Tulip bulb manias are fun for all until the wilting and pedals start falling off.
BTC futures hit $25k this morning.
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Never understood what’s the value in bitcoins...
You only lose value if you sell. Crypto-currency isn’t going anywhere. One country has actually adopted it as official currency.
I think it was always a scam. The only thing it was ever used for as money was years ago when people bought illegal drugs. After it blew up it was only used for speculation, get rich quick scams, money laundering and ransom payments.
Ping!
They have accounts. Every Bitcoin has a unique ID number.
People who bought Coinbase stock might lose all their money.
But, if your Bitcoins all have unique numbers, how can someone else spend them?
Dunning-Krugerrands are above and beyond criticism.
And don’t ask too many questions, either, as the standard answer is: “If you don’t understand blockchain, I ain’t got time to try and explain it to you. All you need to know is that it WORKS, and that Bitcoin is the future!”
LOL! The downturn could prove permanent! You’ve just gotta love the fear porn they are peddling. Does anybody think the price downturn in stocks in permanent? Its basically the same thing. Of course those who haven’t bothered to study or learn why crypto currencies are will spout the usual “tulip bulbs....1s and 0s” ignorance.
Crypto is still in its early stages and is still quite volatile. As such it is subject to brutal downturns....before it has head spinning upturns. It has gone through this several times before. I and everybody I know in crypto is not panicking. Quite to the contrary, we are diving in and scooping up as much as we can at these prices. This represents a wonderful buying opportunity.
I forgot to add about Coinbase....yes it had a downturn after making staggering profits last year. Yes it “could” go belly up though its very very far from doing so and has major financial backing. Yes if it does and you leave a bunch of your crypto on the exchange you could lose it in that case.
Solution? Don’t leave your crypto on the exchange. You shouldn’t be doing that anyway. As the old saying in crypto goes, not your keys, not your coins. That means if you want your coins to be secure hold them yourself in a crypto wallet or even better still in a cold storage wallet like my Nano X Ledger.
The warning in the SEC filing was legally required. It doesn’t mean Coinbase is going bankrupt. Also, after buying coins on the exchange, you should transfer them to your own wallet. If you do that, they’re safe.
This is much ado about nothing, and I’m buying more.
The ‘pin’ is about to burst a huge bubble.
Coinbase also said, in the next sentence, that they still had billions in cash and there was next to zero chance of bankruptcy.
Not a good idea to invest in fake money that is redeemable for fiat currency which is based on the slogan “backed entirely by the full faith and trust of the government.”
So in light of the Supreme Court leak, sell the crypto and buy shares of Trojan.