Cryptocurrency - any of you guys into it?

Have a prediction

Bitcoin investors mugs  all over the world will have lost their shirts but the big boys (Bitcoin scammers) will have sold up and rebuy when the price hits the floor, then they'll wait for more idiots to invest.

..and there are always more idiots to rip off.

I buy crypto, not sure it is a wise thing. Very much the wild wild West, a space carved out for crooks to thrive. Will it last, hard telling. But it has many things as headwinds. So much for BTC reaching 100k be EOY 2021.. However, it lures many in hoping for the home run, then the whales come. Gas fees are ridicules. Can you imagine your bank charging you so much to wire funds?

Nothing these toads do not want to police. Odd they think they can police crypto and no one else can police it. At any rate that is why I do not participate in this forum anymore. Their policing heads got to big for themselves. Perhaps those that want to talk all things crypto would be better to move to Telegram. Come to think of it we should make a forum on Telegraph and ditch the police. Most crypto organization do their customer service on there.

You should see the amount of crypto scams were delete and ban.
There goes the big problem, the crypo trade was designed by twats to ensnare fools.
That's why it isn't welcome here - The platform was designed to help expats, not help them to lose money.

Diazo wrote:

Yeah Fred you can control the every thought of expats. You think they are all your children. Mod position were created for those who missed out on something in life and now like controlling .

Not interested in controlling your thoughts, but scammers get banned. Usually a few bitcoin ones go every week. Most are one post wonders out to steal what they can.
You can tell the world you love bitcoin and completely ignore the massive losses this week (and many times before), but someone might well mention such things.

Hold your breath and by the time you r force to release it and take another breath

Crypto Currencies will on the BOOM

Saggaboy wrote:

Crypto Currencies will on the BOOM

Right now, the "BOOM" is an implosion.

Saggaboy wrote:

Hold your breath ... and take another breath

Crypto Currencies will on the BOOM

OK Boomer.

BOOM, BOOM, BOOM !

No raise for interest, SEC decision yesterday. But, there is another event 16 March to talk about possibilities for raising interests... Another deep is coming I guess, and not to forget Russian/Ukrainian crisis which drove people to sold their stocks assets and this affect on crypto market too ...

Hello,

Please note that a few posts have been removed from this thread as they contained unfair criticism of the moderation team. It is essential for posts which are scams to be removed so as to keep the website safe for the sake of all members and users.

Thank you for your kind understanding.

Best,

Diksha
Expat.com team

Facebook's Libra was the only cryptocurrency I was excited about, because here in Ecuador we really need an efficient, easy to use online payment system. There's no Alipay/WeChat pay down here. But... the only promising cryptocurrency from a serious (although evil) company got shot down by regulators. Everything else is, as has been said, the Wild West, so I won't touch it with a 2 meter stick.

I don't play with crypto. It's so volatile, not to mention unregulated. I guess it's appealing for some, but I don't know enough about it to play in that sandbox.

Eruptile wrote:

I don't play with crypto. It's so volatile, not to mention unregulated. .

And there goes the two reasons I won't go near the mess. Anything like this will and does attract every scam merchant under the sun.

Eruptile wrote:

I don't play with crypto. It's so volatile, not to mention unregulated. I guess it's appealing for some, but I don't know enough about it to play in that sandbox.

Great money maker for guys like Elon Musk who can manipulate the rates with comments on social media, and even he is saying to "invest with caution". I'm not into it, but never say never ✌🏻

To me the space is fraught with problems. For starters it is a energy hog. If it does grow more the hit to electrical grids will be enormous. Texas is not part of the US grid system. However when China stopped mining farms many migrated to Texas. The fact that crypto is so decentralized would seem to make it impossible for the average person to be able to afford the gas fees. If you draw an analogy between crypto and fiat , crypto will not be able to compete. Startvwith exchanges verses banks. You deposit your money in a ban and every transaction is tracable and reversable. However, on a crypto exchange it is not. If you want to pay a vendor from your bank account you can easily do so with debit cards, wire transfers or ACH transfers with little or no cost. Move crypto from your exchange to say a defi wallet and a minimal transfer cost you $20+. Soon your profits are ate up by gas fees.
Then there is the elephant in the room since it is virtually ( not compketely) untraceable. Hence the attraction by crooks. As is often the case crooks gravitate to poorer countries where people fall for the schemes. Witness BNB-Yield and its many derivitives. There is nothing you can touch in the crypto space that crooks have not infiltrated. Be it buying mining equipment , or just visting a YouTube channel.
Is crypto just another Tulip Craze of the 1400's or is it a true fixture of society. Time will tell. So far it has far outlived the Tulip Craze length of existence or ostrich farming.
Not to mention the crypto lexicon is so odd I doubt most older folks could adapt just to the lexicon alone. Not to mention the other odd things e.g exchanges, defi, hard wallets, soft wallets, gas and on and on.

Diazo wrote:

For starters it is a energy hog.

I actually hate crypto because it's the reason GPUs (graphic cards for your computer) are so scarce and ridiculously expensive. Miners and scalpers buy all the stock NVIDIA and AMD manage to produce. I haven't been able to upgrade my computer's GPU for several years now. It's now actually cheaper to upgrade to an M1 Mac than to upgrade your PC if you rely on your GPU for honest, actually productive work (video editing, 3D design, etc) instead of greedy speculating with something that has zero intrinsic value, zero regulation and zero government support (crypto).

Indeed, the list goes on. I get a kick when people treat crypto as an asset one can evalute on many metrics. However, those metrics have little or no meaning. They rail against fiat currency for many reasons. You would think then that crypto would have a reverse correlation to fiat or equities, but no. When inflation rises crypto fall with everything else. They want to use total capitalization or total crypto held to evaluate its intrinsic value. I would argue that provides no value. But as I alluded to before, unitl it can be regulated in such a way that it keeps the crooks out I suspect it is just a pipedream.

https://www.cnbc.com/2022/01/12/investo … verse.html

Real estate in virtual worlds — sometimes called the metaverse — is going for millions of dollars in some cases.
The most expensive spots are near where lots of users congregate — for instance, someone recently paid $450,000 to be Snoop Dogg’s neighbor in a virtual world called the Sandbox.
But even proponents are warning would-be investors that this is risky business.

Bitcoin and non existent houses share something - their actual value is zero, but they both have a perceived value amongst given groups of people.
Some are geeks, some are yuppies (old phase) trying their best to look with it, and the rest are manipulators out to screw what they can from the others.
One has to explore what 'value' actually is, and these things simply don't have it so both are easy to manipulate.
When it boils down, these things are worth absolutely zero in the real world as the vast majority of people can't do anything with the things. Add their supposed value is so wildly variable they aren't a good investment unless you'e either lucky , have your nose to the market in the form of insider trading, you set up a 'bank' to steal the lot, or you're a manipulator.
The rest lose their shirts.

Then, for good measure, we toss the massive environmental issues, criminal activity, and miners infecting random people's computers with a virus so they can take them over for mining.

The whole industry is a serious pain in the bum and most is nothing more than an enormous scam.

I too hate Cryptos, it is such a scam,  a criminal tool and causes havoc to the environment, but the thing I hate most of all about it is becoming filthy rich from them.
Being able to afford any electricity bill and affording to be scammed by hackers without it affecting or making an impression in my income, being able to afford to throw Hugh donations at the environmentalist. YEA I HATE IT ! These veil things would never happened to fiat currency especially the GOOD GOD ALL MIGHTY US Dollar.

I certainly get it. While in its relative infancy there are many oppurtunities to hit a home run. Yet look at the old lady who put 100k into BTC a few montgs ago at 60k. The thinking at the time was because of it great value it was going to 100k be EOY. Then it got close to 30k 9n a few months. Now the old ladies 100k is worth 30K. For this reason it may never appeal to the masses. But you sure as can make a ton at the moment and from time-to-time. To think a 50% loss requires a 100% gain to get back to break even.
Perhaps the day will cone when some brave souls will create a coin that can be used a the currency for international settlements. When that day arrives the U.S. will put a halt to crypto completely as they would be bankrupt in days.

100k became 30k. It's bitcoin so no shock there.
However, the question is who grabbed the 70k difference.

Answer - a bitcoin manipulator.
These people don't give a flying rats about anything but grabbing fools' cash.

O, The suffering of the short sited !

Fred wrote:

100k became 30k. It's bitcoin so no shock there.
However, the question is who grabbed the 70k difference.

Answer - a bitcoin manipulator.
These people don't give a flying rats about anything but grabbing fools' cash.

agree with you Fred because

"You don't get owt for nowt"

something that in Spanish it could go like:
"Nadie da duros a cuatro pesetas"

no matter what
there is always a catch..
aka you always make a deal with the Devil

 

Saggaboy wrote:

O, The suffering of the short sited !

Yes, the lady in the possibly apocryphal story suffered 70 thousand times due to her myopia.

Fred wrote:

100k became 30k. It's bitcoin so no shock there.
However, the question is who grabbed the 70k difference.

Answer - a bitcoin manipulator.
These people don't give a flying rats about anything but grabbing fools' cash.

I think your implying some person or entity "grabbed" the drop in value. In that sense it is like any other asset. However, i think it would be hard to find a more volatile asset. The odd thing about crypto assets is that they move in lock step with each other. If BTC goes down they all follow. In fact you can overlay their charts and see that. Whereas in other equities you do not see that. If Apple goes down United Airlines might go up. Yet there is industry correlations.
You seem to be saying the whales took the 70k loss. There is no doubt whales can easily minupulate the market. That is because it is such a relatively small consentrated market. This is why stocks are regulated. This is why crypto suffers because there is no regulation. One of the many drawbacks of crypto.
'

Diazo wrote:

I think your implying some person or entity "grabbed" the drop in value.
'

Of course I'm not implying it - I'm flat out saying it.

70 grand doesn't just disappear, it goes somewhere, in this case into market manipulators' pockets.
It's easy enough to work out - manipulators buy low, create a few headlines about how wonderful coins are, wait for a bus load of fools, then sell high and crash the market.

THIS 2013 story comes up every time the market falls. Are we really supposed to believe a computer expert tosses a hard drive out without destroying it first?

It went into your ignorance of Cryptos.

Saggaboy wrote:

It went into your ignorance of Cryptos.

If I may be so bold: I have found smart answers tend to be an attempt to avoid a real answer, that commonly because the truth of a situation doesn't fit the version of the truth you want people to hear.
That in mind, your motives for avoiding the question have to be considered.

I did answer your question and I will answer it again. It went into your ignorance of Cryptos. Take the answer seriously and examine your lack of knowledge.

Saggaboy wrote:

I did answer your question and I will answer it again. It went into your ignorance of Cryptos. Take the answer seriously and examine your lack of knowledge.

So the 70 grand disappeared into thin air?
Of course not. It went into a manipulator's pocket. The very fact you refuse to answer shows you have no valid argument.

Hi guys,

this thread was interesting at some point, but now it's insults everyday and I am tired of cleaning this thread. The op is not even posting anymore and I guess everything has been said

-thread closed-