Cryptocurrency

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JustAnotherTimeline

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Jul 29, 2021
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We should probably shut down retail stock trading too. Can't have people risking their life savings when they don't know what they are doing.

 
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cyfanbr

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Being 100% honest most people born in the US will have a much harder time seeing how broken money/fiat really is. The dollar has been the global reserve currency for most, if not for all of our lives… those born in the us have been privileged to not experience inflation in the way that many other countries have.

I was born in a country where in the early 90s they “re-invented” their currency due to inflation… Almost 30 years later and that currency has now lost nearly 80% of its value. Best part is that my home-country is not even close to been one of the countries that experienced hyperinflation like Argentina, Venezuela, etc.

The dollar won’t be the first currency to fail. In fact it might be one of the very last ones to fail, but ultimately it will because the system the way it is currently designed is unsustainable.
 
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MyCyView

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Sep 3, 2014
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Being 100% honest most people born in the US will have a much harder time seeing how broken money/fiat really is. The dollar has been the global reserve currency for most, if not for all of our lives… those born in the us have been privileged to not experience inflation in the way that many other countries have.

I was born in a country where in the early 90s they “re-invented” their currency due to inflation… Almost 30 years later and that currency has now lost nearly 80% of its value. Best part is that my home-country is not even close to been one of the countries that experienced hyperinflation like Argentina, Venezuela, etc.

The dollar won’t be the first currency to fail. In fact it might be one of the very last ones to fail, but ultimately it will because the system the way it is currently designed is unsustainable.
This post is spot on! Too bad more Americans do not understand what is coming.
 
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BuschLight

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And to follow up on that post, cryptos will fall way before the dollar. We saw that once the stimmuls checks stopped and inflation rose. "Magically", crypto dropped 60%. Almost like the average person can't "invest" in speculative markets during down times.
 

Ames

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And to follow up on that post, cryptos will fall way before the dollar. We saw that once the stimmuls checks stopped and inflation rose. "Magically", crypto dropped 60%. Almost like the average person can't "invest" in speculative markets during down times.
What caused ETH to drop 50% last summer? What caused it to nearly double last month?
 

BuschLight

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Jul 24, 2022
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What caused ETH to drop 50% last summer? What caused it to nearly double last month?
Last year at this time, ETH was $1,000 more than it is now. Then peaked at 4.8k then the crypto craze crashed quickly. No idea why it jumped from $1,100 to $1,600 in a month. Maybe speculative buyers thought it was a low point.
 

JustAnotherTimeline

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Jul 29, 2021
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Last year at this time, ETH was $1,000 more than it is now. Then peaked at 4.8k then the crypto craze crashed quickly. No idea why it jumped from $1,100 to $1,600 in a month. Maybe speculative buyers thought it was a low point.

Were you not here in 2018? Same narrative, smaller numbers at that time. Is this time any different?
 

BuschLight

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It seems you may not understand decentralization. Has nothing to do with what you refer to.
Ok? What does that have to do with MANY crypto projects being scams? WAY more often than publicly traded companies? Why are many crypto projects end up in rugpulls if it's "decentralized"?


because it's a get rich scheme for most people...
 

cyclone1209

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unfortunately, scams like that are too common in this space and people effect rarely get compensated for their losses.
Regulators are starting to hammer down on crypto exchanges. Celsius is a good example.

The way Celsius ran their business was shady at best, and at worst it was pozni scheme like. Exchanges offering investors 16% interest on their deposits. Seriously? Bernie Madoff was only promising 13% returns... I get the general premise of Bitcoin but some bad characters are ruining that space for everybody.
 

JustAnotherTimeline

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Ok? What does that have to do with MANY crypto projects being scams? WAY more often than publicly traded companies? Why are many crypto projects end up in rugpulls if it's "decentralized"?


because it's a get rich scheme for most people...

I don't disagree. I am voluntarily in several projects that amount to nothing more then ponzi concepts.

But, that does not invalidate the entire space.
 

BuschLight

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Jul 24, 2022
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Regulators are starting to hammer down on crypto exchanges. Celsius is a good example.

The way Celsius ran their business was shady at best, and at worst it was pozni scheme like. Exchanges offering investors 16% interest on their deposits. Seriously? Bernie Madoff was only promising 13% returns... I get the general premise of Bitcoin but some bad characters are ruining that space for everybody.
They didn't do anything after Bitconnect scammed hundreds of thousands of people in 2018, maybe this is actually the time but who knows?