Let's talk about Cryptocurrencies

[afc wimbledon]

Originally Posted by Jason14h

So have you shorted bitcoins miners and coinbase yet ? You seem pretty sure it’s garbage (as is your right - everyone can have an opinion - and you may be correct ) - go get rich vs constantly repeating the exact same post for a year - Bitcoin is only used by money launders and thief’s !

Or is it Homer Simpson’s syndrome “ Everybody is stupid but me “

And second point, I'm not saying crypto is garbage, I have no idea about that, I do know one immutable truth though, currency's have to have stability to function, they just dont work if they go up or down more than 5 or 6% a year let alone a day, the thing that makes crypto an investment stops it being a currency but if the thing that makes it an investment is it's a currency, well there is something fundamentally wrong with the logic there.

[dino7c]

Originally Posted by jammies

I'd rather bet real money, however I couldn't find any sites that weren't sketchy, illegal in Canada, or based on crypto. Does anyone know of any such service? I'm willing to put up $1000, however, it's not just that I don't necessarily trust you to pay up, but also, why would you trust me?



Yes, I was wrong in 2017 about the price of bitcoin peaking. I was also wrong in 2015 that Trump was a joke candidate and would never win the Republican nomination, never mind becoming President. I bought a few thousand in Blackberry stock a few years back when I thought they'd bottomed out, too. Does that make your predictions in 2021 right somehow?

It's ok to admit you were wrong. But you, dino, never do. It's easy - just say, "Yeah, in 2021, I made some predictions that didn't turn out. It's been 3 years, and medium-term crypto bets have been a loser." If you can't argue with success, it's hard to see how you can justify arguing with failure.

Lastly, I wasn't wrong about bitcoin being unsuited to daily commerce due to being both deflationary and horribly inefficient. I wasn't wrong that it would never become a legit alternative to fiat currency. (Look at Argentina, triple-digit monthly inflation, so people are using dollars, euros, and barter - not crypto). I wasn't wrong that web3 would never be more than niche. I wasn't wrong that it's a ****ty store of value because it's far too volatile, or to laugh at the guys predicting $1,000,000 bitcoin by 2023.

Nor am I wrong that crypto is, if not dead, moribund. The money that used to go to crypto start-ups is going to generative AI. Nobody cares anymore except the true believers and ransomware gangs. So much for the revolution.

failure? haha

You can't be serious pal

I have $1100.00 Bitcoins in a Trezor, and I talked about them in this thread since they were worth $2000 do the math

This is why you guys just sound like butt hurt idiots

"OMG you loser only made 500k and not 1M, what a bad investment"

IF I took your advice I would have ZERO

500k>Zero

also, if you think today is the highest the Bitcoin price will ever be you have now grasp on the market

Funny how nobody will even make a prediction anymore, just "it's done" "It sucks"

at least I put myself out there

BTC price in May 2024? Higher or lower...its supposedly done so you say lower obviously

Let's see, what will be the excuse at that time?

[dino7c]

Originally Posted by afc wimbledon

And second point, I'm not saying crypto is garbage, I have no idea about that, I do know one immutable truth though, currency's have to have stability to function, they just dont work if they go up or down more than 5 or 6% a year let alone a day, the thing that makes crypto an investment stops it being a currency but if the thing that makes it an investment is it's a currency, well there is something fundamentally wrong with the logic there.

do you have any idea how much cash they are printing daily?

[GGG]

Originally Posted by Azure

Ummm, what? I know lots of people that invest in BTC, and have done so for the long-term so they can retire. If you're smart you invest what you can afford to lose.

I get the argument that Fuzz is making, but whatever you are babbling on about makes zero sense.

In general when you invest you are investing what you can’t afford to lose. It’s your entire retirement. So you diversify your investment do reduce risk so the risk of loss moves close to zero in a long enough time period.

If you say invest what you can’t afford to lose you don’t really have an investment. You hear the same strategy about GameStop, BBBY and GME.

[afc wimbledon]

Originally Posted by dino7c

do you have any idea how much cash they are printing daily?

In 1971 the Canadian Dollar was pretty much on par with the US, in the intervening half century it has gone to a 1.30, that is about 1 to 2% loss of value a year, that's what a viable currency does, printing money is at times essential to reduce deflation, reducing money supply is at other times essential to limit inflation, that's how currencies have to work to function

[topfiverecords]

Originally Posted by dino7c

failure? haha

You can't be serious pal

I have $1100.00 Bitcoins in a Trezor, and I talked about them in this thread since they were worth $2000 do the math

This is why you guys just sound like butt hurt idiots

"OMG you loser only made 500k and not 1M, what a bad investment"

IF I took your advice I would have ZERO

500k>Zero

also, if you think today is the highest the Bitcoin price will ever be you have now grasp on the market

Funny how nobody will even make a prediction anymore, just "it's done" "It sucks"

at least I put myself out there

BTC price in May 2024? Higher or lower...its supposedly done so you say lower obviously

Let's see, what will be the excuse at that time?

No one cares about your predictions. No one cares if you have 10 BTC or 10,000 BTC. No one cares if you made $200 or $200,000,000. No matter how many times you post about your BTC it won’t change. Quit rage ranting anytime there’s a discussion about Bitcoin or crypto. That’s what this thread is for, and especially not what Fire on Ice is so stop bringing up your BTC prediction there too.

You haven’t once posted a single solitary line that is evidence you have any knowledge about crypto. You made a gambling bet and it went in your favour. Big whoop. It’s not skill or expertise and it certainly doesn’t give you any clout on the matter.

[afc wimbledon]

Originally Posted by dino7c

failure? haha

You can't be serious pal

I have $1100.00 Bitcoins in a Trezor, and I talked about them in this thread since they were worth $2000 do the math

This is why you guys just sound like butt hurt idiots

"OMG you loser only made 500k and not 1M, what a bad investment"

IF I took your advice I would have ZERO

500k>Zero

also, if you think today is the highest the Bitcoin price will ever be you have now grasp on the market

Funny how nobody will even make a prediction anymore, just "it's done" "It sucks"

at least I put myself out there

BTC price in May 2024? Higher or lower...its supposedly done so you say lower obviously

Let's see, what will be the excuse at that time?

The trouble is neither you nor I can make any kind of prediction as there is no underlying mechanism other than the greed or fear of loss of to guess with, I can look at Boeing and see that it's planes have constant issues, doors falling off in mid air, it is still a guess but it's pretty likely that Boeing stocks will drop and Airbus's will rise.

Crypto might go up, might get wiped out or may just sit where it is, there is literally no way of knowing, it's all a complete guess

[Jason14h]

Originally Posted by afc wimbledon

In 1971 the Canadian Dollar was pretty much on par with the US, in the intervening half century it has gone to a 1.30, that is about 1 to 2% loss of value a year, that's what a viable currency does, printing money is at times essential to reduce deflation, reducing money supply is at other times essential to limit inflation, that's how currencies have to work to function

Two of the most stable countries in the world for currencies .

Plus who cares if it meets a currency definition vs store of wealth vs ease of monetary transfer .

You seem to be pendantic that it’s not a true currency by a definition you like . I don’t think anyone really cares

And lots of currencies fluctuates massively - sure not Canada and the Us - Teo
Of the most stable currencies in the world. Even the Euro and Pound have seen large fluctuations over the past 20 years

[afc wimbledon]

Originally Posted by Jason14h

Two of the most stable countries in the world for currencies .

Plus who cares if it meets a currency definition vs store of wealth vs ease of monetary transfer .

You seem to be pendantic that it’s not a true currency by a definition you like . I don’t think anyone really cares

And lots of currencies fluctuates massively - sure not Canada and the Us - Teo
Of the most stable currencies in the world. Even the Euro and Pound have seen large fluctuations over the past 20 years

Well that's kind of really really important if you are predicating crypto's success, it's rise in value, on it's ability to replace banking and or currency in the third world or anywhere else, I assume you wouldn't invest in Tesla if their cars didn't work.

If you don't care if it's a viable currency then what exactly are you investing in? what function of crypto do you see causing it's value to go up or down?

[opendoor]

Originally Posted by dino7c

do you have any idea how much cash they are printing daily?

Do you? The US money supply has been contracting for almost 2 years and is now lower than it was in mid-2021. Canada's is still growing, but at its slowest pace in decades.

[afc wimbledon]

Originally Posted by Jason14h

Two of the most stable countries in the world for currencies .

Plus who cares if it meets a currency definition vs store of wealth vs ease of monetary transfer .

You seem to be pendantic that it’s not a true currency by a definition you like . I don’t think anyone really cares

And lots of currencies fluctuates massively - sure not Canada and the Us - Teo
Of the most stable currencies in the world. Even the Euro and Pound have seen large fluctuations over the past 20 years

That's kind of the point I am making though, when they do people stop using them and start using the US dollar, 11 countries just use the dollar officially and 30 or more others use it unofficially because of the instability of their own currencies, you would not want to be paid in crypto because you wouldn't be able to plan for anything, you would have no clue from month to month what your wages would actually buy

[Jason14h]

Originally Posted by afc wimbledon

Well that's kind of really really important if you are predicating crypto's success, it's rise in value, on it's ability to replace banking and or currency in the third world or anywhere else, I assume you wouldn't invest in Tesla if their cars didn't work.

If you don't care if it's a viable currency then what exactly are you investing in? what function of crypto do you see causing it's value to go up or down?

I have no issue saying Bitcoin isn’t the best or most practical crypto - it is just the most mainstream and therefor the lowest perceived risk

I don’t actually own very much Bitcoin (1-2% of liquid net worth ) But I do own a bit for a few reasons

1. I believe long term it will continue to appreciate it price due to demand both as an invest and as a non currency / bank linked store of value
2. I like to have some forms of value outside my bank accounts and brokerage accounts . Do I expect a banking issue in Canada ? No . Do I expect my assets to be frozen for some reason? No but that doesn’t mean i don’t take some small precaution
3. The account online crypto (not cold storage offline wallets ) I use are attached to debit cards , have full liquidity , and (until
Recently ) paid better staking / interest them a liquid bank account and gave cash back . I can effectly use as my financial instrument vs holding (more) Canadian dollars in a bank account
4. Banks don’t move money on holidays and weekends. I can interact $3000 max . I can convert my crypto portfolio to fiat ( for a few % pts) instantly if required or move to someone quickly if needed . I have actually done this needing to pay someone and not being able get cash in Bulgaria because the Canadian banks restricted my withdrawal amount on a Saturday . I literally transferred crypto and got handed cash (BGN Lev)

Do I use Bitcoin (or any crypto) for my day to day usage ? No more then a block of gold I put in my safety deposit box . But CAN I if required ? Absolutely - and the acceptance / transferral gets more common by the day

It’s expensive , but other cryptos aren’t. It unstable value pegged
To USD wise - but others aren’t. What it is currently is the most popular and widely accepted and trusted - which is where the value come from vs pop up coins . You can relatively be assured Bitcoin isn’t disappearing overnight

Now if you live in a communist country , a dictator regime , an underbaked society where you either can’t use a bank , or the government can seize you money or the bank disappears overnight - putting your money in a bank isn’t feasible or desirable - even if you are risking a devaluation on fluctuations

People can still buy good and services if their Bitcoin is worth 10% less . They can’t when a government or bank takes their money or freezes their assets

In Canada Bitcoin is mostly a small hedge of unlikely scenarios or an investment - but that doesn’t mean worldwide it is seen or transacted like that

[dino7c]

Originally Posted by topfiverecords

No one cares about your predictions. No one cares if you have 10 BTC or 10,000 BTC. No one cares if you made $200 or $200,000,000. No matter how many times you post about your BTC it won’t change. Quit rage ranting anytime there’s a discussion about Bitcoin or crypto. That’s what this thread is for, and especially not what Fire on Ice is so stop bringing up your BTC prediction there too.

You haven’t once posted a single solitary line that is evidence you have any knowledge about crypto. You made a gambling bet and it went in your favour. Big whoop. It’s not skill or expertise and it certainly doesn’t give you any clout on the matter.

lol nobody cares so much they have to come and tell me they don't care daily

sorry the posters that have called it dead 10x have been wrong again and again and continue to be wrong and smug about it

you bet your ass I will call you guys out on it, you seem to like to do it to me despite me owning the space

My predictions haven't been exactly 100% (who is) but have followed the cycle I speak about


Imagine spending this much time on something you had so much and has been dead for 5 plus years. You just can't stand being so so wrong lol.

If BTC was dead it would drop like a stone...the biggest holders are some of the wealthiest people on the planet, this idea that it disappears overnight at some point is so misguided

You seem like the jelly rage ranter

I don't often rage about winning half a million on a "silly bet"

I mean for years now

this is Tulips! this is Beanie babies! listen to me! this time its done for sure!

lol you should invest in copium

I wasn't saying #### other than what I think will happen until "peak $3k in 2017" Jammies wrote a novel about me

[dino7c]

Originally Posted by Jason14h

I have no issue saying Bitcoin isn’t the best or most practical crypto - it is just the most mainstream and therefor the lowest perceived risk

I don’t actually own very much Bitcoin (1-2% of liquid net worth ) But I do own a bit for a few reasons

1. I believe long term it will continue to appreciate it price due to demand both as an invest and as a non currency / bank linked store of value
2. I like to have some forms of value outside my bank accounts and brokerage accounts . Do I expect a banking issue in Canada ? No . Do I expect my assets to be frozen for some reason? No but that doesn’t mean i don’t take some small precaution
3. The account online crypto (not cold storage offline wallets ) I use are attached to debit cards , have full liquidity , and (until
Recently ) paid better staking / interest them a liquid bank account and gave cash back . I can effectly use as my financial instrument vs holding (more) Canadian dollars in a bank account
4. Banks don’t move money on holidays and weekends. I can interact $3000 max . I can convert my crypto portfolio to fiat ( for a few % pts) instantly if required or move to someone quickly if needed . I have actually done this needing to pay someone and not being able get cash in Bulgaria because the Canadian banks restricted my withdrawal amount on a Saturday . I literally transferred crypto and got handed cash (BGN Lev)

Do I use Bitcoin (or any crypto) for my day to day usage ? No more then a block of gold I put in my safety deposit box . But CAN I if required ? Absolutely - and the acceptance / transferral gets more common by the day

It’s expensive , but other cryptos aren’t. It unstable value pegged
To USD wise - but others aren’t. What it is currently is the most popular and widely accepted and trusted - which is where the value come from vs pop up coins . You can relatively be assured Bitcoin isn’t disappearing overnight

Now if you live in a communist country , a dictator regime , an underbaked society where you either can’t use a bank , or the government can seize you money or the bank disappears overnight - putting your money in a bank isn’t feasible or desirable - even if you are risking a devaluation on fluctuations

People can still buy good and services if their Bitcoin is worth 10% less . They can’t when a government or bank takes their money or freezes their assets

In Canada Bitcoin is mostly a small hedge of unlikely scenarios or an investment - but that doesn’t mean worldwide it is seen or transacted like that

hmm, what current political news could potentially bump crypto in the near future

[Jason14h]

Originally Posted by dino7c

hmm, what current political news could potentially bump crypto in the near future

Trudeau not resigning and getting re-elected !

[dino7c]

f

Originally Posted by afc wimbledon

The trouble is neither you nor I can make any kind of prediction as there is no underlying mechanism other than the greed or fear of loss of to guess with, I can look at Boeing and see that it's planes have constant issues, doors falling off in mid air, it is still a guess but it's pretty likely that Boeing stocks will drop and Airbus's will rise.

Crypto might go up, might get wiped out or may just sit where it is, there is literally no way of knowing, it's all a complete guess

Thing is that there is...and I have told you about it multiple times but you guys are too butt hurt to listen

there is a cycle where at certain points the mining rewards are sliced in half and combined with a finite supply thus far that has always pushed the price higher in the following months until it falls back to a support band

Now if you think its dead well then it doesn't matter I suppose but anyone interested should watch the cycles...thus far they have been a pretty easy read.

And I have rode BTC from $1k to 20k to 2k to 80k to 45K ect.

disagree all you like but let's not pretend I got lucky on one parlay. I also have a smaller amount of multiple cryptos in a "day trade" account that has demolished my market funds


many of the wealthiest people in the world are buying into crypto, if only they read this thread they could have saved their billions on the advice of middle class canadians with their noses in the air


I'm even willing to put myself out there on an avatar bet for CP shame but deep down you guys know I'm right and that BTC is going up long before it goes down so I see many insults but no takers

[topfiverecords]

[dino7c]

Originally Posted by topfiverecords

this clown is so butt hurt he is sending me PMs now trash talking

who is raging exactly?

the "beanie babies" guy sending PMs or the guy who made over half a million in the space SO FAR

like I said, take the advice from whoever you wish...this is a free thread to discuss whatever

I doubt anyone here has made more money in cypto than me

by hook or by crook, don't care...neither will my families future generations

keep crying, please stop the PMs though that is next level butt hurt even for you

[Roof-Daddy]

Hahaha

[dino7c]

quick send Michael Saylor a PM and tell the billionaire he doesn't know how to make money and doesn't have a clue what he is doing

save him now before it's too late