Crypto Crash

[EdLawndale]

All I'll say is that the guy at my local bar who claims to have made a boatload of money on crypto-currency and who always wants to pull me aside to give him 15 minutes and 50 bucks so he can show me how to earn? Him? Well, he got 86'd from the bar recently for not paying a $100 tab and for "foraging" of of other customers' discarded food plates...

[thebacker]

i played counter strike with a dude who cashed out most of his bitcoins and apparently reinvested a bunch into resturants and counter strike skins (which hold their value surprisingly well).

He also had an extensive collection in hentai games so take that as you will

[Abyss1]

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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.

[close]

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.

[close]

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!

[close]

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.

I work in sustainability/clean energy in silicon valley, did energy consulting for PGE, and its not nuanced. 

The way we use energy as a whole has been heavily regulated...Im sure you've seen the energy star sticker on computers.  Where are we wasting as much energy as bit coin mining and how is using 150,000 kwh/ month energy efficient. 

[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.

[IUTSM]

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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.

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

[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. 

[IUTSM]

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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. 

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

[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

[IUTSM]

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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

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...

[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.

[close]

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.

[close]

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!

[close]

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]

[IUTSM]

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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

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

[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???

[IUTSM]

...canned brown bread???

https://newengland.com/today/food/new-england-made/bm-brown-bread-in-a-can/

[rukes]

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

[IUTSM]

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

heat it up by the slice in a microwave or toaster oven, thrown on a piece of buttah and it's good. molasses is the shit

[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)

[IUTSM]

Did we talk coffee milk yet or no?

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

[Jagr]

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

[close]

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

!!!!!

[Freelancevagrant]