For all the folks who thought you can get something for nothing....Crypto Crash Erases More Than $1 Trillion in Market Value
Bloomberg - Are you a robot?
Bloomberg - Are you a robot?
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Crypto-Currency Crash
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THE PILGRIM
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Quite a bit of my regular money has disappeared too.
Makes me happy. 
Sit tight. Think of the market as Arnold Schwarzenegger in the Terminator: "I'll be back."
Sit tight. Think of the market as Arnold Schwarzenegger in the Terminator: "I'll be back."
Panickers always bail at the wrong time. Selling on the way down and buying on the way up.
A friend was telling me how he bailed at 25,000 after the market went to 20,000. He thought he was a genius.
He never got back in as it went to 35,000+.
If you have a weak stomach, buy CD's.
I have some Lite Coin. It's down. You don't lose money unless you sell.
Supposedly a large portion of the sell off is due to hedge funds liquidating assets to delay the meme stock short squeeze. A couple of hedge funds have already gone bankrupt and others are near. Only gamble with what your willing to lose.
One of my favorite sayings I have used for about three decades talking about the stock market is. Its good to have a cast iron stomach.As far as internet money (Crypto type stuff) I know very little about it and old enough not to want to learn!
Cryptocurrency reminds me of reading about the Tulip Bulb Panic in Holland during the 1600's.
One fiat currency is enough. thank you.
One fiat currency is enough. thank you.
The large number of margin positions wiped out a lot of investors. If it seems to good to be true, it is.
This latest financial markets disaster drove thousands further into debt and reduced the number of folks in the middle class.
The big money agenda seems to be working.
This latest financial markets disaster drove thousands further into debt and reduced the number of folks in the middle class.
The big money agenda seems to be working.
I more or less understand technically what the crypto currency is trying to accomplish.
I don't understand why there is any value attached to it though. It's like saying 'I own the number 10'. Good for you. Why should I be willing to trade something of value for it? Yeah, you could say the same thing about any fiat currency, but at least it has the promise of a sovereign nation that (so far) has a history of paying its debts.
Strikes me as similar to the old mining company script which is only accepted at the company store. Would you speculate in that?
I don't understand why there is any value attached to it though. It's like saying 'I own the number 10'. Good for you. Why should I be willing to trade something of value for it? Yeah, you could say the same thing about any fiat currency, but at least it has the promise of a sovereign nation that (so far) has a history of paying its debts.
Strikes me as similar to the old mining company script which is only accepted at the company store. Would you speculate in that?
The Bitcoin specifically has traded on "limited supply." No more being "minted." That's great as long as suckers, er, investors are willing to chase it. When everybody goes for the exits simultaneously, it will be "interesting." Y'all go on ahead without me, I'll be here when you get back. Joe
I've read some about cryptos..but listen to smarter people than I who call them "an endless supply of nothing" and they say a lot of their "value" has come from one crypto buying another...so it's virtual value. If you can get out and convert to "real" money before the house burns down..great. However..timing is everything.
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Kind of like gold.....I mean gold is pretty and all and does have some limited commercial uses but it's value is pretty much dependent on what people think it's worth, and that's about all. Yet, it persists.
In that sense the Cryptos have the same sort of limited supply. Cryptos also have a much easier method of exchange and storage. While I'm skeptical I want to think there's probably good reason for it's proliferation.
Sure is volatile though.
Yep, to keep Uncle Stupid out of their "business." Joe
Huskerguy
Member
The introduction of Crypto currency was to just get you interested and accustomed to it. We would not have even considered it 20 years ago but now, it is common place. In the end, with the new CBDC, Central Bank Digital Currencies, everything will be digital and with all sorts of denominations from around the world.
Bottom line is kiss your cash stash goodbye.
Bottom line is kiss your cash stash goodbye.
I find the NFT thing — virtual objects that people buy and sell — baffling. Heard on the news some guy bought a virtual house for $450K.
I wish I'd know about Bitcoin in 2010. I would have sold it all off in 2017.
If I can't put it in my Crown Royal bag I'm not really interested.
