Eth merge all but confirmed for 15th september - equivalent to a 3x halving. If you're not buying up eth atm, what are you even doing?
I know this is an old post but as someone who's been looking to get involved in crypto recently would you say it's worth buying now?
Looking online i can see Eth has dropped 73% in a year, including an 18% crash since yesterday. Do you think that will continue or is there anything that might make it bounce back up a bit?
Eth merge all but confirmed for 15th september - equivalent to a 3x halving. If you're not buying up eth atm, what are you even doing?
I know this is an old post but as someone who's been looking to get involved in crypto recently would you say it's worth buying now?
Looking online i can see Eth has dropped 73% in a year, including an 18% crash since yesterday. Do you think that will continue or is there anything that might make it bounce back up a bit?
Still accumulating ETH personally. I’d say next year we’ll find the bottom of the cycle. Until then just DCA (buy some once a month). They’ll be rallies until then. But mostly a downtrend.
Binance probably won’t be buying FTX. Massive news, a lot of people are going to lose a huge amount of money. Ftx branded themselves as a reputable player in the space and had sponsored sports stadiums, f1 teams etc. this is really bad.
edit: just a rumour, Binance are doing due diligence so won’t hear of a result for a long while
Yep ftx is fucked. Really feel for people who had money on there. Lots of crypto traders and influencers used ftx to trade and have 100s of k stuck on there. Sam bankman-fried should be in prison.
I know nothing about any of this and don’t understand it. BUT have been asked to put money into something called AMMdefi. It invests your money into various crypto things. Lots of my friends are making a lot of money on it. Anyone heard of it or is it a dodgy ponzu type thing?
I know nothing about any of this and don’t understand it. BUT have been asked to put money into something called AMMdefi. It invests your money into various crypto things. Lots of my friends are making a lot of money on it. Anyone heard of it or is it a dodgy ponzu type thing?
Tbh you’ve just combined two crypto terms into one - there’s defi that uses AMM - automated market makers, so you’re placing your assets into a pool for liquidity, where you get a share of trading fees when people use the pool to trade. It can be a good way of making your money work a bit harder. Your risk is the protocol/smart contract your money is used with gets exploited. So it’s not a ponzi as you can “see” it giving you trading fees on the blockchain
I know nothing about any of this and don’t understand it. BUT have been asked to put money into something called AMMdefi. It invests your money into various crypto things. Lots of my friends are making a lot of money on it. Anyone heard of it or is it a dodgy ponzu type thing?
I know nothing about any of this and don’t understand it. BUT have been asked to put money into something called AMMdefi. It invests your money into various crypto things. Lots of my friends are making a lot of money on it. Anyone heard of it or is it a dodgy ponzu type thing?
Yep ftx is fucked. Really feel for people who had money on there. Lots of crypto traders and influencers used ftx to trade and have 100s of k stuck on there. Sam bankman-fried should be in prison.
FTX was, I believe, recommended on here as a suitable vehicle so it's clear that FTX going down does not just affect the less than sophisticated investor but also those who are hardened to and understand the pitfalls in trading on such an exchange. Without regulation and the associated compensation that brings, where is the confidence that this won't happen to another platform? Surely the collapse of FTX will also have the knock on effect in that it will not just stop future investors from getting involved but will cause existing holders to de-invest albeit that would, in doing so, result in many crystalising their losses given what has generally happened to Crypto markets? Or am I missing something here?
FTX was, I believe, recommended on here as a suitable vehicle so it's clear that FTX going down does not just affect the less than sophisticated investor but also those who are hardened to and understand the pitfalls in trading on such an exchange. Without regulation and the associated compensation that brings, where is the confidence that this won't happen to another platform? Surely the collapse of FTX will also have the knock on effect in that it will not just stop future investors from getting involved but will cause existing holders to de-invest albeit that would, in doing so, result in many crystalising their losses given what has generally happened to Crypto markets? Or am I missing something here?
To play devils advocate wasn’t a supposed strength of the origins of Crypto that it wasn’t regulated?
For me it’s still the case that until the blockchain gets its ‘killer’ app or real world usage then investment is very speculative. It’s not clear to me why or how there are multiple cryptos currently without any obvious practical application but I am likely ill informed.
The gamble / incentive I imagine is backing the right horse to gain most from something taking off big time. Hopefully those individuals that have lost have mostly only lost paper profit and not significant cash investments.
Yep ftx is fucked. Really feel for people who had money on there. Lots of crypto traders and influencers used ftx to trade and have 100s of k stuck on there. Sam bankman-fried should be in prison.
Yep ftx is fucked. Really feel for people who had money on there. Lots of crypto traders and influencers used ftx to trade and have 100s of k stuck on there. Sam bankman-fried should be in prison.
The whole "there is a limited supply of..." - does it really apply?
I get it with gold because it can't be "created" but what's stopping the Japanese founder fella or anyone else just making a few more BitCoin, DonkeyDoo, RolyPolys on their computer etc.? I don't know, but is it 100% limited? Is there absolutely no possible way more could be created?
There will be a limited supply. All of it’s mathematics rely on that, if you change it, the entire thing breaks, like any piece of code or maths.
Still cant get my money out of coinbase. Going to put the money into Bitcoin and transfer into TRON asap.
Zuckerberg posted this earlier in the week:
With the rise of a small number of big tech companies — and governments using technology to watch their citizens — many people now believe technology only centralizes power rather than decentralizes it.
There are important counter-trends to this --like encryption and cryptocurrency -- that take power from centralized systems and put it back into people's hands. But they come with the risk of being harder to control. I'm interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.
Rumours he may team up with some sort of crypto for Facebook
The i newspaper is reporting that with the rise in electricity prices, it now costs more to "mine" a sparkly new bitcoin than its current market "value".
One of my kids has been a big advocate of crypto and has been trading for a few years. That's why I started to try and learn about it rather than nag him to stop which was my 1st instinct. However my advice to him and anyone else now would be to bail out as this is all going to go tits up. I suspect a few of the select group at the top of the pyramid will be disappearing over the coming weeks, either into hiding or at the behest of some of the unsavoury characters that may or may not have been laundering money. Cut your losses folks would be my advice before there is nothing left
The whole "there is a limited supply of..." - does it really apply?
I get it with gold because it can't be "created" but what's stopping the Japanese founder fella or anyone else just making a few more BitCoin, DonkeyDoo, RolyPolys on their computer etc.? I don't know, but is it 100% limited? Is there absolutely no possible way more could be created?
There will be a limited supply. All of it’s mathematics rely on that, if you change it, the entire thing breaks, like any piece of code or maths.
Still cant get my money out of coinbase. Going to put the money into Bitcoin and transfer into TRON asap.
Zuckerberg posted this earlier in the week:
With the rise of a small number of big tech companies — and governments using technology to watch their citizens — many people now believe technology only centralizes power rather than decentralizes it.
There are important counter-trends to this --like encryption and cryptocurrency -- that take power from centralized systems and put it back into people's hands. But they come with the risk of being harder to control. I'm interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.
Rumours he may team up with some sort of crypto for Facebook
Yup, blockchain is a secure, fraud proof system.
I could be wrong, but I believe what’s been stolen was actually held on the exchange. Rather than directly from the blockchain.
The whole "there is a limited supply of..." - does it really apply?
I get it with gold because it can't be "created" but what's stopping the Japanese founder fella or anyone else just making a few more BitCoin, DonkeyDoo, RolyPolys on their computer etc.? I don't know, but is it 100% limited? Is there absolutely no possible way more could be created?
There will be a limited supply. All of it’s mathematics rely on that, if you change it, the entire thing breaks, like any piece of code or maths.
Still cant get my money out of coinbase. Going to put the money into Bitcoin and transfer into TRON asap.
Zuckerberg posted this earlier in the week:
With the rise of a small number of big tech companies — and governments using technology to watch their citizens — many people now believe technology only centralizes power rather than decentralizes it.
There are important counter-trends to this --like encryption and cryptocurrency -- that take power from centralized systems and put it back into people's hands. But they come with the risk of being harder to control. I'm interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.
Rumours he may team up with some sort of crypto for Facebook
Yup, blockchain is a secure, fraud proof system.
What happened with ftx was not on the blockchain - this was the problem.
Personally, I know it is high risk and so will avoid.
As long as "investors" are aware that their money could disappear overnight, then it's all good with me and good luck to anyone dabbling.
I got burnt on the dotcom boom, getting in too late and most of them companies have gone 5/10/15 years later.
FTX was, I believe, recommended on here as a suitable vehicle so it's clear that FTX going down does not just affect the less than sophisticated investor but also those who are hardened to and understand the pitfalls in trading on such an exchange. Without regulation and the associated compensation that brings, where is the confidence that this won't happen to another platform? Surely the collapse of FTX will also have the knock on effect in that it will not just stop future investors from getting involved but will cause existing holders to de-invest albeit that would, in doing so, result in many crystalising their losses given what has generally happened to Crypto markets? Or am I missing something here?
Yes 100%. Ftx and their founder built their brand on being a legit player in the space and some one professional and non shadey you could trust. Compounded by eu and uk legislation pushing people away from Binance and other exchanges and to ftx.
For me this rings the death knell for centralised exchanges. Decentralised exchanges are the way forward. Crypto will survive and thrive again, as it always has done.
Comments
Looking online i can see Eth has dropped 73% in a year, including an 18% crash since yesterday. Do you think that will continue or is there anything that might make it bounce back up a bit?
edit: just a rumour, Binance are doing due diligence so won’t hear of a result for a long while
FTX is currently unable to process withdrawals. We strongly advise against depositing.
So you can still give them money even if they strongly advise against it....
I did my best to warn people.
For me it’s still the case that until the blockchain gets its ‘killer’ app or real world usage then investment is very speculative. It’s not clear to me why or how there are multiple cryptos currently without any obvious practical application but I am likely ill informed.
This is what happens when you get it.
All money gone and I suspect someone will be disappearing very soon.