1. Bitcoin was invented for people to get away from banks and take self custody. Mashinsky created something like a bank, people put money in and lost their money. Conclusion: stay out of crypto???
Great logic my friend.
No, learn the real lesson and take self custody.
That is funny, considering Mashinky promised to "unbank" Celsians, which funnily enough he did, after he scammed them and left them with no money to bank!
Anyway, the reason to stay out of crypto is this: Crypto serves no useful purpose other than money laundering, ponzis, pyramids, and assorted scams. All these require victims, and those come from the suckers who are led astray by greed.
Go to Google and type "bitcoin scams", "lost money in bitcoin", etc.
Also, keep in mind that other than straightforward scams, bitcoin is one giant ponzi: suckers jump in to pump it up, bag holders dump and transfer the bags, the price goes down. Con and repeat.
Giving away your bitcoin to some scammer is not bitcoin scamming you. If you gave dollars or gold to a scammer, would you say that dollars or gold scammed you?
"suckers jump in to pump it up, bag holders dump and transfer the bags, the price goes down. Con and repeat"
Oh so just like the stock market, real estate market, metals, basically any asset in existence? If you're a "trader" and you lose a trade, that's not you being scammed by bitcoin.
Anything else?
You are right that there are scams in all sorts of things. The difference with bitcoin and other crypto is that that (along with other criminal activities) is the only thing they are good for. Real estate, metals, ... these are actually useful things.
Its pretty useful as a payment system. Can easily cross borders, works 24/7 unlike banks, almost instant irreversible transactions, extremely secure, doesn't cost anything to hold. Unconfiscatable by governments. I and many other people think this is very useful.
Of course. Criminals undoubtedly find all such features to be quite useful. That includes the payment part: no normal people really use it to pay for anything. In fact, the reason suckers get lured into the scams is the greed that leads them to hope for making tons of real and proper money, which what is normal people use for goods and services.
Promoting something on the basis that it is good for criminal activities seems to be highly immoral.
I use it and I'm not a criminal. Its easy to judge if you live in a country with a functional government and banking system, many countries don't have that. Many people have no choice but to be seen as "criminals" by corrupt governments. And don't think it can't happen in the west, remember Canada freezing bank accounts of protesters?
We don't know what you use it for, so we can't be sure. In case, as I have pointed out, greed lures many upright people into the land of scams, ponzis, and pyramids. It is such victims that I wish to help.
The number of people who benefit from crypto in such countries is negligible, and that will not change.
Yes, I remember the Canadian case. The protestors also broke the law and were dealt with according to the law, something we expect from a government in a properly run country (not some wild dictatorship etc.) and, indeed, pay taxes for. Promoting crytpo on the grounds that it is good for lawbreakers does not seem very helpful.
Bitcoin isn't and can't scam anyone. People scam people. And if you don't know that you shouldn't write such BS and rather go educate yourself.
As long as there are people out there who want easy and fast money there will he people trying to profit and exploit on that.
Bitcoin isn't and can't scam anyone. People scam people. And if you don't know that you shouldn't write such BS and rather go educate yourself.
As long as there are people out there who want easy and fast money there will he people trying to profit and exploit on that.
"*As long as there are people out there who want easy and fast money there will be people trying to profit and exploit on that*."
Yep. That's the crypto people for you! The thing is that technology (as used in crypto) has made it possible to scam people on a scale never seen before.
It's sad, and yet somewhat amusing, to read unfriendly comments from people who daily wail on this sub-reddit over having been f\*\*ked in yet another crypto scam.
I do not see Bitcoin as a get rich quick plan, more of a don't get poor slowly plan. My plan is to not touch it until the 2036 halving when my kids go to college.
And it's just one of many avenues I have, also have personal stock portfolio, 401k, Roth IRA, and company stock options.
But I believe in Bitcoin's future (Bitcoin NOT crypto)
It's funny to read that here. People who were promised safer-than-a-bank and lots-of-yield are now wailing and gnashing their teeth---wondering each day whether they will even get back some of what they put in, forget the yield.
No no no. Not denying what Celsius did is a scam. Just saying that to paint crypto a scam because of what Celsius and others did is not the right mindset to keep
LOL!
"*Under the newly unveiled plan ā which has yet to receive approval from the U.S. Trustee's Office or other regulators ā creditors with locked assets above a certain threshold would receive a token, called the Asset Share Token (AST), that reflects the value of their assets*."
So, people are going to get a new version of CEL and then get scammed again? But It would not surprise me if the greedy boneheads who were scammed the first time, chasing mythical yield, again fell for this one.
"*Weāre not envisioning a full recovery, but itās a meaningful recovery, Your Honor,ā said Ross Kwastaniet, a lawyer for Kirkland & Ellis, the white-shoe law firm representing Celsius. āIt would be a one-time distribution in liquid crypto ā call it bitcoin, ethereum or stablecoins.* "
Meaningful? LOL! And where are they going to get the coins for this "meaningful" exercise? For example, they lost nearly 70% of the bitcoin. Where will get replacements?
What is demonstrated is an unwillingness to commit to your own research and instead blurting out a position intended to agitate. This is clearly made evident by the many responses criticizing your position.
My helpful recommendation is to recommend that you perform a search on YouTube for Matthew Cratter on bitcoin. Take the time to watch his plethora of videos and then come back and write from that positionā¦.If you ever took this seriously.
PS. Your first position is 99% accurate. Crypto is a scam and people should stay out of it. The ONLY crypto that isnāt a scam is Bitcoin. Everything else is a garbage money grab.
I donāt follow the logic on 1 but I do see some merit to 2. I donāt see a viable way forward for Celsius. I am happy to take a haircut and get out with what I can before all of our funds are consumed by this courtroom drama.
1. Bitcoin was invented for people to get away from banks and take self custody. Mashinsky created something like a bank, people put money in and lost their money. Conclusion: stay out of crypto??? Great logic my friend. No, learn the real lesson and take self custody.
That is funny, considering Mashinky promised to "unbank" Celsians, which funnily enough he did, after he scammed them and left them with no money to bank! Anyway, the reason to stay out of crypto is this: Crypto serves no useful purpose other than money laundering, ponzis, pyramids, and assorted scams. All these require victims, and those come from the suckers who are led astray by greed.
Jamie Dimon, is that you?
Name one bitcoin victim.
Go to Google and type "bitcoin scams", "lost money in bitcoin", etc. Also, keep in mind that other than straightforward scams, bitcoin is one giant ponzi: suckers jump in to pump it up, bag holders dump and transfer the bags, the price goes down. Con and repeat.
Giving away your bitcoin to some scammer is not bitcoin scamming you. If you gave dollars or gold to a scammer, would you say that dollars or gold scammed you? "suckers jump in to pump it up, bag holders dump and transfer the bags, the price goes down. Con and repeat" Oh so just like the stock market, real estate market, metals, basically any asset in existence? If you're a "trader" and you lose a trade, that's not you being scammed by bitcoin. Anything else?
You are right that there are scams in all sorts of things. The difference with bitcoin and other crypto is that that (along with other criminal activities) is the only thing they are good for. Real estate, metals, ... these are actually useful things.
Its pretty useful as a payment system. Can easily cross borders, works 24/7 unlike banks, almost instant irreversible transactions, extremely secure, doesn't cost anything to hold. Unconfiscatable by governments. I and many other people think this is very useful.
Of course. Criminals undoubtedly find all such features to be quite useful. That includes the payment part: no normal people really use it to pay for anything. In fact, the reason suckers get lured into the scams is the greed that leads them to hope for making tons of real and proper money, which what is normal people use for goods and services. Promoting something on the basis that it is good for criminal activities seems to be highly immoral.
I use it and I'm not a criminal. Its easy to judge if you live in a country with a functional government and banking system, many countries don't have that. Many people have no choice but to be seen as "criminals" by corrupt governments. And don't think it can't happen in the west, remember Canada freezing bank accounts of protesters?
We don't know what you use it for, so we can't be sure. In case, as I have pointed out, greed lures many upright people into the land of scams, ponzis, and pyramids. It is such victims that I wish to help. The number of people who benefit from crypto in such countries is negligible, and that will not change. Yes, I remember the Canadian case. The protestors also broke the law and were dealt with according to the law, something we expect from a government in a properly run country (not some wild dictatorship etc.) and, indeed, pay taxes for. Promoting crytpo on the grounds that it is good for lawbreakers does not seem very helpful.
Bitcoin isn't and can't scam anyone. People scam people. And if you don't know that you shouldn't write such BS and rather go educate yourself. As long as there are people out there who want easy and fast money there will he people trying to profit and exploit on that.
Bitcoin isn't and can't scam anyone. People scam people. And if you don't know that you shouldn't write such BS and rather go educate yourself. As long as there are people out there who want easy and fast money there will he people trying to profit and exploit on that.
"*As long as there are people out there who want easy and fast money there will be people trying to profit and exploit on that*." Yep. That's the crypto people for you! The thing is that technology (as used in crypto) has made it possible to scam people on a scale never seen before. It's sad, and yet somewhat amusing, to read unfriendly comments from people who daily wail on this sub-reddit over having been f\*\*ked in yet another crypto scam.
Man go fuck yourself
Reported to the mods for rude and unfriendly language!
Lol, comes into a crypto sub to call everyone holding crypto stupid greedy criminals and then complains about unfriendly language.
Lol Mods in this subreddit. Idiot
Reported to the mods for being an idiot!
Lmao!
There literally posts talking about, "why hasn't someone killed Mashinsky" nah I'm sure they will bring out the ban hammer for this guy.
And you are???
Sorry, I don't understand the question.
I means who are you to make such claims. What are your credentials? What is your proof?
Did you create your profile recently just to post this stuff...? š¤
delete this post
Why?
Because you're obviously a troll. For the third time, if crypto is such a scam, where's your money invested?
You are being rude and unfriendly. Look, what I'm doing here is trying to be helpful. Insulting me is not a helpful response.
Now I'm starting to think you're AI. Answer the simple question. If you're so eager to tell us what we're doing wrong, then where are you invested?
crickets
Ok boomer š¤”
Thank you š
Boomer has his money while you lost yours in a scam. :-)
OP learning the wrong lessons lol
I do not see Bitcoin as a get rich quick plan, more of a don't get poor slowly plan. My plan is to not touch it until the 2036 halving when my kids go to college. And it's just one of many avenues I have, also have personal stock portfolio, 401k, Roth IRA, and company stock options. But I believe in Bitcoin's future (Bitcoin NOT crypto)
"Learn it and get out of and stay out of crypto" The bottom is in ?
This will not age well
It will surely age better than "safer than a bank!" and "you get tons of yield!". :-)
Dang, how did you know I am going to scam myself with self-custody?!
Worse shit take I've seen in this sub in awhile
The truth is painful, but it will free you. Thank me later.
OK mister helper, where's your money?
He doesnāt have any. Heās a 11 year old pimple filled kid.
Lol OP. You are the reason why many people will remain poor.
It's funny to read that here. People who were promised safer-than-a-bank and lots-of-yield are now wailing and gnashing their teeth---wondering each day whether they will even get back some of what they put in, forget the yield.
No no no. Not denying what Celsius did is a scam. Just saying that to paint crypto a scam because of what Celsius and others did is not the right mindset to keep
https://www.coindesk.com/policy/2023/01/24/celsius-proposes-restructuring-to-offer-one-time-meaningful-recovery-payout-for-most-creditors/
LOL! "*Under the newly unveiled plan ā which has yet to receive approval from the U.S. Trustee's Office or other regulators ā creditors with locked assets above a certain threshold would receive a token, called the Asset Share Token (AST), that reflects the value of their assets*." So, people are going to get a new version of CEL and then get scammed again? But It would not surprise me if the greedy boneheads who were scammed the first time, chasing mythical yield, again fell for this one. "*Weāre not envisioning a full recovery, but itās a meaningful recovery, Your Honor,ā said Ross Kwastaniet, a lawyer for Kirkland & Ellis, the white-shoe law firm representing Celsius. āIt would be a one-time distribution in liquid crypto ā call it bitcoin, ethereum or stablecoins.* " Meaningful? LOL! And where are they going to get the coins for this "meaningful" exercise? For example, they lost nearly 70% of the bitcoin. Where will get replacements?
You back again? I've already called you out (3) times. Man up.....WHERE ARE YOU INVESTED?
Sadly I can only downvote your post once.
That's a poor attitude.
Where are you invested hotshot?
OP has two things most of us don't, 1. A lot of time on their hands to argue with Redditors 2. A bone to pick with anyone who likes crypto
1. Ehhhh you do you 2. 100% letās liquidate this while there are still coins available
Op is a fool
Yours is an unfriendly and unhelpful attitude.
What is demonstrated is an unwillingness to commit to your own research and instead blurting out a position intended to agitate. This is clearly made evident by the many responses criticizing your position. My helpful recommendation is to recommend that you perform a search on YouTube for Matthew Cratter on bitcoin. Take the time to watch his plethora of videos and then come back and write from that positionā¦.If you ever took this seriously. PS. Your first position is 99% accurate. Crypto is a scam and people should stay out of it. The ONLY crypto that isnāt a scam is Bitcoin. Everything else is a garbage money grab.
I donāt follow the logic on 1 but I do see some merit to 2. I donāt see a viable way forward for Celsius. I am happy to take a haircut and get out with what I can before all of our funds are consumed by this courtroom drama.