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The Everything Bitcoin Thread


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4 hours ago, nuckin_futz said:

The collapse and death have long been the object of conspiracy theories and this move certainly adds some weight to the evidence and highlights (at least) that founder Gerald Cotten wasn't the only bad actor involved.

 

Or maybe he was.    :ph34r:

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  • 3 weeks later...

Shocking

 

Cryptocurrency exchange Coinbase Global Inc. said on Tuesday it will reduce its workforce by about 20 per cent, or 950 employees, which is the third round of major layoffs at the company in under a year.

The company said it expects to incur about $149 million US to $163 million US in restructuring expenses. Its shares fell three per cent in early trading on the stock market. Over the past year, the company's shares have lost about 90 per cent of their value amid a broader cryptocurrency plunge.

"The entire industry is going through a crisis of confidence and trading volume remains very weak. This job cut is a reflection of the current challenging environment," said Owen Lau, analyst at Oppenheimer.

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30 minutes ago, Warhippy said:

Shocking

 

Cryptocurrency exchange Coinbase Global Inc. said on Tuesday it will reduce its workforce by about 20 per cent, or 950 employees, which is the third round of major layoffs at the company in under a year.

The company said it expects to incur about $149 million US to $163 million US in restructuring expenses. Its shares fell three per cent in early trading on the stock market. Over the past year, the company's shares have lost about 90 per cent of their value amid a broader cryptocurrency plunge.

"The entire industry is going through a crisis of confidence and trading volume remains very weak. This job cut is a reflection of the current challenging environment," said Owen Lau, analyst at Oppenheimer.

I just don't understand the utility of bitcoin. I flirted with the idea of buying Coinbase last spring but thankfully passed. Bitcoin is so narrowly owned that liquidity has to be a real concern. Pricing has stabilized somewhat over the past month but that number can be manipulated to easily to take any reassurance. I don't know much about the others. 

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6 hours ago, luckyjack said:

I'm looking for some new coins to invest in and I just found info about Shiba Inu (SHIB) coin, it seems to be interesting. This is the altcoin.

It has some movement and is tracking well like most lower tiered alt coins.  But just know you're gambling hard and better put set limits on what you're ready to lose

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  • 3 months later...

that's true, investing in crypto is like gambling. I love winning that's why I play Plinko Game Online games to win some money. Plus they are really entertaining esp when I started winning more. Roulettes and slots are the most popular casino games in the world. I know a fun way to gamble and potentially win some money without risking too much. 

Edited by WilliG
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2 hours ago, WilliG said:

that's true, investing in crypto is like gambling

I think it’s more like penny stocks.  Where it seems good but in reality somebody just did a pump and dump.  And then you’re out of luck.

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2 hours ago, BPA said:

I think it’s more like penny stocks.  Where it seems good but in reality somebody just did a pump and dump.  And then you’re out of luck.

The amount of movement in these crap coins or alt coins that go from like .00072 cents to .02 cents is kind of crazy.  people are still making insane money on them but this is a level of degenerate gambling I have no interest in.

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23 hours ago, BPA said:

I think it’s more like penny stocks.  Where it seems good but in reality somebody just did a pump and dump.  And then you’re out of luck.

In memory serves the Bitcoin market is controlled by half a dozen people. Your 'pump & dump' description is bang on. My take is that there was to much loose money floating around looking for a play. Crypto served that purpose. At the end of the day the utility is very limited if any. I thought Charlie Munger's take is " Crazy, stupid gambling".  

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