Crypto Crash

[Abyss1]

New Podcast show from Matt Binder from majority report, there are post podcast call ins on his channel which had crypto and NFT people call in to debate

[Sativa Lung]

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Did we talk coffee milk yet or no?

[close]

Autocrat coffee milk syrup (Providence), fluffanuttahs (look up that marshmallow fluff from Lynn), chow mien sandwiches (hoo-mee chow mien from Fall River), Cape Cod chips, necco mothafuhkin waaayfahs, joonyah mint, sugah daddies, Charleston chews...  let's not forget the OG cranberry growers collective (now owned by Pepsi) Ocean Spray (lakeville/middleboro)

sugary processed shit with some serious staying powah coming outta the bay state and lil rhody

I was stationed with a chick from RI who turned me on to autocrat. I haven't seen it around here for a while (although I haven't looked that hard either) but the mere mention of it has me craving some.

Also I apparently need to become a dentist in Boston.

[skateboardnorth]

I don't know shit about NFTs other than hearing about it on a few podcasts.  I am wondering to myself if I'm going to be like that old out of touch guy in 1995 that didn't believe in the internet. Kids these days seem to not mind buying shit like custom skins in video games, or buying Roblox currency, so they can show off their riches in the game.  I also heard that NFTs have more uses than just digital artwork.  I heard something about concert tickets possibly being an NFT, and that's how they verify if it's real.  Anyways, that's my out of touch rant.  I have no real point, I'm just an old ramblin man.  I think this crypto shit will have some use in our future, but it's not going to be what the crypto bros claim it is.

[cky enthusiast]

bro what future

[IUTSM]

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Did we talk coffee milk yet or no?

[close]

Autocrat coffee milk syrup (Providence), fluffanuttahs (look up that marshmallow fluff from Lynn), chow mien sandwiches (hoo-mee chow mien from Fall River), Cape Cod chips, necco mothafuhkin waaayfahs, joonyah mint, sugah daddies, Charleston chews...  let's not forget the OG cranberry growers collective (now owned by Pepsi) Ocean Spray (lakeville/middleboro)

sugary processed shit with some serious staying powah coming outta the bay state and lil rhody

[close]

I was stationed with a chick from RI who turned me on to autocrat. I haven't seen it around here for a while (although I haven't looked that hard either) but the mere mention of it has me craving some.

Also I apparently need to become a dentist in Boston.

I never really liked the coffee milk. I was more into strawberry syrup. I saw banana flavored milk in a glass bottle the other day. naaaaaasty

and yeah, man, dentist make the bank. no need for crypto when you're pulling teeth and shit like that. I know a dude who is a dentist and a degenerate gambler. John the Dentist is what they call him. Dude is weird as fuck. I was hanging out with an old buddy who plays these high stakes card games with the dentist a few years back and his buddy John the Dentist comes over. My buddy, a late 40s now clean from smack dude who got me into skating and the dead as a kid, myself, and the dentist sitting in a jeep, hotboxing en route to a show and I was just thinking "Jesus. this is one of the most unusual groups of people I've sat in." but yeah, when you're dentist rich you can be as weird as want. 

[DaleSr]

I don't know shit about NFTs other than hearing about it on a few podcasts.  I am wondering to myself if I'm going to be like that old out of touch guy in 1995 that didn't believe in the internet. Kids these days seem to not mind buying shit like custom skins in video games, or buying Roblox currency, so they can show off their riches in the game.  I also heard that NFTs have more uses than just digital artwork.  I heard something about concert tickets possibly being an NFT, and that's how they verify if it's real.  Anyways, that's my out of touch rant.  I have no real point, I'm just an old ramblin man.  I think this crypto shit will have some use in our future, but it's not going to be what the crypto bros claim it is.

A custom skin retains its value about as well as an nft

[Abyss1]

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I don't know shit about NFTs other than hearing about it on a few podcasts.  I am wondering to myself if I'm going to be like that old out of touch guy in 1995 that didn't believe in the internet. Kids these days seem to not mind buying shit like custom skins in video games, or buying Roblox currency, so they can show off their riches in the game.  I also heard that NFTs have more uses than just digital artwork.  I heard something about concert tickets possibly being an NFT, and that's how they verify if it's real.  Anyways, that's my out of touch rant.  I have no real point, I'm just an old ramblin man.  I think this crypto shit will have some use in our future, but it's not going to be what the crypto bros claim it is.

[close]

A custom skin retains its value about as well as an nft

In game currency is different because you cant exchange the tokens made in roblox for some Japanese yen.   Given popularity of games like this and GTA5 it makes sense to have people buy trinkets or anything that keeps people playing.   Id be cool if you cool sell profiles that are made in those games IMO

[Abyss1]

[IUTSM]

The whole crypto currency sphere was only ever about cleaning $$ until the past few yrs. Centralization and ties to govt and fiat currency negates and desired or practical value or privacy. Having watched this since 2011, BTC anyways will go back up, but will again crash. Ain't no good unless you're a billionaire or bought it during the SR1 days afaic.

[LesbianPUNCH]

Due to my job as a bartender at a cocktail bar I bump elbows with a lot of fucking randoms. As a result I have a lot of friends in tech, working with ai, in the financial sector, with SpaceX, etc. Some of them are sensible and optimistic. Some of them are deluded and insufferable Bitcoin maxi’s with no personality. But one of these dudes is my favorite. He dresses like a mystical crazy person, is obsessed with Dune and refers to himself as a spice lord, he’s ALWAYS on 5+ grams of mushrooms, and his view of the world is incredible and insane. Very much wrapped up in one-world government conspiracies. I’d normally write someone like this off as someone I’d turn away if they tried to come into my bar, but he keeps popping in at work looking like the FBI is after him, giving me incredible financial advice, and ghosting immediately. Last year he helped me set up a Coinbase account and gifted me $666 worth of ETH to fuck around with. One day he popped in, looked around nervously, and was like “put every penny you have in QNT right now. You’re gonna sell it in about a month. I just put $60,000 in. Sell in September. Sell everything.” So I humored him and put a couple hundred in. And a few weeks later that shit skyrocketed from $80 to almost $500. And a week after that he invited me to a house party at a new house that he bought with cash.

Not sure what the moral of the story is here. My luck is shit and I don’t see my spice lord very often anymore. I’ll be the last one hodling on. Crypto is a rollercoaster and throwing a little coin at it here and there has kind of freed me from giving a fuck about money altogether. I was up $16,000 in the fall, I’m down almost $4,000 right now. If it all went away tomorrow I’d be fine. Kind of makes the shitty tip days at work inconsequential.

[Freelancevagrant]

My man sounds like your friend got busted for insider trading…

Might wanna focus that self incriminating post.

But at the end of the day, crypto is dumb.

[Abyss1]

The whole crypto currency sphere was only ever about cleaning $$ until the past few yrs. Centralization and ties to govt and fiat currency negates and desired or practical value or privacy. Having watched this since 2011, BTC anyways will go back up, but will again crash. Ain't no good unless you're a billionaire or bought it during the SR1 days afaic.

Yea it reminds me of those early local skatepark heroes that kept saying, I'm gonna be pro one day,  they never do, and end up that old dude at the park still preaching to kids that they could make it only if the industry wasnt rigged (or insert something libertarian)

[Sativa Lung]

The whole crypto currency sphere was only ever about cleaning $$ until the past few yrs. Centralization and ties to govt and fiat currency negates and desired or practical value or privacy. Having watched this since 2011, BTC anyways will go back up, but will again crash. Ain't no good unless you're a billionaire or bought it during the SR1 days afaic.

Here's my SR1 btc story. Back in 2011 I was both a nerd and a junkie, so I used it to have dope delivered when I was out of town for work and away from my connections. Fast forward a year and I'd lost that job and was very strung out. I had a hardware wallet with between 7-9 btc left on it when I got kicked out of my place and started living in my car. Got dope sick one day, figured I didn't have much use for a gaming tower PC anymore and took it to the pawn shop. I had to fucking plead with the dude to give me $100 for it so I could get a second bundle.

No, the hard drive wasn't wiped. I went back and looked for it like 2 years later and it was obviously long gone. I always wondered if whoever bought it was smart enough to check the HD. If they were I sure hope they cashed out at 50k.

[IpathCats]

IDK how anyone with "cop puncher" in their name could hate on crypto. I thought you were very anti establishment yourself too? The opportunity for a decentralized financial system would literally crumble "the establishment" as we know it. There are plenty of scam cryptos, and there are plenty that present environmental concerns. But all of this L2 shit based on the ETH blockchain has MINIMAL environmental impact with the reward of ABSOLUTE FINANCIAL TRANSPARENCY. This would make all of the games and loopholes wealthy people abuse to print themselves money and steal from "the poors" infinitely harder.

I know all this shit seems ridiculous, and that's because it is right now. There's a lot of shit to weed through. However, the transparency blockchain provides would prevent the ruling class from continuing to play their money games in the dark, just know that.

[Abyss1]

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[close]

IDK how anyone with "cop puncher" in their name could hate on crypto. I thought you were very anti establishment yourself too? The opportunity for a decentralized financial system would literally crumble "the establishment" as we know it. There are plenty of scam cryptos, and there are plenty that present environmental concerns. But all of this L2 shit based on the ETH blockchain has MINIMAL environmental impact with the reward of ABSOLUTE FINANCIAL TRANSPARENCY. This would make all of the games and loopholes wealthy people abuse to print themselves money and steal from "the poors" infinitely harder.

I know all this shit seems ridiculous, and that's because it is right now. There's a lot of shit to weed through. However, the transparency blockchain provides would prevent the ruling class from continuing to play their money games in the dark, just know that.

I actually run a sustainability/ energy business...heres some dumbdata shit for you

each Bitcoin transaction consumes 1,173 kilowatt hours of electricity

if mining in california that costs (were I live - silicon valley) = $247 (EACH BITCOIN) or every time my SSD need to validate a bitcoin. Those are the non-peak prices, peak prices could spike as much as 350-400 depending on time of energy use.

+0.507 METRIC TONS of CO2 associated with that much energy  (I Hope you what happened to planet venus because of CO2)

Solar can only do about 10w/sqft of panels....I let you figure out how much PV you need to net out consumption

[Bunk Moreland]

He wasn’t talking about Bitcoin.

[Bunk Moreland]

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[close]

IDK how anyone with "cop puncher" in their name could hate on crypto. I thought you were very anti establishment yourself too? The opportunity for a decentralized financial system would literally crumble "the establishment" as we know it. There are plenty of scam cryptos, and there are plenty that present environmental concerns. But all of this L2 shit based on the ETH blockchain has MINIMAL environmental impact with the reward of ABSOLUTE FINANCIAL TRANSPARENCY. This would make all of the games and loopholes wealthy people abuse to print themselves money and steal from "the poors" infinitely harder.

I know all this shit seems ridiculous, and that's because it is right now. There's a lot of shit to weed through. However, the transparency blockchain provides would prevent the ruling class from continuing to play their money games in the dark, just know that.

So anti-establishment he’ll volunteer to impose American ideals on an unwilling nation, murder people, and be so proud of it tattoo it on his arm.

Nobody is punching anyone, bunch of half wit fake anarchists.

[sexualhelon]

If you'd invested in x sector (more than one) in the normal stock market, the "crash" right now would have been more than investing in "x" crypto. There's the obvious time frame involved as to when you'd initially invested until now.

People think of cryptocurrencies as like some sort of inverse to day/swing trading in the normal stock market. It's like they're really believing they'll just invest in the cheapest crypto and it will one day run up to 1 million per coin. Whereas in day trading, people tend to know there's the fundamentals but they completely ignore them because at least they know within day trading they're only going off momentum and getting in/out and a certain profit margin. Most people are playing the crypto lotto so most of them are obviously going to lose.

[IUTSM]

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[close]

IDK how anyone with "cop puncher" in their name could hate on crypto. I thought you were very anti establishment yourself too? The opportunity for a decentralized financial system would literally crumble "the establishment" as we know it. There are plenty of scam cryptos, and there are plenty that present environmental concerns. But all of this L2 shit based on the ETH blockchain has MINIMAL environmental impact with the reward of ABSOLUTE FINANCIAL TRANSPARENCY. This would make all of the games and loopholes wealthy people abuse to print themselves money and steal from "the poors" infinitely harder.

I know all this shit seems ridiculous, and that's because it is right now. There's a lot of shit to weed through. However, the transparency blockchain provides would prevent the ruling class from continuing to play their money games in the dark, just know that.

[close]

So anti-establishment he’ll volunteer to impose American ideals on an unwilling nation, murder people, and be so proud of it tattoo it on his arm.

Nobody is punching anyone, bunch of half wit fake anarchists.

what point are you trying to make? you're hating on a combat vet who is doing something different than when they were a Marine. @Freelancevagrant is quite open about his time in the Corp and also quite open about what they're doing now and why they're doing it.

Ever heard of Smedley Butler?

and with that, who the fuck, especially a social worker, goes around accusing combat vets of volunteering to "murder people." Suicide awareness, anyone? Some egregious shit, bro.

[Freelancevagrant]

Yo Bunk, why don’t you @ me next time you fucking coward? Still trying to figure out why you decided to come for me?

I wish you would just admit that you aren’t a social worker and are in fact a fucking pig. In the incredibly unlikely event that you are in fact a social worker, you clearly are terrible at your job. Go back to licking boots and tightening your ventures you fucking bozo.

And to echo a fantastic question raised by my good pal @IusedToSkateMore

Do you know who Smedley Butler is?





To the topic at hand, crypto is a scam. I don’t think there is any chance of the ruling class relegating enough control of the banking system (before the entirety of global infrastructure collapses) for crypto to be anything more than exchanging futures in the same manner as Enron.

[IpathCats]

Yo Bunk, why don’t you @ me next time you fucking coward?

I wish you would just admit that you aren’t a social worker and are in fact a fucking pig. In the incredibly unlikely event that you are in fact a social worker, you clearly are terrible at your job.

To the topic at hand, crypto is a scam. I don’t think there is any chance of the ruling class relegating enough control of the banking system (before the entirety of global infrastructure collapses) for crypto to be anything more than exchanging futures in the same manner of Enron.

They're not just gonna hand over control of these things willingly, they will kick and scream the whole way, and try to bring the whole thing down, or at the very least try to rig the new system in their favor. The dismantling of the derivatives/futures market would be a
Huge step in the right direction though. Personally, I feel like transparency could lead to that. But who really knows.

[dilbert1]

I fuck w/ LR heavy and some Binder as well, would gnar if could

[G raham]

buy the dip

[Abyss1]

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[close]

I fuck w/ LR heavy and some Binder as well, would gnar if could

do you ever listen to this guy, he's got some gold material, plus i dig his intro beats

[thebacker]

Due to my job as a bartender at a cocktail bar I bump elbows with a lot of fucking randoms. As a result I have a lot of friends in tech, working with ai, in the financial sector, with SpaceX, etc. Some of them are sensible and optimistic. Some of them are deluded and insufferable Bitcoin maxi’s with no personality. But one of these dudes is my favorite. He dresses like a mystical crazy person, is obsessed with Dune and refers to himself as a spice lord, he’s ALWAYS on 5+ grams of mushrooms, and his view of the world is incredible and insane. Very much wrapped up in one-world government conspiracies. I’d normally write someone like this off as someone I’d turn away if they tried to come into my bar, but he keeps popping in at work looking like the FBI is after him, giving me incredible financial advice, and ghosting immediately. Last year he helped me set up a Coinbase account and gifted me $666 worth of ETH to fuck around with. One day he popped in, looked around nervously, and was like “put every penny you have in QNT right now. You’re gonna sell it in about a month. I just put $60,000 in. Sell in September. Sell everything.” So I humored him and put a couple hundred in. And a few weeks later that shit skyrocketed from $80 to almost $500. And a week after that he invited me to a house party at a new house that he bought with cash.

Not sure what the moral of the story is here. My luck is shit and I don’t see my spice lord very often anymore. I’ll be the last one hodling on. Crypto is a rollercoaster and throwing a little coin at it here and there has kind of freed me from giving a fuck about money altogether. I was up $16,000 in the fall, I’m down almost $4,000 right now. If it all went away tomorrow I’d be fine. Kind of makes the shitty tip days at work inconsequential.

hahahaha what the hell that guy is a legend

[Freelancevagrant]

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Yo Bunk, why don’t you @ me next time you fucking coward?

I wish you would just admit that you aren’t a social worker and are in fact a fucking pig. In the incredibly unlikely event that you are in fact a social worker, you clearly are terrible at your job.

To the topic at hand, crypto is a scam. I don’t think there is any chance of the ruling class relegating enough control of the banking system (before the entirety of global infrastructure collapses) for crypto to be anything more than exchanging futures in the same manner of Enron.

[close]

They're not just gonna hand over control of these things willingly, they will kick and scream the whole way, and try to bring the whole thing down, or at the very least try to rig the new system in their favor. The dismantling of the derivatives/futures market would be a
Huge step in the right direction though. Personally, I feel like transparency could lead to that. But who really knows.

They can afford to buyout who ever they want, so what ever chance they’re would be at seizing control of banking, it is gone the second they feel like focusing it.

Also there’s a pretty decent chance the US gov developed bitcoin seeing as they developed onion routing and created the deep web… where crypto was first developed…

But who knows…

[G raham]

Always found it funny how people can just casually dismiss  the entire concept of bitcoin despite how many economic and cryptographic geniuses are either working on it or call it one of the greatest inventions in the history of mankind. Agreed that crypto bros are douches tho so hating on would be pretty appealing

[IUTSM]

Always found it funny how people can just casually dismiss  the entire concept of bitcoin despite how many economic and cryptographic geniuses are either working on it or call it one of the greatest inventions in the history of mankind. Agreed that crypto bros are douches tho so hating on would be pretty appealing

The science of economics is a scam. An incredibly dominating scam that controls language and conversation, if one doesn't speak in the "language" of economics, they're shut out of conversation. Its a way for the wealthy to excuse their smash and grab road to power.

[Freelancevagrant]

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Always found it funny how people can just casually dismiss  the entire concept of bitcoin despite how many economic and cryptographic geniuses are either working on it or call it one of the greatest inventions in the history of mankind. Agreed that crypto bros are douches tho so hating on would be pretty appealing

[close]

The science of economics is a scam. An incredibly dominating scam that controls language and conversation, if one doesn't speak in the "language" of economics, they're shut out of conversation. Its a way for the wealthy to excuse their smash and grab road to power.

ONE MORE TIME FOR THE PEOPLE IN THE BACK.

[manysnakes]

Always found it funny how people can just casually dismiss  the entire concept of bitcoin despite how many economic and cryptographic geniuses are either working on it or call it one of the greatest inventions in the history of mankind. Agreed that crypto bros are douches tho so hating on would be pretty appealing

There are as many or more economists who correctly identify that it’s an unlicensed and unregulated security instrument and its value as a currency is not something which could ever be adopted widely. And anyway the “science” of economics is hokum and these same people are regularly excited about things like subprime mortgages and the World Bank.

Surely some type of hash-based “currency” is now going to be around as a value store for as long as we continue to use money - but the idea that bitcoin itself is going to revolutionize our daily lives, and destabilize global currency reserves and the powers behind them? Just not happening, certainly not here, with version 0.1 of this technology.