What's Up With Crypto? 3 3

[GoldFinger1969]

On 1/4/2023 at 7:11 AM, ShelHarby said:

There are only so-called cryptocurrency exchanges where all transactions with this type of asset occur. However, these structures cannot influence the rate of this cryptocurrency. Based on this, it is wrong to say that bitcoin is a scam.

Yes, I think most people understand that what happened with FTX and SBF was fraud and could have happened with ANY asset class.  The fact that it happened with an unregulated, uncharacterized coin/token/security/commodity is irrelevant.

In theory, co-mingling and fraud/theft can happen with blue-chip dividend-paying stocks. 

But it doesn't...... 

[Just Bob]

On 1/4/2023 at 9:17 AM, GoldFinger1969 said:

Yes, I think most people understand that what happened with FTX and SBF was fraud and could have happened with ANY asset class.  The fact that it happened with an unregulated, uncharacterized coin/token/security/commodity is irrelevant.

In theory, co-mingling and fraud/theft can happen with blue-chip dividend-paying stocks. 

But it doesn't...... 

Just so you know: Whenever you respond to a new poster who includes a link to a website related to the subject matter, you are almost always responding to a spammer or spambot. Chances are that they will never respond, or even return to the thread, since the only reason for their post is to attract clicks to the linked site.

[GoldFinger1969]

On 1/6/2023 at 9:52 AM, Just Bob said:

Just so you know: Whenever you respond to a new poster who includes a link to a website related to the subject matter, you are almost always responding to a spammer or spambot. Chances are that they will never respond, or even return to the thread, since the only reason for their post is to attract clicks to the linked site.

Thanks Bob.....I'm not sure WHEN in this thread that occurred, but even spamsters here can start useful/relevant threads.

This thread is of interest to the NGC Forum people....and as crypto is competition for gold, it's relevant, too.

Thanks for your feedback !  

[GoldFinger1969]

Oh I see...it was ShelHarby.....yeah, I didn't notice the link, Bob. 

Actually, her post had some good points but again it doesn't matter since this isn't a debate on crypto or BitCoin...but on fraud committed by Alameda, FTX, and SBF.  

Edited January 6, 2023 by GoldFinger1969

[Noned]

Cryptocurrency transactions usually take place on a decentralized network, which allows users to send funds without intermediaries such as banks or financial institutions. Go to https://ka.app/ which is a peer-to-peer cryptocurrency payment app that allows users to send cryptocurrencies directly to another user's digital wallet address.

[Henri Charriere]

On 8/11/2023 at 5:07 AM, Noned said:

Cryptocurrency transactions usually take place on a decentralized network, which allows users to send funds without intermediaries such as banks or financial institutions.

"...without intermediaries such as banks or financial institutions," and presumably Federal regulatory agencies like the S.E.C.  Since the dawn of civilization, cavemen and cavewomen have managed to get along just fine without non-tangible soft assets. Incidentally, if something goes wrong, I can walk into any bank branch and speak to a platform assistant. Who do you go see when your ka.app goes kaput?

[GoldFinger1969]

On 8/11/2023 at 9:53 AM, Henri Charriere said:

"...without intermediaries such as banks or financial institutions," and presumably Federal regulatory agencies like the S.E.C.  Since the dawn of civilization, cavemen and cavewomen have managed to get along just fine without non-tangible soft assets. Incidentally, if something goes wrong, I can walk into any bank branch and speak to a platform assistant. Who do you go see when your ka.app goes kaput?

Spammer...ignore. 

[Henri Charriere]

On 8/11/2023 at 3:48 PM, GoldFinger1969 said:

Spammer...ignore. 

It gives me great pleasure to inform the membership that Sam Bankman-Fried, the founder of FTX, until now grounded since December '22 to his parents' home in Palo Alto, CA. has had his bail revoked and ankle monitor removed earlier today, and ordered detained, by a Federal District Judge sitting in Manhattan, a development a paper of record in New York City characterized as the "latest extraordinary development in one of the most dramatic corporate implosions in recent memory."

Investors who were victimized by this scamster, and others of his ilk, may take comfort in the fact that truth stomped into the ground shall always rise again. Or put another way, "Yes, Virginia. There is a Santa Claus," and justice triumphs again.  [As the NYC MCC was closed following Epstein's death, it can safely be assumed this former crypto magnate, now defendant, full-time, has been ensconced at the MDC in Brooklyn, for the duration, preceding trial (or more likely, acquiescence to a plea deal) courtesy of the USMS and BOP].

Edited August 12, 2023 by Henri Charriere
Rewording.

[Henri Charriere]

On 1/6/2023 at 9:52 AM, Just Bob said:

Just so you know: Whenever you respond to a new poster who includes a link to a website related to the subject matter, you are almost always responding to a spammer or spambot. Chances are that they will never respond, or even return to the thread, since the only reason for their post is to attract clicks to the linked site.

In all fairness to you, I did not want you to report this guy, at least not until I had had the chance to investigate the site. As you may be aware, I was scammed by two different "dealers" on eBay who debited my card for the 2021 Centennial dollars, deleted their handles, and disappeared. On my screen, it was clear that the items I ordered were paid for, but shipping (and obviously delivery) was never attempted. Ebay was unhelpful and, writing to them directly, I was informed their eBay monikers no longer existed. While the transaction remains on "My eBay account," I was unable to locate the one bank statement I needed to prove my case. You live, you learn.

[VKurtB]

On 8/14/2023 at 8:34 PM, Henri Charriere said:

In all fairness to you, I did not want you to report this guy, at least not until I had had the chance to investigate the site. As you may be aware, I was scammed by two different "dealers" on eBay who debited my card for the 2021 Centennial dollars, deleted their handles, and disappeared. On my screen, it was clear that the items I ordered were paid for, but shipping (and obviously delivery) was never attempted. Ebay was unhelpful and, writing to them directly, I was informed their eBay monikers no longer existed. While the transaction remains on "My eBay account," I was unable to locate the one bank statement I needed to prove my case. You live, you learn.

eBay is becoming a sewer. 

[zadok]

On 8/15/2023 at 6:00 PM, VKurtB said:

eBay is becoming a sewer. 

...never a roto-rooter when u need one....

[GoldFinger1969]

On 8/15/2023 at 6:00 PM, VKurtB said:

eBay is becoming a sewer. 

Etsy might be worse.  And Craigslist is no great shakes, either. 

[Henri Charriere]

On 8/15/2023 at 8:19 PM, zadok said:

...never a roto-rooter when u need one....

Oh, it's you!  What a pleasant surprise!  While I appreciate the veiled references you've lobbed my way, I thought I would embellish your vocabulary with a few choice gems as a public service.  These include, in no particular order of intensity, codswallop, buffoonery, meshuggaas, tomfoolery, bosh, flapdoodle, folderol, monkeyshines, blatherskite, bunkum, poppycock, and my favorite, balderdash, which none of the papers I write to can seem to resist.  A parting word of advice... if you possess any aurum, refrain from discussing any concerns over possible confiscation i/f/o a live studio audience. I value your encyclopedic knowledge of numismatics and occasional lapses into autobiographical mode and appreciate your sincere comments about my compilation.

 

On 8/15/2023 at 6:00 PM, VKurtB said:

eBay is becoming a sewer. 

It became a sewer but the Ntional Register of Historic Places lists it as a cesspool.  They're not sure where to affix the plaque.  🤣

Edited August 16, 2023 by Henri Charriere
Amplification.

[VKurtB]

On 8/15/2023 at 7:45 PM, GoldFinger1969 said:

Etsy might be worse.  And Craigslist is no great shakes, either. 

Etsy IS worse. But that’s small comfort. Soon there will be NOWHERE online where ethics can survive. I had an IT instructor years ago (Windows NT Administration) who said presciently, “there is nothing worthwhile out there that the Internet will not eventually turn to s**t.” Note: Windows NT was distributed on CD media. 

Edited August 16, 2023 by VKurtB

[GoldFinger1969]

On 8/15/2023 at 11:11 PM, VKurtB said:

Etsy IS worse. But that’s small comfort. Soon there will be NOWHERE online where ethics can survive. I had an IT instructor years ago (Windows NT Administration) who said presciently, “there is nothing worthwhile out there that the Internet will not eventually turn to s**t.” Note: Windows NT was distributed on CD media. 

Look, if people are stupid and do NO RESEARCH, then they'd probably lose their money on Volcano Insurance* or some other scam. 

I saw it all the time -- people would research a microwave oven or an HDTV to death, but then move 6 or 7-figure sums of money into something without doing any DD.

* 

 

 

Edited August 16, 2023 by GoldFinger1969

[zadok]

On 8/16/2023 at 1:00 AM, GoldFinger1969 said:

Look, if people are stupid and do NO RESEARCH, then they'd probably lose their money on Volcano Insurance* or some other scam. 

I saw it all the time -- people would research a microwave oven or an HDTV to death, but then move 6 or 7-figure sums of money into something without doing any DD.

* 

 

 

...ur observations n vkurt's comments on the gullibility n human nature of the general populace accurately reflect the past n present n almost certainly the future of the world we live in, coupled with the ever increasing loss of personal integrity n general trend of acceptance for subterfuge the market place has become an arena of every person for themselves...numismatics is a very transparent window into that world...

...my personal take on personal economical due diligence in this country is that it has continued to collapse ever since the introduction of social security...

...another personal take is that if all of the wealth in this country was equally dispersed among the population that within a generation or two it would for the most part be back to where it started...

...my personal opinions n takes r worth approx the value of a Po-01 two cent pc....

[GoldFinger1969]

Crypto/Bitcoin seems to be trading inversely to interest rates lately.  When rates were super-low at the short and long-end, the opportunity cost was nil.

Now when you can get 5.4% on a 6-month T-Bill or 6-8% on bonds and bond funds....you have to consider the cost of buying a non-interest earning asset.

[ahmadus]

Just wanted to jump in and say that crypto is definitely a roller coaster. But despite all the ups and downs, I see immense potential and opportunities in the crypto space. It's like a treasure hunt, and with careful market monitoring and the right investment strategy and tools, there's a chance for some solid profits. Speaking of the right tools, I've recently been exploring ways to enhance my trading experience, and I stumbled upon the Immediate Edge platform. It's been a game-changer for me. The advanced technologies and features have helped me make more profitable transactions and boost my crypto income. So, it's crucial to develop the right approach to minimize risks. 

Edited September 11, 2023 by ahmadus

[VKurtB]

On 9/6/2023 at 8:43 AM, ahmadus said:

Just wanted to jump in and say that crypto is definitely a rollercoaster. But despite all the ups and downs, I see immense potential and opportunities in the crypto space. It's like a treasure hunt, and with careful market monitoring and the right investment strategy and tools, there's a chance for some solid profits.

I agree. That’s right. But aren’t there also “opportunities” to suffer horrendous losses, neither of which make sense?

[Henri Charriere]

Hot off CNBC.com...

"North Korean hackers have allegedly stolen hundreds of millions in crypto -- accounting for over 20% of all stolen crypto this year -- to fund nuclear programs."

[VKurtB]

On 9/7/2023 at 8:07 AM, Henri Charriere said:

Hot off CNBC.com...

"North Korean hackers have allegedly stolen hundreds of millions in crypto -- accounting for over 20% of all stolen crypto this year -- to fund nuclear programs."

Hmm, interesting, So if they buy nukes with artificial non-existent money, are they artificial non-existent nukes? 

[World Colonial]

On 8/29/2023 at 11:36 AM, GoldFinger1969 said:

Crypto/Bitcoin seems to be trading inversely to interest rates lately.  When rates were super-low at the short and long-end, the opportunity cost was nil.

Now when you can get 5.4% on a 6-month T-Bill or 6-8% on bonds and bond funds....you have to consider the cost of buying a non-interest earning asset.

Same thing could be said of gold, silver, or coins.

The difference though is that crypto is actually literally nothing.  

[World Colonial]

On 8/16/2023 at 9:20 AM, zadok said:

...my personal take on personal economical due diligence in this country is that it has continued to collapse ever since the introduction of social security...

I'd attribute it to the apparently more widespread belief that society won't let them financially fail.  The incentive structure incentivizes people to take big risks.  If you are a portfolio manager, it's not your money, so underperforming your benchmark means customer leave while there is "safety" in being wrong if this house of cards collapses.

At the individual level, it's even worse now after mortgage moratoriums, rent and student loan forbearance, and paying some people more not to work than when they were working.  It's completely insane.

There is a manic mentality that seemingly no matter what happens, the irresponsible should always expect to get bailed out.  The only thing that is going to change this widespread thinking is extended widespread actual austerity, not doing without something trivial like cable TV or a smart phone.

On 8/16/2023 at 9:20 AM, zadok said:

....another personal take is that if all of the wealth in this country was equally dispersed among the population that within a generation or two it would for the most part be back to where it started...

Read that too, and there is quite a bit of truth to it.

On 8/16/2023 at 9:20 AM, zadok said:

....my personal opinions n takes r worth approx the value of a Po-01 two cent pc....

Worth somewhat more than that

[Henri Charriere]

On 9/9/2023 at 4:08 PM, World Colonial said:

Same thing could be said of gold, silver, or coins.

The difference though is that crypto is actually literally nothing.  

Perhaps then, you can potentially save me a lot of time, trouble and expense if you would be so kind as to decipher the following overture I received yesterday from Heritage Auctions:  You are invited to a special State of the Market Commentary, Unlocking the Secrets of the World & Ancient Coins Market: What You Need to Know Now... [which includes the following reference, among others, to]... 2023 November 3.  THE OTAH COLLECTION OF PHYSICAL CRYPTOCURRENCY  PLATINUM SESSION AND SIGNATURE AUCTION  PART 1  3112.

---

[GoldFinger1969]

On 9/9/2023 at 4:08 PM, World Colonial said:

Same thing could be said of gold, silver, or coins. The difference though is that crypto is actually literally nothing.  

Yup.  At least I can hold a modern AGE or a Saint or Liberty or some other gold coin.  May turn out to be a bad investment....but like art on my wall, I get to enjoy it and show it to others and talk about it.

That's worth something -- to me, at least. 

[World Colonial]

On 9/9/2023 at 6:32 PM, Henri Charriere said:

• Previous Page
• Next Page

• Previous Page
• Next Page

Perhaps then, you can potentially save me a lot of time, trouble and expense if you would be so kind as to decipher the following overture I received yesterday from Heritage Auctions:  You are invited to a special State of the Market Commentary, Unlocking the Secrets of the World & Ancient Coins Market: What You Need to Know Now... [which includes the following reference, among others, to]... 2023 November 3.  THE OTAH COLLECTION OF PHYSICAL CRYPTOCURRENCY  PLATINUM SESSION AND SIGNATURE AUCTION  PART 1  3112.

---

• Previous Page
• Next Page

• Previous Page
• Next Page

Stacks conducts intermittent cryptocurrency auctions on their site too, though I wasn't aware of it by Heritage.  With the quick prior look I made of the Stack's listings, apparently, someone did create physical "coins" representing actual Bitcoin at minimum.  I haven't read up on it so can't provide any specifics, as I have zero interest in it.

I'd guess these physical versions might sell at nominal premiums to the electronic Bitcoin and higher premiums for those like XRP which last I checked were valued at less than $1.

Given the widespread use of "crypto", it's feasible for these physical representations to trade as a form of collectible, but to a point only.

A physical coin version of Bitcoin isn't interesting enough to sell at substantial premiums as a collectible longer-term, unless the supply is very limited or the underlying "currency" completely collapses.  At $25,000+ now, it's hopelessly uncompetitive as a collectible, except to financially motivated "widget" buyers which is speculation.

This should hardly be shocking to anyone who will evaluate the topic impartially.  The same principle applies to a lesser extent to NCLT (more so the bullion type collectible coins) and also somewhat to common pre-1933 US classic and most common "world" gold. 

It applies less to ASE and Morgan dollars despite the (likely) substantial financially related buying because most of these coins are a lot cheaper.

[samueldaisi]

This post caught my eye, and I decided to share my two cents. I'm still pretty new to the crypto world, but I've been trying to learn the trends and basic principles of trading. One thing that's become clear to me is the importance of thorough market analysis and developing an effective strategy before diving in. 

[VKurtB]

On 9/13/2023 at 3:23 AM, samueldaisi said:

This post caught my eye, and I decided to share my two cents. I'm still pretty new to the crypto world, but I've been trying to learn the trends and basic principles of trading. One thing that's become clear to me is the importance of thorough market analysis and developing an effective strategy before diving in. 

Are we talking “market analysis” based on drawing triangles and slope lines on graphs, aka “technical analysis”? Or are we talking about fundamental analysis? Oops, my error. There is no fundamental analysis when the asset is literally NOTHING. Crypto is a doctoral thesis in mass delusion waiting to be written.

The entire coin hobby is chock full of neurotics, psychotics, and those suffering from SEVERE DSM-V manual personality disorders, not to forget OCD sufferers and others on the autism spectrum. And those are the well-adjusted ones. We really don't need any more nuts from the crypto world. We're all full up here.

Edited September 13, 2023 by VKurtB

[GerardoMitchell]

Hey VKurtB, you're right; a lot of people in crypto rely on technical analysis like drawing triangles and slope lines. But there's also a growing group of people who do deep dives into what these projects actually aim to accomplish, focusing on things like utility, adoption, and governance. Even if you're skeptical about the inherent value of crypto, it's hard to ignore the potential of blockchain technology.

The world of crypto is evolving, and it's attracting more than just the "neurotics, psychotics," and the rest. New crypto listings from presales offer a glimpse into how sophisticated and varied the ecosystem is becoming. Some of these new projects are tackling real-world problems and have the backing of respected institutions and investors.

Edited October 6, 2023 by GerardoMitchell

[Henri Charriere]

I keep my money in money orders. I have yet to meet someone who has told me that's the most self-defeating concept they have ever heard.  They mention things like loss of buying power while engaging in gorging on their far superior conspicuous consumption sprees.

But then I think of the Hunt Brothers, Bernie Madoff, heavyweight fighters, drug kingpins doing LWOP, John Durst who never quite made it, some guy named Dupont--even Leona Helmsley.  Incidentally, How's that guy Murdaugh doing in South Carolina?

I have my U.S.P.S. money orders which boast no expiration date.  What have they, and millions of others got? I have yet to meet someone who can explain crypto currency in a literate penetrable semi-secret crypto-talk.  I am given to boasting my net worth is zero.  Nothing affects the quality of my life.  I do think about the disappearing Monarchs, the depletion of the world's oceans of fish by 90%, and melting of glaciers and both Poles.  But I am 72.  I'll let the whippersnappers attending the finest schools in the world, buried up to their eyeballs in student debt worry about meaningless things like what to have for lunch and who the next president of the United States ought to be. Luckily for me, I'm dead broke without a care in the world.  🤣

Edited October 2, 2023 by Henri Charriere
Routine editing.