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Post by staffordshrew on Mar 23, 2022 13:52:43 GMT 1
A train has derailed in Newcastle causing widespread disruption to the transport network during rush hour. Not the crypto train 😂📈 Bet you're chuffed about that.
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Post by martinshrew on Mar 23, 2022 14:18:02 GMT 1
Extremely, the dinosaurs will wake up at some point.
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Post by frankwellshrews on Mar 23, 2022 15:09:46 GMT 1
You know what they say; during a gold rush, sell shovels.
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Post by Pilch on Mar 23, 2022 20:20:06 GMT 1
I'm still investing in whisky liquid assets what's the worst than can happen ?, I drink it ;-)
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Post by martinshrew on Apr 5, 2022 11:53:38 GMT 1
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Post by frankwellshrews on Apr 5, 2022 12:44:35 GMT 1
Wondered how long it'd take you to trot this one out. Slow off the mark, this is yesterday's news. The stablecoin one is really interesting as it almost certainly means tether isn't going to be allowed into the tent which is going to raise (or should raise) all sorts of questions about what the real $/btc exchange rate is. Either that or tether will surprise us and reveal all. What the hell is a Royal Mint NFT and why would anyone want one? Are the government now saying they want to use NFTs as their way of trading gilts etc? Possible but answers on a postcard please as Rishi just appears to be regurgitating buzzwords. What this looks like in practice is government backed stablecoins as a new form of digital currency and government backed blockchain NFTs as a way to trade debt instruments. Wtf? Crypto bros love centralisation now
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Post by martinshrew on Apr 5, 2022 12:55:04 GMT 1
Wondered how long it'd take you to trot this one out. Slow off the mark, this is yesterday's news. The stablecoin one is really interesting as it almost certainly means tether isn't going to be allowed into the tent which is going to raise (or should raise) all sorts of questions about what the real $/btc exchange rate is. Either that or tether will surprise us and reveal all. What the hell is a Royal Mint NFT and why would anyone want one? Are the government now saying they want to use NFTs as their way of trading gilts etc? Possible but answers on a postcard please as Rishi just appears to be regurgitating buzzwords. What this looks like in practice is government backed stablecoins as a new form of digital currency and government backed blockchain NFTs as a way to trade debt instruments. Wtf? Crypto bros love centralisation now I didn't offer my opinion on it, I merely shared the link. I had you top of the list of those likely to reply though 😉
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Post by staffordshrew on Apr 5, 2022 17:41:47 GMT 1
Am I right in thinking that a windfarm powering a government cryptocurrency "mine" = the fabled magic money tree?
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Post by frankwellshrews on Apr 5, 2022 18:46:59 GMT 1
Am I right in thinking that a windfarm powering a government cryptocurrency "mine" = the fabled magic money tree? One of crypto's (dubious) selling points is its alleged scarcity. Supposed the UK could quickly mine 1m of the remaining bitcoin left, current fair value estimate www.barrons.com/articles/bitcoin-value-51642471539Puts bitcoin fair value at $20k but let's charitably call it $50k. Gives us $50bn (or about £35bn). About 3 or 4% of our annual budget. Can't spend it (most bitcoin networks are fecking useless), selling it will crash the market as liquidity is so low. We could do an El Salvador and use it as a reserve currency for our own "second layer" crypto token but why would we bother? El Salvador only does this because it can't borrow any money and doesn't control its own currency. We could just (and do) circulate some more pounds if we want and raise the funding to do so by selling our debt if we wanted (and we already have a pretty efficient secondary market for these, no NFTs needed). This recent forray into crypto world is just a distraction from the fact Rishi is being absolutely pilloried in the press. Now he wants some positive news to make it look like he actually has some ideas. So probably not, in other words. Interestingly though El Salvador is going to try exactly this but with a volcano instead of a windfarm. Will be interesting to see how it pans out.
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Post by frankwellshrews on May 3, 2022 13:57:26 GMT 1
Interesting call back to one of the posts from earlier on this thread about the exchange, Crypto.com, buying the naming rights to the former Staples Centre in LA. The situation moved on further with crypto companies, including crypto.com, buying star studded advertising time at half time of the SuperBowl in the US, frequently seen as the most valuable advertising time available. Historical comparisons abounded, with many pointing to the abundance of .com ads in an early 00s (2002?) SuperBowl which preceeded the bursting of the famous .com bubble and the purchase of naming rights to the Houston Astros baseball stadium by Endon in 1999, 2 years prior to the Enron scandal of 2001 (Enron Field was subsequently renamed in 2002). Interestingly, crypto.com itself has made waves in the crypto world by seemingly pulling off a classic "rug pull" on its customers; uk.sports.yahoo.com/news/crypto-com-slashes-card-rewards-093341629.htmlIf you've not been following this story, crypto.com initially offered a series of "pre-loaded" debit cards which offered a series of rewards dependent on "staking" an amount in the exchange's native crypto token, "CRO". What this looked like in practice is you had to buy an amount of CRO using USD, GBP, EUR etc and then lock that up for 6 months to access the rewards (this isn'tchump change either; top tier was at $400k, with the mid range at $40k). You then have to take your money back in CRO. In return, crypto.com offered seemingly unsustainably generous interest and cash back payable in CRO, but which users could cash out to fiat currencies. As the biggest tranche of people looking to cash out their CRO looms, crypto.com have been steadily reducing the rewards available, seemingly with the aim of crashing the value of CRO to prevent a run on the bank at the end of the staking period. Starting to look a lot like a classic con. No snarl intended but would be interested to get the views of Martin and other crypto advocates on here around this. Major blow to the credibility of crypto as a concept and with crypto.com seemingly trying to mitigate the impact of haemorrhaging cash whilst committed to a $700m, 25 year naming rights deal, it looks an awful lot like the crypto.com arena will exist about as long as Enron Field.
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Post by martinshrew on May 3, 2022 14:10:27 GMT 1
It's an interesting one, rates are always subject to change, you're constantly warned of that, it's almost as if it's inevitable. Whilst CRO has dropped, almost every other altcoin has. In the last 7 days:
CRO -26% Matic -19% Sushi -26% Mana -22% Sol -15% DOT -19%
Whilst I agree it's not a good look to change rewards/terms, I wouldn't agree it's caused a price drop. Crypto.com is a huge player, but it doesn't take long in the crypto world to disappear.
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Post by frankwellshrews on May 3, 2022 14:28:19 GMT 1
It's an interesting one, rates are always subject to change, you're constantly warned of that, it's almost as if it's inevitable. Whilst CRO has dropped, almost every other altcoin has. In the last 7 days: CRO -26% Matic -19% Sushi -26% Mana -22% Sol -15% DOT -19% Whilst I agree it's not a good look to change rewards/terms, I wouldn't agree it's caused a price drop. Crypto.com is a huge player, but it doesn't take long in the crypto world to disappear. CRO is almost certainly collapsing as people are dumping it before a mass of angry customers cashes out and crashes the market completely (which is almost certainly what CDC wants to happen to prevent them being cleaned out as their PR campaign doesn't seem to have earned them enough new deposits to keep going). The difference with crypto.com is they've made themselves highly visible with Matt Damon trying to FOMO people in to buying with their "fortune favours the brave" tagline and buying the naming rights to an iconic basketball stadium. The Matt Damon ad was even lampooned in a South Park episode. Putting it bluntly, at worst cdc looks like a Madoff style ponzi scheme, at best it's a hare brained scheme based on the idea the wider market can be endlessly manipulated based on an endless supply of new money suckered in by stellar gains. It's high profile now and if/when it collapses it will make waves far beyond the world of crypto enthusiasts. This will make news in the same way as Enron, Madoff and others did.
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Post by martinshrew on May 3, 2022 14:36:44 GMT 1
It's an interesting one, rates are always subject to change, you're constantly warned of that, it's almost as if it's inevitable. Whilst CRO has dropped, almost every other altcoin has. In the last 7 days: CRO -26% Matic -19% Sushi -26% Mana -22% Sol -15% DOT -19% Whilst I agree it's not a good look to change rewards/terms, I wouldn't agree it's caused a price drop. Crypto.com is a huge player, but it doesn't take long in the crypto world to disappear. CRO is almost certainly collapsing as people are dumping it before a mass of angry customers cashes out and crashes the market completely (which is almost certainly what CDC wants to happen to prevent them being cleaned out as their PR campaign doesn't seem to have earned them enough new deposits to keep going). The difference with crypto.com is they've made themselves highly visible with Matt Damon trying to FOMO people in to buying with their "fortune favours the brave" tagline and buying the naming rights to an iconic basketball stadium. The Matt Damon ad was even lampooned in a South Park episode. Putting it bluntly, at worst cdc looks like a Madoff style ponzi scheme, at best it's a hare brained scheme based on the idea the wider market can be endlessly manipulated based on an endless supply of new money suckered in by stellar gains. It's high profile now and if/when it collapses it will make waves far beyond the world of crypto enthusiasts. This will make news in the same way as Enron, Madoff and others did. www.coindesk.com/business/2022/05/03/cryptocom-restarts-staking-rewards-after-community-furor/Looks like they're back up in some capacity. Could have been a bad news story to drop the value of CRO temporarily, you just don't know with crypto. I'm no major investor or even regular investor, I got in early, very early on XRP in fact and I'll hold it out until I'm well into five figures. If it doesn't come off it won't have even cost me four figures.
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Post by frankwellshrews on May 3, 2022 15:20:30 GMT 1
CRO is almost certainly collapsing as people are dumping it before a mass of angry customers cashes out and crashes the market completely (which is almost certainly what CDC wants to happen to prevent them being cleaned out as their PR campaign doesn't seem to have earned them enough new deposits to keep going). The difference with crypto.com is they've made themselves highly visible with Matt Damon trying to FOMO people in to buying with their "fortune favours the brave" tagline and buying the naming rights to an iconic basketball stadium. The Matt Damon ad was even lampooned in a South Park episode. Putting it bluntly, at worst cdc looks like a Madoff style ponzi scheme, at best it's a hare brained scheme based on the idea the wider market can be endlessly manipulated based on an endless supply of new money suckered in by stellar gains. It's high profile now and if/when it collapses it will make waves far beyond the world of crypto enthusiasts. This will make news in the same way as Enron, Madoff and others did. www.coindesk.com/business/2022/05/03/cryptocom-restarts-staking-rewards-after-community-furor/Looks like they're back up in some capacity. Could have been a bad news story to drop the value of CRO temporarily, you just don't know with crypto. I'm no major investor or even regular investor, I got in early, very early on XRP in fact and I'll hold it out until I'm well into five figures. If it doesn't come off it won't have even cost me four figures. Saw this pop up just after I finished these posts 😅 still significantly worse than before but looks like they're trying the old "ask for something outrageous, then ask for what you really want" trick. Either way, references to "long term stability" and the fact they've effectively wiped out a whole tier don't bode well. Neither does the fact they're clearly willing to use media to tank the price of their customer's investments.
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Post by martinshrew on May 3, 2022 15:34:49 GMT 1
Saw this pop up just after I finished these posts 😅 still significantly worse than before but looks like they're trying the old "ask for something outrageous, then ask for what you really want" trick. Either way, references to "long term stability" and the fact they've effectively wiped out a whole tier don't bode well. Neither does the fact they're clearly willing to use media to tank the price of their customer's investments. It's certainly not good marketing I'd agree!
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Post by martinshrew on May 11, 2022 18:45:33 GMT 1
Seize the moment Frankwell, the market is bleeding. Be greedy when the rest are fearful 😉
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Post by frankwellshrews on May 11, 2022 19:14:11 GMT 1
Seize the moment Frankwell, the market is bleeding. Be greedy when the rest are fearful 😉 "Never play in a rigged casino" is a good rule for these situations.
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Post by Chief Inspector Swan on May 12, 2022 0:15:05 GMT 1
£10,000 up to £500 down in a mere 18 months.
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Post by martinshrew on May 12, 2022 8:18:23 GMT 1
£10,000 up to £500 down in a mere 18 months. You clearly know nothing of profit skimming and DCA'ing. Actually, you clearly know nothing.
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Post by frankwellshrews on May 12, 2022 9:07:35 GMT 1
Some speculation this morning that tether (USDT) has "broke the buck". Currently trading at $0.98, did briefly dip to about $0.95 earlier on.
Trouble brewing.
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Post by martinshrew on May 12, 2022 9:29:47 GMT 1
Some speculation this morning that tether (USDT) has "broke the buck". Currently trading at $0.98, did briefly dip to about $0.95 earlier on. Trouble brewing. It always does that during vicious upward or downward swings but the orders rarely complete, it's pegged. No more trouble than any other bear market, it'll be back round and we'll be talking about an $80,000 BTC again.
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Post by Pilch on May 12, 2022 10:00:52 GMT 1
Back at sub $50k today after a spectacular 13% drop in under 24 hours. Other coins suffering too. Coincidence that yesterday was tether's deadline to respond to the US Senate? There was a localised crash in India last week in response to the news the Indian government is likely to legislate against crypto. Interesting times ahead? Not sure if your head is buried in sand, or you just have something against Crypto? Have you noticed practically everything has dropped, including Apple, Microsoft and tonnes of other huge companies. It's mainly due to Omicron and negative COVID sentiment in the US. India constantly threaten to ban Crypto, it's never happened as yet. Time to go shopping, some nice dips. Greedy when others are fearful! dec 4 2021 . £37.107 may 12 2022 £21,165
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Post by zenfootball2 on May 12, 2022 11:22:36 GMT 1
Some speculation this morning that tether (USDT) has "broke the buck". Currently trading at $0.98, did briefly dip to about $0.95 earlier on. Trouble brewing. It always does that during vicious upward or downward swings but the orders rarely complete, it's pegged. No more trouble than any other bear market, it'll be back round and we'll be talking about an $80,000 BTC again. with any investment it is all about your time of life and your own personal risk profile, at the moment most investments have taken a dip , i dont have any cryptocurrency however if i was 20 to 30 i would have a % of my savings in them .
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Post by sheltonsalopian on May 12, 2022 12:43:28 GMT 1
Some speculation this morning that tether (USDT) has "broke the buck". Currently trading at $0.98, did briefly dip to about $0.95 earlier on. Trouble brewing. It always does that during vicious upward or downward swings but the orders rarely complete, it's pegged. No more trouble than any other bear market, it'll be back round and we'll be talking about an $80,000 BTC again. Which coins are you currently invested in?
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Post by martinshrew on May 12, 2022 12:58:22 GMT 1
It always does that during vicious upward or downward swings but the orders rarely complete, it's pegged. No more trouble than any other bear market, it'll be back round and we'll be talking about an $80,000 BTC again. Which coins are you currently invested in? A somewhat mixed bag: - XRP - ETH - Matic - Sushi - Mana - Sand XRP is my biggest holding.
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Post by frankwellshrews on May 12, 2022 14:48:24 GMT 1
Some speculation this morning that tether (USDT) has "broke the buck". Currently trading at $0.98, did briefly dip to about $0.95 earlier on. Trouble brewing. It always does that during vicious upward or downward swings but the orders rarely complete, it's pegged. No more trouble than any other bear market, it'll be back round and we'll be talking about an $80,000 BTC again. The difference this time is we're staring down the barrel of a global recession where people want to cash out their crypto gains (if they still have any) to weather the storm. Crypto has already failed spectacularly as an "inflation hedge" (supposedly its main function after people stopped pretending you could use it as an actual currency) and we've also seen how a loss of confidence in an algorithmic stablecoin, Terra, led to a total (near 100%) collapse of one of the top 10 cryptos by market cap, Luna, literally overnight. You're absolutely right; in the past exchanges "going down for maintenance" at convenient times (like Binance did today) has been enough to stem a run on the bank and allow tether to turn on the printing presses and reinflate the price. I don't doubt that could happen again. Problem this time is people have now seen how a stablecoin led collapse could play out and are running for the exits, ironically the very thing that will bring the whole house of cards crashing down.
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Post by martinshrew on May 12, 2022 14:52:49 GMT 1
It always does that during vicious upward or downward swings but the orders rarely complete, it's pegged. No more trouble than any other bear market, it'll be back round and we'll be talking about an $80,000 BTC again. The difference this time is we're staring down the barrel of a global recession where people want to cash out their crypto gains (if they still have any) to weather the storm. Crypto has already failed spectacularly as an "inflation hedge" (supposedly its main function after people stopped pretending you could use it as an actual currency) and we've also seen how a loss of confidence in an algorithmic stablecoin, Terra, led to a total (near 100%) collapse of one of the top 10 cryptos by market cap, Luna, literally overnight. You're absolutely right; in the past exchanges "going down for maintenance" at convenient times (like Binance did today) has been enough to stem a run on the bank and allow tether to turn on the printing presses and reinflate the price. I don't doubt that could happen again. Problem this time is people have now seen how a stablecoin led collapse could play out and are running for the exits, ironically the very thing that will bring the whole house of cards crashing down. You're mad if you think cryptocurrency won't be around for much longer, if that's what "bring the whole house of cards crashing down" means? Crypto is 100% used for everyday payments, especially facilitating cross border payments. You should look into that, it's extremely fast, cheap and better for the environment.
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Post by frankwellshrews on May 12, 2022 16:30:17 GMT 1
The difference this time is we're staring down the barrel of a global recession where people want to cash out their crypto gains (if they still have any) to weather the storm. Crypto has already failed spectacularly as an "inflation hedge" (supposedly its main function after people stopped pretending you could use it as an actual currency) and we've also seen how a loss of confidence in an algorithmic stablecoin, Terra, led to a total (near 100%) collapse of one of the top 10 cryptos by market cap, Luna, literally overnight. You're absolutely right; in the past exchanges "going down for maintenance" at convenient times (like Binance did today) has been enough to stem a run on the bank and allow tether to turn on the printing presses and reinflate the price. I don't doubt that could happen again. Problem this time is people have now seen how a stablecoin led collapse could play out and are running for the exits, ironically the very thing that will bring the whole house of cards crashing down. You're mad if you think cryptocurrency won't be around for much longer, if that's what "bring the whole house of cards crashing down" means? Crypto is 100% used for everyday payments, especially facilitating cross border payments. You should look into that, it's extremely fast, cheap and better for the environment. Like a lot of crypto bros, you misunderstand people's concerns. The "house of cards" is the ludicrously (fraudulently) inflated price of bitcoin and other cryptos and the lack of transparency in crypto markets. I really don't care if crypto continues to exist in one form or another. I'm fully aware of the claims made about xRapid but, as I've pointed out to you before, it doesn't need XRP to succeed and having an unstable, wildly fluctuating token as the medium if choice arguably hinders it (read XRP described elsewhere as trying to invest in the postal service by speculating on the price of envelopes. You'd be better off buying actual shares in Ripple but, of course, they aren't for sale). XRP arguably isn't "crypto" either. Love to here of any other cryptos which are remotely more usable as a payments system than, say, Visa.
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Post by frankwellshrews on May 15, 2022 9:24:13 GMT 1
Tether haemorrhaging $1bn a day currently, finance rates for usdt/usd currently set at North of 30% on bitfinex. Looking very precarious indeed.
Nervous, Martin? I'd be thinking about cashing out of i were you.
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Post by martinshrew on May 15, 2022 9:38:11 GMT 1
Tether haemorrhaging $1bn a day currently, finance rates for usdt/usd currently set at North of 30% on bitfinex. Looking very precarious indeed. Nervous, Martin? I'd be thinking about cashing out of i were you. Not in the slightest, it's a long term interest. It's play money to make pension money in my eyes. I don't think you understand the crypto make up fully, you seem obsessed with Tether news over anything else.
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