They are all scams, like the stock market, but worse. Wealthy people buy up decent amounts of crypto at a small price. Then they or others build the hype around it, having others throw their dollars into it. Rich person watches the pot rise, and strategically pulls out as it inflates, wash, rinse, repeat.
They are far from all scams. Just because you don’t understand it, doesn’t make it a scam. Is it volatile as fuck, absolutely. Does blockchain have a huge potential to change the world, absolutely.
I told you exactly how it is a scam. The scam, the way I described it, explains why it is "volitile.". People exchange real currency for coins. You buy a bunch at a low price, get other people to throw money in, you then strategically pull yours out, you make money. You are literally selling hype. And the blockchain/mining aspect? Well, it sure has advance d NVIDIA and AMD graphics cards quite a ways. Don't be mad at me because I am the heckler ruining your financial sleight of hand in front of everyone. You know just as well as I do those "coins" have no intrinsic value. They are glorified money laundering Ponzi schemes. A digital pachinko machine for the lucky few.
As crypto adoption increases so does its stability. Far preferable to The Fed (private US central bank) printing $1 Trillion every time Congress thinks we're in a new crisis. Volatility and scams are directly related to the unanchored US dollar and naked short selling. The way forward is cryptos, a stripped down Wall Street, and a return to a gold and silver standard.
I get the waning value of the dollar. I understand it muscling in on the fed. What everyone fails to grasp is once the dollar is removed from the world reserve currency, cryptos take a massive shit as well. Everyone I know, has been bragging about their cryptos and how much they are worth......in $USD (believe me, the irony is not lost on me). The cryptos are only worth what people are willing to exchange for them. People being excited about the dollar value of their cryptos is like some sort of fiatception. While I understand the concept behind why cryptos are around and what they seem to accomplish (even with vulnerabilities such as %51 attacks) their stability is still wholly faith based on the currency itself and healthy economies.
Do you understand how a 51% attack works? A hard fork? At any rate, even being decentralized, I can see wealthy people manipulating crypto, much in the same ways, they vote to raise debt ceilings and decide to print more money, though through more advanced means.
They are all scams, like the stock market, but worse. Wealthy people buy up decent amounts of crypto at a small price. Then they or others build the hype around it, having others throw their dollars into it. Rich person watches the pot rise, and strategically pulls out as it inflates, wash, rinse, repeat.
They are far from all scams. Just because you don’t understand it, doesn’t make it a scam. Is it volatile as fuck, absolutely. Does blockchain have a huge potential to change the world, absolutely.
I told you exactly how it is a scam. The scam, the way I described it, explains why it is "volitile.". People exchange real currency for coins. You buy a bunch at a low price, get other people to throw money in, you then strategically pull yours out, you make money. You are literally selling hype. And the blockchain/mining aspect? Well, it sure has advance d NVIDIA and AMD graphics cards quite a ways. Don't be mad at me because I am the heckler ruining your financial sleight of hand in front of everyone. You know just as well as I do those "coins" have no intrinsic value. They are glorified money laundering Ponzi schemes. A digital pachinko machine for the lucky few.
As crypto adoption increases so does its stability. Far preferable to The Fed (private US central bank) printing $1 Trillion every time Congress thinks we're in a new crisis. Volatility and scams are directly related to the unanchored US dollar and naked short selling. The way forward is cryptos, a stripped down Wall Street, and a return to a gold and silver standard.
I get the waning value of the dollar. I understand it muscling in on the fed. What everyone fails to grasp is once the dollar is removed from the world reserve currency, cryptos take a massive shit as well. Everyone I know, has been bragging about their cryptos and how much they are worth......in $USD (believe me, the irony is not lost on me). The cryptos are only worth what people are willing to exchange for them. People being excited about the dollar value of their cryptos is like some sort of fiatception. While I understand the concept behind why cryptos are around and what they seem to accomplish (even with vulnerabilities such as %51 attacks) their stability is still wholly faith based on the currency itself and healthy economies.
Do you understand how blockchain works?
Do you understand how a 51% attack works? A hard fork? At any rate, even being decentralized, I can see wealthy people manipulating crypto, much in the same ways, they vote to raise debt ceilings and decide to print more money, though through more advanced means.
GameStop was fun. In and out within 24 hours