Bitcoins/Litecoins/Virtual Currencies

Onoes said:

Thanks for all the advice Arden and Flobee, I'll look into all of that and figure it out in the next couple of days. Much appreciated!

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Yeah dude, good luck. Don't get too down, you may be underwater for a little while but Bitcoin always rebounds higher than before. No reason to think it won't this time too. And think about it this way, you could be one of the poor bastards that bought in at 68000

I think there’s a real possibility that Russia has inadvertently shown all crypto could be worthless as a currency outside closed blockchain environments

you can’t easily spend or utilize it
It is very easily traceable - contrary to previous theories and evidenced by fbi seizures and it’s lack of use in evading sanctions
If it wasn’t easily traceable, it really would be a huge black market support to Russia in a very real (not just oh the US treasury boogie man says so ) - and I would venture outside the hardcore crypto anarchists few would like is
They mostly utilize a tremendous amount of energy - which is now scarcer and pricier

I don’t have money invested anymore and don’t care what it does, but outside analyzing the drop, does it actually serve any function currently and can it ever? A very traceable, cumbersome to use, energy intensive, piece of code backed 90% by the premise that others have gotten rich off of it?

Part of a closed system like axie infinity where it supports a decent product ? Sure. Very novel way to fund and create a closed environment.

Onoes buying bitcoin two weeks ago should pretty much be the nail in the coffin for Crypto IMO. Not surprisingly, in true Onoes fashion, he appears to be taking a small Central American nation (El Salvador) down with him.

Wowsers.
Looks like the coin market is starting to look like the opening scenes of Road Warrior.
Chachunk cachunk. Goooooone now

at some point the number will turn green

Arden said:

Briefly, tether has become a linchpin upon which the entire crypto market rests. It's been revealed recently that tether might be largely smoke and mirrors. Even if it's not smoke and mirrors, if a substantial portion of the tether holders were to suddenly decide that they no longer had faith in tether and cash out for USD, the crypto market would crash.

So, either way, it seems like the crypto market has a super tenuous foundation. You should look it up, because I'm not really doing it justice. But the impression I got from the last time I took a look at it was that it might be better off for the crypto market to start over under a better foundation. Because right now it's built on an inverse House of cards.

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Posted this back in Dec of last year

Tether at $0.95, it's happening.

Seems to have stabilized... for now

Looks like someone market sold about 500 bitcoin on Kraken EUR/BTC pair. Ouch.

I was a casualty of the Iron/Titan thing and Luna = Titan. Watch the supply of Luna go into the trillions like Titan has.

My butthole is so tight having narrowly escaped the Luna fiasco, going forward I'm fucking done with alts and 100% of new funds towards btc only.

Kithani said:

Onoes buying bitcoin two weeks ago should pretty much be the nail in the coffin for Crypto IMO. Not surprisingly, in true Onoes fashion, he appears to be taking a small Central American nation (El Salvador) down with him.

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If I'm going down I shall take them all with me!

But yeah, I was joking with a friend this morning that if there are any other investments he wants to see tank to just let know and I'll dump some money into them. Should be 0 in no time!

I really don't understand peoples inclination to panic and sell at a loss though. I guess my brain just goes "This money is gone.. or maybe I'll get a bunch in the future" when I put it in. It will either go up or go to 0 with my money in it. Maybe that's partly a sunk cost thing, but yeah... I think I'm just kind of an all in or all out kind of guy. You know, as evidenced by every decision I've ever made.

Rajaah said:

That's where I ended up. The alts were fun for a while but I'm done after the Shiba fiasco.

Got a question for the room: What program do people recommend for Bitcoin mining? I suppose this is a bad time to start (since I'll make less per day) but I'm preparing to go all-in with accumulation (working extra time and putting excess money into BTC) while this 20's run is going on. Never sold so I'm still dwindling on my mid-30's buy, but so it goes.

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I've never mined, but people in the know suggest Braiins OS+ | Autotuning mining firmware + Slushpool. No personal experience though