Over $19 billion liquidated in worst crypto crash since COVID

[Blaster]

Good......Maybe lock in some of your profits before the poof happens

What poof?

 

[Manonthestreet]

What poof?

What rockets up can implode even faster

 

[Blaster]

What rockets up can implode even faster

Don't comment on something you know nothing about.

 

[Concerned American]

What poof?

You've disagreed, but you didn't answer the question that I posed. What is the underlying value of crypto currency? There is NO intrinsic value at all. It is based on mining algorithms---smoke and mirrors. Ponzi. What is the regulating authority?

 

[Blaster]

You've disagreed, but you didn't answer the question that I posed. What is the underlying value of crypto currency? There is NO intrinsic value at all. It is based on mining algorithms---smoke and mirrors. Ponzi.

Go **** yourself.

 

[Manonthestreet]

Don't comment on something you know nothing about.

That applies to any investment.......There is no there ...there

 

[Concerned American]

Go **** yourself.

Sure, that's a proper answer to a valid question that you clearly have NO ANSWER for. Run along junior. A fool and his money...

 

[Blaster]

Sure, that's a proper answer to a valid question that you clearly have NO ANSWER for. Run along junior. A fool and his money...

You are the fool but thanks for playing.

 

[Concerned American]

You are the fool but thanks for playing.

Thanks for the non response. I asked legitimate questions that you clearly have no answer for which is evidenced by your pre pubescent response. It's typical when someone has their unsupported value system taken to task.

 

[Dont Taz Me Bro]

Crypto is a scam

The "meme coins" are, but there are several coins with legitimate utility.

 

[Manonthestreet]

You are the fool but thanks for playing.

Congrats on your being in the right place at the right time......Don't understand your hostility or lack defense on its soundness

 

[Manonthestreet]

The "meme coins" are, but there are several coins with legitimate utility.

Perhaps. And what is their backstop........what are they but pieces of ephemera

 

[Dont Taz Me Bro]

Perhaps. And what is their backstop........what are they but pieces of ephemera

No different than the U.S. dollar. The moment we went off the gold standard it's been backed by "trust me, bro." Their backstop is their utility. As long as they have a use and people have an interest in that use and are willing to purchase, hold, and spend them, they have worth, like anything else.

 

[Concerned American]

Don't comment on something you know nothing about.

Listen, IDK what your problem is. You've been asked numerous times and your only response is "You don't know what you're talking about" or GFY. Neither are productive. A better response would be to help us understand and answer the legitimate questions. SMH, you have just exhibited to me that, in fact, you know as little about it as you accuse us of knowing.

 

[Manonthestreet]

No different than the U.S. dollar. The moment we went off the gold standard it's been backed by "trust me, bro." Their backstop is their utility. As long as they have a use and people have an interest in that use and are willing to purchase, hold, and spend them, they have worth, like anything else.

Well don't just sit there jump in.....anything that can be manipulated like this has is a ponzi. It wont end well. Wouldn't doubt something like this is the cause of a giant crash in the economy

 

[Concerned American]

The moment we went off the gold standard it's been backed by "trust me, bro."

A bit of an oversimplification. The US dollar is based on the historical GDP of the US workforce.

 

[Concerned American]

As long as they have a use and people have an interest in that use and are willing to purchase, hold, and spend them, they have worth, like anything else.

I admit that I have little understanding of crypto. My understanding has been that there is a limited number of any of the various crypto coins and there will never be any more. However, that doesn't settle with the fact that there are crypto mining operations in non descript buildings around the world that are using massive amounts of energy in the attempt to "mine" more. That's a contradiction. Also, beyond people investing in this "nothingness" there is no value basis. There is also no regulating agency to maintain its legitimacy as evidenced by the numerous crypto currencies that have come and gone. I am not trying to be argumentative--I truly would like to gain some understanding as I haven't gotten any logical answers.

 

[Blaster]

I admit that I have little understanding of crypto.

That is obvious.

 

[Concerned American]

That is obvious.

So educate me. I've only asked you three or four times and the best you can come up with is insults, ad homs and pejoratives. SMFH, don't blame your obvious incompetence and lack of knowledge on me. At least I admit it. What is your excuse?

 

[sparky]

simplified, money and currency are two independent distinctions ........~S~