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Crypto Crash

Valcazar

Just a bundle of fucking sunshine
Mar 27, 2014
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I agree with you on the technological side. And the example you wrote are all technological use of crypto and especially the blockchain mechanism.

But unregulated crypto currency is the absolute biggest ponzi scheme ever existed. It's selling sand in the desert. If you are in it just an advice... Do not be the last fool.
The problem is that there is nothing that blockchain does that is particularly interesting.
No one has shown a convincing use case that isn't better served by a different technology.
(Outside of trying to avoid regulation or taxes or so on.)
 

black booty lover

Well-known member
Oct 21, 2007
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The problem is that there is nothing that blockchain does that is particularly interesting.
No one has shown a convincing use case that isn't better served by a different technology.
(Outside of trying to avoid regulation or taxes or so on.)

I absolutely love the rebuttal every time someone debunks crypto and the answer is "yeah but the block chain technology"...lol.
 
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jalimon

Well-known member
Jan 10, 2016
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You guys saw that Mazar Group pulled out of all their involvement with all the crypto firm they were doing business with? And they had some of the big ones.

Hint... Mazar was the previous accounting firm for Trump's businesses before pulling out saying none of their numbers are correct.

Something tells me that there's probably a few irregularities here and there... Does not smell really good...
 

glamphotographer

Well-known member
Nov 5, 2011
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Canada
With FTX scam, only a matter of time before crypto gets regulated. In other countries out right banned.
 

Valcazar

Just a bundle of fucking sunshine
Mar 27, 2014
28,019
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correct, within 5 yrs
OK, that seems a straightforward enough bet.

Within 5 years (Why not make it by Jan 1 2028 to make it easy), will Bitcoin ever pass 65k again.

So even one day or one second over 65k will count?
Or does it have to hold there for any length of time?
 

sprite09

Well-known member
Aug 10, 2020
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OK, that seems a straightforward enough bet.

Within 5 years (Why not make it by Jan 1 2028 to make it easy), will Bitcoin ever pass 65k again.

So even one day or one second over 65k will count?
Or does it have to hold there for any length of time?
yep jusr reaching 65k ...because IMO approaching near ATH would constitute a recovery ...I'm actually giving him better odds since he said "it'll never recover " which means he thinks it'll go only down from here

and Jan 1 2028 yep ..fair
 

Valcazar

Just a bundle of fucking sunshine
Mar 27, 2014
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It would seem the ball is in black booty lover's court.
 

sprite09

Well-known member
Aug 10, 2020
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It would seem the ball is in black booty lover's court.
yep...if he doesn't wanna do it then that's fine ofc

it's dangerous to say "never " or "always " in finance ...but risk-on assets recovering is a pretty good bet
 

black booty lover

Well-known member
Oct 21, 2007
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OK, that seems a straightforward enough bet.

Within 5 years (Why not make it by Jan 1 2028 to make it easy), will Bitcoin ever pass 65k again.

So even one day or one second over 65k will count?
Or does it have to hold there for any length of time?

This guy wants to place a bet with me where we touch base in 5 years....lol.:ROFLMAO::ROFLMAO:
 
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sprite09

Well-known member
Aug 10, 2020
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This guy wants to place a bet with me where we touch base in 5 years....lol.:ROFLMAO::ROFLMAO:
ya thought so ...I'll lower my timeframe if you want to lower the threshold of a recovery ?

BTC is roughly 17k, so technically 18k would be a recovery since you said 100 percent it will go down from here and therefore absolutely no recovery.
 

jalimon

Well-known member
Jan 10, 2016
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As long as the industry has young kids running the show crypto does not have a bright future.

Read or listen to the few interview Caroline Ellison did before the fall of FTX for corruption. She's laughing about losing tons of money on investment without stop loss gauge.

FTX was run by kids who were born rich. For them money is fictional. Their mind is like 'we will never ran out of money'.

There are hundreds of example around the world of these 'kids' stealing in crypto scheme.

Stay out of that bull shit until it's properly regulated.
 

Valcazar

Just a bundle of fucking sunshine
Mar 27, 2014
28,019
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^^

Even the most implacable critics of crypto (Warren Buffett has called it “rat poison squared”) credit crypto with inventing blockchain, giving the world a superior system for processing financial transactions that will probably become the global norm.

Blockchain is what experts mean when they say that crypto is the future of finance. They’re not talking about a future ubiquity of CBDCs or other cryptos. That could someday happen. But it’s a near certainty that a financial world that’s already largely digital will run on blockchain.
WTF??
Why the hell would the financial world run on blockchain?
 
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