Anyone Invested in crypto?

[smokingman]

There will always be an attack on crypto so long as it competes as a currency against the powers that be. Old money in high places doesn't want to lose any purchasing power.

and..the very next day.

US SEC sues crypto exchange Coinbase, one day after suing Binance By Reuters

US SEC sues crypto exchange Coinbase, one day after suing Binance

www.investing.com

It is an attack to be sure. Binance yesterday today coinbase.

 

[smokingman]

SEC files motion for restraining order to freeze Binance US assets By Reuters

SEC files motion for restraining order to freeze Binance US assets

www.investing.com

 

[JettaKnight]

There will always be an attack on crypto so long as it competes as a currency against the powers that be. Old money in high places doesn't want to lose any purchasing power.

It's not that it's crypto, it's that these exchanges are rife with fraud. Plain and simple.

People aren't using it for (legal) commerce, it's just a new way to speculate.

 

[teddy12b]

It's not that it's crypto, it's that these exchanges are rife with fraud. Plain and simple.

People aren't using it for (legal) commerce, it's just a new way to speculate.

Crypto has been largely speculative for all but a small percent of investors since day 1. Very few out there really understand what crypto is and how it works, but most people are willing to drop a couple bucks hoping it'll go crazy high like what happened to bitcoin. I think 99% of people investing in crypto are hoping for an overnight "get rich quick" even that sets them up for life.

 

[smokingman]

Ex-crypto mogul Sam Bankman-Fried convicted of multi-billion dollar FTX fraud By Reuters

Ex-crypto mogul Sam Bankman-Fried convicted of multi-billion dollar FTX fraud

www.investing.com

A 12-member jury in Manhattan federal court convicted him on all seven counts he faced after a monthlong trial in which prosecutors made the case that he stole $8 billion from the exchange's customers out of sheer greed. The verdict came just shy of one year after FTX filed for bankruptcy in a swift corporate meltdown that shocked financial markets and erased his estimated $26 billion personal fortune.


The jury reached the verdict after just over four hours of deliberations. Bankman-Fried, who had pleaded not guilty to two counts of fraud and five counts of conspiracy, stood facing the jury with his hands clasped in front of him as the verdict was read.

 

[bwframe]

Ex-crypto mogul Sam Bankman-Fried convicted of multi-billion dollar FTX fraud By Reuters

Ex-crypto mogul Sam Bankman-Fried convicted of multi-billion dollar FTX fraud

www.investing.com

A 12-member jury in Manhattan federal court convicted him on all seven counts he faced after a monthlong trial in which prosecutors made the case that he stole $8 billion from the exchange's customers out of sheer greed. The verdict came just shy of one year after FTX filed for bankruptcy in a swift corporate meltdown that shocked financial markets and erased his estimated $26 billion personal fortune.


The jury reached the verdict after just over four hours of deliberations. Bankman-Fried, who had pleaded not guilty to two counts of fraud and five counts of conspiracy, stood facing the jury with his hands clasped in front of him as the verdict was read.

Sam Bankman-Fried was No. 2 top donor to Democrats, only behind Soros

Founder focused on contributing to Democrats, while a fellow executive backed GOP.

www.livemint.com

Oops. Sam Bankman-Fried's implosion took down Democrats' second-biggest donor with it as the party gears up to regulate crypto.

The CEO of struggling crypto exchange FTX was the party’s second-biggest individual donor in the 2021–2022 election cycle.

fortune.com

 

[jerrob]

I guess I'm kinda invested in crypto now.
We found a debit card charge of $300 for a crypto purchase in Holland, wife is off to the bank today to contest the charge and get us a couple new cards.
I'm telling everyone I'm well traveled and have quite the diversified investment portfolio and NOT a fat, old man in Tennessee that yells at the deer to get off his lawn.

 

[gregkl]

Ex-crypto mogul Sam Bankman-Fried convicted of multi-billion dollar FTX fraud By Reuters

Ex-crypto mogul Sam Bankman-Fried convicted of multi-billion dollar FTX fraud

www.investing.com

A 12-member jury in Manhattan federal court convicted him on all seven counts he faced after a monthlong trial in which prosecutors made the case that he stole $8 billion from the exchange's customers out of sheer greed. The verdict came just shy of one year after FTX filed for bankruptcy in a swift corporate meltdown that shocked financial markets and erased his estimated $26 billion personal fortune.


The jury reached the verdict after just over four hours of deliberations. Bankman-Fried, who had pleaded not guilty to two counts of fraud and five counts of conspiracy, stood facing the jury with his hands clasped in front of him as the verdict was read.

I will admit I don't understand why people do stuff like this. I get that its "greed" but if I had a billion dollars, or heck a couple million, I would be just fine. I certainly wouldn't need to resort to activities that could cause me to lose it all just to get more.

Lord, let me have enough so I don't resort to stealing and not so so much that I forget about you. Proverbs paraphrased by Greg.

 

[Nugget]

I certainly wouldn't need to resort to activities that could cause me to lose it all just to get more.

 

[jd4320t]

Crypto is rocking. Even my Dogecoin is almost in the green. What’s going on??

 

[Mij]

Crypto is rocking. Even my Dogecoin is almost in the green. What’s going on??

I asked the almost same thing in the silver thread. One fellow mentioned bitcoin gains, the last page is pertinent to your question.

 

[Super Bee]

Crypto is rocking. Even my Dogecoin is almost in the green. What’s going on??

We have zero idea but our Bitcoin is going nuts along with our other crypto.

Why everything is taking off now. . no clue. Just keep rockin.

 

[1775usmarine]

Up 52% on my doge

 

[smokingman]

We have zero idea but our Bitcoin is going nuts along with our other crypto.

Why everything is taking off now. . no clue. Just keep rockin.

Maybe the 1 trillion the US government needs every hundred days?
I doubt than number gets smaller, more than likely to double within 3 years.

 

[nra4ever]

ETF's have changed the game. We are now way ahead of the all time high before the halving. First time ever event. There are only 21million bitcoin ever. Bitcoin can't be inflated. Bitcoin will over take gold and be number one. Will probably happen next cycle. The traditional bull run will go to October of 2025. Now is the best time to buy Bitcoin while you can at these cheap prices. If u want to gamble there are plenty of cryptos that will 20x 50x and more your money. Dump those just before October 2025. Not financially advice. With the ETF the bull run may not end just slight corrections as it goes higher and higher. Buy buy buy

 

[CHCRandy]

ETF's have changed the game. We are now way ahead of the all time high before the halving. First time ever event. There are only 21million bitcoin ever. Bitcoin can't be inflated. Bitcoin will over take gold and be number one. Will probably happen next cycle. The traditional bull run will go to October of 2025. Now is the best time to buy Bitcoin while you can at these cheap prices. If u want to gamble there are plenty of cryptos that will 20x 50x and more your money. Dump those just before October 2025. Not financially advice. With the ETF the bull run may not end just slight corrections as it goes higher and higher. Buy buy buy

Yeah, I keep hearing crazy price targets on it........like $500,000 to $1 million each within a decade. That is hard to believe....but wish I had bought that last big sell off on it.

 

[nra4ever]

$70,000 is still cheap if you know it’s going to 1 million plus in 10 years or less. Just buy as much as you can to afford to lose. Just buy $10 each paycheck.

 

[tim87tr]

We have zero idea but our Bitcoin is going nuts along with our other crypto.

Why everything is taking off now. . no clue. Just keep rockin.

Maybe the 1 trillion the US government needs every hundred days?
I doubt than number gets smaller, more than likely to double within 3 years.

Yes, no confidence in the fiat currency. I saw this 4 years ago when the massive money printing ramped up. Has to be intentional to destroy it that quickly with excuses like shutdowns and wars we shouldn't be involved in. I took care of some big projects at home during this time knowing it would be more difficult or impossible later on with a dying devalued currency.

Bitcoin is an alternative along with precious metals. I agree with John Rubino that there is an imminent financial death spiral. These two short summary articles, of the video, highlight last Fall with how quickly it has changed to now.

U.S. Financial Death Spiral – John Rubino | Greg Hunter’s USAWatchdog

By Greg Hunter’s USAWatchdog.com (Saturday Night Post) Analyst and financial writer John Rubino has a new warning about being fooled into thinking the economy is improving because inflation and interest rates have fallen some recently. Rubino says, “If the U.S. government is running crisis level...

usawatchdog.com

Eventual Financial Death Spiral Now Imminent – John Rubino | Greg Hunter’s USAWatchdog

By Greg Hunter’s USAWatchdog.com (Saturday Night Post) Analyst and financial writer John Rubino warned nearly four months ago of a “U.S. Financial Death Spiral.” This past week, Bank of America caught up to Rubino and issued a warning about a "US dollar death spiral" because the federal...

usawatchdog.com

 

[ditcherman]

$70,000 is still cheap if you know it’s going to 1 million plus in 10 years or less. Just buy as much as you can to afford to lose. Just buy $10 each paycheck.

If you really "know" that why don't you put everything you have and then some in it?

 

[nra4ever]

If you really "know" that why don't you put everything you have and then some in it?

I did. I even converted my 401 to a bitcoin 401 with itrust. I’m not saying everyone should do the same. if it goes to zero that’s ok. At least I tried and still have social security LOL.