Folks who pay attention already know what many here already understand regarding the many flaws of any Crypto currency, including the backdoors. Read the attached article from the respectable Nestmann Group.
“The year 2022 hasn’t been kind to cryptocurrency investors. Indeed, it’s been a litany of disasters.”
I don’t think crypto is dead or dying but is still just a little crying baby.
The advisers I work with are saying the next few years things could stabilize some, I still see this as really high-risk gambling to invest any significant amount of money, but there are so many different kinds of coins it seems worth investing at least tiny amounts in some to see how these act over the next few decades.
Most financial schemes seem to do very well at first, and then fizzle. It was onl a few short months ago BC was trading so much higher. Probably someone’s posted a flow chart of its historic value.
Here’s one - hope it uploaded OK. If not use your imagination and visualize a ‘meteroic’ rise over the past from 20 to 60. There is a double ‘peak’ in price just prior to its rapid decent, which any Trader worth their ‘salt’ will inform us it was a warning to ‘get-out-as-soon-as-possible’.
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Yeah, I’ve heard this can have a domino effect as well if everyone panics to sell all of some particular asset at the same time that will cause the value to tank even more catastrophically.
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It’s what its always been.
A Pump & Dump Op.
There is no security on the internet.
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Good story on the FTX fraud. Then, on the CPI inflation chart: for folks with some extra money to ‘play-around-with’ a person could adopt the method used by the big money folks, which are known as the Scale Traders. They scoop-up all sorts of commodities, but only when the prices dip below certain levels.
For my family we are buying and storing food. Mainly bread wheat flour, jasmine rice imported from Thailand, cooking oil, etc while prices are still reasonable.
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That’s wise, being out of food is one of the worst things I’m down to eating cat food for right now until I get paid next week. Local grocery store is way overpriced, and the food bank only issues 70 “points” to people for food per month, which for me is just barely enough food for a week. After the 70 points are out they can issue more “emergency” points, but they are judgmental at anyone who tells them they are in a state of emergency three out of four weeks a month. I don’t qualify for food stamps anymore now that I have a slave-labor wage job.
Anyway things are way better for me right now then they were for the first couple years of the pandemic, all of my work prospects fell through and I didn’t qualify for unemployment, honestly seemed like I would have been much better off in a prison cell so I could at least get meals and have people to talk to but didn’t really want to become a criminal just for that.
Sorry if that’s too much information, hope you and your family don’t have to go hungry ever.
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No problem, and thanks for the personal info. We have been planning for several years. We understand many folks are, or will be in a situation such as yours. Are you able, or willing to relocate?
Potentially yes, hoping to find some leads for work in B.C./Alaska.
Shucks, always wanted to do that, but too late in life for me now. We live on the slopes of the Great Smoky Mountains. We have all 4 seasons, and good people all around us.
Smokey Mountain Rain is one of my favorite songs!
This band is having a concert in Portland (Oregon) this next March plan to go to that.
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Yeah, typical East TN accents. Spent an enjoyable trip to Grants Pass, and the Rouge River area, 2006. Wonderful area, and some good people.
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Shout out to member who volunteered to ship me some protein bars, thanks! Don’t know if you want to be anonymous about that so I won’t post your name.
I used to think a lot of the people out here on the west coast are “good people,” have been really taken aback by how people are acting these last few years. When I say to my family I don’t have enough resources to even get by, they literally reply by saying “Well you could say the same thing even if you had twice as many resources,” which is absurd and insane and not something I have ever or would ever say if I could be like them and say something pretentious like “out of principle I cannot accept any food from a food bank,” because they think that is only for lesser people than themselves.
Orcas Island has a much better food bank, they don’t use a point system and people can get as much food as they need there twice a week. May want to move there or to Lopez, but that is much more remote and cut off from the rest of the world the ferries don’t run that often out there. Looking forward to when they resume international crossing to Vancouver Island canada, got to renew my passport and probably emigrating is the way to go while that is still possible to get out of this country before it sinks.
The psychosis is so heavy, I can’t even have a regular conversation with hardly anyone here, they are always too busy to talk for more than a few minutes about anything important.
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Tickets go on sale tomorrow morning for this new-age bluegrass in Portland!
My favorite cousin Emily lives in Portland, along with her husband who’s an ER doctor at OHSU.
Went to architecture school there at Portland State University for about a year as part of my undergrad degree from the UW.
Anyway this is getting way off topic of cryptocurrency, to get back to that my understanding is that some independent coins may in fact be much more stable than the u.s. dollar, quid, or euro in the years ahead. Inflation has been insane, did you know a day’s wages used to literally be a copper penny cut in half?
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