When did you realize crypto was a scam?

When did you realize crypto was a scam?

  1. 3 weeks ago
    Anonymous

    when i realized it requires less capital to spin up a crypto than it does a hot dog stand

  2. 3 weeks ago
    Anonymous

    what happened with celsius? i missed it

    • 3 weeks ago
      Anonymous

      They prevented all their users from withdrawing, so you are basically beyond fucked. Coinbase and binance are also moving towards this. This market is unironically a scam. Only early investors made it, a textbook ponzi scheme.

      • 3 weeks ago
        Anonymous

        [log in to view media]

        oh shit

        • 3 weeks ago
          Anonymous

          I hope this whole market crashes and burns, it's not even a debate anymore if it's a scam. It's a fucking scam.

        • 3 weeks ago
          Anonymous

          is this legit?

          • 3 weeks ago
            Anonymous

            it was one of the first things that popped up when i searched twitter for celsius trying to catch up on news
            https://twitter.com/WatcherGuru/status/1536214132231442434

            • 3 weeks ago
              Anonymous

              Go back

              • 3 weeks ago
                Anonymous

                [log in to view media]

                it was one of the first things that popped up when i searched twitter for celsius trying to catch up on news
                https://twitter.com/WatcherGuru/status/1536214132231442434

                this autist tracked it
                they tried to cover it up too

              • 3 weeks ago
                Anonymous

                [log in to view media]

              • 3 weeks ago
                Anonymous

                [log in to view media]

                oh shit

                Good morning sirs where do I file a refund request?

              • 3 weeks ago
                Anonymous

                Unfortunately there are no refunds to be redeemed, sir

              • 3 weeks ago
                Anonymous

                Probably one of the biggest dick moves in history

              • 3 weeks ago
                Anonymous

                what type of graph is this?

              • 3 weeks ago
                Anonymous

                it's tracking the addresses they used to launder all their users money off the platform

              • 3 weeks ago
                Anonymous

                it's tracking the addresses they used to launder all their users money off the platform

                interesting - is this on a publicly available platform?
                or some open source tool?

              • 3 weeks ago
                Anonymous

                [log in to view media]

                >2 israeli scammers known to have close tie to the IDF and Unit 8200 get together to digiscam goyim for billions of USD
                imagine my fucking shock!
                When will retail n-words understand they are at fucking war with them?
                Your bank account is (((their))) battlefield. Any shekel stolen from you is a victory to them.

              • 3 weeks ago
                Anonymous

                You first, tranny.

          • 3 weeks ago
            Anonymous

            yes, it is a fully legitimate exit scam

      • 3 weeks ago
        Anonymous

        Its not ponzi scheme, the idea is that benefits for the early ones comes almost exclusively from the newer ones. If cryptos fulfill the ponzi scheme definition then so do magic cards, the early dudes won a lot of money from it and magic cards are as valuable as gold, the only diference between value and scam is to check if the one that loses is in the infinite so the value pases from imagination to real. Its retarded but not ponzi, just a bubble of speculating retards wich in case of consolidating the mental delirium transform something worthles into sort of gold (wich is worthless but its not).

        Anyways, why would you even give your bitcoins to binance or celsius if the idea is decentralizing and pulling the middle finger to classic banks? The first thing you do after scaping the scheme is giving your resources to a "bank" that has worst conditions just because they are not secured by central bank in case of bankrupcy, i just can wrap it around my head

        • 3 weeks ago
          Anonymous

          Yes, magic cards are also a ponzi scheme. Only degenerates and wholesalers view it as an investment. Crypto is that but not even fun to play.

        • 3 weeks ago
          Anonymous

          [log in to view media]

          >Its not ponzi scheme

      • 3 weeks ago
        Anonymous

        This is why I don't trust (((exchanges))) of any kind and have all my coins in my metamask.

      • 3 weeks ago
        Anonymous

        >Only early investors made it, a textbook ponzi scheme.
        Let me guess, you think Social Security is a Ponzi Scheme too.

        • 3 weeks ago
          Anonymous

          This, it's not a ponzi scheme: it's a pyramid scheme. Very different.

          • 3 weeks ago
            Anonymous

            this
            ponzi the late money coming in is locked and can't sell
            pyramid scheme people can jump ship at any point, but it still needs new people coming in to keep it afloat

    • 3 weeks ago
      Anonymous

      no more transfers or withdrawals

    • 3 weeks ago
      Anonymous

      They have a rugpull clause.

      • 3 weeks ago
        Anonymous

        which exchanges don't have rugpull clauses in their terms of service?

    • 3 weeks ago
      Anonymous

      They don’t know where your money is and are about to get called for billions in defi collateral basicall

    • 3 weeks ago
      Anonymous

      It reached the value of -273.15

      • 3 weeks ago
        Anonymous

        underrated

  3. 3 weeks ago
    Anonymous

    I had a feeling it was a scam for years but I kept coping and believing it wasn't. After the shit that has happened this last week this is unironically the largest ponzi scheme ever. Imagine putting your money into a market where top exchanges can prevent you from withdrawing.
    >Coinbase
    >Chink Bynance
    >Kraken
    I hope the people responsible for this shit get locked behind bars. They unironically destroyed millions of lives. It's over.

    • 3 weeks ago
      Anonymous

      This. The greed in this space will be it's downfall.

    • 3 weeks ago
      Anonymous

      >I hope the people responsible for this shit get locked behind bars. They unironically destroyed millions of lives
      If you're retarded enough to get trapped into such obvious scam you deserve it

    • 3 weeks ago
      Anonymous

      >I had a feeling it was a scam
      wait until you learn how the rest of the monetary system works

      • 3 weeks ago
        Anonymous

        Not him but crypto is a pretty great evil scheme. Point out how evil and corrupt the system is and provide an alternative that is equally evil and corrupt but the money flows into the hands not of the rockefellers but some tech bro lmao. Human nature is the true enemy.

    • 3 weeks ago
      Anonymous

      As if this didn't happen to real banking.
      Not 15 years ago many banks crashed because people wanted to back out at the same time.
      Capitalism is Ponzi

      • 3 weeks ago
        Anonymous

        PYRAMID, anon.

        • 3 weeks ago
          Anonymous

          The argument remains valid regardless of the terminology of the scheme

    • 3 weeks ago
      Anonymous

      I think I'm done with crypto if I ever manage to withdraw my $40,000 UST from Celsius. The whole thing just seems like a scam even if I somehow made alot of money gambling on bsc shitcoins and shib.

  4. 3 weeks ago
    Anonymous

    When a "totally not a bank" bank advertised 10% interest rates

  5. 3 weeks ago
    Anonymous

    it's not a scam, it was never supposed to be a speculative asset.

  6. 3 weeks ago
    Anonymous

    That's centralized n untransparent fractional reserve go bust. BTC solves this, unironically

  7. 3 weeks ago
    Anonymous

    How many fucking times were you told not to keep your tokens on an exchange and you fucking cocky retarded homosexual morons told us nothing will happen?

    Suck a dick. Enjoy your losses.

    • 3 weeks ago
      Anonymous

      I was there when btc-e was raided by the feds and lost my coins.
      I was there when it spun back up as wex, and disappeared, and lost more of my coins.
      I didn't learn the most valuable lesson twice.
      But I did learn this time. Don't hold your coins on an exchange.
      I took some losses in the drops because I was unable to short, and unable to buy and sell on the way down because my coins arent on an exchange. But I probably would have screwed it up and lost more anyways.
      In the end, my shrinking treasure is held by me, not some mysterious platform that we've learned again and again, cannot be trusted.

      • 3 weeks ago
        Anonymous

        [log in to view media]

        >I took some losses in the drops because I was unable to short
        some other anon was shilling this earlier
        defi futures on polygon. they can't rug funds if the website goes down you just use web3

        • 3 weeks ago
          Anonymous

          keep in mind they have a vault. Lots of shorting winners rn that havent closed trades yet

      • 3 weeks ago
        Anonymous

        [log in to view media]

        Forgot to include pic related.

        • 3 weeks ago
          Anonymous

          >btc-e trollbox
          the biggest loss in crypto to date

  8. 3 weeks ago
    Anonymous

    When my $4000 stake gets me 45 cents a week

    • 3 weeks ago
      Anonymous

      Lol same

  9. 3 weeks ago
    Anonymous

    [log in to view media]

    The second you see coins with massive potential not being valued enough - it becomes too obvious that it's all unfair and being manipulated heavily.

    I looked at Vinu - and that 's when I figured that if a coin has memecoin coin pooomp and has metaverse and gasless and structure based fundamentals and yet the value drips - then there's massive manipulation around

    • 3 weeks ago
      Anonymous

      Imagine being this fucking stupid. Any coin can be forked or cloned, their 'fundamentals' are inherently valueless. The only source of their value is the network effect.

  10. 3 weeks ago
    Anonymous

    2011

  11. 3 weeks ago
    Anonymous

    One of the most basic concepts of economics is supply and demand. How tf does this work with "digital" assets? Retards

  12. 3 weeks ago
    Anonymous

    T-Thanks for unbanking me! It reminds me of terraluna's plebbit banner "set money free"

    • 3 weeks ago
      Anonymous

      these people got unbanked alright

  13. 3 weeks ago
    Anonymous

    About 4 years ago, which is why I noped out before putting a penny in.

  14. 3 weeks ago
    Anonymous

    [log in to view media]

    >It’s just a crypto winter, nothing to worry about

  15. 3 weeks ago
    Anonymous

    [log in to view media]

    Saw this coming at in 2020. Bears trying to ride this ponzi down will get wrecked!

  16. 3 weeks ago
    Anonymous

    [log in to view media]

    They did the same thing as a bank. Held 27% of users actual funds and the rest was unaccounted for, also had loans for millions of ETH that is about to get margin called. We are so fucked

  17. 3 weeks ago
    Anonymous

    calsius isn't crypto lol
    how much money did they rob from you

    • 3 weeks ago
      Anonymous

      it's not just Celsius though

  18. 3 weeks ago
    Anonymous

    When people didn't question 20% APY from nothing.

  19. 3 weeks ago
    Anonymous

    >give your wallet to some random dude because he told you he was a wallet inspector
    >"wtf paper money is a scam"
    you get what you fucking deserve

  20. 3 weeks ago
    Anonymous

    It's not a scam, you cryptohomosexuals are always screaming about "MUH GAINZ" but are failing to follow the original philosophy behind crypto. You get what you fucking deserve

    • 3 weeks ago
      Anonymous

      >the original philosophy behind crypto
      kek

    • 3 weeks ago
      Anonymous

      I don't think the intelligence agency that invented crypto had a philosophy beyond "it's hard to track cash, we should get people to use something that keeps a record of transactions for illicit activity instead"

    • 3 weeks ago
      Anonymous

      >original philosophy behind crypto.
      being a big ponzi scam?

    • 3 weeks ago
      Anonymous

      >original philosophy behind crypto.
      Laundering drug money?

    • 3 weeks ago
      Anonymous

      >original philosophy behind crypto.
      Getting rich quick at the expense of the next guy?

    • 3 weeks ago
      Anonymous

      Buying and selling pictures of monkeys?

  21. 3 weeks ago
    Anonymous

    2009

  22. 3 weeks ago
    Anonymous

    When it became just another speculative object instead of the promised purpose of replacing fiat. So like, 6-8 years ago? Maybe further?

    • 3 weeks ago
      Anonymous

      >designed to replace fiat
      >and not be a ponzi scheme

      Sounds self-contradictory to me

      • 3 weeks ago
        Anonymous

        Yeah, in retrospect it probably never would've panned out the way it was intended. Oh well. Hope you all lose your life savings when it goes to zero. I never put in a single cent, I just like coming here to watch you post pink wojaks and shit.

        • 3 weeks ago
          Anonymous

          Do people really think that something that would actually threaten the USD's global reserve status would be allowed? They could make crypto illegal overnight and it would go POOF.

          • 3 weeks ago
            Anonymous

            Anon, I...

    • 3 weeks ago
      Anonymous

      Basically this. The prototype was fine as a prototype, but it had severe design issues: the infinitely growing append-only log, the transaction bottlenecks (both price and speed), compute requirements (of course it's by design, but it's not well designed)... all prevented proper adoption which prevented its use for day-to-day transactions even theoretically, let alone in practice. Then instead of working more toward that goal, the whales that took over decided to turn it into a speculative instrument with no regulations unlike e.g. stocks. This basically sealed cryptos' fate.
      There needs to be anti-speculative systems built into the system that nevertheless have no impact on transaction permissions. A tall order, though.

      • 3 weeks ago
        Anonymous

        >the infinitely growing append-only log
        that's the point of blockchain you fucking idiot, can't wait until BTC is 100k 2-3 yrs from now and you're seeting

        • 3 weeks ago
          Anonymous

          You don't need an append-only log to conserve transactions consistently.

  23. 3 weeks ago
    Anonymous

    Since 2009 when I used to troll buttcoin IRC channel. Those freetards were so autistic they make the people here look like normies

  24. 3 weeks ago
    Anonymous

    "It is immoral to let a fool keep his money."

  25. 3 weeks ago
    Anonymous

    When nobody was shilling the good metaverse projects and everybody was far more focused on shitting on nfts as a whole

    • 3 weeks ago
      Anonymous

      imagine my face when i heard about lace and no one else was talking about it
      its like this board is anti unicorns

      • 3 weeks ago
        Anonymous

        well to be fair this IS the shilling board, that's just how it operates

      • 3 weeks ago
        Anonymous

        Lmao. Go ahead and shill your garbage, retard. You missed your chance.

    • 3 weeks ago
      Anonymous

      i've lost so much fucking money because of it

  26. 3 weeks ago
    Anonymous

    [log in to view media]

    >When did you realize crypto was a scam?

  27. 3 weeks ago
    Anonymous

    When I first learned about it

  28. 3 weeks ago
    Anonymous

    Who the fuck keeps their coins on exchanges?
    Lmao are you retards too young to remember Mt.Gox?

  29. 3 weeks ago
    Anonymous

    immediately because all of the arguments for it boiled down to "number go up"

  30. 3 weeks ago
    Anonymous

    I fail to see how this is any different from 2018

  31. 3 weeks ago
    Anonymous

    When you could create shitcoins out of thin air and arbitrarily assign it a monetary value.

  32. 3 weeks ago
    Anonymous

    I'm still waiting on the Tether house of cards to collapse. That whole thing screamed scam from the start.

  33. 3 weeks ago
    Anonymous

    Monero isn't a scam
    My shit isn't in any CEX

    • 3 weeks ago
      Anonymous

      Monero isn't a scam, it's a secure, decentralized, private payment processor, which is always what crypto was supposed to be.
      People who entered crypto thinking it was going to be this moon shot earning them a lambo are retarded.

  34. 3 weeks ago
    Anonymous

    Back when I first read about it and it was $3. Dumbest shit ever

  35. 3 weeks ago
    Anonymous

    Crypto by nature is a zero sum game. It is an unproductive asset. You can't create value out of nothing. For someone to make money, someone has to lose money.

    Once you consider that the space is full of scams, rug pulls, security breaches etc. it is a negative sum game for your average investor.

    Most of desperate baggies on this board are just liquidity for whales to dump their bags for profits. Then the baggies will sit in their tiny communities and make up conspiracy theories about why their coin isn't making them rich.

    Its pathetic, honestly.

    • 3 weeks ago
      Anonymous

      >running miners and nodes generates no revenue
      Please go back, you’re so stupid it hurts

      • 3 weeks ago
        Anonymous

        Yeah if you mine crypto they money just falls out of heavens. You fucking imbecile its still a zero sum game.

        Even mining can be a money losing proposition. I know many that bought rigs and never broke even. The cost of GPU depreciation and electricity adds up. Unless you are running a large operation in cheap electricity country, you aint making money.

        • 3 weeks ago
          Anonymous

          >The cost of GPU depreciation and electricity adds up.

          That's the point, the limiting factor is electricity. A tangible asset, similar to gold which the limiting factor is how much is available in the earth.

          No one can print a trillion BTC like the U.S government, it is a finite resource.

          • 3 weeks ago
            Anonymous

            There are billions of finite things in the world. I have a finite amount of Pubic hair. Much fewer than 21 million I would guess. Are my pubes worth 22k each?

            Gold again is a zero sum game. Over long periods(100+ years) it just keeps up with inflation and has 0% real return. The only reason why it has value is because of tradition. Its use as currency for millenniums.

            What makes bitcoin have real value? Please don't say electricity. Because BTC has crashed 60%+ and electricity prices are only rising.

            Its value comes from speculative gambling on the price. When investor sentiment is good, price rises. When it turns it dumps. Simple as.

    • 3 weeks ago
      Anonymous

      The very definition of money

      • 3 weeks ago
        Anonymous

        Yeah but no body is collecting dollars hoping its value will go up.

        Also that stuff is generally quite a bit more stable.

        Plus due to all the regulation and its nature its harder to pull of scams. There are many more backstops and insurances. I know homosexuals dont appreciate it, but Fed, SEC, etc are amazing institution. Without them banks also used to get "bank runned" out of existence.

    • 3 weeks ago
      Anonymous

      >for someone to make money, someone has to lose money

      This is practically all of investing.

      >you can’t make value out of nothing

      Scarcity, demand, and utility is all it takes. This is literally basic economics. You’re not smarter than satoshi or vitalik I promise you. You work at Kroger.

      • 3 weeks ago
        Anonymous

        Actually no. Learn to basic economics. You own a stock. You own a company. That company provides a service or makes a good that adds value to the world. Apple for example make phones from all the raw ingredients. These phones are better than sum of their parts. Apple capture than value in terms of profits. Those profits are returned to stock holders as dividend, share buyback or reinvested into company.

        Either way you either getting direct cash, more share in the a profitable business or your business has more assets or future profit making capacity. Hence you are harvesting value.

        Scarcity is not valuable by itself.
        Demand can dry up for speculative assets when consumer sentiment turns. As we see now.
        WTF is the utility of crypto? What problem has it solved?

        Crypto has a market cap of 1 trillion. Google has a market cap of 1.4 trillion. Everybody in the world uses google, Gmail, google maps, calendar, youtube etc.

        How many people do you estimate are using Crypto to do real world financial transactions? Most block chain analysis shows that its mostly used for speculation.

        • 3 weeks ago
          Anonymous

          >Scarcity is not valuable by itself.

          but muh runescape party hats

          • 3 weeks ago
            Anonymous

            They still have more utility than most crypto. Try wearing them.

        • 3 weeks ago
          Anonymous

          There are people who buy and hold crypto. There are people who day trade stocks and constantly compete against eachother. When you are investing in stocks you’re competing against hedgefunds who are taking out short/long positions with the intent of liquidating other investors. It’s a zero sum game.

          >scarcity is not valuable by itself
          It’s part of what makes something valuable. Bitcoin is digital scarcity. If people agree it’s valuable (similar to how they agree any other digital item is valuable), then it’s valuable.

          >wtf is the utility of crypto?
          You can Google it. It’s different depending on which one you’re asking about.

          >how many people are using crypto now?
          I’m not really concerned with that I’m more concerned with how many people will be. This is why people speculate on it. This is why people speculate on any company or anything,

  36. 3 weeks ago
    Anonymous

    [log in to view media]

    Where are all these new n-words coming from? Crypto is still in its Wild West phase it’s extremely high risk you dumb homosexuals, that’s why people get into it. You’re told constantly to keep your shit off of exchanges for this exact reason.No one is going to hold your hand or regulate anything for you. If you don’t like it, there’s nothing wrong with investing in stocks or gold. At least there you will be given the illusion that you’re safe.

    >hell yeah dawg I got a decentralized p2p currency I can do whatever I want with
    >these markets unregulated and crazy as hell, ima leave my shit on a centralized exchange
    >Damn bruh wtf all my funds just got locked on the exchange!!! Bro this shits a scam on god no cap frfr

    Turn your brains on.

  37. 3 weeks ago
    Anonymous

    when I realized you don't actually get anything for your work, its like fiat but the other way around, instead of putting no work in and getting a rag with government signatures on it, you put work in and get some digits on a hard drive.

  38. 3 weeks ago
    Anonymous

    Immediately, lol. It was fine as a get rich quick scheme, but now it's dead

    • 3 weeks ago
      Anonymous

      This is said by new fags after every crypto crash.

  39. 3 weeks ago
    Anonymous

    bros... whers the regulator when you need one...? how is this legal and they're going on unpunished?

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