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File: 1643226788001.jpg (69.7 KB, 612x768, 51:64, eyr6bgjosod81.jpg) ImgOps iqdb

 No.283224[Last 50 Posts]

A thread to discuss anything related to cryptocurrency and investing

                                   

 No.283227

File: 1643227399704.gif (224.73 KB, 500x281, 500:281, 3gr4w34.gif) ImgOps iqdb

So what is everyone else doing with their crypto to crypto taxes?

I think I'm just going to try to get it as best as I can and hope I don't get audited.

I owe around $40,000 in taxes this year. I will have to file back taxes too because I never filed taxes before on crypto.

I will never be free

 No.283228

good to see crypto is finally over, never investing in it was the right choice all along

 No.283230

>>283227
I never paid them and now im in a scary position as a result. It was the only decision I could make, the difference between wealth and suicidal poverty, but life always entails risks. I was careful to cover my tracks unlike 99% of people, so the risk is just being audited and asked for detailed blockchain records

 No.283231

>>283227
Unless I luck out on a coin that goes 100x or something I'm just ignoring it.

 No.283234

>>283224
this moron is an actual head of state
clown world indeed

 No.283235

>>283232
Yes i've been doing for a long time and never used centralised exchanges. However XMR has performed extremely badly, and not being able to trade so easily can have a very high cost. It seems inevitable that decentralised exchange will solve the problem in coming years, but it isnt there yet.

 No.283238

File: 1643230270076.png (244.05 KB, 800x255, 160:51, ClipboardImage.png) ImgOps iqdb

>>283237

 No.283246

>>283239
It's just that this happens every single time crypto goes into a bear market. People come crawling out of the woodwork making claims about how crypto is done for good this time and it's going to keep going down forever until it reaches zero. And then they forget about it until we get back into a bull market and they start getting angry about how these people who don't even work just got rich out of sheer luck and no one could have predicted this.

 No.283251

>>283237
I like this piece from 2013
https://medium.com/@al3x/bitcoin-magical-thinking-and-political-ideology-16181afce143

Also, Golumbia's book "The Politics of Bitcoin" (very left wing perspective)

The grandiloquent claims about cryptos being anything but a get rich quick scheme are laughable. I don't think anyone in this thread is naive enough to take the 'ideological' aspect at face value.

 No.283255

>>283251
I use crypto to buy stuff online

 No.283257


 No.283267

>>283227
not sure how to file taxes for crypto. i think i just get a form from the exchange im using and i include that or something on my tax return?. i also worked for 3 months and i have no idea how to file taxes on that. im going to assume its fine. they already took taxes out of my paycheck so big woop

i would probably just skip filing altogether but i dont want to miss 2022's covidbux, assuming it happens again

 No.283271

>>283251
My first exposure to bitcoin was explicitly ideological. I remember anarchist communities expressly talking about it in terms of these two ideas : https://en.wikipedia.org/wiki/Economic_secession & https://en.wikipedia.org/wiki/Counter-economics . On the other hand you had techno-freedom people who were riding on the idea of hactivism which was pumped up by the rise of wikileaks affecting the real world.

But… big but… that's when you couldn't buy anything with bitcoin. At most you could barter, and a bit later, pay 5% of a bill on very limited websites ( which treated it basically as a 5% off coupon ). What bitcoin has become is different and now so much is scamming and selling stories, but the origins I remember were ideological.

 No.283272

>>283267
I dont know where you live but generally you are legally required to keep detailed record of every trade you make, even swapping from one shitcoin to another. It has nothing to do with taxes taken out of your paycheck. It can completely destroy your life. Sounds like you're using centralised KYC exchanges so good luck with that in the long term

 No.283274

>>283251
I'm not watching a shitty 20 minute video, but it is an incredibly political technology, that is why people are so angry about it. I don't know how you could be so brain-dead to not see that. There are many different views and barely anybody can see the big picture or what will happen in the long-term. There are dozens of different ideologies depending on who you ask.

One example: Buying drugs etc is still facilitated by monero; it is the only way to do private digital payments, so it is obviously important and ideological about how to legislate around that. If you ban privacy payments, then you end up needing to ban other anonymising technologies too, like those used on bitcoin, with coinjoin and record keeping on lightning network. Eventually you end up realising it is a mass surveillance system, and governments will want regulations that completely impede all development. In the long-term this is going to lead to a dystopian legal shitstorm.

 No.283298

Bitcoin is a speculative asset. It's utility as a currency is not enough to justify its current valuation. What does justify its valuation is the money spigot the Fed turned on since the coronavirus pandemic. You see the market instantly drop the second the fed mentions they're gonna let up on the money spigot because people who understand this simple fact know the time to sell is now.

 No.283389

me right now

 No.283396

File: 1643397611718.png (120.92 KB, 708x276, 59:23, j9o7katkur241.png) ImgOps iqdb

My crypto taxes are so complicated that no IRS nigger will ever understand it.

I have hundreds of trades with multiple wallets, on multiple chains and on multiple exchanges, plus I have crypto income and crypto staking.

There's going to be millions of people this year just using software tools to plug in their thousands of trades and nobody at the IRS will know how to parse through it all.

IRS will be parsing through thousands of trades from coins called HarryPotterObamaSonic10Inu, Cumcoin, CumRocket, DogeBonk, etc.

 No.283397

I didn't have money to invest in Bitcoin before it boomed but from my understanding Monero is going to be the next big thing and more discreet than BC? Can anyone recommend a beginner's book to get started?

 No.283479

>>283397
Monero has been my main holding for years, but it is a fringe opinion to say it will be the next big thing. People on imageboards tend to be biased toward it. It has replaced the original use-case of payments and darknet; however it turns out that real usage has been irrelevant for making profit. The crypto space is about hype and completely retarded, broken, meme tech has been much more profitable over the last years. It is a mistake to be looking for books and learning about the tech. The space moves so fast that you have to following posts on social media platforms, chats and github instead of looking for books

 No.283524

New round of bans down the pipe.

 No.283561

>>283251

You clearly don't live in a country with high inflation or some sort of exchange controls.

 No.283570

>>283561
There is a country with low inflation right now?
Where?

 No.283628

>>283570
Thailand.
Baht is rock solid currency.

 No.283629

File: 1643751407703.gif (40.31 KB, 500x500, 1:1, 1258526045132.gif) ImgOps iqdb

Cashed out some of my crypto into my bank account for taxes and it was a really easy process. It only took 2 days to convert it from crypto to USD in my bank, with negligible fees.

This is the most amount of money I've ever had in my bank. I transferred too much though and I will be putting what I don't need back into my crypto stack.

 No.283631

>>283629
Yeah I was surprised how easy it was to withdraw a few hundred to a Canadian account. One of the reasons I didn't get in to crypto sooner was because I thought cashing out was a long tricky process

 No.283633

>>283631
It used to be, but when cryto went mainstream the process got better.

 No.283778


 No.284371


 No.284372

>>283631
>>283633
It used to be even easier. Back in 2013 it was more common to use things like localbitcoins where it takes a few minutes to get money in your bank account, no need to even do the invasive identification process of exchanges like binance etc. I still do that but have to search around a bit more for the good traders

 No.284514

File: 1645142083003.jpg (93.51 KB, 1080x820, 54:41, 1645141556209.jpg) ImgOps iqdb

The US government is not a legitimate authority or state. It's wholefully illegitimate and it's morally righteous to destroy such an usurping evil.

We must smash it into a thousand pieces.

 No.284517

>>284514
Please list off some legitimate authorities and states.

 No.284519

>>284517

China for example, as they seek to further the interests of the Chinese people.

America just seeks to demonize and exploit the American (white) people for the benefit of a very small elite.

 No.284523

>>284519
You mean the country that banned crypto and is functionality a fascist dictatorship?

 No.284546

>>284519
Crypto crashing is good for whites, since majority that own it are leftists and non whites from shitty third world countries that are trying to hide their money from the government.

 No.284548

>>284546
It is amazing how you "people" can manage to shoehorn unrelated /pol/shit into virtually everything, and I mean really amazing.

 No.284552

>>284546
This is not an evidence-based opinion. Evidence instead reports that most crypto holders are young white computer science students/graduates etc. Sophisticated criminals are usually white too. The pajeets, south americans etc that are using it for actual functionality are generally poor, desperate and dont have many coins.

 No.284553

>>284552
So you can post your evedence?

 No.284554

>>284553
aint got time for that

 No.284555

>>284554
So you are talking out your ass just like the unpayed china shill above that you responded to.

Cool to see you are both equally full of shit.

 No.284558

>>284514
Based. Death to cryptards.

 No.284624

>>284523
You think the lying media wiuld tell you the truth? Those are fake news, China is a democracy

 No.284627

>>284624
China is actually a democracy, but not in the retarded US meaning of "democracy" where 2 rich faggots compete in show elections to further the same interests.

China is a democracy in the sense that wants to improve the material conditions of its population, the chinese government is actually quite popular.

https://news.harvard.edu/gazette/story/2020/07/long-term-survey-reveals-chinese-government-satisfaction/


It would be foolish to think that such a big country with that much population would tolerate a government without broad popular support.

 No.284628

>>284627
>China is a democracy in the sense that wants to improve the material conditions of its population, the chinese government is actually quite popular.
That is not remotely what being a democracy means. Ideally every government should be making the life of its people better.

 No.284630

>>284627
They aren't a democracy in any sense of the word at all.
It's a single party with pre-approved people by the party who only work in regards to the party's intereste.

Again exactly how a fascist dictatorship works.

Sage because your shilling for scumbags has nothing to do with crypto, which again, they banned. Banned because the party didn't have top down control of it.

"Everything in the State, nothing outside the State, nothing against the State"- OG Fascist Benito Mussolini.

 No.284660

kucoin was awesome but it's clearly not intended for americans. i moved to kraken a real exchange with insurance and shit that is regulated in the us. it's such a neutered service compared to kucoin. doesnt even have trading bots, you have to use other websites and they all cost fucking money and they only allow like 5 of those trading bot websites. i think staking is the only way to earn passive income from coins on kraken. really lame

 No.284804

File: 1645675167665.jpg (18.13 MB, 5061x6720, 241:320, Lençóis_Maranhenses_2018.jpg) ImgOps iqdb

What are you holding for WW3?

 No.284812

>>284804
Gold, ammo, and can food.

I have a bit of crypto but right now all it's doing is going down in value each month.
I am unconvinced things will dramatically rebound in the coin I currently hold so I am not in a hurry to buy the dip.

Might transfer some stuff to Bitcoin and monaro but other than that I am just sitting on what I have.

 No.286071

my brother mailed me his mining rig a while ago. he can't mine anymore at his current place, so i'll be doing it for him at mine. he was the one that got my into mining, so when he told me he couldnt mine anymore i felt like i had to help him so i offered to mine for him, he will just pay electricity. had to assemble the rig and build everything from a pile of parts. it is a veddha 6-gpu frame, but he had 8 cards, 2 were leaning against the side of it. i built an extension on one side so those 2 cards are actually supported like the other 6. worked the first time i powered it on which was cool. i got wifi set up in hiveos and verified all the cards were detected. i need to cut holes for the in/out air ports on my window for the 6 inch tubing and build a mount for the fan. it will be housed in a grow box. i'm unsure as to how loud it will be in my tiny room having another 120w fan going all the time

 No.286239

Stay waiting for this clown market to collapse

 No.286251

>>286239
It will decline but I doubt there will be a truly dramatic collapse.

 No.286339

>>284804
matches & lighters for meatspace.
Monero for cyberia.

 No.286347

>>286251
No system lasts forever.

 No.286894

File: 1648246941174.png (13.77 KB, 170x243, 170:243, Dont_buy_monero.svg.png) ImgOps iqdb

Is the only reason Monero not really used is because normies are too retarded to know how to buy it because it is hardly listed anywhere?

 No.286907

>>286894
Normies aren't interested in using crypto as a currency. They are only interested in it as a speculative asset to get rich quick.
I don't have any because I can't easily convert it into my favorite money, gold.
I have a bit of Bitcoin leftover from a deal falling through that I am holding on to hoping the price goes back up because I refuse to sell low.

 No.286941

three more weeks and i will have a grand total of 1 ethereum staked

 No.286953

I think I made a mistake last year messing with shitcoins and now I have things like DOGE and SHIB in my portfolio hoping it will go up again because it's kinda down rn.

 No.286954

Would recommend wizards stocking up on chainlink.
There is going to be a major update coming this year that will make the price go parabolic.

 No.286956

>>286954
chantards have been promoting chainlink for so many years. why do you think it be will become more valuable?

 No.287016

>>283224
>Those are fake news, China is a democracy
I hope the lying flat trend amongst the youth and the real estate bubble there finally kills that country which will mean that CCP shills like you wont get paid anymore

 No.287017


 No.287762

>>284514
Glownigger pls. You're not going to get a bunch of retarded autistic crabs to rise up against the government.

 No.287790

>>286954
Why not just stock up on ethereum?

 No.287884

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 No.288214

File: 1650573224336-0.png (164.54 KB, 1107x646, 1107:646, ClipboardImage.png) ImgOps iqdb

File: 1650573224336-1.png (18.24 KB, 625x432, 625:432, ClipboardImage.png) ImgOps iqdb

yall remember the free bitcoin websites lol? this was around 2012. they were paying out bitcoin at today's value of like $40 per video

pure agony. it hurts to remember all this

 No.288215

>>288214
actually wait it's 4mbtc, so that's $160

fucking kill me holy shit

 No.288220

File: 1650576047191.png (43.31 KB, 445x382, 445:382, ethcombo.png) ImgOps iqdb

>>288214
>>288215
Yeah I remember these slot sites that didn't cost anything to use but there were ads that could be blocked. People laughed because there was a minimum $100 payout or something but this is what I got after my second visit in late 2017. no idea how much it's worth.

 No.288221

>>288220
Oh still not enough lol

 No.288222

>>288220
that's still like $50 nowadays. pretty good for 2017. the painful thing is in another 10 years there will be some other currency that explodes that we've been ignoring

maybe it will still be bitcoin or eth? it is so painful looking back

 No.288223

>>288222
>there will be some other currency that explodes that we've been ignoring
This is why I try to have like $10 of every little new coin that I can buy. Little seeds that could someday become a tree and then I buy a lot of manga and beer. I have a million of some coins that doubled in price since purchase but are still only worth like $20 total. If even one goes up to a cent I will be very happy.

 No.288242

>>288223
what exchange are you using, and are you from the us? i wanted to do something similar to that but couldn't find a good regulated and insured exchange for americans.

 No.288243

>>288242
I'm from Canada so there are some additional things needed to take in to account such as integration with our banks 2SA stuff, etc. I settled on Crypto.com because it's all done in the little cellphone application and because their CRO coin in destined to only go up. They can be slow to adopt new coins though.

 No.288246

I realize how absolutely filthy rich I am compared to some on here.

 No.288247

>>288246
can i have some money for hosting costs

t. mod

 No.288434

File: 1650911133709.png (9.16 KB, 657x189, 73:21, ClipboardImage.png) ImgOps iqdb

helium is like a private version of the internet that long range wireless devices can use. people buy miners, which are basically just long range hotspots that extend the helium network. those miners get rewarded with a token called HNT

anyway there is a company/website called emrit that will send you miners for free. they take most of the earnings but they give it to you free so no risk. the amount you earn depends on how close you are to other helium miners. you want to be close enough so they can all verify each other's positions, but spaced enough away so they arent crowded. if you live in a city it would be very good. i live in the middle of fucking nowhere however. mine makes like $0.35 per month because there are no other miners nearby unfortunately. the miner looks like a tiny wifi router and uses maybe 5 watts of power and i haven't noticed any impact on my internet but i'm also in the middle of nowhere, perhaps it has an impact when you are actually near other miners.

if anyone wants to help me out, i can earn 5% of whatever you earn: https://app.emrit.io/sign-up?ref=3e753b9d-d647-44c2-b184-83f79d29434a

i actually spent $500 buying a helium miner last year but they took over a year to ship it out and by that time helium wasnt as profitable to mine so i ended up selling it. i will just keep using emrit since i already have it

 No.288454

>>288434
They called me back about a miner I opted in for last year and the number came up as Georgia Highway Patrol so I ignored it. The vocemail was an indioid so I didn't bother following up. Maybe if I was more urban I'd give it a shot but in this rural area it would only slow my already limited internet down.

 No.288473

>>288454
weird i never got a phone call. i just randomly got an email months after applying last year and that has been the extent of communication for the past 4 months its been running

 No.288666

File: 1651347839489.png (6.61 KB, 480x480, 1:1, monero-symbol-on-white-480.png) ImgOps iqdb

What do you guys think of Monero?

 No.288695

>>288666
In terms of technology and politics, it is the only good cryptocurrency. Everything else is maliciously leading toward dystopia. Everything else has tainted coins. There arent any other good 'privacy coins' at all so it has no viable competitors.

In terms of price, the marketcap seems irrationally low. I have significant holdings because of this. Society is moving to police transactions more, and there are huge hacks everyday, so it is inevitable that money will flow to monero. The only thing holding it back is lack of interoperability with other chains, but that will be solved eventually. People are afraid of regulations causing it to be delisted from exchanges, but it won't matter when there is a good unstoppable decentralised exchange, which could happen any day now, maybe runechain will be it

 No.288704

If I manage to 5x my money this upcoming recession and bear market, I'm going to move across the world to another country.

I'm going to learn a new language and move to a nice cheap place to live and live like a fucking king. I'm sick of this shit.

If I somehow lose all my money, I'm killing myself.

 No.288714

File: 1651438652703.jpg (525.85 KB, 1125x1272, 375:424, 1651436471053.jpg) ImgOps iqdb

This recession is going to be tasty.

I've been waiting for this opportunity for my entire life and I'm not going to miss making fat profits.

 No.288732

>>288666
I concur with >>288695.

It is comical and depressing to see Monero overlooked. Future prices/values seem impossible to predict, but as far as utility, Monero is the only coin that seems to have a purpose as far as I can tell.

 No.288740

what coins to invest in now that everything is cheap? i have eth staked, thats it for now. need something i can sell in like a year or whenever proces rise. bitcoin?

 No.288753

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 No.288754

File: 1651507495125.gif (24.49 KB, 850x228, 425:114, 1651496192151.gif) ImgOps iqdb


 No.288766

>>288754
during the Depression, Germany actually had deflation though

 No.289126

Hahaha how's everyone holding up?? LMAOI

 No.289127

>>288766
Bro who would go on 4chan and lie

Love the wojak post btw

 No.289128

File: 1652158356987.png (852.4 KB, 1200x900, 4:3, ClipboardImage.png) ImgOps iqdb


 No.289131

>>288754
Wojak posts? Awesome.

 No.289183

I lost $30,000 because UST Terras stablecoin lost it's peg and I sold it all off.

 No.289185

>>288754
is this true?

 No.289408

>>289131
is there any better way to determine low quality posts than the sad face/frog face meme pictures?

 No.289465

Bukele is such a US disease leftover from CIA infection in El Salvador, as is most libertarian ideology

 No.289622

File: 1653472009471.jpg (509.34 KB, 1403x1337, 1403:1337, 1653453704914.jpg) ImgOps iqdb


 No.289852

We are still not in the mid 2020 levels in price on BTC or many alt coins.
I think this is not the end of the well and prices will go down even further. Too many people who jumped in during 2021 craze are still holding their bags ready to dump as soon as they break even. I think eventually the drop will be so much that they will cut their losses and panic sell.
I also expect eventually tether will blow off. It is backed by nothing, they claimed they had real dollars backing each tether but New York Attorney General basically debunked them.
>Bitfinex and Tether recklessly and unlawfully covered-up massive financial losses to keep their scheme going and protect their bottom lines,” said Attorney General James. “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie. These companies obscured the true risk investors faced and were operated by unlicensed and unregulated individuals and entities dealing in the darkest corners of the financial system. This resolution makes clear that those trading virtual currencies in New York state who think they can avoid our laws cannot and will not. Last week, we sued to shut down Coinseed for its fraudulent conduct.
Now they are coping with stating they have a mixture of us dollars some bonds and some other "investments" Again cannot be proven. I think tether will collapse eventually.
Similarly I feel monero will also have a crash. I suspect many exchanges conjure up monero from thin air and pretend they have them when in reality they don't, they can get away with this due to the anonymous nature of the coin. One day people will realize they cannot withdraw their xmr's from exchanges and it will cause a mass panic and the price of xmr will also collapse.

The crash I am expecting is still not here. So I am waiting, I am waiting for the crash. BTC <15k$ XMR <90$. Then and only then I would get in and then just wait it out for a decade or 7-8 years.
Writing this to see what other wizards think about this.

 No.289855

>>289852
ive been waiting for a few years for tether to fail.. disapointing. all it takes it spending a few minutes reading into its history now and you can't feel good about its future. but somehow it remains

i dont really care what the current dollar price of crypto is, long term i think eth and bitcoin will be super valuable so ill just keep buying bitcoin and staking eth

 No.289857

>>289855
I'm not a bitcoin maximalist. I think the days of making good money with low risk from bitcoin are long gone. Bitcoin is slow, not anonymous and have high transaction fees. I think it can be replaced by a better coin, be it monero, bitcoincash or litecoin.
But this might not happen at all either. If you hold litecoin for about a decade from 2013 you would only have a 10 dollar increase, while bitcoin increased thousands fold.
Nevertheless I think fortunes are to be made elsewhere. If BTC reaches 250.000$ that would put it half the market cap of gold. An realistically optimistic prediction imho. But supposed you buy btc when it was 25k, this would only mean you had a x10 increase. Sure x10 is great but the days of buying btc for <5k or <1k like in 2013 and then waiting it out to have x20 x30 returns are long gone. I think it is probable for an alt coin that lurks around 100-300 to reach 2k-3k or even more. So a x10 return can be found elsewhere.

And I do care too much about my buy price. I think you make money buy buying it not when selling it, especially such volatile investments like crpyto. Regardless of tether collapsing I will not buy anything until it goes below 15k.

My strategy is to buy few "true" crypto in small amounts. By true I mean no premines no centralized control (though etherium people argue against premines are not that important and I find some of the points interesting). If you really look for real decentralized crypto you will only find very few of them anyways, btc is one, bhc,xmr,lt are others. I'm planning to buy 2000$ from each, ideally 20 xmr, 20 bhc, 80 lt and 0.10-15 btc and then forget about it for a decade.

 No.289858

>>289465
He was a member of the Farabundo Martí National Liberation Front as late as the Trump years (although not in good standing)

>On 10 October 2017, Bukele was expelled from the FMLN, accused by the FMLN Ethics Tribunal of promoting internal division within the party, verbally and physically attacking fellow party member Xóchitl Marchelli,

 No.289867

>>289852
>It is backed by nothing, they claimed they had real dollars backing each tether but New York Attorney General basically debunked them
maybe this a retarded question and i dont know much about crypto, but if you wanted to make a cryptocurrency exactly equivalent to a dollar, couldnt the creators just agree to sell 1 of their coins to anyone for a dollar?

 No.289872

>>289867
That would make sense right? Sell your coin for one dollar only and only circulate that. Except they don't do that. They just "print" tether like you print anything else and claim it is equal to one usd. There is roughly around 80 billion usd worth of tether and question of how much of it is backed by dollar is quite vague
https://www.ft.com/content/529eb4e6-796a-4e81-8064-5967bbe3b4d9
https://tether.to/en/tether-releases-breakdown-of-its-reserves
here is a most recent one
https://decrypt.co/100869/new-tether-report-shows-17-reduction-commercial-paper
They basically claim this 80 billion is backed by bonds, commercial papers and some gold and cash. Yet the proof is basically "just trust us". They claim they hold "something" of 1 usd value for every 1 tether they have. But we don't have any proof. They are holding a lot of shit on bahamas and virgin islands you know places renowned for their regulations.
So in an event of panic run, when people approach them and say, okay here is my 10 tether give me my 10 dollars back, they won't have enough dollars. They are basically acting like federal reserve without being federal reserve.

Problem is almost every crypto is dependant on it. If you go to an exchange you will see almost all coins are sold in either bitcoin or in tether. So if you want to buy something, you buy it on tether/something market or bitcoin/something market. Tether being a stable coin is quite lucrative for many. You pay 100 usd to buy 100 tether minus fees, so lets assume 98 tether, and then you buy a coin you like with that 98 tether. But this is probably just a fraction of tether in existance. Had they did what you said, they would have way less tether in circulation. But Tether is so widespread and so accepted that illusion become a reality.

I think it will blow off, one day it will blow and it will cause a massive crash that would put the 2021-2022 bitcoin crash from 60 to 29k to shame.

 No.289874


 No.289875

>>289867
It doesnt work. Say someone buys a coin from the creator. Then they trade that coin for a chocolate bar to a merchant. That merchant then wants real money so he tries to sell the coin. How does he get rid of the coin? He sells to anyone who will take it. Some people might be desperately fleeing their country and need a stablecoin immediately, so theyll pay $1.10, breaking the peg. Maybe nobody wants it because it's an untrusted unknown shit, so he chooses to sell it for $0.50, because thats better than nothing, so the peg is broken.

The creator needs to buy the coin back from you for $1. This way professional traders can take advantage of cases where individuals are willing to sell their coins at slightly less or more than market value, by trading with the creator in both directions. However, to be able to buy all the coins back from people, it needs to be completely backed by dollars in a bank account.

However, banks dont even hold the money you deposit in them, they have fractional reserves because they are too greedy.

 No.289884

>>289872
>>289874
>>289875
so is it even possible to create something like tether that works? it seems like in order to keep a 1:1 ratio with a real currency you need to trust someone to print the new currency responsibly, or there needs to be a way to prove that they have reserves. unless theres a way for everyone to verify independently that the reserves are there theres always going to be room for a scam in this. also theres not really anything stopping the creators from saying theyre done with the coin and theyre gonna stop buying it off people, thus crashing the price probably. seems like a stablecoin defeats the entire purpose of cryptocurrency.

 No.289888

>>289884
yeah, just design the thing so it's 100% audible and transparent. there's no reason why you can't make a wizcoin stablecoin worth $1. to creat ethe wizcoin, people deposit dollars into your public reserve, and they get issued wizcoins. when wizcoins are exchanged back into fiat, the wizcoins are removed from circulation

and with that i actually just described tether in full… but (1) they aren't transparent about their reserves and (2) make it difficult to even redeem the tether into usd

1: there is strong evidence they were creating tethers out of thin air and there's no real way of knowing since their reserves aren't transparent

2: for example, to redeem tethers into USD, you need to basically dox yourself to the company with full legal information, pay $150, then you need at a minimum $100k usd to withdraw to a traditional bank, and they charge a massive 1% withdrawal fee for the first $1M.

none of that is crypto-friendly, but that's to be expected… since every aspect of a stablecoin makes it more like fiat


so yeah you could easily make a trustworthy stablecoin, just dont do what tether is doing

…another alternative is algorithmic stablecoins, these are decentralized and transparent, but as we saw with LUNA they are not exactly bulletproof lmao

 No.289889

>>289888
meant terra, but its based on luna

*but as we saw with TERRA they are not exactly bulletproof lmao

 No.289909

>>289884
If you're trying to peg to a non-crypto like USD, you must trust in a centralized entity, otherwise it is impossible. There is no way to trustlessly do it. It is the same as trusting a bank, so yes, to me it defeats the entire purpose of cryptocurrency. Note that the issuer can also censor/freeze any funds that they want, this already happens.

People are rapidly redefining the point of cryptocurrency, so I'd make a similar argument about the majority of "cryptos" now.
The trend over the last 5 years is that centralised companies are just trying to avoid regulations by making tokens with minimal decentralisation or fake decentralisation, because the laws leave a massive grey area.

 No.289910

>>289888
Even if you were as transparent as possible, those reserves are going to be held in centralised institutions beholden to laws, possible government seizures, theft, etc.

 No.289912

So when do you think Tether will collapse? It seems the consensus here is not if but when.
And what do you think will happen to the markets when it happens? Besides the crash of prices, I wonder how the post tether crypto world will be structured. Especially given how dependent markets are today to tether.

 No.289920

>>289912
I'm not holding my breath for it to collapse. I think it's a dangerous model and it defeats the purpose of cryptocurrency, but i see no signs of imminent collapse. People exaggerate the situation. It's a centralised model that requires trust but that doesnt mean it will ever collapse. Banks somehow keep running their absurd scams with no reserves for decades.

 No.289991

>>289909
there are some stablecoins that are pegged to gold… so that is yet another option. but that is run by same tether people so the distrust remains

>>289910
well that's all unavoidable, but still it's possible to make something better than tether if you improve on the things i said

>>289912
at this point idk what will cause it to collapse, there has been so many red flags but no one cares because it's too useful to fail maybe. but if it ever crashes, theoretically all a rich person has to do is buy it all up for example $0.10 and then exchange it for $1.00… if tether has enough in reserve

 No.290014

File: 1653976277729.jpg (215.56 KB, 1170x740, 117:74, 1653975433159.jpg) ImgOps iqdb


 No.290357

File: 1654604025266.png (146.09 KB, 219x231, 73:77, ClipboardImage.png) ImgOps iqdb

>sell on ebay :) nice little money
>mine some crypto :) yeah nice little income
>sold over a certain amount so they will report your money made to the irs
>need bookkeeping software to keep track of costs of goods sold
>need to open a new bank account
>need to convert paypal into a business account
>the need to open a personal paypal account and switch all your personal stuff to that to avoid mixing personal and business
>need to file form 1040 because you're a tax piggy
>this references forms W-2, 1041, 1099, 4562, 6198, 8829
>need to file form 1040 schedule d for capital gains because we already know all this info but who cares
>this references forms 1040-NR, 1040-SR, 1099-B, 2439, 4684, 4797, 4952, 6252, 6781, 8824, 8949
>they leave it up to you to figure out if you are required to file these forms
>each form also endlessly references yet even more other forms
>figure out you need to file form 8949 because you traded crypto
>your crypto exchange doesn't give you a form 1099 because they aren't required to until 2024 or something
>need to for every single crypto transaction manually yourself because fuck you
>need to file form 1040 schedule c because anything is considered a business activity now
>this references forms W-2, 1040-NR, 1040-SR, 1041, 1065, 1099, 4562, 6198
>plus all sorts of other fun forms that get referenced when looking up all this shit online and i have no idea if they are necessary
>any slight change in financial behavior and suddenly you need to file another form

the great pain is that irs already has 99% of this fucking information. that's why when you make a mistake they can safely audit you. but regardless they make you file it yourself. why? because tax filing companies have lobbied and made laws preventing the government from just doing our taxes for us. so we are left with this bureaucratic hellscape of tax shit. something so gay and convoluted people can't even handle thinking about it and so risk penalty of perjury, felony charges, insane fines and auditing by not filing. you have two realistic options as soon as you touch stocks/crypto or business-related ventue, consult an CPA or use INTUIT's tax filing software… the people responsible for this bullshit

this is so fucking lame

 No.290363

https://www.twitlonger.com/show/n_1ss24a6

guy claims to have archived 137GB of cryptocurrency telegram chats using an exploit and will progressively release it. pretty damning claims made. no one is sure if it's legit or not, only time will tell, but no doubt some people are panicking

 No.290390

>>290363
Seem genuine. I was going to write an interesting name choice maybe he has cancer and regrets the scams he committed and realized he said that on post lel.
Also an interesting tweet reply to someone denying such exploit existed.
>I can confirm I have used that exploit throughout 2020 and 2021 to gain access to chats. Can I confirm that tweeter has the info claimed, no. But the exploit exists, so it is possible that have dirt. I'm certain gov agencies are using it to its full potentially too btw

I hope it creates enough damage to destroy this bubble but I doubt it. How many millions were lost on retarded rugpulls from last year? It will be probably in the same line. Maybe it will destroy few coins here and there but thats it. I doubt this shit will destroy Tether (as it should) and the like.
I will not delve in crypto until it goes back to 2019-2020 prices. People seem to have a very short term memory, and don't realize btc is still higher than it was 2 years ago. Collapse I'm waiting is not near enough.
>>290357
Sorry you have to endure that, they made it a mess for americans surely.
My biggest beef in crypto is with kyc, I'm perfectly fine with paying taxes but I don't want my id and passport and picture on some server in Seychelles owned by some 20 something crypto bro.

 No.290391

>>290390
you can use p2p sites like localmonero. i've cash out over $50k through there, and originally puchased on a different p2p site. never had any problems

 No.290394

>>290391
Thanks, yeah I know that place, bisq seems even better. But I am still waiting for the collapse. I still think we are not there. Compared to say late 2013 crash. I will start to buy when I see people killing themselves and have suicide hotline is at top line on variety of places. Buy roughly 5-10k$ and then forget about it for a decade. That is my plan

I think the biggest trap is to see your 1k becoming 2k and then pondering why not going all in, putting your entire savings into it and eventually get destroyed. I'm thinking about what crypto might be still alive in 5 10 15 years of time, I have few candidates. So I'm betting on those. If they become next Ethereum in marketcap welp it will be a nice profit. If they don't welp I lost 5-10k$ on some retardation oh well, roughly one year worth of my expense.

 No.290886

btc under 20k
eth under 1k

never actually bought crypto with usd, always mined it. im still minimg the same eth regardless of what it trades for in dollars. longterm it doesnt really matter i think it will go up a lot. tons of ppl freaking out though. i think this is good, all that stimulus shit was insane amyway, idk why anyone thought it wpuld just keep going up

 No.290917

I had over $2m worth, now only worth less than $400k. Life ruined again

 No.290918

>people saying they're going to buy right now

We aren't anywhere near the bottom LMAO

 No.290921

>>290918
should i do it? the last few crashes, i was always thinking its always come back before, but this time could be the last

well most people who own bitcoin are assholes, so i could feel like if i go down, im taking millions of assholes down with me

 No.290933

>>290918
do you think we are near its longterm max? if not it doesn't matter what the price is

 No.290952

>>290917
hope you lose it all

 No.290953

>>290917
>I had over $2m worth

So you didn't sell when it obviously was going to crash, like it did multiple times before?

You deserve to lose it for being greedy.

 No.290959

>>290953
I can only cash out small amounts at a time because i evaded taxes. If I paid taxes I would have literally nothing now, so I dont consider that to be a bad decision.
I should have swapped to stablecoins but im afraid to hold those too

 No.290961

>>290959
>I can only cash out small amounts at a time because i evaded taxes. If I paid taxes I would have literally nothing now, so I dont consider that to be a bad decision.

I find that hard to believe

 No.290962

>>290961
>approx 50% taxes
>more than 50% crash after the tax cutoff date
>the losses would be in a different tax year
>dont even have assets worth as much as the tax bill

 No.291039

>>290962
Who am I to judge but I would've chosen my battles more wisely. Evading tax is not worth it.
Even without the tax option you should've not kept that much money in such a volatile place. BTC can be 100k next year or 1k in 6 months. Same with all other cryptos, all very volatile.
Hope everything turns out well for you.
>>290933
>>290921
>>290918
>>290886
Imho the biggest bubble will be either when Tether collapses or a world wide recession happens. In the first there will be a massive liquidity crisis in the second people will panic sell and try to get out. When that happens only gods know how far it will fall. I see both as inevitable.
BTC went from around 20k to around 3k from 2017 to 2020. Only in late 2020 it truly climbed up 10k and stayed there. Imagine buying it at 20k in late 2017 and panic selling it on 3k in late 2018.

But personally I have few alt coins I want to invest and I am waiting for their prices to go down. (I explained why I'm not a btc max here >>289857). When they are my target price I will buy with a little bit of money and then wait for my target. At worst outcome I will lose 5000usd at best outcome I will sell it at 100000usd. That money is enough for me. I don't need to go all in and win big and I think crypto is way to volatile to invest big.

 No.291067

>>291039
>Who am I to judge but I would've chosen my battles more wisely.
10 years ago I was very young and had never dreamed that $15 BTC would turn to $60k. I doubt many people can be such a god to have such foresight

 No.291138

File: 1655991419905.jpg (137.51 KB, 736x917, 736:917, external-content.duckduckg….jpg) ImgOps iqdb

So far I earn 200 dollars a month, I save it all since I leech off parents.
after parents die,my neetbux will be 1000 dollars a month.
Do keep in mind in my country, even 100 dollars is a lot. What are my options,given that my interests is merely a simple life,maybe travelling within my own country once or twice a year?

 No.291358

>>291067
One lucky wizard.
And people who often make big money from crypto were those who forgot about it. Those who thought it might have some value sold it when it hit 1000. Many tried to sell at 20-25 and then panicked when it get down to less than 5 during between 2016-2020. Those who become rich were those who bought 1000 btc as a novelty in 2011, forgot about it and then sold it later on.

But I think one should consider the ability to take the risk alongside willingness to take the risk. IF you have say 5 million your lifestyle will not be that different compared to 10 million. What are you going to do with extra 5 mil? Buy more lambos? But if your 5 mil goes down to 250k then it will be trouble.
So I think people should have a mark and should be able to say enough is enough. Reminds me of the tale of Boomers who had millions of dollars in investments but decided to make their millinos two digits, only to lose them all on either dotcom or 2008 crash.
>>291138
Crypto is highly volatile. BTC went from 20k to 3k and from 9k to 60k to 19k in less then few years.
It is a casino. If you time it right you can double your money or lose everything too.
I suggest you to look into other investment alternatives. Owning something of value can never hurt, gold,land,real estate. They also fluctuate but not as brutal as crypto.

 No.291359

>>291358
> And people who often make big money from crypto were those who forgot about it.
The only crypto millionaire I know (that still might be lying) only has it because he used to buy drugs and left some in his wallet. It’s insane that if I had just been a junkie smoking weed all day for a decade I could be a multimillionaire now.

 No.291361

>>291359
How delusional. Don't you see that such data is pure bait?

 No.291618

Its patriotic to pay taxes ;)

 No.291927

>>291361
The point is I guess is that it really takes ironhand discipline to make lots of money, oftentimes it is purely accidental. Buy 1000 gazillion in 2009 as a meme, forget about it and then sell it for 10k at 2017-2018.
Though I remember one old guy who kept buying in 2016-2017 and become a millionaire by 2021, sadly he died out of cancer. But even he panic sold some of it when it tanked.

 No.291980

>>291618
you do realize that isnt a good thing,righ?
>muh patch of land goberned by a bunch of old farts

 No.292070

>>291927
Before things became even worse, of course.
THIS SCAM THREAD SHOULD BE DELETED

 No.292566

i'm still making like $4-6/day mining ergo>btc with my rig of 6x vega cards (that is if i were to sell as i mine, but i'm holding for better prices in the future). i dont have to pay electricity so this is actually not bad. these cards are worth like $200-250 on ebay now, i got them at prices between $600-800 a year ago. at peak crypto last year they were earning over $20/day. these are old ass cards from 2017, but they have good hash/power ratio for mining ergo, are cheap and readily available used, sturdy, have a wide stable range for clocking and volting, and have 8gb of memory so they can mine most crypto for a few more years, so i like em

if i were to get into crypto today, i would probably just make a rig for ETH and gamble on eth classic continuing to be profitable to mine when eth disappears. prices for cards are so low right now it is a good time to build a rig. prices will probably be even better in a few months when the next series of cards gets released, there will be tons of used cards for sale

 No.292567

>>292566
>prices for cards are so low right now
yeah, no thanks to pajeets like you. RTX-40 series isn't releasing anytime soon because Nvidia doesn't know how to restrict mining capabilities to keep tards like you from buying up and burning out all the new cards. You are the one oppressing gamers worldwide.

 No.292569

>>292566
> i dont have to pay electricity

so essentially you're stealing $4-6 a day from your parents

 No.292587

>>292569
$1.5-2 in my area, and not from parents, if you ever have a place that has electric included in the rent that is ideal for mining

 No.292588

>>292567
these are 5 year old cards bought used that have been mined on continuously by who knows how many other previous owners. they were shit on so hard on their initial release for being way too expensive. no one uses these things for anything but mining now. you can get readily available current gen stuff on ebay for an equivalent price that plays games much better and at lower power usage

 No.293992

File: 1662628170763.png (269.25 KB, 600x602, 300:301, 1662592228124013.png) ImgOps iqdb

The coming economic depression is going to blow your wizardly hair back.

Be sure to tuck away at least $10,000 to invest when the markets tank. Guaranteed in 5 years or so it will be worth a lot.

 No.294257

File: 1663571985513.jpg (19.66 KB, 556x200, 139:50, 1663571170322721.jpg) ImgOps iqdb

Do Kwon on the run after his ponzi collapse

 No.294258

File: 1663573118736.jpg (279.57 KB, 1080x1825, 216:365, 1663549406655253.jpg) ImgOps iqdb

Yikes

 No.294284

File: 1663756245174.png (51.76 KB, 1280x842, 640:421, 1663752409703098.png) ImgOps iqdb

We aren't even in a recession yet

 No.294285

hodl mining ergo rn

 No.294303

>>294258
I finally realized that this is what made crypto succeed more than. It happened because of the same thing that caused the real estate bubble, the tech startup bubble, and every other bubble that's occurred throughout the 2010s: QE and near-zero interest rates flooding the economy with liquidity, without a corresponding increase in productivity, leading to asset inflation.

Think about it, a digital asset with built-in scarcity, that can be quickly bought by anyone in the world with internet access, and can (seemingly at least) be used to launder money or dodge taxes… it was the perfect vacuum for the mountain of monopoly money in the hands of people too lazy to do actual investing.

And no coincidence that in 2020, immediately after the most ludicrous wave of stimulus in all of history, with so many people suddenly having spare money and nothing to do with it, cryptos mooned. Now we're headed in the complete opposite direction, with what's looking to be the greatest credit crunch in all of history.

I recommend any wizzies that haven't sold your bags yet do so promptly. The economy is going to make a rapid shift from artificial scarcity and digital bullshit to real scarcity and productivity. It's already happening with all the oligarchs buying up farmland. There will probably be inflation still for a while, not of assets, but of goods and services. After all do you think people will bother buying crypto when food, electricity, debt payments, etc. will take up almost all of their income?

 No.294307

>>294303
maybe short term things will get pretty bad. im ok spec mining for a few years and holding it for a while. this stuff always happens in waves

 No.294308

>>294303
Don't get hysterical. This boom and bust crunch has been going on for hundreds of years in order to consolidate real assets into the hands of the powerful. If you have the realistic means to get out and buy a bit of land and a hovel to live in or whatever it is you need then do that.

Otherwise, diversify to weather the storm. Pay particular attention to payment transfer platforms that might become defunct, so diversify those as well. I was recently staying in a motel for a few nights after camping for free in the woods and the guy was like
>yeah I'm one of the few motels around here to still take cash
Little bit of a shocker for me, but that's how it goes. He also listed paypal and child support cards as things he wasn't taking as payment (lol)

 No.294314

File: 1663967703241.jpg (39.37 KB, 567x378, 3:2, you asked for this.jpg) ImgOps iqdb

>>294308
>This boom and bust crunch has been going on for hundreds of years in order to consolidate real assets into the hands of the powerful.
Yes, but this boom has been building for decades, since the previous recessions have been blunted by central banks. As a result there are countless unsustainable businesses which have only stayed afloat with cheap capital. Everyone is up to their neck in debt, output of almost everything is down, near universal labor shortage, interest rates already so low central banks can't stimulate the economy, and with insane inflation they have to start raising interest rates which will make paying the debt exponentially harder. To top this all off is the energy and food crisis on the horizon due to the Ukraine war and many other factors. Electricity prices alone would be enough to gut bitcoin, which will bring most others down with it. This is not hysteria, we are in the perfect economic shitstorm.

 No.294317

are there are noncustodial solana wallets for windows? everything i see is a fucking chrome extension or some mobile nft game bullshit, or some mega wallet service website that is really just storing coins on THEIR wallets not urs

 No.294318

>>294314
The federal reserve bank is only about 110 years old. It's not the first time they did this to the US. It's just the first time that finance and economy have been so interconnected at a global level that the lucifereans are salivating and chomping at the bit in order to achieve their precious new world order.

But they can't bring down the existing one without a new one to take its place, and they don't yet have any global (((consensus))) on what to do instead, so don't do anything rash just yet. The storm is still a-brewing.

 No.294321

>>290917
>Life ruined
>Has nearly half a million dollaroos

Just buy drugs off the deep web and sell them for a profit at your country club, you avaricious bastard.

 No.294347

>>294317
ok just found something called atomic wallet that completely solves my problem. time to accumulate

 No.294348

>>294347
Solana is a centralized shitcoin

 No.294385

>>294348
who cares. if jp morgan and mr bigjew are buying up jewcoin im gonna tag along

 No.294637

>>294303
Good analysis fellowiz.
History rhymes sometimes. I feel we are in late 90s. Anyone could put some money in some tech stock and make x3 x5 the money. There were many tales about people becoming millionaires, or millionaires losing everything back.
There was also a recognition of a looming recession. This was quite unlike 2008 when the collapse came very fast and very hard. EVERYONE knew internet companies were in a bubble but no one knew when it would crash. You would have people talking about how crash was coming sine 1995 but then realize that people made enormous money between 95-99. So you invest only to lose everything in 2000-1.
Everyone can be a financial genius in booms. And always remember that most "crypto" investors, especially the ones you see on image boards are zoomers who don't even remember 2008 recession that much. They are in their early 20s and never seen a proper recession. The next one, whenever it comes will be quite lifechanging for them.

 No.294659

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 No.294660


 No.294668

File: 1665680312927.gif (3.98 MB, 1264x603, 1264:603, 1665680154076419.gif) ImgOps iqdb


 No.294770

File: 1665997976444.jpg (89.64 KB, 1080x682, 540:341, 90e9d8be2749759be97580b7d1….jpg) ImgOps iqdb

Looks like nobody wants to talk about crypto, the market or investing after the market collapsed.

I'm laughing at all of you manbabies that lost all of your money

 No.294771

>>294770
It's kind of a slow board and I'm pretty much out of the game, so I don't always have much in the way of rare information or novel hot takes. But keep fighting the good fight because there are going to be a whole bunch of people going through the same thing and learning the hard way about international finance and geopolitics. If I'm around if and when IT'S HAPPENING maybe I'll chime in. At this point, it's probably about enough that people remember that it's always HAPPENING and that it might start HAPPENING again pretty soon and that they're better off thinking and planning a head a little bit, and asking questions from people putting out an offer about having been somewhere around the block before.

 No.294796

>>294770
not much to talk about in terms of crypto mining. gpu mining isnt really profitable. with no profits, where is the interest?

it's identical to old western cycle called "boom and bust" where boom towns developed around gold mines or other resources, and then became ghost towns when the single resource was exhausted

 No.294870

>>294796
>>294770
>>294771
I'm still waiting to buy in. Was interested in it since late 2020 but I was perfectly aware it was a bubble. I was really tested this June when I saw prices go to 17k but I'm still waiting to buy in at 10-15k.
I'll just buy few cryptos that I believe will survive. I will hold them for 7-10 years then sell them or whenever they reach x20 profit.
But I absolutely agree that this is not an investment at all but a gamble. I will gamble roughly 4-5$k at most 10k$. It's basically like investing in pokemon-magic cards and beanie babies.
I believe there are few crypto that are decentralized enough and tested and tried to hold or even gain some value on the long run. Monero and Litecoin are two things that I wait out. Monero might be cracked down or increase its popularity due to anonmyty and I believe after bitcoin mining becomes far difficult miners will revet to other proof of work coins. I think litecoin is one of the good candidates as it is quite old and established and do not have chinese mining syndicates or schizo ceo's behind it.
I'll just buy 5k worth wait 7-10 years and see what happens. It goes to 10k? great. Miraculously goes 100k? awesome (I highly doubt one can more than that, even 100k is extremely optimistic and delusional level). If everything tanks? Oh well lost 5k$ in 2022 to some memeshit.
Bonds-stocks-real estate-farmland those are true investments not meme coins. Pure gamble.

 No.294877

>>294870
>Pure gamble
in the last 20 years the US m2 money supply has quintupled, looking at the 20 year period before that it tripled. if we extrapolate that then in the next 20 years we can expect the m2 money supply increase by 300-500%. the supply of monero on the other hand is projected to increase by 22% in a span of 30 years. given that the US dollar is controlled by a for-profit company that does not have your financial interests in mind, and monero is decentralized and has been designed to be scarce, i dont know where your uncertainty arises. if youre autistically focused on a minute by minute price graph then yeah it does look like a gamble, however eventually the market can determine if something is more valuable than another, and since monero is objectively a better currency than the US dollar, that makes it more valuable.

 No.294885

>>294877
Your first point concerning inflation is valid. But that is nothing new to me. People were talking about inflation in 2008 crisis too and even before that. Staying on cash is stupid but that doesn't make your investment valid. There must be other reasons to hold an investment.
There is no guarantee that monero will last next 10 years. There can be massive crackdowns on darkmarkets and places like bisq and localmonero. There can be a better faster private currency. Pushing monero away. You cannot predict the future.
Also, riddle me this. Would you own worlds entire gold, entire crypto? or worlds entire farmland or companies? Companies produce something they create value, farmlands provide you food every single year. Crypto and Gold just fucking sits it produces nothing it creates no value. Now there are some technicalities ofc, gold is used in some applications but most gold just sits there in a fucking vault or basement.
This doesn't mean monero might not be more valuable in future I believe it will be but I don't want to bet on it.
You can invest in a total market index fund + government bonds and Unless there is a communist revolution you can bet that you will increase your money. Roughly 5% after inflation. Read up on boggleheads if you are curious.
For me crypto is way too risky. If I have 100k I would put no more than 10k on crypto and put rest on some vanguard target retirement fund. If you want to go all in to monero be my guest. I am more than happy to have smaller returns for smaller risk.

 No.294901

>>294885
yeah, i would rather have the actual wealth instead of its representation, but that can be a lot of work and not everyone has the capital to get their foot in the door on that kind of thing. plus it has nowhere near the potential for gains that crypto has. if crypto is successful it will replace fiat entirely, meaning every fiat dollar in existence will go into crypto. that is an enormous gap that has to be bridged, and i believe it will be, its inevitable. like how after the french revolution monarchy was done for, weve already had crypto gain global recognition and theres no going back. and just like how im sure there were many failed revolutions against monarchies, the government might crack down on monero. it doesnt change a thing though because the wheels have already been set in motion, when its governments vs the people, the people win.

 No.294986

>>294901
To give some counter arguments. Just because crypto might have a future (it may not) doesn't mean the crypto as it is today might be prominent 10 years later.
You could predict internet would've been a big thing but might have lost all your money to pets.com, or panicked after dotcom bubble.
Or you could've be very smart and predict that search engines would become very important and go all in to altavista. Google would come up years later.
anyways my point is it is a gamble can win big but also loose all. I rather keep my money on safe and sound things than go all in on some bet. I'm content with the low returns.

 No.295038

It's amazing and lucky as fuck how I managed to save my money from Celsius and Luna Terra.

I used both platforms, but I pulled out of Celsius for Luna Terra, then I sold at a 20% loss when the Luna Terra ponzi was collapsing.

It's honestly I miracle I didn't lose all of my money and only taking a 20% haircut, which equates to tens of thousands of dollars.

Now all of my money is just sitting in a savings account gaining 2.5% interest a year.

Watch out for ponzis and scams wizzies

 No.295112

>>295038
put it in a vanguard or ETF at least.

 No.295362

>>294317
>>294347
>>294348
>>294385

This retard actually bought Solana, when I specifically said it was a centralized shitcoin.

Now Solana is dumping massively because the FTX Jew propped up the centralized shitcoin and is selling all of their reserves.

You can't even deposit or withdraw Solana on crypto.com because they froze it.

Retard, should have listened

 No.295406

>>295362
no worries, i didn't actually acquire any meaningful solana. i was using unmineable for a few days to get paid in it but the rate was terrible. at this point im mining at a loss anyways

 No.295409

>>295038
buy bonds or high dividend stocks. 2.5% is dumb

 No.295460

File: 1668425901199.png (14.69 KB, 608x195, 608:195, 1668425732200054.png) ImgOps iqdb


 No.295461

Apparently this Bankman guy was a big name in the effective altruism and rationalist community. Now you can see how altruistic utilitarians really are when they manage things (pure hybris).

 No.295462

File: 1668428611882.jpg (348.26 KB, 1170x765, 26:17, 1668428492017039.jpg) ImgOps iqdb


 No.295679

File: 1668880746264.png (19.81 KB, 584x134, 292:67, 1668878964463007.png) ImgOps iqdb

Got rugged for $27,000,000 by a Jew in the Bahamas

 No.295684

>>295679
Why does god only give money to the drooling retards who don't know how to use it?

 No.295701

>>295684
He gives his toughest battles to those He loves the most. Or at least that's what I tell myself

 No.295792

File: 1669119858402.png (19.51 KB, 299x346, 299:346, 1669117401030023.png) ImgOps iqdb

How much crypto are you buying?

 No.295796

Bought the absolute bottom of the crypto crash and I've already made a couple thousand dollars.

Yeah, that was the bottom. I bought the absolute bottom in 2019 and I got the same feeling when I just bought a SHITLOAD of crypto. Like, 95% of my networth is in crypto right now.

Let's fucking gooooooo.


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