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Thread: Bitcoins are officially donkdown

  1. #7941
    Cubic Zirconia
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    Hi all, I like to think of BTC this way, and how I explained it to my 80 yr old mom.
    "Bitcoin is kind of like digital gold if all the gold was already mined and there was only a set amount of gold that would ever exist."

    I think this explanation is simple and to the point.

    Yes, I understand that BTC is still being mined, but bitcoin will max out at 21 million bitcoin.
    Now, its still to early to say if the world will think BTC is worth using or keeping for some "store of value" reason. One can limit anything to 21 million but that doesn't mean anyone will think BTC is worth anything.

  2. #7942
    Plutonium Sanlmar's Avatar
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    @ Tellafriend & my new convert Daly

    Fed's Powell: a U.S. digital dollar could help maintain international primacy
    https://www.reuters.com/markets/us/f...source=twitter


    No disaster will be squandered in the pursuit of tyranny.

    Worst development since Bush era Patriot Act and Stellar Winds.

    Nobody gives any fucks which makes for a smoove runway.

  3. #7943
    Plutonium Sanlmar's Avatar
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    In before Druff, “I got nothin’ to hide”


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      FRANKRIZZO: loled

  4. #7944
    Platinum BetCheckBet's Avatar
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    Quote Originally Posted by gimmick View Post
    The latest crypto related thingies were NFTs, metaverse and pay to earn games.

    In the early days at first glance NFTs seemed like something that could help digital artists monetize their craft if they worked outside of commercial art. That did not work out. Today most NFTs are procedurally generated crap with some of them having some value as an asset in gaming environments. Since everything costs a fuckton in the blockchain, they are mostly just links to traditional web addresses. Handful of NFTs that include anything IP related in their smart contract are as secure as your ownership of the related NFT. Someone steals your NFT and you lose your reproduction rights. It's amazingly retarded. Think of Walt Disney owning a statue of Mickey Mouse that at the same time holds all rights to use that character.

    Metaverse for the most part only uses crypto as an asset and currency. Say land rights or whatever in a virtual world that may someday be used. In case, if you're wondering how scarce virtual real-estate is, the correct answer is that it isn't. There's absolutely no reason to include crypto to any VR project. Any competent developer that's looking to build an MMO, chatroom or a marketplace in VR gives zero fucks about blockchain. There's nothing decentralized in those projects and there's no reason they don't just use their own currency. DEFI doesn't make those projects any safer. Usually the opposite and any related real-estate/currency only has value as long as the project remains popular. Devs can and will pull the plug the minute they feel like it.

    And then pay to earn. TBH i don't know what the fuck that is. Or that i would be surprised if it wasn't just another shitty MMO with gold farmers from 3rd world countries with an additional layer of bullshit. Value of game (and assets/currencies) is heavily tied to it's popularity. Ever since forever there have been gold and item selling in online games. Some in-game and some in 3rd party sites. The running theme with most crypto based pay to earn games is that they are just shittier versions of existing games.

    Most crypto projects are just variations of Seals with Clubs.
    This this this::: like absolutely so spot on.

    As a gamer you are totally right about play to earn. There is a saying in mobile gaming first you develop a profit plan then you develop a game around that. Play to earn crypto is this on crack. They are barely considered games and might as well be slot machines. Often the very worst type of loot box shit.

    I’ve been planning on making another post to update the polker thread. I read their telegram channels everyday and it’s been enlightening to see just what a fucking scam it is. And keep in mind they are on the up and up compared to 95 percent of the other crypto stuff. For instance staff uses real full names as opposed to anonymous account which is 95 percent of crypto.

     
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      gimmick: oddly most of them are less scummy than the latest diablo

  5. #7945
    Plutonium Sanlmar's Avatar
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    Quote Originally Posted by BetCheckBet View Post
    Quote Originally Posted by gimmick View Post
    The latest crypto related thingies were NFTs, metaverse and pay to earn games.

    In the early days at first glance NFTs seemed like something that could help digital artists monetize their craft if they worked outside of commercial art. That did not work out. Today most NFTs are procedurally generated crap with some of them having some value as an asset in gaming environments. Since everything costs a fuckton in the blockchain, they are mostly just links to traditional web addresses. Handful of NFTs that include anything IP related in their smart contract are as secure as your ownership of the related NFT. Someone steals your NFT and you lose your reproduction rights. It's amazingly retarded. Think of Walt Disney owning a statue of Mickey Mouse that at the same time holds all rights to use that character.

    Metaverse for the most part only uses crypto as an asset and currency. Say land rights or whatever in a virtual world that may someday be used. In case, if you're wondering how scarce virtual real-estate is, the correct answer is that it isn't. There's absolutely no reason to include crypto to any VR project. Any competent developer that's looking to build an MMO, chatroom or a marketplace in VR gives zero fucks about blockchain. There's nothing decentralized in those projects and there's no reason they don't just use their own currency. DEFI doesn't make those projects any safer. Usually the opposite and any related real-estate/currency only has value as long as the project remains popular. Devs can and will pull the plug the minute they feel like it.

    And then pay to earn. TBH i don't know what the fuck that is. Or that i would be surprised if it wasn't just another shitty MMO with gold farmers from 3rd world countries with an additional layer of bullshit. Value of game (and assets/currencies) is heavily tied to it's popularity. Ever since forever there have been gold and item selling in online games. Some in-game and some in 3rd party sites. The running theme with most crypto based pay to earn games is that they are just shittier versions of existing games.

    Most crypto projects are just variations of Seals with Clubs.
    This this this::: like absolutely so spot on.

    As a gamer you are totally right about play to earn. There is a saying in mobile gaming first you develop a profit plan then you develop a game around that. Play to earn crypto is this on crack. They are barely considered games and might as well be slot machines. Often the very worst type of loot box shit.

    I’ve been planning on making another post to update the polker thread. I read their telegram channels everyday and it’s been enlightening to see just what a fucking scam it is. And keep in mind they are on the up and up compared to 95 percent of the other crypto stuff. For instance staff uses real full names as opposed to anonymous account which is 95 percent of crypto.
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  6. #7946
    Plutonium Sanlmar's Avatar
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    https://www.bloomberg.com/opinion/ar...source=twitter


    Crypto Meltdown Claims Rolex and Patek Philippe as Victims
    Prices for the most popular secondhand luxury watches have peaked. It’s the latest sign that the bling boom might not last.

     
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      Forum Wars: OMG, there's a Subdial50 Index, LOL

  7. #7947
    Platinum BetCheckBet's Avatar
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    Canada had a major internet outage last week for 24 hours affecting millions of people and business. Caused major financial issues as well. As bad as it was people were able to rely on paper money. All crypto requires major online processing. If we ever see a major attack on the the grid or collapse of internet that crypto is worthless. It can’t be traded or moved. Without some sort of real tangibility you are really taking a big risk. It’s only a letter of time before we see a coordinated attack on telecom systems abd when that happens it will be the nail in the coffin for crypto.

  8. #7948
    Master of Props Daly's Avatar
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    Quote Originally Posted by BetCheckBet View Post
    Canada had a major internet outage last week for 24 hours affecting millions of people and business. Caused major financial issues as well. As bad as it was people were able to rely on paper money. All crypto requires major online processing. If we ever see a major attack on the the grid or collapse of internet that crypto is worthless. It can’t be traded or moved. Without some sort of real tangibility you are really taking a big risk. It’s only a letter of time before we see a coordinated attack on telecom systems abd when that happens it will be the nail in the coffin for crypto.

    Any situation where “crypto” becomes unusable comes with a situation where we have bigger problems.

    If anything this sort of discussion usually takes place with people who take the “what happens the day we wake up and the dollar went to zero”. To those people I say congratulations “you won” because The usd is worthless and BTC is now a store of value which is highly desirable……. But now the whole world is up in flames and you can’t buy anything anymore.

     
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      Sheesfaced:

  9. #7949
    Plutonium simpdog's Avatar
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    Quote Originally Posted by BetCheckBet View Post
    Canada had a major internet outage last week for 24 hours affecting millions of people and business. Caused major financial issues as well. As bad as it was people were able to rely on paper money. All crypto requires major online processing. If we ever see a major attack on the the grid or collapse of internet that crypto is worthless. It can’t be traded or moved. Without some sort of real tangibility you are really taking a big risk. It’s only a letter of time before we see a coordinated attack on telecom systems abd when that happens it will be the nail in the coffin for crypto.
    Visa/Mastercard/Debit cards were just as useless at stores/businesses that used Rogers to connect online. Visa/Mastercard aren't going donkdown.

    Households that had rogers couldn't access tv/internet/phone services. Amazon or netflix aren't going donkdown either.

  10. #7950
    Plutonium sonatine's Avatar
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    Quote Originally Posted by BetCheckBet View Post
    Canada had a major internet outage last week for 24 hours affecting millions of people and business. Caused major financial issues as well. As bad as it was people were able to rely on paper money. All crypto requires major online processing. If we ever see a major attack on the the grid or collapse of internet that crypto is worthless. It can’t be traded or moved. Without some sort of real tangibility you are really taking a big risk. It’s only a letter of time before we see a coordinated attack on telecom systems abd when that happens it will be the nail in the coffin for crypto.

    https://malpedia.caad.fkie.fraunhofer.de/actor/killnet


    or so i hear.
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

  11. #7951
    Plutonium Sanlmar's Avatar
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    New York City PSA yesterday. The northeast is ready


  12. #7952
    Plutonium sonatine's Avatar
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    Quote Originally Posted by garrett View Post
    75k is locked now imo

    This is also actually exactly what it will take to get to that 100k-400k price point. 75k locked now imo, just a matter of when. Demand, and it is real and not short-term stuff here at all. I hope you all already own Bitcoin/Ethereum because the days of an affordable Bitcoin are now long gone for real actually.

    https://www.google.com/amp/s/www.cnb...rm-nydig-.html



     
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      garrett: lol still double 8k what it was only what 2-3 yrs ago now
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

  13. #7953
    Diamond TheXFactor's Avatar
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    Only celebrities know what's best for us.

    Are you Urine?













    Last edited by TheXFactor; 07-15-2022 at 05:32 PM.

  14. #7954
    Plutonium Sanlmar's Avatar
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    Makes ya wanna go to Vegas

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    Sam describing yield farming to Bloomberg is either mind blowing candor or autism. He is brutally accurate. Will re listen cause I’m not sure I believe what I heard.

    Yield farming from ~23:00

    https://www.bloomberg.com/news/artic...levine-stunned.

     
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      Sheesfaced:

  15. #7955
    Plutonium Sanlmar's Avatar
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    SBF was born in 1992 & I think it’s pretty clear he’s on the spectrum. His age group and experience allows him to describe a Ponzi scheme unencumbered by shame. It’s all pretty standard and matter of fact.

    Which is fine except Sam is THE CRYPTO KINGPIN. I learned from Bloomberg he now has a stake in IEX Brad Katsuyama’s (Flash Boys) exchange.

    It speaks to the financial perversion of the past 20 years.

    His wealth, power and reach cannot be overstated.
    Last edited by Sanlmar; 07-19-2022 at 01:48 PM.

  16. #7956
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    Starting to see big split in video game world. Most gamers see nfts as terrible micro transactions. Companies like ea have gotten horrible reputations because of this.

    Yesterday minecraft came out and said they would not be doing nfts given how predatory they are and goes against spirit of minecraft being able to create anything for free.

    Square Enix has just come out saying they will be doing nfts for final fantasy and already huge player base is up in arms.

  17. #7957
    Plutonium sonatine's Avatar
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    no one even mentioning how tesla just unloaded 75% of its bitcoin?
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

  18. #7958
    Plutonium sonatine's Avatar
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    Quote Originally Posted by Sanlmar View Post
    SBF was born in 1992 & I think it’s pretty clear he’s on the spectrum. His age group and experience allows him to describe a Ponzi scheme unencumbered by shame. It’s all pretty standard and matter of fact.

    Which is fine except Sam is THE CRYPTO KINGPIN. I learned from Bloomberg he now has a stake in IEX Brad Katsuyama’s (Flash Boys) exchange.

    It speaks to the financial perversion of the past 20 years.

    His wealth, power and reach cannot be overstated.

    serious question; what else is he suppose to do with his money? he lucked into billions. he likes finance. so he tosses money into IEX, robinhood, etc etc. like why wouldnt he? it all seems very basic and straight forward to me. i think the fascination for him isnt shoehorning crypto into the narrative with these plays, its simply being able to have a seat at the most important tables so that in 20 years, when token/chain based technology does actually underpin all these critical financial sectors, hes been able to protect his investments (and passion) the whole way.

    hes 30 years old, in 30 years he could be running the fed. and by then, he will probably be the best person for the job.
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

  19. #7959
    Plutonium Sanlmar's Avatar
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    You clearly did not listen to SBF’s depiction of yield farming. I can not imagine what you would find more entertaining. You’ve changed.

    Maybe I have too as a poster. Understand it’s a dispassionate take on our population and the state of government. At no point do I indicate a preference. I think Tulsi is hot and compassionate but I fantasize about many things. She is irrelevant

  20. #7960
    Plutonium Sanlmar's Avatar
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    I say this with all seriousness. The Fed will not exist in 30 years.

    The Fed & Treasury will likely be one entity inside 10 years - most likely 5 depending on CBDC.

    The Fed and Treasury are already working as one.

    You know all this.

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