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Crypto might be in trouble? Check this out from blog The Technology blog and podcast

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Crypto might be in trouble? Check this out

So … I’ve had quite a number of people on clubhouse approach me about crypto and how I can make $16k if I just invest $5k in Crypto under Forex.

While I love the idea of Crypto and its technology, I, among other people in the disabled community, can’t invest such large numbers in to a system that could probably crash tomorrow.

One person, even went as far as to say that if I don’t, I’ll “be sorry” as this is the future. The profile said they were in hardship and a loss, and then he went in to how good Forex is.

Forex is automated, and like th stockmarket, could have consequences. If you do it, go at your own risk.

This morning, one of the listeners to the Security Box, sent me this Yahoo! news article Big Hires, Big Money and a D.C. Blitz: A Bold Plan to Dominate Crypto which I found interesting.

Two people are tryoing to dominate Crypto and get it the money of the future. My hunch is that at some point, Crypto including Bitcoin will fall, but not necessarily crash. Those who invest thousands of dollars and get double their investment better enjoy that for now, as at some point, it won’t happen anymore.

I’m not really sure what this article will say in the long run, but the problem is that crypto is not regulated, and if they think this will have any effect, I’m not sure.

Even those who have started taking Crypto as payment have backed out, although I have seen Namecheap taking crypto as payment which is awesome. But I’ve heard that others have backed out.

If you’ve read this article, what do you think? Is there a chance with what these guys are doing or not?

Do pass along your thoughts. I’d be curious on what you say!

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Crypto might be in trouble? Check this out was released on October 30, 2021 at 8:00 am by tech in article commentary.
Last modified: October 30, 2021.

Comments (1)

  1. Comment by crashmaster date 2 November 2021 alle 12:52 (),

    Well crypto seems to be the new black lately.
    So its issues.
    Well no regulation which people say is a good thing after all its secure and no corperate bastards are getting anything.
    Of course being its secure, those came companies are concerned because anyone can use it good and bad.
    That would be fine and eventually handle itself most likely, except that exchange points are a target for hackers.
    No real coverage really impacts the media but from what is broadcast we know they happen a lot or enough to generate a few media reports.
    So things like bitcoin started with the owner putting so much in the system.
    There is a limited amount of coins in the system.
    Eventually the author contribution gets lower and lower till nothing.
    Its assumme I guess the network then runs itself from that point.
    However how to intergrate exchange of crypto into normal currency with all the fluctuations going on.
    So I guess a currency would need to be regulated for at some stage.
    At this current moment in time though the only global currencies are euros because the union uses them and so everyone else must use them to, or, the us dollar which has been traded in asia and other places long before the euro existed.

    Modern virus and climate preasures asside for the moment though thats still a big if.

    With no control on the market of crypto and highly fluctuating exchange rate its almost impossible to predict what your stock is going to be.
    Next we get down to the mining of the coin.
    Firstly we know that the net generates a lot of heat and has a lot of power and a lot of that is fostle fuel driven.
    So crypto uses resources that we really should move away from and generates its own circle of waste thus eventually defeating itself in a circle.
    If this wasn’t bad enough, using spare resources for mining while not good may not be practicable, especially since a lot of places have data caps still in work.
    Then there are the data miners themselves, with little oversight just about any man and his dog can get, set one up and run it.
    So they are an avenue for hackers.
    Never mind how dangerous they actually could be.
    I have seen a lot of traffic in blindness and other communities about getting money by installing this and that app on their phone or pc.
    And while yeah that may be good, at best you may or may not get the returns minus unregulated admin fees which could be anything.
    At worst you may be mining more than cash, and could be supporting terrorists or getting your information used in scam attacks.
    I have had family and a few others unknowingly involved in some of these attacks without realising it till the cops came round.
    What is worse, even if they know that its not you, its almost certainly impossible to find who did it because they move on quickly.
    I have heard news stories about a guy convicted for something and the cops realising that its well something else but being its really not traceable unable to get anything sorted.
    Worse the guy is still convicted because once its recorded you can’t undo it so there is a note to say its an attack but one assumes every time this guy leaves the country or does anything a physical person needs to manually check things and there could be worse.
    And even if it works I have heard stories or as many of them saying you rarely if at all break even.
    So becoming a crypto miner really aint great unless you are a university or are a corperation with space.
    And if you listen to the resident evil and other movies you can see how corrupt and evil powerhungry executives can actually be so not good.
    Minus corrupted countries and other things.
    Not to mention the issues modern currency has.
    Now this aint discouraging people from crypto, but while its up its up.
    When its down, its down.
    But if it goes down your stuff aint worth anything till its cashed out.
    In fact your crypto aint worth anything till you cash it or use it.

    Will crypto end.
    Probably not but then you wouldn’t know.
    Its unlikely to crash the global markets even if it did end all of a sudden.
    No one will go hungry if it ends or maybe not that many.
    So at this point I expect there will be regulation to either stop it completely which means it goes underground which will not be good or the world will need a global regulated encripted currency.
    With the environmental constraints going on not sure.
    On the other hand with covid, etc I am unsure why we don’t have credit chips yet.
    Even before covid I have been using my magcard more than handing out cash and now days, where I need to I use the magnetic or chip card, my paypal or direct transfer later on rather than cash.
    I mean its good to have it but well there’s that.
    I’ve been meaning to write down my thoughts but life, and the way some things run hasn’t really put itself to getting me to write.

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