The high-risk world of cryptocurrency is recently showing little reward for investors after losing about $200 billion in value in just 24 hours. Manuel Bojorquez takes a look.
#cryptocurrency #bitcoin #news
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33 Comments
Crypto is literally fake 1 and zeros….a good enough hacker can make fake coin…its so flawed.
It's a pyramid scam.
Quick do more Crypto hit pieces to spread FUD and keep the plebs poor!!!!
Lol. She said “we’re not sure how it works but we believe” this isn’t religion
There's no telling how many people lost their life savings because of this.
Bitcoin and other crypto currencies are not currencies. They are highly volatile speculative liquid investments comprised of nothing more than an encrypted computer entry that is recorded and traded for money. True currency is a dynamic chose in action whose value is derived from transactions in the marketplace. A dollar is worth a dollar because someone is willing to pay you a dollar for a product or service or as a wage. The amount a crypto coin is worth is based on purchases of the crypto currency itself and bears no relationship to goods and services traded in the marketplace. Its value results from a purchaser paying the asking price for the coin. Holders of crypto coins are purchasers, not depositors, as they would be if they placed their money into a bank account. That a holder may spend all or part of it does not make it a currency because the merchant is actually taking the crypto currency in barter.
The nature of the technology by which crypto currency is produced enables it to evade the laws that govern financial instruments and investments. These devices have been described as tokens, which is somewhat fitting, albeit skirting the legal definition.
A currency must have a relatively stable value like the dollar in order to be useful in business. Whether money is represented by a metal coin, paper currency or digital currency (a computer entry) is irrelevant. The principle remains the same. Genuine money is created from activity in the marketplace. Its supply requires national central management in response to population level, foreign trade, etc. Decentralized crypto currencies employing block chain technology are de facto ponzi or pyramid schemes, as these bear no relationship whatsoever to value created as a result of someone buying and paying for a product or service. Their price is determined solely by the purchaser agreeing to pay the sum demanded by the seller.
New coins are continually being released at a controlled rate and given away free to the party that guesses their code. That is referred to as mining. This dilution of value is obscured by speculative purchases and by new entrants playing the game. In the final analysis, the true nature of crypto currency is that of an online game.
Much has been said about the security feature of block chain technology. That it is tamper proof is a vital ingredient of the sales pitch for this product. That a crypto currency employs block chain technology is not an indicator of the integrity of the product itself. A worthless coin enjoys a similar degree of protection from hacking and counterfeiting as one of high value.
A chain is only as strong as its weakest link. The founder of an exchange died suddenly. No one else had the keys to the cold wallet that was on his laptop computer that held $145,000,000 of client’s coins. These cannot be recovered.
The purchaser pays for what is nothing more than a computer entry having faith that at some future time he will be able to sell access to this particular entry to an online ledger to someone else for a sum equal to or higher than what it cost him. Exchanges earn a commission from the process. Miners are rewarded with newly minted coins for maintaining the ledger. Holders of coins are vulnerable to loss. Hard drives do crash.
maybe now is the time to buy some Bitcoin. 🤷
Crypto has always been a con game. The promoters look like a bunch of coked-up evangelicals.
That Miami mayor looks like the car salesman who worked at Malfunctioning Eddie's Rocket-Car Emporium in Futurama.
do do dupe do do, I'm lovin' it !
I'm hoping the Video card market will bottom out as well so I can afford to finally upgrade my computer
if you are not on the crypto space now you are making a huge mistake, i get it can be due to ignorance but if you want to make your money work for you, to prevent inflation from eroding your savings, to build generational wealth and to cultivate the good habit and financial knowledge.
Zephaniah 1:18
"Neither their silver nor their gold Will be able to deliver them on the day of the Lord’s wrath; The earth will be devoured in the fire of His rage, for He will make a complete end, indeed a terrifying one, of the inhabitants of the earth."
Ezekiel 7:19
"They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the Lord: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity."
Luke 21:11-12
“Nation shall rise against nation, and kingdom against kingdom, and great earthquakes shall be in divers places, and famines and pestilences. And fearful sights and great signs shall there be from heaven." ~Jesus
2 Esdras 9: 1-12
“Consider all these things very carefully. When you see that some of the signs I have told you about have appeared, you will know that the time has come when God Most High will bring judgment on the world he has created.
There will be earthquakes, national rebellions, international intrigues, unstable leaders, and confused rulers. When you see these things happening, you will know that they are what God Most High has spoken about since the beginning of creation.
The beginning and the end of everything that happens in this world are clear. The same is true in the world above: wonders and miracles show the beginning of events, and mighty signs show when they end.
“Some people will escape destruction and be saved by their good works and by their faith. All of them will survive the dangers I have described and will enjoy the salvation provided in the land that I have set apart from eternity as my own.
Then those who have ignored my ways and held them in contempt will be surprised when they find themselves in continual torment. This will include all those who ignored me while they were alive, even though they accepted the blessings I gave them. It will include all those who scorned my Law during the time they were free to do so and all those who refused to repent while they still had the chance.
The torment they will have to suffer after death will force them to recognize the truth."
In Puerto Rico, they have invaded and took advantage of gentrification opportunities after the Irma and Maria storms. When we profit from the loss of others, the profit is short lived. Crypto kids have created loss and pain to my people. May they reap what they sawed on our island!
At least your not El Salvador’s President who made Bitcoin a national currency and is losing millions.
The Synagogue of Satan aka the Rothschilds and the International Bankers have been planning for a way to control this currency. Crashing the Stock value 😴 👌 😪 is 💰 how they will make a attempt
Bruh, as soon as I had to wait a week for funds to transfer into Coinbase, then pay $3 to make a purchase, pay another $2 to make a sale, then pay another $1 to cash out including another few days for funds to be available, not to mention the “app problems” when you’re trying to sell at a profit. IM DONE FOR NOW until this is all fixed.
Don’t invest money you can’t afford to lose…. Or just go the the MGM casino and at least have a good time.
Sheeii
Money is imaginary. it is an agreed upon concept to facilitate the movement of goods and services. without money one must barter for goods and services with good or services one has at one's disposal or within one's own skill set. In the Digital World you can be set up with housing and food when you have a job or are given a job.
Crypto is just a giant Ponzi scheme. Maybe people are starting to figure it out.
As you can see we are already in may and I feel those who would allow the market dynamism to determine when to trade or not are either new in space in general or probably just naïve, the sphere have seen far worse times than this, enlightened traders continue to make good use of the dip and pump even acquiring more equities towards trading sessions, I'd say that more emphasis should be put into trading since it is way profitable than hodling. Tradlng went smooth for me as I was able to raise over 9.2 BTC when I started at 2 BTC in just few weeks implementing trades with signals and insights from Joe Schmitt would advise y'all to trade your asset rather than hodl for a future you aren't sure about..You can reach Joe Schmitt on ͲeIєɠɾαm👉Schmittsignal.
Hahaha that's what they get for gambling on a crypto scam!
Let's say the value of a crypto coin goes down from $99 to only 1 cents. If you have invested money you can afford to loose. Not taking risks with your life savings. Then you haven't lost your house, your life savings, etc. You've just lost the money you've invested. Right? And, you don't have an agent that you trusted taking actions that results for you loosing your life savings. I'm I wrong?
Look, at the end of the day if I have a Million Dollars in cash in the safe, the only way I will lose it is by spending it all, the US dollar plummets to zero or it is "Physically" stolen from me and destroyed!… Crypto Currency, is not only a volatile market, it is unreliable, vulnerable to Crypto Hackers who can drain your entire account and there is absolutely no way to recover it and like we are seeing here, its stocks rise & fall and then plummet!… No thank you, I will stick to the tangible, physical green paper, that is accepted everywhere, well established, regulated and FDIC insured!…. That's just me, so go do you and good luck with all that Crypto Drama!…..
We’ll look at that another IDOL to worship
Its not a technology. It's saying the rock you have is worth more than the rock on the road just cause you say it is.
crypto is the modern day bernie madoff
Crypto can go bust overnight… There's no inherent value in it like other investments
I undeniably treasure the update on crypto we are getting from you, <for me i think predicting a trend reversal is dangerous, and I feel there is more to this market than we now see. People do not strive to grow their average when they are losing, but this can change if you have a personal trade guide and signal source like Kerry Pickett, who has made me almost 9.5 on a 2 btc trade capital over the last 10 months. Make an informed decision. Markets go through cycles that can range from a few days to several years. It's difficult to establish a bullish case for B -TC merely by looking at the charts..
What a flex by Remi. I am such an iditot I lost $2M but it doesnt affect me.
EXTRM GOOD TIME FOR BUYING ETHEREUM AND BITCOIN!TEAM WORK!PEACE!!!!!
Sell the rally