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Bitcoin anyone? Crypto?

If you're hear to make from of crypto holders then you really don't understand the technology behind it. Bitcoin and Ethereum (maybe Litecoin which is my favorite with the low fees) will always be gold. Everything else will be worthless if **** hits the fan and the whole USD system collapses. I've made high 5 figures off Ethereum and laughing my whole way there. Enjoy being cheated by banks when you put your savings into low yield CDs
why would the ethereum ecosystem be gold when there is no scarcity attributed to ether and the only value it has is derived from actual transactional use (aka ether mining is more about doing work on the node versus mining an actual bit of information (like bitcoin))

i made money in crypto and it will be around but the boom it hit was due to money exiting traditional markets to play the gamble; it boosted in a bullrun like it was supposed to but now it will be a bear market for the next 3-4 years. this has nothing at all to do with how useful crypto can or will be

you see, the price and the utility of crypto are extremely decoupled. "but crypto will get you rich!" yes, as does gambling. but this isnt a standard vesting venture as you arent putting your money into a company unless its like XRP; crypto is widely not used for its intended purposes and even those who claim to understand it i fear really dont

crypto, especially Ethereum is not backed by anything, or rather not backed by a concept most people can understand and that is entropy
 
If you're here to make from of crypto holders then you really don't understand the technology behind it.
I've been in the investment business a long time. I am adding to a discussion which many guys may like to read.

Please explain this: Stablecoins are designed to maintain a fixed value @ $1 per token. The Terra USD algorithmic coin collapsed last week to two cents on the dollar (called de-pegging). It also hit the value of Tether (USDT). Most traders use stablecoins to buy crypto.

I think Bitcoin was around $50,000 last May? It is trading today at $31,000.

I'm just getting a little nervous owning a falling knife with the Fed starting to increase interest rates. We are sure in a Bear Market in Nasdaq stocks and Bitcoin. I say don't fight the Fed. I say stay liquid until things are more clear. I have no other agenda but to make money.
 
Bitcoin is no more or less a currency than gold or silver. It only has value if people want it.

The people who think that when the apocalypse happens they’ll be glad they have lots of gold and silver are fools. You can’t eat it and you can’t feed your family with it so it will have zero value just like bitcoin, the dollar and so on
 
Bitcoin is no more or less a currency than gold or silver. It only has value if people want it.

The people who think that when the apocalypse happens they’ll be glad they have lots of gold and silver are fools. You can’t eat it and you can’t feed your family with it so it will have zero value just like bitcoin, the dollar and so on
gold is money, not currency

bitcoin has no intrinsic value, gold is valued for its unreactive properties; the reason we dont literally coat everything in gold is because it cost too much
 
I've been in the investment business a long time. I am adding to a discussion which many guys may like to read.

Please explain this: Stablecoins are designed to maintain a fixed value @ $1 per token. The Terra USD algorithmic coin collapsed last week to two cents on the dollar (called de-pegging). It also hit the value of Tether (USDT). Most traders use stablecoins to buy crypto.

I think Bitcoin was around $50,000 last May? It is trading today at $31,000.

I'm just getting a little nervous owning a falling knife with the Fed starting to increase interest rates. We are sure in a Bear Market in Nasdaq stocks and Bitcoin. I say don't fight the Fed. I say stay liquid until things are more clear. I have no other agenda but to make money.
stay away from stable coins. it's just another way people use them to bypass having to pay taxes on their earnings imo. those people who bought terra had it coming for them. why would you buy something when it was $50 one day, then less than 2 months later it's $120. I don't understand people's logic.
 
The winners and losers have already been decided on. Now it's just a matter of the chosen players getting their pieces into place.

Terra blew up in spectacular fashion because Do Kwon was arrogant and couldn't keep his mouth shut so he was made example of. His size was not size like he thought. Time will tell if the rumors of who did it are true.
 
stay away from stable coins. it's just another way people use them to bypass having to pay taxes on their earnings imo. those people who bought terra had it coming for them. why would you buy something when it was $50 one day, then less than 2 months later it's $120. I don't understand people's logic.
by definition that is not a "stable" coin lol

stable coin is something like USDC or DAI
 
Bitcoin is no more or less a currency than gold or silver. It only has value if people want it.

The people who think that when the apocalypse happens they’ll be glad they have lots of gold and silver are fools. You can’t eat it and you can’t feed your family with it so it will have zero value just like bitcoin, the dollar and so on

Humans have coveted gold and silver for over 5000 years. It has remained valuable through every event in recorded history. It doesn't require a data center, electricity, air conditioning, or any other functioning infrastructure. If it's in your pocket, it has value and is tradeable for food, fuel, medicine, or whatever you consider essential. There will be others who covet it and be willing to trade goods or services for it.

Crypto? Guaranteed worthless if the wheels come off society and we're back to 19th century living. It's durability as a measure of value is completely based on a working, 21st century infrastructure.
 
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