Crypto assets are increasingly being pledged as collateral for personal loans.

[Vandelay]

Use a volatile asset to buy property brehs

That great recession remix finna tear the club up

Restoring that 2008 feeling

This. 100% this...

What hell is the SEC doing man...

 

[High quality poster]

My 401k, savings, checking and investment accounts say otherwise.

But do tell how do you plan on killing yourself once the Blockchain ledger is thoroughly compromised by criminal actors and your entire crypto portfolio goes to zero

“My 401k…”
shut ya old ass up nikka

 

[Umoja]

This. 100% this...

What hell is the SEC doing man...

Part of me thinks they want it to happen so that they can step in and regulate.

 

[director_of_bands]

The crypto mirage will be like a bottom falling out.

makes sense you want it to crash your communist cronies cant manipulate any control mechanisms in crypto...

 

[Uitomy]

The concern is that it could cause another financial collapse.

If I provide monopoly money as collateral for a 30k loan, what incentive is there for me to repay that loan?

Funnily enough, I don't care about the average Joe doing this shyt but it is obvious to me that such exploits will be abused by those who find themselves with a golden parachute.

To be quite frankly we WILL see another financial collapse because our governments globally decided to stick with fiat money and let each other borrow themselves into oblivion, so might as well find some other methods, which is why I personally have most of my savings in crypto anyway. It's matured to the point we're seeing the first wave of big corporate players develop, I'm opting out of the dollar, we should have the freedom to choose the currencies we want without it being a burden on our neighbors

 

[Vandelay]

Part of me thinks they want it to happen so that they can step in and regulate.

I can see that. They're not oblivious to what the ramifications are, but I guess they need public buy in and will not get that PR push until a bunch of people lose their house and 401k.

 

[Piff Perkins]

Madness…

 

[Uitomy]

Which one do you think has the greatest most wide spread impact. A bank account going to zero or a crypto wallet going to zero

A bank account going to zero because of bank runs , ala 1929. Which is the fault of your institutions and governments that create fake money and use it to make your life and my life much harder than it is.

 

[Uitomy]

makes sense you want it to crash your communist cronies cant manipulate any control mechanisms in crypto...

shyt crazy to me people act like crypto currency is the only scam in the world or some shyt. Nobody forcing you to use any of it, but you will be forced to use the currency of whatever country you stay in, like damn is it that bad people want more financial options.

 

[Kenny West]

My 401k, savings, checking and investment accounts say otherwise.

But do tell how do you plan on killing yourself once the Blockchain ledger is thoroughly compromised by criminal actors and your entire crypto portfolio goes to zero

Wont happen with ETH.

But the vast majority of crytpo are ponzi schemes at this point and Bitcoin is stuck in a fundamental bull trap possibly forever imo. Stuff like this just shows you how illusory and fake the price support levels are. This shyt is as much a house of cards as the the US financial system that they criticize so much.

ETH is the exception though. They really have the chance to deliver on the promises of cryptocurrency

 

[Turbulent]

shyt crazy to me people act like crypto currency is the only scam in the world or some shyt. Nobody forcing you to use any of it, but you will be forced to use the currency of whatever country you stay in, like damn is it that bad people want more financial options.

This whole world is a game.

 

[Scustin Bieburr]

The crypto mirage will be like a bottom falling out.

I got crypto but I'm not even putting that much $ in there and I'm cashing out when the market is good.

You're sky diving without a chute if youre buying crypto with borrowed money or spending several thousand or even hundreds of thousands. And I've been seeing people doing this. I just look at them like 'couldn't be me' right now I have less than 2k in crypto. I can take that L if the market crashes cause my portfolio is pretty diversified

 

[Umoja]

To be quite frankly we WILL see another financial collapse because our governments globally decided to stick with fiat money and let each other borrow themselves into oblivion, so might as well find some other methods, which is why I personally have most of my savings in crypto anyway. It's matured to the point we're seeing the first wave of big corporate players develop, I'm opting out of the dollar, we should have the freedom to choose the currencies we want without it being a burden on our neighbors

 

[High quality poster]

I got crypto but I'm not even putting that much $ in there and I'm cashing out when the market is good.

You're sky diving without a chute if youre buying crypto with borrowed money or spending several thousand or even hundreds of thousands. And I've been seeing people doing this. I just look at them like 'couldn't be me' right now I have less than 2k in crypto. I can take that L if the market crashes cause my portfolio is pretty diversified

scared money don’t make no money

 

[boskey]

"All money is fake so we came up with an even faker version of money"