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REPORT COPYRIGHT VIOLATION IN REPLY
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Message Subject
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Breaking: FTX files for Bankruptcy, founder started FTX 13 days after Biden said he was running and became megadonor
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Poster Handle
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Anonymous Coward |
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Post Content
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For something (crypto) that's supposed to be sooo wonderful, sure seems like a lot of bad shit happens to it.
Crypto-tards really should take a pause and look at it critically, it's failed on many levels.
I'm not a gold-tard or anything else. The system we have is actually pretty good, except for the fact the government can print at will.
But even that is a priviledge reserved for the US, other governments that try it destroy their economies.
Be grateful for what we have my fellow GLPer's, most alternatives are much worse.
Quoting: Dr. Daniel Jackson, SG1 81523772 Crypto is fine. It's not the tokens, it's the exchanges. FTX was using a self created token as collateral to secure loans to invest on margin. Their token had to stay a certain price to keep everything afloat. This really isn't any different than sub prime lending, Enron, Lehman Brothers, Bernie Madoff etc. To be honest it's just growing pains. Yeah it might suck for many people, but crypto isn't going anywhere and it will be the foundation of whatever the next iteration of the economy is. Like we left the gold standard and went on the oil standard, now we'll be going to crypto. It'll take several more years for everything to settle out. But I will say this, right now in crypto it's probably the best place to make generational wealth... but that door is closing. You recommend playing it safe, but playing it safe has made zero wealthy people. And by wealthy I mean millions or more. The problem with crypto is it is not stable and it's not really backed by anything. The price fluctuates to much and there is no government backing the fictional currency. You are right that it isn't going away and it will be the future. It will be the future of your enslavement and tracking and tracing every private transaction down to the fraction of a cent. The deepstate has been openly salivating over that thought since the 2000s. This is all beta testing for the digital dollar and that will be stable and backed by the government. At that point it will be the only crypto the banks and corporations will trust and accept. You dingbat nerds are programming the bars of your digital prison, while you think you are rebels fighting the system. It is the ultimate trap. Like the false righteous that boldy walk into hell, because they think they are there to save the sinners. Nope. This just shows the ignorance about cryptocurrency. Crypto is the only safeguard of freedom. But I mean truly decentralised crypto. What you are scared of is CBCDs (Central Bank Digital Currencies). They are a digital evolution of fiat (which, incidentally, hasn't been backed by anything for decades). The shit storm we are now seeing is because asshats like SBF (who has now also been accused of conspiring with Gary Gensler of the SEC to create a regulated monopoly), are in the pockets of politicians and central banks, and are trying to kill crypto by centralising it by stealth. Educate yourself. Crypto is the antithesis of CBDCs and people who understand crypto would never leave their balances on centralised exchanges. Use exchanges for buying and selling only, then keep your assets in non-custodial wallets (preferably several, including a hardware wallet or two for your long-term holdings).
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