Crypto currency thread

[hater]

So you don't think it would have been a good idea to sell when it was clearly breaking down? Even at 40k, you could have doubled up your shares.

Sure but I was always on for the long term. Minimum 10 years.

In 2030 well see where we are :lmao

[SpursforSix]

Sure but I was always on for the long term. Minimum 10 years.

In 2030 well see where we are :lmao

"Long term" doesn't mean ignoring taking profit and re-buying. The brokerage houses have made billions by pushing holding and dollar cost averaging.

[hater]

"Long term" doesn't mean ignoring taking profit and re-buying. The brokerage houses have made billions by pushing holding and dollar cost averaging.

Yeah thats called greed in my book. Thabk God I dont do that

[SpursforSix]

Yeah thats called greed in my book. Thabk God I dont do that

You're either executing a great troll job or you're totally ignorant.

[ChumpDumper]

You only lose if u sell. So zero :lol

Lot of my coins were bought in 2020 when it was 20k anyway :lmaoIf you cash out at 15k, how much would you lose?

[hater]

You're either executing a great troll job or you're totally ignorant.

Why? Im not greedy. Im good with a 10 year wait.

Cheers :tu

[hater]

If you cash out at 15k, how much would you lose?

Zero. Im not cashing out

Cheers :tu

[ChumpDumper]

Zero. Im not cashing out

Cheers :tuIf it goes down to 15k, how much value of your holdings will you have lost comparing it to the dollar at that moment?

[hater]

:lmao

https://twitter.com/rockerest/status/91885405368098816

[SpursforSix]

:lmao

https://twitter.com/rockerest/status/91885405368098816

I don't know how much Bitcoin you have. From what you've said, it's several. You should be laughing at yourself for forgoing $100,000+ in profits.

[hater]

I don't know how much Bitcoin you have. From what you've said, it's several. You should be laughing at yourself for forgoing $100,000+ in profits.

Coulda woulda. I dont dwell

Im also not greedy.

Sold a bit late last year to get a new car. Thats all.

Thats was my plan for bitcoin. To use it for extra perks. If I need a new car, I can get a nicer car. Go on vacation? Go first class. Etc

Dont wanna be a gazillionaire. Too many problems. Too many people start calling you :lmao

[SpursforSix]

Coulda woulda. I dont dwell

Im also not greedy.

Sold a bit late last year to get a new car. Thats all.

Thats was my plan for bitcoin. To use it for extra perks. If I need a new car, I can get a nicer car. Go on vacation? Go first class. Etc

Dont wanna be a gazillionaire. Too many problems. Too many people start calling you :lmao

You don't dwell but you're calling out some other dude for selling too low. You made the same mistake going the other way.
I agree it's not good to dwell. We all could have bought Amazon or Apple years ago. But the fact you're still buying and seemingly not understanding what you're doing should be concerning to you.
People go broke holding investments because they think it'll always go back up. And not realizing the opportunity cost of not getting out and doing other things with the money.

[Thread]

Always comes back to but 4-FOUR-4 letters...FDIC

[ElNono]

You don't dwell but you're calling out some other dude for selling too low. You made the same mistake going the other way.
I agree it's not good to dwell. We all could have bought Amazon or Apple years ago. But the fact you're still buying and seemingly not understanding what you're doing should be concerning to you.
People go broke holding investments because they think it'll always go back up. And not realizing the opportunity cost of not getting out and doing other things with the money.

He don't admit to making mistakes...

cue :lmao

[Will Hunting]

Bitcoin down another 5% today :lmao

[ChumpDumper]

:lol hater's gonna buy another car!

[hater]

:lmao :tu

https://twitter.com/LinaSeiche/status/1537498712166912000

[hater]

Bitcoin down another 5% today :lmao

:tu

Buying 1 coin at 15k

2 at 10k

And 4 at 5k :D

[Ef-man]

Boomer hater hanging on to his beanie babies too! :lmao :lmao :lmao

[Winehole23]

https://pbs.twimg.com/media/FVciFuVWYAAlLsR?format=jpg&name=360x360 (https://twitter.com/BTCTN/status/1537493243222532096)

[DMC]

I don't take pleasure in people losing money but it's nice to see the "it's digital gold" myth put to rest

I'm never going to play with it but there's probably a chance to make a lot of money once it finds a bottom, wherever that is.

But everyone needs blockchain.

[SpursforSix]

I don't take pleasure in people losing money but it's nice to see the "it's digital gold" myth put to rest

I'm never going to play with it but there's probably a chance to make a lot of money once it finds a bottom, wherever that is.

If it keeps falling, I'll take a shot at some point unless it's clearly a failure. If it levels out from a technical standpoint, I might take a shot on a coin or two.

[SpursforSix]

:tu

Buying 1 coin at 15k

2 at 10k

And 4 at 5k :D

Your Ethiopian dildo gets more expensive by the day. Did you pull the trigger on it?

[InRareForm]

Been adding to avalanche every week. Will buy some btc at 18k if it goes there

[SpursforSix]

Been adding to avalanche every week. Will buy some btc at 18k if it goes there

Based on what? It doesn't look like there's any support until maybe 11,000 or so. If you like 18k, I don't see why you wouldn't just make your buy here at 20k.

[SnakeBoy]

If it keeps falling, I'll take a shot at some point unless it's clearly a failure. If it levels out from a technical standpoint, I might take a shot on a coin or two.

I don't know much about the whole market but I think bitcoin and ethereum have a future. If they get low enough I might be tempted to put something on them, probably just an etf not the actual coinage, blockchains, whatever they're called.

[SpursforSix]

I don't know much about the whole market but I think bitcoin and ethereum have a future. If they get low enough I might be tempted to put something on them, probably just an etf not the actual coinage, blockchains, whatever they're called.

That's my guess as well. And and etf is probably the way to go. I just have not clue right now where the bottom is. I probably won't buy in until I see some sense of support and some upward movement. Maybe just grab a basket of out of the money options if that's even a thing for crypto.

[SnakeBoy]

That's my guess as well. And and etf is probably the way to go. I just have not clue right now where the bottom is. I probably won't buy in until I see some sense of support and some upward movement. Maybe just grab a basket of out of the money options if that's even a thing for crypto.

I looked at bitcoin chart. I'm in at $3500...maybe :lol

[hater]

Your Ethiopian dildo gets more expensive by the day. Did you pull the trigger on it?

Your mom ordered the whole lot nig

Seems shes lonely while you are out of town :lmao

[hater]

It doesn't look like there's any support until maybe 11,000 or so.

:lmao talking out that ass again :lmao

[SpursforSix]

I looked at bitcoin chart. I'm in at $3500...maybe :lol

Yeah...I see that. But I'd sure want to see some confirmation and some rebound. After that, it looks like 1000.

[SpursforSix]

:lmao talking out that ass again :lmao

I'd probably be nuts also if I watched a couple hundred thousand evaporate when I had all the signs to get the fuck out.

[hater]

I looked at bitcoin chart. I'm in at $3500...maybe :lol

:lmao

You will never get in nig

See this chart. Youll be in group 1 :lol

https://twitter.com/LinaSeiche/status/1537498712166912000

[SpursforSix]

:lmao talking out that ass again :lmao

taking out two year lows you mean. have you even glanced at the fucking chart?

[hater]

https://twitter.com/pete_rizzo_/status/1537775895188017152


:tu

[Ef-man]

taking out two year lows you mean. have you even glanced at the fucking chart?

Hater also believes beanie babies will go up in value too! :lmao

[SpursforSix]

:lmao

You will never get in nig

See this chart. Youll be in group 1 :lol

https://twitter.com/LinaSeiche/status/1537498712166912000

Based on the chart in the pics, that's the group I'd want to be in.

[ChumpDumper]

https://twitter.com/pete_rizzo_/status/1537775895188017152


:tuThat's why Bitcoin will likely fail sometime in the future. Too easy to design something better.

[ElNono]

Based on the chart in the pics, that's the group I'd want to be in.

:lol

[SpursforSix]

Ru Roh. There goes 20,000.

[Trill Clinton]

Eth under a 1000. Been praying for an opportunity to buy at these prices.

[hater]

Eth under a 1000. Been praying for an opportunity to buy at these prices.

:tu

Anyone that has cash these days is a lucky mofo can go on shopping spree :tu

[InRareForm]

When this goes up its going to go up big time. Green candles for days. It's just a matter of time (btc)

[InRareForm]

Solana is holding up well relatively to btc and eth %'s. What ever alt coins survive this, there will be a lot of wealthy people whom stacked on the way down.

Adding more Solana.

[hater]

When this goes up its going to go up big time. Green candles for days. It's just a matter of time (btc)

:tu

[hater]

Solana is holding up well relatively to btc and eth %'s. What ever alt coins survive this, there will be a lot of wealthy people whom stacked on the way down.

Adding more Solana.

Shopping cart full of Eth :tu

[spurraider21]

Eth under a 1000. Been praying for an opportunity to buy at these prices.


:tu

Anyone that has cash these days is a lucky mofo can go on shopping spree :tu


When this goes up its going to go up big time. Green candles for days. It's just a matter of time (btc)
This is a religion

[hater]

This is a religion

:tu

[Reck]

When this goes up its going to go up big time. Green candles for days. It's just a matter of time (btc)

Wasn’t it said bitcoin would never dip below..19,000 was it? That shit is well below 18 even.

[InRareForm]

Who said that?

And if you are not buying I don't blame you, it's too volatile and lot of uncertainty right now. But really what better chart setup are you looking for before buying for the risk reward.

[hater]

Wasn’t it said bitcoin would never dip below..19,000 was it? That shit is well below 18 even.

Who said that, Nancy?

[hater]

Who said that?

And if you are not buying I don't blame you, it's too volatile and lot of uncertainty right now. But really what better chart setup are you looking for before buying for the risk reward.

If u scared dont hold.


The Network dont give a fuck about your feelings.

[Reck]

Who said that?

And if you are not buying I don't blame you, it's too volatile and lot of uncertainty right now. But really what better chart setup are you looking for before buying for the risk reward.


Who said that, Nancy?


Bitcoin, the most popular cryptocurrency, fell below the psychologically important threshold, dropping as much as 9% to less than $19,000, according to CoinDesk.

https://www.washingtonpost.com/business/bitcoin-drops-below-20000-as-crypto-selloff-quickens/2022/06/18/5a688a7a-ef00-11ec-9f90-79df1fb28296_story.html

Saw the same line of thinking on multiple articles. I'm not a crypto bro so I'm not up to date with the terms you guys use for the danger zone or fall off.

[Dick Jones]

https://www.washingtonpost.com/business/bitcoin-drops-below-20000-as-crypto-selloff-quickens/2022/06/18/5a688a7a-ef00-11ec-9f90-79df1fb28296_story.html

Saw the same line of thinking on multiple articles. I'm not a crypto bro so I'm not up to date with the terms you guys use for the danger zone or fall off.
But you’re well aware of how Mambo No 5 goes :lmao

[hater]

https://www.washingtonpost.com/business/bitcoin-drops-below-20000-as-crypto-selloff-quickens/2022/06/18/5a688a7a-ef00-11ec-9f90-79df1fb28296_story.html

Saw the same line of thinking on multiple articles. I'm not a crypto bro so I'm not up to date with the terms you guys use for the danger zone or fall off.

So some tool said something and?

:lmao

Best time to buy is NOW

Cha ching!

[ElNono]

Please listen to hater and rmt, keep buying crypto, tbh... don't forget to buy NFTs as well, they're in the blockchain.

If you just lost 100k, don't despair, just buy more. If you scared, buy a pet.

[SpursforSix]

Please listen to hater and rmt, keep buying crypto, tbh... don't forget to buy NFTs as well, they're in the blockchain.

If you just lost 100k, don't despair, just buy more. If you scared, buy a pet.

Idk. My financial advisor just told me the network doesn’t care about my feelings. I’m loading up. If I don’t sell, I can’t lose money. If it goes to $5, I can really lower my average price per share.

[SpursforSix]

10758514 (tel:10758514)[/URL]]Who said that?

And if you are not buying I don't blame you, it's too volatile and lot of uncertainty right now. But really what better chart setup are you looking for before buying for the risk reward.

What? “Better chart set up”? There’s no confirmation of a bottom. And there’s really no support levels until much lower. Maybe the psychological level of $10,000. But $20,000 didn’t hold. I wouldn’t touch this until it’s clearly going up. I’m fine missing out on a few thousand dollars per coin if my risk is reduced. If it’s going to $100,000, I won’t care if I bought it at $20,000 on the way up instead of trying to pick a bottom at $17,000.

[spurraider21]

Please listen to hater and rmt, keep buying crypto, tbh... don't forget to buy NFTs as well, they're in the blockchain.

If you just lost 100k, don't despair, just buy more. If you scared, buy a pet.
“You should buy bitcoin because blockchain has some cool potential applications” has always been the funniest pitch

[SpursforSix]

“You should buy bitcoin because blockchain has some cool potential applications” has always been the funniest pitch

Sold. I’m all in.

[ChumpDumper]

Bitcoin has the potential to process transactions 8000 times slower than Visa! It's the future!

[Robz4000]

Personally I hope this is just a dip and crypto bounces back since I have a few friends pretty deeply invested, but I never saw the draw in a currency that has no real irl value.

[hater]

Please listen to hater and rmt, keep buying crypto, tbh... don't forget to buy NFTs as well, they're in the blockchain.

If you just lost 100k, don't despair, just buy more. If you scared, buy a pet.

If u scared dont hold.


The Network dont give a fuck about ur feelings.

[ElNono]

If u scared dont hold.

The Network dont give a fuck about ur feelings.

The network itself doesn't trade. It has no influence on the artificial price of the currency. It's the same network whether the coin is worth $1 or $200k.

This is the kind of stuff that, you know, makes sense to understand before you invest in things like this.

[hater]

The network itself doesn't trade. It has no influence on the artificial price of the currency. It's the same network whether the coin is worth $1 or $200k.

This is the kind of stuff that, you know, makes sense to understand before you invest in things like this.


If u scared dont hold.


The Network dont give a fuck about ur feelings.

[Winehole23]

*scratches head*

1539099863555751936

[hater]

La Gozadera. :lmao


Finally proud to be Colombian :tu

https://twitter.com/BitcoinMagazine/status/1539189786086453249

[ElNono]

Three Arrows Capital, a Prominent Crypto Hedge Fund, Defaults on a $670 Million Loan

Prominent crypto hedge fund Three Arrows Capital has defaulted on a loan (https://www.cnbc.com/2022/06/27/three-arrows-capital-crypto-hedge-fund-defaults-on-voyager-loan.html) worth more than $670 million. Digital asset brokerage Voyager Digital issued a notice on Monday morning, stating that the fund failed to repay a loan of $350 million in the U.S. dollar-pegged stablecoin, USDC, and 15,250 bitcoin, worth about $323 million at today's prices.

From a report: 3AC's solvency crunch comes after weeks of turmoil in the crypto market, which has erased hundreds of billions of dollars in value. Bitcoin and ether are both trading slightly lower in the last 24 hours, though well off their all-time highs. Meanwhile, the overall crypto market cap sits at about $950 billion, down from around $3 trillion at its peak in Nov. 2021. Voyager said it intends to pursue recovery from 3AC (Three Arrows Capital). In the interim, the broker emphasized that the platform continues to operate and fulfill customer orders and withdrawals. That assurance is likely an attempt to contain fear of contagion through the wider crypto ecosystem. "We are working diligently and expeditiously to strengthen our balance sheet and pursuing options so we can continue to meet customer liquidity demands," said Voyager CEO Stephen Ehrlich.

[spurraider21]

1542214109546127363

[Trill Clinton]

ETH up 62% in the last month:toast

[hater]

:lmao Fiatards :lol

https://twitter.com/saylor/status/1552386491883610113

[ChumpDumper]

:lmao Fiatards :lol

https://twitter.com/saylor/status/1552386491883610113

How much value has your bitcoin lost, hater?

[Winehole23]

https://pbs.twimg.com/media/Fd_Y1OhXkAAlhQm?format=png&name=900x900

[rmt]

Please listen to hater and rmt, keep buying crypto, tbh... don't forget to buy NFTs as well, they're in the blockchain.

If you just lost 100k, don't despair, just buy more. If you scared, buy a pet.

I come to SpursTalk after so long away and see my name mentioned (erroneously) - LOL. FYI, I haven't bought bitcoin since back in 2015 when it was in the $400-800? range. I have been buying ethereum recently though. And I would never buy NFTs.

NOW is the time to buy practically any asset (not real estate yet - that'll be next).

[ChumpDumper]

I come to SpursTalk after so long away and see my name mentioned (erroneously) - LOL. FYI, I haven't bought bitcoin since back in 2015 when it was in the $400-800? range. I have been buying ethereum recently though. And I would never buy NFTs.

NOW is the time to buy practically any asset (not real estate yet - that'll be next).
You said you sold bitcoin in 2018. When did you buy?

[ElNono]

I come to SpursTalk after so long away and see my name mentioned (erroneously) - LOL. FYI, I haven't bought bitcoin since back in 2015 when it was in the $400-800? range. I have been buying ethereum recently though. And I would never buy NFTs.

NOW is the time to buy practically any asset (not real estate yet - that'll be next).

:lol nothing erroneous. You were recommending this in 2021... and you were wrong...


Crypto is here to stay - as long as there is PERCEIVED value and therefore demand for it. At this point, there is too much invested in it - whenever bitcoin (or ethereum) falls a bit, the money comes in to buy them.

Now, don't we wish ETH would fall back to $1700s so we could buy more :-)

[Blake]

Lol it's in the 1300s. She must be buying it up by the truck load

[Winehole23]

1585347932361924608

[Blake]

1548497009698426881

[Spurminator]

1585347932361924608

Bitcoin whales bought entire campaigns so the masses would help them offload their overpriced Bitcoin. Pretty genius.

[spurraider21]

ive been saying this has always felt like a big pump and dump

[Winehole23]

1590718501639323648

[Winehole23]

https://pbs.twimg.com/media/FhJZok5aUAI_RME?format=jpg&name=900x900



https://www.nakedcapitalism.com/wp-content/uploads/2022/11/sequoia.pnghttps://www.wsj.com/articles/sec-investigates-crypto-platform-ftx-11668020379

[steak n eggs]

Uh oh. There goes Joe’s second biggest donor.

[Winehole23]

Uh oh. There goes Joe’s second biggest donor.

easy come easy go.

are you an 8chan guy?

https://pbs.twimg.com/media/FhO1Y0iVEAACX-u?format=png&name=small

[Winehole23]

https://pbs.twimg.com/media/FhNpO5FWYAYohON?format=png&name=small

[Winehole23]

https://pbs.twimg.com/media/FhSf1HjWAAIxGe2?format=png&name=small

[steak n eggs]

easy come easy go.

are you an 8chan guy?

https://pbs.twimg.com/media/FhO1Y0iVEAACX-u?format=png&name=small

I'm not sure what 8chan is or what you are getting at. I know I joked about Joe's donors but I'm fairly certain most of our government leadership, right or left, doesn't give a second thought about the average American citizen. Most of them go there to enrich themselves by whatever means necessary. I'm sure there is money to be made regardless of what side of the aisle you sit as long as you turn a blind eye to the distasteful parts of whatever the lobbyist needs. I'm pretty disillusioned with all of it at this point. I'd be all for term limits but the people that have to approve them are the people that don't want them.

[boutons_deux]

The criminal collapse of FTX is spreading contagion to other crypto operators

[SpursforSix]

I'm not sure what 8chan is or what you are getting at. I know I joked about Joe's donors but I'm fairly certain most of our government leadership, right or left, doesn't give a second thought about the average American citizen. Most of them go there to enrich themselves by whatever means necessary. I'm sure there is money to be made regardless of what side of the aisle you sit as long as you turn a blind eye to the distasteful parts of whatever the lobbyist needs. I'm pretty disillusioned with all of it at this point. I'd be all for term limits but the people that have to approve them are the people that don't want them.

Agree with this. At the end of the day, politicians are the same as most people. Take care of yourself first.

[Spurminator]

I'm not sure what 8chan is or what you are getting at. I know I joked about Joe's donors but I'm fairly certain most of our government leadership, right or left, doesn't give a second thought about the average American citizen. Most of them go there to enrich themselves by whatever means necessary. I'm sure there is money to be made regardless of what side of the aisle you sit as long as you turn a blind eye to the distasteful parts of whatever the lobbyist needs. I'm pretty disillusioned with all of it at this point. I'd be all for term limits but the people that have to approve them are the people that don't want them.

I hear this kind of thing a lot from conservatives, and then they still go and vote straight ticket for the party that opposes campaign finance reform and any other efforts to prevent politicians from enriching themselves.

[hater]

HOLD!!!!!

[Winehole23]

Hoosegow.

$1B of customer funds also went poof.

1591292447656665089

[Winehole23]

1591439581336969217

[steak n eggs]

Sounds like these people were playing a major shell game. Have they been all arrested yet? Plus the fact that they were connected to some pretty powerful people is interesting. If crypto had any positive reputation left, it's pretty much gone imo. I'll admit I thought it was viable and a technology that had potential but now I'm not so sure. I had an account on another exchange but removed my banking info from it due to now having zero trust. It may come back one day but it will have to be regulated. The fact that 10 billion dollars just went poof is insane. I can't believe someone would put all of their money on an exchange like that anyway. I think the lesson here is tangible assets or assets that truly produce something only.

[Winehole23]

Sounds like these people were playing a major shell game. Have they been all arrested yet? Plus the fact that they were connected to some pretty powerful people is interesting. If crypto had any positive reputation left, it's pretty much gone imo. I'll admit I thought it was viable and a technology that had potential but now I'm not so sure. I had an account on another exchange but removed my banking info from it due to now having zero trust. It may come back one day but it will have to be regulated. The fact that 10 billion dollars just went poof is insane. I can't believe someone would put all of their money on an exchange like that anyway. I think the lesson here is tangible assets or assets that truly produce something only.Reportedly SBF and a couple of FTX associates have been detained in the Bahamas.

SBF was never able to clearly explain how FTX made money. The apparent "hacking" of customer accounts makes it clear they dipped into other people's money first to leverage up while the company was viable, and then to grant themselves stake money when it all blew up.

[Winehole23]

https://cointelegraph.com/news/sam-bankman-fried-is-under-supervision-in-bahamas-looking-to-flee-to-dubai

[vy65]

Hoosegow.

$1B of customer funds also went poof.

1591292447656665089


The documents showed that between $1 billion and $2 billion of these funds were not accounted for among Alameda's assets, the sources said. The spreadsheets did not indicate where this money was moved, and the sources said they don't know what became of it.

In a subsequent examination, FTX legal and finance teams also learned that Bankman-Fried implemented what the two people described as a "backdoor" in FTX's book-keeping system, which was built using bespoke software.

They said the "backdoor" allowed Bankman-Fried to execute commands that could alter the company's financial records without alerting other people, including external auditors. This set-up meant that the movement of the $10 billion in funds to Alameda did not trigger internal compliance or accounting red flags at FTX, they said.

I mean, just wow …

[Trainwreck2100]

Not your coins, not your crypto

[steak n eggs]

A lot of noise about getting your money off of crypto.com now too. Apparently they had sent 1 Billion dollars in stable coins to FTX before the collapse. They're claiming they only lost 10 Million so who knows at this point. I'd be leery of any of these exchanges right now.

[hater]

:lmao

Ukraine :lol

https://twitter.com/WallStreetSilv/status/1591896699660046336

[hater]

Just moved ALL my bitcoin to cold wallet nigs.

The house of cards is gonna crash HARD

[hater]

https://twitter.com/shipwreckshow/status/1591607157149290497

[hater]

:lmao

https://twitter.com/grandoldmemes/status/1591675180010868739

[ChumpDumper]

lol don't forget the adrenochrome, hater

[ElNono]

https://twitter.com/shipwreckshow/status/1591607157149290497

:lmao the Soros entry, a nice touch
:lmao Magatards

[Blake]

You only lose if u sell. So zero :lol

Lot of my coins were bought in 2020 when it was 20k anyway :lmao


Sure but I was always on for the long term. Minimum 10 years.

In 2030 well see where we are :lmao


"Long term" doesn't mean ignoring taking profit and re-buying. The brokerage houses have made billions by pushing holding and dollar cost averaging.


Yeah thats called greed in my book. Thabk God I dont do that


You're either executing a great troll job or you're totally ignorant.


If you cash out at 15k, how much would you lose?


Why? Im not greedy. Im good with a 10 year wait.

Cheers :tu


Zero. Im not cashing out

Cheers :tu


If it goes down to 15k, how much value of your holdings will you have lost comparing it to the dollar at that moment?


I don't know how much Bitcoin you have. From what you've said, it's several. You should be laughing at yourself for forgoing $100,000+ in profits.

Lol

[Blake]

Just moved ALL my bitcoin to cold wallet nigs.

The house of cards is gonna crash HARD

Lol

[Blake]

Bitcoin down another 5% today :lmao


:lol hater's gonna buy another car!

Lol

[hater]

Still got my bitcoin in Cold Storage :tu


HOLD!!!!!

[hater]

https://twitter.com/nayibbukele/status/1591951579930058752

[Winehole23]

https://external-preview.redd.it/-4c_LpqeMjdEmHvqsoaAQid2eyWPfBJDzLzB-qpDMPI.jpg?auto=webp&fa2b9b1ahttps://i.pinimg.com/236x/84/9f/94/849f947d5805a341fd0ef80907d79127.jpghttps://external-preview.redd.it/-4c_LpqeMjdEmHvqsoaAQid2eyWPfBJDzLzB-qpDMPI.jpg?auto=webp&fa2b9b1a

[spurraider21]

1593712689553244160

[SpursforSix]

HOLD!!!!!

You can tell yourself whatever you want. "Can't lose money if I don't sell.".
Nigga, when BitCoin was at $60,000, that was your fucking money. Doesn't matter what you spent on it. That was yours.
You weren't playing with house money, you were playing with your own money. And you cocked it up.

[hater]

You can tell yourself whatever you want. "Can't lose money if I don't sell.".
Nigga, when BitCoin was at $60,000, that was your fucking money. Doesn't matter what you spent on it. That was yours.
You weren't playing with house money, you were playing with your own money. And you cocked it up.

Im good. Invested most of my coin i. 2018 so still looking good.

HOLD!

[Winehole23]

1596909790764371970

[velik_m]

Crypto firm BlockFi files for bankruptcy as FTX fallout spreads

Distressed crypto firm BlockFi has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of New Jersey following the implosion of putative acquirer FTX.

In the filing, the company indicated that it had more than 100,000 creditors, with liabilities and assets ranging from $1 billion to $10 billion.

In the filing, the company listed an outstanding $275 million loan to FTX US, the American arm of Sam Bankman-Fried’s now-bankrupt empire.

A BlockFi subsidiary also moved for bankruptcy in Bermuda concurrently with the American filing.

...


https://www.cnbc.com/2022/11/28/blockfi-files-for-bankruptcy-as-ftx-fallout-spreads.html

[Winehole23]

https://www.cnbc.com/2022/11/28/blockfi-files-for-bankruptcy-as-ftx-fallout-spreads.htmlFTX's bailout of BlockFi last summer had the press calling SBF "the JP Morgan of crypto."

[InRareForm]

https://www.linkedin.com/posts/andrewmarkaxelrod_bitcoin-banking-money-activity-7001592324845662208-jrf2

Good read tbh

[Winehole23]

Awesome takedown in this article, by contrast NYT and WSJ are treating SBF with kid gloves. It's even more remarkable that SBF is blabbing to everyone about it.


Perhaps most perniciously, many outlets have described what happened to FTX as a “bank run” or a “run on deposits,” while Bankman-Fried has repeatedly insisted the company was simply overleveraged and disorganized. Both of these attempts to frame the fallout obfuscate the core issue: the misuse of customer funds.

Banks can be hit by “bank runs” because they are explicitly in the business of lending customer funds out to generate returns. They can experience a short-term cash crunch if everyone withdraws at the same time, without there being any long-term problem.

But FTX and other crypto exchanges are not banks. They do not (or should not) do bank-style lending, so even a very acute surge of withdrawals should not create a liquidity strain. FTX had specifically promised customers it would never lend out or otherwise use the crypto they entrusted to the exchange.

In reality, the funds were sent to the intimately linked trading firm Alameda Research, where they were, it seems, simply gambled away. This is, in the simplest terms, theft at a nearly unprecedented scale. While the total losses have yet to be quantified, up to one million customers could be impacted, according to a bankruptcy document.

In less than a month, reporting and the bankruptcy process have uncovered a laundry list of further decisions and practices that would constitute financial fraud if FTX had been a U.S. regulated entity – even without any crypto-specific rules at play.

https://www.coindesk.com/layer2/2022/11/30/ftxs-collapse-was-a-crime-not-an-accident/

[ElNono]

Awesome takedown in this article, by contrast NYT and WSJ are treating SBF with kid gloves. It's even more remarkable that SBF is blabbing to everyone about it.

https://www.coindesk.com/layer2/2022/11/30/ftxs-collapse-was-a-crime-not-an-accident/

Banks can be hit by “bank runs” because they are explicitly in the business of lending customer funds out to generate returns. They can experience a short-term cash crunch if everyone withdraws at the same time, without there being any long-term problem.

This is false. Bank runs can effectively bankrupt a bank. This is why the FDIC was created, such that it would partially protect depositors if that happened.

The issue with FTX is that being unregulated, what ends up applying are their terms of service, which is an actual contract. I've no idea what they looked like, but they can conceivable shield them with the right language.

[Winehole23]

Banks can be hit by “bank runs” because they are explicitly in the business of lending customer funds out to generate returns. They can experience a short-term cash crunch if everyone withdraws at the same time, without there being any long-term problem.

This is false. Bank runs can effectively bankrupt a bank. This is why the FDIC was created, such that it would partially protect depositors if that happened.

The issue with FTX is that being unregulated, what ends up applying are their terms of service, which is an actual contract. I've no idea what they looked like, but they can conceivable shield them with the right language.yeah, that part was a dumb take. still, we're looking at a Madoff scale caper here

[ElNono]

yeah, that part was a dumb take. still, we're looking at a Madoff scale caper here

I'm not so sure. Madoff was an easy target because he ran a ponzi scheme on regulated markets. I'm not privy to the contractual relationship between FTX and it's customers, but it'll likely boil down to that.

[Winehole23]

I'm not so sure. Madoff was an easy target because he ran a ponzi scheme on regulated markets. I'm not privy to the contractual relationship between FTX and it's customers, but it'll likely boil down to that.Ethically speaking, SBF is little different from Madoff in my mind, but you're right that the legal responsibilities are different; crypto shit isn't regulated the same way, so it'll likely come down more to the way the deals are written than what the law allows or prohibits.

[ElNono]

Ethically speaking, SBF is little different from Madoff in my mind, but you're right that the legal responsibilities are different; crypto shit isn't regulated the same way, so it'll likely come down more to the way the deals are written than what the law allows or prohibits.

I mean, you could still sue in civil court for a number of things, like misrepresentation, fraud, etc. But the criminal angle isn't super clear to me just yet.

[CosmicCowboy]

SBF's problem is he comingled investors funds in FTX with Alameda, his trading "bank". He used FTX investors money to pay for losses at Alameda. Big no no. He will eventually be indicated for fraud.

As for crypto, I'm glad I only dabbled in it with 10K. I converted back to cash this year and will write down the losses on my taxes this year.

[spurraider21]

but guys da blockchainz can be used for medical records and contracts therefore you should scoop up bitcoin and eth!

[velik_m]

1602446984090107905

[velik_m]

Crypto exchange Binance freezes withdrawals of stablecoin USDC as rattled investors pull $2 billion in funds (https://markets.businessinsider.com/news/currencies/crypto-binance-freeze-usdc-withdrawals-changpeng-zhao-cz-ftx-collapse-2022-12)

[hater]

Crypto exchange Binance freezes withdrawals of stablecoin USDC as rattled investors pull $2 billion in funds (https://markets.businessinsider.com/news/currencies/crypto-binance-freeze-usdc-withdrawals-changpeng-zhao-cz-ftx-collapse-2022-12)

Only co.plete retards still have coins in the exchanges :lol


Took my shit out months ago. Its in a cold wallet in a safe right now :tu

[clambake]

If u scared dont hold.


The Network dont give a fuck about ur feelings.damn lol

[hater]

damn lol

Yup keeping it in cold wallet IS HOLDING. Only differnce is I keep my private key. Noone else :tu

Dumbo

:lmao


If you scared domt hold.


The network dont give a fuck about your feelings :tu

[boutons_deux]

SBF's awful day

Sam Bankman-Fried has suffered a rough day, directly challenging

his characterizations of himself as well-meaning but in over his head.



The SEC filed civil charges (https://link.axios.com/click/29973448.335541/aHR0cHM6Ly93d3cuYXhpb3MuY29tLzIwMjIvMTIvMTMvc2FtLW JhbmttYW4tZnJpZWQtZnJhdWQtY2hhcmdlcy1mdHg_dXRtX3Nv dXJjZT1uZXdzbGV0dGVyJnV0bV9tZWRpdW09ZW1haWwmdXRtX2 NhbXBhaWduPW5ld3NsZXR0ZXJfYXhpb3NwbSZzdHJlYW09dG9w/6004bc4704300c1ae269be66Bbbf16e66) against him, alleging he "built a house of cards on a foundation of deception" to defraud investors.
The U.S. government filed eight criminal charges (https://link.axios.com/click/29973448.335541/aHR0cHM6Ly9hcG5ld3MuY29tL2FydGljbGUvY3J5cHRvY3Vycm VuY3ktdGVjaG5vbG9neS1idXNpbmVzcy11bml0ZWQtc3RhdGVz LWdvdmVybm1lbnQtdXMtc2VjdXJpdGllcy1hbmQtZXhjaGFuZ2 UtY29tbWlzc2lvbi0zMmQyNzAxNjM1MGUzZTE3NWM1MDBlZWVm YWYyYWE0ZD91dG1fc291cmNlPWhvbWVwYWdlJnV0bV9tZWRpdW 09VG9wTmV3cyZ1dG1fY2FtcGFpZ249cG9zaXRpb25fMDEmc3Ry ZWFtPXRvcA/6004bc4704300c1ae269be66Bf4501e3c) — ranging from wire fraud to illegal campaign contributions, alleging that Bankman-Fried's wrongful conduct started as early as 2019.
His successor at FTX told Congress that what he discovered upon taking the helm is "plain, old-fashioned embezzlement."
A lawyer for Bankman-Fried said he is “reviewing the charges with his legal team and considering all of his legal options."


The bottom line:

We're looking at "one of the biggest financial frauds in American history,"

-- AXIOS email

[ChumpDumper]

Yup keeping it in cold wallet IS HOLDING. Only differnce is I keep my private key. Noone else :tu

Dumbo

:lmao


If you scared domt hold.


The network dont give a fuck about your feelings :tuHow much value have you lost since you bought your last coin?

[Leetonidas]

Glad they finally nailed SBF. Sickening how the media was treating him like he wasn't a criminal stealing billions of dollars from people

[Ef-man]

How much value have you lost since you bought your last coin?

He has at least five Beanie-Babies worth of crypto, people say, bigly.

[hater]

How much value have you lost since you bought your last coin?

Nothing


U only lose if u sell :tu

[MultiTroll]

This little bitch here is/was 100 in bed with FTX and Fried man.
https://content.fortune.com/wp-content/uploads/2022/11/GettyImages-1424028312.jpg?w=1440&q=75
Big dog n pony show put on todays as Congress questions him. Phuck a good portion of them are in on it too so don't expect shit to happen to this SEC Chair Gary Gensler.

Link:
Gary Gensler under pressure over FTX debacle | Fortune (https://fortune.com/crypto/2022/11/16/sec-chair-gary-gensler-in-a-corner-as-congress-seeks-answers-over-ftx-mess/)

Kinda looks like Mr. Burns too.

[spurraider21]

1602721258877100032

[spurraider21]

Glad they finally nailed SBF. Sickening how the media was treating him like he wasn't a criminal stealing billions of dollars from people
1602708382074519552
1602710612483739649

[boutons_deux]

the exchanges and lenders are distressed

the fake/fraud coins are probably dead

but lots of coins that have been low for a few months, have not really gone lower

[boutons_deux]

FTX hearing: 6 big revelations from House panel questioning


https://thehill.com/policy/finance/3773834-ftx-hearing-6-big-revelations-from-house-panel-questioning

[Leetonidas]

1602708382074519552
1602710612483739649

What does that chode Elon musk have to do with what I said :lol I didn't say there wasn't an investigation. But this dude should have been getting blasted by the media and he hasn't been

I also don't have a Twitter and my usage is limited to whatever is posted here or realgm basically

[GAustex]

Dude is gonna suicide

[MultiTroll]

Dude is gonna suicide
Or get Epstein *suicided*?

SECs extreme corruption....Friedman may get off'd.
Pretty sure tho the sleazeball Congress will have this be just another dog n pony show. No consequences what so ever.

[spurraider21]

What does that chode Elon musk have to do with what I said :lol I didn't say there wasn't an investigation. But this dude should have been getting blasted by the media and he hasn't been

I also don't have a Twitter and my usage is limited to whatever is posted here or realgm basically
where is the media treating him with kid gloves. presumably that same media would be up in arms about him being wrongfully arrested/charged

[hater]

where is the media treating him with kid gloves. presumably that same media would be up in arms about him being wrongfully arrested/charged

Has this story ever been in cnn or nbc frontpage for 2 days straight???

Nope


Thats kid gloves.


This should be biggest story of end of 2022


Its bigger than Enron

Think about that

[ChumpDumper]

Nothing


U only lose if u sell :tu

That wasn't the question.

hater folds.:tu

[spurraider21]

Has this story ever been in cnn or nbc frontpage for 2 days straight???

Nope


Thats kid gloves.


This should be biggest story of end of 2022


Its bigger than Enron

Think about that
i dont track whats on the front page on a daily basis. but this guy has been one of the most talked about stories for the last month+ that i can think of

[Blake]

Nothing


U only lose if u sell :tu

Lol trying to act cool.

You either didn't invest shit or you've lost it. You can't say now you've had it under the bed this whole time

[hater]

i dont track whats on the front page on a daily basis. but this guy has been one of the most talked about stories for the last month+ that i can think of

More than the Eron story back then?ok then I stand corrected :tu

[hater]

Lol trying to act cool.

You either didn't invest shit or you've lost it. You can't say now you've had it under the bed this whole time

Sure, Jan

[ChumpDumper]

Sure, Jan

:lol hater folds

[Joseph Kony]

where is the media treating him with kid gloves. presumably that same media would be up in arms about him being wrongfully arrested/charged

he was barely mentioned in a negative way until the last couple days. look up articles about him from weeks ago or longer and you wont see anything about him being a criminal that stole billions from FTX users. when did anyone say he was wrongfully arrested? there is a difference between pointing out the msm not painting him as the piece of shit he is and claiming they are defending him as innocent or something :lol

[Joseph Kony]

before they actually arrested his ass, this was being treated as "lol see crypto is a scam" and not that Bankman-fried scammed his customers to pay for lavish orgies and shit

[spurraider21]

before they actually arrested his ass, this was being treated as "lol see crypto is a scam" and not that Bankman-fried scammed his customers to pay for lavish orgies and shit
both are true

[hater]

both are true

What a dumb way to think


Crypto is not a scam. Its like saying the Internet is evil.

Some kindergarten way of thinking imo.

[spurraider21]

More than the Eron story back then?ok then I stand corrected :tu
what happened with Enron and FTX are pretty different... one was bullshit accounting fraud meant to mislead the market and keep their stock unsustainably high. the other appears to be large scale embezzlement. enron was also a company with a market cap twice as big as FTX.

but i dno, my memory of the reporting had been pretty damn negative towards SBF. he was getting roasted for effectively admitting his crimes on twitter. and articles were calling him a villain, etc, for a while.

https://www.cnn.com/2022/11/18/business/ftx-crypto-downfall-explained/index.html
https://www.cnn.com/2022/11/13/business/ftx-bahamas-criminal-investigation/index.html
https://www.cnbc.com/2022/11/15/how-sam-bankman-frieds-ftx-alameda-empire-vanished-overnight.html
https://www.wsj.com/articles/ftx-sam-bankman-fried-sit-in-the-crosshairs-of-u-s-prosecutors-11668398012
https://www.axios.com/2022/11/16/ftx-sam-bankman-fried-incompetence-legal-strategy

these are all from november from a quick google search. i dno what your recollection was of him being coddled. was it his TV interviews or somethin? thats certainly possible. i get 99% of my news from reading print

[spurraider21]

What a dumb way to think


Crypto is not a scam. Its like saying the Internet is evil.

Some kindergarten way of thinking imo.
nah, its a giant pump and dump. other speculative bubbles, like real estate, at least have some underlying value. baseline bum's comparison to tulip bulbs is the most apt

at best its just a gambling mechanism. at best.

this is why all crypto exchanges keep paying celebrities to promote their shit.. but they pay them in cash, not crypto :lol. a number of celebs have been hit with SEC violations for their touting of crypto. including your boy steven seagal

[hater]

what happened with Enron and FTX are pretty different... one was bullshit accounting fraud meant to mislead the market and keep their stock unsustainably high. the other appears to be large scale embezzlement. enron was also a company with a market cap twice as big as FTX.

but i dno, my memory of the reporting had been pretty damn negative towards SBF. he was getting roasted for effectively admitting his crimes on twitter. and articles were calling him a villain, etc, for a while.

https://www.cnn.com/2022/11/18/business/ftx-crypto-downfall-explained/index.html
https://www.cnn.com/2022/11/13/business/ftx-bahamas-criminal-investigation/index.html
https://www.cnbc.com/2022/11/15/how-sam-bankman-frieds-ftx-alameda-empire-vanished-overnight.html
https://www.wsj.com/articles/ftx-sam-bankman-fried-sit-in-the-crosshairs-of-u-s-prosecutors-11668398012
https://www.axios.com/2022/11/16/ftx-sam-bankman-fried-incompetence-legal-strategy

these are all from november from a quick google search. i dno what your recollection was of him being coddled. was it his TV interviews or somethin? thats certainly possible. i get 99% of my news from reading print

Wow 4 articles in novermber. The amount of $ gone eclipses Enron by a lot (thats what I read)

Enron shit was 24/7 on all tv channels for weeks.

It was called the Enron Scandal 100% of the time. When is this shit a scandal?

[spurraider21]

Wow 4 articles in novermber. The amount of $ gone eclipses Enron by a lot (thats what I read)

Enron shit was 24/7 on all tv channels for weeks.

It was called the Enron Scandal 100% of the time. When is this shit a scandal?
im sorry that i didnt copy/paste literally every single article about FTX over the last 2 months. i just posted found a few on the first google page when i filtered for results before december :lol

[spurraider21]

where are you getting your specific numbers on how the $ gone eclipses Enron by a lot?

enron shareholders lost 74 billion and thats not including all the ruiend pension funds for employees that was also in the billions. OTOH, FTX "transferred" 10 billion to alameda

[pgardn]

What a dumb way to think


Crypto is not a scam. Its like saying the Internet is evil.

Some kindergarten way of thinking imo.

Its not a currency.
If you say it is a currency you are a liar.

Its like saying, if I write you a check, it can gain and lose value depending on its intrinsic WHAT?
A currency is used to pay for things that have intrinsic value. A currency does not produce anything.
People hold crypto long term like it will gain value? Thats like thinking a check I write will gain value stashed under my bed.

Crypto could be a currency. But people are NOT USING it like a currency by my understanding.
The only thing backing its intrinsic value is other people thinking it has intrinsic value in and of itself like a check I might write that somehow produces something.
Well the check produces nothing. Its a vehicle for trading because bartering at an open market is a pain in the ass. "I will give you a pumpkin for 3 yellow squash"

[hater]

where are you getting your specific numbers on how the $ gone eclipses Enron by a lot?

enron shareholders lost 74 billion and thats not including all the ruiend pension funds for employees that was also in the billions. OTOH, FTX "transferred" 10 billion to alameda

Im not surecthe #s but heres what I read:


Enron is often seen as the gold standard for corporate fraud, malfeasance, and complacency, with the scandal leading to the largest bankruptcy reorganisation so far in U.S. history.

The Enron scandal triggered a wave of regulatory reform, culminating in the Sarbanes-Oxley Act of 2002 and changes to the NYSE and NASDAQ listing rules.

In the bankruptcy petition for FTX over the FTX collapse, the new CEO shredded FTX, Alameda, and FTX’s former management team. Tellingly, he states:

“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here”

This came from the CEO who oversaw Enron’s bankruptcy.

And it gets worse. It has been revealed that the former CEO (Sam Bankman-Fried, or SBF for short) treated FTX as a ‘personal fiefdom’. FTX money seemed to go to buy property in individuals’ personal names. This involves at least 19 properties in the Bahamas – where FTX is headquartered – worth at least $121 million.

And the contagion has spread. Indeed, even Australian entities – such as Digital Surge – are impacted, having to pause withdrawals. Celebrities are under scrutiny for promoting FTX, and CEOs, like billionaire Elon Musk, are coming out of the woodwork to tell us they knew all along.

https://newsroom.unsw.edu.au/news/business-law/why-collapse-ftx-worse-enron

Read a bunch of articles like this. And this shit is just starting. The contagion will continue for a while who knows how much $ will be gone. All $ that was misused.

[boutons_deux]

Its not a currency.

Crypto could be a currency. But people are NOT USING it like a currency by my understanding.


LTC, for example, is accepted in many places, BTC is also accepted, for payment of goods

[spurraider21]

So none of that says the numbers are bigger than Enron :lol

[ChumpDumper]

Im not surecthe #s but heres what I read:


Enron is often seen as the gold standard for corporate fraud, malfeasance, and complacency, with the scandal leading to the largest bankruptcy reorganisation so far in U.S. history.

The Enron scandal triggered a wave of regulatory reform, culminating in the Sarbanes-Oxley Act of 2002 and changes to the NYSE and NASDAQ listing rules.

In the bankruptcy petition for FTX over the FTX collapse, the new CEO shredded FTX, Alameda, and FTX’s former management team. Tellingly, he states:

“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here”

This came from the CEO who oversaw Enron’s bankruptcy.

And it gets worse. It has been revealed that the former CEO (Sam Bankman-Fried, or SBF for short) treated FTX as a ‘personal fiefdom’. FTX money seemed to go to buy property in individuals’ personal names. This involves at least 19 properties in the Bahamas – where FTX is headquartered – worth at least $121 million.

And the contagion has spread. Indeed, even Australian entities – such as Digital Surge – are impacted, having to pause withdrawals. Celebrities are under scrutiny for promoting FTX, and CEOs, like billionaire Elon Musk, are coming out of the woodwork to tell us they knew all along.

https://newsroom.unsw.edu.au/news/business-law/why-collapse-ftx-worse-enron

Read a bunch of articles like this. And this shit is just starting. The contagion will continue for a while who knows how much $ will be gone. All $ that was misused.

The University of New South Wales is your go-to news source?

[Isitjustme?]

Lol, conspiracy theorists are always such dumbasses

1602664067054829568

1602664181416792065

[Isitjustme?]

1602456012438601729

[hater]

So none of that says the numbers are bigger than Enron :lol

Yeah this is a nothingburger :lmao

[hater]

Bitcoin back to 18k :tu

hold!

[ChumpDumper]

Bitcoin back to 18k :tu

hold!What was it worth when you bought your last coin?

[hater]

What was it worth when you bought your last coin?

#1 I dont remember
#2 thats private information
#3 its none of your fucking business


HOLD!!!!

[ChumpDumper]

Bitcoin back to 18k :tu

hold!

You were bragging you owned 7 coins when they were worth about $45k each. So you didn't sell any and lost quite a bit of value.:tu

[ChumpDumper]

#1 I dont remember
#2 thats private information
#3 its none of your fucking business


HOLD!!!!

You explicitly told us when you bought at least twice. You also told us how many coins you owned.

Why are you so reluctant to brag about your holdings now?

[spurraider21]

Yeah this is a nothingburger :lmao
Just because it’s not as big as Enron doesn’t make it a nothingburger :lol

[hater]

You were bragging you owned 7 coins when they were worth about $45k each. So you didn't sell any and lost quite a bit of value.:tu

Dead wrong. U dont know when I bought. and when I cashed some.

HOLD!

[hater]

You explicitly told us when you bought at least twice. You also told us how many coins you owned.

Why are you so reluctant to brag about your holdings now?

Thats all you need to know

The rest is.... none of your fucking business


HOLD!

[hater]

Just because it’s not as big as Enron doesn’t make it a nothingburger :lol

So it is big


Thanks agree.

[ChumpDumper]

Dead wrong. U dont know when I bought. and when I cashed some.

HOLD!It's exactly right. We know what it was worth when you bragged and what it is worth now. That's the value you lost in that period of time.

And you said you never cash out.

Which is it, hater?


Thats all you need to know

The rest is.... none of your fucking business


HOLD!There's no shame in losing money. Millions of people lost money value holding crypto.

You made it our business bragging about your crypto when it was worth about 3-4x what it is now. That's all we need to know. :tu

[hater]

U only lose if you sell.

HOLD!!!!!

[Ef-man]

What was it worth when you bought your last coin?

The way bitcoins are tanking, the inheritance dreams of boomer kids/grandkids will focus on whatever medications are left in the boomer's medicine cabinet, tbh.

[SpursforSix]

U only lose if you sell.

HOLD!!!!!

sounds like stockbroker language
Can I interest you in dollar cost averaging?

[spurraider21]

So it is big


Thanks agree.
I always agreed it was big :lol

i just didnt really understand the whole "he's being treated with kid gloves" sentiment. they were under investigation basically right away and he's already been arrested within ~1 month of shit going down. seems like pretty swift action.

even dumbfuck musk claimed he's not being investigated because he's a dem donor... after an investigation had already been announced :lmao

[hater]

18.3k!!!!

To da moon!!!!!

[Ef-man]

Trip over, down to 17.8k in less than an hour, hope you enjoyed the ride, come again. :tu

[ChumpDumper]

Trip over, down to 17.8k in less than an hour, hope you enjoyed the ride, come again. :tuBy his own admission he rode it from ~45k to its 65k peak all the way back down to where it is today.

Because he never cashes out.

[Isitjustme?]

#1 I dont remember
#2 thats private information
#3 its none of your fucking business


HOLD!!!!

Is this as ironclad as your categorical statement that Russia will never invade Ukraine??

[ChumpDumper]

Is this as ironclad as your categorical statement that Russia will never invade Ukraine??:lmao he'll never say what he's holding again.

Permanently folded.

Unless it goes back over 45k again, of course.

[Ef-man]

:lmao he'll never say what he's holding again.

Permanently folded.

Unless it goes back over 45k again, of course.

Stack of home movie VHS tapes/music cassette tapes, or a bitcoin wallet. Which will be the most valued boomer inheritance?

[hater]

:lmao weird fatso denied bail :lmao

how convenient

Niga will get Epsteined most likely. And they will try to sweep this under the rug

[ElNono]

sounds like stockbroker language
Can I interest you in dollar cost averaging?

:lol tbh

[Blake]

Thats all you need to know

The rest is.... none of your fucking business


HOLD!

Lol ashamed

[velik_m]

Binance outflows hit $6bn as Mazars halts ‘proof of reserves’ work

Outflows from Binance accelerated to $6bn in the first half of this week, while accounting firm Mazars has halted its work on crucial “proof of reserves” reporting, as the crypto exchange battles to avert a crisis of confidence.
Binance, which suffered $1bn outflows in a single day on Tuesday, is battling to reassure investors of its financial strength following the collapse of rival crypto exchange FTX.
The exchange said on Friday that it had been hit by roughly $6bn in net withdrawls between Monday and Wednesday.
Mazars had produced “proof of reserves” reports for Binance and other exchanges, including Crypto.com and KuCoin, as they rushed to persuade nervous clients that they hold sufficient assets to match all customer deposits.
However, the accounting firm said on Friday that it had “paused its activity relating to the provision of proof of reserves reports for entities in the cryptocurrency sector due to concerns regarding the way these reports are understood by the public”.

...


https://www.ft.com/content/bb50a204-5239-4db0-9964-c3bf9339c594

The post christmas crash of crypto is shaping up nicely.

[pgardn]

LTC, for example, is accepted in many places, BTC is also accepted, for payment of goods

Sure it accepted.
But these things are used as investments as well.
Investments have a path to something with intrinsic value.
Currency does not. If I write you a check its expected to gain or lose value why?
You dont take a check from me as an investment. You take a check from me to get paid. Same with a hundred dollar bill

You dont hold on to a check from me and expect it to gain value because its from me or whoever else. Someone says a check or a hundred dollar bill from me will gain value? You ask why should it

How much money would you pay me to buy a 100 dollar bill from me?

[CosmicCowboy]

The way bitcoins are tanking, the inheritance dreams of boomer kids/grandkids will focus on whatever medications are left in the boomer's medicine cabinet, tbh.

Dunno about that. By the time you are 65 if your net worth is not at least a million you have made some really bad life choices.

[Ef-man]

Dunno about that. By the time you are 65 if your net worth is not at least a million you have made some really bad life choices.

If I remember right, you could afford it and cashed out or wrote off the bitcoin loss, unlike poor ass hater, who is blindly holding onto his coins.

[baseline bum]

If I remember right, you could afford it and cashed out or wrote off the bitcoin loss, unlike poor ass hater, who is blindly holding onto his coins.

hater's not a crypto koolaid drinker, he's trolling your ass.

[Ef-man]

hater's not a crypto koolaid drinker, he's trolling your ass.

Hater trolling? Quite obvious that he not rich, nor educated, nor holding a significant amount of coins, nor here to pump and dump bitcoins.

Please, no one would ever believe hater is anything but an idiot.

[Isitjustme?]

hater's not a crypto koolaid drinker, he's trolling your ass.

This is giving him a lot of credit he doesn't deserve

[InRareForm]

Getting some more Bitcoin if it goes to 15k

[SpursforSix]

Dunno about that. By the time you are 65 if your net worth is not at least a million you have made some really bad life choices.

LMAO. So wrong on so many levels.

[spurraider21]

LMAO. So wrong on so many levels.
let them eat cake

[DeadlyDynasty]

Just reading this thread now.

hater can’t win at anything. ANYTHING

[SpursforSix]

let them eat cake

Man...now that Larry is gone, I'm thinking about starting the "Cosmic Cowboy Chronicles".

[Trill Clinton]

CC is a trust fund baby

[SpursforSix]

CC is a trust fund baby

LMAO. No fucking way. He's too uneducated.

[spurraider21]

LMAO. No fucking way. He's too uneducated.
i knew cows fart when we took a field trip to a farm in like the 4th grade

[SpursforSix]

i knew cows fart when we took a field trip to a farm in like the 4th grade

Dude said he ran several hundred head of cattle or something like that. Now he's categorically saying that anyone who doesn't have a $1,000,000 net worth by age 65 has made poor life choices.
He'll never respond to me is my guess.

[CosmicCowboy]

CC is a trust fund baby

Nope. I wish. I wouldnt work 65 hours a week if that was true.

[CosmicCowboy]

Assuming one starts working at around 20 years old that gives you 45 years to save, invest and benefit from the time value of money. Its just a matter of not spending everything you earn. Starting with a house you can afford is a good start.

[CosmicCowboy]

I admit I had an engineering degree so had a decent job out of college but immediately bought a house that cost almost 4 times my annual income and got roommates to help me make the note until I made more money. It was actually fun. I was 23 and it was a party house. Build equity, flip that into another house etc. Paying rent is just stupid. As you build equity make sure you keep your credit score as near 850 as you can. Then banks will loan you money against your equity for more investments. I've never been afraid of debt if it builds net worth. I currently carry well over a million in debt but the accumulated assets pay for it easily.

[spurraider21]

good thing you had the epiphany that in the long run, owning property is better than renting it. if only poor people thought of that

[Winehole23]

Assuming one starts working at around 20 years old that gives you 45 years to save, invest and benefit from the time value of money. Its just a matter of not spending everything you earn. Starting with a house you can afford is a good start.The time value of money for the last 20 years or so has been punishing to savers, and wages have been stagnant for about 50 years. Also, millions of homeowners got creamed from 2009-2012. Almost like real estate is cyclical, and doesn't always go up in value.

Is save money and buy a house really your advice for 20-30 year olds today? I know it still sounds sensible, but does that work for young people who can barely afford to save?

[Trill Clinton]

Nope. I wish. I wouldnt work 65 hours a week if that was true.

Maybe you just like to keep busy. You're the boss, man. You're not really putting in work like that anymore and plus you're married. "Going to work" is your excuse to get out the house lol. Once I make it your level financially I'd be doing the same thing.

Someone told me you got your business handed down to you...which I don't think is a bad thing. I plan on doing the same thing for my kids.

[SpursforSix]

10846004 (tel:10846004)[/URL]]LMAO. No fucking way. He's too uneducated.


10846034 (tel:10846034)[/URL]]I admit I had an engineering degree so had a decent job out of college but immediately bought a house that cost almost 4 times my annual income and got roommates to help me make the note until I made more money. It was actually fun. I was 23 and it was a party house. Build equity, flip that into another house etc. Paying rent is just stupid. As you build equity make sure you keep your credit score as near 850 as you can. Then banks will loan you money against your equity for more investments. I've never been afraid of debt if it builds net worth. I currently carry well over a million in debt but the accumulated assets pay for it easily.

Lol. Yeah…I’m on ignore.
”Had” an engineering degree. Until that damn Brad Pitt fucked the train up.

[CosmicCowboy]

Maybe you just like to keep busy. You're the boss, man. You're not really putting in work like that anymore and plus you're married. "Going to work" is your excuse to get out the house lol. Once I make it your level financially I'd be doing the same thing.

Someone told me you got your business handed down to you...which I don't think is a bad thing. I plan on doing the same thing for my kids.

Someone told you wrong. I bought the business and the property. First with a partner and I then bought the partner out. I will probably hand the business down free and clear but keep the property/rent for retirement income.

[CosmicCowboy]

The time value of money for the last 20 years or so has been punishing to savers, and wages have been stagnant for about 50 years. Also, millions of homeowners got creamed from 2009-2012. Almost like real estate is cyclical, and doesn't always go up in value.

Is save money and buy a house really your advice for 20-30 year olds today? I know it still sounds sensible, but does that work for young people who can barely afford to save?

S&P 500 is up more than 400% since 2000. Home values have tripled. Most of the homeowners that got creamed in 2009-2012 were flippers and speculators who bit off more than they could chew. You only lost if you sold. And yes, buying a home instead of renting (even if it is an old shit house or a manufactured home on property) is better than renting.

[Tyronn Lue]

Sometimes life makes bad decisions for you. No one has the option to be born in a different country, under different circumstances.

[vy65]

S&P 500 is up more than 400% since 2000. Home values have tripled. Most of the homeowners that got creamed in 2009-2012 were flippers and speculators who bit off more than they could chew. You only lost if you sold. And yes, buying a home instead of renting (even if it is an old shit house or a manufactured home on property) is better than renting.

Since 2009, Freddie Mac's home price index has increased by 5.85% per year or 70.2% total (https://www.statista.com/statistics/275159/freddie-mac-house-price-index-from-2009/). Since 2010, the average sold price of sold homes has increased every year. (https://www.statista.com/statistics/240991/average-sales-prices-of-new-homes-sold-in-the-us/). These stats don't even account for what the pandemic did for property values. US Census data shows that the median sales price of US homes more than tripled between 1992 and 2021 (https://www.bloomberg.com/news/features/2022-09-08/why-did-housing-costs-explode-during-the-pandemic). Every submarket is different, but the suggestion that home values don't "always go up in value" is just wrong.

[Xevious]

S&P 500 is up more than 400% since 2000. Home values have tripled. Most of the homeowners that got creamed in 2009-2012 were flippers and speculators who bit off more than they could chew. You only lost if you sold. And yes, buying a home instead of renting (even if it is an old shit house or a manufactured home on property) is better than renting.
Everything you're saying is true except for the fact that it is harder to buy a home now as a young adult just starting out with no savings. Home prices are now astronomical compared to income, and rent is following suit making it difficult to save up the down payment for a mortgage.

I got my first mortgage with $0 down, no credit history, and about two months of employment history at my job at the time. You can't do that shit any more, and for good reason. Housing expense is probably the number one reason so many more 18-30 year-olds are staying at home longer, it's the only way to make any traction with savings.

[Blake]

good thing you had the epiphany that in the long run, owning property is better than renting it. if only poor people thought of that

They should have not made the bad life decision to be poor

[SpursforSix]

They should have not made the bad life decision to be poor

Listen buddy...all you have to do is buy a house and save money.

[SpursforSix]

S&P 500 is up more than 400% since 2000. You only lost if you sold.

That's broker training 101. Uh...sorry...I mean, "financial advisor" training.

[Adam Lambert]

We bought our first house in 2006 and sold it in 2012 for almost the same amount we bought it for. The housing crash and gradual downturn of the neighborhood impacted the value. When you factor in the foundation and other repairs, we probably would have been better off renting all those years.

[Adam Lambert]

Getting some more Bitcoin if it goes to 15k

I bought a bunch more Amazon and Google.

[Blake]

Listen buddy...all you have to do is buy a house and save money.

And have three guys share the house with you. It's also fun!

[spurraider21]

We bought our first house in 2006 and sold it in 2012 for almost the same amount we bought it for. The housing crash and gradual downturn of the neighborhood impacted the value. When you factor in the foundation and other repairs, we probably would have been better off renting all those years.
CC's response is you shouldnt have sold it and just waited for value to go up

[SpursforSix]

CC's response is you shouldnt have sold it and just waited for value to go up

Plus invest in the S&P 500 at the same time.

[spurraider21]

Plus invest in the S&P 500 at the same time.
only after your second investment property

[SpursforSix]

only after your second investment property

Well yeah. No shit Sherlock.

[pgardn]

Actually CC advice is sound.
If you are CC.

Why it is so damn difficult to understand that all that is circumstance; where you are born, when you are born, to what parents are you born, what sex you were born, what color you were born, what your family history with money is, there are so many caveats associated with his statement that one should never make that statement in the first place.
Koriwhat next with muh feelings and testosterone level to explain the universe. The fkn red team is all about, "well I was born a young disfigured, destitute, Polynesian woman and look at where I am now!." Oh, I walked to school in the snow or across a 40 mile desert.

[DarrinS]

Have you heard about FTX? Go all in.

[CosmicCowboy]

Actually CC advice is sound.
If you are CC.

Why it is so damn difficult to understand that all that is circumstance; where you are born, when you are born, to what parents are you born, what sex you were born, what color you were born, what your family history with money is, there are so many caveats associated with his statement that one should never make that statement in the first place.
Koriwhat next with muh feelings and testosterone level to explain the universe. The fkn red team is all about, "well I was born a young disfigured, destitute, Polynesian woman and look at where I am now!." Oh, I walked to school in the snow or across a 40 mile desert.

You are correct. My observation was more directed at the guys that post in this forum, not the world population in general.

[Joseph Kony]

Have you heard about FTX? Go all in.

Swing and a miss

[Blake]

You are correct. My observation was more directed at the guys that post in this forum, not the world population in general.

Lol so you know everyone's situation here

[CosmicCowboy]

Lol so you know everyone's situation here

True. You may be too lazy and stupid to ever be successful.

[Blake]

True. You may be too lazy and stupid to ever be successful.

Thanks for verifying that's really your view on the world population in general

[CosmicCowboy]

Thanks for verifying that's really your view on the world population in general

In this case, just you. But dont worry, you can always come in here and cry how unfair life is to you like you did when Sancho was banging your wife.

[pgardn]

You are correct. My observation was more directed at the guys that post in this forum, not the world population in general.

touché


Yep.

[Winehole23]

I'M RICH, BITCH

YOU'RE NOT BECAUSE UR DUMB AND LAZY.

[Winehole23]

(maybe there are more things in heaven and earth than are dreamt of in your wallet, Horatio.)

[Blake]

In this case, just you. But dont worry, you can always come in here and cry how unfair life is to you like you did when Sancho was banging your wife.

Oh no guy who said cows don't fart thinks I'm stupid

[ChumpDumper]

Oh no guy who said cows don't fart thinks I'm stupid

:lol

[CosmicCowboy]

Oh no guy who said cows don't fart thinks I'm stupid

Its all relative. You still qualify.

[CosmicCowboy]

I find it really sad that my comment that you young guys in here should be able to retire at 65 with at least a million dollar net worth was met with such derision. It really isn't that hard if you start young but it seems like most of you have just given up and accepted you are destined to be broke because it's just "too hard". Plus, if you are 30 now then by 2057 a million dollars will only be worth about $400,000 in todays dollars if not less.

[Leetonidas]

I find it really sad that my comment that you young guys in here should be able to retire at 65 with at least a million dollar net worth was met with such derision. It really isn't that hard if you start young but it seems like most of you have just given up and accepted you are destined to be broke because it's just "too hard". Plus, if you are 30 now then by 2057 a million dollars will only be worth about $400,000 in todays dollars if not less.

I think people are just laughing at how tone deaf your comment is like everyone is in the same position to do that. A lot of people out there are just trying to survive so thinking about their net worth at 60 is meaningless to them. I also don't think the people here specifically are giving up because it's too hard, I think they're mocking the fact that you believe it's so easy if you just follow to CC guide to success like everyone has an equal footing to do that. Not trying to be a dick or anything, just my thoughts

[CosmicCowboy]

I think people are just laughing at how tone deaf your comment is like everyone is in the same position to do that. A lot of people out there are just trying to survive so thinking about their net worth at 60 is meaningless to them. I also don't think the people here specifically are giving up because it's too hard, I think they're mocking the fact that you believe it's so easy if you just follow to CC guide to success like everyone has an equal footing to do that. Not trying to be a dick or anything, just my thoughts

Meh...it's just the circle jerk crew that jumps on anything I say. I'm OK with it.

And sorry, I don't care what your current age or economic status is...if you aren't thinking about retirement you are fucking up.

And my comment was specifically directed to the people that post in here, not to some crazy homeless guy on the corner.

[SpursforSix]

I think people are just laughing at how tone deaf your comment is like everyone is in the same position to do that. A lot of people out there are just trying to survive so thinking about their net worth at 60 is meaningless to them. I also don't think the people here specifically are giving up because it's too hard, I think they're mocking the fact that you believe it's so easy if you just follow to CC guide to success like everyone has an equal footing to do that. Not trying to be a dick or anything, just my thoughts

Also, I'm laughing at the other examples like career military people, people in the clergy, people who spend their lives giving to others, etc.
It's such a broad brush he painted with. I don't disagree that money takes care of a lot of shit but there are people perfectly happy without that money.

[SpursforSix]

Meh...it's just the circle jerk crew that jumps on anything I say. I'm OK with it.

And sorry, I don't care what your current age or economic status is...if you aren't thinking about retirement you are fucking up.

And my comment was specifically directed to the people that post in here, not to some crazy homeless guy on the corner.

Oh...backtracking again. Just like the cow fart comment. You make seemingly objective comments and then go back and explain what you meant. Maybe you should be more precise with your language.
Most engineers are.