Crypto is dead. Until it gets regulated.

On top of regulation, I kept hearing all these dazed ruined crypto HODLers started to chant "Not your wallet, not your crypto" as if, of course that was the simple solution that would have fixed this crypto implosion. To me, it sounds like another ploy to get people to hold onto their sh*tcoins longer because if everyone dumped their penny stocks, the price would go much lower.

Equities are held in street name. Has been forever. When a penny stock dumps, you don't hear the bag holder chanting "Not your certificate, not your stock". They dump the LOSER.

The difference between equities brokers and crypto brokers is regulation. Better regulation means stronger trust, hence why no one ever complains about the brokerage holding their securities.

Dump those sh*tcoins!
 
To me, it sounds like another ploy to get people to hold onto their sh*tcoins longer because if everyone dumped their penny stocks, the price would go much lower.
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I am confused by the logic here. :confused: I guess what you are implying is if you don't have your crypto on an exchange then you can't sell it? So the price can't go down more?

The difference between equities brokers and crypto brokers is regulation.
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This doesn't make sense either. In Canada the top crypto brokers are regulated by the government. And we've had crypto ETFs (regulated) for ages now, plenty of them.
 
The_Krakenite said:
I am confused by the logic here. :confused: I guess what you are implying is if you don't have your crypto on an exchange then you can't sell it? So the price can't go down more?



This doesn't make sense either. In Canada the top crypto brokers are regulated by the government. And we've had crypto ETFs (regulated) for ages now, plenty of them.
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Simply saying, cryptos are just assets like penny stocks. The industry is so chaotic, untrustworthy and unregulated that you can't even trust that the brokers will keep your assets safe. Cryptos should work the same as penny stocks. Buy it but should be able to leave it with the brokers. Then dump it when the realization it was another sh*tcoin with no fundamental foot to stand on. Crypto bros want you HODL it for the rest of your dear life as if it's some super magic fairy dust that will make you unimaginably rich in the future.

You know since I've gotten into shorting small cap crap like biopharm companies, I see a LOT of parallels to crypto craze. Short sellers like Dux, Grittani, Verma, etc. know the game well. Some crappy, fake biopharm sends out a release that in testing they cured cancer, the penny stock gets pumped to sky high levels, then at some point, they released a filing to issue a ton of new stock causing the price to implode ie rug pull.

The parallel is the crypto bros conjuring up another magic sh*tcoin. Saying it will be the most energy efficient coin ever with million txns/second potential. It will be the SUPER BTC and solved all the woes of BTC. You know those smarty pants contracts that will generate the monkey NFTs that will make you explode in ecstasy. But then at some point you realize Logan Paul just rug pulled you.

But of course if you only had heed the warning "not your wallet, not your crypto", it would have saved you! Having Logan Paul sh*tcoin on your Ledger is the smart investment decision!
 
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BTC starting to roll off the 50-day moving average as selling volume picks up....
 

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