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Netherlands Goodspeed
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Posts: 5909

30 May 2018, 17:13

Snuden wrote:Skeptics predict it will go further down before it goes back up.
:hmm: If they didn't they wouldn't be skeptics
Whether or not it is clear to you, no doubt the universe is unfolding as it should.
XeeleeFlower wrote:I don't mind open endings as long as the story continues at some point
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Sweden Gendarme
Jaeger
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30 May 2018, 17:15

:hleung:
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duck wrote:man it really sucks when you have to agree with gendarme on things
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Greece Googol
Lancer
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30 May 2018, 18:22

Gendarme wrote::hleung:


oos :hehe:
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European Union Radix_Lecti
Dragoon
Posts: 304

30 May 2018, 20:39

should be back at pre hype 4k soon.
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Cyprus Snuden
Howdah
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Location: Asgard

31 May 2018, 02:43

Goodspeed wrote:
Snuden wrote:Skeptics predict it will go further down before it goes back up.
:hmm: If they didn't they wouldn't be skeptics

So skeptics think it will go all the way down to 0? :dry:
I ain't gonna work for Maggies mom no more...!
European Union matty1248
Crossbow
Posts: 25

31 May 2018, 11:53

It's strange to me that so much of this 52 page thread is about people wanting to make a quick buck and the opposing doubters sticking their oar in to call it a bubble and a bad investment.
The real interest in crypto currency for me is that it can entirely wipe out every manual aspect of financial sector, from banking to lending to accountancy and also it's potential to lead to something closer to a true form of capitalism, balancing global finances and destroying the boom and bust trends of the last 50 years and more.
Almost none of our high street banks contain actual 'bankers' anymore, they are occupied by employees who simply put our information into their system and fecilitate very simple transactions we are making, and the amount of money required to operate these franchises and pay the staff is monumental. At the top end of the system you have the most valued real estate in our principle cities occupied by people who do actually work with numbers and have significant responsibilities, many of whom are unscrupulous and driven by greed. The cryptocurrency system negates the need for any of these things by simply doing all the work electronically.
Crpto can also remove human error entirely and remove the responsibility from people like those who created the 2008 financial bubble through subprime mortgage lending when the risks were so clear. As well as this it can spread the load on a global scale rather than on a national scale when there financial problems do emerge for one reason or another. The constitution of currency and finance can become a global democratic issue rather than a corporate and political football.
Lending is also simplified and becomes something like a pier to pier system, there can be a fairly stable global excess of money/'savings' which is pooled and a persons eligability to borrow from that pool will depend on their credit rating.
Accounting can also clearly become massively simplified in a world which trades exclusively in crypto just at the click of a button.
Whether the system is over inflated at this point and or failing to deliver whats required from it, the end goal and product is rather simple and clear to see and, possibly the main benefit/objective is to balance the playing field globally and to reduce the risk of 'bubbles' emerging.
It does, however, appear that it will take a long time to get to the point of crypto becoming the mainstream currency, but not for any technological reason. I would speculatively suggest that their are some big financial players encouraging turbulance in the market at this stage to try to propogate fear in smaller genuine investors, probably the market cap will need to go well beyond a trillion dollars before manipulation is beyond these players capability if it's even possible.
Also, whilst it may be true that no one can stop the block chain without closing down the entire internet, most western governments haven't really had much input on what they will accept here. If the government decides one day that it only wants one crypto currency of their choosing to be accepted as tender by merchants then it's not a hard step for them to take and whichever crypto currency you are invested in will simply die a death, regardless of whether the block chain is still active. It could well come to be that governments decide that they still want their own exclusive national currency's and in this way negate many of the potential benefits of crypto whilst they maintain this policy
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Cyprus Snuden
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ESO: Snuden
Location: Asgard

31 May 2018, 11:56

matty1248 wrote:It's strange to me that so much of this 52 page thread is about people wanting to make a quick buck and the opposing doubters sticking their oar in to call it a bubble and a bad investment.

The real interest in crypto currency for me is that it can entirely wipe out every manual aspect of financial sector, from banking to lending to accountancy and also it's potential to lead to something closer to a true form of capitalism, balancing global finances and destroying the boom and bust trends of the last 50 years and more.

Almost none of our high street banks contain actual 'bankers' anymore, they are occupied by employees who simply put our information into their system and fecilitate very simple transactions we are making, and the amount of money required to operate these franchises and pay the staff is monumental. At the top end of the system you have the most valued real estate in our principle cities occupied by people who do actually work with numbers and have significant responsibilities, many of whom are unscrupulous and driven by greed. The cryptocurrency system negates the need for any of these things by simply doing all the work electronically.

Crpto can also remove human error entirely and remove the responsibility from people like those who created the 2008 financial bubble through subprime mortgage lending when the risks were so clear. As well as this it can spread the load on a global scale rather than on a national scale when there financial problems do emerge for one reason or another. The constitution of currency and finance can become a global democratic issue rather than a corporate and political football.

Lending is also simplified and becomes something like a pier to pier system, there can be a fairly stable global excess of money/'savings' which is pooled and a persons eligability to borrow from that pool will depend on their credit rating.
Accounting can also clearly become massively simplified in a world which trades exclusively in crypto just at the click of a button.

Whether the system is over inflated at this point and or failing to deliver whats required from it, the end goal and product is rather simple and clear to see and, possibly the main benefit/objective is to balance the playing field globally and to reduce the risk of 'bubbles' emerging.

It does, however, appear that it will take a long time to get to the point of crypto becoming the mainstream currency, but not for any technological reason. I would speculatively suggest that their are some big financial players encouraging turbulance in the market at this stage to try to propogate fear in smaller genuine investors, probably the market cap will need to go well beyond a trillion dollars before manipulation is beyond these players capability if it's even possible.

Also, whilst it may be true that no one can stop the block chain without closing down the entire internet, most western governments haven't really had much input on what they will accept here. If the government decides one day that it only wants one crypto currency of their choosing to be accepted as tender by merchants then it's not a hard step for them to take and whichever crypto currency you are invested in will simply die a death, regardless of whether the block chain is still active. It could well come to be that governments decide that they still want their own exclusive national currency's and in this way negate many of the potential benefits of crypto whilst they maintain this policy
I ain't gonna work for Maggies mom no more...!
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Netherlands Goodspeed
Retired Contributor
Posts: 5909

31 May 2018, 12:16

matty1248 wrote:It's strange to me that so much of this 52 page thread is about people wanting to make a quick buck and the opposing doubters sticking their oar in to call it a bubble and a bad investment.
Strange? I'd think it's exactly what you'd expect. :chinese:

Software is in the process of transforming every industry. That includes the financial sector. Digital money is obviously going to be a thing. But the significance of applying blockchain to it is vastly overstated imo. The dollar itself is not far from being a digital currency. Who still uses cash? The change doesn't require blockchain at all. Smart contracts are great, instant overseas payments are great, but none of it requires blockchain. It's certainly one way to do it, but idk why people call it revolutionary.
Whether or not it is clear to you, no doubt the universe is unfolding as it should.
XeeleeFlower wrote:I don't mind open endings as long as the story continues at some point
European Union matty1248
Crossbow
Posts: 25

31 May 2018, 12:50

Well to be honest i don't frequent many forums, but with reference to my own perspective i find it strange.

I am in agreement that i don't really see the blockchain as fundamental, and in all honesty i don't have a strong understanding of it, it's simply the automation factor that i see value in. I'm sure a secure system can be achieved, and i don't think it's really a technological aspect that is restricting the progress of crypto. I suppose protectionism, understanding, conservatism and so on are the main hurdles to be crossed, and these are not factors to be diminished, progress must be kept in check and potential systematic problems should be very closely analysed.
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Taiwan Vinyanenya
ESOC Community Team
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10 Jun 2018, 21:55

Robinhood is a good app because they send me push notifications whenever bitcoin crashes.
duck, first of firsts among trashcans
I think my control overall is really good, maybe top 2 in the world
this signature is all fake news
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Sweden Gendarme
Jaeger
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10 Jun 2018, 22:01

Man the days at $7,700 were rather grim. Finally the short paid off, although I suspect that this is only the beginning. This is probably going to crash hard.
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duck wrote:man it really sucks when you have to agree with gendarme on things
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Sweden Gendarme
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ESO: Gendarme

12 Jun 2018, 19:35

There's blood in the streets.
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duck wrote:man it really sucks when you have to agree with gendarme on things
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Norway iwillspankyou
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iwillspankyou
Posts: 3140

12 Jun 2018, 20:24

Gendarme wrote:There's blood in the streets.

told you months ago :cry: first your on the hype for it, and now your in for the down of it - "good luck" :roll:
Hippocrits are the worst of animals. I love elifants.
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Sweden Gendarme
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12 Jun 2018, 20:25

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duck wrote:man it really sucks when you have to agree with gendarme on things
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Norway iwillspankyou
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iwillspankyou
Posts: 3140

12 Jun 2018, 20:26

hope you are not cleaned out @Snuden - honestly
Hippocrits are the worst of animals. I love elifants.
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Norway iwillspankyou
Jaeger
iwillspankyou
Posts: 3140

12 Jun 2018, 20:28


you flatter yourself 2 much :uglylol: turncoat
Hippocrits are the worst of animals. I love elifants.
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Taiwan Vinyanenya
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12 Jun 2018, 20:28



Have you made money yet
duck, first of firsts among trashcans
I think my control overall is really good, maybe top 2 in the world
this signature is all fake news
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Sweden Gendarme
Jaeger
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ESO: Gendarme

12 Jun 2018, 20:30

I've been shorting with 5x leverage since $8,500. Not a large amount (because I lost a lot of money earlier with some bad moves), but yeah I've profited.
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duck wrote:man it really sucks when you have to agree with gendarme on things
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Netherlands Goodspeed
Retired Contributor
Posts: 5909

12 Jun 2018, 20:50

You might be in over your head. You may think you're smarter than the market but you're effectively gambling
Whether or not it is clear to you, no doubt the universe is unfolding as it should.
XeeleeFlower wrote:I don't mind open endings as long as the story continues at some point
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Sweden Gendarme
Jaeger
Donator 02
Posts: 3598
ESO: Gendarme

12 Jun 2018, 20:53

I might.
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duck wrote:man it really sucks when you have to agree with gendarme on things
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Cyprus Snuden
Howdah
Posts: 1811
ESO: Snuden
Location: Asgard

12 Jun 2018, 21:23

iwillspankyou wrote:hope you are not cleaned out @Snuden - honestly

?

EDIT: Guess I can't fault you for being dumb, you probably mean well.

As I have said 666 times, you only lose money when you SELL. Besides, I make MORE crypto when prices goes down, as whatever I do, the price is tied to fiat. Let's say that I made 1 ETH daily a week ago, I make 1.3 ETH a day with current rate.

The price could go to $1/1 ETH for all I care, I would just make more ETH. A drop of 25% in 2 days followed by a raise of 25% within a day would hurt me. :hmm:

Thanks for your concern though.
I ain't gonna work for Maggies mom no more...!
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Norway iwillspankyou
Jaeger
iwillspankyou
Posts: 3140

12 Jun 2018, 21:40

pure speculations then, and not "this is a fair currency" shit - lol @Snuden your just to much :P
Hippocrits are the worst of animals. I love elifants.
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Cyprus Snuden
Howdah
Posts: 1811
ESO: Snuden
Location: Asgard

12 Jun 2018, 21:43

I doubt I have ever said "this is a fair currency"
I have probably said something like "this is a perfect means of payment" and/or "the technology is amazing in many cases"

Only an idiot would calculate anything in pure crypto at this point.
I ain't gonna work for Maggies mom no more...!
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Cyprus Snuden
Howdah
Posts: 1811
ESO: Snuden
Location: Asgard

12 Jun 2018, 22:04

FFS WOMAN!
I was just about to sleep and then I read how you apparently think everybody is an idiot.

Now I am wide awake!
I ain't gonna work for Maggies mom no more...!
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Cyprus Snuden
Howdah
Posts: 1811
ESO: Snuden
Location: Asgard

12 Jun 2018, 22:21

Kek.
I ain't gonna work for Maggies mom no more...!

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