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  • 2 weeks later...

Anyone into NFT's?

 

I can see they have a bit of utility and longevity in allowing people to support creators and then being able to personalise your online presence (if that's your thing) but I still can't understand how you can trade them to make money without getting lucky.

 

I'm also an NFT noob but this podcast helped me understand the concept better...

 

 

Also, shout out to whoever said to cop some NuCypher (maybe casek?), you made me some money!

 

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On 11/17/2021 at 7:15 AM, poes said:

Anyone into NFT's?

 

I can see they have a bit of utility and longevity in allowing people to support creators and then being able to personalise your online presence (if that's your thing) but I still can't understand how you can trade them to make money without getting lucky.

 

I'm also an NFT noob but this podcast helped me understand the concept better...

 

 

Also, shout out to whoever said to cop some NuCypher (maybe casek?), you made me some money!

 

 

i think blockchain will be essential one day with respect to gear, loot, etc in online worlds. NFTs are an extension. 

 

that said: these worlds don't really exist yet and most people aren't there. NFTs as they currently exist are closer to a pyramid scheme than a real disruptor. their value going up is predicated on infinite demand forever; they're not art, not particularly unique, and none have the "story" behind them that some of these guys say will ascribe an ever increasing value to them. 

 

 

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  • 2 weeks later...
2 hours ago, NightmareOnElmStreet said:

What’s goin on out here in these crypto streets? Pulled out a while ago for extreme necessities. Thinking about going back in pretty heavy but thinking strictly eth. Yeah do it, who cares about btc or naw. Btc. 

How’s the best time to get back in in like the last six months. Everything been tanking lol

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  • 2 weeks later...

 

 

 

 

What it looks like when a 9 year old post on Reddit predicts the future with extreme accuracy using market cap. We've been in phase 7 since Spring 2021, and we're poised to enter phase 8 well ahead of schedule. Just a matter of lining up chips, and waiting on the financial fallout (hyperinflation) from the pandemic take hold.

 

 

Quote

This situation is not the end of the world. It is not some massive shift in the world of Bitcoin. It is not MtGox's fault. It is not the high frequency traders fault. It is not even the speculators fault. Merchant acceptance will not save us from these things.

 

We are dealing with a massive new technology that has the potential to change everything. It will change how money is transferred between countries. It could become the international standard among currency evaluation. It will change how the drug/black market operates. It will change how Governments regulate borders. This is not a speculative stock. This is not a currency useful for day-to-day trading. You cannot be a "bitcoin millionaire" without knowing that if the network got cracked, you'd be worth $0 in minutes.

 

We have a long, long way to go yet. In order for the above things to happen(and they WILL happen, even if bitcoin gets cracked or made illegal- something else will replace Bitcoin), the market size of Bitcoin needs to increase.

 

  1. $50k - Early adopters will push it up($0.01->$0.20).
  2. $1 million - People will start using it for small transactions(silk road).
  3. $50 million - Small time illegal activity will flow through it, and people will start to use it to transfer money across borders(See; Argentina post recently).
  4. $1 billion - Mid-level illegal transactions and mid-sized legal transactions will flow through it. Angel and VC Investors(200k - 5 million) will move in in increasing size will both invest and create startups(happening now; this is the step we are on. We will never go back to step 3 unless the Bitcoin network itself is cracked).
  5. $25 billion - Higher level illegal transactions(mob bosses) and larger investors(multi-million sized) start to move in. Governments start to get involved, try to regulate what they can, and create rules for the system. High net worth individuals use it for international currency transfers.
  6. $400 billion - After that, large businesses & investors move in. Becomes the de-facto standard for illegal activity. Government regulation cracks down and becomes more rigid. Some(A few) Bitcoin businesses are shut down by the Government without warning, prompting fear and anger. Small companies regularly use it for international currency transfers.
  7. $1 trillion - After that, International currency movements start to flow through it. Very large investors move in, it is talked about as if it were standardized and common. Businesses learn to follow Government rules and procedures become standardized. Large businesses use it to transfer currencies internationally.
  8. $5-20 trillion - Becomes the de-facto standard of international trade and currency evaluation, replacing the dollar as the global standard. Prices stabilize and shift only a fraction of a percent a day. Can now be used as a real currency for the first time since inception.

Do I know for sure this will happen? Of course not. But the first 4 steps were pretty clear in hindsight. And it makes sense- Why would ANYONE use the dollar for international money transfer post-Bitcoin? It depreciates, it is expensive to move, it is heavily regulated and tracked, it is subject to seizure. It is subject to the whims and mistakes of one government, who are all subject to the whims of their short-sighted voters.

 

So now how the fuck do you go from a $500 million currency to a $5 trillion currency? It isn't going to be a linear graph- that doesn't make any sense. It isn't going to be a smooth rise- Why would it? If everyone can see a nice, smooth, pretty graph going up, everyone is going to buy into that nice, smooth, pretty graph. It isn't going to be unidirectional- If the price always went up, everyone would buy into the up, and it would overshoot any and every step. It isn't going to happen quickly- Many of these steps take time to build confidence and make mistakes to learn from.

 

No, it is going to be a very painful up and down process. Because the technology has so much potential, it is going to experience explosive growth. Because it experiences explosive growth, it is going to have dramatic, painful, scary collapses. Then there will be fear. Then it will stabilize, and then it will start growing again. A few months later, it will explode again as it approaches the next big transition.

 

It takes time for Bitcoin companies to get their systems in order. It takes time for them to earn our trust and for us to weed out the scams and unreliable ones. It takes time for VC and Angel investors to evaluate and plan Bitcoin ventures. It takes time for Bitcoin to adapt to its own growth.

For those who think merchant adoption and currency status are the step we should be on, you are gravely mistaken. The only use that merchant adoption has right now is 1. Getting more people into it/increasing transactions, and 2. making a legal case for why Bitcoin shouldn't be illegal(which would slow us down by 10-25 years).

 

This is not the last big rise. This is not the last big crash. We aren't even at the bottom of this one. Until the network either gets cracked or replaced, this is going to keep moving forward. There is no going back; We've improved the Gold coin, the Dollar, and the wire transfer all at once. Hang on to your seat, and stop panicking over just another crash.

 

tl;dr: This is not the last big rise. This is not the last big crash. Stop panicking and focus on the long view.

 

 

 

Fiat is being counterfeited into worthlessness on a global scale much sooner than expected. Economy so fragile, designed around, and addicted to counterfeiting. Literally printing the value out of everyone's savings accounts, pensions, 401k's and handing it over to big banks. If you've been following it, the market relapses into severe withdraw symptoms if they even mention higher interest rates.

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On 12/9/2021 at 4:30 PM, NightmareOnElmStreet said:

Firearms and land don’t count. 

 

You don't understand how investing works if you say this.  Firearms and land have both increased in value by a ton since the faggots got all faggy in the media.  Same thing with vehicles.  You guys heard about what it's like to try to buy a car right now and how much the price is marked up on everything, used and new?

 

I own 9 cars, most of which are "desirable" vehicles in some shape or form.  I could part them out if I wanted to or sell them for more than I paid for them.

 

Holding your crypto is not an investment if your gains are unrealized.  Watching your "money" gain and lose value on some little chart doesn't do anything until you "sell".

 

I have positions in a few different stocks that are doing rather well.  I made 800% on DWAC, sold my risk out of it, so even if it goes to zero it was good game..... it won't, so everything in there is profit for me at this point.

 

I've got crypto that I've had for a very long time as well that is doing better than what I paid for it.  I have also sold the risk out of all of my crypto long ago too..... so everything past that is straight profit.

 

I participate in a small signal group chat with one of my very successful brothers, one of my very successful business owner friends, and another friend that has been mining and messing with NFTs since before most people had any clue about any of this stuff.  That's the guy I sold my USB asic miner that caused one of Raven's buddies to say I lied about having in 2011.... because they "didn't exist" back then lol.

 

My friend just set up a mineral oil cooled mining rig that will fetch ~27k a year after electricity is subtracted.  I dunno man, I fuck around with some people that have money.  The investing thing is just kinda a yolo game for me since i have a good paying job already (nearly 200k/yr in TC).

 

The gang box is plumbed now and filled with mineral oil for cooling.  I helped with the networking setup of this mining rig.... but that's probably just a lie too.

 

 

miner-setup-1.jpeg

miner-setup-2.jpeg

miner-setup-3.jpeg

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On 11/28/2021 at 11:15 PM, Elena Delle Donne said:

 

i think blockchain will be essential one day with respect to gear, loot, etc in online worlds. NFTs are an extension. 

 

that said: these worlds don't really exist yet and most people aren't there. NFTs as they currently exist are closer to a pyramid scheme than a real disruptor. their value going up is predicated on infinite demand forever; they're not art, not particularly unique, and none have the "story" behind them that some of these guys say will ascribe an ever increasing value to them. 

 

 

 

i hate it here 

 

24C7F7E2-D0B0-43DE-8AF1-B672E9FC045E.thumb.jpeg.87618682617642ed67e0f06b46c863f4.jpeg

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