Detournement Posted September 18, 2021 Share Posted September 18, 2021 Exactly. Most speculators have priced in the Tether fraud and are convinced it won't sting them. Some of them will be right but you can't acknowledge Tether is a scam and claim BTC is legit. 0 Quote Link to comment Share on other sites More sharing options...
gaz5 Posted September 18, 2021 Share Posted September 18, 2021 Yeah you're right. If everyone is making huge profits it's definitely sustainable long term.... Yes, that's exactly what I said. [emoji1787]Look, I get it, you have an opinion based on a predetermined narrative that's being fed to the masses from outside of Crypto. I've been there, I sat out for years for that very reason. I wish I hadn't, knowing what I know now, but I did.But that's fine, I don't need to convince you of anyone else if you want to sit it out, absolutely feel free. I'll get over all the people telling me I'm crazy by selling to them later when they're FOMO'ing in once it becomes mainstream in that market phase. That's what's going to retire me, eventually. 0 Quote Link to comment Share on other sites More sharing options...
gaz5 Posted September 18, 2021 Share Posted September 18, 2021 Exactly. Most speculators have priced in the Tether fraud and are convinced it won't sting them. Some of them will be right but you can't acknowledge Tether is a scam and claim BTC is legit. You're trying too hard to confirm your own bias IMO.If you don't want to invest in Crypto, no one is forcing you. It's really that straightforward.Every market has risks. Some are bigger than others. The only issue I have with Crypto is anyone claiming anything as a "sure thing". It's not, just like Equities and ForEx are not. 0 Quote Link to comment Share on other sites More sharing options...
DiegoDiego Posted September 18, 2021 Share Posted September 18, 2021 Yeah, I know all about Tether but there's nothing intrinsic about BTC which ties it to Tether. Tether's share of the stablecoin market has been massively eroded over the last few months.Similarly to proof-of-work, people have seen the issues with Tether and have created better solutions.The blockchain world is rapidly evolving so of course there are going to be cock ups. Those cock ups are what brings the risk and volatility.The sharpest minds in computer science are all in the field now and increasingly that's where the brightest stars of finance, arts and gaming are congregating too. I've faith that in the medium-term these sorts of problems can be overcome.Oh, and it would be nice if people stopped misusing the term Ponzi scheme. 0 Quote Link to comment Share on other sites More sharing options...
gaz5 Posted September 18, 2021 Share Posted September 18, 2021 Yeah, I know all about Tether but there's nothing intrinsic about BTC which ties it to Tether. Tether's share of the stablecoin market has been massively eroded over the last few months.Similarly to proof-of-work, people have seen the issues with Tether and have created better solutions.The blockchain world is rapidly evolving so of course there are going to be cock ups. Those cock ups are what brings the risk and volatility.The sharpest minds in computer science are all in the field now and increasingly that's where the brightest stars of finance, arts and gaming are congregating too. I've faith that in the medium-term these sorts of problems can be overcome.Oh, and it would be nice if people stopped misusing the term Ponzi scheme. The link between BTC and Tether is twofold:1. Bitfinex. They are the BTC Market Maker. They control the price (and don't take my word this is easily researchable. Look at the BTC deposits and withdrawals from their cold wallet and compare to the 4H price chart).2. Leverage. Ever noticed how all the exchanges who offer leverage or futures to retail are mainly doing so in Tether? Particularly the larger leverage multipliers? That's essentially inflating the buying power of retail using Tether to inflate the price of bitcoin. That allows them to liquidate retail as well.I have views in leverage full stop (I won't share as too long) but that's a bigger scam for me than Tether. Leverage and Futures in exchanges is just theft IMO. It's not required and most of retail dont know how to use it, they use it to multiply the risk in single trades rather than dilute the risk by using their capital across several trades.Yes, Ponzi scheme is being used entirely incorrectly for crypto objectors, totally agree. And also agree that the technology will change all of our lives in the coming decades. 1 Quote Link to comment Share on other sites More sharing options...
DiegoDiego Posted September 18, 2021 Share Posted September 18, 2021 Cheers for that.I'd smoke a joint but never touch crack. Likewise I'll trade crypto but never touch leverage. 1 Quote Link to comment Share on other sites More sharing options...
DiegoDiego Posted September 20, 2021 Share Posted September 20, 2021 Has anyone here dabbled with TokenSets at all? Essentially you buy a token which represents a basket of tokens. So it's similar to investing in an ETF.For example: instead of doing hours of research on which de-fi protocols are worth investing in you can just buy a token which reflects the value of de-fi as a whole and easily diversify your investment. 0 Quote Link to comment Share on other sites More sharing options...
beefybake Posted September 20, 2021 Share Posted September 20, 2021 1 hour ago, DiegoDiego said: Has anyone here dabbled with TokenSets at all? Essentially you buy a token which represents a basket of tokens. So it's similar to investing in an ETF. For example: instead of doing hours of research on which de-fi protocols are worth investing in you can just buy a token which reflects the value of de-fi as a whole and easily diversify your investment. If you don't do leverage, presumably you mean a non-synthetic ETF. I'm not familiar with TokenSets. Represents can mean a lot of things. Are TokenSets physical representations of a basket of tokens, or are derivatives, swaps etc involved ? 0 Quote Link to comment Share on other sites More sharing options...
DiegoDiego Posted September 20, 2021 Share Posted September 20, 2021 If you don't do leverage, presumably you mean a non-synthetic ETF. I'm not familiar with TokenSets. Represents can mean a lot of things. Are TokenSets physical representations of a basket of tokens, or are derivatives, swaps etc involved ?From their documentation:What's happening under the covers here? Well, as Sets are 100% collateralised by their underlying assets, when you buy a Set you are sending your ETH to a smart contract that creates exchange orders for all the underlying assets required to mint the Set token and send it back to you. In the case of buying $DPI, you send your $ETH, the contract then buys the underlying DeFi tokens to mint $DPI tokens relative to the amount of ETH you paid and sends them to your wallet. 0 Quote Link to comment Share on other sites More sharing options...
Suspect Device Posted September 24, 2021 Share Posted September 24, 2021 China having a wee hissy fit today. 0 Quote Link to comment Share on other sites More sharing options...
gaz5 Posted September 24, 2021 Share Posted September 24, 2021 Hard to believe that the [checks notes]... Chinese Communist Party would be so anti-speculator! Hard lines fellas! It's hilarious.I've only been in Crypto since February and this is the fourth time (I think) China have banned it on that period.Looking back, they've been banning it every year since 2012.The real question is why they are finding it so hard to ban [emoji39] 0 Quote Link to comment Share on other sites More sharing options...
DiegoDiego Posted September 24, 2021 Share Posted September 24, 2021 The real question is why they are finding it so hard to ban [emoji39I don't think they are. As they've shown it's very easy for them to toggle laws on and off when it suits them. They don't have a drawn out process to make such a change as we would.Right now, it suits them to ban it. Possibly to curb capital flight post-Evergrande fiasco. Once crypto is in their interests again they'll allow it again.I do thank them for their timing though. So much easier to buy the dip when it lands on pay day. 0 Quote Link to comment Share on other sites More sharing options...
Detournement Posted September 30, 2021 Share Posted September 30, 2021 Listen to Episode 180: Untethered by TrueAnon on #SoundCloud https://soundcloud.app.goo.gl/Gt7Cq This lays out a lot of detail about the Tether scam. I didn't know the Colombian cartels were involved but it makes perfect sense. I also didn't know that it was only revealed Bitfin'x and Tether were one and the same when the Paradise Papers were released. 0 Quote Link to comment Share on other sites More sharing options...
Suspect Device Posted October 2, 2021 Share Posted October 2, 2021 ‘Biggest crash in world history’: Personal finance expert Robert Kiyosaki predicts economic crisis in October | The Independent Quote While a giant market crash will spell financial disaster for foolish investors, Mr Kiyosaki says the impending market doom is an opportunity for smart investors. "I like crashes, so this next crash is going to be really, really good, but it’ll bring down gold, silver, Bitcoin stocks, but the good news is a crash is a good time to get rich, so that’s why I’m optimistic and I’m very optimistic on gold silver and Bitcoin, not on stocks," he said. "So when it comes down, and it’s going to bring everything down with it, that’s when I’m going to be buying more gold, silver, and Bitcoin.” 0 Quote Link to comment Share on other sites More sharing options...
beefybake Posted October 3, 2021 Share Posted October 3, 2021 On 02/10/2021 at 12:50, Suspect Device said: ‘Biggest crash in world history’: Personal finance expert Robert Kiyosaki predicts economic crisis in October | The Independent Another person who has expertise in his own particular area ( in his case buy-to-let, and property development ), attempting to present himself as some great financial guru. 0 Quote Link to comment Share on other sites More sharing options...
iron mike python Posted October 6, 2021 Share Posted October 6, 2021 On 10/08/2021 at 13:56, Fraser Fyvie said: Bought a Pudgy Penguin for 0.8 ETH yesterday. I finally cracked.... I bought a Pudgy Penguin for >2 ETH the other day. Bitcoin has the monopoly on uncensorable hard money. Pudgy Penguins have the monopoly on Cuteness. Cuteness > Hard Money IMO 1 Quote Link to comment Share on other sites More sharing options...
Fraser Fyvie Posted October 6, 2021 Share Posted October 6, 2021 2 hours ago, iron mike python said: I finally cracked.... I bought a Pudgy Penguin for >2 ETH the other day. Bitcoin has the monopoly on uncensorable hard money. Pudgy Penguins have the monopoly on Cuteness. Cuteness > Hard Money IMO I hadn't used ETH for weeks until this morning when I tried to buy an NFT.. gas was over $100 at 9am. f**k that shit, back to SOL for me. 0 Quote Link to comment Share on other sites More sharing options...
iron mike python Posted October 6, 2021 Share Posted October 6, 2021 (edited) 40 minutes ago, Fraser Fyvie said: I hadn't used ETH for weeks until this morning when I tried to buy an NFT.. gas was over $100 at 9am. f**k that shit, back to SOL for me. Avalanche and Arbitrum are also pretty good for fast cheap fees. SOL will get another boost once Chainlink feeds are available to it over the next few weeks. It always happens because secure Chainlink feeds trigger a wider range of applications available. Just now Solana applications like Synthetify are having a horrific time and having to press the pause button because they are using Pyth feeds which are really shit. https://twitter.com/synthetify/status/1445406274091372561?s=20 Edited October 6, 2021 by iron mike python 0 Quote Link to comment Share on other sites More sharing options...
Zetterlund Posted October 6, 2021 Share Posted October 6, 2021 I've used the Avalanche network a few times recently and it really reminded me what a joke Ethereum is. I had kinda got used to paying Eth gas fees recently for all my dealings with Strongblock, maybe $30 if I was lucky on a Sunday morning but usually $60-70. AVAX tends to be about 10-20 cents. 0 Quote Link to comment Share on other sites More sharing options...
Detournement Posted October 7, 2021 Share Posted October 7, 2021 Buying a receipt for a JPEG of a badly drawn animal is something that blows my mind. Good luck to all the scammers out there. 3 Quote Link to comment Share on other sites More sharing options...
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