Respectfully disagreeing with Leo about Crypto

[Leo Gura]

Crypto is astrology for men.

[BlessedLion]

Astrology for men is pretty much about to set me up for retirement-no joke 

[lostingenosmaze]

1 hour ago, Leo Gura said:

Crypto is astrology for men.

Nah that's Omegaverse

[StarStruck]

2 hours ago, Emerald said:

My view on this is that it's wisest to make money only off of things that provide real value to society at that is what money/wealth is meant to be a symbol of.

And trading Crypto back and forth is mostly just pushing numbers back and forth and playing a game that doesn't really lead to any value-based outcomes.

There is actually competition crypto coins. The value is the technology of value exchange and the improvement of it. Saying crypto has no value is like saying usd doesn’t have value because it is not based on anything. While that is true you still need usd to buy your makeup and stuff. 

[wellbranding]

5 hours ago, StarStruck said:

There is actually competition crypto coins. The value is the technology of value exchange and the improvement of it. Saying crypto has no value is like saying usd doesn’t have value because it is not based on anything. While that is true you still need usd to buy your makeup and stuff. 

Yes! Also, if we check history the false ideas and implementation in crypto (Luna, celcius, ftx) collapsed, while valid DeFi ideas: aave, uniswap, makerDao, etc. remained.

It is true that crypto coins attract money, but in reality every business tries to build a MOAT and by doing so blocks ways for other enterprises, thus accumulating money only for it's own sake. Same is in crypto - your projects attracts money, other projects loose traction, coin falls and we have an ever lasting flow of money from one coin, person to another. 
 

All this leads to new frameworks and growth of blockchain sector.

 

In highly conscious society a concept of money will cease to exists. All that matters is innovation. Now a huge problem is that, even if you have legit ideas, you are blocked by existing companies, creating a difficult entry. You get VCs money who care about making their bags grow.

Unless you can boostrap with money from others (kickstarter), but thats also stealing in a sense.

For the good of society, money as a concept should probably not exist at all. Look at the worldwide issues. Some are driven by greed, it might just look "nice" and labeled as innovation, but it still has to make money.

Crypto world exposes the selfishness of the traditional banking system really well, too. Actually in order to build legitimate systems in DeFi you need to be more smarter than banking people.

Edited March 8 by wellbranding

[Unlimited]

2 hours ago, BlessedLion said:

Astrology for men is pretty much about to set me up for retirement-no joke 

I can relate to that.

[StarStruck]

 

[Dodo]

7 hours ago, Leo Gura said:

This is just hindsight bias.

Many people were predicting a recession and market collapse.

When you guys are accidently right, you act as though you knew the market. And then one day the market will wipe you out. Because you're not actually predicting anything, you are reading tea leaves and BSing yourselves.

I have 2 different charts which predicted the run, and other charts before that which hinted at bottom from below 20k. 

One of the chart is using Ichimoku indicator on weekly timeframe which is usually very reliable for long term direction.  The other is a fractal, same price action for weeks as the price action before the previous big bull run to 69k. It consists of a pump, sideways, dump, sideways pump bull run. 

Ive showed those, will add them to the comment. I dont see how it can be obvious without analysing the chart, but for me the low risk high reward trade opportunity was obvious. 

cant say its hindsight because I drew everything in foresight.

Edited March 8 by Dodo

[jimwell]

5 hours ago, wellbranding said:

In highly conscious society a concept of money will cease to exists. All that matters is innovation. Now a huge problem is that, even if you have legit ideas, you are blocked by existing companies, creating a difficult entry. You get VCs money who care about making their bags grow.

Correct. Money will be perceived as ancient and barbaric. The way money is created and distributed is unfair and corrupt. But I do see the value and need for money. It's a needed evil which paradoxically creates good things. Corporate hierarchies and salary slavery will also disappear. But it'll probably take hundreds or even thousands of years.

The same thing can be said for stock, crypto, and currency trading; they're all corrupt. And they'll also disappear along with money. But I recognize the value and necessity of these practices in this era. They align well with the current economic system and the current level of human development. I'm guilty of this corruption, and I'm NOT proud of it. But I understand the need for it. I'm grateful stock and currency trading exist.

Edited March 8 by jimwell
added a few more ideas

[wellbranding]

@jimwell Thanks for sharing 🙌 Indeed, they are necessarily.

I am still amazed by Leo's negative view on crypto... As a dev before, he should atleast try to check DeFi platforms or some gaming apps himself instead of basing his opinion on other peoples's opinion 😅

And "value" is inheritely subjective. Some people don't want more fancy tech or build a company which does real stuff: foods (processed and poisoned most often, with those heavy metals). Some of us, just want to live regular lives without much possession but with an option to track more on chain instead of relying on some outside parties to handle money for us.

Edited March 8 by wellbranding

[OBEler]

Leo you were once sharing on your blog Bitcoin pro videos.

Now you think it's a gamble. Why?

Even first Insurance companies now want to establish Bitcoin against inflation. If they have success Bitcoin price is going up beyond the moon because other insurance companies will adapt.

 

 

Edited March 8 by OBEler

[Leo Gura]

Bitcoin is not a hedge against inflation. When inflation was high, Bitcoin crashed.

You guys are so bought into the group-think that you are not seeing reality clearly.

Edited March 8 by Leo Gura

[StarStruck]

Crypto is a wild horse. It can either win the race for you or it can run you into the ground. Crypto is basically like a woman. You shouldn’t be too invested in it. 

[Dodo]

11 minutes ago, StarStruck said:

Crypto is a wild horse. It can either win the race for you or it can run you into the ground. Crypto is basically like a woman. You shouldn’t be too invested in it. 

it will do both when the time is right hehe

[Dodo]

13 hours ago, StarStruck said:

 

I didnt watch, but if he is not being sarcastic then I wish him luck, he might need it

[Davino]

18 hours ago, Leo Gura said:

Crypto is astrology for men.

you are a machine of insights

I didn't get this message when I first read it

I have been all day understanding it deeper and deeper, like chewing a good chewing gum

[TheEnigma]

Just wondering people's opinions on here. Will money eventually be gone? and how many years from now?

[josemar]

34 minutes ago, TheEnigma said:

Just wondering people's opinions on here. Will money eventually be gone? and how many years from now?

Not in your lifetime 

[Lucasxp64]

If you guys don't understand the logarithmic regression band, market capitalization (Small caps have more space to grow, larger caps such as bitcoin are impossible to give a 100x from a 1 Trillion market cap, since that would engulf the world's economy), don't know what Dollar Cost Average is, and the difference between long-term investing and short-term trading. You have no business buying any crypto. Learn the fundamentals, don't buy into the hype, when it's hyped you are probably too late for it.

[Dodo]

7 hours ago, Lucasxp64 said:

If you guys don't understand the logarithmic regression band, market capitalization (Small caps have more space to grow, larger caps such as bitcoin are impossible to give a 100x from a 1 Trillion market cap, since that would engulf the world's economy), don't know what Dollar Cost Average is, and the difference between long-term investing and short-term trading. You have no business buying any crypto. Learn the fundamentals, don't buy into the hype, when it's hyped you are probably too late for it.

Theres still a lot more to go to reach gold and stock marketcaps. Crypto is a tiny circle in relation to those and still huge growth potential