News Forum - Cryptocurrency crash: what is happening?

[butterfly]

Cryptos should be banned, period. People are dumb, you can't let them manage their financials, let alone highly speculative instruments like cryptos

actually cryptos are simply dangerous, like drugs or gambling, and interesting they seem to attract people with serious addictions issues, I wonder why 

Look at all those crypto creepy promoters on YouTube, they could be running a bar in Pattaya with the same enthusiasm 

 

Edited June 22, 2022 by butterfly

[BigHewer]

2 hours ago, butterfly said:

Cryptos should be banned, period. People are dumb, you can't let them manage their financials, let alone highly speculative instruments like cryptos

actually cryptos are simply dangerous, like drugs or gambling, and interesting they seem to attract people with serious addictions issues, I wonder why 

A lot of this is true, agreed. The problem is as we know, a lot of crypto enthusiasts are interested in a quick buck and not informed about the benefits of conventional investing. They tend to have wrong buy and sell instincts in relation to market position. 

Stocks are dire at the moment, it’s annoying but I’m not concerned. November mid-terms, Santa surge both coming, plus 122 years of data.

For the crypto folk who knows? Quite a few crypto investors have struck gold with little knowledge; many more big fish have done the same by playing on the inexperience of their fellow investors in a zero sum game. 

[Cryptobro]

Terra collapse is one of the main reasons, I suppose. And there were some more negative news that predict the bear market. Elon Musk also sold Bitcoin, which is not good, so we're just waiting for some good news. All we can do now is staking, accumulating, trading (a very dangerous option) and just having your funds in wallets. There are so many scams in the space btw, so I'd recommend buying Ledger or transfering your funds to TWT or this crypto wallet

Edited August 17, 2022 by Cryptobro

[Janneman]

Crypto's were 'invented'  as a currency not under control by any central bank. Like independent money. To allow people to spend their money without any 'control' by any government. Correct me if I'm wrong because I am no crypto expert.

But I almost never hear about people buying or selling things for bitcoins. Yes you can buy a Tesla. Or pay some criminal who hijacked your computer system. But buying a beer and pay with bitcoin? Maybe it is possible but I never heard of anyone doing it.

It's all about investing. In something as volatile as air. By quite a few greedy people with the brains of a goat. Recipe for disaster. Or Ponzi schemes.

Disclaimer: I do not own any bitcoin. I might buy some once they drop below 2.000 US$.

 

[thaifarmer]

crypto is the best thing happening to normal people for a long time. if you understand how blockchain works, you'll understand. banks scramble to keep people away, try to take control via state etc. but the fact is, once you have your crypto secured in a "non-custodial" wallet, nobody can take it away! and for instance, you secure a big chunk of you assets in a crypto, carry over your passphrase to your children, as an inheritance. and they access it a couple years later (maybe in a safe country?) after you die, good luck state to try taxing that. bcs you can't tax what you don't know. this is all possible, IF you're willing to dive into this

Edited August 18, 2022 by thaifarmer
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