What happened to Cryptocurrency?

[Anonymous]

Is Cryptocurrency a scam?

[zeitgeist057]

No, it's not a scam. It's still there, but the buzz around it has died down for now. There are still billions invested in cryptocurrencies by many people and financial institutions who see the value of it.

I have cryptocurrency, and it has a good rate of return. I believe it will be on the rise again before too long.

The reason the price has been bouncing up and down with crypto has a couple reasons:

1. People are not using it as intended: as a CURRENCY. They are using it as a stock or store of value. Then freak out when it goes up or down and buy and sell it like stock. If people start using cryptocurrency as CURRENCY, then it will start to increase in value even more than in the past.

2. There are a lot of copycats from the original Bitcoin. Some are actually better, faster, more efficient. But there are thousands and they are not all better, a lot are garbage. This also hurts the image of cryptocurrency in general because people don't know the difference. But probably Bitcoin and Ethereum will stick around and maybe a couple others will show themselves to be winners. But it is random, as shown by a coin like Dogecoin.

Dogecoin was made as a joke, but even as a joke, it has shown that it can be a good currency and profitable. But the hype and mass hysteria/buying and selling, has caused the price to be very volatile.

The future of cryptocurrency still looks very good. The blockchain technology which it is built upon has many applications beyond currency. In the financial world and other applications. With inflation, the market falling, depreciation of fiat currency and control of fiat currency by government, cryptocurrency is showing more and more of its benefits by being a decentralized currency that a government cannot print more of and devalue its citizen's savings.

[Asker]

So should I accept crypto currency for sex?

[zeitgeist057]

I would say it depends on the cryptocurrency. I would not accept most cryptocurrencies as payment for anything, but I would accept Bitcoin, Ethereum, USDT (Tether), or USDC.

The other thing to consider is how are you receiving and holding the cryptocurrency? You will need a secure digital wallet. Will you use the cryptocurrency to buy things with, or do you plan to hold onto the cryptocurrency or invest it for later use?

A simple wallet you can create on your iPhone to accept Bitcoin, Ethereum, USDC, or even Dogecoin can be found at https://prodoge.com

I would be very cautious about any other cryptocurrencies and likely would not accept them. I have a few like Kucoin, DFI, Monero, Digibyte, &c., but they are very risky and more likely to decrease in value.

[zeitgeist057]

@jennz6 how much crypto and what kind of coin are they offering you?

[Asker]

Bitcoin

[Asker]

Just one

[zeitgeist057]

One bitcoin is pretty valuable, currently worth about $16,000. I believe it will eventually be worth over $100,000. The thing to be careful of is it sounds like you don't really understand cryptocurrency so while cryptocurrency is not a scam, the person could still be trying to scam you. The same way USD currency is real, but someone could try to give you counterfeit money.

I would suggest downloading the prodoge app or another crypto wallet to your phone, then having the person transfer a BTC to you, at the deposit address that you provide them. If it shows up in that legitimate wallet, then it is real, they can't fake that. As long as $16,000 is a reasonable price for your sex services.

[CrazyGirl2]

Im not sure, it really does seem like it’s certainly POSSIBLE that most cryptos are a scam, and the real/good ones are already WAY too expensive to buy in any meaning amount!

[zeitgeist057]

@CrazyGirl2 you don’t have to own “any meaning amount”. It’s like a dollar and cents, only on a larger scale. You used to be able to buy a gallon of milk for a nickel. It’s fine to have 0.01 Bitcoin, that’s still $160.

Most cryptos are not “scams”, but what they are is copycats trying to emulate Bitcoin or Ethereum, and create something valuable, but it’s not really that easy to just be instantly successful. So hundreds are trying it and failing. Like if everyone tried to build airplanes, there would be a lot of unsafe airplanes and people might start to think ALL airplanes were unsafe, or even intentionally designed to kill people.

[Kaneki05]

If one thinks it is a scam but uses a credit credit instead of in hand cash they are not exactly the thinker.
Also there is a reason why countries are cutting back so much on physical money and adopting virtual currency. It's not because it don't work and the governments of the world just want economy collapse for the fun of it just in case if you need more proof.

[Asker]

@Kaneki05 I never was a good thinker, not really stupid but I don’t have a good education, never even finished High School

[Kaneki05]

I don't think finishing high schools proves whether one can be smart or not. A lot of smart people are stubborn enough to not put effort into things if they don't care. School can be a thing one can easily not care about.

People all have different strength so even if that was true I wouldn't take it to heart. Though if you started saying the earth was flat then we would have to get into it lol.
I think Cryptocurrency is just more lack of awareness and hype about it been something different when it's not really any different to other currency's.

The important part is asking the questions.

[Asker]

@Kaneki05 thank you for that

[CrazyGirl2]

Im not sure, it really does seem like it’s certainly POSSIBLE that most cryptos are a scam, and the real/good ones are WAY too expensive to buy in any meaning amount!

[Revvl]

Biden's handlers want to control crypto, so that's the problem.

[Asker]

Yes I should have thought about that

[Revvl]

Digital currency is not a new idea. It's been talked about for decades. I watched a show about it 20 years ago. It's about privacy. On the show, they talked about hookers, drugs and even making a golf bet. If you and I played golf... we might make a $5.00 bet. Do we really need Biden knowing about this? You might have a garage sale. I might buy some stuff. Does Biden need to know what you sold or what I bought?

[Asker]

Interesting

[Asker]

@Revvl I was offered bitcoin for sex

[Asker]

@supercutebutt I never knew about crypto until recently when a guy offered me bitcoin for sex

[Asker]

@supercutebutt I did say that I only take cash

[NerdInDenial]

Cryptocurrency is not a scam but if you’re looking for the quick boom that Bitcoin went through, it’s not going to happen anymore. Cryptocurrency investment is probably a mixture of investing in penny stocks and normal currency. YOU HAVE TO PAY ATTENTION.

[Asker]

You have to pay taxes on it too

[CourtneyJane2]

It was a hot commodity for a while, but I think people in general have lost interest and cryptocurrency's time in the sun has come and gone.

I invested in some cryptocurrency from 2017 to last year, mainly XRP (Ripple), Litecoin, and Ethereum.

The only one I made a substantial amount speculating on was Ethereum, I bought into Ethereum back in late 2018. $7,000 worth/35 shares. My partner at the time thought I was a loon, then I sold my shares around this time last year and made a little more than $150k after taxes, some of which I used to buy myself a new Jeep, fully loaded, in cash and still had more than enough to stash away.

Besides that success, I've mostly lost money investing in crypto and I'm no longer in the game.

[TroyDT2]

Not a scam, although individual ones might be a bad idea. I also think governments have a hand in trying to destroy the entire idea of independent crypto because they do not control it and it has the potential as currency for a mass untaxed market. That is why they (governments) are working on their own cryptos, so that they can keep control.

[CloudMassacre]

Crypto has boom and bust cycles just like anything else. I treated crypto like gambling, and I only gambled what I could afford to lose. So overall I would say a medium Yeah It’s a Scam, but I have also made some money off crypto.

[Asker]

Thank you

[Static_In_The_Attic]

Whatever happened I’m laughing about it just like my friends were laughing at me for buying stocks after the stock market crashed after covid hit.

Covid hit stocks went on sale I bought & after Covid stocks went up & my friends weren’t laughing after I paid my mortgage off.

[MCheetah]

It is (and always was) a scam and thanks to our chubby Jew boy from FTX fleeing to The Bahamas, people

"Bitcoin? No. Hitcoin? Certainly. Put you in the dirt; call it Crypt-tocurrency." - John Wick

[MCheetah]

fleeing to The Bahamas, people *now know how big of a scam cryptocurrency is.
https://www.youtube.com/watch?v=20BEJouWBgY

[melanieeeB]

No clue but one thing I know, wouldn't recommend cause I'm getting warnings all the time

[Chazmatazz269]

Of course it is. Hell, “currency” is a scam. Pretend currency is so ridiculous that only idiots and assholes would partake.

[OlderAndWiser]

'Nough said?

[MCheetah]

No. NOT 'nuff said. Cause the money didn't actually flush down the toilet. Also, why is it specifically seven dollars? So now I'm more confused about the metaphor than anything.

[menina]

I have no idea, I've never used it. It seems too complicated and too risky. Besides it doesn't sound like real money to me.

[saffoler]

Of course it is a scam. It is all just 1s and 0s. It is backed by nothing and nobody. I don't know if this will be the big collapse; but it is coming.

[normalice]

It is a classic pyramid scheme. But pyramid schemes can work if they stay popular.

[Anonymous]

Government owned and developed

Once they've enriched themselves enough they'll pull the plug

[CuriousMufuxka]

It's an online stock market with different currency that maybe eventually coverts back to dollars.

[AngryCarl]

Yes, in a similar way that fiat currency is a scam. Only it's worse because you can't buy food with crypto currency.

[Wise4myage]

Its always been too volatile to invest in.

[Asker]

That’s what I heard

[NathanDavis]

if you have to ask...

[jshm2]

Nothing, it's still going strong.

[Preeti161101]

Maybe 🤔

[Asker]

I heard on the news that they were broke

[Preeti161101]

Yes,
Bitcoin also loosing

[Asker]

I heard about that too

[Preeti161101]

Crypto is like a scam

[Debbie14217]

it was a fraud... yes

[Andres77]

Doh!

[JohnK123]

Yes it is

[In_Trance]

lol yea