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Economy

keithbvadu2

(40,500 posts)

9. The big money return in crypto is:::

Reply to mahatmakanejeeves (Original post)

Mon Dec 9, 2024, 10:25 AM

Dec 9

The big money return in crypto is:::

1. Starting it, hyping it, selling it, and getting out, leaving the
suckers holding the bag.
2. Handling/storing it for others.
...a. Not your own money/crypto. Someone else's money/crypto.
...b. Lots of fraud/money manipulation/theft/lack of regulation.
3. Backed by trust/faith/great promises/optimism... but no
real assets.
4. It can literally disappear and good luck with lawsuits.
------------------
A few have profited by 'investing' but not the majority.

BTW... You're buying it with your 'real' money.
Will they let you buy it with your old broken crypto?

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Highlight:

A Kid Made $50,000 Dumping Crypto He'd Created. Then Came the Backlash [View all] mahatmakanejeeves Dec 9 OP

And this currency is what they want to tie to our social security? Baitball Blogger Dec 9 #1

Yes, your new payment is 1.7 Gen Z Quant monthly bucolic_frolic Dec 9 #2

Careful. I wrote a post yesterday about that and it was deleted. erronis Dec 9 #12

The whole 'Social Security will be paid in crypto' thing is ridiculous. Same for paying off the national debt with it. Celerity Dec 9 #14

If a kid with no resources can do this, think what a narcistic billionaire could do. Midnight Writer Dec 9 #3

Its the bigger idiot theory.... getagrip_already Dec 9 #5

Good for him. I don't trust the bit coiners as far as I can spit. If they can get away with it, he should get away ... marble falls Dec 9 #4

kid is a loser and scumbag (read also predator) stopdiggin Dec 9 #15

Just hope he added all the right legal disclaimers.... getagrip_already Dec 9 #6

key phrase "The "overwhelming majority" of new crypto tokens entering the market are scams of one form or another..." cynical_idealist Dec 9 #7

Its definitely time..... 70sEraVet Dec 9 #8

The big money return in crypto is::: keithbvadu2 Dec 9 #9

College business schools are probably already recruiting him - TBF Dec 9 #10

Yet another example of how far we have to go to remove the programming. OldBaldy1701E Dec 9 #11

Crypto - the quintessential example of the Greater Fool Theory. NoMoreRepugs Dec 9 #13

Crypto is perfect for scammer, gamblers, or those who have no faith in government issued currencies because Probatim Dec 9 #16

Did he learn his lesson from all this?... OH, YEAH! keithbvadu2 Dec 9 #17

Post removed Post removed Dec 10 #18