And yet you completely fail to point out anything that I’m saying is wrong. All you’re doing is saying “you don’t understand.” I make a pretty compelling argument that crypto is a corrupt monetary system backed completely by fiat, with an inflated value fueled by greed and manipulated by billionaires. I didn’t even get into the specifics of the scam iFinex and exchanges pulled on everyone. It was a neat idea until those fuckers saw a way to print money faster than the federal reserve. It still might have some value someday if we can go back to private wallets without exchanges that can shut your account down for sending money to a protesting truck driver in Canada. I’m sorry if you lost money and you’re trying to argue for crypto’s currency legitimacy in hopes that others will hold on for dear life and the market will miraculously upturn. Therein lies the problem - you and everyone argues that “it’s a currency that’ll bring down The Man, man,” and financial institutions are shorting, inflating, manipulating, and just plain scamming. The value just isn’t there, at least not $16k/coin. Maybe $4 (as in $4.00, not thousands). It stings, but my friend, and any other HODLers bored into reading this, get the fuck out of the market and buy something with actual value before another exchange announces “oops we don’t actually have any money.”
I pointed out that your opinion is wrong. Your argument is based on feelings and opinion and has nothing to do with a monetary system. For clarity's sake, BTC (not crypto) is a hedge against inflation, and not (yet) really a currency.
iFinex? You mean FTX? You are proving my point as it is a centrally controlled exchange, not a decentralized solution.
If we can go back to private wallets? Most control their own wallets and there are decentralized exchanges (e.g. Uniswap, Sushiswap, etc.) that are LARGE. You rarely need a centralized exchange except to buy/sell those crypto's not available on centralized exchanges. And even cashing out is moving to stable coins like USDC (which VISA is moving towards adopting.) Again, you show your lack of knowledge.
There is no value of a coin without saying the supply. $4 X (supply) = market cap. BTC has only around 18 million coins right now. BTC needs to be worth a few trillion in market cap to function as intended. You really don't understand basic economics.
I rest my case, you don't know what you are talking about but thanks for proving that to anyone with a little bit of knowledge of crypto that happened to read this thread.
Call it an opinion all you want. The price of btc over the last 18 months says otherwise.
IFinex, the scammers that operated Bitfinex and the laughable Tether. Yeah different from FTX, dummy.
The value of all the coins are manipulated by the centralized exchanges, plain and simple. Every time one is exposed as having no money to back their users, the price of btc drops. It’s like watching dominos in slow motion. Who’s next? How much will your precious investment (oh sorry, currency) be worth when Gemini, Kraken, Binance are exposed?
Nope, I understand fully.
Not to anyone reading. 😂
And yet you completely fail to point out anything that I’m saying is wrong. All you’re doing is saying “you don’t understand.” I make a pretty compelling argument that crypto is a corrupt monetary system backed completely by fiat, with an inflated value fueled by greed and manipulated by billionaires. I didn’t even get into the specifics of the scam iFinex and exchanges pulled on everyone. It was a neat idea until those fuckers saw a way to print money faster than the federal reserve. It still might have some value someday if we can go back to private wallets without exchanges that can shut your account down for sending money to a protesting truck driver in Canada. I’m sorry if you lost money and you’re trying to argue for crypto’s currency legitimacy in hopes that others will hold on for dear life and the market will miraculously upturn. Therein lies the problem - you and everyone argues that “it’s a currency that’ll bring down The Man, man,” and financial institutions are shorting, inflating, manipulating, and just plain scamming. The value just isn’t there, at least not $16k/coin. Maybe $4 (as in $4.00, not thousands). It stings, but my friend, and any other HODLers bored into reading this, get the fuck out of the market and buy something with actual value before another exchange announces “oops we don’t actually have any money.”
Or yeah, maybe I don’t understand.
I pointed out that your opinion is wrong. Your argument is based on feelings and opinion and has nothing to do with a monetary system. For clarity's sake, BTC (not crypto) is a hedge against inflation, and not (yet) really a currency.
iFinex? You mean FTX? You are proving my point as it is a centrally controlled exchange, not a decentralized solution.
If we can go back to private wallets? Most control their own wallets and there are decentralized exchanges (e.g. Uniswap, Sushiswap, etc.) that are LARGE. You rarely need a centralized exchange except to buy/sell those crypto's not available on centralized exchanges. And even cashing out is moving to stable coins like USDC (which VISA is moving towards adopting.) Again, you show your lack of knowledge.
There is no value of a coin without saying the supply. $4 X (supply) = market cap. BTC has only around 18 million coins right now. BTC needs to be worth a few trillion in market cap to function as intended. You really don't understand basic economics.
I rest my case, you don't know what you are talking about but thanks for proving that to anyone with a little bit of knowledge of crypto that happened to read this thread.
So yeah, you don't understand. 😂
Call it an opinion all you want. The price of btc over the last 18 months says otherwise.
IFinex, the scammers that operated Bitfinex and the laughable Tether. Yeah different from FTX, dummy.
The value of all the coins are manipulated by the centralized exchanges, plain and simple. Every time one is exposed as having no money to back their users, the price of btc drops. It’s like watching dominos in slow motion. Who’s next? How much will your precious investment (oh sorry, currency) be worth when Gemini, Kraken, Binance are exposed?