You mean your investment in a fake currency created satirically as a joke and featuring the face of a dog on the logo didn’t pan out???!
Wow. Big news if true.
Wow. Big news if true.
Bitcoin and other Crypto (cont.)
- Thread starter Tskware
- Start date
Good one.
I pretty clearly acknowledged I invested without much knowledge based on how people I knew had made money. It was also with funds that were expendable. You get credit for being an asshole tho I guess. FTR, my shiba and doge investment was much less than BC and Cardano.
Sounds like my situation. My $5500 is now $1300 so I'm going to let it ride. Most is in Cardano - was betting on their upgrades/releases last year to move the needle but that was very temporary.
Going to hold at this point and see what happens.
My buddy always proudly says this and acts excited about it yet it never reaches the heights it had last year or even comes close to it, if I recall correctly.
Yeah no buying on the dip for me.
I knew the volatility was an issue and it was very much a high risk/high reward scenario. Who knows maybe it will come back around in about 10 years 😂
When the dip is deeper than the Grand Canyon it’s better to just jump off the cliff wall.
No offense to anyone who may have fell victim but you have to be dumber than s*** to fall for this.
As far as crypto itself, I never gave it serious thought but once people started peddling Dogecoin, NFT's and virtual real estate, I knew a portion of the space was rigged.
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If you make a widget for a dime and sell your widget for a dollar you will become a millionaire. If you don’t make widgets but tell people they are worth $5.00 and their is a shortage of them and the price is going up, but you can sell them some, you will be a billionaire. But everyone who paid $25.00 for the widget when the news comes out it is worthless will go bust except the guy who bought early and sold at $24.00, those guys are called stockbrokers. Didn’t anyone learn anything in economics 101?
my economics professor at UK said you can dig a hole in the middle of a field and that is all it is, a hole in a field. But you can put a fence around it, put a tent over top of it and charge $5.00 to look in the hole. That out of 100 people, 10 people will say they got cheated, 40 people will see a hole and love it and 50 people will see Elvis laying in the bottom.
my economics professor at UK said you can dig a hole in the middle of a field and that is all it is, a hole in a field. But you can put a fence around it, put a tent over top of it and charge $5.00 to look in the hole. That out of 100 people, 10 people will say they got cheated, 40 people will see a hole and love it and 50 people will see Elvis laying in the bottom.
Which professor? Cause that’s the dumbest effing thing I’ve ever heard and I think I know which professor would have said it.
They’ll obviously go up again. Might be mid-to-late 2020s but we will rise again. Diamond hands baby. House money. See y’all on the moon in a few years.
Can’t remember his name but I remember he came to UK from Wharton Business School and had a real dislike for stockbrokers.
Can you cash it out though? From what I’ve seen a lot of the exchanges are locked still so even if you want out you’re stuck right?
This was one of the main reasons I never invested. It seemed very difficult to ever convert coin to cash if you wanted to cash anything out. Also iirc one of the major exchanges went belly up in this crash too.
The other main reason was I knew government would never let this thrive for long. They were going to either regulate the hell out of it and/or intentionally destroy it. Looks like they went option b. Either way, zero chance the fed was ever losing their death grip
That’s conspiratorial nonsense. People who believe in crypto don’t understand the banking system. The Fed is a combination of banks, and at the end of the day, dollars (e.g., bank notes) are backed by the assets of the banks (e.g., your house through a mortgage, collateral from a business loan, etc.). Banks “create money” through economic development (e.g., houses being built). Yeah, inflation happens - especially when economic destruction has occurred (e.g., houses being destroyed during a war) as the bank notes still exist but the assets backing them are gone.
Crypto is not backed by anything. The fed probably looked at it and laughed. If crypto were a real threat, it would establish itself as a global bank and loan out crypto dollars backed by assets. But guess what, the US put a law in place 100 years ago that only the fed can issue banknotes. So it’s US law - set up before computers - that limit what crypto could do here.
Or crashing. Not sure about the locked part but these are businesses that ultimately need capital to survive.
That's an extremely boy scout version of the fed. Did you read that off their informational pamphlet?
Let me guess... you did your research on YouTube. And the Illuminati is behind it all?
Dude... I majored in this stuff in college. One of my professors is now on the Fed board (Christopher Waller). The focus of his class was how the Fed drives decisions on interest rates and in his opinion, the futility of much of it. My uncle (a PhD from U Chicago in Econ) set up banking systems in foreign countries. We spent a lot of time discussing this very topic.
Better than making an infantile comment, why don't you describe which part of what I said was incorrect?
Wrong again. They do all the things you said. Never disputed that. That wasn't the point of contention. They also function in ways the founders never intended.
Zero chance they were letting any crypto force them out of their role of currency control. Less than zero.
How would crypto ever compete with the fed? It doesn’t make sense.
I'm sure they have some very aggressive financing. Considering the novelty and volatility of their asset base, they almost have to.
Probably had a clause in the lending agreement that triggered once their total value dipped below a certain percentage.
Jmo
Another day, another crypto heist: Hacker steals $100 million from Harmony blockchain bridge
And that's not even close to being the biggest crypto hack this year.
mashable.com
Can you imagine being some serf back in 1600's who put his entire family's nest egg down on a tulip? What a loser! Oh wait, that's no different than the crypto people today.
I'll continue to exclusively accept payment in the currency backed by the full faith and credit of the country with the greatest economy and military the world has yet known, thank you very much.
CoinFLEX recovery plan includes tokenized bad debt and more yields
The CoinFLEX crypto investment platform will sell $47 million worth of rvUSD tokens to recover funds lost from a single whale’s account that was not liquidated and allowed to go negative.
cointelegraph.com
Whoa!
watcher.guru
Ruja Ignatova, Founder of OneCoin Added to FBI’s Ten Most Wanted Fugitives List
OneCoin founder, Ruja Ignatova, aka "Cryptoqueen," has now earned a position on the FBI's top ten most wanted fugitives list.
watcher.guru
Here's a question: how much would you need to enjoy your life while on the FBI's Most Wanted list? Like, with $4B, could you be totally comfortable and happy? Or would you be constantly worried?Whoa!
Ruja Ignatova, Founder of OneCoin Added to FBI’s Ten Most Wanted Fugitives List
OneCoin founder, Ruja Ignatova, aka "Cryptoqueen," has now earned a position on the FBI's top ten most wanted fugitives list.
Crypto lender Voyager Digital suspends withdrawals, deposits
Crypto lender Voyager Digital said on Friday it has suspended withdrawals, trading and deposits to its platform andsaid it is exploring strategic alternatives to preserve the value of its platform.
Crypto lender Voyager Digital suspends withdrawals, deposits
Crypto lender Voyager Digital said on Friday it has suspended withdrawals, trading and deposits to its platform andsaid it is exploring strategic alternatives to preserve the value of its platform.www.reuters.com
