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(CNBC)   I'm surprised it's even that high   (cnbc.com) divider line
    More: Obvious, Investment, Finance, retail market, dramatic fall, crypto investors, Market liquidity, negative view of the asset, main difference  
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1292 clicks; posted to Business » on 08 Dec 2022 at 10:30 PM (7 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



28 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-12-08 8:33:13 PM  
I've always been in the vast majority who don't trust cryptocurrency.
 
2022-12-08 10:05:30 PM  
That still leaves suckers aplenty.
 
2022-12-08 10:38:02 PM  
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2022-12-08 10:41:52 PM  
Even if you overlook the likelihood of cryptocurrencies being a scam is pretty high, just the fact that they're so VOLATILE makes playing the lottery seem like a better investment. How many times have they crashed now? How many times has the guy in charge just closed up shop and run off with the money? It's dumb.

Sure, our current dollar isn't backed by anything other than trust in the Federal government. There's no gold tying it to any particular value. But at least there's SOME institution with oversight involved, some credibility other than some guy with a computer somewhere saying it's all A-OK and you can totally trust him that CoinyMcCoinface Coin is gonna be the next big thing and make you a billion dollars.
 
2022-12-08 10:44:45 PM  
Whatever happened to old Linux person anyway? I'm sure he's HODLing around here somewhere.
 
2022-12-08 10:58:18 PM  

AirForceVet: I've always been in the vast majority who don't trust cryptocurrency.


Word. Never spent so much as a penny on crypto. I like getting rich as much as the next guy. But after working for about forty years I am loathe to invest in things I don't understand.
 
2022-12-08 10:59:47 PM  
I am positive crypto is a terrible way to throw your savings away. Does that count?
 
2022-12-08 11:04:22 PM  
Few understand...
 
2022-12-08 11:06:55 PM  
diamond hands! hodl! lambos! to the moon! NFTs! pyramid schemes! poverty! depression!
 
2022-12-08 11:17:07 PM  
It was a terrible currency then was a terrible commodity.
 
2022-12-08 11:24:53 PM  

Stargazer86: Even if you overlook the likelihood of cryptocurrencies being a scam is pretty high, just the fact that they're so VOLATILE makes playing the lottery seem like a better investment. How many times have they crashed now? How many times has the guy in charge just closed up shop and run off with the money? It's dumb.

Sure, our current dollar isn't backed by anything other than trust in the Federal government. There's no gold tying it to any particular value. But at least there's SOME institution with oversight involved, some credibility other than some guy with a computer somewhere saying it's all A-OK and you can totally trust him that CoinyMcCoinface Coin is gonna be the next big thing and make you a billion dollars.


It's like the lottery except each number you pick costs you $50,000.
 
2022-12-09 12:32:00 AM  
Most of the people who say they have a "positive view" are heavily invested in crypto and need a new round of suckers to boost the prices.
 
2022-12-09 12:48:10 AM  

bingethinker: Most of the people who say they have a "positive view" are heavily invested in crypto and need a new round of suckers to boost the prices.


There's also the people that did it and happened to cash out on it at just the right time.  Like some guy talking up playing the lottery 'cause he won 100 million dollars.  I mean sure you can... however
 
2022-12-09 1:00:26 AM  

Some Junkie Cosmonaut: bingethinker: Most of the people who say they have a "positive view" are heavily invested in crypto and need a new round of suckers to boost the prices.

There's also the people that did it and happened to cash out on it at just the right time.  Like some guy talking up playing the lottery 'cause he won 100 million dollars.  I mean sure you can... however


The "most" money my co-worker made on crypto was 20K off of 5k. And by "made" I mean he was riding the etherium wave all the way into the ground, ride or die style.

So, he didn't make anything in the end.
 
Azz
2022-12-09 1:12:12 AM  
Things will come full circle soon enough. Once the teat has run dry crypto bros will eventually go back to spending their days masturbating to anime like they did before crypto came along
 
2022-12-09 1:29:31 AM  

AppleOptionEsc: Some Junkie Cosmonaut: bingethinker: Most of the people who say they have a "positive view" are heavily invested in crypto and need a new round of suckers to boost the prices.

There's also the people that did it and happened to cash out on it at just the right time.  Like some guy talking up playing the lottery 'cause he won 100 million dollars.  I mean sure you can... however

The "most" money my co-worker made on crypto was 20K off of 5k. And by "made" I mean he was riding the etherium wave all the way into the ground, ride or die style.

So, he didn't make anything in the end.


Yep - in this case the however is 99%+ of rando individuals

/somewhat higher for those running the sca... currency I mean
//and those using it to launder money
///and and and - but for Joe 'Investor' guy?  Hey look a unicorn
 
2022-12-09 2:03:06 AM  
It's not a scam, you see I give them my credit card numbers and if one of them is lucky....
 
2022-12-09 2:03:43 AM  

Azz: Things will come full circle soon enough. Once the teat has run dry crypto bros will eventually go back to spending their days masturbating to anime like they did before crypto came along


I thought they were "day trading" before this nonsense started.
 
2022-12-09 2:54:54 AM  
I have to confess, I have an idea of how cryptocurrency is mined and what it is... but never "got" why it was supposed to have actual value. Never invested in it.
 
Azz
2022-12-09 2:57:35 AM  

Ghastly: Azz: Things will come full circle soon enough. Once the teat has run dry crypto bros will eventually go back to spending their days masturbating to anime like they did before crypto came along

I thought they were "day trading" before this nonsense started.


I mean how long does it take to day trade? Push a buy button, push a sell button. Done. After that there's still 6 hours and 25 minutes left in the trading day to do nothing except jerk off
 
2022-12-09 6:31:37 AM  
The people who have made their money in this facade are long gone and spending fiat $ on the things they desire. Hats off, I missed out and still have to work for my money.

Crypto at this point is just a bunch of bag holders creating fake companies in a futile effort to propagate the myth of legitimacy.
 
2022-12-09 7:59:19 AM  
8% of 350 million = 28 million. That's still a lot of suckers!
 
2022-12-09 8:29:36 AM  

dericwater: It's like the lottery except each number you pick costs you $50,000.


And the ping pong ball machines take as much power to run as the Vegas Strip.
 
2022-12-09 9:02:00 AM  
People are dumb. I'm surprised it's that low.
 
2022-12-09 1:21:44 PM  

Stargazer86: Sure, our current dollar isn't backed by anything other than trust in the Federal government.


It is backed by 8,000 nuclear weapons and it isn't like they've never been used.
 
2022-12-09 7:29:49 PM  

madgonad: Stargazer86: Sure, our current dollar isn't backed by anything other than trust in the Federal government.

It is backed by 8,000 nuclear weapons and it isn't like they've never been used.


And you think you're looking at the right end of them.
 
2022-12-09 9:57:24 PM  

madgonad: It is backed by 8,000 nuclear weapons and it isn't like they've never been used.


What is that even supposed to mean?
 
2022-12-10 10:43:08 AM  

BMFPitt: madgonad: It is backed by 8,000 nuclear weapons and it isn't like they've never been used.

What is that even supposed to mean?


That the US can protect the trade value of its currency. A polite way of stating 'don't taunt the dynamite monkey'.
 
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