If law enforcement just had Tether freeze $160M on the ethereum blockchain, then it can't possibly be decentralized
If law enforcement just had Tether freeze $160M on the ethereum blockchain, then it can't possibly be decentralized
“ Estimates vary, but studies of Bitcoin wallets over the past few years suggest two percent of wallets own at least 95 percent or more of existing coins―and that this extreme concentration is only getting worse. A similar trend has emerged in Ethereum where the majority of all coins are held by a small group of whales, which includes institutional investors looking to furnish their portfolios. ”
https://www.vice.com/en/article/pkbn4k/the-economy-is-back-welcome-to-the-casino
Buttcoin wrote:
“ Estimates vary, but studies of Bitcoin wallets over the past few years suggest two percent of wallets own at least 95 percent or more of existing coins―and that this extreme concentration is only getting worse. A similar trend has emerged in Ethereum where the majority of all coins are held by a small group of whales, which includes institutional investors looking to furnish their portfolios. ”
https://www.vice.com/en/article/pkbn4k/the-economy-is-back-welcome-to-the-casino
You have to figure exchanges into that where probably the majority is. A lot of people confuse exchanges for whales.
Tether sucks. It’s just a standard bank. Only morons fall for it. Use UST or DAI.
People don't use Tether as a bank oO.
Tether is in the top 5 market cap of all the shtcoins out there and it’s not even a shtcoin but a stable-shtcoin. Every 14-year-old kid in USA knows enough to say it’s a scam.
Is “USD coin” aka USDC which is also in the top five market cap of all sht coins and stable–shtcoins when some of the regular ordinary sht coins crash in value also scam?
Maybe...... wrote:
You have to figure exchanges into that where probably the majority is. A lot of people confuse exchanges for whales.
You mean like this?
https://twitter.com/whale_alert/status/1481969507010818052?s=21To me it looks like major liquidity issues throughout crypto space due to fraud because a crypto doesn’t produce anything, doesn’t generate income, so the only thing entering the system is what a gambler wants to pay in fiat to enter the shtcoin exchanges, so the shtcoin exchanges have to be able to cover their positions if any gamblers want to liquidate (ie convert crypto shtcoin to fiat)
Essentially venture capitalists and certain segments of mainstream media advertising are only interested in the crypto space because it’s a pure marketing gig for gambling platforms in the USA. That’s essentially the entire business of crypto. Casino game. That’s its utility. So it has some utility in shifting around money from losing gamblers to a few winners . It’s quite predatory on the poor . Other than that the entire crypto space isn’t good for anything except advertising and taking people’s monies to gamble in some gambler’s hopes of making it big as there is no way this junk will ever be used as a currency. The hopes of making it big, like lottery tickets purchased at gas stations, tend to attract a lower to lower middle class demographic which has a lot in common with Mag@ folks and what they strive for in life.
Does anyone understand what happened here? It looks like cowboys in Wyoming got everything stolen by hackers in trying to create a blockchain city? The discord was hacked along with all the fiat money of the members.
https://www.vice.com/en/article/k7w3am/people-building-blockchain-city-in-wyoming-scammed-by-hackers
https://twitter.com/Lyons_800/status/1480909318832721924?s=20
Sh||tcoin Gambler wrote:
Does anyone understand what happened here? It looks like cowboys in Wyoming got everything stolen by hackers in trying to create a blockchain city? The discord was hacked along with all the fiat money of the members.
https://www.vice.com/en/article/k7w3am/people-building-blockchain-city-in-wyoming-scammed-by-hackershttps://twitter.com/Lyons_800/status/1480909318832721924?s=20
I don't know what happened. But doesn't surprise me. I'm pro Crypto when it comes to making money. But I would not want the world to become largely decentralized crypto. Often your assets are not insured, and you're responsible for setting up your own security. Plus, transferring money is a task when you start- and there's no customer service to call. But crypto is being used, and it has been madly profitable to this point.
ccrryypptt wrote:
Sh||tcoin Gambler wrote:
Does anyone understand what happened here? It looks like cowboys in Wyoming got everything stolen by hackers in trying to create a blockchain city? The discord was hacked along with all the fiat money of the members.
https://www.vice.com/en/article/k7w3am/people-building-blockchain-city-in-wyoming-scammed-by-hackershttps://twitter.com/Lyons_800/status/1480909318832721924?s=20I don't know what happened. But doesn't surprise me. I'm pro Crypto when it comes to making money. But I would not want the world to become largely decentralized crypto. Often your assets are not insured, and you're responsible for setting up your own security. Plus, transferring money is a task when you start- and there's no customer service to call. But crypto is being used, and it has been madly profitable to this point.
Thats because its a Ponzi scheme.
In other words wrote:
ccrryypptt wrote:
I don't know what happened. But doesn't surprise me. I'm pro Crypto when it comes to making money. But I would not want the world to become largely decentralized crypto. Often your assets are not insured, and you're responsible for setting up your own security. Plus, transferring money is a task when you start- and there's no customer service to call. But crypto is being used, and it has been madly profitable to this point.
Thats because its a Ponzi scheme.
Google, Amazon, Microsoft, Tesla, Nvidia, Mastercard, Visa all partner with Crypto. Go tell them it's a ponzi scheme.
Buttcoin wrote:
Maybe...... wrote:
You have to figure exchanges into that where probably the majority is. A lot of people confuse exchanges for whales.
You mean like this?
https://twitter.com/whale_alert/status/1481969507010818052?s=21To me it looks like major liquidity issues throughout crypto space due to fraud because a crypto doesn’t produce anything, doesn’t generate income, so the only thing entering the system is what a gambler wants to pay in fiat to enter the shtcoin exchanges, so the shtcoin exchanges have to be able to cover their positions if any gamblers want to liquidate (ie convert crypto shtcoin to fiat)
Essentially venture capitalists and certain segments of mainstream media advertising are only interested in the crypto space because it’s a pure marketing gig for gambling platforms in the USA. That’s essentially the entire business of crypto. Casino game. That’s its utility. So it has some utility in shifting around money from losing gamblers to a few winners . It’s quite predatory on the poor . Other than that the entire crypto space isn’t good for anything except advertising and taking people’s monies to gamble in some gambler’s hopes of making it big as there is no way this junk will ever be used as a currency. The hopes of making it big, like lottery tickets purchased at gas stations, tend to attract a lower to lower middle class demographic which has a lot in common with Mag@ folks and what they strive for in life.
So, lets see...you think the 2 trillion dollar market cap is all from the poor.
Ok! I suspect you didn't pass many of your grades at school.
In other words wrote:
ccrryypptt wrote:
I don't know what happened. But doesn't surprise me. I'm pro Crypto when it comes to making money. But I would not want the world to become largely decentralized crypto. Often your assets are not insured, and you're responsible for setting up your own security. Plus, transferring money is a task when you start- and there's no customer service to call. But crypto is being used, and it has been madly profitable to this point.
Thats because its a Ponzi scheme.
Ah yep, just like the stock exchange is. Ok, I'm with you there!
Maybe...... wrote:
Buttcoin wrote:
You mean like this?
https://twitter.com/whale_alert/status/1481969507010818052?s=21To me it looks like major liquidity issues throughout crypto space due to fraud because a crypto doesn’t produce anything, doesn’t generate income, so the only thing entering the system is what a gambler wants to pay in fiat to enter the shtcoin exchanges, so the shtcoin exchanges have to be able to cover their positions if any gamblers want to liquidate (ie convert crypto shtcoin to fiat)
Essentially venture capitalists and certain segments of mainstream media advertising are only interested in the crypto space because it’s a pure marketing gig for gambling platforms in the USA. That’s essentially the entire business of crypto. Casino game. That’s its utility. So it has some utility in shifting around money from losing gamblers to a few winners . It’s quite predatory on the poor . Other than that the entire crypto space isn’t good for anything except advertising and taking people’s monies to gamble in some gambler’s hopes of making it big as there is no way this junk will ever be used as a currency. The hopes of making it big, like lottery tickets purchased at gas stations, tend to attract a lower to lower middle class demographic which has a lot in common with Mag@ folks and what they strive for in life.
So, lets see...you think the 2 trillion dollar market cap is all from the poor.
Ok! I suspect you didn't pass many of your grades at school.
There’s no way it’s a $2T market backed by fiat. I would agree it’s $2T in Tether and stableshtcoin only (on paper). That is, If there’s a bank run like in the 1920s we’ll see who gets any of their fiat back
The truth about this space:
https://youtu.be/isxZ_zKvqCkMaybe...... wrote:
Ah yep, just like the stock exchange is. Ok, I'm with you there!
Stock exchange has securities laws
ccrryypptt wrote:
In other words wrote:
Thats because its a Ponzi scheme.
Google, Amazon, Microsoft, Tesla, Nvidia, Mastercard, Visa all partner with Crypto. Go tell them it's a ponzi scheme.
Not really. Tesla started selling trinket items in doge coin. You can buy a redneck Tesla Texas cowboy belt for like 835 dogecoin ( as of this hour that’s approX $155 usd) and look like a fcking douche bag. Maybe if you jerk off the next hour dogecoin will change in value and you’ll be able to get the belt buckle for 700 doge shtcoin ( US$130). Is this the future of finance?
https://www.reddit.com/r/Buttcoin/comments/s3l4p7/tesla_begins_accepting_doge_for_accessories/?utm_source=share&utm_medium=ios_app&utm_name=iossmfElon and Tesla should be investigated by SEC for market manipulation. Tether is a criminal enterprise
It's been 13 years of probability and utility, with worldwide adoption, by that definition any company started in the last 13 years is also a Ponzi scheme 🤣
yargl wrote:
It's been 13 years of probability and utility, with worldwide adoption, by that definition any company started in the last 13 years is also a Ponzi scheme 🤣
It’s been 13 years and it’s become a gambling platform to take advantage of poor people with a nice Ponzi casino game going for it
https://youtu.be/0dJNqc6qsEAAnother good one