Jump to content
Search In
  • More options...
Find results that contain...
Find results in...

Cryptocurrency


CLICKCLACKONER
 Share

Recommended Posts

This forum is supported by the 12ozProphet Shop, so go buy a shirt and help support!
This forum is brought to you by the 12ozProphet Shop.
This forum is brought to you by the 12oz Shop.

This is the Chapwood Index, it broke down the effects of inflation by studying the price increases locally across the US. We used to be at around 2.5% back in the day but since 9/11, then the 2008 crisis we've been on war time levels of inflation. 10% is bordering 3rd world levels of inflation.

 

This index had to be found via an internet archive because it's been removed.

https://web.archive.org/web/20210125150317/https://chapwoodindex.com/

 

1477151449_ScreenShot2021-02-11at12_27_06PM.thumb.png.295dd39357db31f6ec277565cfb8d70b.png

 

Last year we jumped from 12.7% inflation over the entire previous year in 2019, to 11.9% for just the first half of 2020. Basically they were on track to doubling the previous year when they suddenly stopped publishing this index for some reason (go figure)... It's estimated after this new "stimulus package" (socialism for the rich) they'll inject an additional 1.9 Trillion dollars, increasing the money supply by 40% since the pandemic's start.

 

Many consumer items haven't gone up by 20% in price (yet). But they've been able to keep worthless stocks selling at all time highs. Watch for price increases in other areas outside of crypto going forward. I see nothing wrong if the government wanted to help struggling tax payers stay afloat, but that's not what's going on. Just like under Socialism/Communism, the government doesn't treat all equally, and the already wealthy people closest to them get 80% of that stimulus. I mean if you were in charge who you going to hook up, that dude who donated a quarter mill to your super pac, or that lady that basically had no choice anyway and pretty much had to vote for you? Sounds crazy right, except this isn't some conspiracy theory, this is our reality.

 

All this inflation, and massive institutional investment during the halvening means we could be in a bull market until January 2022. Watch what happens when more stimmy checks drop. The only solid investments this year look like physical property, and crypto.

 

Satoshi Nakimoto invented Bitcoin for this very reason.

 

image.thumb.png.1933080e3528267d2d35645d253d8bcf.png

 

The raw hex of this block cryptographically translates to:

 

"the times 03/jan/2009 chancellor on brink of second bailouts for banks"

 

When people say "Blockchain" it's an accurate description of bitcoin's ledger system, because it's basically a chain of blocks (one every 10 minutes) locked together sequentially, recording every bitcoin transaction that took place over the last 10 minutes in the body of each block.

 

Anyway, the first block couldn't hold any transactions yet, because there was no bitcoin to transact with before the first bitcoin block was mined. Because of the way Bitcoin's block mining software works, you have to put something in place of transactions for technical reasons. Satoshi decided to put a news headline in the first block. It both proved the block was mined after the headline was published time stamping it. It also serves a more subtle purpose, it's a statement about Satoshi's take on economic policy (Socialism for the rich) which he condemns, and is the motivation behind why he invented Bitcoin.

 

Who do you think does more damage to this system? Someone throwing a brick through a Starbuck's window, or the people in this thread working together to take away their power to legally counterfeit the money supply, and enrich themselves in the process, while most people wonder why it feels like they earn less and less each year. An intentionally economically illiterate public thinks minimum wage increases are the answer. Nope, alls you need is an even playing field, and sound money to thrive.

  • Like 2
  • Props 1
Link to comment
Share on other sites

Hey Guize,  one of my customers had asked me this morning if I knew anything about crypto-currencies .  I basically said, go to 12ozProphet and got to the forum.  Sign up!  As this is the best advice I can give at this time on cryptos.  However,  in the mean time I told him I would ask the Oontz community what are y'alls thoughts on investing in DODGE COIN?  They started with 100 USD and plan on sitting on it for the next fiz-if (that's 1, 2, 3, 4, FIVE!) years and see what gain they produce.  

Anyhow, so the question is, is Dodge Coin Shitcoin? 

 

**edit** 

 

This guy may create a 12Oz profile.  I'll get his screen name if he does sign up so we know who he is and I can vouch for him.  

 

Edited by ndv
Link to comment
Share on other sites

@ndvthe way I understand it, there is no cap on how many doge will be made. So infinite doge throws supply/demand out the window. If they were interested in using it to transfer funds to someone in another state or country that’s one thing, but just to keep as a store of value... Idk. Better options out there for that. The other guys in here may have more to add. 

  • Like 1
Link to comment
Share on other sites

1 hour ago, abrasivesaint said:

Ahhh, this makes sense now. I was wondering what happened. I got rid of Brave for a little bit. 

It’s still in place on laptop/desktop just not mobile. There is a way to xfer your existing BAT from mobile to laptop/desktop but I think since you uninstalled you’re SOL. 

  • Like 1
Link to comment
Share on other sites

6 hours ago, ndv said:

Hey Guize,  one of my customers had asked me this morning if I knew anything about crypto-currencies .  I basically said, go to 12ozProphet and got to the forum.  Sign up!  As this is the best advice I can give at this time on cryptos.  However,  in the mean time I told him I would ask the Oontz community what are y'alls thoughts on investing in DODGE COIN?  They started with 100 USD and plan on sitting on it for the next fiz-if (that's 1, 2, 3, 4, FIVE!) years and see what gain they produce.  

Anyhow, so the question is, is Dodge Coin Shitcoin? 

 

**edit** 

 

This guy may create a 12Oz profile.  I'll get his screen name if he does sign up so we know who he is and I can vouch for him.  

 

 

 

Dogecoin is a shitcoin. It was first created as a joke, and an endless supply of new doge are created every day making it virtually impossible to sustain value over 1 penny. How it's doing so no no idea, because there are over 128 billion doge in existence.  By comparison only 21 million bitcoin will ever be minted total, and there are only 114 million ETH in existence right now.

  • Like 1
Link to comment
Share on other sites

6 hours ago, KILZ FILLZ said:

It’s still in place on laptop/desktop just not mobile. There is a way to xfer your existing BAT from mobile to laptop/desktop but I think since you uninstalled you’re SOL. 


Good to know, when did they make that move with IOS? I think i was SOL back then and it was partially why I deleted it. 

Link to comment
Share on other sites

1 hour ago, abrasivesaint said:

What’s Litecoin’s deal? Shit seems to be steady rising lately. 
 

Considering doing the Mercer approach and taking some of that little 401k i have an dumping into cryptos.. don’t worry i won’t blame you if shit goes south. 

 

Cliche "Not financial advice"  but IMO Litecoin probably isn't a good look for a long term investment. It's usually in demand during bull runs like this because of high demand, thus high transaction fees on bitcoin network. Most people will use it to move funds between exchanges, or from an exchange into your bitpay card to spend.

 

 

On it's own it's marketed as an alternative payment system for bitcoin, which makes merchant adoption a good measure of it's value, but on this front it's outclassed by bitcoin-cash, which has even lower fee's and much higher merchant adoption. If you're looking for a quick in/out bitcoin cash has more potential for massive upside.

 

On it's own Litecoin won't hold it's value as well as Bitcoin during a dip, and there's not much more prospects for increased natural demand like Ethereum has, or projects with promising tech that's still under development.

 

On 1/18/2018 at 10:44 AM, Mercer said:

 

I use an iPhone app called crypto pro on my phone. I basically enter in my trades/buys/sells and it shows me what my portfolio looks like in real time without holding any keys/personal info on the phone. I use Exodus's "Eden" wallet, and whatever single use wallets are needed by other coins I hold like Monero, ect.

 

 

So with Litecoin:

 

When Litecoin first came out, it kind of made sense. BTC blocks took 10 minutes, Litecoins took 2.5 minutes. Charlie Lee also multiplied the supply by 4 times, and switched the hashing algorithm so the ASIC's used to mine bitcoin wouldn't work for Litecoin, all good. Cheap Chiness knockoff at best, back then fees were almost non-existant. No red flags, like a pre mine or unfair distribution, the coins were fairly distributed and no one held a superwhale majority, or enough coins to singlehandedly crash the market.

 

Strike 1

 

Flash forward to when Charlie Lee is working for coinbase as an engineer. He somehow got Coinbase to list LTC, keep in mind there was almost zero demand for it, while other more useful/reputable coins weren't listed. Charlie Lee tweeted something like "Hey Brian, why don't we add Litecoin to coinbase?", and Brian Armstrong (CEO of Coinbase) tweeted back something like "Sure @charlielee, why not". Pretending to make this decision on twitter was cute. There were credible rumors of insider trading (scooping up as much LTC as possible just before announcing LTC would be listed on Coinbase) then once the data was analysed, it pretty much proved there was, in fact, insider trading. Not a big deal, niggas gotta eat, but insider trading is a shady move when a cryptocurrency's point man is tainted by it.

 

Strike 2

 

That brings me to the "Litecoin is the Silver to Bitcoin's Gold" mantra. Sure, transactions are cheaper now, and take 25% less time to confirm, but there are other coins out there like Ethereum (15 second blocks) and Dash that make Litecoin look like a joke. So how much merchant adoption do you think Litecoin has achieved? Obviously they're not attempting alchemy here to be a "digital gold" store of value like Bitcoin right? Zero adoption, or efforts made to do so, not a single merchant was partnered with to create a use for Litecoin. Charlie Lee never intended to make good on the promises of digital silver. As it stands right now, the only use for Litecoin is moving crypto out of Coinbase, and onto Binance so you can trade for altcoins with an actual future (BTC fee's are to high). I personally prefer ETH for that.

 

Strike 3

 

Charle Lee is an outspoken Crypto Superstar, I follow his twitter and it's quite entertaining. He's positioned himself as a "Bitcoin Maximalist" Meaning he trash talks other coins by saying Bitcoin is king, blah blah, blah. Dude made a fucking altcoin himself though. Half the shade he's tried to throw at other coins is unsubstantiated bullshit he parrots from Bitcoin Maximalists. When the scaling debate heated up he positioned himself on the side of bitcoin core, offering to use Litecoin as a live testnet for Segregated Witness, and Lightning. If Segwit x Lightning lives up to the lofty claims by it's supporters, it would basically make Litecoin obsolete. Bitcoin transactions would be instant, fees would be almost non existent.

 

So on the other side of the scaling debate are people who support the BCH hardfork (whom Charlie likes to mock). In my opinion they've solved the scaling debate, and have been catching up to BTC's market cap since forking. "Coincidentally", right before they're listed on Coinbase Dec. 20th, there are signs of insider trading again, someone is scooping up massive amounts of BCH. Also, at the EXACT same time, this motherfucker announces he's cashed out of all his Litecoin holdings. While it's at an all time high. Brazen as fuck. His excuse "I wanted to be able to argue on the internet without people thinking I'm shilling for Litecoin" Yea right.

 

For me, a coin needs more than a catchphrase, it needs at least the potential for a use case.

  • Like 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

×
×
  • Create New...