care to elaborate why you think it is beautiful? Not that I disagree, but I have my reasons
Bitcoin Price Thread
- Thread starter Magna
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care to elaborate why you think it is beautiful? Not that I disagree, but I have my reasons
Beautiful due to my shorting the hell out of itcare to elaborate why you think it is beautiful? Not that I disagree, but I have my reasons
Excellent points made by Jack.
It simply amazes me that the smart people here at ET don't get it. I understand if a banker badmouths bitcoin, or a politician, since they benefit from the ongoing scam that fiat is, but clearly most here don't fall into this category. I wonder what part they are missing to make their brain click that this will in fact be a major revolution for the stability and prosperity of the world.
Now I realize that the world is a horrible place and for someone to prosper, someone else has to lose. But since we are wasting so much government money on supposedly helping poor people, which isn't really helping them at all, wouldn't it be better to start from a foundation that is fair and then let the chips fall where they may? For sure the smart business people will always find a way to get ahead, but its not smart and they aren't business savvy if they use a system that is designed from day 1 to keep people in poverty and forever stay a victim of the debt cycle. I would honestly feel dirty if my gains came from the theft and victimization of someone else.
I think some people get it, but still pretend like they don't
I saw your posts arguing on FTX bankruptcy...
I saw Josh Brown ask the most important question on CNBC "why were the crypto assets of the FTX depositors transferred to the hedge fund Alameda?"
I was wearing my tinfoil hat and saw Scott Wapner bursh it off it will be part of the investigation...
That was the first and only time I saw it asked on CNBC when talking about FTX
SBF and team stole the cryptos of the depositors
There's no fractional reserve on cryptos as they settle 1-to-1 on the blockchain
FTX was "borrowing" them without permission from the depositors? That's like if someone empties your house while on vacation and when caught they'll say we're only borrowing the items
Blaming CZ for causing the bankruptcy of FTX is stupid. No one can make FTX bankrupt if they did not steal all the cryptos, everyone would be able to withdraw all the crypto assets
$10-50 Billion worth of crypto assets are gone. FTX stole them. end of story
Does TheDawn understand cryptos 1-to-1 blockchain settlement? maybe, maybe not. Do ET users understand it? maybe, maybe not. I don't care to educate them anymore
and how BTC exactly solves the issues you describe?? Let’s be honest we only interested in Crypto because we want to see 10x to 100x.
What do you mean by the 1-1 settlement? What do you mean 10-50 billion worth of crypto? USD value?
Let's go back to this whole idea of staked coins (which could be a complete tangent on current subject, I am not sure).
Was FTT one of those staked coins, where they had 1 FTT for every USD?
The short version of my answer is the government is FTX. They print up tokens that have no real value or backing. This is essentially fiat currency. Then businesses use fiat currency, and government gets to choose who to keep afloat since they control supply of said currency. But this currency, because of zero interest rates, has an arbitrary value, and now we see the mess it created via high inflation, asset bubbles, and shortages of energy.
I'm in the camp that a hard money that cannot be created by the government will create long term prosperity after this current system burns to the ground.
But yes, it would also be nice to make 10-100x. Although, if the government said going forward there would be no more printing, no more deficits, I would be just as happy. They won't do this, only when forced to by the public using a currency or store of value that they cannot manipulate.
Staked coins are unrelated to the FTX exchange, it's part of defi
Let's keep it simple and focus on one crypto asset, btc
FTX has 0 btc's on their wallet. Zero
According to the records per the bankruptcy, something like 80,000 btc's worth over $1 Billion have been deposited by the FTX customers
When an FTX customer makes a deposit or withdrawal, they settle or get recorded on the blockchain
None of the customers can withdraw any btc's since there are 0 btc's on FTX bitcoin wallets
- Where are the 80,000 btc's that belong to the FTX customers?