It totally is a multi-generational bubble that’s going to pop someday.
Can I get some updates on stuff I remember from last time I was in the discord?
-Pak cube (was initially a $1K investment?)
-Josh buying low serial top shots and lebrons.
-The DraftKings drops
-Meebits or some shit?
Pak cube - current floor is $18k, but discord has lost faith in pak being a genius after his latest drop was completely bungled but still profitable at least. Also there has been zero follow through on multiple items, but his latest drop brought in about 1/4 Billion at launch. So who’s really the genius?
Josh has basically sold out of Lebron Topshot moments
DraftKings drops were always just a quick flip for us
Not sure about meebits
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5.6 ETH floor
Dunno but lol NBATS. Should ask @wheatrich about the Ballerz on Dapper tho.
Recent Brady mystery box for $80 was an easy $240 flip, more if you held I think. Vig is insane at 15% though.
~4 ETH floor
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The cube 18xing has made me lose all faith in humanity.
it was over 30k for a while.
Compared to a fucking WHITE DOT I paid hundreds of dollars for, the cube seems pretty amazing. Anchor and adjustment.
So again, despite previous comments, all you are talking about is Bitcoin. And despite weeks of back and forth you still refuse to understand that over 60% of what is happening with cryptocurrencies and blockchains has absolutely nothing to do with Bitcoin. You are insisting that an entire ecosystem with a current market cap of 2.5 trillion dollars is a bubble by pointing to just one asset within it - one whose relative share has been steadily declining for many years and in just the past 2 months has lost 35% of its value. That is a nonsense statement.
You keep getting people arguing with you because you keep making authoritative statements about something you clearly do not understand. I don’t mean you don’t understand the technical bits of proof of stake sharding or whatever, I mean you truly do not understand the fundamental nature of what everybody else is discussing. You think you do, but you don’t.
I will try one more time to help you understand. Please try to meet me half way and see if you can expand your knowledge.
There is a blockchain called Ethereum. In addition to being a distributed ledger, it is also functions as a globally shared runtime environment for executing simple programs called smart contracts. These smart contracts can be used to build distributed applications (Dapp’s) which provide further functionality to end users while not being owned or controlled by anybody.
None of this has anything to do with Bitcoin. The native token used on the chain for transactions is Ether. It currently has a market cap of $400 billion and its share of the crypto universe has been steadily increasing for years while Bitcoin’s has been declining.
Ethereum is wildly popular and successful. It has become very congested and expensive to use. The congestion isn’t from people using Ether as a currency or as a speculative investment. It is congested because too many people are using it as a platform for smart contracts and Dapp’s. It has succeeded on its own terms, providing real value to people who want to use it exactly as it was intended to be used.
Ethereum’s success and subsequent congestion and expense have led to other smart contract-capable blockchains experiencing dramatic growth. One of them is the Binance Smart Chain, which has become very active with many projects built on it in the past year. Its native token has an $80 billion market cap, the third largest.
There are others as well with large market caps and a growing number of hosted projects. Solana - $46 billion. Avalanche - $22 billion. There are also Layer 2 blockchains that operate on top or along side of Layer 1 chains to provide additional functionality and throughput. Polkadot - $27 billion. Polygon - $17 billion. There’s a couple hundred billion worth of fiat-pegged stablecoins that function solely as currency. There are support platforms that provide additional services, like Chainlink’s ($11 billion) oracle being an authoritative source of off-chain information for smart contracts. There are decentralized exchanges like Uniswap ($10 billion) that use their own tokens for transactions.
None of this has anything to do with Bitcoin.
These platforms now make up the majority of the transactions and value of the crypto world, while Bitcoin’s share of it continues to decline. These aren’t hypothetical or niche uses. They are already successful and dominant. It has already happened.
One role Bitcoin does fill is providing an on ramp for many people to discover all the projects that have real uses and value. It’s useful as a gateway coin. It will also probably continue to exist as a slightly broken currency and store of value and speculative investment all at the same time, simply based on inertia. But if you continue to think BTC === Cryptocurrency === Blockchain then you have a fundamental misunderstanding of what’s actually going on. You’re completely missing where the majority of the real action and potential is.
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word salad amirite
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Dude. Can we stop this? I’m specifically talking about the crypto-related things with all the hype around them, not the whole ecosystem. I never once said blockchain is bogus or a fad that will die out. That’s your bugaboo that you keep trying to put on me.
Really seems like you guys are talking past each other. I think there’s broad agreement here that there’s interesting and transformative stuff going on in the crypto sphere? Don’t think anyone here disagrees with that? Can we also agree that there’s a great deal of speculative bubbles blowing up and popping and lots of unsophisticated investors throwing money at dubious assets?
The comparison with the dotcom boom seems apt. It was obvious at the time that shmucks were throwing their money at badly overvalued websites. It was also pretty clear that this internet thing was going to be a very big thing.
Calling BTC a “multi-generational bubble” seems like a handwave. If the music doesn’t stop until after I die, that’s a pretty solid investment, no? At some point the bubble does have to pop or it isn’t really a bubble. But also calling it a “gateway coin” sure seems absurd. After ten years of enduring crypto dudes telling me all the amazing revolutionary things Bitcoin will do, I’m now told the real value is that it points people to the crypto projects that are actually useful?
FWIW I called capitalism a multi-generational bubble, not BTC.
I’m going to need you to fill out a 20-part essay-response question on LIBOR rates before I let you make comments like that.
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if i had known he got them for free i wouldn’t have bought. cant believe i paid 2700 dollars on something josh got for free 
I don’t think josh got any for free - if that makes you feel better.
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i am now a manks owner but the toxicity in the community drove me off. i still got hope for these.
Why are the mankes dressed like bellhops?
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