Whale Posted March 12, 2022 Share Posted March 12, 2022 If all of these crypto experts and chartists on YouTube are so good then why are they spending all their time making YouTube videos and not trading? IMHO 90% of them are chancers who are YouTubers and their main income is from YouTube "financial sector" ads which apparently are very high paying. They can also make money their running sponsor ads/shout outs and according to one video I watched yesterday, a channel with decent traffic can get 25K USD to shill a coin! But I don think a v small percentage of them must be genuine, which ones do you think are genuine? 2 Link to comment Share on other sites More sharing options...
fdsa Posted March 12, 2022 Share Posted March 12, 2022 (edited) Their main income is from cryptocurrency purchases made via their referral links. They don't care if you win or lose as they will get their cut anyways, just like the stock brokers. 17 minutes ago, Whale said: But I don think a v small percentage of them must be genuine, which ones do you think are genuine? none. People who know their stuff make money, not Youtube videos. Edited March 12, 2022 by fdsa 2 Link to comment Share on other sites More sharing options...
Roel Posted March 12, 2022 Share Posted March 12, 2022 38 minutes ago, Whale said: But I don think a v small percentage of them must be genuine, which ones do you think are genuine? Coin Bureau 1 Link to comment Share on other sites More sharing options...
Whale Posted March 12, 2022 Author Share Posted March 12, 2022 11 minutes ago, Roel said: Coin Bureau I do like Guy I must admit, excellent channel. Link to comment Share on other sites More sharing options...
OneMoreFarang Posted March 12, 2022 Share Posted March 12, 2022 Crypto only makes money for the current investors if more and more people buy crypto. So they have to promote it if they want to make money. Imagine how fast the price of crypto currencies would drop if nobody would buy it anymore. 2 Link to comment Share on other sites More sharing options...
Whale Posted March 12, 2022 Author Share Posted March 12, 2022 (edited) 17 minutes ago, OneMoreFarang said: Crypto only makes money for the current investors if more and more people buy crypto. So they have to promote it if they want to make money. Imagine how fast the price of crypto currencies would drop if nobody would buy it anymore. One of my pet theories is that if the banking sector and the especially the large financial houses and Central Banks had played an honest game with savings/interest and not used fractional reserve strategies (lending out more than you take in) then crypto would not exist, or def not have the "value" that we see today. Those who it hits hardest (banks esp) have caused their own potential downfall (well reduced profits anyway). They made people look at a totally bent system and to think of. alternative methods of financing. Will anyone of these methods and/or coins be successful? I have no idea whatsoever, the usage cases for 99 percent of them is highly questionable going forward. Edited March 12, 2022 by Whale 2 Link to comment Share on other sites More sharing options...
phetphet Posted March 12, 2022 Share Posted March 12, 2022 (edited) 38 minutes ago, Whale said: I do like Guy I must admit, excellent channel. He is supposedly a paid actor. https://www.reddit.com/r/AlgorandOfficial/comments/qfexzq/coinbureau_is_an_actor_that_works_for_v3_digital/ Edited March 12, 2022 by phetphet 1 Link to comment Share on other sites More sharing options...
Whale Posted March 12, 2022 Author Share Posted March 12, 2022 2 hours ago, phetphet said: He is supposedly a paid actor. https://www.reddit.com/r/AlgorandOfficial/comments/qfexzq/coinbureau_is_an_actor_that_works_for_v3_digital/ Wow, thats why he is so good :+) I did not know that. Link to comment Share on other sites More sharing options...
digibum Posted March 12, 2022 Share Posted March 12, 2022 2 hours ago, Whale said: One of my pet theories is that if the banking sector and the especially the large financial houses and Central Banks had played an honest game with savings/interest and not used fractional reserve strategies (lending out more than you take in) then crypto would not exist, or def not have the "value" that we see today. Those who it hits hardest (banks esp) have caused their own potential downfall (well reduced profits anyway). They made people look at a totally bent system and to think of. alternative methods of financing. Will anyone of these methods and/or coins be successful? I have no idea whatsoever, the usage cases for 99 percent of them is highly questionable going forward. Unfortunately, almost every crypto project is either a complete scam or in order to replicate what banks do in a way that would make them competitive with existing banks, they basically create a centralized service which just means an unregulated bank. And crypto doesn’t solve fractional reserve banking. Even most crypto enthusiasts shrug their shoulders when you ask if they really believe Tether is backed 1:1 with USD deposits. Link to comment Share on other sites More sharing options...
Whale Posted March 12, 2022 Author Share Posted March 12, 2022 26 minutes ago, digibum said: Unfortunately, almost every crypto project is either a complete scam or in order to replicate what banks do in a way that would make them competitive with existing banks, they basically create a centralized service which just means an unregulated bank. I agree, as I said I believe that 99% of them have no real effective usage. DeFi only exists because of the banks screwing over their main customer bases, most is based on tokens with no value other than short term gambling greed. Saying that I do stake 1 token but thats because I have a lot of conviction that token has a usage case and future. Link to comment Share on other sites More sharing options...
Popular Post Whale Posted March 12, 2022 Author Popular Post Share Posted March 12, 2022 BTW, my name "whale" has nothing to do with crypto. It's because I am quite flabby. OK, very flabby. 1 2 Link to comment Share on other sites More sharing options...
Sametboy2019 Posted March 12, 2022 Share Posted March 12, 2022 You make its sound like fractional banking is good? Actually i believe Ripple and its ODL service helps this Link to comment Share on other sites More sharing options...
Sparktrader Posted March 12, 2022 Share Posted March 12, 2022 5 hours ago, OneMoreFarang said: Crypto only makes money for the current investors if more and more people buy crypto. So they have to promote it if they want to make money. Imagine how fast the price of crypto currencies would drop if nobody would buy it anymore. Same is true for cars, houses, shares. 1 Link to comment Share on other sites More sharing options...
Sparktrader Posted March 12, 2022 Share Posted March 12, 2022 Michael Saylor is the best on bitcoin. He's a billionaire and smart guy. Link to comment Share on other sites More sharing options...
Sparktrader Posted March 12, 2022 Share Posted March 12, 2022 Stephen Bigalow best on trading. Candlestick guy. Not crypto. 99% of youtubers are full of <deleted>. Link to comment Share on other sites More sharing options...
Sparktrader Posted March 12, 2022 Share Posted March 12, 2022 Steve bigalow Link to comment Share on other sites More sharing options...
Sametboy2019 Posted March 12, 2022 Share Posted March 12, 2022 36 minutes ago, Sparktrader said: Michael Saylor is the best on bitcoin. He's a billionaire and smart guy. He is! Sure he is not here to help us. This crypto space is going to explode in the coming years. As the saying goes "Dont listen to what they say. Do what they do! Link to comment Share on other sites More sharing options...
how241 Posted March 12, 2022 Share Posted March 12, 2022 4 hours ago, digibum said: Even most crypto enthusiasts shrug their shoulders when you ask if they really believe Tether is backed 1:1 with USD deposits. Tether no, but USDP and USDC are backed 100%. Link to comment Share on other sites More sharing options...
OneMoreFarang Posted March 12, 2022 Share Posted March 12, 2022 1 hour ago, Sparktrader said: Same is true for cars, houses, shares. No. People live in houses and they use cars. And maybe they get a dividend on those shares. What to people with crypto currencies can do with those blockchain entries? Nothing. Link to comment Share on other sites More sharing options...
Sparktrader Posted March 12, 2022 Share Posted March 12, 2022 4 minutes ago, OneMoreFarang said: No. People live in houses and they use cars. And maybe they get a dividend on those shares. What to people with crypto currencies can do with those blockchain entries? Nothing. Cars lose 95% in 12 years. Houses also depreciate but land goes up. Most shares pay no dividends. People buy crypto like any investment. If it goes up they win. Btc is a hedge against inflation. Most crypto is <deleted> but so are most shares. Research is key. As Michael Saylor says do 100 hours research. Most people are just too lazy. Link to comment Share on other sites More sharing options...
OneMoreFarang Posted March 12, 2022 Share Posted March 12, 2022 13 minutes ago, Sparktrader said: People buy crypto like any investment. If it goes up they win. Crypto only goes up if there is a high demand. It's not exactly a Ponzi scheme but there are similarities. Link to comment Share on other sites More sharing options...
Sparktrader Posted March 12, 2022 Share Posted March 12, 2022 16 minutes ago, OneMoreFarang said: Crypto only goes up if there is a high demand. It's not exactly a Ponzi scheme but there are similarities. Fiat is a ponzi scheme. Massive money printing scam. Demand and supply drives all prices. Flood causes fruit prices to go up for example. Shares go up and down daily. You seem to not understand basic economics. Link to comment Share on other sites More sharing options...
Sparktrader Posted March 12, 2022 Share Posted March 12, 2022 https://bitcoinmagazine.com/culture/bitcoin-fixes-modern-fiat-ponzi-scheme 1 Link to comment Share on other sites More sharing options...
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