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Get your money off crypto.com immediately
- Victerius 4y agoCrypto.com's CRO ponzicoin is in freefall: https://i.imgur.com/sJZBv5n.jpeg https://i.imgur.com/sJZBv5n.jpeg
- gennarro 4y agohttps://twitter.com/MarioNawfal/status/1591853036208803840 https://twitter.com/MarioNawfal/status/1591853036208803840 Related: 400m from crypto.com was misplaced earlier this week.
- thundergolfer 4y agoCrypto.com was advertised incessantly during major Australian sporting games. Mainstream cryptocoin corporations have clearly targeted low-information consumers and it’s an indictment on our society that this advertising wasn’t regulated out of existence around 2018. So many Australians are going to lose savings they really need. Thank god at least for superannuation, the actual wealth building project they should be throwing their money into.
- justinclift 4y agoHopefully no super funds were dumb enough to get involved with this stuff.
- somerandomqaguy 4y agoEeeehhhhhhhhhh........ Ontario Teacher Pension lost about $95 million USD in the FTX fiasco and the Canadian Pension Fund lost roughly $99 million USD when Celsius got shut down. Granted the investment is small compared to their entire portfolio; the Ontario Teacher pension is $221 billion CAD in assets, and the CPP is $551 billion CAD in assets. So it's not a disaster, but still kind of annoying.
- throwaway5959 4y agoAustralians are going to lose far more of their wealth to housing than crypto. But yeah crypto is trash. Edit: lol immediately downvoted. Guess parent is in on the scam that is Australian housing.
- rognjen 4y agoYou can't downvote replies to your comments on HN.
- dividedcomet 4y agoYou can live in housing, you can’t live in Crypto.
- andrewmcwatters 4y agoI wonder how many of these scams need to happen for people to realize this tech isn't a good idea unless you're the one ripping people off. Do people need to see stronger negative associations than losing all of your money? Maybe Bitcoin ads should be placed right next to vape pens and cigarettes in convenience stores for people to get the idea, or maybe by casinos? Maybe Amway should come up with its own NFTs and start marketing to men, too?
- deleted 4y ago[deleted]
- goodSteveramos 4y ago> this tech isn't a good idea Bitcoin is politically neutral. Wall Street isnt.
- Stention314 4y agoBitcoin has anti censor mechanics. It's definitely not political neutral. And independent of if Bitcoin is or not: the 'how it's used' matters because the theory matters less.
- landemva 4y ago> Bitcoin has anti censor mechanics. While people like to claim there is some anti-censor magic, it's not really true when block space is full. There is nothing in the code to penalize miners for ignoring a particular transaction for weeks or forever.
- Stention314 4y agoI'm referencing the core idea of it being decentralized and "anonymous"
- landemva 4y agoA public ledger is not really anonymous, whether you put that in quotes or not. It can be censored, and this is a difficult game theory problem to solve. There are a few major mining pools which build the blocks, and some think that is not decentralized. Bitcoin was an amazing advancement and I hope it can grow into solving some of these apparent challenges.
- andirk 4y agoThis claim, while I agree, is so far based on nothing. Be careful making these statements.
- throwaheyy 4y agoBe careful of what? A viral “bank run” is the ultimate fitness test of these black-box centralized exchanges, and if an exchange has underlying issues it’s better that they be found out sooner rather than later.
- midislack 4y agoIt's not money any more, it's simply numbers on somebody else's computer. LOL
- throwaway5959 4y agoIf people are going to buy crypto they should just buy Bitcoin on the Cash App or Coinbase (ETH as well there). Everything else is likely going to zero.
- stbenjam 4y agoRegardless of where it should be immediately placed in your own wallet.
- curiousgal 4y ago> or Coinbase lol if anything, FTX has established that you should not put your coins anywhere. Which is a lesson that should have been learned almost a decade ago.
- throwaway5959 4y agoYou have to buy it somewhere. I guess you could mine your own Bitcoin.
- curiousgal 4y agoMy point is that once you buy it, you withdraw it immediately.
- quantumwannabe 4y agoMonero is the only cryptocurrency I’ve seen that tries to actually be a currency instead of an investment vehicle. Unfortunately, it’s still too volatile to keep any money in.
- ispo 4y agoBeautiful to observe this happening from a socio-economic complexity point of view.
- throwaway23597 4y agoI do wonder how this crypto implosion will impact inflation and the average consumer. Crypto continues to have a ginormous market cap of > 800B. But it's unclear how much of this is due to shady schemes and wash trading propping up the price. If crypto went down by 95%, what would happen to the economy? Would the ripple effects trigger another financial crisis? These are questions that it would be nice to not have to find out the answer to, but they may be answered soon anyway.
- jen20 4y agoWith a bit of timing, this will implode in time for Re:invent. Last year Crypto.com had purchased a display across the entire front of Resorts World, something I can’t imagine was cheap!
- fred_is_fred 4y agoI'm not sure that dude knows what confidentially means.
- soyiuz 4y agoSerious question: the burn off in crypto should theoretically help with fiat inflation, correct? The Fed prints, and crypto evaporates.