Caroline Ellison, CEO of Alameda Research, pleads guilty to seven offences

Post by imtringued » Sat, Dec 24, 2022, 10:13 AM UTC

55555 wrote: post #203

the__alchemist wrote: post #181

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Tangent: How did people hear about FTX? I've been interested in/holding crypto for a few years, and the big player was (and I assumed still is until recently) Coinbase, or Coinbase pro if you wanted better rates. There was bitcoin, Etherium, and some smaller coins like Bitcoin Cash, XRP, and Litecoin. I had a mix of coins, then rebased in ~2019 to a 50/50 Eth/Bitcoin split. As an alternative to Coinbase, you could us…

No, Coinbase is not the big player for actual crypto to crypto trading pairs. That’s Binance. FTX was #2 on that list. Coinbase is the USA’s #1 fiat on-ramp. Fiat on-ramps are a different category. You are an investor. The people using Binance and FTX are traders. Traders are looking for exotic pairs, more leverage, more derivatives, and lower fees. Whether or not Coinbase is even a tenable business long-term is actu…

Post by matheusmoreira » Sat, Dec 24, 2022, 12:37 PM UTC

ChuckMcM wrote: post #98

1vuio0pswjnm7 wrote: post #69

Strange (re: The Guardian, not HN). By today's 24-hour news cycle standard, this is arguably "old news". These documents have been available for at least 24h. I know because I submitted them to HN yesterday. Ellison's Plea Agreement https://assets.bwbx.io/documents/users/iqjWHBFdfxIU/r478tCuj... CTFC v SBF, Ellison and Wang Amended Complaint https://assets.bwbx.io/documents/users/iqjWHBFdfxIU/rRCRC2hQ... Wang's Plea…

Not particularly strange. There are whole web pages devoted to the "right time of day" to submit something to this site to catch the most early up votes.

Post by hgsgm » Sat, Dec 24, 2022, 1:05 PM UTC

Gustomaximus wrote: post #93

Lapsa wrote: post #41

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I've never understood how stop losses are supposed to help. Traders read heaps of news, do God knows what technical analysis yet simple "moves bit too much in wrong direction" is supposed to be an acceptable exit strategy.

It's about recovery. A loss of 10 percent necessitates an 11 percent gain to recover. Increase that loss to 25 percent and it takes a 33 percent gain to get back to break-even. A 50 percent loss requires a 100 percent gain to recover and an 80 percent loss necessitates 500 percent in gains to get back to where the investment value started.

Post by 29083011397778 » Sat, Dec 24, 2022, 1:16 PM UTC

TylerE wrote: post #217

wpietri wrote: post #173

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It depends on how we're counting, but Musk is down over $100 billion in the last year: https://www.cnn.com/2022/12/07/business/elon-musk-wealth/ind...

Actually I was wrong, it was 70 billion, and it was 22 years ago: As of December 2022, Son ranks 67th on the Forbes list of The World's Billionaires 2022,[10] despite having the distinction of losing the most money in history (approximately $70bn during the dot com crash of 2000).[11] That’s $121b inflation adjusted

Post by neomantra » Sat, Dec 24, 2022, 2:54 PM UTC

KMag wrote: post #209

dragonwriter wrote: post #196

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Sure, and a helmet and bulletproof vest with trauma plates doesn’t stop you from getting killed by shot in the face. But the lack of complete protection is a pretty bad argument against using the available protection. (There's some things a stop-limit is better for than a regular stop loss, but I'm not convinced that they are generally superior except in the technical sense that any stop loss can be issued as a stop-…

Minor nit pick: some products, such as exchange-traded calendar spreads, have prices that can go negative and in fact don't have a lower limit on price. When I was writing trading systems, it was a big headache to modify a system original designed only for equities to handle other asset types, especially those that could have negative prices.