/biz/ - Business & Finance

[Anonymous No.21040964]

Is cryptocurrency just one big elaborate scam/business?

Bitcoin can only be used to buy porn and kratom.
Ethereum is slow and expensive and barely ready for launch.
Link is a scam. (Get dumped on by founder)
XRP is a scam. (Get dumped on by founder)
Everything else, scam.
Whole market is freely manipulated by whales.
The whales are either founders or drug dealers.
Etc etc etc

I'm actually starting to think it's impossible to make it anymore with crypto. The whole market is manipulated so that whales get richer and bagholders lose money.
It's all so fucking tiresome. None of it even works.

[Anonymous No.21041109]

>The whole market is manipulated so that whales get richer and bagholders lose money.
If you believe that then just hold BTC. Nothing more. It's designed to avoid that very issue.

[Anonymous No.21041140]

>>21040964
>Is cryptocurrency just one big elaborate scam/business?
Yes and no.
World changing tech, 90% scams around that tech. Don't think of crypto tokens as moneys or stocks, even though they can be both of those things.
LINK isn't a scam however there's almost no way for anyone to anticipate what LINK or any of the other cryptos should be worth.
The price discovery of different blockchain tokens is still denominated in fiat central banker moneys, and therefore are highly speculative at the moment.

[Anonymous No.21041167]

>>21040964
>Bitcoin can only be used to buy porn and kratom.
I bought a couple beers with bitcoins at a local pizza shop.

[Anonymous No.21041729]

>>21040964
It's too hard for normies to use, they can't even begin to understand it. The entire crypto economy is based on high IQ Chad's like us trading it around. Which isn't a good thing. Most people can barely figure out how to send an email and you expect the world to adopt crypto? Sure some companies try to make it normie friendly but now we just have the same problem we did with the banks of centralized entities controlling everyone's money

[Anonymous No.21041848]

There is some legitimately innovative and potentially useful technology here but the majority of the financial side of this market is complete hot air. 98% of these tokens just flatly do not need to exist and even the ones that have some legit use case could probably just be done using ether if the teams didn't need to raise ICO money.

That said it doesn't matter. The space is still tiny $ wise and it looks like it's gearing up for another post halving bubble so don't take shit too seriously, follow the hype trains and volume, and remember to cash out this time other than maybe a little BTC just to see if it ever goes to a million each.

[Anonymous No.21042847]

>>21040964
>Bitcoin can only be used to buy porn and kratom.
wrong, the purpose of bitcoin and cryptos are a savings account protected from inflation, its not meant to be used as everyday money.

[Anonymous No.21042866]

>>21041109
>It's designed to avoid that very issue.
elaborate?

[Anonymous No.21042935]

>>21040964

>eth is slow and barely ready for launch

Lel

[Anonymous No.21043175]

>>21040964
First time on /biz/? Wait until you realize that the whole "real" economy is exactly the same. The game is rigged. Now either profit from it or go back to wagecucking.

[Anonymous No.21043261]

>>21042866
You're fucking stupid if you bought any BTC without knowing it's a store of value.

[Anonymous No.21043530]

>>21043175
Amen

[Anonymous No.21043708]

>>21040964
BAND increased %40,000 in 5 months. If you had invested 25k you'd already be a millionaire with no effort on your part (swinging, day trading, trading shitcoins, futures, options). You can absolutely make it crypto, but not if your idea of "making it" is throwing chum change at something and hoping it does a x1000 overnight.

[Anonymous No.21043807]

>>21043708
So it's gambling then, great.

[Anonymous No.21043867]

>>21043807
Trading is gambling, yes.

[Anonymous No.21044054]

Have any of you ever actually used ETH? How is it fucking slow or expensive?