Crypto company deathwatch thread

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Used to think the current crypto is like the dotcom and it would all get replaced with better shit, but whoever got btc or eth is going to end like whoever invested in pets.com or webvan

Now I'm thinking crypto might really be like tulips, which sure you still see them around but thats it. You will still have stuff like monero to buy drugs and other things but crypto in general will collapse and never reach these heights. Most of the value was speculative like saying web3 would run on crypto, but I've yet to see a blockchain app that runs faster and cheaper than on regular servers, most run slow and are expensive as fuck

Most of the "solutions" like nfts are for problems nobody had, and the alternatives run better. Besides brave I've yet to see an app built with crypto that does something better than regular apps do, same with websites. Most of the shit out there its half baked at best because its not there to solve a problem but to pump the value of whatever shitcoin its promoting

Even the scams when you look at them came mostly from people who were already in finance and saw the opportunity of duping idiots in an unregulated space where the feds wont show up and fuck them in the ass
tehpope said:
I ordered a ledger nano a plus as soon as I saw xoinbase was having issues. Too bad the gas for my ETH might kill me lol.
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Is the nano open source?
Breadbassket said:
Is this a case of the much talked about "bubble" popping, an overall economic depression or something else?
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I think this might be a depression, too much shit going on

Then again theres a new retard born every minute and they will replace the current retards falling for this

Most crypto schemes are just a wealth transfer
Justtocheck said:
Tether will soon bite the dust. Mark my words. Coinbase is also shit. A full on grift made to siphon as much money from people and put it into the owner's pockets.
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I think tether might be shielded by whales who know that if that falls then btc will collapse to nothing so they keep sending finex money to prop that shit up whenever it gets too wobbly
 
Pissmaster said:
KF is funded by crypto, so a total evisceration would mean you cumbutts would have to go straight back to Reddit and live out your days dodging tranny jannies.
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Even if Bitcoin, Eth etc totally craters, there will be another crypto. It just means crypto will have suffered a brutal reset of expectations.
Low IQ Doctor said:
I doubt Coinbase is going down,
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It will if its dragged down by external forces
Low IQ Doctor said:
Tether was supposed to fall apart years ago, but yet it persists
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They are literally printing money to stay afloat, they aren't the Fed, they can't keep this up forever.
 
Low IQ Doctor said:
I doubt Coinbase is going down, they've always struck me as one of the more level-headed crypto companies. Were they hugely overvalued? Yeah, but they're taking steps to cut some of the fat.
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Does anyone have a list of exchanges that probably won't go to shit?
I've been using coinbase because for awhile it was the only one to actually link with my bank, but I managed to get uphold and gemeni to work and I've been tempted to switch over to one of those two.
 
Zyklon Ben's Poison Pen said:
They are literally printing money to stay afloat, they aren't the Fed, they can't keep this up forever.
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Until the regulators come, there's nothing stopping them. They won't willingly submit to an audit, and no one wants to be the one to pop that bubble.

Anyways, post risky or dying companies, if I wanted to hear that crypto is an entirely useless scam, I'd post this on reddit.

Blockfi on the chopping block too? They decided with 2 days in advance to shut down for Juneteenth weekend

blockfi2.png



And their CEO is assuring people that they definitly aren't in trouble.

blockfi.png


 
Nol 2 said:
Until the regulators come, there's nothing stopping them. They won't willingly submit to an audit, and no one wants to be the one to pop that bubble.
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Oh for sure but unless you are the world power, printing your currency to solve your problems only leads to Zimbabwe
 
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Eh. Eth will always have some bit of utility because smart contracts are actual useful tech, so I expect it to settle at a low but nonzero value. I'm out 200 bucks but it was a fun ride.

If we get a real megacrash I'm looking forward to a pile of cheap gpus on the secondary market and lots of salt from those who invested hard into dedicated mining hardware.
 
ducktales4gameboy said:
Eh. Eth will always have some bit of utility because smart contracts are actual useful tech, so I expect it to settle at a low but nonzero value. I'm out 200 bucks but it was a fun ride.

If we get a real megacrash I'm looking forward to a pile of cheap gpus on the secondary market and lots of salt from those who invested hard into dedicated mining hardware.
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'23 will be the year of the Gaming PC my friend. Unfortunately gaming has sucked for years.
 
>People learning that crypto is a currency, not necessarily an investment like a stock.
Stop treating it like a stock bozos.
 
Cool Dog said:
View attachment 3395552
Used to think the current crypto is like the dotcom and it would all get replaced with better shit, but whoever got btc or eth is going to end like whoever invested in pets.com or webvan

Now I'm thinking crypto might really be like tulips, which sure you still see them around but thats it. You will still have stuff like monero to buy drugs and other things but crypto in general will collapse and never reach these heights. Most of the value was speculative like saying web3 would run on crypto, but I've yet to see a blockchain app that runs faster and cheaper than on regular servers, most run slow and are expensive as fuck

Most of the "solutions" like nfts are for problems nobody had, and the alternatives run better. Besides brave I've yet to see an app built with crypto that does something better than regular apps do, same with websites. Most of the shit out there its half baked at best because its not there to solve a problem but to pump the value of whatever shitcoin its promoting

Even the scams when you look at them came mostly from people who were already in finance and saw the opportunity of duping idiots in an unregulated space where the feds wont show up and fuck them in the ass

Is the nano open source?

I think this might be a depression, too much shit going on

Then again theres a new retard born every minute and they will replace the current retards falling for this

Most crypto schemes are just a wealth transfer

I think tether might be shielded by whales who know that if that falls then btc will collapse to nothing so they keep sending finex money to prop that shit up whenever it gets too wobbly
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Monero is the only cryptocurrency that really does what people think a cryptocurrency is supposed to do in terms of "spooky secret internet money". It's also a historically terrible performer for a big cap crypto because it's still primarily used as a currency and not a store of value (People don't typically care what XMR's price does because you hold it 5 minutes at a time). Ethereum and its derivatives have their use case in smart contracts.
BTC by its design was a proof of concept that wasn't designed to operate in perpetuity. Fixed supplies make good selling points, but digital currency isn't food or water: Once BTC moved from being a currency to existing in the popular conscious as a store of value, it sort of messed up. BTC is way too anti-incentivized to give up once you have any: That's bad for a currency and if there's no incentive to exchange your BTC it also becomes increasingly less meaningful as a store of value. That's not to say the price of a cryptocurrency can't ever go up without undermining its concept, but
BTC's use cases have all been accomplished by newer crypto since that better serve that particular aspect. BTC chugs along from first mover advantage, but the more people get burned on it, the more likely it goes the way of the art market: Meant for rich people to shuffle their small fortunes around, but ultimately a small market that normal people have no desire to put money in: The global art market is currently about 1/7th the size of BTC's fully diluted mcap.
 
ProfessorCuckulus said:
every get rich quick scheme crashes eventually. no such thing a s free lunch. if you dont want to be poor get a real job instead of playing imaginar stock market,
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the real problem with cryptotards is they think their ponzicoins will moon linearly forever. Its one of the easiest markets to make a quick buck off of safely, just get in on the first big bullrun in over a year, sell after a few weeks once it the green bars start being rivalled by red ones, ignore it for another 2 years. Could you make more hodl'ing? sure, but sitting on your bags like a moron for 6+ months is how they always get burned.
 
Hey Hey Heeeeeey

Hey Hey Heeeeeey

Waso Waso Waso Waso Bit Connect!

But yeah, I agree with whoever said nobody should have treated this like an investment.
 
There’s Nexo. They seem shady. And they’re based in Eastern Europe, but like to say they’re in the UK or Switzerland or wherever.
 
FFinfo said:
Monero is the only cryptocurrency that really does what people think a cryptocurrency is supposed to do in terms of "spooky secret internet money". It's also a historically terrible performer for a big cap crypto because it's still primarily used as a currency and not a store of value (People don't typically care what XMR's price does because you hold it 5 minutes at a time). Ethereum and its derivatives have their use case in smart contracts.
BTC by its design was a proof of concept that wasn't designed to operate in perpetuity. Fixed supplies make good selling points, but digital currency isn't food or water: Once BTC moved from being a currency to existing in the popular conscious as a store of value, it sort of messed up. BTC is way too anti-incentivized to give up once you have any: That's bad for a currency and if there's no incentive to exchange your BTC it also becomes increasingly less meaningful as a store of value. That's not to say the price of a cryptocurrency can't ever go up without undermining its concept, but
BTC's use cases have all been accomplished by newer crypto since that better serve that particular aspect. BTC chugs along from first mover advantage, but the more people get burned on it, the more likely it goes the way of the art market: Meant for rich people to shuffle their small fortunes around, but ultimately a small market that normal people have no desire to put money in: The global art market is currently about 1/7th the size of BTC's fully diluted mcap.
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I think I asked this before but I dont recall getting an answer: is there anywhere in the world where an eth smart contract is legally recognized? as in I can use a smart contract instead of a regular contract from a notary and the courts will recognize it

Because afaik a smart contract right now is as legally valid as a verbal contract thru whatsapp

Anyway, I think monero its far more likely to be used for money laundering since its actually untraceable, meanwhile everybody knows the feds already got methods to trace btc
ISEEYOU said:
the real problem with cryptotards is they think their ponzicoins will moon linearly forever. Its one of the easiest markets to make a quick buck off of safely, just get in on the first big bullrun in over a year, sell after a few weeks once it the green bars start being rivalled by red ones, ignore it for another 2 years. Could you make more hodl'ing? sure, but sitting on your bags like a moron for 6+ months is how they always get burned.
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The only way to win with shitcoins is to be part of the in-group that organized the entire scheme and knows when the dump is happening. If you're not part of the club you'll never see it coming, the discord and telegram groups are there to dupe some rubes to put their money into the rugpull, get the idiots hyped into selling their homes to buy more shitbecoin, but its not the place where the real action is happening. Only the ones running the scams win, and maybe a handful of rubes who by sheer chance happened to dump at the same time they did
Nol 2 said:
Nexo is out of Bulgaria

And looks like MIM (Magic Internet Money) has some bad debt. Doesn't look like it would go down without a bank run
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>Magic Internet Money

Imagine falling for a scam that's literally named as a metaphor for a scam

How are these levels of retardation possible? how are the idiots who fall for this still alive? how they manage to not go extinct? how do they not forget how to breathe and choke to death?
 
Cool Dog said:
an eth smart contract is legally recognized?
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Smart contracts don't quite operate the same way a contracts in the colloquial sense do. In layman's terms, smart contracts automatically execute when their conditions are met: They're "trustless" in that you do not need to worry about someone reneging on their end of the deal. Once you interact with a smart contract, everything's done by the contract immediately (funds sent/received, service executed, etc.)
For example, if I write a smart contract that gives you an NFT in exchange for ETH, there's no way for you to cheat the contract: You can use it —which will automatically give me your ETH and send you your NFT — or you can decide not to use it (in which case we just do not do business), but there's no way for you to send me ETH and not get your NFT, or me to send you the NFT and not receive any ETH.
 
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