Cryptocurrency (10 Viewers)

[swag]

Oh, this eval / takedown in today's newsletter from RealLife Mag is so on....

Thanks to the suddenly intensifying economic downturn, some of the more dubious money-making strategies previously presented as "innovative" are being re-evaluated (i.e. fled from). The crypto crash is an obvious example: What was frequently touted as a hedge against inflation and stock market dips turned out to be a loss multiplier. It seems that crypto investors were not intent on building a decentralized alternative to the financial system after all but were just the usual suspects from the standard financial system looking for yield under conditions where conventional (i.e. actually socially useful) investment opportunities appeared to be insufficient to their greed. And as usual, that provided for scams designed to evade financial regulation so as to target novices, exploit their hope and desperation, and drain their resources away. In other words, crypto has been and will continue to be a way to replay the 2008 global financial crisis, only without requiring the pretense of building houses first in order to create risky financial bets.

 

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[Siamak]

Oh, this eval / takedown in today's newsletter from RealLife Mag is so on....

crypto is just like stock but essentially worthless in value.

 

[.zero]

Sorry bruv but that’s an incorrect generalization

 

[duranfj]

crypto is just like stock but essentially worthless in value.

Worthless? There’s not even technology at the level require but over expensive gadgets… blockchain + AI is the future of everything

 

[Siamak]

Worthless? There’s not even technology at the level require but over expensive gadgets… blockchain + AI is the future of everything

maybe in the future, but right now i prefer to keep my cash in my pocket . crypto is like playing in vegas few gets rich the rest are sucking carrots.

 

[duranfj]

maybe in the future, but right now i prefer to keep my cash in my pocket . crypto is like playing in vegas few gets rich the rest are sucking carrots.

I’ll give you that… there’s a lot of pain in the crypto world, at least in Vegas you may enjoy the ride

 

[.zero]

maybe in the future, but right now i prefer to keep my cash in my pocket . crypto is like playing in vegas few gets rich the rest are sucking carrots.

It’s different than any other asset class or traditional security.

The only people making money rn are those on the other end of the over leveraged plays. They are owed for the cascading liquidations on fool hardy calls made by chads, whales, and institutions

 

[swag]

Pay no attention to the man behind the curtain.

 

[Siamak]

I’ll give you that… there’s a lot of pain in the crypto world, at least in Vegas you may enjoy the ride

I still have bitcoin on my wallet. I invested 2 yrs ago. I don't care even if it goes to zero.

 

[.zero]

That’s how you should treat all investments. Don’t invest more than you are willing to lose. Don’t be Icarus

 

[duranfj]

Pay no attention to the man behind the curtain.

100%

Let them have their fight. If they manage to keep BTC at this level and it bounds from here, good, buy your ticket and jump in the wave. If they fail and BTC drops harder, let’s see from the fence what players like microstrategy, tron, coinbase, Gemini and others can do

Invest? No way imho. Short? Per etre

 

[Siamak]

It’s different than any other asset class or traditional security.

The only people making money rn are those on the other end of the over leveraged plays. They are owed for the cascading liquidations on fool hardy calls made by chads, whales, and institutions

I know those who buy after them, won't see the same success. because eventually when people start to sell to cash in their tokens, the value will be lost. People are being misled. I recieve ton of messege on telegram from scammers that giving me financial advice and trying to get me to invest crypto.

 

[duranfj]

I still have bitcoin on my wallet. I invested 2 yrs ago. I don't care even if it goes to zero.

if it goes to zero, buy them all just in case

 

[Siamak]

Pay no attention to the man behind the curtain.

Bots out in full force thanking some scam artist crypto "guru."

 

[campionesidd]

BTC can’t go to zero soon enough. For those invested in crypto, sorry guys, but all pyramid schemes eventually collapse.

 

[Strickland]

BTC can’t go to zero soon enough. For those invested in crypto, sorry guys, but all pyramid schemes eventually collapse.

Imo NFTs is a pyramid scheme, cryptos not so much.

 

[Quetzalcoatl]

It's not real money unlike the dollar

 

[pavelnel]

Imo NFTs is a pyramid scheme, cryptos not so much.

More than 10 000 brands of distributed data ledgers and most of them do the same thing while being extremely inefficient and wasteful, relying entirely on constant fiat money flows to keep them operational, are not pyramid schemes?
Add to this no intrinsic value, no barriers to entry and no regulation or oversight, mostly supported by financially and economically illiterate young men. Yeah, no pyramid schemes. Just quasy pyramid-Ponzi-MLM schemes.

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[Siamak]

 

[campionesidd]

Imo NFTs is a pyramid scheme, cryptos not so much.

At least in the case of Bitcoin, it’s a negative sum game, especially now with mining being so unprofitable. So the only way you can make money is by pumping and dumping it or getting lucky with market timing.