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Cryto Currency


Jellybean

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Don't really think the market is busy enough to notice yet. We're still struggling through a downtrend and overall, there isn't a stessful amount of volume to test the effects.

 

I can imagine Russia utilising blockchain to circumvent a lot of the sanctions anyway, so they'll need as many networks and miners online as possible.

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  • 2 months later...
16 hours ago, Dnk said:

MATIC Polygon 

Anyone bought any off their website ? 

You buy it on exchanges rather then their website I believe?

 

I've used it as a layer 2 to buy NFT's and avoid the ridiculous ETH gas fees. It's a pain to do but saves a decent chunk in doing so

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27 minutes ago, Dnk said:

I was thinking it was but thought i'd ask you guys, can i ask how you know ? 

The website address was the most obvious one, Polygon's address is from googling it is https://polygon.technology so most scammers try to run with domains as close to the real deal as possible.

The website itself looks terrible and there are no links that work other than the ones they want you to use. That used to be a good trick for spotting scam COVID testing/NHS communications.

I tend to just apply a blanket scam ban to literally anything crypto related that comes in via email or the sort. 

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6 minutes ago, Style said:

The website address was the most obvious one, Polygon's address is from googling it is https://polygon.technology so most scammers try to run with domains as close to the real deal as possible.

The website itself looks terrible and there are no links that work other than the ones they want you to use. That used to be a good trick for spotting scam COVID testing/NHS communications.

I tend to just apply a blanket scam ban to literally anything crypto related that comes in via email or the sort. 

Thanks a great reply 

I googled Polygon and that's when I first thought some things not right 

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2 hours ago, Dnk said:

Thanks a great reply 

I googled Polygon and that's when I first thought some things not right 

No worries

A lot of wallet scam emails going around too pretending to be Trust Wallet, Metamask or someone similar. Just ignore the lot of them. If you also see some randon coins end up in your wallet (if you have one), don't interact with them either. Another phishing scam

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7 minutes ago, Style said:

No worries

A lot of wallet scam emails going around too pretending to be Trust Wallet, Metamask or someone similar. Just ignore the lot of them. If you also see some randon coins end up in your wallet (if you have one), don't interact with them either. Another phishing scam

What a world we live in.

 

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  • 2 weeks later...

You need to ask the one World forum for an insight into that.

It likely depends on how much governments seek to regulate or ban the use of unregulated crypto with their regulated banks and retailers. With Bitcoin now consuming more electricity than Ireland it is going to have a big fall one day.

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18 hours ago, Dnk said:

Thoughts on where the bottom is ? 

Worst case scenario, we visit the 200 week moving average which is currently at $21k and moving up. Right now, it's hard to tell where things are going. Could have a bounce here and some relief back up to $40k but it's a risk off environment just now, so play the waiting game. Cash is king right now as the dollar continues to soar and the FED bumping up interest rates each month to try and combat inflation.

 

17 hours ago, rider said:

You need to ask the one World forum for an insight into that.

It likely depends on how much governments seek to regulate or ban the use of unregulated crypto with their regulated banks and retailers. With Bitcoin now consuming more electricity than Ireland it is going to have a big fall one day.

You said all of this crap last year and it was shot down, nothing's changed. Gold mining still consumes more power than Poland if you put it on a level scale with BTC.

BTC is effectively tied to traditional markets now (closely to NASDAQ and S&P500 for example whilst moving against the DXY). UK gov have also announced plans to welcome crypto so I'd get used to it being around for as long as our arses look south.

 

https://www.gov.uk/government/news/government-sets-out-plan-to-make-uk-a-global-cryptoasset-technology-hub

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1 hour ago, Style said:

You said all of this crap last year and it was shot down, nothing's changed.

How was anything shot down? You either talk, discuss and evaluate or you piss around in your own little world. As far as I am aware my two interjections in this thread have been just before a fall, to say it looks like trouble ahead. Two out of two isn't that bad, lets see how Bitcoin gets the squeeze and Thunberg'd for my pitch at three in a row.

How long do you think Bitcoin has before it get Thunberg'd? Beating Ireland is old news, apparently with a 5 fold increase in power consumption in the last two years its now beating Thailand. You cannot really compare National crypto backed by a lender of last resort with non aligned International crypto. Nations will seek to muscle in and overtake the unregulated offerings in favour of regulated and taxed offerings.

If you read around the subject the National plan is clear. Tie a crypto to the fiat and then enable it to be a normal spendable asset. In other words taxed, tracked and controlled.

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Good analysis Style, you're on the same page as me 👍

We are in a bear market, no doubt about it.

These bitcoin cycles follow a timing band of around 4years, this bull market ended Nov'21.
Assuming the cycle repeats, like it has done for the past 12years, the next cycle low is due around the EOY.
I'm also eying the weekly 200ma as the bottom, or close to the bottom, like it has been previously. We've got around 6months before the low, assuming history repeats, so i'm not expecting 20k quite yet. i'd rather play the range that btc has been in since the start of last year. 30-60k, i'll break sooner or later but buying at $30k gives a very good risk reward.
I think we are at a similar point to the blue arrow on the chart, although not guaranteed, 6red weekly candles and range low means there is good chance a bit of price relief is coming.
Global landscape is different this time around though, war, traditional markets looking rough, fed has turned hawkish, so keep stops tight if you're brave enough to trade this 😀
Personally, i trade the chop, i'm fairly proficient at it now, but i wouldn't recommend it. Stay in cash, wait until EOY when people are convinced bitcoin is dead again.

https://www.tradingview.com/x/KMlCATJu/

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15 minutes ago, rider said:

How was anything shot down? You either talk, discuss and evaluate or you piss around in your own little world. As far as I am aware my two interjections in this thread have been just before a fall, to say it looks like trouble ahead. Two out of two isn't that bad, lets see how Bitcoin gets the squeeze and Thunberg'd for my pitch at three in a row.

How long do you think Bitcoin has before it get Thunberg'd? Beating Ireland is old news, apparently with a 5 fold increase in power consumption in the last two years its now beating Thailand. You cannot really compare National crypto backed by a lender of last resort with non aligned International crypto. Nations will seek to muscle in and overtake the unregulated offerings in favour of regulated and taxed offerings.

If you read around the subject the National plan is clear. Tie a crypto to the fiat and then enable it to be a normal spendable asset. In other words taxed, tracked and controlled.

Page 35 if you'd like to catch yourself up. Your argument has been around the enviro impact of an assest class without comparing it to anything else or considering the source of the energy as was mentioned before. If BTC was to be killed off because of it's impact on the environment then it would at least be a hot topic. But because it's no better than other asset classes or traditional banking systems...

image.png.530d8730835e05efdd0adfc163233e2c.png

They can create their own assets, as you've mentioned, to utilise blockchain technology (which is looking like where things are going and will be welcomed as adoption increases) but they cannot control a decentralised asset. It's literally the point of BTC. People can buy and sell it if they want, nothing a VPN won't sort out if it gets 'banned'.

As time goes on, BTC trends up. Cycles will generally lengthen and/or returns diminish until you find yourself in a traditional market structure that people will be happy to store as "digital gold" and watch appreciate. Other cryptocurrencies will likely surpass BTC one day, a several trillion dollar asset class won't just disappear forever.

You could even argue that power consumption will cool off as this happens due to longer terms of holding.

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44 minutes ago, rider said:

How was anything shot down? You either talk, discuss and evaluate or you piss around in your own little world. As far as I am aware my two interjections in this thread have been just before a fall, to say it looks like trouble ahead. Two out of two isn't that bad, lets see how Bitcoin gets the squeeze and Thunberg'd for my pitch at three in a row.

How long do you think Bitcoin has before it get Thunberg'd? Beating Ireland is old news, apparently with a 5 fold increase in power consumption in the last two years its now beating Thailand. You cannot really compare National crypto backed by a lender of last resort with non aligned International crypto. Nations will seek to muscle in and overtake the unregulated offerings in favour of regulated and taxed offerings.

If you read around the subject the National plan is clear. Tie a crypto to the fiat and then enable it to be a normal spendable asset. In other words taxed, tracked and controlled.

Bitcoin went up 500% after your first interjection, 120% after your second. Can you interject more often please sir 🙃
Energy consumption is old news, there's plenty of traditional systems that use far more and are also vastly more polluting to the atmosphere.
Regulation isn't in itself a bad thing, it means adoption. Crypto isn't going away, governments may try to muscle in on the action but the preference will always be decentralised offerings like bitcoin or Ethereum. There's no avoiding tax on gains, majority of people pay it. 

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1 hour ago, Marty said:

Bitcoin went up 500% after your first interjection, 120% after your second. 

First interjection December 2017 - Bitcoin $20k, two months later it was $6k. Someone's maths is a little out.

 

 

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40 minutes ago, rider said:

First interjection December 2017 - Bitcoin $20k, two months later it was $6k. Someone's maths is a little out.

 

 

Price of bitcoin at the time of your first post - $12500, price 3 days later, $17000. Low one year later, $3120. High 3years later $69000

Price of bitcoin at the time of your second post $31100, price 3days late $41000, low $29300 two months later, High 4 months after that $69000.

My maths is fine, honestly, i'd give you a little more credit if you interjected prior to a market crash rather than jumping on the bandwagon after one😉 So far, you're the perfect counter indicator.
You're right though, bitcoin is bearish, but that doesn't mean money can't be made, and history will repeat. I'll remind you of this at the top of the next cycle when bitcoin is 10x the value it is now and Eth is deep in to the 5figue range. 

Edited by Marty (see edit history)
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20 hours ago, rider said:

Suspecting a bubble pop on the 4th of December that started on the 11th of December2017 was timely advice. Whatever though - I really cannot be arsed

Fortunes were made after your first post 🙂 The top was mid jan.  I also advised caution late nov'17 and called a full on bear at the start of feb'18. Bit like my post Nov'21 saying we were more or less done and to take profits. As it turns out, that was the btc top, to the day.

It's just friendly banter sir, chill. The majority of us have been through at least one full cycle now, we know the deal and drawdown risks associated with these high risk assets. It's part of the fun 😄

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