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Cinnamon

Still think crypto currencies are a store of value? Ethereum just flash-crashed 96% in a matter of minutes

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 Cinnamon    22,772

For the past few weeks, I’ve been warning about the extreme volatility of crypto currencies, urging readers to steer clear of the outlandish risks of these unproven, untested “casino-style” betting markets. As if placing an exclamation mark on that very point, Ethereum flash-crashed by 96% today, plunging from $360 to $13 in a matter of minutes. Although it later recovered, the cause behind the flash-crash proves than Ethereum, much like Bitcoin, is nowhere near the level of technical maturity needed for a reliable store of wealth.

Online crypto currency wallet Coinbase, run by fraudsters and con artists who have quietly seized (i.e. “stolen”) Bitcoins from U.S. users while providing them no recourse whatsoever, was shuttered by the Ethereum plunge. “As tends to happen without fail during volatile crypto-periods, the crash almost immediately took the Coinbase offline,” reported Zero Hedge.

<snip>

http://www.naturalnews.com/2017-06-21-still-think-crypto-currencies-are-a-store-of-value-ethereum-just-flash-crashed-96-in-a-matter-of-minutes.html

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 phxsparks    840
52 minutes ago, Cinnamon said:

For the past few weeks, I’ve been warning about the extreme volatility of crypto currencies, urging readers to steer clear of the outlandish risks of these unproven, untested “casino-style” betting markets. As if placing an exclamation mark on that very point, Ethereum flash-crashed by 96% today, plunging from $360 to $13 in a matter of minutes. Although it later recovered, the cause behind the flash-crash proves than Ethereum, much like Bitcoin, is nowhere near the level of technical maturity needed for a reliable store of wealth.

Online crypto currency wallet Coinbase, run by fraudsters and con artists who have quietly seized (i.e. “stolen”) Bitcoins from U.S. users while providing them no recourse whatsoever, was shuttered by the Ethereum plunge. “As tends to happen without fail during volatile crypto-periods, the crash almost immediately took the Coinbase offline,” reported Zero Hedge.

<snip>

http://www.naturalnews.com/2017-06-21-still-think-crypto-currencies-are-a-store-of-value-ethereum-just-flash-crashed-96-in-a-matter-of-minutes.html

IMO crypto currencies should be steered clear of.  If anyone wants a safe way to store and retain wealth; gold and silver are the best way to do that.  Traditionally, silver is the precious metal for average working people.

And, silver is relatively inexpensive at this time.  I won't bother to post the price today, anyone reading this can get that information if they are interested.

Always remember you must be able to have physical possession, hold it in your hands; otherwise you don't own it and it is not secure.

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 Tarmalen    1,295
1 hour ago, Cinnamon said:

For the past few weeks, I’ve been warning about the extreme volatility of crypto currencies, urging readers to steer clear of the outlandish risks of these unproven, untested “casino-style” betting markets. As if placing an exclamation mark on that very point, Ethereum flash-crashed by 96% today, plunging from $360 to $13 in a matter of minutes. Although it later recovered, the cause behind the flash-crash proves than Ethereum, much like Bitcoin, is nowhere near the level of technical maturity needed for a reliable store of wealth.

Online crypto currency wallet Coinbase, run by fraudsters and con artists who have quietly seized (i.e. “stolen”) Bitcoins from U.S. users while providing them no recourse whatsoever, was shuttered by the Ethereum plunge. “As tends to happen without fail during volatile crypto-periods, the crash almost immediately took the Coinbase offline,” reported Zero Hedge.

<snip>

http://www.naturalnews.com/2017-06-21-still-think-crypto-currencies-are-a-store-of-value-ethereum-just-flash-crashed-96-in-a-matter-of-minutes.html

If you know the architecture of a device then it is open to "interpretation".

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 Ukshep    19,871

Oh well. I warned people in a chat room days ago about just this. They must be crying and pissed off right now. That is what they get for not listening.

First waves of crypto currency will sap wealth and savings with crashes. The real digital currency comes later on a little. This wave is to do nothing more than sap wealth from those who normally horde elsewhere!

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 2QIK4U    315

Lol and that was supposed to be your new currency once the dollar was destroyed and bitcoin was scammed into non existance..  Now you have to print more monopoly money that will be toilet paper soon.   GET OUT NOW.  it's happened so gradually you don't see how 80,s you are Murica.  😨

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 YourMom2    1,354

Hard assets. Commodities. These are the things that can be bartered....no electricity required.

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 YaKnow2.0    681

I have 2 bitcoins!! 2 yrs ago me n 2 of my buddy started mining for them.Lets just say my electric bill was $1500 for 2 months.I burned through 1 computer and so did 1 of my dudes!!It tooks us roughly 1200 hrs to mine 1 bitcoin which we split.I ended up buying 2.As of rite now im in the green(i bought them when they where 178 bucks a piece.I keep them just for fun!!!I dont rely on them for anything just novelty.Now my brother(2 yrs clean) he has bought heroin,mushrooms,acid and some of the greatest cocaine i ever did(when dumb shiit like that mattered to me) using the silk road when it was legit!!!

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 Uncle Thanky    1,148
1 hour ago, YourMom2 said:

Hard assets. Commodities. These are the things that can be bartered....no electricity required.

Don't forget Skills and Labor.

 

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