Official Cryptocurrency Thread

[umjewman]

I mean, I assume by now we are all seeing that crypto is pretty much a pyramid/Ponzi scheme, right? The most recent rash of fraudulent crytpo schemes only further reinforces this, imo.

Maybe, but SOME people get rich on pyramid/Ponzi schemes. And, I'M going to be one of them!

[Bene Futuis]

To me, that has been obvious from the start, which kept me out of it until I got buzzed the other night and dipped a toe in briefly. But huge fortunes have been made while my ethics has kept me on the sidelines. Blockchain has real utility and I do think it will continue to evolve to be a game changer, but yeah, it is still very much in the shady phase. The most infuriating thing to me about bitcoin specifically is the needless environmental impact built into it. Other coins have much, much smaller footprints, so even though they are shady, I don't really care much. People can speculate on tulips as long as it doesn't melt Antarctica.

It's actually not a Ponzi scheme, exactly. It's more like the era of "wildcat banking" in the 1800s. One guess how that turned out for the regular Joe.

[revo]

Sad!


The MAGA-themed “Let’s Go Brandon” Ethereum cryptocurrency has fallen on tough times.

So much so that the value of all 330 trillion coins totals just a few thousand dollars combined, according to the trading sites CoinMarketCap and Crypto, a far cry from the days of pro-Trump investors believing they could strike it rich in the ever-complex world of crypto.

That represents a 99.5 percent decline over the last 30 days, leaving a singular LGB coin effectively worthless.
https://www.thedailybeast.com/lets-g...-dumpster-fire

[DMT]

Sad!


The MAGA-themed “Let’s Go Brandon” Ethereum cryptocurrency has fallen on tough times.

So much so that the value of all 330 trillion coins totals just a few thousand dollars combined, according to the trading sites CoinMarketCap and Crypto, a far cry from the days of pro-Trump investors believing they could strike it rich in the ever-complex world of crypto.

That represents a 99.5 percent decline over the last 30 days, leaving a singular LGB coin effectively worthless.
https://www.thedailybeast.com/lets-g...-dumpster-fire

Going broke to own the Libs.

[Bene Futuis]

Putin was attempting to use cryptocurrency to bypass sanctions but the US just shut down a bunch of crytpo networks he was using, according to FBI Chief. Elizabeth Warren just proposed a bill that would essentially force crytpo companies to choose between doing business with the US or with sanctioned companies and would impose secondary sanctions on foreign crytpo exchanges who deal with rogue nations like Russia. Other rogue countries like North Korea have been using crytpocurrency to sidestep sanctions for years now.

Winds of change a blowin' regarding the wild, wild west of crytpocurrency.

[revo]

Terracoin, a crypto pegged to the $1.00 mark and used as a de facto “money market fund,” plunged this week to under $0.50, causing all investors to lose half their money and destabilizing the entire crypto market.

Other cryptos are down 20-40% this week alone, and some are down 75%-90% in the last 3 months.

[Ken]

You mean TERRAUSD not Terracoin right? Terracoin is priced at $0.017715 today

(that's not confusing or anything)

[revo]

You mean TERRAUSD not Terracoin right? Terracoin is priced at $0.017715 today

(that's not confusing or anything)

Yes, sorry, Terra.