Crypto $$$

[Jack91]

So frustrating. I cashed out my xrp a month before it finally went up.
Then quickly went to put a few hundo back in at the start of it and because of the banks 24hr holding, I missed the best part.
I don't understand the backlash on the hawk tuah stuff.
It dropped yeah but tonnes of them do. She's an idiot and an easy target I suppose.

[jaydee]

My son just cashed in 1 coin, etherium I think, cost him 5k, sold for 35k.

[CJR09]

Originally Posted by jaydee

My son just cashed in 1 coin, etherium I think, cost him 5k, sold for 35k.

I am one of the idiots that bailed on ETH when it forked years ago - thought it would tank so got out - think it was just under $100 at the time - got in at about $15 from memory, so still came out s ahead, put it all into xrp haha

[prktkljokr]

For people to get ahead in crypto there's other people that have to lose, that's just how it is.

I've done ok from it, so i suppose i have the losers to thank

Don't get me wrong i have lost on a few myself, I have a wallet full of duds that I should just dump, but that's just a part of speculating on what you think might take off, you just have to take the losses and move on.

[data_mine]

Originally Posted by prktkljokr

For people to get ahead in crypto there's other people that have to lose, that's just how it is.

that's true of any and all investments.

whether it's crypto, shares, gold, property, you only make money when someone else pays more for it than you did.

[Charliewool]

Time to invest in Tron?
https://www.abc.net.au/news/2024-12-...east/104721566

[Trendseeker]

“Eric Trump said that the use of crypto by criminal groups was "everybody's foremost concern" but said traditional financial institutions were also used to funnel "bad money", speaking to Reuters at a crypto conference this week.

Who is everybody? I think he meant nobody apart from Israel, which is trying to stymie terrorist’s use of it. Traditional financial institutions have to comply with “Know Your Customer” legislation, which makes it much harder to funnel and launder money. Crypto currencies are open slather.

"Anything can be manipulated if used by the wrong people, and you have to crack down on it," Trump's second son said.

He added that the crypto industry will do "a great job" of policing itself when it comes to illicit flows.

That is just laughable. The crypto industry will do nothing to police anything. There is no central authority in crypto; that was the point of it all.
I think Trump’s second son sees a rich financial future in crypto. He just needs to get good old dad to endorse a coin after he’s already bought a ton of it.

[data_mine]

KYC/AML also applies to most on/off ramps for crypto.

so unless you're cashing in/out in north korea or russia you're not getting dirty fiat in or out - in much the same was as regular/old money. and the rest of the world imposes sanctions on those countries because of many reason, just one of which are the fact they turn a blind eye to dirty money.

crypto or not doesn't change anything except for...

the problem will come if both buyer of arms/drugs/sex trafficers etc. and sellers of those products/services agree to use crypto for exchange and are also happy to keep it as crypto instead of trying to convert to fiat (avoiding the issues above).

as for doing nothing, it's a precedent that's been set some crypto platforms WILL and HAVE implemented sanctions (for want of a better term) against hackers, effectively blacklisting the tokens/coins stolen so they effectively can't be transferred or exchanged (akin to 'marked notes' in folding money) - this has even been done to a 'mixer' (coin anonymity) service. now this only applies to platforms with smart contracts. It'd be near impossible to do with Bitcoin, as it'd require the core developers AND 50+% of all miners to agree to what would be a soft-fork. and history has shown the devs and miners treat the immutability of the BTC blockchain as well immutable. if you start messing with the history of the blockchain, you may as well re-write it to give yourself however much BTC you want. the whole system would collapse the moment they implemented anything that alters the block chain. Fraudster Craig Wright tried to use law courts to force the devs to re-write the bitcoin code to just give him a stash of BTC he claimed was his because he claimed to be Satoshi, thankfully it didn't get that far as the courts laughed at his fraudulent claims, outright lies and fabricated evidence. but had he gotten the courts to issue such an order against the developers, it'd have been interesting to see how that played out, the devs reside in multiple jurisdictions, as do the many miners that'd all have to agree to abide by the order when in many cases they'd not need to.

[Trendseeker]

Originally Posted by data_mine

that's true of any and all investments.

whether it's crypto, shares, gold, property, you only make money when someone else pays more for it than you did.

The US stock market is not a zero sum game. It has increased 9% per year on average for decades as the real value of businesses increase. Property values increase because the supply is limited in locations that are attractive to buyers, such as proximity to a city or a coastal hub.

Crypto is tokens created by software that speculators buy in the hope that others will come along tomorrow and join the party. As an investment it is like the old chain letters with promises of a windfall down the track. If the number of new buyers dries up, crypto values will go into free fall.

Bitcoin is pretty much useless as a currency. There are plenty of other cryptos that outperform it in speed and capacity, but they too are unlikely to make a transition to common use as a currency.

If speculators enter the crypto market in the knowledge that what they are buying is a bunch of gambling chips then at least they understand the game they’re playing. If they go in thinking they’re investing in the currency of the future or because blockchain is a great new technology then they’re deluded and sucked in by the hype. Although, having said that, if they time their exit fortuitously they might end up deluded but wealthier. Or they could lose the lot.

[Citroënbender]

I’m comfortable with my level of risk. Crypto doesn’t need mowing, the bad neighbours are notional and it doesn’t burn the dinner. I have specific targets for capital gain, if it enables those goals I’ll cash out as required.

[Trendseeker]

Yes, Ethereum implemented a hard fork after much resistance and acrimony, but I can’t think of one other that has done that. They resist because it goes against the tenet that the system must not be controlled by a central authority. And that leads to its weakness. The Ethereum fork was implemented after a huge theft of coins. The theft of any small amount like a regular investor’s holdings would be treated as tough luck. No refund of their losses for them.

[Trendseeker]

Just reread my post above. I meant soft fork for the Ethereum blockchain fix. There have been several hard forks for coins that aim to improve the technology, and do in most cases, but ironically don’t result in a more popular coin. The coins produced from the Bitcoin and Ethereum hard forks are good examples. Most punters like to stick to the name they know.