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JB Crypto Currency Discussion

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A place to discuss the various aspects of Crypto Currencies, Nothing in this room should be considered financial or investment advice77 Servers

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9 Dec 2021
@chrislas:jupiterbroadcasting.comchrislasI'm not totally sure with my Friday buys. I have been using the CashApp. Which sounds kinda silly, but it was what got me to start buying bitcoin again. The UI is soooo simple and quick. But they don't make it super clear what the fees are. I have a sense I have seen them, but I don't think they show up during the actual transaction. 17:50:02
@chrislas:jupiterbroadcasting.comchrislasBut I have found it works stupid well. And after I accumulate a bit in there, I send it to my real wallet. 17:50:29
@thekkid:dagarten.modular.imAlexI haven't bought any in about 3-4 years but all of mine is in coinbase I was buying using gdax because of lower fees.17:52:42
@thekkid:dagarten.modular.imAlexWay back in the day I was buying on mtgox.17:52:50
@thekkid:dagarten.modular.imAlexI don't normally transfer to avoid transfer fees17:52:57
@chrislas:jupiterbroadcasting.comchrislasOh yeah I was on Mt Gox...17:53:20
@chrislas:jupiterbroadcasting.comchrislasSo this is a fun thought... Bitcoin is a bet on Inflation, and Ethereum is a bet on Technology. https://finance.yahoo.com/news/ethereum-outperforming-bitcoin-because-technology-164410603.html17:53:55
@thekkid:dagarten.modular.imAlexSeems like an oversimplification. Both are bets on their respective communities.17:54:59
@chrislas:jupiterbroadcasting.comchrislasYeah the community around them is what makes or break them in the rough times.17:55:22
@chrislas:jupiterbroadcasting.comchrislasYou know I been noticing there is a lot of parallels to Linux17:55:45
@chrislas:jupiterbroadcasting.comchrislasYou could make that same claim about a distro.17:55:52
@thekkid:dagarten.modular.imAlexExcept a distro is valuable without the network effects.17:56:07
@chrislas:jupiterbroadcasting.comchrislasYou could say ETH is too because of the smart contract stuff, and the transaction tools being built on top of it.17:56:36
@chrislas:jupiterbroadcasting.comchrislasProlly is true for bitcoin tho?17:56:48
@thekkid:dagarten.modular.imAlexThe smart contract stuff isn't valuable if no one else uses ETH17:56:50
@chrislas:jupiterbroadcasting.comchrislasWell it seems like they would keep on using the tech, without even realizing it is ETH.. You know like music fans buying an NFT from a celeb or somethin.17:57:20
@thekkid:dagarten.modular.imAlexMore my point is if I just copied the ethereum blockchain and made my own alexcoin no one would use it and the smart contracts wouldn't be useful because there's no network.17:58:06
@chrislas:jupiterbroadcasting.comchrislasSomething else could come along.. But when you see stuff like Loopring, you start to think the next wave might be things that add features on top of ETH or BTC.17:58:10
@chrislas:jupiterbroadcasting.comchrislasLike ETH and BTC are set. Now tools will be built on top of them. The so called layer2 stuff.17:58:25
@chrislas:jupiterbroadcasting.comchrislasI also wonder.. At least with BTC.. If it drops, there is ALWAYS gonna people a huge group of people ready to buy now.17:59:26
@chrislas:jupiterbroadcasting.comchrislasIt's happening today even tho the price has not gone down that much.17:59:36
@chrislas:jupiterbroadcasting.comchrislasIf there was another 40%+ drop and I HAD the funds, I'd buy.18:00:06
@thekkid:dagarten.modular.imAlexI'm not convinced there's enough of a "moat" to cause entrenchment to where there will never be new competitors come in and take over the space. Clearly BTC is never going to drop to 0. The layer 2 stuff is super necessary in order to get fees down and number of transactions up but I wouldn't be surprised in 5-10 years if people circumvent btc because of how slow the community moves and even eth.18:01:27
@chrislas:jupiterbroadcasting.comchrislasIt seems possible. But it seems like anything of that nature you'd see comin a bit down the road. So you could leverage the price of bitcoin to buy up whatever that new thing was. If you're watching for it.18:25:27
@chrislas:jupiterbroadcasting.comchrislas

This is really just a great rundown of all the typical crap thrown around in one place.

https://www.theregister.com/2021/12/06/the_dark_equation_of_harm/

At this point in time, based on a dozen years of practical experience, no experiment in cybercurrency – or anything blockchain – is fixing real problems. Smart contracts? Not so smart [PDF]. NFTs? Ffffft.

If you want a mildly entertaining few minutes, go and search for “successful blockchain projects.” You’ll find lots of lists of the top 13, or 30, or 56, “most disruptive” or “most promising” or “must-watch” projects, some with big names attached. Most profitable? Most effective? Most indispensable? You must be joking.

Try running a search for “top crypto scams”, though, and you’ll find a much healthier market.

Blockchain is bunkum. It hasn’t done anyone any good, excepting boosters, crims and enablers. When the best you can say about a technology is that it has roughly the same role in crime online as stolen art does in the physical world – a useful token of value that is harder to track than bank transfers – you’re not making the world a better place.

so ramp up the reporting requirements on the exchanges. It takes the will to say this is a failed experiment: it is, and it’s robbing people of many billions.

It’s had its chance. Bust blockchain back to the lab.

18:26:41
@chrislas:jupiterbroadcasting.comchrislasA lot of opinion thrown around as fact. Typical alarmist take on energy use, ignoring the real data. Typical hand waves about ransomeware being the devil and bitcoin giving it power. 18:27:26
@thekkid:dagarten.modular.imAlex
In reply to @chrislas:jupiterbroadcasting.com
It seems possible. But it seems like anything of that nature you'd see comin a bit down the road. So you could leverage the price of bitcoin to buy up whatever that new thing was.

If you're watching for it.
The last point is why I don't do much with it. I don't have confidence I'm on the frontend of the curve and not the backend.
18:27:47
@jasonish:matrix.orgishYeah, I hate how a scam that uses crypto means crypto is at fault. But a tax scam asking old people to pay tax bills in gift gards is neither the tax agencies fault, or the gift cards fault.18:28:23
@chrislas:jupiterbroadcasting.comchrislas
In reply to @thekkid:dagarten.modular.im
The last point is why I don't do much with it. I don't have confidence I'm on the frontend of the curve and not the backend.

That makes sense.

I feel like I am fairly plugged into news cycles, community drama, and project developments. So I might be more inclined.

18:28:29
@chrislas:jupiterbroadcasting.comchrislasOh last thing than I gotta run, I came across this and thought it was useful: https://dcabtc.com/18:34:10

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