Cryptocurrency

I feel like this belongs here. Quite interesting, I think.

Might not be in the right thread, so please amend as necessary. R-

Nothing dodgy there at all then :rofl:

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If I was going to dabble (and I might at some stage), Ethereum is probably the one I’d go for. I do like the idea of something that is looking beyond just being a currency with its dapps and smart contracts. If developers can start building some useful dapps then the utility of ETH will presumably follow.

I think we need some actual things built on ETH chain, not just UniSwap clones etc

Quite right.
And as a mental health professional going back decades, I can confirm the narrative in this forum surrounding crypto is truly impenetrable.

I read every post with interest and can confidently report I don’t understand a word of it !!

But that’s ok - because you the experts do. I know I’m never going to need your help with it, but I know where to come if ever I fell foul :face_with_raised_eyebrow:

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So, I’ve been binging on Crypto documentaries lately; I keep seeing more and more articles on it in the FT and even sensible folk like Ray Dalio seem to be embracing it. It’s getting really difficult to ignore.

I still haven’t worked out whether this is a side effect of a lot of cash looking for places to go, or whether there’s something more profound going on. One thing I can’t square with the current financial system is how the massive amounts of debt will be dealt with.

I can see the benefits in giving the unbanked and those without a permanent address the means of building wealth and the means of exchange --you just need a smartphone to get started. There’s a lot of potential benefits to blockchain technology in general. I also think the move to proof-of-stake on the Ethereum blockchain will resolve a lot of the environmental concerns people have. I’m…almost convinced.

Once Starling start letting crypto transactions through again I’m going to stick some ETH in my wallet and ermm…HODL it.

What’s really shoddy is the reference to “illegally” stealing electricity. Tortology at its best.

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Sadly, that is the problem with some of todays journalism, why let the truth get in the way of printing bollox? The truth is often boring. Twisting facts or altering words to gain the interest of the reader, is far more titillating.

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That’s ad-supported journalism for you unfortunately. Generate clicks, earn money, even if you have to lie and post a tiny, tiny retraction article a few days later. The Daily Mail/MailOnline/Metro axis are big proponents of this.

Could always launch a news website that did the opposite, no headline grabbing titles on a monthly subscription fee; probably end up just being rewrites of main newspaper articles but with bias removed

To keep with the Cyptocurrency theme, I did come across a news platform that ran on the Ethereum blockchain, DNN, but I can’t access the site, so can’t tell whether or not it is still going. The Twitter account has been silent for over a year, so I suspect not:
https://dnn.media/

It’s a little strange how despite all the potential, a lot of the projects and exciting opportunities presented by blockchain technology, the only things that seem to stick around are the ones relating to speculating on the rising price of BTC and alt-coins.

Crypto dot com is just a massive ponzi scheme

Ponzi schemes are fine as long as you get out while the money is flowing

Crypto dot com spend zillions on advertising - I went to download the new Marcus App, and their app came higher up the (sponsored) search ranking than the, er, Marcus App. Just read any of the reviews of it, stories of people waiting months for their cards, and being unable to cash out the fake crypto that they are peddling.

They made tens of millions from their initial coin offering tbf

I’ve also never had any issues getting my coins out of the platform

In fairness, if you are an advertising algorithm there’s far more interest in crypto assets these days than there is in a savings account with an interest rate of 0.4%.

Plenty of people have

Yes, but what I’m saying is they have the funds to do whatever they want

One observation with Cryptocurrencies…they seem to be extremely correlated. When the wider stock market sells off, crypto crashes hard. When crypto crashes hard, they all crash hard.

Here’s the 3-day S&P500…

Central banks have started to talk about tightening, so I suspect that has a lot to do with it.