Why This Computer Scientist Says All Cryptocurrency Should “Die in a Fire”

[johnarb]

I'm with Newton and likewise I have acess 24/7. Although I can trade commission free there is still the spread which is in the 0.75% area. Also the trades are in $Cad so I eat the spread there also. I can move my BTC to a cold wallet so if I ever accumulate a significant amount I'll be doing that.
-----



I've had better and worse than that but on an average 25% is close. I spend a lot of what I make but a chart of my liquid networth climbs steadily without too much drawdown.

-------

I never heard of Newton. I also did not hear of Quadriga before it got hacked and shutdown...

When Cryptsy/Mintpal shutdown, I lost a few hundred $ worth of XMY because there were not many exchanges for Myriadcoin had left them there. Not my keys, not my coins

When Cryptopia shutdown, I lost maybe less than $10 worth of cryptos there. Not my keys, not my coins

Today, I have 1.5 BTC at Coinbase and Kraken, each. I divided the 3 BTC, by withdrawing 1.5 btc from Coinbase to local wallet then to Krakan, in multiple transfers, total cost of all transfers added to less than $1

Now, I doubled the surface risk of loss from an exchange shutting down (either Kraken or Coinbase) but lowered the risk of loss amount for each occurrence

---------

I have a slight OCD and noticed $500K you were referring to was different than $500K+ I was referring to. Anyway, I cashed out over $700K, and the cash is not gone even after paying taxes and all living expenses for over a year.

No house, no debt, Tesla is bought and paid for all cash so cash burn rate is not too high (all relative, of course, cannot compare to countries of lower cost of living)

 

[d08]

Hey virtusa-is-a-liar, my Russian cousins are ready to violate your asshole and your mouth, again teehheheheh

Bend over, virtusa-is-a-liar, the Russians are cumming. Don't worry, they add fries to your burgers, BWAHAHAHAHAHAHHAHAH

So this is ET these days. Totally normal phenomenon.

 

[d08]

Do I believe BTC will go up 2000% within 5 years? Yes

I'll just leave it here. I hope you won't weasel out of this.

 

[Nobert]

So this is ET these days. Totally normal phenomenon.

I logged out to see whom did you wrote and that which i seen cannot be unseen.
(laughs)

 

[johnarb]

I'll just leave it here. I hope you won't weasel out of this.

That convo is with deaddog

We have an existing agreement, d08, but you are obviously a man of little integrity trying to weasel out of it

Fucking pathetic

 

[virtusa]

So this is ET these days. Totally normal phenomenon.

What johnarb posted was to be expected, and confirms my analysis from his personality. Non educated and vulgar. Now with hard proof provided by himself.

Hey virtusa-is-a-liar, my Russian cousins are ready to violate your asshole and your mouth, again teehheheheh

Bend over, virtusa-is-a-liar, the Russians are cumming. Don't worry, they add fries to your burgers, BWAHAHAHAHAHAHHAHAH

 

[Pekelo]

Look what I wrote 2 months ago:

ATH is in for BTC. That means it may double the price but it won't Moon and gain gazillions. Forget about that. The shark has been jumped already.

There is literally no good reason anymore to use crypto when you have futures or ETF options for extra leverage...And no, crypto is not a hedge for inflation.

But even if he really, really want a crypto position, use BTC futures instead of actually owning crypto. At least he can do that using a real broker. They are already restricting withdrawals at crypto brokerages and funds can be held for bankruptcy proceedings. He can also sell options on a BTC futures, 2 months out a covered call position makes 17%. (it gives him that much protection/guaranteed profit.)

Selling CCs on a crypto position doesn't seem so bad right now... It made more than the promised DeFi returns. The price is exactly where it was at the end of June.

 

[d08]

That convo is with deaddog

We have an existing agreement, d08, but you are obviously a man of little integrity trying to weasel out of it

Fucking pathetic

View attachment 293005

I had forgotten about that, I didn't try to weasel out of it at all. Seems you have gone from bullish level predictions to bullshit level predictions in the meantime.

 

[virtusa]

Seems you have gone from bullish level predictions to bullshit level predictions in the meantime.

That's a disease that most crypto hodlers have. It is part of their identity.
Already a few years there are wild predictions about how fast crypto's will go to insane "values".

I read more and more comments that the "quick rich opportunities" are gone forever. Becoming millionaire or billionaire with a $500 "investment" will not work anymore.

 

[SunTrader]

What exactly does the U.S. Dollar produce, otherwise than diminishing value over its lifetime?

Does that stop the masses from holding them?