I've never owned shares but decided to jump into cyrpo before buying shares.
I've invested $3500 so far and it's gone up to a value of $4130.
A small increase but likely to double I'd say over the coming year.
I'm too scared to invest more incase they crash again.
No, too volatile - a few of my clients have done very well out of it though.
shareYep, I started investing when I won a huge sum in bitcoins in a poker online tournament. I usually play there https://syndicate.casino. After that, I started to invest half of my wage into a bitcoin.
shareDecent pump from Eth lately.
shareI have been looking into Tether and its connection to Bitcoin. Its highly likely that Tether is a scam and has been printing its own tokens to inflate/manipulate the price of BTC as well as other cryptocurrencies so I sold about 30% of my crypto portfolio today. Even though I believe crypto has a long term future (when it gets regulated), I am probably going to sell the rest of my BTC in the near future. I advise everyone who is considering investing to do your due diligence and research.
shareThe beauty of crypto is that it's not regulated.
shareIts a double-edged sword. Criminals can (and do) create fake new "coins", pump and dump. Then you have scam companies like Tether (who haven´t been audited yet) creating money out of thin air. Its the wild west and there is very little recourse if you get screwed. I am a fan of blockchain tech but not while all this is going on so I have sold most of my position because I am not comfortable in the space and its going to be a bloodbath if Tether really is a scam.
share create fake new "coins",
Hows that work?
all the coins are linked cryptographicly and every coin signature decoded must fit into the block-chain ...
..or similar , is how i understood it .
you cant just make them up surely?
Because Tether creates their own token called USDT that they use to buy crypto, which is supposed to be pegged to the $US 1 for 1 (meaning for every $1 USDT created there should be an equivalent $1 USD in a bank account), but they have already been caught out lying about this. They posted 2 pie graphs not long ago explaining their real cash reserves which was something like only 5% of the $60B of USDT they actually have produced.
What this means is that when everyone decides they actually want to convert their USDT to real dollars, they won´t be able to since the dollars don´t actually exist.
People have done some digging and it turns out Tether has been buying up 70% of the entire daily crypto supply with USDT which pumps the price, then they can sell it and withdraw it in real currency. Since Tether started being investigated they have accelerated their rate of printing more and more of their tokens with no accountability or transparency. This year alone they created $40 billion in Tether, if they wanted to buy all the Bitcoin mined this year at an average of $30K it would cost them only around $5B so you do the math.
This video sums up what it happening pretty well to the average lay person.
https://www.youtube.com/watch?v=jFp86n7QCf0&t=127s
RE: fake new "coins". There are coin startups called "ICOs",or initial coin offerings, some are legit but most are just scams. There have literally been thousands of them and people invest thinking they might get glorious returns on the "next BTC or ETH" but they are just literally scams created by criminals designed to swindle money from people with no tech backing them apart from some fancy marketing. For every "successful"coin there are literally hundreds of failed coins some legit but mostly just scams.
sharevery informative , thanks
share
Yeah, and it's just as likely that it will crash, and you'll lose your ass. So you're obviously a wild and crazy guy!
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