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BitCoin falling like a Dotcom


joeken24

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On 1/12/2023 at 7:28 PM, Cooked Crack said:

 

 

 

Just because you didn’t buy a big yacht with the money you embezzled from dumb investors does not make you innocent.

 

 

2 hours ago, abdcskins said:

Small rally recently.


The key word being recently 

 

 

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Edited by Corcaigh
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Bitcoin scammers made so much money they 'handed out £5,000 gift cards in the street'

 

Police say a gang of Bitcoin fraudsters made so much money they handed out £5,000 gift cards to people in the street and bought cars for people they met in the pub.

 

Four criminals at the centre of the £22m conspiracy have now been sentenced. They worked with ringleader James Parker, who masterminded the scam from his Blackpool home. Parker died in 2021 before he could be brought to justice.

 

Between October 2017 and January 2018 the group exploited a loophole to siphon off more than £20m from Parker's trading account on an Australian-based cryptocurrency exchange. Parker's corrupt financial adviser Stephen Boys, nicknamed 'Rodney' after the character in Only Fools and Horses, helped launder the stolen funds.

 

The scam made so much money that £5,000 gift cards were handed out to people in the street and cars were bought for people Parker met in the pub. During the trial Boys told the court how he took £1m cash in a suitcase to buy a villa from Russians he met in the back office of an estate agent and paid £60,000 to pay off corrupt officials so he could carry on laundering money.

 

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Another cryptoscammer?  I'm shocked.  Shocked I tell you...

 

This ‘Cryptoqueen’ scammed investors out of $4 billion, the FBI says. Then she boarded a plane and disappeared

 

Ruja Ignatova strode onto the stage in a flowing burgundy ball gown adorned with black sparkles. Beams of light flashed, fireballs erupted and Alicia Keys’ “Girl on Fire” blared through the speakers.

 

“Looks like a girl, but she’s a flame. So bright, she can burn your eyes – better look the other way,” the song crooned as a beaming Ignatova thanked the cheering crowd at London’s Wembley Arena.

 

That was in June 2016, when cryptocurrency was an emerging buzzword and investors were scrambling to cash in. Ignatova called herself the “Cryptoqueen” and touted her company, OneCoin, as a lucrative rival to Bitcoin in the growing cryptocurrency market.

 

“In two years, nobody will speak about Bitcoin anymore,” she said, as investors applauded and whistled.

 

Sixteen months later, Ignatova boarded a plane in Sofia, Bulgaria, and vanished. She hasn’t been seen since.

 

Authorities say OneCoin was a pyramid scheme that defrauded people out of more than $4 billion as Ignatova convinced investors in the US and around the globe to throw fistfuls of cash at her company. Federal prosecutors describe OneCoin as one of the largest international fraud schemes ever perpetrated.

 

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Cruz tackling the issues that are important to the American people:

 

Ted Cruz Wants to Use Crypto in U.S. Capitol Vending Machines

 

There’s no such thing as a free lunch (or snack) and Texas Senator Ted Cruz knows this, which is why the conservative wants to bring cryptocurrency into Congress.

 

On Wednesday, Cruz introduced the ACCEPT Resolution, which stands for Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions Resolution. If adopted, the resolution could see the U.S. government contracting with food vendors and vending machine operators that accept cryptocurrency. The ACCEPT Resolution is not a bill, but a concurrent resolution, which are used to make or amend rules for the House and Senate, meaning that the ACCEPT Resolution wouldn’t apply to any vending machines or food sales outside of the Capitol property.

 

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7 minutes ago, Califan007 The Constipated said:

Who here has/owns/does/whatever cryptocurrency? If you do, tell me why you do. I'm not judging because I have next to no knowledge of how any of this works lol...but I want to know the motivations for...I guess, investing USD into a crypto currency? Did I say that right?

Bought a coin when it was 3850.00. Sold it when it hit 45,000.  Should have waited a little longer but not complaining about a nice 41 grand profit. Only reason I bought one was because a buddy of mine was 100% positive it was going to take off. No clue how it works and I’m completely out of it now 

Edited by Tundra scout
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9 minutes ago, Tundra scout said:

Bought a coin when it was 3850.00. Sold it when it hit 45,000.  Should have waited a little longer but not complaining about a nice 41 grand profit. Only reason I bought one was because a buddy of mine was 100% positive it was going to take off. No clue how it works and I’m completely out of it now 

 

So it's like stocks? And is the only way you can convert it to USD is by selling it to someone else?

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3 hours ago, Fergasun said:

I do via an account for my teenage son. 

 

He thinks crypto is a great money making thing.  I have told him he is wrong...

 

He is going to sell his crypto and get into "day trading"... 

Please make sure he understands the potential tax ramifications.

https://www.forbes.com/sites/shaharziv/2021/03/26/robinhood-trader-may-face-800000-tax-bill/amp/


 

 

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13 hours ago, Fergasun said:

I do via an account for my teenage son. 

 

He thinks crypto is a great money making thing.  I have told him he is wrong...

 

He is going to sell his crypto and get into "day trading"... 

 

You purchase cryptocurrency through an account that is your son's?...Trying to make sure I understand lol...

 

***************

 

Also (for anyone): I take it there are numerous types of cryptocurrency...if so, what makes you gravitate to a certain type? And I also take it that each type has a different value (like stocks do)...what makes crypto values rise and fall? Again, I know jack **** about any of this lol...

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My 17 year old works and he asked me to buy like $150 in crypto.  I think he is down to $100...using his money from his income at a minimum wage job...

....

@Califan007 The Constipated

It's a scam... or it's more like investing in currency, if the currency was unregulated and generated by Wall Street Types. 

 

The original bitcoin rise was due to the "wow, people actually bought this... we sold Wall St a currency!!???"  and now Wall St is like, "come invest in crypto!!  come invest in bitcoin!!! get your e-money here before it goes up like it did before... "  

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59 minutes ago, Fergasun said:

 

....

@Califan007 The Constipated

It's a scam... or it's more like investing in currency, if the currency was unregulated and generated by Wall Street Types. 

 

The original bitcoin rise was due to the "wow, people actually bought this... we sold Wall St a currency!!???"  and now Wall St is like, "come invest in crypto!!  come invest in bitcoin!!! get your e-money here before it goes up like it did before... "  

 

 

Unfortunately this doesn't really answer my questions lol...

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My son will be so disappointed... he jumped out of bitcoin after losing 30% of what he put in earlier in December (half was probably fee related).

 

Since it's my name he traded in I was shocked at his account... he traded in about 20 different coins.  

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