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Cryptocurrencies Part III - We ran as if to meet the Moon

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Ethereum up 50% in the last month :yo:

Hope you all bought when it was under 1,000! You’ll never see those numbers again once the merge happens in mid Sept!
 
The Crypto Guy said:
This dumbass is still looking? Give it up already and live your life.
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Bruh, his family has left him he literally has nothing left, this bitcoin has ruined his life. If they officially shut his efforts down for good I don't think he lasts long
 
Happy Merge Day to all!!

Approximately 8 hours!

Just type in "The merge" in google for your up to date countdown ;)
 
THE MERGE IS COMPLETE WITHOUT A SINGLE ISSUE!!!!!

The Ethereum network how now changed from Proof of Work to Proof of Stake, thus cutting its energy consumption by more than 99%!!!

What a f***ing accomplishment by all involved!

Only the start for Ethereum! This was one of many huge upgrades over the next couple years

www.coindesk.com

The Ethereum Merge Is Done, Opening a New Era for the Second-Biggest Blockchain

The historic upgrade casts aside the miners who had previously driven the blockchain, with promises of massive environmental benefits.
www.coindesk.com www.coindesk.com
 
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It's wild watching a Netflix documentary in real time before your eyes.

There's too many insane things about FTX/Alameda

- They were THE exchange publicly pushing for regulation. Actually this entire episode was partly spurred by FTX pushing for regulation and badmouthing Binance. This is real Gus Fring donating to the DEA energy.

- They took $10B of customer deposits from their FTX exchange to cover the bad bets from their hedge fund Alameda. This hedge fund was basically 10 people, all in a polycule relationship with each other, having drug fueled orgies in between insanely leveraged bets on altcoins

- The bank run that killed them was only brought on because their biggest rival, CZ of Binance, was angry they were badmouthing them to US politicians. For that transgression, SBF went from a net worth of $26 billion (on paper, not really) to completely bankrupt. CZ simply tweeted that he was going to dump the $FTT token and the dominoes destroyed everything they had.

- Wirthdrawals were still possible post-reveal for Bahamas citizens only. This makes sense. FTX is located in the Bahamas and good luck escaping the island alive if you didn't make the government and people there whole. This resulted in some people paying ~100k for a Bahamas ID to pass KYC. Those people will probably be hunted, but maybe they escape to an island with their millions.

- Most FTX employees are left with nothing. Most of them kept everything on the exchange and they were often compensated in coins that are now worthless. Outside of the inner circle they were all clueless about the deceptions and only found out on twitter with the rest of us.

- As I type, recently FTX wallets have been emptied of millions. It's possible they've been hacked with security light, it's more likely this is FTX insiders desperately trying to take what they can.


I think it's hard to overstate how bad this is for the mainstream adoption of crypto. They were probably the most visible crypto brand in America. Brady, Miami Heat arena, they paid $210 million for the naming rights to an esports team lol. SBF was the second biggest donor to the Demoractic party, he was the face of crypto in Washington. He was on the cover of Forbes a bunch of times as the next Warren Buffet. Now he's a disgrace and crypto will take a massive step back for awhile. After the Ontario teachers pension plan lost $400 million in FTX I don't see a lot of boring pension funds racing to crypto. They were seen as safe. We're in for a long winter.

For the love of god, keep any crypto you own with a hardware wallet and not on an exchange.
 
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beowulf said:
Crypo continues to show it is dumb and barely over a scam at this point. Come see me when you can easily sell and get your money back for any crypto and/or use it to buy real world items anywhere.
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I used to be a big supporter of crypto. Even worked on a few projects. Wouldn't touch it with a 39 1/2 food pole. It is a modern day version of wildcat banking. It's existence is a net negative on the world from a energy consumption standpoint.
 
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Gardner McKay said:
I used to be a big supporter of crypto. Even worked on a few projects. Wouldn't touch it with a 39 1/2 food pole. It is a modern day version of wildcat banking. It's existence is a net negative on the world from a energy consumption standpoint.
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Agreed I made a little money years ago as I learned about it because of my job in Intelligence for a Canadian Agency. But as everyone and their uncle started their own cryptos and the promise of being able to use it easily to make real world purchases never materialized at the level some crypto insiders and experts went on about 5-6 years ago I got out. Now we hear as often about currencies or markets failing as we do legacy financial sector companies it seems.

The concept is interesting which is what got me interested but the lack of regulations etc. are becoming a problem. And like you said the energy consumption is insane and most people are not running their crypto mining on solar or other less polluting energy sources.
 
Non Player Canadiens said:
is that all that crypto is good for? making a quick fortune for a select few? i thought it was supposed to be a world-changing new technology for all :dunno:

You Can Forget About Crypto Now
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Oh , you must be new in the crypto world. Those FUD articles have been coming out during every bear market..and guess what, it keeps on chugging along and it’s value keeps increasing. Of course i’m talking about just the big 2. Shame on you if you buy anything other than Bitcoin or Ether.

beowulf said:
Crypo continues to show it is dumb and barely over a scam at this point. Come see me when you can easily sell and get your money back for any crypto and/or use it to buy real world items anywhere.
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Um, it would take me all of 30 seconds to sell my crypto and get USD. If you arent smart enough to keep your crypto on a secure device and not use a trusted exchange I dont know what to tell you. You deserve to be scammed. Probably the same people who are being scammed on the phone to give out gift card numbers.


Same story and same dance as in every bear market. Then you all crawl away again when the bull market is back.
 
beowulf said:
Agreed I made a little money years ago as I learned about it because of my job in Intelligence for a Canadian Agency. But as everyone and their uncle started their own cryptos and the promise of being able to use it easily to make real world purchases never materialized at the level some crypto insiders and experts went on about 5-6 years ago I got out. Now we hear as often about currencies or markets failing as we do legacy financial sector companies it seems.

The concept is interesting which is what got me interested but the lack of regulations etc. are becoming a problem. And like you said the energy consumption is insane and most people are not running their crypto mining on solar or other less polluting energy sources.
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Energy consumption? You should do your research and see how much energy consumption Ethereum uses.
 
The Crypto Guy said:
Oh , you must be new in the crypto world. Those FUD articles have been coming out during every bear market..and guess what, it keeps on chugging along and it’s value keeps increasing. Of course i’m talking about just the big 2. Shame on you if you buy anything other than Bitcoin or Ether.


Um, it would take me all of 30 seconds to sell my crypto and get USD. If you arent smart enough to keep your crypto on a secure device and not use a trusted exchange I dont know what to tell you. You deserve to be scammed. Probably the same people who are being scammed on the phone to give out gift card numbers.


Same story and same dance as in every bear market. Then you all crawl away again when the bull market is back.
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Keep trying buttercup, crypto is mostly a lost world right now and full of scams left and right. Not worth the hassle and the time of constantly checking on it I have a real job and better things to do with my spare time.

The fact remains that crypto is far from convenient and that, along with the lack of trust in them, will keep them from being widely adopted any time soon.

As for energy buttercup, you are a joke in that you name one currency that was far from a green currency until the merge which supposedly might cut it by 99%, but I'll wait and see if that is true.. And as I said that is just one of over 21,000 crypto currencies available around the world and Bitcoin remains the #1 crypto and is a terrible polluter creating over 48 million tons of CO2 a year at this point and over 200 million tons since its launch.
 
beowulf said:
Keep trying buttercup, crypto is mostly a lost world right now and full of scams left and right. Not worth the hassle and the time of constantly checking on it I have a real job and better things to do with my spare time.

The fact remains that crypto is far from convenient and that, along with the lack of trust in them, will keep them from being widely adopted any time soon.

As for energy buttercup, you are a joke in that you name one currency that was far from a green currency until the merge which supposedly might cut it by 99%, but I'll wait and see if that is true.. And as I said that is just one of over 21,000 crypto currencies available around the world and Bitcoin remains the #1 crypto and is a terrible polluter creating over 48 million tons of CO2 a year at this point and over 200 million tons since its launch.
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Buttercup? Lmao grow up, you aren't worth a response if you're going to troll.
 
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