Crypto Crash

[Fhk]

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Compelling arguments from all sides of the SLAP table.  However, I’d like to hear what the guns and baked beans bunker guy thinks before drawing any conclusions.

[close]

Those are the most hilarious crypto people. "Fill a freezer full of meat, a basement full of canned goods, stock up on ammo and most importantly make sure you convert fiat currency to a currency which ceases to exist once the power goes out!"

[close]

actually, i'm sure precious is referring to me, and with family--both old and young--to worry about in these especially precarious times, all i can think to say, is who the fuck has money to gamble with right now?

and @Coastal Fever, kisses to you

I'm very proud of my stockpile of baked beans and guns.

[Fhk]

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Compelling arguments from all sides of the SLAP table.  However, I’d like to hear what the guns and baked beans bunker guy thinks before drawing any conclusions.

[close]

Those are the most hilarious crypto people. "Fill a freezer full of meat, a basement full of canned goods, stock up on ammo and most importantly make sure you convert fiat currency to a currency which ceases to exist once the power goes out!"

[close]

actually, i'm sure precious is referring to me, and with family--both old and young--to worry about in these especially precarious times, all i can think to say, is who the fuck has money to gamble with right now?

and @Coastal Fever, kisses to you

[close]

I'm very proud of my stockpile of baked beans and guns.

[close]

you got the B&M brown bread in a can too? can't go without that and a slab of buttah

Haha damn right..every Saturday night in my house growing up! I actually have a shelf full in my storage. 

[Fhk]

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Compelling arguments from all sides of the SLAP table.  However, I’d like to hear what the guns and baked beans bunker guy thinks before drawing any conclusions.

[close]

Those are the most hilarious crypto people. "Fill a freezer full of meat, a basement full of canned goods, stock up on ammo and most importantly make sure you convert fiat currency to a currency which ceases to exist once the power goes out!"

[close]

actually, i'm sure precious is referring to me, and with family--both old and young--to worry about in these especially precarious times, all i can think to say, is who the fuck has money to gamble with right now?

and @Coastal Fever, kisses to you

[close]

I'm very proud of my stockpile of baked beans and guns.

[close]

you got the B&M brown bread in a can too? can't go without that and a slab of buttah

[close]

Haha damn right..every Saturday night in my house growing up! I actually have a shelf full in my storage. 

[close]

I'm pretty sure people only eat that shit where we came from. I don't wanna eat it every day, but it tastes so fucking good every now and again. warm with buttah

Sounds real good tbh. I haven't had it since I was a kid, but I'm gonna have to break out a can this Saturday night. Show these little Mainahs how the 508 throws down

[Fhk]

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Compelling arguments from all sides of the SLAP table.  However, I’d like to hear what the guns and baked beans bunker guy thinks before drawing any conclusions.

[close]

Those are the most hilarious crypto people. "Fill a freezer full of meat, a basement full of canned goods, stock up on ammo and most importantly make sure you convert fiat currency to a currency which ceases to exist once the power goes out!"

[close]

actually, i'm sure precious is referring to me, and with family--both old and young--to worry about in these especially precarious times, all i can think to say, is who the fuck has money to gamble with right now?

and @Coastal Fever, kisses to you

[close]

I'm very proud of my stockpile of baked beans and guns.

[close]

you got the B&M brown bread in a can too? can't go without that and a slab of buttah

[close]

Haha damn right..every Saturday night in my house growing up! I actually have a shelf full in my storage. 

[close]

I'm pretty sure people only eat that shit where we came from. I don't wanna eat it every day, but it tastes so fucking good every now and again. warm with buttah

[close]

Sounds real good tbh. I haven't had it since I was a kid, but I'm gonna have to break out a can this Saturday night. Show these little Mainahs how the 508 throws down

[close]

my Mémère used to boil franks, a pot of baked beans, and a can of brown bread every Sunday... from the time my dad was a kid til I was a kid...

I love it man...And it was also Sunday in my house..Saturdays was spaghetti and homemade garlic bread (out of white bread) of course

[h00man]

Remember all your friends, pro skaters, family members getting their IG's hacked because "someone messaged me that I can turn $10 into $1000 in 10 minutes".

Isnt this the same kinda shit? Except without giving them access to your account?

[DaleSr]

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Gotta say, opening statement of "98% of this thing i support is a scam, but hear me out on the other 2%" is a bold strategy.

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Again, this just shows what incredible ignorance you have. You're lumping "crypto" as this one thing that you're all in on or not and if something is somehow connected to "crypto," it's automatically a scam. Imagine using that lens as your worldview. You sound like a person who'd sit down to a conversation with someone who shared a different perspective and just really hear them out. 

[close]

Like it or not crypto is now a big catch all term for everything from nfts to monero. All of these supposed benefits that you claim have not come true. Liberation has not come from dogecoin being accepted as currency in el Salvador or Nigeria. The market value for a lot of these currencies fluctuates wildly, it's not a good omen for the viability of your model if you have a black Friday style crash every three to four years. You're mad at me because you've sunk money into this project and now there are stakes for you. You have a vested interest in not looking like a fool for putting your money in this, and no matter what i say, you will continue to defend it because you don't want to lose that money. So you continue to say it will overthrow banking and provide a new paradigm shift in the way the financial world operates. Which is laughable.

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Odd you keep just making more assuming statements without those ever being said. Maybe read more of people's comments before making broad, sweeping assumptions in your head. I'm 75% invested in BTC and the rest in other projects I think have real utility and future promise. No NFT's or any meme coins. And never once said I think BTC will overthrow banking and provide a new paradigm. There's people who think that, but I don't agree with it. And I started buying when BTC was $12k and I'll continue to happily dollar cost average in longterm. Keep up the good fight Dale!

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I'm genuinely interested in blockchain technologies with real-world utility which isn't a libertarian wetdream. Can you please explain what you see as promising, and how it will be beneficial to the common working-class person? Also, how do you justify the energy consumption and GPU time which could go to research for curing diseases: https://foldingathome.org/start-folding/?lng=en-US (Which is what I do, and if you have a halfway decent GPU, please do the same)

Signed,
Curious no-coiner

[close]

I went back and forth with the TheLurper a while back, so I don't have the energy to type it out again, but here's the page on the thread where we discussed some thoughts. It goes onto page 11 too.

https://www.slapmagazine.com/index.php?topic=110245.270

Some of my thoughts I'd slightly alter now a little bit, but I enjoyed different viewpoints. I don't see any value in debating someone like Dale because it's quite apparent his view won't change no matter what.

And the energy debate is very nuanced. If you think BTC has no value, then any amount of energy is a waste. If you think it has value like I do, then debating how the energy is used is useful. Hopefully in the same way you might criticize energy use of Bitcoin you'd do the same to any other system and their use of energy. As a whole I think BTC mining can do better, but is constantly moving towards more renewables and capturing energy that would've been wasted anyways. There's tons of great debates on the efficiency of mining, which I'd be happy to share if you'd like.

But as a whole, I'd say the value I see overall to BTC is in response to our current debt cycle spiral and monetary systems owned by governments/central banking. I think we're handcuffed in terms of not being to find anyway of getting out of inflation long term and money printing will continue and increasing rates, further debasing the dollar. Our purchasing power will continue to decrease and that will affect mainly the poor and middle class.

If you're interested in people who have some good insight on debt cycles, I really like Greg Foss and Jeff Booth. Also Alex Gladstein does great work with the Human Right Foundation and why he believes Bitcoin can and is helping those in authoritarian-led countries.

I think people forget that BTC is still a new technology and isn't ideal as monetary policy in the current state. I don't think having El Salvador adopt it as legal tender really is some amazing leap forward since many people just want something more stable in the time being. But as time goes on, I just see the value of a growing decentralized monetary system where miners are constantly adding more and more security to the network and there's a fixed supply.

I honestly don't mind when people don't like BTC or have concerns, but I think those that criticize it with a lack of understanding just add no value to any conversation.

And I'm in the same boat on the libertarian wet dream. I'm not in the camp of thinking the world will be come this anarcho capitalistic world of self-sovereignty and Bitcoin citadels. But I do agree there is a way BTC can almost be a check and balance system to our current financial world that's increasingly worrying to me.

If you're curious on what initially made me interested in BTC and the history of money and our current monetary policy, shoot me a message and I can share some stuff that was super informative.

[Freelancevagrant]

Glad to know that we, the Jews aren’t being blamed for this yet…

[Freelancevagrant]

Sorry didn’t mean to interrupt the conversation. Please continue your discussion about your techno tokens or whatever.

[os89]

[Fhk]

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Compelling arguments from all sides of the SLAP table.  However, I’d like to hear what the guns and baked beans bunker guy thinks before drawing any conclusions.

[close]

Those are the most hilarious crypto people. "Fill a freezer full of meat, a basement full of canned goods, stock up on ammo and most importantly make sure you convert fiat currency to a currency which ceases to exist once the power goes out!"

[close]

actually, i'm sure precious is referring to me, and with family--both old and young--to worry about in these especially precarious times, all i can think to say, is who the fuck has money to gamble with right now?

and @Coastal Fever, kisses to you

[close]

I'm very proud of my stockpile of baked beans and guns.

[close]

you got the B&M brown bread in a can too? can't go without that and a slab of buttah

[close]

Haha damn right..every Saturday night in my house growing up! I actually have a shelf full in my storage. 

[close]

I'm pretty sure people only eat that shit where we came from. I don't wanna eat it every day, but it tastes so fucking good every now and again. warm with buttah

[close]

Sounds real good tbh. I haven't had it since I was a kid, but I'm gonna have to break out a can this Saturday night. Show these little Mainahs how the 508 throws down

[close]

my Mémère used to boil franks, a pot of baked beans, and a can of brown bread every Sunday... from the time my dad was a kid til I was a kid...

[close]

I love it man...And it was also Sunday in my house..Saturdays was spaghetti and homemade garlic bread (out of white bread) of course

[close]

white bread with butter and garlic powder (sometimes crushed garlic from a jar)

Yesssah the only way to do it!

[rawr1922]

[Garth Marenghi]

I was talking to a former weed dealer one day last summer and he was telling me about stocks and investments. Basically he was explaining the GameStop debacle to me, it was mostly over my head and I thought to myself 'Damn this dude is smart', then a few minutes later he asks me 'You fuck with Crypto at all?' and I thought 'Damn this dude is dumb'. I can barely afford a $30 bag of weed from you once a week, I'm not into throwing money away bro

Yeah, but there's a 2 percent chance that you won't!

[Abyss1]

I was talking to a former weed dealer one day last summer and he was telling me about stocks and investments. Basically he was explaining the GameStop debacle to me, it was mostly over my head and I thought to myself 'Damn this dude is smart', then a few minutes later he asks me 'You fuck with Crypto at all?' and I thought 'Damn this dude is dumb'. I can barely afford a $30 bag of weed from you once a week, I'm not into throwing money away bro

whats fucked up is financial literacy isn't complicated.  The gamestop shit is pretty simple, a bunch of people (bankers) bet money that a company (Gamestop) would fail.  A bunch of reddit users put together a thread and bought a shit load of the company shares.  This raised the company's value (even though its not really worth that much) and forced the bankers who bet that the company would tank to pay pretty much all of their money.     

It's like if a bunch of Nike sb execs bet that Emerica would go under.   So a bunch of people on slap got together and bought a shitload of Emerica stocks and Nike ended having to pay soo much money on the loss that they end up closing their sb division.  Probably worth noting that the slap users who bought the emerica stock probably never skated a day in those shoes.

I actually know a lot of weed heads who are into crypto since its one of the few methods of accepted currency for buyers and sellers. 

[Shifty Flip]

Need a FOS egg NFT in my life right now, but the gas fees are killing

Patiently waiting for sundaeswap DEX to get sorted out so they can announce the DripDrop/Steve Cab project. 

[doyle]

...canned brown bread???

[rukes]

I was sceptical, but damn that bread in a can looks delicious.

[Freelancevagrant]

Did we talk coffee milk yet or no?

[Beeker]

Wow who could have forseen a completely stupid, wasteful, made up currency would completely tank and explode??
What will incels use to buy drugs and nonce materials now?? Discuss why we all should hold through the dip here crypto dummies.

Pretty hilarious that people are calling this "tanking" to be honest, it's literally still in the bubble. ETH was $200, what like less than 2 years ago?

It'll crash for real (10K or less) at some point, then it'll come up, then crash, then come up, etc.

No idea what it'll do short term.

Remember to zoom out

If you are long term don't fret, if you need the money I'd be sweatin'.

(haven't read entire thread)

[Jagr]

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if you held short positions then you would have made money yesterday, just had to be paying attention

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Ah, so I take it you made enough money yesterday to finally buy those skeleton key shirts?

!!!!!

[Freelancevagrant]

[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

[IusedToSkateMore]

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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]

[IusedToSkateMore]

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.