51–60 of 238 posts
Earlier quoted context omitted.
Crypto simply followed the overall market effects. People cashed out with the economic downturn on the profits they made, just as they did the stock market.
> Crypto simply followed the overall market effects Crypto is performing far worse than even the riskiest decile of the stock market. Which should surprise nobody.
> Since the start of this year, macroeconomic and geopolitical factors have weighed on financial markets. This is an incredible couching of the last 9 months of cryptocurrency market behavior. Does anybody actually operate on their belief that "geopolitical factors," rather than astonishing amounts of fraud , are responsible for the current downturn?
We learned about the fraud because of macroeconomic factors! inflation -> rising interest rates -> crypto less attractive [0] -> people ask for their deposits back -> company can't meet obligations -> company folds -> scrutiny -> fraud revealed Is my basic model of things. [0] from https://marginalrevolution.com/marginalrevolution/2022/11/th... : "When interest rates are very low a dollar in the far future is worth a…
Strange, LinkedIn shows staff of 500+ https://www.linkedin.com/company/krakenfx/ and the press-release mentioned "1,100 people, or 30 percent". Number do not add up.
Earlier quoted context omitted.
> Crypto simply followed the overall market effects Crypto is performing far worse than even the riskiest decile of the stock market. Which should surprise nobody.
This is not true. The riskiest stocks are down thousands of %.
This isn’t how numbers work.
Also, practically every asset class has a member that went to zero. The question is what fraction, and how did the others do. If you bought a basket of super-risky assets, over the past years, they went up like crypto and down less.
Earlier quoted context omitted.
In fairness the astonishing amounts of fraud have been there all along.
As is true in traditional finance as well. If you want to escape fraud altogether you might as well not have any wealth. The entire 2008 financial crises was due to fraud...
Earlier quoted context omitted.
> Crypto simply followed the overall market effects Crypto is performing far worse than even the riskiest decile of the stock market. Which should surprise nobody.
This is not true. The riskiest stocks are down thousands of %.
Huh?
> We’re reducing our global workforce by approximately 1,100 people, or 30 percent, in order to adapt to current market conditions. Why does a crypto exchange need 4,000 employees?
If it were up to HN, I swear, every company would just have 30 employees or it's a "waste".
WhatsApp is the exception, not the rule.
> We’re reducing our global workforce by approximately 1,100 people, or 30 percent, in order to adapt to current market conditions. Why does a crypto exchange need 4,000 employees?
If it were up to HN, I swear, every company would just have 30 employees or it's a "waste".
Earlier quoted context omitted.
> Crypto simply followed the overall market effects Crypto is performing far worse than even the riskiest decile of the stock market. Which should surprise nobody.
Have we forgotten the amount of profit people made from the prior years of insane price growth? Tell me which stock performed as well as Bitcoin.
If you want to go for a rodeo, there are litanies of similar success stories in penny stock and angel investing.