-
Ever wanted an RSS feed of all your favorite gaming news sites? Go check out our new Gaming Headlines feed! Read more about it here.
-
We have made minor adjustments to how the search bar works on ResetEra. You can read about the changes here.
For the last several months I have effectively been all in on cryptocurrencies: My experience with decentralized finance.
- Thread starter Deleted member 1659
- Start date
- Status
What don't you understand? Do you realize if everyone stopped pumping money into crypto the op wouldn't be gaining any interest on their investment?
FWIW I found OPs post interesting. I'm in crypto, but not to that level, so found his strategy intriguing to read about *shrug*
OP
OP
It's usually directed at me, lol. A lot of users here start threads about crypto and related topics and get by fine. This one really isn't even about crypto at all. It's about decentralized finance which is one of the real world use cases of crypto. If I wanted to talk about Ethereum and it's current price, I'd take it into the OT.
So if you understand that concept, do you also understand that cryptocurrency is valueless until people put real money into it?
In commodities. Elsewhere you'd also have things like dividends that don't necessarily require just a bunch of people buying in and driving the stock price up.
Yes, I understand crypto, it's dumb and new and scary. I understand how you feel.
On behalf of the moderation team, I ask we close this thread and revoke all thread making power from the OP!
So you initially asked
"How does that work when the crypto they're talking about is a stable coin aka always $1?"
In reply to
"Because the more people you convince to put money into crypto, especially your choice of crypto, the more you have to gain.
Never have we seen so many people want to share their investments like the way we see people like you talk up crypto. There's no question as to why."
So you understand the entire scheme of the thing. There's nothing further to be said.
OP
OP
Donald Trump actually.
"I am not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated crypto assets can facilitate unlawful behavior, including drug trade and other illegal activity."
You can donate here: https://secure.winred.com/save-amer...728.278400198.1636007018-531414407.1636007018
So how do you explain GameStop and AMC? Dead businesses that no one cares about till everyone started shilling it to make money and you got a frenzy. That's the same Ponzi scheme you keep talking about.
So no talking about any crypto/stocks/or any market that people make money on. You asked why people talk about crypto, same reason people talk about gme/amc/tesla/apple . They all have large communies of people talking about them. Its 2021 more people talk to each other and more people have been educated in investment. More people are looking at alternative ways to spend and save money because banks are screwing us over, while some people just wanna park some money somewhere and get good interest rates. I don't know talking to people like you doesn't really win me over. tesla
Why do you think a bunch of real investors got pissed off when a fuck ton of redditors got together to artificially inflate those stocks? Hell why don't all of us on Resetera collectively decide to back some random coin or some random stock? Panda Express sound good to everybody? This is market manipulation.
Don't pretend like people are simply trying to educate eachother on ways to invest when there's a direct correlation with personal gain. Ever since cryptocurrencies began there's been ulterior motives.
Lucky you not a mod and we're allowd to talk crypto/stocks in the hundreds of threads we've had here. I tried to even give you examples and it's not worth my time if you're emotionally in this like a bunch of people are around here. I told you tho shit is dumb……..but this world is much dummer Lol.
Last edited:
Tbh this a legitimate grievance with all this stuff. I don't really think crypto is going anywhere and I'd love to see the market reward a push towards using less energy.
Uhhh, you want him to post gains to be... less evangelical? What?
Posting gains and not losses is one of the primary self promotion methods of social media traders. Plus it is extremely easy to fake gains.
OP
OP
User Banned (1 Day): Trolling over a Series of Posts
Interestingly enough, back when I was a bit more skeptical of this space, I had a similar belief. I decided to attend a Ted Talk by Charles Hoskinson back in 2018 about it since I was in the area at the time. Hoskinson in case many of you are unfamiliar with his work, is the founded of Cardano and it's native token, ADA.
Anyways, during the talk on decentralization and the future of cryptocurrencies, I became more and more convinced he was legit and not just a snake oil salesman. During the question and answer period I had an opportunity to ask him a tough question so I did. I asked him why there were so few real world use cases for cryptocurrencies at the time and why did we need Cardano.
He looked pissed but was polite and answered my question with a PR friendly response and then asked me to approach him after the event before taking questions from other audience members.
"Later that night, in bed, as he lit a cigarette, I strummed my fingers across his bare chest and reminded him about my question earlier. He placed his fingers over my lips and whispered into my ear, "How can I think about real world use cases for crypto when I have this on my mind all day?" as he caressed me ass before placing his lips onto mine.
Actually we are trying to educate each other. I'm the one who introduced OP to defi in the discord.
But unlike him I don't have the patience to introduce it to people like you on this board
He could definitely kiss my ass,hes a straight asshole fuck em.Ada seems promising too, but yeah he definitely turned me off.
User Warned: Whataboutism
O
why do we allow destructive products to the environment such as slave labor video games on this board?
why do we allow destructive products to the environment such as slave labor video games on this board?
Maybe you should let people come to you as opposed to force the word of your cryptocurrency lord upon us.
No one forced it on you. You chose to enter this thread. You had the choice to ignore it.
Spreading information is not putting a gun to someone's head and forcing them to buy a crypto.
Entertainment, which is really weird to say. And something that isnt talked about outside a stickyed thread that people look past to fight over plastic.
Isnt that what a forum is? You pick which thread you go into……
The only reason I don't put you and every crypto thread on ignore is that I've seen for myself how much people can lose when investing in this volatile market. As much you want to spread the word of crypto I want to prevent more people from falling for it.
I do think OP should cool it tho. But that's for anyone who constantly post about the same topic.
Ok that's weird I dont talk much about crypto or even go to the OT. You're on this site more than I so play moderation idc really. I don't add anyone to ignore I just move on. So sue me
On topic tho, I am interested in investing more finally have a stable job and I've done some research on this and the yields seem good. I never really thought about doing the whole stable coin route and throw some play money around as collateral. I've just been picking a coin and throwing pocket change at it. Definitely gonna spend more time doing research or who I choose it sit my assets with. Because as dumb as crypto is I don't think it's going anywhere, but I still wanna be cautious.
I live in europe and only do spot trading as reporting gains from defi for taxes seems like a hassle. But there are several good ways to make a high apy. For example liquidity provider for dexes. It is highly intriguing. But I never looked much into it....maybe I should.
But you are not doing yourself a favor posting here. Most people see crypto as a mixture of everything bad and just want to let their money rot in a bank account, being eaten away by inflation. I won't even hassle posting anything crypto related anymore because most people have their opinions already set and if you try to explain advantages from defi vs. Tradfi you are some kind of cult member or something. Why people love traditional finance because of whatever reasons is beyond me.
But you are not doing yourself a favor posting here. Most people see crypto as a mixture of everything bad and just want to let their money rot in a bank account, being eaten away by inflation. I won't even hassle posting anything crypto related anymore because most people have their opinions already set and if you try to explain advantages from defi vs. Tradfi you are some kind of cult member or something. Why people love traditional finance because of whatever reasons is beyond me.
I would be less skeptical of Crypto and stuff like NFT if they were more open with their ads,
Like I am really supposed to believe that Elijah Woods somehow decided to promote this one random NFT by a racist guy and not that some guy paid Elijah Woods to promote his NFT
Hell Rolling Stone just put up what basically amounted to an ad for one of those stupid animal NFT things and at the bottom they admitted that they went into business with them.
At least with stuff like Cyberpunk I know its an ad from the start,I am not going into a video titled "How Cyberpunk 2077 is changing video games" and then seeing some guy talk about how much pussy the Cyberpunk 2077 devs are getting, and how CDPR is the best developer in the world, and how much better it is than GTA V in every way, and then at the bottom I see "Hey we are getting put into Cyberpunk 2077 as a side quest"
Like I am really supposed to believe that Elijah Woods somehow decided to promote this one random NFT by a racist guy and not that some guy paid Elijah Woods to promote his NFT
Hell Rolling Stone just put up what basically amounted to an ad for one of those stupid animal NFT things and at the bottom they admitted that they went into business with them.
At least with stuff like Cyberpunk I know its an ad from the start,I am not going into a video titled "How Cyberpunk 2077 is changing video games" and then seeing some guy talk about how much pussy the Cyberpunk 2077 devs are getting, and how CDPR is the best developer in the world, and how much better it is than GTA V in every way, and then at the bottom I see "Hey we are getting put into Cyberpunk 2077 as a side quest"
You should charge him interest on what he owes, since apparently crypto is so great that he had been making interest on your hard earned money.
I definitely get this it's mad annoying seeing that shit plastered everywhere. I always ignore crypto like that. Most in the top 20 isn't like that. But the shitcoins oml they just throw money at people. Crypto's a dumb market, for a dumb world.
While I do agree there are people who go into crypto as a ponzi scheme but your totally ignorant if that's all you can see is happening.
Cryptocurrency number 1 major appeal is illegal activities.
When people first started out using it to facilitate trading it worked reasonably well to trade for drugs, weapons and sex.
Ever since the millionaires started getting into crypto they are using it to get around government regulations. China making new rules each year on cryptocurrencies greatly affected the price because it was the biggest market for foreigners and Chinese millionaires to trade with each other beyond the limitations imposed by the government. The Chinese government tolerated bitcoin etc because the trading helped foster growth for small lending businesses.
Who knows how much of their trading could be classified as illegal today but the 1% have valid reasons to consider using crypto for legal activities and most likely are.
Yeah it gained traction early on for drug purchases. Thats the main transactional use case.
Also used to fulfill ransoms.
But most of the excitement is speculation
OP
OP
You talking about UST? Everyone on this subreddit could unload their life savings into it and it would still only be worth $1 bro. It's pegged to the value of the US Dollar.
it´s 20% apy on the amount of ust. as in you have 100ust, and after a year you have 120ust
not value gain like stonks.
- Status