[Finance] The cryptocurrency (Bitcoin etc) thread

[Marshy]

I used to post on a forum with an extremely early adopter of bitcoin when each coin was priced under a dollar. I'd say about 99% of the forum (including me) laughed at the ridiculousness of his predictions. The rest got rich enough to buy property before exiting. The original poster who at one point owned a double digit percentage of all available bitcoins eventually became a billionaire.

I don't really understand modern crypto, seems very ponzi, at least bitcoin /ethereum have (or had?) a real world function of facilitating the illicit drug trade.

Bitcoin and Eth .... mmm Bitcoin has very very little utility, Eth does have some but its just ridiculously expensive to use as is Bitcoin.


there are tons of dodgy tokens out there, its working out the ones that have real genuine real world utility that will make it... then you may get very very lucky ;-)

 

[sydney]

Bitcoin and Eth .... mmm Bitcoin has very very little utility, Eth does have some but its just ridiculously expensive to use as is Bitcoin.


there are tons of dodgy tokens out there, its working out the ones that have real genuine real world utility that will make it... then you may get very very lucky ;-)

all in with xrp , ada , DigiByte , hbar & sol......stopped looking now , doing my head in ....i won 40 k on the horses 2 yrs ago , put 15 into share and 15 into crypto , im down 75 % but it was never really my money ....prrrffft...loads of horror stories out there ...i don't get how it has become so mainstream advertising/sponsorship wise but it is ****ing tanking , wtf is going on..?

 

[A mex eyecan]

I work in this space, here is our company stance on it for anyone who's interested.

Everyone has seen the headlines, so thought I'd share our macro POV on the consumer blockchain.

Along with the tech industry (and overall global financial market), the cryptocurrency asset class has seen significant volatility over the last few days. However, in the midst of volatility we see enterprises continue to build, activate and educate employees about Web3.

We are convicted on the lasting potential of Web3: blockchain, NFTs, and the metaverse. Enterprise-level interest and investment has grown tremendously this year, as has consumer adoption and engagement. The Web3 genie is out of the bottle.

Our chairman, has continued to advocate: "A lot of people talked about the internet being a fad. In reality, the internet was this game-changing revolution of technology but a lot of the early projects were just overpriced on the excitement. The ‘consumer blockchain’ will be the single biggest technological shift since the invention of the internet."

Recent news that illustrates increasing commitment by major players to Web3:
In the last week, we've seen major announcements from Mastercard, Salesforce, PayPal, Epic Games as compelling examples of growing infrastructure investments in the Web3 space.
Brands, properties & talent in the sport & entertainment industry also continue to build. Magic Johnson & Dominique Wilkins are each launching their first NFT, the NFL has partnered with Mythical Games to build an NFT video game, and the UFC partnered with DraftKings.

The Metaverse continues to be built out as Web2 becomes Web2.5. Established social media platforms like Meta, Spotify, Twitter announce and implement blockchain / NFT pilots while decentralized upstarts like Sandbox and Decentraland announce new brand partnerships (e.g. NYX, Acura, etc.)

Non-price metrics are overwhelmingly positive: Web3 developer talent continues to increase, leading VC firms set records in new fund growth, and consumer research continues to point towards increasing adoption in new digital spaces.

These technologies continue to enhance the way we connect and engage digitally.

Web3 enables new forms of incentive-aligned community-building and brand loyalty. For consumers, it offers more ownership, control, and pride in digital identities and activities.

For brands looking to build for the long-term, we recommend:
- Continued experimentation with the underlying technology: stay innovative; don’t just repeat what you’ve seen in the market
- Free-to-consumer entrances to build initial goodwill and engagement
-Commitment to transparency - Web3 consumers are naturally a bit skeptical about major brands entering this growing ecosystem. Surprise them with transparency and sincerity in your Web3 efforts - we’re all learning together.

From VNFT to V3 aka. V///
You may have seen the early signs pointing towards VNFT's rebrand to V3. More to come on this in July.

Thanks for reading!

yup, what i said earlier, lots of gobbledegook to me …
ah well .

 

[sydney]

I used to post on a forum with an extremely early adopter of bitcoin when each coin was priced under a dollar. I'd say about 99% of the forum (including me) laughed at the ridiculousness of his predictions. The rest got rich enough to buy property before exiting. The original poster who at one point owned a double digit percentage of all available bitcoins eventually became a billionaire.

I don't really understand modern crypto, seems very ponzi, at least bitcoin /ethereum have (or had?) a real world function of facilitating the illicit drug trade.

yes indeed , a mate of mine from Ilford pissed off back to England with a thumb drive with 110 bitcoins back in 1994 , we used them to buy sniff , MDMA , pills and weed ....so he thought he'd do the biggun .....he came home with **** all and lost the thumb drive somewhere on a bender , he worked for Dell and knew his stuff but jesus christ he is not a happy boy now....i think they were about 12 bucks US back then so it was just about 1500 quid total ....you can do the maths.

 

[PHCgull]

yes indeed , a mate of mine from Ilford pissed off back to England with a thumb drive with 110 bitcoins back in 1994 , we used them to buy sniff , MDMA , pills and weed ....so he thought he'd do the biggun .....he came home with **** all and lost the thumb drive somewhere on a bender , he worked for Dell and knew his stuff but jesus christ he is not a happy boy now....i think they were about 12 bucks US back then so it was just about 1500 quid total ....you can do the maths.

bitcoin launched in 2009.




have i been whooshed?

 

[Tom Hark Preston Park]

all in with xrp , ada , DigiByte , hbar & sol......stopped looking now , doing my head in ....i won 40 k on the horses 2 yrs ago , put 15 into share and 15 into crypto , im down 75 % but it was never really my money ....prrrffft...loads of horror stories out there ...i don't get how it has become so mainstream advertising/sponsorship wise but it is ****ing tanking , wtf is going on..?

Just the latest in a long line of Extraordinary Popular Delusions and the Madness of Crowds. Beanie Babies anybody?

 

[nicko31]

always lived by two mantras ‘don’t get involved financially in things you don’t understand’ and ‘if something looks too good to be true then it most likely is’

I certainly have never understood Crypto’s or the associated gobbledegook terminologies. Many things i have read seem to have a fair proportion of contributors extolling how easy it is mining this, digging that and raking in the dosh ….

hence I’ve never bothered…. maybe a huge, huge mistake? but I reckon I’d sooner have my money invested in something tangible. But hey, I’m an older bloke and hold many dinosaurian views so I frequently told

Its always the JCL's that get burnt, I suspect a lot of poor people across the world we will have lost everything.

From an ethical standpoint a terrible investment wastes loads of energy, has driven up the cost of semi-conductors and delivered nothing to society

 

[Half Time Pies]

I work in this space, here is our company stance on it for anyone who's interested.

Everyone has seen the headlines, so thought I'd share our macro POV on the consumer blockchain.

Along with the tech industry (and overall global financial market), the cryptocurrency asset class has seen significant volatility over the last few days. However, in the midst of volatility we see enterprises continue to build, activate and educate employees about Web3.

We are convicted on the lasting potential of Web3: blockchain, NFTs, and the metaverse. Enterprise-level interest and investment has grown tremendously this year, as has consumer adoption and engagement. The Web3 genie is out of the bottle.

Our chairman, has continued to advocate: "A lot of people talked about the internet being a fad. In reality, the internet was this game-changing revolution of technology but a lot of the early projects were just overpriced on the excitement. The ‘consumer blockchain’ will be the single biggest technological shift since the invention of the internet."

Recent news that illustrates increasing commitment by major players to Web3:
In the last week, we've seen major announcements from Mastercard, Salesforce, PayPal, Epic Games as compelling examples of growing infrastructure investments in the Web3 space.
Brands, properties & talent in the sport & entertainment industry also continue to build. Magic Johnson & Dominique Wilkins are each launching their first NFT, the NFL has partnered with Mythical Games to build an NFT video game, and the UFC partnered with DraftKings.

The Metaverse continues to be built out as Web2 becomes Web2.5. Established social media platforms like Meta, Spotify, Twitter announce and implement blockchain / NFT pilots while decentralized upstarts like Sandbox and Decentraland announce new brand partnerships (e.g. NYX, Acura, etc.)

Non-price metrics are overwhelmingly positive: Web3 developer talent continues to increase, leading VC firms set records in new fund growth, and consumer research continues to point towards increasing adoption in new digital spaces.

These technologies continue to enhance the way we connect and engage digitally.

Web3 enables new forms of incentive-aligned community-building and brand loyalty. For consumers, it offers more ownership, control, and pride in digital identities and activities.

For brands looking to build for the long-term, we recommend:
- Continued experimentation with the underlying technology: stay innovative; don’t just repeat what you’ve seen in the market
- Free-to-consumer entrances to build initial goodwill and engagement
-Commitment to transparency - Web3 consumers are naturally a bit skeptical about major brands entering this growing ecosystem. Surprise them with transparency and sincerity in your Web3 efforts - we’re all learning together.

From VNFT to V3 aka. V///
You may have seen the early signs pointing towards VNFT's rebrand to V3. More to come on this in July.

Thanks for reading!

I think there are undoubtedly many uses for blockchain technology but this doesn't necessarily mean that the long-term prognosis for crypto currencies as an investment is still good. My take on the ridiculous prices rises over the past couple of years is that they have directly correlated with the policy of central banks of printing vast amounts of money to pay for COVID which was injected in to the financial system. The excess cash sloshing around was used to buy more and more riskier assets and drove prices artificially high, not just in crypto but also with other asset classes. Now that policy has been reversed due to rising inflation investors are now taking their money out and putting it in less riskier investments. We are now seeing bitcoin etc return to its post COVID value, and, the whole experience has also somewhat exploded some of the crypto myths like that it is a hedge against inflation.

 

[GrizzlingGammon]

Defi is the thing.

 

[Bold Seagull]

Just the latest in a long line of Extraordinary Popular Delusions and the Madness of Crowds. Beanie Babies anybody?

Many people lost a lot of money investing in a ridiculously far fetched technological advancement in the 1850s - the transatlantic cables. First ones only worked for 2 weeks. Second ones were ridiculously slow several companies and investors went bankrupt. The laying of the cables however changed the world. Tulips or cables?

 

[KZNSeagull]

I work in this space, here is our company stance on it for anyone who's interested.

Everyone has seen the headlines, so thought I'd share our macro POV on the consumer blockchain.

Along with the tech industry (and overall global financial market), the cryptocurrency asset class has seen significant volatility over the last few days. However, in the midst of volatility we see enterprises continue to build, activate and educate employees about Web3.

We are convicted on the lasting potential of Web3: blockchain, NFTs, and the metaverse. Enterprise-level interest and investment has grown tremendously this year, as has consumer adoption and engagement. The Web3 genie is out of the bottle.

Our chairman, has continued to advocate: "A lot of people talked about the internet being a fad. In reality, the internet was this game-changing revolution of technology but a lot of the early projects were just overpriced on the excitement. The ‘consumer blockchain’ will be the single biggest technological shift since the invention of the internet."

Recent news that illustrates increasing commitment by major players to Web3:
In the last week, we've seen major announcements from Mastercard, Salesforce, PayPal, Epic Games as compelling examples of growing infrastructure investments in the Web3 space.
Brands, properties & talent in the sport & entertainment industry also continue to build. Magic Johnson & Dominique Wilkins are each launching their first NFT, the NFL has partnered with Mythical Games to build an NFT video game, and the UFC partnered with DraftKings.

The Metaverse continues to be built out as Web2 becomes Web2.5. Established social media platforms like Meta, Spotify, Twitter announce and implement blockchain / NFT pilots while decentralized upstarts like Sandbox and Decentraland announce new brand partnerships (e.g. NYX, Acura, etc.)

Non-price metrics are overwhelmingly positive: Web3 developer talent continues to increase, leading VC firms set records in new fund growth, and consumer research continues to point towards increasing adoption in new digital spaces.

These technologies continue to enhance the way we connect and engage digitally.

Web3 enables new forms of incentive-aligned community-building and brand loyalty. For consumers, it offers more ownership, control, and pride in digital identities and activities.

For brands looking to build for the long-term, we recommend:
- Continued experimentation with the underlying technology: stay innovative; don’t just repeat what you’ve seen in the market
- Free-to-consumer entrances to build initial goodwill and engagement
-Commitment to transparency - Web3 consumers are naturally a bit skeptical about major brands entering this growing ecosystem. Surprise them with transparency and sincerity in your Web3 efforts - we’re all learning together.

From VNFT to V3 aka. V///
You may have seen the early signs pointing towards VNFT's rebrand to V3. More to come on this in July.

Thanks for reading!

Good grief. I expect someone gets paid a lot of money to write that nonsense.

 

[Bry Nylon]

From VNFT to V3 aka. V///
You may have seen the early signs pointing towards VNFT's rebrand to V3. More to come on this in July.

I've cancelled all plans and made a note in my diary

 

[Tom Hark Preston Park]

Many people lost a lot of money investing in a ridiculously far fetched technological advancement in the 1850s - the transatlantic cables. First ones only worked for 2 weeks. Second ones were ridiculously slow several companies and investors went bankrupt. The laying of the cables however changed the world. Tulips or cables?

The mania of building railways around the same period would 'of' been a better example

 

[beorhthelm]

...

From VNFT to V3 aka. V///
You may have seen the early signs pointing towards VNFT's rebrand to V3. More to come on this in July.

is that some alpha, can you expand?

 

[boik]

I work in this space, here is our company stance on it for anyone who's interested.

Everyone has seen the headlines, so thought I'd share our macro POV on the consumer blockchain.

Along with the tech industry (and overall global financial market), the cryptocurrency asset class has seen significant volatility over the last few days. However, in the midst of volatility we see enterprises continue to build, activate and educate employees about Web3.

We are convicted on the lasting potential of Web3: blockchain, NFTs, and the metaverse. Enterprise-level interest and investment has grown tremendously this year, as has consumer adoption and engagement. The Web3 genie is out of the bottle.

Our chairman, has continued to advocate: "A lot of people talked about the internet being a fad. In reality, the internet was this game-changing revolution of technology but a lot of the early projects were just overpriced on the excitement. The ‘consumer blockchain’ will be the single biggest technological shift since the invention of the internet."

Recent news that illustrates increasing commitment by major players to Web3:
In the last week, we've seen major announcements from Mastercard, Salesforce, PayPal, Epic Games as compelling examples of growing infrastructure investments in the Web3 space.
Brands, properties & talent in the sport & entertainment industry also continue to build. Magic Johnson & Dominique Wilkins are each launching their first NFT, the NFL has partnered with Mythical Games to build an NFT video game, and the UFC partnered with DraftKings.

The Metaverse continues to be built out as Web2 becomes Web2.5. Established social media platforms like Meta, Spotify, Twitter announce and implement blockchain / NFT pilots while decentralized upstarts like Sandbox and Decentraland announce new brand partnerships (e.g. NYX, Acura, etc.)

Non-price metrics are overwhelmingly positive: Web3 developer talent continues to increase, leading VC firms set records in new fund growth, and consumer research continues to point towards increasing adoption in new digital spaces.

These technologies continue to enhance the way we connect and engage digitally.

Web3 enables new forms of incentive-aligned community-building and brand loyalty. For consumers, it offers more ownership, control, and pride in digital identities and activities.

For brands looking to build for the long-term, we recommend:
- Continued experimentation with the underlying technology: stay innovative; don’t just repeat what you’ve seen in the market
- Free-to-consumer entrances to build initial goodwill and engagement
-Commitment to transparency - Web3 consumers are naturally a bit skeptical about major brands entering this growing ecosystem. Surprise them with transparency and sincerity in your Web3 efforts - we’re all learning together.

From VNFT to V3 aka. V///
You may have seen the early signs pointing towards VNFT's rebrand to V3. More to come on this in July.

Thanks for reading!

That's a full house in buzzword bingo! I particularly enjoyed "incentive-aligned community-building". So glad I retired from the IT business.

 

[CHAPPERS]

Nothing screams relevant like a Magic Johnson NFT

 

[sydney]

Just the latest in a long line of Extraordinary Popular Delusions and the Madness of Crowds. Beanie Babies anybody?

some reading material for you

The creature from Jekyll island.

having created our currency the fed reserve are now busy rendering it worthless slowly but surely , have a read , see what you think.

 

[sydney]

bitcoin launched in 2009.




have i been whooshed?

maybe we both have , i'm gonna ring him in the morning....

 

[sydney]

Just the latest in a long line of Extraordinary Popular Delusions and the Madness of Crowds. Beanie Babies anybody?

well , if that is the case then it is being pushed at a level that can only be called wholesale fraud, mainstream sporting events are largely sponsored by crypto bases businesses, surely your not suggesting we are being rinsed by the financial oracles of this world..??

 

[giveusfalmerplease]

bitcoin launched in 2009.




have i been whooshed?

Also there was no such thing as a thumb drive in 1994. Hell Windows 95 hadnt even launched - TROLL (not you)