- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Cryptocurrency is akin to abstract art, a modern day ponzi scheme
Posted on 11/21/22 at 7:22 am
Posted on 11/21/22 at 7:22 am
You talk to people who "know" about cryptocurrency and they are so smug, their hubris is quite annoying, and you are just an ignorant individual who doesnt understand the paradigm shift in money.
This "currency" is supposed to be that, certainly not a hedge fund, and worse a honeypot for some hipster to spend....as long as the fools at the bottom continue to invesst.
There is a reason they call it crypt.....
This "currency" is supposed to be that, certainly not a hedge fund, and worse a honeypot for some hipster to spend....as long as the fools at the bottom continue to invesst.
There is a reason they call it crypt.....
17
Posted on 11/21/22 at 7:27 am to trinidadtiger
Tell us you don’t know the difference between cryptocurrency and a cryptocurrency exchange without telling us you don’t know the difference between cryptocurrency and a cryptocurrency exchange.
Posted on 11/21/22 at 7:27 am to trinidadtiger
If you dig into it all. The entire financial world is run on a myriad of dishonest schemes.
This post was edited on 11/21/22 at 7:28 am
Posted on 11/21/22 at 7:31 am to trinidadtiger
Depends on the crypto.
There have been many Ponzi schemes using fiat but you still have faith in fiat.
There have been many Ponzi schemes using fiat but you still have faith in fiat.
Posted on 11/21/22 at 7:33 am to Gifman
quote:
The entire financial world is run on a myriad of dishonest schemes.
The foundation of the fiat Ponzi is the military. That’s why it works.
Posted on 11/21/22 at 7:35 am to trinidadtiger
Cryptocurrency is riddled with Ponzi schemes. Cryptocurrency is not in and of itself a Ponzi scheme. Yes it is an unregulated wild west of finance; however, the main staple coins are legitimate.
Posted on 11/21/22 at 7:36 am to Midget Death Squad
quote:
Cryptocurrency is riddled with Ponzi schemes. Cryptocurrency is not in and of itself a Ponzi scheme. Yes it is an unregulated wild west of finance; however, the main staple coins are legitimate.
Succinct summary.
Posted on 11/21/22 at 7:51 am to trinidadtiger
Crypto would not be here, if it weren't for the internet and social media....it is a pump/dump fake stock market....it has ZERO VALUE....all coins!
Posted on 11/21/22 at 7:53 am to Jack Bauers HnK
quote:
Tell us you don’t know the difference between cryptocurrency and a cryptocurrency exchange without telling us you don’t know the difference between cryptocurrency and a cryptocurrency exchange.
The exchange deals in cantaloupes...or is it cryptononsense?
Posted on 11/21/22 at 7:54 am to Jack Bauers HnK
So your going to enlighten us then on how a made up currency with no collective collateral such as gold or say a nations credit is supposedly to hold up long term? Let’s just say for your sake that all currency is crypto, what does someone use when electric grid goes down in California ? How about national disasters around the world? Let’s say a sunspot takes out total grids? Now let’s do the most likely scenario that all crypto is a Ponzi?
Posted on 11/21/22 at 8:02 am to trinidadtiger
quote:Cryptocurrency refers to the cryptography used to secure the blockchain networks and coins/tokens that reside on these blockchain networks. Most notably the SHA-256 Cryptographic Hash Algorithm.
There is a reason they call it crypt....
If you're intellectually curious at all, you'll find that the latest FTX fraud and failure is an exchange-related fraud. This has been an issue since the first large exchange-related fraud took place at Mt. Gox in 2014. Suffice it to say it's a systemic issue in the segment, but not unprecedented. BTW, FTX didn't own one solitary Bitcoin (IDK about ETH but probably didn't own any either). This was an example of a self-produced shitcoin on steroids.
*this is my smug face*
Posted on 11/21/22 at 8:13 am to alpinetiger
quote:
Cryptocurrency refers to the cryptography used to secure the blockchain networks and coins/tokens that reside on these blockchain networks. Most notably the SHA-256 Cryptographic Hash Algorithm.
If you're intellectually curious at all, you'll find that the latest FTX fraud and failure is an exchange-related fraud. This has been an issue since the first large exchange-related fraud took place at Mt. Gox in 2014. Suffice it to say it's a systemic issue in the segment, but not unprecedented. BTW, FTX didn't own one solitary Bitcoin (IDK about ETH but probably didn't own any either). This was an example of a self-produced shitcoin on steroids.
*this is my smug face*
bro wasting your time
quicker yall come to the conclusion that crypto doenst fit many on here world view and they dont understand it nor make any attempt to understand the better off yall will be.
Posted on 11/21/22 at 8:18 am to lsu777
quote:
quicker yall come to the conclusion that crypto doenst fit many on here world view and they dont understand it nor make any attempt to understand the better off yall will be.
Most of the arguments seem to be "this is something new and I don't understand so I hate it".
Y'all are gonna be wanting it the day comes when your debit card is declined due to wrong think.
Posted on 11/21/22 at 8:19 am to trinidadtiger
It's like Dutch tulips.
Posted on 11/21/22 at 8:20 am to Gifman
quote:
If you dig into it all. The entire financial world is run on a myriad of dishonest schemes.
This.
You got to know when to hold them.
Know when to fold them.
Know when to walk away and know when to run.
Posted on 11/21/22 at 8:21 am to trinidadtiger
I'm skeptical that crypto effectively solves any problems, and I'm skeptical that the problems are in need of solutions.
The only value I ever personally saw in crypto was back in the Silk Road days but crypto turned out not to be an effective solution to the black market currency problem IMO and on a societal level I don't know that solving that problem is beneficial anyway.
The only value I ever personally saw in crypto was back in the Silk Road days but crypto turned out not to be an effective solution to the black market currency problem IMO and on a societal level I don't know that solving that problem is beneficial anyway.
Posted on 11/21/22 at 8:24 am to trinidadtiger
quote:
Cryptocurrency is akin to abstract art, a modern day ponzi scheme
Wait until you hear about the US Dollar...
Posted on 11/21/22 at 8:32 am to trinidadtiger
So many in the BitCoin world approach it with religious zeal. I've heard people express the sentiment that BitCoin has the potential to save humanity.
They sort of remind me of Tom Cruise when he gets on his soapbox about Scientology.
They sort of remind me of Tom Cruise when he gets on his soapbox about Scientology.
Posted on 11/21/22 at 8:35 am to MrSpock
quote:
Wait until you hear about the US Dollar...
Been that way since 1971.
Posted on 11/21/22 at 8:40 am to Nosevens
quote:How does this differ from your fiat currency? That money you "own" in the bank could be gone. Sure, the government insures it... but if one bank goes down, how stable with the others be? If Chase locks down its website and closes all its branches because everyone is trying to withdraw all their funds, what do you think Citi will do? And so Sleepy Joe writes you a check for your money that you get after 18 months of congressional hearings... where do you cash it? Or maybe he drops a bag full of cash, where do you spend it? How much would a bag of money helped in "The Walking Dead"?
So your going to enlighten us then on how a made up currency with no collective collateral such as gold or say a nations credit is supposedly to hold up long term? Let’s just say for your sake that all currency is crypto, what does someone use when electric grid goes down in California ? How about national disasters around the world? Let’s say a sunspot takes out total grids? Now let’s do the most likely scenario that all crypto is a Ponzi?
It's all a show - fiat, crypto - the value is the faith in the medium, not the medium.
Page 1 of 2
Back to top
Follow TigerDroppings for LSU Football News