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Anyone mostly crypto and dropping banks?
Posted on 2/15/22 at 10:15 am
Posted on 2/15/22 at 10:15 am
I don’t have much invested in crypto but watching how quickly banks/governments are to cease funds has been eye opening. I’m not a political activist and have no desire to be. I just see this tactic being used more often now and it’s scary. My understanding is that it’s considerably more difficult with crypto? Any of you dropping banks and gone 90-100% crypto? If so can you share your story/advice?
17
Posted on 2/15/22 at 10:16 am to TimeOutdoors
Crypto is a government scam to distribute reparations to minority groups like women, blacks, trans, homosexuals, and Green Party members.
Posted on 2/15/22 at 10:16 am to TimeOutdoors
Good luck using your crypto when the government shuts down the points of exchange like Trudeau is doing to the truckers.
Granted, the government can also freeze your bank accounts. Nothing is safe in these inflationary times of tyranny.
Granted, the government can also freeze your bank accounts. Nothing is safe in these inflationary times of tyranny.
This post was edited on 2/15/22 at 10:18 am
Posted on 2/15/22 at 10:19 am to TimeOutdoors
I'm waiting on my crypto check books to come in... Supply chain is slowing Harland down...
Posted on 2/15/22 at 10:20 am to TimeOutdoors
Crypto is too volatile to be used as a store of value, and difficult to use for everyday transactions. It has its uses, but this isn't it.
Posted on 2/15/22 at 10:21 am to TimeOutdoors
quote:
Any of you dropping banks and gone 90-100% crypto?
Hell no
Posted on 2/15/22 at 10:25 am to TimeOutdoors
No, I’m not a fan of my net worth dropping 30% in one day because Elon Musk tweets a meme.
That being said, I do own some coins, but probably closer to 10% of my assets.
That being said, I do own some coins, but probably closer to 10% of my assets.
Posted on 2/15/22 at 10:25 am to TimeOutdoors
Posted on 2/15/22 at 10:27 am to TimeOutdoors
Biggly into crypto, but this would be a terrible mistake.
ETA
Please keep me updated if you take this strategy. Mainly for my viewing pleasure.
ETA
Please keep me updated if you take this strategy. Mainly for my viewing pleasure.
This post was edited on 2/15/22 at 10:29 am
Posted on 2/15/22 at 10:29 am to TimeOutdoors
Lol I need my banks to cash out
They can touch crypto just as easy as cash money
They can touch crypto just as easy as cash money
Posted on 2/15/22 at 10:33 am to LCA131
quote:
I'm waiting on my crypto check books to come in... Supply chain is slowing Harland down.
One of the exchanges called Voyager is supposed to be releasing a debit card soon where you can use your USDC balance while it earns 9% interest. So yeah, you technically will be able to spend your crypto at a retail store. Until the government clamps down on it that is
Posted on 2/15/22 at 10:36 am to efrad
quote:
Crypto is too volatile to be used as a store of value, and difficult to use for everyday transactions. It has its uses, but this isn't it.
That's where stable coins tied to regular currency come in. Transactions can be done in USDT which is tied to the dollar.
Posted on 2/15/22 at 10:42 am to TimeOutdoors
quote:
Anyone mostly crypto and dropping banks
Drug cartels seem to make it work
Posted on 2/15/22 at 10:47 am to UltimaParadox
quote:
Drug cartels seem to make it work
Ummmm they ran all their cash through Wachovia, Wamu and HSBC
Posted on 2/15/22 at 10:56 am to jimbeam
Posted on 2/15/22 at 11:07 am to TimeOutdoors
I think as the space continues to build out it will become an option for some people.
the past couple years many crypto traders have done 7 figure profits from low capital in.
the past couple years many crypto traders have done 7 figure profits from low capital in.
This post was edited on 2/15/22 at 11:09 am
Posted on 2/15/22 at 11:09 am to KamaCausey_LSU
quote:
Transactions can be done in USDT
If you thought the government was a scam you should do some research into USDT (Tether).
Talk about a house of cards
Posted on 2/15/22 at 11:10 am to kingbob
quote:
Good luck using your crypto when the government shuts down the points of exchange like Trudeau is doing to the truckers.
Granted, the government can also freeze your bank accounts. Nothing is safe in these inflationary times of tyranny.
I mean crypto isn’t the magic bullet but I fail to see how it isn’t the superior option in a dystopian landscape where the internet still exists if you want to make it harder for your funds to be seized or frozen
This post was edited on 2/15/22 at 11:11 am
Posted on 2/15/22 at 11:13 am to UltimaParadox
quote:
If you thought the government was a scam you should do some research into USDT (Tether). Talk about a house of cards
What year is it, 2018?Posted on 2/15/22 at 11:15 am to TigerTatorTots
quote:
What year is it, 2018?
You honestly believe tether is actually backed by real reserves?
They already admitted that they have less than 3% of their reserves in actual cash
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