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It’s going to be hillarious when these crypto exchanges mysteriously shut down

Posted on 1/7/18 at 7:02 am
Posted by TheWalrus
Member since Dec 2012
40381 posts
Posted on 1/7/18 at 7:02 am
Bitcoin was one thing because it legitimately had some value and could be exchanged for goods and services. But all these random arse cryptocurrencies that are rising value on nothing more than a name are a joke. Everyone and their mom has their own crypto that isn’t worth the text on the computer screen.

The end game is so obvious. You suckers pour in thousands of dollars to these exchanges. They legitimately pay out in US dollars for a while to reel in more fish. One day, they decide they have enough and they mysteriously shut down with all your money vanishing into thin air.

Who is going to ensure you actually get your money back like the government did after they shut down the poker sites? No one, the regulation is virtually non-existent.

These crypto-exchange people are going to frick all you losers so hard and the rest of us are going to laugh our arse off when your theoretical gains eventually stop being realized as the US dollars you send to these exchanges are pocketed by the exchanges. Get out while you can. Ride the early wave of suckers and before the exchanges put their end game into fruition.

But use some fricking logic. Hundreds of different fairy currencies aren’t going to have legitimate value. The end scam isn’t a loss of currency value, it’s when Boris and Dimitri in Russia or “Brian and Fred” in San Francisco decide they’ve had enough and their exchange goes offline and you don’t stand a prayer in hell of ever seeing that real money again.
Hahahaha
Posted by MrSpock
Member since Sep 2015
4322 posts
Posted on 1/7/18 at 7:06 am to
quote:

The end game is so obvious. You suckers pour in thousands of dollars to these exchanges. They legitimately pay out in US dollars for a while to reel in more fish. One day, they decide they have enough and they mysteriously shut down with all your money vanishing into thin air.


Maybe but having a shitton of coins without exchanges to sell them to people would make them worthless.

Use your head dumb dumb.


Posted by LSUcam7
FL
Member since Sep 2016
7900 posts
Posted on 1/7/18 at 7:12 am to
I don’t know when it’s going to happen... but something will intervene the charts of these cryptos at some point, and it’s gonna be ugly.

However I do believe more money will be “made” before it’s lost.
Posted by rocket31
Member since Jan 2008
41819 posts
Posted on 1/7/18 at 7:13 am to
Posted by GEAUXT
Member since Nov 2007
29210 posts
Posted on 1/7/18 at 7:18 am to
I agree it is probably going to implode at some point. I only have a couple thousand in the game. My plan is to pull out at the end of 2018. If I make some money, cool. If I lose it, sucks but I'm not wiped out.

Posted by Gr8t8s
Member since Oct 2009
2579 posts
Posted on 1/7/18 at 7:19 am to
Somebody’s mad they didn’t make any crypto money. Post reeks of ignorance.

Many people hold their money in hardware wallets or away from exchanges using other wallet forms. Worst case scenario, you can transfer your profits to Ether or BTC and send it to Coinbase.
Posted by robertLSU
Florida
Member since Jan 2013
429 posts
Posted on 1/7/18 at 7:21 am to
This is why old people should be restricted to a read only version of the internet
This post was edited on 1/7/18 at 7:35 am
Posted by MrSpock
Member since Sep 2015
4322 posts
Posted on 1/7/18 at 7:30 am to
quote:

It’s going to be hillarious when these crypto exchanges mysteriously shut down


I'm sure the people that invested billions in "legitimate" investments felt the same after Enron, Madoff, the Housing Crash, the tech bubble, Tyco International, World Com, Lehman Brothers, Health South, Qwest Communications etc.

Posted by bayoubengals88
LA
Member since Sep 2007
18882 posts
Posted on 1/7/18 at 7:31 am to
quote:

This is why old people should be restricted to a read only version of the internet.
Early nomination for Post of the Year.
Posted by Ron Cheramie
The Cajun Hedgehog
Member since Aug 2016
5132 posts
Posted on 1/7/18 at 8:37 am to
LINK /

Dudes up at 2 in the morning worried about $20
Posted by 13SaintTiger
Isle of Capri
Member since Sep 2011
18315 posts
Posted on 1/7/18 at 8:42 am to
Just lol
This post was edited on 1/7/18 at 8:44 am
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
25455 posts
Posted on 1/7/18 at 8:46 am to
quote:

Many people hold their money in hardware wallets or away from exchanges using other wallet forms. Worst case scenario, you can transfer your profits to Ether or BTC and send it to Coinbase.


OPs post is completely dumbass, but is his premise not a real concern? I have a little in some of the bigger cryptos, but all these small ones I do have some concern that they may just "go away." After all, this is still kind of the Wild West. To he fair, I wouldn't consider myself anything near a crypto expert so educate me if I'm wrong.
Posted by tduecen
Member since Nov 2006
161244 posts
Posted on 1/7/18 at 8:48 am to
Anyone in this understands that half of these currencies won't be around next year. Just like the stock market, shite doesn't take off and it goes by the wayside.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
25455 posts
Posted on 1/7/18 at 8:50 am to
quote:

Anyone in this understands that half of these currencies won't be around next year. Just like the stock market, shite doesn't take off and it goes by the wayside.


I'm talking about the ones that are currently a cent or whatever and go up to a half dollar and then just disappear. Like Ripple or FunFair, do I think that'll happen, probably not but it's a concern I would think.
Posted by tduecen
Member since Nov 2006
161244 posts
Posted on 1/7/18 at 8:51 am to
They won't "disappear" but they will eventually go dead and lose all value.
Posted by rocket31
Member since Jan 2008
41819 posts
Posted on 1/7/18 at 8:57 am to
i mean, its a bubble but what isnt a bubble these days? regardless its not anywhere to close to popping which was what weve been trying to tell these dildos for nearly a year now.

we don't even have finely tuned exchanges to allow an easy flow of fiat money into the market or institutional money or skeptical sideline money or the computer illiterate baby boomer money

growth is still 3-5x before i even get concerned

get in now or cry later like OP because he lost $20, lol

Posted by LZ83
La
Member since Sep 2016
17406 posts
Posted on 1/7/18 at 8:58 am to
Rocket, i sold my TRX for a profit any recs?
Posted by rocket31
Member since Jan 2008
41819 posts
Posted on 1/7/18 at 9:01 am to
i think both XLM and ICX are good plays this month
Posted by LZ83
La
Member since Sep 2016
17406 posts
Posted on 1/7/18 at 9:02 am to
Prob do xlm. I can get more shares. Was thinking FUN but I know xlm is further along
Posted by castorinho
13623 posts
Member since Nov 2010
82010 posts
Posted on 1/7/18 at 9:05 am to
quote:

They legitimately pay out in US dollars for a while to reel in more fish.
But they don't
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