Crypto is a scam

[Mr.Chuckles]

What hundreds of thousands? And do you mean crypto rich?

The answer to your question is easy, how many black people do you know in crypto, not many if any and this is the main reason why it's hard for you to fathom but just like bitcoin when people didn't know anything about it many people got filthy rich many working class people at that but i'm not here to sell you on crypto just sit on the sidelines and wait and see as they say and jump in when your ready!

 

[Mr.Chuckles]

I dont know one actual person who made serious crypto money. These are people In Silicon Valley too. They all skeptical and some have lost money trying to get it out the exchange. So why is everyone trying to make the so called dead fiat if yall love crypto so much? The people who made a lot already had fuck you money and did t care if they lost a few hundred thousand in play money. It’s a scam for the wealthy to manipulate poor people while they take all your invested money

I know people that have made hundreds of thousands and I've made a pretty penny in crypto as well but you have to understand that crypto isn't regulated yet so it's the wild wild west but those days are coming to a end and people are going to jail, hey look I'm only here to put you guys up on game it's cool if you want to wait and see but don't get left behind thinking that crypto isn't a real thing do a little research and hopefully it might change your mind.
The government won't waste their time trying to enforce and regulate something they don't intend to use and make money off of, also why would their be tax laws for crypto (fake money)? Chuckle

 

[mcguyver]

The answer to your question is easy, how many black people do you know in crypto, not many if any and this is the main reason why it's hard for you to fathom but just like bitcoin when people didn't know anything about it many people got filthy rich many working class people at that but i'm not here to sell you on crypto just sit on the sidelines and wait and see as they say and jump in when your ready!

The answer ain't easy cause you never answered it. Are those people you are referring to crypto rich or fiat currency rich?
Also if this was true, why are you celebrating hundreds of thousands of people getting rich when millions had invested in this ponzi scheme? Isn't that more proof it's a scam?

 

[jack walsh13]

Ponzi scheme that won't die.

Good way to put it

 

[RoomService]

The answer to your question is easy, how many black people do you know in crypto, not many if any and this is the main reason why it's hard for you to fathom but just like bitcoin when people didn't know anything about it many people got filthy rich many working class people at that but i'm not here to sell you on crypto just sit on the sidelines and wait and see as they say and jump in when your ready!

Let them eat cake...

Bitcoin vs Gold over 14.4 years ago $1 investment​

Bitcoin:$38,506,100 | Gold:$1.94​

Bitcoin vs Gold over 14.5 years : Woobull Charts

charts.woobull.com

Already Timestamped 16:58

 

[An RnB Thug]

I dont know one actual person who made serious crypto money. These are people In Silicon Valley too. They all skeptical and some have lost money trying to get it out the exchange. So why is everyone trying to make the so called dead fiat if yall love crypto so much? The people who made a lot already had fuck you money and did t care if they lost a few hundred thousand in play money. It’s a scam for the wealthy to manipulate poor people while they take all your invested money

Stop. You are way off base.
Actually wealthy people hate crypto. It gives poor people a very good chance to make generational changing money.
Everyone I know who came into this first week of 2017 is a millionaire.
They biggest problem is LISTENING TO THE WRONG PEOPLE in crypto space.
So when they lose money they label crypto a scam. Remember, for the most part this is still very much
an unregulated space. So it's paramount you move carefully and strategically.

Let me just say, it's sad that you and many I personally KNOW take that stance. When this bull run officially
takes off there will be of TRILLIONS to be made but since you have pessimistic attitude you won't benefit from it.

This year will see exponential growth with a perfect storm of events

BITCOIN ETF
ETH ETF
BITCOIN HALVING
FED RATE CUTS
ELECTION YEAR

The market cap is 1.93 Trillion right now, It will be close to TRIPLE by the end of the year
when I first read about crypto here it was 17 Billion.

Get your piece of the pie, I IMPLORE YOU

 

[Dr. Truth]

Let them eat cake...

Bitcoin vs Gold over 14.4 years ago $1 investment​

Bitcoin:$38,506,100 | Gold:$1.94​

Bitcoin vs Gold over 14.5 years : Woobull Charts

charts.woobull.com

Already Timestamped 16:58

Gold is an actual element you can hold Bitcoin is an imaginary coin that doesn’t exist or do anything . Most of it is “owned “ by the 1% the rest is fought over by people living check to check pretending they are day traders

 

[Dr. Truth]

Stop. You are way off base.
Actually wealthy people hate crypto. It gives poor people a very good chance to make generational changing money.
Everyone I know who came into this first week of 2017 is a millionaire.
They biggest problem is LISTENING TO THE WRONG PEOPLE in crypto space.
So when they lose money they label crypto a scam. Remember, for the most part this is still very much
an unregulated space. So it's paramount you move carefully and strategically.

Let me just say, it's sad that you and many I personally KNOW take that stance. When this bull run officially
takes off there will be of TRILLIONS to be made but since you have pessimistic attitude you won't benefit from it.

This year will see exponential growth with a perfect storm of events

BITCOIN ETF
ETH ETF
BITCOIN HALVING
FED RATE CUTS
ELECTION YEAR

The market cap is 1.93 Trillion right now, It will be close to TRIPLE by the end of the year
when I first read about crypto here it was 17 Billion.

Get your piece of the pie, I IMPLORE YOU

No they don’t most wealthy people own a lot of bitcoin manipulating its value to get more from people like you all. Even that scum bag Kevin O’Leary has millions worth of Bitcoin to keep the valuation high. All yall being manipulated. Only the government hates it because they want their share of the scam and can’t figure out how since it’s not even a real things or useful

 

[RoomService]

rest is fought over by people living check to check pretending they are day traders

Maybe they shouldn’t be day traders. Everybody wants to hit a home run at the end of the day instead of settling for singles.

Tens of thousands of ways exist for one to get wealthy. Choosing the path that best fits you is the only guidance I can offer.

 

[Mrfreddygoodbud]

Maybe they shouldn’t be day traders. Everybody wants to hit a home run at the end of the day instead of settling for singles.

Tens of thousands of ways exist for one to get wealthy. Choosing the path that best fits you is the only guidance I can offer.

especially nowadays, I remember growing up, hearing older folks say, youd never amount to anything playing video

games all day..

lets not talk about how many folks make a living playing video games.. I know of a cat that dont even play madden football,

he just hosts tourneys and stream it, he made a qtr milly last year... after taxes he took home a little over 150 stax..

and thats NOT even gaming... some young bruh Named Kai Cenat.. made over 11 million last year...

so chea... many roads to get there breh!!

 

[An RnB Thug]

No they don’t most wealthy people own a lot of bitcoin manipulating its value to get more from people like you all. Even that scum bag Kevin O’Leary has millions worth of Bitcoin to keep the valuation high. All yall being manipulated. Only the government hates it because they want their share of the scam and can’t figure out how since it’s not even a real things or useful

Banks NOW manipulate Bitcoin but as the market cap goes up it gets weaker and weaker.....
FYI - I was in this BEFORE Kevin O' Leary was.
Let me ask you a simple question, You think the wealthy don't manipulate stocks and hundreds of other money making assets? Bernie Madoff once said "the whole economy is a pyramid scheme"
Stop being naïve. Truth is they manipulate EVERYTHING in the world. But CRYPTO, they CAN'T control 100%
it's unregulated and people can hide it without a name being attached
The shit is out the horse. That's why an ETF was approved. Bitcoin went from .00001 to 68k from people like US, not them.

Listen, if you wanna work all your life for a cac and pay into a 401k that cacs charge a fee for that you MIGHT end up with 1 million at the end of a 40 year working career? Go right ahead. I learned a LOOOOONG time ago. You can't save everybody, me? I'm living my life

Like I said, it saddens me to read your thoughts on this but I understand. More for me....

 

[Walter Panov]

The answer to your question is easy, how many black people do you know in crypto, not many if any and this is the main reason why it's hard for you to fathom but just like bitcoin when people didn't know anything about it many people got filthy rich many working class people at that but i'm not here to sell you on crypto just sit on the sidelines and wait and see as they say and jump in when your ready!

Is that you Dr. Boyce Watkins?

 

[Dr. Truth]

FYI most Black folks I know are heavily into crypto and preaching about it. They always trying to convince me they making tons of money but nothing to show for it and can’t prove it.

It’s very ACN phone pyramid preachy. I’m not sure why yall think Black folks ain’t into this. Anything that has to do with the fantasy of getting rich quick and easy you will find niggas involved

 

[Dr. Truth]

I’ll stick to traditional stocks

 

[xxxbishopxxx]

Also if this was true, why are you celebrating hundreds of thousands of people getting rich when millions had invested in this ponzi scheme? Isn't that more proof it's a scam?

By that logic, people should never buy a house because of the millions of people that have went upside down over the decades.

People should never invest in the stock market because of the millions of people that have lost money investing since public trading became a thing.

Like any investment, crypto has projects that seem to have long term potential and some are just scams. The key is always research.

However, unlike most crypto heads, I do agree there needs to be some sort of regulation. I don't think regulation is necessarily a bad thing if it will help prevent some of the true crypto horror scams that have occurred over the years. I say this still even though regulations have burned me on a couple of investments.

 

[Dr. Truth]

By that logic, people should never buy a house because of the millions of people that have went upside down over the decades.

People should never invest in the stock market because of the millions of people that have lost money investing since public trading became a thing.

Like any investment, crypto has projects that seem to have long term potential and some are just scams. The key is always research.

However, unlike most crypto heads, I do agree there needs to be some sort of regulation. I don't think regulation is necessarily a bad thing if it will help prevent some of the true crypto horror scams that have occurred over the years. I say this still even though regulations have burned me on a couple of investments.

If everyone sells all their crypto it collapses. It’s worthless. People are not looking to hold long term just dump and tell everyone else to hold to have the value rise. It’s non sense. Crypto relies on new people in volume buying coins to Increase the value so the whales can dump when it gets to a certain point causing the coin to implode. It’s a total scam created to benefit the early adopters.

 

[xxxbishopxxx]

If everyone sells all their crypto it collapses. It’s worthless. People are not looking to hold long term just dump and tell everyone else to hold to have the value rise. It’s non sense. Crypto relies on new people in volume buying coins to Increase the value so the whales can dump when it gets to a certain point causing the coin to implode. It’s a total scam

name one investment that will survive if EVERYONE tried to dump it at once.

name one stock in which one share will make you rich if you sold it.

Warren Buffet is buying up thousands to millions of shares of certain stock and making money. How is that different than someone buying large chunks of a certain crypto?

 

[mcguyver]

By that logic, people should never buy a house because of the millions of people that have went upside down over the decades.

People should never invest in the stock market because of the millions of people that have lost money investing since public trading became a thing.

Like any investment, crypto has projects that seem to have long term potential and some are just scams. The key is always research.

However, unlike most crypto heads, I do agree there needs to be some sort of regulation. I don't think regulation is necessarily a bad thing if it will help prevent some of the true crypto horror scams that have occurred over the years. I say this still even though regulations have burned me on a couple of investments.

You wasted your time typing that nonsense.

 

[Dr. Truth]

name one investment that will survive if EVERYONE tried to dump it at once.

name one stock in which one share will make you rich if you sold it.

Warren Buffet is buying up thousands to millions of shares of certain stock and making money. How is that different than someone buying large chunks of a certain crypto?

Stocks are backed by an actual brick and mortar business. As long as that company is doing well the stock will be fine. If everyone sold their McDonalds stock McDonalds ain’t going belly up

 

[xxxbishopxxx]

Stocks are backed by an actual brick and mortar business. As long as that company is doing well the stock will be fine. If everyone sold their McDonalds stock McDonalds ain’t going belly up

So are banks a scam since they will definitely crash if everyone pulls their money out at the same time?

 

[xxxbishopxxx]

You wasted your time typing that nonsense.

the only nonsense is your lack of an intelligent response to my points

 

[mcguyver]

the only nonsense is your lack of an intelligent response to my points

Comparing Crypto to buying a house is intelligent to you?

 

[Dr. Truth]

So are banks a scam since they will definitely crash if everyone pulls their money out at the same time?

How is that remotely the same as a stock? A bank run is a whole different subject. It’s why people with money don’t keep all their money in the bank. They keep it in bonds and stocks.

 

[An RnB Thug]

To the people trying hard to convince doubters Stop it. They lost money.
They know someone who lost their money. They have no foresight at this point (if they ever did)
You're wasting your time. It's a lie, it's a scam yaddy yaddy yaddy....

To the people that DO wanna learn, DM me, my door is always open to people who wanna
learn and wanna make money NOT to people who just wanna be right. The space is 15 years old
and only will grow from this point. I give sound advice, good tips and lots of optimism

 

[Famous1]

I’ll stick to traditional stocks

So you're sticking to stocks because you can put actual shares of Tesla in your pocket..... you is so smart.

 

[Dr. Truth]

So you're sticking to stocks because you can put actual shares of Tesla in your pocket..... you is so smart.

Nice cheap shot but you’re a clown if you can’t see the difference. There is no physical backing of crypto. Tesla is an actual company that makes shit. You’re so smart.

 

[xxxbishopxxx]

How is that remotely the same as a stock? A bank run is a whole different subject. It’s why people with money don’t keep all their money in the bank. They keep it in bonds and stocks.

You know you can buy bank stock. You don't think people have BOA or other banking institution stocks in their portfolios?

 

[xxxbishopxxx]

Comparing Crypto to buying a house is intelligent to you?

Is the 2008 housing crash that literally fucked up the world's economy a foreign concept to you?

Also

https://www.axios.com/2023/11/27/home-sellers-losing-money-profit-loss

Larger share of U.S. homes sell at a loss

A growing proportion of homeowners are selling their houses for less than they paid for them, per data Redfin requested by Axios.

Why it matters: Some homeowners lost six-figure amounts on their sale.

Driving the news: More than 3% of U.S. homes sold at a loss August–October 2023 — up from 2.4% a year ago.

The median loss was around $40,000, per Redfin data.
Zoom in: The highest proportion and largest losses were in San Francisco. Roughly one in seven SF owners lost money on their home sale, with a median loss of $122,500.

Detroit, Chicago, Cleveland and New York were also among the top five cities with the highest proportion of losses — all north of 6%.
Losses were least common in Providence, Rhode Island; Anaheim, California; San Diego, Boston and Fort Lauderdale, Florida.

 

[Famous1]

The day this post started bitcoin was 22k...it's 51k today..

Nice cheap shot but you’re a clown if you can’t see the difference. There is no physical backing of crypto. Tesla is an actual company that makes shit. You’re so smart.

So each Tesla stock is backed by an actual Tesla that you can trade it for so you feel more comfortable buying it...Riiigggghhttt. listen my guy..Any stock is only worth what you can get some sucker to pay for it.. just like bitcoin.

 

[An RnB Thug]

The day this post started bitcoin was 22k...it's 51k today..

So each Tesla stock is backed by an actual Tesla that you can trade it for so you feel more comfortable buying it...Riiigggghhttt. listen my guy..Any stock is only worth what you can get some sucker to pay for it.. just like bitcoin.

Meanwhile their stock had been going up while they had 18 years of straight losses
Can't make this shit up

 

[dcman100]

these crypto arguments are like religious arguments at this point. lol

 

[fourthstbully]

i can only lead a mf to water.

 

[Kubrick]

I made money off Crypto but I still don't understand the use case and it is not FDIC backed.

I got in on Ethereum @ $300 and traded Crypto aligned stocks (MARA, ANY, RIOT) multiple times for gains. I still don't understand why they shoot up and what is it used for, but one thing I learned on BGOL, if enough (smart) brothers start consistently talking about it, get on board.

There were brothers on this board talking about crypto back in 2013. Also brothers were talking about Cloud computing back in 2017. If you got in on either early you would be in great shape now.

 

[xxxbishopxxx]

I made money off Crypto but I still don't understand the use case and it is not FDIC backed.

I got in on Ethereum @ $300 and traded Crypto aligned stocks (MARA, ANY, RIOT) multiple times for gains. I still don't understand why they shoot up and what is it used for, but one thing I learned on BGOL, if enough (smart) brothers start consistently talking about it, get on board.

There were brothers on this board talking about crypto back in 2013. Also brothers were talking about Cloud computing back in 2017. If you got in on either early you would be in great shape now.

You and I are pretty much on the same page. My only regret was not putting in more for bitcoin and eth.

 

[mcguyver]

Is the 2008 housing crash that literally fucked up the world's economy a foreign concept to you?

Also

https://www.axios.com/2023/11/27/home-sellers-losing-money-profit-loss

Larger share of U.S. homes sell at a loss

A growing proportion of homeowners are selling their houses for less than they paid for them, per data Redfin requested by Axios.

Why it matters: Some homeowners lost six-figure amounts on their sale.

Driving the news: More than 3% of U.S. homes sold at a loss August–October 2023 — up from 2.4% a year ago.

The median loss was around $40,000, per Redfin data.
Zoom in: The highest proportion and largest losses were in San Francisco. Roughly one in seven SF owners lost money on their home sale, with a median loss of $122,500.

Detroit, Chicago, Cleveland and New York were also among the top five cities with the highest proportion of losses — all north of 6%.
Losses were least common in Providence, Rhode Island; Anaheim, California; San Diego, Boston and Fort Lauderdale, Florida.

Your comparison still makes absolutely no sense to me.