Crypto guys crying or wailing by now

[RV Pundit]

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BTC is headed to 10Kusd from high of 60Kusd some few years ago

BREAKING: Crypto firm Genesis says it may have to declare bankruptcy without new funding

— The Spectator Index (@spectatorindex) November 21, 2022

[KenyanPlato]

crypto idiots getting schooled. how do you invest in ability to create a computer ledger? how?

[RV Pundit]

They are nut cases.

crypto idiots getting schooled. how do you invest in ability to create a computer ledger? how?

[Kadudu]

I have seen reports of people buying computers and making a living out of mining cryto coins. What nonsense is that?

[RV Pundit]

That probably the only value of bitcoin - otherwise it's now useless because it's been banned everywhere as legal tender. They are using lots of computer power to basically count large numbers; The most useless "economic" activity eve conjured by men - and it's worth trillion of dollars.

The biggest ponzi there ever was. As long as they can recruit new fools with fancy propaganda about fiat money & how gov controls & lots of conspiracy they are in business. Until the domino start to come down like now.

I have seen reports of people buying computers and making a living out of mining cryto coins. What nonsense is that?

[RV Heavy Hitter!]

They have all been brought to the ground after Sam Bankman and other conmen came down with a thud! I don't like stress or anything complicated, so I do predictable traditional stocks and things I can convert to cash the next business day.

[RV Pundit]

It basically a ponzi. I remember when I was newly minted graduate there were Ponzi in Nairobi selling email and other computer packages; I was forced by colleaque - persistant woman to join GNLD - she literally dragged me to City Hall from intl org where we both worked - I paid 5K for a package of vitamin D and other concotion - joined her network and heard stories of success - like those church evangicals - big GNLD driving big cars and going for big holidays; as long as you can recruit more; the money flows; until new recruits stop coming; and then everyone try to cash out before it crashes; and it crashes.

I never used that GNLD package - I couldnt trust it with all amino and vitamin bla  - so dumped it - and I had no intention of recruiting people

[Georgesoros]

That probably the only value of bitcoin - otherwise it's now useless because it's been banned everywhere as legal tender. They are using lots of computer power to basically count large numbers; The most useless "economic" activity eve conjured by men - and it's worth trillion of dollars.

The biggest ponzi there ever was. As long as they can recruit new fools with fancy propaganda about fiat money & how gov controls & lots of conspiracy they are in business. Until the domino start to come down like now.

I have seen reports of people buying computers and making a living out of mining cryto coins. What nonsense is that?

You wont understand, bro.

[Georgesoros]

It basically a ponzi. I remember when I was newly minted graduate there were Ponzi in Nairobi selling email and other computer packages; I was forced by colleaque - persistant woman to join GNLD - she literally dragged me to City Hall from intl org where we both worked - I paid 5K for a package of vitamin D and other concotion - joined her network and heard stories of success - like those church evangicals - big GNLD driving big cars and going for big holidays; as long as you can recruit more; the money flows; until new recruits stop coming; and then everyone try to cash out before it crashes; and it crashes.

I never used that GNLD package - I couldnt trust it with all amino and vitamin bla  - so dumped it - and I had no intention of recruiting people

One day it will shoot up and voila, am a bil. Robina is a bil even after this rout.

[RV Pundit]

Yes there are still people who still making money - but this not investing - at best it gambling in a ponzi - with hope you'll get out. Problem you cant time perfectly when to get out.

So theoretical those who bought before 2018/2017 are still okay but for how long. How low can we go here? Below 10K look almost foregone and that is when it starts to hurt.

And can you get out or youre waching become pauper from being billionaire in few months ago.

One day it will shoot up and voila, am a bil. Robina is a bil even after this rout.

[RV Pundit]

Binance now targetting kenyas

https://www.businessdailyafrica.com/bd/corporate/technology/crypto-exchange-binance-appoints-east-africa-boss--4028096

[Githunguri]

It's very simple.

1) There are more crypto currencies holders than cash holders in the crypto market.That means more people selling bitcoin than those buying which means there is no cash...price falls.

2) Crypto buyers and sellers store their money in crypto exchanges owned by fraudsters and registered in offshore states like vanuatu with no regulatory framework.the owners of these exchanges steal the money and exglchanges collapse like ftx...this leads to panic withdrawals and price falls.

Avoid.

[RV Pundit]

Coinbase

The market is worried about Coinbase’s solvency.

Here’s what I know:

— Genevieve Roch-Decter, CFA (@GRDecter) November 22, 2022