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On 7/11/2022 at 12:33 PM, JJkizak said:

How do you regulate something that no one understands?

JJK

That is not completely true, but very close. Most of the people don't understand crypto and those who do understand make tons of cash with it. Friend of mine purchased a crypto license from uab lithuabia two years and now he is enjoying a good life somewhere in Caribbean.

Edited by TommyBond
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Everyone has  a different tolerance for risk , so  crypto may look attractive to those comfortable buying  high risk assets . Unfortunately many crypto investors don’t really understand the risk and volatility of there investment and they may inadvertently  put there life savings / retirement savings on the line . Many of these people have only seen crypto increase in value , they haven’t seen a down cycle, not until now . Down markets can provide  great learning opportunities , they have allowed me to become a wiser investor. Crypto may make sense for some of the nimble and knowledgeable, but others should be very careful with their hard earned money.

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The ability for crypto to store financial energy reliably, has certainly been put into question recently , this is because of its almost  pure speculative nature , and the fear of holding  risky assets during times of possible recession and economic uncertainty.

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1 hour ago, Jeff Matthews said:

At least proponents agree that it has value because people ascribe value to it.  The same argument is s made concerning gold.

 

So, the real question is which asset is more likely to suffer loss of faith?

Gold does have some practical uses, plus decorative uses.  Comparing the two, which would you think?

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'I also think the macro turn is very close too. Have bond yields topped? Probably.

Returns since the panic 3AC liquidation less than two months ago:

BTC +24%
ETH +71%
SOL +64%
AVAX +77%
MATIC +200%
DOT +26%
AAVE +116%
UNISWAP +131%
XRP +29%'

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  • 1 month later...
On 7/14/2022 at 4:57 AM, Jeff Matthews said:

At least proponents agree that it has value because people ascribe value to it.  The same argument is s made concerning gold.

 

So, the real question is which asset is more likely to suffer loss of faith?

A loss of faith would vary by culture, I think. Gold is more greatly admired/appreciated in India and Asia than in North America.

 

Being physical, it is attractive in dowries, generational inheritance, and high-density "emergency value". 

 

I suspect the bullion value today would be a great deal higher if the "paper gold" derivitive markets were properly policed, or better yet, eliminated.

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  • 2 months later...

The creators' intent was to decentralize control over the currency (or rather, provide an alternative centralization) to achieve greater stability than the governments' fiat money.  Crypto has proven to be anything other than stable.

 

Also, what's the deal with FTX?  I understand Sam Bankman-Fried speculated with his depositors' coin and that many depositors are holding empty bags, but why does this result in the value of the coin plummeting?  If the same thing happened with US currency, a dollar would still be worth a dollar, and people would want it just as much.

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2 hours ago, Jeff Matthews said:

 but why does this result in the value of the coin plummeting?  If the same thing happened with US currency, a dollar would still be worth a dollar, and people would want it just as much.

— because a US dollar IS a dollar, respected currency the world over. Few people know what a crypto coin really is or it’s intrinsic value. I certainly don’t nor do I pretend to - 

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  • 2 weeks later...
43 minutes ago, akers983 said:

I try to understand crypto and even buy some courses. But i still can't get it.

 

I tell people that it's no different from a boat (a large hole in the water you throw money into). Similar results 🙂

 

Another way I look at crypto is "an attempt at private (as opposed to government) currency". Trust the "private" part of this at your own risk.

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