The world's second largest cryptocurrency Ethereum has joined the crash - plummeting in value by 20 per cent over the last 24 hours - in the digital downturn that is hammering investors who bought during the Covid years.
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Thank God I didn't. Not one thin dime.
I remember when it first started. it was cheap. but it was nothing really, electric numbers- ones and zeros . knew a few guys who put some money into it. I think they sold out after it hit like 1000 bucks or so, they did alright. but it always seem to be a scam to me. so, I stay away from it. looks like I was right after all.
ReplyDeleteBitcoin came across my radar in 09 or 10, at $.07 per. I thought WTF. When it hit $7, WTF? When it hit $70 a couple of years later, I decided that I apparently didn't know anything. Every generation has something that "If I'd only known". I could have thrown $100 at it a decade ago, that I would blow on something else...
DeleteIt ain't just crypto, brother. That sucking sound tou hear is coming out of my 401k/ira. (Probably yours, too)
ReplyDelete-LG
my 401k went to pay medical bills that big blue refused to pay.
Deleteand what was left was raped by the fucking IRS.
funny thing, the ammo I stocked up has increased in value. if I knew ammo was going to go up the way it did, I would have bought it by the skid load when it was cheap.
anyone else remember getting 5.56 radway green for under 20 cents a round ?
or nato 7.62 for 120 per k ?
5.56 and 9MM are still holding there value
ReplyDeleteYeah, baby. Lead and powder
DeleteWait. What? You got powder? How about primers?
DeleteAre we going to see people taking swan dives off of virtual buildings soon?
ReplyDeleteExile1981
Virtual people.
DeleteYou're not far off. Citizen Free Press had some links (to reddit I think) where people are literally telling in posts they're going to kill themselves. I believe some on the site have actually gone through with it.
DeleteThe time for this stuff is before the public at large knows anything about it.
ReplyDeleteCash is king - always has been - always will be. When the lectric goes kafluey and fails to come on for days upon days, after days, and you got no electronic digitized currency the gommermint keeps track of you by, whaddaya gonna buy essentials with? Eh! Answer me that mr. digital currency.
ReplyDeleteAnd why is it you insist on using a currency the gommermint can use to say whether you buy cheerios or cornflakes. Sorry, you can't have corn flakes, they are not socially acceptable today, and you don't have enough social credits for cheerios, you need to go hungry, cause it's good for climate change. Now go charge your lectric car with the non existent lectric.
A buddy of mine was a gamer when bitcoin was just starting and since he was at work 8+ hours a day he figured why not have his fancy computer doing something during that time. To begin with mining bitcoin was easy, he had near 10k at one point. Doesn't need to work any more. Kind of like one of the cab drivers who worked with my dad, he bought a thousand or so shares of Apple when it first came on the market.
ReplyDeleteGreatest Ponzi scheme ever!
ReplyDeleteGenerally, the such investments are bought for the purpose of selling them later. Don't love your stocks, they're not going to love you, they don't even know you. Don't wait too long to pull the pin. After that, Mr. Stock is not your friend.
ReplyDeleteAs I'm sure many others has thought/said:
ReplyDeleteskills > food > (lead+propellant) >> precious metals > cash = cash investments >>> phantoms of electrical current pulsing around the world.
-Just a Chemist
In theory bit coin sounds great. A currency separate from other countries. Well you knew the IRS and fed was not going to let that last for very long. Once they get their fingers in it, then it is just another currency. And a lot of it is based in russia and china. Great. Might as well be dealing with a politician in the US. I was waiting in a electronic repair shop. A lady came in panicing about not getting to her bitcoin account. The lady's computer crashed and she switched phone companies and phones.. She forgot her bitcoin password and was basically screwed.
ReplyDeleteWell, I have no dogs in the bit coin pit.
ReplyDeleteBut I have been getting notifications that my trusty old Nokia cell phone will be obsoleted in December.
Not buying a smart phone. What to do?
=TW=
You can still buy a flip phone. The companies don't really like selling them, but they do have them for sale. Unfortunately, they keep "upgrading" them, so they'll be the same as smart phones very soon. :(
DeleteI don't touch any of that Bitcoin, Etherium shit. I do wish I had invested a few hundred bucks 12 years ago though.
ReplyDeleteFor ANY investment, the question is How does it generate value? With company stock, the company should be selling product at a profit. With real estate, is the property earning rent money? Anything not generating profit is a hope there’s a bigger fool willing to pay for something generally worthless - jewelry and cryptocurrency included.
ReplyDeleteI never invested a dime in Bitcoin of the others because no one could or would answer my question...which simply is what happens to keep the system running after all the coins are mined? Duh?
ReplyDeleteAND if you invest in one of these where does that money go exactly?
Lots of shade on this topic. Think I'll pass.
(Old Tech) An entirely electronic currency created out of (actually) nothing and all of a sudden vaporizing after people put real money into it?
ReplyDeleteWhat are the odds that money is funding Hunter's crack habit?