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Bitcoin lost over 60% of its value in 2022 — here’s how much 6 other popular cryptocurrencies lost [hint: WAY more]
cnbc ^ | 12/23/22 | Cheyenne DeVon

Posted on 12/30/2022 6:42:40 AM PST by catnipman

It’s been a brutal year for the cryptocurrency market.

In the latest blow to the crypto space, Core Scientific, one of the largest publicly traded crypto mining companies in the U.S, which primarily mints bitcoin, filed for bankruptcy on Dec. 21, citing falling crypto prices and rising energy costs.

And the implosion of FTX, a now-bankrupt crypto trading platform that was once valued at $32 billion, has shattered investors’ confidence as the ripple effects of the company’s collapse continue to spread throughout the crypto industry.

“Many Americans are coming to realize that cryptocurrency is just a speculative mania and the industry is rife with crooks,” James Royal, principal reporter at Bankrate, tells CNBC Make It.

To that point, about 60% of Americans now believe investing in digital currency is highly risky — up from 45% in 2021

Prices are likely to fall further when “traders and crypto companies begin to see that they don’t have an unending stream of marks [greater fools] willing to prop up crypto prices,” Royal says.

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; Crime/Corruption; Culture/Society; News/Current Events
KEYWORDS: crypto
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To: E. Pluribus Unum

US Dollar is valuable BECAUSE THE FEDERAL GOVERNMENT HAS POWER TO TAX THE LARGEST ECONOMY IN THE WORLD. So simple reason, I am shocked a man of your intelligence and knowledge did not know.


41 posted on 12/30/2022 8:42:49 AM PST by entropy12 (Food is most popular anxiety drug, exercise is the least popular.)
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To: entropy12

You mean the corrupt feral government that is looting the treasury and laundering it through fake cryptocurrencies and transferring it to their pockets?

That feral government?


42 posted on 12/30/2022 8:44:56 AM PST by E. Pluribus Unum (The worst thing about censorship is ████ █ ██████ ███████ ███ ██████ ██ ████████.)
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To: E. Pluribus Unum

Yap, the corrupt, socialist and idiotic government has this enormous power to tax us at whatever rate it wants. That is the only reason Dollar has been strong lately.


43 posted on 12/30/2022 8:54:03 AM PST by entropy12 (Food is most popular anxiety drug, exercise is the least popular.)
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To: entropy12

Not for much longer.


44 posted on 12/30/2022 9:39:52 AM PST by E. Pluribus Unum (The worst thing about censorship is ████ █ ██████ ███████ ███ ██████ ██ ████████.)
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crypto will exist for as long as leftist billionaires and democrats can use it to launder money


45 posted on 12/30/2022 10:01:01 AM PST by dsrtsage ( Complexity is just simple lacking imagination)
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To: catnipman
"Americans are coming to realize that cryptocurrency is just a speculative mania..."

.

Rare Tulip variety - 2 bulbs for $12.99. (Marked down from $17.28)


46 posted on 12/30/2022 11:06:16 AM PST by GaltAdonis
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To: entropy12

“That is the only reason Dollar has been strong lately.Z”

that and the fact that it still functions as the world’s reserve currency because it’s still the most stable currency in the world ...


47 posted on 12/30/2022 12:01:51 PM PST by catnipman (In a post-covid world, ALL "science" is now political science: stolen elections have consequences)
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To: E. Pluribus Unum; entropy12

“How is a US dollar valuable?”

because it’s the unit of account, medium of exchange, and store of value in the U.S. economy ... in other words, you can buy stuff with it ... try to buy everyday consumables, electronics, pay utility bills, pay taxes, or pay a mortgage or car loan with anything else and you’ll understand the answer to your question ...


48 posted on 12/30/2022 12:06:17 PM PST by catnipman (In a post-covid world, ALL "science" is now political science: stolen elections have consequences)
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To: HighSierra5

“You gotta be one stoopid sumbich to get in on the tail end of this ponzi scheme.”

indeed ... and guess who the big losers were in crypto in 2022? yep, the stoopid and greedy sumbiches ... unfortunately, they’re the ones who can least afford to be fleeced ... but that’s always the case with Ponzi bubbles ... the rich crooks fleece the poor folk ...


49 posted on 12/30/2022 12:10:51 PM PST by catnipman (In a post-covid world, ALL "science" is now political science: stolen elections have consequences)
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To: catnipman

Not for much longer.

The social credit system and fifteen minute cities are taking its place.

You will own nothing and they will own everything.


50 posted on 12/30/2022 12:12:03 PM PST by E. Pluribus Unum (The worst thing about censorship is ████ █ ██████ ███████ ███ ██████ ██ ████████.)
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To: catnipman

https://rumble.com/v22266j-fury-at-15-minute-prison-cities-boils-over.html


51 posted on 12/30/2022 12:14:57 PM PST by E. Pluribus Unum (The worst thing about censorship is ████ █ ██████ ███████ ███ ██████ ██ ████████.)
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To: entropy12

Treadmills are boring. But I go there (heath club) once a month to see what me heart rate is.....Get outside and walk on the Pensacola Beach


52 posted on 12/30/2022 4:06:18 PM PST by dennisw ("You don't have to like it. You just have to do it")
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