The anti-crypto thread

[BFG10K]

Great news, crypto's collapsing across the board: https://www.techpowerup.com/282380/...ions-in-less-than-24-hours-did-the-bubble-pop

Also China's banned crypto, though individuals can still have it: https://finance.yahoo.com/news/chinese-financial-payment-bodies-barred-122712260.html

The sooner this cancerous parasite is wiped out, the better.

 

[Lost_in_the_HTTP]

Do we already know this?

'Hacked' FTX scrambles to quarantine whatever crypto is left in it

Mashable|48 minutes ago
No less than $1 billion worth of customers' cryptocurrency apparently vanished from FTX.


..

 

[BFG10K]

They want regulations when regulations pay them (like when the FDIC pays out insurance money).

Of course. They also want government cops paid by fiat to recover funds they steal from themselves in their delusional utopia.

No less than $1 billion worth of customers' cryptocurrency apparently vanished from FTX.

It's funny how easy it is to loot "secure" blockchain. Just walk out with no trace or consequences.

 

[AdamK47]

This is your crypto golden boy.

 

[VirtualLarry]

Holy Shitballs, Binance is heavily capitalized in their own token as well. Another soon to fall?

 

[brianmanahan]

sbf is getting philosophical now

 

[Lost_in_the_HTTP]

I don't understand most of these words, but ....


After FTX's collapse, VCs across industries are finally admitting to crypto's failures — and they're preparing for 'more blows to come'

Business Insider|20 minutes ago
After the bankruptcy of FTX, VCs are admitting crypto's shortcomings, rethinking their investments, and preparing for financial backers to step away.



.

 

[AdamK47]

I don't see the usual defenders come to this thread anymore. It's not much fun without people like beginner99 posting here.

 

[JEDI]

thx

going to put in a buy order for Microstrategy (defacto bitcoin) at 40% of it's current price.
(btc=24k currently. $10k is 40% of that)

hm.. didnt write down what was MicroStrategy's price at that time.
doh!

 

[dullard]

hm.. didnt write down what was MicroStrategy's price at that time.
doh!

Looks like it closed at $201.51 that day. 40% of that would be roughly $80.

 

[darkswordsman17]

I don't see the usual defenders come to this thread anymore. It's not much fun without people like beginner99 posting here.

Stop spreading disinformation!!!

 

[AdamK47]

hm.. didnt write down what was MicroStrategy's price at that time.
doh!

Around $201. If you bought at the time, you would be up 30% on Nov. 7th. As of now, down 13% to 15%.

 

[JEDI]

Around $201. If you bought at the time, you would be up 30% on Nov. 7th. As of now, down 13% to 15%.

interesting that mstr stock price has only sunk ~15% while btc has sunk ~30%.

so mstr's other business ventures is propping up the stock price.
so $80/share price tag might not be the buying point.
it might be higher

 

[MrSquished]

Crypto is the hibiscus tea of black teas

 

[VirtualLarry]

Crypto is the hibiscus tea of black teas

Deep, man, deep.

 

[AdamK47]

Crypto is the hibiscus tea of black teas

That's a huge dis on hibiscus teas.

 

[Heartbreaker]

Crypto is the Tulip Bulb of the Flower world.

 

[Zorba]

https://twitter.com/x/status/1590473641841807360

i want a bailout!!!

I'm sure most people flying out of Vegas feel the same way.

 

[Mai72]

Its time to go all in and make them millions?

 

[IronWing]

Its time to go all in and make them millions?

Go for it. Report back.

 

[njdevilsfan87]

Its time to go all in and make them millions?

There's always the chance of the Tether bomb...

I don't see the usual defenders come to this thread anymore. It's not much fun without people like beginner99 posting here.

Ok. I'll go for it.

Back in August Ethereum fees dropped as low as 3-5gwei. It was dirt cheap to use. Today the fees only get as low 9-11gwei, so there is a 2-3x sustained network usage off of the lows. Also, GoerliEth - the token for the main test net - is really difficult to obtain right now. This suggests that development is picking back up as the "old guard" collapses. The fees are a huge deal because right now there's this window to actually deploy and even scale on Ethereum - something that wasn't possible during the bull run when minimum fees were only hitting 35-50gwei. Some realize this and are taking advantage.

Ethereum will eventually bounce back.

 

[igor_kavinski]

Ethereum will eventually bounce back.

How much is your Ethereum stash valued at currently? When do you think it will double?

 

[AdamK47]

There's always the chance of the Tether bomb...



Ok. I'll go for it.

Back in August Ethereum fees dropped as low as 3-5gwei. It was dirt cheap to use. Today the fees only get as low 9-11gwei, so there is a 2-3x sustained network usage off of the lows. Also, GoerliEth - the token for the main test net - is really difficult to obtain right now. This suggests that development is picking back up as the "old guard" collapses. The fees are a huge deal because right now there's this window to actually deploy and even scale on Ethereum - something that wasn't possible during the bull run when minimum fees were only hitting 35-50gwei. Some realize this and are taking advantage.

Ethereum will eventually bounce back.

There are so many hurdles to overcome from the fallout of FTX when it was once perceived as trustworthy and stable. Getting people to put money into cryptocurrency was already a mind game. This plants a viable seed of doubt.

 

[dullard]

Is another one biting the dust?

Gemini, BlockFi, Genesis announcing new restrictions as FTX contagion spreads

The lending arm of the crypto investment bank Genesis Global Trading is pausing new loan originations and redemptions.

www.cnbc.com

Halting redemptions is not a sign of confidence. This certainly will hurt Coindesk and Digital Currency Group.

 

[njdevilsfan87]

There are so many hurdles to overcome from the fallout of FTX when it was once perceived as trustworthy and stable. Getting people to put money into cryptocurrency was already a mind game. This plants a viable seed of doubt.

What is happening now in crypto may be its 2008 financial crisis. But, things change and evolve. The rules change - regulations will come, just like they did after 2008. People forget and a new generation replaces those that don't. And that new generation will have more safeguards both externally (regulations) and internally (a more skilled dev ecosystem having learned and patched holes via trial-by-fire) to help prevent again what is happening now.

 

[Heartbreaker]

... to help prevent again what is happening now.

But nothing prevents any of the crypto-coins from just bottoming out to their true worth: ZERO.

It's only collective greed that props them up.