According to Logically, “A Logically investigation can reveal that, for the past year, two QAnon-affiliated influencers have been persuading their thousands of followers to invest in a portfolio of cryptocurrency tokens marked as fraudulent by the Stellar network — a major blockchain, alongside the better known Bitcoin and Ethereum — causing their followers to collectively lose millions of dollars, one of whom died by suicide after losing more than $100,000.” Praise Jesus! QAnon kooks are losing millions, and at least one killed himself as a result of being the morons that he was. There is a reason why crypto scammers are targeting QAnon kooks. It’s because stirring the fear that “the man” is out to get them fits perfectly with the notion that crypto is the new frontier for living “off the grid”; thus, “the man” (i.e., civil society) can’t track or control them for what is obviously the impending end of mankind.
Furthermore, crypto is a scam generally because people don’t really understand it — of course. People don’t seem to apprehend that crypto is “currency” with absolutely no underlying value other than what a collective few believe it is worth. (And given the number of people who transact in any one cryptocurrency, it really is a very, very few.) It is an “asset” derived from nothing more than what people “feel” (i.e., demand) about it. Bill Gates was absolutely correct, as CNBC writes, “Speaking at a TechCrunch talk on climate change Tuesday, the billionaire Microsoft co-founder described the phenomenon as something that’s ‘100% based on greater fool theory,’ referring to the idea that overvalued assets will go up in price when there are enough investors willing to pay more for them.” Bingo! Greater fool theory = QAnon kooks = douchebag Musk = most people.
Now, now! I can hear all the Federal Reserve conspiracy theorist f***tards yelling about how the U.S. dollar, for instance, is just as much fiat money as crypto since Nixon decoupled the greenback from the gold standard in 1971. One big difference: U.S. currency is backed by an actual (predictable) economy and the rule of law. It’s not the same with crypto, which is backed merely by the demand of interested parties and means it is completely susceptible to manipulation and bubbles. Witness the bubble bursting currently. I wonder how much douchebag “genius” Musk lost with his savvy crypto “investments?” I’m surprised douchebag Musk isn’t on T.V. and Twitter trying to talk up crypto to recoup his losses just like he’s done with other investments because — you know — that guy’s the “genius!” Whatever!
Everyone jumped on the crypto bandwagon without understanding the market in the hopes of getting rich quick, and now they’re getting poor quicker. I’d rather have my currency backed by something more than FOMO! The only thing crypto is good for is to evade authorities, which is perfect for RepubliKKKlans, MAGA morons, evil evangelicals, QAnon kooks, and any other nefarious entity or person. They say there are three emotions that drive investing: Hope, fear, and greed. Notice that none of these emotions has anything to do with competence or intelligence. Oh, well. Welcome to stupid America, where a sucker really is born every minute!