The anti-crypto thread

[BFG10K]

Great news, crypto's collapsing across the board: https://www.techpowerup.com/282380/...ions-in-less-than-24-hours-did-the-bubble-pop

Also China's banned crypto, though individuals can still have it: https://finance.yahoo.com/news/chinese-financial-payment-bodies-barred-122712260.html

The sooner this cancerous parasite is wiped out, the better.

 

[Fanatical Meat]

You mean someone's password was guessed/stolen.

Now if someone guessed my bank accounts password I know that would be considered fraud and I would get my money back fairly promptly.
What happens to a crypto wallet gets accessed?

 

[dullard]

You mean someone's password was guessed/stolen.

As in methods now exist for personal crypto held in personal wallets (secure, offline, backed up, etc.) can be stolen because the keys assigned to your crypto were not random. So far, this only applies to some keys, but over time more and more exploits will be found and used.

 

[DrMrLordX]

Now if someone guessed my bank accounts password I know that would be considered fraud and I would get my money back fairly promptly.
What happens to a crypto wallet gets accessed?

You lose everything. That's part of the whole decentralized gig.

As in methods now exist for personal crypto held in personal wallets (secure, offline, backed up, etc.) can be stolen because the keys assigned to your crypto were not random. So far, this only applies to some keys, but over time more and more exploits will be found and used.

It has always been like that. Always. Once they have the keys you = ded.

 

[VirtualLarry]

INSIDER ON BENCOIN

 

[VirtualLarry]

https://www.newegg.com/msi-radeon-rx-6600-mech-2x-8g/p/N82E16814137690?Item=9SIAH8WK194884

GPU scalping returning? MSI RX 6600 8GB, for $500???

 

[Heartbreaker]

https://www.newegg.com/msi-radeon-rx-6600-mech-2x-8g/p/N82E16814137690?Item=9SIAH8WK194884

GPU scalping returning? MSI RX 6600 8GB, for $500???

No, sketchy 3rd parties are always selling GPUs at stupid high prices, and if any suckers buy them: Win!

 

[dullard]

Since Crypto is only for reasonable people and normal uses, and nothing to do with criminal activity, this seems like an odd thing for someone to do:

https://www.reuters.com/technology/us-sec-has-not-approved-bitcoin-etfs-social-media-account-compromised-2024-01-09/

Why hack the U.S. Securities and Exchange Commission's X account simply to post that they approved ETFs that track crypto? That just seems odd for something that is otherwise totally legit.

That is, unless someone wanted to add to the growing number of ways to use crypto to scam people out of actual money.

 

[AdamK47]

The SEC has rejected spot Bitcoin ETFs before over fears of market manipulation.

Now there is market manipulation on the price of Bitcoin over a fake tweet from the SEC Twitter account announcing the approval of spot Bitcoin ETFs.

So many levels of absurd irony.

 

[Zorba]

hey, apparently when I was growing up my family really had created a government! always learning something new on the internet! when I was playing sports with rules we all agreed upon, we were playing government soccer! wow life makes so much more sense now!

Sports orgs are often called "governing bodies."

 

[drnickriviera]

Since Crypto is only for reasonable people and normal uses, and nothing to do with criminal activity, this seems like an odd thing for someone to do:

https://www.reuters.com/technology/us-sec-has-not-approved-bitcoin-etfs-social-media-account-compromised-2024-01-09/

Why hack the U.S. Securities and Exchange Commission's X account simply to post that they approved ETFs that track crypto? That just seems odd for something that is otherwise totally legit.

That is, unless someone wanted to add to the growing number of ways to use crypto to scam people out of actual money.

Umm, because greed. Have you never heard of pump and dump for stocks?

 

[dullard]

Umm, because greed. Have you never heard of pump and dump for stocks?

Seemed like my post went right over your head. With several people here arguing that crypto is not based on greed or illegal activities, this seems like one more piece of evidence against their arguments.

 

[AdamK47]

INSIDER ON BENCOIN

The more I come across this guy and read about him the more I detest him.

He's real scum. The drugs, his divorce, greed, and the general way he treats people are just downright awful.

He still has a loyal following somehow. One that actually gives him money to pay for his many legal fees. Crazy!

 

[AdamK47]

Vanguards stance on Bitcoin ETFs.

One place you won't find a bitcoin ETF: Jack Bogle's Vanguard

Vanguard said it will not launch a bitcoin ETF, even as its chief rival BlackRock debuted a fund on Thursday.

www.cnbc.com

Our perspective is that these products do not align with our offer focused on asset classes such as equities, bonds, and cash, which Vanguard views as the building blocks of a well-balanced, long-term investment portfolio

and

While we continuously evaluate our brokerage offer and evaluate new product entries to the market, spot Bitcoin ETFs will not be available for purchase on the Vanguard platform. We also have no plans to offer Vanguard Bitcoin ETFs or other crypto-related product

Love these guys.

 

[Shmee]

I personally think the ETFs are kinda silly, I just don't see them as worthwhile to the infrastructure. They are basically fake coins, you don't actually control them to my understanding. I think it is more of a way to get lay people into crytpo, and to increase the price of coins for existing whales so they take profit.

 

[DrMrLordX]

I personally think the ETFs are kinda silly, I just don't see them as worthwhile to the infrastructure. They are basically fake coins, you don't actually control them to my understanding. I think it is more of a way to get lay people into crytpo, and to increase the price of coins for existing whales so they take profit.

Judging by how the crypto markets have reacted, those whales are taking their profits early.

 

[VirtualLarry]

lolerz

Millenials and Gen-Z, can't afford a home? INVEST in CRYPTO???

 

[KlokWyze]

Crypto tech is certainly used for criminal activities just like any other set of monetary tools. I suppose it's good to focus on criminal activity in the crypto world. Should this be done at the expense of ignoring corrupt/criminal practices with non-crpyto financial tools? What is the benefit of being in a tribe that just hates anything crypto? What do you get out of it?

 

[Fanatical Meat]

Crypto tech is certainly used for criminal activities just like any other set of monetary tools. I suppose it's good to focus on criminal activity in the crypto world. Should this be done at the expense of ignoring corrupt/criminal practices with non-crpyto financial tools? What is the benefit of being in a tribe that just hates anything crypto? What do you get out of it?

Whom is ignoring non crypto based crime?

 

[njdevilsfan87]

What is the benefit of being in a tribe that just hates anything crypto? What do you get out of it?

It's basically a support group for having missed out on life changing choices. Same as the anti-AI thread.

 

[AdamK47]

It's basically a support group for having missed out on life changing choices. Same as the anti-AI thread.

Still going with that schtick?

Sure, I missed out on a speculative highly volatile asset that has little to no intrinsic value to instead use my money wisely by investing in stock market equities backed by tangible goods and services.

I feel so left out.

 

[AdamK47]

My man Mr. Dimon had something to say recently.

https://www.cnbc.com/2024/01/17/jamie-dimon-says-hes-done-talking-about-bitcoin-i-dont-care.html

 

[dullard]

Crypto tech is certainly used for criminal activities just like any other set of monetary tools.

The scale is so vastly different, that you can't ignore that. Crypto legitimate uses are negligible compared to their criminal uses. That isn't true with almost any real money. In fact, it is the exact opposite where legitimate dollar uses completely dominate the crimimal uses.

I suppose it's good to focus on criminal activity in the crypto world. Should this be done at the expense of ignoring corrupt/criminal practices with non-crpyto financial tools?

Some people and some entities actually have the ability to do both.

What is the benefit of being in a tribe that just hates anything crypto? What do you get out of it?

I like my fellow ATOT posters and want to help keep them well-off. That includes warning about their mistakes in crypto.

 

[dullard]

Crypto tech is certainly used for criminal activities just like any other set of monetary tools.

The scale is so vastly different, that you can't ignore that. Crypto legitimate uses are negligible compared to their criminal uses. That isn't true with almost any real money. The fact that a horde of people is necessary to defend crypto and their pitiful attempt to find any tiny shreds of significant legitimate use is just one more drop in the bucket of evidence against crypto. If crypto was legitimate, it wouldn't need defending and crypto users would accept and acknowledge criticisms of crypto.

I suppose it's good to focus on criminal activity in the crypto world. Should this be done at the expense of ignoring corrupt/criminal practices with non-crpyto financial tools?

Some people and some entities actually have the ability to do both. I can see why anyone into crypto doesn't understand that though.

What is the benefit of being in a tribe that just hates anything crypto? What do you get out of it?

I like my fellow ATOT posters and want to help keep them well-off. That includes warning about their mistakes in crypto. I've been posting investing advice since long before crypto and will continue to do so well after crypto is just a long-ago dream gone bad.

 

[DrMrLordX]

My man Mr. Dimon had something to say recently.

Careful when choosing bedfellows. You might get fleas!

Crypto is for criminals? JPMorgan has been fined $39B and has its own token

Crypto Twitter has slammed JPMorgan’s Jamie Dimon over remarks that Bitcoin is for criminals.

cointelegraph.com

 

[AdamK47]

Careful when choosing bedfellows. You might get fleas!

Impossible in my case. I'll leave it at that.