General Discussion

usonian

(17,965 posts)

37. Posting this past a lot of discussion on crypto, I just wanted to emphasize the danger.

Sun May 25, 2025, 12:18 PM

Sunday

If someone steals your bank password, you have (hopefully) some recourse from the bank, whereas when someone steals your wallet password, you are totally up shit creek.

Laundering the plunder is easier, though not foolproof, thanks to the public chain, but feel comforted by the fact that a great number of crypto “users” are criminals and that the business is backed by the good faith and trust of people like Donald Trump.

Oh, and robberies and scams are policed by the DOJ.

Another trustworthy bunch as they are being purged of people upholding the law by (arguably) people engaged in subverting it.

It’s called “swimming with sharks”

And have a great day!

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pbmus

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No crypto for me. Too dangerous. [View all] usonian May 24 OP

Crypto is BS PJMcK May 24 #1

IMHO, it's nothing more than an electronic Ponzi scheme. nt Phoenix61 May 24 #3

Absolutely! SheltieLover May 24 #4

Nine for me either. Except for its demand, it's a worthless asset. surfered May 24 #2

our problem is not crypto, thats just the greediest bastards in the universe tool .... pbmus May 24 #5

The problem is the greediest assholes in the universe are worse than ever. Initech May 24 #8

If we survive till midterms and pbmus May 24 #13

The biggest priority should be de-Foxing our government. Initech May 24 #17

Fox has few viewers compared to podcasts womanofthehills Sunday #24

But the power they wield in the American government is insane. Initech Sunday #25

It's too close to Ponzi. There is nothing behind it, it's just a bunch of tulips. marble falls May 24 #6

Don't disagree, but the same is true times10 regarding the U.S. dollar with almost NOTHING behind it!! InAbLuEsTaTe May 24 #10

Completely Untrue ProfessorGAC May 24 #14

Guess we'll see about that when tRump's global financial policies lead to hyper-inflation & financial collapse... InAbLuEsTaTe May 24 #18

Thank you. PoindexterOglethorpe May 24 #21

Exactly. DFW Sunday #32

The people who are getting rich off crypto are people who you wouldn't trust with 15 cents. Initech May 24 #7

Crypto preferred by 10/10 KentuckyWoman May 24 #9

In the words of Paul Krugman: FalloutShelter May 24 #12

I guess I'm the loan voice of dissent k_buddy762 May 24 #11

Wait A Second ProfessorGAC May 24 #15

Well, I see it as a long term thing k_buddy762 May 24 #19

How does something fall 200%? fujiyamasan Sunday #26

PUFF Cosmocat Sunday #34

I think the expectation is that bitcoin's price will continue to rise fujiyamasan Sunday #31

Lone, not loan voice. PoindexterOglethorpe May 24 #22

I have some crypto- planning on buying more womanofthehills Sunday #23

If you don't mind me shilling Cosmocat Sunday #35

Interesting k_buddy762 Sunday #36

That's smart. Best to never invest what you can't afford to lose fujiyamasan Tuesday #39

You just don't understand the technology/miracle of blockchain/modern investing/money/strategic thinking/the future/econ hatrack May 24 #16

Wise! LearnedHand May 24 #20

I know I SHOULD understand crypto by now DFW Sunday #27

Maybe they were trading on margin fujiyamasan Sunday #29

A margin call would do it, however... DFW Sunday #30

Weird story fujiyamasan Sunday #28

I equate cryto-currency with the derivatives that were so popular 20+ years ago. no_hypocrisy Sunday #33

Posting this past a lot of discussion on crypto, I just wanted to emphasize the danger. usonian Sunday #37

These are magic numbers that are transformed into new magic numbers when you sell them. hunter Sunday #38