crypto

Started by 8OR9, May 27, 2022, 02:05:54 PM

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8OR9

I think there were some posts about speculating in crypto currencies......maybe you should read this article in the wall street journal before you risk your hard  earned dollars in a crypto currency.

https://www.wsj.com/articles/terrausd-crash-led-to-vanished-savings-shattered-dreams-11653649201

Sorry.......I tried the link and there is a pay wall for the Journal ( have to subscribe to the Journal to read the article)  so you probably will not be able to read the article.

The article said that numerous people lost their life savings trading crypto.  Classic example of a herd mentality bubble.

Nothing comes easy in life.......unless you have rich parents who leave you a lot of money when they die.

alrelax

You are exactly right! 

I also heard the same thing on a tv show about the financials regarding that. 
My Blog within BetSelection Board: https://betselection.cc/alrelax's-blog/

Played well over 34,998 shoes of baccarat since I started playing at B&M USA casinos.

"Don't say it's a winning hand until you are getting paid for it".

Played numerous properties in Las Vegas, Reno, Southern California, Atlantic City, Connecticut, South Florida, The South/Southeast as well as most areas of The Midwest.

Baccarat, actually a mixture of Watergate, attacking the Gotti Family and the famous ear biting Tyson fight leading to disqualification and a near riot.  Bac has all that & more.

EMAIL: Betselectionboard@Gmail.Com

8OR9

Here is another interesting article on Crypto trading........which has become an absolute financial nightmare for some people.


https://news.yahoo.com/lost-major-coin-now-tax-024520554.html




KungFuBac

Thx 8OR9 for posts.

It will be interesting to see if governments try to prosecute the crypto Cos that purposefully misled investors. This was such a new entity that most governments didn't even have a department, policy, laws,..etc.  I doubt governments will pursue to prosecute unless they perceive a possible confiscation of assets(If assets can even be located).

This whole thing really mimics the dot.com hype/destruction 20 years ago. So many companies were trying to get the words: Dot or Com in their name. Similar to now when many crypto companies tried to get the words: Bit, Coin, and Crypto into their name. Not so much now.


Probably a lot of consolidation going forward. The surviving crypto/crypto related companies certainly have a blue print going forward(on what not to do). Several unchecked boxes for the whole industry in upcoming decade. The more
healthy/legitimate companies will check the boxes.

Trust: unchecked
Transaction Anonymity: unchecked
Non Traceable: unchecked
Pegged to Intrinsically Valued Asset(& Verifiable): unchecked

A lot of opportunities in the field going forward as IMO many countries and the financial industry as a whole will continue moving toward a digital currency. The blockchain and similar technology will lend itself to this transition.

Just my thoughts and I may very well be incorrect and certainly Non informed.



Hopefully XXVV will chime in /offer his informed opinions and experience in all things crypto.




Continued Success,

"There are many large numbers smaller than one."

8OR9

More crypto nightmare stories:

https://www.cnbc.com/2022/08/02/hackers-drain-nearly-200-million-from-crypto-startup-nomad.html

Here are some really sad stories about investing in crypto.......especially the guy who put his entire life savings into crypto......never put your entire lifesavings in anything.....only put 1% of your life savings into something as unpredictable as crypto.

https://www.cnbc.com/2022/08/02/celsius-investors-owed-4point7-billion-beg-judge-to-recover-life-savings.html




alrelax

The whole movement will be worth a heck of a lot less next summer (summer or even earlier than 2023). 

Watch and see. Recession and Devaluation stirred extremely well together, extremely. 

Did I mention extremely?
My Blog within BetSelection Board: https://betselection.cc/alrelax's-blog/

Played well over 34,998 shoes of baccarat since I started playing at B&M USA casinos.

"Don't say it's a winning hand until you are getting paid for it".

Played numerous properties in Las Vegas, Reno, Southern California, Atlantic City, Connecticut, South Florida, The South/Southeast as well as most areas of The Midwest.

Baccarat, actually a mixture of Watergate, attacking the Gotti Family and the famous ear biting Tyson fight leading to disqualification and a near riot.  Bac has all that & more.

EMAIL: Betselectionboard@Gmail.Com


KungFuBac

Thx 8OR9--a good read.

I see these articles and wonder how much of the stolen(& retrieved) crypto money will be returned to the owner(IOW how much does the government(s) keep).

*Another thought I am reminded of is from the beginning some of the key attributes many crypto Co. touted were:
A) Its safe and can neverevernever be hacked. 
B)Its the only transactions in the whole wide world that has total anonymity.

"Nope/Nope"


Continued Success,
"There are many large numbers smaller than one."