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Jeremy Falcon19-Dec-22 7:09

19-Dec-22 7:09

History repeats. No matter how much you study. No matter how much you warn people. History repeats. Herd mentality exists. And the last thing people want to do is educate themselves about a situation they place themselves in.

For those retail folks who think brokers and exchanges give two flips about you making money - hopefully this is a wake up call. You can tell who has and who hasn't even taken a seat at the big boys table when they still believe in fairies and unicorn pee when it comes to this.

And yes, I sound poopy. I spent a lot of time being bearish on crypto for past few years and endured a lot of online kiddies arguing. Despite these people never once doing any real study. The herd mentality is so strong, that even I lost money despite knowing better.

That being said, there will be time to be bullish on crypto again (not now). But, the industry needs to grow up a bit. And for all that is right in the world, people need to stop believing brokers and exchanges want you to make money. They don't. They want your liquidity. Period.

Jeremy Falcon

modified 19-Dec-22 13:26pm.

Daniel Pfeffer19-Dec-22 7:50

Daniel Pfeffer

19-Dec-22 7:50

I would add the time-honoured maxim "If it looks too good to be true, it usually is".

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David O'Neil19-Dec-22 8:09

David O'Neil

19-Dec-22 8:09

What is your response to Line Goes Up – The Problem With NFTs? It goes pretty deep into crypto...

Jeremy Falcon19-Dec-22 8:31

19-Dec-22 8:31

I'll have to check that out in a bit. The current machine I'm on goes through a VPN which is blocking that video.

As far as NFTs in general though, what I have learned over the years is that adaptation comes in waves of anything new. You introduce something new... people like it or they don't. The average person needs the illusion of choice. But, the novelty fizzes out. Reintroduce it again later but under a different name/guise/whatever. Look at software activation as an example. Back in the day, so many people hated it. Went to more than one MS conference with "boos" for it. It went away for a while. Came back. Now, nobody cares. And so on.

At the core of it, NFTs are a good thing in the private sector. Just because the dotcom bubble happened, doesn't mean the Web is a bad idea. Same thing here.

The problem lies in the hyperbole and people trying to make it something it's not. People trying to get rich quick is more like a Vegas slot machine pipe dream. And until the hype from the nonsense wears off, nobody will take them seriously since we now associate NFTs with pictures of apes or some other silliness. NFTs are not pictures. They're a means to track something on a blockchain that happen to be used in conjunction with pictures. They can be used for so much more than what the general public understands them to be currently.

But, at its core right now, they're like a GUID on a blockchain that holds metadata. It's a record that points to an image URL that may or may not go offline. I believe they're the future. They'll replace industries such as title insurance when buying a home, because tracking a deed will be so much easier. They'll make it possible for a person to level up a character in one video game and use that in a different video game, etc.

And while it takes the concept of distributed programming to the next level. Perception is what it is.

But, the real future of them will not look like we understand them to be today IMO. That ship has sailed. I'm sure artists and musicians will still want to use them this way, but the tech will need to re-emerge as something not quite so gimmicky.

Jeremy Falcon

modified 19-Dec-22 14:48pm.

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David O'Neil19-Dec-22 9:03

David O'Neil

19-Dec-22 9:03

Jeremy Falcon wrote:
They'll replace industries such as title insurance when buying a home, because tracking a deed will be so much easier.

Why not just have one centralized database containing that information, without any blockchain involved? Logically, that is far simpler, and the technology is proven. Getting people to agree on using that database may be an issue, but so is the question of which blockchain to use. DBs can keep historic records, if set up correctly, and don't use nearly the amount of energy most blockchains currently do.

Watch that video when you get a chance. I didn't think I'd finish it, but I couldn't stop watching once I began. I thought it was highly informative.

Jeremy Falcon19-Dec-22 9:16

19-Dec-22 9:16

David O'Neil wrote:
Why not just have one centralized database containing that information, without any blockchain involved?

Because it defeats the entire purpose of the blockchain - trust. If one person/entity controls that server there is no inherit trust. No one thing should have that much control, not even the government. And without public trust, any tech is worthless.

We've seen it with protein folding at home on CP. We're watching it unfold (pun intended) with quantum computing. Distributed systems are the future. It's a Web 3.0 concept even (not to be confused with the web3 moniker being used). Probably should call it Web 4.0 now, but imagine rather than doing a Google search, instead of sending the query to a Google server to process, the web search happened directly from your browser and was instantaneous. That's the future of the Web. Basically, Skynet. Laugh | :laugh:

David O'Neil wrote:
Watch that video when you get a chance. I didn't think I'd finish it, but I couldn't stop watching once I began. I thought it was highly informative.

Jeremy Falcon

jmaida19-Dec-22 18:57

jmaida

19-Dec-22 18:57

yikes

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Hi all! Been a while....

DaveAuld19-Dec-22 4:01

DaveAuld

19-Dec-22 4:01

Hope everything good with everyone and all gearing up for getting through to hopefully a better 2023 than the chaos thus year has brought everyone.

So, I've obviously been busy on the astrophotography side of things, and not on here as much as in the past, but do still drop in by for a look see periodically.

The last article I did was on the USBSQMServer app I did for the astro related sky quality meter, and have a couple of other software related projects in the pipeline that I hope to do articles on. See what 2023 brings.

On the downside however, I have had a pretty emotional rollercoaster over the last week.

I'm over in Qatar at the moment at work, and meant to be offshore, but sat in a hotel in the moment. I got air ambulance off the platform last Tuesday and tests and scans over the last week have confirmed I had suffered from a stroke. It materialised as loss of visual in my left field of view, but no other physical impact.

Things significantly improved, and the medical facilities and support from my company has been amazing. On a whole bunch of meds and should be able to fly home in around a week. Have a few weeks rest then get back to Qatar for follow-up and all going well return to work, and hopefully be able to get back offshore in the near future.

Came as a bit of a shock, but hey ho, getting old I guess. Big 5-0 tomorrow....

So that's the latest news!

Take care everyone!

Dave
Dave's Astrophotography Channel

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OriginalGriff19-Dec-22 4:41

OriginalGriff

19-Dec-22 4:41

An ex boss refused to to accept his as a stroke, calling it "Porridge on my brain" instead. He didn't have a second stroke in the following 30 years, until his diabetes (and his lack of attention to it) finally took him away a couple of years back.

Sounds like you were in the right place for it, and you'll be fine - really glad to hear that part of your news! How are your family? It must have hit them pretty hard ... Rose | [Rose]

Get well soon - but remember 50 isn't "old" provided you don't take up golf! Big Grin | :-D

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DaveAuld19-Dec-22 5:06

DaveAuld

19-Dec-22 5:06

Cheers griff, family bit shocked as you would expect, eldest daughter took it hard, but fine now, they are all at the wife's family in UK for Christmas, so feeling the cold! Well cold compared to Cyprus at least.

Dave
Dave's Astrophotography Channel

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Mike Hankey19-Dec-22 4:50

Mike Hankey

19-Dec-22 4:50

Sorry to hear of your medical issues, hope all goes well for you.

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Gary R. Wheeler19-Dec-22 5:16

Gary R. Wheeler

19-Dec-22 5:16

Hey Dave, glad to hear you're recovering!

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jeron119-Dec-22 5:27

jeron1

19-Dec-22 5:27

Here's to a quick and complete recovery!

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abmv19-Dec-22 5:46

abmv

19-Dec-22 5:46

take care remember the risk get out while u can

Caveat Emptor.

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Jeremy Falcon19-Dec-22 7:00