Crypto was just a really bad idea
The technology is really not well suited for financial transactions. It's slow. It can't handle scale. It's insecure. It's unreliable. All the things you don't want a currency to be. https://www.ccn.com/190m-gone-how-canada-biggest-bitcoin-exchange-lost-it/amp https://www.forbes.com/sites/donnafuscaldo/2019/01/31/hackers-stole-1-7b-worth-of-crypto-last-year/
CCN
Agreed crypto (especially bitcoin) was an interesting bubble a few years ago, but was not built in a way to ever be useful in the real economy...
It’s called development and second layer features. Software does not begin and end in its first iteration. Very naive comments here tbh.
What you are saying is relevant for the blockchain. It is not relevant for bitcoin. My concerns with the currency isn't just that it slow, but having a known set increase in the monetary base is a terrible idea and would cause brutally long recessions, since you can't stimulate the economy by changing monetary policy. So rather than saying the comments are naive you may want to learn a little bit about economics rather than just thinking about the technological weaknesses
If you can’t make it rain in a strip club, it ain’t currency.
Imaging throwing 1 INR banknotes at a strip club in Vegas
Imagine the bouncers throwing you out
This post is what we like to call FUD in crypto/finance.
HODL 😂 I am sooo happy that coinbase did not allow me to take more than $750 from my bank account lol, now worth $50
No market goes up forever, you have to make your entry during the opportune moments of the market cycle. Investing is not for the faint of heart, but it’s worth it.
The market disagrees with you. Total market cap of all crypto is >$100B.
Lol that's barely more than American Express, which is just one credit card company 🤣
Open source software is worth more than your entire company, which is $38B
Lots of things are valued more than Capital One. Were a relatively small company
Well who knows whether crypto is good idea or bad. It amazes me to see how people who know don't things for certain fight it out in the market buy or sell. Call or put. Value is inherently complex for a common person to understand and these market makers are making good money exploiting it. ICO took it to to next level. Well be considerate to yourself and feel better by saying 'I don't know it for certain' and say it's speculative. It we really need a digital currency it will happen even if we have shortcomings today. That is where the great software minds are employed. This discussion is a rut. Please come out of it.
Crypto freaks have invested their future in it so I doubt anyone here is going to convince them to change their minds. Maybe after they watch McAffee eat his own dick they will come out of it.
This is exactly why you don't keep your crypto on an exchange. How hard is it to use a hardware wallet !? Have we not learnt anything from Mt Gox?
Yeah, until you lost the password to your hardware wallet. Got it stored in a way your kids can get the funds if something happens to you and your spouse? I'm guessing no. It's not reliable.
Hardware wallets have a separate Recovery key that can be used to access funds even if your passcode is forgotten and hardware wallet were thrown to the bottom of the ocean.