81–90 of 280 posts
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Those times will never come again.
I said the same thing after the wild times in 2017. Frankly I don't think anyone actually knows.
Obviously the answer depends on the amount of financial trouble they're in, or whether they're in trouble at all. I'm not sure about anything else though.
Earlier quoted context omitted.
Just makes one wonder why the binance guy even stirred the pot initially with FTX, like 3 possibilities exist: 1. He assumed the blowout would be minimal outside of FTX and/or assumed FTX was shady but not as bad as it turned out 2. He acknowledged the possibility that binance will also get scrutiny but realized FTX was just so bad that letting it fester further will only get him arrested faster too. 3. He’s just ano…
As for 3), we really need to avoid the narrative that these people are idiots or stupid. They are sharks - intentionally malevolent people who have defrauded millions of people. SBF's current defense is that he was too naive and unaware of what was happening at FTX. Obviously its a lie - but we shouldn't help these people spread it.
I’m waiting for Binance and Tether to collapse, and then we will know with certainty crypto’s best days are behind it, down to zero it goes. If you have assets on Binance I would not be complacent. Get them out.
I just can't see how crypto can recover tbh. What other technology spent ten years, produced basically nothing of value, is almost universally hated by the whole population and then came back to be something useful? It's not like quantum computing where we just don't know how to make it work. There are close to no technical problems, the core idea just doesn't work.
Can you source that? It feels to me like a gross exaggeration. Anecdotally I know more people that are passionate about it or just don't care than anyone who really hates it.
Earlier quoted context omitted.
I said the same thing after the wild times in 2017. Frankly I don't think anyone actually knows.
2021 saw Hollywood A-listers pitching crypto in Super Bowl ads. It's going to take a long, long time for crypto mania to reach a similar peak again.
How much do Super Bowl ads actually matter? Is frivolous advertising the ultimate metric for financial froth? Or are ads like that just a symptom of macroeconomic conditions? Is it an accident that conditions were accommodative in 2017, but even moreso in 2021?
I think macroeconomics are more likely to determine meme-asset prices in the coming years than any other factor. If there's more monetary tightening ahead it's gonna be tough times for crypto, but I'm not yet convinced that we've separated from zero-rate policies for the long haul. There's some signs that inflation may not be so tenacious and that a recession is on the way, which could cause another rate U-turn pretty quick.
Recessions are very bad news for risk assets (and doubly so for meme-assets, presumably), but recessions aren't nearly as sticky as monetary policy tends to be. So I can certainly see a future where in late 2024 we have a strengthening/recovering economy, very accommodative monetary policy, and... another block halving.
Plus Bitcoin is a global asset, so there's the question on what goes on at a global macro level as well.
On the other hand, Bitcoin retains a much smaller share of the total crypto market value than it has historically. Since Bitcoin is... "slightly less disreputable" than other cryptocurrencies... that suggests that the speculators have not yet rotated out of the riskiest crypto assets.
Anyway: we will see. I don't trust anyone who is confident they know what's coming next.
Earlier quoted context omitted.
I just can't see how crypto can recover tbh. What other technology spent ten years, produced basically nothing of value, is almost universally hated by the whole population and then came back to be something useful? It's not like quantum computing where we just don't know how to make it work. There are close to no technical problems, the core idea just doesn't work.
MLMs like Amway are still around though. Crypto operates like an MLM in many ways.
Imagine if there were some token attached to Mastodon, maybe we'd all have ditched Twitter already.
I liked Moxie's post about how no one wants to build servers. Maybe a next gen crypto that is peer oriented and works on mobile is key.
Not a maxi or mini but definitely find that some interesting phenomena have played out through crypto beyond "just" speculation
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Just makes one wonder why the binance guy even stirred the pot initially with FTX, like 3 possibilities exist: 1. He assumed the blowout would be minimal outside of FTX and/or assumed FTX was shady but not as bad as it turned out 2. He acknowledged the possibility that binance will also get scrutiny but realized FTX was just so bad that letting it fester further will only get him arrested faster too. 3. He’s just ano…
As for 3), we really need to avoid the narrative that these people are idiots or stupid. They are sharks - intentionally malevolent people who have defrauded millions of people. SBF's current defense is that he was too naive and unaware of what was happening at FTX. Obviously its a lie - but we shouldn't help these people spread it.
Despite the fact that he owns Alameda.
I’m waiting for Binance and Tether to collapse, and then we will know with certainty crypto’s best days are behind it, down to zero it goes. If you have assets on Binance I would not be complacent. Get them out.
If Binance is insolvent(which looks like the popular sentiment here), could it be possible that they're playing an angle to "fix" the solvency given enough time delay? Or does their insolvency practically guarantee that they will never be solvent again? Obviously the answer depends on the amount of financial trouble they're in, or whether they're in trouble at all. I'm not sure about anything else though.
Binance is the closest thing to a global, borderless bank that exists today. They exist everywhere and nowhere. Their legal entities shift based on what is needed at the moment. They have the ability to easily create tens of millions of dollars as needed based on their BNB reserves, tight relationship with Tether, their ability to launch new token projects (i.e. unregulated securities offerings), and their stablecoin…
People really falling for a machine-generated comment here. Don't feed the troll
If we just start accusing each other of being bots whenever we think someone is trolling or acting in bad faith we're going to create cover for the actual bots.