Baron's Crypto Trading Journal

VicBee said:
Agreed. I think it's time for you Johnarb to stop name calling virtusa
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I'm sorry to all the virtusa-is-a-liar's fans, but I will continue to use that unless virtusa-is-a-liar shows some proof virtusa-is-a-liar is not a liar

That name predates this thread

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virtusa said:
People who wanted to buy one year ago and did not because of what I posted, can buy today 3 to 4 times more BTC for the same money.
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Yeah but everything has tanked, not just crypto. It would be one thing if BTC dropped dramatically on its own, but that's not the case. Using your 1-year timeframe as a reference, those same people can also buy 2 or 3 times the number of shares of Facebook, Tesla, Amazon, Netflix, Intel, etc. than they could last year, but that doesn't mean those companies are scams.

virtusa said:
My question: why does it bother you that I give my opinion?
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It doesn't. If it did, I would have blocked you from this thread a long time ago. I've just never seen someone spend so much time writing posts about a subject that is of no interest whatsoever to him.

virtusa said:
I was thinking that on ET people share information.
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Yeah, but that's the point. You're not sharing any information other than calling crypto a scam. You don't even share any details whatsoever about your own trading except the generic line that you trade index futures. That's it. So aside from you calling crypto derogatory names, where is all the information you're sharing about YOUR trading? I can't seem to find any.
 
Frederick Foresight said:
Now suppose that you find yourself in a forum populated primarily by Jaguar owners
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I would never do that. That's what I'm trying to say. But hey, I've got to accept that some people may want to spend their time sparring with other people even about topics they don't care about.
 
johnarb said:
FTX stole the bitcoins and other crypto assets from the customers who deposited them. Transferred them to Alameda who acted as MM who sold them to the FTX customers, but everything was fake

Customers buy bitcoins and other crypto assets, then if they don't withdraw in time, they are transferred to Alameda who acted as MM to sell them to the FTX customers

When the balance sheet was leaked to Coindesk, that's when everyone tried to withdraw all their cryptos and FTX quickly ran out

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When FTX customers wired fiat, the funds went straight to Alameda account. I have a separate thread that Silvergate bank may be in a lot of trouble as they were in the middle of that mess. Same FTX MO, customer deposits of fiat were stolen immediately after deposits and transferred straight to Alameda account

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When FTX raised funds through venture rounds, the money was borrowed by Sam in the billions. Check the bankruptcy papers

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So to summary, FTX stole customer deposits of crypto assets and FTX stole customer deposits of fiat, and then FTX stole the funds they received from their private investors by loaning to their top management

FTX and Alameda and SBF stole $10-50 Billions worth of stuff, by some estimates

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But it's all the fault of cryptos. The regulators will come down hard on cryptos
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Did the FTX customers know of/allow for the hypothecation of their coins/tokens?
 
Arnie said:
Did the FTX customers know of/allow for the hypothecation of their coins/tokens?
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No, the 1 Million FTX exchange customers did not know and would not allow an exchange to misappropriate their tokens. That is illegal and against the terms & conditions

Exchanges do allow for staking for p2p borrow/lending markets but that's a very small portion of the exchange and not sure if FTX offered it, but I know Kucoin does

Anyway, FTX dot com does not accept US customers so the majority of those people are outside of the US. It's very sad, there will be many suicides

Many wall street institutional traders traded on FTX via offshore LLC so those got hurt but I guess they knew the risks?
 
Baron said:
If you think crypto is a scam, and that trading crypto is pure gambling with high levels of risk and less return than trading the ES, then why do you spend so much time writing and reading posts in a forum about cryptos that you have absolutely no interest whatsoever in?
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That is a pathetic response imo!!!
ET is a trading discussion forum where traders congregate and virtusa is obviously a trader.
Why shouldn't he discuss crypto.
I barely touch crypto, only been in and out of a crypto ETF a couple of times for a loss, yet I'm very interested in the subject, listening to pros and cons.
 
If Baron continues to allow johnarb to call "virtusa is a liar", I will stop contributing to this forum site!
You're an asshole Baron allowing this continual behiour!!,
 
themickey said:
If Baron continues to allow johnarb to call "virtusa is a liar", I will stop contributing to this forum site!
You're an asshole Baron allowing this continual behiour!!,
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Johnarb calling virtusa a liar is just picking on him. Calling baron an asshole is actually insulting. Isn't one worse than the other?
 
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