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Bitcoin discussion thread - Page 63

Forum Index > General Forum
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sumitihomelend
Profile Joined June 2022
1 Post
June 13 2022 21:07 GMT
#1241
--- Nuked ---
ShoCkeyy
Profile Blog Joined July 2008
7815 Posts
June 14 2022 01:32 GMT
#1242
On June 13 2022 23:24 KwarK wrote:
Or buying ibonds, currently paying 9%.


thanks for this tip
Life?
plasmidghost
Profile Blog Joined April 2011
Belgium16168 Posts
June 14 2022 05:01 GMT
#1243
Been following along with Bitfinex the past few days and if this is true, holy shit

Yugoslavia will always live on in my heart
plasmidghost
Profile Blog Joined April 2011
Belgium16168 Posts
June 15 2022 05:35 GMT
#1244
Looks like crypto is about to completely collapse. Another firm, Three Arrows Capital, has almost certainly gone insolvent

Yugoslavia will always live on in my heart
{CC}StealthBlue
Profile Blog Joined January 2003
United States41117 Posts
June 30 2022 21:11 GMT
#1245
So Celsius is officially dead as their problem is a lot larger than they said.

"Smokey, this is not 'Nam, this is bowling. There are rules."
Simberto
Profile Blog Joined July 2010
Germany11491 Posts
June 30 2022 21:15 GMT
#1246
On July 01 2022 06:11 {CC}StealthBlue wrote:
So Celsius is officially dead as their problem is a lot larger than they said.

https://twitter.com/WatcherGuru/status/1542519429027594243


How completely unexpected.

Has any of these scammy "exchanges" ever reopened after limiting/stopping withdrawals?
{CC}StealthBlue
Profile Blog Joined January 2003
United States41117 Posts
July 01 2022 19:01 GMT
#1247
And another one to end the week.

"Smokey, this is not 'Nam, this is bowling. There are rules."
{CC}StealthBlue
Profile Blog Joined January 2003
United States41117 Posts
July 04 2022 16:39 GMT
#1248
The biggest one has started to crack it seems. Also Coinbase value has fallen 80%.

"Smokey, this is not 'Nam, this is bowling. There are rules."
{CC}StealthBlue
Profile Blog Joined January 2003
United States41117 Posts
July 11 2022 22:06 GMT
#1249
So it appears the Founders of the Crypto trading platform Three Arrows are now on the run.

"Smokey, this is not 'Nam, this is bowling. There are rules."
iPlaY.NettleS
Profile Blog Joined June 2010
Australia4329 Posts
July 15 2022 09:53 GMT
#1250
Mt Gox finally giving 137,000 bitcoin back to holders, 8 years after it collapsed.Will possibly lead to another sell off.

https://cryptoslate.com/will-release-of-3b-bitcoin-from-mt-gox-cause-market-bottom-in-august/?amp=1
https://www.youtube.com/watch?v=e7PvoI6gvQs
cryptotipsinside
Profile Joined August 2022
United States1 Post
August 11 2022 01:32 GMT
#1251
--- Nuked ---
{CC}StealthBlue
Profile Blog Joined January 2003
United States41117 Posts
November 08 2022 22:43 GMT
#1252
Shot:


Chaser:
"Smokey, this is not 'Nam, this is bowling. There are rules."
L_Master
Profile Blog Joined April 2009
United States8017 Posts
November 09 2022 02:37 GMT
#1253
Bummer that it looks like SBF was scamming/fraud, or at best playing really risky tactics.

Especially bummer because the guy is by FAR the wealthiest EA in the world, so that's a big loss if he loses a significant fraction of his wealth.
EffOrt and Soulkey Hwaiting!
aseq
Profile Joined January 2003
Netherlands3975 Posts
November 09 2022 17:39 GMT
#1254
My current take: by now I don't think many people will still argue that crypto is anything more than a store of 'value' that's extremely attractive to speculation because of its volatility. We're 5 years past the first big global hype, so by now, a lot of the capital that had the potential to end up in crypto has made it into it. Yet there have been no signs of any use of crypto outside of 'getting rich'-schemes. It replacing a currency is a joke (I could elaborate here if necessary), and other 'revolutionary' uses have not seen the light of day yet.

So viewing 'crypto' as an ecosystem, what is going to keep it alive if there is no continued financial support from the global population? Its upkeep is considerable, seeing as there's a lot of 'development' going on in the scene, most of it parallel to other initiatives or turning out to be long shots. Lots of early adapters and people who started companies have pulled out lots of money, and there are huge operational costs (not only electricity and hardware, also staff).

I understand that everyone has his own opinion on this (although unfortunately, most often based on whether they have crypto and want their own crypto assets to grow in value), but I don't have a very positive image for the future. Operational costs need to be brought down if it is to be an alternative to precious metals as a store of value. And all these shady practices don't help either, of course. Well, they help to hide the actual situation for a while...causing quicker collapse in the end.
{CC}StealthBlue
Profile Blog Joined January 2003
United States41117 Posts
Last Edited: 2022-11-09 20:27:10
November 09 2022 20:26 GMT
#1255
Not so fast...


"Smokey, this is not 'Nam, this is bowling. There are rules."
{CC}StealthBlue
Profile Blog Joined January 2003
United States41117 Posts
November 09 2022 20:53 GMT
#1256
And the deal is officially off. Also the Feds are investigating FTX now.

"Smokey, this is not 'Nam, this is bowling. There are rules."
Simberto
Profile Blog Joined July 2010
Germany11491 Posts
Last Edited: 2022-11-09 20:56:32
November 09 2022 20:55 GMT
#1257
Yeah, crypto seems to be crashing pretty hard at the moment. The last few months have basically been a nonstop series of stuff imploding and money disappearing.

And i agree with aseqs sentiment. Crypto still doesn't actually seem to have any real use cases beyond paying for illegal stuff, speculating, and scams. None of those look like something that will lead to the mass adoption people who are into crypto seem to be hoping for.
gobbledydook
Profile Joined October 2012
Australia2602 Posts
Last Edited: 2022-11-09 23:54:44
November 09 2022 23:54 GMT
#1258
I've heard that transactions with bit coin costs around USD10 per transaction. I'm not sure who would be willing to pay that much instead of, say, use a credit card.
I am a dirty Protoss bullshit abuser
{CC}StealthBlue
Profile Blog Joined January 2003
United States41117 Posts
November 10 2022 00:58 GMT
#1259
Jeezus christ...

"Smokey, this is not 'Nam, this is bowling. There are rules."
aseq
Profile Joined January 2003
Netherlands3975 Posts
November 10 2022 01:00 GMT
#1260
On November 10 2022 08:54 gobbledydook wrote:
I've heard that transactions with bit coin costs around USD10 per transaction. I'm not sure who would be willing to pay that much instead of, say, use a credit card.

It depends on how busy the network is and how fast you want your transaction to be completed (and almost certain). This depends on the market, it's not set in stone. Future technical improvement might also improve this, although greater amounts of transactions/hour won't. Miners will just pick the transactions that make them the biggest transaction fees and put those into a block.

So while that's definitely something a credit card does better at the moment, there are a number of other, more important things a credit card also does better.
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