Monitoring the Crypto Bubble

Where do you think we are in the crypto bubble?

  • Total voters
    147
Stoic Phoenix said:
Especially with one of em having their location as a direct quote of what I said to that galt dickbag once well over a year ago
They may assume any moniker they like...the gibbering poo flinging monkeys remain gibbering ignorant monkeys who refuse to open their minds to alternates to their head in the sand narrative of btc is tulip...btc not real monies, look how much drop....yawn.
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You do realise that ignoring obvious flaws these digit currencies have and dismissing as fud, does qaulify as ignorance also

Dont know the john golt reference thing, not sure where that is directed at.
 
BuggedOut said:
All currencies are manipulated. In the grand scheme of things, Bitcoin still has a tiny market cap - like a small 3rd world country. Those countries can have pretty volatile and heavily manipulated currencies too....

It's like meeting someone like Einstein when they are 3 years old and writing them off because they throw a tantrum and decide they could never amount to anything important.

Besides, you are having the debate from last decade. Currency is just ONE application for blockchain. Blockchain tech can do a lot MORE than just currency, but if you want to fixate on currency, start looking at Stablecoins instead. Some of them are very stable, have high speed and low enough transaction fees to function as currency. Bitcoin has evolved into more of a high-value liquid digital asset that can be traded for things, but you'd never buy a coffee or a pizza with it again.

I'm not trying to talk down to you as you seem like an intelligent guy. But you really should do some research into the technology and its growing uses so that you can make some more educated comments.
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I have been a crypto beleiver once before, then the flaws became to obvious to ignore, i then sat on the fence for some time, now im leaving that fence.
The assumptions are wrong, Shiney tried that one on me once before

I really gotta get going, i do enjoy a good debate. So till next time, put it on pause
 
I'm not saying there aren't flaws. I first came across Bitcoin in 2015 and (ironically) one of the reasons why I didn't think it'd go anywhere was because of the energy use! Does that make me 6 years earlier than Elon Musk? Maybe.

But when I came for another look in early 2017 to find out what this Ethereum thing was about I realized that there was a whole ECOSYSTEM being built where other cryptos were addressing the flaws.

Why don't you tell me the flaws you see, and I'll point you at the cryptos that are addressing them? This is not just about Bitcoin. Think of Bitcoin as just the first. The poster child. The early market leader. The one that the mainstream and the newbies tend to fixate on. There is a lot more going on here....
 
BuggedOut said:
....and around and around in circles we go.

We've seen all these types of shenanigan's before. The FUD is timed....just like the Hype and the newbies get sucked in every time. It's almost Kabuki theatre at this point.
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Many/most folks here probably already fully realize this (one hopes) :cool: But its a wonderful thing to perform on the stage, play your part, utter your lines, and the audience loves the appearance of new actors :) All the world is a stage (Shakespeare), and lets pity those who don't know it. And God forbid any theatre where the stage players never change - how boring. [But Narcissus would surely disagree.] However, if there are some actors here who possess all wisdom and understanding on crypto, then lets record their infallible wisdom for the benefit of all posterity :) A foundation series of "crypto axioms" would be a nice start.

PS: Does anyone here know Satoshi? If so, can you please ask him for the first and most important axiom? We can honour him, by calling it "Craig's first axiom."
 
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Late Attestations? Seriously? Of the #8 crypto?

Hilarious FUD.

USDC is issued by regulated financial institutions. It's got to be 1000% less likely to go belly up than Tether and we've been brushing off far more credible Tether FUD for years.
 
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DLTs have certainly moved beyond the initial invention ie a decentralised currency that solves the problem of double spending so to keep harping on about that is as @BuggedOut argues “so last decade”.

Those claiming to really understand it would know that it offers a completely new decentralised financial world.

Name any financial product currently under the control of a legacy institution and there’ll be a crypto project working on it attempting to make it a better system.
 
Do the math.
If 80% of Bitcoins value is propped up by Tether, and Tether is only backed to 2.9% by USD, what is the true value of Bitcoin?
At $60k USD per Bitcoin, I have a true market value of a measly $350.

That's some crazy mark up for a slice of fiat wrapped up in a distributed ledger!
 
The disclosure statement states that 75.85% of its reserves are backed by cash or cash equivalents in commercial paper, fiduciary deposits, and bonds. The rest is held in secured loans (12.55%), bonds and commodities (9.96%), and other investments, including digital assets (1.64%).

These financial instruments are largely short-term debts issued by large companies, governments, or banks. The reserves also comprise gold to back its gold-backed stablecoin XAUT.
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