https://www.google.com/finance/quote/BTC-USD?window=1M
https://coinmarketcap.com/currencies/ethereum/
Former US President Donald Trump: Crypto Is A Disaster Waiting To Happen
I have a libtard coworker who has sank a lot money in to this ponzi scheme, I tried to warn him over a year ago. I told him Trump doesn't like crypto, take my advice and get out now, he didn't listen to me. I have a couple other libtard coworkers who voted for Biden, they won't even look me in the eye these days.
Q told us, gold will destroy the Fed. I'm telling you a precious metal backed currency will destroy crypto. People got in to crypto because of fiat currency. If gold destroys the Fed, Trump releases a new currency back with hard assets, crypto will die.
Gold already failed.
Gold ends up in vaults.
Vaults get controlled.
Bitcoin is digital gold, leaked from the NSA lab as a white-hat op.
Digital gold ends the fed.
But not all crypto is the same.
Bitcoin is “digital gold”
Ethereum is kind of like a merchant market
And then there’s XRP, which is hoping to replace the FAST system for international payments.
You know how long it takes to ship paper/metals to Asia? to complete a transaction? I think even the FEDs FASY system takes from 24th s to a week.
You're missing something...
A gold backed crypto. It's coming and may already exist. XRP may have that potential built in already.
Regardless, once we can all 3D print anything we want -- including gold (we already have the technology) we're going to look at money a lot differently.
Pax gold is one. There are others. Pax gold allows you to enter your wallet address and get the serial number and other information about your gold bar.
You can also exchange the token for the physical gold bar.
Kinda like the vaccines, when you wake up dead it means its working?
I was being facetious. I wasn't trying to correlate the value of crypto to a vaccine. What I meant is you can take the vaccine and then go buy some crypto and one day soon you will wake up dead and broke.
No, he means that all crypto will eventually devalue to a set amount based on it's generation rates.
So, like any other form of currency, it's worth what people think it's worth. Nothing special there.
But unlike other forms of currency, there is a factual dead-limit to how much can exist in a livable time-frame.
Crypto is based on lock-key cipher systems that you then certify with the blockchain holder for the crypto rights. (To put it briefly).
It's based on mathematics, where solving for all possible solutions for X, where X can have variable solutions. So, for example, you can make 10 using the following solutions: 1+9=10, 2+8=10, 3+7=10, 4+6=10, 5+5=10.
Once I have proven that those are all the possible combinations to make 10, then I certify my work, and I get a single coin. Now do this for every possible number, algorithmically, and you can see that the 100,000,000th bitcoin is gonna take a lot longer to generate.
They get longer and longer to generate such that eventually the graphics card you are generating it on will burn out before you get a solution. In some joint-network calculations, it will get as long as a human lifetime.
In summary, the first coins generated from a crypto are produced fast. The production of them gets slower and slower until it stalls completely. At that point, the currency is locked in at a total amount of coin available.
BTC, being one of the first, is arriving at its limit. The diminishing returns have locked in, and now it's taking years if not decades of number crunching to create one certified coin.
The value of the coin then is expected to go down. This is because ventures for farming it is perpetually operating at a loss. It's like when a video game ceases updates. With no new content, the user base dies off, interest wanes, microtransactions cease, and investors will shift to newer projects.
It WILL stabilize, but only at what it is truly valued at. This is the volatile nature of crypto. It will always peak and then dip and then plateau. Wise investors will calculate where it is supposed to plateau in value after the inevitable dip and only invest so long as the cost per coin is less than that anticipated leveling off.
Everyone who invested after the future plateau threshold will have lost money.
This is one of the greater flaws of crypto, as it has a market interest life span. Effectively, like game releases, the stuff "expires."
I will note, this is still a theoretical. Bitcoin (BTC), being among the first to gain prominence, means we are in uncharted water. Things beyond the scope of prediction can occur, which might shift the value any which way.
u/RabbleRabbleRabble is correct, this is expected, but only to a point.
It is only expected as it can be predicted. Since we have never had a currency form like this, and it still hasn't caught on in mass (major retailers still don't take it at the counter) we can only speculate what will happen next.
In my opinion, the volatility and nature for transaction (Jonah in Alaska whose most advanced technological possession is a HAM radio can't understand crytpo) mean that only those who are able to sustain the loss should hang their hopes on it.
I started with BTC at $150/coin. I’m ok
You cant even shove them up their asses because it doesn't exist.
Gold will always result in central banking. Never again will we fall for that scam.
Bitcoin only.
They could be uploaded into elon musks new brain chips. Im sure there will be an anal attachment accessory.
Bitcoin is a white-hat op, our one and only shot at ending central bankers and the usery that enslaves us all.
Trump said Bitcoin was based on "thin-air", triggering precisely the response by the masses that in fact its the dollar thats printed out of thin air.
Melania tweeting pro-Bitcoin stuff under the guise of an NFT
Bitcoin is full of Patriots and Space Boys.
All markets are tied currently to FED liquidity, US100 isn't doing any better.
If you're still sleeping on Bitcoin at this point. Have Fun Staying Poor :tm:
Op NGMI
Crypto is much more than a currency. Blockchain technology can be used today to have the most secure, fraud proof elections we've ever had. There is almost zero way to tamper with this technology.
Crypto, including Bitcoin, as they stand today is like the internet in the mid 90's. It's a new technology that not a lot of people understand. It's early adoption. It was criticized as a fad. Look where the internet has taken us today. Now if you can go back in time to 1995 and invest in internet related stocks, think of the money that can be made? This is exactly where we are at with crypto.
Now just like the 2000s bubble where many tech companies failed, lots of crypto projects will fail. But many will succeed that will transform humanity in ways we don't even know yet, just like we didn't know how the internet would change the world back in the 90's.
Projects like Bitcoin are completely decentralized. Governments can regulate it, but they can't alter it. The IRS can't seize your Bitcoin. It helps create stability in hyperinflation countries.
If you are bashing crypto, you don't know crypto and don' have enough knowledge to bash it in the first place.
Crypto can centralized or decentralized depending on the project and the motives. Now you should NEVER trust government issued crypto (CBDC) that is being talked about because it will be centralized with unlimited cap. Bitcoin is decentralized with 21,000,000 coin cap.
Do your deep dive research.
But BC is controlled by China.
You're confused China controls the USD and not BTC. BTC is completely decentralized and owned by nobody.
Shows your lack of understanding of how markets work. I didn’t say direct control, but they do control it.
If you want to have a good faith conversation, let's have it. But what you're responding with isn't adding zero value to anyone reading this.
Yes whales exist. Yes lots of mining exists in China.That doesn't mean China controls Bitcoin. That must mean Khazakstan controls Bitcoin.
I appreciate what you’re saying but Bitcoin is used by the deep state to prop up their other positions in the market. China controls the bulk of the mining. What more can I say? Oh yeah Trump has not backed it, in fact just the opposite. That’s all good faith info, I’m not trying to troll you... of course it’s just my opinion.
I do agree, the deep state will use any means they can to take money from us and definitely are able to become whales and manipulate the markets. But just like Forex trading, if you take the time to learn to trade with the big boys, ie the banks, you can be very profitable trading with them. And in the case of Bitcoin, if you buy the lows and take some profits at all time highs, ie trading with the big boys, you can make money along with them.
I think that is sound logic.
https://www.bitcoinisdead.org/
Ever since leverage trading was introduced onto exchanges, the market has become heavily manipulated. It follows much like the stock market now, only there aren't stop measures for when prices fall or gain 5% within the same day.
Cabal is attempting to crash system and take everything with it.
How much buying power has the US dollar lost in the last year?
Its not a secret, the Fed is dying. When it is dead, a new precious metal backed currency will be released. Crypto was born to protect wealth from deflation. Our new currency will be backed by hard assets, crypto is a fad that will soon die. I would trust Trump knows what he is talking about and take his advice.
No, Clif High said it is going to go more than 5X it's lowest value. It's just the way things go. I dont' own any, though, so I don't have to sweat this out.
The Crypto is the Wild West of investing. Unregulated for the most part, so of course major financial institutions can manipulate price with even less oversight. I believe they are allowed 100:1 leverage on Crypto, so I personally expect upcoming crash greater than even the Stock Market will see. Just my opinion....
10:1 is the most common crypto leverage recently. Exchanges changed this after the last dip caused mass liquidations for over leveraged traders. In the Forex market you can leverage 500:1 where 6 trillion dollars are traded every day. Is the Forex market going to crash the system?
You are correct in describing it as a ponzi scheme.
The people investing HATE that description, but it's clear when watching the markets.
When people invest the price jumps, when they sell the price drops. Any investment that changes value on the movement of investors is by definition a ponzi scheme.
Have ponzi schemes existed in crypto? Yes. Are there dozens of legit projects that offer real world value? Yes.
Have ponzi schemes existed outside of crypto? Yes. Does this mean all projects are ponzi schemes? No.
Worse, the crypto markets are built as a ponzi scheme.
There is no separation between a surge of investment and the price movement. Honestly, the best saving grace those markets have is NOT being considered securities because if they were they would be tossing 20 year sentences out like candy on Halloween.
It's similar to the stock market where the prices are mostly determined by speculation of future results. In this case, crypto prices are based on speculation of future adoption.
Not really, the closest analog is an IPO where the more investments the higher the price surges. Outside of that, a massive investment might increase a price, but less so because the company has an inherent value (machines, buildings, whatever).
The bottom line is that cryptos maintain a price because more people are dabbling, however, if there was ever a run on cryptos, the price would hit zero with plenty of people still holding the bag.
DWAC is a good comparison that many people here can relate to. It has no product yet, priced only on speculation. It's also been extremely volatile. It has the chance to not come out with a viable product and crash to zero. And it also has a chance to come out with a great product that gets adopted by the masses in the future.
The early investors who were willing to take the risk on a company they believed will make a lot of money if DWAC comes out with a product people use. And the early investors will lose money if the product never gets released or fails to meet expectations.
Or it's like buying Tesla stock in 2010. They released a car, had a product, but it was a small niche in 2010. If you saw the potential you could have taken the risk in 2010 and made a boat load of money today. You could have invested in it's early adoption in 2011, 2012, all the way to 2019 and then BAM, 2020, the price goes off.
With crypto, we are in still in the early adoption phase and nobody knows where it will go, just like Tesla in 2003 when the company formed. All the way to 2008 when they released their first car. It's a speculative risk to invest. Some cryptos will fail, and some will have widespread adoption.