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Forum » Nerd breaks down why its over for coincels
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Thread: Nerd breaks down why its over for coincels

post 1639216933 05-22-2021, 10:14 PM
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#31
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Originally Posted By elterrible987⏩
lol all these opinions without watching the video

he breaks down why the other coins are also fuked
All of the information you've posted is anti-crypto. Have you looked for information that contests your theory? Failing to do so = confirmation bias.
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post 1639217053 05-22-2021, 10:17 PM
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#32
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Originally Posted By Virus4762⏩
Story? How do you know about this?
He made some about how his wife divorced him and took him to the cleaners (and took his son back to Asia). That's how he originally got somewhat youtube famous.
post 1639217693 05-22-2021, 10:32 PM
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#33
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i don't understand any of this geek chit, should i buy tether or what
post 1639217703 05-22-2021, 10:32 PM
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#34
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Originally Posted By Polaris⏩
He made some about how his wife divorced him and took him to the cleaners (and took his son back to Asia). That's how he originally got somewhat youtube famous.
Video still up?
post 1639217783 05-22-2021, 10:34 PM
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#35
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Originally Posted By Virus4762⏩
What? Who gets this newly created Tether that's not backed by anything and how do they get it?

Or is it just the creators of Tether creating new Tether not backed by anything then buying Bitcoin with it? Why would the people selling Bitcoin accept Tether as payment?
I believe the sketchy exchanges that don't have USD holdings allow you to trade for Tether instead. Some traders hold Tether instead of Bitcoin because Bitcoin is such a stable store of value that it can correct 35% overnight
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post 1639218043 05-22-2021, 10:41 PM
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#36
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Originally Posted By DickHancock⏩
i don't understand any of this geek chit, should i buy tether or what
You don't invest in stablecoins, brah lol
post 1639218063 05-22-2021, 10:41 PM
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#37
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Originally Posted By SaviorSelfJT⏩
Yep

Coinies never have a good response to this. They just attack you with stuff like "clearly you havent researched it"

Its a pretty neat technological advancement, in that it creates a fair and decentralized vehicle for speculative gambling. I'll say that about it.
Lots of alts like VET coming out with real world applications. Logistics, tracking transportation, finance etc.
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post 1639218163 05-22-2021, 10:43 PM
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#38
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This is really old news, though.

But it may be picking up traction at just the right time
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post 1639218273 05-22-2021, 10:45 PM
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#39
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Originally Posted By ChrisLS8⏩
Lots of alts like VET coming out with real world applications. Logistics, tracking transportation, finance etc.
imagine any large company or financial institution not just investing in their own blockchain development and using something called "VET" LMAO
post 1639218453 05-22-2021, 10:49 PM
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Originally Posted By moosik85⏩
How is that any different from the fed creating money out of thin air and handing it to their corporate buddies?

Everything under fiat currency is a Ponzi scheme, it relies on infinite growth to keep kicking the debt can down the road
Because the value of the dollar is backed by the US government, its massive military force, the success of its economy, and acceptance by every other government in the world.

Not only do you not understand currency you also clearly don't understand Ponzi schemes. A ponzi scheme is defined by selling a fraudulent investment product under the expectations of large returns for new investors while the only way to increase the value of the fraudulent product is convincing people that will make more real money by giving you more real money than you spent.
i
In the past people went to great lengths to pull off ponzi schemes. It took a good bit of work falsifying documents to make your fake fund look real enough to scam investors out of their real money. So much for the theory of evolution as all it takes now is creating a few fake coins with a B on it or even a dog and people would hand over real money for a completely worthless character string absolutely anyone can replicate.
post 1639218463 05-22-2021, 10:50 PM
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#41
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Originally Posted By BulkingIsHard⏩
I believe the sketchy exchanges that don't have USD holdings allow you to trade for Tether instead. Some traders hold Tether instead of Bitcoin because Bitcoin is such a stable store of value that it can correct 35% overnight
So it's not necessarily bad for Bitcoin itself?

I mean, the demand for Bitcoin is still there. Instead of buying Bitcoin directly with dollars, people are converting their USD to Tether first then buying Bitcoin. Obviously there'd be a major problem in the crypto space if everyone tried to convert their Tether back to USD all at the same time but it's not like this is "false demand" or a falsely inflated Bitcoin market.

Right?
post 1639218963 05-22-2021, 11:01 PM
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Originally Posted By Virus4762⏩
So it's not necessarily bad for Bitcoin itself?

I mean, the demand for Bitcoin is still there. Instead of buying Bitcoin directly with dollars, people are converting their USD to Tether first then buying Bitcoin. Obviously there'd be a major problem in the crypto space if everyone tried to convert their Tether back to USD all at the same time but it's not like this is "false demand" or a falsely inflated Bitcoin market.

Right?
I mean it's necessary to an extent for liquidity. So it makes sense that tether grows as the market grows. Don't really know much beyond that though lol, chits hella complicated.
Your schtick sucks and it screams insecurity.
post 1639220533 05-22-2021, 11:48 PM
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#43
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Surely, this is the end of crypto! Will bump this in a couple of weeks
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post 1639221053 05-23-2021, 12:04 AM
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#44
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Originally Posted By moosik85⏩
How is that any different from the fed creating money out of thin air and handing it to their corporate buddies?

Everything under fiat currency is a Ponzi scheme, it relies on infinite growth to keep kicking the debt can down the road
The analogy works but feds only trickle new money which does dilute the existing supply reducing its worth. He says Tether are going nuts printing new money which is supposedly USD backed but there's only 3 % of the issued crypto actually covered.

Tether would work if the issuer could be trusted and they actually bought and kept 1 USD for each crypto coin they issued, then when 100 % of the holders ask to exchange their crypto the issuer hands the USD over and takes their crypto back.
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post 1639221243 05-23-2021, 12:10 AM
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I like how ITT everyone is saying they know better than the dude in the video.

lol what the fuk do you know that he doesn't? You got some magic 8 ball you shaking around? Some tea leaves?




Also, who gives 2 chits about his divorce or kid status? Does it make him less of an expert?
If a lawyer went through a divorce and lost his kid when his wife went to another country does it make him less of a lawyer?

Jesus you people are seriously stupid af if you believe even 5% of what you're saying ITT
post 1639221813 05-23-2021, 12:34 AM
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#46
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These are all recent YouTube vid titles from this guy...

My Ex-Wife Thinks I'm Too Cheap (as a millionaire)
https://www.youtube.com/watch?v=-AKmGU5X-aM

i ruined my ex-wife's life (as a millionaire)
https://www.youtube.com/watch?v=GVHighLm3os

What I learned from my Divorce. (as a millionaire)
https://www.youtube.com/watch?v=066sF7iffKE

I am a failure... (as a millionaire)
https://www.youtube.com/watch?v=9OAP0c9FePw
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post 1639221933 05-23-2021, 12:40 AM
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#47
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Originally Posted By JPF82⏩
I like how ITT everyone is saying they know better than the dude in the video.

lol what the fuk do you know that he doesn't? You got some magic 8 ball you shaking around? Some tea leaves?




Also, who gives 2 chits about his divorce or kid status? Does it make him less of an expert?
If a lawyer went through a divorce and lost his kid when his wife went to another country does it make him less of a lawyer?

Jesus you people are seriously stupid af if you believe even 5% of what you're saying ITT
At the end of the day, bitcoin doesn't care how that cuck feels.
Your schtick sucks and it screams insecurity.
post 1639221993 05-23-2021, 12:42 AM
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#48
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This guy is a *******. All I hear when he talks is "abutta buta buta butt." Soyboy loser stay poor.
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post 1639222383 05-23-2021, 12:58 AM
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#49
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It was always over for coincels
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post 1639222993 05-23-2021, 01:15 AM
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What's described in the video has been going on for at least 3 years though.

As long as there's no catalyst, it can continue for quite a while.
post 1639358063 05-24-2021, 08:26 PM
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Originally Posted By BraddlesMcGee⏩
Tether would work if the issuer could be trusted and they actually bought and kept 1 USD for each crypto coin they issued, then when 100 % of the holders ask to exchange their crypto the issuer hands the USD over and takes their crypto back.
Really? Please explain how tether makes any sense whatsoever. It is way more ridiculous than even any other fake coin in that at least other fake coins present the possibility of gains if you play the scam right. You're going to protect yourself from failure of the US dollar by exchanging the standard currency for all international trade for fake coins promising never to be worth more than a dollar and directly tied to the dollar? Even it it was 100% legitimate, it is probably the stupidest thing I have ever heard.

Let's say it was actually backed by US dollars 1 to 1 and the dollar falls to zero what would then be the value of those Tether coins? If nobody wants US dollars they sure as hell aren't going to want a Tether coin. Not to mention even if they did have a USD for ever fake coin, those fake coins can never be equal in value to those dollars for many reasons. That's exactly why they are trying to get you to give them your dollars for their fake coins.
post 1639360833 05-24-2021, 09:09 PM
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The most important point this guy makes that should be an absolutely kill signal to anyone that hasn't already realized crypto is a scam is how the vast majority of bitcoin is being purchased with other fake coins. An obvious sign the ponzi scheme has broke. They are creating more fraudulent investment products to produce more fraudulent transactions of their fraudulent product in desperate hope of not being left holding the worthless, fraudulent product. It's like the down syndrome version of the derivatives fraud in the late 2010s
post 1639361463 05-24-2021, 09:20 PM
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We missed the boat about 6 or so years ago for Bitcoin...

ANYONE who buys now is out of their skull... yes it could hit 100k by getting a hot hand in the dice game... but can just as easily be at 5k during this calendar year. cyrpto is non sense. Unless the ENTIRE world shifts away from the US dollar, which would take at least 2 decades.

Source - OP's Mom
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post 1639361983 05-24-2021, 09:29 PM
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the elites will make their money off of it and then destroy it because it competes with the central banks
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post 1639362883 05-24-2021, 09:49 PM
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#55
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Cryptocurrency can fail, and this guy can also be an idiot.

He makes me cringe. Basically he backs up anything he says with "I GOT GOOGLE STOCK OPTIONS WHEN I WORKED THERE".
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