Big trouble in the Cryptoverse

Our owners are going to use this to push Fed digital currency.

Then they will outlaw cash as they really turn the screws to us.
 
Walt said:
That would be a lot... If we were talking about anything other than crypto. I have seen a fall of 99.99%. I have seen bull market rises of 10,000,000%. There was a point that I realized that even if I made money off crypto, it was too wild for me, I was not enjoying my life owning crypto. If I was only looking at 10% drops, I would still be in crypto.

The switch from proof-of-work to proof-of-stake in Ethereum opens up some interest prospects of accepting other people Ethereum in a smart contract that would be used as proof-of-stake. I would need an initial investment of 32ETH and maybe $10k. As Ethereum comes down in price, it becomes more and more likely I will do this. $60k is not a huge investment to lose, but there is a huge possible upside to it. If it drops by 10%, then $55k is even less money to lose.

I am still playing around with it in my mind.
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Fidelity's website has a big, "Crypto is Coming" banner on top. Every time I see it I say, "big whoop!". No way would I put any cash I might need later into some intangible like that. Call me, "old school" I guess.
 
Buy tulips. At least you'll have something to show for wasting your money on it...

Dutch Tulip Bulb Market Bubble
A period in the Dutch Golden Age when contract prices for some of the tulip bulbs plunged in February 1637 after reaching extraordinarily high levels
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https://corporatefinanceinstitute.com/resources/economics/dutch-tulip-bulb-market-bubble/

Tulip mania
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https://en.wikipedia.org/wiki/Tulip_mania
(as a basic overview of this bubble.)

Crypto is much like the Tulip bubble. Run away from it.
 
Primavera said:
I think the same about you, Salty.
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I find crypto-bros annoying, so I would not want to do business with them. It is not a moral imperative that I do not do business with them.

You are actually involved with genocide. It is a moral imperative I do not do business with you.
 
LurchAddams said:
Fidelity's website has a big, "Crypto is Coming" banner on top. Every time I see it I say, "big whoop!". No way would I put any cash I might need later into some intangible like that. Call me, "old school" I guess.
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I find it disturbing that Fidelity is hyping things in such a manner. It seems like a casino atmosphere.
 
Walt said:
I find it disturbing that Fidelity is hyping things in such a manner. It seems like a casino atmosphere.
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Investing is kind of like gambling. It's a pretty good gamble - the market has had it's ups and downs but in total it's only gone one direction since the early 1900's - UP!
 
LurchAddams said:
Investing is kind of like gambling. It's a pretty good gamble - the market has had it's ups and downs but in total it's only gone one direction since the early 1900's - UP!
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It is a gamble, but it should not be presented as gambling. There should not be free alcohol served by women in skimpy outfits at brokerages. The whole point of casinos are to push people into making mistakes in judgement, which should be the opposite of what a brokerage does.

I setup a Robinhood account a couple of years ago, and did a test trade. Fake confetti burst across my cell phone screen, as I was congratulated on making my first trade. It would also make noises to encourage me to trade as much as possible. The SEC is now questioning whether this all is too much psychological game playing to get people to invest.
 
Walt said:
It is a gamble, but it should not be presented as gambling. There should not be free alcohol served by women in skimpy outfits at brokerages. The whole point of casinos are to push people into making mistakes in judgement, which should be the opposite of what a brokerage does.

I setup a Robinhood account a couple of years ago, and did a test trade. Fake confetti burst across my cell phone screen, as I was congratulated on making my first trade. It would also make noises to encourage me to trade as much as possible. The SEC is now questioning whether this all is too much psychological game playing to get people to invest.
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Mind Molding, as we watch the fake progressive WOKE practice constantly.
 
Walt said:
It is a gamble, but it should not be presented as gambling. There should not be free alcohol served by women in skimpy outfits at brokerages. The whole point of casinos are to push people into making mistakes in judgement, which should be the opposite of what a brokerage does.

I setup a Robinhood account a couple of years ago, and did a test trade. Fake confetti burst across my cell phone screen, as I was congratulated on making my first trade. It would also make noises to encourage me to trade as much as possible. The SEC is now questioning whether this all is too much psychological game playing to get people to invest.
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I don't like that online sports gambling is legal either. That's going to destroy a lot of families.
 
LurchAddams said:
I don't like that online sports gambling is legal either. That's going to destroy a lot of families.
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A lot of things that did not work in the past are being done again. There are casinos a two hour drive from the majority of Americans, and online gambling everywhere. There is a lot of stealth gambling(fantasy football for money and the like). It is worrying.
 
Walt said:
A lot of things that did not work in the past are being done again. There are casinos a two hour drive from the majority of Americans, and online gambling everywhere. There is a lot of stealth gambling(fantasy football for money and the like). It is worrying.
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When states went all in for Lotto as a get rich fast scheme they lost the right to object.
 
Hawkeye10 said:
When states went all in for Lotto as a get rich fast scheme they lost the right to object.
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I think there are various levels of danger in different types of gambling. If we say that allowing a little gambling is the same as allowing a lot of gambling, we are missing the point.

It is like saying that we get a drug caffeine from chocolate, so therefore it is fine to do meth.

But I agree with you that the state lottery was probably a mistake. It is a tax on the stupid.
 
Walt said:
I think there are various levels of danger in different types of gambling. If we say that allowing a little gambling is the same as allowing a lot of gambling, we are missing the point.

It is like saying that we get a drug caffeine from chocolate, so therefore it is fine to do meth.

But I agree with you that the state lottery was probably a mistake. It is a tax on the stupid.
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It was the government supplying the means for behaviour that is bad for society in order to collect money from the willing, rather than need to make the case to collect it from the more unwilling. It was the more easy but less good road, and they went all in.
 
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