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Anyone Invested in crypto?

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  • Creedmoor

    Master
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    Mar 10, 2022
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    I can’t think of any more volatile investment. If you are a gambler and can absorb the loss, you can give it a try. I’d rather play a scratch off lottery ticket myself.
    How about you give me a dollar and I will give you back .72 cents. And you give me a $5.00 bill and i'll give you back $3.60
    When I have won $96.00 I will give you back
    $10.00
    We can do it all day week.
     

    gregkl

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    Apr 8, 2012
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    I don't understand the defending of one's own investment strategy. Whether someone wants to buy crypto, or not buy, means nothing to me. I'm not looking for anyone to fall on misfortune due to their decisions nor am I in fear of missing out of something.

    I tried it but decided it wasn't for me so I got out. In the future if crypto takes over the world, I'm not going to be looking back with remorse that I didn't stay in.

    I wish I had bought Chrysler stock when Lee Iacocca took over or Walmart when they first got started. Or Tesla. Heck, you can see how it goes. Sure it would have been nice, but I'm not going to beat myself up over it.

    I do the best that I can and let life play out.
     

    smokingman

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    2   0   0
    Nov 11, 2008
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    13th exchange in the last two years to prevent withdraws. The only one of the 13 to not be insolvent(yet,it may be tomorrow).
    Going...going.....

    This comment on Zerohedge sums it up.

    profile_picture_1613403750115.jpg




    "Money doesn't go into or out of bitcoin. it is a zero sum Ponzi scheme. its 'price' is just a measure of how much wealth one wants to transfer to another person already playing in the game. when no one wants to play anymore its price will be zero. and you can't hang it on your wall, or feed your dog with it, or put it in a vase. it is the largest most extraordinary game of financial chicken the world has ever seen. the idea that there always will be a price greater than zero because it somehow has some intrinsic value is just wrong. so when the price of bitcoin goes to zero there will be no tidal wave of money coming out. it will just be a recognition that the wealth transfer is over and the folks holding the bag have nothing and it will not affect those already out of the game in the least. they will have already won.

    of course all the people playing the game or trying to be compensated for facilitating the game will create any sort of mechanism to promote the game. but that misses the point. the fundamental transaction is a transfer of wealth from someone not in the game to someone that is. all that transaction does is transfer some amount of real wealth from a non-player to a player so that the non-player is now a player and the previous player is out of the game. how much wealth was transferred to play is the price."

    That does not even mention how digital coins have almost no security against something like a quantum computer.
     

    smokingman

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    2   0   0
    Nov 11, 2008
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    Going...going.....

    This comment on Zerohedge sums it up.

    profile_picture_1613403750115.jpg




    "Money doesn't go into or out of bitcoin. it is a zero sum Ponzi scheme. its 'price' is just a measure of how much wealth one wants to transfer to another person already playing in the game. when no one wants to play anymore its price will be zero. and you can't hang it on your wall, or feed your dog with it, or put it in a vase. it is the largest most extraordinary game of financial chicken the world has ever seen. the idea that there always will be a price greater than zero because it somehow has some intrinsic value is just wrong. so when the price of bitcoin goes to zero there will be no tidal wave of money coming out. it will just be a recognition that the wealth transfer is over and the folks holding the bag have nothing and it will not affect those already out of the game in the least. they will have already won.

    of course all the people playing the game or trying to be compensated for facilitating the game will create any sort of mechanism to promote the game. but that misses the point. the fundamental transaction is a transfer of wealth from someone not in the game to someone that is. all that transaction does is transfer some amount of real wealth from a non-player to a player so that the non-player is now a player and the previous player is out of the game. how much wealth was transferred to play is the price."

    That does not even mention how digital coins have almost no security against something like a quantum computer.
    ...and gone. The stock crossed to a new low(now has had trading suspended). "investors" and people with any coin parked there likely will not be seeing anything soon if ever(something I have warned about since 2013 on this site,never trust exchanges should be a rule for anyone playing the game,you will lose). Maybe in a couple years after the government investigations end(the trigger for all of this) and possibly a restructure(doubtful it is to broken) maybe someone comes out of this partially redeemed,but most left are bag holders and will get about as much as enron employees did.

    BTC -13.89% in the last 24 hours
    ETH -15.96%
    BNB -15.72%
    XRP - 19.58%

    *New news.
    *BANKMAN-FRIED TOLD INVESTORS FTX HAS SHORTFALL OF UP TO $8 BLN

    Largest investor is retail traders.Largest institutional investors...none of which will get a penny if the above is true(likely is).
    • BlackRock
    • Ontario Pension Fund
    • Sequoia
    • Paradigm
    • Tiger Global
    • SoftBank
    • Circle
    • Ribbit
    • Alan Howard
    • Multicoin
    • VanEck
    • Temasek
     
    Last edited:

    smokingman

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    smokingman

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    Nov 11, 2008
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    FTX story is taking some serious turns. Apparently the app has a back door and people are finding their wallets empty to the tune of around 1 billion(not including the 8 billion shortfall). FTX ceo was the second largest democrat donor on earth(next to soros).

    But hey FTX did give every Ukrainian account coins before their leader fled(now in hiding supposedly in Argentina the day after he left the company and 800 million in additional funds disappeared).


    Clown world.
     

    smokingman

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    2   0   0
    Nov 11, 2008
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    Last edited:

    smokingman

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    Nov 11, 2008
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    Just to give a breakdown of what appears to have happened. FTX is started in 2019,Biden won,FTX skyrockets. We send money to Ukraine. Ukraine buys into FTX,which then becomes the second largest Democrat donor. A few days before the election the largest crypto fund(Chinese run),pulls out of FTX. Ukraine follows the same day.
    Day of election FTX implodes,with over 1.7 billion in client funds missing. Leaving only 900 million in liquid assets. Those assets vanished late Friday night(much of it from clients wallets). Mind you there were several federal investigations under way for over a month before it all imploded.

    About sums it up. It was a money laundering operation,mostly for democrats,but also a few republicans that had control the oversight of cryto exchanges.

    I would wager this stops making news very soon. US gives money to Ukraine. Ukraine turns it into cryto and pays off US politicians.


    April 25, 2019: Biden announces his presidential campaign.
    13 days later, Sam Bankman-Fried, son of Barbara Fried ( Stanford Professor and co-founder of political fundraising organization "Mind-the-Gap), launches #FTX crypto exchange.
    The exchange is magically an overnight success.

    SBF becomes biggest donor to Biden.

    Election day, FTX implodes completely.


    If you think this scandal is done, it goes even deeper.
    -----
    Gabe Bankman-Fried, brother to Sam (also a former Jane Street trader), is founder of Guarding Against Pandemics


    He was a Legislative Correspondent for the US House of Representatives and an advisor to large political donors in the Democrat party.


    The family Aunt Linda Fried is a WEF member on the Global Agenda Council on Aging.
    The father, Joseph Bankman is a Stanford professor who has lobbied on behalf of Hedge Fund managers before Congress before (film records exist).


    FTX' Head of Ventures & Commercial at FTX Ventures Amy Wu, started with the Clinton Foundation years ago.


    Nishad Singh FTX Director of Engineering has spent over 8 million for Dem candidates.


    And finally Obama's Commodity Futures Trading Commissioner, Mark Wetjen was literally the head of FTX Policy & Regulation.


    Reports were the organization wanted to spend over a billion dollars on the Democratic party for 2024.

    FTX's WEF site.
     
    Last edited:

    bwframe

    Grayish Man
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    89   0   0
    Feb 11, 2008
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    Hopefully, this story cannot help but see the light of day in the press. We are gonna need a lot of enlightening, if we are ever to win elections again.


    .
     

    Route 45

    Say When
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    Indy
     

    bwframe

    Grayish Man
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