Crypto currency (IF banned from CA)

Guess we can put this Fed president in the column “not a fan”
markets.businessinsider.com

Fed's Neel Kashkari says cryptocurrencies are 95% fraud, hype, and noise — and scoffs at being able to create his own 'neelcoin'

Kashkari said he was more optimistic about crypto and bitcoin 5 or 6 years ago, but the fraud, hype, and noise around digital assets changed his mind.
markets.businessinsider.com markets.businessinsider.com
Federal Reserve policymaker Neel Kashkari slammed cryptocurrencies as "garbage" coins late Tuesday and was scornful of the idea that he can create a token of his own and name it "neelcoin."

Kashkari said he hadn't found a sound argument for any practical use for cryptocurrency, responding to a question at the Pacific Northwest Economic Regional annual summit.

"I was more optimistic about crypto or bitcoin about five or six years ago. So far, what I've seen is 99% ... let me be charitable, 95% fraud, hype, noise and confusion," the Minneapolis Fed president said.

Kashkari said it's absurd how "thousands of these garbage coins" are being created. Their main use case is mostly funding illicit activities like drugs and prostitution, he added.
 

DuuuncanHadaPigeon said:
but BTC is supposed to be decentralized, why don't those punters just go buy it themselves, or does bitcoin need banks? Because you said BTC was here to replace banks?

there is 90x more bitcoin (wBTC) on the eth chain than there is in lightning so why would anyone want to use lightning?

That's fine to have an opinion, all I am saying is it is a baseless opinion. For example, do you know what the howey test is? why do you think it will be deemed a security?

This chart is from 16th April to yesterday

View attachment 136393
Click to expand...
unfortunately some people dont have the confidence to buy and store bitcoin and financial institutions will take advantage of this!
there is no btc on the eth chain,its all IOUs,
lightening channels are in your custody,wrapped bitcoin is not,its an IOU for bitcoin held in somebody elses custody!


hex is not a currency, but a security and therefore subject to strict securities and tax laws.
RH (being a US taxpayer) failed to register their premine offer and the sale of billions of HEX to retail investors,
its just matter of time before they catch up with him!
 
LinekersLegs said:
Guess we can put this Fed president in the column “not a fan”
markets.businessinsider.com

Fed's Neel Kashkari says cryptocurrencies are 95% fraud, hype, and noise — and scoffs at being able to create his own 'neelcoin'

Kashkari said he was more optimistic about crypto and bitcoin 5 or 6 years ago, but the fraud, hype, and noise around digital assets changed his mind.
markets.businessinsider.com markets.businessinsider.com
Federal Reserve policymaker Neel Kashkari slammed cryptocurrencies as "garbage" coins late Tuesday and was scornful of the idea that he can create a token of his own and name it "neelcoin."

Kashkari said he hadn't found a sound argument for any practical use for cryptocurrency, responding to a question at the Pacific Northwest Economic Regional annual summit.

"I was more optimistic about crypto or bitcoin about five or six years ago. So far, what I've seen is 99% ... let me be charitable, 95% fraud, hype, noise and confusion," the Minneapolis Fed president said.

Kashkari said it's absurd how "thousands of these garbage coins" are being created. Their main use case is mostly funding illicit activities like drugs and prostitution, he added.
Click to expand...
I pretty much agree - I would agree on his first figure, 99% of coins out there are worthless garbage.
 
nikom court said:
unfortunately some people dont have the confidence to buy and store bitcoin and financial institutions will take advantage of this!
there is no btc on the eth chain,its all IOUs,
lightening channels are in your custody,wrapped bitcoin is not,its an IOU for bitcoin held in somebody elses custody!


hex is not a currency, but a security and therefore subject to strict securities and tax laws.
RH (being a US taxpayer) failed to register their premine offer and the sale of billions of HEX to retail investors,
its just matter of time before they catch up with him!
Click to expand...

Yes wBTC is just an IOU and doesn't that say a lot that there is 90x more bitcoin there than on lightning. People would much rather use a network like ETH to wrap their BTC than use the lightning network.

Capacity does not equal adoption, you can have as much capacity as you want but if no one uses it, the capacity means nothing.

Please, show me how HEX fails the Howey test
 
DuuuncanHadaPigeon said:
Yes wBTC is just an IOU and doesn't that say a lot that there is 90x more bitcoin there than on lightning. People would much rather use a network like ETH to wrap their BTC than use the lightning network.

Capacity does not equal adoption, you can have as much capacity as you want but if no one uses it, the capacity means nothing.

Please, show me how HEX fails the Howey test
Click to expand...
The hex official website even claims that the asset is “designed for 10,000x returns,” something that even the SEC would say fails their Howey test, which helps investors determine if an investment is too good to be true and may be a scam.
www.newsbtc.com

Why This Developer of the Controversial HEX Cryptocurrency – Accused of Scam – Left

The cryptocurrency market is has a wild west atmosphere, rife with hackers, cybercriminals, and scammers galore. The developer of a new altcoin project
www.newsbtc.com www.newsbtc.com
 

'designed for 10,000x returns' is different to saying, 'we gurantee 10,000x returns'

in HEX, there is no expectation of profit from the work of others, and the money invested is not a common enterprise, so no security. The contract is locked with no admin keys it is immutable.

Satoshi designed BTC to increase in price, that's why he introduced the halvening. Every crypto wants the price to increase except they hide behind promises and partnerships, the difference is, HEX is the only crypto to talk about price.

That article also says - 'Any investors thinking about making an investment into HEX, or any cryptocurrency should do their due diligence, including both fundamental and technical analysis to understand how an asset may perform, before taking a position'

Which you clearly have not done, all you have done is google 'is hex a scam' and clicked on the 4th link ( a 2 year old article) on google lol some due diligence there lad
 
DuuuncanHadaPigeon said:
'designed for 10,000x returns' is different to saying, 'we gurantee 10,000x returns'

in HEX, there is no expectation of profit from the work of others, and the money invested is not a common enterprise, so no security. The contract is locked with no admin keys it is immutable.

Satoshi designed BTC to increase in price, that's why he introduced the halvening. Every crypto wants the price to increase except they hide behind promises and partnerships, the difference is, HEX is the only crypto to talk about price.

That article also says - 'Any investors thinking about making an investment into HEX, or any cryptocurrency should do their due diligence, including both fundamental and technical analysis to understand how an asset may perform, before taking a position'

Which you clearly have not done, all you have done is google 'is hex a scam' and clicked on the 4th link ( a 2 year old article) on google lol some due diligence there lad
Click to expand...
its all in the wording,all that pumpamentals nonsense,reminds me of bitconnect!
talking of google it threw this one up
hackernoon.com

Is HEX The Most Notorious Scam in The History of Cryptocurrencies? | HackerNoon

Richard Heart is the BIGGEST CON ARTIST in crypto history...
hackernoon.com

anyway bitcoin is the new bitcoin and hex is the new hex,
its not a zero sum game,its like comparing apples and oranges!
 
nikom court said:
its all in the wording,all that pumpamentals nonsense,reminds me of bitconnect!
talking of google it threw this one up
hackernoon.com

Is HEX The Most Notorious Scam in The History of Cryptocurrencies? | HackerNoon

Richard Heart is the BIGGEST CON ARTIST in crypto history...
hackernoon.com

anyway bitcoin is the new bitcoin and hex is the new hex,
its not a zero sum game,its like comparing apples and oranges!
Click to expand...
Except if you actually compared HEX to bitconnect you would see there are virtually no similarities at all.

You do realise that website is a troll site... It just makes fun of the arguments against HEX, which are all easily disproved. It took me 5 seconds reading to figure this out. Congratulations you just played yourself lol
 


Welcome

Join Grand Old Team to get involved in the Everton discussion. Signing up is quick, easy, and completely free.

Register

Shop

Back
Top