Cyprus-Forum.com

[Paphitis]

Shit loads.

Not so much computers, but shit loads of graphics cards in racks, with cooling and ventilation systems,, all consuming power.

I see. Hence the 10000 in power costs.

I don’t know anyone that does it.

I know a fiat exchange trader. He makes money. He has a whole room set up with screens monitoring hourly fluctuations and has gone to the expense of setting alarms etc. His little operation looks like a NASA control room.

On a good day he can make a few thousand in profits.

[miltiades]

XRP will make rich. Listen to the old( not so old) geezer
Before my 80th birthday , in 5 years time I will be a ....multi ...billionaire, and NO fucking debts. Oh boy the blondes with big knockers will be ....queuing up

[Paphitis]

XRP will make rich. Listen to the old( not so old) geezer
Before my 80th birthday , in 5 years time I will be a ....multi ...billionaire, and NO fucking debts. Oh boy the blondes with big knockers will be ....queuing up

Why ripple?

And why not Etherium or Tether? What makes ripple so special?

I think other crypto’s are trying to emulate the rise of Bitcoin but failing miserably. Etherium seems to be going ok though.

[Paphitis]

Anyway lesson learnt!

As soon as Zuckerburg launches the new Facebook crypto, I’m buying 10000 bucks worth.

[Paphitis]

Just found out FaceBook has launched its new crypto. It's called DIEM.

Currently 1 Diem = 1.50 USD

I'm trying to buy some. You just never know.

[erolz66]

I believe that the Crypto markets are the future and that they will increase substantially

The future of something that is out of the control of the government is... ZERO!

I can’t think of anything from the past that acted outside of government control and managed to survive.

If and when crypto becomes significant enough it’ll either be taken over by the government or squashed altogether.

For now it’s a "wait and see" for most countries...

There is already national regulation re crypto and especially the profits from it, it is this evolving regulatory frame work that is bringing in institutional money and driving the price upwards. Regulation, carefully thought out and implemented is good for crypto.

I totally agree. It will eventually be reigned in with tax laws and regulation.

It is already. In almost all countries capital gains tax is due any time you turn crypto into fiat and the centralised exchanges like coinbase report to national tax authorities. Coinbase has more secure kyc systems than revolut does.

As ever paphitis as far as I am concerned you speak from a place of almost total ignorance, not from having put any effort in to actually studying and learning with an open mind. You read a headline or two and your guts says something and that's it for you, conclusion reached, nothing more to be done. This is why you so often come across here to me as a total twat. Do you know anything about 'consensus' and how it relates to crypto. Anything about the difference between 'proof of stake' and 'proof of work' ? Which coins are centralised and which are not ? Which are inflation capped and which are not ? Anything about DeFi, what it is , how it works ? Of course you do not nor do you need to know any of this stuff or bother learning about it before you 'pontificate'. Same old same old.

I suspect that when the balloon does burst, it won’t recover to present levels

I would happily stake 50-75% of my current crypto holdings on an evens bet that bitcoin will reach new all times high in the next 5 years. Hell if they do not in the next 12 months it would be a surprise. There is a reason no one in the world would offer a bet like that but as ever you know better, even from almost total ignorance than everyone else.

I’ve never seen a managed fund in my lifetime not be incrementally much higher over a 5 year period. And records have shown that to be the case since records were recorded.

Show me one that has made anywhere near the returns I have made over the last 3.5 years. You can always invest in safer assets and the returns are lower because of that. That is how it works. Risk reward ratios. Comparing investing in crypto with investing in a manged fund whilst ignoring the relative returns of each is about as dumb a thing as you can do - and yep there you are doing it. Same old same old.

I’d be interested in learning about BTC mining.

cyprus46283.html#p868532 (and yes you are way way too late)

but what I do know is the cost to mine bitcoin varies from country to country because it is partly dependent on electricity rates.

Mining is just a decentralised way of verifying transactions. All mining requires some 'jeopardy' but not all forms of mining require large amounts of electricity. Read up about difference between proof of work and proof of stake to get started. Ether will move from proof of worth to proof of stake , was always designed from day one to make such a transition. There is no reason why bitcoin could not change as well - though if you want to understand how that happens in a decentralised system then you need to read up about consensus and chain forks, hard and soft.

I can’t even conceive that leaving a computer on 24/7 will cost 10000 in electricity. But in any case, haven’t really studied what the energy cost of computers really are.

But you are Paphitis, you do not need to study anything to know you know all the answers anyway.

Just found out FaceBook has launched its new crypto. It's called DIEM.

Currently 1 Diem = 1.50 USD

I'm trying to buy some. You just never know.

Buy in ignorance and lose your money in ignorance. Wise people have said you should only invest to the degree you understand , which in your case would probably limit you to 1.50 usd dollars worth of any crypto.

[Paphitis]

I believe that the Crypto markets are the future and that they will increase substantially

The future of something that is out of the control of the government is... ZERO!

I can’t think of anything from the past that acted outside of government control and managed to survive.

If and when crypto becomes significant enough it’ll either be taken over by the government or squashed altogether.

For now it’s a "wait and see" for most countries...

There is already national regulation re crypto and especially the profits from it, it is this evolving regulatory frame work that is bringing in institutional money and driving the price upwards. Regulation, carefully thought out and implemented is good for crypto.

I totally agree. It will eventually be reigned in with tax laws and regulation.

It is already. In almost all countries capital gains tax is due any time you turn crypto into fiat and the centralised exchanges like coinbase report to national tax authorities. Coinbase has more secure kyc systems than revolut does.

As ever paphitis as far as I am concerned you speak from a place of almost total ignorance, not from having put any effort in to actually studying and learning with an open mind. You read a headline or two and your guts says something and that's it for you, conclusion reached, nothing more to be done. This is why you so often come across here to me as a total twat. Do you know anything about 'consensus' and how it relates to crypto. Anything about the difference between 'proof of stake' and 'proof of work' ? Which coins are centralised and which are not ? Which are inflation capped and which are not ? Anything about DeFi, what it is , how it works ? Of course you do not nor do you need to know any of this stuff or bother learning about it before you 'pontificate'. Same old same old.

I suspect that when the balloon does burst, it won’t recover to present levels

I would happily stake 50-75% of my current crypto holdings on an evens bet that bitcoin will reach new all times high in the next 5 years. Hell if they do not in the next 12 months it would be a surprise. There is a reason no one in the world would offer a bet like that but as ever you know better, even from almost total ignorance than everyone else.

I’ve never seen a managed fund in my lifetime not be incrementally much higher over a 5 year period. And records have shown that to be the case since records were recorded.

Show me one that has made anywhere near the returns I have made over the last 3.5 years. You can always invest in safer assets and the returns are lower because of that. That is how it works. Risk reward ratios. Comparing investing in crypto with investing in a manged fund whilst ignoring the relative returns of each is about as dumb a thing as you can do - and yep there you are doing it. Same old same old.

I’d be interested in learning about BTC mining.

cyprus46283.html#p868532 (and yes you are way way too late)

but what I do know is the cost to mine bitcoin varies from country to country because it is partly dependent on electricity rates.

Mining is just a decentralised way of verifying transactions. All mining requires some 'jeopardy' but not all forms of mining require large amounts of electricity. Read up about difference between proof of work and proof of stake to get started. Ether will move from proof of worth to proof of stake , was always designed from day one to make such a transition. There is no reason why bitcoin could not change as well - though if you want to understand how that happens in a decentralised system then you need to read up about consensus and chain forks, hard and soft.

I can’t even conceive that leaving a computer on 24/7 will cost 10000 in electricity. But in any case, haven’t really studied what the energy cost of computers really are.

But you are Paphitis, you do not need to study anything to know you know all the answers anyway.

Just found out FaceBook has launched its new crypto. It's called DIEM.

Currently 1 Diem = 1.50 USD

I'm trying to buy some. You just never know.

Buy in ignorance and lose your money in ignorance. Wise people have said you should only invest to the degree you understand , which in your case would probably limit you to 1.50 usd dollars worth of any crypto.

That;s the problem. Managed funds make returns since their inception.

Nowhere near the returns that bitcoin has.

And that is the key difference. managed funds are safer. They are an investment product. I don't consider bitcoin as an investment product like you do. It's not some product I would funnel my life savings into, but I would do that into managed funds which invest in Australian and American Shares (ASX, Nasdaq and Dow Jones).

Bigger returns, also mean bigger falls. So I'm waiting for the inevitable collapse of BTC. You can stake your bottom btc that it will happen. We just don't know when it will happen. Because it has been a meteoric rise, I anticipate a gigantic fall. Just don't have a clue when.

managed funds go up and occasionally down. But much safer. We are all invested in managed funds here in Australia. The industry is quite developed here. We call it superannuation. Every family and person who has worked in Australia has one. I've NEVER seen one lose money. Like NEVER. Yes they can have their overnight falls. And a collapse could even mean a sizable drop of up to 20%. But over time, it just keeps going up and up. The average for the products I have selected is 11% per year. When I say average, its a 10 year average.

You also get tax breaks by adding more money into these managed funds by our Government. Only up to $25000 though. Which allows you to reduce your tax by a lot. Let's say you are on a marginal tax bracket of 30%, that's an extra $7500 in tax breaks every year on top of the profit. That encourages people top put money away in these funds which is as good as putting it in the bank.

[Paphitis]

I believe that the Crypto markets are the future and that they will increase substantially

The future of something that is out of the control of the government is... ZERO!

I can’t think of anything from the past that acted outside of government control and managed to survive.

If and when crypto becomes significant enough it’ll either be taken over by the government or squashed altogether.

For now it’s a "wait and see" for most countries...

There is already national regulation re crypto and especially the profits from it, it is this evolving regulatory frame work that is bringing in institutional money and driving the price upwards. Regulation, carefully thought out and implemented is good for crypto.

I totally agree. It will eventually be reigned in with tax laws and regulation.

It is already. In almost all countries capital gains tax is due any time you turn crypto into fiat and the centralised exchanges like coinbase report to national tax authorities. Coinbase has more secure kyc systems than revolut does.

As ever paphitis as far as I am concerned you speak from a place of almost total ignorance, not from having put any effort in to actually studying and learning with an open mind. You read a headline or two and your guts says something and that's it for you, conclusion reached, nothing more to be done. This is why you so often come across here to me as a total twat. Do you know anything about 'consensus' and how it relates to crypto. Anything about the difference between 'proof of stake' and 'proof of work' ? Which coins are centralised and which are not ? Which are inflation capped and which are not ? Anything about DeFi, what it is , how it works ? Of course you do not nor do you need to know any of this stuff or bother learning about it before you 'pontificate'. Same old same old.

I suspect that when the balloon does burst, it won’t recover to present levels

I would happily stake 50-75% of my current crypto holdings on an evens bet that bitcoin will reach new all times high in the next 5 years. Hell if they do not in the next 12 months it would be a surprise. There is a reason no one in the world would offer a bet like that but as ever you know better, even from almost total ignorance than everyone else.

I’ve never seen a managed fund in my lifetime not be incrementally much higher over a 5 year period. And records have shown that to be the case since records were recorded.

Show me one that has made anywhere near the returns I have made over the last 3.5 years. You can always invest in safer assets and the returns are lower because of that. That is how it works. Risk reward ratios. Comparing investing in crypto with investing in a manged fund whilst ignoring the relative returns of each is about as dumb a thing as you can do - and yep there you are doing it. Same old same old.

I’d be interested in learning about BTC mining.

cyprus46283.html#p868532 (and yes you are way way too late)

but what I do know is the cost to mine bitcoin varies from country to country because it is partly dependent on electricity rates.

Mining is just a decentralised way of verifying transactions. All mining requires some 'jeopardy' but not all forms of mining require large amounts of electricity. Read up about difference between proof of work and proof of stake to get started. Ether will move from proof of worth to proof of stake , was always designed from day one to make such a transition. There is no reason why bitcoin could not change as well - though if you want to understand how that happens in a decentralised system then you need to read up about consensus and chain forks, hard and soft.

I can’t even conceive that leaving a computer on 24/7 will cost 10000 in electricity. But in any case, haven’t really studied what the energy cost of computers really are.

But you are Paphitis, you do not need to study anything to know you know all the answers anyway.

Just found out FaceBook has launched its new crypto. It's called DIEM.

Currently 1 Diem = 1.50 USD

I'm trying to buy some. You just never know.

Buy in ignorance and lose your money in ignorance. Wise people have said you should only invest to the degree you understand , which in your case would probably limit you to 1.50 usd dollars worth of any crypto.

Plus I'm not knocking cryptos. I got it wrong when they first launched and could get it wrong again. they could keep going up by a lot for all I know, but at some point the bubble will burst and it will burst big time. That is what I believe.

But for what it is, you can try your luck. just look at it as a gamble with only money amounts you are prepared to sacrifice and lose without crying or bashing your head against a wall.

I'm so intrigued in fact, I have decided to give it a whirl. I have made a coinbase account. And looking at all the charts of the various cryptos. And will put in a nominal investment (I mean gamble) of 2 to 5k. I just don't know in what just yet. Maybe buy some Tether and XRP (Ripple) which will hopefully go ballistic just like Bitcoin has.

But make no mistake about it. It's definitely gambling. Anything can happen. It's not investing the way I see it anyway.

Money placed in managed funds. including the higher risk share portfolio funds are not gambling however. They are investment funds and over time they go up. No 2 ways about it. It may be only 11% each year but that is good. It goes up. And over 30 to 40 years, you will have a rather large amount to retire on.

So no! Cryptos will never replace this form of investing. They are 2 different things. Managed Funds are legit investment products and highly regulated. Cryptos, are gambling as I see it.

[erolz66]

So I'm waiting for the inevitable collapse of BTC. You can stake your bottom btc that it will happen. We just don't know when it will happen. Because it has been a meteoric rise, I anticipate a gigantic fall. Just don't have a clue when.

And some of us have been watching the cycles for years now. An 80% fall from a cycle high is normal with crypto to date, as is the subsequent rise again to new time highs. This is not a share in a company. How many companies have been through 6 cycles of boom and bust with each subsequent cycle an order of magnitude greater than the last. You probably look at charts over the lifetime of bitcoin and do not even see the cycles because the latest high is so big that it makes the previous ones look like blips. This is a shift akin to the industrial revolution but in the realm of finance. You still do not get it. You still think you know better from a position of almost total ignorance.

managed funds go up and occasionally down. But much safer. We are all invested in managed funds here in Australia. The industry is quite developed here. We call it superannuation. Every family and person who has worked in Australia has one. I've NEVER seen one lose money. Like NEVER. Yes they can have their overnight falls. And a collapse could even mean a sizable drop of up to 20%. But over time, it just keeps going up and up. The average for the products I have selected is 11% per year. When I say average, its a 10 year average.

You also get tax breaks by adding more money into these managed funds by our Government. Only up to $25000 though. Which allows you to reduce your tax by a lot. Let's say you are on a marginal tax bracket of 30%, that's an extra $7500 in tax breaks every year on top of the profit. That encourages people top put money away in these funds which is as good as putting it in the bank.

You so want to sound smart don't you Paphitis. It's not working mate.

just look at it as a gamble with only money amounts you are prepared to sacrifice and lose without crying or bashing your head against a wall.

You are 'telling me' stuff I have been saying for years. Still unable to hear though as ever. Only invest / gamble to the degree you understand it. You do not understand it to even 2 dollars let alone 5k - and that is akin to playing the lottery, not investing.

So no! Cryptos will never replace this form of investing. They are 2 different things.

You were the one that first compared crypto to manged funds and started waffling on about managed funds in the first place and when I pointed out they are entirely different you come back with 'they are 2 different things'. The first ETF for ether just went live a few weeks ago. Bitcoin will not be far behind. There are fully regulated futures markets for both already. You just do not get it nor can you have any hope too when you think you already know everything without having to put any effort in to learn or ability to do so with an open mind once your gut has told what reality is.

[erolz66]

https://dailyhodl.com/2021/04/16/crypto ... raoul-pal/