MISC Crypto Crew (MCC) Vol: XII: Retirement plans and exit scams

[dmaaack]

is ETH rip in peace?

[iifymbro]

Yeah, I've heard this argument before. I don't buy it because BTC wasn't defacto regulated by futures etc. during each of those dips. It was the crypto wild west. There was never a mainstream boom like this before.

That's all over now.

That might change if BTC's tech is massively overhauled (atomic swapping, >1000 TPS etc.) which will lead to mainstream adoption. People will be using mBTC at that stage though.

Mainstream adoption is a meme when it comes to price. It's pumped massive %'s with little or none of that so why the fuk are people suddenly so worried about it now... obviously isn't a requirement.


Lol at thinking CME/CBOE futures with their chit-tier volume for most of the time they've been active have some kinda newfound control over crypto. You think whales/smart money weren't controlling btc back in '13-14? That it was all organic and just doing it's thing right up until futures came online end of '17? Got a bridge I wanna sell you brah.

As for the newfound mainstream awareness of crypto....that's a very good thing. Dunno why you'd think otherwise. People are greedy af, now that they know about this chit what do you think is gunna happen when the green candles start stacking up and the MSM starts shilling it hard again?

[gixxer0.6g]

Boring tech talk. I prefer Bobby Lee hopium talk like his last tweet

if history repeats perfectly, then the current bear market for #Bitcoin would bottom out at $2,500 next month, in Jan 2019.

And then the next rally would start in late 2020, peak out in Dec 2021 at $333,000, and then crash back down to $41,000 in Jan 2023.
Something like that?������

[juvefan]

It’s not an echo chamber I just feel that the DAO hack and the subsequent fork are evidence of the more centralized nature of ethereum. We agree on the facts, from a technical perspective I do not believe Vitalik and crew can forcefully upgrade everyone’s nodes, so technically the network is decentralized. You view the bitcoin development community as a “fragmented cess pool”. I agree that it is fragmented but I see great value in that. I am open minded I just don’t think we are on the same page here. We can both be pro crypto and not agree on the centralization of Ethereum

There is no great value in a fragmented community. Bitcoin is a beta version software and will never come out of beta, and already has been overtaken technology wise because of this

[eternalone423]

My point is you're allergic to money.

God bless.

lol. Not at all. No one here knows my financial status. I could be playing with burrito and bottled water money for all you know.

I could even be a low key whale.. Who knows?

We don't know what crypto is going to do from here. We will all see whether we like it or not. We don't have to point fingers and critic what people are buying by saying folks are allergic to money, smh. That's backward thinking, but thanks for your opinion.

[Austanian]

You lost me at ~90% of new coins being mined in central washington.... 90% of USA mined coins maybe. But bro.... do you even china?

yep my bad "In the US 90% are mined in central washington." Not the best statement on my part, but it is what it is.

My point is that EVERY new coin mined will exert downward pressure on current prices until cost per coin to manufacture+ROI equals the futures price.

So 6 million+ in downward pressure per day. This isn't to say the bulls couldn't fight it, but eventually the economics of arbitrage will force an equilibrium price.

[Witrebel]

There is no great value in a fragmented community. Bitcoin is a beta version software and will never come out of beta, and already has been overtaken technology wise because of this

I think you under value bitcoins resistance to change. Are there more feature rich technologies out there? Sure. Are they technologies I want to trust as a reserve currency? No. Yes it’s still pretty much Beta, but I have a bullish outlook on its ability to succeed at its stated purpose once a useable and scalable payments infrastructure is fleshed out. You may not realize this, but this whole “crypto” thing is a direct result of the 2008 financial crisis. BTC is a reaction to central banking and a flawed financial system. Do not underestimate the signifance of that. This isn’t about crypto kitties, it’s about sound money.

yep my bad "In the US 90% are mined in central washington." Not the best statement on my part, but it is what it is.

My point is that EVERY new coin mined will exert downward pressure on current prices until cost per coin to manufacture+ROI equals the futures price.

So 6 million+ in downward pressure per day. This isn't to say the bulls couldn't fight it, but eventually the economics of arbitrage will force an equilibrium price.

Yeah I figured that’s what you meant, just wanted to clarify haha. I think that the vast majority of modern miners are probably “for profit” entities, so they are likely to operate the way you describe. Prior to 2015/2016 I think a fair portion of miners were in it to accumulate BTC and only sold what was necessary to pay the overhead costs or to expand operations. I certainly fit into that category when I mined. Now those miners are likely a slim minority at best. Certainly something to keep in mind though, as that downward pressure is definitely real. How do you see that mechanism changing in 5-10 years when we start to see transaction fees accounting for more of the income than the block reward?

[mrc19888]

My God how good would life be if volatility stayed this high? I'm still trigger shy considering BTC has fallen off the rails but this is genuinely exciting every day.

[PowersKenny]

A friendly reminder that your supposed technical analysis doesn't apply . Your only hope is cope..sshhh only tears now

[mrc19888]

A friendly reminder that your supposed technical analysis doesn't apply . Your only hope is cope..sshhh only tears now

Don't you have something better to do with your Saturday than to try to chit on people on the internet? This thread has actually been the friendliest thing I've probably ever ran into online. I'd like to keep it that way. We actually discuss our beliefs and support each other without getting too out of line. It's almost like we're all decent humans in here besides the occasional turd that pops in (aka you). sheesh

[juvefan]

I think you under value bitcoins resistance to change. Are there more feature rich technologies out there? Sure. Are they technologies I want to trust as a reserve currency? No. Yes it’s still pretty much Beta, but I have a bullish outlook on its ability to succeed at its stated purpose once a useable and scalable payments infrastructure is fleshed out. You may not realize this, but this whole “crypto” thing is a direct result of the 2008 financial crisis. BTC is a reaction to central banking and a flawed financial system. Do not underestimate the signifance of that. This isn’t about crypto kitties, it’s about sound money.




Yeah I figured that’s what you meant, just wanted to clarify haha. I think that the vast majority of modern miners are probably “for profit” entities, so they are likely to operate the way you describe. Prior to 2015/2016 I think a fair portion of miners were in it to accumulate BTC and only sold what was necessary to pay the overhead costs or to expand operations. I certainly fit into that category when I mined. Now those miners are likely a slim minority at best. Certainly something to keep in mind though, as that downward pressure is definitely real. How do you see that mechanism changing in 5-10 years when we start to see transaction fees accounting for more of the income than the block reward?

Which is never happening. You’re contradicting yourself, its either “resistant to change” or “fleshed out infrastructure” you cant pick both. Lightning network is great, but its very centralized

[Witrebel]

Which is never happening. You’re contradicting yourself, its either “resistant to change” or “fleshed out infrastructure” you cant pick both. Lightning network is great, but its very centralized

I don’t think you understand how the lightning network works. It can not subvert or alter the money supply. It is simply a mechanism of exchange. Does it really seem far fetched to you that time sensitive low trust transactions like a cup of coffee or a micro payment stream could happen on a lightning network or other layer two solution, while time insensitive high trust transactions like buying a house or a car or any other high value exchange could happen on chain and simply wait the hour for proper 6 confirmation security? The centralization of the lightning network does not alter the soundness of the underlying asset (BTC). It’s not a contradiction, it’s just being open minded that this isn’t a one size fits all world.

[Luc1fer]

A friendly reminder that your supposed technical analysis doesn't apply . Your only hope is cope..sshhh only tears now

Your so smarrt kenny, u must b worth billions wit ur mkt predictions

[YungSodomy]

Boring tech talk. I prefer Bobby Lee hopium talk like his last tweet

Neck-less Robert's looking better and better by the day.

His recently famous 10k EOY call made me wonder why he doesn't already have a youtube channel.

[YungSodomy]

lol. Not at all. No one here knows my financial status. I could be playing with burrito and bottled water money for all you know.

I could even be a low key whale.. Who knows?

We don't know what crypto is going to do from here. We will all see whether we like it or not. We don't have to point fingers and critic what people are buying by saying folks are allergic to money, smh. That's backward thinking, but thanks for your opinion.

Most patient people know.


But I wish you luck, boyo.


Just trying to save you from losing another 50% in crypto value within the coming weeks. Sa'll good. I'll be around when we get there.

[smallmeatchamp]

Boring tech talk. I prefer Bobby Lee hopium talk like his last tweet

I actually kind of agree with this

[juvefan]

I don’t think you understand how the lightning network works. It can not subvert or alter the money supply. It is simply a mechanism of exchange. Does it really seem far fetched to you that time sensitive low trust transactions like a cup of coffee or a micro payment stream could happen on a lightning network or other layer two solution, while time insensitive high trust transactions like buying a house or a car or any other high value exchange could happen on chain and simply wait the hour for proper 6 confirmation security? The centralization of the lightning network does not alter the soundness of the underlying asset (BTC). It’s not a contradiction, it’s just being open minded that this isn’t a one size fits all world.

I dont understand how you consider ethereum centralized due to an external source (development team) but the lightening network doesnt centralize bitcoin. Sounds like you’re very biased

[Austanian]

Yeah I figured that’s what you meant, just wanted to clarify haha. I think that the vast majority of modern miners are probably “for profit” entities, so they are likely to operate the way you describe. Prior to 2015/2016 I think a fair portion of miners were in it to accumulate BTC and only sold what was necessary to pay the overhead costs or to expand operations. I certainly fit into that category when I mined. Now those miners are likely a slim minority at best. Certainly something to keep in mind though, as that downward pressure is definitely real. How do you see that mechanism changing in 5-10 years when we start to see transaction fees accounting for more of the income than the block reward?

Hard to say... I am not a crypto believer because of how it evolved. Many of you seem to absolutely hate the Fed Reserve because of the negatives, but disregard the positives it also brings. Likewise a crypto system with a fixed number of units does solve issues, but also creates other problems.

However, I do know two things.
1. There will be incredible downward pressure until equilibrium price is reached. That is (lowest cost to mine)+ROI. (Lowest cost to mine has both short term and long term numbers.)
2. Most crypto buyers were not using it like they would a forex transaction, but due to hope for ridiculous ROI.

I believe for these reasons that all of the investors that bought it for ridiculous ROI purposes will eventually become jaded and sell further depressing prices. This MAY kill it or it may allow for a real pricing model to evolve. Arbitrage situations do not stay around long. As long as they exist people will exploit them until the arbitrage opportunity is gone.

[Witrebel]

I dont understand how you consider ethereum centralized due to an external source (development team) but the lightening network doesnt centralize bitcoin. Sounds like you’re very biased

I don't have a finanical bias if that's what you mean. I certainly prefer Bitcoin to Ethereum in terms of which project I am a bigger supporter of. I am genuinely curious why you think the lightning network will centralize bitcoin? I am also curious how you define centralized, and why you feel it is a bad thing. For example I dislike that our money supply is centralized and that I have no say in it. I would like the USD to be on the gold standard, but even if I somehow got a political movement going and got an amendment in the works, I couldn't affect much change short of military intervention. The Fed is a centralized power, they don't answer to the government or the people. If you wanted to change the Bitcoin money supply rules, how would you suggest doing that? How about Ethereum, do you think it is equally (in practice, not in theory) difficult to alter the Ethereum protocol than Bitcoin? If you had some power or leverage over Vitalik, do you think he could strongly influence things? Can you point to a single entity with that power in the Bitcoin space? Circling back, how do you see the lightning network affecting this line of thinking? Are you afraid that the majority of Bitcoin will be stored in hubs? Do you understand how the actual lightening protocol works at a programmatic level? I'm not trying to be a d*ck I just want to emphasize why absolute censorship resistance is more important to me than rapid development.

[Witrebel]

Hard to say... I am not a crypto believer because of how it evolved. Many of you seem to absolutely hate the Fed Reserve because of the negatives, but disregard the positives it also brings. Likewise a crypto system with a fixed number of units does solve issues, but also creates other problems.

However, I do know two things.
1. There will be incredible downward pressure until equilibrium price is reached. That is (lowest cost to mine)+ROI. (Lowest cost to mine has both short term and long term numbers.)
2. Most crypto buyers were not using it like they would a forex transaction, but due to hope for ridiculous ROI.

I believe for these reasons that all of the investors that bought it for ridiculous ROI purposes will eventually become jaded and sell further depressing prices. This MAY kill it or it may allow for a real pricing model to evolve. Arbitrage situations do not stay around long. As long as they exist people will exploit them until the arbitrage opportunity is gone.

To be fair, I would say that if I step outside of the "Bitcoin True Believer Bubble" and interact with the rest of the world, it's maybe 1 in 10 people at best that are actually serious about the sound money/middle finger to the Fed side of things. Most people are indeed looking for the incredible ROI and don't want to miss out on the next big thing. Very few people outside of the folks affected by hyperinflation zones care about the store of value/borderless currency aspect. Until that changes your outlook is probably right. I am just hoping that eventually more and more people are going to wake up and realize what is happening to our economy, and that they will see Sound Money in any form as the answer.

[Contribution05]

Boring tech talk. I prefer Bobby Lee hopium talk like his last tweet

Someone in here was saying he's seen $400 prediction. I would buy 2 whole bitcoins on the spot instead of just buying $50 here and there at current levels.

[Parkerscott]

Brave is coming bundled on HTC phones, and there is likely much bigger news. Drops 4%

top kek

[luckynrslevin]

Brave is coming bundled on HTC phones, and there is likely much bigger news. Drops 4%

top kek

that's huge actually

[johnnycash123]

There is no great value in a fragmented community. Bitcoin is a beta version software and will never come out of beta, and already has been overtaken technology wise because of this

No one gives a fuk about the other coins tech, when they all have a CEO that can run out of funds, or spend it on whatever he wants. Especially when these CEOs are amatuers.

I could give a list of about 10 coins that burned through funds already. I bet by the end of the year there will be 200.

good luck placing a bet on superiour tech

[johnnycash123]

I dont understand how you consider ethereum centralized due to an external source (development team) but the lightening network doesnt centralize bitcoin. Sounds like you’re very biased

No one needs to use the lightning network if they do not want to. It is a second layer. And dont bring up fees, that has nearly been solved with segwit

[Witrebel]

Someone in here was saying he's seen $400 prediction. I would buy 2 whole bitcoins on the spot instead of just buying $50 here and there at current levels.

https://www.tradingview.com/chart/BT...l-DROP-To-398/

This is not the only such predicition I've seen. I am a buyer around 2900-3100, and then again at $1200, and then again at $400.

No one gives a fuk about the other coins tech, when they all have a CEO that can run out of funds, or spend it on whatever he wants. Especially when these CEOs are amatuers.

I could give a list of about 10 coins that burned through funds already. I bet by the end of the year there will be 200.

good luck placing a bet on superiour tech

This guy gets it

[johnnycash123]

https://www.tradingview.com/chart/BT...l-DROP-To-398/

This is not the only such predicition I've seen. I am a buyer around 2900-3100, and then again at $1200, and then again at $400.



This guy gets it

I saw that guy and went through all his posts, he said SOROS will drop it to $400

[Witrebel]

I saw that guy and went through all his posts, he said SOROS will drop it to $400

Seriously? I took a good dig through his comment section as well and didn't see any red flags. There is strongggg support at 2900, so I won't be surprised if that level holds.

[Silencespeaks]

Seriously? I took a good dig through his comment section as well and didn't see any red flags. There is strongggg support at 2900, so I won't be surprised if that level holds.

My next buy order is at $2960 and then every $500 down.

The main thing that bothers me about the crash is that I keep thinking how much more I could’ve bought with my investment at current prices. Hard to stop thinking about that.

[Parkerscott]

that's huge actually

Any other coin would make an announcement of an announcement and then drop this news in some big event. Eich just drops it in some tweet thread. Tron would be up 800%