Respectfully disagreeing with Leo about Crypto

[Juan]

8 hours ago, Leo Gura said:

Don't think that all this hype will stay around forever.

Funny thing is, this has been ALWAYS about hype, who remembers about NFTs? Those days are over.

[Daniel Balan]

@OBEler I'm no genius, but when more people buy, the prices go up, when the demand is lower, the price is lower. Sorry but I don't want to be cannon fodder for the thieves that speculate the market. If I have money, and I want to invest I would rather buy land or an apartment and rent it afterwards than to buy crypto. Which btw I know nothing about nor do I care to know about it. Why? Because I see everywhere that people all encourage and promote the buying of Crypto. And when someone pushes this so hard, for me it is clear as day that is a scam. And also, because Andrew Tate promotes crypto heavily. And when Tate promotes something, i don't care what it is about, for me , IT IS SHIT. And I should stay as far away as possible. 

[OBEler]

1 minute ago, Daniel Balan said:

@OBEler I'm no genius, but when more people buy, the prices go up, when the demand is lower, the price is lower. Sorry but I don't want to be cannon fodder for the thieves that speculate the market. If I have money, and I want to invest I would rather buy land or an apartment and rent it afterwards than to buy crypto. Which btw I know nothing about nor do I care to know about it. Why? Because I see everywhere that people all encourage and promote the buying of Crypto. And when someone pushes this so hard, for me it is clear as day that is a scam. And also, because Andrew Tate promotes crypto heavily. And when Tate promotes something, i don't care what it is about, for me , IT IS SHIT. And I should stay as far away as possible. 

Your thoughts are very simple on this topic, maybe they become more complex if you inform yourself and put your emotions aside and look at this whole crypto from an objective perspective. But first you need to be openmind that your first impressions could be wrong.

Look what ethereum can do. Look at this new technology of smart contracts. After that you can decide if it's a scam or not. 

[Daniel Balan]

@OBEler I appreciate your friendly tone of response, I use my money very carefully, I spend money on food, and on urgent household payments, I am very careful on how I spend it. But I will educate myself about crypto sometime in the future.

[FourCrossedWands]

The potential risk of investing in crypto is just not worth it IMO. It's not just the risk of the bubble crashing, but there are many other risks as well that you guys don't want to see:

1) You losing your crypto wallet or getting it stolen, etc.

2) You being scammed by a crypto company (blocking your account, impossible to withdraw, etc.)

3) Your mind getting completely fucked by becoming a mindless crypto bro promoting Bitcoin to everyone and voting for Donald J Trump 😉

[OBEler]

1 hour ago, FourCrossedWands said:

The potential risk of investing in crypto is just not worth it IMO. It's not just the risk of the bubble crashing, but there are many other risks as well that you guys don't want to see:

1) You losing your crypto wallet or getting it stolen, etc.

2) You being scammed by a crypto company (blocking your account, impossible to withdraw, etc.)

3) Your mind getting completely fucked by becoming a mindless crypto bro promoting Bitcoin to everyone and voting for Donald J Trump 😉

You read too much click bait stories about people who failed. If you are not very very stupid these things will not happen. It's pretty save. And no you don't need a local wallet. These things are outdated.

It is indeed worth the risk. Just look at the chart. Look how many percentage over 15 years it raised. Even if Bitcoin crashes 80 percent iregularly t still outperfoms almost everything long-term. 

 

[josemar]

On 08/08/2024 at 3:27 PM, Leo Gura said:

You know the all-time high of Bitcoin is 70k. So don't buy near that. Do not buy anything at all-time highs.

Good advice, normally... where are we now?

15 hours ago, Leo Gura said:

A crypto crash is def coming, so watch your asses.

Don't think that all this hype will stay around forever. The crypto grifters are griftin hard.

I keep making the distinction between "crypto" and "bitcoin". They are NOT the same thing.

When bitcoin is going to be added to the strategic reserve in a few days or weeks in the USA, and when countries will try to front-run the USA in getting there... will you still maintain this position?

Yes, "a crash" is probably coming, but depends how you define it. 30% drawdowns for bitcoin are pretty common even in a bull market... that's not a crash. if the 30% drawdown comes after a 100%-600% upside (BTC was 16k in Jan 2023), are you telling your followers to stay away from making money? Not everyone here can afford to ignore bitcoin, but this is exactly what you're doing to them... Meanwhile, their USD savings are withering away in a bank account, or worse, under their mattress @Daniel Balan

To everyone else, I'd advise to research bitcoin on your own, don't rely on Leo's uninformed opinion...

And if we see a pullback to 70k, that only means a second chance to get it at a discount...

[FourCrossedWands]

1 hour ago, OBEler said:

Just look at the chart.

 

All I see is greed, fear, fomo, and delusion. Just a mix of human emotions pictured in a chart. No fundamentals whatsoever.

[josemar]

2 minutes ago, FourCrossedWands said:

All I see is greed, fear, fomo, and delusion. Just a mix of human emotions pictured in a chart. No fundamentals whatsoever.

That's not on the chart, it's in your eye 

[BuddhistLover]

If crypto crash is coming. I guess it's best to buy that Bitcoin unrealized return while it's still on the rise before the crypto crash comes upon the horizon. 

[FourCrossedWands]

Also, look at some of the biggest crypto exchanges recent reviews, a lot of people got their accounts closed for no reason. It's just a pure scam. Good luck cashing out lol.

https://www.trustpilot.com/review/binance.com

https://www.trustpilot.com/review/crypto.com

https://www.trustpilot.com/review/coinbase.com

https://www.trustpilot.com/review/kraken.com

https://www.trustpilot.com/review/gemini.com

Edited 33 minutes ago by FourCrossedWands

[Hardkill]

He's right about how Trump will contribute to a serious crypto of some kind in the future.