Crypto is a scam

[An RnB Thug]

That's trade price. No matter what coinbase uses 1:1 equivalency. I use them regularly each month.

I dont think USDC has ever been more than maybe 1.02

Edit... ath is 1.04

That shit never lasts more than a short period. Arbitrage self corrects

Correct BUT $USDC all time high is $2.35 on November 16, 2021

USD Coin price today, USDC to USD live, marketcap and chart | CoinMarketCap

Get the latest USD Coin price, USDC market cap, trading pairs, charts and data today from the world’s number one cryptocurrency price-tracking website

coinmarketcap.com

 

[Dr. Truth]

Why would the IRS be sending massive tax bills to people who haven't made any money?

Capital Gains on investments held for a year or more is counted towards income so that shit can push you into another tax bracket

 

[guyver]

promissory notes?? fiat currency not backed by anyfuckin thing

but the will of the people..

all it will take is a collective will from the people,

and you got your lambo with that monopoly money bruh..

well thats if you understood that the whole fuckin system

is a scam.. but you probably dont..

so there's that...

You remind me of my boy who tries to put everyone on to crypto. I get you and a few others trying to defend crypto, but usually the same people come into the negative crypto threads and make the same statements. The main one being a question around who actually cashed out or a statement about most being in the red. Even if someone were willing to show exchange and bank statements, these same people would still ask for more proof or at best say that person was the exception to the rule.

For those people who are genuinely interested in learning, have disposable income and aren't afraid of high risk investments/assets, there is an entire thread going back to 2016 that they can learn from and ask questions. I clearly can't tell you or anyone else what to do but stop wasting your time with people who have clearly made their minds up or worse are just trying to agitate crypto investors. I get trying to educate those who may be on the fence or dispelling inaccurate statements, but if they allow strangers to discourage them from at least gaining their own experience that's on them. As for the doubters, whether it was investing in stocks or crypto most people I know didn't think I was making real money or care in general until they saw or heard about certain tangible items. Unfortunately, people need to see in order to believe before they attempt something for themselves.

Is the crypto market high risk? Yes, but being high risk is not the same as a scam. You have governments buying it, governments trying to or are regulating it, politicians supporting it, large businesses buying it and the market has been growing for over ten years. I would like to believe a scam (BTC for example) would not be allowed to go on in the open in multiple countries and discussed on major news networks regularly for over ten years especially a scam with magic money.that being said there are scams in crypto like any other market.

I've cashed out enough to get a house for over 600s and bought a MS100 Tesla. Ive never run into any issue cashing out large sums. I'm personally still in the green even with the recent market downturn which by the way is not the only market currently treading downward due to global issues. Two people I know should have had assets worth between 300 to over 1 million. I have no clue if they cashed out or not at any point but I'd hope they would have. The only information not somewhere in the 2016 crypto thread is directly or indirectly are the two people I personally know. My point in sharing this here is that anything here someone wants to know ( except personal Institutional statements) has probably been disclosed there by myself or others who have been successful including bad trades.

 

[xfactor]

That bullshit mindfuckery leaves out the most important fact of all..

YOU CONTROL YOUR MONEY WITH CRYPTO..

YOU CAN MOVE MILLIONS EASILY OVERSEAS...

THATS WHY THEY WANT STUPID FUCKS LIKE THE OP

TO SPREAD MISINFORMATION like this...

No 3-4 day “clearing house” hold period, no wire fees for same day transfers (but only during banking hours. of which all high dollar transfers are reported to the IRS), ability to send money 24/7.

@Darrkman / @wightman is a pro-white shill so I would expect him to post something like this but I hope people aren’t gullible enough to believe it.

 

[Mrfreddygoodbud]

You remind me of my boy who tries to put everyone on to crypto. I get you and a few others trying to defend crypto, but usually the same people come into the negative crypto threads and make the same statements. The main one being a question around who actually cashed out or a statement about most being in the red. Even if someone were willing to show exchange and bank statements, these same people would still ask for more proof or at best say that person was the exception to the rule.

For those people who are genuinely interested in learning, have disposable income and aren't afraid of high risk investments/assets, there is an entire thread going back to 2016 that they can learn from and ask questions. I clearly can't tell you or anyone else what to do but stop wasting your time with people who have clearly made their minds up or worse are just trying to agitate crypto investors. I get trying to educate those who may be on the fence or dispelling inaccurate statements, but if they allow strangers to discourage them from at least gaining their own experience that's on them. As for the doubters, whether it was investing in stocks or crypto most people I know didn't think I was making real money or care in general until they saw or heard about certain tangible items. Unfortunately, people need to see in order to believe before they attempt something for themselves.

Is the crypto market high risk? Yes, but being high risk is not the same as a scam. You have governments buying it, governments trying to or are regulating it, politicians supporting it, large businesses buying it and the market has been growing for over ten years. I would like to believe a scam (BTC for example) would not be allowed to go on in the open in multiple countries and discussed on major news networks regularly for over ten years especially a scam with magic money.that being said there are scams in crypto like any other market.

I've cashed out enough to get a house for over 600s and bought a MS100 Tesla. Ive never run into any issue cashing out large sums. I'm personally still in the green even with the recent market downturn which by the way is not the only market currently treading downward due to global issues. Two people I know should have had assets worth between 300 to over 1 million. I have no clue if they cashed out or not at any point but I'd hope they would have. The only information not somewhere in the 2016 crypto thread is directly or indirectly are the two people I personally know. My point in sharing this here is that anything here someone wants to know ( except personal Institutional statements) has probably been disclosed there by myself or others who have been successful including bad trades.

great points,

but its not even about replying to them, its mostly to fight fud, and like you stated,

its about those with extra income thats not afraid of a little risk...

Im not always right... but some of the shit folks say, is just fuckin stupid...

like they think because the govt can trace bitcoin, that means,

they can trace all privacy coins.. and they stand on their little fuckin

paper mache soap box, screaming shit they know nothing about..

Im no crypto wizard, but Im a visionary... and folks with children,

if they want them to be in the game, they better put them up on coding

and blockchain technology I cant stress this enough...

But I dont really care about persuading naysayers,

as much as I do, about exposing stupid fuckin fud

and reminding folks who are not agents, Im sure a lot of

tradional banksters and warren buffet fanboys... up in here

hatin just to hate.. and they have a right to..

but spewing fud with lies, needs to be checked..

But I feel what you sayin..

hey notice I write fuckin books, but nobody debunks what I say,

they worred about what I have in my dusty bank account...

as if I use a bank account for anything but paying bills..

muthafuckas really have their money in traditional savings

accounts bruh...

banks pimping the living fuck out their money bruh!!!

and they AINT gettin a cut bruh!!

 

[moblack]

What kind of simp shit is this... anyway scroll these cam sites plastered all over BGOL and you'll seebitches take crypto, but why would you want to give it to them?

You underestimate the power of pussy

 

[jack walsh13]

Nah all these dummies on here think they're some super criminal from a James Bond movie. And that they're moving in silence and no one knows what they're doing. It's painful how stupid some of these people on here really are.

 

[moblack]

There’s actually hoes that will accept payment via Bitcoin or Ether

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Notice she doesn't have the amount listed either. Meanwhile she has USD listed on there.

 

[Mrfreddygoodbud]

Notice she doesn't have the amount listed either. Meanwhile she has USD listed on there.

UHHHH

why would she need a bitcoin price if its in US dollars?

You just convert the bitcoin to the dollar amount...!

 

[lightbright]

Not gonna shit on Fuck You like that, because that's an old-ass picture, and he's always been a hustler. But I'd rather have a million Fuck You Vets than some of these new breed emotional kats on bgol.

Old pic yes.... but proof of his endless lies.... you can believe that proven liar if you want Rage


.

 

[Dr. Truth]

Notice she doesn't have the amount listed either. Meanwhile she has USD listed on there.

Doesn’t need to, you convert the cash to the Bitcoin amount

 

[roblo]

Capital Gains on investments held for a year or more is counted towards income so that shit can push you into another tax bracket

False. A capital gain occurs when you sell the asset for a higher price. The "year" determines whether you pay short term or long term capital gains tax. Less than a year, it's taxed at ordinary income. Over a year you pay a lower tax rate. The tax occurs on the sale. Stick to your lane dummy, Chinese porn. Money definitely ain't it.

 

[RoadRage]

UHHHH

why would she need a bitcoin price if its in US dollars?

You just convert the bitcoin to the dollar amount...!

So if the dollar collapses what will the bitcoins be worth?

 

[RoadRage]

So if the dollar collapses what will the bitcoins be worth?

If this question cannot be answered, then basically the only value Krypto currency has is based on how much you can sell it for, just like a typical share in a Ponzi scheme.

 

[RoadRage]

Wow, this thread suddenly became a ghost town.

 

[Mrfreddygoodbud]

So if the dollar collapses what will the bitcoins be worth?

Thats what wallstreet is trying to prevent now, they Thought bitcoin was their problem

if the dollar collapse,

there problem is fuckin Russia and China whose money is backed by gold!!!

That is a great question if you asking me,

any crypto priced in USD could fuckin sky rocket!!

and they dont want kniggas with bitcoin, eth

etc.. when that happens.

Hence the fud now!

if only the masses understood how the wealthy wages war,

on us, by having their think tanks, conjure up ways to fuck us,

behind the scenes, while they play all innocent..

Crypto wouldve been taken off, and NOBODY would ever listen

to anything coming out of the mouths of the warren buffet super boomer

types..

when the youth realize they dont have to work or go to school to be rich,

but just be click gods, and could make nice money fuckin around

in the metaverse all day...

BRUH..... when that generaton gets settled in about six to seven years,

you are gonna want to have some crypto in that portfolio, or you will

be playing catch up ball kicking yourself.. even while the crypto market is down,

they spreading scam fud amongst the easily led masses.. they mindfuckin

everybody so they wont be in the came early..

But google what barclay bank.. well peep it...look what they doing

while they tryin to convince the newbies its a scam..

They sure aint treating it like one...

Banking Giant Barclays to Reportedly Invest in Crypto Firm Copper Amid Market Downturn

Multinational banking giant Barclays reportedly aims to invest in crypto custody firm Copper despite the declining global appetite for risk-on assets like cryptoassets.

cryptonews.com

 

[RoadRage]

Thats what wallstreet is trying to prevent now, they Thought bitcoin was their problem

if the dollar collapse,

there problem is fuckin Russia and China whose money is backed by gold!!!

That is a great question if you asking me,

any crypto priced in USD could fuckin sky rocket!!

and they dont want kniggas with bitcoin, eth

etc.. when that happens.

Hence the fud now!

if only the masses understood how the wealthy wages war,

on us, by having their think tanks, conjure up ways to fuck us,

behind the scenes, while they play all innocent..

Crypto wouldve been taken off, and NOBODY would ever listen

to anything coming out of the mouths of the warren buffet super boomer

types..

when the youth realize they dont have to work or go to school to be rich,

but just be click gods, and could make nice money fuckin around

in the metaverse all day...

BRUH..... when that generaton gets settled in about six to seven years,

you are gonna want to have some crypto in that portfolio, or you will

be playing catch up ball kicking yourself.. even while the crypto market is down,

they spreading scam fud amongst the easily led masses.. they mindfuckin

everybody so they wont be in the came early..

But google what barclay bank.. well peep it...look what they doing

while they tryin to convince the newbies its a scam..

They sure aint treating it like one...

Banking Giant Barclays to Reportedly Invest in Crypto Firm Copper Amid Market Downturn

Multinational banking giant Barclays reportedly aims to invest in crypto custody firm Copper despite the declining global appetite for risk-on assets like cryptoassets.

cryptonews.com

Nice word salad brah, but answer the question. What would the Krypto be worth if the dollar collapses?

 

[Madrox]

Nice word salad brah, but answer the question. What would the Krypto be worth if the dollar collapses?

I hear what you're saying... it's the old use case argument for some: do you see it as a medium of exchange or are you ultimately trying to trade it back to dollars? If the latter, the last thing that person should want is to fuck with the value of the dollar..

 

[RoadRage]

I hear what you're saying... it's the old use case argument for some: do you see it as a medium of exchange or are you ultimately trying to trade it back to dollars? If the latter, the last thing that person should want is to fuck with the value of the dollar..

This man gets it!
​

 

[Mrfreddygoodbud]

Nice word salad brah, but answer the question. What would the Krypto be worth if the dollar collapses?

Uh I answered the question,

ALL USD BASED CRYPTO WOULD SKYROCKET.... IIIIFFFF wallstreeet whales dont

hold the major share of bitcoin and eth to manipulate the market,

and that the fact that crypto would be a safe haven from the dollar scares the shit out of traditional banksters..



they working on it, but they started pretty fuckin late..

Bruh there is a war going on righ

 

[RoadRage]

Uh I answered the question,

ALL USD BASED CRYPTO WOULD SKYROCKET.... IIIIFFFF wallstreeet whales dont

hold the major share of bitcoin and eth to manipulate the market,

and that the fact that crypto would be a safe haven from the dollar scares the shit out of traditional banksters..



they working on it, but they started pretty fuckin late..

Bruh there is a war going on righ

It would skyrocket, but when you try to convert it back to the dollar, you know to pay your rent, food, and stuff like that, how much U.S. dollar would you get back? Keep in mind the dollar wouldn't be worth much at that point.

 

[Dr. Truth]

It would skyrocket, but when you try to convert it back to the dollar, you know to pay your rent, food, and stuff like that, how much U.S. dollar would you get back? Keep in mind the dollar wouldn't be worth much at that point.

That’s the funny thing, the first thing they all do is cash out to FIAT lmbaooo. Niggas loving crypto but not as much as that evil American dollar that they all end up converting back too.

 

[Madrox]

It would skyrocket, but when you try to convert it back to the dollar, you know to pay your rent, food, and stuff like that, how much U.S. dollar would you get back? Keep in mind the dollar wouldn't be worth much at that point.

That’s the funny thing, the first thing they all do is cash out to FIAT lmbaooo. Niggas loving crypto but not as much as that evil American dollar that they all end up converting back too.

Listen, I hold some crypto that I dollar cost average into because I believe in the current use case as a medium of exchange, can see future use cases possible, and obviously for the price appreciation (much like a share). But the parts about over turning the system and getting all lathered up over deregulation make no sense at a certain level..

Yes, I hope we get to a point where these tokens enable us to transact more seemlessly. But do you really want deregulation to the point where your shit still isn't properly insured, can get yoked or "lost" electrically in an instant, or worst of all the system goes full blown tits up to the point that there is no longer a system to spend "money" in?

Regulation is coming, so we're gonna have to take the good with the bad. With that said we're still in the early adoption stages so the runway for some of these coins/tokens is still long in my amateur opinion. Just try to be reasonable and keep your head on a swivel.

 

[RoadRage]

Let me help you out.
When you buy a Krypto currency, you pay it with your country's currency. Correct?
So there must be rate of what you pay for with your money and this number either increases or decreases with what other people is willing to buy it from you.
(Are you with me so far?)
Now if the dollar collapses, what currency are you going to sell your Krypto currency with? (More Krypto? doesn't make sense).
(Are the dots starting to connect?)
Here is where the Ponzi starts to show.
If you cannot sell your Fiat (oops I mean Krypto) for a higher rate in dollars than what you originally purchased it for, guess what happens next, it loses value.
Now can you see the correlation between the fiat dollar and the fiat Krypto?

In order for Krypto or any currency to have real power it has to operate independently from any other currency, usually, it's attached to the economy of the country, but being that Krypto has no economic ties, its literally worth what you can sell it for, just like a Ponzi!

In a floating exchange rate system, a currency's value goes up (or down) if the demand for it goes up more (or less) than the supply does. In the short run this can happen unpredictably for a variety of reasons, including the balance of trade, speculation, or other factors in the international capital market.

5 Factors That Influence Exchange Rates

The exchange rate of a nation's currency is one of the most important determinants of its state of economic health. Find out how and why rates fluctuate.

www.investopedia.com

 

[RoadRage]

Listen, I hold some crypto that I dollar cost average into because I believe in the current use case as a medium of exchange, can see future use cases possible, and obviously for the price appreciation (much like a share). But the parts about over turning the system and getting all lathered up over deregulation make no sense at a certain level..

Yes, I hope we get to a point where these tokens enable us to transact mire seemlessly. But do you really want deregulation to the point where your shit still isn't properly insured, can get yoked or "lost" electrically in an instant, or worst of all the system goes full blown tits up to the point that there is no longer a system to spend "money" in?

Regulation is coming, so we're gonna have to take the good with the bad. With that said we're still in the early adoption stages so the runway for some of these coins/tokens is still long imo amateur opinion. Just try to be reasonable and keep your head on a swivel.

Like every Ponzi you can make money at the beginning, so if you know when to get in and get out go for it.
My beef is that it's not a true currency or something that will replace the dollar as we know it as they tout it. If they really want to make a currency it has to be attached to something i.e. gold, or what has surpassed the gold system, the plutonium, and bullets system. Because if you cannot physically protect your currency, then your money can easily become worthless.
BTW no one bit on my quantum computer statement, because if these computers get perfected, everyone's Krypto coins could be wiped out at the press of a button.


I bet the bankers and the U.S. is investing billions on supercomputers, not Krypto.

 

[Madrox]

Like every Ponzi you can make money at the beginning, so if you know when to get in and get out go for it.
My beef is that it's not a true currency or something that will replace the dollar as we know it as they tout it. If they really want to make a currency it has to be attached to something i.e. gold, or what has surpassed the gold system, the plutonium, and bullets system. Because if you cannot physically protect your currency, then your money can easily become worthless.
BTW no one bit on my quantum computer statement, because if these computers get perfected, everyone's Krypto coins could be wiped out at the press of a button.


I bet the bankers and the U.S. is investing billions on supercomputers, not Krypto.

I hear you. I guess if/when they choose to properly regulate one of these, it can be backed by the military just like the dollar is at this point

Oh and I feel on the QC investments..

 

[Madrox]

It seems like most folks are just trading and riding the waves, rather than True Believers of a New World Order... I'm sure the crypto thread has more strategy talk that I might've missed.

 

[Mrfreddygoodbud]

It would skyrocket, but when you try to convert it back to the dollar, you know to pay your rent, food, and stuff like that, how much U.S. dollar would you get back? Keep in mind the dollar wouldn't be worth much at that point.

LOL,

I cant say too much right now, I can just say my good friend, you need to learn a

lot about crypto..

Its Global dude, understand that... its a Global thing,

not just a National thing..

Ya Hurr??

 

[Darrkman]

Crypto is a scam

 

[Dr. Truth]

Crypto is a scam

This will always happen with no oversight. Peoples money gets stolen and they can’t do shit about it lol. Zero insurance

 

[Mrfreddygoodbud]

Like every Ponzi you can make money at the beginning, so if you know when to get in and get out go for it.
My beef is that it's not a true currency or something that will replace the dollar as we know it as they tout it. If they really want to make a currency it has to be attached to something i.e. gold, or what has surpassed the gold system, the plutonium, and bullets system. Because if you cannot physically protect your currency, then your money can easily become worthless.
BTW no one bit on my quantum computer statement, because if these computers get perfected, everyone's Krypto coins could be wiped out at the press of a button.


I bet the bankers and the U.S. is investing billions on supercomputers, not Krypto.

https://www.crypto-news-flash.com/b...rm-as-traditional-banks-seek-crypto-exposure/

 

[tajshan]

Exactly what is crypto currencies backed up by?

 

[TENT]

Why is bitcoin back at 60k?

Wow, this thread suddenly became a ghost town.

 

[Dr. Truth]

Why is bitcoin back at 60k?

Huh?

 

[RoadRage]

Why is bitcoin back at 60k?

You are not comprehending the crutch of my argument, because I never said crypto won't fluctuate nor did I say that its demise was at hand, so stop strawmaning me. What I actually said was that without it being an actual independent currency or an actual tangible product the only value Krypto has is in its sales a.k.a. what the next man is willing to buy it for, making it more similar to a Ponzi scheme (which operates on the exact principles) than a real product or currency.
So the fact that its back to 60k has no relevance to my statement, as a matter of fact, I later clarified my original statement by mentioning you can make short-term money in Krypto (again similar to a Ponzi) just as long as you are not left standing at the end with all the coins and no buyers to take that shit off your hands, this is how all Ponzi/Pyramid schemes collapse and why they are illegal.