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tech / sci.electronics.design / Re: OT crypto crash

SubjectAuthor
* OT crypto crashjlarkin
+* Re: OT crypto crashMartin Brown
|`* Re: OT crypto crashJohn Walliker
| +- Re: OT crypto crashDecadentLinuxUserNumeroUno
| +* Re: OT crypto crashamdx
| |`* Re: OT crypto crashMartin Brown
| | `- Re: OT crypto crashEd Lee
| +* Re: OT crypto crashamdx
| |+* Re: OT crypto crashJohn Larkin
| ||`* Re: OT crypto crashamdx
| || +* Re: OT crypto crashEd Lee
| || |+* Re: OT crypto crashjlarkin
| || ||`* Re: OT crypto crashJeroen Belleman
| || || +- Re: OT crypto crashEd Lee
| || || +* Re: OT crypto crashMike Monett
| || || |+- Re: OT crypto crashLasse Langwadt Christensen
| || || |`* Re: OT crypto crashrbowman
| || || | `* Re: OT crypto crashLasse Langwadt Christensen
| || || |  `- Re: OT crypto crashrbowman
| || || `- Re: OT crypto crashjlarkin
| || |`* Re: OT crypto crashamdx
| || | `- Re: OT crypto crashEd Lee
| || `- Re: OT crypto crashjlarkin
| |`* Re: OT crypto crashEd Lee
| | `- Re: OT crypto crashamdx
| `- Re: OT crypto crashamdx
+- Re: OT crypto crashbitrex
+- Re: OT crypto crashbitrex
+- Re: OT crypto crashJohn Doe
`* Re: OT crypto crashjlarkin
 `* Re: OT crypto crashEd Lee
  `- Re: OT crypto crashDecadentLinuxUserNumeroUno

Pages:12
Re: OT crypto crash

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From: spa...@not.com (Mike Monett)
Newsgroups: sci.electronics.design
Subject: Re: OT crypto crash
Date: Sat, 14 May 2022 21:32:13 -0000 (UTC)
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 by: Mike Monett - Sat, 14 May 2022 21:32 UTC

Jeroen Belleman <jeroen@nospam.please> wrote:

> On 2022-05-14 16:30, jlarkin@highlandsniptechnology.com wrote:

[...]

>>>>>>> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:

>>>>>>>> I'm fairly convinced that crypto currencies will eventually fall
>>>>>>>> out of fashion when people wise up to just how much they
>>>>>>>> contribute to global warming. You would be hard pressed to invent
>>>>>>>> something more wasteful of energy for the value of the
>>>>>>>> transactions processed.

People fly in airplanes with no regard for their effect on global warming.
People drive cars that waste energy when stuck in traffic.
People use the internet with no regard for how much energy it uses.
Why should anyone care about crypto?

[...]

>> Beanie Babies, Thomas Kinkade paintings, little glass figurines,
>> Bitcoins, all essentially worthless.

The stock market is a form of gambling. Your value can drop to zero in
hours.

Crypto price is determined by supply and demand. Supply is essentialy
fixed, so price is determined by demand. Demand is determined by sentiment,
the same as the stock market.

Many other things are determined by sentiment. Non-fungible tokens, art,
stamps, real estate, gold, anything you can buy. The price is determined by
what you can get for it, same as everything else.

> Jeroen Belleman

--
MRM

Re: OT crypto crash

<da0870fb-d4bf-4be3-a88c-69c4d0d9c635n@googlegroups.com>

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Subject: Re: OT crypto crash
From: langw...@fonz.dk (Lasse Langwadt Christensen)
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 by: Lasse Langwadt Chris - Sat, 14 May 2022 21:35 UTC

lørdag den 14. maj 2022 kl. 23.32.20 UTC+2 skrev Mike Monett:
> Jeroen Belleman <jer...@nospam.please> wrote:
>
> > On 2022-05-14 16:30, jla...@highlandsniptechnology.com wrote:
> [...]
> >>>>>>> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
>
> >>>>>>>> I'm fairly convinced that crypto currencies will eventually fall
> >>>>>>>> out of fashion when people wise up to just how much they
> >>>>>>>> contribute to global warming. You would be hard pressed to invent
> >>>>>>>> something more wasteful of energy for the value of the
> >>>>>>>> transactions processed.
> People fly in airplanes with no regard for their effect on global warming..
> People drive cars that waste energy when stuck in traffic.
> People use the internet with no regard for how much energy it uses.
> Why should anyone care about crypto?
>
> [...]
> >> Beanie Babies, Thomas Kinkade paintings, little glass figurines,
> >> Bitcoins, all essentially worthless.
> The stock market is a form of gambling. Your value can drop to zero in
> hours.
>
> Crypto price is determined by supply and demand. Supply is essentialy
> fixed, so price is determined by demand. Demand is determined by sentiment,
> the same as the stock market.
>
> Many other things are determined by sentiment. Non-fungible tokens, art,
> stamps, real estate, gold, anything you can buy. The price is determined by
> what you can get for it, same as everything else.

NFTs and crypto stands out as being entirely virtual

Re: OT crypto crash

<jeanagF2bk1U1@mid.individual.net>

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From: bow...@montana.com (rbowman)
Newsgroups: sci.electronics.design
Subject: Re: OT crypto crash
Date: Sat, 14 May 2022 16:03:59 -0600
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 by: rbowman - Sat, 14 May 2022 22:03 UTC

On 05/14/2022 03:32 PM, Mike Monett wrote:
> Jeroen Belleman <jeroen@nospam.please> wrote:
>
>> On 2022-05-14 16:30, jlarkin@highlandsniptechnology.com wrote:
>
> [...]
>
>>>>>>>> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
>
>>>>>>>>> I'm fairly convinced that crypto currencies will eventually fall
>>>>>>>>> out of fashion when people wise up to just how much they
>>>>>>>>> contribute to global warming. You would be hard pressed to invent
>>>>>>>>> something more wasteful of energy for the value of the
>>>>>>>>> transactions processed.
>
> People fly in airplanes with no regard for their effect on global warming.
> People drive cars that waste energy when stuck in traffic.
> People use the internet with no regard for how much energy it uses.
> Why should anyone care about crypto?
>
> [...]
>
>>> Beanie Babies, Thomas Kinkade paintings, little glass figurines,
>>> Bitcoins, all essentially worthless.
>
> The stock market is a form of gambling. Your value can drop to zero in
> hours.
>
> Crypto price is determined by supply and demand. Supply is essentialy
> fixed, so price is determined by demand. Demand is determined by sentiment,
> the same as the stock market.
>
> Many other things are determined by sentiment. Non-fungible tokens, art,
> stamps, real estate, gold, anything you can buy. The price is determined by
> what you can get for it, same as everything else.
>
>> Jeroen Belleman

If you have a Mason jar full of Pandas buried in the backyard or a
Hambleton hanging on the wall, at least you have something. A Bitcoin is
strictly of notional value. You are correct about tangible items though.
I'm afraid the survivalist types will get a rude awakening if their
favorite scenario comes to pass and they can't but a can of baby formula
with a panda.

I was never particularly interested but lost interest completely when I
realized it isn't even an effective means of exchange. I believe
agreements denominated in bitcoin are only valid for a very short period
of time (15 minutes?) because of the volatility.

Re: OT crypto crash

<ca4c9257-3bc0-4fe0-8a1e-28ac2a37e142n@googlegroups.com>

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Subject: Re: OT crypto crash
From: langw...@fonz.dk (Lasse Langwadt Christensen)
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 by: Lasse Langwadt Chris - Sat, 14 May 2022 22:14 UTC

søndag den 15. maj 2022 kl. 00.04.09 UTC+2 skrev rbowman:
> On 05/14/2022 03:32 PM, Mike Monett wrote:
> > Jeroen Belleman <jer...@nospam.please> wrote:
> >
> >> On 2022-05-14 16:30, jla...@highlandsniptechnology.com wrote:
> >
> > [...]
> >
> >>>>>>>> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
> >
> >>>>>>>>> I'm fairly convinced that crypto currencies will eventually fall
> >>>>>>>>> out of fashion when people wise up to just how much they
> >>>>>>>>> contribute to global warming. You would be hard pressed to invent
> >>>>>>>>> something more wasteful of energy for the value of the
> >>>>>>>>> transactions processed.
> >
> > People fly in airplanes with no regard for their effect on global warming.
> > People drive cars that waste energy when stuck in traffic.
> > People use the internet with no regard for how much energy it uses.
> > Why should anyone care about crypto?
> >
> > [...]
> >
> >>> Beanie Babies, Thomas Kinkade paintings, little glass figurines,
> >>> Bitcoins, all essentially worthless.
> >
> > The stock market is a form of gambling. Your value can drop to zero in
> > hours.
> >
> > Crypto price is determined by supply and demand. Supply is essentialy
> > fixed, so price is determined by demand. Demand is determined by sentiment,
> > the same as the stock market.
> >
> > Many other things are determined by sentiment. Non-fungible tokens, art,
> > stamps, real estate, gold, anything you can buy. The price is determined by
> > what you can get for it, same as everything else.
> >
> >> Jeroen Belleman
> If you have a Mason jar full of Pandas buried in the backyard or a
> Hambleton hanging on the wall, at least you have something. A Bitcoin is
> strictly of notional value. You are correct about tangible items though.
> I'm afraid the survivalist types will get a rude awakening if their
> favorite scenario comes to pass and they can't but a can of baby formula
> with a panda.
>
> I was never particularly interested but lost interest completely when I
> realized it isn't even an effective means of exchange. I believe
> agreements denominated in bitcoin are only valid for a very short period
> of time (15 minutes?) because of the volatility.

https://youtu.be/GUs5y9leCyA

https://youtu.be/sG_v4bb2e4k

Re: OT crypto crash

<nah08h9rsm0abdn06kk3ras17p4or6ul9a@4ax.com>

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Subject: Re: OT crypto crash
Date: Sat, 14 May 2022 17:16:58 -0700
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 by: jlar...@highlandsniptechnology.com - Sun, 15 May 2022 00:16 UTC

On Sat, 14 May 2022 17:21:50 +0200, Jeroen Belleman
<jeroen@nospam.please> wrote:

>On 2022-05-14 16:30, jlarkin@highlandsniptechnology.com wrote:
>> On Sat, 14 May 2022 06:55:49 -0700 (PDT), Ed Lee
>> <edward.ming.lee@gmail.com> wrote:
>>
>>> On Saturday, May 14, 2022 at 6:18:03 AM UTC-7, amdx wrote:
>>>> On 5/13/2022 7:04 PM, John Larkin wrote:
>>>>> On Fri, 13 May 2022 18:57:46 -0500, amdx <am...@knology.net> wrote:
>>>>>
>>>>>> On 5/12/2022 3:05 PM, John Walliker wrote:
>>>>>>> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
>>>>>>>
>>>>>>>> I'm fairly convinced that crypto currencies will eventually fall out of
>>>>>>>> fashion when people wise up to just how much they contribute to global
>>>>>>>> warming. You would be hard pressed to invent something more wasteful of
>>>>>>>> energy for the value of the transactions processed.
>>>>>>> +1
>>>>>>>
>>>>>>> John
>>>>>> The article mentions Terra Luna Crypto, 10 days ago the price was $86.17
>>>>>> today it is $0.0001965.
>>>>>> To clarify, that is 19/100 of one cent. 5 weeks ago it was $116.41.
>>>>>>
>>>>>>> https://coinmarketcap.com/currencies/terra-luna/
>>>>>> Oh, just looked at the chart in the link, it is down another 45% in
>>>>>> the last hour since I looked. $0.0001037!!
>>>>>> Mikek
>>>>> Sell! Sell!
>>>>>
>>>> John, you should have bought, bought, bought! The price has quadrupled
>>>> from
>>>> the low yesterday! It is all the way up to $0.00039 per coin. :-)
>>>
>>> Even borrowed time is worth a little bit. UST (TerraUSD) is at $0.19. Terra Luna is designed to destroy UST tokens to push price up to $1, by printing more Luna. Currently, there are 6,530,000,000,000 Luna. They have to increase it several times. Only Lunatic would put new money into Luna.
>>
>> Beanie Babies, Thomas Kinkade paintings, little glass figurines,
>> Bitcoins, all essentially worthless.
>
>The same is true for dollars, strictly speaking. The whole economy is
>based on trust. As long as you can exchange your basically worthless
>tokens for something you need when you need it, the system works. It's
>scary, really.
>
>Jeroen Belleman

Dollars are used because they are expected to be a stable, mutually
respected token of the value of real things. That's why banks will
issue 30-year mortgages for 5%.

Bitcoins are used because they are expected to increase (or decrease)
hugely in value, purchased (or sold) by Greater Fools.

--

Anybody can count to one.

- Robert Widlar

Re: OT crypto crash

<jeb3e7F4g2gU1@mid.individual.net>

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From: bow...@montana.com (rbowman)
Newsgroups: sci.electronics.design
Subject: Re: OT crypto crash
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 by: rbowman - Sun, 15 May 2022 01:30 UTC

On 05/14/2022 04:14 PM, Lasse Langwadt Christensen wrote:
> søndag den 15. maj 2022 kl. 00.04.09 UTC+2 skrev rbowman:
>> On 05/14/2022 03:32 PM, Mike Monett wrote:
>>> Jeroen Belleman <jer...@nospam.please> wrote:
>>>
>>>> On 2022-05-14 16:30, jla...@highlandsniptechnology.com wrote:
>>>
>>> [...]
>>>
>>>>>>>>>> On Thursday, 12 May 2022 at 17:13:41 UTC+1, Martin Brown wrote:
>>>
>>>>>>>>>>> I'm fairly convinced that crypto currencies will eventually fall
>>>>>>>>>>> out of fashion when people wise up to just how much they
>>>>>>>>>>> contribute to global warming. You would be hard pressed to invent
>>>>>>>>>>> something more wasteful of energy for the value of the
>>>>>>>>>>> transactions processed.
>>>
>>> People fly in airplanes with no regard for their effect on global warming.
>>> People drive cars that waste energy when stuck in traffic.
>>> People use the internet with no regard for how much energy it uses.
>>> Why should anyone care about crypto?
>>>
>>> [...]
>>>
>>>>> Beanie Babies, Thomas Kinkade paintings, little glass figurines,
>>>>> Bitcoins, all essentially worthless.
>>>
>>> The stock market is a form of gambling. Your value can drop to zero in
>>> hours.
>>>
>>> Crypto price is determined by supply and demand. Supply is essentialy
>>> fixed, so price is determined by demand. Demand is determined by sentiment,
>>> the same as the stock market.
>>>
>>> Many other things are determined by sentiment. Non-fungible tokens, art,
>>> stamps, real estate, gold, anything you can buy. The price is determined by
>>> what you can get for it, same as everything else.
>>>
>>>> Jeroen Belleman
>> If you have a Mason jar full of Pandas buried in the backyard or a
>> Hambleton hanging on the wall, at least you have something. A Bitcoin is
>> strictly of notional value. You are correct about tangible items though.
>> I'm afraid the survivalist types will get a rude awakening if their
>> favorite scenario comes to pass and they can't but a can of baby formula
>> with a panda.
>>
>> I was never particularly interested but lost interest completely when I
>> realized it isn't even an effective means of exchange. I believe
>> agreements denominated in bitcoin are only valid for a very short period
>> of time (15 minutes?) because of the volatility.
>
> https://youtu.be/GUs5y9leCyA
>
> https://youtu.be/sG_v4bb2e4k
>

The first minute summed it up well. Overall my impression is blockchain
is a solution in search of a problem. We'll see.

Re: OT crypto crash

<t5q30u$13qk$2@gioia.aioe.org>

 copy mid

https://www.novabbs.com/tech/article-flat.php?id=96872&group=sci.electronics.design#96872

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From: Decadent...@decadence.org
Newsgroups: sci.electronics.design
Subject: Re: OT crypto crash
Date: Sun, 15 May 2022 05:27:58 -0000 (UTC)
Organization: Aioe.org NNTP Server
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 by: Decadent...@decadence.org - Sun, 15 May 2022 05:27 UTC

Ed Lee <edward.ming.lee@gmail.com> wrote in
news:5b81b481-dacb-4d83-b7d0-f18bd0aa2bb1n@googlegroups.com:

> On Friday, May 13, 2022 at 7:27:28 AM UTC-7,
> jla...@highlandsniptechnology.com wrote:
>> On Thu, 12 May 2022 07:11:11 -0700,
>> jla...@highlandsniptechnology.com wrote:
>> >
>> >https://uk.finance.yahoo.com/news/crypto-billionaires-vast-wealth
>> >-destro
> yed-183042529.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZHJ1Z
> GdlcmVwb3J0LmNvbS8&guce_referrer_sig=AQAAAMuSbpwV3EWdsJcEKThcK3HHpJ
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>> >
>> >not to mention all sorts of tech stocks that have lost 95% of
>> >their IPO price.
>> >
>> >Dot-bomb and tulip bulbs again... emotional trading in things
>> >with no underlying value. At least it didn't take terajoules to
>> >grow tulips.
>> >
>> >It's hard to feel sorry for some guy who is down to his last two
>> >billion dollars, but lots of ordinarily greedy people could be
>> >in big trouble with their wives too.
>> https://www.infowars.com/posts/suicide-threats-spike-on-reddit-aft
>> er-cryp
> to-crash/
>
> They are inexpedient traders. Never have more than 10% unhedged
> positions in cryptos, stocks or casino bets. Although i broke my
> own rule in the energy sector, they were too cheap and in BK area.
> I am currently in around 30% energy but 15% hedge. Most of my
> hedged positions are way higher than expected target price. But
> that's OK, i just don't get the huge profits like other traders.
>
>

Another jackass who needs to go down in zero value flames.
Hedge that stupid fuck.

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