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Scap

Well-Known Member
Joined
Dec 1, 2012
Messages
5,158
Fair. And like I said, if it's an investment vehicle, it's different.

But kona is talking about my USD are going to be worthless soon. And that's just not happening when you've got stories like that from coinbase.

They've been worthless for years.
We just think they have value.
 

ChuckJr

Well-Known Member
Joined
Apr 22, 2021
Messages
258
The official, worthless, US issued ones are printed on both sides with anti-counterfeit measures included. Those will be OK!
 

CgarDan

Well-Known Member
Joined
Jun 18, 2006
Messages
3,130
For me its 100% investment. yes, this is current but these people were hacked because of their negligence. Not because of anything Coinbase did. If they lost their money due to a flaw on Coinbase side they are insured to cover those costs and as a public company you would be able to sue them for their negligence.

If you talk to anyone on crypto its not smart to leave your money on an exchange anyways. I keep all my crypto investments on a hard wallet stored in a safe.
I agree an account being hacked is a security issue that is similar to having your online bank account or trading account hacked at any online brokerage. By the way Coinbase is one of the safer crypto exchanges. All balances in usd are protected the same as a bank account by fdic up to 250k. And 98% of all crypto kept in the exchange is on cold storage and stored in safety deposit boxes located around the world
 

kona1000

Buy Bitcoin
Joined
Oct 10, 2009
Messages
2,182
Haven’t been around for a bit.

‘crypto’ and Bitcoin are totally different.

Bitcoin is immutable digital store of value.

CRYPTOs are shit.
 

CigarStone

For once, knowledge is making me poor!
Joined
Mar 7, 2007
Messages
5,197
My honest opinion, is that I missed the boat on this. I remember a friend telling me about Bitcoin years ago, when it was $200/coin. I was going to invest at that time, but didn't. Fast forward and it's now almost $40,000/coin.

My main issue is that I have no clue about it. I've read up on it, but still don't understand what it truly is. The other thing that scares me, is that it's all electronic and like Chad stated, if something happens and I lose the storage, it's gone. Cryptocurrency isn't backed by any banks, will it ever be backed by something similar to the FDIC?
Brandon, don't worry, every fad has it's meteoric rise followed by it's meteoric fall. Yes, if you had invested at the right instant, you could have cleaned up ....... if you got out. As @CigSid Bill said, the basis of cryptocurrency is founded in an infrastructure that is less stable than a house of cards in a wind storm.

Listening to a cryptocurrency zealot is like listening to a Browns fan guarantee you they were going to the Super Bowl. Like Tom Petty said, "you believe what you wanna believe"
 
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