https://www.youtube.com/watch?v=Mp2Vx7Qtt5I

A fairly long video - and contains a few minutes of advertising in one slot

Crypto Market in MELTDOWN?

--
mailto : news {at} admac {dot} myzen {dot} co {dot} uk

alan_m wrote:

> Crypto Market in MELTDOWN?

about time.

In message <jtn0jnF1g76U2@mid.individual.net>, Andy Burns
<usenet@andyburns.uk> writes
>alan_m wrote:
>
>> Crypto Market in MELTDOWN?
>
>about time.
At least you can use paper money for wiping jobs!
>

--
Tim Lamb

On Thu, 17 Nov 2022 15:25:18 +0000, Tim Lamb
<tim@marfordfarm.demon.co.uk> wrote:

>In message <jtn0jnF1g76U2@mid.individual.net>, Andy Burns
><usenet@andyburns.uk> writes
>>alan_m wrote:
>>
>>> Crypto Market in MELTDOWN?
>>
>>about time.
>At least you can use paper money for wiping jobs!
>>
And these days wash it clean and re-use it. The ultimate in
recycling...

--
Chris

Money not based on something of value will only be worth anything if its
perceived to be. Money after all, be it crypto or real is only a token of a
value. It used to be gold, now its more to do with products and trade.
Brian

--

--:
This newsgroup posting comes to you directly from...
The Sofa of Brian Gaff...
briang1@blueyonder.co.uk
Blind user, so no pictures please
Note this Signature is meaningless.!
"alan_m" <junk@admac.myzen.co.uk> wrote in message
news:jtmt7sFcckU2@mid.individual.net...
>
> https://www.youtube.com/watch?v=Mp2Vx7Qtt5I
>
> A fairly long video - and contains a few minutes of advertising in one
> slot
>
> Crypto Market in MELTDOWN?
>
> --
> mailto : news {at} admac {dot} myzen {dot} co {dot} uk

On 17 Nov 2022 at 14:02:36 GMT, alan_m <junk@admac.myzen.co.uk> wrote:

>
> https://www.youtube.com/watch?v=Mp2Vx7Qtt5I
>
> A fairly long video - and contains a few minutes of advertising in one slot
>
> Crypto Market in MELTDOWN?

Serves the fuckers right.

At FiL's house today as we're doing a house clearance there. Looking there at
an issue of Which, it had something of a description of Crypto-shit and how
so-called influencers would hype up a new one to increase its value, cash in,
and then have no more to say about it. Names of foopballers and so-called
celebs were mentioned in the same context. The whole thing's a scam and serves
no useful purpose.

--
"A committee is a cul-de-sac down which ideas are lured and then quietly strangled." - Sir Barnett Cocks (1907-1989)

On 17 Nov 2022 17:17:43 GMT, Tim Streater <timstreater@greenbee.net>
wrote:

>On 17 Nov 2022 at 14:02:36 GMT, alan_m <junk@admac.myzen.co.uk> wrote:
>
>>
>> https://www.youtube.com/watch?v=Mp2Vx7Qtt5I
>>
>> A fairly long video - and contains a few minutes of advertising in one slot
>>
>> Crypto Market in MELTDOWN?
>
>Serves the fuckers right.
>
>At FiL's house today as we're doing a house clearance there. Looking there at
>an issue of Which, it had something of a description of Crypto-shit and how
>so-called influencers would hype up a new one to increase its value, cash in,
>and then have no more to say about it. Names of foopballers and so-called
>celebs were mentioned in the same context. The whole thing's a scam and serves
>no useful purpose.

No one seemed to notice that these 'coins' carried no value forward
into the future. Their entire supposed value came from energy and time
expended in creating them. What use is that to a holder in the future?
At least with currency notes you have a stake in the underlying
economy of the country which issued them, despite claims they're based
solely on faith.

Cursitor Doom wrote:

> No one seemed to notice that these 'coins' carried no value forward
> into the future.

I liked this "poocoin" comment on /. some time ago

<https://news.slashdot.org/comments.pl?sid=2230966#comment_body_36410962>

On 17/11/2022 18:30, Cursitor Doom wrote:
> On 17 Nov 2022 17:17:43 GMT, Tim Streater <timstreater@greenbee.net>
> wrote:
>
>> On 17 Nov 2022 at 14:02:36 GMT, alan_m <junk@admac.myzen.co.uk> wrote:
>>
>>>
>>> https://www.youtube.com/watch?v=Mp2Vx7Qtt5I
>>>
>>> A fairly long video - and contains a few minutes of advertising in one slot
>>>
>>> Crypto Market in MELTDOWN?
>>
>> Serves the fuckers right.
>>
>> At FiL's house today as we're doing a house clearance there. Looking there at
>> an issue of Which, it had something of a description of Crypto-shit and how
>> so-called influencers would hype up a new one to increase its value, cash in,
>> and then have no more to say about it. Names of foopballers and so-called
>> celebs were mentioned in the same context. The whole thing's a scam and serves
>> no useful purpose.
>
> No one seemed to notice that these 'coins' carried no value forward
> into the future. Their entire supposed value came from energy and time
> expended in creating them. What use is that to a holder in the future?
> At least with currency notes you have a stake in the underlying
> economy of the country which issued them, despite claims they're based
> solely on faith.

The coins had no value in the past.

The main thing about the crypto company that's gone bust is that no real
effort or energy went into creating the coin (token). On day one they
created some valueless Micky Mouse currency, claimed it was worth
billions of dollars and then persuade the punters to part with real
money to invest in it. Investors probably thought it's was a good bet
because the value of the company went from zero to a self proclaimed
value of 32 billion dollars in a couple of years (and back down to zero
in under 10 months). It's the Emperors new cloth all over again.

The Micky Mouse currency was worth exactly the value it was when created
(nothing), the company produced nothing and the investors with the real
money get nothing back. The video makes the point that the second
biggest company operating in this scam like way is also just about to go
bust and other crypto companies operating in a similar way have a paper
value of trillions but probably have zero assets of any kind that can be
cashed back in for any real currency.

--
mailto : news {at} admac {dot} myzen {dot} co {dot} uk

On Thu, 17 Nov 2022 19:03:49 +0000, alan_m <junk@admac.myzen.co.uk>
wrote:

>On 17/11/2022 18:30, Cursitor Doom wrote:
>> On 17 Nov 2022 17:17:43 GMT, Tim Streater <timstreater@greenbee.net>
>> wrote:
>>
>>> On 17 Nov 2022 at 14:02:36 GMT, alan_m <junk@admac.myzen.co.uk> wrote:
>>>
>>>>
>>>> https://www.youtube.com/watch?v=Mp2Vx7Qtt5I
>>>>
>>>> A fairly long video - and contains a few minutes of advertising in one slot
>>>>
>>>> Crypto Market in MELTDOWN?
>>>
>>> Serves the fuckers right.
>>>
>>> At FiL's house today as we're doing a house clearance there. Looking there at
>>> an issue of Which, it had something of a description of Crypto-shit and how
>>> so-called influencers would hype up a new one to increase its value, cash in,
>>> and then have no more to say about it. Names of foopballers and so-called
>>> celebs were mentioned in the same context. The whole thing's a scam and serves
>>> no useful purpose.
>>
>> No one seemed to notice that these 'coins' carried no value forward
>> into the future. Their entire supposed value came from energy and time
>> expended in creating them. What use is that to a holder in the future?
>> At least with currency notes you have a stake in the underlying
>> economy of the country which issued them, despite claims they're based
>> solely on faith.
>
>
>The coins had no value in the past.
>
>The main thing about the crypto company that's gone bust is that no real
>effort or energy went into creating the coin (token). On day one they
>created some valueless Micky Mouse currency, claimed it was worth
>billions of dollars and then persuade the punters to part with real
>money to invest in it. Investors probably thought it's was a good bet
>because the value of the company went from zero to a self proclaimed
>value of 32 billion dollars in a couple of years (and back down to zero
>in under 10 months). It's the Emperors new cloth all over again.
>
>The Micky Mouse currency was worth exactly the value it was when created
>(nothing), the company produced nothing and the investors with the real
>money get nothing back. The video makes the point that the second
>biggest company operating in this scam like way is also just about to go
>bust and other crypto companies operating in a similar way have a paper
>value of trillions but probably have zero assets of any kind that can be
>cashed back in for any real currency.

Sounds like a repetition of the Great South Central Pacific and
Mexican Railway to me. :)

On Thu, 17 Nov 2022 20:46:52 +0000, Cursitor Doom <cd@notformail.com>
wrote:

>Sounds like a repetition of the Great South Central Pacific and
>Mexican Railway to me. :)
>

Or indeed this true story from 1978. "The Billion Dollar Bubble".

https://www.youtube.com/watch?v=tIIo4_-jxY4