/or Current Affairs => Topic started by: Tru on May 19, 2021, 02:47:37 PM
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Oh Nooooo, I'll be wiped out!
https://techcrunch.com/2021/04/23/crypto-market-takes-a-dive-with-bitcoin-leading-the-way/
https://techcrunch.com/2021/05/19/bitcoin-crashes-as-investors-fear-crypto-bull-market-could-be-nearing-its-end/
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Yeah, it did that a month ago too ....
It doubled+ on its return within a couple of days ...
Again, I'm playing with "house money", so, I'll lose nothing at this point ...
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The guy who created Etherium openly admits it's a bubble. You just never know how long a bubble is going to last.
I've always been down on crypto. I think a lot of the discussion around it is fantasy. I do wish had bought some, though, because there's plenty of money to be made on an expanding bubble.
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I've make about $10k so far ...
As I said, any money left is "house money". so, about $3500 that I shift from coin to coin as they appear to go up or down ...
It's a $1k profit from the $2500 I had left behind ....
I'll gladly ride this bubble out on their "coin" ...
If I can make a few more bucks off of it, so be it ...
At this point, I can't lose anything ....
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Yeah, I really wish that I had been able to get past my "the arguments for crypto are mostly stupid tech-bro libertarian fantasies" to the "I can make a lot of money off of stupid tech-bro libertarian fantasies". $500-$1000 in bitcoin back in 2010 would've made me a ton of money along the way.
I have friends that were in on bitcoin from the beginning and were trying to mine it way back when you didn't need some of the elaborate setups they have today.
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My son tried that for a while, then he got pissed off because crypto miners were driving up the price of high end video cards, now some of the cutting edge video cards don't even have video out! Because they are specifically manufactured for crypto mining. He used to tell me about making a few cents each day and I would tell him about the 35 cents I mined that day in the market parking lot. Must have been a bit discouraging.
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Hey Emp, did this really happen?
The guy and I were having a conversation about Baltimore and he was trying to sell me his cd, then tricky ran up and punched him in the mouth and yelled "nigger!".
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Hahahaha ....
But, yeah ....
Mining is NOT the way to go nowadays ....
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This gives you some "metrics" and insight into the crypto world ...
https://coinmetrics.substack.com/p/coin-metrics-state-of-the-network-5d4
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I was just looking at that page and suddenly I had a strong impression of a very complicated pyramid scheme. But I'll go back and read more of it before I form an opinion.
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Hey Emp, did this really happen?
The guy and I were having a conversation about Baltimore and he was trying to sell me his cd, then tricky ran up and punched him in the mouth and yelled "nigger!".
Ha ha. The first part happened. Me, tricky, and punkallstar were hanging out in NYC. Some dude came up to me on the street and was trying to sell me his CD. I just ended up chatting with him about Baltimore for a minute. I probably would've bought his CD; at that time in my life, I bought a fair number of random rap CDs from people on the street. Dudes would just sell their CDs at stop lights or out of the back of their car. For the most part they would be duds, but everyone now and then someone would be really good.
The second part didn't happen. Tricky didn't punch him or drop the n-bomb. She did interrupt his sales attempt and get me back on track with wherever it was we were going, though.
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Nice ....
I was just looking at that page and suddenly I had a strong impression of a very complicated pyramid scheme. But I'll go back and read more of it before I form an opinion.
The funny part about it is how much one man can "control" the whole market at any one time with a simple statement here and there ...
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There are a few things to remember about currency in general. Early human economies (and those found in existent tribal societies) operated on different principles - gift economies, mutualism, informal debt & credit-based exchanges, etc. Economists tell a bunch of bullshit stories about barter and that leading to money to try to justify economies in civilized society, but there's zero actual evidence for that.
Many of us operate that way in our every day lives still (at least until recently, where people use paypal, venmo etc. to settle things immediately): someone buys a round of beers and you'll get them next time, you loan a neighbor a tool without charging them rent, you loan a friend a book, etc.
Currency exists in its current form thanks to a military-coinage-slavery complex (coined by David Graeber). Essentially, the value of currency is determined by the military power of the state and people live in debt peonage. Rome invades Britain. Rome then demands taxes and tribute from the conquered populace in Roman coinage. The conquered people then must sell their labor (or fruits thereof) to obtain the Roman coinage to pay the Roman rulers. They do this at significant disadvantage, of course, because you've got to get those coins from Roman soldiers and governors...
This persists today. The United States government demands taxes paid in dollars. This is one of the foundations of where the value of currency comes from - dollars are extracted from the populace under threat of force. All businesses operating in the US must also legally accept dollars (the form is irrelevant - a business can refuse cash or credit cards if it wants, but it has to accept dollars in some form). The other foundation for the dollar maintaining value is through the military & government/global institutions forcing debts elsewhere to be settled in dollars (for instance, oil markets settled in dollars). It also somewhat underlies providing aid; we'll give another country $10 in military aid, then that money filters back to US military contractors & suppliers.
Where a government's currency is basically tied to its ability to project violence, crypto has no such capability. Its value is based solely on the exchange rate between government-backed currencies and the cryptocurrency. The volatility in that value is why it's essentially useless as an actual currency (similar to the currency volatility you see in failing countries). It also doesn't track as an inflationary hedge, like hard assets such as real estate or gold. At its core, it's a pyramid scheme (though I'd also argue that most of the global financial industry is a pyramid scheme too, so that's not a hard critique). And like any pyramid scheme, there's value to be had if you get in on the rise and get out before the collapse. And if you really want to play the pyramid scheme, you can buy derivatives now; just bet on whether bitcoin is going to rise or fall instead of actually holding bitcoin, for instance.
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It's like any other gamble in that case ....
Good food for thought though ...
I read this twice; it's shockingly true ...
On both sides of the coin (so to speak) ....
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This weekend would have been the time to jack a few bucks into the system and make a little bit of cash ...
So, as of today, the market (compared to this weekend) is up about 22%, yet still down about 35% from a week ago ...
The first percentage is today, the second is up/down over 7 days (most are down, granted) ...
Bitcoin
BTC
$38,019.03
12.95% 15.17%
$712,266,647,758
Ethereum
ETH
$2,390.57
22.82% 31.04%
$277,875,080,035
Tether
USDT
Buy
$1.00
0.07% 0.12%
$59,804,595,114
Cardano
ADA
$1.48
28.97% 30.24%
$47,383,833,296
Binance Coin
BNB
Buy
$309.74
29.54% 41.62%
$47,243,554,210
$6,127,961,151
Dogecoin
DOGE
$0.3322
11.15% 33.57%
$43,186,548,766
$7,729,050,602
XRP
XRP
$0.8704
22.44% 41.99%
$40,304,968,777
$9,344,025,578
Polkadot
DOT
Buy
$20.56
23.88% 48.21%
$19,439,617,158
$6,029,763,916
Internet Computer
ICP
$152.81
18.05% 26.37%
$18,905,207,177
Note: This is just a small sample of high trade coins I took as an example for the day ...
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It's still going up ... For now ...
Forget Bitcoin and Ethereum: 10 Best Cryptocurrencies Redditors are Buying
(https://finance-yahoo-com.cdn.ampproject.org/v/s/finance.yahoo.com/amphtml/news/forget-bitcoin-ethereum-10-best-161610562.html?amp_js_v=a6&_gsa=1&usqp=mq331AQFKAGwASA%3D#aoh=16220286673118&csi=1&referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s&share=https%3A%2F%2Ffinance.yahoo.com%2Fnews%2Fforget-bitcoin-ethereum-10-best-161610562.html)
Hmmm ....
I have a lot of 6 if those coins (hundreds at this point) ...
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You know I was actually thinking that if there was a time to dive in it would have been during the downturn. But I haven't studied this crap at all.
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I moved a few things around and popped a few more bucks out of the system ....
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Hey Thrash do you have any "Onecoin" in your portfolio?
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OneCoin?
No, I saw through that one right away ...
That was clearly a scheme ...
It was also "only "available through certain apps from makers that were banned from App Outlets a while back ...
I'm sure it's not the only one, and I'm sure a couple more will come out as such (smaller ones) ...
I try and only put money into the "bigger" coins ...
Not that ANY are "safe", mind you ...
But, as I said, I duck in and out, make a few bucks, and move around a bit ....
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It's still going downward ...
I'm thinking about mining with a pool of old cellphones I have ..
They aren't doing anything otherwise, Ave if I kill them, so what?
How to Use Your Smart Phone to Mine Crypto-Currency (https://www.planetcompliance.com/how-to-use-your-smart-phone-to-mine-crypto-currency/)
I mean; why not?
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This is a little outdated, but it's good info about cellphone mining ...
[Update (2018): Apps Now PlayStore Banned] -
How to Mine Cryptocurrency From Your Phone (https://www.xda-developers.com/cryptocurrency-monero-ethereum-litecoin-bitcoin-mining-android-smartphones/)
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Interesting ...
LiteCoin Cloud Mining (https://www-bitdegree-org.cdn.ampproject.org/v/s/www.bitdegree.org/crypto/amp/tutorials/litecoin-cloud-mining?amp_js_v=a6&_gsa=1&usqp=mq331AQKKAFQArABIIACAw%3D%3D#aoh=16247174379935&referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s&share=https%3A%2F%2Fwww.bitdegree.org%2Fcrypto%2Ftutorials%2Flitecoin-cloud-mining)
I've often thought this to be better than BitCoin mining at this point in the crypto game ... I would think that there's more available, and easier ...
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That would take a cell account for each phone wouldn't it? Could be an expensive hobby. I have some GPS tracker tags I haven't used for that reason.
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No, WiFi and spare phones/tablets but doing anything anyway ...
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TOP CRYPTOCURRENCIES THAT ARE EXPECTED TO GROW IN JULY 2021/THIS SUMMER (https://www.analyticsinsight.net/top-cryptocurrencies-that-are-expected-to-grow-in-july-2021/)
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Cryptocurrency Update: 5 Crypto Coins Gain up to 500% in 24 Hours. Details Here
(https://www-news18-com.cdn.ampproject.org/v/s/www.news18.com/amp/news/business/cryptocurrency-update-5-crypto-coins-gain-up-to-500-in-24-hours-details-here-4217477.html?amp_js_v=a6&_gsa=1#referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s&share=https%3A%2F%2Fwww.news18.com%2Fnews%2Fbusiness%2Fcryptocurrency-update-5-crypto-coins-gain-up-to-500-in-24-hours-details-here-4217477.html)
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Coinbase Launches Support for Four Ethereum-Powered Altcoins, Triggering Massive Rallies
(https://dailyhodl-com.cdn.ampproject.org/v/s/dailyhodl.com/2021/10/07/crypto-exchange-coinbase-launches-support-for-four-ethereum-powered-altcoins-triggering-massive-rallies/amp/?amp_js_v=a6&_gsa=1&usqp=mq331AQIKAGwASCAAgM%3D)
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4 Under-the-Radar Cryptos to Watch (https://www-fool-com.cdn.ampproject.org/v/s/www.fool.com/the-ascent/amp/cryptocurrency/articles/4-under-the-radar-cryptos-to-watch/?amp_js_v=a6&_gsa=1#referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s&share=https%3A%2F%2Fwww.fool.com%2Fthe-ascent%2Famp%2Fcryptocurrency%2Farticles%2F4-under-the-radar-cryptos-to-watch%2F%23referrer%3Dhttps%253A%252F%252Fwww.google.com%26amp_tf%3DFrom%2520%25251%2524s)
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CRYPTO MARKET ESCALATION: 10 CRYPTOCURRENCIES EXPECTED TO EXPLODE IN 2022
(https://www.analyticsinsight.net/crypto-market-escalation-10-cryptocurrencies-expected-to-explode-in-2022/)
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This cryptocurrency soars over 2,13,000% in last 24 hours
(https://www-livemint-com.cdn.ampproject.org/v/s/www.livemint.com/market/cryptocurrency/ethereum-meta-cryptocurrency-cryptocurrency-prices-today-bitcoin-price-today-ethereum-meta-price-today-ethereum-price-today-cryptocurrency-trading-crypto-investing/amp-11637060549660.html?amp_js_v=a6&_gsa=1#referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s&share=https%3A%2F%2Fwww.livemint.com%2Fmarket%2Fcryptocurrency%2Fethereum-meta-cryptocurrency-cryptocurrency-prices-today-bitcoin-price-today-ethereum-meta-price-today-ethereum-price-today-cryptocurrency-trading-crypto-investing-11637060549660.html)
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EShib is killing it this week ...
How to purchase EShiba (European Shiba Inu) today (https://cryptobuyingtips.com/guides/how-to-buy-euro-shiba-inu-eshib)
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3 Coins With The Potential To Be The Next SHIBA in 2022 (https://www.fxempire.com/forecasts/article/3-coins-with-the-potential-to-be-the-next-shiba-in-2022-860712)
Like SPEP&SAPE ...
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How to Find 100x Altcoins Early, Per Investor Who Got SOL at 33 Cents
(https://bitcoins.inc/how-to-find-100x-altcoins-early-per-investor-who-got-sol-at-33-cents/)
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In being fair to all sides ...
Top 5 Altcoin Scans] (https://www.benzinga.com/money/altcoin-scams/)
... you have to watch out for yourself in the process!
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How to Mine Bitcoin on PC with one GPU at Home: Step-by-Step Guide
(https://2miners-com.cdn.ampproject.org/v/s/2miners.com/blog/how-to-mine-bitcoin-on-pc-with-one-gpu-at-home-step-by-step-guide/amp/?amp_js_v=a6&_gsa=1&usqp=mq331AQIKAGwASCAAgM%3D#aoh=16435501429225&csi=0&referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s&share=https%3A%2F%2F2miners.com%2Fblog%2Fhow-to-mine-bitcoin-on-pc-with-one-gpu-at-home-step-by-step-guide%2F)