5 minutes ago, raz-0 said:

When people offer to let you front run a pump and dump, sometimes you like money and say yes. Crypto.com is willing to turn cash into crypto for free. It's less clear if you can turn the crypto into cash for free it looks like it may be 2%. They also have designed their platform to incentivize you not having functional access to significant piles of crypto. So they want to give you a 2% haircut off the top, and more or less set things up to front run you if not day trade your crypto. They'll just borrow a little of your crypto and put it back later when prices are unfavorable for you. And if it gets out of hand they will be tragically "hacked" and all the crypto will go poof. Oops sorry unregulated market. (How many of those have we had so far? At least 3. One of them actually had the hackers put some of the money back once it became apparent that they would still be liable for a shit ton of money. Those are some nice hackers and that's super convenient... not sketchy at all. Literally NO way it could just be the crooks running the show running off with your money.). 

Web3 as it exists is... being as generous as I can... poorly defined. People like to babble on about blockchain and distributed and such. Maybe rant about the man a bit while talking about making gobs of money. But while you may be able to have an unalterable block chain, there is nothing saying you can't fuck up the block chain illegitimately, nor has anyone implemented anything that doesn't rely on key critical infrastructure. I.e. everything web3.0 so far can be hacked maliciously, stolen, or forced to shut down. As an example, lets say you wanted to put videos on a block chain, but you wanted the payload IN the block chain. Who is paying for the CPU cycles and storage to do that. How distributed could such a blockchain be? 

It's not there. It is questionable when or if it will ever be there. For a there to exist in a way that can make any number of attractive products, there needs to be interoperability, and at the moment that is largely missing. Crypto exchanges are pretty much the most advanced version of trying to create interoperability between mutually incompatible block chains, and they are a hot mess. 

No one's saying web 3 Is complete. It's In the beginning stages. People thought the internet was insane 30 years ago and here we are.  Alot of crypto wallets are also fdic insured like coinbase. Coinbase covers 250k per wallet.

People investing in sh*t coins or on shady exchanges are generally the ones that are unprotected.

I'm not willing to bet against the companies building the metaverse.

Microsoft, Nvidia, Facebook, apple and Amazon are all involved in different respects.

Time will ultimately tell 

53 minutes ago, Cheflife15 said:

So many huge names invested or pushing or even just giving crypto a platform. 

LeBron James has plenty of play money to gamble away, just like some of those other huge names. It's a hobby for them.

Are you investing your house savings in crypto instead of putting it in the I bonds?

42 minutes ago, Sniper said:

LeBron James has plenty of play money to gamble away, just like some of those other huge names. It's a hobby for them.

Are you investing your house savings in crypto instead of putting it in the I bonds?

No sir, absolutely not. I put as much as I can in those bonds, I maxed out my roth iras and the rest I'm playing with in crypto. Edit-only have invested what I could lose.

I live far below my means and try to invest as much as I can while I'm still young. If I HAD more money I would put more into crypto though. I was swing trading ethereum and bit for the last 2 years or so but then I got tired of watching it so I bought the big dip and now I'm sitting on it.

I'm not saying crypto is some 100 percent guarantee,  cause nothing is. I personally see a future in it though.

 

Hopefully eth will be a good source of passive income for me. At least that's the plan when I cant mine it anymore havnt sold any stupid idk but staking it down the line . For now I keep it in a decent yielding acct tgat keeps me liquid. 

My prediction in 5 years 90 to 95 percent of crypto shit coins go away and yiur left with btc eth and some of the majors w use cases .

Btc has no ceo or central location to threaten to turn it off. Its Skynet

F it bottom line if you have some $ to speculate btc b4 any others is the way to go. Like it or not bitcoin it is the godfather of the coins its so big it has its own gravity. So for now where btc goes others will follow.

For the newbies btc or bitcoin is the only bitcoin not bitcoin cash bitcoin diamond bitcoin your momma. Dont be fooled into buying a copycat.  I know its obvious to us but so many have been fooled by copies. 

my general rule is that when main street jumps in, it's time to jump out but I'm a big fan of metaverse

10 hours ago, RUTGERS95 said:

my general rule is that when main street jumps in, it's time to jump out but I'm a big fan of metaverse

A lot of "Main Street" jumped into Bitcoin a few fears ago.  Jus' sayen.

20 hours ago, RUTGERS95 said:

but I'm a big fan of metaverse

All your personal and private information belongs to the Borg.

On 1/29/2022 at 2:25 PM, RUTGERS95 said:

my general rule is that when main street jumps in, it's time to jump out but I'm a big fan of metaverse

I hope you jumped out of Metaverse before yesterday:

......"Shares of Facebook parent Meta were down more than 23% Thursday after the company forecasted weaker-than-expected revenue growth in the next quarter. It also said it’s taking a big hit from Apple’s privacy changes, and showed the first quarterly decline in daily active users on record.

The stock is on pace for its biggest one-day drop ever, ahead of the 19% plummet it saw in July 2018. Thursday’s drop is set to shave about $210 billion from its market cap, bringing it to about $689 billion.

https://www.cnbc.com/2022/02/03/facebook-shares-plummet-22percent-after-reporting-weak-guidance.html

On 2/3/2022 at 10:49 AM, Sniper said:

I hope you jumped out of Metaverse before yesterday:

......"Shares of Facebook parent Meta were down more than 23% Thursday after the company forecasted weaker-than-expected revenue growth in the next quarter. It also said it’s taking a big hit from Apple’s privacy changes, and showed the first quarterly decline in daily active users on record.

The stock is on pace for its biggest one-day drop ever, ahead of the 19% plummet it saw in July 2018. Thursday’s drop is set to shave about $210 billion from its market cap, bringing it to about $689 billion.

https://www.cnbc.com/2022/02/03/facebook-shares-plummet-22percent-after-reporting-weak-guidance.html

I buy the infrastructure plays but when cab drivers etc are talking about jumping, you get out

Given what's happened in Canada, and the posture of our current administration, crypto holders should be removing their crypto from exchanges and holding them in personal wallets.

I'm no crypto expert, but that's the gist of what I read in a number of articles. Seizure of exchange held crypto is entirely possible.

Bagsy on Twitter: "Kraken CEO giving you the heads up. https://t.co/XXSPQDDguh" / Twitter

OK, here's some exchanges responses, and additional insight.

Bitcoin Companies' Response to Canada's Request to Freeze Protester Accounts Is Pure Gold – RedState

Edited February 20, 20224 yr by 45Doll
2nd link added.

my current play is $ASTR.

crypto is way too volatile right now.

I do have some mined 'coin' in the whole Chia/forks space, but I've shut those servers down for now (being way too temperamental to keep running at this point.)

I assume the crypto Market is crashing now because of the Ukraine attack?

Just now, father-of-three said:

I assume the crypto Market is crashing now because of the Ukraine attack?

Yup, every market is crashing with biden as president.

1 hour ago, Cheflife15 said:

Yup, every market is crashing with biden as president.

No no. 
 

Every market is crashing because of the Russians, and the Russians were emboldened by Trump. And the Ukraine is all bush’s fault. 

I shit you not, this is what some of the media outlets are saying. I’m sure we’ll be told it’s only bad for the rich soon, just like they told us about inflation. 

23 minutes ago, raz-0 said:

No no. 
 

Every market is crashing because of the Russians, and the Russians were emboldened by Trump. And the Ukraine is all bush’s fault. 

I shit you not, this is what some of the media outlets are saying. I’m sure we’ll be told it’s only bad for the rich soon, just like they told us about inflation. 

Lol I read the 1st paragraph and was getting so angry. Yeah it's insane. I could sure go for a mean tweet right now.

16 minutes ago, Cheflife15 said:

I could sure go for a mean tweet right now.

And cheaper gas...

Well besides Russia and Ukraine, there's a lesson from Canada too.

What Canada Means for Crypto - Doomberg (substack.com)

But what about Medicare, Social Security, and fiat currencies? Read the comments.

Is crypto just one big Ponzi scheme? - The Post (unherd.com)

1 hour ago, 45Doll said:

But what about Medicare, Social Security, and fiat currencies? Read the comments.

Is crypto just one big Ponzi scheme? - The Post (unherd.com)

JOHNATHAN GALT & CHRIS MILBURN understand.

In reality ANYTHING can be Ponzi scheme.

The autor of the article says, "With regulated securities, such as stocks and bonds, investors receive a combination of interest payments, dividends, and cash flows, making these, at the very least, a zero-sum endeavour. With crypto, however, investors receive none of these, only benefiting from a potential rise in price — the so-called greater fool theory."  It doesn't sound like the author understands that there are MANY non-dividend stocks and even bonds which pay no interest or dividends.  

I can give you NUMEROUS examples of "regulated securites" which were complete frauds.  And A LOT of equities securites (stocks) don't benefite from anything but a "potential rise in price".  That doesn't make them "ponzi schemes".  Capital appreciation is generally why MOST people invest in stocks and mutual funds.  

As noted by Chris Milburn's comment in the article, Bitcoin is no more of a ponzi scheme than the USD or any other fiat currency.  Crypto currencies hold no more or less of a risk than stocks.  You can't lose more than you put in.  They are both potentially zero-sum endeavours.  Never put more into ANY investment than you are willing to lose.  

 

It sure seems like bitcoin is racing back to that $29,000 number from last July.  I sure hope this isn't a Biden Market Correction.

Those of you in crypto may want to peruse this.

The crypto collapse: what you need to know | Zero Hedge

Btc as well as other markets will get the sh$t kicked out of them but I have money on it literally that btc and eth will survive. We can chat all day why the market is in rough shape but btc and eth as well as a few other blue chips will come out the other end ok in my opinion. The other sh$t coins be careful. Dont try and catch a falling knife. I will dca in

This was be best comment on the article

 

 

This is the end of the generation who thought they could get rich doing absolutely nothing...

Those of you who have been waiting to get  in, this is your chance.

Those "true believers" this is you chance to buy more cheap.

Never take "invest advice" from a stranger (especially on gun forun).  Never but in more than you are willing to lose.

 

This article lists some other data besides crypto.

Crypto losses now equal $1.7 trillion. The 2007 subprime mortgage market was $1.3 trillion. It’s highly likely that Crypto will be the catalyst for accelerated global collapse. – Investment Watch (investmentwatchblog.com)

1 hour ago, 45Doll said:

This article lists some other data besides crypto.

Crypto losses now equal $1.7 trillion. The 2007 subprime mortgage market was $1.3 trillion. It’s highly likely that Crypto will be the catalyst for accelerated global collapse. – Investment Watch 

1 hour ago, 45Doll said:

This article lists some other data besides crypto.

Crypto losses now equal $1.7 trillion. The 2007 subprime mortgage market was $1.3 trillion. It’s highly likely that Crypto will be the catalyst for accelerated global collapse. – Investment Watch (investmentwatchblog.com)

 

Im not surprised at the tone of the article, which is more link related.  I do wonder if may crypto investors are as new as me, but invest far more money with far more blind optimism. Buying in the dip last July, still leads to losses today.  Sure, I hope the market will recover, but to assume the market will continue to go up is shortsighted.

My 2 cents i see a dip into low 20s b4 any recovery . The luna stablecoin debacle certainly had a hand in it.

Counterparty risk, Goldman Sachs, Jon Corzine, and Coinbase.

Not Your Keys, Not Your $COIN - Doomberg (substack.com)

“The good news is, we're not bankrupt. The bad news is, we're close.” – Richard J. Codey

Totally agree not your keys not yoir coins. For the folks that don't know. Its when you take your crypto off the exchanges and place in your private wallet . That no one can take from you. The equivalent of withdrawaling tour funds from the bank and keeping it in your possession in a secure wallet. That's the cliff notes. Can be discussed further if you like.