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by FrontierPsych 1303 days ago
I appreciate the scale of it, greed has no upper limit.

I didn't buy any, because the whole thing smelled like a scam to me.

There is nothing behind crypto. It's all smoke and mirrors, and playing not potato. The dollar is backed up by the strongest country in the world and by 330 million Americans who use the dollar. Nothing is 100% secure but the dollar has to be in the top most secure.

There are very limited uses for crypto.

You can't use it at stores, you can't use it anywhere.

I foresaw the collapse of all the crypto a long time ago. I'm not a sage, it just was obvious to me. Many others said the same - Warren Buffett and Charlie Munger of Berkshire, for example, said crypto is horrible. Munger famously compared it to rat poison.

“To me, it’s just dementia,” Munger said Saturday during Berkshire Hathaway annual shareholders meeting in Omaha, Nebraska. “It’s like somebody else is trading turds, and you decide you can’t be left out.”

People are greedy and fall for this type of thing all the time.

It was the same in the housing market crash in 2009. I forsaw that also, I read at the time that people were getting loans who had no job, only put 2% down, I knew people who did it, it was no secret. I thought that was crazy and new we were in a housing bubble then, or at least very scary. And again, I was not the only one. And all these people who bought homes and then lost them...it is the same thing. Greed and lying on the buyer's part.