General Discussion

usonian

(23,510 posts)

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

Sun May 25, 2025, 11:18 AM

May 2025

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 2025 OP

Crypto is BS PJMcK May 2025 #1

IMHO, it's nothing more than an electronic Ponzi scheme. nt Phoenix61 May 2025 #3

Absolutely! SheltieLover May 2025 #4

Nine for me either. Except for its demand, it's a worthless asset. surfered May 2025 #2

our problem is not crypto, thats just the greediest bastards in the universe tool .... pbmus May 2025 #5

The problem is the greediest assholes in the universe are worse than ever. Initech May 2025 #8

If we survive till midterms and pbmus May 2025 #13

The biggest priority should be de-Foxing our government. Initech May 2025 #17

Fox has few viewers compared to podcasts womanofthehills May 2025 #24

But the power they wield in the American government is insane. Initech May 2025 #25

It's too close to Ponzi. There is nothing behind it, it's just a bunch of tulips. marble falls May 2025 #6

Don't disagree, but the same is true times10 regarding the U.S. dollar with almost NOTHING behind it!! InAbLuEsTaTe May 2025 #10

Completely Untrue ProfessorGAC May 2025 #14

Guess we'll see about that when tRump's global financial policies lead to hyper-inflation & financial collapse... InAbLuEsTaTe May 2025 #18

Thank you. PoindexterOglethorpe May 2025 #21

Exactly. DFW May 2025 #32

The people who are getting rich off crypto are people who you wouldn't trust with 15 cents. Initech May 2025 #7

Crypto preferred by 10/10 KentuckyWoman May 2025 #9

In the words of Paul Krugman: FalloutShelter May 2025 #12

I guess I'm the loan voice of dissent k_buddy762 May 2025 #11

Wait A Second ProfessorGAC May 2025 #15

Well, I see it as a long term thing k_buddy762 May 2025 #19

How does something fall 200%? fujiyamasan May 2025 #26

PUFF Cosmocat May 2025 #34

I think the expectation is that bitcoin's price will continue to rise fujiyamasan May 2025 #31

Lone, not loan voice. PoindexterOglethorpe May 2025 #22

I have some crypto- planning on buying more womanofthehills May 2025 #23

If you don't mind me shilling Cosmocat May 2025 #35

Interesting k_buddy762 May 2025 #36

That's smart. Best to never invest what you can't afford to lose fujiyamasan May 2025 #39

You just don't understand the technology/miracle of blockchain/modern investing/money/strategic thinking/the future/econ hatrack May 2025 #16

Wise! LearnedHand May 2025 #20

I know I SHOULD understand crypto by now DFW May 2025 #27

Maybe they were trading on margin fujiyamasan May 2025 #29

A margin call would do it, however... DFW May 2025 #30

Weird story fujiyamasan May 2025 #28

I equate cryto-currency with the derivatives that were so popular 20+ years ago. no_hypocrisy May 2025 #33

Posting this past a lot of discussion on crypto, I just wanted to emphasize the danger. usonian May 2025 #37

These are magic numbers that are transformed into new magic numbers when you sell them. hunter May 2025 #38