anyone who is still into crypto is an idiot. they've been warned again and again.
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Gizmodo: Crypto Platforms Are Halting Withdrawals as Bitcoin Tanks Over 13%
- Thread starter Teh_Lurv
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Cryptobros using El Salvadorians and other victims of this obvious scam as meat shields for their shitty "investment" vehicle is par the course in terms of argumentative tactics.
Virtually trying to pass off "but they're already getting scammed, so let the scam continue!" as a legitimate defense for this shit.
Virtually trying to pass off "but they're already getting scammed, so let the scam continue!" as a legitimate defense for this shit.
Imagine calling it an investment when there's literally eff all invest in. It's parking money in the hopes of being able to pull out more in future at the expense of others who didn't time it as well as you hope to. Save that hopes and dreams bullshit, it's as disingenuous as it is transparent. Greed is the motivator.
That's 2 bottom lines! My favourite is the 3rd bottom line - the one BTC crashes through and all this shit finally implodes in on itself.
The glee is because it's hopefully ending. It's a scam that should have never gotten as big as it is and was helping destroy the environment for no damn reason. Hopefully the victims land on their feet, but they were duped, this was always going to be how it ended. The only question was when it would happen.
So 90% of the crypto space?
The other thing the media focused on (and I'd argue much more than on the scams) was the meteoric rise of BTC value, which fueled the bubble, brought more private investors and lead to the absurd rise in price.
As seen in the sad topic of the person who lost a lot in this crash, people aren't laughing at everyday investors losing money. They're just pointing out that what they have been saying for years happened: crypto is literally make believe money, with no intrinsic value or problem it solves, only propped up by the belief it's going up. Of course, as soon as liquidity in the real world becomes scarce because of recession and rising interest rates, there's less gambling money, and the illusion shatters.
Cryptobros using El Salvador when the salvadorians should [REDACTED] Bukele is one of the things that never will stop to amuse me
I guess even crypto exchanges buying BTC with their own fake coin they kept inventing more of lately wasn't enough to keep it over 20k.
Now they get to exit the game with all the BTC which still hold some value while everyone else got stuck with something that will be worth as much as LUNA.
Now they get to exit the game with all the BTC which still hold some value while everyone else got stuck with something that will be worth as much as LUNA.
It's legitimately funny to read this thread, and then the OT where people still try to dupe others into buying like "Think about what you would have done last year. Would you have loved to be able to buy BTC or ETH at those prices? I imagine so."
Yeah yeah different people in this forum, I know, but sometimes we're worse than any subreddit :D
Yeah yeah different people in this forum, I know, but sometimes we're worse than any subreddit :D
Let's not forget that the scam that is Crypto is also a collossal waste of resources and actively contributes to the planet becoming a worse place to live.
And that affects everyone, not just those that have bought into the scam. All the hate towards Crypto is entirely warranted. In fact, there is not yet nearly enough outrage about how damaging this useless ponzi scheme is.
And that affects everyone, not just those that have bought into the scam. All the hate towards Crypto is entirely warranted. In fact, there is not yet nearly enough outrage about how damaging this useless ponzi scheme is.
I've made a good amount of cash and as for my existing investments, who knows. Pretty wild times ahead.
anyone surprised by this crash doesn't have realistic expectations of btc cycle.
Each cycle it dropped atleast 80% from ath.
Last btc cycle we went -85% from all time high. That would correspond with roughly 10300$ pricepoint.
Expect further downward movement in coming year
Each cycle it dropped atleast 80% from ath.
Last btc cycle we went -85% from all time high. That would correspond with roughly 10300$ pricepoint.
Expect further downward movement in coming year
People being all gleeful about this should be sad it is happening. If crypto fully crashes, we will never see ethereum finally move to proof of stake, all the shit coins showing their real-world utility, or more gibberish being created to push the scam.
When people say "It's a big scam", those are the people that are being scammed. They're getting "hurt by the current markets" which leaves them vulnerable to being scammed.
It's nearly always people who really can't afford to lose that want to believe in this stuff enough that fall for it.
This is prolly the most offensive post in the entire thread lmao.
Why are you putting words in my mouth? You can want the crypto market to die, be better regulated, be less volatile/ have all kinds of wishes for it. The only thing I said whas that I found the glee with which the market crash is received here to be bizarre and I still do.
Thanks to the couple of users who explained their concerns, which I understand.
I phrased that rather poorly. How about, every pyramid scheme needs a bottom layer and they tend to be the people who can afford it the least?
Edit: actually that's not great either.
Yeah, true. But because they can't afford the losses these are the people who hope the most that it isn't all a scam (or if it is, that they can at least ride the wave long enough to become rich).
Feel free to direct your moral ire at the people who got others on board this environmentally ruinous bullshit and propped themselves up at the expense of others, because that's the only way this shit works. Until it doesn't.
I'd also like to dedicate this post to all the variations of "lol stay mad"/"lol stay poor" garage capitalists we've seen on this forum for years.
Is that actual music or is it generated from the transactions? The latter I presume. It's pretty epic.
Gonna be real interesting to see what happens in a potential recession environment. No clue when the bottom is. Gonna stick with stocks for now. Maybe dip my toes back in crypto when we got stability.
People are going to find jubilation in an inherently money siphoning "investment" class being pushed by not-so-subtle crypto evangelists meeting it's end. Your attempt at conflating the desire for crypto to end with wishing for the ruining of personal lives is an obfuscation tactic to make it seem like those who oppose crypto are also against the victims of crypto.
In fact, the immorality and unrepentant greed in the crypto space leading to said victims is WHY we want to see it end in the first place.
I will be absolutely full of glee if crypto dies, as it will prevent many, many more people from being scammed.
Scams need to die, and yes, we should be happy when they do.
Crypto will rise back up like a zombie after interest rates eventually fall if governments don't move to truly regulate it just as hard as other investments during this """crypto winter""". MLMs are still around because the government is fine protecting pyramid schemes with extra steps for whatever reason.
I mean the era crypto thread *right now* has people posting saying now is the time to start buying in. It's a pyramid of scams, and there are no 'innocent' people involved apart from the families of idiots who sunk money into it. I will laugh with outrageous glee at every drop.
No-one was forced into crypto. It was the most warned about scam *in history*. There have literally been thousands of articles, warnings and posts that this was a scam that also destroyed the planet and people still piled in. So fuck every last one of them.
No-one was forced into crypto. It was the most warned about scam *in history*. There have literally been thousands of articles, warnings and posts that this was a scam that also destroyed the planet and people still piled in. So fuck every last one of them.
Man Who Lost Everything In Crypto Just Wishes Several Thousand More People Had Warned Him
CHICAGO—Saying he had been absolutely blindsided by the sudden change in his fortunes, local 33-year-old Tyler Branton, a man who lost everything in cryptocurrencies, told reporters Thursday that he just wished several thousand more people had warned him. “If only a thousand—or even a few...
www.theonion.com
the people of el salvador are investing in crypto? i wouldn't call bukele buying every dip "el salvadorians...investing"
Very funny a few days ago watching people say 20k was the bottom. Just keep buying! I'm sure you'll get your money back eventually and become a millionaire! Just spend spend spend, don't think, just become rich by spending! Everybody else telling you it's a bad idea is because they are jealous of how smart you are, they are morons who can't see the future like you. Get out there and spend and make your dreams come true!
That user is just using the victims of crypto as a prop to shield away the criticism.
Literally trying to make out the opponents of crypto as "the bad guys" when cryptobros are the ones who made the less fortunate their victims to begin with. Someone make sense of that circular logic for me lol.
I know right? Was just thinking to myself I'll put this on in the background when I work. The music of fear and greed.
I strongly agree with your sentiment but cold fucked up reality will say that the time to do that vanished about half a decade ago. And after that came the infinite non-stop warning bells.
Scammers and grifters aren't eating this loss. Normal people are.
The scammers and grifters are the ones who get ahead in Crypto unfortunately..
Those normal people *are* scammers. It's a system that only works if more and more people join. All those 'normal people' were relying on folks coming in after them. And they knew this. Whether you like it or not, every person who bought into crypto was willingly joining a pyramid scheme that relied on more people jumping in after them. And unlike normal pyramid schemes which hide what they are doing, there is *zero* excuse for not knowing what was going on. A standard google search instantly gives you articles and videos pointing this out.
I'm begging people still in crypto, please.
For your own well being, jump out now.
I know you're determined to see it through, I know you're convinced this is just another cycle and it'll rise again, and now's the "perfect time to buy again".
But if you invested any money, even a single dollar, that you probably shouldn't have, that you probably can't afford to lose, thinking itll turn around, take it out now. You are being given a short window to actually get out before the dam truly breaks, and this is the time to do so.
And not by buying tether either. Actually cash that shit out. You are flirting with actual danger at this point. If Tether breaks, the rest of crypto is going with it.
For your own well being, jump out now.
I know you're determined to see it through, I know you're convinced this is just another cycle and it'll rise again, and now's the "perfect time to buy again".
But if you invested any money, even a single dollar, that you probably shouldn't have, that you probably can't afford to lose, thinking itll turn around, take it out now. You are being given a short window to actually get out before the dam truly breaks, and this is the time to do so.
And not by buying tether either. Actually cash that shit out. You are flirting with actual danger at this point. If Tether breaks, the rest of crypto is going with it.
That was true in tech media, not really in MSM.
I looked at the Washington Post articles about "crypto" in 2021 (I removed those about kryptonite...):
Only very few of those are about all the scams and instability (remember, 2021 is the year of the NFT craze with insane amount of scams AND a semi crash in November), most are about mundane stuff (giving off the impression crypto is a normal investment), and a few are about how rich you can get with BTC.
MSM definitively played a role in normalizing crypto for the general public, and gave the image (for an uninformed public) that it was just another investment, just with far better potential payoffs than most stocks.
There was a lot of paid for puff pieces in the MSM. Like a lot. Of course they are still at fault but grifters absolutely tried to force this shit down peoples throats by paying for coverage.
I don't agree with either of these.
Not everyone is looking to convince others, and the internet is not so black & white when it comes to cryptocurrency. A google search now and you'd expect it to be doom and gloom yet, half the articles are talking about whats next for crypto rather than urging people to get out.
I honestly hope people here herd your words. Because at this point the focus should be minimizing the amount of victims before the collapse.
Tether is literally on borrowed time. Peep the similarities between other recent frauds like Nikola, Theranos, and Wirecard - and know it's going to go down very similarly but several magnitudes worse.
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