What does AS think about cryptocurrency?

Discussion in 'Lounge' started by Cav Emp, Mar 1, 2018.

  1. Cav Emp

    Cav Emp Audiosexual

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    From what I gather, block chain technology is pretty unique and special. After the major boom and subsequent correction, a lot of the mainstream/casual hype around cryptocurrency has died down, but I'm curious to see what some of you guys think about it. There are a lot guys here who really know what time it is when it comes to technology. In your opinion, is it going to fade into obscurity? Will it start silently climbing in value again until the next big influx and correction? Will it eventually gain wider acceptance? The past few months have certainly been an anomaly, sure, but is there any good reason to believe it won't continue slowly appreciating like it has for the last decade, as if the past few months had never happened?
     
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  3. Mykal

    Mykal AudioP2P

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    I'm too broke to even think about cryptocurrency, if it's not in my wallet ,It's not real to me
     
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  4. Blorg

    Blorg Producer

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    It's a fun solution to a crypto riddle, if you're into math/cryptography. A neat troll on finance -- made some question their understanding of money, trust & value. Made DNMs possible.
    Extremely attractive to gamblers, get-rich-quick losers, batshit-crazy "gubermint j00z did 911 with thermite!!!1!" paranoiacs & scam artists of all stripes.
     
  5. Cav Emp

    Cav Emp Audiosexual

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    Have we met in person? :rofl:
     
  6. Sylenth.Will.Fall

    Sylenth.Will.Fall Audiosexual

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    My take on Crypto-currency :-

    Whether you do stocks, bonds,bet on the Gee Gees, or invest in Crypto-Currency, there is a huge element of risk involved, so ONLY spend on it what you can afford to lose.
     
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  7. Cryptocurrency is a currency like all others these days, a medium of exchange, and for those with the largest of pockets and the smarts, a way to control and sway power. It is no longer a symbol to represent value stored in the form of commodities (like in ancient Sumer's grain stored in temples) and is worth only what others think that it is worth which can vary from moment to moment as seen in currency exchanges around the world. One day you might be able to buy a loaf of bread for a buck, and then the next need to shell out 10X that amount if the currency of your country losses value like in Venezuela. For most of us it is a sucker's bet that an investment in cryptocurrencies will reap a windfall or even let you break even at this late point after the craziness of the recent past, I believe.
     
  8. Iodice

    Iodice Member

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    Buy and hold.
    Do not buy more than you can loose.
     
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  9. saltwater

    saltwater Guest

    cryptocurrency is just one of the infinite applications for Blockchain Technology,
    to me this is by far the biggest invention of all time.
    i have no doubt this will replace everything

    I'm not saying buy bitcoin or buy crypto, i say understand what this is all about,
    that is important because this is changing everything now.


    but first things first:

    there is a lot of bad information and all kinds of rip-offs around! blockchain,
    where a lot of people lost and loose a lot of money.
    multi level marketing, network marketing, whatever they call it, 90% is a ripoff similar to Bitcoinvest.
    just like 90% of the coins are rip-offs as well.

    be very, very cautious with investments that promise anything, stay away from all this gigantic pile of sh!t
    then your fine and can enjoy be part of this wonderful revolution.

    but this is not just about making money, understanding blockchain technology is an awesome experience


    A trusted person for everything about Bitcoin and Blockchain Technology is

    Andreas M. Antonopoulos (the so called Bitcoin Jesus)

    a coder from Greece that holds some heart moving lectures about all this,
    he is traveling around the world talking about bitcoin for years now
    this is not about investing, just the technology.
    he is simply the best and most trustable source on everything about Bitcoin in my eyes
    i can highly recommend his channel:

    https://www.youtube.com/user/aantonop

    a good one to start is:


    a real modern prophet from Greece that teaches the world Democracy 2.0, again them lol :P

    you will understand how specifically cryptocurrency works after this one here:
    very well explained and good animated to understand this easy and fast

     
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  10. saltwater

    saltwater Guest

    Blockchain technology for "us" here.
    fair pay / free listening

    https://musicoin.org


    i don't know if its gonna be music coin or some other one but one of them surely will mark the end of Spotify, Apple music, Amazon music, whatever centralized Music or content Service.
    They simply have no chance to survive against a "perfect world" for musicians and listeners.
     
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  11. saltwater

    saltwater Guest

    i have to add this guy because he is just unbelievable and something to not miss if your interested in this area.

    ever heard about etherium ?

    thats the second biggest coin after bitcoin but its way more than just a currency.

    this genius had the idea to add a programming language on Blockchain and that is what Etherium is.
    it can do literally everything and the creator is just some next level genius, haha.

    Vitalik Buterin, a russian coder and known for not being "human" ;)

    very entertaining to listen to him:

     
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  12. Satai

    Satai Rock Star

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    It's a gamble. If nothing really bad happens to crypto, then it will naturally dominate going forward and therefore bring pretty amazing returns to those who go on the bandwagon early. The ideas in it are just that good, people will adopt the ease and freedom as naturally as they did smartphones. We're in the very early stages right now.

    Something really bad could easily happen though. There are many ways that even established projects like Bitcoin with a large market share could fail and see their value suddenly plummet to zero. An unexpected computing breakthrough could boost available CPU power to such a degree that it invalidates Bitcoin's security, and rogue actors start being able to meddle with the blockchain to inject fake transactions. Some people are worried because this is only one of the manipulations that crypto projects could be subject to if governments and the financial superstructure above them decide they need to manipulate crypto. People in the know think it wouldn't be too hard for the current financial superstructure to unbalance and undermine any current crypto project, if they wanted to.

    If nothing bad happens, it's an idea that has got all kinds of bright futures ahead of it. People who gambled and invested when BTC was 0.001c USD have seen incredible gains, but these will likely pale into insignificance compared to what the true potential is when crypto is the worldwide de facto standard hold of value and USD is in the shitter.

    Do you want to gamble and keep your eyes open as you shift from altcoin to altcoin to ride the gains? This will likely be an exciting and profitable ride for many.
     
  13. AllanLisa

    AllanLisa Newbie

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    The main strength of a cryptocurrency is its usefulness. The more useful a cryptocurrency is, the more likely it is to be of interest to as many users as possible for a long time. Once the hype around a cryptocurrency has subsided, users will only continue to use it if it meets their real needs. Cryptocurrencies that do not meet any of these needs will naturally go down because they are not viable: the market is already filled with almost 5,000 cryptocurrencies - that's too much! There is crypto signaling - these are instructions to buy and sell cryptocurrency assets. Signals are distributed in a variety of ways. Professional traders usually provide them to private investors, and crypto signals are worth paying attention to.
     
    Last edited: Apr 9, 2022
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  14. rage

    rage Member

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    Just another thing I can sit back and look at and say "well, these youtube jerk offs are going from trust fund accounts to being multi-millionaires, and I'm still trying to figure out when carrots will be on sale, cause Im an idiot."
     
  15. Voo

    Voo Platinum Record

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    Started crypto with $600 and made very close to 7k so far in one year (early june 2021 is when I started)

    The biggest downfall of crypto is that "whales" can manipulate the price of bitcoin and cause wild fluctuations in the price. Its very unsettling also with rumor's that just kill the market in a matter of hours for no valid reason. I equate it to the toilet paper run during the pandemic.

    But in general crypto is here to stay, no dips and turns surprise me anymore.. For me I've learned to look the other way on
    sundays.. (biggest dips)

    I have 3k in Ethereum and I'm thinking that's going to turn into 50k in 6-7 years.. I'm an Optimist
     
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  16. Kuuhaku

    Kuuhaku Platinum Record

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    I have two approaches with crypto:

    1- Invest a small ammount (like $100)
    Sell when you have a profit, then wait it fall, then buy it, then wait it go up again, then sell it
    already made a couple bucks doing this

    2- Buy a coin that you believe that will be way more expensive in the future and hold it for years, then sell with for 3000% of the price you bought it
     
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  17. Molly_Lee

    Molly_Lee Kapellmeister

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    Blockchain is excellent, putting my hard earned money into it - not so brave. Especially as interest rates are about to go up, up and up. You may see investors moving out of crypto. :dunno:
     
  18. wuzzle

    wuzzle Platinum Record

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  19. RobertoCavally

    RobertoCavally Platinum Record

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    I was about to "invest" 1k in BTC when it was like 200. Everyone around, esp my family, started yelling at me that I'm crazy and that only drug dealers, criminals etc were using BTC (main argument) and of that I'd loose that 1k..

    So, here I am, 8y later ...without that 200k+ I'd have, if I didn't listen to them. Great! :wink: :facepalm:

    Btw, a couple of years ago I talked to a guy that at that time, around 2013-14, worked for a bank and he told me they were instructed to spread the word how bad this thing is and that it's only used for drugs, guns etc.. yp, they succeeded.

    @Voo, @Kuuhaku ..where do you guys trade?
     
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  20. PartyShit

    PartyShit Producer

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    If you ever start to put money into one of the exchanges
    I would say buy right now into CRO right now the price is going down my dream entry price would be $0.33
    but I know it's not going to happen (it's strong and stable between $0.43 and $0.52 range)
    CRO is the crypto.com app's own coin I know people who bought in november 2021 because of the Matt Damon push and lost money because they bought the hype and the top at almost $1.
    Right now CRO is at it's best position they will be the one and only sponsor of the FIFA World Cup in november 2022 so I highly recommend to buy before and hold or do "recurring buy" orders weekly or monthly you don't have to put in thousands put like $50 a week or a month CRO is going to be huge before 2025 just jump in buy & collect (hold) as many CRO tokens as you can
    They are soon releasing their on Cronos Mainnet Chain so more and more developers will come to the Cronos Ecosystem which will bring volume and buying pressure
    I'm telling everyone right now CRO is a huge opportunity forget Bitcoin, Ethereum (they are gone you not gonna double or 3x your money with them)
    If you have small money and you can afford to put $50 to $100 buying CRO, CRO has a big potential from going from $0.44 to $3 easily just take a look at what Binance has done
    BNB was the same as CRO right now trading at like $0.3xxx than released their own chain "Smart Chain" developers came in big money came in and BNB went from $0.3 to like $512 in 2 years time I think that was the all time high
    Imagine buying in right now to CRO buy as much as you can afford and in 2024 or 2025 you might end up 2-300x your money.
    I'm not joking and ofcourse along the way take profits as the price goes up until you take out your initial money than just let it ride up and up so at some point you will no longer have to buy anymore you'll see and just watch it grow without stress because you already took your initial money out
    Don't be scared and don't withdraw your money because you have to pay taxes once it hits the money & profits you want to take than cashout just only once and pay tax only 1 time do not make hundreds of withdrawals into your bank account.
    When I say take profits it means inside the crypto.com app just swap a certain amount into a stable coin (like USDT or USDC...etc) and let it sit do not send to your bank account because of taxes you have to report as Capital Gain Tax if you make bigger profits.
     
  21. Kuuhaku

    Kuuhaku Platinum Record

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    Foxbit and Coinbase
     
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