I just bought $200,000 of Bitcoin

[happydreamer]

2 hours ago, Sametboy2019 said:

Its all part of the plan! We are on the precipice of adoption of blockchain and they want as much people out as possible.

Nobody in their right mind would be investing now but as they say "He who dares wins"

Interesting perspective.  Why do you think they would want people out?

[Sametboy2019]

7 hours ago, happydreamer said:

Interesting perspective.  Why do you think they would want people out?

Because the first shift will happen in banking. The petro dollar game is almost up. With a new financial system comes a massive transfer of wealth. Mega wealthy dont want anybody else being wealthy....they just want more!

 

I feel there is a whole lot of pain still to come though. DYOR and buy some coins.....stick it on a ledger and come back in 3 years!

 

[Sametboy2019]

On 11/13/2022 at 11:40 PM, aldriglikvid said:

Bitcoin keeps falling today (as it did yesterday, and the day before) and even more crypto-exchanges are exploding in realtime. People are starting to realize it's all a ponzi. Be safe and stay out of made-up internet-money. 

 

https://www.forbes.com/sites/billybambrough/2022/11/13/stay-away-binance-ceo-issues-serious-warning-over-another-crypto-exchange-after-ftx-collapse-crashed-the-price-of-bitcoin-and-ethereum/?sh=150c4798793a

Yes this is all part of the process. The space has been built on a foundation of sand. I feel there is much more pain to come. Then in steps regulations and most crypto goes away.

Invest wisely!

[nauseus]

On 11/12/2022 at 3:05 PM, aldriglikvid said:

What's the value, then? It is down the toilet YTD -72%. But, you know that before it happened - right? 

72%???

[happydreamer]

2 hours ago, Sametboy2019 said:

Because the first shift will happen in banking. The petro dollar game is almost up. With a new financial system comes a massive transfer of wealth. Mega wealthy dont want anybody else being wealthy....they just want more!

 

I feel there is a whole lot of pain still to come though. DYOR and buy some coins.....stick it on a ledger and come back in 3 years!

technical 

Ya I agree with most of what you're saying here.  Definitely has a long way to go before it has a chance to actually replace fiat.  As of right now its a crappy substitute with far too many technicalities for the average non-technical person over 40 to understand.   I used to think the idea of decentralized currency was good but the recent events and how brazen the people running these businesses are has really turned me off to the idea.  Its like a new level of distrust.  if one doesn't trust their  politicians thats one thing but if you can't trust the people who are custodians of the basis of your wealth...thats not really a world I wanna live in.

Im continuing to accrue passively thru the rewards programs on my credit cards but I'm done with staking and exchanges.  Not worth it.

 

Best of luck...hope you make some good choices ????

[Hummin]

17 minutes ago, happydreamer said:

Ya I agree with most of what you're saying here.  Definitely has a long way to go before it has a chance to actually replace fiat.  As of right now its a crappy substitute with far too many technicalities for the average non-technical person over 40 to understand.   I used to think the idea of decentralized currency was good but the recent events and how brazen the people running these businesses are has really turned me off to the idea.  Its like a new level of distrust.  if one doesn't trust their  politicians thats one thing but if you can't trust the people who are custodians of the basis of your wealth...thats not really a world I wanna live in.

Im continuing to accrue passively thru the rewards programs on my credit cards but I'm done with staking and exchanges.  Not worth it.

 

Best of luck...hope you make some good choices ????

Bitcoin is not going to replace fiat, Im positive it will never happen. A dream for someone, but no, sorry, there is to many reasons to why that is not happening. 

 

3 out of 4 lost money on bitcoin a Bangkok newspaper says today, and a few other international medias.

 

No wonder why so many btc preachers living on strict budget these days.

[happydreamer]

6 minutes ago, Hummin said:

Bitcoin is not going to replace fiat, Im positive it will never happen. A dream for someone, but no, sorry, there is to many reasons to why that is not happening. 

 

3 out of 4 lost money on bitcoin a Bangkok newspaper says today, and a few other international medias.

 

No wonder why so many btc preachers living on strict budget these days.

Im not going to say never, and maybe to wont be BTC but there may be something else that developed over time....some sort of other digital representation of money.  We're halfway to there already.  I mean outside of living here...how many times in your home country did you actually see the money you earn.  Most of what I saw were numbers on a screen and the ability to scan or swipe a card at a POS terminal.  

 

If it's at the point where someone has had to tighten their belts because of the crypto crunch, they made a wrong turn way back before any of this happened.

[Sametboy2019]

26 minutes ago, happydreamer said:

Ya I agree with most of what you're saying here.  Definitely has a long way to go before it has a chance to actually replace fiat.  As of right now its a crappy substitute with far too many technicalities for the average non-technical person over 40 to understand.   I used to think the idea of decentralized currency was good but the recent events and how brazen the people running these businesses are has really turned me off to the idea.  Its like a new level of distrust.  if one doesn't trust their  politicians thats one thing but if you can't trust the people who are custodians of the basis of your wealth...thats not really a world I wanna live in.

Im continuing to accrue passively thru the rewards programs on my credit cards but I'm done with staking and exchanges.  Not worth it.

 

Best of luck...hope you make some good choices ????

I dont believe it replaces fiat. CBDC's are coming. People get scared about this but it doesnt have to be like China. Its like all technology...it can be used for good or bad. The most worrying thing is being switched off but even if physical money was obsolete we would find a way to trade with each other.

 

Decentralized currency isnt a issue, its who you choose to be the custodian. Always store your stuff on a cold wallet. Remember that banks arent clean either (2008). They basically take your money and invest it. If everyone went and tried to take their money from their banks we would see its not there just like these crypto exchanges.

 

[Hummin]

9 minutes ago, happydreamer said:

Im not going to say never, and maybe to wont be BTC but there may be something else that developed over time....some sort of other digital representation of money.  We're halfway to there already.  I mean outside of living here...how many times in your home country did you actually see the money you earn.  Most of what I saw were numbers on a screen and the ability to scan or swipe a card at a POS terminal.  

 

If it's at the point where someone has had to tighten their belts because of the crypto crunch, they made a wrong turn way back before any of this happened.

Something will finely replace the system we have today, but one thing for sure, it is not going to be anything decentralized like btc where no one knows who created it, and for what purposes.

 

[lkn]

2 hours ago, Sametboy2019 said:

CBDC's are coming

I’m not so sure about that. Reports from people tasked with looking into this basically asks: “what problem are we trying to solve?”.

 

The best answer I have seen is to get rid of “private money”, but it’s questionable if we actually want this. There was The Narrow Bank which was basically a proxy for depositing your money directly with The Federal Reserve (which CBDC would be), but they were not granted a banking license, exactly because credit does play an important role in society.

 

And to quote another poster:

 

2 hours ago, happydreamer said:

some sort of other digital representation of money.  We're halfway to there already.  I mean outside of living here...how many times in your home country did you actually see the money you earn

Exactly, except, we’re not halfway there, we are there! Many countries have been there for at least a decade, in Europe I can move my money between my account with Interactive Brokers (Hungary), Wise (Belgium), and Revolut (Lithuania) instantly and free of charge (with some restrictions).

 

I am not saying that digital money cannot be improved, but this is mostly a regulatory thing, i.e. they want to ensure the KYC/AML stuff and also consumer protection for people who spend money digitally / online.

 

Crypto, compared to what we already have, is a giant step back, and no, it’s not because we are still early. Crypto has to solve problems that money with central authorities does not have to solve, and the price for solving them is high.

 

If you disagree with the current policies, e.g. about requirements for accepting payments online, then yes, crypto solves a problem, but the problem here is then “how to avoid regulation”, it is not a technical problem per se.

Edited November 15, 2022 by lkn

[lkn]

2 hours ago, Hummin said:

Bitcoin is not going to replace fiat, Im positive it will never happen. A dream for someone, but no, sorry, there is to many reasons to why that is not happening. 

The simplest being that we all have to pay taxes to our government, and most governments do not want to accept these in a currency controlled by an algorithm and that can be manipulated by whales and/or opaque offshore exchanges.

 

Note though that this is not because they want to control it themselves. For example most governments in Europe have pretty much no control over how “their” currency is controlled. It is controlled by ECB which is a non-political institution with a mandate to ensure price stability.

[Sametboy2019]

36 minutes ago, lkn said:

I’m not so sure about that. Reports from people tasked with looking into this basically asks: “what problem are we trying to solve?”.

 

The best answer I have seen is to get rid of “private money”, but it’s questionable if we actually want this. There was The Narrow Bank which was basically a proxy for depositing your money directly with The Federal Reserve (which CBDC would be), but they were not granted a banking license, exactly because credit does play an important role in society.

 

And to quote another poster:

 

Exactly, except, we’re not halfway there, we are there! Many countries have been there for at least a decade, in Europe I can move my money between my account with Interactive Brokers (Hungary), Wise (Belgium), and Revolut (Lithuania) instantly and free of charge (with some restrictions).

 

I am not saying that digital money cannot be improved, but this is mostly a regulatory thing, i.e. they want to ensure the KYC/AML stuff and also consumer protection for people who spend money digitally / online.

 

Crypto, compared to what we already have, is a giant step back, and no, it’s not because we are still early. Crypto has to solve problems that money with central authorities does not have to solve, and the price for solving them is high.

 

If you disagree with the current policies, e.g. about requirements for accepting payments online, then yes, crypto solves a problem, but the problem here is then “how to avoid regulation”, it is not a technical problem per se.

Yes agreed. 

Your most interesting statement:

Crypto, compared to what we already have, is a giant step back, and no, it’s not because we are still early. Crypto has to solve problems that money with central authorities does not have to solve, and the price for solving them is high

 

There are many situations that blockchain/crypto can solve and is definitely not a step back in.

Two that come to mind are. One is finance. The current swift system is archaic and there are payment systems like wise or xe but none of these solve the issue with moving huge amounts of money like swift or cips which need nostro/vostro accounts to cover the payments.

Another is logistics where blockchain can reduce bureaucracy and paperwork. 

Actually almost all sectors can be improved with blockchain. 

[lkn]

30 minutes ago, Sametboy2019 said:

One is finance. The current swift system is archaic and there are payment systems like wise or xe but none of these solve the issue with moving huge amounts of money like swift or cips which need nostro/vostro accounts to cover the payments

The problem here is that the banking system is fragmented, do you agree? I.e. does my small savings bank have nostro/vostro accounts with your small savings bank in another country? If not, we have to go through an intermediary, and that add delays and fees.

 

How does blockchain solve that? By having all banks just use the blockchain, right? But then the real solution here is just to have all banks “use the same system”. This is no different than how we already solved the problem in Europe: By having all banks go via ECB. So all banks in the European Monetary Zone can do instant transfers 24/7 between each other, because they are all connected to the same system (ECB).

 

The U.S. has been pretty slow, but I think they now have a similar system where all U.S. banks can now do instant transfers among each other.

 

So to be clear here, blockchain is not the solution, moving everyone to the same system is the solution. People think that blockchain is a solution because “we can already do it with blockchain”, but really, we cannot, we have to go through multiple third parties and end up paying lots of fees, it is way less efficient than something like Wise or SEPA Instant Payments, and it does not connect more institutions (where you have your money) than the former.

 

Also, you have to remember the regulatory requirements. Not just KYC/AML, but also consumer protection, e.g. when Citibank accidentally sends $500 million to the wrong account, there needs to be recourse.

 

30 minutes ago, Sametboy2019 said:

Another is logistics where blockchain can reduce bureaucracy and paperwork. 

How?

Edited November 15, 2022 by lkn

[KhunLA]

OUCH ... down 59+%

Edited November 15, 2022 by KhunLA

[happydreamer]

3 hours ago, lkn said:

I’m not so sure about that. Reports from people tasked with looking into this basically asks: “what problem are we trying to solve?”.

 

The best answer I have seen is to get rid of “private money”, but it’s questionable if we actually want this. There was The Narrow Bank which was basically a proxy for depositing your money directly with The Federal Reserve (which CBDC would be), but they were not granted a banking license, exactly because credit does play an important role in society.

 

And to quote another poster:

 

Exactly, except, we’re not halfway there, we are there! Many countries have been there for at least a decade, in Europe I can move my money between my account with Interactive Brokers (Hungary), Wise (Belgium), and Revolut (Lithuania) instantly and free of charge (with some restrictions).

 

I am not saying that digital money cannot be improved, but this is mostly a regulatory thing, i.e. they want to ensure the KYC/AML stuff and also consumer protection for people who spend money digitally / online.

 

Crypto, compared to what we already have, is a giant step back, and no, it’s not because we are still early. Crypto has to solve problems that money with central authorities does not have to solve, and the price for solving them is high.

 

If you disagree with the current policies, e.g. about requirements for accepting payments online, then yes, crypto solves a problem, but the problem here is then “how to avoid regulation”, it is not a technical problem per se.

I agree with you on this and throughout the course of this year have been forced to really think about what it is that crypto is solving at this point...and mind you I'm a supporter of crypto and do believe it has a future.  However, this year has kicked the whole industry in the face and turned it into something very unstable.

You're right about digital money, I can literally Wise my Thai bank currency from my US Banks and depending on the amount have the money in literally seconds.  

 

[Neeranam]

On 11/14/2022 at 8:45 PM, Walker88 said:

Second point....people are equating Blockchain with btc. Blaockchain is a possible useful technology upon which btc sits.

Only the ignorant. 

 

[Mac Mickmanus]

4 hours ago, happydreamer said:

I agree with you on this and throughout the course of this year have been forced to really think about what it is that crypto is solving at this point

 

You can buy illegal things without the authorities being able to trace you through bank records

[lkn]

17 minutes ago, Mac Mickmanus said:

You can buy illegal things without the authorities being able to trace you through bank records

Instead they trace you through the blockchain. If you ever interact with an exchange that does KYC (pretty much all of them these days), orders something that requires a shipping address, or sends money to someone who knows your identity, pretty much all your money is tainted and whatever you later do with this money, people can trace back the history and find out who you are.

 

I don’t think regular people realize just how hard it is to transact completely anonymously with these tokens.

 

Have a look at just how many clues the authorities found regarding the identity of the alleged Bitfinex hackers.

[Hummin]

1 hour ago, Mac Mickmanus said:

You can buy illegal things without the authorities being able to trace you through bank records

Thats not completely true, and maybe the main reason btc was created, to let people believe it is a safe black marked transaction using btc. Cia have made apps before to control criminals and terrorists. 

[Sametboy2019]

8 hours ago, lkn said:

The problem here is that the banking system is fragmented, do you agree? I.e. does my small savings bank have nostro/vostro accounts with your small savings bank in another country? If not, we have to go through an intermediary, and that add delays and fees.

 

How does blockchain solve that? By having all banks just use the blockchain, right? But then the real solution here is just to have all banks “use the same system”. This is no different than how we already solved the problem in Europe: By having all banks go via ECB. So all banks in the European Monetary Zone can do instant transfers 24/7 between each other, because they are all connected to the same system (ECB).

 

The U.S. has been pretty slow, but I think they now have a similar system where all U.S. banks can now do instant transfers among each other.

 

So to be clear here, blockchain is not the solution, moving everyone to the same system is the solution. People think that blockchain is a solution because “we can already do it with blockchain”, but really, we cannot, we have to go through multiple third parties and end up paying lots of fees, it is way less efficient than something like Wise or SEPA Instant Payments, and it does not connect more institutions (where you have your money) than the former.

 

Also, you have to remember the regulatory requirements. Not just KYC/AML, but also consumer protection, e.g. when Citibank accidentally sends $500 million to the wrong account, there needs to be recourse.

 

How?

But then the real solution here is just to have all banks “use the same system”

 

Yes i believe moving to one system is the future. It Doesnt matter what the currency is its what is behind it! 

Euro banks moving to each other is obvious as the currency is the same. Why would it not be instant?

 

Now BRICS are recruiting new countries and they are circumnavigating swift with their own system. An old institution that connected the World in payments will need to adapt. Looks like the iso20022 messaging system will assist in that. A few cryptos out there have alleged partnerships. 

 

“we can already do it with blockchain”, but really, we cannot, we have to go through multiple third parties and end up paying lots of fees

 

Who are the multiple parties? and what fees are you paying?

I have money in my bank and i send it to my exchange. I then buy crypto (fees depend on exchange) and then i send it to my ledger. Unless your buying BTC or any ETH coins then transfer fees are almost nothing.

Also most blockchain is open source so anybody with some knowledge can make something on it.

 

Regulations are coming for sure. I still think something worse is lurking out there for the market in general!

[Neeranam]

11 hours ago, Sametboy2019 said:

But then the real solution here is just to have all banks “use the same system”

 

Yes i believe moving to one system is the future. It Doesnt matter what the currency is its what is behind it! 

Euro banks moving to each other is obvious as the currency is the same. Why would it not be instant?

 

Now BRICS are recruiting new countries and they are circumnavigating swift with their own system. An old institution that connected the World in payments will need to adapt. Looks like the iso20022 messaging system will assist in that. A few cryptos out there have alleged partnerships. 

 

“we can already do it with blockchain”, but really, we cannot, we have to go through multiple third parties and end up paying lots of fees

 

Who are the multiple parties? and what fees are you paying?

I have money in my bank and i send it to my exchange. I then buy crypto (fees depend on exchange) and then i send it to my ledger. Unless your buying BTC or any ETH coins then transfer fees are almost nothing.

Also most blockchain is open source so anybody with some knowledge can make something on it.

 

Regulations are coming for sure. I still think something worse is lurking out there for the market in general!

Cross border payments use a great technology, developed in the 1970s, called Swift. 

If I make a transaction to my family in Scotland, it takes 10 days to arrive and costs only $20. 

Nowadays, I send BTC to my mother, it arrives around 20 minutes after I send it and costs $2.

SCB, the largest in Thailand used XRP in a corridor to Japan, where Thais working in Japan could transfer money using the blockchain in 2 seconds for maybe 5 baht. 

Mexico also uses XRP in a corridor with the USA. The banks obviously don't likethis and are fighting for their lives to create FUD regarding cross border payments using crypto, and moreso about DeFi. Blockchain is the future and those predictable haters saying that crypto has no utility are tiresome. 

I've seen it twice before with BTC; those haters who missed out try to justify their not buying it cheap by waiting until the end of the bull run and subsequent bear market to come and spread FUD, cherry picking numbers from 1 year ago. EXACTLY the same criticisms as when BTC went to $200 in Jan 2015, $3,500 in Jan 2019, or $3,500 in March 2020. The same haters will be here, mark my words, in 2026 when BTC has crashed to $50,000. I have no idea why they can't learn from their error of not buying BTC, and actually buy now, or at least DCA in at $17k. 

[Sametboy2019]

3 hours ago, Neeranam said:

Cross border payments use a great technology, developed in the 1970s, called Swift. 

If I make a transaction to my family in Scotland, it takes 10 days to arrive and costs only $20. 

Nowadays, I send BTC to my mother, it arrives around 20 minutes after I send it and costs $2.

SCB, the largest in Thailand used XRP in a corridor to Japan, where Thais working in Japan could transfer money using the blockchain in 2 seconds for maybe 5 baht. 

Mexico also uses XRP in a corridor with the USA. The banks obviously don't likethis and are fighting for their lives to create FUD regarding cross border payments using crypto, and moreso about DeFi. Blockchain is the future and those predictable haters saying that crypto has no utility are tiresome. 

I've seen it twice before with BTC; those haters who missed out try to justify their not buying it cheap by waiting until the end of the bull run and subsequent bear market to come and spread FUD, cherry picking numbers from 1 year ago. EXACTLY the same criticisms as when BTC went to $200 in Jan 2015, $3,500 in Jan 2019, or $3,500 in March 2020. The same haters will be here, mark my words, in 2026 when BTC has crashed to $50,000. I have no idea why they can't learn from their error of not buying BTC, and actually buy now, or at least DCA in at $17k. 

Agree with everything you say. Im not on the BTC boat though. I dont see any utility in it and maybe the best gains have already been had but thats just my opinion. 

XRP has the ability to be a real game changer and maybe after this lawsuit finishes we will see some serious adoption. 

This interview clip sums it up nicely

 

[lkn]

4 hours ago, Sametboy2019 said:

This interview clip sums it up nicely

Classic con man. Notice how the interviewer ask a real question about how this will affect someone like J.P. Morgan, i.e. what will the “competition” (XRP/crypto) do better/faster/cheaper, that will cause J.P. Morgan to lose customers/marketshare.

 

And then a complete non-answer, because this guy has no answer!

 

You will find this again and again, I see above you quoted @Neeranamclaiming it takes 5 days and costs $20 to send money to Scotland. So I wonder, if I can teach him how he can send money to Scotland instantly and free of charge, does that make crypto useless?

 

Anyway, it’s really all very simple: A system with tens of thousands of computers constantly working to validate the same transactions (giving it an extremely limited throughput) will never be cheaper or faster than a smaller network of a few trusted nodes, you shouldn’t need to be a computer science genius to understand that.

 

As for XRP, the idea here I think is more to provide an intermediary currency (rather than provide a payment network, although I know they also have such a thing). But USD is already used to solve this problem, but I guess some people will rather trust some founder of a tech startup than the Federal Reserve.

[Sametboy2019]

13 hours ago, lkn said:

Classic con man. Notice how the interviewer ask a real question about how this will affect someone like J.P. Morgan, i.e. what will the “competition” (XRP/crypto) do better/faster/cheaper, that will cause J.P. Morgan to lose customers/marketshare.

 

And then a complete non-answer, because this guy has no answer!

 

You will find this again and again, I see above you quoted @Neeranamclaiming it takes 5 days and costs $20 to send money to Scotland. So I wonder, if I can teach him how he can send money to Scotland instantly and free of charge, does that make crypto useless?

 

Anyway, it’s really all very simple: A system with tens of thousands of computers constantly working to validate the same transactions (giving it an extremely limited throughput) will never be cheaper or faster than a smaller network of a few trusted nodes, you shouldn’t need to be a computer science genius to understand that.

 

As for XRP, the idea here I think is more to provide an intermediary currency (rather than provide a payment network, although I know they also have such a thing). But USD is already used to solve this problem, but I guess some people will rather trust some founder of a tech startup than the Federal Reserve.

Sorry i must of heard a different answer to you. He asked the question and Draper's answer was overall scenario rather than direct but then Gensler butts in and gets to the point quicker than Draper by saying "Then they adopt the technology"!

The example of tens of thousands of computers v the smaller network is only valid if the tech is the same but using a older system thats is more energy consuming  v a newer greener tech make that argument invalid.

Also the system now is swift  so that is not faster or cheaper than any crypto/blockchain. If you are talking about systems like Wise i get what your saying but im talking from a wholesale point of view not retail. Wise isnt going to take a payment of trillions of dollars like Swift does. Wise is a P2P payment system.

 

The Federal Reserve are arguably the biggest criminals on the planet.

The initial argument about sending money is correct. I dont know why anybody would use swift to send smaller amounts of money but many people still do through lack of knowledge.

XRP is primarily a settlement system. The ability to exchange in 4 second and for a fraction of a penny. Now with a wholesale CBDC we see a system for banks to move the money they move each day through swift to be moved using XRP (Ripples patented ODL technology) eliminating the need for Nostro/Vostro accounts.

Im not sure that retail will see this technology given to us yet as im sure the banks would like to keep robbing the middle and working class for a few more years.

 

This all might tie in with the implementation of ISO2022 from Nov 2022 ending with full implementation by the end of 2025.

 

Why banks are moving to ISO 20022?

Financial institutions are increasingly adopting ISO 20022
With structure and dedicated fields for payment details, the formatting standard creates communication efficiency. Rather than managing multiple market systems that speak different languages, ISO 20022 offers a universal messaging language.

 

 

[lkn]

6 hours ago, Sametboy2019 said:

Sorry i must of heard a different answer to you

Then please quote that answer. The question was: What can crypto/blockchain do faster/cheaper than J.P. Morgan.

 

6 hours ago, Sametboy2019 said:

The example of tens of thousands of computers v the smaller network is only valid if the tech is the same

Bitcoin does 3-4 transactions per second, and that is a technical limitation. MasterCard does around 5,000 and has never had a congestion issue, i.e. they can scale it based on demand, Bitcoin has regularly seen congestion, and in turn, high transaction fees.

 

Also, SWIFT is a messaging system, it does not move money, it ensures that banks can communicate in a secure and authenticated way. Banks are introducing delays, e.g. a bank may flag all payments above $10,000 and/or which goes to certain countries, and require manual verification of these before they are processed. They might even be required to do some of this due to regulation.

 

6 hours ago, Sametboy2019 said:

The Federal Reserve are arguably the biggest criminals on the planet

I think it is pointless to continue this thread if this is where you’re coming from.

[Celsius]

If Fed and banks are the biggest criminals then why crypto depends so much on them...

 

Maybe because they are even bigger criminals and Ponzi?

 

 

Oopsie

 

https://www.wsj.com/livecoverage/stock-market-news-today-11-17-2022/card/crypto-lender-genesis-sought-emergency-loan-of-1-billion-by-monday-573TThK17Ke15FYwJzLR

[PPGuy]

8 hours ago, Celsius said:

If Fed and banks are the biggest criminals then why crypto depends so much on them...

 

Maybe because they are even bigger criminals and Ponzi?

 

 

Oopsie

 

https://www.wsj.com/livecoverage/stock-market-news-today-11-17-2022/card/crypto-lender-genesis-sought-emergency-loan-of-1-billion-by-monday-573TThK17Ke15FYwJzLR

Seems that even the 'billionaire' Winklevoss twins are feeling the heat. It may just affect only part of their crypto empire (Genesis Earn) but this may suggest a wider issue.

https://www.thestartmagazine.com/article/f0486b2e-8f99-206d-073f-2843c9f6d17d?ref=TmV0RGFuaWFfV2ViJSQldGNPSVhvWWVzb3F6bVhuYnluVnhTdVF0UlhQSDlQVHQlJCUxMzU3OTg2NDI=&category=48&language=en&recommendationId=TIME_BL

[Pmbkk]

 

Shows how bad the governance is under these companies :

 

New FTX chief says crypto group’s lack of control worse than Enron:

 

https://www.ft.com/content/7e81ed85-8849-4070-a4e4-450195df08d7

[Neeranam]

I've always said, due to chart analysis, that the BTC low is January 2023. One of the better commentators believes the BTC low could be in already. 

if you are not buying BTC now, why? It's incredible but often uneducated people are likely to buy during a bull market but not a bear market.

 

[ozimoron]

BTC is still 3 times what it was worth 2 years ago. Asset values are going to crash below what they were then.