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Cryptocurrency. Quite a concept.

adamchandler said:
I’m not an investor in crypto but your sentiment goes both ways. I see naysayers pile on saying it’s doomed and stupid and I see blind hype people pile on when it’s up. No one can deny the volatility but for every naysayer, there’s someone who’s’ stoked about it and it feels like a cult. Someone will reply to you in 18 months that’s doubled since your post and 18 months later, you can reply that’s in half again. LOL. In crypto, everyone wins? :)
Click to expand...

Too funny ;)
I try not to confuse luck and skill. Crypto has 130 Billion go to "money heaven" in the last 24 hours. I don't know what that really means to someone giving crypto a go.......unless it was a $hort position.
OM
 
Omega Man said:
Looks like this was wonderful for “a select few”. :eek

OM
Click to expand...

Yes. It looks like the guy behind the collapse of FTX Trading Limited is set to get a lifetime of free housing, meals, healthcare and entertainment. He may, however, not enjoy the romantic activities he may experience. Crypto got him all of that.
 
I don’t shop at Victoria’s Secret nor anyplace on the dark web so I have no need for an anonymous or secret currency. My son is an astute investor and long ago labeled crypto as somewhere between simple scam and Ponzi scheme, and we’ve both stayed away from it. The underlying blockchain technology was lauded as having great potential for widespread commercial application, but to date it doesn’t appear that has materialized. So, I’m quite content to sit by and watch as it crumbles and Barnum rolls over and laughs. :lurk
;)

Best,
DeVern
 
You can use crypto at Victoria’s Secrets? :rofl

The touted multi- level safeties they all claimed to have for money movement , assuming block chain :dunno
seemingly doesn’t work as planned. From day one, I smelled dead fish.
 
RadioFlyer said:
Don't see anything that says that cryptocurrency was invented as a way to launder money.

Sent from my SM-T813 using Tapatalk
Click to expand...

May not have been invented as a way to launder money, but it's become a way to launder money [ avoid taxes ]. The evidence is out there for YOU to seek if you're so inclined/.
 
henzilla said:
The touted multi- level safeties they all claimed to have for money movement , assuming block chain :dunno
seemingly doesn’t work as planned. From day one, I smelled dead fish.
Click to expand...

I think you have to separate the concepts of security and trust when talking about blockchain technology in financial transactions, because there are tons of other applications that can be trusted because of the level of security provided in blockchain technology.

That said, I have almost no idea exactly how FTX/SBF defrauded investors, but I sure do feel bad for people who have lost their money.

30 Non-Financial Use Cases of Blockchain Technology

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