Crypto lounge thread

bucky

Ostrich
My suspicion is that the best of the party is over.
I finally got into crypto in February and basically just put my stimulus money into it, figuring why not, worst case scenario I lose the "free" money the government gave me. I'm up almost 50% as of today, several thousand USD, although a few weeks ago I was almost under water.

When you say the part is over, are you saying sell now, or that it's no longer a good time to buy more crypto? Just interested in your opinion (and everyone else's).
 

Easy_C

Peacock
That you aren’t going to become a millionaire overnight anymore now that the normies know about it and the potential pool of buyers is shrinking.

Remember that financial assets shoot up when you run out of sellers and crash down when you run out of buyers.
 

AntoniusofEfa

Kingfisher
I would say that the party is just getting started. Real businesses are starting to accept BitCoin as a payment method. Just wait until the USD finally crashes, and all the private sector will move to Monero/Silver/Gold. If you want to see how a broken economy works, take a look at Argentina. A friend of mine lived there years ago, and paid her rent in euro, as the local currency was (is?) worthless.
 

Kieran

Pelican
Gold Member
I don't really understand the charts and TA posted on Ethereum. What would posters here consider to be a good entry point for Ethereum going forward?
 

lonewolf1968

Kingfisher
I finally got into crypto in February and basically just put my stimulus money into it, figuring why not, worst case scenario I lose the "free" money the government gave me. I'm up almost 50% as of today, several thousand USD, although a few weeks ago I was almost under water.

When you say the part is over, are you saying sell now, or that it's no longer a good time to buy more crypto? Just interested in your opinion (and everyone else's).
Party is halfway through but not over, thing is the risk and return probabilities are not the same as last year. For instance, I purchased ADA when it was 0.12 cents, and now its nearly 1.70, the ones purchasing at these levels won't get 20x return in this bullrun, not even a 10x, The ones buying cardano now at best may get a 7x from here while i'd be 60x by then and i've already pulled out my initial invesment with a 1/9th of my bag. My risk is very low compared to people who are buying now. That is short mid term, long term we are all early. Just my two cents others may disagree
 

Slim Whitman

Sparrow
Controversial take: Is it moral to make money through speculating and gambling on risky instruments like crypto which produce no real value to society? Particularly the shitcoins. You could argue that Bitcoin is producing value because it's a new exchange medium that isn't subject to government oversight, even though that is totally false. But with the shitcoins that you can't spend anywhere, it's obvious that they are purely speculative mediums and the only way to make money is by selling them to a greater fool downstream, thus robbing him of his investment. It is very literally a ponzi scheme in every sense of the term. So is it a moral way to make money instead of working to create something of value for your fellow man?
 

lonewolf1968

Kingfisher
Controversial take: Is it moral to make money through speculating and gambling on risky instruments like crypto which produce no real value to society? Particularly the shitcoins. You could argue that Bitcoin is producing value because it's a new exchange medium that isn't subject to government oversight, even though that is totally false. But with the shitcoins that you can't spend anywhere, it's obvious that they are purely speculative mediums and the only way to make money is by selling them to a greater fool downstream, thus robbing him of his investment. It is very literally a ponzi scheme in every sense of the term. So is it a moral way to make money instead of working to create something of value for your fellow man?
Is the Fiat Ponzi scheme moral?, Is the current central banking and financial system moral?, is buying on Amazon with a credit card a moral thing? coming from the country I come from and given my low middle class background Crypto has been such a blessing. If I make enough money I'll probably start a business and help my family. I don't care about Lambos, trips to Greece or expensive stuff at all, I just see a once in a life time opportunity to make my life and my family lives better. I see a risky environment that will eat you up if you don't treat it with respect, intelligence, humility. I would kind of agree that investing on S*** coins projects may be gambling but that's why I've never bought doge or Safemoon, I only invest on real projects. I don't like scams and stuff like that. Cheers.
 

Slim Whitman

Sparrow
Is the Fiat Ponzi scheme moral?, Is the current central banking and financial system moral?, is buying on Amazon with a credit card a moral thing? coming from the country I come from and given my low middle class background Crypto has been such a blessing. If I make enough money I'll probably start a business and help my family. I don't care about Lambos, trips to Greece or expensive stuff at all, I just see a once in a life time opportunity to make my life and my family lives better. I see a risky environment that will eat you up if you don't treat it with respect, intelligence, humility. I would kind of agree that investing on S*** coins projects may be gambling but that's why I've never bought doge or Safemoon, I only invest on real projects. I don't like scams and stuff like that. Cheers.

None of that really fits the bill as moral per se but I don't view those other things as such blatant ponzi schemes.
I don't begrudge you your winnings, in fact I'm happy for you. But to me the whole system seems about as ethical as running a hedge fund or shorting corn futures. I wanted to hear what others thought about the moral implications. If you used some of your gains to help someone else in need, or invest in a productive small business, or donate to a political cause you believe in it would bring things into better balance IMO. If you can do it more power to you.
 

Deepdiver

Crow
Gold Member
Now that BTC has gone to the Moon and in a B top Turn and after I made 33X on some Beer and Cigar Money I left in Cardano after the 2018 correction when I bought Ada for 3 cents and cashed out about $1,500 I am "minting" NFT collections and selling for ETH to gen new ETH value (wealth) as NFTs are opening a wide range of opps to turn everything from Digital Art and NFTs representing real physical goods from collectibles (Silver Coin Collections to Trading Cards) to Real Estate Titles to now NFTs in lieu of IPOs and ICOs the two Key Blockchains for NFTs are ETH and Binance BNB the only other useful Cryptos I like besides mooned BTC are LTC - fast and cheap to use, BCH same, Monero only true secure privacy coin and the new DeFi and NFT competition for ETH and BNB blockchains.
 

fireshark

Robin
None of that really fits the bill as moral per se but I don't view those other things as such blatant ponzi schemes.
I don't begrudge you your winnings, in fact I'm happy for you. But to me the whole system seems about as ethical as running a hedge fund or shorting corn futures. I wanted to hear what others thought about the moral implications. If you used some of your gains to help someone else in need, or invest in a productive small business, or donate to a political cause you believe in it would bring things into better balance IMO. If you can do it more power to you.
Central bank fiat currencies are a blatant Ponzi scheme and they have zero limits on inflation. At least bitcoin can never be inflated.
 

bucky

Ostrich
Central bank fiat currencies are a blatant Ponzi scheme and they have zero limits on inflation. At least bitcoin can never be inflated.
Yes, I look at it as a situation where you have to do something to protect yourself from what the powers that be are doing with the USD.

By the way, sorry about all the typos in my posts lately. I proofread my posts, not sure how I miss them. It's slightly troubling.
 

Mikeyd03

Robin
@easyC running out of buyers? crypto isn't even at 5% adoption.....wait till the life changing gains arrive and people hear about their neighbors "retiring off of crypto"....

That's just retail.

And then there's Corporate FOMO....

Elon generated more shareholder value in a few months from holding bitcoin?

"Why didn't you purchase BTC like Elon CFO of X company....."

And then there's nation state FOMO......

"Oh Bulgaria holds 250k Bitcoin.......what if BTC becomes the reserve currency and our nation is left in the dust?"

Game theory is a powerful force.
 

fiasco360

Kingfisher
For people who are charting/monitoring SOL - it looks like a really strong buy right now at $42. I'd say minimum 15-18% jump in the next 2 weeks. Might get stuck at $50 but with all the new projects/ecosystem I am going to put more into SOL regardless.
 

tomzestatlu

Kingfisher
I wanted to buy some Raydium and I have got problems with it. I set up my Sollet wallet, transfered there SOL and connected it with Raydium DEX. As I try to trade SOL for RAY and click on Limit buy button, there´s infinite "loading" going on. The same for swap. Do you have an idea what could go wrong?

ray.jpg
 

fiasco360

Kingfisher
I wanted to buy some Raydium and I have got problems with it. I set up my Sollet wallet, transfered there SOL and connected it with Raydium DEX. As I try to trade SOL for RAY and click on Limit buy button, there´s infinite "loading" going on. The same for swap. Do you have an idea what could go wrong?

View attachment 30783
There should be a second window where you click approve.
 

tomzestatlu

Kingfisher
I didn´t notice there´s something happening in that window.

Anyway, I have ran into another problem. It was caused by the fact I didn´t create RAY wallet in Sollet. Fixed that.

And then another problem appeared.
In trade interface, it says: "Error placing order {"InstructionError":[2,{"Custom":1}]}"
And in swap interface, it says: "Transaction has been failed. Swap *amount* SOL to *amount* RAY"

I do leave som SOL in wallet to settle transactions.

This is what program log of transaction says:
  • Program 11111111111111111111111111111111 invoke [1]
  • Program 11111111111111111111111111111111 success
  • Program 11111111111111111111111111111111 invoke [1]
  • Transfer: insufficient lamports 43634693960, need 43839616600
  • Program 11111111111111111111111111111111 failed: custom program error: 0x1
All the transactions failed on "insufficient lamport". But I have no idea what it is.

EDIT: SOLVED
I was leaving around 0.4 SOL in my wallet, which was supposed to be enough for fees. But it didn´t work.
Actually I kept doing purchases for 1234.5 SOL and it always failed. Then I did a purchase for 1234.0 SOL and it worked, so maybe that was the reason (the amount of tokens you want to swap must be integer).
 
Last edited:

Coja Petrus Uscan

Hummingbird
Gold Member
I don't really understand the charts and TA posted on Ethereum. What would posters here consider to be a good entry point for Ethereum going forward?

I see ETH making a 3X from here. The top coins: BTC, ETH, BNB - I expect them to track the overall market well. Given the $1K move ETH has just made I would expect a pullback. I am expecting CAKE to outperform the market. If you are looking for 10X+ possibilities, I am only looking at the SOL tokens mentioned over the last few pages. [opinion]

For people who are charting/monitoring SOL - it looks like a really strong buy right now at $42. I'd say minimum 15-18% jump in the next 2 weeks. Might get stuck at $50 but with all the new projects/ecosystem I am going to put more into SOL regardless.

Was waiting for this correction for RAY back down to $12.50. Truck reversed. Gone for: RAY staking (45%), FIDA-RAY fusion (125%), RAY-SRM farm (90%), RAY-SOL farm (70%).

I was leaving around 0.4 SOL in my wallet, which was supposed to be enough for fees. But it didn´t work.
Actually I kept doing purchases for 1234.5 SOL and it always failed. Then I did a purchase for 1234.0 SOL and it worked, so maybe that was the reason (the amount of tokens you want to swap must be integer).

If you use the Sollet extension it does a better job of popping up when needed.

It takes a little getting used to, though I am quickly comfortable with it now. One of the odd features is once you complete a trade, you then have to settle it:

Screenshot at 2021-05-07 15-29-04.png

Sometimes TXs are rejected with no obvious reason. Though that happens with ETH and BSC too. BSC seems to have the least issue with this and when it does they seem to go through a second time.
 

Dr Mantis Toboggan

Kingfisher
Gold Member
For people who are charting/monitoring SOL - it looks like a really strong buy right now at $42. I'd say minimum 15-18% jump in the next 2 weeks. Might get stuck at $50 but with all the new projects/ecosystem I am going to put more into SOL regardless.

I bought a bunch around $7-8.....then sold around $17. I know I should buy back in but it's such an ego hit.
 

Coja Petrus Uscan

Hummingbird
Gold Member
Controversial take: Is it moral to make money through speculating and gambling on risky instruments like crypto which produce no real value to society?

I have covered this in the BTC thread, and for stocks.

Everything you say is correct. Crypto is attached to very little real wealth. Most of the $2.4T market cap is speculation. Further, the model being used by crypto is a less-direct form of investment, whereby you hold tokens and don't have equity. And since these tokens are not really backed by real wealth, but speculation, it is an ultimately very flimsy store of value. Though I think long-term it will provide better avenues. Currently only gilded VCs get to really invest, and not speculate. Crypto is opening the door. The space needs time.

But you can say the same of stocks. If I bought $100,000,000 in stocks five years ago, which is now worth $200,000,000, my capital did not help anyone do anything, and the gains I got come indirectly via other people doing work which is redistributed to me; for the simple act of clicking 'buy'. Modern investment is generally immoral in my opinion.

I am in this to make big gains from latecomers, which is exactly what is happening, and little else is happening. If you have made money from crypto it's because others bought the price up and sat on them like you. There are posts of me saying this going back to 2017. I am not a normie who doesn't know the mechanics or an inflated Gordon Gecko. I know what is happening. A bunch of people who would be spending this money on junk food, games, toy models, tattoos, drugs, booze, fags, prostitutes, exuberance, masturbation paraphernalia, satanic modern culture and the rest of it, are instead putting the fruits of their labour in our pockets. Put it to good use, as they would not.

For me, my dream/plan is to buy a large tract of land and open it up to the pious for settlement; and take it from there. If I could do that I would be more than happy to develop it with millions more creamed out of the hands of secular gamblers.

Further, probably like most here, I have spent the last eighteen years or so of my life being told I am mad, bad and/or stupid. I am an empirically-oriented person and have read quite a lot of elite writings as to what they plan to do; and feel I have a fairly good handle on the system, such as central banking and the mode of international governance. At least as much as you can discern. Like most I've heard it all: Hitler! Nazi! Conspiracy theorist! You're going to disappear into a void! Drag queen story time readers are differently not pedophiles! Ohhh, crypto, isn't it risky!?!?!? (as fiat is devaluing 1% per month)! You're oppressing people! White fragility! Male fragility! Tin-foil hat! Misogynist (as I call for a pornography ban so other's daughters are not held down and splooged for millions of sofa masturbators to pervert their soul over)! Fascist! You just don't care about people! Oooh, I'm worried you're going mad! You're loosing touch with reality! Climate change denier! You're such a contrarian! Look what you're doing to the global south!

I have watched as these people are 90% wrong about everything and I am 90% right about everything. Yet the more we are right and the more they are wrong, the more they harass you into silence. These are the retail late-comers who are going to buy crypto at prices that won't be seen again for a few years. The writing has been there for them to see what is right for years, and they have chosen to only believe what secular authorities download into their brain via soy-based couch-potatoes like Brian Stelter. If you have been maligned for decade(s) for presenting truth that is opposed to mainstream lies they believe as they blow their top at you for wanting to deprive them of the right of masturbating to others' daughters, here is your chance for recompense. Oh, and Jamie Dimon is among them.

In the last few months I have gone through a considerable transformation. I can no longer stand to be around normies or lefties - people who repeat whatever secular authorities tell them, regardless of how obviously fraudulent that may be. Those who will do their best to make you feel gravely uncomfortable, stupid, bad for presenting easily verifiable or convincing alternatives to the mainstream delusion. Being around these people is pure poison. A great many of them are operating in a way to try and keep you from being in any way materially or socially better than them, believing that to be moral. You'd do better removing your eyes, tranquilising your tongue and duffing your ears in than listening to them. Or better yet, do the opposite of whatever they recommend. Research is not that necessary when you can just invert the playbook of programmed losers. They have earmarked themselves for destruction, submit to anything they are instructed to submit to and do anything to hobble and malign you.

Another thing this has exposed is the nature of money. Crypto bears a great resemblance to the emergence of the Internet. The difference is that the emergence of decentralised finance and applications has been financialised. If it wasn't, we would be hearing little about this space. If late 80s bulletin boards, usenet and small 100bps ISPs were financialised in 1990, we would no doubt have seen a financial bubble in them. It took another ten years for that bubble to emerge. I believe the real crypto-bubble (10s of $T) will emerge around 2030-2040. This is in concert with uber-retail brokerage, like Robinhood. You can criticise Wall Street, but the nature of degenerate gambling among smallholders on Robinhood, eToror etc. is far greater. And it's based on zero understanding. You can see the same in satanic pop culture. Again, criticise Hollyweird. But when the tools of creation are handed over to the general population, they are even worse. It all exposes the need for a moral elite, which we don't have. We have an immoral elite, who wield a public who would be even more immoral if they had the material backing to be so.

In the case of crypto, greed and zero-information FOMO normies are helping propel the space. Hopefully some tools will come out of it that can combat the immoral elite.

The last point is, consider the perverse life of Roosh V (20-40), who is now read by esteemed Orthodox clergy (see the Roosh V thread). It is not apparent what is going on in these times. But in trawling through the cesspool, which includes degenerate crypto trading, it seems to me, we will find what we need to resist whatever is coming.

P.S. Slim, the use of profanity has been banned.
 
Top