Current issues with the market - Any ideas on avoiding the end?

[DumbDude42]

Crypto has to offer something that will make people want to use it over regular currency. It doesn't have that

it does have that: buying drugs off darknet markets, can't really do that with cash.

problem of course is that when the only actual use case of it is illegal activity on online black markets then it will never be seen as legitimate by wider society.

 

[Hollywood Hulk Hogan]

If you're that risk-averse, may I suggest a portfolio consisting entirely of hundred dollar bills hidden underneath a mattress?

Crypto has enough to offer to those who seek a high-risk, high-reward investment opportunity. If you're not in the position to put money into it and you're just waiting to Bobo-post whenever a dip occurs, your opinion does not matter.

I use stock index funds. Crypto is entirely based on speculation and is anything but stable. You said it's a stable currency, which I showed is not the case.

 

[Badungus Kabungus]

I use stock index funds. Crypto is entirely based on speculation and is anything but stable. You said it's a stable currency, which I showed is not the case.

Okay boomer. Crypto is not excessively volatile given its reward potential. It's not 2013 anymore, when you chime in with "muh crypto volatility" in 2021, you don't contribute anything new to the conversation and just look like an out-of-touch grandpa. Right now people who want this kind of action are aware of the risks, it's all priced in.

Also, if you can read, I said in my initial post that your statement "crypto is volatile" is an over-simplified generalization based in a lack of understanding of the crypto market.

 

[Hollywood Hulk Hogan]

Okay boomer. Crypto is not excessively volatile given its reward potential. It's not 2013 anymore, when you chime in with "muh crypto volatility" in 2021, you don't contribute anything new to the conversation and just look like an out-of-touch grandpa. Right now people who want this kind of action are aware of the risks, it's all priced in.

Also, if you can read, I said in my initial post that your statement "crypto is volatile" is an over-simplified generalization based in a lack of understanding of the crypto market.

Lol it's not volatile? It lost 50% of its value in a week. Do you not know what the word "volatile" means?

 

[Badungus Kabungus]

Lol it's not volatile? It lost 50% of its value in a week. Do you not know what the word "volatile" means?

We seem to be speaking different languages here. You're a child pointing at the sky and saying "sky is blue" and I'm trying to explain what atmospheric effects are causing it to be seen as "blue" to you.

 

[Hollywood Hulk Hogan]

We seem to be speaking different languages here. You're a child pointing at the sky and saying "sky is blue" and I'm trying to explain what atmospheric effects are causing it to be seen as "blue" to you.

My point is that cryptotards like you keep saying it's the future of currency... no one with even two brain cells is going to want a currency that can lose 50% of its value in a week.

It has to have a reason to go up in value or else it's just another speculation or pump and dump scheme. For example, I do understand the value of it for buying stuff off the dark net. But for another example, why the hell would someone buy Dogecoin? What can you do with it other than sell it to some other tard?

 

[Badungus Kabungus]

My point is that cryptotards like you keep saying it's the future of currency... no one with even two brain cells is going to want a currency that can lose 50% of its value in a week.

It has to have a reason to go up in value or else it's just another speculation or pump and dump scheme. For example, I do understand the value of it for buying stuff off the dark net. But for another example, why the hell would someone buy Dogecoin? What can you do with it other than sell it to some other tard?

You sound like a peasant who witnessed the Wright brothers' first flight. Muttering under your breath "what's the point, they've only gone 50 meters with this ridiculous contraption" and going back to plowing your dirt field.

 

[Hollywood Hulk Hogan]

You sound like a peasant who witnessed the Wright brothers' first flight. Muttering under your breath "what's the point, they've only gone 50 meters with this ridiculous contraption" and going back to plowing your dirt field.

You sound more like Wan Hu. Just hoping and praying than a retarded idea will take off.

I've already asked you and you never have been able to answer me.. why would I buy something off Amazon with crypto over my credit card? If I get screwed by the seller when I buy with my CC, I contact my credit card company and they reimburse me. If I get screwed buying with crypto, I am screwed. I get cash back over my credit card. I know the item will cost $X with my credit card, with crypto it changes by the second.

 

[Badungus Kabungus]

You sound more like Wan Hu. Just hoping and praying than a retarded idea will take off.

I've already asked you and you never have been able to answer me.. why would I buy something off Amazon with crypto over my credit card? If I get screwed by the seller when I buy with my CC, I contact my credit card company and they reimburse me. If I get screwed buying with crypto, I am screwed. I get cash back over my credit card. I know the item will cost $X with my credit card, with crypto it changes by the second.

What about people who don't have debt (aka credit cards)? Should they not be allowed to conduct digital transactions?

You don't seem to understand the difference between money you actually have, and money you borrow from the bank. This article should clarify things: https://www.investopedia.com/ask/an...nces-between-debit-cards-and-credit-cards.asp

 

[Hollywood Hulk Hogan]

What about people who don't have debt (aka credit cards)? Should they not be allowed to conduct digital transactions?

You don't seem to understand the difference between money you actually have, and money you borrow from the bank. This article should clarify things: https://www.investopedia.com/ask/an...nces-between-debit-cards-and-credit-cards.asp

Credit card and debit card, both are usually covered by the bank. There's no benefit to buying shit online with crypto vs a credit or debit card

 

[Badungus Kabungus]

Credit card and debit card, both are usually covered by the bank. There's no benefit to buying shit online with crypto vs a credit or debit card

Once again you're mixing up debt and equity. Crypto is more akin to your debit card (which no bank will refund if you lose your card and someone guesses your PIN), or a wallet full of cash (which no one will refund if you give it away to the Wallet Inspector.)

Crypto gives you the freedom to conduct digital transactions without dealing with third parties like payment processors or using a debt instrument like your bank's credit card. It gives you the freedom to use additional financial instruments that are out of reach of the average bank customer. It also gives you the freedom to make mistakes if you have the IQ of a turnip and are physically incapable of paying attention to your actions. That's all.

If that's not for you, I'm sure you'll get treated great at your nearest big bank.

 

[Spasticus Autisticus]

Crypto gives you the freedom to conduct digital transactions without dealing with third parties like payment processors or using a debt instrument like your bank's credit card.

Those third parties will have my back if I get scammed, or my package gets stolen or goes missing, etc. With crypto there is no recourse. That is not an acceptable system for 99.99% of legal use cases.

It gives you the freedom to use additional financial instruments that are out of reach of the average bank customer.

Such as?

It also gives you the freedom to make mistakes if you have the IQ of a turnip and are physically incapable of paying attention to your actions.

So do credit cards. And if you don't have the IQ of a turnip you know how to use credit responsibly, never charging more than you can pay off in full, and get rewards and cash back subsidized by the turnips paying the minimum balance every month.

 

[Badungus Kabungus]

Those third parties will have my back if I get scammed, or my package gets stolen or goes missing, etc. With crypto there is no recourse. That is not an acceptable system for 99.99% of legal use cases.

Did those third parties have Null's back when he used their services for this very forum? There's a reason this is here.

Such as?

Crypto-backed loans, decentralized insurance, lots of other DeFi goodies. DYOR.

Crypto Credit | Get a Crypto Loan Instantly | Crypto.com

Crypto Credit allows you to monetise your crypto assets without selling them. Deposit Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Lumen (XLM), EOS, and Crypto.com Coin (CRO) as collateral with a 50% Loan-to-Value (LTV) ratio. Repay any amount at any time in 12 months. Get a credit line with...

crypto.com

https://www.bridgemutual.io/

So do credit cards. And if you don't have the IQ of a turnip you know how to use credit responsibly, never charging more than you can pay off in full, and get rewards and cash back subsidized by the turnips paying the minimum balance every month.

Why bother with a credit card when I can take out a cash loan using crypto as collateral at a much better rate? Try thinking outside the commercial banking paradigm, they're just making money off you.

 

[zyclonPD]

I'm not the best person on financial stuff but I think the only way to survive what's coming is having tool to build whatever you need and be as self sufficient as possible. Have woodworking tools, wrenches, wheelbarrow, garden planted, seeds, etc. Most of my focus atm is raising a garden and getting tools I've been putting off for a long time. Also making connections with people who I can trade good with in a pure bartering system.

I think we are going to experience a great depression level of implosion and only preppers and the Amish are going to live comfortably through it.

 

[DeadFish]

I'm not the best person on financial stuff but I think the only way to survive what's coming is having tool to build whatever you need and be as self sufficient as possible. Have woodworking tools, wrenches, wheelbarrow, garden planted, seeds, etc. Most of my focus atm is raising a garden and getting tools I've been putting off for a long time. Also making connections with people who I can trade good with in a pure bartering system.

I think we are going to experience a great depression level of implosion and only preppers and the Amish are going to live comfortably through it.

Been thinking of getting the cash needed to buy the stuff to survive but its very dumb......

 

[Spasticus Autisticus]

Did those third parties have Null's back when he used their services for this very forum? There's a reason this is here.
View attachment 2185591

Donations to tranny-killing stalker sites hardly drives the kind of adoption that crypto speculators are expecting. You're talking about crypto supplanting credit cards and payment processors. This is a solved problem, and crypto doesn't solve it better. In fact, outside of libertarian fantasy fulfillment, it's worse in every way. BTW, Null still takes fiat.

Crypto-backed loans, decentralized insurance, lots of other DeFi goodies. DYOR.

Crypto Credit | Get a Crypto Loan Instantly | Crypto.com

Crypto Credit allows you to monetise your crypto assets without selling them. Deposit Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Lumen (XLM), EOS, and Crypto.com Coin (CRO) as collateral with a 50% Loan-to-Value (LTV) ratio. Repay any amount at any time in 12 months. Get a credit line with...

crypto.com

https://www.bridgemutual.io/

So, debt. But debt is OK as long as it's not backed by fiat I guess? And just as with crypto payments, what problem does DeFi solve? Why does the average person need DeFi?

Why bother with a credit card when I can take out a cash loan using crypto as collateral at a much better rate? Try thinking outside the commercial banking paradigm, they're just making money off you.

I pay zero interest on credit cards because I pay my bills in full every month. I even get paid to use my credit cards though cash back and bonuses. Why bother having to buy crypto to use as collateral for a loan when I don't need to? I haven't seen any crypto-backed loans for lower rates than I can get through a line of credit or margin from a broker.

 

[Badungus Kabungus]

Donations to tranny-killing stalker sites hardly drives the kind of adoption that crypto speculators are expecting. You're talking about crypto supplanting credit cards and payment processors. This is a solved problem, and crypto doesn't solve it better. In fact, outside of libertarian fantasy fulfillment, it's worse in every way. BTW, Null still takes fiat.

So, debt. But debt is OK as long as it's not backed by fiat I guess? And just as with crypto payments, what problem does DeFi solve? Why does the average person need DeFi?

I pay zero interest on credit cards because I pay my bills in full every month. I even get paid to use my credit cards though cash back and bonuses. Why bother having to buy crypto to use as collateral for a loan when I don't need to? I haven't seen any crypto-backed loans for lower rates than I can get through a line of credit or margin from a broker.

Sounds like you may not find any specific benefit for your use case right now, stick with your commercial bank.

For another use case, look at something like Telcoin. It allows for cheaper remittance payments between countries such as Canada and the Philippines. They're competing directly with major banks and Western Union, and managing to do so while keeping costs low by using blockchain tech. It's already integrated into the GCash system in the Philippines. It's just one of many crypto products to have a legitimate, legal use that manages to out-perform the banks. Also look up RSR, eRSDL. Don't forget about Monero.

 

[surprisemfka]

Imagine thinking central banks and fiat are going away because of crypto

 

[mindlessobserver]

Welp, phase 1 of me locking down my finances has been cleared. Now the proud owner of a house and acre of land well outside the city. Got a great fixed interest rate too. My mortgage payment will also be 20% less then what I am doing for rent right now.

Phase 2 will now be asset accumulation.

 

[knobslobbin]

Remember kiddos, when there's blood in the streets is when you should be very very greedy. It aint easy to buy low and sell high, but it sure does pay well.