In a future where private exchanges are banned, all crypto actions can be traced and identified. The idea that crypto can solve this is a joke.
smart1 said:
In a future where private exchanges are banned, all crypto actions can be traced and identified. The idea that crypto can solve this is a joke.
You really trust the government, which often has less skilled people than those in industry.
Crypto isn’t an investment, it’s a currency.
It saw big returns before because it shifted from obscurity to mainstream, but it was never meant to be an investment. If people begin to use it for its real purpose, which is financial transactions and storage, it won’t keep its extreme price swings.
It ultimately can’t serve as a currency and a solid investment at the same time; it has to be one or the other.
@Masitsa
Some were created as currencies but became more like store of value because they couldn’t handle scaling (like bitcoin). Others are still trying to be money, but this is rare. Ethereum aims to be a useful asset.
Banks don’t always block transfers to crypto exchanges. Where did you get that idea? How do you think people use exchanges like Binance, Coinbase, and Kraken?
People transfer money from their banks to those exchanges.
@Miko
From various sources: people’s complaints and banks’ terms and policies.
Examples:
I’m not entirely sure if all banks stop accounts for transfers to crypto, but it seems only a few do.
But the stories I hear about account freezes are all really concerning and don’t inspire confidence.
How do you think people buy from exchanges?
I’m new to this, so I really don’t know. Maybe they used to be able to transfer a while back when banks weren’t as restrictive. It’s also possible they don’t buy from exchanges directly, but use P2P and trade on exchanges instead.
Not so worried about market changes, but more about the rules changing.
They may end up requiring us to show proof of earnings and a solid history of how we got our coins to convert them back into fiat, which might cut out P2P transactions. Plus, many banks would block your account for crypto activity even now.
Instead of crypto, or alongside it, consider investing in stocks? Using ETFs, the returns can be impressive. Here is a guide to do it automatically. Best of luck with your investments, and I hope you avoid scams in the future.
@Daryn
Thanks, I also invest in ETFs.
My main worry isn’t really about returns but rather safety and liquidity, being able to access my funds.
With stocks, you often lack formal ownership proof, so you’re relying on a broker to maintain your shares.
That’s why I’m starting to look into other options like crypto where I have the ability to transfer my coins to cold storage to not depend on third parties.
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100% agree, just look at Shping and their partnerships. It’s not going away; it’s expanding into two new countries, the UK and New Zealand. They have partnerships with IBM Food Trust and Coinbase with significant brands backing them up.
I think crypto is an exciting new technology that should be included in everyone’s investment strategy. Just a portion, maybe 5-10%, depending on your age and risk tolerance. But definitely don’t invest everything you have.
Devan said:
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What’s the purpose of blockchain ETFs? Most coins that aren’t jokes behave similarly, so what’s the point of spreading your investment around?
Devan said:
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What’s the purpose of blockchain ETFs? Most coins that aren’t jokes behave similarly, so what’s the point of spreading your investment around?
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@Devan
Ponzi schemes can be profitable for the investors involved, until they fail one day.
A 300% return means nothing.
Wray said:
@Devan
Ponzi schemes can be profitable for the investors involved, until they fail one day.
A 300% return means nothing.
[deleted]
Wray said:
@Devan
Ponzi schemes can be profitable for the investors involved, until they fail one day.
A 300% return means nothing.
[deleted]
I’m not talking about blockchain as a technology. Don’t twist my words.
Most tokens out there, many of which are blockchains, are just Ponzi schemes, designed for the developers to scam the investors. BTC isn’t safe from big players manipulating prices to maximize their profits at the risk of retail investors. So much for decentralization.
I’m happy for you, but don’t take too long making your decisions before you lose your profits.
Some will survive, but 99.9% will be worthless and go away. Mainly due to regulations and lack of real use. So make your move and exit before it’s too late.