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Bitcoin, Cryptocurrency, Blockchain, and You: Navigating the Future of Tech (a NeoGAF discussion thread)

Porcile

Porcile

Member
Are we nearing a future where in games like Fifa people will own the exclusive crypto rights to players on their Ultimate Team? Seems like an inevitability. It is probably already being done somewhere right now I assume?
 
TBiddy

TBiddy

Member
Porcile said:
Are we nearing a future where in games like Fifa people will own the exclusive crypto rights to players on their Ultimate Team? Seems like an inevitability. It is probably already being done somewhere right now I assume?
Click to expand...

NBA is doing something like it, with their newest collectables.

www.nbatopshot.com

NBA Top Shot | Officially Licensed Digital Collectibles

OFFICIALLY LICENSED NBA COLLECTIBLES. Relive the Moments from your favorite players and teams. Collect iconic NBA highlights. Trade with NBA fans around the world.
www.nbatopshot.com www.nbatopshot.com
 
God Enel

God Enel

Member
What are your opinions of Tron? I wanna invest some spare money. Any tips?


What-Crypto-Investors-Really-Do-Crypto-Memes.jpg
 
Ascend

Ascend

Member
joe_zazen said:
ray dillinger, one of the guys that reviewed satoshi's code and white paper before release, calls bitcoin a disaster. (not a post to dump on btc investing, do what you want. it is, just a reflection on whether btc succeeded at what it set out to do).

https://www.metzdowd.com/pipermail/cryptography/2020-December/036510.html
Click to expand...
The majority of what is being said here is true.

Bitcoin can no longer be considered either anonymous or pseudonymous. It is a lot of work, but every transaction can be tracked. That being said, wrapped Bitcoin along with DeFi, can kind of throw that for a loop. But that's Ethereum being the savior of Bitcoin so to speak.

Exchanges currently functioning pretty much like banks is true. That's why it's important that the majority of your coins are off exchanges. I myself have 60% in a personal wallet, the rest in exchanges.

Fees are indeed too high for small transactions. But this is a side-effect of the dollar still being the primary payment method in the world. It's because the USD is so devalued, that everything becomes so expensive to transact on Bitcoin.

Mining as an idea of decentralization has indeed failed. But it still has its value like it is now. Normally, when newer companies start to become dangerous to larger ones, they simply buy up the smaller one. With Bitcoin, this doesn't work. Because if you buy it up, it simply does not work anymore. When anyone has 51% 'power' over the network, it means it is no longer safe to use, and everyone would abandon it. Who would pay a trillion dollars to control an asset that by buying it becomes worthless? Or realistically, to reach the 51%, who would pay half a trillion dollars? There are only 5 companies in the world that are worth more than BTC in market cap, and there are only 12 that could buy up half the Bitcoin market cap. To put this in perspective... If Google wanted to kill Bitcoin, they would have to invest 2/3 of their total value into Bitcoin, to then immediately lose it because the network no longer functions like it should.

Another way that it is not a failure is that it brought many ideas forward, in order to fix those exact problems. That's why there are privacy coins like Monero, Smart Contract coins like Ethereum, Proof of Stake coins like Cardano, DAOs like NAVCoin, low fee coins like Solana, decentralized exchanges like Uniswap and so on.
Maybe by itself it didn't achieve everything, but it did bring forth the basics for everything else... And, then there's this (amazing video);




God Enel said:
What are your opinions of Tron? I wanna invest some spare money. Any tips?


What-Crypto-Investors-Really-Do-Crypto-Memes.jpg
Click to expand...
I think this should answer your question;

 
joe_zazen

joe_zazen

Member
Ascend said:
The majority of what is being said here is true.

Bitcoin can no longer be considered either anonymous or pseudonymous. It is a lot of work, but every transaction can be tracked. That being said, wrapped Bitcoin along with DeFi, can kind of throw that for a loop. But that's Ethereum being the savior of Bitcoin so to speak.

Exchanges currently functioning pretty much like banks is true. That's why it's important that the majority of your coins are off exchanges. I myself have 60% in a personal wallet, the rest in exchanges.

Fees are indeed too high for small transactions. But this is a side-effect of the dollar still being the primary payment method in the world. It's because the USD is so devalued, that everything becomes so expensive to transact on Bitcoin.

Mining as an idea of decentralization has indeed failed. But it still has its value like it is now. Normally, when newer companies start to become dangerous to larger ones, they simply buy up the smaller one. With Bitcoin, this doesn't work. Because if you buy it up, it simply does not work anymore. When anyone has 51% 'power' over the network, it means it is no longer safe to use, and everyone would abandon it. Who would pay a trillion dollars to control an asset that by buying it becomes worthless? Or realistically, to reach the 51%, who would pay half a trillion dollars? There are only 5 companies in the world that are worth more than BTC in market cap, and there are only 12 that could buy up half the Bitcoin market cap. To put this in perspective... If Google wanted to kill Bitcoin, they would have to invest 2/3 of their total value into Bitcoin, to then immediately lose it because the network no longer functions like it should.

Another way that it is not a failure is that it brought many ideas forward, in order to fix those exact problems. That's why there are privacy coins like Monero, Smart Contract coins like Ethereum, Proof of Stake coins like Cardano, DAOs like NAVCoin, low fee coins like Solana, decentralized exchanges like Uniswap and so on.
Maybe by itself it didn't achieve everything, but it did bring forth the basics for everything else... And, then there's this (amazing video);





I think this should answer your question;

Click to expand...


that is a great vid. I hope things work out for the best, but what happened to Assange has embittered me and made me a pessimist. Hope I am wrong, and defi is a democratizing force for freedom. My long term view is that BTC and friends will be replaced with a US govt version, a Chinese govt version, etc. Oligarchs gonna oligarch.
 
Belmonte

Belmonte

Member
Today was not a good day for the S&P500 but it seems it didn't affected the BC price like last week. Anyone knows the reason?
 
Wandering Leopard

Wandering Leopard

Member
I'm trying to think of reasons not to buy (at least a little) Ethereum, I keep reading how it could be primed for something big because of the anticipated July update.

As i'm coming up empty on reasons not to go for it, I'll likely cave and get some next week :/
 
Last edited:
Bunker Hosted

Bunker Hosted

Member
Belmonte said:
Today was not a good day for the S&P500 but it seems it didn't affected the BC price like last week. Anyone knows the reason?
Click to expand...
As much as it may seem, the markets are actually not correlated; This is the major reason why
God Enel said:
What are your opinions of Tron? I wanna invest some spare money. Any tips?


What-Crypto-Investors-Really-Do-Crypto-Memes.jpg
Click to expand...
When someone catches a video of the "owner" of Tron, at a club, literally saying: "Buy my shit coin" that is more than enough reasons for me not to look at Tron, Justin Sun is.............. I've got no nice words

 
gradient

gradient

Resident Cheap Arse
Wandering Leopard said:
I'm trying to think of reasons not to buy (at least a little) Ethereum, I keep reading how it could be primed for something big because of the anticipated July update.

As i'm coming up empty on reasons not to go for it, I'll likely cave and get some next week :/
Click to expand...

If you have money you can afford to lose then by all means go for it.

The recent changes that have been passed have led to a lot of speculation over possible rises and potential price points, but it is all just speculation. It's fairly certain that it will rise until the fall but there's likely going to be some dips in between that'll scare the market. The market as a whole is on a bull run which means it's not the ideal time to buy, but if you're in it for the long run and can afford to lose the money then it's a fair punt.

Full disclosure - I have a little Eth and other Crypto however not a large amount and I am comfortable with losing the value and holding long (years) if the gamble doesn't pay off.
 
Bit_Reactor

Bit_Reactor

Member
Lol I put money into ETH to make sure I knew how to post NFT art and now I can't take down my piece because the price went up since I bought my first round and they expect me to pay to take it down. @_@

Still though I'm seeing artists making....crazy amounts of money off of this and trying to figure out if it's not just the mantra of "tech bros Mary Kay getting more people on the pyramid and hooking them on the crack with big gains in the beginning" or if it's really something that's beneficial to the art world.

Tons of people talk about no middle men and other things when it comes to crypto but with crypto almost everything seems to be set up specifically to be a middle man.

Charge to post, charge to invest, charge to charge, charge to change prices, charge to do this, it just seems like it's all worthless unless you are a big name or have an "in" with people already. :(

I want to like the idea of this, but I'm already sick and tired of GPU scalping as is.
 
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I

infinitys_7th

Member
I'm just starting out on treating crypto seriously. Before I started investing, I picked three broad groups of coins which seemed worthy of investment and would be diversified - currency replacements, smart contract and utilities, and financial service-oriented coins. Based off of this, I've put around $3200 into Bitcoin, Ethereum, and Algorand starting in December (Just started buying Algorand in the past couples weeks after looking at alternatives). So far I'm up to almost $5000 in total value overall on that.

My gains in just a few months make me feel kind of confident, but I've seen the large volatility across all three coins and definitely got lucky on when I bought in. But I think Ethereum and Algorand have obvious uses, particularly Ethereum with its broad range of applications. I've had some passing thoughts about moving >$15k I have in an emergency fund from a (formerly) high interest checking account I had into Algorand for the 7% APY from staking, but I am no where near comfortable or knowledgable enough to drop that much money in it yet. About $5k is all I can see putting in until I feel like I have a solid grasp.

Looking forward to getting my stimulus to turn it into some more crypto though and diving into this more. I wish I had started doing this years ago, but maybe the train hasn't totally left the station.
 
{insert code here}

{insert code here}

Member
infinitys_7th said:
I'm just starting out on treating crypto seriously. Before I started investing, I picked three broad groups of coins which seemed worthy of investment and would be diversified - currency replacements, smart contract and utilities, and financial service-oriented coins. Based off of this, I've put around $3200 into Bitcoin, Ethereum, and Algorand starting in December (Just started buying Algorand in the past couples weeks after looking at alternatives). So far I'm up to almost $5000 in total value overall on that.

My gains in just a few months make me feel kind of confident, but I've seen the large volatility across all three coins and definitely got lucky on when I bought in. But I think Ethereum and Algorand have obvious uses, particularly Ethereum with its broad range of applications. I've had some passing thoughts about moving >$15k I have in an emergency fund from a (formerly) high interest checking account I had into Algorand for the 7% APY from staking, but I am no where near comfortable or knowledgable enough to drop that much money in it yet. About $5k is all I can see putting in until I feel like I have a solid grasp.

Looking forward to getting my stimulus to turn it into some more crypto though and diving into this more. I wish I had started doing this years ago, but maybe the train hasn't totally left the station.
Click to expand...

You could take that 15k and convert into a stable coin. Coinbase let's you withdraw from a bank account into USDC with zero fees. 10k USD gets you 10k USDC. You can then transfer your USDC out of coinbase into something like crypto.com or blockfi where you earn 6+% interest. Your only cost is the ethereum transaction fee which was about 8 bucks two weeks ago. Once your funds clear on Coinbase, about 5 days (banks are slow AF) , the whole process of transferring and then staking took about 5 minutes. I did this a couple weeks ago to move money from my 0.3% interest bank account to a 12% interest rate on CDC.

I receive more interest in two weeks than I would in an entire year if I had left that fiat rotting in the bank.
 
Last edited:
gradient

gradient

Resident Cheap Arse
{insert code here} said:
You could take that 15k and convert into a stable coin. Coinbase let's you withdraw from a bank account into USDC with zero fees. Zero. 10k USD gets you 10k USDC straight up. You can then transfer your USDC out of coinbase into something like crypto.com or blockfi where you earn 6+% interest. Your only cost is the ethereum transaction fee which was about 8 bucks two weeks ago. Once your funds clear on Coinbase, about 5 days (banks are slow AF) , the whole process of transferring and then staking took about 5 minutes. I did this a couple weeks ago to move money from my 0.3% interest bank account to a 12% interest rate on CDC.

I receive more interest in two weeks than I would in an entire year if I had left that fiat rotting in the bank.
Click to expand...

Just going to add that doing this does put your funds at risk as they won't have the same financial protections that they would in a bank. If the market takes a bad hit, there is misbehaviour in the part of whatever service you're using to stake, or if the service is mis-managed or caught off guard and over-extended then you stand to lose some or all of your money.

If for example Cryto.com blows up or does a runner then you're screwed. No protections, no comeback.

As with most things investment - spread. Spread your risk across multiple platforms and be aware that you are forfeiting security for gain even in so-called "safe" options like staking on sites like these.
 
{insert code here}

{insert code here}

Member
www.crowdfundinsider.com

Grayscale Adds Five New Digital Asset Offerings

Grayscale has announced five new digital asset offerings, available only to accredited investors, outlined as follows: Grayscale Basic Attention Token Trust (BAT): BAT serves as the native digital currency for Brave Grayscale Chainlink Trust (LINK): Chainlink is a decentralized network aimed to...
www.crowdfundinsider.com www.crowdfundinsider.com

Haha so this is why my BAT tokens have been pumping hard. I wonder how this affects the token rewards from the brave browser. My February and March rewards are worth like 30$ now.
 
Ascend

Ascend

Member
{insert code here} said:
Wow DXY is dumping hard. Bitcoin pumping. Thank you Federal Reserve.
Click to expand...
I was initially thinking that we might reach a market cycle top around May... But right now I'm thinking we're gonna reach a temporary mid-cycle top around May, have a huge shake-out (think 50% drop or more), and then another blast-off...

There are so many signs indicating that we still have a long while to go... It might change rapidly if we moon too quickly, but that we've stayed between 50k and 60k for a while is a good thing, and the amount of people Googling Bitcoin is still nowhere near 2017 levels...
 
Bunker Hosted

Bunker Hosted

Member
gradient said:
Just going to add that doing this does put your funds at risk as they won't have the same financial protections that they would in a bank. If the market takes a bad hit, there is misbehaviour in the part of whatever service you're using to stake, or if the service is mis-managed or caught off guard and over-extended then you stand to lose some or all of your money.

If for example Cryto.com blows up or does a runner then you're screwed. No protections, no comeback.

As with most things investment - spread. Spread your risk across multiple platforms and be aware that you are forfeiting security for gain even in so-called "safe" options like staking on sites like these.
Click to expand...
This is a half true statement; With something like BlockFi, yes there is risk as they are lending your crypto and it is not FDIC insured.

If you look at other platforms, voyager for example; offers an even higher interest rate than BlockFi on USDC. BlockFi offers 8.6% APY and not FDIC insured, where voyager offers 9% APY and IS FDIC insured upto 250,000$. This is the exact same as a bank, except they actually give you some return on your capital.
 
Belmonte

Belmonte

Member
Anyone here is buying/selling NFTs? I made my first one on Rarible and was shocked how expensive it is to put the image on the site. Do you guys have any recommendation of best sites to sell, best sellable themes and how to properly do marketing for this stuff? I confess I'm kind of lost about it. Seems so random. Some very simple images gets a lot of bids and some others, none. The fees are too expensive for a third world dude like me so I need to be very careful with which illustration I send.

Here is the link of my NFT , "Pin-Up Sofa" if anyone is interested or want to give feedback:

https://rarible.com/token/0x60f8012...d5f7468ff7b0a01326a9c5e46c19d267e?tab=details
 
Ascend

Ascend

Member
Belmonte said:
Anyone here is buying/selling NFTs? I made my first one on Rarible and was shocked how expensive it is to put the image on the site. Do you guys have any recommendation of best sites to sell, best sellable themes and how to properly do marketing for this stuff? I confess I'm kind of lost about it. Seems so random. Some very simple images gets a lot of bids and some others, none. The fees are too expensive for a third world dude like me so I need to be very careful with which illustration I send.

Here is the link of my NFT , "Pin-Up Sofa" if anyone is interested or want to give feedback:

https://rarible.com/token/0x60f8012...d5f7468ff7b0a01326a9c5e46c19d267e?tab=details
Click to expand...
I'm staying away from NFTs for now. It has a very similar hype as ICOs last market cycle, and a bunch of people got burned.
 
raduque

raduque

Member
So back in late 2016 I mined some Eth for a couple months on my r9 280x. I should've done it with my rx580 after I got it in 2017, but too late now. Anyway, I found my old ether wallet and I had $90 of Eth in there. Not bad. Should I buy some Bitcoin, or just hold onto the Eth?
 
Wandering Leopard

Wandering Leopard

Member
raduque said:
So back in late 2016 I mined some Eth for a couple months on my r9 280x. I should've done it with my rx580 after I got it in 2017, but too late now. Anyway, I found my old ether wallet and I had $90 of Eth in there. Not bad. Should I buy some Bitcoin, or just hold onto the Eth?
Click to expand...

I think most crypto YouTubers would say if you only wanted to hold one coin, btc is the only relatively 'safe' choice.

My opinion - as a random stranger on the internet - is that Ethereum could go a lot higher, the July update is expected to fix a lot of Eth's main problems so it could go much higher than it's ever been.
 
Hnjohngalt

Hnjohngalt

Member
Some expectations are 6k on Eth. Yet i think 4k is more likely by end of year. I would trade it to BTC or ETH2 when it comes out. But im no financial guru.
 
Hnjohngalt

Hnjohngalt

Member
I heard on a video the update fixed limit issues on mining. It negated previous update that limited mining hash rate. So im guessing its all good now. Hence reason why cards are still.so.expensive.
 
Bunker Hosted

Bunker Hosted

Member
Hnjohngalt said:
Some expectations are 6k on Eth. Yet i think 4k is more likely by end of year. I would trade it to BTC or ETH2 when it comes out. But im no financial guru.
Click to expand...
Just for some background, the ETH2 you see on Coinbase is still ETH. When the transition happens, it will still be just ETH and not ETH2. With that being said, we will likely see the same thing that happened with Ethereum classic. Its highly likely when full ETH 2.0 gets launched that miners will be upset and do a hard fork trying to keep the proof of work chain alive because that's how they make their money and with full ETH 2.0, mining will be gone. That, or they will all transition to mining Ethereum classic; tough to say what is going to happen but it will be a hell of a show!
 
Synless

Synless

Member
Bunker Hosted said:
Just for some background, the ETH2 you see on Coinbase is still ETH. When the transition happens, it will still be just ETH and not ETH2. With that being said, we will likely see the same thing that happened with Ethereum classic. Its highly likely when full ETH 2.0 gets launched that miners will be upset and do a hard fork trying to keep the proof of work chain alive because that's how they make their money and with full ETH 2.0, mining will be gone. That, or they will all transition to mining Ethereum classic; tough to say what is going to happen but it will be a hell of a show!
Click to expand...
So I have some ETH, do we know how the transfer from eth to eth2 will work?
 
ThatStupidLion

ThatStupidLion

Member
Synless said:
So I have some ETH, do we know how the transfer from eth to eth2 will work?
Click to expand...

I don't think we are going to get any new token...eth will still be eth. it will just exist on the beacon chain along with the shards - now what Bunker Hosted alluded to about someone hardforking a new token to maintain the POW eth, I could see happening.
 
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