Siam Commercial Bank moving into Crypto, why aren't you?

[ThLT]

5 hours ago, LoveThai94 said:

Almost every investment is speculative, read the fine prints on any managed fund.

If every investment is speculative, then crypto is insanely speculative. And it's not true that every investment is completely speculative. Companies like Apple and Amazon, for example, are actual businesses that provide actual products and services—and considering their past performances, are very likely to remain profitable for many more years to come. On the other hand, cryptocurrencies, being a completely new market, and also currently providing no product or services, is entirely speculative. And especially individual coins. Nothing wrong with a speculative asset, but it is what it is. I don't know what you are trying to argue about, since even crypto fans know cryptocurrencies are highly speculative and volatile assets.

 

Edited January 19, 2022 by ThLT

[lkn]

6 hours ago, LoveThai94 said:

Almost every investment is speculative, read the fine prints on any managed fund.

You can call everything “speculation”. E.g. learning a skill is speculation about whether this skill will be needed in the future.

 

But with stocks and crypto, what are you speculating about? With stocks, your speculation is about the future cashflow of the company, which you can estimate using their quarterly earnings, market research, and possibly company’s own guidance.

 

Remind me, what are we speculating about with crypto? Something about being able to sell to a greater fool?

[Pravda]

I believe in adoption. It majority of people think Bitcoin has value there's nothing you can do about it.

 

Crypto markets are open 24 hours a day and accessible to the whole planet unlike say nasdaq.

 

Oh wait.... They were available to the whole planet once China and India banned it. Now it's only half a planet.

 

Trade accordingly and never, ever HODL

Edited January 20, 2022 by Pravda

[Muzzique]

On 12/30/2021 at 4:52 AM, Neeranam said:

So it is hard for you to understand if you bought Bitcoin a year ago, you would be up 100%. 

If you bought it 12 years ago, you'd be up 600,000,000% and anywhere in between you would be well ahead.

 

Not exactly rocket science is it?

 

 Bitcoin is a pretty safe long term bet but don't try to jump in or out of it to make a profit, sit with it for the long term. It will go down soon though.

 

I held bitcoin for 10 years now and it's sitting pretty but I'd never go outside due to the volatility of the crypto blockchain development now underway at the grassroots.

 

But Bitcoin runs of a legacy Crypto model and the newer ones will eclipse it soon so I moved out due to the risk of it crashing.

 

Unless you understand the science of Cryptocurrency and blockchains keep well clear. 

[patman30]

On 12/30/2021 at 10:52 AM, Neeranam said:

Thanks for your reply. 

 

So it is hard for you to understand if you bought Bitcoin a year ago, you would be up 100%. 

If you bought it 12 years ago, you'd be up 600,000,000% and anywhere in between you would be well ahead.

 

Not exactly rocket science is it?

how will BTC miners remain profitable if the price does not double every 4 years ?
how will a system capable of only 440k transactions a day become THE global financial system ?

[lkn]

On 12/30/2021 at 4:52 AM, Neeranam said:

So it is hard for you to understand if you bought Bitcoin a year ago, you would be up 100%. 

This is from a survey done by Huobi in mid-December involving > 3,000 participants. So probably a majority of these people are currently in the red. Hopefully for them, a bigger wave of new investors will come in 2022 to provide them with much needed exit liquidity, and then in 2023 an even bigger wave will come, ad infinitum.

 

[Neeranam]

 

[Neeranam]

10 hours ago, patman30 said:

how will BTC miners remain profitable if the price does not double every 4 years ?
how will a system capable of only 440k transactions a day become THE global financial system ?

I have no idea about bitcoin mining. Bitcoin will not become the global financial system, did I say it would? 

[ThLT]

59 minutes ago, Neeranam said:

I have no idea about bitcoin mining. Bitcoin will not become the global financial system

1. You don't know how Bitcoin and cryptocurrencies work. ????

2. You don't even believe in what you are investing in.

So essentially, you're only in it for the quick money?

[Neeranam]

2 minutes ago, ThLT said:

1. You don't know how Bitcoin and cryptocurrencies work. ????

2. You don't even believe in what you are investing in.

So essentially, you're only in it for the quick money?

I am in it for the money. Why do you invest? 

[ThLT]

38 minutes ago, Neeranam said:

42 minutes ago, ThLT said:

1. You don't know how Bitcoin and cryptocurrencies work. ????

2. You don't even believe in what you are investing in.

So essentially, you're only in it for the quick money?

I am in it for the money. Why do you invest? 

Usually, when you invest in something, it's good to:

 

1. Understand what you're investing in.

2. Believe in the potential of what you're investing in.

[Neeranam]

9 minutes ago, ThLT said:

Usually, when you invest in something, it's good to:

 

1. Understand what you're investing in.

2. Believe in the potential of what you're investing in.

Do you invest primarily to make money?

[Pravda]

Oh dear.....

 

https://www.coindesk.com/policy/2022/01/20/bank-of-russia-calls-for-full-ban-on-crypto/

 

So essentially the 24/7 hour casino is closed for Chinese, Indians, and soon Russians. That's more than half a planet. This does not look good at all for crypto.

[Henryford]

Because it's a Ponzi scheme.

[Pravda]

Neeranam is busy giving out sad and confused smileys.

 

Some of these crypto were promising to solve world hunger. Nothing worry 

[ThLT]

53 minutes ago, Pravda said:

Neeranam is busy giving out sad and confused smileys.

Yes. A few days ago, he went through 10 or so pages in the thread, and gave a "Sad" reaction to something like 30 of my posts. He did that while not participating in the thread for 20 days.

[ThLT]

14 hours ago, Neeranam said:

Do you invest primarily to make money?

I'll answer after you answer my question that you didn't answer. ????

 

15 hours ago, ThLT said:

So essentially, you're only in it for the quick money?

Edited January 21, 2022 by ThLT

[ThLT]

More than $30 million in Ethereum and Bitcoin stolen on the Crypto.com exchange on January 17th.

 

https://www.theverge.com/2022/1/20/22892958/crypto-com-exchange-hack-bitcoin-ethereum-security

 

Although, Crypto.com makes a ton in profit, so they were able to compensate their users.

 

[Yellowtail]

4 minutes ago, ThLT said:

More than $30 million in Ethereum and Bitcoin stolen on the Crypto.com exchange on January 17th.

 

https://www.theverge.com/2022/1/20/22892958/crypto-com-exchange-hack-bitcoin-ethereum-security

 

Although, Crypto.com makes a ton in profit, so they were able to compensate their users.

 

 

Given crypto has no value, why are people stealing it? 

[ThLT]

7 minutes ago, Yellowtail said:

Given crypto has no value, why are people stealing it? 

As a poor attempt, you're twisting and conflating what I've said. It seems you still don't understand the meaning of something like a business creating value (here is your own source, for the the fourth time now)... and as you describe above, something having monetary value.

[Muzzique]

On 1/20/2022 at 2:56 AM, Muzzique said:

But Bitcoin runs of a legacy Crypto model and the newer ones will eclipse it soon so I moved out due to the risk of it crashing.

 

Unless you understand the science of Cryptocurrency and blockchains keep well clear. 

Check this out, it might give you an idea of what's coming.

https://medium.com/general_knowledge/top-crypto-blockchain-games-30-per-day-8a7e3c085c70

[lkn]

2 hours ago, ThLT said:

Although, Crypto.com makes a ton in profit, so they were able to compensate their users.

Speaking of crypto.com, which resides in Singapore: The Monetary Authority of Singapore is moving to ban all promotions of Digital Payment Tokens services to the general public. Already, all bitcoin ATMs in Singapore have been disabled.

Edited January 21, 2022 by lkn

[Pravda]

2 hours ago, ThLT said:

More than $30 million in Ethereum and Bitcoin stolen on the Crypto.com exchange on January 17th.

 

https://www.theverge.com/2022/1/20/22892958/crypto-com-exchange-hack-bitcoin-ethereum-security

 

Although, Crypto.com makes a ton in profit, so they were able to compensate their users.

 

Imagine when quantum computing becomes a thing 

[Muzzique]

On 1/20/2022 at 3:00 AM, patman30 said:

how will BTC miners remain profitable if the price does not double every 4 years ?
how will a system capable of only 440k transactions a day become THE global financial system ?

Crypto mining it changing it's model.

 

First any payments you make to any company living in the metaverse enter but don't come out. Crypto is used for payment for services or support without using $ or £ but next Gen Crypto.

 

It uses NFT games or similar to harness the value in the processing power of a users computer or mobile to mine it own Crypto while the user plays.

 

Instead of using large mining farms such as North Korea has built, it works by giving Free or Small entry free games while in reality it's creating it's Crypto currency due to the conversion of the players processing power into it's Crypto value.

 

You can imagine how much processing power is lost while kids play online games, well now that is captured as a value.

 

It's hard to explain unless you understand how Crypto is built. But basically, the thousands or millions of players act as mini miners. Any payments they make using external real-world currencies are now are also translated into a NFT  coin value.

 

The value of the Crypto is based on the playability of the games or the amount of real World currency that is being converted into it's coin. 

 

So the big players in Crypto will not be the banks but the likes of Epic Games or similar who have a large player community that can generate a high value electronic Crypto coin value.

 

And it's not just games, anything in the new Metaverse has a virtual Crypto value. AR will be the new platform to buy, sell or trade anything. Not in our lifetime but the transformation is already in progress, hidden away in the younger generations.

 

It's way to complicated to explain but for the uninitiated it's going to be a nightmare to wade through. This is pure Gen Z stuff.

Edited January 21, 2022 by Muzzique

[Muzzique]

The value of a Crypto currency is in it's uncrackable security, the depth of the processing algorithm to create it, the inaccessibility of the users wallet and the distribution of the nodes and security algorithms the blockchain uses.

 

There is no human intervention here, it's all done by machine. If a blockchain sits on say 1000 nodes, you would need to hack 501 virtual machines at the same instant and make the same change to beat it. Given the fact that nodes sit on globally distributed virtual machines that are being torn down and rebuilt every few minutes, you cannot crack it.

 

Any variation by one virtual machine node is reviewed by all 1000 machines and a collective vote by all the nodes decide if the information is wrong and that node is torn down and a new virtual node is created anywhere in the secure  metaverse to replace the node that is wrong.

 

This means that the value of a crypto currency in´s in it's trust and creation value. That is decided by the users based on their faith in it. 

Bitcoin is old tech but the new Crypto is more secure and uncrackable.

Now that Crypto can be used in the Metaverse to buy services or products by a simple wallet transfer. No currency conversion or bank transfer fees.

 

It's not the end of cash as we know it but you can go to any location or store in the future anywhere in the World and use this new global cyber currency as payment without transaction or currency costs variation. 

If you don't understand it don't invest in it. If a Crypto is thought unsafe or is not in vogue, it's value will crash in seconds.

 

The market is very volatile, large value coin holders will buy heavily in a Crypto to artificially increase it's value which will draw the initiated to want to get involved.  

 

Once it get to a certain level they immediately sell them. Which brings it'd value crashing down. The get out at top value and the uninitiated small investor have to take the value crash hit. This is why the currencies are so volatile as these day traders manipulate the value.

 

If you're in it, stay for the long term, there are no quick wins to be had here but be warned, if a Crypto coin has a trust or vogue issue, bang will go everything you think you have made over the years in an instant

 

Edited January 21, 2022 by Muzzique

[ThLT]

1 hour ago, Muzzique said:

The value of a Crypto currency is in it's uncrackable security, the depth of the processing algorithm to create it, the inaccessibility of the users wallet and the distribution of the nodes and security algorithms the blockchain uses.

You do point a few small things of how cryptocurrencies are valuable, but most of what you are describing is blockchain and cryptography. Yes, cryptocurrencies are dependent on blockchain/cryptography, but they are still different things.

 

I agree with you regarding the issues with cryptocurrencies. In my opinion those are considerable negatives and in my opinion affect the value of crypto in general. But some in this thread might not agree.

Edited January 21, 2022 by ThLT

[lkn]

1 hour ago, Muzzique said:

You can imagine how much processing power is lost while kids play online games, well now that is captured as a value

There is no lost processing power to exploit. If you increase load on the CPU, you also increase power consumption, i.e. drain the battery faster.

[cjinchiangrai]

Just to go back to the basics, the rate of return for an investment is evaluated at the nominal interest rate for government bonds (0% risk and maybe 2% return) plus the inflation rate plus the risk factor. Therefore, say 2% for base, 4% for inflation and 94% risk = 100% annual return. Sorry, I am not buying it.

[LoveThai94]

On 1/19/2022 at 4:01 AM, lkn said:

You can call everything “speculation”. E.g. learning a skill is speculation about whether this skill will be needed in the future.

 

But with stocks and crypto, what are you speculating about? With stocks, your speculation is about the future cashflow of the company, which you can estimate using their quarterly earnings, market research, and possibly company’s own guidance.

 

Remind me, what are we speculating about with crypto? Something about being able to sell to a greater fool?

Speculation is speculation no matter what we are speculating about, same for stocks and any other assets.

 

Company stock price is based on what someone is willing to pay for it!

 

If stock price was based off fundamentals only the marking would not be falling as interest rate is increasing.

 

[LoveThai94]

On 1/19/2022 at 3:14 AM, ThLT said:

If every investment is speculative, then crypto is insanely speculative. And it's not true that every investment is completely speculative. Companies like Apple and Amazon, for example, are actual businesses that provide actual products and services—and considering their past performances, are very likely to remain profitable for many more years to come. On the other hand, cryptocurrencies, being a completely new market, and also currently providing no product or services, is entirely speculative. And especially individual coins. Nothing wrong with a speculative asset, but it is what it is. I don't know what you are trying to argue about, since even crypto fans know cryptocurrencies are highly speculative and volatile assets.

 

Apple and Amazon are a few companies in the stock market that is making a profit.

 

Multiply the stock price of these two great companies with their outstanding shares and compare that with their earnings, doesn't quite add up right?, maybe it will in 2025.