It creates a toxic place for most investors, whether you like that or not. Not to mention, if you are a small investor, fees will eat you alive. When you put $50 in coinbase into BTC, you automatically lose like 2-5%, then if you transfer it, even more gone.
Look, when I say this stuff, I'm not talking about the two top coins. BTC and ETH aren't scams and can be seen as good investments, however, a lot of unsuspecting people fall for alt coin scams promoting huge gains or sites promoting ways to avoid high gas fees. My 50-some-year-old dad got into a particular coin in September 2021, the coin wasn't really a scam but didn't offer anything revolutionary(like most coins). However, he tried to transfer the tokens to an site claiming lower gas fees and lost all of the money. Part of that is on him for not checking the legitimacy but still he probably won't invest again due to that experience. I imagine all those who got scam and telling others feel the same
Ethereum is a scam. The fee structure alone should ring alarm bells. The disguised whales, the offer to presale to retail, Lubin saying he had a piece of paper in his back pocket around the time SEC Hinman gave the speech, while simultaneously getting paid by his old law firm in the Ethereum alliance, rug pulls on erc-20 coins. Maybe someday, eventually , this century, Ethereum 2.0 will be released.
My mom got an email saying her Amazon order was going to be charged if she didn't call immediately to cancel and then the guy over refunded her and would lose his job if she didn't get him gift cards to send to him.
Really? So what part of it is a scam? The fact that the free market decides gas prices and users literally pick their own gas price when submitting transactions? It's literally free market deciding supply and demand. Alarm bells. lol.
May 2021 ETH was $4,400 and dropped to $1,700 in a few weeks. So that you don't know what it was. But this recent drop you know for sure was retail market leaving forever?
This reads more like people are creating more wallets and spreading their BTC around. Article mentions that the wallets holding lots of BTC has declined. Number of wallets is fairly meaningless because anyone can make a wallet for free. I can go out and make 1,000 wallets if I really wanted to, and if I had 1,000 BTC, I could put 1 in each. There is no real way to know if this is more people entering the market, or whales just spreading things out maybe for risk mitigation in case of hacks.Meanwhile, small fish are buying BTC.
BTC wholecoiners up by 40K since June crash began
The number of Bitcoin wallets holding more than one BTC surged in June amid a price crash.cointelegraph.com
Saying other things are scams does not refute crypto being a scam. Scams have existed with regular currency since it was invented. What you need to look at is how many transactions in dollars are because of people getting scammed vs. how many transactions in crypto are in scams. My guess would be a lot higher % of the crypto market is scams than what happens with dollars.
Scams happen everywhere. The higher the tech hurdle the more likely someone messes it up. Crypto is being dumbed down and by the time it actually reaches the masses the tech hurdle will be much much lower and thus harder to pull off scams.
LOL. Maybe she shouldn't have contacted a undercover FBI agent to be her hitman. Bitcoin didn't matter one bit in this.
I agree. Being in crypto every day I could feel the shift. As much as this thread is arguing stocks are good and crypto bad in reality a lot of crypto is just being treated like a volatile stock by traders. Fidelity and others are going to bring crypto to the masses packaged such that it goes into their portfolio like a stock or ETF. Most of the arguments in this thread don't have any bearing on the fact that a lot of volume will actually be with these 2 groups.
From what I’m gathering, the hitmen that advertise in Craig’s list and other regularly used sites are typically FBI agents. Every time I’m in the grocery store, the usual lady who waits on me had this same thing tried against her by her husband.
