0x1f9d7a6ad062c81d5cafeafabd4608dfa5440d3f

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35616621)

the whole crypto bubble has made me rich but it hasn't changed my life. i still struggle to think of ways to spend my money. if i lost all my crypto tomorrow i'm not sure what i'd do differently. maybe eat out less.

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35616716)

long term (3-5 years) still bullish, but we need to see all the scamcoins go to 0 and all the dumbasses bankrupted. a handful of cryptos have the potential to be ginormous.

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35616730)

the best analogue to crypto in financial markets is gold. during the financial crisis gold sharply fell because the market fled from anything that wasn't liquid. i suspect in a financial crisis we'll see crypto fall sharply during the liquidity crunch phase and then rebound. if the crisis unleashes inflationary as opposed to deflationary forces then i'd expect crypto to rally.

so, it depends.

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35616860)

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35616659)

second, black market flows aren't such a huge problem that governments feel compelled to ban cash. it will take a long time before that happens, especially in the u.s. where there is a strong tradition of privacy.

also for that reason i don't think non-government cryptos will be outright banned. the problem is akin to piracy: governments could stamp out piracy if they imposed draconian restrictions on the internet, but there is too much support for a free and decentralized internet that any efforts by western governments would lead to massive outcry. crypto has already achieved enough critical mass that any effort to criminalize/ban non-government coins would face stiff resistance. see what happened in south korea.

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35616770)

$700 million

this is if both launched right now. obviously the value at which they'll trade will depend on the state of the crypto market at the time.

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35616806)

you literally made millions off of this shit? how did you get into this in the first place?

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35616726)

yes. i got in in 2016 by buying ETH at $10.

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35616864)

zilliqa deserves to trade at a much higher market cap than a lot of other $1 bn+ tokens.

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35616818)

Are you still of the view that smart contract protocols, eg eth/xtz/Zil, will eclipse those geared largely towards store of value?

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35616777)

yes. smart contract platforms are better in nearly every way. bitcoin has tremendous network effects and mindshare but they are being eroded by the lack of innovation.

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35616829)

Which poster do you think gatormo is an alt of?

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35616792)

no idea. i suspect gatormo doesn't poast under his main very much.

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35616894)

WGWAG WGWAG

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35616961)

1) pay off a massive tax bill i expect to pay for 2018

2) opportunistic liquidity to buy crypto if it crashes moar

3) high valuations in most financial assets.

i have however invested money into the markets via a quantitative momentum/trend following strategy i developed and have run over the past few years.

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35616993)

you can load transactional data into certain software services (cointracker.io, contracking.info, bitcoin.tax) and it'll compute that stuff for you.

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35617122)

cointracking.info

bitcoin.tax

tokentax.us

libratax.com

several i'm forgetting and new ones coming out each week

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35617124)

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35617108)

that said, a lot of crypto d00ds have quickly adjusted to their newfound fake wealth and don't appreciate how lucky they are. im just happy i turned some real money into fake money and then back into a shitton more real money.

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35617145)

Ty ty friend. From one wgwag to another

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35617231)

there's gambling, drug dealing, tax evasion, capital flight, money laundering. and then there are a not inconsiderable number of libertarian kooks who support decentralized currency just because. those uses alone would easily support $100 billion in "value" for crypto.

now, if crypto was only used to break the law governments would crack down hard. fortunately there's enough excitement over decentralization (most of it is bs) and speculative fervor that has drawn a lot of "normies" in crypto which has forced governments (except authoritarian ones like china) to accommodate crypto. so ironically all this nonsensical speculation has made crypto genuinely useful to a wide swathe of people.

now why is eth useful. because you get all that functionality and you can build smart contracts on it. most of the smart contracts right now are mostly for financial/speculative purposes but i expect gambling to become a huge, huge part of crypto. in fact, crypto speculation is mostly a form of gambling, a high-tech version of pachinko.

even if crypto's "fundamental" value is derived from mostly unsavory sorts, at a certain point crypto becomes liquid enough that it becomes a genuinely useful way of storing and transferring value. i could see a future in which financial institutions transfer value on public blockchains for the same reasons they transmit data over the internet and not exclusively private networks (though there is a lot of that still).

obviously this is a speculative bet. i've become increasingly confident, however, that crypto is here to stay simply because so many people have been drawn into it. there is a little slice of millions of people's brains that is infected with the crypto virus and the numbers are only growing.

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35617248)

but why is eth valuable? it's supposed to be used as "gas" for smart contracts. it's a utility token, a resource, and we do not see many resources acting as a store of value in mature economies.

at some point it needs to be used and will have to justify its value through use. by needing justification, its vulnerable to fail. it can be killed by competitors or it can die through failures of its own. you do NOT want your store of value being susceptible to dying because it was kicked to the curb as a lot of cutting-edge tech is.

you have not explained a broad framework for why it will be used. why are decentralized applications needed fundamentally? what is its range?

you have not explained why the ecosystem will be top-heavy instead of a series of cheap forks incentivized by a broad pool of talent relative to the easy profits that there is to be made.

you have not explained why existing or new consensus mechanisms that don't need mining won't invalidate the need for a native asset on the blockchain.

you have not examined token economics and created a quantitative model of valuation beyond hand-waving about "network effects"

you have not explained why alternate forms of inflation and token issuance won't be greatly more desirable for actual use .

SO MANY UNANSWERED QUESTIONSs i'm pretty sure crypto is DONE HERE

(http://www.autoadmit.com/thread.php?thread_id=3920132&forum_id=2#35617301)