THE CRYPTO CRASH HAS DESTROYED A TRILLION DOLLARS IN WEALTH

Futurism ^ | 22 January 2022 | Abby Lee Hood

[Scarlett156]

*runs to cash machine to cash out bitcoin*

*gets an error message*

*waits patiently*

[Kriggerel]

Dunning-Krugerrands.

[Jhadur]

You cannot destroy wealth. Crypto is just more of the “imaginary bull**** wealth”...intagible assets are not assets at all, just deception.

[KC_Lion]

Crypto and Gold & Silver Ping.

[Delta 21]

I just got my Compaq Presario rigged for Bitcoin. I’m gonna be rich!

[KC_Lion]

[punknpuss]

I admit I’m a doofus, but what is the value of crypto-currency based on? What is it tied to? I’m just confused.

[Scarlett156]

But people do really get their real bank accounts wiped out. (Of course, we would always argue about whether money in the bank is real or not!)

[Fido969]

what is the value of crypto-currency based on?

You've heard of "fiat money" which is based on the faith and credit of t

[Mr. K]

The way it was explained to me was like this:

Let’s say you go across the Sea to mine for A precious rock.

On the way back the rock falls overboard. You still own the Rock but it’s at the bottom of the Sea.

Since you own it, you can sell it to somebody else willing to buy it.

That’s what you’re buying when you buy bitcoin.

No I am not kidding.

[Scarlett156]

“Verified transactions.” So haha!

[Berosus]

I don’t understand the concept of crypto-currency either. It seems to be based on nothing.

[AZJeep]

Yes. The real value of Bitcoin = $ 0.000 !

[Fido969]

what is the value of crypto-currency based on?

You've heard of "fiat money" which is based on the faith and credit of the United States? When crypto-currency is based on NOTHING.

[corkoman]

Buying opportunity - I buy more at every downswing. Its volatile and not for “nest egg” funds.

[butlerweave]

Is it designed to up and up and then crash ? LOL

[Governor Dinwiddie]

#12: "I don't understand the concept of crypto-currency either. It seems to be based on nothing."

Apparently you really do understand the concept of crypto-currency. When the SHTF try buying a loaf of bread with "crypto-currency". If that doesn't work, try a cabbage patch doll.

[punknpuss]

I cannot imagine thinking that I owned something that someone, whose reputation and character are unknown to me, sold to me for hard cash and I can’t see it or touch it. Maybe I would buy it if I could tell him I’m a Nigerian princess with a 10 million inheritance that I can’t get my hands on right now and he’d have to sell “it” based on my claim.

[Antoninus]

Imaginary currency is unstable? Who’d a thunk it? Next, they’ll be telling us that fiat currency is subject to inflation. Pffft.

[dirtboy]

Crypto always smelled too much like tulips to me.