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  • 3 weeks later...

Interesting article from CNET about some of the alternatives to Bitcoin:

 

https://www.cnet.com/features/beyond-bitcoin-the-wild-world-of-altcoin-cryptocurrency-trading/

 

An excerpt:

 

*******************************************************************************************************************************

 

It was a Saturday morning in December and Adam was feeling bold. 

 

He'd made thousands of dollars on a single trade the night before, and was feeling lucky. But Adam wasn't trading on the NASDAQ, pumping GameStop stocks or investing in a startup. He was about to sink $2,500 into a cryptocurrency called DeTrade.

 

It seemed safe. Adam had investigated the coin's development team on LinkedIn, and watched a video of its CEO laying out a roadmap for the coin's future. A newswire piece published on Yahoo touted DeTrade's technology as advanced enough to disrupt cryptocurrency.

 

Bitcoin is very much back in the zeitgeist. On Tuesday, ahead of CoinDesk's listing on the NASDAQ, it reached an all-time-high of over $63,000, exploding almost 10-times in value compared to the same date last year. But while for many people Bitcoin is synonymous with cryptocurrency, it's not what crypto traders like Adam are interested in. Beneath Bitcoin and Ethereum, the second-best-known currency, is a strange underworld of different cryptocurrencies. 

 

Called altcoins or, sometimes, "$&!#coins," these are essentially penny-stock cryptocurrencies. And they're crazy. Bitcoin tripled its value recently, but many altcoins explode 30, 40 or 50 times over within days. The most famous is Dogecoin, which recently shot up past 10 cents thanks to a potent combination of Reddit and Elon Musk, but there are thousands of altcoins, forming an Indiana Jones-esque Cave of Crypto Wonders. The spoils can be life-changing, but there are traps around each corner. Fortunes can be made and lost in seconds. Cons and fraudsters are everywhere, with traders vulnerable to scams at each step of the process. 

 

Case in point: Adam's foray into DeTrade. The touted technology behind it wasn't real. Nothing about the project was. The LinkedIn profiles were fake, and the video of its CEO was a deepfake created with AI. It was a scam. Those behind it, operating in the unregulated world of crypto, vanished. Adam lost his $2,500, but he got off easy. In total, those behind the scam took in around $2 million. 

 

Just a regular day playing with altcoins, says Adam.

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  • 3 weeks later...

Never ask a c comedian for investment advice. I like Bill, but he's just another boomer hating on something he doesnt understand. Carefully cherry picked information, sheep in the crowd roaring because the the obvious notion must be "If I dont understand it, it must suck"

 

Best performing asset year over year over year. Best performing asset of the decade. 

Yeah I'm happy with my BTC. 

 

 

 

 

 

 

Edited by themcdeal
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4 hours ago, themcdeal said:

Never ask a c comedian for investment advice. I like Bill, but he's just another boomer hating on something he doesnt understand. Carefully cherry picked information, sheep in the crowd roaring because the the obvious notion must be "If I dont understand it, it must suck"

 

Best performing asset year over year over year. Best performing asset of the decade. 

Yeah I'm happy with my BTC. 

 

 

 

 

 

 

As just another boomer I got a laugh out of Bill's routine and I share some of his misgivings about Bitcoin.  And although I don't hate it, I have to admit I don't understand it either.

 

But, yeah, you may be right.

 

Bitcoin has probably been the best investment ever, hasn't it?  At least, up till now and for those who got in early?

 

To quote another boomer:

 

"But something is happening here and you don't know what it is
Do you, Mr. Jones?"

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10 hours ago, themcdeal said:

Never ask a c comedian for investment advice. I like Bill, but he's just another boomer hating on something he doesnt understand. Carefully cherry picked information, sheep in the crowd roaring because the the obvious notion must be "If I dont understand it, it must suck"

 

Best performing asset year over year over year. Best performing asset of the decade. 

Yeah I'm happy with my BTC. 

 

 

I like some of Maher's takes, watch him regularly. but yeah, he is just another comedian talking about something out of his pay grade -- John Oliver also did a segment on bitcoin and while it was less editorialized than this, I found it to be largely based in ignorance too

 

but Maher does raise some decent points. crypto is in a dangerous mania phase and some coins/tokens have colossal market caps with zero product or ANYTHING to show for it. Cardano is a perfect example. Cardano barely exists outside of a theoretical concept. BNB is another bizarre token that appears to just be a copy/paste of another product, which then spams its own chain with tiny transactions to act like it's an ethereum competitor lol. these companies have market caps that rival some of the most important companies on the planet with products everyone uses.

 

ive been into bitcoin for a few years now, i'm into it. i like it, it's interesting to me. but everything seems extremely weird right now and i think it's long overdue for a big correction so people in the space can actually develop some working, applicable ideas

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13 hours ago, GLASSJAW said:

 

I like some of Maher's takes, watch him regularly. but yeah, he is just another comedian talking about something out of his pay grade -- John Oliver also did a segment on bitcoin and while it was less editorialized than this, I found it to be largely based in ignorance too

 

but Maher does raise some decent points. crypto is in a dangerous mania phase and some coins/tokens have colossal market caps with zero product or ANYTHING to show for it. Cardano is a perfect example. Cardano barely exists outside of a theoretical concept. BNB is another bizarre token that appears to just be a copy/paste of another product, which then spams its own chain with tiny transactions to act like it's an ethereum competitor lol. these companies have market caps that rival some of the most important companies on the planet with products everyone uses.

 

ive been into bitcoin for a few years now, i'm into it. i like it, it's interesting to me. but everything seems extremely weird right now and i think it's long overdue for a big correction so people in the space can actually develop some working, applicable ideas

You clearly have no idea what you are talking about.  And I don’t mean to be disrespectful.  
I believe you meant Doge coin.  In which I completely agree.   Doge is pure meme and has zero value ! 
 

look into cardano, it’s an incredible project.  

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23 hours ago, sassbs said:

You clearly have no idea what you are talking about.  And I don’t mean to be disrespectful.  
I believe you meant Doge coin.  In which I completely agree.   Doge is pure meme and has zero value ! 
 

look into cardano, it’s an incredible project.  

That's what pisses me off. GME, this, things I didn't put because they're bull$&!# but some dweeb who put in 500 bucks is killing it. 

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1 hour ago, Tortorella's Rant said:

That's what pisses me off. GME, this, things I didn't put because they're bull$&!# but some dweeb who put in 500 bucks is killing it. 

Lolll I feel you.  Some dipsh!!t puts in money in doge cause they love dogs, and now they are in 6 figure territory with little to no knowledge on how things actually work.  

Ughhhh

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34 minutes ago, sassbs said:

Lolll I feel you.  Some dipsh!!t puts in money in doge cause they love dogs, and now they are in 6 figure territory with little to no knowledge on how things actually work.  

Ughhhh

Doesn't help that Musk and other Billionaires jokingly help raise the price up and down. 

I am sure it is like a joke coin for them. 

 

I have doubled down on what I call the big 4 (Bitcoin, Ripple, Litecoin, and Ethereum) 

 

These coins aside from Ripple have produced great results. 

Edited by drummer4now
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On 5/3/2021 at 11:53 AM, sassbs said:

You clearly have no idea what you are talking about.  And I don’t mean to be disrespectful.  
I believe you meant Doge coin.  In which I completely agree.   Doge is pure meme and has zero value ! 
 

look into cardano, it’s an incredible project.  

not only is Cardano NOT an incredible project, it actually has no WORKING product. yes, great, it finally achieved decentralization after years and years of minting from IOHK (and Hoskinson LITERALLY bought his lambos), but not until Cardano releases a working smart contract network, which it should have done years ago, will I even consider it a functional product, let alone an incredible one. and once it releases its long-overdue testnet and public network, it will have to prove to be functional for use (look at the problems eth is now having with network congestion)

 

if you just watch Hoskinson talk about the Cardano roadmap, you'll see he offen defers to things like academics and research regarding theoretical scaling as the reasons for these delays - paper publishing is more important than testnets, i guess? - and like clockwork these issues lead into vague tangential rants about governance and like the liberation of Africa, still without there being an actual working product. in recent years he has said use and utility will potentially work in scale in 3-5 years, with the governance spook being solved "within decades."

 

in the meantime will people make money? sure. but like i said regarding Bill Maher's video, there are companies out there making products that hundreds of millions of people rely on every single day and they don't even have half the ADA marketcap. in what world is Cardano an incredible project and not just, at best, an incredible idea?

 

i love bubbles because they're great for making money, but emotional attachment to investments is the easiest way to be left holding the bag

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3 hours ago, GLASSJAW said:

not only is Cardano NOT an incredible project, it actually has no WORKING product. yes, great, it finally achieved decentralization after years and years of minting from IOHK (and Hoskinson LITERALLY bought his lambos), but not until Cardano releases a working smart contract network, which it should have done years ago, will I even consider it a functional product, let alone an incredible one. and once it releases its long-overdue testnet and public network, it will have to prove to be functional for use (look at the problems eth is now having with network congestion)

 

if you just watch Hoskinson talk about the Cardano roadmap, you'll see he offen defers to things like academics and research regarding theoretical scaling as the reasons for these delays - paper publishing is more important than testnets, i guess? - and like clockwork these issues lead into vague tangential rants about governance and like the liberation of Africa, still without there being an actual working product. in recent years he has said use and utility will potentially work in scale in 3-5 years, with the governance spook being solved "within decades."

 

in the meantime will people make money? sure. but like i said regarding Bill Maher's video, there are companies out there making products that hundreds of millions of people rely on every single day and they don't even have half the ADA marketcap. in what world is Cardano an incredible project and not just, at best, an incredible idea?

 

i love bubbles because they're great for making money, but emotional attachment to investments is the easiest way to be left holding the bag

You are right with these points, however,  Cardano is mitigating all the problems that ETH is going through now.....When you build a plane you don’t want it to fly with all kinda fundamental problems cuz ur $&!# will crash (which ETH is going through now)- instead they took the slower and more methodical approach to build a solid ecosystem which was meticulously timed to roll out the same time the bull market peaks....Greyscale trust, Africa deal, ERC-20 converter, over 70% of ADA being staked in Yoroi and Daedalus wallets goes to show that they have the backing of institutions and retail investors.....Who knows how they will perform 4 years from now but the mere fact that they have been this relevant on the cusp of the launching of their smart contracts goes to show that people are speculating that ADA will compete with ETH.....Their transaction fees are dirt cheap, they have an ERC-20 converter that allows any developer that’s on ETH to EASILY MIGRATE to ADA protocol, their building the same ecosystem like ETH (DEFI, NFTs, Oracle chains, derivatives), but it will be cheaper and faster....It will perform really well in this cycle and the next 4 years is all dependent on its utility....

 

I’m a 100% supporter of ADA

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On 5/4/2021 at 1:16 PM, drummer4now said:

Doesn't help that Musk and other Billionaires jokingly help raise the price up and down. 

I am sure it is like a joke coin for them. 

 

I have doubled down on what I call the big 4 (Bitcoin, Ripple, Litecoin, and Ethereum) 

 

These coins aside from Ripple have produced great results. 

What makes Litecoin unique?

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4 hours ago, I.Am.Ironman said:

What makes Litecoin unique?

Not necessarily unique but it is a very stable coin that is reaching all time highs now. 

 

IMO it is like 3rd best behind bitcoin and eth 

 

Ripple has been disappointing thus far... 

 

I don't invest in coins under $10.00 just waste of time unless you have plenty of capital/patience to spend. 

Edited by drummer4now
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