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nervewrecker wrote:nun about the massive drop in value as of late?
neilsingh100 wrote:Interesting read...
Cryptocurrency Is a Giant Ponzi Scheme
https://jacobinmag.com/2022/01/cryptocu ... ralization
These people have a vested interest in making sure that central banks retain relevance. Crypto is a legit threat to their control so the fear mongering is inevitable. The good old "crypto is based on nothing" argument appeals to people's ignorance. It is quite entertaining to watch them squirm.bluefete wrote:Central bank Governor said:
Central Bank welcomes innovation but crypto is based on almost nothing.
It is by itself. it is fabricated out of thin air. The value could fluctuate widely and people could lose their shirts trading in crypto. They go to Central bank for help.
WAIT - Isn't this like investing in stocks? Just asking.
SEC Acting CEO agreed with Central bank governor.
She said enhanced level of reporting need for crypto.
bluefete wrote:Central bank Governor said:
Central Bank welcomes innovation but crypto is based on almost nothing.
It is by itself. it is fabricated out of thin air. The value could fluctuate widely and people could lose their shirts trading in crypto. They go to Central bank for help.
WAIT - Isn't this like investing in stocks? Just asking.
SEC Acting CEO agreed with Central bank govqernor.
She said enhanced level of reporting need for crypto.
Stocks represent ownership in actual companies. If you're a risk adverse investor you can choose to only invest in blue chip companies; I.e. those with strong and tested business models that have been around for a long time, eg Coca-Cola, Disney etc. Intrinsic value refers to the value of the company based on the forecast of future cash flows from dividends.bluefete wrote:Central bank Governor said:
Central Bank welcomes innovation but crypto is based on almost nothing.
It is by itself. it is fabricated out of thin air. The value could fluctuate widely and people could lose their shirts trading in crypto. They go to Central bank for help.
WAIT - Isn't this like investing in stocks? Just asking.
SEC Acting CEO agreed with Central bank governor.
She said enhanced level of reporting need for crypto.
maj. tom wrote:Once upon a time in a village, a man appeared and announced to the villagers that he would buy monkeys for $10 each.
The villagers, seeing that there were many monkeys around, went out to the forest and started catching them.
The man bought thousands at $10 and as supply started to diminish, the villagers stopped their effort. He further announced that he would now buy at $20. This renewed the efforts of the villagers and they started catching monkeys again.
Soon the supply diminished even further and people started going back to their farms. The offer increased to $25 each and the supply of monkeys became so little that it was an effort to even see a monkey, let alone catch it!
The man now announced that he would buy monkeys at $50! However, since he had to go to the city on some business, his assistant would now buy on behalf of him.
In the absence of the man, the assistant told the villagers; "Look at all these monkeys in the big cage that the man has collected. I will sell them to you at $35 and when the man returns from the city, you can sell them to him for $50 each."
The villagers rounded up with all their savings and bought all the monkeys.
They never saw the man nor his assistant, only monkeys everywhere!
Now you have a better understanding of how the cryptocurrency market works. Cryptocurrency is still largely unregulated bullsheit. There are 99% of people who don't understand that it's a scam and it's mostly used by scammers and schemers. It is unchecked and unregulated so there is a lot of illegal activity associated with cryptocurrency, not to mention the entirely unethical get rich quick schemes of mining and energy consumption and using much computing resources with no returns of productivity to the society and then everything you mined is half-valued every four years. The most useful part of cryptocurrency is the generated unique blockchain to show a transaction's worth, just like NFTs, which by the way is also an unregulated scam that most people do not understand.
Captain Awesome wrote:The growth of crypto and the central bank severely limiting the availability of forex will drive local adoption of crypto at a faster than normal pace. These dinosaurs won't know what hit them until it is too late.
Not viable unless state subsidize cost of power and by extension nat gas that T&TEC pays NGCbluefete wrote:The PNM Master (ANSA Mc AL) has spoken!
Trade Ministry looking at possibility of cryptocurrency sector
by
7 hours ago
Thu Apr 28 2022
https://www.guardian.co.tt/business/tra ... hWjTOoc_88
USA will not be pleased.bluefete wrote:The PNM Master (ANSA Mc AL) has spoken!
Trade Ministry looking at possibility of cryptocurrency sector
by
7 hours ago
Thu Apr 28 2022
https://www.guardian.co.tt/business/tra ... hWjTOoc_88
zoom rader wrote:USA will not be pleased.bluefete wrote:The PNM Master (ANSA Mc AL) has spoken!
Trade Ministry looking at possibility of cryptocurrency sector
by
7 hours ago
Thu Apr 28 2022
https://www.guardian.co.tt/business/tra ... hWjTOoc_88
neilsingh100 wrote:Not viable unless state subsidize cost of power and by extension nat gas that T&TEC pays NGCbluefete wrote:The PNM Master (ANSA Mc AL) has spoken!
Trade Ministry looking at possibility of cryptocurrency sector
by
7 hours ago
Thu Apr 28 2022
https://www.guardian.co.tt/business/tra ... hWjTOoc_88
teems1 wrote:LUNA down 99.6%
It was 116US early April, now it's less than 2 cents.
Wow. How people don't see these as a scam is beyond me.
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