Urban75 Home About Offline BrixtonBuzz Contact

Bitcoin discussion and news

I had quite a few people enthusiastically, no make that evangelically, raving about crypto and imploring me to get involved. And ALL of them have now lost money after initial gains.

There's always going to be people who are going to be suffering a paper loss on crypto. My parents are currently down, but I warned them not to speculate more than they are prepared to lose and they are patient enough to ride it all out.

Fortunately for me, I'm not down. I got in around 2016 but the bulk of my money went in at some point in 2018.

I tell people (NOT financial advice etc etc) do NOT speculate any sizeable sum of money within crypto. There's no need to.

Don't speculate on crypto. Research it, use it, with very small amounts of money.

This is what I suggest people do:

1) Gather a list of crypto projects that do not have a token.
2) Research those projects and whittle the list down to the projects that you believe are useful and have a decent amount of money in the project.
3) Use the products. For example, if it's some layer two blockchain, stick a small amount of money (£20 to £50) on it and use products within it's eco-system.

When they create a token, because they want to decentralise, you should qualify and you'll be rewarded with tokens that are worth a lot more than the money you've put into the ecosystem.

I've made over £40,000 just by having about £100 being used on various products. I've had airdrop after airdrop by just using the right products with small amounts of money.

That's a way better strategy than risking thousands of pounds on the markets.

Unless you're an ace day trader who has a trading desk with trading bots setup, with all the right software, then speculating on crypto is just like speculating on stocks and shares.

Speculating on Ethereum, is no different than speculating on Microsoft, Tesla, Amazon etc.

If you don't believe they are going to do well over the next 5 years or so, you really shouldn't be throwing good money at them.

It's no use me raving about how good Ethereum and other cryptos are trying to get someone to chuck thousands into it, if that person hasn't got anything to go on other than me raving about it. They'll just cut their losses at the first time of trouble and forever more I'm the idiot who lost them a few grand!

As I cryptocurrency / blockchain advocate, I don't want to see people throwing money at it just to speculate, I'd rather people learned about it and used it for positive change.
 
There's always going to be people who are going to be suffering a paper loss on crypto. My parents are currently down, but I warned them not to speculate more than they are prepared to lose and they are patient enough to ride it all out.

Fortunately for me, I'm not down. I got in around 2016 but the bulk of my money went in at some point in 2018.

I tell people (NOT financial advice etc etc) do NOT speculate any sizeable sum of money within crypto. There's no need to.

Don't speculate on crypto. Research it, use it, with very small amounts of money.

This is what I suggest people do:

1) Gather a list of crypto projects that do not have a token.
2) Research those projects and whittle the list down to the projects that you believe are useful and have a decent amount of money in the project.
3) Use the products. For example, if it's some layer two blockchain, stick a small amount of money (£20 to £50) on it and use products within it's eco-system.

When they create a token, because they want to decentralise, you should qualify and you'll be rewarded with tokens that are worth a lot more than the money you've put into the ecosystem.

I've made over £40,000 just by having about £100 being used on various products. I've had airdrop after airdrop by just using the right products with small amounts of money.

That's a way better strategy than risking thousands of pounds on the markets.

Unless you're an ace day trader who has a trading desk with trading bots setup, with all the right software, then speculating on crypto is just like speculating on stocks and shares.

Speculating on Ethereum, is no different than speculating on Microsoft, Tesla, Amazon etc.

If you don't believe they are going to do well over the next 5 years or so, you really shouldn't be throwing good money at them.

It's no use me raving about how good Ethereum and other cryptos are trying to get someone to chuck thousands into it, if that person hasn't got anything to go on other than me raving about it. They'll just cut their losses at the first time of trouble and forever more I'm the idiot who lost them a few grand!

As I cryptocurrency / blockchain advocate, I don't want to see people throwing money at it just to speculate, I'd rather people learned about it and used it for positive change.
Or just not fucking bother and keep their money.
 
And here's another reason to avoid it altogether:

A 2022 report, titled Revisiting Bitcoin's Carbon Footprint, conducted by climate and economics researchers across Europe estimates that “Bitcoin mining may be responsible for 65.4 megatonnes of CO2 per year … which is comparable to country-level emissions in Greece (56.6 megatonnes in 2019).

 
Or just not fucking bother and keep their money.

Yes indeed they could.

People should be free with as many choices as possible to make with their freedoms.

I don't trust banks, but if there is anyone I trust less with my money, then it has to be the government.

Which leads us on to CBDCs.

The best thing to stave off top-down control of our lives, are public permissionless blockchains.

I don't understand why you're so against them, when they can be used to hold governments and corporates to account, bringing transparency.

Blockchains prevent the corrupt from fiddling the books and stealing assets.

Blockchains with zero-knowledge proofs protect people's privacy.

There's loads of innovation in the sector. I'm confident my comments on all of this will age quite well and many people over time won't even realise they are using the technology.
 
Yes indeed they could.

People should be free with as many choices as possible to make with their freedoms.

I don't trust banks, but if there is anyone I trust less with my money, then it has to be the government.

Which leads us on to CBDCs.

The best thing to stave off top-down control of our lives, are public permissionless blockchains.

I don't understand why you're so against them, when they can be used to hold governments and corporates to account, bringing transparency.

Blockchains prevent the corrupt from fiddling the books and stealing assets.

Blockchains with zero-knowledge proofs protect people's privacy.

There's loads of innovation in the sector. I'm confident my comments on all of this will age quite well and many people over time won't even realise they are using the technology.
They'd be doing a good thing for the environment if they don't bother too - unlike people like you.
 
They'd be doing a good thing for the environment if they don't bother too - unlike people like you.
There seems to be a misunderstanding here.

Differences of opinion on bitcoin aside, I'm encouraging people to investigate and use Ethereum, the layer two networks that sit on top of it and the myriad of useful and innovative products within that ecosystem, including products that enable entities to prove the carbon footprint they are using, to prove that they are not greenwashing.

Please let's not make the mistake of using bitcoin's proof of work energy requirements as a reason to overlook other blockchains and products that are useful in helping society become greener.
 
There seems to be a misunderstanding here.

Differences of opinion on bitcoin aside, I'm encouraging people to investigate and use Ethereum, the layer two networks that sit on top of it and the myriad of useful and innovative products within that ecosystem, including products that enable entities to prove the carbon footprint they are using, to prove that they are not greenwashing.

Please let's not make the mistake of using bitcoin's proof of work energy requirements as a reason to overlook other blockchains and products that are useful in helping society become greener.
Greenwashing tosh

 
Greenwashing tosh

Come on mate. That's not fair. The Ethereum community can't prevent miners from repurposing their machines to use on other blockchains.

Whatever next, claiming to Tesla owners: "Yeah but some twat is still polluting with your last car!!!!" ?

I'm not sure what you want here. The Ethereum community did everything they could to make Ethereum more energy efficient.

It's even now even offering solutions for other blockchains to secure themselves using Ethereum, video here:

 
Last edited:
I

Can't you just promise to stay out of the kitchen at parties
If I were to go to a party to find people talking about their problems in the kitchen, believe me, I'd be back in the living room to dance in front of the speakers before you can say "Universal Basic Income"
 
Last edited:
Great!

"Riot said on Wednesday that the state's power grid operator paid the company $31.7 million in energy credits in August — or roughly $22 million more than the value of the bitcoin it mined that month — to cut its energy consumption during a record-breaking heatwave in the state."

 
My mate is sitting in the pub, smiling.

He just had a hundred grand investment in his ‘token’. The crypto wheels are still rolling, it seems.

He didn’t try to sell me any :)
 
Back
Top Bottom