Wow, what a sad end for crypto...it's done

Correcaminos

Correcaminos

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Yes, I know that this year will still move probably trillions of dollars in this crypto industry, but the core idea is already dead.

This shit is completely hijacked by Elon Musk and Donald Trump, they successfully destroyed real utility and descentralized projects, if they tweet something, people will follow like sheep. Buy what they ask for, sell if they ask for. Shameful. Pityful. The original idea is dead, welcome to the new financial system where a group of whales, market makers, influencers and scammers in general rule the world, what a beautiful world without the evil regulation, right?

The financial system sucks.png
 
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From my understanding, the core idea of cryptocurrency as a currency is still subject to what the whales want.

It's a matter of money, to start manipulating the direction in which bitcoin is progressing all you need to do is control 51% of hashpower, a government like China could possibly do this, however they kinda killed the industry in 2021. Even now most cryptos are held not by the majority but a few rich whales...

The only way the idea of cryptocurrency works if people stop speculating with it and start using it as its name describes it: as a currency.

I do not know of a single coin that has all the following:
- Cheap transfer fees
- Decentralized
- Fast network, can scale to compete with Visa/MC
- Coin that supports projects on to build financial instruments.

I have not seen such a coin. Perhaps it already exists, im just ignorant. But I doubt it.
 
Its pretty bad how some people are being introduced to the market by people they view as figures of authority. They are coming in uneducated and that will ruin the image of crypto for them once they get rug pulled
 
XenProxy said:
Its pretty bad how some people are being introduced to the market by people they view as figures of authority. They are coming in uneducated and that will ruin the image of crypto for them once they get rug pulled
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That's my major concern about it. Crypto is going to be popularly known as an easy way to get scammed if things continue like that
 
Deleted member 1603965 said:
You won't get anything by complaining about it. Just saying.
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Most people are losing money, I won't lose anything by complaining about it, just saying.
nakamura said:
Everyone just wants to make as much money as quick as possible, its not that deep. Its gold rush and fomo.
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This had the possibility of literally changing the humanity and replacing tradicional money and revolutionize the financial system, but it's literally becoming a casino 2.0

Everyone just wants to make as much money as possible...and almost nobody is making money, exactly like a casino, we see some success cases while vast majority are leaving without anything. With this reputation, it will be hard to see crypto becoming REALLY mainstream.

Stifmeister said:
From my understanding, the core idea of cryptocurrency as a currency is still subject to what the whales want.

It's a matter of money, to start manipulating the direction in which bitcoin is progressing all you need to do is control 51% of hashpower, a government like China could possibly do this, however they kinda killed the industry in 2021. Even now most cryptos are held not by the majority but a few rich whales...

The only way the idea of cryptocurrency works if people stop speculating with it and start using it as its name describes it: as a currency.

I do not know of a single coin that has all the following:
- Cheap transfer fees
- Decentralized
- Fast network, can scale to compete with Visa/MC
- Coin that supports projects on to build financial instruments.

I have not seen such a coin. Perhaps it already exists, im just ignorant. But I doubt it.
Click to expand...
Yes, it's completely manipulated. If they want, TRUMP coin will raise, if they don't want, it won't raise, simple as that.

XenProxy said:
Its pretty bad how some people are being introduced to the market by people they view as figures of authority. They are coming in uneducated and that will ruin the image of crypto for them once they get rug pulled
Click to expand...
What could have become a new financial stuff to decentralize and transform the monetary system is now becoming a well-know fraud and scam, feel sorry for those who worked last decade to build something with real utility
 
nakamura said:
Everyone just wants to make as much money as quick as possible, its not that deep. Its gold rush and fomo.
Click to expand...

It is in fact very deep.

Bitcoin itself failed at every one of Nakamoto’s aspirations . The price is ridiculously volatile and has had multiple bubbles; the unregulated exchanges (with no central bank backing) front-run their customers, paint the tape to manipulate the price, and are hacked or just steal their users’ funds; and transaction fees and the unreliability of transactions make micropayments completely unfeasible. Because all of this is based in crank ideas that don’t work.

And then there is the hijacking of BTC by uberwhales - Roger Ver, an early investor in and promotor of Bitcoin, is now facing life in prison for revealing how the US government worked secretly to subvert cryptocurrency and prevent economic freedom.

Furthermore, there is evidence the US government may be planning to use taxpayers’ money to buy Bitcoin and hold it on government balance sheets. Why? To benefit Bitcoin billionaires. This move would allow the billionaires to exit their Bitcoin holdings at a high price and use the funds to acquire real assets such as land and minerals. It should be taken in the context of discussions about land and minerals owned by the US government.

The whole thing is fucked. Web3 was a fraud all along when they claimed it to be revolutionary. Blockchain overrated. And Crypto all but saturated to death with some pathetic new chucklefuck coin launched every day. It will all just implode one day, especially now that Governments and Big corporations own the bulk of any coin that was ever worth big money in the first place.

I will tell you what will likely rise from the ashes here... CBDCs
 
Ashbeck42 said:
And then there is the hijacking of BTC by uberwhales - Roger Ver, an early investor in and promotor of Bitcoin, is now facing life in prison for revealing how the US government worked secretly to subvert cryptocurrency and prevent economic freedom.
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Just Googled this guy. He seems to have written a book. Is it worth reading in your opinion?
 
It's a good innovation not in the past age thinking again, crypto world is growing gradual to balance the spending equalities.
Memecoinals are iconic coin of ages
 
it sucks to see those memecoins receiving all the attention while AI, RWA and other narratives with real utility are still being ignored for now
 
Memecoins have existed for ages, crypto scams have always been abundant, it doesn't mean anything.
Those who actually have an interest in crypto either as a store of value or because they believe in the idea, won't stop holding because some old guys want to scam others. And I'm sure these people aren't investing long-term in $Melania or $fart or something.

Most serious people who have faith in crypto buy and don't touch it for a long time or dca in without caring about current news or happenings, since it's a long-term investment. It will take more than today's news doing scams to destroy the future of crypto.
 
Correcaminos said:
Yes, I know that this year will still move probably trillions of dollars in this crypto industry, but the core idea is already dead.

This shit is completely hijacked by Elon Musk and Donald Trump, they successfully destroyed real utility and descentralized projects, if they tweet something, people will follow like sheep. Buy what they ask for, sell if they ask for. Shameful. Pityful. The original idea is dead, welcome to the new financial system where a group of whales, market makers, influencers and scammers in general rule the world, what a beautiful world without the evil regulation, right?

View attachment 413960
Click to expand...
Those two can't destroy crypto by the way. Those who want to fall victim to pump and dump schemes and rugpulls would fall victim.
 
All this propaganda about crypto (basically shitcoins) and they can't even touch Bitcoin.

Here is why - RDT_20250120_2105544010928795940859647.jpg
 
Don’t worry, BTC.d is still at the top, holding at 60%. No significant movements have occurred yet.
 
Ashbeck42 said:
It is in fact very deep.

Bitcoin itself failed at every one of Nakamoto’s aspirations . The price is ridiculously volatile and has had multiple bubbles; the unregulated exchanges (with no central bank backing) front-run their customers, paint the tape to manipulate the price, and are hacked or just steal their users’ funds; and transaction fees and the unreliability of transactions make micropayments completely unfeasible. Because all of this is based in crank ideas that don’t work.

And then there is the hijacking of BTC by uberwhales - Roger Ver, an early investor in and promotor of Bitcoin, is now facing life in prison for revealing how the US government worked secretly to subvert cryptocurrency and prevent economic freedom.

Furthermore, there is evidence the US government may be planning to use taxpayers’ money to buy Bitcoin and hold it on government balance sheets. Why? To benefit Bitcoin billionaires. This move would allow the billionaires to exit their Bitcoin holdings at a high price and use the funds to acquire real assets such as land and minerals. It should be taken in the context of discussions about land and minerals owned by the US government.

The whole thing is fucked. Web3 was a fraud all along when they claimed it to be revolutionary. Blockchain overrated. And Crypto all but saturated to death with some pathetic new chucklefuck coin launched every day. It will all just implode one day, especially now that Governments and Big corporations own the bulk of any coin that was ever worth big money in the first place.

I will tell you what will likely rise from the ashes here... CBDCs
Click to expand...
It is entirely f*cked because the entire financial system has failed on every level. Now it is PVP, wild west. You have to see it on a larger scale. The traditional way of making money and getting wealthy has changed. Now everyone can become rich. I made around $30k in less than 48 hours because of the Trump coin. If I would tell this to my younger self or any of my family members, they would look at me like I am crazy. Imagine a guy, waking up every morning at 5am to go to work for 8-9 hours to work a job he doesn' like, to get a shitty low salary. Nobody wants this kind of life anymore.

Don't get me wrong, you are 100% right and I totally agree with you. Since this NFT hype where people started selling jpegs with ridiculous reasons the entire thing became a joke. The people who sold NFTs simply moved on to crypto and now they are doing memecoins. Scam here, scam there.

But I totally believe this is just a small chunk of opportunistic people. There are still LEGIT crypto projects out there which are working in the background, far away from the noise and opportunist. Just don't participate in it.
 
The end of the party would mean a BTC.d index at 40%, and this peak would mark the final stage. Close the charts and take a walk.
 
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