Crypto currency (IF banned from CA)

[YoboCopter]

Anyone who has ever bought crypto of any kind has supported human trafficking and very bad things to young humans.

Anyone whos had a bet or a pint has killed many people!!!

 

[LinekersLegs]

 

[LinekersLegs]

Good to see the classics never die

 

[LinekersLegs]

lol

 

[evilwebby]

The oldest scam known wrapped up in the the newest tech



Literally LFMAO listening to SBF describing how the "box" works

 

[Connor]

Anyone who has ever bought crypto of any kind has supported human trafficking and very bad things to young humans.

@nikom court

 

[verreauxi]

Sam Bankrun-Fraud

When I made my prediction on August 9, I did not expect to be completely right that “SBF’s money is like 400 different loans.” Sam Bankman-Fried did exactly what we feared - he took money from FTX customers’ assets and used it to fund “risky bets by [his] affiliated trading firm Alameda Research.

ez.substack.com

 

[verreauxi]

the only way people will make money on anything is if new investors buy in. I only make money on tsla stock if new investors buy in.

I am not cultist, you asked me to explain why HEX is better than say BTC. I replied with a long, detailed list of reasons why. You don't know what you are talking about with crypto (which I don't blame you for, I did a masters on blockchain) yet instead of engaging in good faith and trying to understand something, within about 30 minutes you resort to 'BUY THE DIP' as if it is some sort of gotcha.

Genuinely curious here, since I don't really know what blockchain is, but was your master's thesis on blockchain in a computer science department, or was it more on something like the sociology or security of blockchain? I guess I just didn't realize blockchain was a thing you could study outside of seemingly very specialized computer science fields.

 

[evilwebby]

The thing is, it's not even that far fetched. If you bought BTC 10 years ago you would have made something silly like 2,000,000 x your money.

Also how is our currency currently created? it is minted out of thin air on a computer screen.

Markets go through cycles, cryptos are much more volatile and so 80-90% dips are par for the course, it is how you have thousands of % returns.

99% of the coins from this cycle will tend to zero forever, just like last cycle and the cycle before. Some will remain and when the market recovers those who buy bottoms and sell tops will make a fortune.

Reminder, I called it in this thread when BTC was near enough the top and have come very close to calling the bottom.

Let's not forget, this past year the FAANG companies have lost about 3 trillion dollars in value, everything is rekt right now.

I get what you are saying about fiat, and I have long been a proponent of sound money, but at least national currencies have the overt backing of the sovereigns issuing them, and by extension are backed by the productivity of the people of that nation. Every time you hand over some amount of GBP in exchange for a pint of milk, or receive GBP for the last hour of labour you produced you a participant in that system.

Cryptos are just a me-too from backroom coders hoping their algorithm that does something slightly different will be mass adopted and make them rich, but ultimately it has no intrinsic value. It may always have a price, but that doesn't mean it has any value. They are not being used for transaction of goods and services, just being bought and sold to other speculators.

 

[YoboCopter]

@nikom court

 

[chicoazul]

AUDIT.

 

[JimmyJeffers]

Happy to pay taxes
Have a neck beard
Am a sweaty hogger
Voted Tory

 

[evilwebby]

the majority of price appreciation on any stock comes from speculation. A small portion comes from dividends and buybacks but the vast vast majority comes from more people buying than selling.

Seen you claim this a few times, and I'm sorry but it's just not true.

Stock prices are ultimately tied to profits. Now, you can sometimes pay 8 times earnings for those profits, and other times 45 times earnings, depending on things like discount rates and animal spirits, but over the very very very long term it is EARNINGS GROWTH that has driven stock price appreciation.

S&P 500 Earnings - 90 Year Historical Chart

This interactive chart compares the S&P 500 index with its trailing twelve month earnings per share (EPS) value back to 1926.

www.macrotrends.net

 

[LinekersLegs]

 

[LinekersLegs]