Bitcoin seems to be something of a Ponzi or an MLM scheme. If you get in at the very beginning of a hot topic, you can possibly make out very well because people are jumping in not knowing anything about what they’re getting into other than they’re promised riches. It become a self-fulfilling prophecy. More jump in, price goes up. But at a certain point the those who got in early start taking profits and it begins to go down. Ads try to pump it back up but panic sets in and whatever the thing is - collapses and people lose their shirts. when it coes to investing, I’ll goi with Warren Buffet and stay far away from Bitcoins.
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Bitcoin itself isn’t a ponzi, just people aggressively capitalizing on a market.
This coinbase shit though…give them money, they let you use their wallet and crypto on their network to trade. Then there are loopholes to get the $$$ out…seems like a perfect ponzi to me…they wouldn’t even have to actually trade the coin just say they did.
I’ve said it once before, but the point of a Blockchain is so you DONT NEED CENTRALIZED MARKET. The Blockchain does everything, user’s just need to have a wallet configured to trade the crypto they want to trade.
Then there are armchair economists on the news repeating the same jargon about crypto while not saying anything intelligent at all. Anyone can read and reread a press release.
There needs to be a real product on the market, that actually puts crypto to use and isn’t just some wild speculative foray into decentralized fiat currency.
I’m always biting my tongue about crypto and how it should be used, becomes annoying tbh.
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Honestly everything that crypto is doing the Nasdaq already does. Up and downs etc, but it is protected against wild swings with stop trades. If you are into day trading, I’d say it’s really the safest bet (ie no unknown risks) to trade on the Nasdaq.
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The real get down is someone figured out what people were doing with Bitcoin and tried to copy it without taking into account that Bitcoin was being used for actual financial transactions and not technically being traded. They created purely un backed fiat currencies who’s value was completely arbitrary and based purely on market speculation. As some might put it, “A job done half way, is a job done not at all”.
Kinda scary if you think about it…some Tyler Durden type shit. Let’s load the world with speculative currencies and bring the whole system to it’s knees.
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So have speculative currencies become integral market currencies? Has their price become such that they will not bottom out and they are a integral in a healthy market ecosystem? Contributing to the underlying value of the market; strengthening the overall value of the market?
Edit (3 minutes later): So I have an idea…what about a market bridge? Say, you have Bitcoin, you want to buy some low risk stocks and bonds; you should use your Bitcoin as collateral but in the bridge it is in real time so the values are equal…in essence you have both the NYSE stock and the Bitcoin, when you sell or trade the stock, it’s value is reflected in the amount of Bitcoin you have…
(Ya know, one could look at this bridge as a cash option for crypto, cash being the stock…but the idea becomes even more interesting when you look at the values of the stock vs Bitcoin when exchanges take place…)
Truth is stranger than fiction.
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Hello,
i can recommend KuCoin, there is no KYC and
you can exchange your cryptos cheaply there for other cryptos. Like BTC to USDT or XMR.
Anyone getting in on LTC BEFORE HALVING In AUGUST???
I just tried getting back in but card was declined.
I’ve had LTC for 5- 6 years now .
but prepared to dump and hold…bit high right now however im willing to get behind it
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I got out of Litecoin 5 years ago when it dropped 50% from its high of $400+ and the creator of the token sold his whole wallet. Interestingly, that’s twice as high as it is now, a bull run later. BTC was at about $10k after dropping from the ATH of $20k, and ETH was at about $600 after dropping from ATH of $1.5k. Of course, the halving will probably jumpstart things on all chains if past is prologue, since everyone likes numbers going up and rapidly gets carried away thinking they’ll never stop… but long-term, I suspect BTC and ETH will take the lion’s share. Mostly BTC, because Ethereum will probably lose some layer-2s and Bitcoin’s layer-2 token, STX, has already registered as a security and transitioned to a commodity. Ethereum’s layer-2 designers, meanwhile, are whining that it’s impossible and they don’t even want to bother and the SEC should just leave them alone.
That said, at least LTC is one of the four cryptos that Fidelity is confident enough about being commodities that they’re willing to list it on EDX. It’s unlikely to be crushed by a regulatory hammer any time soon, I’d think, though the CFTC is definitely angling to get its pound of flesh from exchanges as well.
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Litecoin creator got out of Litecoin because he was told about this shit years ago. Bitcoin is in the best position because it doesn’t have an “owner”. So he needed to remove himself from the project so he didn’t get tied up with the SEC lawsuits.
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It’s up 25% in 5 days. I was holding some should have got more. You have to be quick.
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What are your thoughts on what’ll happen with the privacy coin Monero? Seems to have taken a similar path that Bitcoin did to garner adoption/legitimacy through dark net markets, ransomware usage and now alphabet boys spending millions to crack the anonymity. I understand there was a security flaw pointed out about not transacting within 30-60minutes of receiving a Monero sum, but otherwise seems to show a lot of promise.
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I haven’t followed Monero as close as I used to, but I still have a little investment stack from a few years ago. I bought it thinking DarkNet markets would need to switch to it since bitcoin is pseudo anonymous. I’ve never even used a DarkNet Market and don’t do anything illegal that would even need Monero so I don’t have much of a use case for it other than speculation.
I’ve thought about just getting rid of it since it seems to be getting delisted from more exchanges now and don’t know how else I would get rid of it once they all go dark.
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I haven’t really followed it; I have a few that I picked up when I first got into crypto, but I’m in the same boat as @imstinky. It could very well end up getting bigger in the case of widespread crypto adoption - there are certainly plenty of crimes being committed with USD that could migrate into another currency, and Monero/ZCash seem to be the only ones decently positioned - but I wouldn’t be able to do much with it myself. Other than growing, I’m not a criminal, and there’s no money involved in my growing. That’s how you get busted. If you’re willing to deal with darknet, my guess would be it’ll get more valuable, but not as much more valuable as BTC would in the case of widespread adoption… or whatever your choice of “legit” token is.
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I checked a few sites and saw some predictions on the price of LTC to go down to $86-94 around july09-14th .
hahaha now I don’t know how certain that is. But I will wait and see.
I see LTC as being very functional
whether it will serve as a investment opportunity - I am not sure.
I don’t read to much into any crypto any more.
I could see it leveling off at $100 per ltc USD just to be cpi zompletely functional as intended.
if I could have that $100 LTC turn into $500 LTC in 6 -12 months to a year haha that would be cool.
I would definitely cash it out though 
lol
. … I got a call at 9PM tonight , Sunday from welland Ontario…didn’t answer
voice mail from a man he was from my bank and to call number on back of card - they’d explain
panicking as I’d booked travel with the card
amazingly.- my wife said ?"? didn’t you try and buy crypto last night???
LOL
they shut everything down…big bank don’t like crypto lol…mmm
crypto with CC…lol
waited on hold for 15 min to be told no one is available.
account is frozen.
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Pretty much. Banks are probably the most highly regulated industry - but most of the regulations come down to “safety and soundness,” which is as much about the subjective view of the regulators on the customers the bank is serving as the bank’s actual operations. Not to get too political here, but the crypto industry has been complaining about being the target of “Operation Choke Point 2.0” for some time. They’re saying the same regulator who was in charge last time the government decided to use the banking system to strangle any industry they disapproved of is in charge now, making the same subjective decisions about who deserves to stay in business based on ideology more than numbers. One of the features of that is freezing accounts of anybody trying to buy crypto “just in case.” After all, it’s an industry full of nothing but criminals and money launderers, right, so therefore anyone trying to use it must also be one. 
No idea how accurate it is - the crypto industry is also whining about it being impossible to comply with regulations that the crypto industry is already complying with. As I mentioned earlier, Bitcoin and its layer-2s are fully compliant and meanwhile every other developer and exchange CEO is saying it’s just impossible to come into compliance and they just aren’t going to bother because Gensler should be fired instead. I genuinely can’t tell who’s lying, but someone is, that’s for sure. That’s in the US, of course, but Canada’s had very much the same regulatory stance since people started using crypto to evade financial restrictions during the truckers’ strike. Those financial restrictions may or may not have been unconstitutional, so yeah… all a big political mess now. I’m feeling like I should shut up because even talking about this might offend someone, though I’m trying to be unbiased and just present what I know of the facts and my intense confusion about them.
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It’s crypto. It’s not some super secret thing. You aren’t offending anyone by talking about it or buying it. You can buy it on Robinhood. Just basically another trinket they are letting us bet on.
If your bank won’t let you buy any, then I’d leave that bank. Money talks.
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Crypto’s fine, but discussing politics is against the site’s rules and a good way to get a thread shut down. As I said, I was drifting into politics - only because crypto’s getting big enough that it’s tough to discuss what’s happening and/or going to happen without getting into politics. As an investor, I try to be agnostic about politics, but I have to be aware of them. Robinhood is in the process of removing several crypto tokens from its platform because of precisely those politics. Only a few to start, but it’s notable that Fidelity only put 4 tokens onto EDX. Of those 4, one has been alleged to be a security already by NYS regulators in another case. So yeah, I’m gonna stick with calling it a big political mess. That’s the only reason I’m mentioning it, since politics is a surefire way to get threads shut down if people get offended.
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