Conversation

Notices

1. Embed this notice
   Aven (aven@shitposter.club)'s status on Wednesday, 13-Mar-2024 00:33:25 JST Aven

   • Sexy Moon
   @Moon when something becomes a bandwagon, all the dumb money arrives, and the scammers shortly thereafter to take it. The bad money drives out the good, and by the time the dumb money stops flowing, a lot of damage has been done, that takes a long time to heal. The scammers set up camp waiting for more dumb money, and crowd out the honest, and make the space look like a shitshow.
   
   Now I know there have been crypto scammers for about as long as there has been crypto, but it's a matter of proportion.
   
   I was looking at prices and seeing that Bitcoin Cash didn't have the same increase that Bitcoin has, and I thought what's that asshole Roger Ver up to? In my opinion, he represents part of the scammer category. From wiki:
   
   >As of June 2022, he is a shareholder in CoinFLEX, a centralized yield crypto exchange and is rumoured to be in a large amount of debt which is causing problems for the site.
   
   yeah.... sounds about right.
   • Embed this notice
     Sexy Moon (moon@shitposter.club)'s status on Wednesday, 13-Mar-2024 00:33:20 JST Sexy Moon

     in reply to
     @aven Tether is 1:1 pegged to the dollar so you are not gonna get rich "investing" in Tether
   • Embed this notice
     Aven (aven@shitposter.club)'s status on Wednesday, 13-Mar-2024 00:33:23 JST Aven

     in reply to

     • Sexy Moon
     @Moon since we're in ATH territory, I would recommend people NOT buy crypto right now. The dumb money will flow, and bubbles will pop.
     I'm not looking forward to when Tether pops, which I'm convinced is an enormous ponzi. From wiki:
     
     >Tether has been criticized for a lack of transparency and verifiability of its claimed fiat reserves. In 2021, the company was fined by regulators for only maintaining full reserves during 27.6% of the days in the period from 2016 to 2018[4] as well as for failing to present audits showing sufficient asset reserves.[5][6][7]
     
     >It is the largest cryptocurrency in terms of trading volume, commanding 64% of the market share among stablecoins and having surpassed Bitcoin in 2019 to become the most traded cryptocurrency in the world.[8][9][10] As of March 2024, Tether had over $100 billion in circulation, leading to concerns about it being a systemic risk for cryptocurrency markets and threatening the stability of wider financial markets.[11][12][13]
   • Embed this notice
     Sexy Moon (moon@shitposter.club)'s status on Wednesday, 13-Mar-2024 00:37:05 JST Sexy Moon

     in reply to
     @aven Tether is a scam, end post.
   • Embed this notice
     Aven (aven@shitposter.club)'s status on Wednesday, 13-Mar-2024 00:37:07 JST Aven

     in reply to

     • Sexy Moon
     @Moon people use it as a "stablecoin", and it's not worth 1:1 with the dollar, because it's not backed. It's worse than the dollar because it's fiat and doesn't have a nation and military behind it. When about 20% of people sell their tether, it will suddenly drop to zero value, because the 1:1 is "because we said so" fiat.