Cryptocurrency (14 Viewers)

[Quetzalcoatl]

I just follow what Dru says

 

Buy on AliExpress.com

[AFL_ITALIA]

If crypto and world market is down who is benefiting from it?

People buying puts.

Known in some circles as "gay bears"

 

[swag]

If crypto is a scam then trad Fi is a full institution of scams

Well, crypto is a scam like trad fi. Just without the "tedious red tape of financial regulation, compliance with anti-money-laundering laws, or being a known and named entity with a bank account".
https://foreignpolicy.com/2022/05/12/cryptocurrency-crash-2008-financial-crisis/

You can change the technology all you want, but the human greed and graft remains the same. Nobody seems to be picking up on this nugget.

trad fi is 100% a tapestry of ponzus and scams

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No different than retail day traders on Twitter or r/Wallstreetbets

Everyone is milking the system. That's human nature. Over many more years, trad fi has accumulated a few lessons to partly (if not ineffectually) weed out abuses baked into the system. That's about the only difference from crypto. The people, and particularly the hype men and con artists, are much the same.

 

[Siamak]

Well, crypto is a scam like trad fi. Just without the "tedious red tape of financial regulation, compliance with anti-money-laundering laws, or being a known and named entity with a bank account".
https://foreignpolicy.com/2022/05/12/cryptocurrency-crash-2008-financial-crisis/

You can change the technology all you want, but the human greed and graft remains the same. Nobody seems to be picking up on this nugget.



Everyone is milking the system. That's human nature. Over many more years, trad fi has accumulated a few lessons to partly (if not ineffectually) weed out abuses baked into the system. That's about the only difference from crypto. The people, and particularly the hype men and con artists, are much the same.

people still believe in the all holy money printer.

 

[.zero]

people still believe in the all holy money printer.

That’s because the vast majority of people are not financially literate (yet alone literate) and don’t understand or know how the current decrepit financial, monetary systems work

 

[Siamak]

That’s because the vast majority of people are not financially literate (yet alone literate) and don’t understand or know how the current decrepit financial, monetary systems work

yeah i agree, having knowledge and High analysis skills. same way goes for FOREX trading. You lose if you sell when it's down. when you hold you won't lose anything. When it rises again, just put on seatbelt and ride.

 

[Goodfella]

That’s because the vast majority of people are not financially literate (yet alone literate) and don’t understand or know how the current decrepit financial, monetary systems work

How can one not understand the obvious fallacy of fiat funny money that is not backed by anything and can be printed at will skyrocketing inflation? Plus debt.

That's just simple arithmetics.

 

[campionesidd]

El Salvador is one of the poorest countries in the Americas and is of the most violent in the world.

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Looks like the latest CPI report destroyed crypto markets.
So much for being a hedge against inflation.

 

[.zero]

“real builders build now” - CZ

 

[Quetzalcoatl]

Binance halting withdrawals eh? "Stuck transaction"

 

[Cerval]

Binance halting withdrawals eh? "Stuck transaction"

Binance is shady.

 

[Quetzalcoatl]

Binance is shady.

Who isn't at this point?

 

[Cerval]

Who isn't at this point?

For on ramp once you get back to canada, use shakepay

 

[Quetzalcoatl]

For on ramp once you get back to canada, use shakepay

Thanks, I'll check it out.

Binance was previously considered safe, no?

 

[Cerval]

Thanks, I'll check it out.

Binance was previously considered safe, no?

By most people yeah, like its big and does have reputation at least for an exchange. But ive read horror stories with customer support, frozen accounts and funds especially with binance.us

 

[.zero]

Binance halting withdrawals eh? "Stuck transaction"

CZ was transparent about the issue and the fix being delivered

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By most people yeah, like its big and does have reputation at least for an exchange. But ive read horror stories with customer support, frozen accounts and funds especially with binance.us

The inherent risk of any(all) CEX

 

[swag]

Note to self: rename thread to "Kleptocurrency"

 

[campionesidd]

So what happens now if Michael Saylor gets margin called? And if Celsius gets liquidated? And Tether loses its peg.
could BTC actually go to zero?

 

[duranfj]

So what happens now if Michael Saylor gets margin called? And if Celsius gets liquidated? And Tether loses its peg.
could BTC actually go to zero?

Tether depeg and I’ll wait BTC at four low figure for sure… for now USDN and USDD are depeged

 

[swag]

For on ramp once you get back to canada, use shakepay

If that was on the other side of the Poutine Curtain, it sounds like something that came out of Nancy Pelosi.

So what happens now if Michael Saylor gets margin called? And if Celsius gets liquidated? And Tether loses its peg.
could BTC actually go to zero?

We need some meme-stock--level margin call decimation of Saylor Boy. That would be pretty dang funny.