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I wasted years of my life in crypto

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681 points Anon84 | 1 comments | 07 Dec 25 12:57 UTC | HN request time: 0.286s | source
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reenorap ◴[08 Dec 25 15:28 UTC] 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 ◴[08 Dec 25 15:34 UTC] 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 ◴[08 Dec 25 17:41 UTC] 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 ◴[08 Dec 25 17:49 UTC] No.46195345[source]▶
A normal savings account does not have zero risk.
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bangaladore ◴[08 Dec 25 18:59 UTC] 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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1. sneak ◴[08 Dec 25 20:26 UTC] No.46197187[source]▶
Forcible illegal deportation is one.

ICE grabbed a US citizen friend of mine and threw her on a bus and drove her hundreds of miles away and was about to toss her over the wall to Mexico last week.

Civil asset forfeiture is another.

Tax warrants, which have zero burden of proof to be issued, are another.

I don’t keep money in banks, personally, after the third one bit me some years ago and I realized that storing money in banks makes it more likely to be stolen, not less.