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Forex - A negative sum game for losers

  • #561
  • Edited Nov 16, 2022 12:14am Nov 15, 2022 1:19am | Edited Nov 16, 2022 12:14am
Quoting gepards
{quote} just put solar panels or wind turbine and earn good money {quote}
Thanks for your dumb post. For it is the perfect example for common stupidity from crypto advocates. (edited)

Today we can see 4.5 bitcoin transactions per second. Wow, fkn amazing! At this transactions rate, the power consumption is about 150'000'000'000'000 kwh, which is the energy consumption of Argentina. Ok.
Now, transactions made with Visa only, average 1,700 per second. This is ~377 times over than the number of transactions in bitcoin.

Do the fkn math, how many Argentina's power consumption we need to feed that trumpeted bitcoin global adoption as money !! At 45 million Argentina's people population x 377 is the 17 billion people's consumption amount...

BTW, happy birthday, y'all !! I've just seen the news, today, we are 8 billion people on this planet ...and solar and wind barely accounts for 10% of global power generation in 2021.

Anyway, is not a matter of time for a change in resource's volume. Time will bring some, but never enough for crypto. The point is that we'd need 2 planet's resources only to feed bitcoin as money ...Two planets ...only for bitcoin transactions, forget about core industry and homes !

That's why PoW at scale is absurd.

...and you momoz still rephrase and twist proverbs and other hype stuff in your favor and talk about adoption, scale, money.......
Quoting gepards
{quote} you can set up solar panels in Argentina.. there are plenty of sunny days there {image}
Sure, everybody loves the sun ...and 10% of global power is just a start
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  • #562
  • Edited 12:16pm Nov 15, 2022 10:24am | Edited 12:16pm
Quoting TudorIoan
{quote} Thanks for your dumb post. For it is the perfect example for common stupidity from crypto advocates. Today we can see 4.5 bitcoin transactions per second. Wow, fkn amazing! At this transactions rate, the power consumption is about 150'000'000'000'000 kwh, which is the energy consumption of Argentina. Ok. Now, transactions made with Visa only, average 1,700 per second. This is ~377 times over than the number of transactions in bitcoin. Do the fkn math, how many Argentina's power consumption we need to feed that trumpeted bitcoin global...
you can set up solar panels in Argentina.. there are plenty of sunny days there

Attached Image (click to enlarge)
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  • #563
  • Nov 15, 2022 2:20pm Nov 15, 2022 2:20pm
Quoting gepards
{quote} you can set up solar panels in Argentina.. there are plenty of sunny days there {image}
The problem is the industry that generates the solar panels and materials that comprise them are using resources that are in limited supply, and crypto is a regressive concept. It replaces competing for gold through warfare with competing for a limited supply of digital currency through competitive intentionally difficult calculation, and if anyone wins that game, the ledger cannot be trusted anymore. Those solar panels should be used to help people get their needs met, not satisfy the psychotic whims of people who don't understand how modern money works and treat currency like a speculative investment.
  • #564
  • Edited 2:27am Nov 16, 2022 2:12am | Edited 2:27am
Quoting Max0r
{quote} The problem is the industry that generates the solar panels and materials that comprise them are using resources that are in limited supply, and crypto is a regressive concept. It replaces competing for gold through warfare with competing for a limited supply of digital currency through competitive intentionally difficult calculation, and if anyone wins that game, the ledger cannot be trusted anymore. Those solar panels should be used to help people get their needs met, not satisfy the psychotic whims of people who don't understand how modern...
I agree that BTC is a dinosaur.. consumes most of the electricity. And BTC is not truly decentralized. There exists much faster and truly "for simple people" cryptos..

Quote
Another environmentally energy-efficient cryptocurrency to be aware of is Stellar. Stellar remains one of the most-searched crypto projects globally due to its first-mover status. For those unaware, Stellar has made a name for itself in the payment processing space, attempting to revolutionize cross-border transactions.
Thanks to Stellar’s super-fast system, network users can send money anywhere, with transactions taking just five seconds to be processed. What’s more, these transactions cost just a fraction of a cent to complete – much cheaper than using the SWIFT network. Thanks to this innovative technology, Stellar has gone on to partner with leading institutions like IBM and MoneyGram.

ETH already did the migration to new technology:

Quote
The recent ‘Ethereum merge' saw the network move to a Proof-of-Stake (PoS) consensus protocol. This removes the problems associated with crypto mining energy consumption since Ethereum's blocks are now validated through staking. As a result, Ethereum's energy requirements are now drastically lower than before.
To put this into context, a recent report by CNN notes that the network will now use around 99.95% less energy than when it used a Proof-of-Work (PoW) consensus mechanism. In turn, this reduced crypto energy consumption has driven Ethereum into the limelight, helping change people's perceptions of the crypto market.

BTC will be migrated to PoS like ETH did and all will be fine.

Blockchain is awesome technology for digital assets - no more money printing and 100% trust in data
  • #565
  • Nov 17, 2022 12:19am Nov 17, 2022 12:19am
Quoting gepards
{quote} I agree that BTC is a dinosaur.. consumes most of the electricity. And BTC is not truly decentralized. There exists much faster and truly "for simple people" cryptos.. {quote} ETH already did the migration to new technology: {quote} BTC will be migrated to PoS like ETH did and all will be fine. Blockchain is awesome technology for digital assets - no more money printing and 100% trust in data
Yeah, yeah, after some pathologically crazy hype, now they moved to PoS as they realised that PoW is doomed.

Ok, I got news for you. PoS overall is vulnerable like any other traditional system.
Truth is that everything outside of PoW is weak and centralised even by definition. Rotten grounds.
And this is common knowledge. Although an encrypted ledger involved, I wouldn't even call that PoS system as crypto.
And the whole crypto financial system which becomes more and more subject to the same risks as traditional finance is weak now.
Sure, many attempts to quit that broken toy, bitcoin. But it can't be fixed.

On the other hand, yeah, a financial asset on PoW is a great thing. But money isn't....yeah!
Member
  • #566
  • Dec 12, 2022 11:26am Dec 12, 2022 11:26am
An other interesting crypto regulation issue:

Eva Kaili, a VP of the European parliament currently heaving serious legal problems in regards to potential bribery from Katar. She also had a leading role on crypto regulation in the EU. Let that sink in. Surprised?

I am not surprised....the crypto industry certainly bribed politicans too to influence regualtion. This would be the absolute base case in my opinion. The EU parliament is certainly not the only place where they try to influence regulation to allow their scam reach the next level.

So the suitcases full of money might be traced to such actors too. Don't forget to look for wallets and crypto activity on their phones, computers laptops and USB sticks...

https://de.cointelegraph.com/news/ta...ica-regulation
  • #567
  • Dec 19, 2022 5:12pm Dec 19, 2022 5:12pm
Today two events will make histroy:

1. Event: J6 Committee makes CRIMINAL REFERRALS against Donald Trump, John Eastman + more co conspirators

1. Obstruction of an official proceeding
2. Conspiracy to defraud the United States
3. Conspiracy to make a false statement (fake electors)
4. Incite, assist or aid an Insurrection

Even the already public footage clearly shows all evidence required to reach a criminal conviction on all counts in my opinion. There is even material for more, but this should do it to finally put enough nails in the coffin. If the US Justice System fails on this one, we know for sure that some people are obviously above the law in America.

So nothing to celebrate yet, but it moves in the right direction. If this process gets completed, Dumpy & Company, as well as all involved making this possible, are finally fucked. And of course, Mingary would have been proven dead wrong - his 7 years of marketing efforts would finally blow up in smoke.

2. Event:
Musk, the once richest man on earth, is getting a absolutly clear 57.5% of 17.5 Mio votes on a Twitter poll telling him to step down as head of twitter. That was a clear and loud "fuck off - Elmo". I think large parts of the public finally start to wake up about him... Unclear how this ends, but options could be:

  1. he ignores the poll and claims.... sorry, just joking.
  2. he brings in a right wing CEO, completely under his control and even escalates his effort to transform Twitter into his personal propaganda tool and Neuralink interface to the public
  3. he runs the company completely into the ground till Chapter 11
  4. he has to sell Tesla shares (and bitcoin) to fill the holes in Twitter, SpaceX, Solar and Boring, cascading into a margin call
  5. he completly melts down quitting or is forced to quit all CEO positions

So two narcicists, pathological liars and grand masters in self marketing, both with cult like followers, are getting some serious beating from a increasingly woke public (and I mean woke in a positive sense), who starts to ask the right questions and draw the right conclusions. They will soon start to blame their faillure on others.

  • #568
  • Dec 20, 2022 2:04am Dec 20, 2022 2:04am
Quoting HudithePfupf
Today two events will make histroy: 1. Event: J6 Committee makes CRIMINAL REFERRALS against Donald Trump, John Eastman + more co conspirators 1. Obstruction of an official proceeding 2. Conspiracy to defraud the United States 3. Conspiracy to make a false statement (fake electors) 4. Incite, assist or aid an Insurrection Even the already public footage clearly shows all evidence required to reach a criminal conviction on all counts in my opinion. There is even material for more, but this should do it to finally put enough nails in the coffin. If...
people leave, but this thread will go on for ever
  • #569
  • Dec 20, 2022 2:38am Dec 20, 2022 2:38am
Quoting HudithePfupf
Today two events will make histroy: 1. Event: J6 Committee makes CRIMINAL REFERRALS against Donald Trump, John Eastman + more co conspirators 1. Obstruction of an official proceeding 2. Conspiracy to defraud the United States 3. Conspiracy to make a false statement (fake electors) 4. Incite, assist or aid an Insurrection Even the already public footage clearly shows all evidence required to reach a criminal conviction on all counts in my opinion. There is even material for more, but this should do it to finally put enough nails in the coffin. If...
Oh my ... the walls are closing in, the walls are closing in ...
And now we have TDS + MDS, this is an NPC's dream come true
BTW, is this what Cenk said ? Cenk ? is that you ?
  • #570
  • Dec 20, 2022 2:42am Dec 20, 2022 2:42am
Quoting Aussi
{quote}
Glad to make you happy for a moment.... I know your life is hard enough.
  • #571
  • Dec 20, 2022 2:53am Dec 20, 2022 2:53am
Quoting HudithePfupf
{quote} Glad to make you happy for a moment.... I know your life is hard enough.
not as hard has some who write comic strips
people leave, but this thread will go on for ever
  • #572
  • Dec 20, 2022 2:55am Dec 20, 2022 2:55am
Quoting Mingary
{quote} Oh my ... the walls are closing in, the walls are closing in ... And now we have TDS + MDS, this is an NPC's dream come true BTW, is this what Cenk said ? Cenk ? is that you ?
Ohh wow, Cenk must do an exceptional job. But you Mingy Pingy, you obviously fail again. Your p.....n propaganda employer should start thinking about a reduction in non- productive workforce.

Your TDS and MDS and NPC favourite deflection has worn out... try something new. Be a little bit creative, old man.
  • #573
  • Dec 22, 2022 4:02pm Dec 22, 2022 4:02pm
Quoting TudorIoan
{quote} Thanks for your dumb post. For it is the perfect example for common stupidity from crypto advocates. (edited) Today we can see 4.5 bitcoin transactions per second. Wow, fkn amazing! At this transactions rate, the power consumption is about 150'000'000'000'000 kwh, which is the energy consumption of Argentina. Ok. Now, transactions made with Visa only, average 1,700 per second. This is ~377 times over than the number of transactions in bitcoin. Do the fkn math, how many Argentina's power consumption we need to feed that trumpeted bitcoin...
Yes, I agree but what about proof of stake or other mechanism. I think that progress in adoption will inevitably lead to new solutions how to verify transactions, you know it is two-way feedback process otherwise it is catch 22 situation - no adoption no progress
  • #574
  • Dec 27, 2022 6:14am Dec 27, 2022 6:14am
HudithePfupf!

You did not meet any profitable forexplayer?i know at least 3 who are in profit summarize in forex.
They are not wining more million euro, but if they summerize they income from forex they are in absolut profit.
There is a guy who made 300 000 euro in 2008-2009 during the crisis, there is another guy who made 150 000 eur on the bitcoin (and later they are also making profit but not such big profit).
THere is another guy who is making 3-4000 euro monthly.

You did not meet similar traders?
  • #575
  • Dec 27, 2022 6:31am Dec 27, 2022 6:31am
Quoting HudithePfupf
An here the overview July 2019 on how bad the situation really is for retail traders: {image}
uhh this is very cool pivot
  • #576
  • Dec 27, 2022 9:06am Dec 27, 2022 9:06am
Quoting Tylerz
{quote} uhh this is very cool pivot
Well, this is just one month.... it repeats every month and the winners of the last month have no higher probability of being winners in the next month. So looking at a 5 year periode, none of them makes money.... we are talking about 99% losing money and the 1% can be still explained by pure luck, not skill.

In reality, the picture looks even more dramatic, as soon as leverage enfolds its destructive nature:

Quoting HudithePfupf
Here a number to quantify the damage in the crypto crash of May 19th 2021.
Wanne stay in the game with such odds?

Retail forex trading is a negative sum game for losers.
  • #577
  • Dec 27, 2022 3:21pm Dec 27, 2022 3:21pm
Quoting HudithePfupf
{quote} Well, this is just one month.... it repeats every month and the winners of the last month have no higher probability of being winners in the next month. So looking at a 5 year periode, none of them makes money....
where is the statisctic what you are speaking about?
i have seen only 2 month where 24% of the traders were profitable.


Otherwise i dont know what you would like prove, but as i said i know at least 3-4 traders who are in profit.
And yes they are not earning 1 million euro in every month but they are in massive profit....you dont know similar traders? if not then find some.
It is not easy to find. But maybe you can begin looking for based on the trader word cup championship (https://www.worldcupchampionships.com/).

Otherwise, who are playing daytrade probably they are move to futures, this is much better for daytrade (regulated market,. better charges, etc.).
  • #578
  • Dec 28, 2022 2:05am Dec 28, 2022 2:05am
Quoting Tylerz
{quote} where is the statisctic what you are speaking about? i have seen only 2 month where 24% of the traders were profitable. Otherwise i dont know what you would like prove, but as i said i know at least 3-4 traders who are in profit. And yes they are not earning 1 million euro in every month but they are in massive profit....you dont know similar traders? if not then find some. It is not easy to find. But maybe you can begin looking for based on the trader word cup championship (https://www.worldcupchampionships.com/). Otherwise,...
Hi, there, Tyler! So you know 3-4 traders in profit...
Sure, and I know a guy who knows a guy, who knows another guy who is in profit... nice, huh?

What does that mean ? Exceptions ? Only a few exceptions ? Basically, only exceptions.
Hudi comes here with the stats. of a whole lot of a retail crowd, not only exceptions. Pretty verisimilar, I'd say.

Secondly, so you know a couple of guys, alright, ...but I know myself, mate. I'm a fkn "winner"! So I got this EA which stays in profit since 2014. But it stays alive only on some particular settings. Two or three particular settings. But for how long it will keep going like this ? Because if you use the same strategy with some other also "smart" reasonable settings, ...it fails. It fails in a couple of years. That's the problem. It's a trap. It works "consistently" enough to make you think it's some kind of "forever consistent" thing that allows you to make a living out of it. Only but is not forever. There's no such thing. It's just a matter of time for it to hit the margin or even loses the original investment. And so you are wasting all of your earnings in say, two years. There's the trap. Which I suppose it might be fun for rookies like me with small money, but not for an experienced trader.
So it's obviously a matter of luck, ultimately. Ok, an extended type of luck. Because all those "best strategies" are in fact only pushing the risk further in time. Rolling a hot potato, delaying fatality... hoping the market will filp in your direction at some lucky point. But sometimes it never comes in your direction and the black swan streak of bad outcome just hits your margin.
Allover, it's not about skill, it's just luck. Nothing more!

"Best strategies" are in fact only pushing that common 50% risk further in time.
There's no real edge in the FX retail game.
So, although I have a funny winning trading strategy synthetized in some funny restless robot since 2014,
I too would argue that retail forex trading is a negative sum game for losers...
Member
  • #579
  • Edited Dec 29, 2022 12:30am Dec 28, 2022 3:12am | Edited Dec 29, 2022 12:30am
Quoting pizd0s
{quote} Yes, I agree but what about proof of stake or other mechanism. I think that progress in adoption will inevitably lead to new solutions how to verify transactions, you know it is two-way feedback process otherwise it is catch 22 situation - no adoption no progress
Frate Pizdos, ...come on, everybody knows that the PoS protocol of validation leads to more vulnerability in crypto. Because the individual (or group) stake value criteria actually leads to centralization.
That makes a wide range of attacks way much worse than PoW and more possible, ...shit like Long-Range, Alternative History, Alternate History, History Revision, Nothing at Stake, Bribery attacks...

It's common knowledge that the proof of stake model is less secure compared to the proof of work!!

If then proven less secure, who needs more fraudsters, crooks, greedy morons???... Even with the PoW thing it gets hard to stay safe!!!
...I mean, just look at this Fried guy (predestined name), FTX’s management was so fkn centralized. Everything was into the hands of one man, its founder. It was effectively run as a personal fiefdom of that dumb-crook-face, Bankman-Fried.

They just can't help themselves and fuck everything up, don't they !!

Only the PoW remains "sacred".
Member
  • #580
  • Edited 12:28pm Dec 28, 2022 5:52am | Edited 12:28pm
Quoting TudorIoan
{quote} Hi, there, Tyler! So you know 3-4 traders in profit... Sure, and I know a guy who knows a guy, who knows another guy who is in profit... nice, huh? What does that mean ? Exceptions ? Only a few exceptions ? Basically, only exceptions. Hudi comes here with the stats. of a whole lot of a retail crowd, not only exceptions. Pretty verisimilar, I'd say. Secondly, so you know a couple of guys, alright, ...but I know myself, mate. I'm a fkn "winner"! So I got this EA which stays in profit since 2014. But it stays alive only on some particular settings....
please tell me any other industry where u can make money without develop your business without change your company . you have follow always the market in every industry , you can not use the same receipt always
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