Reply With QuoteIt will take years, Gensler has threatened so much and done nothing
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Timing huh, I'd just popped in to ask is this tomfoolery all over?
It will take years, Gensler has threatened so much and done nothing
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I’ve more than doubled my money in crypto in a short period as a fun punt and have taken my winnings. I’m on the side that it just a elaborate ponzi and a way of redistributing wealth, largely to the middleman rather than punters
I did very well out of crypto during lockdown - however I always treated it as straight forward gambling and the money used came out of my gambling not investment pot.
back to FTX - every new detail more amazing than the last:
https://twitter.com/SMTuffy/status/1591298661279203328
Think Tom Brady and his partner are one of the biggest individual losers.
Possibly $77m gone. Ouch.
But if he really is worth $650m then I guess he can handle it.
https://www.mirror.co.uk/sport/other...d-28470619.amp
Ouch indeed...Mrs P. who follows the American game, hates him.Originally Posted by mr noble
Wow to Alan´s link...so was it a fraud wrapped in a ponzi on vice versa...
Last edited by Passenger; 12th November 2022 at 10:45.
This isn't the end for crypto but I suspect the end for unregulated crypto
Is Binance the last significant exchange left standing?
Coinbase
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I expect Binance to fall with Tether.
Someone who lies about the little things will lie about the big things too.
:)
https://twitter.com/mark_dow/status/...YJt8SUWmQ&s=19
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Binance and Coinbase must be seeing huge withdrawals since FTX failed.
Even if you didn’t cash in your crypto you’d move it off the exchange if you had any sense wouldn’t you?
I've only got 1k in coinbase, well it was 1k couple weeks ago, I can't be bothered to get the ledger put tbh and much about with it
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I just don't understand bitcoin and don't have the time to read this thread. Can somebody please explain this in no more than 5 sentences?
Fried is also fried!
https://www.bbc.co.uk/news/technology-63612489
I was just at the point of withdrawing my small investment in Algorand a few days ago as it had levelled back out to roughly what I had put into it… and for some stupid reason I hesitated and now it’s down about 50%.
When / if it ever recovers again, I am done with this crypto shit show. Who knew unregulated finance would be such a mess.
Anyone here on crypto.com? Asking for a friend.
Someone who lies about the little things will lie about the big things too.
According to the FT Tether has has $3b of redemptions in the last 4 days.
Seems like people may want what’s left of their money back.
An electronic asset to trade which is basically a huge ponzi scheme and everyone is trying to get rich quick because a handful of indiviudals got extrememly wealthy off it, being at the top of the pyramid by joining back in 2010. Latest news is that people are learning for the umpteenth time that no regulation means mismanagement and people running off with your money...even those that look like they are they are an innocent castmember from Stranger Things and vow to donate all their billions to good causes. I think that's about it?
BUT, BUT, BUT I thought one of, if not it's only big USP was that it didn't need to be regulated by the whole Central Bank and Institutional regulatory apparatus type thingumybobs...freedom and true democratisation of munneeee...If that's gone it's no different to any other electronic transfer, or am I missing something, quite possibly.
I don't believe it.
Thanks mate. I thought it was probably something along those lines. People are remarkably gullible aren't they?!
I started with not much a long time ago and since pulling out most and committing the rest to ADA, I learned an awful lot early on just playing coinbase like a video game, which was a steep, fun learning curve. I still think ADA is a solid product, but digital climate change may still kill it. However, I think I'll just leave what is in there in there and see what happens. If it goes much lower but survives the current crisis, then I might even add to it. More likely, I'll just leave it be in coinbase (if tether doesn't kill it) and the back of my safe.
Last edited by M4tt; 14th November 2022 at 11:45.
They all look the same. Because they are all just ponzis.
Someone who lies about the little things will lie about the big things too.
Do I read that in a Victor Meldrew voice or is it sarcasm?
Consider Googling: 1) "Charlie Munger on Bitcoin"; 2) "Warren Buffett om Bitcoin"
Basically, Bitcoin is a gambling addiction to an unregulated digital asset with no intrinsic value which could hit 'zero'.
"Well they would say that ... wouldn't they!"
VM voice.
Sums it up for me.
It’s an electronic shell game scam on a huge scale.
Yes, purchased a little CRO this morning.
Don't have a significant exposure there though. I have a crypto.com card, which previously had better benefits, including higher yeild rates on their earn programme. I have nothing in the earn programme atm though. Just CRO and some in my fiat wallet for the card.
Not your keys.... Crypto.com is next to go down.
Someone who lies about the little things will lie about the big things too.
So the saying goes but there are downsides to self custody too. I'm fairly confident re crypto.com, though I only have CRO there. I have considered shifting some USDC there for short term yeild (6.5% 90 day lock up to $3k) but am pausing on that for now.
Dunno if you have seen all the deleted SBF tweets that were published overnight. I think it has become pretty clear that they have been hiding massive losses behind a wall of obfuscation, don't understand how those companies can turn over billions of dollars without as much as proper book keeping. There was simply no balance sheet that they could produce, when they needed a bailout they send a cobbled excel sheet around (the FT published it). Shocking.
Tether balls deep into this, they will be the next to fall. I do not understand how the major coins are still holding up, I think we are just before the total collapse of crypto.
I am not short at the moment as I don't trade on crypto exchanges and the CME futures are trading at a massive discount to spot. Was nice when I closed my short last week at -$800 discount, but won't sell at -$300 now. Just watching for the moment.
Buckle up.
Someone who lies about the little things will lie about the big things too.
Rumours he was in bed with Gensler, re 'regulation'
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Cool
I look at the price each morning when eating my breakfast expecting it to be zero ... maybe tomorrow ...
I'm guessing that SBF won't be calling MJS in as a character witness then.
Someone who lies about the little things will lie about the big things too.
Gambled a bag of sand in Blockchain ETF (KOIP) today.
It’s down nearly 80% this year even in GBP terms, so only another 20% to go.
Topped up my BTC, SOL bags yesterday. SOL at $12 seemed a good price to me. I also think we’ll look back on buying a whole BTC for £13,500 as a bargain.
Who knows! Bitcoin is certainly not going to zero. It may well drop back down a long way one day, but it won’t/can’t go to zero unless all the computers are switched off.
Last edited by mr noble; 16th November 2022 at 13:57.
Genesis bankrupt, another milestone on the inevitable journey to zero. What does that mean for Grayscale...?
Someone who lies about the little things will lie about the big things too.
According to Coindesk it is only the lending arm which is (currently) affected.
Probably best ask Cathie. Though she reportedly seems to share a similar outlook to our esteemed fellow forum member Mr Noble.
Chasing a market down searching for the bottom is a very risk / desperate play ... it is not for me.
This is true, it could go to $0.0001 like Terra Classic but at least it will never go to zero.
Given there can only ever be about 15 million bitcoins available to buy, I can’t see the price ever going below $10to $100.
There will always be people willing to buy a whole BTC for that amount, even if it’s just for fun.
As long as the validators and nodes are connected to the network, the price will never go to anywhere near zero.
The fun in buying things just for fun doesn't last very long. Nobody will buy a BTC just because it was once worth 60k, otherwise shares of failed businesses would have a value.
What's the value of a share of Enron or Wirecard?
Someone who lies about the little things will lie about the big things too.
It's always only the lending arm until it's also the rest.
Yes, she is good at buying things that are in freefall. To be determined how good she is at selling those things for a profit. So far her track record is dismal.
Someone who lies about the little things will lie about the big things too.
I appreciate your point, but *shares* in Enron and Wirecard didn’t have a global cult following.
Both of those shares did go to zero as they ceased trading, my point is just that Bitcoin cannot ever go to zero as it won’t ever cease trading, unless all the exchanges and terminals are switched off.
If Enron and Wirecard didn't have a global cult following, they would have never gotten to where they got.
Anything without utility will eventually go to zero. Just wait.
Someone who lies about the little things will lie about the big things too.
I'll happily admit I don't understand the whole bitcoin thing but surely to have a value you need both a buyer and seller to create a market. If there are no buyers then presumably at some point the market ends ?? Or are crypto currency different to what I recognise as traditional investments
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