Quote: @medaille said:
Just for reference here’s the amount of market capitalization
lost for various companies since the beginning of the year.
Apple: 641 Billion
Microsoft: 520 Billion
Alphabet: 404 Billion
Amazon: 571 Billion
Tesla: 519 Billion
The top 5 companies lost 2.655 Trillion in market capitalization
since the beginning of the year.
Correct, except those companies actually have value…assets that could be liquidated.
Quote: @AGRforever said:
@ medaille said:
Just for reference here’s the amount of market capitalization
lost for various companies since the beginning of the year.
Apple: 641 Billion
Microsoft: 520 Billion
Alphabet: 404 Billion
Amazon: 571 Billion
Tesla: 519 Billion
The top 5 companies lost 2.655 Trillion in market capitalization
since the beginning of the year.
Correct, except those companies actually have value…assets that could be liquidated.
Exactly.
I do feel that some of the larger cryptocurrency providers will manage to survive....I don't feel its dead by any stretch. But this was always going to happen, the crypto winter.
Quote: @AGRforever said:
@ medaille said:
Just for reference here’s the amount of market capitalization
lost for various companies since the beginning of the year.
Apple: 641 Billion
Microsoft: 520 Billion
Alphabet: 404 Billion
Amazon: 571 Billion
Tesla: 519 Billion
The top 5 companies lost 2.655 Trillion in market capitalization
since the beginning of the year.
Correct, except those companies actually have value…assets that could be liquidated.
I’ll give Amazon a call and tell them to liquidate some
assets so they can get me back to where I was at the beginning of the year. 
Quote: @StickyBun said:
@ AGRforever said:
@ medaille said:
Just for reference here’s the amount of market capitalization
lost for various companies since the beginning of the year.
Apple: 641 Billion
Microsoft: 520 Billion
Alphabet: 404 Billion
Amazon: 571 Billion
Tesla: 519 Billion
The top 5 companies lost 2.655 Trillion in market capitalization
since the beginning of the year.
Correct, except those companies actually have value…assets that could be liquidated.
Exactly.
I do feel that some of the larger cryptocurrency providers will manage to survive....I don't feel its dead by any stretch. But this was always going to happen, the crypto winter.
I think the story behind the crypto market is mostly that the
huge financial players saw an opportunity to make some money in a new
unregulated environment and pushed crypto into a huge bubble then got out when
the rest of the market started drifting the wrong way.
I think with crypto being as hard to understand as it is, it’s
going to take some time for people to begin to differentiate which ones are
based on solid reasoning and which ones need to fail. I imagine there’s going to be a steady stream
of bad ideas failing and then the solid ones will start to rebuild value once
the rest of the market starts to trend back upwards again.
Quote: @medaille said:
I think the story behind the crypto market is mostly that the
huge financial players saw an opportunity to make some money in a new
unregulated environment and pushed crypto into a huge bubble then got out when
the rest of the market started drifting the wrong way.
Ponzi Scheme:In a Ponzi scheme, a con artist offers investments that promise very high returns with little or no risk to their victims. The returns are said to originate from a business or a secret idea run by the con artist. In reality, the business does not exist or the idea does not work. The con artist pays the high returns promised to his earlier investors by using the money obtained from later investors. Instead of engaging in a legitimate business activity, the con artist attempts to attract new investors to make the payments that were promised to earlier investors. The operator of the scheme also diverts his clients' funds for his personal use.
With little or no legitimate earnings, Ponzi schemes require a constant flow of new money to survive. When it becomes hard to recruit new investors, or when large numbers of existing investors cash out, these schemes collapse. As a result, most investors end up losing all or much of the money they invested. In some cases, the operator of the scheme may simply disappear with the money.
Quote: @minny65 said:
@ medaille said:
I think the story behind the crypto market is mostly that the
huge financial players saw an opportunity to make some money in a new
unregulated environment and pushed crypto into a huge bubble then got out when
the rest of the market started drifting the wrong way.
Ponzi Scheme:In a Ponzi scheme, a con artist offers investments that promise very high returns with little or no risk to their victims. The returns are said to originate from a business or a secret idea run by the con artist. In reality, the business does not exist or the idea does not work. The con artist pays the high returns promised to his earlier investors by using the money obtained from later investors. Instead of engaging in a legitimate business activity, the con artist attempts to attract new investors to make the payments that were promised to earlier investors. The operator of the scheme also diverts his clients' funds for his personal use.
With little or no legitimate earnings, Ponzi schemes require a constant flow of new money to survive. When it becomes hard to recruit new investors, or when large numbers of existing investors cash out, these schemes collapse. As a result, most investors end up losing all or much of the money they invested. In some cases, the operator of the scheme may simply disappear with the money.
Do you have any evidence of a specific crypto being a Ponzi
scheme. I think you’re just confusing a
Ponzi scheme with just a bubble.
A Ponzi scheme the con artist literally takes the new money
to pay the previous investors. I think
in the case of crypto, it’s more of a bubble, where investors want to jump in
based on rising prices and drive up the value even higher, and then they try to
get out before the bubble collapses.
Quote: @medaille said:
@ minny65 said:
@ medaille said:
I think the story behind the crypto market is mostly that the
huge financial players saw an opportunity to make some money in a new
unregulated environment and pushed crypto into a huge bubble then got out when
the rest of the market started drifting the wrong way.
Ponzi Scheme:In a Ponzi scheme, a con artist offers investments that promise very high returns with little or no risk to their victims. The returns are said to originate from a business or a secret idea run by the con artist. In reality, the business does not exist or the idea does not work. The con artist pays the high returns promised to his earlier investors by using the money obtained from later investors. Instead of engaging in a legitimate business activity, the con artist attempts to attract new investors to make the payments that were promised to earlier investors. The operator of the scheme also diverts his clients' funds for his personal use.
With little or no legitimate earnings, Ponzi schemes require a constant flow of new money to survive. When it becomes hard to recruit new investors, or when large numbers of existing investors cash out, these schemes collapse. As a result, most investors end up losing all or much of the money they invested. In some cases, the operator of the scheme may simply disappear with the money.
Do you have any evidence of a specific crypto being a Ponzi
scheme. I think you’re just confusing a
Ponzi scheme with just a bubble.
A Ponzi scheme the con artist literally takes the new money
to pay the previous investors. I think
in the case of crypto, it’s more of a bubble, where investors want to jump in
based on rising prices and drive up the value even higher, and then they try to
get out before the bubble collapses.
The evidence is the small player losing all value/money while the big boys bail out or should I say cash out.
Follow the money like the 2019 Canadian crypto ponzi scheme I referenced above.
I suspect that the likely hood of consolidated wealth from crypto is much more likely than spreading out wealth
There were a lot of crypto believers and a lot of marketing acting like crypto was a hedge against the dollar, against wall street, against inflation, on and on but that’s proving not to be the case— at least currently. It’s behaving like a tech stock. I assume it will rebound along with those as well.
I don’t own any crypto, mainly because I don’t want to be tempted to check market prices on weekends or in the middle of the night.
Quote: @medaille said:
@ StickyBun said:
@ AGRforever said:
@ medaille said:
Just for reference here’s the amount of market capitalization
lost for various companies since the beginning of the year.
Apple: 641 Billion
Microsoft: 520 Billion
Alphabet: 404 Billion
Amazon: 571 Billion
Tesla: 519 Billion
The top 5 companies lost 2.655 Trillion in market capitalization
since the beginning of the year.
Correct, except those companies actually have value…assets that could be liquidated.
Exactly.
I do feel that some of the larger cryptocurrency providers will manage to survive....I don't feel its dead by any stretch. But this was always going to happen, the crypto winter.
I think the story behind the crypto market is mostly that the
huge financial players saw an opportunity to make some money in a new
unregulated environment and pushed crypto into a huge bubble then got out when
the rest of the market started drifting the wrong way.
I think with crypto being as hard to understand as it is, it’s
going to take some time for people to begin to differentiate which ones are
based on solid reasoning and which ones need to fail. I imagine there’s going to be a steady stream
of bad ideas failing and then the solid ones will start to rebuild value once
the rest of the market starts to trend back upwards again.
Theres not a solid one on the market yet. There wont be one until .gov and the banks decide there is one.
Right now crypto isnt even a commodity let alone a currency.
Troubled cryptocurrency lender Celsius Network has filed for Chapter 11 bankruptcy protection, a month after it froze more than a million customer accounts. Before halting withdrawals, the New Jersey-based firm had accumulated more than $20 billion in assets by offering depositors interest rates as high as 18%. Celsius is the latest casualty of a crypto crash that has wiped out $2 trillion in value. Crypto broker Voyager Digital filed for bankruptcy last week and major crypto hedge fund Three Arrows Capital sank into liquidation late last month.
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