Cryptocurrencies were down at the beginning of January so I thought I would finally invest for fun to try it out.

I bought $150 of mostly Bitcoin, and a little Ethereum.

It wiggled up and down by about 3% every day. Until yesterday.

Now I have lost almost 40% of my money.

Also, the cash-out transaction fees are huge. I can't ever take the money out without my "investment" just about doubling in value.

So basically, all $150 flushed down the toilet.

And this time, crypto is not expected to rebound. This was a "correction", somewhat tracking the stock market. But the analysts are saying that the stock market will eventually come back. But due to economics that I can barely comprehend, having to do with what the Fed did with interest rates -- cryptocurrency is expected to not come back up. A Bitcoin is worth about 40% less than it was, and it is expected to stay there indefinitely.

Some are saying that we have now entered the EndGame for crypto. (And they are saying it's different than the last time Bitcoin went down by 40%.)

Oh, well!

I am trying to decide if this was more fun than slot machines. I think it is less fun, because the way I play those, I break even.

Crypto is a distributed Ponzi scheme.

Most of the stable coins used to buy Bitcoin aren’t really backed 1:1 with actual dollars, more like 50:1. Funny money is used to prop it up. Only suckers use real money to buy Bitcoin. Tether is based in Hong Kong. The rest in Taiwan and South Korea. Thank you dumb fucking assholes for making East Asians rich and buying into this stupid Ponzi scheme.

Every generation experiences a Ponzi scheme. When you’ve fallen for one, you recognize them afterwards. If anybody has made money off Bitcoin, they have already mistimed selling when it was 70k. Now it’s down 50 percent from highs but many people still made money. They should sell now and pocket their gambling winnings.

Bitcoin is a classic Ponzi Scheme that depends on higher numbers of suckers to buy at higher prices an entity that doesn’t physically exist and doesn’t throw off earnings.

Then send it here:

bc1q7k247cra6q58fzw59xz78j06a3lcvprllx7um7

top of the distributed Ponzi
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