Crypto.

[vinceASPECT]

Hello Forum,

That crypto fraud in the News.........Horrific........

10 billion dollars theft *** SAM BANKMAN-FRIED******

========================================

i just wondered if my Crypto understanding (below)  is correct..........?

1) You Run the tool  .....say  "bitcoin" on  some Server farms or PC
'
2) .......you are rewarded with BITCOINS for the more CPU  Horsepower you offer the bitcoin Tool.......more  Power. = mining coins faster......

3)  Another way to get bitcoins is just BUY THEM from other uses or from "the POOL" using currency....?

4)  THe Reason your "already OWNED bitcoins" may be increasing in "dollar value" is simply because MORE customers have since joined the BITCOIN block chain and used "currency" to buy
bitcoins.........(there-for, over-all, the value of ALL bitcoins increases)  VICE VERSA

Why are people interested in CRYPTO...........because they can MOON.....and rise sharply
There are NO FEES.........transactions are limitless etc


is there some truth to the above?

thanks
C

[gadget42]

tulipmania:
https://en.wikipedia.org/wiki/Tulip_mania
and...
digital anything is worthless without electricity(go Snake Plissken and EMP!):
https://www.youtube.com/watch?v=gHUqNCDwQj4

20231104-0552am-cdt-usa-modified-added some keywords for later searchers

[vinceASPECT]

Hello Forum,

Not  sure..............  it  could be that Crypto is a "pyramid" type accumulative thing.


The vid below shows HOW  a "crypto coin buyers"  coins ......increase in value
(from perspective)

......... it somehow helps   

Thx
C

https://www.youtube.com/watch?v=8VSztCUbvQw&t=138s

[gadget42]

https://www.mollywhite.net/annotations/latecomers-guide-to-crypto/
https://edition.cnn.com/2022/06/15/tech/bill-gates-crypto-nfts-comments/index.html
https://www.stephendiehl.com/blog/crypto-absurd.html

[vinceASPECT]

HEllo Forum,

He thieved it all   .......8   to  10 billion  usd  dollars    ( peoples money )

Lord.

https://www.youtube.com/watch?v=3QpdU9LS540

Thx.