OT: Bitcoin, Altcoins, NFT's & All Things Crypto
- Thread starter bob-loblaw
- Start date
For most naive folks, that money was lost the second some unknown person wrote a white paper that was nothing more than a roadmap on how to run the biggest scam of our lifetime. My contractor buddy, which other than his union pension doesn’t have any other investments, was telling me yesterday he bought ETH based on his teenage son’s recommendation and is deep in the red after attempting to buy the dips in last year or two. The guy does kitchens and bathrooms and was taking his investment advice from a 17-year old?!?! Unfortunately, his situation is not unique. I have another lawyer friend in her late 40s that dumped a bunch of money into BTC thanks to her son who’s a senior in college. Kept telling her to buy the dip LOL. She’s lost half her money. These are the people that will be hurt the most if there is a systemic crypto collapse. Unfortunately, pumpers like Novogratz and Guy the Crypto Guy will be just fine when the dust settles.
Did their kids give themselves titles like master of coins, technoking, or BS master?
Ok, but how is it different than any other joey jerkoff giving someone a "hot stock tip" What if said contractor buddy's teenage son sold him on SVB, Carvana, Zoom or any other stock that s down 40%+ in the last year? Would you be going on about how the entire stock market is the biggest scam of our lifetime? You wouldn't.
The reality is the person doing the purchasing bares all the responsibility for their poor decisions.
And I do not disagree that the vast majority of the crypto-space is a scam. While I was once aggressively pro-crypto, my tone has noticeably changed in the past year to essentially be a BTC maxi. I think web 3, NFT's and other tokens will have their place in the future, but it's essentially the wild west. Good luck finding a token that is not either a rug pull or a CBDC in disguise with multi-sig and censorship capabilities. I probably shouldn't be saying that my opinions have morphed over time, out of fear I maaaay be dubbed a thesis creep again.
Also, you love Novagratz. I've never seen anyone on here defend him or anyone legit on crypto Twitter speak highly of him. He has a Luna tattoo for heaven's sake. If you're on Twitter, I would be happy to provide you people of substance to follow.
Listen, I’m not saying that crypto is the only BS investment. But at the very least Carvana and Zoom are real companies, with real employees, real products, regardless of poor stock performance. But normal, everyday people have gotten sucked into a crypto mess they know nothing about based on media hype and pumpers who are leaving them holding the bag. These morons see Musk tweeting BS and get sucked in.
Just as countless everyday people have gotten sucked into buying the peak of stocks, meme stocks and the like. How is someone taking investment advice from Musk different than someone taking a bath on a Cramer tweeted stock? Its not, people are going to be duped everywhere by anything. Doesn't matter whether or not its a stock, crypto, or even a product. Hell, Arby's ads make some of their sandwiches look legit. The reality is that i know what am arby sandwich is going to be...
Usdc moving back to $1, at 0.98
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+1Usdc moving back to $1, at 0.98
The Official Blog of Circle and USDC
The Circle Blog is your source for the latest product features, company announcements, and insights from Circle and USDC. Read and subscribe for more info!
Looks like USDC's temporary de-pegging was a non-event.
I hear what you are saying. But I don’t think Cramer’s primary motivation is to spew false information or to pump stocks to enrich himself. Notice I said “primary”. On the other hand, when Hollywood is getting paid to pump shitcoins and Musk’s kids are trading Doge while he’s tweeting that’s a problem. Regardless, I don’t feel bad for anyone that doesn’t research where they put their money. And while I do applaud you for admitting your view has changed on just about everything outside of BTC, remember the debates we had on the topic when this thread started…quite a reversal.
Regulators close crypto-focused Signature Bank, citing systemic risk
U.S. regulators on Sunday shut down New York-based Signature Bank in a bid to prevent the spreading banking crisis.
+1
Held up extremely well. The alt currency theory will develop as BTC and ETH networks continue to mature.
Yeah, I always had hesitation, but it was tempered by a faith in people and humanity that has clearly proven to be a farce. The Andresson interview a few mos back where he couldnt answer real use cases for web 3.0 was an eye opener. Here's a huge crypto VC who sounds like a bafoon trying to answer about real use cases. And he wasnt even being pressured, it was a friendly interview.
But again back to Musk, are his familiues actions reallllly that much different than say Pelosi or any other member/family member of Congress who trades? It's really all grey area, and the grey area everywhere is getting murkier and murkier.
I bought the recent dip. Still very small BTC and ETH positions, but slowly rebuilding them.
A Dark Day For Silicon Valley Bank Is Bitcoin’s Time To Shine
Bitcoin, the digital currency that has long been viewed with skepticism by the financial establishment, is having its moment in the sun.
www.forbes.com
Not to throw my conspiracy hat on (again), but it sure seems odd that a month after the us govt was trying to eliminate onramps to crypto, three of the largest crypto banks "shut down" within a week.
Side note, Jason Lowery who I've spoken about several times here has seen his MIT thesis explode as one the best selling tech book, Softwar. I've yet to read it, but have listened to several of his podcasts/interviews, to say he has a very unique POV on BTC would be putting it mildly.
Side note, Jason Lowery who I've spoken about several times here has seen his MIT thesis explode as one the best selling tech book, Softwar. I've yet to read it, but have listened to several of his podcasts/interviews, to say he has a very unique POV on BTC would be putting it mildly.
Crypto world crashing down but line go up, I’m sure this is all just random organic adoption that began on a Sunday afternoon from institutions and not the brokers playing games to build a convenient narrative.
There should be two prices, one in USD and one in USDT/BUSD.
Fidelity Crypto quietly went live, giving millions of retail customers access to bitcoin, ether
Fidelity Investment's crypto arm, Fidelity Digital Assets, launched commission-free trading on the two largest assets by market cap in crypto to all users (old and new) recently.
Fidelity Crypto has been a very good platform so far. Simple and easy to use. I'm using it to rebuild my BTC and ETH positions. They said more coins/networks will be added in the future.Fidelity Crypto quietly went live, giving millions of retail customers access to bitcoin, ether
Fidelity Investment's crypto arm, Fidelity Digital Assets, launched commission-free trading on the two largest assets by market cap in crypto to all users (old and new) recently.www.theblock.co
Definitely trust them.
No direct fees for trades, but the spread is up to 1% (but not more).
Yes, up to $250. It doesn't show the spread automatically. It may be available with the order info, but I never looked.
What are their maker/taker fees? If I wanted to withdraw 2 btc from a Fidelity wallet to cold storage, what would they charge
They don't have the transfer functionality yet. They hold your coins in storage. As per their website:
Transferring crypto out of a Fidelity Crypto℠ account
In this early version of Fidelity Crypto you won't be able to send or receive cryptocurrency. But, we're exploring cryptocurrency transfers in the future. Turn on your notifications to receive updates.
I just posted it in the stock thread, but you can certainly trust your bank, but if whatever state they are in or even the fed says to seize deposits, you're beat. Not saying its likely to happen, but it seems to becoming more of a chance with each passing day.
If the gov'ment starts seizing deposits like that, we have bigger problems to deal with. Besides, I doubt I will ever have enough BTC and ETH to survive with it. But who knows! :)
Lol. People trusted FTX too.
It's not that far off. Canada did it last year to avoid people who donated to the truckers. Our govt has freezed assets before. It's not as far fetched as it seems.
Go back 4 years ago and ask yourself if 2018 you would have believed that (insert anything here) could have happened.
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