Crypto predictions, dead or not.

Would you buy any crypto

  • Yes

    Votes: 8 22.9%
  • No

    Votes: 18 51.4%
  • Go back to south Australia

    Votes: 9 25.7%

  • Total voters
    35

SummitFever

Eats Squid
Yeah a lot of it is ponzi schemes, but it's hard to argue that eth or btc are ponzi schemes.

Not all blockchains are the same in what they what they are used for. Some new tech im talking about for example is, untill reletively recently, blockchain interoperability wasnt possible. Some cunts worked it out and backing tokens related to those groups funds further development in this space. Thats not insignificant. But this is a beta max vs vhs scenario. Except there are 200 different formats to take a punt on
Different formats, interoperability etc. have no effect on the lack of fundamentals.

That's not too say there isn't good money to be made. I've implemented solutions in the block chain space and I've also advised a good number of clients in why the block chain is not what they need despite what they heard at last week's Gartner conference.

Crypto though. That's total shite.
 

safreek

*******
At least with gambling the odds and the track record are more certain. Crypto is just this ridiculous and opaque giant multi faceted Ponzi scheme.

Sent from my M2012K11AG using Tapatalk
Heh, bit like buying expensive bikes really, most lose a third of value almost immediately, crypto takes a bit longer to lose that value.
All the money I have put into it is from selling bike parts, money I saved not buying loads of weed so it was money that would of been gone anyway. Yeah I could of just saved it as cash but then I would of spent it on holidays and stuff. Either way it was gone so no biggy if crypto collapses. Hint, it won't.

All shareholders face the same risk, if coca cola went broke, how much of your share money do you think you would get back, probably very little if not none.
Companies go broke all the time, investors lose money all the time so not much difference.
Yes companies have assets that are worth money but shareholders will be last in line to get that. Just the facts

 

Oddjob

Merry fucking Xmas to you assholes
All shareholders face the same risk, if coca cola went broke, how much of your share money do you think you would get back, probably very little if not none.
Companies go broke all the time, investors lose money all the time so not much difference.
Yes companies have assets that are worth money but shareholders will be last in line to get that. Just the facts

That is a really shitty straw man. It's a bit like saying that people are dying all the time, let's stop spending money on public health.

Publicly traded companies are heavily regulated and there are clear rules around disclosure and accounting. It's usually pretty straightforward to figure out how they are generating value and profit. Crypto on the other hand just seems to be a giant Ponzi scheme that is designed to seperate over confident lemmings from their money.

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safreek

*******
That is a really shitty straw man. It's a bit like saying that people are dying all the time, let's stop spending money on public health.

Publicly traded companies are heavily regulated and there are clear rules around disclosure and accounting. It's usually pretty straightforward to figure out how they are generating value and profit. Crypto on the other hand just seems to be a giant Ponzi scheme that is designed to seperate over confident lemmings from their money.

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Maybe so, but it still seems like listed companies have a bad strike rate when new.

Don't get me wrong, if you invest in reputable ones you have a good chance of victory.

But take afterpay for instance, I 8xed my investment in it through covid, it has never made a profit, never given a dividend.
It's was as close to gambling on the horses as possible. Will it ever make a profit, probably not because once you can't pay them you are so fucked you might as well call bankruptcy instead of paying endless fees.
Just one example.
 

Squidfayce

Eats Squid
Publicly traded companies are heavily regulated and there are clear rules around disclosure and accounting.
Except the big 4 these companies use for their yearly audits, regulatory reporting and consulting are increasingly at the center various frauds, creative accounting and tax evasion for these very companies. Much scrutiny around them as of late.

Obviously defining and proving the value of coca cola or BHP is easier than that of something like Celsius or FTX, I don't think publicly listed companies are as safe bet as they used to be. The companies that audit them and report forth em have a vested interest in doing what they're told.
 

indica

Serial flasher
Friend has just lost 100k (uk) on FTX exchange.... fucking ouch
well, not lost "it's still there, I just can't withdraw"
 

safreek

*******
Friend has just lost 100k (uk) on FTX exchange.... fucking ouch
well, not lost "it's still there, I just can't withdraw"
That's pretty fucked, can he transfer it to a ledger.
Not being a smartarse but it shows the old saying is correct about keeping your crypto off the exchanges
 

Oddjob

Merry fucking Xmas to you assholes
Except the big 4 these companies use for their yearly audits, regulatory reporting and consulting are increasingly at the center various frauds, creative accounting and tax evasion for these very companies. Much scrutiny around them as of late.

Obviously defining and proving the value of coca cola or BHP is easier than that of something like Celsius or FTX, I don't think publicly listed companies are as safe bet as they used to be. The companies that audit them and report forth em have a vested interest in doing what they're told.
Nothing is without risk. But investing without a clear view of what the asset does is a proven losing strategy, especially for retail investors. See other great markets for fleecing uninformed investors like derivatives, insurance, and (god help me) art.

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Squidfayce

Eats Squid
I'd consider nexo if I was trading, they appear to be more bank like with actual reserves kept.
Have you heard of fractional reserve banking?

No one keeps the amount of cash put into their platform equal to the value of their assets/deposits. Not even your bank at home your pay goes into. Bank runs can happen on any platform and to any bank.
 
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