Current Events > Young investors are losing big in crypto crash: 'I didn't sleep for days'

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Lebronwon 05/24/22 1:13:56 AM #1:	https://nypost.com/2022/05/23/investors-lose-big-in-crypto-crash-i-didnt-sleep-for-days/ With hopes of being a homeowner by the time he turned 30, Steve Jensen decided to invest $25,000 in the crypto market in the summer of 2020. It was half of his savings, but since he couldnt afford a 10% down payment on a home in Westchester, he hoped his gamble on the blockchain would expedite the process after seeing friends cash in crypto to buy real estate. I knew it was a risk, but I saw so many people making money fast off crypto and thought it would be a good idea to invest, Jensen, now 30, told The Post. Turns out, he was wrong. Average young investors like Jensen went all in on crypto in the hopes of quickly making bank, cashing out and buying a home, car or business or even retire. It all came crashing down in this months crypto-market bloodbath losing nearly $2 trillion in value with some investors losing everything. As of press time, a Cardano share was going for 55 cents, making Jensens investment worth about $3,000. And hes saddled with debt because he borrowed $5,000 against his credit card to invest in more Cardano before the market crashed. Now, a return on his investments seems like a lifetime away. Jensen was left having to explain the market loss to his longtime partner, as well as park his plan of buying a car this summer. I didnt sleep for a couple of days, Jensen said of watching the price plummet on Cardano and Ethereum this month. Id wake up with insane anxiety, he added, noting that he felt depressed by the dismal downward turn of both currencies. Still, Jensen does see one silver lining: Youd be at my funeral if I invested in Luna, he said, referring the cryptocurrency that lost more than 99% of its value. Some investors were left devastated by the Luna collapse. My friend and ex-colleague tried to commit suicide this morning, one Reddit user posted earlier this month. He basically moved all of his savings to crypto in 2021 and LUNA was a massive player in his portfolio. Another despondent Reddit user said he retired at 20, having made $4.6 million trading off an initial $15,000 investment only to dump all but $10K back into the crypto exchange. $4,600,000 into $500 in the matter of weeks, the former millionaire wrote. Im not sure if or how ill recover. I lost everything. Chris Panteli, 35, planned on using his crypto earnings to help pivot to remote-only work. After getting diagnosed with Type 1 diabetes at age 33, I knew I would need a less physically demanding job for the years ahead, the UK resident told The Post. But with the crash, he ended up down more than $6,000 on his investments in Strong, Bitcoin and Ethereum a significant amount of his savings. I kept thinking, This has to stop bleeding at some point, right? Panteli said, noting that his crypto investments now equal only $2,000. Others are luckier. Rachel Siegel, 29, a former substitute teacher who became a crypto millionaire, started investing in 2017 with just $25 a week. The crypto influencer from the Lower East Side, who says her investments have resulted in profits in the low seven figures (she declined to give an exact amount), didnt get crushed in the crypto crash, but she did lose out on Luna. I had $3,000 turn to less than a penny, Siegel told The Post. I know people who had millions of dollars turn into $2,000. It was devastating. https://gamefaqs.gamespot.com/a/user_image/2/8/8/AAd-UUAADQz4.jpg --- Not 1, not 2, not 3, not 4, not 5, not 6, not 7 <cite>Lebronwon posted [p:965259951] in Young inve... [t:80031745]...</cite> <quote>https://nypost.com/2022/05/23/investors-lose-big-in-crypto-crash-i-didnt-sleep-for-days/ With hopes of being a homeowner by the time he turned 30, Steve Jensen decided to invest $25,000 in the crypto market in the summer of 2020. It was half of his savings, but since he couldnt afford a 10% down payment on a home in Westchester, he hoped his gamble on the blockchain would expedite the process after seeing friends cash in crypto to buy real estate. I knew it was a risk, but I saw so many people making money fast off crypto and thought it would be a good idea to invest, Jensen, now 30, told The Post. Turns out, he was wrong. Average young investors like Jensen went all in on crypto in the hopes of quickly making bank, cashing out and buying a home, car or business or even retire. It all came crashing down in this months crypto-market bloodbath losing nearly $2 trillion in value with some investors losing everything. As of press time, a Cardano share was going for 55 cents, making Jensens investment worth about $3,000. And hes saddled with debt because he borrowed $5,000 against his credit card to invest in more Cardano before the market crashed. Now, a return on his investments seems like a lifetime away. Jensen was left having to explain the market loss to his longtime partner, as well as park his plan of buying a car this summer. I didnt sleep for a couple of days, Jensen said of watching the price plummet on Cardano and Ethereum this month. Id wake up with insane anxiety, he added, noting that he felt depressed by the dismal downward turn of both currencies. Still, Jensen does see one silver lining: Youd be at my funeral if I invested in Luna, he said, referring the cryptocurrency that lost more than 99% of its value. Some investors were left devastated by the Luna collapse. My friend and ex-colleague tried to commit suicide this morning, one Reddit user posted earlier this month. He basically moved all of his savings to crypto in 2021 and LUNA was a massive player in his portfolio. Another despondent Reddit user said he retired at 20, having made $4.6 million trading off an initial $15,000 investment only to dump all but $10K back into the crypto exchange. $4,600,000 into $500 in the matter of weeks, the former millionaire wrote. Im not sure if or how ill recover. I lost everything. Chris Panteli, 35, planned on using his crypto earnings to help pivot to remote-only work. After getting diagnosed with Type 1 diabetes at age 33, I knew I would need a less physically demanding job for the years ahead, the UK resident told The Post. But with the crash, he ended up down more than $6,000 on his investments in Strong, Bitcoin and Ethereum a significant amount of his savings. I kept thinking, This has to stop bleeding at some point, right? Panteli said, noting that his crypto investments now equal only $2,000. Others are luckier. Rachel Siegel, 29, a former substitute teacher who became a crypto millionaire, started investing in 2017 with just $25 a week. The crypto influencer from the Lower East Side, who says her investments have resulted in profits in the low seven figures (she declined to give an exact amount), didnt get crushed in the crypto crash, but she did lose out on Luna. I had $3,000 turn to less than a penny, Siegel told The Post. I know people who had millions of dollars turn into $2,000. It was devastating. https://gamefaqs.gamespot.com/a/user_image/2/8/8/AAd-UUAADQz4.jpg </quote> ... Copied to Clipboard!
MattMurdock 05/24/22 1:14:47 AM #2:	That means they overleveraged. I only invest what I can afford to lose, and I've only been buying more during these dips. --- https://youtu.be/8BevuPuYeSU <cite>MattMurdock posted [p:965259962] in Young inve... [t:80031745]...</cite> <quote>That means they overleveraged. I only invest what I can afford to lose, and I've only been buying more during these dips.</quote> ... Copied to Clipboard!
Gobstoppers12 05/24/22 1:15:56 AM #3:	MattMurdock posted... That means they overleveraged. I only invest what I can afford to lose, and I've only been buying more during these dips. okay but nobody asked --- I write Naruto Fanfiction. But I am definitely not a furry. <cite>Gobstoppers12 posted [p:965259974] in Young inve... [t:80031745]...</cite> <quote>MattMurdock posted... </cite> <quote>That means they overleveraged. I only invest what I can afford to lose, and I've only been buying more during these dips.</quote>okay but nobody asked </quote> ... Copied to Clipboard!
CryoForceOmelet 05/24/22 1:16:35 AM #4:	It's hard to have sympathy tbh. --- Wow. <cite>CryoForceOmelet posted [p:965259978] in Young inve... [t:80031745]...</cite> <quote>It's hard to have sympathy tbh. </quote> ... Copied to Clipboard!
AldousIsDead 05/24/22 1:20:18 AM #5:	CryoForceOmelet posted... It's hard to have sympathy tbh. I have some. I have an abundance of disdain, though. --- In simplicity, utility. Through utility, simplicity. <cite>AldousIsDead posted [p:965260028] in Young inve... [t:80031745]...</cite> <quote>CryoForceOmelet posted... </cite> <quote>It's hard to have sympathy tbh.</quote>I have some. I have an abundance of disdain, though. </quote> ... Copied to Clipboard!
Dat_Cracka_Jax 05/24/22 1:21:10 AM #6:	Lebronwon posted... Another despondent Reddit user said he retired at 20, having made $4.6 million trading off an initial $15,000 investment only to dump all but $10K back into the crypto exchange. $4,600,000 into $500 in the matter of weeks, the former millionaire wrote. Im not sure if or how ill recover. I lost everything. How fucking greedy do you have to be to do this? --- http://img826.imageshack.us/img826/8131/flame201010170949481638.jpg http://img705.imageshack.us/img705/5517/cateyes.gif Rams: 7-9 <cite>Dat_Cracka_Jax posted [p:965260041] in Young inve... [t:80031745]...</cite> <quote>Lebronwon posted... </cite> <quote>Another despondent Reddit user said he retired at 20, having made $4.6 million trading off an initial $15,000 investment only to dump all but $10K back into the crypto exchange. $4,600,000 into $500 in the matter of weeks, the former millionaire wrote. Im not sure if or how ill recover. I lost everything.</quote>How fucking greedy do you have to be to do this? </quote> ... Copied to Clipboard!
wackyteen 05/24/22 1:24:38 AM #7:	Dat_Cracka_Jax posted... How fucking greedy do you have to be to do this? Yeah, I have no sympathy for that They were a fucking idiot and bet all on Red 1. https://youtu.be/xz2ysARjj3s --- The name is wackyteen for a reason. Never doubt. <cite>wackyteen posted [p:965260088] in Young inve... [t:80031745]...</cite> <quote>Dat_Cracka_Jax posted... </cite> <quote>How fucking greedy do you have to be to do this?</quote>Yeah, I have no sympathy for that They were a fucking idiot and bet all on Red 1. https://youtu.be/xz2ysARjj3s </quote> ... Copied to Clipboard!
AltyMcAltface 05/24/22 1:27:15 AM #8:	lmfao @ calling these people "investors" --- "Altenticity is invaluable. Originality is warned/suspended." - Derp Darmusch <cite>AltyMcAltface posted [p:965260112] in Young inve... [t:80031745]...</cite> <quote>lmfao @ calling these people "investors" </quote> ... Copied to Clipboard!
Gobstoppers12 05/24/22 1:27:35 AM #9:	Dat_Cracka_Jax posted... How fucking greedy do you have to be to do this? https://www.youtube.com/watch?v=lnNsFu_2Ur8 --- I write Naruto Fanfiction. But I am definitely not a furry. <cite>Gobstoppers12 posted [p:965260113] in Young inve... [t:80031745]...</cite> <quote>Dat_Cracka_Jax posted... </cite> <quote>How fucking greedy do you have to be to do this?</quote>https://www.youtube.com/watch?v=lnNsFu_2Ur8 </quote> ... Copied to Clipboard!
EyeWontBeFooled 05/24/22 1:31:00 AM #10:	Dat_Cracka_Jax posted... How fucking greedy do you have to be to do this? Lots of big payout lotto winners will do the exact same thing. I worked at a hotel with vlts, and fella once put his ENTIRE PAYCHEQUE in. He won 4000 bucks. Proceeded to put it all back in. Lost it all. Gambling addiction is real. --- You really think this is a sig you're reading? <cite>EyeWontBeFooled posted [p:965260138] in Young inve... [t:80031745]...</cite> <quote>Dat_Cracka_Jax posted... </cite> <quote>How fucking greedy do you have to be to do this?</quote>Lots of big payout lotto winners will do the exact same thing. I worked at a hotel with vlts, and fella once put his ENTIRE PAYCHEQUE in. He won 4000 bucks. Proceeded to put it all back in. Lost it all. Gambling addiction is real. </quote> ... Copied to Clipboard!
Nukazie 05/24/22 1:32:46 AM #11:	CryoForceOmelet posted... It's hard to have sympathy tbh. --- Life is just a journey from the maternity ward to the crematorium. <cite>Nukazie posted [p:965260151] in Young inve... [t:80031745]...</cite> <quote>CryoForceOmelet posted... </cite> <quote>It's hard to have sympathy tbh.</quote> </quote> ... Copied to Clipboard!
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MrMallard 05/24/22 2:03:06 AM #13:	So his savings went from $50,000 to $28,000? It sucks, but he's gonna be fine. Dude can buy a secondhand car for a few thousand dollars like the rest of us, and he's not gonna get booted out on his ass because he has a job and his girlfriend probably contributes to their bills. I can give him the barest amount of respect for not sinking his entire savings into crypto. That's the best I can do. Because even with his losses, he's gonna be fine. --- People say friends don't destroy one another - what do they know about friends? Now Playing: Old-School Runescape, Paladins, Tetris 99 <cite>MrMallard posted [p:965260471] in Young inve... [t:80031745]...</cite> <quote>So his savings went from $50,000 to $28,000? It sucks, but he's gonna be fine. Dude can buy a secondhand car for a few thousand dollars like the rest of us, and he's not gonna get booted out on his ass because he has a job and his girlfriend probably contributes to their bills. I can give him the barest amount of respect for not sinking his entire savings into crypto. That's the best I can do. Because even with his losses, he's gonna be fine. </quote> ... Copied to Clipboard!
BlockAddition 05/24/22 2:04:33 AM #14:	Sux for them, my portfolio's looking great --- signature <cite>BlockAddition posted [p:965260488] in Young inve... [t:80031745]...</cite> <quote>Sux for them, my portfolio's looking great </quote> ... Copied to Clipboard!
Kaiganeer 05/24/22 2:11:47 AM #15:	you love to see it <cite>Kaiganeer posted [p:965260545] in Young inve... [t:80031745]...</cite> <quote>you love to see it </quote> ... Copied to Clipboard!
AceMos 05/24/22 3:26:30 PM #16:	EyeWontBeFooled posted... Lots of big payout lotto winners will do the exact same thing. I worked at a hotel with vlts, and fella once put his ENTIRE PAYCHEQUE in. He won 4000 bucks. Proceeded to put it all back in. Lost it all. Gambling addiction is real. and this is what loot boxes in video games prey on --- 3 things 1. i am female 2. i havea msucle probelm its hard for me to typ well 3.does her janpuu dance <cite>AceMos posted [p:965271874] in Young inve... [t:80031745]...</cite> <quote>EyeWontBeFooled posted... </cite> <quote>Lots of big payout lotto winners will do the exact same thing. I worked at a hotel with vlts, and fella once put his ENTIRE PAYCHEQUE in. He won 4000 bucks. Proceeded to put it all back in. Lost it all. Gambling addiction is real.</quote>and this is what loot boxes in video games prey on </quote> ... Copied to Clipboard!
EndOfDiscOne 05/24/22 3:43:04 PM #17:	Those are rookie numbers --- I am the Cheese! I am the best character on the show! I am better than both the salami and the bologna *COMBINED!* <cite>EndOfDiscOne posted [p:965272221] in Young inve... [t:80031745]...</cite> <quote>Those are rookie numbers </quote> ... Copied to Clipboard!
NeonOctopus 05/24/22 3:43:43 PM #18:	That chick on the right doesn't look young >__> That's not a good 29 lol --- http://i.imgur.com/nlaY1qH.jpg http://i.imgur.com/zHJ1OCo.gif http://i.imgur.com/btBPP4E.jpg http://i.imgur.com/1B3bMHw.gif https://i.imgur.com/2aof3ao.jpg <cite>NeonOctopus posted [p:965272234] in Young inve... [t:80031745]...</cite> <quote>That chick on the right doesn't look young >__> That's not a good 29 lol </quote> ... Copied to Clipboard!
Robot2600 05/24/22 9:49:43 PM #19:	I'm down 50 bucks on crypto :( down 650 from my all time high, but only down 50 from what i invested. --- ( o _o) <cite>Robot2600 posted [p:965280979] in Young inve... [t:80031745]...</cite> <quote>I'm down 50 bucks on crypto :( down 650 from my all time high, but only down 50 from what i invested. </quote> ... Copied to Clipboard!
AceMos 05/24/22 10:40:07 PM #20:	Robot2600 posted... I'm down 50 bucks on crypto :( down 650 from my all time high, but only down 50 from what i invested. thats why you shouldnt invest in a scam --- 3 things 1. i am female 2. i havea msucle probelm its hard for me to typ well 3.does her janpuu dance <cite>AceMos posted [p:965282033] in Young inve... [t:80031745]...</cite> <quote>Robot2600 posted... </cite> <quote>I'm down 50 bucks on crypto :( down 650 from my all time high, but only down 50 from what i invested.</quote>thats why you shouldnt invest in a scam </quote> ... Copied to Clipboard!
Turtlebread 05/24/22 10:41:40 PM #21:	I made like $30k and jumped ship lol funded all my holidays through university --- http://i.imgur.com/yCW15Zn.jpg <cite>Turtlebread posted [p:965282060] in Young inve... [t:80031745]...</cite> <quote>I made like $30k and jumped ship lol funded all my holidays through university </quote> ... Copied to Clipboard!
AceMos 05/24/22 10:45:20 PM #22:	Turtlebread posted... I made like $30k and jumped ship lol funded all my holidays through university so you scammed people --- 3 things 1. i am female 2. i havea msucle probelm its hard for me to typ well 3.does her janpuu dance <cite>AceMos posted [p:965282125] in Young inve... [t:80031745]...</cite> <quote>Turtlebread posted... </cite> <quote>I made like $30k and jumped ship lol funded all my holidays through university</quote>so you scammed people </quote> ... Copied to Clipboard!
Turtlebread 05/24/22 10:47:27 PM #23:	AceMos posted... so you scammed people Yes and I feel nothing --- http://i.imgur.com/yCW15Zn.jpg <cite>Turtlebread posted [p:965282171] in Young inve... [t:80031745]...</cite> <quote>AceMos posted... </cite> <quote>so you scammed people</quote> Yes and I feel nothing </quote> ... Copied to Clipboard!
Trumpo 05/24/22 10:48:56 PM #24:	If you see wsb loss porn this is nothing <cite>Trumpo posted [p:965282198] in Young inve... [t:80031745]...</cite> <quote>If you see wsb loss porn this is nothing </quote> ... Copied to Clipboard!
Rathinor 05/24/22 11:13:35 PM #25:	MattMurdock posted... That means they overleveraged. I only invest what I can afford to lose, and I've only been buying more during these dips. Buying your useless jpegs you can't actually exchange for money doesn't count SirMixaLot <cite>Rathinor posted [p:965282689] in Young inve... [t:80031745]...</cite> <quote>MattMurdock posted... </cite> <quote>That means they overleveraged. I only invest what I can afford to lose, and I've only been buying more during these dips.</quote>Buying your useless jpegs you can't actually exchange for money doesn't count SirMixaLot </quote> ... Copied to Clipboard!
AceMos 05/24/22 11:17:35 PM #26:	Turtlebread posted... Yes and I feel nothing then you are an awful person --- 3 things 1. i am female 2. i havea msucle probelm its hard for me to typ well 3.does her janpuu dance <cite>AceMos posted [p:965282758] in Young inve... [t:80031745]...</cite> <quote>Turtlebread posted... </cite> <quote>Yes and I feel nothing</quote>then you are an awful person </quote> ... Copied to Clipboard!
Irony 05/24/22 11:18:42 PM #27:	https://gamefaqs.gamespot.com/a/user_image/5/1/4/AAJHVqAADP46.jpg --- I am Mogar, God of Irony and The Devourer of Topics. <cite>Irony posted [p:965282778] in Young inve... [t:80031745]...</cite> <quote>https://gamefaqs.gamespot.com/a/user_image/5/1/4/AAJHVqAADP46.jpg </quote> ... Copied to Clipboard!
Zero_Slash 05/24/22 11:20:48 PM #28:	Lebronwon posted... It was half of his savings, but since he couldnt afford a 10% down payment on a home in Westchester What a load. He doesn't need a 500k house. --- Current Title: Title Master Titles Given: 12 <cite>Zero_Slash posted [p:965282816] in Young inve... [t:80031745]...</cite> <quote>Lebronwon posted... </cite> <quote>It was half of his savings, but since he couldnt afford a 10% down payment on a home in Westchester</quote>What a load. He doesn't need a 500k house. </quote> ... Copied to Clipboard!
JuanCarlos1 05/24/22 11:20:59 PM #29:	People got too greedy. If you somehow manage to 2x, 3x your investment in such a short time just get out while you can. Of course easier said than done. --- Mas dicen, que en las dimensiones de nuestro ser... hay muchos detalles por conocer... <cite>JuanCarlos1 posted [p:965282821] in Young inve... [t:80031745]...</cite> <quote>People got too greedy. If you somehow manage to 2x, 3x your investment in such a short time just get out while you can. Of course easier said than done. </quote> ... Copied to Clipboard!
JTilly 05/24/22 11:22:48 PM #30:	Dey didnt listen to the buy low sell high strat smh --- pEaK cEman <cite>JTilly posted [p:965282863] in Young inve... [t:80031745]...</cite> <quote>Dey didnt listen to the buy low sell high strat smh </quote> ... Copied to Clipboard!
Sad_Face 05/24/22 11:28:26 PM #31:	Dat_Cracka_Jax posted... How f*ing greedy do you have to be to do this? The UST was advertised as USD stablecoin and the Anchor Protocol was promoted as safe returns for 20% APY. They would have gotten away with it too had it not been for an attacker using almost $4 billion worth of capital to take down the blockchain. --- https://i.imgur.com/WmIB016.jpg https://i.imgur.com/53FGj6K.gif <cite>Sad_Face posted [p:965282997] in Young inve... [t:80031745]...</cite> <quote>Dat_Cracka_Jax posted...</cite> <quote>How f*ing greedy do you have to be to do this?</quote> The UST was advertised as USD stablecoin and the Anchor Protocol was promoted as safe returns for 20% APY. They would have gotten away with it too had it not been for an attacker using almost $4 billion worth of capital to take down the blockchain.</quote> ... Copied to Clipboard!
apocalyptic_4 05/24/22 11:31:28 PM #32:	Oof I only invested a little over 3k mostly in ETH havnt checked my crypto portfolio since Jan I have no idea where I'm at. Loosing way more in stocks anyways but what can you do. --- XBL: Mrpicardbottoms PSN: Bosh369 <cite>apocalyptic_4 posted [p:965283061] in Young inve... [t:80031745]...</cite> <quote>Oof I only invested a little over 3k mostly in ETH havnt checked my crypto portfolio since Jan I have no idea where I'm at. Loosing way more in stocks anyways but what can you do. </quote> ... Copied to Clipboard!
Rathinor 05/24/22 11:32:55 PM #33:	Crypto is a giant house of cards. Looks like someone breathed a little too hard. <cite>Rathinor posted [p:965283093] in Young inve... [t:80031745]...</cite> <quote>Crypto is a giant house of cards. Looks like someone breathed a little too hard. </quote> ... Copied to Clipboard!
AceMos 05/25/22 12:29:05 AM #34:	Sad_Face posted... The UST was advertised as USD stablecoin and the Anchor Protocol was promoted as safe returns for 20% APY. They would have gotten away with it too had it not been for an attacker using almost $4 billion worth of capital to take down the blockchain. IT IS A SCAM --- 3 things 1. i am female 2. i havea msucle probelm its hard for me to typ well 3.does her janpuu dance <cite>AceMos posted [p:965283981] in Young inve... [t:80031745]...</cite> <quote>Sad_Face posted... </cite> <quote>The UST was advertised as USD stablecoin and the Anchor Protocol was promoted as safe returns for 20% APY. They would have gotten away with it too had it not been for an attacker using almost $4 billion worth of capital to take down the blockchain.</quote>IT IS A SCAM </quote> ... Copied to Clipboard!
Sad_Face 05/25/22 1:32:19 AM #35:	AceMos posted... IT IS A SCAM I don't want hear that **. Calling it a scam is intellectually lazy and ignores the sheer scale of effort (more so capital) made to crash the blockchain. More importantly, if you call everything a scam and not actually articulate on what the problems are with X,Y, and Z projects, and you won't be able to discern legitimate projects from non-legitimate projects (and there are a number of by your caveman logic, "scams" that still persist for years without having blown up spectacularly) and will ultimately conclude "crypto is a scam" even though blockchain tech is the next evolution of the internet. In any case, Terra's fundamental problem was that it relied on an algorithmic stablecoin algorithm where algorithmic stablecoins typically don't have collateral to back its stablecoin. However, back in March Terra's company did acquire BTC to help collateralize the stabelcoin. Now granted, no algorithmic stablecoins have survived historically but what brought Terra down in this particular case was the attacker deliberately using a mass amount of funds to depeg the stablecoin and ultimately crash the chain. If you guys want to learn about the attack in depth, Bankless did a great job detailing how it went down. https://www.youtube.com/watch?v=FqW4-FGA9j4 --- https://i.imgur.com/WmIB016.jpg https://i.imgur.com/53FGj6K.gif <cite>Sad_Face posted [p:965284759] in Young inve... [t:80031745]...</cite> <quote>AceMos posted...</cite> <quote>IT IS A SCAM </quote> I don't want hear that **. Calling it a scam is intellectually lazy and ignores the sheer scale of effort (more so capital) made to crash the blockchain. More importantly, if you call everything a scam and not actually articulate on what the problems are with X,Y, and Z projects, and you won't be able to discern legitimate projects from non-legitimate projects (and there are a number of by your caveman logic, "scams" that still persist for years without having blown up spectacularly) and will ultimately conclude "crypto is a scam" even though blockchain tech is the next evolution of the internet. In any case, Terra's fundamental problem was that it relied on an algorithmic stablecoin algorithm where algorithmic stablecoins typically don't have collateral to back its stablecoin. However, back in March Terra's company did acquire BTC to help collateralize the stabelcoin. Now granted, no algorithmic stablecoins have survived historically but what brought Terra down in this particular case was the attacker deliberately using a mass amount of funds to depeg the stablecoin and ultimately crash the chain. If you guys want to learn about the attack in depth, Bankless did a great job detailing how it went down. https://www.youtube.com/watch?v=FqW4-FGA9j4</quote> ... Copied to Clipboard!
AceMos 05/25/22 1:36:52 AM #36:	yea @Sad_Face ppl make money on scams but they are still scams block chain is just a scam it was never anything but a scam you got scammed stop denying it --- 3 things 1. i am female 2. i havea msucle probelm its hard for me to typ well 3.does her janpuu dance <cite>AceMos posted [p:965284816] in Young inve... [t:80031745]...</cite> <quote>yea @Sad_Face ppl make money on scams but they are still scams block chain is just a scam it was never anything but a scam you got scammed stop denying it </quote> ... Copied to Clipboard!
AltyMcAltface 05/25/22 1:38:52 AM #37:	Sad_Face posted... I don't want hear that **. Calling it a scam is intellectually lazy and ignores the sheer scale of effort (more so capital) made to crash the blockchain. More importantly, if you call everything a scam and not actually articulate** on what the problems are with X,Y, and Z projects, and you won't be able to discern legitimate projects from non-legitimate projects (and there are a number of by your caveman logic, "scams" that still persist for years without having blown up spectacularly) and will ultimately conclude "crypto is a scam" even though blockchain tech is the next evolution of the internet. In any case, Terra's fundamental problem was that it relied on an algorithmic stablecoin algorithm where algorithmic stablecoins typically don't have collateral to back its stablecoin. However, back in March Terra's company did acquire BTC to help collateralize the stabelcoin. Now granted, no algorithmic stablecoins have survived historically but what brought Terra down in this particular case was the attacker deliberately using a mass amount of funds to depeg the stablecoin and ultimately crash the chain. If you guys want to learn about the attack in depth, Bankless did a great job detailing how it went down. https://www.youtube.com/watch?v=FqW4-FGA9j4 lol nah brah it's a scam --- "Altenticity is invaluable. Originality is warned/suspended." - Derp Darmusch <cite>AltyMcAltface posted [p:965284842] in Young inve... [t:80031745]...</cite> <quote>Sad_Face posted... </cite> <quote>I don't want hear that ****. Calling it a scam is intellectually lazy and ignores the sheer scale of effort (more so capital) made to crash the blockchain. More importantly, if you call everything a scam and not actually articulate on what the problems are with X,Y, and Z projects, and you won't be able to discern legitimate projects from non-legitimate projects (and there are a number of by your caveman logic, "scams" that still persist for years without having blown up spectacularly) and will ultimately conclude "crypto is a scam" even though blockchain tech is the next evolution of the internet. In any case, Terra's fundamental problem was that it relied on an algorithmic stablecoin algorithm where algorithmic stablecoins typically don't have collateral to back its stablecoin. However, back in March Terra's company did acquire BTC to help collateralize the stabelcoin. Now granted, no algorithmic stablecoins have survived historically but what brought Terra down in this particular case was the attacker deliberately using a mass amount of funds to depeg the stablecoin and ultimately crash the chain. If you guys want to learn about the attack in depth, Bankless did a great job detailing how it went down. https://www.youtube.com/watch?v=FqW4-FGA9j4</quote>lol nah brah it's a scam </quote> ... Copied to Clipboard!
Sad_Face 05/25/22 1:46:35 AM #38:	AceMos posted... block chain is just a scam it was never anything but a scam you got scammed stop denying it Dude, $42 Billion dollars worth of capital was raised to build products in the industry. And that's independent from the banking industry that working on beginning to enter the space and start adopting its technologies by the end of the year. It's your words against their money and actions. https://www.swift.com/news-events/news/past-and-future-securities-are-course-converge-not-collide --- https://i.imgur.com/WmIB016.jpg https://i.imgur.com/53FGj6K.gif <cite>Sad_Face posted [p:965284948] in Young inve... [t:80031745]...</cite> <quote>AceMos posted...</cite> <quote>block chain is just a scam it was never anything but a scam you got scammed stop denying it </quote> Dude, $42 Billion dollars worth of capital was raised to build products in the industry. And that's independent from the banking industry that working on beginning to enter the space and start adopting its technologies by the end of the year. It's your words against their money and actions. https://www.swift.com/news-events/news/past-and-future-securities-are-course-converge-not-collide</quote> ... Copied to Clipboard!
Gobstoppers12 05/25/22 1:53:45 AM #39:	Sad_Face posted... Calling it a scam is intellectually lazy It's all a scam, dude. --- I write Naruto Fanfiction. But I am definitely not a furry. <cite>Gobstoppers12 posted [p:965285041] in Young inve... [t:80031745]...</cite> <quote>Sad_Face posted... </cite> <quote>Calling it a scam is intellectually lazy</quote>It's all a scam, dude. </quote> ... Copied to Clipboard!
AceMos 05/25/22 1:53:50 AM #40:	sad go ahead and list one thing that block chain does that cant be done with out it --- 3 things 1. i am female 2. i havea msucle probelm its hard for me to typ well 3.does her janpuu dance <cite>AceMos posted [p:965285045] in Young inve... [t:80031745]...</cite> <quote>sad go ahead and list one thing that block chain does that cant be done with out it </quote> ... Copied to Clipboard!
Solid Snake07 05/25/22 2:02:36 AM #41:	Probably shouldnt have invested in digital funny money they didnt really understand past the fact that someone told them its going to keep going up. --- "People incapable of guilt usually do have a good time" -Detective Rust Cohle <cite>Solid Snake07 posted [p:965285134] in Young inve... [t:80031745]...</cite> <quote>Probably shouldnt have invested in digital funny money they didnt really understand past the fact that someone told them its going to keep going up. </quote> ... Copied to Clipboard!
Sad_Face 05/25/22 2:45:48 AM #42:	AceMos posted... sad go ahead and list one thing that block chain does that cant be done with out it Let me send a payment to someone in Russia. Now tell me Ace, what is the US dollar backed by? --- https://i.imgur.com/WmIB016.jpg https://i.imgur.com/53FGj6K.gif <cite>Sad_Face posted [p:965285499] in Young inve... [t:80031745]...</cite> <quote>AceMos posted...</cite> <quote>sad go ahead and list one thing that block chain does that cant be done with out it </quote> Let me send a payment to someone in Russia. Now tell me Ace, what is the US dollar backed by?</quote> ... Copied to Clipboard!
Sonic Cannon 05/25/22 2:51:20 AM #43:	The US dollar is backed by: Being the currency in which US residents and citizens are required to pay their taxes Being almost universally accepted as a means of exchange and transaction --- Keep it green. <cite>Sonic Cannon posted [p:965285539] in Young inve... [t:80031745]...</cite> <quote>The US dollar is backed by: Being the currency in which US residents and citizens are required to pay their taxesBeing almost universally accepted as a means of exchange and transaction</quote> ... Copied to Clipboard!
Beveren_Rabbit 05/25/22 2:52:31 AM #44:	Dat_Cracka_Jax posted... How fucking greedy do you have to be to do this? if you had a shot to be a billionaire instead of a millionaire wouldn't you go for it? --- flops <cite>Beveren_Rabbit posted [p:965285550] in Young inve... [t:80031745]...</cite> <quote>Dat_Cracka_Jax posted...</cite> <quote> How fucking greedy do you have to be to do this? </quote> if you had a shot to be a billionaire instead of a millionaire wouldn't you go for it?</quote> ... Copied to Clipboard!
Gobstoppers12 05/25/22 3:00:17 AM #45:	Sad_Face posted... Let me send a payment to someone in Russia why are you dealing with people in Russia right now though --- I write Naruto Fanfiction. But I am definitely not a furry. <cite>Gobstoppers12 posted [p:965285617] in Young inve... [t:80031745]...</cite> <quote>Sad_Face posted... </cite> <quote>Let me send a payment to someone in Russia</quote>why are you dealing with people in Russia right now though </quote> ... Copied to Clipboard!
Number090684 05/25/22 3:12:49 AM #46:	Greed can be a harsh mentor, but one that can make a man humble, and thus one of the best around.... If you're going to invest, never go all in, or even a third of the way, make sure it's money you can easily afford to lose, and invest in things that actually matter. The guy was blinded by greed, gambled a chunk of his savings, lost a lot of it and only has himself to blame. <cite>Number090684 posted [p:965285717] in Young inve... [t:80031745]...</cite> <quote>Greed can be a harsh mentor, but one that can make a man humble, and thus one of the best around.... If you're going to invest, never go all in, or even a third of the way, make sure it's money you can easily afford to lose, and invest in things that actually matter. The guy was blinded by greed, gambled a chunk of his savings, lost a lot of it and only has himself to blame. </quote> ... Copied to Clipboard!
Sad_Face 05/25/22 3:24:42 AM #47:	Sonic Cannon posted... The US dollar is backed by: * Being the currency in which US residents and citizens are required to pay their taxes * Being almost universally accepted as a means of exchange and transaction Close enough, I was looking for two things, it being the world reserve currency (which is why it's universally accepted) and it being a petrodollar. But really, what enforces these two properties is the US military. It's part of the reason why we've been involved in a lot of conflict in the Middle East. Any country that dares threaten the US dollar world reserve currency status must be neutralized. This is part of why this Russian-Ukraine conflict is critical for the Ukraine to win. I bring this up because to understand the bitcoin and to understand the rest of the blockchain industry, specifically the value of smart contracts (which dwarfs the impact the bitcoin will have on the world), you have to understand the problems they're solving. If you don't understand the problem, you'll just think they're sloppy and chaotic solutions looking for a solution to solve and overall just a bunch of scams. With the Bitcoin, you have to understand the history of the US dollar and how much damage it has caused in this world and why so there are countries are desperate for a financial system that isn't dominated by the US. The bitcoin network offers a fair solution that allows anyone to conduct a transaction to anyone regardless of where they live and more importantly the protocol in practice is incapable of confiscating the BTC in your wallet nor can they freeze your transactions (this is why the network consumes so much energy; to prevent the latter action from being possible). Contrast this to Russian citizens who are barred from global financial system because of their government's actions against another country. Mind you, I own like $500 worth of BTC, but I bring this up as an example to show what problems are being solved in this field irrespective of my own personal biases. --- https://i.imgur.com/WmIB016.jpg https://i.imgur.com/53FGj6K.gif <cite>Sad_Face posted [p:965285803] in Young inve... [t:80031745]...</cite> <quote>Sonic Cannon posted...</cite> <quote>The US dollar is backed by: * Being the currency in which US residents and citizens are required to pay their taxes * Being almost universally accepted as a means of exchange and transaction </quote> Close enough, I was looking for two things, it being the world reserve currency (which is why it's universally accepted) and it being a petrodollar. But really, what enforces these two properties is the US military. It's part of the reason why we've been involved in a lot of conflict in the Middle East. Any country that dares threaten the US dollar world reserve currency status must be neutralized. This is part of why this Russian-Ukraine conflict is critical for the Ukraine to win. I bring this up because to understand the bitcoin and to understand the rest of the blockchain industry, specifically the value of smart contracts (which dwarfs the impact the bitcoin will have on the world), you have to understand the problems they're solving. If you don't understand the problem, you'll just think they're sloppy and chaotic solutions looking for a solution to solve and overall just a bunch of scams. With the Bitcoin, you have to understand the history of the US dollar and how much damage it has caused in this world and why so there are countries are desperate for a financial system that isn't dominated by the US. The bitcoin network offers a fair solution that allows anyone to conduct a transaction to anyone regardless of where they live and more importantly the protocol in practice is incapable of confiscating the BTC in your wallet nor can they freeze your transactions (this is why the network consumes so much energy; to prevent the latter action from being possible). Contrast this to Russian citizens who are barred from global financial system because of their government's actions against another country. Mind you, I own like $500 worth of BTC, but I bring this up as an example to show what problems are being solved in this field irrespective of my own personal biases.</quote> ... Copied to Clipboard!
Gobstoppers12 05/25/22 3:26:32 AM #48:	Sad_Face posted... Any country that dares threaten the US dollar world reserve currency status must be neutralized. oh heeeere we go..... It's about to get real silly in this topic. --- I write Naruto Fanfiction. But I am definitely not a furry. <cite>Gobstoppers12 posted [p:965285815] in Young inve... [t:80031745]...</cite> <quote>Sad_Face posted... </cite> <quote>Any country that dares threaten the US dollar world reserve currency status must be neutralized.</quote>oh heeeere we go..... It's about to get real silly in this topic. </quote> ... Copied to Clipboard!
AceMos 05/25/22 3:38:51 AM #49:	Sad_Face posted... Let me send a payment to someone in Russia. Now tell me Ace, what is the US dollar backed by? you dont need block chain to do that --- 3 things 1. i am female 2. i havea msucle probelm its hard for me to typ well 3.does her janpuu dance <cite>AceMos posted [p:965285896] in Young inve... [t:80031745]...</cite> <quote>Sad_Face posted... </cite> <quote>Let me send a payment to someone in Russia. Now tell me Ace, what is the US dollar backed by?</quote>you dont need block chain to do that </quote> ... Copied to Clipboard!
008Zulu 05/25/22 3:43:19 AM #50:	They can always turn to producing porn. Some people have allegedly made millions in a year on a certain enthusiasts website. --- If you're not smart enough to survive, you are basically just food for something smarter. <cite>008Zulu posted [p:965285931] in Young inve... [t:80031745]...</cite> <quote>They can always turn to producing porn. Some people have allegedly made millions in a year on a certain enthusiasts website. </quote> ... Copied to Clipboard!
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Current Events > Young investors are losing big in crypto crash: 'I didn't sleep for days' (+) Yeah! (+)

Current Events > Young investors are losing big in crypto crash: 'I didn't sleep for days'