OT: Lets talk about stocks (Part 3)

[waffledave]

THE BIGGEST BLACK SWAN EVENT IN CRYPTO HISTORY.

It will be years before another bull run. Holy jesus f***.

 

[SOLR]

THE BIGGEST BLACK SWAN EVENT IN CRYPTO HISTORY.

It will be years before another bull run. Holy jesus f***.

Years? uhhh

Stock Market is so beat up be 4 to 5 years before it gets back to where it was. It was artificially too high S&P500 at $4,800 anyway. Buoyed by 0 interest rates during covid era and slashes to tax rate for super rich during Trump era. Going to take many years to get economy back on

Good buying opportunity then.

 

[waffledave]

Years? uhhh

Confidence is badly shaken. Tom Brady lost 600 million. Absolute craziness.

 

[HuGort]

Confidence is badly shaken. Tom Brady lost 600 million. Absolute craziness.

Is this true?

 

[SOLR]

Confidence is badly shaken. Tom Brady lost 600 million. Absolute craziness.

There is nothing new with the risk of exchanges, if you invest in Crypto you have to be your own bank. That's why I'm doubtful about the confidence part - confidence in exchanges should not have existed to begin with. Particularly with 600 millions lol.

 

[Hope Of Glory]

Last year people we're sure we were going to hit 100k$ for bitcoin. Now they're sure there won't be a bull run for years. So does that mean there will be a bull run in a few weeks?

Just kidding of course, this is a wild ride. Will be fun to see where this goes, there's no way to know it will ever reach those peaks again.

 

[Perrah]

Is this true?

He and his ex-wife were invested in FTX very early for certain.

 

[Perrah]

There is nothing new with the risk of exchanges, if you invest in Crypto you have to be your own bank. That's why I'm doubtful about the confidence part - confidence in exchanges should not have existed to begin with. Particularly with 600 millions lol.

Wasn't the rub all this time around that it was being accepted by governments and institutional money was flowing in so it was supposed to be safer and instill more confidence. I think this one is a bigger blow to mainstream and confidence than the 2018 crash, but I have been wrong and will be wrong again in the future.

 

[waffledave]

USDT depeg now. Black swan event.

Alameda shorting USDT to try and take the whole f***ing thing down on the way out.

 

[waffledave]

Is this true?

Brady and his wife invested $650m into FTX.

 

[SOLR]

Brady and his wife invested $650m into FTX.

More like 100m and then it became worth 650m, back to 0

 

[HuGort]

Brady and his wife invested $650m into FTX.

Lost it all?

 

[waffledave]

Lost it all?

They are insolvent. Nobody can get their money out.


Also looks like SBF was arrested.

 

[HuGort]

They are insolvent. Nobody can get their money out.


Also looks like SBF was arrested.

He should know better than put 650 million into crypto. Too risky

 

[SOLR]

He should know better than put 650 million into crypto. Too risky

He didn't. He invested $89m in FTX, the company, not sure if was also holding Bitcoins in FTX itself.

The value of these shares went to 650 million from $89m - it's a business failure.

Brady is still worth $250m+ and more to come. I won't cry for him tonight haha.

 

[BehindTheTimes]

Confidence is badly shaken. Tom Brady lost 600 million. Absolute craziness.

Won’t be years. Well it may be due to other reasons, but not because of this. We will see how long it takes for the markets to rebound.

I don’t see this as much of a game changer.

Last year people we're sure we were going to hit 100k$ for bitcoin. Now they're sure there won't be a bull run for years. So does that mean there will be a bull run in a few weeks?

Just kidding of course, this is a wild ride. Will be fun to see where this goes, there's no way to know it will ever reach those peaks again.

History is on bitcoins side. It will reach those peaks again and it won’t be that long before doing so imo.

 

[BehindTheTimes]

USDT depeg now. Black swan event.

Alameda shorting USDT to try and take the whole f***ing thing down on the way out.

Settle down lol

 

[waffledave]

Settle down lol

In the end Alameda's USDT account was frozen by law enforcement, so most likely what happened is SBF was tipped off, hence the transfer to USDC.

Today FTX group filed for bankruptcy, so that's going to have some ripple effects for sure.

There are 130+ companies under the FTX umbrella. Anyone with money in any of them is shit out of luck.

The big surprise (well, shouldn't be) is that FTX US was included in that. Just yesterday, FTX US users were assured that they are completely separate from FTX and that user deposits were safe. Today, they lose everything.

Very tough day for crypto.

 

[Non Player Canadiens]

it's a scammmmmmm

why do people keep falling for this

 

[waffledave]

it's a scammmmmmm

why do people keep falling for this

There are massive scams in the stock market all the time. People still invest in stocks.

 

[Non Player Canadiens]

There are massive scams in the stock market all the time. People still invest in stocks.

you're right. crypto is the traditional stock market's worst aspects on steroids.

difference is, stock market = there are some scams (Enron comes to mind in 2001). crypto = they're all scams, and pretty transparently too.

 

[HuGort]

In the end Alameda's USDT account was frozen by law enforcement, so most likely what happened is SBF was tipped off, hence the transfer to USDC.

Today FTX group filed for bankruptcy, so that's going to have some ripple effects for sure.

There are 130+ companies under the FTX umbrella. Anyone with money in any of them is shit out of luck.

The big surprise (well, shouldn't be) is that FTX US was included in that. Just yesterday, FTX US users were assured that they are completely separate from FTX and that user deposits were safe. Today, they lose everything.

Very tough day for crypto.

I had money in Bitcoin. Took it out a year ago. It wasn't acting right.

 

[waffledave]

you're right. crypto is the traditional stock market's worst aspects on steroids.

difference is, stock market = there are some scams (Enron comes to mind in 2001). crypto = they're all scams, and pretty transparently too.

How are they scams?

 

[BehindTheTimes]

In the end Alameda's USDT account was frozen by law enforcement, so most likely what happened is SBF was tipped off, hence the transfer to USDC.

Today FTX group filed for bankruptcy, so that's going to have some ripple effects for sure.

There are 130+ companies under the FTX umbrella. Anyone with money in any of them is shit out of luck.

The big surprise (well, shouldn't be) is that FTX US was included in that. Just yesterday, FTX US users were assured that they are completely separate from FTX and that user deposits were safe. Today, they lose everything.

Very tough day for crypto.

In the end I think it’s a small blip. Lots of users getting scammed all of the time. From Finalmente to FTX. Get your damn coins off the exchanges.

 

[Non Player Canadiens]

How are they scams?

are you not familiar with rug pulls?

Crypto-sceptic Molly White could be the new JK Galbraith… just much tougher | John Naughton

This remarkable young woman is the sharpest critic of crypto on the web - and predictably, the trolls are after her

www.theguardian.com

Worldwide crypto & NFT rug pulls and scams tracker - Comparitech

The crypto world is reported to be worth over $3 trillion with over 300 million people worldwide owning some form of crypto. But as our cryptocurrency and NFT heist trackers have found, crypto is a lucrative business for hackers. These trackers don’t account for insider jobs and scams (e.g...

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c'mon man I'm sure you are. and now you've got the latest meltdown from the guy who was perceived as the brightest mind in crypto, engaging in shady practices just like everyone else, causing another wipeout in the order of billions.

big and small, they're all scams.