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05-11-2022, 03:13 PM
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#4201 | | Proud to be called a RS Regular!
Join Date: Nov 2013 Location: YVR
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| Quote:
Originally Posted by mikemhg  ^It's interesting reading about people's thoughts and theories on that: https://www.reddit.com/r/CryptoCurre...was_caused_by/
This sentence is the most telling: "How is it supposed to be a replacement for our current financial system if it's this fragile and poorly designed?"
The entire space is a farce and always has been, yet another vehicle to rob a fool of their money.
The warning signs have always been there. | There have been people calling crypto a scam since bitcoin was $1 and those that will continue to do so regardless of price/adoption. Its the wild west out there. If you need the government to hold your hand, I'd agree it's best to stay out of this game.
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05-11-2022, 05:08 PM
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#4202 | | OMGWTFBBQ is a common word I say everyday
Join Date: Jan 2005 Location: Vancouver
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Word. Please keep crypto the wild west.
All the theory around UST is very interesting. Even more interesting is the implication of Blackrock in this whole thing. Blackrock backs USDC so naturally they have motive to maintain their dominance.
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05-11-2022, 05:19 PM
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#4203 | | in the butt
Join Date: Aug 2016
Posts: 3,130
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| Quote:
Originally Posted by 68style Jesus that LUNA fall $130 to $4 in a couple of days… I know a few people heavily invested in that, that’s suicide watch levels of collapse there  | Holy shit
The total crypto GDP is also down by 40% over the last week / two.... Was 2 trillion, now at 1.3
Then again, this is the same thing as 2017, when there was only 500 altcoins.
490 of those dropped like a rock, and stayed there. About 10-20 of those came back for the 2020 pump
Now we are at 20,000 altcoins, safe to assume 19,950 of those will drop like a rock, not to mention 95% of those are already past their pump and dump state....
What I'm really curious to see, in 5ish year time:
is what coins of the original 500 from 2017 will be at the top, and what coins from the current 20,000 will be at the top from 2021 peak
__________________ Quote:
Originally Posted by Mr.Money
i hate people who sound like they smoke meth then pretend like they matter.
Originally Posted by ilovebacon
Does anyone have a pair of 25 pounds one-inch hole for sale at a reasonable price?
Originally Posted by BIC_BAWS
God, women in their early 30s are so baadd lmfao
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05-11-2022, 06:11 PM
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#4204 | | Hacked RS to become a mod
Join Date: Feb 2002 Location: Sunny Hong Kong
Posts: 54,439
Thanked 25,328 Times in 8,862 Posts
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| Quote:
Originally Posted by donk.
What I'm really curious to see, in 5ish year time:
is what coins of the original 500 from 2017 will be at the top, and what coins from the current 20,000 will be at the top from 2021 peak
| Bitcoin, ETH.. Maybe one other
The rest will be fractions of pennies. Yes, the shoes too
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05-11-2022, 06:17 PM
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#4205 | | I only answer to my username, my real name is Irrelevant!
Join Date: Oct 2002 Location: CELICAland
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Whoevers behind it (Blackrock came out to deny btw  ) they made a killing shorting everything
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05-11-2022, 06:21 PM
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#4206 | | Hacked RS to become a mod
Join Date: Feb 2002 Location: Sunny Hong Kong
Posts: 54,439
Thanked 25,328 Times in 8,862 Posts
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| Quote:
Originally Posted by mikemhg ^It's interesting reading about people's thoughts and theories on that: https://www.reddit.com/r/CryptoCurre...was_caused_by/
This sentence is the most telling: "How is it supposed to be a replacement for our current financial system if it's this fragile and poorly designed?"
The entire space is a farce and always has been, yet another vehicle to rob a fool of their money.
The warning signs have always been there. | This happens to the stock market too, to the point where the whole world economy gets fucked (Black Friday)... It's still pretty new, so this kind of shit will happen.
Yes the shitty bankers and greedy speculators and scam artists are making a killing while retail customers are getting fucked. That's how it always is, just to a less dramatic extent. I hope most people follow the often reported advice "only bet/invest what you can afford to lose". Because that applies to the stock market, to the casino, and to crypto. Can't blame the casino for someone losing all their money there - they knew what they were getting into.
I think the hope is that all these shitcoins pop up less and less, to be eventually replaced by crypto technologies that are useful. These will be inherently more and more stable as time goes on. Less bankers and speculators, and more people ACTUALLY USING THEM FOR SOMETHING. And no, shoes and apes do not count. It has to be something useful. So far, bitcoin and ETH are the only coins that make any sense. The rest is just people ripping each other off until the pyramid crumbles.
This won't stop after this crash, but hopefully it'll be less and less as people realize what's actually going on. The bankers and speculators simply won't have enough people to steal from.
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05-11-2022, 06:30 PM
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#4207 | | RS controls my life!
Join Date: Mar 2012
Posts: 768
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lol you guys know that BlackRock manages over 10 trillion USD? Market cap of UST is what few billions? Kind of cute to think that BlackRock would severely risk their reputation and potential fines for a few decimal points to their bottom line
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05-11-2022, 06:32 PM
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#4208 | | I only answer to my username, my real name is Irrelevant!
Join Date: Oct 2002 Location: CELICAland
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There wouldn't be any fines from this because it's crypto
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05-11-2022, 06:37 PM
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#4209 | | RS controls my life!
Join Date: Mar 2012
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^ You're joking right? If not, just type "sec cryptocurrency fine" in google
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05-11-2022, 06:39 PM
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#4210 | | in the butt
Join Date: Aug 2016
Posts: 3,130
Thanked 4,098 Times in 1,467 Posts
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| Quote:
Originally Posted by SkinnyPupp Bitcoin, ETH.. Maybe one other
The rest will be fractions of pennies. Yes, the shoes too | Nah, not all, add dogecoin, it's gonna be the greatest meme token of all time
__________________ Quote:
Originally Posted by Mr.Money
i hate people who sound like they smoke meth then pretend like they matter.
Originally Posted by ilovebacon
Does anyone have a pair of 25 pounds one-inch hole for sale at a reasonable price?
Originally Posted by BIC_BAWS
God, women in their early 30s are so baadd lmfao
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05-11-2022, 06:42 PM
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#4211 | | Hacked RS to become a mod
Join Date: Feb 2002 Location: Sunny Hong Kong
Posts: 54,439
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| Quote:
Originally Posted by donk. Nah, not all, add dogecoin, it's gonna be the greatest meme token of all time | Honestly, if the only standard is that a coin is actually useful, then being a meme qualifies!
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05-11-2022, 06:51 PM
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#4212 | | OMGWTFBBQ is a common word I say everyday
Join Date: Jan 2005 Location: Vancouver
Posts: 5,185
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| Quote:
Originally Posted by SkinnyPupp Honestly, if the only standard is that a coin is actually useful, then being a meme qualifies! | Finally something we agree on   | |
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05-11-2022, 06:56 PM
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#4213 | | Hacked RS to become a mod
Join Date: Feb 2002 Location: Sunny Hong Kong
Posts: 54,439
Thanked 25,328 Times in 8,862 Posts
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I might buy some on this dip just in case it's the only one that survives  | |
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05-11-2022, 07:05 PM
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#4214 | | I contribute to threads in the offtopic forum
Join Date: Jun 2013 Location: Burnaby
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Guys, don't forget when BTC hit ATH of $20k in 2017 and was followed by an 85% drop to $3k.
Not saying BTC will hit $10k, but I can see BTC getting as low as $20k. If we survive this crash, we're going to the fcuking moon boys. If this crash kills crypto, then it was a good run.
I'm hoping for the moonshot, but time will tell.
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05-11-2022, 07:18 PM
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#4215 | | I contribute to threads in the offtopic forum
Join Date: Jan 2002 Location: Vancouver
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it's kind of fun watching Luna crash. I just bought 200 coins for 140 which would have costed 24k just 1 month ago, amazing lol
i'm going to get a stack of 500 just for fun, see what happens when ust re-pegs itself
__________________
You Can't Change What You Don't Acknowledge
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05-11-2022, 07:31 PM
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#4216 | | Say! Say! Say!
Join Date: Aug 2005 Location: Japan
Posts: 15,508
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So many people talking about suicide on the Luna subreddit. Goes to show how many people are overleveraged, lol.
__________________ Quote: | Owner of Vansterdam's 420th thanks. OH YEAUHHH. | Quote:
Originally Posted by 89blkcivic Did I tell you guys black is my favourite colour? My Ridgeline is black. My Honda Fit is black. Wish my dick was black........ LOL. | | |
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05-11-2022, 07:34 PM
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#4217 | | Hacked RS to become a mod
Join Date: Feb 2002 Location: Sunny Hong Kong
Posts: 54,439
Thanked 25,328 Times in 8,862 Posts
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Eh keep in mind that reddit and 4chan are like 99% gimmicks
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05-11-2022, 08:56 PM
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#4218 | | I only answer to my username, my real name is Irrelevant!
Join Date: Oct 2002 Location: CELICAland
Posts: 25,679
Thanked 10,395 Times in 3,918 Posts
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| Quote:
Originally Posted by GGnoRE ^ You're joking right? If not, just type "sec cryptocurrency fine" in google | That's only due to investment schemes by exchanges its not set in stone but the sec alleges they have jurisdiction over such aspects, and they are ramping up a crypto investigations team
Blockfi paid the fine bcuz they opted to not go into a legal battle
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05-11-2022, 09:12 PM
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#4219 | | I contribute to threads in the offtopic forum
Join Date: Jan 2002 Location: Vancouver
Posts: 2,604
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sigh, it's 2018 all over again if not worse
__________________
You Can't Change What You Don't Acknowledge
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05-12-2022, 05:34 AM
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#4220 | | Rs has made me the man i am today!
Join Date: Oct 2005 Location: Langley
Posts: 3,493
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| Quote:
Originally Posted by Eatman it's kind of fun watching Luna crash. I just bought 200 coins for 140 which would have costed 24k just 1 month ago, amazing lol
i'm going to get a stack of 500 just for fun, see what happens when ust re-pegs itself | Feeling the pain on it today?
I've never really gotten in to crypto or had a will to. Now reading all this news about everything tanking is kind of a guilty pleasure. After years of listening to friends and others trying to tell me to dump thousands into certain coins and how they're making a killing is a bit entertaining on the inside right now. Fools. thought they were walking on a magic rainbow to financial success only to listen to them now crying their eyes out.
Are people actually still dumping tons of money back into these coins that have hit rock bottom in hopes they'll make a killing of a profit or is it enough for people to just call it quits?
*edited for spelling/grammar*
Last edited by stewie; 05-12-2022 at 05:43 AM.
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05-12-2022, 07:54 AM
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#4221 | | Performance Moderator
Join Date: Jun 2001 Location: Richmond
Posts: 18,171
Thanked 19,487 Times in 6,612 Posts
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Only a small man takes delight in the downfall of others.
How can you fault people for wanting to make money? Especially given affordability issues here… what other chance do you have here to get anything besides taking huge chances on moon shots? And then having giant faceless and crooked corporations or entities change the rules behind their backs?
At least they tried to do something instead of just accepting things how they are.
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05-12-2022, 09:45 AM
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#4222 | | I *heart* Revscene.net very Muchie
Join Date: Nov 2004 Location: vancouver
Posts: 3,770
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is there any change Luna comes back up? trying to understand better what caused it to go down in the first place.
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05-12-2022, 09:46 AM
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#4223 | | I *heart* Revscene.net very Muchie
Join Date: Nov 2004 Location: vancouver
Posts: 3,770
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05-12-2022, 10:02 AM
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#4224 | | in the butt
Join Date: Aug 2016
Posts: 3,130
Thanked 4,098 Times in 1,467 Posts
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The only people that really know what happened, are the ones that profited. Everyone else can only guess, as the real story will probably be taken to the grave
I want to know why Luna supply went from 300mil, to 3bil in the span of hours
__________________ Quote:
Originally Posted by Mr.Money
i hate people who sound like they smoke meth then pretend like they matter.
Originally Posted by ilovebacon
Does anyone have a pair of 25 pounds one-inch hole for sale at a reasonable price?
Originally Posted by BIC_BAWS
God, women in their early 30s are so baadd lmfao
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05-12-2022, 10:25 AM
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#4225 | | in the butt
Join Date: Aug 2016
Posts: 3,130
Thanked 4,098 Times in 1,467 Posts
Failed 202 Times in 110 Posts
| Quote:
Originally Posted by 68style Only a small man takes delight in the downfall of others.
How can you fault people for wanting to make money? Especially given affordability issues here… what other chance do you have here to get anything besides taking huge chances on moon shots? And then having giant faceless and crooked corporations or entities change the rules behind their backs?
At least they tried to do something instead of just accepting things how they are. | Small man here, I do take joy just like eatman
Not necessarily take joy of the fall of others: I'd say joy, in watching people make poor financial decisions, thinking they found gold, and then watching that poor financial decision show it's true colors
If you want to make money, you do not buy lotto tickets, pink slips on the stonk market, or snake oil your cousin from Bangladesh that said will be 90,000$/lb in a year
Trying "to do something" instead of accepting things how they are, is the root cause of failure my opinion, everyone wants "when lambo" without putting in work.
Alot of people in this thread have 5, 10, 20% of their assets in crypto, and that's completely fine, regardless if it's 500$ or 50k
9/10 new businesses fail
19500 of 20000 cryptos fail
Lotto tickets..... 999999 of 100000 fail? (Big win wise)
60% of stocks over the last 30 years returned less than 1%, not to mention the ones that flopped
You go get an education, in a high demand field, get paid, then you spend years obtaining wealth, then, you can buy a condo, and that sportcar
Don't wish for it, work for it
__________________ Quote:
Originally Posted by Mr.Money
i hate people who sound like they smoke meth then pretend like they matter.
Originally Posted by ilovebacon
Does anyone have a pair of 25 pounds one-inch hole for sale at a reasonable price?
Originally Posted by BIC_BAWS
God, women in their early 30s are so baadd lmfao
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