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"I lost money on cryptocurrency" thread

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  • Oct 1st, 2019 6:01 am
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brunes wrote:
Mar 11th, 2018 8:21 pm
I don't even know how to reply to this.

Do you have any idea what a stock even is, or how markets work in general?

Do you have any clue how centralized the control of crypto markets in general are ? The very nature of BTC means it will ALWAYS have high volatility, low liquidity, and centralized control.

"Investing" in BTC (and most other crypto) is no better or worse than "investing" in BlackJack at the local casino. The odds are about the same of you profiting long term. Yes you can make big profit, but the risk is huge - just like playing BlackJack.

There is a reason all these paper-millionaires and paper-billionaires in BTC are not cashing out - THEY CAN'T. The market is not liquid enough to cash out!
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brunes wrote:
Mar 11th, 2018 8:21 pm
I don't even know how to reply to this.

Do you have any idea what a stock even is, or how markets work in general?

Do you have any clue how centralized the control of crypto markets in general are ? The very nature of BTC means it will ALWAYS have high volatility, low liquidity, and centralized control.

"Investing" in BTC (and most other crypto) is no better or worse than "investing" in BlackJack at the local casino. The odds are about the same of you profiting long term. Yes you can make big profit, but the risk is huge - just like playing BlackJack.

There is a reason all these paper-millionaires and paper-billionaires in BTC are not cashing out - THEY CAN'T. The market is not liquid enough to cash out!
You do realize that BTC is just the BEGINNING of all this tech right?.

Eventually, assets WILL be tokenized. (ie. Gold, Silver, Real State, USD).

Once the scaling issue gets fixed I mean its pretty much a done deal. That is like humans learning what numbers are. They will learn how to count, add, subtract, multiply etc.

Why do you think Circle bought Poloniex?. Millenials and the younger generation are just not interested in that rigged traditional stock market controlled by boomers. We are not going prop up that value so old folks can have a fatter retirement cheque.

Call it gambling or ponzi. We heard it all. We dont care about labels. At the end of the day, we understand the tech and you dont.

Just the fact that you automatically count bitcoin out because of its volatility shows the lack of information on your end. The hashing power is the most important thing with bitcoin not the "currency".
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I know a lot of intelligent millenials who wouldn't appreciate an extremist speaking in behalf of an entire generation.

Most millennials are too smart to throw good money after bad. Most millennials are smart enough to recognize a manipulated market in a bubble.

Anyhoo, keep hodling and doubling down. Its a great look for you.
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thewisedecision wrote:
Mar 11th, 2018 5:23 pm
Jan 20th is when you made that post pushing those shitcoins as a great buy genius. Solid backpedal.
I see, and you misconstrued my comments to mean that these tokens would increase in value perpetually, and the market will never correct. Got it.

How about we revisit this thread in 3 months.
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I am really enjoying how the critics have come out of the woodwork now that the market is in correction. Their bravery so evident when the fruit is nice and low for picking.
brunes wrote:
Mar 11th, 2018 8:21 pm
I don't even know how to reply to this.

Do you have any idea what a stock even is, or how markets work in general?

Do you have any clue how centralized the control of crypto markets in general are ? The very nature of BTC means it will ALWAYS have high volatility, low liquidity, and centralized control.

"Investing" in BTC (and most other crypto) is no better or worse than "investing" in BlackJack at the local casino. The odds are about the same of you profiting long term. Yes you can make big profit, but the risk is huge - just like playing BlackJack.

There is a reason all these paper-millionaires and paper-billionaires in BTC are not cashing out - THEY CAN'T. The market is not liquid enough to cash out!
Actually after using IDEX for the last month, and seeing the progress Kyber Network has made, the future for decentralized exchanges is looking very bright. They are getting really smooth, frictionless and cheap. Bitcoin is just the tip of the iceberg. It's something we are clutching on to (for now), like a kid latched on to the side of a swimming pool. As for your odds, I'm very curious where you pulled that. Why compare buying a bitcoin to playing blackjack, when the closer analogy would be buying a stock, or buying a bar of gold? Blackjack hands don't increase and decrease in value over time.
In a perfect system, corporations would fear the government and the government would fear the people. - David Wong

Check out caRpetbomBer's picks in this thread.
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Mar 1, 2011
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Syne wrote:
Mar 13th, 2018 6:40 am
I see, and you misconstrued my comments to mean that these tokens would increase in value perpetually, and the market will never correct. Got it.

How about we revisit this thread in 3 months.
Wasn't much to misconstrue. You literally said, pretty hard to lose money in crypto, then proceeded to post your picks which have since lost 60+% of their value.

Let's revisit in three months. But in order to do so you have to disclose what you're doing today. Still holding those chitcoins?

0 crypto for me. The entire markets dependence on btc, the looming tether issue, the unregulated p&d markets, exchange hacks, bs press releases etc. Its a Mickey mouse market with little legitimacy.
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officerjimlahey31 wrote:
Mar 12th, 2018 9:45 pm
I know a lot of intelligent millenials who wouldn't appreciate an extremist speaking in behalf of an entire generation.

Most millennials are too smart to throw good money after bad. Most millennials are smart enough to recognize a manipulated market in a bubble.

Anyhoo, keep hodling and doubling down. Its a great look for you.
Stock market is a bubble too. US housing market was just in a bubble. Our housing market is in a bubble.

LOL.
Most millennials are too smart to throw good money after bad
Why did Circle by Poloniex?. Ever heard of the facebook twins?. Tim Draper?. Mike Novogratz?. Mark Cuban?. I guess they are all stupid too huh?. Let me guess they are all fooling us?.

Its coming whether you guys like it or not. The demand for an alternative market is very strong and it wont go away. The tech will get us there and it is moving very fast. No boomer or government can stop this.

Millenials will have more voting and buying power as time goes on.
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I don't think anyone will be man enough to admit losing thousands on BTC on RFD.

Reddit has better sob appeal.
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kevindurant1 wrote:
Mar 13th, 2018 5:46 pm
Stock market is a bubble too. US housing market was just in a bubble. Our housing market is in a bubble.

LOL.
Thats fine. So there are other bubbles out there. None are as volatile and will pop as violently as the crypto bubble. And it hasn't popped yet.
kevindurant1 wrote:
Mar 13th, 2018 5:46 pm
Why did Circle by Poloniex?. Ever heard of the facebook twins?. Tim Draper?. Mike Novogratz?. Mark Cuban?. I guess they are all stupid too huh?. Let me guess they are all fooling us?.
Yes, all of these characters that bought when it was in the hundreds of dollars. I know you get offended by the terms ponzi/pyramid but these coins behave exactly like a pyramid scheme. Get in early and reap the benefits. These guys aren't buying at these prices. They're telling others to buy. And most of them have created livelihoods from the crypto markets. Bert and Ernie own Gemini. Novogratz has a hedge fund. Cuban is merely speculating with play money.

Don't forget the other notable investors like John McAfee, Charlie Schrem, Ross Ulbricht, Mark Karpeles, Brock Pierce, Giancarlo Devasini, etc. All great role models.

Circle bought poloniex likely because poloniex is a very profitable exchange. You ever heard about people getting rich selling shovels in a gold rush? Thats what exchanges are. Shovels. Not gold.

kevindurant1 wrote:
Mar 13th, 2018 5:46 pm
Its coming whether you guys like it or not. The demand for an alternative market is very strong and it wont go away. The tech will get us there and it is moving very fast. No boomer or government can stop this.
You seem to want to make this an "us against them" type of thing, as if boomers aren't allowed to invest in crypto. This market is garbage. Its fake. Its manipulated to hell and there is no transparency. It will never have legitimacy until there is transparency and regulations. Until then, we will never see true value. You may be right, there may be some future to the tech, but not in this current version. The only demand on this current market is for speculating on value.
kevindurant1 wrote:
Mar 13th, 2018 5:46 pm
Millenials will have more voting and buying power as time goes on.
Not if they keep investing in the current version of crypto they wont.
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alanbrenton wrote:
Mar 14th, 2018 9:23 am
I don't think anyone will be man enough to admit losing thousands on BTC on RFD.

Reddit has better sob appeal.
Don't lose until you sell. HODL!
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officerjimlahey31 wrote:
Mar 14th, 2018 10:37 am
Don't lose until you sell. HODL!
people are realizing after all the explanation and expose in the media that if these aren't shillcoins, they are shitcoins, really only good for speculation with no inherent value.

to anyone who argues otherwise is just BSing big time.

I don't mind dabbling with this in the future when trades are easier, but definitely only for speculation, like on penny stocks that suddenly go up because someone wants to bid up his net worth after accumulating over time.
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alanbrenton wrote:
Mar 14th, 2018 10:47 am
people are realizing after all the explanation and expose in the media that if these aren't shillcoins, they are shitcoins, really only good for speculation with no inherent value.

to anyone who argues otherwise is just BSing big time.

I don't mind dabbling with this in the future when trades are easier, but definitely only for speculation, like on penny stocks that suddenly go up because someone wants to bid up his net worth after accumulating over time.
It seems like such a big hasstle to buy, if you want fun with play money just go to casino.
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Jungle wrote:
Mar 14th, 2018 1:16 pm
It seems like such a big hasstle to buy, if you want fun with play money just go to casino.
I think square will allow to buy and sell. I still prefer a longer time horizon when gambling, even if it the final analysis these coins will likely be worth zero.
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Jungle wrote:
Mar 14th, 2018 1:16 pm
It seems like such a big hasstle to buy, if you want fun with play money just go to casino.
It is but that's what keeps the common person away and prevented them from getting in early.
Once everything is easy like buying stock at TD then the bubble can fully burst.

Houses in Toronto are 3x overpriced but as long as someone is willing to pay for it then that's the price.


US is using cryptos to fund Sports Betting accounts, this in itself will prevent it from ever going to Zero.
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KingKuba wrote:
Mar 14th, 2018 2:17 pm
It is but that's what keeps the common person away and prevented them from getting in early.
Once everything is easy like buying stock at TD then the bubble can fully burst.

Houses in Toronto are 3x overpriced but as long as someone is willing to pay for it then that's the price.


US is using cryptos to fund Sports Betting accounts, this in itself will prevent it from ever going to Zero.
For your last statement, I think there is faulty logic there. Just because cryptos are used to fund sports betting accounts, it doesn't mean cryptos are not going to zero.

I'm sure in Zimbabwe, their local currency is used for sports betting accounts too and after hyper inflation and devaluation, what happened?

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