Crypto is fine. Its centralized exchanges which are not, its why crypto exists, remove the human element of corruption. Keep your coins off 3rd party exchanges and 99% of this drama disappears.
And 99% of the market and capital as well.
You Can Forget About Crypto Now
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Re: You Can Forget About Crypto Now
#12> despite the ricketiness of the whole system, despite the constant feeling that everything might fall apart at any moment, there will come a time when crypto really arrives. For me crypto was always Ponzi scheme and nothing more, but it is because I don't laundry money or sell drugs, so I am not the target for crypto.
TBH, BTC has always been quite alright, but those so-called altcoins are becoming more and more ridiculous by the day. Once the NFT craze was in full swing, I thought we had reached peak comedy, but it seems my imagination was too poor.
Also, I thought that not every single alt-coin is a ponzi-like fraud, but I will probably be disproven once again.
Re: You Can Forget About Crypto Now
#13>> Fried, after all, was supposed to be crypto’s good-guy wunderkind, the pro-regulation prophet who would finally lead crypto into the mainstream. That's rule number one in crypto and the very reason it motivates its existence: You shouldn't trust a 3rd party with your money. Let the "crypto investors" learn this lesson first hand.
Which is also what makes it impossible. Trust is a prerequisite to any commercial exchange, since it requires at least two different parties. Big centralized systems use a third party for “scam protection”. Math alone can’t replace trust.
DEX are working nicely and constantly improving. Today, CEX are only useful for on/off ramp of fiat.
Re: You Can Forget About Crypto Now
#14Crypto is fine. Its centralized exchanges which are not, its why crypto exists, remove the human element of corruption. Keep your coins off 3rd party exchanges and 99% of this drama disappears.
Well, if I use some altcoin as a savings account, how is keeping custody over it going to save me when the altcoin owner decides to pull the rug? And 2022 has shown that when it comes to Ponzi-schemes, raising interest rates means harvest-time.
Re: You Can Forget About Crypto Now
#15I agree, the MtGox collapse is the death of Bitcoin.
Re: You Can Forget About Crypto Now
#16Crypto cannot exist in its useful form as a currency while being treated like a security. The regulation has killed the usefulness of bitcoin on purpose
Re: You Can Forget About Crypto Now
#17Part of what makes Bitcoin decentralised is that it barely matters who declares it dead; it can keep on chugging away with a different group of miners. Even if the price has been knocked down to the before-times of 2020. Eventually the coin dies, but it isn't going to be because anyone declares it so.
Re: You Can Forget About Crypto Now
#18Earlier quoted context omitted.
Which is also what makes it impossible. Trust is a prerequisite to any commercial exchange, since it requires at least two different parties. Big centralized systems use a third party for “scam protection”. Math alone can’t replace trust.
DEX are working nicely and constantly improving. Today, CEX are only useful for on/off ramp of fiat.
Cool. On the day when you can actually buy real products with cryptocurrency directly, maybe that will matter.
Re: You Can Forget About Crypto Now
#19> despite the ricketiness of the whole system, despite the constant feeling that everything might fall apart at any moment, there will come a time when crypto really arrives. For me crypto was always Ponzi scheme and nothing more, but it is because I don't laundry money or sell drugs, so I am not the target for crypto.
Tell that to Argentinians, Venezuelans, Iranians where US dollar stablecoins are much more popular among general population.
For different reasons: - easier & safer to store - much more stable than their countries own currency - not controlled by the regime
And they will likely keep using it, despite major crypto exchanges crashing down, or despite the unclear dangers of USDT.
Re: You Can Forget About Crypto Now
#20> despite the ricketiness of the whole system, despite the constant feeling that everything might fall apart at any moment, there will come a time when crypto really arrives. For me crypto was always Ponzi scheme and nothing more, but it is because I don't laundry money or sell drugs, so I am not the target for crypto.
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