Fixed that for ya.
Only for people who can’t read histograms correctly.
BTC is vaporware, like the ultimate pyramid scam. The newbies pay up to the original buyers, forever and ever.
I maid vis four u.
You left out Bitcoins.
The upper limit (21M) on mining is going to create an interesting event, but we’ll both be dead (first and third graph)
The second graph here are in relation to all the lost/missing/stolen Bitcoins out there…3-4M of them.
Not to mention if Dr. Wright has 300-900K of them…fuck me, I should at least have invited him to lunch.
Why should such a thing be valuable? Or have value?
A friends son was asking my advise about Crypto the other day as his dad told him I was “into” it.
I told him not to use any money he can not afford to lose because its a fragile game and could go to shit at any moment BUT if you have a sensible approach you can make money as I have.
If you go fishing for spikes everyday you are just as likely to spike down as you are to spike up.
Choose the coin you believe in long term whatever that is and then trade against it to build up your holding and ignore the $/£ value as this will only be relevant in a few years when you want to take it out.
Im sure some pros our there have charts and amazing strategies to go to the moon but I like slowly but surely.
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Because of shared delusion that it has value. As long as that delusion exists, people will trade, mine, etc. But, the current setup with Bitcoin, at least, is that it’s a limited supply. And, as Rabbit mentioned already, people “lose,” their wallets. So, it’s a race to zero. It has no intrinsic value, and someday, the supply will be exhausted.
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I dont think it will even get that far.
Its fragile and there are perhaps 100s of thousands of people currently working on how to cheat and or defeat it.
The wise man keeps the bulk of his crypto in a place where it can be converted to fiat currency in seconds but even that may not be enough when the cards start to fall.
In that I am refering to Bitcoin specifically , some of the other coins like XRP might be more robust im not sure.
I listen to Max Keiser who has been incredibly accurate with regards to bitcoin over the years compared to most internet Bitcoiners BUT i still think he is living in a fantasy world thinking that Bitcoin will replace fiat.
Until Mr President from the Nation of Bitcoin announces hypersonic nuclear weapons pointed at everyone it isnt replacing shit other than other high risk high return investments which could also go down the shitter at anytime.
Think of the blockchain as a permanent, (virtually) unhackable ledger system in which each entry is recorded and added to the chain. Anything from medical records, to supply inventory, to voting can be used in a blockchain; even potentially the Internet itself.
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This story is one of the saddest.
This dude lost the password for his 7,000 Bitcoins, valued at $220M back in January when this was written…hovering around 35K per coin at the time, now at 55K because Elon Musk is fucking insane.
Rule of thumb, don’t put your bitcoins in anything that will autoerase after unsuccessful password attempts…Availability matters.
Stefan Thomas, a German-born programmer living in San Francisco, has two guesses left to figure out a password that is worth, as of this week, about $220 million.
Cry me a river…
The “Bitcoin is worthless/it’s a bubble/etc.” thing has been the chorus for 10 years now.
Meanwhile, the ultra-elite are buying in like gangbusters, so there’s a discrepancy between where people’s mouths are, and where they’re putting their money.
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So how does one get started in Crypto investing? That’s what I would love to hear about.
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The absolute easiest way is to open an account on Coinbase. Here’s a shameless affiliate link to that:
https://coinbase.com/join/fletch_jj
But before you put any serious money into it, read everything you can from multiple sources, and keep in mind that mainstream media outlets are usually hours or days behind the curve, which makes sifting good info from noise even more difficult.
Also there are a lot of pitfalls to watch out for, like pump and dumps. Beware of any and all hype.
Crypto is just another way for rich people to dodge taxes.
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Nah, the IRS has a handle on this now. That’s why major exchanges either created US-dedicated apps or backed out of the US entirely.
Binance is the perfect example; I still have over a grand stuck in their exchange.
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Narrator: " The IRS did not have a handle on this now."
And, like that (poof) he’s gone.
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