ESOC Crypto Corner

[RefluxSemantic]

Are you doing this for fun or with real money? I sincerely doubt this is a good trading strategy

[Goodspeed]

Both and same, but it backtested really well :shrug:

We need a shrugging emoji

[RefluxSemantic]

Both and same, but it backtested really well :shrug:

We need a shrugging emoji

I feel like ultimately you're going to be doing what all big financial institutions do but much worse.

[Goodspeed]

What's that?

[RefluxSemantic]

What's that?

AI based trading?

[Goodspeed]

It's just an automated way to make trades so I don't have to pay attention, and a fun educational project. I obviously don't expect to outperform big financial institutions on ROI lol

[XeeleeFlower]

Should make it clear that not all crypto investments are being traded with the bot. It's just a small percentage.

[princeofcarthage]

How much have you earned so far (~estimate) /w or/wo bot in crypto trading?

[RefluxSemantic]

It's just an automated way to make trades so I don't have to pay attention, and a fun educational project. I obviously don't expect to outperform big financial institutions on ROI lol

ah yeah, just wanted to warn you in case.

[Goodspeed]

Nothing and nothing
Most of my holdings were xrp and ripple is getting sued by the SEC which fucked xrp in the short term. If the suit goes ripple's way it will probably skyrocket but it'll take a while for that to get resolved.
The bot only started jan 1st and is up like 30% but that's only because the market is up 30%. Like I said it's 0-1 on good trades vs bad trades

[RefluxSemantic]

https://www.bbc.com/news/technology-56012952

fuck bitcoin. I hope it gets nuked asap.

[Horsemen]

https://www.bbc.com/news/technology-56012952

fuck bitcoin. I hope it gets nuked asap.

Taking into account the environmental impact and cost of electricity, the NPV of Bitcoin is probably negative and yet people will still pay $50k to buy it. Probably the most value-destructive speculative asset of our generation.

[RefluxSemantic]

Its not like bitcoin actually does anything positive to society anyways. But contributing 1% to humanity's biggest crisis ever is a good way to make it the worst out of all of them.

Seriously, anyone in this topic thats investing in bitcoin or other cryptocurrencies, please be aware that you're contributing towards the destruction of our planet as we know it.

[Riotcoke]

That chart makes the US look insanely greedy for power as well

[RefluxSemantic]

That chart makes the US look insanely greedy for power as well

Its by far the largest western country. In general it is complicated to directly compare countries. If most products are produced in the USA, that doesnt mean that the USA is the problem (rather the people that buy those products are).

But lets not focus on that. Lets focus on the fact that we waste 1 fucking percent of our power on useless speculation that contributes nothing to society (unless you think the insane prices of GPUs are a positive contribution to society)

[Jam]

That chart makes the US look insanely greedy for power as well

The lack of consumption in India is surprising considering population.

[Goodspeed]

Its not like bitcoin actually does anything positive to society anyways. But contributing 1% to humanity's biggest crisis ever is a good way to make it the worst out of all of them.

Seriously, anyone in this topic thats investing in bitcoin or other cryptocurrencies, please be aware that you're contributing towards the destruction of our planet as we know it.

Not all cryptos waste energy

[Mr_Bramboy]

https://www.bbc.com/news/technology-56012952

fuck bitcoin. I hope it gets nuked asap.

The electricity usage is surprising, but it's the economic instability and base asset volatility that makes it an investment risk.

Otherwise, I like Argentina.

[n0el]

Its not like bitcoin actually does anything positive to society anyways. But contributing 1% to humanity's biggest crisis ever is a good way to make it the worst out of all of them.

Seriously, anyone in this topic thats investing in bitcoin or other cryptocurrencies, please be aware that you're contributing towards the destruction of our planet as we know it.

Not all cryptos waste energy

explain please. i was under the assumption that all crypto's operate in the same manner in terms of exchange.

[RefluxSemantic]

Its not like bitcoin actually does anything positive to society anyways. But contributing 1% to humanity's biggest crisis ever is a good way to make it the worst out of all of them.

Seriously, anyone in this topic thats investing in bitcoin or other cryptocurrencies, please be aware that you're contributing towards the destruction of our planet as we know it.

Not all cryptos waste energy

So there are cryptocurrencies that dont use any energy?

[Horsemen]

[Dolan]

Bogged.

[DoctorSulla]

Its not like bitcoin actually does anything positive to society anyways. But contributing 1% to humanity's biggest crisis ever is a good way to make it the worst out of all of them.

Seriously, anyone in this topic thats investing in bitcoin or other cryptocurrencies, please be aware that you're contributing towards the destruction of our planet as we know it.

Not all cryptos waste energy

explain please. i was under the assumption that all crypto's operate in the same manner in terms of exchange.

Most of today's largest cryptocurrencies use proof of work as a consensus method which is very energy intensive. Some cryptocurrencies instead use proof of stake which is much less so.

[harcha]

Which are the largest PoS cryptos?

[princeofcarthage]

It's almost as if history repeats itself.

I have a business proposal. Programmers preferred. NDA and anti-competition contract signage compulsory.