I lost half my money in the crypto crash

I lost half my money in the crypto crash.

Can we have one of these threads? It helps me relax.

Alright user, why aren't you playing Paragon? It has actual graphics.

>crash
It actually crashed now?

So you're telling me you lost actual money?

>ETH at 180 and dropping
Hell yeah, I thought I'd missed my chance. Time to buy this dip

Have you tried going back to look in the last place you remember seeing it?

>Investing in cryptocurrency

How fucking stupid can you be? It's only slightly smarter than getting into a ponzi scheme.

Imagine getting rused into the bit mining meme. LOL

Crypto is a ponzi scheme.

all cryptocurrencies are effectively pyramid schemes. the earlier you start, the better off you are, the harder it becomes to acquire any real value, spreads through word of mouth, etc.

Not really but it's pretty close to one.

If it walks like a duck etc.

It probably has webbed feet?

>All though people who bought shit loads of graphics cards because they thought it would be easy money
>At it's peak they made like $2-3 a day

I wonder what they make a day now. Probably pennies and dropping.

and steals all your money

unless they're living on a solar grid they probably lost money through electricity bills.

What is even the point? Get in as early as possible and bail before everyone else does? Who pays money for this useless "currency"? You can't buy anything with it but maybe drugs.

Yes, that's the whole point of the scheme. Artificially inflate the currency with false promises for greater value, then pull out of the game by selling off your huge share. Then there are people who know how to ride the waves and make a few bucks here and there as it dips and rises in value.

When you look at the bigger picture, modern capitalism is a Ponzi scheme

Why not just invest in stocks? Then you at least own something of real value.

Yes, the point is to get in early, pump up the price, show every idiot on the internet the amazing rate at which the price is rising, then when every two-bit chump tries to get in on "easy money" you dump everything you have and move on to the next coin. There are only two types of people into cryptocurrency: scammers and chumps.

nice, just bought 100k

I don't understand why this even is a thing. With bitcoin you could at least buy stuff from hipster restaurants etc for a while. There was a kind of ideological point to it. These new ones are just pure scams and people still go with it.

Most stocks that your average person would buy into (usually offered by large companies) don't rise as exponentially as crypto, and there's the whole "this is the future of money" hype that surrounds the crypto market. It's extremely volatile, but people only seem to acknowledge when it soars in value rather than when it crashes every other month.

Stocks don't offer the kind of returns scammers claim cryptocurrencies do. A decent stock portfolio will increase in value by 10-15% per year, cryptocurrencies can increase 200% in a month.

it's great as a means to pay/recieve money without a trail, but holding bitcoin or other crypto currency for the long term is pretty stupid imo (it's literally just gambling, it's not even speculative really)

no its a pyramid scheme

>implying you can't profit off of this scheme
>implying im going to go long on buttcoins

There used to be a sucker born every minute, now several suckers are born each second.

10-15... try 0-5 in the past 10 years lol.. if you're making 10 or 15% annually over more than 5 years you should be working on wallstreet, or even better as a private manager

I think with most 'altcoins' the people who try to sell it acknowledge that it's not going anywhere or doing anything different, but because everyone thinks they're going to be part of the pool of savvy profiteers, who make a cool 500% return off of buying in and selling it later on, people will continue to buy and sell it. There's room for profit to be made, but only the early buyers have a deep-seated interest in keeping it afloat in the long run. The real trick is that just about everyone thinks they're still 'early in the game' when more often than not they're the latecomers being taken for a ride.

I understand buying crypto money, but how does that turn into real cash? Who wants to exchange theirs goods and/or services for bitcoin outside of modders for obscure hentai games?

you buy/sell on a market the exact same way that you would buy/sell normal securities. the price is determined by the recent buy/sell orders

I don't think you really understand the difference between a pyramid scheme and a ponzi scheme.

So it's all about retards, who think they are smart and not getting scammed, getting scammed?

>t. every investment ever

>I lost half my money in the crypto crash.

Good. You deserve it for driving up the price of GPUs. I hope you lose everything else too, you scumfuck.

If you do your research you can make smart investments. Crypto isn't one unless you are the first one in.

it's still the basic idea though, every investment is about timing the market to get out before the next big drop (or buying in before it goes up).