Survivalist Forum banner
1 - 20 of 21 Posts

·
Registered
Joined
·
3,396 Posts
Discussion Starter · #1 ·
Core Scientific, the largest publicly traded crypto miner, reported that it lost lost $1.7 billion in the first nine months of the year, on $519 million in revenues.

“The Company anticipates that existing cash resources will be depleted by the end of 2022 or sooner,” it said. And that would be the end.

 

·
Premium Member
Joined
·
1,679 Posts
I makes you wonder how many more of these companies will fail....

I wanted to participate in all the fun but it seemed like a pyramid scheme to me and I never quite understood it so we stuck with what we knew.

In other news our government (that is known for honesty and transparency) will be bringing us its own form of digital currency to protect us from schemes like this, if you can't trust our government who can you trust?
 

·
Registered
Joined
·
2,817 Posts
I makes you wonder how many more of these companies will fail....

I wanted to participate in all the fun but it seemed like a pyramid scheme to me and I never quite understood it so we stuck with what we knew.

In other news our government (that is known for honesty and transparency) will be bringing us its own form of digital currency to protect us from schemes like this, if you can't trust our government who can you trust?
you KNOW that this is the government's' chance to swoop in with the lie that OUR crypto is controlled and a better choice FOR NOT ONLY ALL AMERICANS, BUT THE WORLD
 

·
Barrio Bajo Señor
Joined
·
4,757 Posts
From my point of view It’s worth the risk for quick riches, if everything comes crashing down then I have a tax deduction, there’s really nothing to worry about unless your throwing everything you got at it but dabbling with 1% of my wealth I’m not really gonna get hurt and the rewards are the fastest I’ve ever had, it’s a real rush when it starts moving and I like free stuff




Rectangle Material property Font Electric blue Computer data storage


Wheel Car Tire Land vehicle Vehicle
 

·
The Black Death
Joined
·
3,142 Posts
I just wish I'd listened to my wife back in 2009 when Bitcoin was $6.00... I'd be able to hire staff to blog for me. While I took my mega yacht to Fiji for the summer... ;) :D
If you were smart enough to sell near the top of these scams, you definitely would be set for a generation or three. But how do you know when to sell at the top? That is the tough part.
 

·
Registered
Joined
·
891 Posts
If you were smart enough to sell near the top of these scams, you definitely would be set for a generation or three. But how do you know when to sell at the top? That is the tough part.
Yep!!!
If I bought at $6.00, I know I would have sold at $12.00, and would have been on pins and needles when it ran up from $9.00 to $12.00.

In other news:
Heard there was a cave-in @ the Bitcoin mine and 653,241 investors are trapped.
 

·
Registered
Joined
·
2,673 Posts
I never could understand it so never invested a penny in it. It never passed my sniff test.
seems like it is at best a scam on speculation created by buzz .. but, if you're not the one who is in on the scam and know how it works, you're the other party in the deal. never heard anyone even give a remotely coherent explanation of the point or logic of why anyone should invest in whatever it is, so - just always thought it was a good way to throw money away, or well - give it to some millenial douch, to use to buy coke and hookers for him and his buddies. pass.
 

·
The Black Death
Joined
·
3,142 Posts
seems like it is at best a scam on speculation created by buzz .. but, if you're not the one who is in on the scam and know how it works, you're the other party in the deal. never heard anyone even give a remotely coherent explanation of the point or logic of why anyone should invest in whatever it is, so - just always thought it was a good way to throw money away, or well - give it to some millenial douch, to use to buy coke and hookers for him and his buddies. pass.
As far as "coke" or anything else off of the street, you would be absolutely gambling with your life now. Most of it is adulterated with ISO or Fentanyl, which could kill you in minutes.

It's not the 60's and 70's anymore and even then it was somewhat dangerous.
 

·
Registered
Joined
·
1,103 Posts
you KNOW that this is the government's' chance to swoop in with the lie that OUR crypto is controlled and a better choice FOR NOT ONLY ALL AMERICANS, BUT THE WORLD
I do believe that is EXACTLY how it will play out eventually.
as plain as the nose on your face.
 

·
Registered
Joined
·
37 Posts
I also thought of it as basically a pyramid scheme, where the value was being increased by the enthusiasm of existing investors, which caused more and more to invest. Once the price rose, it encouraged more, and so on until there stopped being enough new investors. Even at that, I figured you could make a nice profit if you knew where to get out of it, but I didn't have spare money to play with. That being said, one of my coworkers bought into Bitcoin under $1,000 and, at one point, could have paid off his house if he sold. I certainly never guessed how high it was going to go.
 

·
Premium Member
Joined
·
1,679 Posts
I also thought of it as basically a pyramid scheme, where the value was being increased by the enthusiasm of existing investors, which caused more and more to invest. Once the price rose, it encouraged more, and so on until there stopped being enough new investors. Even at that, I figured you could make a nice profit if you knew where to get out of it, but I didn't have spare money to play with. That being said, one of my coworkers bought into Bitcoin under $1,000 and, at one point, could have paid off his house if he sold. I certainly never guessed how high it was going to go.
That's the thing if you bought in at $1000 or $10,000 you could be happy that bitcoin is now at $16k but I'd be kicking myself for not selling when it was at $67k.
 

·
Registered
Joined
·
3,972 Posts
I just wish I'd listened to my wife back in 2009 when Bitcoin was $6.00... I'd be able to hire staff to blog for me. While I took my mega yacht to Fiji for the summer... ;) :D
Like many things in life, you have to be brave enough to take a chance. And then smart enough to know when to call it quits. Kinda like Tony Soprano with stolen blu ray players and "waste management" companies.

I was too scared and my financial advisor totally against it. He is authorized to buy/sell for me using the assets in my portfolio, but said "if you want bitcoin, you'll have to pursue that on your own.....":
 
1 - 20 of 21 Posts
Top