Cryptocurrency

Some of the team joined our Telegram Group yesterday. They really inspired a lot of confidence. They have a massive support base and reading up about them made me work up FOMO. I bought in today.

You must be pretty happy.

^ You absolutely can!

Clone any of the open source projects. Make your mods, give it a name, presto!
Estimated value = 0.

Hey, you could just be really honest about it and launch it as a joke.
Or, you could buy dogecoin. Or ****coin.

I know it's hard to imagine but there are other people that have already had your ideas. You are not a unique and individual snowflake.

You > "Haha! Hey what about using a kite instead of a sail?! Why hasn't anyone considered this?"

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evlPanda said..
I don't understand Power Ledger.

How do I transfer *the electricity* to the person that bought it?

Every description, including the white paper, glosses over that. Genuine question.

When I don't understand something crypto related I hop on Telegram and start asking questions.

Why don't you Join their telegram group and ask the direct question there?

t.me/joinchat/Gop-90DIMiPF7N_EtvFzjA

Hey psssst. Everyone. When they say "the blockchain" they mean "THE blockchain". Can you guess which one it is?
Alt-coins (think alternative medicine) are good as experimental testbeds. If they work the feature will be copied onto the main chain (the big B).

Alt-coins:


Power Ledger's AMA didn't go down too well:
www.reddit.com/r/IAmA/comments/73zjv8/we_are_the_team_from_power_ledger_creators_of_the/?st=j9orvukf&sh=e217ea0c

ICOs are dodgy. Buyer beware.

Beware people selling snake oil.

The first question I would ask: why would he change his login if he was fairdingkum ?

Yep thought so. Absolutely NO IDEA what you just bought. Just speculating it will go up so you can make a quick buck from a greater fool.The bulk of ICOs are like this I suspect.

I've just read the whitepaper and and for once it's in an area I know well. So many hurdles that are ignored or glossed over to the point where it's just fantasy.

But yeah it may well double. Why not? There's always a bigger fool you can offload to until the music stops.

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cryptotrader said..

evlPanda said..
My question is really simple:
When Alice in Perth sells electricity to Bob in Melbourne how the **** does that even work?
Not the money, the electricity.

I'm a trader, a crypto currency speculator. I understand there are huge risks.

When I open this browser, I don't ask how the internet works. It just does.

You want an answer to a simple question - go and ask them, read their whitepaper, stop repeating yourself. I refuse to spoon feed tards.

If Alt Coins/ICOs are not for you - so what.

As an experiment, why don't we see where the price of this is in one months time - 8 December? Right now it's $US 0.22c

^ You are the only person that doesn't understand the point they are clearly making.

You said:
"Some of the team joined our Telegram Group yesterday. They really inspired a lot of confidence. They have a massive support base and reading up about them made me work up FOMO. I bought in today."

But you clearly don't understand even the very first thing about the Project, which is how the electricity is traded between Alice and Bob.

You're clearly a speculator, as you admit, working off technical analysis. That's fine. No problem.

But don't come in here saying you've also done fundamental analysis on a product, that is A SCAM, because that is pumping. That is selling snake oil.

And the only topic you've discussed and posted on is this one.

I say ban him? (and ICOs (and Ethereum))?

...But don't come in here saying you've also done fundamental analysis on a product, that is A SCAM, because that is pumping. That is selling snake oil.

And the only topic you've discussed and posted on is this one.

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cryptotrader said..

evlPanda said..
You're clearly a speculator, as you admit, working off technical analysis. That's fine. No problem.

No sh1t sherlock - how many times have I said that I'm a crypto currency speculator - fark me.

I don't go on here pretending I'm an expert like you and Bara. I don't pretend I can beat the market.

I also don't really believe in TA (wrong again) - I mean I look at graphs, but that's it - I'm more of a vibe trader, I listen to people in the market, I look at and follow signals, hard to explain - I try to follow what's hot, I'll buy what's being pumped and usually get out quickly. I set tight lower stop points.

I buy incrementally in the dips and sell when a coin behaves like a man who hasn't had sex in three months.

It doesn't always work but whatever I've been doing has worked amazingly well for me in the past 4 months.

Oh its the vibe!

great now you have admitted it please stop with the whole Ive done my research spiel and stick with " ive bought this stuff cos of the vibe i got and I want it to go up so you should buy some too" and leave it at that eh?

I did that **** in the dot com bubble and it went well for me and all my mates for a good year till we gave up 80% of our gains when it burst in a hurry. Rarely understood what I was buying just that demand was high and it had a good story. Still was better than the latecomers who lost their shirts. And that was in a regulated and relatively efficient share market where people still had some laws to abide by.

This has been a real insight for me though - an ICO in an area i know quite a bit about. That whitepaper would have been laughed out of our offices it has so many flaws. The team they have is from the only non deregulated market in Australia (barring the NT) so no track record on solving the very basic flaws in the business model either.

The key relationships are murky at best and missing the really key one - the market operator.

And best of all the incentives on either end (buyer and seller) are uneconomic - probably even value destroying for them best I can work out.

And yet they took $34M from a bunch of mugs with quick bucks in their eyes !

Applying this ICO to all the others where I dont understand the business model anywhere near as well means they are all only ever ever short term trades for me now if I touch em at all and ill be keeping a close ear to the ground for when the music stops aye!

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Bara said..

Oh its the vibe!

great now you have admitted it please stop with the whole Ive done my research spiel and stick with " ive bought this stuff cos of the vibe i got and I want it to go up so you should buy some too" and leave it at that eh?

I did that **** in the dot com bubble and it went well for me and all my mates for a good year till we gave up 80% of our gains when it burst in a hurry. Rarely understood what I was buying just that demand was high and it had a good story. Still was better than the latecomers who lost their shirts. And that was in a regulated and relatively efficient share market where people still had some laws to abide by.

This has been a real insight for me though - an ICO in an area i know quite a bit about. That whitepaper would have been laughed out of our offices it has so many flaws. The team they have is from the only non deregulated market in Australia (barring the NT) so no track record on solving the very basic flaws in the business model either.

The key relationships are murky at best and missing the really key one - the market operator.

And best of all the incentives on either end (buyer and seller) are uneconomic - probably even value destroying for them best I can work out.

And yet they took $34M from a bunch of mugs with quick bucks in their eyes !

Applying this ICO to all the others where I dont understand the business model anywhere near as well means they are all only ever ever short term trades for me now if I touch em at all and ill be keeping a close ear to the ground for when the music stops aye!

You lost money in the Dot Com because you have weak hands and obviously don't have the ticker for crypto.

So let me get this right .....are you also saying Power Ledger is a "SCAM" and a laughable project. Do you think the Mayor of Perth is deliberately misleading people by chairing this venture?

Do you think the only purpose of Power Ledger's existence was to get ICO funding.

Please elaborate.

Lol its not poker crypto. I think thats where you go wrong. Its a bit like poker though except that the pot can evaporate before your eyes and your strong hand buys you nothing in the end.

I stand by what ive said here. Yet to hear from you specifically just what gives you such "confidence" from the telegram discussion (other than that the chair is a dark horse mayor so cant possibly be involved in a scam)

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Bara said..
So looking at dipping my big toe in on the cryptos and wondering what exchanges you guys have ended up using. Initial looking sees the fees are pretty huge -

ie to get from AUD to a wallet means fees anywhere from 2% up to 6% via ccards or bank transfers
to actually get bitcoins on the couple exchanges ive looked at has buy sell spreads of up to $100.

So are there any reasonable sites out there that youve found or is pretty much the state of the market right now?

Hahaha.

Lost your guts on dot com.

Dipped your toe into crypto on 16 Oct this year and three weeks later you are an authority on ICOs and a crypto trading expert?

Do you even know what an ICO is?

You are the fraud, have you even got skin in the game yet?

Pfffft

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Bara said..
No crypto i didnt lose my guts as you put it from a weakhand or whatever i just gave back 80% of my profits when the bubble burst. Everyone knew it was a house of cards but you still get caught out. Just like you will.

I'm no expert on ICOs but what you have shown here is that you aren't either. Far from it in fact.

But you are a wonderful insight into some of the traders in crypto so thanks really.

I am an expert in energy trading and risk management though so this particular ICO is one of the few I can get my head around and frankly it's pretty concerning if this can get $34m in throwaway money.

I have to assume many other ICOs have a similar lack of substance yet garner funding also. This is even more concerning.

You will lose your shirt eventually. Just please come back here and tell us all about it.

No I cant, My original input of $15K was pulled out in late October, Just after you entered the market.

I am free flying with around $60K in market now

So how can I lose Mr. big toe dipper?

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cryptotrader said..

Bara said..
No crypto i didnt lose my guts as you put it from a weakhand or whatever i just gave back 80% of my profits when the bubble burst. Everyone knew it was a house of cards but you still get caught out. Just like you will.

I'm no expert on ICOs but what you have shown here is that you aren't either. Far from it in fact.

But you are a wonderful insight into some of the traders in crypto so thanks really.

I am an expert in energy trading and risk management though so this particular ICO is one of the few I can get my head around and frankly it's pretty concerning if this can get $34m in throwaway money.

I have to assume many other ICOs have a similar lack of substance yet garner funding also. This is even more concerning.

You will lose your shirt eventually. Just please come back here and tell us all about it.

No I cant, My original input of $15K was pulled out in late October, Just after you entered the market.

I am free flying with around $60K in market now

So how can I lose Mr. big toe dipper?

So much of a joke I retired at 42 from my trading profits in the energy game. My book was in the 10s of millions not 10s of thousands. Honestly you have no clue how much of a trading parody you are.

No paradox let's not close it there's alot to be learned here....

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Bara said..

So much of a joke I retired at 42 from my trading profits in the energy game. My book was in the 10s of millions not 10s of thousands. Honestly you have no clue how much of a trading parody you are.

No paradox let's not close it there's alot to be learned here....

Now you are multi millionaire who has to ask how to dip your big toe into crypto on a watersports forum. lol

Can you understand that it's all a bit hard to believe?