Cryptocurrency discussion

[Testa]

Hello all, so I'm not sure how many of are interested in investing in the recently elevating cryptocurrency or even have an understanding of what it is, but for those who do, I'm very interested in what you're buying in and selling, any strategies you got and potential ideas for the future. Luckily this morning I considered buying XRP/BTC for 0.46700587 BTC and later on in the day I made a $1200 gain on my initial investment, so was wondering if anyone else has had any similar luck.

 

[Eviction Notice]

£ > Crypto

Sorry, it's bound to crash in the future.

 

[Sneaky]

i got a rough 100$ in bitcoin which im trying to trade higher but bitcoin is being a bitch, should i invest everything in that new xrp hype ?

 

[Imperial Watch]

I hear @John Daymon uses his parents' money to make more for himself cause he's a rich kid. I saw he made quite a bit the other day

 

[Deleted member 4116]

Me and my friend put €50,- on Verge and made €950,- profit. I guess we are lucky.

 

[Testa]

@Sossa Similar portfolio here mate:
BTC:

https://prnt.sc/hu0j9p
XRP/XVG:

https://prnt.sc/hu0jc8

Highly doubt BTC's going anywhere soon, I'll give it till' may then dip.

 

[John Daymon]

The thing with cryptocurrencies is that they're unpredictable, they can dip at any time which is unfortunate, but they can also go up a hell of a lot. I sold mine before the full on chaos before christmas. If you want to invest in something you know will grow; go for gold.

 

[Deleted member 3902]

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[Yaseen]

I don't believe the BTC going to grow up , it will go down to eventually equal 0

 

[Fredy]

Bitcoins are essentially a big pyramid scheme. Just think about this logically, it can't go up infinitely because there is no value created by bitcoins themselves, it all depends on more people buying bitcoins than selling them, i.e. Bitcoin lives and dies with the hype.

Furthermore bitcoins as a currency are a complete and utter joke, and let's not even speak about the climate impact of all the shitty mining by dumb idiots running their PCs on 100% 24/7 (fuck them for ruining the price of graphics cards). IMO bitcoins and all cryptocurrencies should be banned.

 

[Deleted member 3902]

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[Fredy]

Your argument stating that mining is impacting the climate is a joke, yes it is impacting the climate with all the power and such being used. But what about all the paper being used for the bills in the countless amounts of currencies we have in the world?

Surely you can't be serious, right?

1. A single tree produces at least 5000 sheets of paper (probably more like 20k), which we can make into ~20-80k bills, which is at least 100k€ worth of money, from one tree. The amount of paper used for a really valuable euro bill is just negligible
2. Any tree that we cut down to get paper from, we can plant a new one (and we do), which means that nothing is really lost? A new tree will grow, consuming a lot of CO2.
3. We can recycle old paper and avoid cutting down trees
4. Euro bills (and most other bills in fact) don't even use normal paper, instead they use cotton

Now you have to also think about this though:

1. Bitcoin miners use highly technical equipment, such as graphics cards or even specialized ASICs. It is very expensive and relatively bad for the environment to produce these (and also takes up a lot of energy)
2. There's entire mining farms in countries where energy is cheap, mostly because those countries don't give a shit about the climate and use loads of coal or worse.

This link here is very informative. Especially this part: "Number of U.S. households powered for 1 day by the electricity consumed for a single transaction: 9.63". This is a SINGLE transaction, not for all of them. In fact the website also says that bitcoins use the same energy as bulgaria, which means for just mining, we use as much electricity as for 7 MILLION people.
I also did some calculations on my own (I hope I ain't wrong). It seems like bitcoin mining (and only bitcoin mining), takes the equivalent of more than 4 fully powered nuclear reactors (at 1GW) 24/7. And you have to remember this, bitcoin isn't even the hot thing anymore when it comes to mining.
Also remember that bitcoins aren't used widely, imagine the toll on the environment if it was our main currency. This is absolutely unacceptable.

we all want a decentralized, anonymous, fast, easy and cheap payment solution.

I don't. I like having a fast, reliable and cheap payment method. And guess what, they already exist. What benefit does it being decentrilized provide? Other than being able to buy childporn anonymously I don't really see any reason why anyone would want this.

But saying the world of crypto currencies is a hype and it will die is a very uneducated statement.

That is not at all what I said. I said bitcoin lives and dies with the hype. Which is 100% true. The only reason people buy it is because there's a lot of hype about it, and the possibility of getting rich. As soon as the hype dies down, demand will go down significantly, therefore fucking bitcoin over.
In fact there is a very real scenario that would kill bitcoin immediately. The guy who made bitcoins (whoever that is), apparently owns 1 million of them. That essentially means, he owns 5% of ALL bitcoins. A single guy. Imagine the power he has, he can single handedly crash bitcoins.

Without doubt is crypto currencies the future

I beg to differ. Crypto currencies are fucking useless, they don't represent anything. They aren't backed by a government, the only reason they are worth something is because of real currencies.
Also, crypto currencies currently can't ever replace real currencies. Bitcoins are capped at 7 transactions per second, which btw is why the transaction fees are so high. A real alternative would have to handle 10000 transactions per second at the very least, possibly much more. Even bitcoin cash can only handle at most 56 transactions per second, which is absolutely pathetic.

 

[rat]

There's only one crypto currency I care about

 

[Generic Twat]

You meet a bitcoin trader, a vegan and a person who didnt vote in 2016. Who would tell you about it first?

 

[Sneaky]

fuck bitcoin dude im going to ripple

 

[Aquaa]

There's only one crypto currency I care about

Upon close investigation im going to predict a massive crash, I highly recommend you sell those and all your puffles and invest in a more reliable currency, such as this one.

Here's a picture of me after investing $100 into Robux.

 

[Jimmy]