The Crypto Thread

I hate to be the “both sides” guy, but ppl losing their cool has just been silly.

Keep the vibes Beetlejuice has going

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Would you please quit fucking around with Riverman’s avatar? I got almost to the end of this post before I realized it wasn’t Riverman, steadily more confused as I read.

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Meb owns that token 🤷

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If you’re going to lump all of us skeptics in with the drive by posters, then you need to look at your own posters who start launching personal attacks out of the blue. I’ve been called broke, old, and stupid a bunch of times. And for some reason Wichita DM is obsessed with denigrating my (relatively modest) stonk gains.

If you go back and read all my posts, I never said any lol crypto. I just want to have a legitimate discussion and be the Larry David/grumpy uncle of the thread basically. Yeah I’m going to lol at the crazy scammy shit that revolves around crypto. Which everyone else does too. But people get PISSED when I do it. The biggest personal attacks I’ve gotten itt is when I posted a poll asking how many people have cashed out a % of their winnings (which seems telling imo), and a few days ago when I just wanted to discuss the crazy social engineering scam.

I already walk on eggshells itt and don’t even try to point out similarities to past bubbles/manias. Because that seems to set people off big time. I never posted that line goes up video because I knew everyone would flip out. But I did want to discuss it once it was posted, because I want to hear both sides. I got the hater take, now I’d love to hear a rebuttal - not that I expect anyone to do all that work. Just saying if it happens in chunks, which it has on a few of the topics, that’s great.

And then at the end everyone agrees yeah there’s a good chance most of this stuff is going to zero and lol yeah a ton of it is a scam. But they just don’t like my tone, or something.

I LOLed at that part.

Get your bankroll in ethereum in a metamask wallet is step 1. That’s like funding your pokerstars account. Then start looking around NFT twitter for stuff you like.

Browse opensea.io, superrare.com and niftygateway.com and make a shortlist of stuff you like. But don’t buy anything yet, come back here or ask the guys in the discord sbout your picks before you start buying stuff

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Thank you! I figured out metamask wallet is what I want. I am now in the discord and going through tons of info there. Everyone seems very welcoming, which is awesome.

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“ If you’re constantly hearing people tell you that you’re going to regret not getting in early, that’s your number one sign that getting in late is a trap. You have to ask: What are the power dynamics of a system like that?”

I don’t remember there being quite the same sales job to get more and more and more pros into online poker.

The best poker pro situation is a bunch of fish and as few sharks as possible. The best crypto bro situation is the whole world buying crypto after I do - doesn’t seem to matter if they’re sharks or fish.

Also for this to be a 1-1 analogy there would have to be a huge class of people who lose money at NFTs as a diversionary hobby where they occasionally win - year after year after year. My assumption is that losing money at NFTs isn’t going to be that fun after a few years, and it won’t have the staying power of poker. I could be wrong, we’ll find out.

Lol it is indeed a ton like poker. Rampant scamming, the absolute worst people ever getting away with all the fraud, glamorous public image masking incredible shadiness, widespread arrogance among people running hot, extreme defensiveness, looming regulation, on and on and on.

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“Losing money at NFTs” = collecting pieces of art/culture

You don’t say you lose money buying movie tickets or video games, because you get something. The whales are huge winners in this game, they get to own the artifacts. Poker whales lose and get mocked for being dumb, it’s so much bigger than poker ever could be

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Im not really on either side here, but you cant sell either of these things for a profit. And Id say the split of “people who want to buy an NFT and hold onto it forever” and “people who want to buy an NFT and sell it for as much as possible later” is like 1-99

The discord is a really great resource, welcome!

I mean, thats a bit anecdotal. How do you know that people buying them from you weren’t then looking to sell them for even more?

I think you’re missing on a lot of really bad things about the poker gold rush. The vast vast majority of people weren’t profitable over any sort of long term. There were massive scams. It’s a really bad example tbh, and not one that I think is particularly fair to crypto.

Not quite though? Guy Laliberte funded high stakes poker by himself for like 5 years.

You really only need a few whales at most to prop up an economy.
Dingaling did more for topshot than 50,000 “normal” users did.

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Nah, you’re way underestimating the amount of people who lost money playing poker. Any moron just signing up and buying some bitcoin and holding for a bit has a decent chance of being positive. probably 80-85% people depositing on a poker site would lose all of that in a year.

You could make a living at SNGs just by studying SNG Wiz and maybe hiring a few coaches as you went up levels. I am very very bad at many poker hard skills and all of the soft skills, and I still made a living at it right up until Black Friday.

This is one thing I wonder about NFTs. If they do crash, it wouldn’t be like BTC where you can watch the ticker and see the price drop by the minute. It would be like houses - where one day there just aren’t as many buyers, and slowly sellers have to start lowering their prices.

Also with NFTs the big holders could also throw in some high profile wash sales to make it seem like the market is still healthy, trying to keep the music playing for as long as possible.

Are those correct assumptions or is there something I’m missing about NFT price opacity/discovery?

It’s definitely a case more for Goofy, Beetlejuice and anyone else helping more than NFTs in general. How many people could have made money without aid from others here? Likely very few. It’s great everyone is helping out, a fantastic resource. But, that’s not available to most people.