54_and_counting Posted June 17, 2022 Share Posted June 17, 2022 17 hours ago, Zetterlund said: It's pretty funny seeing you guys determined to find nefarious activity at every turn in crypto.. Is crypto the only industry where normal marketing practices are not allowed? Apparently nobody can take an interest in it without being "lured in" Airdrops are a completely harmless feature where the only people who benefit are those who receive the 'free' coins, and the Ethereum miners who are compensated for keeping the network running. They're often given out as a reward for being into a project for x amount of time or for using a particular app like an exchange in the past. Crypto is a highly speculative, high risk market. It behaves like startup tech stocks. Why do people buy non dividend-yielding shares? It's because they hope the price goes up and they can sell it for a higher price to someone else later. Have these people been "lured in" too or is the crypto market singularly illegitimate? Ita absolutely nothing like buying start up tech stocks, or any kind of stock, buying stocks, you at least have a history of the company, its ceo, owner blah blah, with startup stocks you can at least see their projections, plans and if you really do research you can tell if the ceo/owner is a proper business guy or an absolute fucking fruitcake who's business model is to sell ice to the eskimos Crypto has nothing like that, its history is based around people buying it and thats it, theres no future projections that can be backed with hard data or a business model, its literally blind faith 0 Quote Link to comment Share on other sites More sharing options...
54_and_counting Posted June 17, 2022 Share Posted June 17, 2022 7 hours ago, jamamafegan said: Tbf I would 100% buy a Pie & Bovril themed coin. Artists impression of div selling a p&b coin 5 Quote Link to comment Share on other sites More sharing options...
Zetterlund Posted June 17, 2022 Share Posted June 17, 2022 5 hours ago, 54_and_counting said: Ita absolutely nothing like buying start up tech stocks, or any kind of stock, buying stocks, you at least have a history of the company, its ceo, owner blah blah, with startup stocks you can at least see their projections, plans and if you really do research you can tell if the ceo/owner is a proper business guy or an absolute fucking fruitcake who's business model is to sell ice to the eskimos Crypto has nothing like that, its history is based around people buying it and thats it, theres no future projections that can be backed with hard data or a business model, its literally blind faith There are plenty of scammy cryptos like you describe, some even with anonymous teams behind it, and of course anyone putting money into these things deserves everything they get. But any legitimate project will have a public CEO, a technical white paper and a business plan etc so you know what you're investing in. Whether it actually succeeds or not is another matter. When I made the comparison to tech startups I was actually referring to the behaviour of the markets in terms of price movement. Bitcoin is similar to ARKK Innovation ETF, for example. On a side note, there was an amusing tech startup scandal recently involving Nikola Corp, a company set up to make electric trucks. In 2020 they released a marketing video of a new EV artic truck driving along the road and their share price rocketed 600%. It turned out the truck had no motor and was simply rolling down a hill with the camera at a slight angle. The shares crashed and the CEO was done for fraud. Maybe this is the best example of parallels between tech stocks and crypto 2 Quote Link to comment Share on other sites More sharing options...
strichener Posted June 17, 2022 Share Posted June 17, 2022 1 hour ago, Zetterlund said: On a side note, there was an amusing tech startup scandal recently involving Nikola Corp, a company set up to make electric trucks. What's more amusing is that if you invested in Nikola this year you would still be ahead of a bitcoin investor. 1 Quote Link to comment Share on other sites More sharing options...
Satoshi Posted June 17, 2022 Share Posted June 17, 2022 Just had a look there (dunno why I had forgotten to do in May) but my entire losses in this crypto winter were eclipsed by my monthly losses in the stock market. Puts it into perspective I guess. With a modest 3% equity increase I'll be able to make it to my ambitious savings target - provided I spend nothing and somehow make an extra £1400 a month Would need an 11% increase to stay close to my average monthly spending. More likely to drop another 11% than rise but always next year I guess My actual spending (and income) will remain totally unaffected. -5 Quote Link to comment Share on other sites More sharing options...
IrishBhoy Posted June 17, 2022 Share Posted June 17, 2022 Noticed that these NFT collections that had been previously going for eye watering sums of money have had the arse completely torn out them over the past few weeks. The ‘Bored Ape’ NFTs that were all selling for $100k and above have apparently lost 70% of their value. Unless you were already a millionaire, how stupid would you feel after buying a drawing of a bored ape for a 6 figure sum, that was probably done on ProCreate on an iPad in about 20 minutes, that’s now worth 30% of what you bought it for? Im not the most clued up on these NFT markets, but surely that bubble has well and truly burst and there’s absolutely no way that those prices will ever recover? Gary Vaynerchuk will be sleeping on the street if it keeps going at this rate. 1 Quote Link to comment Share on other sites More sharing options...
topcat(The most tip top) Posted June 17, 2022 Share Posted June 17, 2022 14 minutes ago, IrishBhoy said: Noticed that these NFT collections that had been previously going for eye watering sums of money have had the arse completely torn out them over the past few weeks. The ‘Bored Ape’ NFTs that were all selling for $100k and above have apparently lost 70% of their value. Unless you were already a millionaire, how stupid would you feel after buying a drawing of a bored ape for a 6 figure sum, that was probably done on ProCreate on an iPad in about 20 minutes, that’s now worth 30% of what you bought it for? Im not the most clued up on these NFT markets, but surely that bubble has well and truly burst and there’s absolutely no way that those prices will ever recover? Gary Vaynerchuk will be sleeping on the street if it keeps going at this rate. There’s going to be a certain amount of Conspicuous Consumption involved in gambling Being seen winning money in a casino makes you look like a winner, losing money in a casino and staying calm lets you show off how much you can “afford to lose”. Of course to others it’s hard to tell the difference between that and the person who’s putting a brave face on it or the person who is in denial. 0 Quote Link to comment Share on other sites More sharing options...
Zetterlund Posted June 17, 2022 Share Posted June 17, 2022 0 Quote Link to comment Share on other sites More sharing options...
IrishBhoy Posted June 17, 2022 Share Posted June 17, 2022 2 minutes ago, topcat(The most tip top) said: There’s going to be a certain amount of Conspicuous Consumption involved in gambling Being seen winning money in a casino makes you look like a winner, losing money in a casino and staying calm lets you show off how much you can “afford to lose”. Of course to others it’s hard to tell the difference between that and the person who’s putting a brave face on it or the person who is in denial. Apparently there is 10,000 of these ‘Bored Apes’ in circulation, somehow ranked by how rare they are. God knows how that works when there is only one of each ‘ape’. I just went and googled to see who had bought the most of these NFTs and it’s mainly celebrities who are also multi-millionaires, so I can’t feel too sorry for them. Tom Brady acquired one for 133ETH that is the 4,252nd rarest Neymar spent $400,000 on them, Justin Bieber over $1M, Jimmy Fallon $600,000 and Post Malone $700,000. It’s got to be a high level money laundering scheme that us normal people aren’t involved in, it’s literally the only explanation. 0 Quote Link to comment Share on other sites More sharing options...
beefybake Posted June 17, 2022 Share Posted June 17, 2022 3 hours ago, Satoshi said: Just had a look there (dunno why I had forgotten to do in May) but my entire losses in this crypto winter were eclipsed by my monthly losses in the stock market. Puts it into perspective I guess. With a modest 3% equity increase I'll be able to make it to my ambitious savings target - provided I spend nothing and somehow make an extra £1400 a month Would need an 11% increase to stay close to my average monthly spending. More likely to drop another 11% than rise but always next year I guess My actual spending (and income) will remain totally unaffected. Meanwhile, away from your La La Land...... As of last night... https://www.theguardian.com/business/2022/jun/17/asia-markets-plunge-again-as-flurry-of-interest-rate-hikes-fuels-recession-fears "...The cryptocurrency rout also shows no sign of abating with bitcoin down 7.8% and ethereum 8.45% worse off. In addition, the Financial Times reported that the Singapore-based crypto hedge fund Three Arrows Capital – which has $10bn under management – failed to meet margin calls this week amid the slide in crypto values.". 1 Quote Link to comment Share on other sites More sharing options...
topcat(The most tip top) Posted June 17, 2022 Share Posted June 17, 2022 (edited) 28 minutes ago, IrishBhoy said: Apparently there is 10,000 of these ‘Bored Apes’ in circulation, somehow ranked by how rare they are. God knows how that works when there is only one of each ‘ape’. The NFT itself is a piece of text For example Bored Ape 1152 The "image" address ipfs://QmQsxRXfVxxC5k9Uo8U51QcBtiA6TNmHAenbPMar7vFZrt points to whatever server this image ... is stored on and the Clothes, Background, Fur, Eyes and Mouth will be the parameters used to generate the image. There might be other ones which match four of these attributes but there won't be another (Service, Purple, Dark Brown, Zombie, Bored Unshaven token) so it's unique. Presumably some Clothes, Background, Fur, Eyes and Mouths options are repeated less often which means if you've got the 5 rarest individual options then your token would be "rarest" Edited June 17, 2022 by topcat(The most tip top) 1 Quote Link to comment Share on other sites More sharing options...
101 Posted June 17, 2022 Share Posted June 17, 2022 1 hour ago, IrishBhoy said: Apparently there is 10,000 of these ‘Bored Apes’ in circulation, somehow ranked by how rare they are. God knows how that works when there is only one of each ‘ape’. I just went and googled to see who had bought the most of these NFTs and it’s mainly celebrities who are also multi-millionaires, so I can’t feel too sorry for them. Tom Brady acquired one for 133ETH that is the 4,252nd rarest Neymar spent $400,000 on them, Justin Bieber over $1M, Jimmy Fallon $600,000 and Post Malone $700,000. It’s got to be a high level money laundering scheme that us normal people aren’t involved in, it’s literally the only explanation. Kevin Nesbit was the only person I saw fawning over them, proof Hibs were paying him far too much. 1 Quote Link to comment Share on other sites More sharing options...
IrishBhoy Posted June 17, 2022 Share Posted June 17, 2022 4 minutes ago, 101 said: Kevin Nesbit was the only person I saw fawning over them, proof Hibs were paying him far too much. Kevin Nesbit must have been saving up his money since he was about 16, I don’t think any of them were acquired for less than $100,000 until a couple of days ago. 0 Quote Link to comment Share on other sites More sharing options...
DiegoDiego Posted June 17, 2022 Share Posted June 17, 2022 I just went and googled to see who had bought the most of these NFTs and it’s mainly celebrities who are also multi-millionaires, so I can’t feel too sorry for them.The people who've bought the most aren't celebrities, they generally just buy one. Celebrities are/were buying them for status and there are vastly diminishing returns on that front for every ape owned over one. 0 Quote Link to comment Share on other sites More sharing options...
topcat(The most tip top) Posted June 17, 2022 Share Posted June 17, 2022 34 minutes ago, IrishBhoy said: I just went and googled to see who had bought the most of these NFTs and it’s mainly celebrities who are also multi-millionaires, so I can’t feel too sorry for them. Tom Brady acquired one for 133ETH that is the 4,252nd rarest Neymar spent $400,000 on them, Justin Bieber over $1M, Jimmy Fallon $600,000 and Post Malone $700,000. It’s got to be a high level money laundering scheme that us normal people aren’t involved in, it’s literally the only explanation. Some of these stories may even be true After all Michael Jackson bought an actual Ape who presumably was frequently bored 0 Quote Link to comment Share on other sites More sharing options...
54_and_counting Posted June 17, 2022 Share Posted June 17, 2022 2 hours ago, IrishBhoy said: Apparently there is 10,000 of these ‘Bored Apes’ in circulation, somehow ranked by how rare they are. God knows how that works when there is only one of each ‘ape’. I just went and googled to see who had bought the most of these NFTs and it’s mainly celebrities who are also multi-millionaires, so I can’t feel too sorry for them. Tom Brady acquired one for 133ETH that is the 4,252nd rarest Neymar spent $400,000 on them, Justin Bieber over $1M, Jimmy Fallon $600,000 and Post Malone $700,000. It’s got to be a high level money laundering scheme that us normal people aren’t involved in, it’s literally the only explanation. Be a tax avoidance thing no doubt, but its fucking ridiculous 0 Quote Link to comment Share on other sites More sharing options...
54_and_counting Posted June 17, 2022 Share Posted June 17, 2022 2 hours ago, topcat(The most tip top) said: There’s going to be a certain amount of Conspicuous Consumption involved in gambling Being seen winning money in a casino makes you look like a winner, losing money in a casino and staying calm lets you show off how much you can “afford to lose”. Of course to others it’s hard to tell the difference between that and the person who’s putting a brave face on it or the person who is in denial. Theres the ones that will brag like f**k when they win, but never tell you their losses, can guarantee crypto is full of them "my crypto went up 5% the other day, oh yeah im making money" Without telling you that their crypto had dropped 40% leading up to the 5% rise 0 Quote Link to comment Share on other sites More sharing options...
IrishBhoy Posted June 17, 2022 Share Posted June 17, 2022 1 hour ago, 54_and_counting said: Theres the ones that will brag like f**k when they win, but never tell you their losses, can guarantee crypto is full of them "my crypto went up 5% the other day, oh yeah im making money" Without telling you that their crypto had dropped 40% leading up to the 5% rise Boy I work with thought he was Warren Buffet around this time last year when crypto was booming, if you ask him what his portfolio looks like now he says ‘I took it all out, I’m just going to keep buying until it goes up again’. Sound advice imo. 2 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted June 17, 2022 Share Posted June 17, 2022 2 hours ago, topcat(The most tip top) said: Some of these stories may even be true After all Michael Jackson bought an actual Ape who presumably was frequently bored Even getting blown by West Ham fans would get boring after a while. (I'll get my coat) 1 Quote Link to comment Share on other sites More sharing options...
54_and_counting Posted June 17, 2022 Share Posted June 17, 2022 3 minutes ago, IrishBhoy said: Boy I work with thought he was Warren Buffet around this time last year when crypto was booming, if you ask him what his portfolio looks like now he says ‘I took it all out, I’m just going to keep buying until it goes up again’. Sound advice imo. Aye the bookie gamblers were the worst "got 4 ton back on a treble tonight" till yoi find out they stuck 200 quid on an even money treble, then you ask to see their losing bets that week "ach ive only lost 20 quid here and there" lying c***s Btw this is coming from me whos now 3 year clear of gambling cause i used to hedge my weekly losses against one big monthly win, great winning it but fucking bricking it later in the month when you had fucked it all away, and yes before anyone asks, ive lost over my gambling time, never money needed for bills, but aye ive lost a fair wedge 0 Quote Link to comment Share on other sites More sharing options...
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