401–410 of 790 posts
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Only about 10% (2M) of bitcoin are on exchanges: https://www.coinglass.com/Balance
You also have to take the ~4M estimated coins with lost keys into account. If these stats are correct we closer to 15%. Which is a lot. I would have expected 0.1%.
There was a looming liquidity crunch because the people running exchanges are... well... lying about reserves.
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Why even reference it then? We have understood that sins of the father are not the sins of the child since at least the book of exodus(~500BC). If that tweeter has done something wrong in his life, then talk about it. But he didn't really have a choice on who birthed him. From the wiki page: > Some of his children were resentful that he gave them no special privileges and treated their mothers poorly.
I went to Georgia Tech with Dare. It's a great school, but it's not exactly the kind of place you send your scions of privilege.
Someone like him not born to such father in Nigeria, will likely be an high school teacher getting paid $100 every 4 months.
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> modern day bank run in traditional finance is functionally impossible Not at all. Bank runs still happen, the backstops just soften the blow with liquidity injections. Every time you see a withdrawal limit, there is no doubt a bank run is occurring.
> you see a withdrawal limit, there is no doubt a bank run is occurring This is not accurate. Withdrawal limits are there to control fraud.
You know what this makes me kind of wonder... back earlier in the year SBF made a big show of coming in and investing in a bunch of the companies that were collapsing due to the LUNA/3AC/Celsius problems. He stepped in and to some extent halted the unwinding of some of these issues. It turns out now that it's likely FTX is underwater, and Binance is basically doing the same thing - coming in, picking them up cheap an…
Binance was threatening to dump a huge amount of FTT tokens on the market. FTX has a big+vulnerable position in FTT. FTX asked Binance to sell them the tokens for a fixed price, so as not to crash the FTT token price. Binance declined - this was yesterday/today. Of course the price of FTT crashed today. And now Binance buys FTX to help them out... smells like Binance played 4D chess all along. https://decrypt.co/1136…
> smells like Binance played 4D chess all along It's not really "4D chess" to screw over your competitor to corner the market. That's like, business 101.
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Total unrelated but son of https://en.wikipedia.org/wiki/Olusegun_Obasanjo . Numero uno looter of Africa
Why even reference it then? We have understood that sins of the father are not the sins of the child since at least the book of exodus(~500BC). If that tweeter has done something wrong in his life, then talk about it. But he didn't really have a choice on who birthed him. From the wiki page: > Some of his children were resentful that he gave them no special privileges and treated their mothers poorly.
Binance was threatening to dump a huge amount of FTT tokens on the market. FTX has a big+vulnerable position in FTT. FTX asked Binance to sell them the tokens for a fixed price, so as not to crash the FTT token price. Binance declined - this was yesterday/today. Of course the price of FTT crashed today. And now Binance buys FTX to help them out... smells like Binance played 4D chess all along. https://decrypt.co/1136…
> smells like Binance played 4D chess all along It's not really "4D chess" to screw over your competitor to corner the market. That's like, business 101.
I'm glad a big government supporter such as SBF is out of crypto leadership. Crypto is an anarchist experiment and it should remain that way
A supporter or another crook LARPing as pro-regulation because it makes some people ignore red-flags?
Constantly braying about the "the law" is part of the the main act of the highest profile scammer claiming to have created Bitcoin.
Fact is that saying a lot of vague "pro regulation" things doesn't likely subject you to any additional regulatory scrutiny, it's a free move even when you are waste deep in the cookie jar. But some people are going to notice it and consider it evidence that you're all above board.