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Post by Peter on Jun 18, 2022 11:47:08 GMT 8
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Post by DropBear on Jun 19, 2022 12:28:51 GMT 8
I've never understood crypto currencies (or NFTs) and have never bothered to get into them. Could never get over the idea that putting real money into an "asset" that you couldn't touch and couldn't hold which probably never really existed outside of a series of '0's and '1's always seemed like a recipe for disaster. |
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Post by roxii on Jun 19, 2022 12:40:46 GMT 8
It also looks like the things they were supposed to be independent of like inflation are what is being blamed for their potential downfall.
I suppose it’s easy to say you are independent of inflation when the hasn’t been any inflation in the better part of cryptos lifetime.
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Post by kenkong on Jun 19, 2022 13:59:33 GMT 8
It also looks like the things they were supposed to be independent of like inflation are what is being blamed for their potential downfall. I suppose it’s easy to say you are independent of inflation when the hasn’t been any inflation in the better part of cryptos lifetime. My take is this is what happened-trillions of dollars was pumped out globally by way of stimulus. All of a sudden you have a stack of youngings sitting at home with a few grand free money in their accounts who can't go blow it on over priced drinks at the clubs with lockdown so decide to throw it at crypto-and away she goes. Fast forward to now and everything is getting smashed by inflation, cost of living is through the roof and people need the cash, they start to sell and the fear and greed sets in and down she goes... I still think there is a place for it, especially to protect against government over reach. As we move more and more towards a cashless economy the government have unbridled power to freeze your bank accounts which is exactly what happened in Canada with the protesters. That scares me. At least with crypto it is yours and no one can basically freeze or take it without your password. |
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Post by roxii on Jun 19, 2022 14:30:55 GMT 8
It also looks like the things they were supposed to be independent of like inflation are what is being blamed for their potential downfall. I suppose it’s easy to say you are independent of inflation when the hasn’t been any inflation in the better part of cryptos lifetime. My take is this is what happened-trillions of dollars was pumped out globally by way of stimulus. All of a sudden you have a stack of youngings sitting at home with a few grand free money in their accounts who can't go blow it on over priced drinks at the clubs with lockdown so decide to throw it at crypto-and away she goes. Fast forward to now and everything is getting smashed by inflation, cost of living is through the roof and people need the cash, they start to sell and the fear and greed sets in and down she goes... I still think there is a place for it, especially to protect against government over reach. As we move more and more towards a cashless economy the government have unbridled power to freeze your bank accounts which is exactly what happened in Canada with the protesters. That scares me. At least with crypto it is yours and no one can basically freeze or take it without your password. Absolutely and that was the intent as far as I’m aware. But the gains saw the greedy use it as a speculative investment which it made it no different to other volatile investments and it has performed exactly as the others have. My take is that is was supposed to be like a “virtual gold” but has so far proven not to be. |
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Post by catlady on Jun 20, 2022 8:13:10 GMT 8
Was listening to a podcast on the weekend (darknet diaries) on the incredible Crypto heists. One in March netted $700 million! The lazarus group are known to be the perpetrators of most of these heists and it's well known that the lazarus group is a front for the North Korean Government. they said, that conservatively the Lazarus group have stolen over $2 billion. The big draw back is being able to cash the money out. They are able to chase the crypto around the global exchanges to the "hot wallet" but are unable to retrieve it, only watch it, till it is cashed out. One example of how they do this is they create a wallet with a false identity, then flick $50,000 from the hot wallet to the false wallet, which then cashes it out instantly to a bank account where someone immediately withdraws the cash and walks out of the bank. It really is quite an interesting listen if you want to understand a little bit more about crypto.
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Post by Peter on Jun 20, 2022 12:43:12 GMT 8
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yogi
New Member
Posts: 3
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Post by yogi on Jun 23, 2022 17:58:19 GMT 8
Anything that becomes speculative, is high risk. Whether that be bitcoin, shares, futures or currency. You are basically playing the game of betting you'll be able to sell to a bigger fool before getting stuck with a turd. I see that Michael Burry is betting on an upcoming crash, and while Elon Musk says he's just a stopped clock, I'm not sure I'd be betting against him.
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Post by Peter on Jul 13, 2022 5:00:05 GMT 8
I didn’t know Texas was a great place to Bitcoin farm
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