The ASR Cryptocurrency thread

[Chromatischism]

So... let me say it once again:

If y'all have found the 'fountain of youth' and are sitting pretty; why are crypto boosters so hell-bent to convince the rest of us to drink the coolaid? Why not just zip-the-lip and wink at fellow believers knowingly? Why make soo much noise about it? Why not just let the rest of us be swept into the dustbin of history, why y'all all smile and wave us off from the top of mount Ararat?

Me personally, I'd like to see my family and friends do well. It actually would suck feeling like you're leaving your people behind.

 

[cookiefactory]

You meant this book I assume:

The Sovereign Individual: Mastering the Transition to the Information Age: James Dale Davidson, William Rees-Mogg: 8601300369709: Amazon.com: Books

The Sovereign Individual: Mastering the Transition to the Information Age [James Dale Davidson, William Rees-Mogg] on Amazon.com. *FREE* shipping on qualifying offers. The Sovereign Individual: Mastering the Transition to the Information Age

www.amazon.com

Yes, that's the one. Thanks.

 

[cookiefactory]

So... let me say it once again:

If y'all have found the 'fountain of youth' and are sitting pretty; why are crypto boosters so hell-bent to convince the rest of us to drink the coolaid? Why not just zip-the-lip and wink at fellow believers knowingly? Why make soo much noise about it? Why not just let the rest of us be swept into the dustbin of history, why y'all all smile and wave us off from the top of mount Ararat?

Not trying to come off as flippant but it's simply human nature. Why are many religions so enthusiastic about converting non-believers? One could argue that there's some practical motivations (sustaining membership, money, other expected rewards, etc) but a lot of it just comes down to people wanting to share "a cool thing they've discovered" with others. It's the same reason we recommend movies, games, and books to our friends, and why show and tell is a thing.

At risk of casting myself as Mother Theresa, it's also a desire to spread the wealth. Beyond my own monkeysphere I want the best for humanity and that includes economic justice. Fiat systems have served humanity well but with blockchain we now have the technology to create systems that don't rely on the everlasting, incorruptible virtue of trusted agents.

 

[julian_hughes]

Not trying to come off as flippant but it's simply human nature. Why are many religions so enthusiastic about converting non-believers? One could argue that there's some practical motivations (sustaining membership, money, other expected rewards, etc) but a lot of it just comes down to people wanting to share "a cool thing they've discovered" with others. It's the same reason we recommend movies, games, and books to our friends, and why show and tell is a thing.

At risk of casting myself as Mother Theresa, it's also a desire to spread the wealth. Beyond my own monkeysphere I want the best for humanity and that includes economic justice. Fiat systems have served humanity well but with blockchain we now have the technology to create systems that don't rely on the everlasting, incorruptible virtue of trusted agents.

It's an odd kind of economic justice which gives the greatest rewards to the people who can afford to monopolise hardware and run the biggest server farms. And to speculators of course. Blockchain is a brilliant idea, and gets enough development effort that imperfections or inconveniences will be mostly removed or squashed flat, but cryptocurrency as a replacement for state backed fiat currency is hopeless. It's hard to even see it as a replacement for precious metals because those have extremely attractive attributes such as being decorative and workable and intrinsically attractive to humans. Cryptocurrency is an entertaining speculative instrument and ideological curiosity.

 

[NDRQ]

No one mines Bitcoin with GPUs anymore. They use ASIC machines.

Its not only about bitcoin, they want to ban every "proof of work" based cyrpto.
So it affects the vga market.

 

[Chromatischism]

It's an odd kind of economic justice which gives the greatest rewards to the people who can afford to monopolise hardware and run the biggest server farms. And to speculators of course. Blockchain is a brilliant idea, and gets enough development effort that imperfections or inconveniences will be mostly removed or squashed flat, but cryptocurrency as a replacement for state backed fiat currency is hopeless. It's hard to even see it as a replacement for precious metals because those have extremely attractive attributes such as being decorative and workable and intrinsically attractive to humans. Cryptocurrency is an entertaining speculative instrument and ideological curiosity.

I think it's another asset class. Financial advisors are starting to recommend people diversify into it.

 

[julian_hughes]

I think it's another asset class. Financial advisors are starting to recommend people diversify into it.

I hate to burst your bubble but 99.9% of human beings do not have financial advisors advising about asset classes. The idea that cryptocurrency has anything to do with economic justice, or any other kind of justice, is simply nonsense. It's a tool and/or speculative instrument for people who are already much wealthier than the majority of their fellow human beings.

 

[gonzoucab]

just buy bitcoin now, thank me clater

 

[julian_hughes]

Thank you clater.

 

[Chromatischism]

just buy bitcoin now, thank me clater

I wished I had listened to a friend when he bought at $4k.

 

[JuliaCoder]

Put aside the intrinsic value for a moment and look at the speculative bubble side. I think BitCoin can keep rising for a couple years. When it goes to almost zero the bubble will shift to other blockchain products. The money to be made makes it the most attractive category for startups and for software developers. So there will be years of successors to keep the bubble going. When investors bail on one product there will be plenty of others investors will flock to.

 

[julian_hughes]

I wished I had listened to a friend when he bought at $4k.

I wish I'd listened to Paul the Octopus who predicted FIFA World Cup results in 2010.

 

[gonzoucab]

i havent worked since 2017

just fucking buy now, ask questions later

 

[gonzoucab]

I wished I had listened to a friend when he bought at $4k.

i bought at 4k XD

 

[Chromatischism]

i havent worked since 2017

Congrats, dude. Hopefully you've reinvested enough of that to live off of it forever. And, do set up a will if you haven't already so a beneficiary can get access in case the unthinkable happens. Too many orphaned coins from dead people.

 

[gonzoucab]

Congrats, dude. Hopefully you've reinvested enough of that to live off of it forever. And, do set up a will if you haven't already so a beneficiary can get access in case the unthinkable happens. Too many orphaned coins from dead people.

thats the plan..

and fuck my brothers, until i have kids that shit gets buried with me LOL.

 

[Chromatischism]

i bought at 4k XD

I certainly didn't, but I did catch Solana at $32, so that helps me sleep at night, heh. Not the best but certainly not the worst I could do.

 

[gonzoucab]

I certainly didn't, but I did catch Solana at $32, so that helps me sleep at night, heh. Not the best but certainly not the worst I could do.

i was so hitted with alcoins in 2015 that i never invested on weird shit again, i should

 

[Chromatischism]

i was so hitted with alcoins in 2015 that i never invested on weird shit again, i should

Smart Contracts are where it's at. But it's a little late at this point in the bull run – it was definitely safe to do so when prices were very depressed in June/July 2021. There should be another doubling before we get overheated (2-6 months timeframe), but be careful.

 

[snowsurfer]

Invested in crypto since 2014, now I'm 2-3 years away from full financial freedom by the way of crypto. Just a little push more.