I just bought over 12,000,000 crypto

#177
#177
its younger people day trading this ish. want to be artists from ny and ****. most coins are a ponzi, meaning only a few at the top control the value. when a whale cashes out...

what happens when multiple whales cash out?

in the mean time, i learned plumbers make 350$ a ****ing hour tonight. JFC.
 
#181
#181
Mose Phillip's Watch said:
What you have to realize 10 days ago it was stuck in the 20s
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No I mean for that hour it stopped at one amount and flat lined at that amount and dropping repeatedly over that period of time.. I watched it all day... But something was different that hour.. Look at the graph I posted again. Coinbase and coinbase pro both went down right after this as well. BTW.. I sold SHIB while it dropped then bought back in just to test my issue I asked about earlier.
 
#182
#182
IluvdoubleD's said:
its younger people day trading this ish. want to be artists from ny and ****. most coins are a ponzi, meaning only a few at the top control the value. when a whale cashes out...

what happens when multiple whales cash out?

in the mean time, i learned plumbers make 350$ a ****ing hour tonight. JFC.
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It's a trade most don't want to do... Prices will keep going up because people scared to get their hands dirty..
 
#184
#184
UTK said:
Dunno just bought 500,000 SHIB for the lolz
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ExcellentGrouchyBass-max-1mb.gif
 
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#186
#186
Thunder Good-Oil said:
There is no upper limit on how many new coins can be created. In the other hand, the entirety of the world’s known gold reserves could be stacked 3 or 4 feet high on a football field.
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Not true with Bitcoin. The design and algorithm caps the supply at 21 million. I think around 19 million are already in circulation, but with the increasing difficulty of solving/mining, it could take 100 years to complete the supply.

Shiba, I believe, started with 4 quadrillion. However, they are being continually burned, so I think there are now like 300 trillion.
 
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#187
#187
yeah, you kids are getting burned.

First off, some coins are capped, and some are unlimited. Secondly, gold has nothing to do with any of this.... at all. Third, the number of coins is in the billions.You have to have something that gives coins value. There has to be some WORTH behind it. Bit had no worth, you actually had to convert it to dollars before it had any worth at all. The dollar has worth because it is backed by the American people. It's backed by the goods and services that America produces. That's called the GDP. When your debt exceeds your GDP you're bankrupt. What gave Bit some worth, was when countries started allowing banking in digital coins, but still.... it has to be backed by real world currency.

What's happening is the west coast kids are creating these things, and the east coast kids are using it to promote themselves. A handful are getting rich as **** on the masses throwing their money at it, and then moving it to countries where they don't get taxed on it. It's a PONZI. You always know when one of the guys at the top decide to cash out... because the price plummets. Sometimes they cash out and buy back cheap.... because they control the value.

Now, not all coins are created equal. There are parent coins that are being used for goods and services. They are BACKED... like the dollar. They have the worth of goods and services produced. That's why the sudden throw in on certain coins.
 
#188
#188
ALSO, because I know someone will bring this up... when the GOV catches a criminal or criminal organization and retrieves their coins... that's also a whale cashing out.... which happens often.
 
#190
#190
kiddiedoc said:
Not true with Bitcoin. The design and algorithm caps the supply at 21 million. I think around 19 million are already in circulation, but with the increasing difficulty of solving/mining, it could take 100 years to complete the supply.

Shiba, I believe, started with 4 quadrillion. However, they are being continually burned, so I think there are now like 300 trillion.
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I didn’t say Bitcoin, I said “coins”. There are already thousands of different crypto names or “brands” and new ones are continuously being invented. Therefore the cap on coins is infinity. They also seem to be developing such that they can be readily swapped for any other names which makes the scarcity of any specific “brand” irrelevant.
 
#192
#192
IluvdoubleD's said:
ALSO, because I know someone will bring this up... when the GOV catches a criminal or criminal organization and retrieves their coins... that's also a whale cashing out.... which happens often.
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Link? I know it can happen and probably has but feels like I would have heard more if it were often. These criminal enterprises are just handing over keys to their crypto wallets? That's like saying they're telling the government where they buried the money. Doubtful that is happening often.
 
#193
#193
The definition of.

A Ponzi scheme is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. The scheme leads victims to believe that profits are coming from legitimate business activity, and they remain unaware that other investors are the source of funds.
 
#194
#194
If you didn't know the GOV was recouping from criminal activity, you haven't been paying attention. I just posted one today in the WTF story of the day thread. Your block chain leaves a trail... that's literally what it does. The gov just recouped 60 million from the russian mob for goodness sakes. pay attention:
 
#195
#195
IluvdoubleD's said:
The definition of.

A Ponzi scheme is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. The scheme leads victims to believe that profits are coming from legitimate business activity, and they remain unaware that other investors are the source of funds.
Click to expand...

There is legitimate business activity. You don't know who of those 10,000 investors are "early". You can sell your position. You can be way late and get into the party now, 12 years after the "scheme" started, and get out a month from now while profiting. Hell, some early investors lost. That's not how ponzi schemes work. If this is a ponzi scheme, then all publicly traded stocks fall under that umbrella.
 
#196
#196
IluvdoubleD's said:
If you didn't know the GOV was recouping from criminal activity, you haven't been paying attention. I just posted one today in the WTF story of the day thread. Your block chain leaves a trail... that's literally what it does. The gov just recouped 60 million from the russian mob for goodness sakes. pay attention:
Click to expand...

One story? Cool.
 
#197
#197
n_huffhines said:
There is legitimate business activity. You don't know who of those 10,000 investors are "early". You can sell your position. You can be way late and get into the party now, 12 years after the "scheme" started, and get out a month from now while profiting. Hell, some early investors lost. That's not how ponzi schemes work. If this is a ponzi scheme, then all publicly traded stocks fall under that umbrella.
Click to expand...

I think it’s more cornering the market. If you look at one currency as a market.
 
#198
#198
@IluvdoubleD's I went to the WTF thread and couldn't find the Russian mob story you were talking about. Do you have a link? I'd like to read about how they recovered the $60m
 
#200
#200
The feds seized $1B worth of BTC from the Silk Road case, but only because the guy who stole it from Silk Road cooperated with authorities.

Feds seize $1 billion in bitcoins they say were stolen from Silk Road - CNN

I'm pretty sure they gotta find the key or get cooperation. It's not just a matter of following the $ to the wallet. I could be wrong, but I feel like it would be big news if the government actually hacked a wallet.
 
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