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Ftx.com Has Probably Collapsed
31–40 of 200 posts
Re: Ftx.com Has Probably Collapsed
#32Re: Ftx.com Has Probably Collapsed
#33Does 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…
Coinbase makes money on fees and doesn’t lend out deposits.
Seriously look at their balance sheet!
They have zero risk of this kind of insolvency, their only risk is people stop using them to trade.
Say what you will about that being a weird/dumb model but here we are.
Re: Ftx.com Has Probably Collapsed
#34Does 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…
Binance's claims about 1:1 backing for BUSD seem legitimate but then again FTX also seemed like a legitimate exchange.
People who use exchanges should withdraw their crypto asap. Does not matter if it's binance or coinbase or kraken. There is 0 benefit to keeping it on any exchange and unlimited risk for doing so
Re: Ftx.com Has Probably Collapsed
#35The good times made crazy people look smart and the bad times are making crazy people look like idiots.
Fortunately for investors in public companies, you can mostly sort out the crazy people ahead of time 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
FTX’s exchange business is regulated by the Securities Commission of the Bahamas.
Re: Ftx.com Has Probably Collapsed
#36This is maybe tangential of me to say, but since this post is coming from an EA forum: I think the cozy relationship between EA and FTX has done immense damage to the public image and standing of the EA movement.
I've never been an EA person (much less a utilitarian) but I can appreciate the meat and potatoes of applied ethics, especially when those ethics are applied consistently. The infusion of cryptocurrency funny money into that world has completely perverted both aspects: much of EA now seems focused on speculative concerns (AGI) rather than real ones (world hunger or civic integrity), and all sorts of perverse rationales are offered for wealth extraction in service of future utils rather than just doing morally good things.
Re: Ftx.com Has Probably Collapsed
#37That was incredibly fast. Interesting to note is that the failures are growing and FTX contagion is real. I am weirdly positive about this because I like the tech but I don't like the "degens" Having spent the last 20 years in Finance, the last thing you want is fuck around with other people's money.
I've been waiting for this for years.
You’ve been waiting years for people to suffer? Lookup “ schadenfreude”.
Re: Ftx.com Has Probably Collapsed
#38Earlier quoted context omitted.
Fortunately for investors in public companies, you can mostly sort out the crazy people ahead of time 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
FTX’s exchange business is regulated by the Securities Commission of the Bahamas.
Sounds trustworthy
Re: Ftx.com Has Probably Collapsed
#39[deleted]
Re: Ftx.com Has Probably Collapsed
#40Earlier quoted context omitted.
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
>>Well, it has no intrinsic value 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.
> Like nearly every other asset.
Prove to me you know nothing about investing in one sentence. Bravo.
Plenty of assets cashflow and provide tangible value. Crypto is not one of them. Unless you consider yields from a lending ponzi to be sustainable