The Blackangel Posted May 25, 2022 Share Posted May 25, 2022 There is a lot of talk about cryptocurrency here on the forums. And a lot of it is derailing threads that it has nothing to do with. I for one am tired of it, and I know a lot of other people are as well. Therefore if you want to make any mention of cryptocurrency in any capacity, do it here in this thread. Leave other threads to stay on topic. If you're wanting to direct your comment to a specific member for whatever reason, you just have to mention them. They will get the notification. Link to comment Share on other sites More sharing options...
Reality vs Adventure Posted May 25, 2022 Share Posted May 25, 2022 I still don't even know exactly what it is. I've looked it up several times and I see the same terms used over and over as if the definition itself doesn't know what it is. All I know is that it starts with crypt-which is death. It's not protected by a bank. Link to comment Share on other sites More sharing options...
The Blackangel Posted May 25, 2022 Author Share Posted May 25, 2022 From what I understand, it's untraceable virtual money. Take your bank account for example. Let's say you have $1,000 in it. You don't have $1,000 cash in your wallet. Cryptocurrency works the same way. You would have a form of bank account that instead of having cash behind it, you would have the company you bought from backing it. It's somewhat along the same lines as the NFT bullshit. You buy something virtual, and hope you don't lose your ass doing so. It's why I don't buy cryptocurrency. I don't trust it. I invest in something more tangible. Which is why I buy a troy of silver every month. The price of silver fluctuates by the second, but it holds it's value really well. I would invest in gold, but can't afford it in any way, shape, or form. Reality vs Adventure 1 Link to comment Share on other sites More sharing options...
Reality vs Adventure Posted May 25, 2022 Share Posted May 25, 2022 (edited) I also have physical collectible items that will increase in value no matter what. As far as crypto, I don't see why I would own any if it floats around in the virtual world where it isn't protected by a bank. In the USA, all banks are FDIC insured up to $250,000. Even in economy collapse, you obviously won't have access to your money when everyone tries to cash out at the same time, but the bank will still have an IOU. I imagine the same would be for Crypto if everybody tried to cash out at the same time, except there wouldn't be an IOU. What you lose, you lose for good. Edited May 25, 2022 by Reality vs Adventure Link to comment Share on other sites More sharing options...
The Blackangel Posted May 25, 2022 Author Share Posted May 25, 2022 (edited) 10 minutes ago, Reality vs Adventure said: I also have physical collectible items that will increase in value no matter what. As far as crypto, I don't see why I would own any if it floats around in the virtual world where it isn't protected by a bank. In the USA, all banks are FDIC insured up to $250,000. Even in economy collapse, you obviously won't have access to your money when everyone tries to cash out at the same time, but the bank will still have an IOU. I imagine the same would be for Crypto if everybody tried to cash out at the same time, except there wouldn't be an IOU. What you lose, you lose for good. Pretty much. If Bitcoin or Etherum decides to back out or crypto collapses, you lose what you bought and you're fucked. And with cryptocurrencies being decentralized and just floating on the web, you have no legal guarantees of anything. I just flat out don't trust it. Wikipedia covers it really well. Especially in this section. Edited May 25, 2022 by The Blackangel Link to comment Share on other sites More sharing options...
Justin11 Posted May 25, 2022 Share Posted May 25, 2022 I don't invest in stocks, or precious stones like Gold, Silver, I don't know much about them. I am into crypto investment, because I've studied the market trend, and got the basic knowledge how to invest at low risk. I don't bring crypto discussions on every topic in this forum, because I don't want to derail the topic, make others feel bad. I think here is the ideal place to talk about any crypto related information for those interested. Link to comment Share on other sites More sharing options...
killamch89 Posted May 29, 2022 Share Posted May 29, 2022 I do have bit of Bitcoin and Ethereum but that's it really - Monero is also a good one but the rest of the Altcoins are for a lack of a better word (useless). Link to comment Share on other sites More sharing options...
Head_Hunter Posted May 30, 2022 Share Posted May 30, 2022 Did any one see what happened with Luna Terra coin? That's the worst in cryptocurrency history for a well-known coin. Such bearish have not occured for long, you can tell that around Shit coins and not real coins. Luna made lots of investors go broke, they trusted the coin so well, but it's sudden breakdown caused havoc in the crypto world. I didn't invest in the coin, I love investing only around coins with proven use cases and not looking like shit coin that will go rugpull unexpectedly just as Luna Terra did. Link to comment Share on other sites More sharing options...
killamch89 Posted May 30, 2022 Share Posted May 30, 2022 2 minutes ago, Head_Hunter said: Did any one see what happened with Luna Terra coin? That's the worst in cryptocurrency history for a well-known coin. Such bearish have not occured for long, you can tell that around Shit coins and not real coins. Luna made lots of investors go broke, they trusted the coin so well, but it's sudden breakdown caused havoc in the crypto world. I didn't invest in the coin, I love investing only around coins with proven use cases and not looking like shit coin that will go rugpull unexpectedly just as Luna Terra did. The problem is when people don't do their proper research and just jump on a bandwagon with lots of lies and fairytales. Honestly, the same thing happened with Bitconnect 5 years ago and yet these people still haven't learned yet. Link to comment Share on other sites More sharing options...
Head_Hunter Posted May 30, 2022 Share Posted May 30, 2022 4 minutes ago, killamch89 said: The problem is when people don't do their proper research and just jump on a bandwagon with lots of lies and fairytales. Honestly, the same thing happened with Bitconnect 5 years ago and yet these people still haven't learned yet. Big shocker indeed, I don't invest long time this days around cryptocurrencies, I just do short term trade around BTC, ETH, BNB and USDT. I don't want to suffer much heartbreak trading this cryptocurrencies, I do it when I have spare time. Rug pull is much more common around the digital assets this days, and what happened within Luna won't be the last. Link to comment Share on other sites More sharing options...
killamch89 Posted May 30, 2022 Share Posted May 30, 2022 34 minutes ago, Head_Hunter said: Big shocker indeed, I don't invest long time this days around cryptocurrencies, I just do short term trade around BTC, ETH, BNB and USDT. I don't want to suffer much heartbreak trading this cryptocurrencies, I do it when I have spare time. Rug pull is much more common around the digital assets this days, and what happened within Luna won't be the last. The worst thing is that Luna 2.0 is launching and you have idiots supporting that as well. I can't stop laughing... Head_Hunter 1 Link to comment Share on other sites More sharing options...
Head_Hunter Posted May 30, 2022 Share Posted May 30, 2022 25 minutes ago, killamch89 said: The worst thing is that Luna 2.0 is launching and you have idiots supporting that as well. I can't stop laughing... It pokes fun buddy, you should keep on laughing those investing in the Luna classic coin, because the worst will still come to them. Link to comment Share on other sites More sharing options...
killamch89 Posted May 30, 2022 Share Posted May 30, 2022 Just now, Head_Hunter said: It pokes fun buddy, you should keep on laughing those investing in the Luna classic coin, because the worst will still come to them. I'm kind of interested as to why no form of law enforcement agency hasn't looked into this as yet - I mean, it's clearly a ponzi scheme and yet, nobody has bothered to start investigating the founders of the project. Link to comment Share on other sites More sharing options...
Head_Hunter Posted May 30, 2022 Share Posted May 30, 2022 1 minute ago, killamch89 said: I'm kind of interested as to why no form of law enforcement agency hasn't looked into this as yet - I mean, it's clearly a ponzi scheme and yet, nobody has bothered to start investigating the founders of the project. Nice point mate, I thought about that too. Government agencies ought to have looked into it,trace the developers of the coin and question them for causing max loss that touched even the rich so bitterly. Such is Ponzi steps, no difference, because they caused much more losses than profit for investors. killamch89 1 Link to comment Share on other sites More sharing options...
Heatman Posted June 1, 2022 Share Posted June 1, 2022 Finally, I have my comfort zone where I can talk about Cryptocurrency. Thank you @The Blackangelfor creating this thread. I'll pop in my market analysis once in a while here for those interested in it. Link to comment Share on other sites More sharing options...
