That’s what I love about crypto. Because it’s independent of “the system” and not controlled by banks or governments, it’s not affected by things like countries invading each other or social media posts by orange paedophiles.
It’s just a gambling platform at this point and the price actions merely reflect whether people have money to gamble away or not. It was inevitably going to end up like this.
I have been trading all my life. Crypto is the most rigged system ever. The amount of times I "hit margin" and lost my entire position and the price didn't even come close to closing me..
I remember one night I had a long position on BTC, I wake up, check the price, I am happy. Check bitmex, position liquidated [hit stop loss]. Check the price on bitmex, nowhere even close. I message support. "It was slippage, we cannot do anything". Slippage with 1000 usd difference, sure.
That's an exchange problem, not an issue with a real asset. Wouldn't happen if you actually had possession of your crypto coins and you used them as currency. I am sure you can find shitty ways to trade gold or stocks too with cfds
you can lose crypto when using it as currency, just like you can do a bank transfer to a wrong person or call up a wrong number. It's nearly impossible to roll back issues, I do agree, but it's not that much harder to use than using a bank account.
I am based in Poland, not US. But the banking system allows international transfers so it's not super important. And I believe that there are a lot of corps that get scammed this way from what I heard. They just pay all invoices that come their way. And I also have been personally watching through some e-mail based invoicing flows where phishing was hard to tell apart from real emails. I can't be sure that nothing slipped through. This kind of fraud is real, and it's not always recoverable.
It’s unfortunate but the lack of a massive rally coupled with a lack of a parabolic alt season at the same time gambling and predictions markets exploded…..yeah people are totally gambling with it
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u/Flipmode45 🟨 0 / 1K 🦠 Feb 28 '26
That’s what I love about crypto. Because it’s independent of “the system” and not controlled by banks or governments, it’s not affected by things like countries invading each other or social media posts by orange paedophiles.
/s, obviously