Help with crypto

[Moretorque]

It is a pity no-one seems to know how to exploit the current situation. A few thousand dollars could be turned into millions.

Jeff Berwick of $ Vigilante made millions the other day playing a crash senario...

[Cornfed]

It is a pity no-one seems to know how to exploit the current situation. A few thousand dollars could be turned into millions.

Jeff Berwick of $ Vigilante made millions the other day playing a crash senario...

I've already followed his advice and of course the timing really sucked. I still believe I will profit handsomely in the end, but it would be good to figure out other carpetbagging opportunities in the meantime.

[HouseMD]

It is a pity no-one seems to know how to exploit the current situation. A few thousand dollars could be turned into millions.

Jeff Berwick of $ Vigilante made millions the other day playing a crash senario...

I've already followed his advice and of course the timing really sucked. I still believe I will profit handsomely in the end, but it would be good to figure out other carpetbagging opportunities in the meantime.

Personally I'm hoping almost all crypto becomes worthless, as the current trajectory is pointing toward. Fundamentals like gold should be where money is going, not fake coins

[Cornfed]

Personally I'm hoping almost all crypto becomes worthless, as the current trajectory is pointing toward. Fundamentals like gold should be where money is going, not fake coins

Gold is a useless yellow metal other than for certain electronics. Crypto can potentially do useful things like execute smart contracts.

[HouseMD]

Personally I'm hoping almost all crypto becomes worthless, as the current trajectory is pointing toward. Fundamentals like gold should be where money is going, not fake coins

Gold is a useless yellow metal other than for certain electronics. Crypto can potentially do useful things like execute smart contracts.

Smart contracts are just regular contracts with extra steps. There is literally nothing that crypto does that cannot be done mpre effectively without using crypto. You want scarcity? We've got metal. You want contracts? We've got paper. You want ownership? Again, paper. It's dumb bullshit that only sounds smart to delusional techies amd dumb people. Gold has uses, crypto objectively is a wasteful and inefficient currency on an unfathomable scale. You're three or four nukes detonated in LEO away from complete destruction of the system upon which crypto depends at any given time, it is dumb.

[Cornfed]

Smart contracts are just regular contracts with extra steps. There is literally nothing that crypto does that cannot be done mpre effectively without using crypto.

Not true at all. Take this scenario. A guy is skeptical about the long term utility of his wife. He places a bet in the form of an anonymous smart contract on the Dero network betting that her name will not appear in the death register before a certain date at 20 to one odds and attaches $20k worth of piratechain to it. Someone takes the bet by attaching $1k of piratechain. After the appointed date the contract uses the Equilibrium oracle network to check the death register and then sends all the coin to the appropriate private wallet depending on the outcome. That seems like a lot less hassle than any likely non-crypto alternative.

[HouseMD]

Smart contracts are just regular contracts with extra steps. There is literally nothing that crypto does that cannot be done mpre effectively without using crypto.

Not true at all. Take this scenario. A guy is skeptical about the long term utility of his wife. He places a bet in the form of an anonymous smart contract on the Dero network betting that her name will not appear in the death register before a certain date at 20 to one odds and attaches $20k worth of piratechain to it. Someone takes the bet by attaching $1k of piratechain. After the appointed date the contract uses the Equilibrium oracle network to check the death register and then sends all the coin to the appropriate private wallet depending on the outcome. That seems like a lot less hassle than any likely non-crypto alternative.

You're literally just describing a betting algorithm. That doesn't require crypto. The biggest issue with smart contracts is that they often fail to account for many variables, leaving them highly prone to either breaking or being exploited. Fixing them is a nightmare and costs an enormous amount of gas. So you end up with something that could have been done 10000 times easier by a bookie with a calendar.

[publicduende]

I have worked as a developer for 2 different blockchain companies, both with their own VC investment, business models, tokenomics, white papers, governance and consumable tokens, community leaders and marketing campaigns with manga-style graphics.

From what I have seen from the inside, it's 100% all, and totally a smokescreen. None of these new platforms deliver even 10% of the benefits and innovation they promise. Certainly, none of these is revolutionising - or will ever revolutionise - any sector of modern finance (payments, loans, etc.).

They are all a pump & dump schemes. The idea is always the same: announce a breakthrough and use community leaders on Reddit and Discord to convince as many "early adopters" as possible to buy in. Once the VC holdings are 7 to 10 times their original investment, the dump stage begins and the governance tokens "unexplicably" loses 70 to 80% of their value.

The VCs and maybe (and I emphasize maybe) the founders will have made their desired ROI of 7x to 10x in about a year. VCs are usually people who got very rich with the initial batch of cryptos, or with these very schemes, and know that they may well have a shot with new pump & dump schemes, as long as there's poultry available. These people are not interested in the product, the tech, the vision, or anything else. All they want is a 7-10x ROI in a year. That's their benchmark. After that, the project may well demonstrate some genuine potential, or end up in the dumpster of history: they couldn't care less.

I am no expert of cryptocurrency history but, from what I have seen so far, even the original crypto projects like Bitcoin and Ethereum will fail, because the good intentions of the few mean nothing when the vast majority pollutes, abuses and uses the platform and its underlying economics for their own personal gain.