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Three Arrows Capital has defaulted on a loan worth more than $670M

cnbc.com

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Re: Three Arrows Capital has defaulted on a loan worth more than $670M

#11

Post by yieldcrv »

This has been a slow motion trainwreck across crypto twitter (echoed sometimes in financial publications) and this is the first mainstream source out there. Finally.

I definitely would like to see more things about specific organizations. Indictments about crypto as a whole just allows poorly run organizations to avoid scrutiny.

Now if only there were mainstream news articles about all the things that go right in crypto.

Its so peculiar and easy to tell when people have never considered anything aside from a barrage of negative headlines. Reminds me of the 90s when an older person at the time would say like "the 'puters always get viruses" as a reason to not explore the concept further, as if that was the whole experience.

Re: Three Arrows Capital has defaulted on a loan worth more than $670M

#12

Post by toomuchtodo »

CoastalCoder wrote: post #8

I always have mixed feelings when someone is warned about the riskiness / foolishness / stupidity of a course of action, and then suffers for it. On the one hand, there's a certain satisfaction or Schadenfreude in the sense of vindication. And it's pleasant to feel like my own wisdom or self-control has been validated. OTOH, I know that everyone has limited wisdom / self-control / intelligence, including me. So it se…

Hot take: It’s fine when it happens to extreme hubris with paper wealth. It is not fine when it was someone unsophisticated chasing the herd who lost a meager sum that was meaningful to them. Comedy vs tragedy.

Same thing with Archegos (Bill Hwang) and their rapid failure. It’s the hubris that makes it fun to poke fun, the sun blastin’ Icarus’ wings clean off.

(no crypto exposure)

Re: Three Arrows Capital has defaulted on a loan worth more than $670M

#13

Post by rvz »

paywallasinbeer wrote: post #5

For anyone else enjoying the crypto meltdown, might I suggest the subreddit /r/buttcoin? It's quite enjoyable. https://old.reddit.com/r/Buttcoin/

After looking at it for a moment, it's equally delusional as /r/cryptocurrency.

I'm enjoying the meltdown because it flushed out those who believed in nonsense like 'This isn't even close to what will be the all time high' [0] 'Doge to $1 by September 2021' [1], etc. Where are they now?

I won't be surprised to see Bitcoin go lower than $10K. This is before regulations and the Tether scam collapsing.

[0] https://news.ycombinator.com/item?id=26840923

[1] https://news.ycombinator.com/item?id=27046019

Re: Three Arrows Capital has defaulted on a loan worth more than $670M

#14

Post by rafale »

paywallasinbeer wrote: post #5

For anyone else enjoying the crypto meltdown, might I suggest the subreddit /r/buttcoin? It's quite enjoyable. https://old.reddit.com/r/Buttcoin/

Why would u enjoy people losing their life savings? Just because they told you to have fun staying poor on the way up?

Re: Three Arrows Capital has defaulted on a loan worth more than $670M

#15

Post by jjtheblunt »

CoastalCoder wrote: post #8

I always have mixed feelings when someone is warned about the riskiness / foolishness / stupidity of a course of action, and then suffers for it. On the one hand, there's a certain satisfaction or Schadenfreude in the sense of vindication. And it's pleasant to feel like my own wisdom or self-control has been validated. OTOH, I know that everyone has limited wisdom / self-control / intelligence, including me. So it se…

Maybe you're feeling that there's a repressed positivity in a lesson learned?

Re: Three Arrows Capital has defaulted on a loan worth more than $670M

#16

Post by [deleted] »

rvz wrote: post #13
paywallasinbeer wrote: post #5

For anyone else enjoying the crypto meltdown, might I suggest the subreddit /r/buttcoin? It's quite enjoyable. https://old.reddit.com/r/Buttcoin/

After looking at it for a moment, it's equally delusional as /r/cryptocurrency. I'm enjoying the meltdown because it flushed out those who believed in nonsense like 'This isn't even close to what will be the all time high' [0] 'Doge to $1 by September 2021' [1], etc. Where are they now? I won't be surprised to see Bitcoin go lower than $10K. This is before regulations and the Tether scam collapsing. [0] https://news.…

[deleted]

Re: Three Arrows Capital has defaulted on a loan worth more than $670M

#18

Post by sweezyjeezy »

niclo wrote: post #9
paywallasinbeer wrote: post #5

For anyone else enjoying the crypto meltdown, might I suggest the subreddit /r/buttcoin? It's quite enjoyable. https://old.reddit.com/r/Buttcoin/

> It's quite enjoyable. Not really, it's full of people hating and insulting and pretty much comparable to the average crypto bro subreddit.

Even if it is trolling - that's orders of magnitude less harmful to society than a subreddit that offers dangerous financial advice.

Re: Three Arrows Capital has defaulted on a loan worth more than $670M

#19

Post by duxup »

rafale wrote: post #14
paywallasinbeer wrote: post #5

For anyone else enjoying the crypto meltdown, might I suggest the subreddit /r/buttcoin? It's quite enjoyable. https://old.reddit.com/r/Buttcoin/

Why would u enjoy people losing their life savings? Just because they told you to have fun staying poor on the way up?

I think people can be interested in how something plays out without “ enjoy people losing their life savings”.

I don’t mind seeing some of the pyramid schemes and such revealed for what they are.

I like to think everything plays out and for a while more people don’t risk and loses their money and maybe some bad guys go to jail even.

Re: Three Arrows Capital has defaulted on a loan worth more than $670M

#20

Post by arcticbull »

rafale wrote: post #14
paywallasinbeer wrote: post #5

For anyone else enjoying the crypto meltdown, might I suggest the subreddit /r/buttcoin? It's quite enjoyable. https://old.reddit.com/r/Buttcoin/

Why would u enjoy people losing their life savings? Just because they told you to have fun staying poor on the way up?

If they banked their future on libertarian magic beans fueled by wasting a mid-sized country worth of power e-waste, and each time you mentioned the obvious flaws in their half-baked schemes they made fun of you, implying that you're 'not going to make it' and telling you to have 'fun staying poor' -- yep, a little. In the abstract of course.
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