Lots of ignorance here with (DASH/ETH): don't buy on hysteria - buy on science/cryptography

Discussion in 'Digital Currencies' started by Ilikemetals, May 4, 2017.

  1. Ilikemetals

    Ilikemetals Member

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    Hi guys,

    I see a lot of people are invested in DASH and ETHEREUM and I will tell you that they have done so based on "forum posts" or "hype" or on the whims of price rises and the advice of anons on the internet that have zero clue about the underlying cryptography/science that actually underpins the technology behind these investment vehicles.

    ETHEREUM is a banker issued "app" platform (see the pyramid logo) that will be moving into a Proof of stake (POS) algorhythm and is therefore a closed entropy energy system. It is a closed ecosystem just like what we are used to with the banking system right now. The reason ETH is doing well is because the bankers want to funnel people into a closed entropy system and direct money away from the cryptography that threatens their business.

    Holding ETH is no different than parking your funds in a bank - your transactions are trackable, centralized, managed by bankers, and POS DOES NOT WORK - this has been proven! Only purchase crypto with Proof of Work (POW) algorhythms. Not only that, but the supply is highly inflationary and there is absolutely no productivity gains from a centralized app platform pretending to be decentralized that saves information on everynode/account - that is very expensive energy wise and is a shitty way of doing something that could be done better on Windows/android/IOS. IT DOES NOT ADD PRODUCTIVITY THEREFORE THERE IS NO UTILITY!

    You have to remember why people got into cypto in the first place - to get out of those old closed systems that trapped them and robbed them, yet the dumb sheeple fall for the same tricks again and slide on right back into the bankers hands, it's truly embarassing.

    DASH was released in the dodgiest manner and is being run by dodgy people. It came out under a huge premine to enrich the small few that were in on this scam to begin with. Why would you support a product that is released in such a manner when there are other crypto that were released with equality and egalitarianism in mind? What is crypto about, really ask yourself that question and think about it long and hard.

    Not only that, but its privacy system is bunk as well - you need to understand the way the algo/crypto works to know this - if its privacy is of such low quality then where is its utility as an investment vehicle? Why not just hold BTC?

    Here is a link comparing all privacy-based cryptos:

    https://moneroforcash.com/monero-vs-dash-vs-zcash-vs-bitcoinmixers.php

    Bitcoin and Monero are the two best alternatives to PM's as they are both trustless Peer2Peer savings vehicles based upon vetted and objective peer-reviewed cryptographic/mathematics. You can find plenty of papers that not only prove my case, but demonstrate why the other alternatives are junk

    Stick to the science. If you're too lazy to do so and base your opinions on what all the random anon on the internet say, then don't complain when these fail further down the track. Don't forget that a lot of companies in the world rise, only to fall down again and fail due to underlying issues in their tech/business management. A rise in the price now DOES NOT indicate future success of the product. Only the technology itself can enure that.

    For example let's look at Tesla, another failing product based on hype, pumped by banker equity. I will link you two articles and leave it at that:

    May 3 2017 -
    http://www.zerohedge.com/news/2017-...ion-loses-13000-car-made-ahead-model-3-launch

    May 4 2017 -
    http://www.zerohedge.com/news/2017-...t-suddenly-worried-about-auto-cannibalization



    Thanks guys
     
  2. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

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    Ease up there fella. Many here are actively researching into the space so throwing around accusations of ignorance is a bit obnoxious.

    Your most valid point is that Bitcoin and Monero are peer-reviewed and others are not. That doesn't mean Ethereum isn't a good investment (regardless of banker interest) and a platform for development, or that DASH isn't innovating new solutions to scalability and transaction speed/privacy (yes, I know Monero is better than DASH for privacy).

    They may all fail, including Bitcoin and Monero. It's a risky and evolving space so that comes with the turf. Anyone investing in cryptos thinking they're on a sure thing is a damned fool.
     
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  3. Ilikemetals

    Ilikemetals Member

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    Apologies my friend. I'm young and getting rich so the power goes to my head.

    They won't fail because they're mathematically/cryptographically sound. Many many many people much smarter than I have gone over these two cryptos meticulously with a fine-toothed comb.

    People NEED alternatives, and they NEED Yield in a collapsing global economy. Mathematically sound and objective automatons, guided by maths and not the corrupt minds of the psycopathic Homo Sapiens that run the banks.

    There's always risk, so conduct your due diligance and do a risk analysis. These are low risk, relative to the other assetts you can own (property, stocks, bonds, currency) which amount to a eye-watering 550+ trillion in total global debt obligations that can not and will not be paid back (these bubbles being all close to bursting) with the FED's agenda to continue raising rates into 2017, 2018, 2019 and beyond (next hike is JUNE). Think of the risk profile in regrds to the stupendous gains of what is currently the best performing assett class on the planet.

    Cheers
     
  4. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

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    No problem. You make some good points so it's good to have you involved in the discussion here.

    One things I have found in my travels of the crypto-sphere recently, however, is that everyone seems to be a zealot for whatever crypto(s) is their favorite (or they have a vested interest in). No different from the rest of the cynical world, I guess, is that it can be hard work getting through the bias and deception of others to make up your own mind what is truth.

    I, for one, am working hard to try and figure that out :)
     
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  5. leo25

    leo25 Well-Known Member Silver Stacker

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    from what I've seen most people that get into cryptocurrency do so only because the price is going up and want to make a quick buck. VERY few do it as an alternative to the banking system.

    Most people don't care if the system is sound and don't care if they have to disclose all kinds of info to the exchange in order to buy.
    Look at Coinbase for example, it was founded and developed by the banking guys.
     
  6. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

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    I think it's more about being outside the system. Both hard assets and cryptos are independent of the super-connected financial system that many here on SS are concerned about. Seems logical to me that goldbugs would be interested in cryptos. As strange as it sounds they are both more like "sound money" than central bank manipulated fiat.

    I personally think PMs are money of the past and cryptos are money of the future. When the money of the now (fiat) fails many will need to choose between reverting to the past (gold standards?) or evolving to the future of decentralised money.
     
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  7. ParanoidAndroid

    ParanoidAndroid Well-Known Member

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    I have to agree with everything Buggedout said.

    I've been leaning towards this way of thinking for a while now and the more it's adopted and becomes main stream, the more it will be looked at this way.

    At a guess I'd say that should we head into another GFC type crisis then crypto will become king, and more specifically I think the bulk of it will pour into Bitcoin.

    Just my opinion based on observation.
     
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  8. Golightly

    Golightly Well-Known Member Silver Stacker

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    It's an easily accessible 24 hour 7 day market that the average Joe can get into without the minimum 5k entry and huge fees or regular trading. Plus the money you can make (or lose) is insane. hopefully not losing insane amounts in a yuge bull market obviously.
    Hard assets are an investment not just for prepping for an apocalyptic event but also people hoping something will happen that means they don't have to work their shitty jobs and struggling forever. I suppose presently BTC and co offer more likely hood of that happening. like ETH has gone from $2 to $100 USD in under 2 years....
     
  9. Golightly

    Golightly Well-Known Member Silver Stacker

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    On OP...

    Totally agree, but that is where you can currently make the money to be able to be more morally selective in your long term crypto choices.;)
     
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  10. camylopez

    camylopez Member Silver Stacker

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    agreed with op, eth is a centralized scamcoin through and through



    sadly this is true, but you will never find many people invested in cryptos to admit it.
    cripto is not digital gold, it is a gamble. price is based on the pumps and dumps created by early adopter who have enough to manipulate to their benifit, everyone else just rides them and gets excited with their profits and pull more in.

    in the last two years, im at a loss of just under 200 btc investing in people who thought they can play the exchanges and have lost. I have seen many more try to get into the industry in various ways and fallen prey to the sharks that are out there to scam them. (i on the other hand, am still solvent despite investing in others, as i never gambled my coins on the whims and hype of articles)

    all these coins should be used for their purpose, currency.
     
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  11. ParanoidAndroid

    ParanoidAndroid Well-Known Member

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    But what if you just held your 200 BC like people hold their metals. Where would you be now?
     
  12. camylopez

    camylopez Member Silver Stacker

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    its still nothing more than a gamble.
    it has not been the market driving the price, but bots pumping the exchanges.
    have a look at the mempool, no one can move their coins, in such a scenario it should have crashed already
     
  13. camylopez

    camylopez Member Silver Stacker

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    at the moment, btc is both pumping in price, AND losing market share.
    cant go on forever.
     
  14. ParanoidAndroid

    ParanoidAndroid Well-Known Member

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    That didn't answer ths question. How much more wealth would you hold now if you cashed in your 200 BC today?

    Life is a gamble, particularly when investing. If you had been an early adopter gambler for a measly few hundred you'd be a millionaire today. Small outlay for life changin massive return. Providing you held..
     
  15. camylopez

    camylopez Member Silver Stacker

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    your missing my point.
    makes no difference if you invest in btc 5 years ago, or yesterday, there is no guarantee of value.
    just remember all the hundreds of thousands lost in the collapse of mt gox, can happen tomorow again and in fact anytime it can happen.

    real value should be usage based, but the usage is not whats driving the prices

    also, yes I did use btc back in 2010, and yes they were worthless so there was no incentive to hold them for increased value.
    They werent created as a store of value, they were created as a means of transferring wealth, with a deflationary aspect to it so that people do not lose their purchasing power. When the correction happens, and it goes back to 1k a coin, all the holders have lost their purchasing power. NOT what they were created for.
     
  16. camylopez

    camylopez Member Silver Stacker

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    all this pump and dump is driving the people who should be using it away, as they dont know if the 100 in btc they just spent will be worth 80 tomorow
     
  17. camylopez

    camylopez Member Silver Stacker

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    many of these people who owe me btc cant pay because its gone from 300 per coin to such a huge price.
    these high prices are putting people who use it into huge debts that become impossible to pay.
    I dream of $300 btc prices again
     
  18. ParanoidAndroid

    ParanoidAndroid Well-Known Member

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    Is anything guaranteed as a store of value?

    Cold storage made mt gox a non event for holders, only traders. Which does make it an issue if we're talking about a store of wealth.

    Anyway, I know of people that purchased BC for their intended purpose and now live in a mortgage free house as a result. Every day we make decisions that affect our lives. Either way by luck or insight, some made different decisions and their lives have been changed for it.

    It's just my opinion that should there be a crypto boom and bust, BC will most likely be the last crypto standing and holding its value.
     
  19. camylopez

    camylopez Member Silver Stacker

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    I can point you to people who own houses as a result of btc, and owe it all to investors they defaulted on.
    there are many people deeply in debt and some owing up to 500btc.
    its not all the rosy headlines you see in articles.
     
  20. ParanoidAndroid

    ParanoidAndroid Well-Known Member

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    I don't actually see or read adticles, just go by what I've witnessed.

    Perhaps your issue was that the payment was in BC rather than real value equivalent. What were you selling? I've bought lots of stuff online for virtually free as a result of people selling in USD but accepting BC as payment.

    Anyway, this will just go round in circles. People make and lose money every day. My opinion is that medium term BC holders will make money.

    That's all
     
    Last edited: May 6, 2017

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