Reasons why you should NOT trade cryptocurrencies

Brutal Stock Market Crash Exposes an Even Uglier Truth About Bitcoin (March 9, 2020)
https://www.ccn.com/brutal-stock-market-crash-exposes-an-even-uglier-truth-about-bitcoin/

Bitcoin Drops 50% in Epic Two-Day Tumble (March 13, 2020)
https://www.bloomberg.com/news/articles/2020-03-13/bitcoin-not-such-a-safe-haven-now-amid-epic-two-day-tumble

11:00 'Bitcoin is a giant pyramid scheme' (Peter Schiff) (MAR 13, 2020)
https://dprogram.net/peter-schiff/less-supplies-and-more-money-paving-way-for-inflation/

It’s still not clear what caused such a failure of Bitcoin.

Raymond7456 posted:
It’s still not clear what caused such a failure of Bitcoin.

See earlier posts this thread, especially:

BluePanther posted:
Bitcoin pumpers forced to admit it’s not digital gold (FEB 26, 2020)
www.dprogram.net/peter-schiff/bitcoin-pumpers-forced-to-admit-its-not-digital-gold

Thorgahuginn posted:
Hmm, there are bright fans of these assets among my acquaintances, particularly Bitcoin, but there are also those who never trade this asset. It seems to me that a lot depends on personal preferences and experience, and only you should decide whether it was worth it or not;

I agree with your thoughts, Bitcoin is a specific currency and not everyone likes to trade it. For an amateur. But I personally signs with many people who have made good money on bitcoin.

Sacha36454 posted:

Thorgahuginn posted:
Hmm, there are bright fans of these assets among my acquaintances, particularly Bitcoin, but there are also those who never trade this asset. It seems to me that a lot depends on personal preferences and experience, and only you should decide whether it was worth it or not;

I agree with your thoughts, Bitcoin is a specific currency and not everyone likes to trade it. For an amateur. But I personally signs with many people who have made good money on bitcoin.

Yes and yes again. This is an artificially deboned market. I don’t know to whom only this can be beneficial.

Thorgahuginn posted:
Hmm, there are bright fans of these assets among my acquaintances, particularly Bitcoin, but there are also those who never trade this asset. It seems to me that a lot depends on personal preferences and experience, and only you should decide whether it was worth it or not;

Sacha36454 posted:
I agree with your thoughts, Bitcoin is a specific currency and not everyone likes to trade it. For an amateur. But I personally signs with many people who have made good money on bitcoin.

Ethan63446372 posted:

Yes and yes again. This is an artificially deboned market. I don’t know to whom only this can be beneficial.
Thank you for contributing, but please include references (hyperlinks to articles, information) and ensure you provide material related to the subject of this thread: Reasons why you should NOT trade cryptocurrency.

There are many other places to support cryptocurrency, but the risks are not always so easy to find. That is the purpose of this thread.

Because it is unstable currency. Because of high volatility. It is rather an unjustified risk to trade on crypto...

Very big volatility is a big main reason for everything else out there completely and entirely. It's not stable and not backed by something thus why totally unpredictable in any possible case absolutely.

Crypto Exchange volumes are fake?
(listen from 16:00)

For me the main reason not to trade crypto is that the bubble has burst and since then there has basically been no interest in pushing price back up to the 20k levels. Previously BTC has huge upside potential which made up for the huge risk that it would go to zero. The upside potential no longer exists but there is still downside risk.

23:00 'Bitcoin was launched in 2009 by the same people who destroyed the banking with their greed.'
Listen from 23:00 onwards...

Also listen from 54:00...

Also listen from 1:00:30.

Document for reading: https://libra.org/en-US/white-paper/#introducing-libra

(related to previous posts)

Interesting thoughts, but I think that with Bitcoin everything is not so clear

BluePanther posted:
Also listen from 54:00...



Also listen from 3:04:50

3:06:00

'All cryptocurrency were created by the CIA, NSA (which is GCHQ) and IBM. It has tracking and data-mining qualities as laid out earlier. Look at the word: they call it 'crypto', meaning 'dead currency'. Why? Because it's for 'dead people'.

Block, or 'all capital letters', means you are dead, like all names on a head stone. Because they declare you dead.

And they gave themselves the right to control your estate - of which everyone has millions in it, and keep it to themselves, and this was done by the control of your birth certificates.

It is being launched now as a test then, to see how far they will get with it. They don't have the funding to do this, and will rely upon people to hand over cash in exchange for their tokens, which they store for you in your digital wallet.

But it's not yours. Because they control it as they stated.'

3:08:50

Perhaps this reason, not to trade, can be called ignorance and misunderstanding of this process.