Agree, 100%. Never a penny in crypto.

And isn't anything real.

I saw this in an article the other day, and it's telling. It shows 311 cryptocurrencies participating in sponsorship deals with sports organizations.

311.

This is not an industry that existed a decade ago. What this tells me is that the barrier for entry is really low, and anyone and their dog can create their own "cryptocurrency". Literally their dog since some of them are named after dogs.

I recognize that I'm a trailing edge sort of guy on these things. I've missed some opportunities as a result. But I'm staying far away from this stuff. It's not real.

https://pbs.twimg.com/media/FhT2r94X...png&name=small

Rocka invested in Uranus

Tuck rules and deflated footballs for everyone!

Well if society put that money into repairing bridges, you have a better bridge.

If you put it into digging a hole in the ground, you have a big pit.

If you put it into FTX, you have full time employment for a lot of attorneys.

So I guess it's all good.

"Hi, famous athlete/movie star, do I have a deal for you!"

"You can do some ads for us, support us on social media, etc. We will pay you with our product!"

"The great thing: since you are famous athlete/movie star promoting our product, it take off and you will have been in on the ground floor!"

The famous people really didn't lose anything but their time. The dumbasses that actually bought into it with real money are the people that got ****ed.

The way this FTX company went down is actually pretty crazy. Tons of companies were just throwing money at these people, when all the warning signs were right there...

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I didn't have any crypto investments because I didn't trust it but I never enjoy others' suffering.

Crypto felt gimmicky. Still does.

I understand the broadstrokes (...I think). Even if I had any interest, the unregulated aspects of it would scare me off.

I mined it and paid for 3 video cards 2 3090's and a 3080Ti, got an extra $400 so ya it was worth it. Sold what I had saved mostly at 44k, then the rest at 30k. It was NEVER a long term investment for me.

People trying to make a buck.

Mahomes was advised to sell NFTs. He had no idea that what he was doing would look like theft down the road. People convinced him he was ahead of the curve.

FOMO is bad when it comes to investing, people.

Madoff scammed huge numbers of rich people. Madoff actually had a history of being a financial whiz though.

IOW, just because someone has money doesn't mean they aren't also gullible.

No doubt MTG lost his ass on “investments” like FTX and AMC.

And that man also said **** regulation and lobbied against it.

What's a little commingling users accounts in order to cover your bad bets among friends to the tune of 30 billion give or take.

Crypto "we don't need no stinken' regs looking over our shoulder" magic trust us.

It is real. It is a real total fraud. As many others have said, huge ponzi scheme.

The media and the rich/famous haven't denounced this since it is helping make them money via advertising and endorsements. Politicians like donations in any form. As much as I like Brady the player, he has zero ethics to be hyping this s**t. Same goes for all of the celebrities/athletes and everyone else including Bill Clinton who isn't going to denounce something that he may profit from.

Anyone who has even average intelligence and some common sense realizes the entire crypto space is a fraud.

The "investors" just hope the hype lures more investors before they bail and leave others holding the bag.

But the product as Warren Buffet's sidekick has stated has zero intrinsic value.

A 14 year old kid really good with computer algorithms/math can create their own crypto currency with the money they earn on a paper route.

The hard part is having the money/contacts to hype it up and to convince investors that the ponzi scheme will work well enough for this currency to be worthy investing in.

Just a fraud. Complete fraud.