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Crypto Currency Massive sell off, page-111

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grindstone cowboy

20,793 Posts.

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20/07/21

16:32

Post #: 54636108
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Originally posted by Tarvold: ↑

Seems like the new financial geniuses that have drunk the BTC coolade have come up with the latest marketing spin to try & sucker in more fools.

First BTC was a 'currency' to rival the USD & take over the world as a universal currency for all, free from central banks.
That spin falls to pieces when BTC moves 5-10% in a 24 hour period on a regular basis.

Next it was " no it's not a currency it's a wealth preserver ", until it fell 50%+ in a matter if a month. Not much wealth preservation there.

Now the latest con is that it's an income generator that will beat the return from any bank by lending out your BTC to 'traders'!
By 'traders' they mean shorters because the only thing a trader can do with BTC they borrow is sell them into the market on the basis of buying them back cheaper in the future.
But what these geniuses don't realise that when the level of shorters increases for a volatile 'asset' the price tanks.
Anyone who knows anything about SME shares & the likes of Regal will know what I'm talking about.

The geniuses of the new financial generation have just brought the end of BTC that much closer.

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not much of a currency buy a coffee and get a $30 transaction fee.
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