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RE: Crypto Takeover From The Third World
Since my VPN has been down, i focused more time on recording videos and am posting them regularly. I havent posted any recently because dtube is now blocked in china.
Crypto is cool and all, but i recently got burned pretty badly from the QuadrigaCX exchange fiasco. Losing money due to a bear market is one thing, but losing a significant amount of dollars in fiat due to an exchange is another. I was buying periodically and now what was remaining on that exchange is gone for now. Not sure what to do and im hesitant to dump even more fiat into crypto now.
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Yeah I saw that China blocked Steemit.com and DTube....etc. That stucks for sure. It actually angers me the way they censor the Internet.
I'm sorry to hear you got caught up in the QuadrigaCX situation. I had a friend in Tucson that got caught up in the Mt. Gox situation. Once that got caught up in the MintPal situation. Another one that got caught up in the Cryptsy situation. And now a couple in the Cryptopia situation and now you in the QuadrigaCX quagmire.
I'm like ultra paranoid over here trying to lock down my crypto and backing it up on like 4 harddrives and paper backups....etc. I'm a legit private key bank over here.
Hopefully they can get something sorted out but like we have seen with the Mt. Gox situation it has taking years and years with no final resolution. It literally crashed the crypto market twice.
I have a few more bullets in the chamber to commit more fiat but I also am trying to always stay in a position where I can live for two years without making any fiat money. I am making fiat money but that is my goal.
In reality I have not spent my money on crypto. I converted a lot over to the people's money. That is more of the way I look at it.
Thats the thing with crypto, you become paranoid about security and losing your funds. You know the downsides of cold storage, paper, hot wallets, etc, so you try all of them, but then that causes security issues because there are more ways a hacker/thief could find your private keys and the cycle continues.
I really hope the quadriga situation works out but i am assuming my money is gone for good.
Id like to move from fiat to crypto, but as much as we dont like fiat for certain reasons, it is still a safer bet.
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I will keep my feet partially in both worlds for sure and also try to have things that are of utility value as well. Ultimately in the next real estate slump I would like to acquire properties again.
I'm sort of jumping from investment to investment in a lot of ways but in the end I want to get more diversified as my investments grow.
As much as I like precious metals I don't like them because we don't know how much gold or silver there is in the world and we don't know how much paper silver / gold is out there on the markets. My hope is that with crypto it will become a point where people can partially get away from centralized exchanges as the ATM networks grow and decentralized exchanges potentially become easier to use.
I'm mainly hoping that this time around will be my last time really pumping money in and utilizing the centralized exchanges for the most part. Like that I can primarily stay in the crypto world with the rise of some other dollar pegged cryptos.
I was blown away that this time NuBits, BitUSD, and STEEM Dollars all failed essentially and Tether got yanked aways from $1 but suddenly didn't implode completely yet.