More crypto news for you investors:

jethreauxdawg

Well-known member
Dec 20, 2010
8,665
8,085
113
Y’all keep buying Monopoly money and diversifying with gold. I’m gonna keep going all in with ET.
 

Podgy

Well-known member
Oct 1, 2022
2,411
2,676
113
What will work is going to the casino with a lot of money. Enough to sustain what to do. Go to roulette table. Start with 10.00 and put it on red. If you win pull back the winnings and let the 10.00 ride. If you lose double down to 20.00 on red. If you lose again double down to 40.00. Eventually you will win money back but then the wheel will hit red for several times, just keep pulling your winnings back and let the 10.00 ride. Don't worry about the green. Consider it black for all practical purpose. You will get a free hotel room. They will want their money back. Or you could put all your savings, 401K money, all your retirement, everything you own on red. You will either jump with a lot of joy or you will throw up. ***********
I forgot about that option. I'm all in now.***
 

SouthFarmchicken

Well-known member
Oct 20, 2016
1,061
881
113
The link doesn't work for me. It probably doesn't like my Firefox browser.

Does the linked report provide a clearly-worded, detailed explanation of crypto that I can understand? I'm still waiting for that to happen . . .
Bitcoin is fairly easy to understand. The others, especially Ethereum and solana, are not.
 

mstateglfr

Well-known member
Feb 24, 2008
13,666
3,560
113
Bitcoin is fairly easy to understand. The others, especially Ethereum and solana, are not.
I have read countless articles, watched countless documentaries(well probably like 4) and listened to countless podcasts about the history, process, use cases, and potential for Bitcoin, and I always walk away feeling as confused as this guy.
 

Perd Hapley

Well-known member
Sep 30, 2022
3,679
3,931
113
The link doesn't work for me. It probably doesn't like my Firefox browser.

Does the linked report provide a clearly-worded, detailed explanation of crypto that I can understand? I'm still waiting for that to happen . . .
It doesn’t work for anyone. But, feel free to bookmark this post URL for a simple explanation.

Crypto is yet another financial market that has its own unique design of moving money (real money, the kind you can hold in your hand) from the hands of stupid and impatient people into the hands of smart and patient people. The end.
 

patdog

Well-known member
May 28, 2007
49,066
13,195
113
I have read countless articles, watched countless documentaries(well probably like 4) and listened to countless podcasts about the history, process, use cases, and potential for Bitcoin, and I always walk away feeling as confused as this guy.
Yeah. Anyone who says they understand Bitcoin probably understands even less than I do.
 

SouthFarmchicken

Well-known member
Oct 20, 2016
1,061
881
113
It doesn’t work for anyone. But, feel free to bookmark this post URL for a simple explanation.

Crypto is yet another financial market that has its own unique design of moving money (real money, the kind you can hold in your hand) from the hands of stupid and impatient people into the hands of smart and patient people. The end.
The only real longterm threat to crypto is the US govt, and to a lesser extent, the Chinese. But, those two entities are huge threats to the world economy in general, for very different reasons.
 

horshack.sixpack

Well-known member
Oct 30, 2012
9,245
5,278
113
What was the name of the SPS crypto guy? I don't think I've seen him post since crypto took a dump. Not sure I understand the motivation of existing on SPS for the sole reason of pumping crypto?
 

The Peeper

Well-known member
Feb 26, 2008
12,403
5,751
113
The link doesn't work for me. It probably doesn't like my Firefox browser.

Does the linked report provide a clearly-worded, detailed explanation of crypto that I can understand? I'm still waiting for that to happen . . .
That link is 11 months old, I barely remember posting it or what it was even about now. Too much bad baseball and football has happened since then....
 
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SouthFarmchicken

Well-known member
Oct 20, 2016
1,061
881
113
What was the name of the SPS crypto guy? I don't think I've seen him post since crypto took a dump. Not sure I understand the motivation of existing on SPS for the sole reason of pumping crypto?
If you invested in Bitcoin at the time of the original post you nearly doubled your investment. If you invested in Solana (FTX), at least tripled, perhaps more. Ethereum hasn’t recovered quite as well…but has popped the last few days.
 

horshack.sixpack

Well-known member
Oct 30, 2012
9,245
5,278
113
If you invested in Bitcoin at the time of the original post you nearly doubled your investment. If you invested in Solana (FTX), at least tripled, perhaps more. Ethereum hasn’t recovered quite as well…but has popped the last few days.
Did not answer my question. I can't recall the username of the guy...
 
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Podgy

Well-known member
Oct 1, 2022
2,411
2,676
113
The only real longterm threat to crypto is the US govt, and to a lesser extent, the Chinese. But, those two entities are huge threats to the world economy in general, for very different reasons.
What exactly is the world economy and are China and the U.S. just threats to it or are they essential? What makes the U.S. a threat to the world economy?
 
Last edited:

8dog

Well-known member
Feb 23, 2008
12,392
3,376
113
I
Did not answer my question. I can't recall the username of the guy...
it was like Quincy Wagmire or something like that. He would post sec only baseball stats when our website didn’t have them for which I’m forever grateful
 

horshack.sixpack

Well-known member
Oct 30, 2012
9,245
5,278
113
I

it was like Quincy Wagmire or something like that. He would post sec only baseball stats when our website didn’t have them for which I’m forever grateful
Yes. That's at least close enough that it won't bother me now. Thanks!
 

Johnnie Come Lately

Well-known member
Nov 4, 2022
399
844
93
Bet you don't like EV either and find joy on every single bad news story.
Imagine if everyone posted all the bad news stories from internal combustion engines.

It's like people that cheer when anything somewhat socialist has issues. Imagine all the stories that could be linked to capitalisms miss-steps.
This post is a good example of one the things I have always found bizarre about thinking of Crypto enthusiast (for lack of a better term). They act like its something to get behind because its a "good thing", like phasing out the internal combustion engine. Plus, its a replacement for cash, a can't lose long-term investment that will make you rich, and something that will help the "common good" all rolled it one. If it turns to ****, its will be because of some conspiracy and people "not giving it a chance" - not because any economic reality. Its all contradictory.
 

SouthFarmchicken

Well-known member
Oct 20, 2016
1,061
881
113
What exactly is the world economy and are China and the U.S. just threats to it or are they essential? What makes the U.S. a threat to the world economy?
Without typing way too much…we saw what the printing of money has done to the world economy since COVID. All western countries did it but the world economy is tied to the dollar…to the Fed…originally tied to gold. We are all tied together now. The most powerful government “body” in any country is not a branch but the US Fed, and it’s not even close. Countries struggling before COVID are in serious, serious trouble. This is all due to printing money.

We can destroy ourselves and history shows that we are and eventually will. Crypto, specifically Bitcoin when referencing this topic, is doing/has done what gold should have done. Economists, especially conservative ones, are puzzled why gold hasn’t exploded. It’s because they ignored the new tech. Bitcoin is a hedge against inflation. It’s why El Salvador has adopted Bitcoin. That has been a disaster in the short term, btw.

As an aside, the dominance of the US is tied to the dollar. The economy of the U.S. and China are essential to each other. We need China to survive but they do too. China is in decline and is getting aggressive to try to prevent it. India will be the dominant power in the East in the near future and could pass the US quicker than we would like.

I’m not advocating being nuts with any crypto, especially if you are counting on needing the funds in the future at a specific point in time. It’s not a set it and forget it. At a minimum, sell all your gold/silver and put it in into crypto and/or put 5-10% of your portfolio into it. And hell, you can just convert your dollars into USDC and get a guaranteed annual 5% return if you don’t want any risk.
 

PBDog

Well-known member
Oct 1, 2021
1,033
757
113
Without typing way too much…we saw what the printing of money has done to the world economy since COVID. All western countries did it but the world economy is tied to the dollar…to the Fed…originally tied to gold. We are all tied together now. The most powerful government “body” in any country is not a branch but the US Fed, and it’s not even close. Countries struggling before COVID are in serious, serious trouble. This is all due to printing money.

We can destroy ourselves and history shows that we are and eventually will. Crypto, specifically Bitcoin when referencing this topic, is doing/has done what gold should have done. Economists, especially conservative ones, are puzzled why gold hasn’t exploded. It’s because they ignored the new tech. Bitcoin is a hedge against inflation. It’s why El Salvador has adopted Bitcoin. That has been a disaster in the short term, btw.

As an aside, the dominance of the US is tied to the dollar. The economy of the U.S. and China are essential to each other. We need China to survive but they do too. China is in decline and is getting aggressive to try to prevent it. India will be the dominant power in the East in the near future and could pass the US quicker than we would like.

I’m not advocating being nuts with any crypto, especially if you are counting on needing the funds in the future at a specific point in time. It’s not a set it and forget it. At a minimum, sell all your gold/silver and put it in into crypto and/or put 5-10% of your portfolio into it. And hell, you can just convert your dollars into USDC and get a guaranteed annual 5% return if you don’t want any risk.
the current movement in btc is because of the 5% suggestion. when the SEC eventually approves a spot ETF then there will be 50T available to diversify their 5% into btc and not need to use an FTX exchange
 

ZombieKissinger

Well-known member
May 29, 2013
3,407
4,405
113
What will work is going to the casino with a lot of money. Enough to sustain what to do. Go to roulette table. Start with 10.00 and put it on red. If you win pull back the winnings and let the 10.00 ride. If you lose double down to 20.00 on red. If you lose again double down to 40.00. Eventually you will win money back but then the wheel will hit red for several times, just keep pulling your winnings back and let the 10.00 ride. Don't worry about the green. Consider it black for all practical purpose. You will get a free hotel room. They will want their money back. Or you could put all your savings, 401K money, all your retirement, everything you own on red. You will either jump with a lot of joy or you will throw up. ***********
I like to triple my bet after I lose, so I do better than break even. I typically go with around $50k to minimize the chance of catastrophic loss
 
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Podgy

Well-known member
Oct 1, 2022
2,411
2,676
113
So what's the world economy?
"We can destroy ourselves and history shows that we are and eventually will." Sure we can but we're not and history doesn't show what I think you're implying. The 2008 financial crisis was worse and we just came out of a pandemic where we overreacted with lockdowns.

What does history show about crypto (crypto isn't gold)?

I've read where China's been in decline for two decades. Maybe. Maybe not. We'll see about India.

I don't own crypto and don't plan to.
 
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