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and yet Bitcoin is off 4.5% off of lows $15.6k -> $16.3k
Serious question: how long can it last at these levels. Where’s the support for this asset?
Sounds like my kind of asset
There’s some key difference between Coinbase and an exchange like FTX. Is it because FTX had a token, and then leveraged themselves using their own token?
Binance has a token too. Are they in similar danger? It would be an interesting contrast to know why one exchange is safe vs another.
Here’s SBF testifying in front of congress in Dec 2021 that FTX is completely transparent and therefore safe: https://www.tiktok.com/t/ZTRxC7XrT/
Consumers need to be able to research claims like these. Is there a way to make a “Warning: this exchange is over leveraged” indicator? Or is it just impossible to know?
Earlier quoted context omitted.
Serious question: how long can it last at these levels. Where’s the support for this asset?
Drugs, Money Laundering, Money Hiding, etc. etc. There is utility in a black currency for all sorts of illegal things
The good times made crazy people look smart and the bad times are making crazy people look like idiots.
By inspecting the growth mechanism of the company. Amount of leverage, yield on investments relative to risks, assumptions about future growth, management commentary etc.
Unfortunately for investors in FTX, they had no visibility or regulations/protections against their deposits being stolen
and yet Bitcoin is off 4.5% off of lows $15.6k -> $16.3k
Earlier quoted context omitted.
Drugs, Money Laundering, Money Hiding, etc. etc. There is utility in a black currency for all sorts of illegal things
But bitcoin is the absolute worst black currency. Every single transaction has a permanent public record.
Yeah, Visa is much better.
Does anyone know how Coinbase avoided this fate? I really thought it would be them to fall, but they proved everyone wrong. There’s some key difference between Coinbase and an exchange like FTX. Is it because FTX had a token, and then leveraged themselves using their own token? Binance has a token too. Are they in similar danger? It would be an interesting contrast to know why one exchange is safe vs another. Here’s…
Earlier quoted context omitted.
Serious question: how long can it last at these levels. Where’s the support for this asset?
Well, it has no intrinsic value, so it's all psychological on the basis of what numbers sound low or high. Sounds like my kind of asset
Like nearly every other asset. 'Bitcoin is dead' has been said for over a decade now. We'll see what happens. I mined one of the first few thousand blocks. I don't think it's going anywhere unless civilization gets destroyed but that's just my opinion.
The good times made crazy people look smart and the bad times are making crazy people look like idiots.
I keep seeing these headlines, and I keep really trying to feel sorry for these people that are potentially loosing their arses. However, I just can't get there. NFTs are the ones I'm really LOLing about vs the currency plays, but since the currencies are failing too, it just kind reveals the house of straw the whole thing truly is.