Current Events > crypto has had the largest loss in history

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DarkRoast
06/18/22 8:52:37 AM
#101:


Marauder64 posted...
Crypto goes up, crypto goes down..news at 11.

https://gamefaqs.gamespot.com/a/user_image/4/1/4/AAeEwGAADWs2.jpg

Crypto goes down.

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Marauder64
06/18/22 9:00:10 AM
#102:


DarkRoast posted...
https://gamefaqs.gamespot.com/a/user_image/4/1/4/AAeEwGAADWs2.jpg

Crypto goes down.

So do stocks, which is now in bear market territory.

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DarkRoast
06/18/22 9:06:40 AM
#103:


Marauder64 posted...
So do stocks, which is now in bear market territory.


1. Crypto isn't stocks. Stocks actually have intrinsic value, not just speculative value.

2. If the markets were down an average of 60% in 6 months (and 40% in one month) the financial system would collapse.

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Mearcstapa
06/18/22 9:08:30 AM
#104:


Marauder64 posted...
So do stocks, which is now in bear market territory.

buttcoin is down 70%, while stocks are down just 25% and have some actual underlying value.

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IShall_Run_Amok
06/18/22 9:12:00 AM
#105:


Pepys Monster posted...
Shut the fuck up.
Ahahaha.

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Slayer_22
06/18/22 9:23:08 AM
#106:


DarkRoast posted...
Crypto isn't a stock. It's a zero-sum game. Every dollar you make is a dollar lost by somebody else.
Okay, and this has nothing to with scamming. I also don't feel bad when I beat a friend at pool and win 20 bucks lmao.

Explain how it's a scam, and please use the definition if the word. Thank you.

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Tyranthraxus
06/18/22 9:23:53 AM
#107:


Marauder64 posted...
So do stocks, which is now in bear market territory.

FYI you can make money in a bear market with puts and shorts.

There's no way to make money off what's happening to crypto. Best you can do is cut losses.

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Slayer_22
06/18/22 9:26:52 AM
#108:


Tyranthraxus posted...
FYI you can make money in a bear market with puts and shorts.

There's no way to make money off what's happening to crypto. Best you can do is cut losses.
I mean, you definitely can with staking and the like. Just not a particularly large amount.

But in the end, I don't go for ETH, BTC, whatever. I go for stuff that I can buy and sell quickly and hopefully make a ton of money off of. Which I have! I only ever invested 600 dollars and I've made a couple of thousand beyond that lol.

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hortanz
06/18/22 9:47:49 AM
#109:


this story loops every 2-3 or so years
buy the dip

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Marauder64
06/18/22 10:00:59 AM
#110:


Tyranthraxus posted...
FYI you can make money in a bear market with puts and shorts.

There's no way to make money off what's happening to crypto. Best you can do is cut losses.

Um, yes you can.

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dummy420
06/18/22 10:01:45 AM
#111:


I'm gonna be honest. I never invested in crypto because I just don't get it. It's a secure form of money sure but whenever I hear of it being used as money that's where it makes no sense. You can't base trade off something so volatile IMO. Whenever you see dollars fluctuate like that the country using that currency is pretty much in a failed state.

Tons of millionaires and even billionaires have been made with it. But I don't get why?

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Lebronwon
06/18/22 10:13:18 AM
#112:


dummy420 posted...
I'm gonna be honest. I never invested in crypto because I just don't get it. It's a secure form of money sure but whenever I hear of it being used as money that's where it makes no sense. You can't base trade off something so volatile IMO. Whenever you see dollars fluctuate like that the country using that currency is pretty much in a failed state.

Tons of millionaires and even billionaires have been made with it. But I don't get why?

I didnt get into it either. When I first thought about buying bitcoin in December 2017 it was going up day after day and was around 19,500.

Tried to set up Coinbase account only to find out my state was one that banned the purchases/selling of it in those days. I guess I didnt miss much it is around the same price now 4-5 years later.

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the_rowan
06/18/22 10:14:31 AM
#113:


dummy420 posted...
I'm gonna be honest. I never invested in crypto because I just don't get it. It's a secure form of money sure but whenever I hear of it being used as money that's where it makes no sense. You can't base trade off something so volatile IMO. Whenever you see dollars fluctuate like that the country using that currency is pretty much in a failed state.

Tons of millionaires and even billionaires have been made with it. But I don't get why?

Crypto was never meant for anything but a scam. The entire concept being sold to people was an investment that goes up wildly for reasons no one understands but you can be sure are sound. It was not an investment into a business that would produce a product. It was just magically appearing value. But people somehow were stupid enough to think that this wasn't literally just money in = money out and as soon as anyone actually takes their money the whole thing collapses.

Being a "billionaire" because a number on a computer screen says you are while your wealth is tied up in a currency virtually no one accepts just means that you have the opportunity to cash out and be a winner in the scheme while everyone else loses a billion dollars from the net pool, or you can sit on it until someone else takes it.

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Lebronwon
06/18/22 10:17:34 AM
#114:


the_rowan posted...
Crypto was never meant for anything but a scam. The entire concept being sold to people was an investment that goes up wildly for reasons no one understands but you can be sure are sound. It was not an investment into a business that would produce a product. It was just magically appearing value. But people somehow were stupid enough to think that this wasn't literally just money in = money out and as soon as anyone actually takes their money the whole thing collapses.

I first thought about getting into crypto around December 2017-Jan 2018. Turned out it was a top and people dont mention some of the stuff that happened in those days anymore. Anyone remember this

https://www.youtube.com/watch?v=lCcwn6bGUtU

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DarkRoast
06/18/22 10:18:21 AM
#115:


hortanz posted...
this story loops every 2-3 or so years
buy the dip

When's the last time it became more expensive to mine a Bitcoin than a Bitcoin is worth?

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dummy420
06/18/22 10:32:44 AM
#116:


the_rowan posted...
Crypto was never meant for anything but a scam. The entire concept being sold to people was an investment that goes up wildly for reasons no one understands but you can be sure are sound. It was not an investment into a business that would produce a product. It was just magically appearing value. But people somehow were stupid enough to think that this wasn't literally just money in = money out and as soon as anyone actually takes their money the whole thing collapses.

Being a "billionaire" because a number on a computer screen says you are while your wealth is tied up in a currency virtually no one accepts just means that you have the opportunity to cash out and be a winner in the scheme while everyone else loses a billion dollars from the net pool, or you can sit on it until someone else takes it.
I thought it was initially a kind of dark web thing then somehow people got into investing in it when it kept going up in price because it's actually limited. It may go crazy high again but I still can't see myself owning any.

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EndOfDiscOne
06/18/22 10:49:06 AM
#117:


DarkRoast posted...
When's the last time it became more expensive to mine a Bitcoin than a Bitcoin is worth?
Its been happening throughout Bitcoins history. Not every miner is losing money right now. People used to mine from their laptops before it became unprofitable. When miners drop out, the difficulty lowers, making mining more profitable. Then more people start mining again.

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AceMos
06/18/22 10:51:42 AM
#118:


dummy420 posted...
It's a secure form of money sure but whenever
its NOT secure its rather easy to steal ppls crypto which is why it happens so often

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SHRlKE
06/18/22 10:57:50 AM
#119:


AceMos posted...
its NOT secure its rather easy to steal ppls crypto which is why it happens so often

Why do you feel its easy?
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dummy420
06/18/22 10:59:02 AM
#120:


AceMos posted...
its NOT secure its rather easy to steal ppls crypto which is why it happens so often
Like I have said I have little knowledge on crypto. I thought it was secure in the way of being less traceable which is why it had a hand in the dark web. People will always get their stuff taken because they underestimate the ingenuity of crooks.

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hortanz
06/18/22 11:04:21 AM
#121:


DarkRoast posted...
When's the last time it became more expensive to mine a Bitcoin than a Bitcoin is worth?
dont know dont care I just bought 1.5 btc and 4 eth
the bag is waiting for someone to take it but have fun missing out again

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EndOfDiscOne
06/18/22 11:17:43 AM
#122:


dummy420 posted...
Like I have said I have little knowledge on crypto. I thought it was secure in the way of being less traceable which is why it had a hand in the dark web. People will always get their stuff taken because they underestimate the ingenuity of crooks.
FYI AceMos doesnt know anything about crypto either. This is his gimmick.

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DarkProto05
06/18/22 12:27:11 PM
#123:


The stock market isnt what it used to be, no real value anymore. Just billionaires controlling the price and take from retail investors. Its just like crypto, dont act like its better than crypto.

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DarkRoast
06/18/22 12:40:27 PM
#124:


DarkProto05 posted...
The stock market isnt what it used to be, no real value anymore. Just billionaires controlling the price and take from retail investors. Its just like crypto, dont act like its better than crypto.

Yeah that explains why the Stock indexes are down 70% since November.

Oh wait.

https://gamefaqs.gamespot.com/a/user_image/5/5/3/AAeEwGAADWvB.jpg

In any case, BTC is $6 away from MicroStrategy getting hit with a margin call and likely going bankrupt.

And speaking of differences between the stock market and Crypto

When Crypto exchange networks go belly up or decide you're no longer allowed to sell the coins you have... you're screwed.


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Joshua_Graham
06/18/22 12:44:41 PM
#125:


AceMos posted...
its NOT secure its rather easy to steal ppls crypto which is why it happens so often

People stealing your bank information happens often too.

DarkRoast posted...
Yeah that explains why the Stock indexes are down 70% since November.

Oh wait.

Anyone investing in crypto is well aware that it is far more volatile and risky than the stock market.

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Tyranthraxus
06/18/22 12:45:41 PM
#126:


Joshua_Graham posted...
People stealing your bank information happens often too.
Bank fraud can be reversed. Getting your crypto wallet emptied can't.

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AceMos
06/18/22 12:46:34 PM
#127:


Joshua_Graham posted...
People stealing your bank information happens often too.
yes and that can be fought against you have protection against it as well

crypto has zero protection as it has no regulations

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Cleo_II
06/18/22 12:50:00 PM
#128:


Figured it was due to crash with the uptick in advertisements to buy it a few months back. It just felt like every where you looked there was an ad to buy crypto and carrots being dangled like it was a get rich quick scheme.
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b_nolan
06/18/22 12:53:04 PM
#129:


hortanz posted...
dont know dont care I just bought 1.5 btc and 4 eth
the bag is waiting for someone to take it but have fun missing out again
You're not making any money

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dummy420
06/18/22 12:56:49 PM
#130:


EndOfDiscOne posted...
FYI AceMos doesnt know anything about crypto either. This is his gimmick.
Gotchya. Wasn't aware. Thanks

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AceMos
06/18/22 12:57:34 PM
#131:


dummy420 posted...
Gotchya. Wasn't aware. Thanks
you should try not listening to trolls i know alot about crypto ive actually researched it

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aurlen
06/18/22 12:59:54 PM
#132:


Joshua_Graham posted...
Anyone investing in crypto is well aware that it is far more volatile and risky than the stock market.
Sadly, no
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Joshua_Graham
06/18/22 1:00:14 PM
#133:


AceMos posted...
you should try not listening to trolls i know alot about crypto ive actually researched it

I disagree

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bigblu89
06/18/22 1:04:50 PM
#134:


AceMos posted...
ppl buy crypto with the belief they can sell it for more later
People buy stocks with the belief they can sell it for more later.

People buy baseball cards with the belief they can sell it for more later.

People buy paintings with the belief they can sell it for more later.

Are these all scams as well?

Sincerely, someone you hasnt invested a cent into Crypto.

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Tyranthraxus
06/18/22 1:06:11 PM
#135:


bigblu89 posted...
People buy stocks with the belief they can sell it for more later.

People buy baseball cards with the belief they can sell it for more later.

People buy paintings with the belief they can sell it for more later.

Are these all scams as well?

Sincerely, someone you hasnt invested a cent into Crypto.

https://gamefaqs.gamespot.com/a/user_image/5/6/3/AARLwzAADWvL.jpg

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AceMos
06/18/22 1:06:17 PM
#136:




bigblu89 posted...
People buy paintings with the belief they can sell it for more later.
actually this is a known money laundering scheme


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AP3Brain
06/18/22 1:10:55 PM
#137:


I'll only start seeing crypto as an actual currency when I see it regularly used as one. Right now it's mostly as a pump and dump scheme.
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hortanz
06/18/22 2:45:39 PM
#138:


b_nolan posted...
You're not making any money
Lets have an account bet re: who has made more tangible profits off markets in 2024

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Lebronwon
06/18/22 3:48:03 PM
#139:


https://twitter.com/WatcherGuru/status/1537739249667084292

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EyeWontBeFooled
06/18/22 3:49:30 PM
#140:


Lebronwon posted...
https://twitter.com/WatcherGuru/status/1537739249667084292
Jesus

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Mearcstapa
06/18/22 4:03:39 PM
#141:


Why should there even be a "Top 100" lol.

Like, what supposed legitimate use-case even is there for all these different coins?


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Slayer_22
06/18/22 4:47:38 PM
#142:


AceMos posted...
its NOT secure its rather easy to steal ppls crypto which is why it happens so often
Alright, I'll bite. How do you steal people's crypto.

In fact, steal mine right now. It's very easy, after all.

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AceMos
06/18/22 4:49:57 PM
#143:


Slayer_22 posted...
Alright, I'll bite. How do you steal people's crypto.

In fact, steal mine right now. It's very easy, after all.
i do not have a crypto wallet i cant do it

but i do know it happens all the fucking time because their is no protection from theft


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SHRlKE
06/18/22 4:58:20 PM
#144:


AceMos posted...
i do not have a crypto wallet i cant do it

but i do know it happens all the fucking time because their is no protection from theft

You cant say its really easy, not back it up and expect people to take you seriously. Sorry bro.
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AceMos
06/18/22 4:59:45 PM
#145:


SHRlKE posted...
You cant say its really easy, not back it up and expect people to take you seriously. Sorry bro.
maybe do some basic research into all the times ppl have had their crypto wallet hacked and had thier NFT stolen (same technology)

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#146
Post #146 was unavailable or deleted.
MarthGoomba
06/18/22 5:17:55 PM
#147:


AceMos posted...
maybe do some basic research into all the times ppl have had their crypto wallet hacked and had thier NFT stolen (same technology)
The people that get their wallets "hacked" are just giving their seed phrases away

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SHRlKE
06/18/22 5:21:01 PM
#148:


AceMos posted...
maybe do some basic research into all the times ppl have had their crypto wallet hacked and had thier NFT stolen (same technology)

Not going to happen friend and I notice you are already moving goalposts.

You made the claim so you back it up. No one here is doing your work for you.
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SHRlKE
06/18/22 5:22:11 PM
#149:


MarthGoomba posted...
The people that get their wallets "hacked" are just giving their seed phrases away

Dude is a known troll best to not engage.
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AceMos
06/18/22 5:23:11 PM
#150:


SHRlKE posted...
Dude is a known troll best to not engage.
says the alt account

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