Bitcoins/Litecoins/Virtual Currencies

Mist said:

If there ever is a web3, it will likely be fucking awful, with micropaywalls everywhere, identity-tracking, social credit system, etc; a fintech jew banker's idea of what the internet should have been, rather than the technotopia envisioned by the original people who made the web free.

Click to expand...

All that stuff exists now, so I'm assuming you mean web3 would make it easier/more prolific. Identity tracking is pretty easy now, so I'm not sure how web 3 would change that in a meaningful way. And I don't really know what you mean about social credit system.

As far as micro paywalls, I DO I think that's an area that web 3 would change quite a bit. Kind of torn on that one myself. Obviously I like free stuff and I like the idea of a totally free web. But I also understand that people want to get paid to produce content, and that doesn't seem unreasonable to me.

Plus, we already pay for a lot of web content indirectly right now, and I think the idea (at least) of web 3 would be to simply make payment easier, and funnel it more directly to content creators rather than third parties.

You'd have the flexibility to pay a content creator a la carte for their content rather than go through some onerous process of inputting your credit card and agreeing to a subscription to pay the agency that the content creator works for.

Increasing flexibility, adding options, and taking out middlemen is what blockchain is all about.
That's the theory anyway. The reality is no one really knows what a functioning web 3 would look like. I don't think there's much of a chance of things turning out as awful as you're imagining, though. If it sucked that bad I just don't think it would happen at all. Which is a distinct possibility.

Oblio said:

SHIBA just jumped out at me because it was the lowest price with the highest Market Cap.

Click to expand...

This is why rugpulls work.

All this great news and crypto is dropping like a rock lol. Ive had a Matic buy set for 1.60 for several days hoping it would trigger. Wondering if I should lower it a bit.

Oblio said:

For some context I know dick about Crypto. I bought some BTC like few years back and some ETH the following year, I had not looked at my wallet in years until a few weeks ago. SHIBA just jumped out at me because it was the lowest price with the highest Market Cap. My question was meant as in WTF is up with this in a historical sense, not what is happening right now.

I am just looking to throw some money at something and not pay attention to it and thus I bought a small amount of MATIC.

I am open to suggestions...

Click to expand...

Dollar cost average in. or wait for dec 25thish/january.

Lots of fear. with Tether, "whales" taking profits, driving down the prices.

Eth moving averages are not looking good. blew past 100 day, on the way to 200 day, which is 3235.
looks like a massive dip is hitting. this is not the time to buy yet.

Will probably be a month or so before we turn around, at best. Although I do think the new year just might do it.

oh, and btc or eth.

The Tether issue is the biggest concern I have for crypto as a whole. It's the main thing I think that could crash the whole market. If that's what this is (big "if") things could go way down from here.

What is the tether issue?

Falstaff said:

What is the tether issue?

Click to expand...

A lot of FUD surrounding the backing of the USDT asset. Its fairly opaque as to what exactly backs it. I don't believe anything has really been proven one way or another on it. Tether was created at a time where getting legitimate banking connections for crypto companies was impossible and they had some shady relationships that fell through.

I don't feel strongly about Tether one way or another, but I did think that it being used in that capacity was interesting.

Falstaff said:

What is the tether issue?

Click to expand...

Briefly, tether has become a linchpin upon which the entire crypto market rests. It's been revealed recently that tether might be largely smoke and mirrors. Even if it's not smoke and mirrors, if a substantial portion of the tether holders were to suddenly decide that they no longer had faith in tether and cash out for USD, the crypto market would crash.

So, either way, it seems like the crypto market has a super tenuous foundation. You should look it up, because I'm not really doing it justice. But the impression I got from the last time I took a look at it was that it might be better off for the crypto market to start over under a better foundation. Because right now it's built on an inverse House of cards.