Bitcoin Thread

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Wow. By far the most hectic day in the market since the Luna collapse. I'm off to buy some bottles of bubbly. What a day to be in the right trades. I was sweating heavily there for a while!
 
Sensorei said:
Wow. By far the most hectic day in the market since the Luna collapse. I'm off to buy some bottles of bubbly. What a day to be in the right trades.
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I only hope that Binance can acquire FTX without much scrutiny, and I am curious whether the deal will include Almeda Research. FTX is a shinking ship, and that is not good. Regulators must be salivating.

In the case Binance does acquire FTX I can only hope that they let Bankman-Fried go.
 
Fulcrum29 said:
I only hope that Binance can acquire FTX without much scrutiny, and I am curious whether the deal will include Almeda Research. FTX is a shinking ship, and that is not good. Regulators must be salivating.
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Alameda research as FTX's parent company are clearly insolvent and if it wasn't for CZ they would be liquidated. CZ is gigachad smart and knowing this he would maximise his lion's share out this deal. Binance will most likely be taking over Alameda as well but let's see...
 
Sensorei said:
Alameda research as FTX's parent company are clearly insolvent and if it wasn't for CZ they would be liquidated. CZ is gigachad smart and knowing this he would maximise his lion's share out this deal. Binance will most likely be taking over Alameda as well but let's see...
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All I know is, BNB investors love this. It is a rather peculiar swing though... I don't think the crypto ocean will be able to hold all these whales.
 
Agent_Smith said:
Sheesh, what happened?
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WOW -- and still ongoing. While playing with cfd', I missed going down like the Titanic by the sort of dead cat bounce.

Perhaps I will now be able to actually get some bitcoin rather than playing with currencies.
 
Why was there a liquidity crunch at FTX? Where did the depositors money go if not available? Was the house placing bets with other peoples money? Does the house operate just like a bank where they only have to actually have a certain percentage of deposits actually available and the rest can be invested by the 'bank' elsewhere? They couldn't get enough money back in time to satisfy the 'bank run'?
 
Wary GOM said:
WOW -- and still ongoing. While playing with cfd', I missed going down like the Titanic by the sort of dead cat bounce.

Perhaps I will now be able to actually get some bitcoin rather than playing with currencies.
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Shorted at 15 before that bounce just had 100us on it though. Would have coined it if it didnt bounce.
 
flytek said:
Why was there a liquidity crunch at FTX? Where did the depositors money go if not available? Was the house placing bets with other peoples money? Does the house operate just like a bank where they only have to actually have a certain percentage of deposits actually available and the rest can be invested by the 'bank' elsewhere? They couldn't get enough money back in time to satisfy the 'bank run'?
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Taking on leveraged positions using investors' funds as collateral. Exactly what banks do but with much higher exposure to risk. It's crazy to Sam Bankman-Fried didn't learn from the collapse of Celcius, Voyager, 3 Arrows Capital, Luna, etc... GREED!
 
So who is the greediest retard of the year in Crypto for 2022 that deserves the most jail time?

A) Sam Bankman-Fried: for destroying FTX
B) Do Kwan: for destroying Terra Luna
C) Alex Mashinsky: For destroying Celcius
 
Sensorei said:
So who is the greediest retard of the year in Crypto for 2022 that deserves the most jail time?

A) Sam Bankman-Fried: for destroying FTX
B) Do Kwan: for destroying Terra Luna
C) Alex Mashinsky: For destroying Celcius
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To close to call but my vote is Do Kwan, mainly because of his arrogance and thinking he was invincible!
 
Sensorei said:
So who is the greediest retard of the year in Crypto for 2022 that deserves the most jail time?

A) Sam Bankman-Fried: for destroying FTX
B) Do Kwan: for destroying Terra Luna
C) Alex Mashinsky: For destroying Celcius
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To be honest, it is largely due to these people working in an unregulated and unaudited crypto world. Remember, they didn’t invest in you, you invested in them.

I only trade on two exchanges, Binance and OKX, because they do publish some internal policies and are transparent to a degree. I am also happy that CZ called on exchanges to publish PoFs, though some already do, but it isn’t always audited.

You can’t trust anyone on their word. I also wouldn’t trust CZ on the whim, but I like him because he publicly operates in promoting crypto adoption, so he has a lot more at stake. Everyone should know - For as long as crypto is unregulated it is more open to manipulation than other investment options.
 
Fulcrum29 said:
To be honest, it is largely due to these people working in an unregulated and unaudited crypto world. Remember, they didn’t invest in you, you invested in them.

I only trade on two exchanges, Binance and OKX, because they do publish some internal policies and are transparent to a degree. I am also happy that CZ called on exchanges to publish PoFs, though some already do, but it isn’t always audited.

You can’t trust anyone on their word. I also wouldn’t trust CZ on the whim, but I like him because he publicly operates in promoting crypto adoption, so he has a lot more at stake. Everyone should know - For as long as crypto is unregulated it is more open to manipulation than other investment options.
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I'm all for regulation. There need to be strict penalties for unethical practices in crypto.

An exchange should not be exposing their client's to hidden risks beyond the obvious risks of investing in speculative assets. What Sam did at FTX is criminal. With Luna everyone knew they were investing in a risky asset in the first place, which makes what Do Kwan did slightly less despicable. Sam deserves jail time. So does Alex from Celcius.

Every liquidation here was caused by arrogance, lies and greed. People like this should not be handling the potential future of finance.
 
Sensorei said:
So who is the greediest retard of the year in Crypto for 2022 that deserves the most jail time?

A) Sam Bankman-Fried: for destroying FTX
B) Do Kwan: for destroying Terra Luna
C) Alex Mashinsky: For destroying Celcius
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I vote C

mostly because Terra was so obviously a f-ing scam from day 1 that I struggle to sympathise with anyone who fell for it

both A and C were actively hiding their scams and gambled clients' funds on degenerate BS like Terra without their knowledge, that's worse imo

for some reason I always saw SBF as a piece of shyte and avoided anything he touches ... but Mashinsky got me, so he's the one I'd like to see burn in hell most
 
" Key MicroStrategy Statistics:
  1. MicroStrategy owns 130,000 bitcoins as of September 20, 2022. The total purchase price for the bitcoins was almost $4B making an average price of around $30,623 per bitcoin."
buybitcoinworldwide.com

BitcoinTreasuries.com

Track Bitcoin Treasuries of companies, miners and countries at BitcoinTreasuries.com.
buybitcoinworldwide.com buybitcoinworldwide.com

Cost $4 billion now worth $2 billion....Eish
 
flytek said:
" Key MicroStrategy Statistics:
  1. MicroStrategy owns 130,000 bitcoins as of September 20, 2022. The total purchase price for the bitcoins was almost $4B making an average price of around $30,623 per bitcoin."
buybitcoinworldwide.com

BitcoinTreasuries.com

Track Bitcoin Treasuries of companies, miners and countries at BitcoinTreasuries.com.
buybitcoinworldwide.com buybitcoinworldwide.com

Cost $4 billion now worth $2 billion....Eish
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Bitcoin still not yet a safe store of value in the short term. There are going to be more insolvencies of companies that used bitcoin as collateral.
 
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