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  1. #6376
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    People use crypto?

  2. #6377
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    Quote Originally Posted by MakersTeleMark View Post
    Depends on what kind of user you are.
    That's very true. Whales dgaf about $100 gas to wash trade apes. But ETH is basically unusable for everyone else. The ETH crowd will claim fees need to be high for decentralization, but ETH is arguably very centralized due to its reliance on Infura. ...among other things. ETH 2 has always been "right around the corner" for as long as I've been in crypto (since 2017). And I don't really see the advantage of using ETH rollups/layer 2s when other layer 1s have much better scalability.

  3. #6378
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    I'd say that ETH, ETH layer 2 and DeFi generally is horribly unuseable. But that's why the returns in crypto and the altcoins, alternate chains etc are so eye-popping. You're buying lottery tickets with potentially moonshot returns and significant go to zero chances; and being rewarded for that risk.

  4. #6379
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    Quote Originally Posted by bennymac View Post
    People use crypto?
    It actually is being used for money transfers in some Central American countries by people I know in lieu of remittances with quite a significant cost savings.

  5. #6380
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    Yeah I'm just being a smartass - like asking if LOTS is still open for biking.

    That^ aspect of crypto is a positive one for sure.

    But seriously - is LOTS still open?

  6. #6381
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    Quote Originally Posted by MakersTeleMark View Post
    Shitcoins, fascinating little beasts.
    Shit birds Randy, Shit birds.

  7. #6382
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    Quote Originally Posted by LeeLau View Post
    It actually is being used for money transfers in some Central American countries by people I know in lieu of remittances with quite a significant cost savings.
    So there IS a use for these things besides day trading to make big bucks.
    I have been in this State for 30 years and I am willing to admit that I am part of the problem.

  8. #6383
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    Click image for larger version. 

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  9. #6384
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    Quote Originally Posted by Bunion 2020 View Post
    So there IS a use for these things besides day trading to make big bucks.
    The person I knew were sending approx 1200 per month to their family around Antigua. Western Union previously would take approx $80. Moneygram was a little more - 100? I can't remember what crypto they were using but their fees are a little over $ 1 per send. That savings goes a long way in Guatemala

  10. #6385
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    Is this the place to talk about NFTs? I have no fucking clue what they are but I've been in a queue for 2 days to buy some Matrix ones. Says I have 34 minutes left to wait, it's like the Vail reservations last fall!

    67,369/100k minted so far, 8975 ahead of me in line. Hope I get some.

    Apparently they are pictures of matrix randos, and on December 16 you can take a red or blue pill to reveal your true self. Yeah I don't know either, but I do know people pay a shitton of money for fortnite pants in-game so why not. Plus the guy who told me about this is batting about .900 on his crypto moves.

    Anyone know what else these avatars are good for, other than showing up on a computer screen in a collection of some sort?

  11. #6386
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    Quote Originally Posted by paulster2626 View Post
    Is this the place to talk about NFTs? I have no fucking clue what they are but I've been in a queue for 2 days to buy some Matrix ones. Says I have 34 minutes left to wait, it's like the Vail reservations last fall!

    67,369/100k minted so far, 8975 ahead of me in line. Hope I get some.

    Apparently they are pictures of matrix randos, and on December 16 you can take a red or blue pill to reveal your true self. Yeah I don't know either, but I do know people pay a shitton of money for fortnite pants in-game so why not. Plus the guy who told me about this is batting about .900 on his crypto moves.

    Anyone know what else these avatars are good for, other than showing up on a computer screen in a collection of some sort?
    Haven't been following that one but looks like it's getting a lot of hype. With mint numbers that high a lot of them are probably going to zero. But some people will get lucky with rares. Guessing the strategy would be go hard and try to flip early and be prepared to not make anything.

    Sent from my Pixel 6 Pro using Tapatalk

  12. #6387
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    NFT's are for real estate, titles, domains of sort, reputations, identities, professional/educational credits, not fucking jpegs. I could maybe see in-game earned attributes, but the rest is just crap. Just my take.

    Also, if you have a local bitcoins offramp, it's a popular service, or a kiosk in your country, sending some usdc will put all remittance services right out of business.
    Is it radix panax notoginseng? - splat

  13. #6388
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    I'm big on utility NFTs. For now this means mostly gaming NFTs and NFTs that earn yields, but eventually could be many things such as real estate deeds. Much less bullish on pure art and collectables.

  14. #6389
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    Bitcoin....who's gotten into it?

    Quote Originally Posted by LeeLau View Post
    The person I knew were sending approx 1200 per month to their family around Antigua. Western Union previously would take approx $80. Moneygram was a little more - 100? I can't remember what crypto they were using but their fees are a little over $ 1 per send. That savings goes a long way in Guatemala
    I think thatís a really fascinating and compelling topic in crypto. But canít get away from also thinking that for every $1,200 being sent for an objective reason, thereís $120M betting on a trifecta.


    Sent from my iPhone using TGR Forums
    Lots of Cream, Lots of Sugar

  15. #6390
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    Quote Originally Posted by stalefish3169 View Post
    Haven't been following that one but looks like it's getting a lot of hype. With mint numbers that high a lot of them are probably going to zero. But some people will get lucky with rares. Guessing the strategy would be go hard and try to flip early and be prepared to not make anything.

    Sent from my Pixel 6 Pro using Tapatalk
    It's just $250 so I don't really care. Way I figure it's a good way to learn how these things work and get moved around.

  16. #6391
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    Quote Originally Posted by paulster2626 View Post
    It's just $250 so I don't really care. Way I figure it's a good way to learn how these things work and get moved around.
    Yeah. That's a good way to look at it. But you can also learn how they work for a lot less if it matters. One piece of advice, the tax implications can be a real pain in the ass once you start dealing with packs and bunches of NFTs. Definitely recommend keeping detailed notes of any sales and avoiding small value transactions that aren't worth the trouble of tax reporting.

    Sent from my Pixel 6 Pro using Tapatalk

  17. #6392
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    Quote Originally Posted by stalefish3169 View Post
    Yeah. That's a good way to look at it. But you can also learn how they work for a lot less if it matters. One piece of advice, the tax implications can be a real pain in the ass once you start dealing with packs and bunches of NFTs. Definitely recommend keeping detailed notes of any sales and avoiding small value transactions that aren't worth the trouble of tax reporting.

    Sent from my Pixel 6 Pro using Tapatalk
    Will do. I live in Canada so things may be easier.

    By the way, want to buy an avatar for a grand?

  18. #6393
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    Quote Originally Posted by paulster2626 View Post
    Will do. I live in Canada so things may be easier.

    By the way, want to buy an avatar for a grand?
    achshually, itís just the naming rights to the avatar

  19. #6394
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    https://twitter.com/BITVOLT7/status/...W8CIKOM_Q&s=19

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  20. #6395
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    Quote Originally Posted by jm2e View Post
    I think that’s a really fascinating and compelling topic in crypto. But can’t get away from also thinking that for every $1,200 being sent for an objective reason, there’s $120M betting on a trifecta.
    Oh for sure. There's so many scams its unfathomable. Jade DAO with a 4 billion % APY? That's a virtual glory hole surprise if I've ever seen one

    Some other use cases I'm investigating with other parties

    - indefeasible title for commercial or private RE transactions replacing title insurance, land titles
    - stock transfers replacing clearing houses, stock transfer agents
    - digital rights managements for creatives (video, photo, music) - directly to the creative
    - Management, transfer, destruction. amendment of online profiles. Stalefish talked about this earlier. For gamers, anyone with an online profile etc
    - Tokenization of various assets for risk distribution. Carbon credits.

    Literally nobody knows where this will go. Or what will succeed or fail. Intellectually it's very interesting but definitely makes one think outside the box

  21. #6396
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    Quote Originally Posted by LeeLau View Post
    Oh for sure. There's so many scams its unfathomable. Jade DAO with a 4 billion % APY? That's a virtual glory hole surprise if I've ever seen one

    Some other use cases I'm investigating with other parties

    - indefeasible title for commercial or private RE transactions replacing title insurance, land titles
    - stock transfers replacing clearing houses, stock transfer agents
    - digital rights managements for creatives (video, photo, music) - directly to the creative
    - Management, transfer, destruction. amendment of online profiles. Stalefish talked about this earlier. For gamers, anyone with an online profile etc
    - Tokenization of various assets for risk distribution. Carbon credits.

    Literally nobody knows where this will go. Or what will succeed or fail. Intellectually it's very interesting but definitely makes one think outside the box
    Great post. For everyone worried about all the scams in crypto, you should just follow Mr. Jamie "Bitcoin is a scam with no intrinsic value" Dimon's advice and invest in precious metals.

    On a more serious note, I'm excited to see some of these music platforms take off and cut out the rent-seeking middlemen.

    https://emanate.live/home

    https://audius.co/

  22. #6397
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    Quote Originally Posted by stalefish3169 View Post
    On a more serious note, I'm excited to see some of these music platforms take off and cut out the rent-seeking middlemen.

    https://emanate.live/home

    https://audius.co/
    how is emanate not a rent seeking middleman? You upload music,they distribute to streaming platforms. That’s a middleman.

  23. #6398
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    I've been in Audius a long time. I'd dump it, but I just leave it for posterity sake.

    Their team sucks, they can't implement basic user controls, they haven't implemented a direct to artist monetization plan, and their governance and node operation is a joke.
    Is it radix panax notoginseng? - splat

  24. #6399
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    On the flip side, I just transferred my 2021 HSA contribution from daily driver bank to Fidelity. Wanted to use some of it to jump on stocks today. But the old fashioned transfer takes 1-3 days. So I wait.


    Sent from my iPhone using TGR Forums
    Lots of Cream, Lots of Sugar

  25. #6400
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    Quote Originally Posted by dunfree View Post
    how is emanate not a rent seeking middleman? You upload music,they distribute to streaming platforms. Thatís a middleman.


    Quote Originally Posted by MakersTeleMark View Post
    I've been in Audius a long time. I'd dump it, but I just leave it for posterity sake.

    Their team sucks, they can't implement basic user controls, they haven't implemented a direct to artist monetization plan, and their governance and node operation is a joke.
    It should be noted that we're still veeeerrrryyy early with respect to all of these platforms and they are not without problems. A good rule of thumb in crypto is to realize that most roadmap dates and even features are pretty dynamic. Almost nothing comes out on time and bugs are pervasive. With that being said, the idea is that under the current paradigm, the middlemen (i.e. FB, Spotify, YouTube, etc.) have all the power, control the algos without transparency, and take over-sized cuts. In the long-run, the hope is that the power will shift back to creators, the algos and internals become public, and creators get much bigger rewards for their efforts. In my estimation, most of this stuff is still 5-10 years out.

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