Is anyone else starting to become a bit worried? mod note in first post

Dohnjoe

Eric Cartman wrote: »

So just to ask, my reservations have always been the exit strategy, it seems like every crypto lets you throw as much money in as possible but is there any crypto with a really quick large money exit, like 1 million euro from crypto to my bank account for less than 5% fees in 48 hours ?

It wouldn't be advisable to sell it all at once, but the 24 hour volumes should give a clue

https://coinmarketcap.com/all/views/all/#USD

Most people would convert X coins or tokens to BTC or Eth, sensibly, and then if liquidating a large amount (e.g. over 100k) a financial advisor is often recommended for tax reasons/influx of cash to bank, etc

I spoke to financial advisors in Jan this year who said they had a lot of clients liquidating large amounts of crypto

TallyRand

makeorbrake wrote: »

It's no 'scam'. Here we go again...'scam', 'ponzi', 'pyramid'.

If you lose money because of your own conscious decisions, that's your own responsibility. Maybe it's a millennial thing but you speculate and you may win or lose. You can't go crying 'scam', 'ponzi' or 'pyramid' after the fact.

A 'scam' would be a 'dishonest scheme'. Someone has to run a scheme - so who is the culprit?

last year
13/12/2017 13:02
Avatar for makeorbrake
makeorbrake
Registered User
“Thanks all. At the back of my mind, I thought I had come across those concerns. Read so much about crypto, some of it doesn't always stay in the memory bank.


It's a shame there isn't a token/coin that could be used as a stability safe haven - without having to cash out into FIAT - which could be used at times when folks felt it necessary.

@Col. Jessup: Thanks for that link. However, whatever about flaws being exposed in a crypto that has at least been around for a while, I would be very nervous of using something straight out of the blocks. White papers can be presented and look pretty - but the reality for many crypto's is that once tested, they don't stand up. The vast majority are also simply just scams. I hope that one gets road tested and it ends up doing what it says on the tin”

All the above is a post by you 12 months ago, “the vast majority are also simply just scams”

You need to answer some of your own questions it seems

rapul

Sad Tallyrand, what has this thread turned into, people actually going out of there way to go through someone else's posts to prove there almighty opinion is correct

sexmag

TallyRand wrote: »

last year
13/12/2017 13:02
Avatar for makeorbrake
makeorbrake
Registered User
“Thanks all. At the back of my mind, I thought I had come across those concerns. Read so much about crypto, some of it doesn't always stay in the memory bank.


It's a shame there isn't a token/coin that could be used as a stability safe haven - without having to cash out into FIAT - which could be used at times when folks felt it necessary.

@Col. Jessup: Thanks for that link. However, whatever about flaws being exposed in a crypto that has at least been around for a while, I would be very nervous of using something straight out of the blocks. White papers can be presented and look pretty - but the reality for many crypto's is that once tested, they don't stand up. The vast majority are also simply just scams. I hope that one gets road tested and it ends up doing what it says on the tin”

All the above is a post by you 12 months ago, “the vast majority are also simply just scams”

You need to answer some of your own questions it seems

You need to reread what he wrote.

He didn't say there wasn't scams,he said there are surrounding crypto,a lot of bad people tried to capitalise and screw people but you cant paint them all with the same brush,is what he has said.

Makeorbrake has been one of the most consistent and reasonable crypto enthusiast in this forum,he calls it like it is

Grumpypants

Singularitynet guy was on Joe Rogan yesterday talking about AI and Crypto. Only got through an hour or so last night before i drifted off but he is super weird/smart :pac:

makeorbrake

TallyRand wrote: »

You need to answer some of your own questions it seems

Well, this is interesting. Am I under investigation?

Do I need to answer some of my own questions? All day, everyday. I don't apologize for that.

So, lets set some context, dude. Firstly, this is a 'discussion forum' and in a discussion forum, people tend to discuss in order to reach a better understanding. Unfortunately - here more than elsewhere it would seem - 'conversations' seem to get polarized. I have no issue in clarifying this but you'd have to wonder in what context you ended up unearthing a post of mine from a few days shy of 12 months ago.
There is a guy who's still active on this thread - who, some six or so months ago went trawling through my previous posts - and started making accusations based on things unrelated to crypto entirely (stuff I had posted in other sections of boards.ie), someone who shares your anti-crypto mindset. You would have to wonder about the rationale behind such a move, the intent behind it. However, I know in your case that it was simply a case of diligence, right? :P

The discussion at that time was about Tether. I have been pretty consistent on my view on Tether from start to finish - apparently as you would have seen if you've just read through my posts over the last year. There are serious question marks hanging over Tether over the past 12 months and the company have failed to act to clear up that controversy.

makeorbrake wrote:

but the reality for many crypto's is that once tested, they don't stand up.

Just so that there is no confusion, what I mean't by this is that most cryptos back then - and even now - have not had the road testing that Bitcoin has had. Over the years, Bitcoin faced multiple brick walls albeit that it overcame most of them. It currently has a couple to overcome.

makeorbrake wrote:

The vast majority are also simply just scams. I hope that one gets road tested and it ends up doing what it says on the tin

Young projects that have little more than a whitepaper and no other skin in the game - of which there were many of coming into December 2017 - had not proven themselves.
If you are reviewing all my posts, you'll know that more recently I also said that there were scams surrounding crypto but that these don't define the cryptocurrency industry.

Are there bad actors in the industry? Definitely.

Can someone perpetrate a scam in the guise of a whitepaper? For sure.

However, as a proportion of all projects - when viewed through the metric of market capitalization - we're talking about a percentile of projects. I have already stated many times that the vast majority of those smaller projects which are going no-where will fade away.

Back on point with the most recent discussion (although if you'd like to trawl through posts of mine from further back - have at it).....

The point of discussion turned on the fact that you - and a few others here - have consistently argued that cryptocurrency as a whole is a 'scam', a 'ponzi scheme' and/or a 'pyramid scheme'. Furthermore, some people in the banking industry or government (the most recent coming this very week from a former Israeli PM) have been consistently using these terms with a view towards sullying crypto. It's bad minded and it comes from a prejudicial viewpoint.

There were and are many frauds perpetrated in the conventional stock investing world (Jordan Belfort anyone?). However, I don't see you and these other guys declaring that the entire stock market industry is a scam?? The same argument stands when it comes to people saying that crypto is used for criminality (I'm sure there is a level of criminality in terms of crypto usage). However, you never hear these same people say a word when it comes to things like this - where HSBC paid $2 Billion in fines yet not a single person spent a day in prison.

In summary, I stand over my post on this forum on the 13th December 2017 and my discussion of this subject more recently. However, I'm quite happy to be wrong. If - your 'investigation' throws up any other questions, feel free to post them here. Discussion on message boards down through the years has informed me and has often led to me changing my opinion or the forming of my opinion on a subject. It's for that reason, I always welcome the contrarian view - and have done so consistently here. However, you would wonder about some contributions here and the motivations behind them.

grindle

rapul wrote: »

Sad Tallyrand, what has this thread turned into, people actually going out of there way to go through someone else's posts to prove there almighty opinion is correct

Sadder if they don't come back with "Oops, can't read properly - my mistake!" because they certainly haven't proven their point correct.

Maybe acknowledging their mistake would be a scam, just like everything ever traded has been a scam. Stones, seashells, spices, gold, property of any kind ever considered valuable and sold for profit? Oh yeah, of course - all a scam! If one person profits from a trade and the other merely owns what they've paid for, sher isn't that a scam?

Imagine all the actual scams that could be found if these people bothered to go looking for them. Ah well, easier to lump it all together, refuse to form coherent arguments and regurgitate whatever points they think they've made while ignoring any valid points.

"It's a bubble man, it's gone, goodbye, sayonara, ciao, etc etc..."

:rolleyes:

Tinder Surprise

grindle wrote: »

"It's a bubble man, it's gone, goodbye, sayonara, ciao, etc etc..."

:rolleyes:

I've $1000 annoying me and burning a hole in my disposable income wallet that I would like to blow on the next bubble

all advice welcome

sexmag

Tinder Surprise wrote: »

I've $1000 annoying me and burning a hole in my disposable income wallet that I would like to blow on the next bubble

all advice welcome

If you want to invest in bubbles try glow in the dark ones, they're super fun

JJJJNR

Retests on eth in the last week have gone from 91, 90, 92, 93 retesting 93.xx a good few times which is creating a nice bit of concavity on the charts.

Interesting looking couple of weeks ahead.

Tinder Surprise

JJJJNR wrote: »

Retests on eth in the last week have gone from 91, 90, 92, 93 retesting 93.xx a good few times which is creating a nice bit of concavity on the charts.

Interesting looking couple of weeks ahead.

You have to go back as far as May'17 to find ETH at current levels.

Whats your gut telling you?

Dohnjoe

Tinder Surprise wrote: »

You have to go back as far as May'17 to find ETH at current levels.

Whats your gut telling you?

I've good long term confidence in Eth, don't know how that will translate into market price in current climate though

There is a lot of flux at the moment, market has taken a severe dive within a bear, ICOs are apparently dumping Eth to fund themselves/survive

Between Jan and June next year, fingers crossed we'll see some solutions for scaling and other developments that should improve Eth and restore confidence in it (still are several outstanding issues)

Again, usual disclaimer, it could all go to nothing, but I "feel" good long term on Eth. That said I have next to no idea how long this "long term" will be, last one was nearly 3 years

TA in crypto for anything beyond a week is a joke

smacl

Dohnjoe wrote: »

I've good long term confidence in Eth, don't know how that will translate into market price in current climate though

Very much the same, but my gut feeling is that it will go down further before it goes up. Past few months the pattern seems to have been periods of relative stability followed by significant drops to new stable period at a lower level. I'm planning to buy into ETH again at some point but I'm waiting to see a change in this pattern even if I do miss out on the low point. Standard caveat applies, so please treat this as no more than idle speculation and not advice.

Tinder Surprise

not gonna lie...been out of the scene for months now

aint there a ETH 2.0 announced or major update soon?

JJJJNR

Eth just got dumped...

Dohnjoe

Yup, unsurprising. Another 15 or 20% and I'll be interesting in possibly buying more

JohnnyFlash

When are the latest Bitmain figures due to be released? Heavy losses there could trigger a massive sell off. If they want to pivot into creating dedicated chips for ML and AI then they will need to liquidate their crypto holdings to remain solvent before their IPO.

JJJJNR

https://ambcrypto.com/ethereum-eth-usd-technical-analysis-bull-closes-in-on-the-bear

JJJJNR

Tinder Surprise wrote: »

You have to go back as far as May'17 to find ETH at current levels.

Whats your gut telling you?

Pizza!

TallyRand

rapul wrote: »

Sad Tallyrand, what has this thread turned into, people actually going out of there way to go through someone else's posts to prove there almighty opinion is correct

I actually came across that post from makeorbrake looking for something else in this forum scam related, didn’t seek it out. So didn’t go out of my way.........

But it’s gas because someone in the hive blockchain thread DID intentionally go out if their way to look through my post history to my very first post ever to try and nail me and yet that didn’t warrant any commentary from anyone here who finds my post sad. Could have done with support lads but I’m sure I’ll survive

Either way, shouldn’t it be play the ball not the man? It’s very different language now from 12 months ago

JohnnyFlash

It’s like lads arguing over the parking ticket on the windscreen when all the tyres have been stolen.

makeorbrake

TallyRand wrote: »

It’s very different language now from 12 months ago

It's not different at all as has been explained to you but it seems you want to interpret it the way that suits your world view. I was the one that wrote those comments then and these comments now. I think I would know my own intention...




(the after hours styled comment from that other guy - ignored).

TallyRand

makeorbrake wrote: »

Well, this is interesting. Am I under investigation?

Do I need to answer some of my own questions? All day, everyday. I don't apologize for that.

So, lets set some context, dude. Firstly, this is a 'discussion forum' and in a discussion forum, people tend to discuss in order to reach a better understanding. Unfortunately - here more than elsewhere it would seem - 'conversations' seem to get polarized. I have no issue in clarifying this but you'd have to wonder in what context you ended up unearthing a post of mine from a few days shy of 12 months ago.
There is a guy who's still active on this thread - who, some six or so months ago went trawling through my previous posts - and started making accusations based on things unrelated to crypto entirely (stuff I had posted in other sections of boards.ie), someone who shares your anti-crypto mindset. You would have to wonder about the rationale behind such a move, the intent behind it. However, I know in your case that it was simply a case of diligence, right? :P

The discussion at that time was about Tether. I have been pretty consistent on my view on Tether from start to finish - apparently as you would have seen if you've just read through my posts over the last year. There are serious question marks hanging over Tether over the past 12 months and the company have failed to act to clear up that controversy.


Just so that there is no confusion, what I mean't by this is that most cryptos back then - and even now - have not had the road testing that Bitcoin has had. Over the years, Bitcoin faced multiple brick walls albeit that it overcame most of them. It currently has a couple to overcome.


Young projects that have little more than a whitepaper and no other skin in the game - of which there were many of coming into December 2017 - had not proven themselves.
If you are reviewing all my posts, you'll know that more recently I also said that there were scams surrounding crypto but that these don't define the cryptocurrency industry.

Are there bad actors in the industry? Definitely.

Can someone perpetrate a scam in the guise of a whitepaper? For sure.

However, as a proportion of all projects - when viewed through the metric of market capitalization - we're talking about a percentile of projects. I have already stated many times that the vast majority of those smaller projects which are going no-where will fade away.

Back on point with the most recent discussion (although if you'd like to trawl through posts of mine from further back - have at it).....

The point of discussion turned on the fact that you - and a few others here - have consistently argued that cryptocurrency as a whole is a 'scam', a 'ponzi scheme' and/or a 'pyramid scheme'. Furthermore, some people in the banking industry or government (the most recent coming this very week from a former Israeli PM) have been consistently using these terms with a view towards sullying crypto. It's bad minded and it comes from a prejudicial viewpoint.

There were and are many frauds perpetrated in the conventional stock investing world (Jordan Belfort anyone?). However, I don't see you and these other guys declaring that the entire stock market industry is a scam?? The same argument stands when it comes to people saying that crypto is used for criminality (I'm sure there is a level of criminality in terms of crypto usage). However, you never hear these same people say a word when it comes to things like this - where HSBC paid $2 Billion in fines yet not a single person spent a day in prison.

In summary, I stand over my post on this forum on the 13th December 2017 and my discussion of this subject more recently. However, I'm quite happy to be wrong. If - your 'investigation' throws up any other questions, feel free to post them here. Discussion on message boards down through the years has informed me and has often led to me changing my opinion or the forming of my opinion on a subject. It's for that reason, I always welcome the contrarian view - and have done so consistently here. However, you would wonder about some contributions here and the motivations behind them.

When did I say all crypto is a scam? I said it’s got scams left, right and centre, and if you read the full back and forth between us I have quoted then you see we actually agree.

We both actually agree that there are a load of scams out there in sh1tty white papers Mickey Mouse coins, we only seem to differ over the language to articulate that point I think

makeorbrake

TallyRand wrote: »

When did I say all crypto is a scam? I said it’s got scams left, right and centre, and if you read the full back and forth between us I have quoted then you see we actually agree.

We both actually agree that there are a load of scams out there in sh1tty white papers Mickey Mouse coins, we only seem to differ over the language to articulate that point I think

Ok, we'll see. Here you go => www.coinmarketcap.com

As an expert on this, please go down the list and let us know which project is a scam with them sorted in order of market capitalisation - large to small.

Tallyrand wrote:

Most people think the whole thing is a scam, I don’t remember that attitude prevalent in the early internet days

So YOU don't think that the 'whole thing' is a scam, then? I didn't quite see that clarification.

Tallyrand wrote:

Bitcoin is crypto, perception is reality.

So if 'bitcoin is crypto' and you are confirming to us right now that Bitcoin is not a scam, ergo crypto as a whole is not a scam, right?

Tallyrand wrote:

It’s scam city in crypto, more scams than “not scams”

So which is it? Is all of crypto a scam or not?

Theres a total market cap. of 120 billion in crypto right now. What percentage of that is accounted for by 'scams'?

Many times I made the distinction that there were projects out there that were vapourware at the embryonic stage. In this discussion, I made the distinction that those projects don't define crypto. You say we were in agreement but I didn't see you come back and say that. It still doesn't seem to correlate with some of your comments above...

TallyRand

makeorbrake wrote: »

Ok, we'll see. Here you go => www.coinmarketcap.com

As an expert on this, please go down the list and let us know which project is a scam with them sorted in order of market capitalisation - large to small.


So YOU don't think that the 'whole thing' is a scam, then? I didn't quite see that clarification.


So if 'bitcoin is crypto' and you are confirming to us right now that Bitcoin is not a scam, ergo crypto as a whole is not a scam, right?


So which is it? Is all of crypto a scam or not?

Theres a total market cap. of 120 billion in crypto right now. What percentage of that is accounted for by 'scams'?

Sweet suffering jesus, you have been totally caught out saying loads of scams then “what scams, I don’t see any scams” now trying to twist my words to gain a score

Let’s go, first point - I’m not an expert so can’t pick the list, you seem more sure so please by all means?

2nd) “MOST people think it’s a scam” I don’t need to qualify or clarify for you but I think that it’s quite clear I mean most people as in people on the street who have no time or inclination for crypto

3) ergo all you like, to most people the perception is bitcoin is reality. Do you actually not realize that? Come down from your crypto tower and take a breath

4) what do you mean which is it? When quoting me saying it’s more scams than “not” scams (ergo mostly scams) when I have ever flip flopped like your good self “there is no scams” to “most are scams”

Black and white, ergo or try twist all you like. But I rest my case

makeorbrake

TallyRand wrote: »

Sweet suffering jesus, you have been totally caught out saying loads of scams then “what scams, I don’t see any scams” now trying to twist my words to gain a score

And I'll remind you again, it's a discussion we're having here. I've been 'totally caught out' with nothing. The whole point of this discussion is that there are people going around saying that cryto is a scam and that's not accurate. It's plain wrong.

TallyRand wrote: »

Let’s go, first point - I’m not an expert so can’t pick the list, you seem more sure so please by all means?

Well are any in the top 20 scams as by market cap, that accounts for the vast majority of the crypto industry right now? It's a pretty important distinction as otherwise we have guys going round saying the whole industry is a scam - when thats not the truth. (why point to me for the answer this is your belief - presumably its based on ...something?).

TallyRand wrote: »

2nd) “MOST people think it’s a scam” I don’t need to qualify or clarify for you but I think that it’s quite clear I mean most people as in people on the street who have no time or inclination for crypto

Yes, you very much do! I'll do it for you shall I? Even though we didn't see a clarification of it in that post, you have told us that you don't believe the more significant coins are scams. Tell me i'm wrong. Therefore, it is plain wrong for anyone to go running around saying the industry as a whole is a scam.

TallyRand wrote: »

3) ergo all you like, to most people the perception is bitcoin is reality. Do you actually not realize that? Come down from your crypto tower and take a breath

Totally disingenous. If Bitcoin accounts for the bulk of crypto (which you said - and which you say most people believe too), then its clear that the cryptocurrency industry is not a scam.

TallyRand wrote: »

what do you mean which is it? When quoting me saying it’s more scams than “not” scams (ergo mostly scams) when I have ever flip flopped like your good self “there is no scams” to “most are scams”

That's right - deflect and don't answer and turn it back on me.
Those 'projects' I was referring to at that time - had a whitepaper and little else. They don't account for jack when it comes to percentage of market cap.

You are being disingenuous. It all boils down to this...


Do you still maintain that the cryptocurrency industry is a scam or is it a legitimate industry in it's own right?

Yes or no.

unkel

Last winter I heated my house for free and I made a nice profit mining ETH

This winter, all my hardware has been paid for. I'm currently making zero profits mining ETH, in fact it is costing me money to mine. But to describe it differently, I am heating my house cheaply

#notsoworried

worded

unkel wrote: »

Last winter I heated my house for free and I made a nice profit mining ETH

This winter, all my hardware has been paid for. I'm currently making zero profits mining ETH, in fact it is costing me money to mine. But to describe it differently, I am heating my house cheaply

#notsoworried

Tell that to the polar bears drowning from lack of ice though.

Crypto doesn’t seem to have green credentials though does it ?

smacl

worded wrote: »

Tell that to the polar bears drowning from lack of ice though.

You might want to explain how a guy running miners, from power he generates himself, to bring his house to temperature he would have it at regardless of whether he was mining, is negatively affecting the polar ice caps?

grindle

JohnnyFlash wrote: »

It’s like lads arguing over the parking ticket on the windscreen when all the tyres have been stolen.

More like lads arguing over whether or not Bugatti's ever existed in the first place just because normal cars outnumber them vastly.

JohnnyFlash

smacl wrote: »

You might want to explain how a guy running miners, from power he generates himself, to bring his house to temperature he would have it at regardless of whether he was mining, is negatively affecting the polar ice caps?

How much noise does that rig make to heat the house? Is it a fire hazard? Can you set the times you want it to heat the place or not? Does it heat the water? Are you exceeding your supply agreement with the ESB? How do you distribute this heat to the rooks in your home ina controlled manner. Can you zone the heat so different temperatures apply to different rooms?

When the ESB talk about the electrification of heat I’m fairly sure they aren’t talking about banging a load of graphic cards into a box and sticking it under the stairs so it generates heat while mining for a cryptocoin that no one uses in anger and which has lost >90% of its value.

Proof of Work mining is an environmental disaster. It promotes a system where you prove your loyalty by throwing huge amounts of energy and compute power at solving maths problems. One of the main positives of this spectacular price collapse is the news of huge mining operations going bust, and the death of the home mining operation.

smacl

JohnnyFlash wrote: »

How much noise does that rig make to heat the house? Is it a fire hazard? Can you set the times you want it to heat the place or not? Does it heat the water? Are you exceeding your supply agreement with the ESB? How do you distribute this heat to the rooks in your home ina controlled manner. Can you zone the heat so different temperatures apply to different rooms?

When the ESB talk about the electrification of heat I’m fairly sure they aren’t talking about banging a load of graphic cards into a box and sticking it under the stairs so it generates heat while mining for a cryptocoin that no one uses in anger and which has lost >90% of its value.

And that affects the environment negatively how exactly? Getting your straw men all in line there Johnny? And FWIW, GPU rigs don't make much noise and if he's using energy he's generated himself, how exactly would that lead to him exceeding his supply agreement with the ESB?

Proof of Work mining is an environmental disaster.

When it comes to huge mining systems, I've no argument there. That said, in terms of ongoing environmental damage and the polar ice caps, crypto represents a very tiny fraction of the overall problem. If you look at the carbon footprint of the posters on this board, whether crypto fans or sceptics, I'd imagine how many cars are in the family, whether they holiday abroad or locally, and how they heat their houses would play a much larger role than any interest in crypto. In Unkel's case, I'd say his interest in crypto means that he has a smaller carbon footprint than his neighbours burning oil, gas or coal.

It promotes a system where you prove your loyalty by throwing huge amounts of energy and compute power at solving maths problems. One of the main positives of this spectacular price collapse is the news of huge mining operations going bust, and the death of the home mining operation.

Yep, and as you're well aware it is a system that most new crypto currencies are moving away from, but you seem to forget that as it doesn't suit your narrative.

JJJJNR

worded wrote: »

Tell that to the polar bears drowning from lack of ice though.

Crypto doesn’t seem to have green credentials though does it ?

You don't believe all that fake environmental industry bull do you. I thought intelligent people question everything.

JohnnyFlash

smacl wrote: »

And that affects the environment negatively how exactly? Getting your straw men all in line there Johnny? And FWIW, GPU rigs don't make much noise and if he's using energy he's generated himself, how exactly would that lead to him exceeding his supply agreement with the ESB?



When it comes to huge mining systems, I've no argument there. That said, in terms of ongoing environmental damage and the polar ice caps, crypto represents a very tiny fraction of the overall problem. If you look at the carbon footprint of the posters on this board, whether crypto fans or sceptics, I'd imagine how many cars are in the family, whether they holiday abroad or locally, and how they heat their houses would play a much larger role than any interest in crypto. In Unkel's case, I'd say his interest in crypto means that he has a smaller carbon footprint than his neighbours burning oil, gas or coal.



Yep, and as you're well aware it is a system that most new crypto currencies are moving away from, but you seem to forget that as it doesn't suit your narrative.

I keep hearing that crypto is moving away from the morally repugnant proof of work model towards alternative proofs such as proof of stake. But where are they? That weird looking Ethereum guy has been making promises for years about it for years, but nothing has emerged. Cleverer men and women than me have suggested that proof of stake will invariably lead to centralisation anyway and then all you have is a really slow database.

smacl

JohnnyFlash wrote: »

I keep hearing that crypto is moving away from the morally repugnant proof of work model towards alternative proofs such as proof of stake. But where are they? That weird looking Ethereum guy has been making promises for years about it for years, but nothing has emerged. Cleverer men and women than me have suggested that proof of stake will invariably lead to centralisation anyway and then all you have is a really slow database.

I keep hearing that cars are moving away from the morally repugnant internal combustion engine, which FWIW is doing rather more damage to the environment than crypto, but it would seem these things take time. ETH had initially planned on moving from PoW to PoS via a hybrid stage which is no longer the case, but it is still their main focus for development. More here.

Pintman Paddy Losty

Did anyone hear the cryptocurrency segment on Sean O Rourke this morning? He revisited some canny crypto investors in January and again this week.

https://itunes.apple.com/ie/podcast/rt%C3%A9-today-with-sean-orourke/id698141459?mt=2&i=1000425191379

Worth a listen. 10.mins long.

JohnnyFlash

Pintman Paddy Losty wrote: »

Did anyone hear the cryptocurrency segment on Sean O Rourke this morning? He revisited some canny crypto investors in January and again this week.

https://itunes.apple.com/ie/podcast/rt%C3%A9-today-with-sean-orourke/id698141459?mt=2&i=1000425191379

Worth a listen. 10.mins long.

Just listened to it. Lucky that the guys were canny enough to take out their initial investment. It’s always telling that they never tell you which projects they are invested in. Professor Brian Lucey pulled no punches at the end, did he? A speculative mania more akin to gambling.

JohnnyFlash

JohnnyFlash wrote: »

Just listened to it. Lucky that the guys were canny enough to take out their initial investment.

Yeah, was it just me that had some difficulty believing bits of that?

Like, he went from gung ho before Christmas, "this is just the beginning" etc, to taking his initial investment out jan 5th..

JohnnyFlash

[Deleted User] wrote: »

Yeah, was it just me that had some difficulty believing bits of that?

No, I found it very difficult to believe as well. On the one hand he invested everything he had in it, and believed the price would continue to rise, yet he was astute enough to withdraw his initial investment. Perhaps so, but it’s estimated that over 90% of crypto speculators have lost money. Maybe the luck of the Irish is real?!

Ah, it sucks, and I feel bad laughing..but it is kind of hilarious all the same..

makeorbrake

Schadenfreude alive and well it would seem....but to be expected as it's filtered into some of the 'opinions' expressed here.

unkel

JohnnyFlash wrote: »

How much noise does that rig make to heat the house? Is it a fire hazard? Can you set the times you want it to heat the place or not? Does it heat the water? Are you exceeding your supply agreement with the ESB? How do you distribute this heat to the rooks in your home ina controlled manner. Can you zone the heat so different temperatures apply to different rooms?

Rigs are very quite. Audible but not annoying. The hottest parts are the GPU cores, which never go over about 75C, so no, not a fire hazard. My water is heated mostly by solar tubes. My miners are running up to 100% on solar PV (around midday on a sunny day). I am not exceeding my supply agreement with the ESB. As for zoning, I have one medium size rig in the living room (where we like our temp to be the highest). One larger rig in the large conservatory / kitchen area and one small rig in the attic. We now only use 3 radiators in the house (on the ground floor), and only a few hours a day, even on a cold day. These radiators are fed from a modern 98% efficient condensing gas boiler.

Hope that answers all your questions? My family car is a full battery EV too. I think, even with my mining, that my family is a hell of a lot greener than the average

Tinder Surprise

ETH just broke the $100 floor.

interesting times

think I might transfer that $1000 to coinbase soon

smacl

Tinder Surprise wrote: »

ETH just broke the $100 floor.

interesting times

think I might transfer that $1000 to coinbase soon

32 ETH gets you a stake holder position when and if Casper hits which is probably the level I'd be looking at.

el diablo

JJJJNR wrote: »

You don't believe all that fake environmental industry bull do you. I thought intelligent people question everything.

Pretty sure that nobody has ever accused worded of being intelligent.

And apparently crypto mining worldwide uses over 75% renewable energy (mostly hydro) so I'm not convinced about the environmental argument.

TheAnalyst_

JJJJNR wrote: »

So another h&s pattern has formed on bitcoin, this time bigger than before. Buy signal usually but don't take my word on it.

What's your advice now? Buy?

TheAnalyst_

This stuff is hilarious.
https://www.newsbtc.com/2018/12/06/bitcoin-price-watch-btc-usd-bounce-from-lows-could-fade-soon/

Sleeper12

TheAnalyst_ wrote:

This stuff is hilarious.

I read this earlier but the price has since dropped below $3600. So the part where it says its recovering nicely is a bit meaningless.

JJJJNR

TheAnalyst_ wrote: »

What's your advice now? Buy?

No wait for another h&s. It'll happen again, 10 euro gain the last time.

grindle

Figured it'd be best not to infect what's supposed to be a lighthearted (oh-so-very rare!) thread with more of this stuff, so:

grindle wrote: »

This would be so funny. Please let it happen.

TallyRand wrote: »

Why would that be funny?

The memes of crypto get better the worse things get. People revert to gallows humour. Obviously it's terrible for anybody who's banking on that money going up consistently but they knew the risks, or if they didn't they certainly understand them now. I don't want anybody to lose their shirts but some people use humour while it's happening.

TallyRand wrote: »

What coins do you fancy aside from the glut of sh1t coins? Eth your only tech / project you like?

There are tons I like whether I think their value will increase or not because they're sound ideas but could end up being terribly implemented or (especially for ERC-20 tokens) hampered near-term by scalability issues, in which case they could have to pull the plug, plunge to zero - I'm okay with that.
From the top 100: ETH, XMR, DAI, NANO, BAT, SIA, GNT, BNB, OMG, RVN
Many bags below those.

TallyRand wrote: »

This is why I can’t wrap my head around crypto, most of you here slag off bitcoin, is it good or bad in your eyes?

Here and now I don't think it's good for the space. It's a very big brand and it's secure due to the sheer cost of hobbling it temporarily but Blockstream have had Bitcoin hog-tied and double-fisted for a while now. I don't trust them, I don't trust their devs & I think their ethics are diametrically opposed to what Bitcoin was set up to be. Most of the Bitcoin drama of the past couple of years would have been avoided if they'd just increased blocksize sooner.
I hadn't noticed much BTC slagging here tbh. Most are fans of it, some get sucked into the Store-of-Value meme as if it means anything and maybe that actually becomes a reality? Maybe Core and Blockstream are genuinely using that meme to Trojan Horse the original goal because if there are ever trillions of USD tied up in it they'll be able to push updates through that would earn them the governmental stink-eye nowadays.

Everything should be critiqued btw, even Ethereum. If you were to listen to Vlad Zamfir speak about Ethereum you'd think he hated it, but he's just hell-bent on making it better. Vitalik constantly gives out shít about PoW and Johnny thinks a switch can be flicked to just make PoS happen with no problems. All the concerns of centralisation via PoS are being worked out, they've had to figure out how best to limit whales reaping the most rewards, how to make things more awkward for large wallets and how to punish those trying to exploit the system. It's a complex task.
Satoshi solving the trust problem was one thing and having some huge electrical cost securing the network was the easiest way to do it - Satoshi incorrectly assumed that sane BTC devs would increase blocksize as the network was scaling up in users - adding another layer of complexity on top in order to reduce wasted energy or compute cycles whilst retaining it's decentralised properties requires a lot of forward thinking about how sharding should be implemented in the most secure way possible. Bitcoin has the benefits of starting out valueless and of being fairly "dumb". Not as in "it's not a smart idea" but it's only job is to say "You own this now", "I own this now" or "We sign that he owns those" in the case of multi-sigs. Ethereum doesn't have that luxury, if they get things majorly wrong with this it's a colossal fúck-up.
e.g. of a relatively minor fúck-up...or maybe a miner-skewed fúck-up... for current prices the ETH issuance right now is a big deal to people who want the price to go up. It's like having an oversupply of oil, price without requisite buy pressure will go down. Given the ICO craze died as people are waiting to see how the SEC moves around the ecosystem and with ETH not currently scaling due to most of their time given over to hypothesising game theories and programming and testing them, well...there's not much buy pressure. Price goes down.