# Crypto Thread!



## davidnaroth (Apr 27, 2021)

I got into it (lightly) early this year, just curious if any other composers / musicians have invested into crypto. I've been treating it like any other type of investment, holding for long-term and DCA'ing when I can. As of now I'm mostly invested 60% ADA 30% ETH 10% other projects I believe will be a staple in the next 10 years. It's all super interesting to me, I think as the digital age progresses even further theres a place for it. but who knows haha. I have my ETFs to back me up if it fails.


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## iaink (Apr 27, 2021)

A post from 2019 predicting a BTC price of around $60k for today, in April 2021.


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## NoamL (Apr 27, 2021)

Don't take this the wrong way but "I have stocks as my safety investment in case crypto is too volatile" seems like a markets-about-to-pop sort of thing to say wouldn't you agree?  Not even stocks but ETF derivatives! But maybe I am out of touch... if the market keeps roaring forward for another 2 years you will probably make a good profit.


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## davidnaroth (Apr 27, 2021)

NoamL said:


> Don't take this the wrong way but "I have stocks as my safety investment in case crypto is too volatile" seems like a markets-about-to-pop sort of thing to say wouldn't you agree?  Not even stocks but ETF derivatives! But maybe I am out of touch... if the market keeps roaring forward for another 2 years you will probably make a good profit.


my investment lingo is pretty terrible lol I meant mutual funds not ETFs. I tend to avoid putting a lot into anything too risky, just a little here and there


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## tack (Apr 27, 2021)

Clicked onto the topic preparing for a fun nerdfest about cryptography only to find that, no, it's about cryptocurrency stocks. Alas.

Guess I'll go back to my boring ole globally diversified and risk appropriate portfolio of index funds now.


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## artomatic (Apr 27, 2021)

Doge. "To the moon!"
Almost pulled out last month but glad I HODLed!


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## Nico (Apr 27, 2021)

What about NFTs? Right now, everybody is talking about it for Graphic Arts but what about music? Has anyone here tried to release something as an NFT?


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## Llama Butter (Apr 28, 2021)

Nico said:


> What about NFTs? Right now, everybody is talking about it for Graphic Arts but what about music? Has anyone here tried to release something as an NFT?


I haven't but would be interested to.
Holly Herndon's podcast Interdependence has an episode with someone from zora, I super recommend the podcast and Holly Herndon in general. 

Here's a link to the episode


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## JeffvR (Apr 28, 2021)

Nico said:


> What about NFTs? Right now, everybody is talking about it for Graphic Arts but what about music? Has anyone here tried to release something as an NFT?


I did on opensea. So far no buyers or any bid. A lot of shit get's uploaded every second. So you have to find a way to stand out. So far I feel it's more for famous and established artists.


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## davidnaroth (Apr 29, 2021)

I tried making an NFT for the hell of it since I've been into graphic design since I was a teen, lost 100$ setting it up, lesson learned haha, Ill stick to music. I have a few friends who were commissioned to do music for video NFTs who made a decent amount when the NFT sold.


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## Tim_Wells (Apr 29, 2021)

Nico said:


> What about NFTs? Right now, everybody is talking about it for Graphic Arts but what about music? Has anyone here tried to release something as an NFT?


That's the real question! Depending on rough the implementation hurdles are, this could potential level the playing field for all digital musicians.
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Edit: I want to recant my naive statement above. When I made it over a year ago, I was hopeful that blockchain technology would be a way for musicians and other digital content creators to get paid fairly and retain their rights. As I said, it was naive. 

Though I still hope that someday, some viable, flexible technology comes along that protects creators. Something that's not DRM. 

As far as crypto currency as an investment goes, Warren Buffet is probably right. It's probably going to $0.00.


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## Adam Takacs (Jun 17, 2022)

Tim_Wells said:


> That's the real question! Depending on rough the implementation hurdles are, this could potential level the playing field for all digital musicians.


Hello! I minted a music NFT, it it pretty simple but if you want to listed and sell, it cost some money. (On the ETH chain at least) Listing this one would be 70$ now. So yes, you have to do investments and if you are an unknown composer it is very hard to sell your pieces. By the way, this one is on the Ethereum blockchain, you can also mint your pieces on Polygon which is free. (Minting and Listing too)



https://opensea.io/assets/ethereum/0x495f947276749ce646f68ac8c248420045cb7b5e/7306879354742968004900649748495836092420585661391012911633842755359211520001



Unfortunately, it is indeed true that a lot of content is posted that is artistically incomprehensible and has the sole purpose of generating ridiculously extreme revenue on the waves of that hype.
While NFT (Blockchain) technology itself is very forward-looking, unfortunately it is disappointing that the more valuable you try to create, the less interesting it will be in the marketplaces. The basic problem is that most people don't work for the development of technology by producing quality content, but seeing it as a cashcow.


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## Roger Newton (Jun 17, 2022)

davidnaroth said:


> I've been treating it like any other type of investment, holding for long-term and DCA'ing when I can.


That's all great but the first thing anyone must understand is crypto isn't an investment. It's not even backed by a promise. It's basically collecting tokens that have no intrinsic value, treating it like a chain letter, and then calling it an investment. It's a gamble. And some will make money at gambling, it's true.


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## David Cuny (Jun 17, 2022)

Adam Takacs said:


> While NFT (Blockchain) technology itself is very forward-looking, unfortunately it is disappointing that the more valuable you try to create, the less interesting it will be in the marketplaces.


Blockchain technology isn't forward looking, it's a 20+ year old idea. That's one of many reasons that it's described as a "solution in search of a problem".

The fact that the NFT marketplace doesn't value tokens based on any _intrinsic _value is a design feature, not a bug. The NFT and Bitcoin markets are designed to create value solely through scarcity. 

People who gamble in that market are following one assumption: the value of the digital token will always increase, because _someone will pay more than me for this_.

As Nicholas Weaver said: "The entire space is a self-assembled Ponzi scheme."


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## pinki (Jun 17, 2022)

People are hurting badly right now. People have lost their life savings and suicide is a real thing.

I nearly went in to crypto at the beginning of this year but went with etf derivatives instead. Got out really quickly. Its just gambling and pyramid schemes and Im not that way inclined for either.

There is no such thing as a free lunch is still my maxim.

Do not go in to crypto..even now when you might think you are buying at the bottom….the bottom could be a long way down yet!


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## EgM (Jun 17, 2022)

Maybe I’m old fashioned but I believe people should work to make a decent living. All this Crypto crap is just gambling and people suffer the same severe consequences.

Lots of people around here invested lots of money in this last year and well, here we are. Those were the same people trying to get me into this, now they’re pretty silent and depressed.


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## Real Mirage (Jun 17, 2022)

Personally speaking, it's gambling. Among my friends, there are only two people who profited a lot and, many who lost great a deal. I just don't trust anything that "makes you financially independent overnight".


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## Real Mirage (Jun 17, 2022)

tack said:


> Clicked onto the topic preparing for a fun nerdfest about cryptography only to find that, no, it's about cryptocurrency stocks. Alas.
> 
> Guess I'll go back to my boring ole globally diversified and risk appropriate portfolio of index funds now.


Cryptography is fun though!


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## timbit2006 (Jun 17, 2022)

If you actually spend the time to learn to be a competent trader; spend time learning risk management and properly backtest your strategy I can promise you there is money in crypto currency as well as any other tradeable asset.
The trouble with crypto and other "meme stocks" is there's a bunch of morons that think they will get rich quick with next to no work and education so they don't learn any fundamentals and cry and make a fuss about it when they lose their money.


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## chapbot (Jun 17, 2022)

I don't take financial advice from any musicians.


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## liquidlino (Jun 17, 2022)

Roger Newton said:


> That's all great but the first thing anyone must understand is crypto isn't an investment. It's not even backed by a promise. It's basically collecting tokens that have no intrinsic value, treating it like a chain letter, and then calling it an investment. It's a gamble. And some will make money at gambling, it's true.


It's a game of hot potato. Just don't be the guy left holding it when value goes to zero. It's like everyone has never heard of tulip bulbs.


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## Jdiggity1 (Jun 17, 2022)

Hmm... Might hold off on launching VI-Coin then


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## Jett Hitt (Jun 17, 2022)

My grandfather once told me that if I was going to invest, I should buy the one thing they're not making anymore of: land. His $50,000 farm sold for 5 million when he died.


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## marclawsonmusic (Jun 17, 2022)

If you really want to understand crypto, check out 'greater fool' economics.

Because crypto assets represent nothing. NULL. Zero. Zilch.

Oh, they represent _ideas_, right? (many of which I agree with - power to the people, down with the elite, fap fap, etc.) OK, but...

You can invest in anything. Hell, you can probably invest in whether my hair will grow of continue to fall out. (I am going bald).

But good investments are generally backed by something _tangible. _And there is nothing tangible in crypto. There is no product, no service. There is no inventory, there are no assets. 

It's just pure speculation.

Welcome to the gold rush of 2022.


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## Markrs (Jun 17, 2022)

Crypto has no intrinsic value. It doesn't create any value itself, in fact it just reduces value due to the high cost to create crypto. There is no purpose it fulfills. It is just a speculation on future demand.

You could argue it is like collectables, but these tend to have cultural meaning and relevance. Made during a set time and place. Crypto doesn't have that, and many cryptos don't have a limit on how much can be produced.


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## marclawsonmusic (Jun 17, 2022)

Yep. Utter bollocks. Bullshit. I put a few hundred in it and will probably lose it all.

I am the greater fool.


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## Markrs (Jun 17, 2022)

marclawsonmusic said:


> Yep. Utter bollocks. Bullshit. I put a few hundred in it and will probably lose it all.
> 
> I am the greater fool.


As long as you know it is a gamble and stake a relatively small proportion of your overall investments in it, that you are okay losing, then I think that is okay.


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## pinki (Jun 17, 2022)

timbit2006 said:


> If you actually spend the time to learn to be a competent trader; spend time learning risk management and properly backtest your strategy I can promise you there is money in crypto currency as well as any other tradeable asset.
> The trouble with crypto and other "meme stocks" is there's a bunch of morons that think they will get rich quick with next to no work and education so they don't learn any fundamentals and cry and make a fuss about it when they lose their money.


Bloody ignorant peasants!


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## Roger Newton (Jun 18, 2022)

chapbot said:


> I don't take financial advice from any musicians.


Most of them aren't authorised to give financial advice. They can have an opinion though, just like anyone else. You might as well say don't take financial advice from your pet cat. Hands up, I did once and it ended in disaster.


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## Roger Newton (Jun 18, 2022)

Jdiggity1 said:


> Hmm... Might hold off on launching VI-Coin then


Don't wait! Knock yourself out!


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## Roger Newton (Jun 18, 2022)

marclawsonmusic said:


> Yep. Utter bollocks. Bullshit. I put a few hundred in it and will probably lose it all.
> 
> I am the greater fool.


One of Great Britains greatest achievements was the exportation of the word 'bollocks' to the United States and it cost absolutely nothing. Thus proving yet again, the best things in life are free.


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## Stanoli (Jun 18, 2022)

chapbot said:


> I don't take financial advice from any musicians.


Hahaha, why not? It has the same merit like a financial advisor for the stockmarket:

Only 5% of all investors in the stock market earn money in the long run.
And those are 99,9% computerbased trades by professional firms.

It should not be any different (if not worse) with Crypto investing.


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## GtrString (Jun 18, 2022)

I don't really think crypto is investment, more like gambling, which is something different. I also don't like the whitewashing of money from crimes, terrorism, and all of that stuff. Basically, it's a black market. Not for me, I can't support it.


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## Tim_Wells (Jun 18, 2022)

It's interesting how savvy and correctly skeptical folks on this forum are about crypto. You're smarter than about 80% of the "financial experts" on CNBC.


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## Markrs (Jun 18, 2022)

Tim_Wells said:


> It's interesting how savvy and correctly skeptical folks on this forum are about crypto. You're smarter than about 80% of the "financial experts" on CNBC.


It is probably because we are not seeking to 10x our money. If we were, we wouldn't probably be in the music industry and also buying all the VIs we don't use 😂


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## szczaw (Jun 18, 2022)

It's modern day tulip mania that requires energy consumption, while energy prices are going up. Great if you got on it while the ride was up. The moment stocks went down, it all started to crash. I've heard that cryptos supposed to hedge against that.


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## Markrs (Jun 18, 2022)

szczaw said:


> I've heard that cryptos supposed to hedge against that.


Many thought it was the new gold, digital gold, but it turned out to be digital tulips instead that don't hedge against anything.


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## marclawsonmusic (Jun 18, 2022)

Roger Newton said:


> One of Great Britains greatest achievements was the exportation of the word 'bollocks' to the United States and it cost absolutely nothing. Thus proving yet again, the best things in life are free.


If only I had said 'shite' instead of bullshit. 😂


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## David Cuny (Jun 18, 2022)

Tim_Wells said:


> It's interesting how savvy and correctly skeptical folks on this forum are about crypto. You're smarter than about 80% of the "financial experts" on CNBC.


Perhaps it's because we're exposed to this sort of hype daily, and have experience in purchasing highly touted digital goods, only to have the price drop immediately after purchasing?


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## timbit2006 (Jun 18, 2022)

pinki said:


> Bloody ignorant peasants!


Serfs don't belong in trading rooms!
In all reality, are there any doctors who perform heart surgery before going to school? I don't think so. The common peasantry must educate themselves via free information on google to become a proper high class merchant before tossing their hard earned serf wage into a strange online medieval market!


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## NoamL (Jun 18, 2022)

Jdiggity1 said:


> Hmm... Might hold off on launching VI-Coin then


Yessir. Right now I've put everything into the Bored US Presidents NFT collection.


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## Roger Newton (Jun 18, 2022)

timbit2006 said:


> Serfs don't belong in trading rooms!


Trading floors are like world wars.

Very very short periods of lunacy and excitement. Very long periods of boredom.


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## davidnaroth (Jun 18, 2022)

Roger Newton said:


> That's all great but the first thing anyone must understand is crypto isn't an investment. It's not even backed by a promise. It's basically collecting tokens that have no intrinsic value, treating it like a chain letter, and then calling it an investment. It's a gamble. And some will make money at gambling, it's true.


I suppose! I’ve not messed around with it for quite awhile, I made a teensy profit and sold. And glad I didn’t get “invested” in it haha. I still keep track of what it’s doing though


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## Piotrek K. (Jun 23, 2022)

I always wanted to take part in Ponzi scheme as a volunteer, but when one appeared, I decided it's not for me ;D


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## Tim_Wells (Jun 23, 2022)

AstridWalters1 said:


> BTC seems to go crazy. But I still believe it will surpass 50k in less than 18 months. This is an incredible buying opportunity. Simple math with halving event coming in next 6 months. A good friend of mine is opening his own cryptocurrency exchange ...


Two posts from this guy. I'm reporting as suspected spam.

Edit: Deleted link


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## asigrijenny (Dec 30, 2022)

As long as you’re familiar with the risks that come with investing in BTC, it can be a successful strategy to diversify your portfolio. People who don’t believe in crypto don’t understand that when investing it’s important to understand the ups and downs of the market. I agree that as the digital age progresses, Bitcoin will rise in popularity and people will treat it as a serious business. When I first got into investing in BTC, I took things slow and learned to check websites like Moon Bitcoins to keep up with the price of BTC. This helped me understand when it’s best to invest and how to manage my earnings. I had some minor losses, but I’m mostly pleased with the crypto market.


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## David Cuny (Dec 30, 2022)

asigrijenny said:


> As long as you’re familiar with the risks that come with investing in BTC, it can be a successful strategy to diversify your portfolio.


I also often join random forums just to promote crypto. 



> As long as you’re familiar with the risks that come with investing gambling in BTC a Ponzi scheme. , it can be a successful strategy to diversify your portfolio.


Fixed that for you!


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## patrick76 (Dec 30, 2022)

David Cuny said:


> I also often join random forums just to promote crypto.
> 
> 
> Fixed that for you!


I was thinking of getting all the money out of my 401k so I could dump it into the Trump NFTs. I don’t see how I could go wrong. Plus, the one where he’s a superhero…. Masterpiece!! I can finally afford to invest in fine art.


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## ssnowe (Dec 30, 2022)

asigrijenny said:


> As long as you’re familiar with the risks that come with investing in BTC, it can be a successful strategy to diversify your portfolio.


Makes you wonder, at birth did Mr and Mrs Asigrijenny look lovingly at little asigrijenny with hopes and aspirations that one day little asigrijenny would one day spend each and every day joining random Internet forums in an effort to spam BTC and resultantly spread hope and cheer to the rest of the world?


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## David Cuny (Dec 30, 2022)

ssnowe said:


> Makes you wonder, at birth did Mr and Mrs Asigrijenny look lovingly at little asigrijenny with hopes and aspirations that one day little asigrijenny would one day spend each and every day joining random Internet forums in an effort to spam BTC and resultantly spread hope and cheer to the rest of the world?


A Google search shows that "asigrijenny" joined the Christianity Board today to make another single post defending bitcoin on a thread titled "The Beast and Bitcoin".

I'm sure that Mr. and Mrs. Asigri are proud of their bitcoin warrior, dilligently seeking out misguided threads on internet forums and defending Bitcoin's honor from besmirchment.


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## Roger Newton (Dec 30, 2022)

asigrijenny said:


> As long as you’re familiar with the risks that come with investing in BTC, it can be a successful strategy to diversify your portfolio.


Yes indeed. Some crypto trading platforms still exist as I understand it. 

Looking forward to the trial btw.


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## Nick Batzdorf (Dec 30, 2022)

There's a new startup called Feces that's all the rage.

Its CEO's name is Charles Ponzi, and their scheme is guaranteed to make you very rich if you invest in a diversified portfolio of downside surprise inverted cross pattern bull market hypothesis testing.


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