Crypto is for chumps.

[jonny]

Sorry if any of you are locked into this, and congratulations if you've made money, but anyone committing serious money to crypto is a sucker of the highest degree. Welcome to the domain of grifters, hackers and rug pullers.

https://www.cnn.com/2025/03/05/business/...afe-digvid

[AllGold]

:agree:

[chopper]

My son bought $500 of bitcoin in 2016 or so. He put it on a thumb drive or a hard drive and put the drive in a lockbox at the bank. He went on with his life. He forgot it was in there until he saw that his bank had extracted a mystery $22 out of his account in 2024 which he came to find out was rental on the lockbox.
Last year he bought a pretty big hobby farm. He sold all but $500 of that bitcoin at whatever the market value was. So he didn't need to borrow much to buy that new place.

[raz]

chopper wrote:
My son bought $500 of bitcoin in 2016 or so. He put it on a thumb drive or a hard drive and put the drive in a lockbox at the bank. He went on with his life. He forgot it was in there until he saw that his bank had extracted a mystery $22 out of his account in 2024 which he came to find out was rental on the lockbox.
Last year he bought a pretty big hobby farm. He sold all but $500 of that bitcoin at whatever the market value was. So he didn't need to borrow much to buy that new place.

Early investors in the pyramid always win if they get out fast enough

[Forrest]

I’m never investing in crypto - there’s no intrinsic value.

We’ve seen this scam before - Tulip futures https://en.wikipedia.org/wiki/Tulip_mania

[chopper]

Is 8 years "fast"?

raz wrote:
[quote=chopper]
My son bought $500 of bitcoin in 2016 or so. He put it on a thumb drive or a hard drive and put the drive in a lockbox at the bank. He went on with his life. He forgot it was in there until he saw that his bank had extracted a mystery $22 out of his account in 2024 which he came to find out was rental on the lockbox.
Last year he bought a pretty big hobby farm. He sold all but $500 of that bitcoin at whatever the market value was. So he didn't need to borrow much to buy that new place.

Early investors in the pyramid always win if they get out fast enough

[raz]

chopper wrote:
Is 8 years "fast"?



[quote=raz]
[quote=chopper]
My son bought $500 of bitcoin in 2016 or so. He put it on a thumb drive or a hard drive and put the drive in a lockbox at the bank. He went on with his life. He forgot it was in there until he saw that his bank had extracted a mystery $22 out of his account in 2024 which he came to find out was rental on the lockbox.
Last year he bought a pretty big hobby farm. He sold all but $500 of that bitcoin at whatever the market value was. So he didn't need to borrow much to buy that new place.

Early investors in the pyramid always win if they get out fast enough
Fast enough apparently

[Acer]

Then there's that guy who lost millions in bitcoin gain because he lost a hard drive, and there is no other way to prove the money is his.

[Forrest]

Before you invest in crypto, you should investigate what % has been stolen over the past decade and you decide if that’s acceptable.

By comparison, “ Since the FDIC was founded in 1933, no depositor has lost a penny of FDIC-insured funds.” according to FDIC

[Black]

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