World of crypto

[NottsRam77]

1 hour ago, Eddie said:

One man's pyramid is another man's ponzi.

Correct and just Like our fiat monetary system lol

[NottsRam77]

2 hours ago, Stive Pesley said:

Appreciate all the links @NottsRam77 it's a really fascinating topic

I was wondering why it was capped arbitrarily at 21 million BTC and from what I can find the only explanations are that it was to control price fluctuations by throttling the supply. Which seems odd - given the obvious price fluctuations that BTC is known for.

Plus it also talks about when all 21million are mined that the price should then stabilise - which seems counter-intuitive to why the celing was set at 21 million

I think we discussed earlier in the thread my concerns about the mining mechanism being so power intensive, which is another issue in the current climate crisis. It would be kind of ironic if by 2140 the last BTC was mined by the last human left on earth!

As an IT guy it just seems like a very cleverly designed system, but one that no one really thought through. I guess in 2008 we still had our heads in the sand a little but about power being an infinite and cheap resource. Still not really got my head around why mining the coins has to be a thing at all

 

Very interesting u bring up the climate / environental issue

did u know btc is now being used to make businesses carbon neutral by taking methane out of the waste cycle of energy production. 
 

its an issue the bitcoin community are working very hard on

https://cryptoslate.com/research-heres-how-bitcoin-mining-can-help-slow-climate-change/?amp=1

uk bitcoin policy are presenting to the uk governement how btc could help the uk meet its carbon neutral target ahead of schedule

Edited May 24, 2023 by NottsRam77

[Igor_111]

On 23/05/2023 at 19:36, NottsRam77 said:

😂

no but i have created this epic new coin 

ramcoin.

Its the next big thing. 😉🐏🐏🔥

I can make that happen if there's enough interest. 

We'd obviously need liquidity and an idea regarding tokenomics etc 

I'd imagine that it would be our 'thing'.

A bit of fun. But who knows eh. 

If there was a Wrexham coin prior to the media frenzy, that would have gone loopy. 

Actually... 🤔🤔🤔😁

[NottsRam77]

19 hours ago, Igor_111 said:

I can make that happen if there's enough interest. 

We'd obviously need liquidity and an idea regarding tokenomics etc 

I'd imagine that it would be our 'thing'.

A bit of fun. But who knows eh. 

If there was a Wrexham coin prior to the media frenzy, that would have gone loopy. 

Actually... 🤔🤔🤔😁

Lol

as fun as it would be i dont want to be responsible for people losing money on another coin that is made up and serves no fundamental purpose

as fun as the idea is …. (Not the scamming part, the notion of a ramscoin bit) 

 

[Day]

 

[Comrade 86]

2 hours ago, David said:

 

Hard to grasp why they'd crack down on alt coins on the basis of the behaviour of exchanges. Equally, even before recent events, it's even harder to understand why investors are holding their crypto assets on platforms that are only really geared to allow them to buy and sell tokens. Why use third party digital wallets, when a $50 Trezor hardware wallet is bulletproof by comparison. It makes about as much sense as to Hatton garden to buy diamonds, then leaving them in the store for safekeeping because the shop's got CCTV right?

Meanwhile, the US Treasury has been on the verge of default for weeks. More cynical minds than mine might be tempted to join the dots. It's not lost on me that it's a pretty convenient time to be deflecting attention away from the rocky state of traditional fiat by decrying the crypto equivalent.

Hmmm...

Edited June 6, 2023 by 86 Hair Islands

[NottsRam77]

2 hours ago, David said:

 

Haha i knew this would come up and its 

really bad news for cryto but f****** brilliant for bitcoin.

as i have said previously, anything that isnt bitcoin is a centrally controlled scam and needs to be scrutinised 
 

to summerise.

the SEC are cracking down on what they deem are unregistered securties and anyone that sells them. 
 

proof of stake coins/ tokens (any shitcoin) are just this and they all fail the howey test ( the test the sec use to determine what is and what isnt a security) 

They are also suing binance for the same thing. They are prosecuting the sale of all the s*** ada, solana, pokeadot, xrp, solana, dodge, etc etc as they are unregistered securities

only Btc is truly safe and ethereum (although thats controversial) is also  excempt from This list. 

so in summary,

Brilliant news for bitcoin, let the sec do their job, wash out all the s*** and let bitcoin fly.

this is in itself and admission from the highest of the highest of governing bodies that bitcoin is real and going nowhere 

bring on 2024/25

*mic drop, walks off stage lol

Edited June 6, 2023 by NottsRam77

[NottsRam77]

7 minutes ago, 86 Hair Islands said:

Hard to grasp why they'd crack down on alt coins on the basis of the behaviour of exchanges. Equally, even before recent events, it's even harder to understand why investors are holding their crypto assets on platforms that are only really geared to allow them to buy and sell tokens. Why use third party digital wallets, when a $50 Trezor hardware wallet is bulletproof by comparison. It makes about as much sense as to Hatton garden to buy diamonds, then leaving them in the store for safekeeping because the shop's got CCTV right?

Meanwhile, the US Treasury has been on the verge of default for weeks. More cynical minds than mine might be tempted to join the dots. It's not lost on me that it's a pretty convenient time to be deflecting attention away from the rocky state of traditional fiat by decrying the crypto equivalent.

Hmmm...

See my reply to dave

[Comrade 86]

14 minutes ago, NottsRam77 said:

See my reply to dave

Seen it but don't agree with the blanket dismissal of altcoins as outright scams. In fact I'd say that was plain nonsense. Plenty of valid blockchain ecosystems are being built which will have a tangible value as uptake increases. You've tarred every coin with the same brush, which is the polar opposite of what you were saying even 12 months back. Sure, there are many that are questionable, but to dismiss all of them the way you have is neither helpful, nor accurate and I say this as someone who is holding Bitcoin. By your way of thinking, the projected outcome is that the only future currency will be Bitcoin and I'm afraid that's utter nonsense.

Edited June 6, 2023 by 86 Hair Islands

[NottsRam77]

18 minutes ago, NottsRam77 said:

See my reply to dave

This probably explains it better too 

 

[NottsRam77]

25 minutes ago, 86 Hair Islands said:

Seen it but don't agree with the blanket dismissal of altcoins as outright scams. In fact I'd say that was plain nonsense. Plenty of valid blockchain ecosystems are being built which will have a tangible value as uptake increases. You've tarred every coin with the same brush, which is the polar opposite of what you were saying even 12 months back. Sure, there are many that are questionable, but to dismiss all of them the way you have is neither helpful, nor accurate and I say this as someone who is holding Bitcoin. By your way of thinking, the projected outcome is that the only future currency will be Bitcoin and I'm afraid that's utter nonsense.

 its not and its not nonsense

all altcoins bar litecoin, that was a fork of btc are centrally controlled … fact

Be it by an individual, a group of or a company.

they are controlled by someone of something that can shut them down, freeze it, switch it off or run off with your money.

now where u are correct is that there are some genuine ones that have phenominal technology behind them and could serve a great purpose in many things in the future.

what its doesnt do though is change the fact that they are not bitcoin and can be controlled.

If u or anyone else wants to stick some money into one then hell yer there could be lots of money to be made as been done before. But iv been in the space long enough 2015 to have seen too many of” the next big thing” go to s***.

watch the video.. he aint talking about bitcoin, woth good reason. It isnt under threat 

[NottsRam77]

35 minutes ago, 86 Hair Islands said:

Seen it but don't agree with the blanket dismissal of altcoins as outright scams. In fact I'd say that was plain nonsense. Plenty of valid blockchain ecosystems are being built which will have a tangible value as uptake increases. You've tarred every coin with the same brush, which is the polar opposite of what you were saying even 12 months back. Sure, there are many that are questionable, but to dismiss all of them the way you have is neither helpful, nor accurate and I say this as someone who is holding Bitcoin. By your way of thinking, the projected outcome is that the only future currency will be Bitcoin and I'm afraid that's utter nonsense.

Compare on the chart any coin u like against bitcoin see what the results are

they all trend to nothing against it bar .. ethereum that has its weird correlation with btc .. for now .. the hard fork may change that

[NottsRam77]

38 minutes ago, 86 Hair Islands said:

Seen it but don't agree with the blanket dismissal of altcoins as outright scams. In fact I'd say that was plain nonsense. Plenty of valid blockchain ecosystems are being built which will have a tangible value as uptake increases. You've tarred every coin with the same brush, which is the polar opposite of what you were saying even 12 months back. Sure, there are many that are questionable, but to dismiss all of them the way you have is neither helpful, nor accurate and I say this as someone who is holding Bitcoin. By your way of thinking, the projected outcome is that the only future currency will be Bitcoin and I'm afraid that's utter nonsense.

Time will tell… im confident

btc has already seen off plenty of “next big things” 

[Comrade 86]

6 minutes ago, NottsRam77 said:

 its not and its not nonsense

all altcoins bar litecoin, that was a fork of btc are centrally controlled … fact

Be it by an individual, a group of or a company.

they are controlled by someone of something that can shut them down, freeze it, switch it off or run off with your money.

now where u are correct is that there are some genuine ones that have phenominal technology behind them and could serve a great purpose in many things in the future.

what its doesnt do though is change the fact that they are not bitcoin and can be controlled.

If u or anyone else wants to stick some money into one then hell yer there could be lots of money to be made as been done before. But iv been in the space long enough 2015 to have seen too many of” the next big thing” go to s***.

watch the video.. he aint talking about bitcoin, woth good reason. It isnt under threat 

Thanks for the Bitcoin tip, but I've not argued against Bitcoin have I? 

42 minutes ago, 86 Hair Islands said:

I say this as someone who is holding Bitcoin

🙉

[Tamworthram]

4 hours ago, NottsRam77 said:

Haha i knew this would come up and its 

really bad news for cryto but f****** brilliant for bitcoin.

as i have said previously, anything that isnt bitcoin is a centrally controlled scam and needs to be scrutinised 
 

to summerise.

the SEC are cracking down on what they deem are unregistered securties and anyone that sells them. 
 

proof of stake coins/ tokens (any shitcoin) are just this and they all fail the howey test ( the test the sec use to determine what is and what isnt a security) 

They are also suing binance for the same thing. They are prosecuting the sale of all the s*** ada, solana, pokeadot, xrp, solana, dodge, etc etc as they are unregistered securities

only Btc is truly safe and ethereum (although thats controversial) is also  excempt from This list. 

so in summary,

Brilliant news for bitcoin, let the sec do their job, wash out all the s*** and let bitcoin fly.

this is in itself and admission from the highest of the highest of governing bodies that bitcoin is real and going nowhere 

bring on 2024/25

*mic drop, walks off stage lol

I think I understand what you are saying and Bitcoin is the gold standard for crypto but don’t stories like this just add to the scepticism amongst the general public and suggest that, whilst Bitcoin maybe “real and going nowhere”, it’s a long way off from being widely trusted and accepted?

[NottsRam77]

36 minutes ago, Tamworthram said:

I think I understand what you are saying and Bitcoin is the gold standard for crypto but don’t stories like this just add to the scepticism amongst the general public and suggest that, whilst Bitcoin maybe “real and going nowhere”, it’s a long way off from being widely trusted and accepted?

Maybe, yes, no , not sure

to the average jo then yes because they automatically.. and tbf rightly class bitcoin as a cryptocurrency (that crypto)

but bitcoin isnt like any of the others. 
 

@86 Hair Islands makes the point that im writing all the others off, and i am… cos i dont trust someone that has no face, no head quarters or help desk and responsibility to look after my money. 

however i can promise u that i have done things on the likes of ethereum, celo , ada and cardano.. yes all the s*** coins i speak of that simply would blow ur mind, cos it blew mine and opened my eyes up to the world of DEFi… de centralised finance that exisists in the crypto space

iv dabbled extensively with it. 
 

crossed chains, set up nodes, ran vaults 

iv earned up 24% apy on US dollars, 8% on btc, 8% on pounds sterling. 24% on euros

this is the power and the magic that these altcoins can bring.

however , i dabbled, made a little bu then got scared as i learned more and more about the risks involved and who actually holds ur money.

so i feel actually im in a pretty solid place to talk about altcoins having spent a lot of time and energy learning snd using them

imo for security and minimal risk long term all roads lead to bitcoin. But thats just me anyone is free to have their own opinion

[Tamworthram]

9 hours ago, NottsRam77 said:

Maybe, yes, no , not sure

to the average jo then yes because they automatically.. and tbf rightly class bitcoin as a cryptocurrency (that crypto)

but bitcoin isnt like any of the others. 
 

@86 Hair Islands makes the point that im writing all the others off, and i am… cos i dont trust someone that has no face, no head quarters or help desk and responsibility to look after my money. 

however i can promise u that i have done things on the likes of ethereum, celo , ada and cardano.. yes all the s*** coins i speak of that simply would blow ur mind, cos it blew mine and opened my eyes up to the world of DEFi… de centralised finance that exisists in the crypto space

iv dabbled extensively with it. 
 

crossed chains, set up nodes, ran vaults 

iv earned up 24% apy on US dollars, 8% on btc, 8% on pounds sterling. 24% on euros

this is the power and the magic that these altcoins can bring.

however , i dabbled, made a little bu then got scared as i learned more and more about the risks involved and who actually holds ur money.

so i feel actually im in a pretty solid place to talk about altcoins having spent a lot of time and energy learning snd using them

imo for security and minimal risk long term all roads lead to bitcoin. But thats just me anyone is free to have their own opinion

I’m not doubting your experience or ability to talk with some authority on the subject but you are one voice in a crowd. My point was that the vast majority of the worlds population have very limited knowledge or understanding of crypto currencies. Therefore, no doubt unfairly, all crypto currencies will be tarnished by such stories and it will take a very long time before any become widely trusted  and acceptable. Surely this is the hope for most Bitcoin advocates like yourself. Consequently, I don’t see how this story can really be “brilliant for bitcoin”. Lack of understanding is a massive barrier for most people. When you add suspicion it becomes almost insurmountable. Sorry, but using phrases like “this is the power and magic ……” only adds to the image of alchemy in my opinion.

[NottsRam77]

2 hours ago, Tamworthram said:

I’m not doubting your experience or ability to talk with some authority on the subject but you are one voice in a crowd. My point was that the vast majority of the worlds population have very limited knowledge or understanding of crypto currencies. Therefore, no doubt unfairly, all crypto currencies will be tarnished by such stories and it will take a very long time before any become widely trusted  and acceptable. Surely this is the hope for most Bitcoin advocates like yourself. Consequently, I don’t see how this story can really be “brilliant for bitcoin”. Lack of understanding is a massive barrier for most people. When you add suspicion it becomes almost insurmountable. Sorry, but using phrases like “this is the power and magic ……” only adds to the image of alchemy in my opinion.

Oh god yes agree completely, im just one voice

And yes poor choice of wording 

wont lie though to get that sort of returns on my money was pretty epic… had to jump through plenty of hoops to do it mind .

although there are easier versions of doing this to earn decent returns in cefi (centralised finance) in the crypto space

i do find it liberating that some of these altcoins allow u to play as the bank, u do what they do with your money now. 
 

u lend it to treasuries, liquidity pools, trading platforms and its u that get the profits not the bank.. pretty neat

but it comes at a risk that im more aware of than i was before so i dont do it

but am keeping my eyes on it as it developes

Edited June 7, 2023 by NottsRam77

[NottsRam77]

2 hours ago, Tamworthram said:

I’m not doubting your experience or ability to talk with some authority on the subject but you are one voice in a crowd. My point was that the vast majority of the worlds population have very limited knowledge or understanding of crypto currencies. Therefore, no doubt unfairly, all crypto currencies will be tarnished by such stories and it will take a very long time before any become widely trusted  and acceptable. Surely this is the hope for most Bitcoin advocates like yourself. Consequently, I don’t see how this story can really be “brilliant for bitcoin”. Lack of understanding is a massive barrier for most people. When you add suspicion it becomes almost insurmountable. Sorry, but using phrases like “this is the power and magic ……” only adds to the image of alchemy in my opinion.

To answer your question .. hows this brilliant for bitcoin.

In v lemans terms. i could go into more detail but im not typing all out but more than happy to casually chat about it on the phone with anyone
 

there are 1000s of crypto altcoins… and literally about a handful potentially actually serve a purpose.

the others are tokens and coins created by a founder that launch to a select few early participants, they then get youtubers and content creators to talk about them to pump their price then they dump onto retail (average jos) who buy it as “theyve been told” this is the next big thing. 
 

the intial investors walk away having made a fortune and jo public are left holding a bag of magic beans worth nothing. The tokens will be advertised as perhaps offering a high percentage return .. which is great .. so ur earning more tokens per day.. so ur printing money.. accept ur not. Because as they print more and more and the number of tokens inflates the price goes to zero. 
 

losing these scam tokens from the crypto space cant come quick enough as with every sucker that gets screwed over its more negative press for the crypto space and bitcoin.

its not going to happen over night but the crypto space has to clean up its act in this respect so regulation and crackdown on coins that are unregistered securities is good for bitcoin.

as they are all centrally controlled and need regualting accordingly for jo public's potection

only btc and eth are exempt from this as they are decentralised and not controlled by anyone …(theres a caveat with eth) 

and thats the short version 😂😂

[Tamworthram]

41 minutes ago, NottsRam77 said:

To answer your question .. hows this brilliant for bitcoin.

In v lemans terms. i could go into more detail but im not typing all out but more than happy to casually chat about it on the phone with anyone
 

there are 1000s of crypto altcoins… and literally about a handful potentially actually serve a purpose.

the others are tokens and coins created by a founder that launch to a select few early participants, they then get youtubers and content creators to talk about them to pump their price then they dump onto retail (average jos) who buy it as “theyve been told” this is the next big thing. 
 

the intial investors walk away having made a fortune and jo public are left holding a bag of magic beans worth nothing. The tokens will be advertised as perhaps offering a high percentage return .. which is great .. so ur earning more tokens per day.. so ur printing money.. accept ur not. Because as they print more and more and the number of tokens inflates the price goes to zero. 
 

losing these scam tokens from the crypto space cant come quick enough as with every sucker that gets screwed over its more negative press for the crypto space and bitcoin.

its not going to happen over night but the crypto space has to clean up its act in this respect so regulation and crackdown on coins that are unregistered securities is good for bitcoin.

as they are all centrally controlled and need regualting accordingly for jo public's potection

only btc and eth are exempt from this as they are decentralised and not controlled by anyone …(theres a caveat with eth) 

and thats the short version 😂😂

I get how removing the scammers etc. from the market is a good thing for the more reputable currencies but my point is that stories like this are likely to tarnish the whole market as those of us (the overwhelming majority IMO) that don't really understand it are quite likely to tar all cryptos with the same brush. We will therefore take some serious convincing before we'll embrace it which, surely can't be a brilliant thing for bitcoin other than in the very long term. Being decentralised and not controlled by anyone doesn't really give any comfort of its safety to the vast majority of the world's population that are ignorant of how it all works.