Crypto currency

[HanoiVillan]

Who are the people who invest in crypto?

One recent study looked at what sort of people invest in crypto, and the results are interesting, if you're interested in sociology at all:

'Having a debit card, using a mobile app for payments and using PayPal increase the probability of investing into cryptocurrencies by 1.9, 3.5 and 2 percentage points, respectively. The findings also show that the demand for cryptocurrencies is not driven by distrust in cash or the financial industry, given that there are no differences in the perceived security of cash and offline and online banking. We can thus preliminarily disprove the hypothesis that cryptocurrenciesare sought as an alternative to fiat currencies or regulated finance. However, compared with non-owners, cryptocurrency owners tend to find both cash and traditional banking services less convenient, although this is not the case for online banking.

[...]

Of course, broader socioeconomic characteristics matter as well when it comes to knowledge acquisition and investment decisions around cryptocurrencies. From Table 3, it can be derived that education, income, being a man and being married positively influence both knowing about and owning a cryptocurrency. However, being one year older (or being retired) has a negative significant effect only on owning a cryptocurrency. Race is uncorrelated with cryptocurrency ownership.'

from Auer, R & Tercero-Lucas, D (2021), 'Distrust or speculation? The socioeconomic drivers of US cryptocurrency investments', Bank of International Settlements - https://www.bis.org/publ/work951.pdf

Edited July 17, 2021 by HanoiVillan

[Genie]

There’s another $7 of free money available on Coinbase for doing their quizzes.

[PieFacE]

Seems we're getting a Villa token on the Chiliz blockchain haha. 

[Beastmix]

5 hours ago, PieFacE said:

Seems we're getting a Villa token on the Chiliz blockchain haha. 

It's fascinating to see how many people on Social Media are up in arms about it, mainly because they don't understand  (or have a warped perception of) what it is 

[PieFacE]

2 minutes ago, Beastmix said:

It's fascinating to see how many people on Social Media are up in arms about it, mainly because they don't understand  (or have a warped perception of) what it is 

They probably think they're going to have to buy this token to purchase their half time pies or something

[Beastmix]

7 minutes ago, PieFacE said:

They probably think they're going to have to buy this token to purchase their half time pies or something

There seems to be a misunderstanding where people seem to believe token holders will decide how the club is run, haha. It just says they will have opportunities to participate in 'fan polls' run by the club itself (and the more tokens you have, the more weight your votes have). As if the club are going to let fans vote on anything drastic or project-altering. It'll be trivial stuff like 'what flavour crisps should we have at VP next season?' and stuff.

[PieFacE]

Hopefully the AVL token trades like the PSG token. Will definitely snag a bag when it's eventually on markets.

https://coinmarketcap.com/currencies/paris-saint-germain-fan-token/

[Rds1983]

On 11/08/2021 at 16:50, PieFacE said:

Hopefully the AVL token trades like the PSG token. Will definitely snag a bag when it's eventually on markets.

https://coinmarketcap.com/currencies/paris-saint-germain-fan-token/

Yeah I'm all in on that. Gonna get me enough to make sure I win all votes and that the only flavour of crisps in the away end is prawn cocktail skips. 

[Genie]

Another exchange hacked.

Quote

Japanese cryptocurrency exchange Liquid said Thursday it has been hit by a cyberattack that saw hackers make off with a reported $97 million worth of digital coins.

Liquid said some of its digital currency wallets had been "compromised," and that hackers were transferring the assets to four different wallets.

Of the total haul, $45 million in tokens were being converted to ethereum through decentralized exchanges — blockchain-based platforms that require no intermediaries — like Uniswap and SushiSwap, Elliptic said.

"This enables the hacker to avoid having these assets frozen — as is possible with many Ethereum tokens," Elliptic said in a blog post.

Link

Leaving large amount of crypto on an exchange is like leaving your pension pot in a suitcase by your front door.

[Beastmix]

3 hours ago, Genie said:

Another exchange hacked.

Link

Leaving large amount of crypto on an exchange is like leaving your pension pot in a suitcase by your front door.

I always transfer my crypto to an offline device. Far too dodgy otherwise.

[coda]

On 19/08/2021 at 19:46, Genie said:

Another exchange hacked.

Link

Leaving large amount of crypto on an exchange is like leaving your pension pot in a suitcase by your front door.

190,000 GET stolen. I'm glad Liquid rejected my recent application as I probably would've had mine on there 

Sold most of my FLIXX at the start of the month. Price has been rising ever since.

 

[Genie]

4 minutes ago, coda said:

190,000 GET stolen. I'm glad Liquid rejected my recent application as I probably would've had mine on there 

Sold most of my FLIXX at the start of the month. Price has been rising ever since.

 

I had a small pot of FLIXX on there ($50 worth) and they are untouched.

4 millions Flixx stolen but they made up only 0.2% of the total haul. 

[Rds1983]

I really don't get the point of Crypto punks and why people are spending a fortune on them. As far as I can tell it's purely to show off that you have one. 

[Beastmix]

34 minutes ago, Rds1983 said:

I really don't get the point of Crypto punks and why people are spending a fortune on them. As far as I can tell it's purely to show off that you have one. 

Speculate to accumulate. Think of it like investing in stocks.

For example: if you purchased £1 of BitCoin a few years ago, that £1 would have been worth £7k this time last year... and you could cash it out for £36k today. If you'd purchased £100 worth of it, you'd have £3.6m!

There are plenty of different alt-coins and the more they become integrated, the more their value increases. BitCoin isn't the only coin which will explode like this. XRP, ADA, and ETH all have potential to do the same.

[Rds1983]

16 minutes ago, Beastmix said:

Speculate to accumulate. Think of it like investing in stocks.

For example: if you purchased £1 of BitCoin a few years ago, that £1 would have been worth £7k this time last year... and you could cash it out for £36k today. If you'd purchased £100 worth of it, you'd have £3.6m!

There are plenty of different alt-coins and the more they become integrated, the more their value increases. BitCoin isn't the only coin which will explode like this. XRP, ADA, and ETH all have potential to do the same.

I get crypto trading and am involved. This is trading of Cryptopunks which has exploded for no reason I can see. As far as I can tell it's basically one of 10, 000 unique block chain avatars but they're selling for millions. It's got to be for the exclusivity of having one as far as I can tell. 

https://www.artnews.com/art-news/market/cryptopunks-at-christies-1234589249/amp/

"Originally launched in 2017 when they were given away for free, Hall and Watkinson set aside 1000 of the CryptoPunks for themselves, “just in case it becomes a thing.”  It did. Now Christie’s has a $7-9 million estimate for group of nine.

The peak of CryptoPunk value was March 11 of this year when CryptoPunk3100 sold for 4200 ETH ($7,678,482). Since then, prices have come down a fair bit. That doesn’t mean demand has evaporated. 184 sales of CryptoPunks in the last week for the equivalent dollar value of $8.396m suggests buyers are still clamoring for CryptoPunks."

[Beastmix]

1 minute ago, Rds1983 said:

I get crypto trading and am involved. This is trading of Cryptopunks which has exploded for no reason I can see. As far as I can tell it's basically one of 10, 000 unique block chain avatars but they're selling for millions. It's got to be for the exclusivity of having one as far as I can tell. 

https://www.artnews.com/art-news/market/cryptopunks-at-christies-1234589249/amp/

"Originally launched in 2017 when they were given away for free, Hall and Watkinson set aside 1000 of the CryptoPunks for themselves, “just in case it becomes a thing.”  It did. Now Christie’s has a $7-9 million estimate for group of nine.

The peak of CryptoPunk value was March 11 of this year when CryptoPunk3100 sold for 4200 ETH ($7,678,482). Since then, prices have come down a fair bit. That doesn’t mean demand has evaporated. 184 sales of CryptoPunks in the last week for the equivalent dollar value of $8.396m suggests buyers are still clamoring for CryptoPunks."

Sorry, dude. Misunderstood what you meant.

I don't understand NFTs either. It's a load of nonsense, from what I can tell. I understand the reasoning (it's like buying/selling art), although it really isn't the same thing.

A pixelated avatar of a cat, using no actual materials, is not worth several hundred/thousand/million dollars

[Rds1983]

10 minutes ago, Beastmix said:

Sorry, dude. Misunderstood what you meant.

I don't understand NFTs either. It's a load of nonsense, from what I can tell. I understand the reasoning (it's like buying/selling art), although it really isn't the same thing.

A pixelated avatar of a cat, using no actual materials, is not worth several hundred/thousand/million dollars

They look like bad drawings my 8 year old nephew would do on MS Paint. 

[HanoiVillan]

6 hours ago, Beastmix said:

Speculate to accumulate. Think of it like investing in stocks.

For example: if you purchased £1 of BitCoin a few years ago, that £1 would have been worth £7k this time last year... and you could cash it out for £36k today. If you'd purchased £100 worth of it, you'd have £3.6m!

There are plenty of different alt-coins and the more they become integrated, the more their value increases. BitCoin isn't the only coin which will explode like this. XRP, ADA, and ETH all have potential to do the same.

It's not really anything like investing in stocks though.

[ender4]

6 hours ago, Beastmix said:

Speculate to accumulate. Think of it like investing in stocks.

For example: if you purchased £1 of BitCoin a few years ago, that £1 would have been worth £7k this time last year... and you could cash it out for £36k today. If you'd purchased £100 worth of it, you'd have £3.6m!

There are plenty of different alt-coins and the more they become integrated, the more their value increases. BitCoin isn't the only coin which will explode like this. XRP, ADA, and ETH all have potential to do the same.

no no no.   

Think of it exactly the opposite of above. 

Think of it like sticking £100 on red in roulette.  You might double your money or you might lose your money.  That's a gamble you take. 

You might have put in £100 a year ago (and instead of £3.6m), it was only worth £50 a few weeks ago.   

 

Luckily for me i got in at the right time and took out some gains at the right time.... but that was PURE LUCK.  No skill involved, just a gamble that paid off.

[Beastmix]

57 minutes ago, ender4 said:

no no no.   

Think of it exactly the opposite of above. 

Think of it like sticking £100 on red in roulette.  You might double your money or you might lose your money.  That's a gamble you take. 

You might have put in £100 a year ago (and instead of £3.6m), it was only worth £50 a few weeks ago.   

 

Luckily for me i got in at the right time and took out some gains at the right time.... but that was PURE LUCK.  No skill involved, just a gamble that paid off.

What? It's nothing like that at all.

You make educated decisions (a bit like a sports bet, rather than a game of absolute chance like roulette). Much like in stocks, the value can go down, but if you keep up to date with new uses and partnerships, you stand a good chance of making money.

Also, you're skewing my numbers there. I meant if you got in on Bitcoin when it was £1 for 1 Bitcoin. For example, in 2011 you were able to get 1 Bitcoin for $1. If you did this in 2011, and kept it until now, your $1 in Bitcoin would be worth $48,304 today. If you had purchased $100 worth back then, you'd be looking at £4.83m today.