It all started to get like, you know what? I think I'm good. But how much was I risking, if also tomorrow it wiped out? And I was starting to sit there and thinking of how much money was I truly making when I was investing here. It started drawing up red flags to me, started sounding or feeling like something weird. when people were talking about hyping other coins and this, that. Like I'm in my car and I'm still investing in crypto. Something about the convenience, then I think that's where it goes back to the PayPal thing. I just happened to end up living in my car because of circumstances, because, you know if you're in L.A.īut this one made me laugh, because I was in my car and able to get even more broker than I am. Like other people do with the real serious money. Now, in my case, I saw it as a secondary kind of banking account and I can get a little bit of dividends, kind of. PayPal gave you the option to have it in your phone, so you can drop anything in there real quick and you have some money invested in crypto. I want to say it was last year during Elon Musk's hype, and the Dogecoin hype and all that kind of stuff. I am actually 40 now, and I am in Los Angeles. Here's one listener's story:ĪMOS IRIQUI: My name is Amos Iriqui. A quarter of Black American investors owned cryptocurrencies at the start of this year, compared with only 15% of white investors, according to the Financial Times. A recent NBC poll found that half of men in the United States between the ages of 18 and 49 have dabbled in crypto, the highest share of all demographic groups. But the crypto craze hasn't swept across societal society evenly. One in six Americans have invested in crypto, according to Pew Research Center. ( 'This Is A Ponzi Scheme': Listener Amos Iriqui On The Crypto Craze
#MSNBC MELTDOWN SOFTWARE#
( White, software engineer who maintains the blog Web3 is Going Great, a site documenting the scams and crashes of the crypto world. She is speaking on her own behalf, not on behalf of the SEC or her fellow commissioners. Hester Peirce, one of the five commissioners of the Securities and Exchange Commission. Could it pave the way to new regulations? Guests Today, On Point: The crypto market is in meltdown, with $2 trillion lost so far. Only the rich that have enough money to profit are going to profit." "I sat there and I sat for a long time before the Ponzi obviousness came out," listener Amos Iriqui says. (Photo by JACK GUEZ / AFP) (Photo by JACK GUEZ/AFP via Getty Images)Īs many as one in five Americans have invested in crypto.įor some, it’s been a financial miracle. But others have lost it all: A picture taken on Februshows a visual representation of the digital crypto-currency Bitcoin, at the "Bitcoin Change" shop in the Israeli city of Tel Aviv.
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