Bitcoin crash coming (1 Viewer)

[Lemonzest]

I used to think Bitcoin was the future also. I still believe in crypto, but I think a different crypto that isn't out yet will be the future. What would cause people to switch to bitcoin for literally everything? I think the governments would create a crypto well before they let that happen.

Using a government created crypto would totally defeat the purpose. One of the primary strengths of crypto (not just bitcoin) is the decentralized nature. I believe in the concept of a decentralized crypto which isn't attached to a specific country or company. It doesn't have to be bitcoin. The power is in the structure which is a secure platform. Bitcoin just happens to be the biggest one right now.

Google having its own crypto would also defeat the purpose. What happens when they elect a bad CEO or one of their proudcts flops? That will directly effect the value of the currency which is a problem. The same issues arise when currency is attached to a political system. Trump initiates a trade war with China which in turn effects the value of the USD. That is a problem for the currency.

What people want/need is a secure way to exchange value that isn't tied to any government or company. That is what decentralization means. Bitcoin is still volatile as it is still relatively young, however at least the volatility we see with bitcoin is based on actual market activity. The USD will increase/decrease in value because of the federal reserve adjusting the interest rate or printing more money.

There are many angles to it. However, I see all of them favoring some form of decentralized crypto being the future.

 

[saleen121212]

Using a government created crypto would totally defeat the purpose. One of the primary strengths of crypto (not just bitcoin) is the decentralized nature. I believe in the concept of a decentralized crypto which isn't attached to a specific country or company. It doesn't have to be bitcoin. The power is in the structure which is a secure platform. Bitcoin just happens to be the biggest one right now.

Google having its own crypto would also defeat the purpose. What happens when they elect a bad CEO or one of their proudcts flops? That will directly effect the value of the currency which is a problem. The same issues arise when currency is attached to a political system. Trump initiates a trade war with China which in turn effects the value of the USD. That is a problem for the currency.

What people want/need is a secure way to exchange value that isn't tied to any government or company. That is what decentralization means. Bitcoin is still volatile as it is still relatively young, however at least the volatility we see with bitcoin is based on actual market demand. The USD will increase/decrease in value because of the federal reserve adjusting the interest rate or printing more money.

There are many angles to it. However, I see all of them favoring some form of decentralized crypto being the future.

I understand all of that. Do you really think the US government would ever relinquish the control of money? Do you think companies will start paying people in fractions of BTC? It would need to be a lot more stable which it would be with mass adoption. Or are you saying normal currency would still exist, but BTC would be mainstream also?

 

[Lemonzest]

I understand all of that. Do you really think the US government would ever relinquish the control of money? Do you think companies will start paying people in fractions of BTC? It would need to be a lot more stable which it would be with mass adoption. Or are you saying normal currency would still exist, but BTC would be mainstream also?

I think about it in terms of new technology making old technology irrelevant. Most offices still have a fax machine however their usage has slowly diminished year after year to the point where jokes are made when someone request information be sent via fax. Andreas makes this point in the video I posted above and he is exactly right.

The internet was an emerging technology at one point as well and people were skeptical about it. Over time the internet has become common place and we all just accept that it has provided a much better way of doing things. The internet has made fax machines (among other things) obsolete effectively.

Companies already are paying employees with crypto and that will only increase.

National fiat currencies are not going anywhere for a long time as they have their place in the global system. However, for personal use I think cryptos will start to take over pretty quickly here in the next 5-10 years. There is an issue with volatility but that is not a problem solely with BTC. Many national fiat currencies fluctuate and become debased over time as well. I would much rather have my net worth in BTC than Venezuelan Bolivar which went through the floor. Time and time again we see national currencies fail for a variety of reasons.

 

[saleen121212]

I think about it in terms of new technology making old technology irrelevant. Most offices still have a fax machine however their usage has slowly diminished year after year to the point where jokes are made when someone request information be sent via fax. Andreas makes this point in the video I posted above and he is exactly right.

The internet was an emerging technology at one point as well and people were skeptical about it. Over time the internet has become common place and we all just accept that it has provided a much better way of doing things. The internet has made fax machines (among other things) obsolete effectively.

Companies already are paying employees with crypto and that will only increase.

National fiat currencies are not going anywhere for a long time as they have their place in the global system. However, for personal use I think cryptos will start to take over pretty quickly here in the next 5-10 years. There is an issue with volatility but that is not a problem solely with BTC. Many national fiat currencies fluctuate and become debased over time as well. I would much rather have my net worth in BTC than Venezuelan Bolivar which went through the floor. Time and time again we see national currencies fail for a variety of reasons.

I mean I hope you are right. All interesting points and the tech fascinates me. Right now my large investment of X dollars is worth 1/7th of what it was when I invested, so I don't intend on pulling that money ever, but I have thought about adding more on a dollar cost average schedule, something like weekly to average out buying times.

 

[Lemonzest]

If BTC goes down to 8k USD then I will be buying more. Just making a public note of that here.

 

[saleen121212]

If BTC goes down to 8k USD then I will be buying more. Just making a public note of that here.

Looks like it is basically there. If we get another shot at 5k and 3k I will load back up.

 

[Payback]

Poking my head back in this thread to shill one of the best alt coins out there Wagerr (WGR). This crypto has an actual use case and is going to change the sport betting world.

For the sports better out there this is an anonymous sports betting cryptocurrency. It has no limits, boundaries, and the best part is you can't be banned for winning! Wagerr also gives you a chance to Be The House by owning a Masternode, which earns a fee of each percentage bet on the network.

This year betting went live, and has moved from a very limited QT wallet (20 events at most) to the new Electron wallet (unlimited). Due to the transition betting was shut down for a fee months, but since electron went live betting volume has increased this week. This week we will surpass 10 million WGR bet on the platform (~5% of supply) in a week. That's $700k USD bet in a week at current pricing. Currently betting is going on in Football, Soccer, Mma, Baseball, NHL, Esports among other sports.

Advertising is just starting to ramp up with a guerrilla marketing campaign and sponsoring of a poker tournament next week at the cosmopolitan

As always DYOR, but you can check out more details with the Wagerr Binance Listing proposal.

Wagerr has been offering a free 250 WGR if you download the Electron wallet and post your address in the listed Telegram group. That's about $17.50 at current value which is good for 10 bets at the minimum 25 WGR.

 

[saleen121212]

What exchange other than coinbase do you guys use now that binance is done with US?

 

[Lemonzest]

What exchange other than coinbase do you guys use now that binance is done with US?

I use Kraken.

 

[Payback]

Poking my head back in this thread to shill one of the best alt coins out there Wagerr (WGR). This crypto has an actual use case and is going to change the sport betting world.

For the sports better out there this is an anonymous sports betting cryptocurrency. It has no limits, boundaries, and the best part is you can't be banned for winning! Wagerr also gives you a chance to Be The House by owning a Masternode, which earns a fee of each percentage bet on the network.

This year betting went live, and has moved from a very limited QT wallet (20 events at most) to the new Electron wallet (unlimited). Due to the transition betting was shut down for a fee months, but since electron went live betting volume has increased this week. This week we will surpass 10 million WGR bet on the platform (~5% of supply) in a week. That's $700k USD bet in a week at current pricing. Currently betting is going on in Football, Soccer, Mma, Baseball, NHL, Esports among other sports.

Advertising is just starting to ramp up with a guerrilla marketing campaign and sponsoring of a poker tournament next week at the cosmopolitan

As always DYOR, but you can check out more details with the Wagerr Binance Listing proposal.

Wagerr has been offering a free 250 WGR if you download the Electron wallet and post your address in the listed Telegram group. That's about $17.50 at current value which is good for 10 bets at the minimum 25 WGR.

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Android betting app public beta got released this morning.

https://github.com/wagerr/WagerrWalletAndroid/releases/tag/241

 

[WedgeRock]

/Installed

Please xfer money so I can start betting.

Kthanxbai.

 

[Payback]

/Installed

Please xfer money so I can start betting.

Kthanxbai.

Post your address up in their telegram page. They've been sending 250 WGR ($20 at current prices), enough for 10 minimum bets to all new members. I'm not sure how much longer this promo will be running so get it while you can.
https://t.me/wagerrcoin

 

[WedgeRock]

Dafuq?!

 

[WedgeRock]

 

[Payback]

Dafuq?!

View attachment 359443

Click up here, then hit copy.

In the thread just say your new and saw the post on Twitter and would like 250 wagerr. They big wigs are in Vegas for the crypto conference, so it might take a bit, but I'll shoot some over for you in the interim.

Also, events usually go up 24-48 hours in advance so check Thursday for the bulk of the NCAAF stuff.

 

[John Zoidberg]

Hey, has anyone on this forum accepted (or paid with) BTC (or other crypto) as payment for PCF transactions?

I don't have many of those USD's, but I do have the odd satoshi.

And because digital assets are worthless / a ponzi scheme / the devil, I may as well trade them for some useless pieces of clay.

 

[Lemonzest]

Hey, has anyone on this forum accepted (or paid with) BTC (or other crypto) as payment for PCF transactions?

I don't have many of those USD's, but I do have the odd satoshi.

And because digital assets are worthless / a ponzi scheme / the devil, I may as well trade them for some useless pieces of clay.

I deal in BTC and so does Rainmantrail (Travis)

 

[WedgeRock]

Woooooooooot!

 

[Payback]

Woooooooooot!

View attachment 359997

Glad Mark was able to hook you up. Enjoy! Sounds like you are one of the last people to get 250. I think it's dropping to 100 WGR moving forward.

 

[WedgeRock]

I already lost money... My 250 WGR was at $20 when it was given. Now it's at $19.49...

Are you affiliated with Wagerr?

 

[Payback]

I already lost money... My 250 WGR was at $20 when it was given. Now it's at $19.49...

Are you affiliated with Wagerr?

Nope. Just really like what I see. Very few cryptos have a use case AND a working product. Therefore I think this project is highly unique and at current pricing is way undervalued.

The wallet multiples out WGR by current exchange pricing so if the price goes up so will your wallet balance. Likewise if it goes down.

I believe in Q4 there will be some way to swap your WGR in the wallet to some sort of stable coin so if you aren't betting you can lock them in at current USD value.

 

[WedgeRock]

This week we will surpass 10 million WGR bet on the platform (~5% of supply) in a week.

Glad Mark was able to hook you up.

^^^ That's why I asked...

 

[Lemonzest]

Nope. Just really like what I see. Very few cryptos have a use case AND a working product. Therefore I think this project is highly unique and at current pricing is way undervalued.

The wallet multiples out WGR by current exchange pricing so if the price goes up so will your wallet balance. Likewise if it goes down.

I believe in Q4 there will be some way to swap your WGR in the wallet to some sort of stable coin so if you aren't betting you can lock them in at current USD value.

What is the benefit over BTC? I already load sports books with BTC and play that way. I can see the benefit of playing anonymously so you don't get limited once you start winning.

 

[Payback]

^^^ That's why I asked...

I've been around since ICO and follow closely so I know who's around. I've been a beta tester for a few of the platforms so I know most of the team via chats. The fact that its gambling related means I can help out a bit.

What is the benefit over BTC? I already load sports books with BTC and play that way. I can see the benefit of playing anonymously so you don't get limited once you start winning.

You definitely highlighted one of the biggest points, anonymity. Once a bet is placed its locked into a smart contract which means it can't be terminated for any reason a bookie decides.

1) Full control of funds.

Every wallet is your own, which means you have full control of your funds at all times. No Full Tilt or Absolute situation happening here.

2) It has its own blockchain.

Therefore it can't be slowed down by Cryptokitties, or other crap. By keeping out external factors you can also help keep transaction fees down, which is important when betting. For example, Augur (REP) is built upon the Ethereum network. At one point places a single bet would cost the equivalent of about $45 as the network was clogged up and required a high amount of gas.

Transactions on WGR network cost 0.002 WGR or around $0.00016. The other advantage is it keeps a record of all bets placed on the blockchain. Therefore you can see how much has been bet on each game, at what odds, etc. That means if someone wanted to prove they were a winning sports better, they could actually do so.

https://explorer.wagerr.com/

2) Better odds than traditional books because fees are lower.

Standard books juice 10%. Wagerr is at 6% on chain betting. Once Head to Head betting gets released that was be at 2%.

3) Limitless.

Basically due to the way its built as long as you have an internet connection you can bet, which relates back to anonymity. Therefore in countries, or states where sports betting is illegal you are still able to bet. In addition, there is no restriction to how much you can bet. Wanna dump 100k on a game, go for it. There are already punters betting $10k+ USD on events on the network without restriction.

4) Opportunity to Be the House!

I spend a lot of time in casinos and always wanted a piece of the rake. This is a way to do that.

Every bet that gets place is charged a fee. Of the 6% mentioned above 3% gets placed into a fund. On Friday's that pot gets divided up to Masternode holders (eventually will be Oracles) who are supporting the network. It requires locking up 25,000 WGR. Basically you are getting a portion of all the action for supporting the network. Last Friday each masternode got 44WGR in addition to the block rewards that are paid out (2.85WGR per ~40 hours). ROI for Masternode holders at is around 10% right now.

Due to the fact that a portion of bets are burned, it creates a deflationary currency model. They also have added a lottery, and other games (dice, etc.) will be coming soon of which are all deflationary as well.

Here's the example the team created for a 100WGR bet at 2.50 odds or +150.

 

[Lemonzest]

I've been around since ICO and follow closely so I know who's around. I've been a beta tester for a few of the platforms so I know most of the team via chats. The fact that its gambling related means I can help out a bit.



You definitely highlighted one of the biggest points, anonymity. Once a bet is placed its locked into a smart contract which means it can't be terminated for any reason a bookie decides.

1) Full control of funds.

Every wallet is your own, which means you have full control of your funds at all times. No Full Tilt or Absolute situation happening here.

2) It has its own blockchain.

Therefore it can't be slowed down by Cryptokitties, or other crap. By keeping out external factors you can also help keep transaction fees down, which is important when betting. For example, Augur (REP) is built upon the Ethereum network. At one point places a single bet would cost the equivalent of about $45 as the network was clogged up and required a high amount of gas.

Transactions on WGR network cost 0.002 WGR or around $0.00016. The other advantage is it keeps a record of all bets placed on the blockchain. Therefore you can see how much has been bet on each game, at what odds, etc. That means if someone wanted to prove they were a winning sports better, they could actually do so.

https://explorer.wagerr.com/

2) Better odds than traditional books because fees are lower.

Standard books juice 10%. Wagerr is at 6% on chain betting. Once Head to Head betting gets released that was be at 2%.

3) Limitless.

Basically due to the way its built as long as you have an internet connection you can bet, which relates back to anonymity. Therefore in countries, or states where sports betting is illegal you are still able to bet. In addition, there is no restriction to how much you can bet. Wanna dump 100k on a game, go for it. There are already punters betting $10k+ USD on events on the network without restriction.

4) Opportunity to Be the House!

I spend a lot of time in casinos and always wanted a piece of the rake. This is a way to do that.

Every bet that gets place is charged a fee. Of the 6% mentioned above 3% gets placed into a fund. On Friday's that pot gets divided up to Masternode holders (eventually will be Oracles) who are supporting the network. It requires locking up 25,000 WGR. Basically you are getting a portion of all the action for supporting the network. Last Friday each masternode got 44WGR in addition to the block rewards that are paid out (2.85WGR per ~40 hours). ROI for Masternode holders at is around 10% right now.

Due to the fact that a portion of bets are burned, it creates a deflationary currency model. They also have added a lottery, and other games (dice, etc.) will be coming soon of which are all deflationary as well.

Here's the example the team created for a 100WGR bet at 2.50 odds or +150.

View attachment 360173

Gotcha. So this is more than just another crypto, they are actually building the whole bookie around the blockchain technology with some unique features. Very cool.

 

[saleen121212]

Only 2000 bucks for a master node. Want

 

[saleen121212]

Tell me more @Payback. Where do you buy wagerr? Where do you store it for a master node? How do you cash out into usd?

 

[Payback]

Tell me more @Payback. Where do you buy wagerr? Where do you store it for a master node? How do you cash out into usd?

Best exchanges to buy at this point are Crex24, Coinsuper, or Livecoin.

As far as storage you would need to download and use the QT wallet to manage a masternode, eventually only the Electron wallet will be needed.

Cashouts at this point go in reverse as on boarding. Wallet -> Exchange - > Trade WGR to BTC -> BTC to USD -> Bank.

Buying/selling is the biggest weakness at this point. Team is trying to rectify this with their Binance DEX proposal. In addition, the team has set up a more traditional book at https://www.slickbet.com/ that should allow for an easier on boarding process/cashout as well too.
However this information was leaked by a former team member and a release date hasn't been made officially public yet.

 

[saleen121212]

Best exchanges to buy at this point are Crex24, Coinsuper, or Livecoin.

As far as storage you would need to download and use the QT wallet to manage a masternode, eventually only the Electron wallet will be needed.

Cashouts at this point go in reverse as on boarding. Wallet -> Exchange - > Trade WGR to BTC -> BTC to USD -> Bank.

Buying/selling is the biggest weakness at this point. Team is trying to rectify this with their Binance DEX proposal. In addition, the team has set up a more traditional book at https://www.slickbet.com/ that should allow for an easier on boarding process/cashout as well too.
However this information was leaked by a former team member and a release date hasn't been made officially public yet.

Why can't they let you buy/trade from the app? I don't know a ton about crypto as I haven't been following it for the past several months, but it seems it would be a million times easier and more convenient.

 

[wuffle]

Having their own blockchain could mean a lack of security/decentralization. Malicious actors can try 51% attack (if it’s proof of work)