4 Likes
So glad I dumped my Bitcoin prior to the big collapse.
2 Likes
I reviewed some crypto currency docs back in 2017 and I thought it was too complex for me. I suppose some people understand it better. All blockchain, crypto currencies, digital wallets and so on.
3 Likes
I’ve never touched cryptocurrency. I’m glad.
3 Likes
1 Like
Hes like a bank. Too big to fail lol
Crypto was getting out of hand obviously criminal stuff going on blatantly…
Government has shown a lot of signs regarding regulation. Which is what is needed.
The real project… Bitcoin as an internet protocol for value transfer… Like global money html 1.0…
Completely different then amateur shepherds trying to milk every sheep in the land.
On the most casual level… Bitcoin is like pokemen… Except its just 21 million copies of one pokemon…
Does it have value? Idk.
I see its advantages and its liquidity is pretty solid if your timeframe isnt immediate.
1 Like
On the note of sam bankman-fraud…
Its more telling of how gullible we all are in the face of new technologies… The guy came from a pretty entitled place. Circumstances of affluence breeding an international conman.
Like this wouldnt have gotten so bad if the had set themselves up in the bahamas.
Thankfully the government down there stepped up pretty quick to help convict the guy(in process).
250 million in bail for house arrest at his parents.
Kind of feel bad for him… But yeah capital fraud wrecks lives.
1 Like
People like to say “dont invest moe than you can afford to lose” but what they really dont expect is to actually lose.
People trust these grey area financial platforms far to easily as if there is actually some form of buyer protection like you would get from a credit card company, but nope that is not the case.
1 Like
I don’t understand what is backing these crypto currencies, but I’m afraid that the backing isn’t sound. We can’t reward people for wanting to strong arm the internet.
Yeah its possible for a cryptocurrency to have those sort of features… But it also requires them to be centralized.
Really crypto is just a mess… Its teeming with fraudulent activity… And even in the bull market its more or less a casino.
I think bitcoin will always have some historical relevance… And I think the industry of fraudsters collapsing just highlights why bitcoin is still king of that arena. Bitcoin didnt enable these folks to rip people off with bad coins… And the btc price falling basically wiped them (and unfortunately everyone else out.)
On the other hand bitcoin/crypto has been used to catch a lot of criminals over the years… The US government is actually the largest bitcoin holder just by criminal seizure.
Still waiting on layer 2 protocols to start gaining traction. They wont be perfect either… But it does put in the capacity to hold activity before final settling… Allowing for transaction reversals etc.
That said the world of crypto is the wild west.
1 Like
This topic was automatically closed 14 days after the last reply. New replies are no longer allowed.