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

[Pravda]

Yes, I'd cry too

 

[LoveThai94]

Crypto lives on!!

 

Some people will never accept change, you will be stuck with your incandescent , fuel driven cars, and swift banking system.

 

All who believe crypto will be around in 5-10 years smash the like button.

All those who oppose the sad button is your friend.

 

And for you who keep coming with your nonsense get the f off my land.

 

 

[LoveThai94]

https://news.yahoo.com/solana-moonpay-melania-trump-nft-venture-115113423.html

 

Former/still first lady uses crypto for her nft.

Her husband was/is/will be the president of the most powerful country in the world and universe or is it meta verse, either way you get my point.

[ThLT]

1 hour ago, SunnyinBangrak said:

Fact remains crypto has a limited supply

Crypto doesn't have limited supply. It has unlimited supply. Fact remains: a new crypto coin can be created any time. Unlimited number of crypto coins.

 

Edited January 23, 2022 by ThLT

[Walker88]

20 hours ago, Neeranam said:

! I am interested in why people don't invest in crypto, as it doesn't make any sense not to. 

There are many wise older people who invest in cryptos. 

Mr Wonderful recently got in - 

What? It doesn't make sense to NOT 'invest' in a wildly volatile entity that is heavily owned by precious few people? I think it makes quite good sense to be skeptical of folks nobody knows. I find the evangelical zeal with which so many have come to believe in these things rather astonishing, especially when considering nobody knows who the major holders are.

 

These coins trade like penny stocks, and there's a good reason why. Just like penny stocks, the vast majority of the float is in the hands of a few people. .1% of btc owners, for example, own more than 25% of existing coins. No thanks. They play by their rules, and they don't share their plans.

 

When btc takes a tumble, what generally happens is it suddenly ramps up on what seems to be fake volume, as in major players trade with each other to juice the price level, like shills at an auction. Small players and wannabe day-trading geniuses see the move, think it means it's a rocket ship to the moon, and jump in. As the bid fills in, the major holders then come in and slam through a series of price levels, thereby cashing out to retail. That is exactly how folks manipulate penny stocks. The trading patterns of penny stocks and cryptos are identical.

 

Frankly, the very volatility that draws in the amateur players is what makes these coins useless. Hedging vehicles are meager at best, so anyone thinking about accepting coins for a major purpose, or lending/borrowing, has major risk. The only thing left as a function for these coins is thus as a speculative vehicle in a game of musical chairs that is controlled by a few major holders. There's virtually no transparency.

 

Retail came late to the game, and entered aggressively in the last few months. The last two days have hammered these latecomers, besides evaporating the paper gains of longer term holders. Burn me once, shame on you; burn me twice, shame on me. Retail is likely to walk away with its tail between its legs, having been hammered once too often. Perhaps they'll go back to AMC or Gamestop.

 

(That some big 'names' have jumped on the crypto bandwagon means nothing. That Kevin O'Leary guy built a company, sold it, but isn't anything special in terms of investing prowess, so his interest in btc is hardly a worthy testimonial.)

 

The other thing working against the first movers like btc is that the public is fickle. Each coin might be finite, but since cryptos are conjured from thin air, cryptos collectively are infinite. Because they make nothing and are based on notrhing except an algo, there is zero barrier to entry.There are nearly 17,000 different cryptos now, though a few thousand of those have seen volume all but dry up. btc might turn out to be what Lycos was to search engines or MySpace was to social media. Along came Google and Facebook, and goodbye Lycos and MySpace. Another coin will come along, get hyped and marketed by a 'guru', and retail will flock there just as they did to btc.

 

In the meantime, the major holders will continue to manipulate and cash out into any frenzy.

 

Trade it...okay. Marry btc or any other coin...a definite no.

 

I also find it somewhat ironic that some folks say they're in coins because they cannot trust sovereign governments (the folks who issue fiat AND have taxing authority).  So governments run by elected officials everyone knows cannot be trusted, but folks nobody knows can be trusted 100% ? That seems rather odd.

[ThLT]

15 minutes ago, Walker88 said:

.1% of btc owners, for example, own more than 25% of existing coins. No thanks. They play by their rules, and they don't share their plans.

You're missing a zero after the decimal. It's 0.01% that hold around 27% of Bitcoin.

 

https://cointelegraph.com/news/0-01-of-bitcoin-holders-control-27-of-all-circulating-coins-study

[LoveThai94]

On 1/23/2022 at 11:19 AM, ThLT said:

Crypto doesn't have limited supply. It has unlimited supply. Fact remains: a new crypto coin can be created any time. Unlimited number of crypto coins.

 

what kind of response it this?

What does a new coin have to do with an existing coin?

[LoveThai94]

2 hours ago, Walker88 said:

What? It doesn't make sense to NOT 'invest' in a wildly volatile entity that is heavily owned by precious few people? I think it makes quite good sense to be skeptical of folks nobody knows. I find the evangelical zeal with which so many have come to believe in these things rather astonishing, especially when considering nobody knows who the major holders are.

 

These coins trade like penny stocks, and there's a good reason why. Just like penny stocks, the vast majority of the float is in the hands of a few people. .1% of btc owners, for example, own more than 25% of existing coins. No thanks. They play by their rules, and they don't share their plans.

 

When btc takes a tumble, what generally happens is it suddenly ramps up on what seems to be fake volume, as in major players trade with each other to juice the price level, like shills at an auction. Small players and wannabe day-trading geniuses see the move, think it means it's a rocket ship to the moon, and jump in. As the bid fills in, the major holders then come in and slam through a series of price levels, thereby cashing out to retail. That is exactly how folks manipulate penny stocks. The trading patterns of penny stocks and cryptos are identical.

 

Frankly, the very volatility that draws in the amateur players is what makes these coins useless. Hedging vehicles are meager at best, so anyone thinking about accepting coins for a major purpose, or lending/borrowing, has major risk. The only thing left as a function for these coins is thus as a speculative vehicle in a game of musical chairs that is controlled by a few major holders. There's virtually no transparency.

 

Retail came late to the game, and entered aggressively in the last few months. The last two days have hammered these latecomers, besides evaporating the paper gains of longer term holders. Burn me once, shame on you; burn me twice, shame on me. Retail is likely to walk away with its tail between its legs, having been hammered once too often. Perhaps they'll go back to AMC or Gamestop.

 

(That some big 'names' have jumped on the crypto bandwagon means nothing. That Kevin O'Leary guy built a company, sold it, but isn't anything special in terms of investing prowess, so his interest in btc is hardly a worthy testimonial.)

 

The other thing working against the first movers like btc is that the public is fickle. Each coin might be finite, but since cryptos are conjured from thin air, cryptos collectively are infinite. Because they make nothing and are based on notrhing except an algo, there is zero barrier to entry.There are nearly 17,000 different cryptos now, though a few thousand of those have seen volume all but dry up. btc might turn out to be what Lycos was to search engines or MySpace was to social media. Along came Google and Facebook, and goodbye Lycos and MySpace. Another coin will come along, get hyped and marketed by a 'guru', and retail will flock there just as they did to btc.

 

In the meantime, the major holders will continue to manipulate and cash out into any frenzy.

 

Trade it...okay. Marry btc or any other coin...a definite no.

 

I also find it somewhat ironic that some folks say they're in coins because they cannot trust sovereign governments (the folks who issue fiat AND have taxing authority).  So governments run by elected officials everyone knows cannot be trusted, but folks nobody knows can be trusted 100% ? That seems rather odd.

This response is a big nothing burger!

The post is not about bitcoin or any specific coin, its about crypto.

[Pravda]

On 1/23/2022 at 1:30 PM, LoveThai94 said:

 what kind of response it this?

What does a new coin have to do with an existing coin?

 

What do you mean new coin? Crypto is limited......oh wait....????

[ThLT]

On 1/23/2022 at 1:30 PM, LoveThai94 said:

 what kind of response it this?

What does a new coin have to do with an existing coin?

She said crypto has a limited supply.

 

Clearly, it doesn't. You can create an unlimited number of coins. As soon as one coin has been completely mined, simply create new coin called SuperDuperBTC, and start again.

 

As soon as BTC will hit its famous 21 million limit, more people will then start buying other coins instead.

 

On 1/23/2022 at 1:36 PM, LoveThai94 said:

The post is not about bitcoin or any specific coin, its about crypto.

Yes, this thread is about crypto. But do you know that Bitcoin is a cryptocurrency? Why are you complaining that he is talking about Bitcoin?

 

[SunnyinBangrak]

On 1/23/2022 at 2:05 PM, ThLT said:

She said crypto has a limited supply.

 

 

 

Here is my actual quote. 

 

"Fact remains crypto has a limited supply, in BTC's case it is 21 million."

[LoveThai94]

36 minutes ago, Pravda said:

 

What do you mean new coin? Crypto is limited......oh wait....????

Go on to an exchange and buy a crypto then, oh dam they said which one!

We need to spell things out for people like you.

[ThLT]

7 minutes ago, SunnyinBangrak said:

"Fact remains crypto has a limited supply, in BTC's case it is 21 million."

First part of the sentence is still false. Individual cryptocurrencies or coins have a limited supply. Crypto, as in "cryptocurrencies in general," which is what "crypto" means, doesn't have a limited supply.

 

Edited January 23, 2022 by ThLT

[Pravda]

3 minutes ago, LoveThai94 said:

Go on to an exchange and buy a crypto then, oh dam they said which one!

We need to spell things out for people like you.

 

More altcoins on exchanges, less money going into bitchcoin.

 

What part don't you understand

[LoveThai94]

19 minutes ago, ThLT said:

Comprehension is not your strong suit... She said crypto has a limited supply.

 

Clearly, it doesn't. You can create an unlimited number of coins. As soon as one coin has been completely mined, simply create new coin called SuperDuperBTC, and start again.

 

As soon as BTC will hit its famous 21 million limit, more people will then start buying other coins instead.

 

Yes, this thread is about crypto. But do you know that Bitcoin is a cryptocurrency? Why are you complaining that he is talking about Bitcoin?

 

I understood what she meant, clearly you didn't.

I was really hoping you were trying to mislead but duh!

 

I finally got into the stock market.   ........ Which stocks did you buy?

I bought xyz and zyx.                        .........  Oh why did you go into the stock market when abc is doing so bad?

 

Some people sit at the front of the class and still cannot learn, maybe its ADHD!

 

You really let me down, i really thought you were better than that with logic.

 

Maybe i am wearing you down.

 

You are dismissed!

[LoveThai94]

7 minutes ago, Pravda said:

 

More altcoins on exchanges, less money going into bitchcoin.

 

What part don't you understand

Really!

You are this dense?

[LoveThai94]

12 minutes ago, ThLT said:

First part of the sentence is still false. Individual cryptocurrencies or coins have a limited supply. Crypto, as in "cryptocurrencies in general," which is what "crypto" means, doesn't have a limited supply.

 

Let me clear this up for you, i know you can read but to understand not so easy for you.

She forgot to put each in front of crypto.

 

Each crypto coin supply is limited.

 

There you go.

[ThLT]

1 hour ago, LoveThai94 said:

Comprehension is not your strong suit, what kind of response it this?

What does a new coin have to do with an existing coin?

And even if there is a limited supply of individual BTC, individual bitcoins, for example, are subdivided into Satoshis of 0.00000001 BTC. The monetary value of Satoshis reflect that of an individual BTC. At the point 1.0 BTC reaches very high monetary values, like at the moment, 1.0 BTC just becomes an arbitrary unit of measurement.

 

If 1.0 BTC would be worth $10 billion USD—considering no one makes purchases at that scale—there would still need to be a small enough denomination for BTC to realistically be used as a currency. 1 Satoshi (0.00000001 BTC) would be worth $100 USD. You couldn't even make most purchases, and BTC would have to be subdivided even more, into yet smaller units. So every time there is subdivision, the "number" of individual pieces of BTC is increased—making supply essentially infinite. This is basic mathematics.

 

If 1.0 BTC would be worth $100, and the smallest amount you could buy would be say 0.01 BTC, then yes, now scarcity comes into play. But since you can buy as small as 0.00000001 BTC, there basically is no scarcity.

 

Edited January 23, 2022 by ThLT

[LoveThai94]

10 minutes ago, ThLT said:

And even if there is a limited supply of individual BTC, individual bitcoins, for example, are subdivided into Satoshis of 0.00000001 BTC. The monetary value of Satoshis reflect that of an individual BTC. At the point 1.0 BTC reaches very high monetary values, like at the moment, 1.0 BTC just becomes an arbitrary unit of measurement.

 

If 1.0 BTC would be worth $10 billion USD—considering no one makes purchases at that scale—there would still need to be a small enough denomination for BTC to realistically be used as a currency. 1 Satoshi (0.00000001 BTC) would be worth $100 USD. You couldn't even make most purchases, and BTC would have to be subdivided even more, into yet smaller units. So every time there is subdivision, the "number" of individual pieces of BTC is increased—making supply essentially infinite. This is basic mathematics.

 

If 1.0 BTC would be worth $100, and the smallest amount you could buy would be say 0.01 BTC, then yes, now scarcity comes into play.

 

Really again!

 

I told you that you are dismissed and you still came back with garbage.

 

With split comes with the price split, they do this all the time in the stock market.

 

If you have two loafs and split each in 5 pieces you still have two loafs!

 

Come with something better next time!

 

[Pravda]

24 minutes ago, LoveThai94 said:

Really!

You are this dense?

Oh dear, someone's down a lot on their crypto. 

 

 

 

[JensenZ]

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?

You thank someone for their reply, then proceed to insult them. You asked for opinions, so there's no need to be insulting.

 

It's a good thing you're not building rockets. Had you bought In April or November, 2021, you could have blown half your money. Using bitcoin (BTCUSD) as a general barometer as they all move the same... look at the weekly chart. The weekly candles average around $10,000. This last week's price range was nearly 25% of its worth.

 

 

You will never know the right time to buy and sell as the volatitly is crazy. It's not investment - it's gambling. At best, it's very high risk speculation. You only "invest" in crypto with money you can afford to lose. A bit of praying on the side might come in handy too. Crypto trading is FOMO (Fear Of Missing Out) driven.

 

You say it's here to stay. That's not a certainly either. You don't think regulating crypto is high on the list of most government's agendas. Cash is already considered dirty and so is crypto.

 

The world's 2nd biggest economy has alread banned it along with other countries, and the list grows. Here's a January 2022 article from a well respected publication: Fortune:

 

https://fortune.com/2022/01/04/crypto-banned-china-other-countries/#:~:text=Some governments that have banned,could destabilize their financial systems.

 

 

Edited January 23, 2022 by JensenZ

[LoveThai94]

2 minutes ago, Pravda said:

Oh dear, someone's down a lot on their crypto. 

 

 

 

Really!

I am not deeply invested into crypto, actually i am playing with the house money.

Who you think i am?

Come again!

[ThLT]

18 minutes ago, LoveThai94 said:

I told you that you are dismissed and you still came back with garbage.

You don't seem to understand basic math? 

 

18 minutes ago, LoveThai94 said:

With split comes with the price split, they do this all the time in the stock market.

 

If you have two loafs and split each in 5 pieces you still have two loafs!

The creation of a new BTC has nothing to do with the monetary value of BTC, and smaller units of measurement, such as the Satoshi (0.00000001 BTC).

 

Tell me, if there is currently almost 19 million BTC at the moment (out of the 21 millions maximum supply), each worth around $40,000, why are there 1,000,000,000,000,000,000 Satoshis?

If in 100 years from now, 1 Satoshi is worth $40,000... then wow, Bitcoin has now 1,000,000,000,000,000,000 "Satoshi Bitcoins." The name changed, from bitcoins to Satoshis, but now the amount has changed from 21 million to... 1 quintillion (1,000,000,000,000,000,000). 

Again, there is no "limited supply" of Bitcoin.

 

Edited January 23, 2022 by ThLT

[fdsa]

32 minutes ago, ThLT said:

But since you can buy as small as 0.00000001 BTC, there basically is no scarcity.

you can not buy smaller than 0.00001 BTC as most exchanges will decline that amount, also there is a hardcoded limit of bitcoin node itself - transactions less than 0.00000358 BTC will be rejected by the network.

[Pravda]

16 minutes ago, LoveThai94 said:

Really!

I am not deeply invested into crypto, actually i am playing with the house money.

Who you think i am?

Come again!

Yeah... Me too. I'm literally gambling on it and bought some dips.

 

Why are you emotionally attached then? It's all about the bottom line for you or me. 

 

Bought some AMP yesterday.

 

Edited January 23, 2022 by Pravda

[LoveThai94]

3 minutes ago, ThLT said:

You don't seem to understand basic math? 

 

The creation of a new BTC has nothing to do with the monetary value of BTC, and smaller units of measurement, such as the Satoshi (0.00000001 BTC).

 

Tell me, if there is currently almost 19 million BTC at the moment, each worth around $40,000, why are there 1,000,000,000,000,000,000 Satoshis?

If in 100 years from now, 1 Satoshi is worth $40,000... then wow, Bitcoin has now 1,000,000,000,000,000,000 "Satoshi Bitcoins." The name changed, from bitcoins to Satoshis, but now the amount has changed from 21 million to... 1 quintillion (1,000,000,000,000,000,000). 

Again, there is no "limited supply" of Bitcoin.

 

You logic is not logical.

 

Well it might be limited but maybe ....

 

I guess you are trying to deflect to trick the people who don't understand the topic.

We won't even get into the math part, that is not a road you want to go down!

 

When you search stuff you don't know about on the internet the next step is to try to understand what it actually means.

 

You are dismissed!

No more garbage from you.

[LoveThai94]

1 minute ago, Pravda said:

Yeah... Me too. I'm literally gambling on it and bought some dips.

 

Why are you emotionally attached then? It's all about the bottom line for you or me. 

 

Not emotionally attached to it or anything really.

I am just debating a topic and having fun.

[ThLT]

20 minutes ago, LoveThai94 said:

You logic is not logical.

If that's the case... then prove it. ????

It's mathematics. There is nothing easier to prove.

 

20 minutes ago, LoveThai94 said:

No more garbage from you.

Coming from you, who posted so many false things in the past few pages of the thread? 

 

Me, lkn and a few members corrected your 10-plus incorrect claims/misunderstandings. Each time you kept silent or didn't address the points raised... 

 

Exactly like right now.

 

Edited January 23, 2022 by ThLT

[Stocky]

11 minutes ago, ThLT said:

Each time you don't reply to the criticism raised. Why?

The kid's trolling, just look back a few posts, mentioning Trump; talk about throwing red meat. He's winding you up - just stop taking the bait.

 

.

Edited January 23, 2022 by Stocky

[LoveThai94]

3 minutes ago, ThLT said:

If that's the case, then prove it. ????

 

It's mathematics. There is nothing easier to prove.

 

Coming from you, who posted so many false things in the past few pages of the thread? 

 

Me, lkn and a few members corrected your 10-plus incorrect claims/misunderstandings. Each time you don't reply to the criticism raised. Why?

 

Come on now!

You corrected what ?, the others guys knew to take an exit.

 

Don't reply to the criticism raised?, really when i am sleeping?, I am in a different time zone!

I never back down from a debate.

 

Leave the prove thing alone, next thing you will say you created bitcoin.