2 months ago16 points(+0/-0/+16Score on mirror)4 children
Most people don't understand that for there to be winners in crypto, there have to be more losers. Coins aren't stocks, meaning they're not tied to a business that sells anything. So where's the money come from? It comes from new people putting their new money in the pot. That's the only way coins increase in value: fresh idiots pouring in their money. So people buying-in today are hoping more idiots come along tomorrow to put yet more money into the pot that they can walk off with. It's half a Ponzi scheme. Like you said, it's gambling.
2 months ago9 points(+0/-0/+9Score on mirror)1 child
Absolutely. Insider trading laws don't apply to crypto, even though you're still paying capital gains and they've counted as liquid assets. I'm telling you, the whole thing is being exploited by all the old guys who knew the game back int he 80s.
The price of electricity, processing "labor", rarity, etc.
Hate to break it to you, but precious metals aren't worth anything either. They literally just sit in the ground. I don't feel like writing, again, why they are worth anything, but most people get it wrong.
Trying to understand wealth and what makes things valuable is an entire branch of economic theory that can't be fully explained in post on a forum. If you're interested, study it. Bitcoin just reached 108k. It's been around almost 20 years. You can be mad if you want, it won't change anything.
Not an entirely good analogy. There are stocks that work exactly the same way. There are companies that never turn a profit but their stocks keep going up.
2 months ago3 points(+0/-0/+3Score on mirror)1 child
The exceptions aren't the rule, dummy. Of course there are stocks like those, but those are not considered successful stocks. But even so, those stocks are still governed under the same rules as the legit stocks. Crypto is a "Wild West" with no rules. Even insider trading laws don't apply to crypto. It's all a fucking scam. Now tell the class how many times you've "bought the dip."
Full disclosure - I made probably mid 6 figures in crypto so I'm biased.
A few years ago, I thought like you - that crypto was BS - and for the most part it absolutely is. Outside of the main ones like BTC LTC and ETH it's mostly horse shit and scams. Stuff like "filecoin" and crap like that have absolutely no actual viable usage. I thought that all crypto including BTC were horse shit because they had no tangible value. Then I realized neither does USD, EUR or most other fiat currencies. They are backed by nothing and printed out of thin air. Bitcoin is at least - in some form - backed by electricity and computing power. You can't just up and create a bitcoin from nothing.
Really it's fiat money that is the jew magic. Crypto is arguably the best thing we have short of returning to some commodity-backed currency. It's not perfect, but it's better then jews creating money out of thin air.
2 months ago9 points(+0/-0/+9Score on mirror)1 child
This is why crypto was allowed to go "mainstream." With stocks, ["Pump and Dump"](https://www.investor.gov/introduction-investing/investing-basics/glossary/pump-and-dump-schemes) schemes are very, very illegal, but were a favorite scam when they were legal back in the 80s. Crypto isn't stock, yet all these exchanges market them like stocks, allowing all the old pump/ dump scams to resurge. "Everything old is new again."
2 months ago10 points(+0/-0/+10Score on mirror)2 children
The jew pump and dump stocks all the time, restrict trading for everyone else, and gets a few minutes of their own to place orders before the market opens for the pleb. It's ironically even worse than unregulated markets.
2 months ago5 points(+0/-0/+5Score on mirror)1 child
Less obvious, but more frequent. It happens every single second. They have their own fiber cables just to get a millisecond faster latency than everyone else. That way they know the future price change and will be able to place an order before everyone else, earning a few hundred bucks every second without anyone noticing.
2 months ago3 points(+0/-0/+3Score on mirror)1 child
Yes, on that I will concede. I would say that day trading isn't possible anymore since you're going up against bank-owned supercomputers with T5 connections making millisecond trades based on algorithms literally written by MIT mathematicians.
It's a bit far fetched that the POTUS would do a rug pull crypto scam. It went up so much so fast because it's a meme coin that you can be fairly fucking certain is NOT going to be a rugpull.
Lot's of shit coins because it's so easy to fork, change the rules in your own favor and then launch. (((Bankers))) have fooled so many idiots out there that you can blindly trust anything that is digital and proprietary, as long as these fools have money, scammers will continue to rob them blind, just like bankers steal everything via fiat shekels.
Legit coins must be open source, have a purpose, a purpose that your own common sense tells you makes sense. Then and only then could the coin be legit as a tool for it's purpose. Any coin that exist for the sole purpose of "investment" or "get rich quick" is a scam.
Dogecoin is the only legit meme coin, it's a fork of Bitcoin, has it's own chain, it's own reasonable rules, a long history, and is still relevant even tho the dog is dead since many years ago.
>I gave my life savings to a fiat currency based on absolutely nothing–not even in the promise of military invasion and genocide of the offending population if it is ever questioned!
>HOW CAN ***YOU*** BE THIS INCOMPETENT?!
For the wages of sin is death. Everyone who loses a single cent to crypto deserves it.
2 months ago6 points(+1/-0/+5Score on mirror)3 children
He's done every other scam already he snookered them bigly. I wonder what he will do next. I'm hoping for a real-world dystopian game show where Illegal aliens compete to not be trebuchet over da border wall. Pump IT.
2 months ago6 points(+0/-0/+6Score on mirror)1 child
It's hard to explain the trump spell but I'll try my best. I sat my father down and explained the web of israel. I started with "dad, why do we send money to israel " I shit you not he looks at me and says "they are our greatest ally" I have told this boomer about the jews, about White genocide, about immigration, even about fucking adrenochrome and Jefferys fun time Island. He believes me on many topics. But Dumpf has him under some kind of spell. This boomer will look at me and say that jewish supremacy in media, business, and goverment all exist. Yet for some reason he thinks isreal is the only thing that saves us from the muzzy t3rroists. I have shown him proof of the 5 dancing isralis. I even have the footage of the news report with the lady that calls the cops on the van with the 2 towers on it. Yet the Jachin and Boaz ritual of the twin towers was such a powerful mind fucking spell he doesn't buy it.
I imagine this is the state of all miga boomers. Rip.
I am sure the MIGAtards are working themselves into a pretzel right now doing mental gymnastics, coming up with a way to defend and spin this as a good thing.
Some people are into ball pinning. To each their own, I guess. At least with physical media I get some actual enjoyment or use out of it. Then I can pass it along or not. I already got the value.
The price of electricity, processing "labor", rarity, etc.
Hate to break it to you, but precious metals aren't worth anything either. They literally just sit in the ground. I don't feel like writing, again, why they are worth anything, but most people get it wrong.
Trying to understand wealth and what makes things valuable is an entire branch of economic theory that can't be fully explained in post on a forum. If you're interested, study it. Bitcoin just reached 108k. It's been around almost 20 years. You can be mad if you want, it won't change anything.
The fact that people are investing in this and profiting is some next level jew magic.
A few years ago, I thought like you - that crypto was BS - and for the most part it absolutely is. Outside of the main ones like BTC LTC and ETH it's mostly horse shit and scams. Stuff like "filecoin" and crap like that have absolutely no actual viable usage. I thought that all crypto including BTC were horse shit because they had no tangible value. Then I realized neither does USD, EUR or most other fiat currencies. They are backed by nothing and printed out of thin air. Bitcoin is at least - in some form - backed by electricity and computing power. You can't just up and create a bitcoin from nothing.
Really it's fiat money that is the jew magic. Crypto is arguably the best thing we have short of returning to some commodity-backed currency. It's not perfect, but it's better then jews creating money out of thin air.
On that you're absolutely right. No argument.
Legit coins must be open source, have a purpose, a purpose that your own common sense tells you makes sense. Then and only then could the coin be legit as a tool for it's purpose. Any coin that exist for the sole purpose of "investment" or "get rich quick" is a scam.
Dogecoin is the only legit meme coin, it's a fork of Bitcoin, has it's own chain, it's own reasonable rules, a long history, and is still relevant even tho the dog is dead since many years ago.