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Info: No Crypto For You? Can they reconsider their position? Did I inform MA about Crypto TOO SOON?

Msturlese said:
the first time i saw that crypto with 15% interest out of nothing i saw a future unavoidable fail
simply was interest out of thin air...

There is nno free lunch in the markets (J.m. Keynes)
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Keynes never lived to experience Crypto.
 
once i published a paer that was "price moves are not logarithmic"
a fall of 10% follwed by a rise of 10% does not bring back the price cause of the second number is calculated on a differetn base
a fall of 50% need a rise in teh 100% so recoup valued
a fall in 90% requires a jump of 1000% to get the said number
a fall of 99% require... 10.000%
now i need excel... when we pass from 80 usd to 0,00027416 USD to regain previous we need... damn i cant read the number mate... :)

and the free lunch was in term of "interest out of thin air".. to gain interest need to put "money at work"
trading is another thing.. opportunistic dead cat bounce, happens :)
tell to the forum user that wrote i purchased them at 3 cents.... he need some more "1500% to break even"......
 
Msturlese said:
once i published a paer that was "price moves are not logarithmic"
a fall of 10% follwed by a rise of 10% does not bring back the price cause of the second number is calculated on a differetn base
a fall of 50% need a rise in teh 100% so recoup valued
a fall in 90% requires a jump of 1000% to get the said number
a fall of 99% require... 10.000%
now i need excel... when we pass from 80 usd to 0,00027416 USD to regain previous we need... damn i cant read the number mate... :)

and the free lunch was in term of "interest out of thin air".. to gain interest need to put "money at work"
trading is another thing.. opportunistic dead cat bounce, happens :)
tell to the forum user that wrote i purchased them at 3 cents.... he need some more "1500% to break even"......
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the 3 cent forum user was me... bought some more later one to cover, but everything sold now, because Do kwan is going to let Luna die and start over, the idea is to give holders before the crash 40% of the new token (Luna2?) back. We will see how this shitshow will end.
 
Aloisius said:
I asked MA to take Bitcoin a decade ago. They said no. I assumed it was about money laundering. It's now the trend of the decade and someone we know is missing the boat.

I wish MA would reconsider crypto. At the very least they should consider stablecoin implementation. Just because they got stung by failed crypto projects shouldn't mean no more crypto implementing or considering. Even now with the KYC laws protecting the participants in the crypto space it's much safer for corporations to get involved.
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cointelegraph.com

Bitcoin price target now $13.5K as BTC trader says ‘exit all the markets’

Bitcoin and altcoins are due more losses, say analysts as BTC price action cools around $16,500.
cointelegraph.com cointelegraph.com

How is bitcoin looking now ? 📉
 
The time of the OP was definitely a good time to get in.

Catching the right exit, though ....
 
The amount of times friends told me it's a good time to buy: 9999 times.

The amount of times friends told me it's a good time to sell: never.

No, it's not a bubble game. Of course not! 😂

Keep buying something that no one really wants to use and everyone that buys it have the same plan, to hold it for a couple years and then sell for 10x what they payed for.
 
Fanan said:
Keep buying something that no one really wants to use and everyone that buys it have the same plan, to hold it for a couple years and then sell for 10x what they payed for.
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Sounds a lot like.. Entropia universe...
 
Spawn said:
Sounds a lot like.. Entropia universe...
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Maybe if you are a reseller like we have some in Entropia yes, something like 1% of the player base? Sorry I don't know many resellers.

While on crypto world EVERYONE is the reseller and there's not one single soul that want the coin to buy anything at all.

Do I really need to explain you this? Dang I m not even a trader and I did profit by reselling 3 of the 4 unL items that I ever owned. While all my friends that own crypto lost around 2/3 of the investment so far.

If you are a terrible trader in EU that losses peds almost every month then yeah I would also say that they look the same as a crypto owner.

GL out there crypto friends!
 
Fanan said:
Maybe if you are a reseller like we have some in Entropia yes, something like 1% of the player base? Sorry I don't know many resellers.

While on crypto world EVERYONE is the reseller and there's not one single soul that want the coin to buy anything at all.

Do I really need to explain you this? Dang I m not even a trader and I did profit by reselling 3 of the 4 unL items that I ever owned. While all my friends that own crypto lost around 2/3 of the investment so far.

If you are a terrible trader in EU that losses peds almost every month then yeah I would also say that they look the same as a crypto owner.

GL out there crypto friends!
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What are you trying to say here? I bought most of my crypto when the pandemic hit on Thursday March 15 in 2020, I knew it was a good opportunity. Prior to that I sold most of my gear in Entropia and my deeds and my landarea and got some mining gear for mining crypto (October 2019).
When Bitcoin hits 4.800 or Ethereum hits 200 usd or Cardano goes back to 2 dollarcents.. then I will be at a loss. If it doesn't.. then I will be smiling all the way through. Yeah, I don't have the big guns anymore, still with my stolen imperium and my adjusted katsuichi. But there's a smile from ear to ear on my face. Crypto was one of the biggest opportunities of that period and I am glad I dove in deep.
 
There's not much trust with exchanges anymore, especially after the FTX scandal. Plus the luna crash not long before that, and multiple hacks all over the place killing coins. I dabbled a bit, did well on the first big shib climb. Then I tried vvs mining with crypto.com the interest rates were crazy. I sold nearly all tokens I owned now, apart from a few £100's worth of tonic (2 billion tokens or so) i locked in a vault. So tiny exposure remaining on these sh*tcoins.

I get that feeling everyone is exiting now, if they can. BTC was down to £13k, when I looked earlier (was £58k per token at one point). I've got no regrets giving it go, although glad I mostly sold out and withdrew. I very much doubt I'll throw more money at it, looks like it's all slowly dieing.
 
Atrax said:
The time of the OP was definitely a good time to get in.

Catching the right exit, though ....
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this is the puzzle ... damned if i didn't just sell some ltc before this big jump sigh
 
RickEngland said:
There's not much trust with exchanges anymore, especially after the FTX scandal. Plus the luna crash not long before that, and multiple hacks all over the place killing coins. I dabbled a bit, did well on the first big shib climb. Then I tried vvs mining with crypto.com the interest rates were crazy. I sold nearly all tokens I owned now, apart from a few £100's worth of tonic (2 billion tokens or so) i locked in a vault. So tiny exposure remaining on these sh*tcoins.

I get that feeling everyone is exiting now, if they can. BTC was down to £13k, when I looked earlier (was £58k per token at one point). I've got no regrets giving it go, although glad I mostly sold out and withdrew. I very much doubt I'll throw more money at it, looks like it's all slowly dieing.
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my confidence has waned slightly - tether was a big scam and that story has yet to break - ftx was a part of it. on the one hand. on the other i feel like the banksters would do exactly this against an enemy they got no control of. this might be a nice last chance. or just a moderate opportunity. ill keep a small amount in. but people still need to know the first rule - not your keys, not your coins - keep your tokens and cash off the exchanges. especially right now
 
Crypto prices are not driven by real economic flow
they depend on "true believers" confidence and "bargain hunters" prospectives
when they get bashed, proces contracts, or collapse.
if i recall the Nick Leeson crack in Tokyo, or the French trader crack, they were extremely significative but a fraction of the frauds we saw in the "crypto" unregulated world in 3 years
personally i recall i purchased a TINY amount of BTC at 150 eur and sold them at 34.000 ... was surprised to see 50k+ and graph pattern was exactly an exhaustion.
probably somewhere between 6000 and 8000 they will stabilize.
personally i just buy MATIC to pay for the polygon chin fees on products.
i feel Crypto useless as currencuies and instead smart contract and blockchain technology extremely promising.
i sometimes thisk to the Crypto.banana of El Salvador where a poor country has lost most of his state investment .... they should have given grants to farmers instead of speculating......
 
Msturlese said:
they depend on "true believers" confidence and "bargain hunters" prospectives
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Don't forget "Market Makers".

Market symbols are often really counter-intuitive. This makes solid sense because in fact you're always hoping to run against the market, and the market is really "what most people are doing".

I don't think I've completed a trade in 6 months myself. I sadly have a big (for me) stack of AVAX though and I think I'm about to start swing trading again. IDK probably revive my bot because the market is really dripping right now, with many of the "majors" having 5 - 10% weekly swings or more.

It's scary for investors but it's getting to be prime time for traders. Watch the reports on people pulling capital from exchanges, right now it's being used to support a narrative of fear, but it's also thinning the pools so that when people move, there's less on hand and prices move more sharply.

Of course, any of this being reasonable depends on the assumption that crypto (or something comparable arising from it) will eventually trump fiat.
 
This thread is aging well. :hammer:
 
RemindME! 2 years "reply to this thread."

oh wait this is not reddit. Anyway... let the countdown tick
 
Sulje said:
this
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I've always felt financial firms are more interested in the blockchain tech than the crypto currency. Bit like xrp (ripple) investors convinced their tokens will be bought for millions. I think if anything a bank will buy or licence the tech to run real world currency on it. Or build their own.

Ironically there's a lot of unsavoury money in crypto, while the reason governments are interest is to create a full auditable ledger on the chain. Do even 'honest' people want a full auditable trail of their money? I don't think so. There tends to be alot of political mission creep with such power and transparency. Very much 1984 (film) control.

But for now 'trust' is a huge problem, if crypto owners can't trust exchanges. Once that damage is embedded it's very hard to rebuild. Because of that, I think crypto now will struggle to relight their fire. Not to mention huge incoming regulation, and crackdown on the villians using it. Regulation might help, but it doesn't equal faith in the system.

Anyway there's always something new on the horizon.
 
RickEngland said:
Bit like xrp (ripple) investors convinced their tokens will be bought for millions.
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This example is particularly funny. Ripple is like the redheaded stepchild of crypto. Hated and crusaded against for a long time, and often held up as an example of a "backwards" crypto project.

XRP was created to do exactly what you said:

RickEngland said:
a bank will buy or licence the tech to run real world currency on it
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This is actually a fine (precise) summary of the XRP mission. And every person who thinks their XRP are going to "pump to bitcoin prices" is telling you exactly how much they actually know about what's going on :rofl:

It can operate on fractions of course, but $1000/XRP would practically invalidate the purpose of the token. 🤷‍♂️
 
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