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681 points Anon84 | 2 comments | | HN request time: 0s | source
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reenorap ◴[] No.46193336[source]
I worked at a crypto exchange and after I came to the conclusion that 99% of crypto was scams and rugpulls, I sold all my crypto and vowed to have nothing to do with it. It's more of a religion than a financial instrument and absolutely nothing has shown to me that crypto is anything more than a speculative gamble, basically tulips with the religious promise of a better world. The number of employees that lost money on rugpulls while I was there, but "still believed in crypto" was staggering.
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teekert ◴[] No.46193437[source]
My advice is always: Just hodl some bitcoin, but not in amounts that make you cry when you loose it.

It's been better for me so far than normal savings accounts.

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anthonypasq ◴[] No.46195250[source]
well i would hope so, a normal savings account has 0 risk. im not sure this is a great argument to hold some bitcoin lol
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sneak ◴[] No.46195345[source]
A normal savings account does not have zero risk.
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bangaladore ◴[] No.46196217[source]
What risk are you taking on with a normal savings account?

If you are saying the global collapse of the financial system, crypto will be the first to fall in that case. Crypto like BTC is pretty much a more volatile market tracker.

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anon7725 ◴[] No.46196516[source]
Inflation risk.
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bangaladore ◴[] No.46196654[source]
I think most people would accept inflation as less of a risk then 20+% swings of the crypto market on a fairly common basis.
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1. sneak ◴[] No.46197181[source]
If they’re that common, it’s easy to profit 20% from them.
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2. bangaladore ◴[] No.46199065[source]
That makes absolutely zero sense, and you know it. I understand you are here to essentially shill bitcoin given you have a company that exists because of it but at least argue in good faith.