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Is crypto era over?

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  • Registered Users Posts: 4,327 ✭✭✭Potatoeman


    It’s like someone signing a bad contract and deciding contracts should be illegal. Look here are more bad contacts therefore all contracts are bad.



  • Registered Users Posts: 775 ✭✭✭Pdoghue


    Super article here - interview with Yanis Varoufakis on  Crypto, the Left, and Techno-Feudalism.

    He's known for being against BTC and crypto generally - but he makes some good points here about CBDCs and the threat to Wall St, European bankers, etc.

    'That last move, the digital yuan, constitutes a revolution: when fully-fledged, it will equip every resident in China, but also anyone from around the world who wants to trade with China, with a digital wallet – a basic digital bank account. In one move, therefore, the commercial banks will have been ‘dis-intermediated’; or, in plain English, they will have lost their monopoly over the payments system. This is genuinely a radical break from finance as we have known it. And, yes, it is one that we should emulate in Europe and in the United States – which is, of course, why Wall Street and the rest of the West’s financiers will do their best to stop it, preferring to blow up the world rather than allow themselves to be… dis-intermediated.'



  • Registered Users Posts: 9 John M00re


    Crypto era is still in diapers, the industry keeps evolving at a very intense and interesting rate. I think we've only seen the start, not everything is good, obviously, but it doesn't mean the development of cryptos and blockchain isn't useful or attractive. I do believe the growth and stability of the crypto world will rely soon on amazing blockchain projects that use cryptocurrencies as a form of payment or investment. Lately, I've been impressed by the amount of investment options available for crypto holders https://www.cryptousage.com/invest/ I found some amazing options especially in the tokenized real estate market. I can't wait to see the next applications and benefits we'll have for cryptos in the near future.



  • Registered Users Posts: 2,251 ✭✭✭massdebater


    Reminder to everyone to not be clicking spammy links in posts, especially from users with nearly no post history...



  • Posts: 0 [Deleted User]


    Crypto kept money out of real assets like gold/silver over the last few years. .

    It paved the way for government issued digital currency too, which people probably wouldn't have accepted without it..

    A few are getting rich while enslaving the rest of us..

    A recent study showed crypto enthusiasts are pretty much psychopaths who don't care for anyone but themselves..That's what i would have thought knowing a few..



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  • Registered Users Posts: 2,251 ✭✭✭massdebater


    Really? Gold and silver have both outperformed the S&P over the past 3 years, when crypto was at it's most popular. Gold's market cap increase in that time was close to 4T. Total crypto market cap today around 2T...



  • Registered Users Posts: 9,397 ✭✭✭Shedite27


    Nice work finding the only period that Gold beat S&P. Every other period S&P is up...

    10 year - 150% v 17%

    5 year - 61% v 53%

    2 year - 39% v 13%



  • Registered Users Posts: 2,251 ✭✭✭massdebater


    The poster was saying crypto has kept money out of gold in the last few years, looking back 10 years isn't really relevant. Crypto has only really become mainstream in the last 4/5 years, and especially since 2020. Gold also beat the S&P over the last 12 months too. Fwiw, I own 0 gold, but plenty of S&P ETFs, it's just something I've noticed.



  • Registered Users Posts: 19,815 ✭✭✭✭Donald Trump



    Where are you getting your numbers from and are you sure you are comparing like-with-like for your three year period?



  • Registered Users Posts: 2,251 ✭✭✭massdebater


    Getting the numbers from google/any of the stock price apps, when I checked a couple of days ago it was something like gold +50% and S&P +45% over the previous 3 year period. Are you seeing different numbers for that timeframe?



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  • Moderators, Business & Finance Moderators Posts: 10,306 Mod ✭✭✭✭Jim2007


    Why would you be surprised? Outside the crypto bubble, smart money always goest to instruments with intrinsic value, it’s the only hedge against inflation. Telling a wealth client that you have a brilliant hedge for inflation based on putting his money into something who’s value is based on public perception is not going to fly.



  • Registered Users Posts: 9,397 ✭✭✭Shedite27




  • Registered Users Posts: 19,815 ✭✭✭✭Donald Trump




  • Registered Users Posts: 19,815 ✭✭✭✭Donald Trump



    I never said I was surprised. I just had a quick look and asked because I presumed the poster was not comparing like with like in saying gold outperformed the S&P for that window


    FYI, gold trades above its "intrinsic value" so to speak anyway.



  • Registered Users Posts: 9,397 ✭✭✭Shedite27


    What do you mean? Are you saying S&P500 V S&P?



  • Registered Users Posts: 19,815 ✭✭✭✭Donald Trump



    Total return assumes dividends are reinvested when received. There are total return tickers as well for major indices. If you just look at the price then you are ignoring the dividends - as you received them you blew them on coke and hookers. But you should still count them if you receive them. Gold can be leased as well but it's probably not that common for retail investors. You're probably not ever taking physical delivery yourself.

    If I buy an index at 100 today and it is 150 in three years, well the actual return to me is more than the 50 - it will also include any dividend yield.

    You can probably buy retail products that just pay on the price of the index too but that isn't buying the index - just referencing it.



  • Registered Users Posts: 4,327 ✭✭✭Potatoeman


    Who funded this study, what exactly is the definition of a crypto enthusiast? The people selling this line will invest in the military weapons and cheer on the next war as their investment grows on the suffering of others but sure it’s crypto that’s the real villain. Same nonsense for the green angle, the same people pushing this will hop on a private jet to their next meeting.



  • Posts: 0 [Deleted User]


    The CIA are behind Bitcoin..a few of ye might get rich, but you're just paving the way for digital state/bank run currencies that can be programmed for the rest of us..



  • Registered Users Posts: 2,251 ✭✭✭massdebater




  • Registered Users Posts: 4,327 ✭✭✭Potatoeman


    “Many crypto supporters believe governments are corrupt, and crypto avoids government corruption.”

    Maybe the problem is with government, why has it lost peoples trust?

    The sample size is also just 500. What a non-story.



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  • Registered Users Posts: 65,466 ✭✭✭✭unkel
    Chauffe, Marcel, chauffe!



    I suspect the only person they interviewed was McAfee. And they came to the right conclusion 😂



  • Registered Users Posts: 10,805 ✭✭✭✭patsy_mccabe


    Crypto is a fascinating subject. It's operating in full disclosure to everyone so people know all the facts. It's not like a regular ponzi scheme where people believe they are investing in say a genuine fund only to find out later it's all a scam. Bernie Madoff's fund for example.

    There are something like 8,000 different crypto currencies and rising every day. Even recently the market cap of Bitcoin fell below the 40% of the total crypto market cap. What does that tell you? Even people who believe in crypto, don't even believe bitcoin is the future. They have far more faith in the other non-bitcoin crypto currencies. Well, that's where the money is going.

    Warren Buffett the worlds greatest investor, is on record as saying that he believes all crypto will fizzle out into nothing. Hard to disagree with him.

    'If I ventured in the slipstream, Between the viaducts of your dream'



  • Registered Users Posts: 65,466 ✭✭✭✭unkel
    Chauffe, Marcel, chauffe!


    Warren Buffet is old skool, he has dismissed pretty much all new technology in the past and missed the boat on shares on them. Doesn't take away from his superior investment results of course. But I wouldn't go quoting him when it comes to crypto. As he says himself, he only invests in stuff he understands, say no more.



  • Registered Users Posts: 9,397 ✭✭✭Shedite27


    Yeah my theory on that correlation is that it's more professional players that's now invested in Crypto and they operate in more of a "risk on/risk off" process rather than looking at it as a seperate asset class. There's obviously no reason it should be correlated with the financial results of comapnies that have business models, rising and falling earings etc



  • Registered Users Posts: 1,142 ✭✭✭riddles


    Bitcoin could have been compared to the Andy Warhol Monroe painting it’s perceived value was it’s illiquidity. A currency needs to be liquid - surely the application of it as a currency is like chopping up the painting is many pieces.

    I guess as has been stated the POC has validated block chain and all that stuff the final real application is the challenge for government regulation.



  • Registered Users Posts: 106 ✭✭Dasein


    Yes



  • Registered Users Posts: 24,169 ✭✭✭✭Larbre34


    You hope.

    But no one can say. The wider the adoption of crypto has become, the more the need to anchor it to tangible assets has grown, to become institutional. Everything needs a value and the wild fluctuation and many systems operating in parallel means it doesn't have a digital gold standard which underpins it.

    We're about to see how crypto survives a mass inflationary episode, of the type that always sends investors running home to Momma and I'm not sure it will survive it.

    Having it in your basket is one thing, anyone who is still all-in with crypto is a fool.



  • Registered Users Posts: 5,754 ✭✭✭el diablo


    Thanks for your valuable and thought-provoking insight. You've definitely given us food for thought with this gem.

    We're all in this psy-op together.🤨



  • Registered Users Posts: 1,857 ✭✭✭Atlas_IRL


    Regulation needs to happen, its too scammy and what happened with Luna caused some people to kill themselves and others lost life savings.

    Where still years away from proper adoption but look at the rate crypto has grown since the last big crash in 2017, NFT space has been huge, DeFI is in its infancy but it shows what can be built and Metaverse & gaming will slowly coming into fruition in the this decade.

    It will get a lot better and these markets will get better but until there is regulation the scamming and ponzinomics will remain.


    This bear market is tough but nothing new, the same that **** on Crypto will continue to **** on it whilst it still over time gets bigger and bigger.



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  • Registered Users Posts: 296 ✭✭Ham_Sandwich


    the bitcoins were a one time thing a few people got rich now its all over people chasing after it will get nowhere



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