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Crypt0curr3nci3s

Re: Cryptocurrencies

I've too much shite in my head as it is.
 
Re: Cryptocurrencies

metta said:
I think the value is based on supply and demand.
Click to expand...

And I'm saying demand for cryptocurrency is purely on people hoping they can sell it to the next guy for a profit.

Cryptocurrency is a non-productive asset. It doesn't produce anything. There is absolutely nothing inherently valuable about it. And there is absolutely nothing backing it. In this case, the demand is purely artificial. Just like tulip. And just like tulip, once people start not buying it for higher price than before, people will start to massively dump it. Panic selling. This will cause the value to plummet.
 
Re: Cryptocurrencies

metta said:
Coinbase Cofounder Issues Serious Crypto Price Warning As Bitcoin ‘Death Cross’ Fear Spreads

[URL]https://www.forbes.com/sites/billybambrough/2021/06/20/coinbase-cofounder-issues-serious-crypto-price-warning-as-bitcoin--death-cross-fear-spreads/?sh=cf8f62f6cbc3[/URL]
Click to expand...

Mr. Bambrough seems overly impressed by the rich and famous. Just look back at his click-bait article headlines. I agree with Mr. Ehrsam’s assessment that most alt coins are trash and that virtually all NFTs are trash. I agree with metta that Ethereum is here to stay, but note that Bitcoin remains the only asset in the world with a fixed amount of supply.
 
Re: Cryptocurrencies

Top Federal Reserve official 'skeptical' about need for US digital dollar

"But Quarles said he will have a “high bar” for being convinced on the need for a digital dollar, arguing that the CBDC benefits of facilitating faster and cheaper cross-border payments may be better served by private-sector stablecoins."

"On stablecoins, Quarles said tying crypto assets to other assets (like the U.S. dollar) would be helpful in facilitating the digital flow of U.S. dollars around the world. Although Quarles said “we do not need to fear stablecoins,” the vice chairman of supervision added that there is a “legitimate and strong” case for regulating the construction and managing of such assets."


https://finance.yahoo.com/news/fed-randal-quarles-skeptical-about-need-for-us-digital-dollar-171011654.html
 
Re: Cryptocurrencies

Mystery as Bitcoin ‘billionaire’ reported dead after ‘drowning in sea’ amid fears crypto fortune could be lost forever

"According to site Teletica, Romanian Popescu, 41, drowned after taking an 8.30am morning swim in the resort of Playa Hermosa, which is known as a surfing destination because of its massive waves..

[Quoted Text: Truncated] © 2020 The Sun, US, Inc. All Rights Reserved
Click to expand...


https://www.the-sun.com/news/3195065/bitcoin-billionaire-mircea-popescu-dead/
 
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Re: Cryptocurrencies

New Jersey Attorney General Issues Cease And Desist Order Against Multi-Billion Dollar Bitcoin Financial Services Platform

https://www.forbes.com/sites/steven...-financial-services-platform/?sh=10babb8621a5


This stuff is happening quickly. All that stuff in China and now this. But there is so much growth happening as well at the same time. It will be interesting to see what happens. If they end up regulating it would that be a good thing or bad thing? Would regulating it make it safer?

BlockFi is what I have been using for a very short time.

^
"The order calls for BlockFi to stop accepting new BIA clients residing in New Jersey beginning July 22, 2021."
 
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Re: Cryptocurrencies

It will be interesting to see how all this plays out.
 
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