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I guess I’m one of the few who doesn’t have a strong opinion one way or the other when it comes to crypto.
On one hand, I intrinsically don’t trust it, but I’m way more on the cautious side of the spectrum than most.
OTOH, I’ve heard of people doing well with it, but I still don’t trust that it’s for me if that makes any kinds of sense.
When it comes down to it, I just really don’t like anything that I perceive as “risky”
@TotsNPears the issue for me is the same as the issue of a poorly regulated stock market of any other financial market. The more it resembles a casino the more likely the effects will be deleterious on our much larger and more consequential macro-economics. All related and connected.
I bought a car, went on 3 trips and made donations on about a 300$ intial investment. I almost bought a piece of property with crypto. WTF do you care about crypto as if it affects you somehow?. The US dollar is based on nothing but financial theories and formulas. Nixon took us off the gold standard in 1971.
What's the diff? Some say crypto is used for nefarious purposes. US green backs are used to finance criminal enterprises daily. Again, what's the diff?
I hope your investments take a shit too.
@Dip Dibbler if you were lucky and/or smart you bought low and sold high and got your initial investment out early to allow you to play with just “house” money. Crypto is really no different than the stock market except more value is based on tweets and influencers. Additionally there are fewer guardrails and more nefarious assholes taking advantage of fools who only wish to get rich quick and become an influencing whale.
Some of my colleagues made serious bank on their crypto investments. All have lost almost all their value in the space—again, the smart/lucky ones sold and retained their initial investment stakes and then some so their losses aren’t painful. Others did the HODL and are now shitting bricks as they watch their entire retirement funds shit the bed in both crypto and stock market.
I pulled all out back before the Big Recession when I realized my portfolio was only adding wealth to my broker and I didn’t have the time to research investments. Got lucky and my investments in companies and real estate has held up against the stock market and crypto casinos.
@Dip Dibbler oh, and by the way, I care about crypto and its effects on those who invest because it does contribute to the greater and much larger macro-economics we all live under. Casinos often do very well for those who own them but not always a net benefit for the societies and communities wherein they exist. Same is true for unregulated financial markets.
I'm not bitter or defensive re: crypto. I purchased and used it legitimately just as any other means of exchange.
I don't denigrate people on/for what they do with or the nature of their personal investments. (I do get upset when my tax $ goes towards WMD's @ Millions + per unit)
There are few that have a handle on any financial universe. The rules, laws, and activities of wall street are very convoluted "INSTRUMENTS" and rarely understood by anyone! Often even the inventors of financial instruments don't fully understand them! That means virtually no one has a handle of much substance in any financial universe except, in this case, a handful that wants to suppress any other investment forms they don't have control over.
People want to mock and deride alt systems when they don't even understand how the one they appear to endorse works either. Do I want to have a little piece of financial magic or provide a safety net or possible opportunity? of course.
The context of this fabricated Venn diagram is to promote a theme often used on this site, "Mockery" and this is the reason I'm replying here. This diagram is Factually False, AND A OUTRIGHT LIE! Its intent is to socially censure and dissuade anyone reading here from possibly investing in it even though this site itself accepts crypto for donations.
It's as obvious as the nose on one's face. False, opinionated, and prejudicial information is the theme of this anti-crypto thread. It's possible the thread is a balm and salve for jealousy.
I could care less if you buy or don't buy crypto. All investments involve risk. That is made clear in nearly any investment you make. It's a small wager/gamble I made and excuse me if my bet paid off a bit. That doesn't make me stupid, evil, a neocon Trumper, an antivaxxer or part of any rightwing or leftwing nuttery. I'm not going to influence or harm anyone with my tiny crypto investment.
Hopefully the demand for NFTs will follow the crypto down that sinkhole.
I recall several people trying to demystify crypto for me and when I kept pointing out that absolutely nothing of value has been created despite all the energy spent in the mining they would deride me as a boomer dinosaur.
More scam crypto websites. Bitcoin falling faster than Comet Shoemaker–Levy 9. Makes sense of the claims
@hotrudderedbum already has.
@Charon the Ferryman Like the Shoemaker comet reference. That was one spectacular show when Jupiter's gravity shredded the comet.
I like how the "broke" area somewhat resembles the Bermuda Triangle. People that believe all three circles are honest, legitimate and true are that far gone (in the triangle).