Even crypto folk know it’s shady. The Bitcoin people will tell you “bitcoin isn’t crypto” to distance themselves from that mess. But all they really mean is that it’s still crypto, but a different kind of crypto which is somehow magically immune to the shortcomings of all other crypto. In other words, they’re trying to invent a linguistic difference to imply a semantic one.
Never interested in buying crypto, never will be (I’m gobsmacked there’s Bitcoin machines in grocery stores) My youngest had a FOMO reaction when DogeCoin first appeared and I talked them out of it. I used to get a lot of requests from crypto bros on Instagram but that has dried up. I guess their losses put a crimp in the come-ons. 🙄
Yep, yep! I can’t understand how any normal human with any common sense would want to spend good money on an UNREGULATED product that exists only as bits in some computer.
Unless I would trust them with $100 cash I am not going to give them my $100 for ghostly/invisible/nonexistent assets. And I don’t trust them. They are scammer and crooks. Look at that Friedman kid. People entrusted their money to a scruffy little wiseass rat and, predictably, said scruffy wiseass rat SPENT IT ON HIMSELF AND HIS FRIENDS.
I think people have some fucked up view of regulation- the Trumpy types do not understand that REGULATIONS PROTECT REGULAR PEOPLE FROM CROOKS.
What I am about to say is based upon a 40+ year career in retail banking, the last 25 years directly involved in fraud prevention and investigation.
Everyone *E*V*E*R*Y*O*N*E* who operates any sort of cryptocurrency or cryptocurrency related business is a criminal and/or knowingly aids and abets criminals. Period.
From the first time I ever heard of crypto I didn't like it.
I remember telling a friend who recommended "investing" in crypto, that it appeared to be so volatile that you'd have to spend all of your GD time monitoring your account and freaking out over every downward fluctuation, or rubbing yer horny hands together ala Scrooge McDuck as you count your un-hatched chickens. I'd rather work a regular job.
LOLOLOL! My brother in law said my financial advisors are “committing malpractice” for not getting me into cryptocurrency….my financial advisors, who I trust, told me that they would be committing malpractice if they advised me to go into crypto! Not a good investment strategy unless you like losing money.
Even tho-ugh it appears to no longer be in style, I trust an expert to give me "expert advide." Not some swinger who read a few articles and thinks they know something.
Like watching a movie called Airport then lecturing a real airline or military pilot on what "they oughta be doing!"
Exactly! My ex husband and I vetted a number of advisors and decided on the ones I have…and they have kept me safe since I divorced him more than ten years ago. They have earned my trust, which the crypto guys most certainly have not!
PS, they fired my ex as a client when he insisted that he wanted to day trade within the accounts…”not a wise investment strategy” 😝🤣🤣🤣
I'ma vest in me sum gold sneekerz n sum oh dem trump soot thredz n buy me my ownly BIDNESS wit wuts left o them pro-seeds from muh trump branddd merchundice.
Thank you for explaining & giving links to more information. I’m going to pass this onto my niece whose husband is interested in this. Not sure if it will stop him, but at least I will have tried.
Even crypto folk know it’s shady. The Bitcoin people will tell you “bitcoin isn’t crypto” to distance themselves from that mess. But all they really mean is that it’s still crypto, but a different kind of crypto which is somehow magically immune to the shortcomings of all other crypto. In other words, they’re trying to invent a linguistic difference to imply a semantic one.
Never interested in buying crypto, never will be (I’m gobsmacked there’s Bitcoin machines in grocery stores) My youngest had a FOMO reaction when DogeCoin first appeared and I talked them out of it. I used to get a lot of requests from crypto bros on Instagram but that has dried up. I guess their losses put a crimp in the come-ons. 🙄
Good column and thanks for reaffirming my initial thought on this ... it's a scam for the weak-minded. Would never do this.
Yep, yep! I can’t understand how any normal human with any common sense would want to spend good money on an UNREGULATED product that exists only as bits in some computer.
Unless I would trust them with $100 cash I am not going to give them my $100 for ghostly/invisible/nonexistent assets. And I don’t trust them. They are scammer and crooks. Look at that Friedman kid. People entrusted their money to a scruffy little wiseass rat and, predictably, said scruffy wiseass rat SPENT IT ON HIMSELF AND HIS FRIENDS.
I think people have some fucked up view of regulation- the Trumpy types do not understand that REGULATIONS PROTECT REGULAR PEOPLE FROM CROOKS.
What I am about to say is based upon a 40+ year career in retail banking, the last 25 years directly involved in fraud prevention and investigation.
Everyone *E*V*E*R*Y*O*N*E* who operates any sort of cryptocurrency or cryptocurrency related business is a criminal and/or knowingly aids and abets criminals. Period.
I see it as investing in ghosts.
From the first time I ever heard of crypto I didn't like it.
I remember telling a friend who recommended "investing" in crypto, that it appeared to be so volatile that you'd have to spend all of your GD time monitoring your account and freaking out over every downward fluctuation, or rubbing yer horny hands together ala Scrooge McDuck as you count your un-hatched chickens. I'd rather work a regular job.
He said that I was being a fool. Uh huh. Right.
LOLOLOL! My brother in law said my financial advisors are “committing malpractice” for not getting me into cryptocurrency….my financial advisors, who I trust, told me that they would be committing malpractice if they advised me to go into crypto! Not a good investment strategy unless you like losing money.
Even tho-ugh it appears to no longer be in style, I trust an expert to give me "expert advide." Not some swinger who read a few articles and thinks they know something.
Like watching a movie called Airport then lecturing a real airline or military pilot on what "they oughta be doing!"
😝🤣🤣😂😂😂😂
Exactly! My ex husband and I vetted a number of advisors and decided on the ones I have…and they have kept me safe since I divorced him more than ten years ago. They have earned my trust, which the crypto guys most certainly have not!
PS, they fired my ex as a client when he insisted that he wanted to day trade within the accounts…”not a wise investment strategy” 😝🤣🤣🤣
Hah! See? Ya needz tuh bleeve in trump!
I'ma vest in me sum gold sneekerz n sum oh dem trump soot thredz n buy me my ownly BIDNESS wit wuts left o them pro-seeds from muh trump branddd merchundice.
Take gat ya libz! I'm in da fast lane!
“Crypto assets tend to be exceedingly volatile”
A charitable way of saying they’re frequently not-worth the not-paper they’re not-printed on.
Digging a hole in the back yard and burying my life savings is sounding like a better and better idea.
Trumpers pumping intangible financial assets and putting taxpayers on the hook for it... that's SO on brand. What could possibly go wrong?!??
We. Are. Sooooo. Screwed.
Thank you for explaining & giving links to more information. I’m going to pass this onto my niece whose husband is interested in this. Not sure if it will stop him, but at least I will have tried.
Well, it’s always easy to know where you stand Geoff. That being said, a well put together post.