What?
You think that buying land in the Metaverse isnât a good idea?
How could it go wrong?
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It was a sudden wave of collective greed. Someone tell you to go to a meeting you pay 1000 or more and then you are promised to make a bundle âjust recruit others. It was like multi-level marketing with money the only product.
People would meet in garages. Of course those who first got into it would abscond with the money.
A ponzi scheme. in the late 70âs or early 80âs I think. My brother dragged me to one. it was ridiculous.
People went nuts dreaming of getting big bucks. Few of them did.
They were investigated and busted. It was decentralized but the masterminds would sprout up elsewhere.
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Thanks.
I hate to see people get scammed. The majority of people are those who can least afford it or at a vulnerable time.
Sure they can see the warning signs but they ignore them in the hope that this could turn things around.
I stopped a family member from getting scammed out of thousands. She is not a stupid person but this âopportunityâ came just at the right time for her. She felt so stupid when I explained it to her.
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My only foray into crypto was when PayPal offered a $25 credit (on a subsequent purchase through PPal) if you bought $25 or more in crypto. That was back in December.
No-brainer, that one. Bought 25 in bitcoin. Used the $25 credit on one of my Christmas purchases, and I still have the bitcoin, so it cost me nothing. And I forgot about it since then.
Just looked. That 25 in bitcoin is now at 11.79.
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Itâs no different than printing play money and convincing people to give you real money for it. The fact that itâs value is determined by how many US dollars it is worth should tell you that.
Unlike gold, there is nothing of intrinsic value behind it.
A stock relies ultimately on the production capacity behind it.
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Thanks, Universe!!
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The troubling thing is, our big media refuses to make the distinction between a dollar:
and a Federal Reserve Note:
JWK
âOf all the contrivances for cheating the laboring class of mankind, none have been more effectual than that which deludes them with paper money. This is the most effectual of inventions to fertilize the rich manâs field by the sweat of the poor manâs brow.â_____ Daniel Webster.
Oh man, if you thought supply lines were bad over the last year, just wait until alllll those ships loitering off of Chinaâs coast clash with consumer demand (think Californiaâs clogging was bad?).
Less than 2 months to go. 
I always said I wouldnât invest in something I didnât understand where it got itâs worth. Bitcoin is a pyramid. So now that I understand where it gets itâs worth, Iâm still not investing in it.
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Below are the four largest cryptocurrencies (by market cap)
Notice #3, and #4. Those are âstable coins.â They are stably tethered to the USD, just like Terra/Luna. Invest a $1.00 today and it is intended to be worth $1.00 ten years from now.
You know . . . in case you donât trust dollars you can buy something tethered to the dollar. LMAO
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Does âall time lowâ now mean âlast year or two?â Neither Bitcoin or Ethereum are at all time lows. Those two are the workhorses and will bounce back.
I stand corrected, I read and repeated without checking.
I now see
the ânew lowsâ they reached are not âall time lows.â
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They look overvalued X2 to me. Should be around the 10,000 mark of 2020. Maybe $12,000.
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Welcome to Joe Bidenâs America.
The economy is crippled and the stock market and crypto currency are on life support due to his negligent leadership! 
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Meanwhile not including Terra/Luna, at least five cryptos now trade for under a penny.
Even at that rate they have market caps LOW = $400m HIGH = $5.8B
Itâs called inflation. Itâs what can happen when entities acting as central banks have no concept of currency.
Notice it especially Shiba Inu.
Its current value: $0.00001069 each
Even so itâs current market cap is $5.8 b.
If ever were really worth a penny each, it would have been worth
$5.8 Trillion
More than the GDP of the UK and France and Finland and Greece and New Zealand combined.
It is one of over 10,000 crypto currencies traded and available.
Does ANYONE really think these things were worth their Day-1 value?
Perhaps. Until/unless cryptocurrencies are widely accepted for day to day transactions they will be a high-risk, high-reward venture. Even then theyâll be subject to significant volatility. I have invested some in crypto but not any more than Iâm willing to lose. The extreme short term changes are at first unsettling and then just a part of it. The long term trajectory of crypto is fine but when looking in shorter time frames looks like a mess. Especially when compared to fiat currencies and traditional stocks.
Same here. I never understood bitcoin. Maybe for folks who work in the medical marijuana industry who cannot make dollar deposits?
If the value is tied to the dollar then why not just use a dollar?
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There are many more than that trading for way less than a penny. They are primarily â â â â â â â â â â â â Theyâre the result of cryptocurrency makers and investors trying to get rich quick or with overly optimistic pipe dreams. Somewhat analogous to investing in a startup company. Very few go on to become the next Google or Amazon. Most fail and some are straight up scams.
EDIT: The censored word is another word for feces + coin. Itâs a pretty standard term for a cryptocurrency that is a scam or not worth anything from the start.
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Grandma paid all her bills off, shredded her plastic cards, and maintained a savings account for the rest of her life. She lived debt-free and paid her way through life in cash. When she passed away, she left hundreds of thousands of those savings to her children.
Grandma was smart.
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I have the same philosophy. Except I get cash back on my credit cards and pay them off every month 
If I cannot afford to buy it, it doesnât go on the credit card. I get to suck it up until I can.
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