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I’m waiting for Binance and Tether to collapse, and then we will know with certainty crypto’s best days are behind it, down to zero it goes. If you have assets
by xwdv 4y ago
I’m waiting for Binance and Tether to collapse, and then we will know with certainty crypto’s best days are behind it, down to zero it goes.
If you have assets on Binance I would not be complacent. Get them out.
- senectus1 4y agoTether falling is going to make FTX look like a hiccup.
- sgt101 4y agoHopefully everyone who is serious has moved everything that the have away from that hole.
- jusonchan81 4y agoWhat’s surprising is Tether seems to keep getting away with enquiries against them. Does anyone really believe that they have enough cash to cover all the Tether coins out there?
- whatshisface 4y agoAll of these scams are bad for cryptocurrency, its best days will be some time after they all collapse (if that ever happens, maybe they'll just make new scams forever.)
- Gigachad 4y agoI just can't see how crypto can recover tbh. What other technology spent ten years, produced basically nothing of value, is almost universally hated by the whole population and then came back to be something useful? It's not like quantum computing where we just don't know how to make it work. There are close to no technical problems, the core idea just doesn't work.
- jrm4 4y agoThe core idea does not work for many, if not most, of the things people have promised it can work for -- but that's very different from "doesn't work." I'd say it's still a pretty strong contender not for "cash in hand" but for a better "money in your mattress."
- Gigachad 4y agoSo the only use cases so far are pleasing paranoid schizos, ransomware, and scams? Cash in your mattress is likely much safer than in your bitcoin wallet.
- deleted 4y ago[deleted]
- jcpham2 4y agoWhat if I can’t decide which is better so I further diversify into both?
- simiones 4y agoSure, if you're ok with the money in your mattress losing 66% of its value in one year, as happened to BTC.
- jrm4 4y agoThat's why I didn't say money in the bank? Possibly volatile, but a hedge-slash-gamble against whatever screwiness is going on with other forms of money.
- TimJRobinson 4y agoImagine thinking an industry worth $800B, with 200M users, transferring billions of dollars a day, is "hated by the whole population". You really live in a bubble
- Gigachad 4y ago200M even if accurate is still a drop in the bucket considering almost every person knows all about crypto at this point and the general sentiment on the street is that its filled with gambling, scammers, and environmental destruction. Crypto valuations are also complete bullshit considering how much "wealth" is alt coins with no liquidity. I could easily create a multi trillion dollar market cap coin in a weekend. Doesn't mean shit.
- dmitriid 4y ago> worth $800B, with 200M users, transferring billions of dollars a day None of these statements are true. All of them (especially when it comes to monetary values) are wishful thinking.
- Zanfa 4y agoMade up numbers. You can't just sum up fictional "market caps", number of unique wallet addresses and wash trades to conclude it must be doing amazing.
- shapefrog 4y agoImagine thinking an industry worth $0.00 is worth $800B. You really live in a bubble
- 2sk21 4y agoThe crypto "industry" is a set of people selling Pet Rocks to each other
- Herbstluft 4y agoFor those 200M I'd like to see an independent source before I believe it. Or are you trying to claim 1 wallet = 1 user or something? When it comes to money moved: the top 1% in the US possess more wealth than the whole middle 60% of income distribution combined. So if you believe that moving a lot of money inherently implies broad adoption in the population you live in a very small bubble far away from reality.
- tdeck 4y agoMLMs like Amway are still around though. Crypto operates like an MLM in many ways.
- djtango 4y agoIt's weird, tokenomics is both feature and bug. Tokens incentivise hosting nodes and the ponzi nature of crypto solves the network-effect cold start problem (eg drivers and riders on Uber) Imagine if there were some token attached to Mastodon, maybe we'd all have ditched Twitter already. I liked Moxie's post about how no one wants to build servers. Maybe a next gen crypto that is peer oriented and works on mobile is key. Not a maxi or mini but definitely find that some interesting phenomena have played out through crypto beyond "just" speculation
- rkagerer 4y agoalmost universally hated by the whole population Can you source that? It feels to me like a gross exaggeration. Anecdotally I know more people that are passionate about it or just don't care than anyone who really hates it.
- coopierez 4y ago8% of (American) people have a positive view, 43% have a negative view. The rest don't care or are neutral. So although not a majority, it's pretty close. https://www.cnbc.com/2022/12/07/just-8percent-of-americans-have-a-positive-view-of-cryptocurrencies-now-cnbc-survey-finds.html https://www.cnbc.com/2022/12/07/just-8percent-of-americans-h...
- _5uxp 4y agoPublic majority have no way of understanding anything important. Even it's good for their health or wealth etc. So many historical example out there.
- rkagerer 4y agoThanks for sharing that poll. 25% --> 45% since March. I'd be interested in seeing how those numbers fit into the context of longer term sentiment (eg. over the course of several years). I wonder how much it fluctuates year to year and what degree the emotion reflected in those surveys is influenced by prices at any given time (eg. inclination to be more upbeat when prices are going up).
- NicoJuicy 4y agoIt would be more interesting if anyone would still care about 2022 ( % wise)
- permo-w 4y agoI suspect NFTs probably have even worse numbers
- dibt 4y ago
- netheril96 4y ago> is almost universally hated by the whole population Haters do not move the market at all, unless they are willing to short the coins. Only the participants, whatever their intentions are, move the market.
- Gigachad 4y agoEventually to sustain the value, crypto has move past hype and be actually used for something. If regular people won't use it to buy coffee or store money, eventually the trading bots shuffling billions of imaginary tokens around won't cut it.
- gilrain 4y agoSocial approbation is missing from your calculation, and is very powerful. When you don’t get invited to social events anymore because of crypto, that is the haters moving the market.
- Animats 4y agoDefinitely get out of Tether. There's no upside to holding Tether, and there's unknown risk.
- xwdv 4y agoI’m out.
- iso1631 4y agoNote that even if you get them out, don't count on keeping any profits you may have made > Investors who profited from Bernard Madoff’s massive Ponzi scheme even though they knew nothing of it must still pay back their profits, an appeals court decided Thursday. https://www.nbcnews.com/news/us-news/innocent-madoff-investors-must-pay-back-profits-court-rules-n1241040 https://www.nbcnews.com/news/us-news/innocent-madoff-investo...
- SkyMarshal 4y agoBinance and Tether collapsing would mean the opposite, that crypto's worst days are behind it.