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June 29 2022 6.09pm

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View Ouzo Dan's Profile Ouzo Dan 23 May 21 6.36pm Send a Private Message to Ouzo Dan Add Ouzo Dan as a friend

Best explanation I have found as to why Cryptocurrency exists
[Link]

As for the dump meh, considerably bigger players than a minnow like me driving the price down so they can buy back in cheaper, Crypto has been like this since its inception.

Funnily enough I have returned to mining Crypto after a good 10 years off, found an old Dell Office PC in a dump, upgraded the power supply & added a Graphics card I got cheap, even at current prices I am on course to add a second graphics card in about 2 1/2 months then I'll add another and just keep going until I have a solid passive income.

I have some Crypto I'll hold onto but what I mine I dont really have any particular loyalty to so will mine whatever is the most profitable.


Edited by Ouzo Dan (23 May 2021 6.39pm)

 


Sex Panther 60% of the time it works every time

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View BlueJay's Profile BlueJay Flag UK 25 May 21 1.26pm Send a Private Message to BlueJay Add BlueJay as a friend

Crypto still seems to be somewhat tied to traditional markets for now though. As in if the economy tanks, Bitcoin will initially at least go with it. It's tricky to know what to do at a time like this. Of course if people are in it for the long-haul I don't suppose the here and now is so important.

 

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View Frickin Saweet's Profile Frickin Saweet Flag South Cronx 25 May 21 2.51pm Send a Private Message to Frickin Saweet Add Frickin Saweet as a friend

Originally posted by Tom-the-eagle

Several months of huge gains but now in free fall!

Are people holding or getting out?

I'm hodling. Crypto was always a longterm investment for me. No point sh1tting it now and selling when that was never the plan. That said I'm mainly in the mainstream coins rather than alt where is makes more sense to shift your investments around (don't have the time for that). What I AM doing, despite a lot of the attractively priced coins, is putting more of my money in lower risk investments outside of crypto incase it does all go tits up. That said I think in 2-3-year's time after another bull run this will look like no more than a blip.

 

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View Frickin Saweet's Profile Frickin Saweet Flag South Cronx 25 May 21 2.53pm Send a Private Message to Frickin Saweet Add Frickin Saweet as a friend

Originally posted by Ouzo Dan

Best explanation I have found as to why Cryptocurrency exists
[Link]

As for the dump meh, considerably bigger players than a minnow like me driving the price down so they can buy back in cheaper, Crypto has been like this since its inception.

Funnily enough I have returned to mining Crypto after a good 10 years off, found an old Dell Office PC in a dump, upgraded the power supply & added a Graphics card I got cheap, even at current prices I am on course to add a second graphics card in about 2 1/2 months then I'll add another and just keep going until I have a solid passive income.

I have some Crypto I'll hold onto but what I mine I dont really have any particular loyalty to so will mine whatever is the most profitable.


Edited by Ouzo Dan (23 May 2021 6.39pm)

out of interest, what cards are you planning to buy? I saw that NVIDIA are doing cards purely for mining now to stop miners taking cards away from gamers, although all are in short supply.

 

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View Ouzo Dan's Profile Ouzo Dan 25 May 21 9.42pm Send a Private Message to Ouzo Dan Add Ouzo Dan as a friend

Originally posted by Frickin Saweet

out of interest, what cards are you planning to buy? I saw that NVIDIA are doing cards purely for mining now to stop miners taking cards away from gamers, although all are in short supply.

Graphics Cards are as rare as rocking horse s*** at the moment even the 2nd hand market is a horror show, Its honestly better value to buy a prebuilt pc with the card you want & sell the parts rather than pay some scalper a kidney for the card you're after.

Started mining with a (2012) 3gb HD7970 which nets me about 50/60 cents a day after electricity & just bought a RX550 4gb which I am currently underclocking/overclocking to get the best performance but likely 50 cents a day (it will go live in the morning), a day may not sound much but that is 365 a year for doing nothing other than what I do on my PC already.

I've spent €50 on a power supply & €100 on a graphics card, once I have raised €100 I'll see what is available on the 2nd hand market but with Ethereum heading towards proof of stake as opposed to proof of work I suspect the 2nd hand GPU market will see the market flooded soon, I'll buy the best available for my budget and keep adding cards (gets easier with every card), obvious if the price falls out of its arse I simply switch my cards off until they are profitable again.

As for sheer ease of mining Crypto id recommend the RTX20XX series & using something like Nicehash.

The RTX30XX series are more profitable but Nvidia are pissing about with the drivers & AMD's offerings all need their bios Modded before they really compete with Nvidia.

Currently 24 (2 mining rigs if you know what you're doing) GTX3060's earn a minimum of £2029 a month which would be enough for me to never work again.

Edited by Ouzo Dan (26 May 2021 4.25pm)

 


Sex Panther 60% of the time it works every time

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View Ouzo Dan's Profile Ouzo Dan 25 May 21 10.00pm Send a Private Message to Ouzo Dan Add Ouzo Dan as a friend

If your looking to invest outside of Crypto id suggest [Link] another great way to make your money work for you if you cant buy a whole house and let it out yourself.

 


Sex Panther 60% of the time it works every time

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View SW19 CPFC's Profile SW19 CPFC Flag Addiscombe West 06 Apr 22 1.54pm Send a Private Message to SW19 CPFC Add SW19 CPFC as a friend

Absolutely brilliant takedown of the fantasy world of crypto and NFTs by Dan Olson.

Be warned, it's 2 hours long, but if you want a better understanding of how this murky world works told in an intelligent, well researched and eloquent way, this is for you.

Especially relevant with the increasing proliferation of fan tokens infecting sport, and unfortunately, Palace.

If your social media eroded attention span can't handle it the first 30 minutes is good enough to get the gist.

[Link]

Edited by SW19 CPFC (06 Apr 2022 1.55pm)

 


said the rabid giraffe whilst brandishing his throbbing member of reason, and twas ever thus.

Did you know? 95% of people are morons.

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View SW19 CPFC's Profile SW19 CPFC Flag Addiscombe West 06 Apr 22 2.04pm Send a Private Message to SW19 CPFC Add SW19 CPFC as a friend

"Some of the largest institutional holders of cryptocurrency are the exact same investment banks that created the subprime loan crash. This is a really important point to stress: cryptocurrency does nothing to address the problems with the banking industry, because those problems are patterns of human behaviour."

"They’re incentives, they’re social structures, they’re modalities. The problem is what people are doing to others, not that the building they’re doing it in has the word “bank” on the outside."

"Rather than dismantling corrupt power structures, bitcoin and crypto have just become a new tool for existing wealth. And that’s… exactly what happened."

"The idea of putting medical records on a public, decentralized, trustless blockchain is absolutely nightmarish, and anyone who proposes it should be instantly discredited."

"It’s an ecosystem that absolutely demolishes consumer protections and makes the re-implementation of them extremely difficult."

And so on and so on

Edited by SW19 CPFC (06 Apr 2022 2.06pm)

 


said the rabid giraffe whilst brandishing his throbbing member of reason, and twas ever thus.

Did you know? 95% of people are morons.

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View Beanyboysmd's Profile Beanyboysmd Flag 06 Apr 22 2.09pm Send a Private Message to Beanyboysmd Add Beanyboysmd as a friend

Originally posted by SW19 CPFC

Absolutely brilliant takedown of the fantasy world of crypto and NFTs by Dan Olson.

Be warned, it's 2 hours long, but if you want a better understanding of how this murky world works told in an intelligent, well researched and eloquent way, this is for you.

Especially relevant with the increasing proliferation of fan tokens infecting sport, and unfortunately, Palace.

If your social media eroded attention span can't handle it the first 30 minutes is good enough to get the gist.

[Link]

Edited by SW19 CPFC (06 Apr 2022 1.55pm)

Ive watched it 4 times now, it is genuinely an incredible video. Ive been a big fan of his for a while now, I think his video about flat earth/qanon should be compulsory viewing!

 

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View SW19 CPFC's Profile SW19 CPFC Flag Addiscombe West 06 Apr 22 2.13pm Send a Private Message to SW19 CPFC Add SW19 CPFC as a friend

And on the popular trope of 'Bitcoin makes things more secure'

Evangelists will commonly claim that blockchain could revolutionize the global shipping industry and reduce fraud. It’s a good claim to interrogate. First, the things that blockchain is capable of tracking are things that manufacturers and shippers are already tracking, or at least trying to track, so this is not so much “revolution” as it would be “standardization.

Even that is built on a predicate assumption that everyone picks the same chain. It’s an extremely optimistic assumption. Many, many, many firms deliberately want their information centralized and obfuscated to protect against corporate espionage. The lack of a shared, standardized bucket to put all the information into is not because it’s been heretofore impossible, but because it’s been undesirable. Second, it assumes the existence of a theoretical mechanism that ensures the synchronization of the chain and reality above and beyond the current capacity of logistics software, some means of preventing people from just lying to the blockchain and giving it the information it expects to be receiving, the blockchain equivalent of ripping off the shipping label and slapping it on the new box.

The bigger problem here is that in the pantheon of fraud, man-in-the-middle attacks are actually pretty rare. Global shipping needs to deal with it in certain capacities, but taken on the whole the vast majority of fraud doesn’t come from altering information as it passes between parties, rather from colluding parties entering bad information at the start. Con artists don’t hack the Gibson to transfer your funds to their offshore accounts, they convince you to give them your password. Most fraud comes from people who technically have permission to be doing what they’re doing. Rather than preventing these actual common types of fraud, cryptocurrency has made them absurdly easy, and the main reason why cryptocurrency needs to be so resistant to man-in-the-middle attacks is because the decentralized nature of the network otherwise makes them acutely vulnerable to those attacks.

What this all kinda means is that blockchains are all pretty bad at doing most of the things they’re trying to do, and a lot of the innovations in blockchains are attempts at solving problems that blockchains introduced.

 


said the rabid giraffe whilst brandishing his throbbing member of reason, and twas ever thus.

Did you know? 95% of people are morons.

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View Beanyboysmd's Profile Beanyboysmd Flag 06 Apr 22 2.37pm Send a Private Message to Beanyboysmd Add Beanyboysmd as a friend

Anyone can see your wallet, its open for anyone to see. I have literally seen Logan Pauls entire blockchain history from the day he opened one. No hacking, no special software, its all out in the open. Would you want that to be the future of finance? Where I can see every online payment you ever made? How much could I find out about you if all payments were made that way? What if your bosses chose to have a look to make sure 'your personal values tie in with theirs? What if the police used it to find out what sort of people you donate to to find 'potential trouble makers'?
What if people with trully bad intentions could see your entire financial history? If you are on the right, imagine what level of 'cancel culture' the lefties could inflict on people when they can see your entire history and can put anything thet want in your wallet with no ability to remove it?

I am pretty much a libertarian leftie and to me an authoritarian world would only take a couple of steps from here, if ypu are on the right then it should scare you that personal privacy would be over as we know it and cancel culture would have vastly more weaponry than just shouting online. As a capitalist you should be terrified that everything you have built can be taken from you by any bored teenager that just wants to see the world burn

Cryptocurrency has all the potential to be the very worst thing thats ever happened to society and the only reason it hasnt is that most people with half a brain know that they dont know enough about it to bet their future on it

 

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View SW19 CPFC's Profile SW19 CPFC Flag Addiscombe West 06 Apr 22 4.00pm Send a Private Message to SW19 CPFC Add SW19 CPFC as a friend

Originally posted by Beanyboysmd

Anyone can see your wallet, its open for anyone to see. I have literally seen Logan Pauls entire blockchain history from the day he opened one. No hacking, no special software, its all out in the open. Would you want that to be the future of finance? Where I can see every online payment you ever made? How much could I find out about you if all payments were made that way? What if your bosses chose to have a look to make sure 'your personal values tie in with theirs? What if the police used it to find out what sort of people you donate to to find 'potential trouble makers'?
What if people with trully bad intentions could see your entire financial history? If you are on the right, imagine what level of 'cancel culture' the lefties could inflict on people when they can see your entire history and can put anything thet want in your wallet with no ability to remove it?

I am pretty much a libertarian leftie and to me an authoritarian world would only take a couple of steps from here, if ypu are on the right then it should scare you that personal privacy would be over as we know it and cancel culture would have vastly more weaponry than just shouting online. As a capitalist you should be terrified that everything you have built can be taken from you by any bored teenager that just wants to see the world burn

Cryptocurrency has all the potential to be the very worst thing thats ever happened to society and the only reason it hasnt is that most people with half a brain know that they dont know enough about it to bet their future on it

There may well be some sort of use case that emerges from it that is actually usable and valuable but currently that doesn't exist

 


said the rabid giraffe whilst brandishing his throbbing member of reason, and twas ever thus.

Did you know? 95% of people are morons.

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