Topic: Do people who invest in crypto know it is Bullshit?
Posted by .
Unregistered


The big success stories in the crypto and nft market are publicity stunts paid for by the people who get money when you register. It's advertising to get you to buy their lottery tickets. They are making all the money via fees. A few of you might make a little money but most will not and most who do will lose it. It's already illegal in China. You act like bitcoin hasn't been around for at least a decade. If it was a great investment then it would be inaccessible to joe schmo by now. Crypto is a scam. You are morons. You are going to lose everything you dipshits. China is using TikTok to control your minds for their American client the US government. They are hypnotizing you with underage dancers. You're all going to die. Your mom is going to give head to everyone.


Posted by .
Unregistered


You have no idea what you are talking about. The prices for trading in stablecoins ("tethers") are different for trading in fiat. You can trade in either for either fiat or stablecoins! You have no idea what you are talking about.


Posted by .
Unregistered


If you have to cash out at a lower price then you didn't make 50000 dollars?


Posted by .
Unregistered


Crypto is a tax evasion scheme you are enabling.


Posted by .
Unregistered


. said: You have no idea what you are talking about. The prices for trading in stablecoins ("tethers") are different for trading in fiat. You can trade in either for either fiat or stablecoins! You have no idea what you are talking about.

­
Go to ANY site. Coinmarketcap, for example. They price Bitcoin in US Dollars (main page) but that price isn't calculated from dollars, it is calculated from other coins like tethers. Then Coinbase uses that price to quote a price in dollars. And tethers are "backed" by Bticoin and other coins. It is just a circle jerk to print prices higher or lower, depending on how the big players want to manipulate things to liquidate as many people as possible.

coinmarketcap.com
Look at Bitcoin, price is in US DOLLARS
Then go to https://coinmarketcap.com/currencies/bitcoin/markets/
Look at the prices, top two are BTC/USDT (tethers, fake dollars) and BTC/USB (whatever the fuck that is)

And those prices are used as US DOLLARS even though they are made up shitcoins.

Then 3rd is Coinbase BTC/USD which is actually dollars but they use USDT price as a basis.

All shit.­ But bitcoin tards love the corruption and wouldn't have it any other way. Anyone who buys into any of that shit is a complete moron.


Posted by .
Unregistered


. said: The big success stories in the crypto and nft market are publicity stunts paid for by the people who get money when you register. It's advertising to get you to buy their lottery tickets. They are making all the 

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I GAVE CRIMINALS MONEY FOR "SAFE DRIVE" COINS AND I'M UP 500% IN ONE DAY. I CAN'T LOSE!
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Posted by .
Unregistered


THEY CAN'T MAKE ANY MORE BITCOIN, BITCOIN SV, BITCOIN GOLD, BITCOIN BLUE, BITCOIN DIAMOND, BITCOIN HEX, BITCOIN2 OR BITCOIN CORE!
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:winner:


Posted by .
Unregistered


IT'S DECENTRALIZED, NO CENTRAL CONTROL! AND THE CENTRAL CONTROL IS CHANGING ETH FROM PROOF OF WORK TO PROOF OF STAKE!
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:winner:


Posted by .
Unregistered


And don't forget why Tether got kicked out of New York -- for every $100 invested they only held $2 in reserve, and the other $98 went into space.  So if there is any kind of run, they lack the ability to pay back.  They do not take your money and invest in any other assets.  So they moved offshore and have even less capital reserves -- they refuse to be regulated like a normal brokerage.  

It is just a matter of time until the government shuts that down, they are already clamping down on offshore and private money movements especially if done without anti-money laundering inquiries.  It will be regulated out of existence.  It is a nothing.


Posted by .
Unregistered


Crypto is a scam.


Posted by .
Unregistered


Good to see that someone gets it.


Posted by .
Unregistered


undefined said:
It is just a matter of time until the government shuts that down, they are already clamping down on offshore and private money movements especially if done without anti-money laundering inquiries.  It will be regulated out of existence.  It is a nothing.

­
The scam is too big now. It is a MLM cult that will continue with millions of different coins. All pumped and dumped. Gambling addicts will be all-in.

No money to be made there except by running the scams. The VCs are all-in on pumping money into keeping the scams running and are heavily involved in government now. Eric Adams, new governor of new york, says he wants to be paid in crypto and just flew to Puerto Rico with Brock Piece (of DEN fame, if you didn't know) who has endless crypto. They are all in Puerto Rico because it has no taxes for US citizens.


Posted by .
Unregistered


The real question is who ultimately profits from this scam? I want to invest in the .


Posted by .
Unregistered


I can mine "fake" coins, sell them for "fake" dollars, and use those to buy real GOLD.  Is that real enough for you?


Posted by Without prejudice
Unregistered


I bought 9,115 Bitcoin in 2011 for a total cost of £5,000, as a hedge against the collapse of the fiat monetary system. That collapse is more likely now than ever. If and when it comes I expect to be able to tranasct using BTC. Maybe not with national chains of supermarkets etc, but at that stage, I have never expected supply chains to function, so...

Cliffs: DON'T FUCKING BUY CRYPTO UNLESS YOU KNOW WHAT ITS PURPOSE IS!  CLUE: A CAPITAL GAINS INVESTMENT VEHICLE, IT AINT. YOU DON'T PUT £100 IN YOUR SOCK DRAWER, EXPECTING IT TO BOUBLE ITS VALUE AND MAKE YOU A PROFIT :ROLLEYES: BITCOIN IS MONEY, NOT A GET RICH QUICK SCHEME. CUNTS.
/
Without prejudice


Posted by .
Unregistered


It’s crazy the gains I’ve made in 5 months. All house money now and billions being poorer in worldwide. Only the US or other top country bans it will damage. If Russia China India ban nobody cares they are doge shit.


Posted by .
Unregistered


You can say something is worth $50 all day but it's only really worth what someone is willing to pay for it. How, in an economic collapse, are you expecting to find anyone willing to accept some weird online poker chip for a real live ham sandwich? Nobody is going to buy your monopoly money. You are dreaming.


Posted by .
Unregistered


If the fees to cash out are more than the profit you've made then you have not made a profit.


Posted by .
Unregistered


crypto is a Ponzi scheme. It is nothing but a number in a computer. The whole scheme depends on greedy suckers buying it hoping it will go up. At some point the number of suckers runs out and it collapses.

That is a classic Ponzi scheme.


Posted by .
Unregistered


This thread is meaningless without commentary from Kingmambo. He knows markets.


Posted by .
Unregistered




Posted by .
Unregistered


I work as a developer for a Defi company that's pretty big now in that space. And I can tell you that as much as I enjoy the intellectual and technical challenges of the job, I know that the whole thing is 100% grade-A bullshit. Defi is particularly bad because it presents a facade of legitimacy by imitating traditional financial instruments such as loans, CDOs, and derivatives. These then are backed by USD pegged coins such as DAI. This makes it all sound safe and legit, except when the DAI can no longer maintain the peg because cryptocurrencies crash to 0 (which I believe they will), then the entire Defi ecosystem collapses without the benefit of a "too big to fail" bailout from the government. 

My take is that these things are being put together for pump and dump schemes and/or to allow a shadow economy to exist for the benefit of drug cartels, oligarchs, and ransomware hackers.


Posted by KM.as.a.dot
Unregistered


I'm 150% invested in crypto. Everybody in trading is either doing the same or is in the process. Do likewise, gentlemen. Do likewise.


Posted by .opinions
Unregistered


I would recommend allocation 1 to 5% of your portfolio in crypto.

crypto is highly volatile

don't invest all your investable funds and then see a 10% drop the next day in your net worth.


Posted by .
Unregistered


.opinions said: I would recommend allocation 1 to 5% of your portfolio in crypto.

crypto is highly volatile

don't invest all your investable funds and then see a 10% drop the next day in your net worth.

­
This. Crypto is going nowhere. I don't know any Crypto millionaire living the life of a millionaire because of his crypto-gains.



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