02-11-2021 10:02 AM
#76
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02-11-2021 10:04 AM
#77
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02-11-2021 10:08 AM
#78
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02-11-2021 10:30 AM
#79
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I'm not buying crypto for the same reason I'm not buying Hyperloop stock... I don't see the merrit. Crypto is extra weird because the reason people want to buy it is the reason it's useless for its intended purpose. | |
Last edited by oskar; 02-11-2021 at 10:32 AM.
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02-11-2021 10:52 AM
#80
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Who's telling you to? |
02-11-2021 11:11 AM
#81
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What Keith said. The stocks have exactly as much value as people are willing to pay, that's the sole mechanism that dictates their price. What are you basing you pyramid scheme theory on? The fact that the early investors stand to benefit the most but also bear the initial risk, just like with stocks? | |
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02-11-2021 11:12 AM
#82
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https://blog.coinbase.com/a-beginner...m-46dd486ceecf |
Last edited by Keith; 02-11-2021 at 11:19 AM. | |
02-11-2021 11:18 AM
#83
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Not really. If people lose trust in the stock, its price can reach 0, no matter what assets or whatever the company has. It is obv very unlikely the value of Amazon stock is worthless tomorrow, but that likelihood isn't 0%. Of course it's far more likely that eg. bitcoin's value will be 0 tomorrow, but there's nothing fundamentally different about them. | |
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02-11-2021 12:48 PM
#84
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Last edited by Poopadoop; 02-11-2021 at 12:55 PM.
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02-11-2021 12:52 PM
#85
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02-11-2021 01:26 PM
#86
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so you've managed to discover that the price of an asset varies over time. |
02-11-2021 01:40 PM
#87
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First of all, it's important to reiterate that I'm a complete noob at this, I'm not even going to pretend to know what I'm talking about. | |
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02-11-2021 01:41 PM
#88
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keith, what are gas fees? Transaction fees? | |
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02-11-2021 01:49 PM
#89
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I think we're past the point of crypto being a "gamble". Putting your money in the bank is a "gamble". What if the system collapses? It's exactly the same risk with crypto now. Well, sort of. I mean, you have thousands of "banks" and you could invest in one that will disappear. That's a risk. But if you open a savings account, are you going to Natwest, or that new bank that you've never heard of? Investing in bitcoin long term is virtually risk free now. Other coins, there is more risk, but established coins with a purpose will be fine. Probably. | |
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02-11-2021 01:58 PM
#90
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Pretty much. Like gold. Gold isn't worth $50k+ a kilo because it's a good electrical conductor. It's worth that much because it has value as a trade asset. That's exactly the same as bitcoin. Ok you can't make wires out of bitcoin, but it's no different to gold in the sense its value is 100% based on supply and demand, like everything in a free market. It's worth what people are willing to pay for it, and that value is based on what you can trade it for. | |
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02-11-2021 02:09 PM
#91
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yeah , gas fees are the transaction fees and arent really a % but more of a flat fee and the gas fees are high at the moment because lots of transactions are required to process and to ensure your transaction is processed you have to pay more , which is the major problem that etherium is facing in that there network is congested leading to higher and higher transaction fees. |
02-11-2021 02:10 PM
#92
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Your bank savings are insured up to £85k by FSCS in the UK at least, and probably for similar amounts in other civilized countries. So no, it's not a gamble unless you put more than £85k into one bank. | |
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02-11-2021 02:12 PM
#93
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I'm silently taking advice from people who come across as crypto experts on Twitter. I took note of ADA because people were talking positively about it. The thing is, if people are bigging it up, they're invested in it too. And if these people are making money, I want to invest in the same coins as they do. It's not like I'm buying shit people are trying to sell me. They have a vested interest in sharing their "secrets", because the more people that invest in the coins they hold, the more valuable it becomes. | |
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02-11-2021 02:13 PM
#94
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02-11-2021 02:17 PM
#95
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02-11-2021 02:19 PM
#96
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02-11-2021 02:22 PM
#97
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02-11-2021 02:27 PM
#98
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Indeed. I appreciate your point here, but I'km pretty good at spotting a scam. Just search $doge in twitter and your timeline will fill up with people offering links to discord chats where they're planning pump-and-dumps. Scam as fuck. I recognised DOGE for the pump and dump scheme it is after one day of investment. It was quickly clear to me there were a multitude of better and less risky opportunities. I'm not as daft as you think I am. I read more than one tweet off someone who I am considering listening to. I go through their past tweets, take a look at the coins they were recommending a month ago, see how they've performed. This is how I determine who the experts are and who the idiots are. | |
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02-11-2021 02:29 PM
#99
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Ong ....ADA has only just started , it has the potential to explode in price as it gets adopted and used . |
02-11-2021 02:30 PM
#100
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You're implying there's skill involved because you noticed a trend and jumped on the curve. The problem is the trend is very sensitive to variance as the graph I posted showed, and past performance is a very poor predictor of future performance for these types of investments. | |
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02-11-2021 02:33 PM
#101
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I'm worth $160 now btw | |
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02-11-2021 02:36 PM
#102
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I'll worry about tax when I'm into five figures. | |
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02-11-2021 02:37 PM
#103
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Just because other cryptos aren't openly being advertised as pump-and-dumps doesn't mean someone hasn't figured out maybe it's better to do it hush-hush. "Absence of evidence is not evidence of absence." | |
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02-11-2021 02:42 PM
#104
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02-11-2021 02:45 PM
#105
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02-11-2021 02:46 PM
#106
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02-11-2021 02:51 PM
#107
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We were dangerously close to having a nice conversation then poop. Please note it was you who went there first. | |
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02-11-2021 02:54 PM
#108
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https://www.bitdegree.org/crypto/what-is-dogecoin |
02-11-2021 02:54 PM
#109
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I mean, how do you even put these posts together and find a laugh from it? | |
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02-11-2021 02:55 PM
#110
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I lost a dollar while making that post. | |
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02-11-2021 03:01 PM
#111
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02-11-2021 03:11 PM
#112
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02-11-2021 03:12 PM
#113
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02-11-2021 03:29 PM
#114
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Nice how a spammer brought back my post from the dead and got everyone talking on this. | |
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02-11-2021 03:47 PM
#115
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02-11-2021 04:13 PM
#116
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nope...i've spent time researching it before investing . |
02-11-2021 04:38 PM
#117
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You are claiming there is something to know. I'm claiming there isn't, or at best that what is to be known is dwarfed by other factors, of which I've named two so far: variance and corruption. | |
Last edited by Poopadoop; 02-11-2021 at 04:41 PM.
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02-11-2021 05:00 PM
#118
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02-11-2021 05:01 PM
#119
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02-11-2021 05:01 PM
#120
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02-11-2021 05:01 PM
#121
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02-11-2021 05:05 PM
#122
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ADA is tanking after peaking, something like 7% swings. I've tried making money in these swings but this is really difficult to do, and stressful. That's not how I want to play crypto, that's how I go bust and crazy. | |
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02-11-2021 05:08 PM
#123
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02-11-2021 05:22 PM
#124
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Ong ,you dont have a big enough roll to trade the swings, the gas fees will eat any profits you make and more likely to eat into capital. |
Last edited by Keith; 02-11-2021 at 05:29 PM. | |
02-11-2021 06:19 PM
#125
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I'd need to spend some money to mine, and it would be an ongoing cost because I'd have to pay more towards electricity. It's not really an option, at least not now. I might as well just buy coin. I can add at least £20 a month to my wallet, plus any poker winnings, so I can grow my portfolio without the need to trade. | |
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02-12-2021 01:08 AM
#126
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02-12-2021 05:03 AM
#127
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02-12-2021 05:08 AM
#128
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I think you've got this backwards. The BUY BUY BUY!!!! was 3 days ago, today it's SELL SELL SELL!!!! | |
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02-12-2021 05:17 AM
#129
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Well, where were you 3 days ago? | |
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02-12-2021 05:34 AM
#130
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02-12-2021 06:54 AM
#131
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Great! How much did you win? | |
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02-12-2021 07:02 AM
#132
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Peanuts. Only bought with 100€ to see if my prediction would be correct, indeed it was, now at 258€. Maybe buy with more confidence next time and fail miserably. | |
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02-12-2021 11:03 AM
#133
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@Ong use www.whattomine.com and it will tell you the relative payouts from mining . instead of buying £20 a month of crypto , you'd pay the leccy bill instead and payoff the card purchase. dont rely on the etherium mining profits though as eip1559 could kill off etherium mining but you'd then swap to some of the other coins. |
Last edited by Keith; 02-12-2021 at 11:36 AM. | |
02-12-2021 02:00 PM
#134
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I don't pay the leccy, I just pay rent, but if I'm going to mine I'd have to tell my landlord and pay my fair share. If it's cost efficient for me to do it, I'll look into it. Thanks for the link, taking a look next. | |
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02-12-2021 02:16 PM
#135
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imagines Ongs bedroom as a canabis grow room with light and heaters and a sleeping bag in the corner ......all for personal use officer .. |
Last edited by Keith; 02-12-2021 at 02:20 PM. | |
02-12-2021 02:52 PM
#136
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I think mining is something I'm going to have to research more. I might talk to my landlord about it, pool our funds to get the right equipment. He understands computers better than I do too. | |
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02-12-2021 02:54 PM
#137
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02-12-2021 08:24 PM
#138
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I'm playing poker while in the background I have $ADA prices and graphs. When I see red bars, I run bad at the table. When I see green bars, I run good. We're still in coincidence territory here, but maybe just maybe there's something weird going on here. | |
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02-12-2021 11:39 PM
#139
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Pokerstars fucked my account up and I can't log in. | |
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02-13-2021 12:44 AM
#140
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Just catching up | |
02-13-2021 09:29 AM
#141
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I don't think bitcoin has a serious rival for market dominance for a long time. I doubt BTC will be used by the masses for normal purchases, but it will be used for investment and for trading. Only when bitcoin starts to max out will other coins begin to catch up, and I think BTC has a very long way to go yet. | |
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02-13-2021 12:40 PM
#142
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the huge thing about bitcoin is that the wider use it generally has around the world , the potential for alt coins explodes much more as people see and value bitcoin as an asset there wariness of cypto as a whole will reduce and then people will start to explore the potential of the altcoins. While its the dominant player at the moment , bitcoin could then be surpassed by altcoins with real world uses that could then be used to generate wealth paid in those coins. Bitcoin lacks that advantage with a fixed number of coins . |
02-13-2021 12:54 PM
#143
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Ong, you seem fixated on the value of a single coin, but this doesn't really matter. Just move the decimal point. | |
02-13-2021 12:59 PM
#144
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Yeah, I agree, although I'd put a caveat with the framing. In terms of speculative investing today, it makes sense to think of BTC and ETH/other alts as rivals, with the one with the highest market cap/value per coin at some fixed point in the future being the "winner," but functionally I think BTC simply fills a different role from ETH and many other alt coins. | |
02-13-2021 01:28 PM
#145
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02-13-2021 01:51 PM
#146
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As Boost said, I doubt this will be an issue. I've already once switched over from one currency to euro, and it didn't take long to start thinking about prices in euro without a need for conversion. Same with spending any extended amount of time abroad, you quickly get used to the local currency. People will adapt quickly. | |
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02-13-2021 05:34 PM
#147
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https://www.youtube.com/watch?v=ZGd6O79_MOc |
Last edited by Keith; 02-13-2021 at 06:07 PM. | |
02-16-2021 07:13 AM
#148
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02-16-2021 12:42 PM
#149
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your uncle will be dead soon. | |
02-16-2021 04:11 PM
#150
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banana? | |
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