Cryptocurrencies are a massive fraud

what u think future of it gonna be?

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MrSmiley21 wrote:

I get to do this because crypto isn't a scam. Go right ahead and hate away.

Level 80 logic right here. You could have done it with something you have "earned" in some ponzi scheme as well; it doesn't mean some local government can't make it illegal in a blink of an eye and then there's a non-zero probability some nice guys in "space suits" will suddenly start coming and asking questions, hehe.

According to my economics professor the crypto currencies are just average ponzi scheme.

They have no background, no backup nothing.

Actually the real life monopoly money have more value.


Some of the ,, masters,, here said that all money are fake.

Thats absolutely NOT true and a kids tale.

All lawfull money have gold and silver coverage, and the coverage of state properties and buildings and parks.

CRYPTO has absolutely nothing.

To compare the real life money vs crypto is a joke.

There is only 1 end for the crypto . It will die for sure and forever.

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From Wikipedia, the free encyclopedia

In finance, the greater fool theory suggests that one can sometimes make money through the purchase of overvalued assets — items with a purchase price drastically exceeding the intrinsic value — if those assets can later be resold at an even higher price.

https://en.wikipedia.org/wiki/Greater_fool_theory

Have people "made" money in crypto? Yes, of course they have. Early adopters can and do, in such schemes. And how did they do it? They rode a rising tide of expectation that these "assets" would appreciate in value. Why did cryptos do so? Because people were told they would. And listened, and bought into the rise. However, with no sound basis (aside from a capacity for performing transactions outside the scrutiny of governments and law enforcement), cryptos are valued solely on the expectation that they will continue to rise in price.

That expectation will not persist forever, and some people will lose a LOT of money. ='[.]'=

People have been making significant money doing shady, selfish shit for millennia, dude. There are some here who'd be cool doing that (it's PoE, of course there are) but they're playing with fire, every single time.

It's almost impossible not to be a bad guy these days if you want to take care of your own, but that doesn't mean you have to go full cryptobro arsehole mode.

Happiness isn't having lots. Happiness is knowing you have enough.

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Foreverhappychan wrote:

Happiness isn't having lots. Happiness is knowing you have enough.

Never heard crappier thing before, thank you.

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KevinLightBringer wrote:

"

Foreverhappychan wrote:

Happiness isn't having lots. Happiness is knowing you have enough.

Never heard crappier thing before, thank you.

You're welcome. I hope you find happiness in your own way, Exile. Go in peace. ^_^

"

SneakySanta wrote:

CRYPTO has absolutely nothing.

It can be used for criminal purposes. This give it some kind of use and value.

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DeltaWing wrote:

"

SneakySanta wrote:

CRYPTO has absolutely nothing.

It can be used for criminal purposes. This give it some kind of use and value.

I think the guy was not talking about uses, but more about... well, its a economy term, i know in portuguese, but not in english, but i think you can call it a "garantee"(warrant?), something that prevents some random dumbass or ill-intentioned guy in a place of power from doing something that might bring down the value of a coin or the stocks of a company in a easy way

Money have value ultimetly because people trust nobody in charge will do anything that will render the money they have worthless in the blink of an eye. If that trust dissapears, then the money in question becomes glorified toilet paper

Most coins or companies have some form of protection like laws preventing politicians from doing stuff that is too retarded, or banks taking something as warranty, effectively holding it hostage to prevent you from not following your end of a deal

Probably the biggest issue with cryptos is that they lack such a thing. When you take a deal and get crypto as payment, you are assuming it will have the value you expected, but theres pretty much nothing formally established to hold that assumption. You are accepting a coin whose value is not safegarded in any way and will have no warranty to turn to in the event the coin devalues to nothingness, sure enough, as it is super common with this sort of coin, cryptos are super easy to get, but hard to convert into actual goods. Its appeal comes from how its easy to get your hands in large amounts of it, but the problem is that you often end stuck with a coin almost nobody accepts. You can often make bitcoins "experts" fumble their words simply saying "lets say i want to buy X: Show me how you get me X with bitcoins"