The problem with assets that are backed by faith (like crypto, or the Federal Reserve Note), is that they become worthless when people lose faith. A faith backed asset is guaranteed to fail eventually.
Money can be made in the short term, if you can follow the pump and dumps of the power players, but they are never a sound investment in the long term, because faith lasts only as long as there is no evidence against it. If the PTB cause it to crash (and you are a complete idiot if you think they don't have that power) then faith will be lost and they will be worthless. This attack might be just such a situation designed to cause people to lose faith.
I am not saying all crypto is bad. On the contrary, I think such a system is necessary for a stable economy, but only if the crypto is backed by a real, tangible asset. In that case, the crypto itself will never be a sound investment unless the asset it is backed by is a sound investment (like a crypto stock in a company e.g.).
This, ladies and gentlemen, is why you keep your crypto in a cold storage hardware wallet, and NEVER save the key phrases or pin codes to any digital device EVER.
Now would be a good time for the US Mint to start turning out some new gold Double Eagles or Liberties, and real silver silver dollars instead of this tin and copper plated nickel and zinc shit.
Hacked the wallet or the actual block chain? The latter would be earth shattering which is why I think it was the former. The meme doesn't make it clear.
The problem with assets that are backed by faith (like crypto, or the Federal Reserve Note), is that they become worthless when people lose faith. A faith backed asset is guaranteed to fail eventually.
Money can be made in the short term, if you can follow the pump and dumps of the power players, but they are never a sound investment in the long term, because faith lasts only as long as there is no evidence against it. If the PTB cause it to crash (and you are a complete idiot if you think they don't have that power) then faith will be lost and they will be worthless. This attack might be just such a situation designed to cause people to lose faith.
I am not saying all crypto is bad. On the contrary, I think such a system is necessary for a stable economy, but only if the crypto is backed by a real, tangible asset. In that case, the crypto itself will never be a sound investment unless the asset it is backed by is a sound investment (like a crypto stock in a company e.g.).
Never have trusted the hype about Bitcoin, I'll stick to Gold and Silver.
this isn't even about bitcoin. one could own both bitcoin and PMs. You can convert bitcoin into PMs for tax free gains!
This, ladies and gentlemen, is why you keep your crypto in a cold storage hardware wallet, and NEVER save the key phrases or pin codes to any digital device EVER.
Now would be a good time for the US Mint to start turning out some new gold Double Eagles or Liberties, and real silver silver dollars instead of this tin and copper plated nickel and zinc shit.
Hacked the wallet or the actual block chain? The latter would be earth shattering which is why I think it was the former. The meme doesn't make it clear.
Not your keys, not your coins. Never keep anything on an exchange after you make the exchange.
Although my typical crypto advise to friends applies here as well: only invest what you're fully comfortable being worth 0 tomorrow.
INSIDE JOB
VAULT 7
Vault 7?
Think 9/11