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Crypto is a scam

I agree with everything you said below.

It is still a scam just as you compared it to Ponzi.

Now my question is why is the thread silent? Did it go back up to 60k?


RoadRage said:
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.
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Darrkman said:
Crypto is a scam


Click to expand...


Scams exist in financial markets period. In your example, the bridge was hacked due to people finding a vulnerability in the protocol.people lost money due to the exploit .That is different than something being designed to defraud users or a person defrauding users. In this instance people stole funds. there are examples of outright frauds/scams in crypto and this is not an example.

Based on what you posted, you would believe banks or other traditional markets are scams. Before anyone says it, being returned your stolen or scammed funds doesn't negate the fact it exists.

Even if you real point is people can't get their funds back, it's no different than having 5000 on you and being robbed.you aren't likely to see that 5000 again and no one is going to do anything for you financially.there have been stories of people being scammed using their bank accounts and banks declined to refund the person the money.

In crypto, the core concept is self custody. It carries a higher risk for controlling movement of your funds.like any technology there will be improvements and hopefully more regulations will be put in place just like traditional markets.

www.pymnts.com

What Banks Are Doing to Protect Consumers From Financial Scams | PYMNTS.com

Social engineering scams occur when fraudsters trick their victims into trusting them enough to send either money or personal information. When the victim
www.pymnts.com www.pymnts.com
 
Varis said:
I saw a Bitcoin ATM machine in royal farms and something on PayPal. I'm going to by $20 worth of bit coin and if I'm not a millionaire by Wednesday it's fake
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LOL, Royal Farms? That is upscale compared to where most Bitcoin ATMs are located. Some of them shits are located in gloryholeish type of check cashing joints. That is one of the things that is scuzzy about Bitcoin. The other is the type of people who's mind it has captivated and none of them niggas would I ever do any business with, ever. Pre or post Bitcoin.
 
Da Backshot Champ said:
LOL, Royal Farms? That is upscale compared to where most Bitcoin ATMs are located. Some of them shits are located in gloryholeish type of check cashing joints. That is one of the things that is scuzzy about Bitcoin. The other is the type of people who's mind it has captivated and none of them niggas would I ever do any business with, ever. Pre or post Bitcoin.
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Gloryholeish

:lol: :lol:
 
TENT said:
I agree with everything you said below.

It is still a scam just as you compared it to Ponzi.

Now my question is why is the thread silent? Did it go back up to 60k?
Click to expand...
If you say, don't have a horse in that race, never said it would or wouldn't go up to 60k. Remember I was the one who posted the commercial about how Krypto is funny you can be a millionaire one day and not the next, so this should have told you that I was fully aware about how Krypto tends to fluctuate up and down.
 
TENT said:
It is saying people are in on the manipulation?

Lose your password lose your money.
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Well its protection, your Keys(password) are like

the keys to your private vault..and in the world

of cyberspace and phishing..

you want to keep your keys as exclusive to your

use as possible.

Anywhere there is big money moving around, there will be somebody,

trying to manipulate it, into their coffers.

you think banks and credit card companies aint MANIPULATING

their customers.. dont listen to those hypocrites,

they just mad muthafuckas are gonna have more control over their funds

and they are doing everything in their power to try and discourage it...
 
RoadRage said:
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.
Click to expand...

Crux...Jus sayin...
 
samh32 said:
Crux...Jus sayin...
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Funny, I asked myself did I type crutch or crux that night when is went to bed that night but forgot about the whole thing the next day. But I really am thankful you pointed out to me just now because I'm really trying to elevate both my vocabulary and my typing skills. Good seeing smart people here with a sharp eye. :cool:
 
samh32 said:


This is a great interview, which should be put an end to the question if crypto is a scam.:rolleyes:
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Great interview. But the crypto fans in here will fight it cause if they believe it then they have to accept that they got scammed by a bunch of white people that played on their desire to get rich quick AND believe something that white people told them was the next big thing and they didn't really do their research. Basically....they were marks and no one wants to admit they were a mark.
 
Darrkman said:
Great interview. But the crypto fans in here will fight it cause if they believe it then they have to accept that they got scammed by a bunch of white people that played on their desire to get rich quick AND believe something that white people told them was the next big thing and they didn't really do their research. Basically....they were marks and no one wants to admit they were a mark.
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It's interesting that your reasoning is that people were tricked by white men and yet you use a white actor with a white interviewer to support your belief that crypto is a scam. With that logic his opinion shouldn't be trusted anymore than the whites who sold people on crypto.He was not talking to someone with a counterpoint and worse the person was clueless or shared his opinion so they didn't challenge anything he said. In what why is that a great interview?

He didn't provide any detailed evidence to support his claims. He gave his opinion and claimed that part of his ability to see a lie/scam is partially based on his acting career/liar all while promoting his book for people to buy. He didn't use his economics degree to give a detailed reason as to his belief as much as a sales pitch to buy his book. He also mentioned a lack of regulation in the space. Ironically, during the committee hearing that he was a part of it was hinted that part of the reason for poor regulation was to not legitimize the sector. While they are playing games, retirement funds were lost by people who likely unaware of their savings were tied to FTX. If cryptos are all securities as he said, that means FTX should not have been allowed to operate to begin with and is more of a failure by the government. If the rules are in place, enforce the rules.

One of his points was blockchain technology wasn't new and it was developed in the early 90s. Cell phones are also not new items and existed in the 80s/90s, yet they are completely different today. You literally have a mini computer that fits in your pocket and is used for more than just verbal communication. Tesla was not the first time EV cars were made. However, it's the first time it's gotten to this level of production and usage. Earlier EVs failed like his example of private money. Uber is nothing more than a new method of a taxi. The internet is not new either and was said that it would go away. The internet literally changed the way we live today and again it was initially looked at as a toy for computer nerds and would not be used in mass. Like his claims of crypto, the average person didn't understand the potential usage of the internet. Technology doesn't normally stay stagnant. It keeps evolving to a point where hopefully its useful or makes our life easier.succees is built from early failure. According to him blockchains serve no purpose yet stable coins (cbdc) are being developed and explored by various nations.

I'm not saying there are no scams in crypto and im not a hardcore crypto person either. It's on each person to manage their risk and understand investing is not likely to make you a millionaire. The same applies to the stock market or anything else you invest your money in.To the best of your ability, its your responsibility to educate yourself or find a trusted source to manage your investments for you. Scams also exist in the stock market and some of them are co-signed by people who are trusted just like with FTX. Wework (didn't complete IPO but still had investors), Theranos, Nikola Motor and Wirecard are examples of large scams in the traditional market that people trusted just because they were discussed on channels like MSNBC and had accredited investors. Assuming you actually invest, are those scams going to stop you from investing in the stock market? Would you recommend others don't invest in the stock market due to bad actors?
 
if you think crypto is a scam,

then what the fuck is the federal reserve A PRIVATE BANK

IN CHARGE OF PRINTING OUR MONEY WITH NO OVERSIGHT..

if muthafuckas werent so sleepy

they would realize crypto is a big fuck you to banksters

the banksters realize it and went to war..

but yall getting your cues from the sources THEY CONTROL..

theres a war going on outside..

www.newsweek.com

Crypto CEOs' and founders' 'sudden deaths'—what we do know, what we don't

The recent series of deaths of a crypto billionaires and entrepreneur have caught the attention of social media. Newsweek Fact Check investigated.
www.newsweek.com www.newsweek.com

Who gave the orders to have SBF arrested before he was due to talk to congress..

that proves politicians are just figure heads there truly is A SHADOW GOVT

that needs to be shut down..

fortune.com

SBF was arrested before a pivotal congressional hearing on FTX’s monumental collapse. Here’s how to watch and what to expect

What questions will lawmakers ask with SBF in custody?
fortune.com fortune.com

I thought congress RAN shit had the real power... apparently

NOT!!

crypto is the future... bitcoin aint going nowhere unless they shut

the WHOLE INTERNET down and good luck with that shit...!!
 
J.A. said:
I made over 100k off it in a year. They scammed the f out of me :lol:
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In the words of Whitney...


receipts-whitney.gif
 
moblack said:
I laugh when folks be like "I invest due to the technology of the blockchain". Then when you ask them about it they can't explain it.
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I laugh when folks shit on crypto when its down, then when it starts pumpin crazy,

they silent as fuck,

and lowkey feeling that fomo build up!!
 
moblack said:
Only thing I'm FOMO about is not buying another piece of property 2 years ago. Instead I put that money into the stock market.
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Oh damn,

bruh if you ever have to choose between a hard asset and

gambling... ALWAYS go with the hard asset bruh..

Its all good, lessons learned is a valuable commodity..

where were you going to invest in this property?

Texas? Multifamily??
 
Mrfreddygoodbud said:
Oh damn,

bruh if you ever have to choose between a hard asset and

gambling... ALWAYS go with the hard asset bruh..

Its all good, lessons learned is a valuable commodity..

where were you going to invest in this property?

Texas? Multifamily??
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Yes a single family home in Texas. The few I looked at all sold within the next week. Had planned on renting out. My buddy who is a realtor has been sharing realtor tips and all have come true. Awhile back he tried to get me to buy a house on the inside of the 610 loop in Houston. Told me how the gentrification was gone come to that area soon. I think subconsciously I didn't wanna purchase a property that I wouldn't live in. I rather spend more in my area so I could be near it, monitor it better, and get a better return long term. Now I'm on the sideline waiting for another opportunity.
 
moblack said:
Yes a single family home in Texas. The few I looked at all sold within the next week. Had planned on renting out. My buddy who is a realtor has been sharing realtor tips and all have come true. Awhile back he tried to get me to buy a house on the inside of the 610 loop in Houston. Told me how the gentrification was gone come to that area soon. I think subconsciously I didn't wanna purchase a property that I wouldn't live in. I rather spend more in my area so I could be near it, monitor it better, and get a better return long term. Now I'm on the sideline waiting for another opportunity.
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hey things happen for a reason.... especially if you were going

to get a mortgage, feds bullshitting like they want to lower the interest rate..

they could lower that shit to 1 percent tomorrow..

talkin about raising the interest rates stop inflation

they say ANY stupid shit...!!

trust me in a little less that six months.. if you got

diamond hands.. its gonna pay off...

I know a few people making a killing investing in real estate properties

in Texas..

Mostly in Dallas and Austin tho....

keep yo head up...

everybody took major hits this year,

unless you shorted shit...
 
moblack said:
Yes a single family home in Texas. The few I looked at all sold within the next week. Had planned on renting out. My buddy who is a realtor has been sharing realtor tips and all have come true. Awhile back he tried to get me to buy a house on the inside of the 610 loop in Houston. Told me how the gentrification was gone come to that area soon. I think subconsciously I didn't wanna purchase a property that I wouldn't live in. I rather spend more in my area so I could be near it, monitor it better, and get a better return long term. Now I'm on the sideline waiting for another opportunity.
Click to expand...

I moved to El Paso from Arizona in February, and I must say my timing was perfect. I sold my home which was on the 9th hole of a golfing community, but outside of the HOA. I put a lot of sweat equity into the house and did 90% of the work myself. I benefited from the location of the property, without paying member fees. Sold the house in less than 24 hours with a cash offer 40 grand over asking price. Nosey ass white neighbors who rarely talked to me knew my name and everything. El Paso is different from the rest of Texas where their income mainly come from Government entities like border patrol, military, Corp of Engineers, homeland security, DEA. and FBI. My neighbor works in the oilfields near Midland and got me hooked on that Don Ramon Tequilla LOL. As 100% disabled, retired military vet I pay zero property taxes, no state tax. and paid cash for the current home I'm living in. :)
 

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