What do people think about alt coins? V.1 [discussion]

This isn't "new news", because I remember a study back a few years ago stating pretty much a similar thing. I think in that study they said that in the top pairs (can't remember how many pairs), something like 80-90% of the trades that were analyzed were probably wash sales. Things like proliferation of KYC help lower the instances of wash sale manipulation, but not all exchanges implement it or it's not enforced very well in some cases.

But if you can manipulate a price on a crypto on an exchange as large as, say, Kucoin or Binance, where they may not necessarily enforce KYC, that would affect the price of the coin on other exchanges, too. So it's not a question of whether or not the crypto is manipulated on a US exchange - it's whether or not the fact it's being manipulated on any major exchange is affecting its global price. A few years ago, I was willing to bet most of the market was manipulated, and with the way things trade up and down together whether there's news or not, some/much of it may still be.

 

Link to article...https://arxiv.org/abs/2108.10984

Another defi exchange got hacked. I subscribe to ahcastor on Twitter. She does a lot railing against crypto and won't likely make me any money, but it does help me understand the people side of these Trustless Institutions and sometimes reads more like a cyberpunk novel.

https://thefintechtimes.com/defi-users-exploited-for-12-billion-elliptic-report-finds/

 

I hope so. It's been tanking long enough.

 

Foreplay is over.

 

I'm still scared about the inevitable yearly sell off on some up n coming weekend. Started looking for names in case it happens though.

 

"I'm thinking of an alpha-numeric character..."

I love such detailed and specific tweets that can be interpreted in one of 50 ways. lol. Of course it's Pomp, so a volcano erupting in the middle of Manhattan would be a sign that crypto is going up to him.

 

If you only sub and watch one crypto channel on YouTube, it should be EllioTrades. Guy consistently nails trends way before they peak.

 

Couldn't hurt to pick up some SingularityDAO. Very solid growing team.

 

Crypto diversification:

 

please keep the NFT scam out of this thread. thank you!

 

I'm fairly sure you have no idea what NFTs actually are.

 

I think NFT art/products are dangerous. Another smokescreen for people with less wealth to get addicted to and fooled by. Cant keep up with the Jones' the traditional way, not if houses 4x, so let's flex digital real estate instead. I'm not saying you shouldn't invest in it or enjoy it, but... c'mon. Again, speaking about art/products specifically.

Imagine if Moestavern, the dude who spent his entire life trying to achieve "Hakeem" status before anyone else had access to CF-only NFT's on this forum. He'd probably leverage everything so he could lease a Hakeem NFT for 6 months. Living out of a trailer, or under a bridge, just to flex.

DOOMED.

 

I feel like I'm on the outside looking in when it comes to NFTs. I didn't buy triple digit ETH, so throwing them around for collectable json rights or tamagotchis doesn't seem simple for me.

There's incredible potential if more orgs with established brands monetize it but that koopatroopa guy in the interview (Elliot looks like a stay at home Luigi...) @Xerobull posted on this page makes a lot of sense in how that landscape might shift more to content creators...and by extention large IP holders.

I dunno, I got brain fog over learning most hard-sounding things nowadays.

Definitely something to keep an eye on, and if I can learn how to feel comfortable buying them, I wouldn't mind throwing around some change on it.

 

Cryptosification.

 

Can I uh...still buy that donkey with a sombrero to lock in my gainz?

 

Is that the one with the shades or the one smoking a joint? The one smoking a joint is more rare -- I'll give you 1.5 ETH for it... wait... ETH just crashed... I'll give you 2 ETH for it... wait... ETH just crashed again... 3 ETH.... dammit... ETH is back up.... 1.7 ETH? Plz.