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That's why I am not a fan of cryptocurrencies

Discussion in 'General Chat' started by qwikad.com, Apr 24, 2021.

  1. #1
    qwikad.com, Apr 24, 2021 IP
    SEMrush
  2. jrbiz

    jrbiz Acclaimed Member

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    #2
    My problem with crypto is that there is no "authority" you can go to if something goes wrong. At least with banks or the stock market or real estate or just about any other investment, you have regulating authorities and the courts in the jurisdiction to go to with issues. With crypto, I am not aware of any such options should you get cheated or something else goes bad. Hard to base investment decisions based on such an unregulated industry.

    BTW, the volatility you cite does not bother me: there is always volatility in "gambling" investments like crypto, the stock market, real estate, etc.
     
    jrbiz, Apr 24, 2021 IP
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  3. directoryman

    directoryman Well-Known Member

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    #3
    Bitcoin's rebounding!! However, I did notice my bitcoin transaction fees are higher than before. This is no longer a benefit vs. regular banking.
     
    directoryman, Apr 24, 2021 IP
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  4. mmerlinn

    mmerlinn Prominent Member

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    #4
    Crypto is nothing more than trading WORTHLESS electrons. Sooner or later the whole Ponzi scheme will come crashing down.
     
    mmerlinn, Apr 24, 2021 IP
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  5. AppyArry

    AppyArry Active Member

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    #5
    I am a fan of crypto since the time, it was not legal in many countries. Specially, Bitcoin. Everybody is aware about the risk involve here and still continue to buy cryptos, as if it is going to make everyone rich soon.
    Well, what is the use of investing in any crypto, where even if you invest and can see the profit, you won;t be able to withdraw. And this is the case that had happened with thousands of investors. Many stories on this where there is no use of making ton's quickly and not able to use it as a cash.

    I still wonder, what it is going to bring.
     
    AppyArry, May 1, 2021 IP
  6. etc

    etc Well-Known Member

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    #6
    it bounced back though. and the altcoins are also pumping.
     
    etc, May 2, 2021 IP
  7. Ener18

    Ener18 Peon

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    #7
    i think it s because the bear market will start soon
     
    Ener18, May 2, 2021 IP
  8. mmerlinn

    mmerlinn Prominent Member

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    #8
    Of course it bounced. EVERY balloon bounces unless it is punctured.
     
    mmerlinn, May 2, 2021 IP
  9. etc

    etc Well-Known Member

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    #9
    well it started with zero though. the bubble pop back in 2018 down to $3k. and it bubbled again which institutions like Paypal, visa, JPmorgan and the rest are buying BTC.
     
    etc, May 4, 2021 IP