LatinAggie1997 said:

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TxAG#2011 said:

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LatinAggie1997 said:

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Dig deep into Cardano and Algorand.

It is plausible that in the near future BTC will be operating on one of those blockchains ( Cardano 70% likely/30% Algo).

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No, it's not possible. Not even 0.0001%. Even if it was the best possible option for BTC, it wouldn't happen. Laughable to even suggest it's plausible.

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That's right, because Cardano is a ghost chain created by a snake oil salesman....right???

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If Charles is involved, he's as snake oil as it gets.

Whirligigs said:

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LatinAggie1997 said:

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TxAG#2011 said:

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LatinAggie1997 said:

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Dig deep into Cardano and Algorand.

It is plausible that in the near future BTC will be operating on one of those blockchains ( Cardano 70% likely/30% Algo).

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No, it's not possible. Not even 0.0001%. Even if it was the best possible option for BTC, it wouldn't happen. Laughable to even suggest it's plausible.

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That's right, because Cardano is a ghost chain created by a snake oil salesman....right???

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If Charles is involved, he's as snake oil as it gets.

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ETH sucks. Sol sucks !!!!!
Did I do that right ?

BlockFi, come on down!

another collapse coming RIGHT NOW.

Blockfi halts trading after Binance freezes their assets

https://www.bloomberg.com/news/articles/2022-11-11/blockfi-pauses-withdrawals-says-can-no-longer-operate-as-usual

Whirligigs said:

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Sam has mentioned he's sorry and f'ed up. It's all good.

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ac04 said:

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it is a scam, but so is real ETH so i wouldn't worry too much about it. looks like right now cbETH is trading at about a 3.5% discount to ETH. so if you want out, wrap it and eat the 3.5% then trade it for BTC. fairly cheap tuition to the school of avoiding BS like this in the future.

also i would definitely stop telling people how much BTC/ETH you have, where you buy it, how you store it, etc.

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thanks for the advice, I am sending you a PM

FTX
Bankrupt

AIG type contagion
When all the leverage is one asset or asset class and a slow trickle of liquidations can turn into tidal wave

Ok. I have to ask. Why are so many people duped by these millennial "wunderkids"? I am just digging into all of this FTX stuff. The answers he and his Alameda CEO gave in interviews over the last few years are like taking a red flag, dipping it kerosene, and lighting with a flamethrower.

FTX.

Also a company that big not using a big 4 accounting firm. The big 4 can be duped. But the smaller guys picking up a massive piece of business can absolutely get steamrolled.

LMCane said:

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Furlock Bones said:

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Ok. I have to ask. Why are so many people duped by these millennial "wunderkids"? I am just digging into all of this FTX stuff. The answers he and his Alameda CEO gave in interviews over the last few years are like taking a red flag, dipping it kerosene, and lighting with a flamethrower.

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you weren't impressed with his "sorry I f-cked up and I made two main mistakes because I miscalculated a few withdrawals"?!

but yeah, people should be giving billions of dollars to a 30 year old wearing flip flops who told everyone he dreamed of being rich

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I have a finance and trading background. I've learned I know a hell of a lot less than I thought I did.

But listening to a few interviews with this numpties and It just flabbergasts me that these types get massive VC money.

Quote:

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It just flabbergasts me that these types get massive VC money.

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Crypto bros had a lot of capital to spend on each other and rates have been ~0 for about 12 years. Easy money all around

"I'm really sorry, again, that we ended up here.


Hopefully things can find a way to recover. Hopefully this can bring some amount of transparency, trust, and governance to them.

Ultimately hopefully it can be better for customers.

This doesn't necessarily have to mean the end for the companies or their ability to provide value and funds to their customers chiefly, and can be consistent with other routes.

Ultimately I'm optimistic that Mr. Ray and others can help provide whatever is best.

I'm going to work on giving clarity on where things are in terms of user recovery ASAP.

I'm piecing together all of the details, but I was shocked to see things unravel the way they did earlier this week.
I will, soon, write up a more complete post on the play by play, but I want to make sure that I get it right when I do."

Quote:

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companies and tokens they invest in are also on the verge of being liquidated

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this assumes there is a buyer.
Maybe Jimbo. He's always talking about picking up pennies

Larry David was onto something…

Absolute disbelief pic.twitter.com/QjoZrWlz8v

— Howie (@HowieBTC) November 11, 2022

Hoping it is true because many of us don't like Gensler and have been suspicious of his "reach".

Interesting. @GaryGensler runs to the media while reports to my office allege he was helping SBF and FTX work on legal loopholes to obtain a regulatory monopoly. We're looking into this. https://t.co/SznowgcP6V

— Tom Emmer (@RepTomEmmer) November 10, 2022

What does even mean?

tysker said:

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What does even mean?

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SBF is a liberal power hungry zealot. Behind the scenes he was funding many dems and dem objectives. He was also spearheading an initiative that would give him and FTX majority of power and control of crypto in the US. He and dems were pushing a bill for a national bit license which would accomplish the above, plus giv more authority to the government.

Now, people (insiders) are revealing details about multiple nefarious deeds and co-conspirators.

tysker said:

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What does even mean?

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CZ (Binance CEO) insinuated that SBF had been working behind his back to give FTX regulatory advantages over Binance in the US.

SBF had been strongly pushing the DCCPA, which would allow most cryptos to be regulated by the CFTC. That's outside of Gensler's realm. I don't doubt that he and Gensler talked. SBF has talked to just about everyone in DC. But it would be weird if Gensler was trying to help SBF direct power to the CFTC. Doesn't really add up.

The idea that Gensler was entertaining the idea of giving advantages for FTX and their sh*tcoin casino is inconsistent with just about everything he's ever said about "crypto" regulation. If Gensler has been lying this whole time and is a friend to sh*tcoiners like SBF behind the scenes, shame on him. Though I'm suspicious, I'll keep an open mind.

Also worth noting that Emmer has been out to get Gensler for a long time, for a variety of reasons (not just crypto). Not surprising that he's being opportunistic and trying to tag Gensler with as much responsibility for the current meltdown as possible. That's not a knock either. It's what politicians of all stripes do. Emmer is also a good friend to the sh*tcoiners and sees the "crypto" space very differently than Gensler. He's tried to pass legislation in the past to help them avoid startup regulatory burden.

A lot of news will be revealed in coming weeks. Folks will be flipping on SBF to save themselves. Follow the money and see who has been pushing the bill.

ONE Example : 5 million dollars donated to man that appointed Gensler ... Sen Warren daughter intern at SEC, Ellison is dept head of economics at MIT and father to Caroline (CEO Alameda), Gensler was a prof at MIT prior to SEC, ...lots of dots could be connected that paint a picture beyond coincidence .

Edited - both SBF parents are law profs at Stan

I think it's mostly clear that ****coins are securities which would be under SEC jurisdiction and BTC is closer to a currency/commodity and falls under the CFTC purview. CEOs work politicians all the time so working on some regulatory capture is to be expected.

tysker said:

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I think it's mostly clear that ****coins are securities which would be under SEC jurisdiction and BTC is closer to a currency/commodity and falls under the CFTC purview. CEOs work politicians all the time so working on some regulatory capture is to be expected.

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pic.twitter.com/VUxF8HV0A4

— Digital Asset Investor (@digitalassetbuy) November 11, 2022

Likely it is SBF that was moving assets off FTX earlier and using a mixer.

Lithium Finance

Isn't that AggieKatie's employer?

Adverse Event said:

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Absolute disbelief pic.twitter.com/QjoZrWlz8v

— Howie (@HowieBTC) November 11, 2022

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"stop losses aren't great risk management toos"…? Did she really just say that?