Those are two separate cases mentioned.
Man has two more chances before $232 million is lost forever
- Thread starter Frederick Foresight
- Start date
You had plenty of time to buy Bitcoin at $5 a coin. Yet you did not. And now... you are still on your bearish rants on these forms, calling everyone else who isn't a perma-bear an idiot?
I think it's safe to say, when your arguments have degenerated down to name-calling, you've signaled defeat. It's the absolute end of any possible means to defend anymore.
yeah. unlike a traditional bank, or brokerage account. Government regulation has some benefits.
Difference between bearer assets and custodial assets
Physical gold in your possession is better than the one stored at some vault, ask Venezuela and their billions of $ worth of gold stored somewhere
Not your keys not your bitcoins
Government regulations are nice to protect you from counterparty risks holding your assets, but ask Russian billionaires how well the government regulations protected their risk-free US Treasuries, or Lebanese holding their deposits at well-regulated banks, or Turkish citizens and their savings accounts at same institutions
But you know, the US is the global reserve currency, it will be the safest forever...
There's no issues with $31 Trillion of debt and growing because deficit every year
Nothing to see here, everything's fine, the whole world will always look up to the US $ as the global reserve currency and never change it. It's permanent forever
The coiners like a lot of libertarian ideas around bitcoin but don’t realize that the lack of protections has a real cost. Probably far greater than the transaction costs they save from routing through the federal banking system.
we’ve tried all this before. Current regulations and conventions evolved as society saw the problems in these ideas. FTX, Mt Gox, and all the rug pulls will have to be underwritten by someone.
we’ve tried all this before. Current regulations and conventions evolved as society saw the problems in these ideas. FTX, Mt Gox, and all the rug pulls will have to be underwritten by someone.
FTX, Mt. Gox, Robinhood, LME... they are all part of centralized finance and the associated counterparty risks that materialized
Imagine being long GME shares or call options, then they rig the system and only allow selling, or imagine being long Nickel futures and having some unrealized profits only for the trades to be reversed, or imagine holding Chinese ADR stocks during the time that there were some question marks regarding what exactly those shares represent, like actual ownership of Chinese companies and entitlement to profits and free cash flows and assets
Libertarian? maybe, maybe not, I'd like to think that at least now we have a decentralized financial system that is global
If all the US exchanges fail or are shutdown by the US government, Bitcoin and cryptos will continue to work just fine in Turkey, in Dubai, in South Korea, in El Salvador, in Brazil, and everywhere people transact with no intermediaries, from one crypto wallet to another to complete a transaction of goods and services
FTX, Mt. Gox, BlockFi, Voyager, Genesis and many others are not as important as you think they are
After what happened with the LME scandal, I would never, ever trade there again (unless you're in with the insiders). Shame on the UK for not stepping in to guarantee a FREE MARKET and EVEN PLAYING FIELD. But since the Pelosi family still does insider trading IN PLAIN VIEW of the US citizens, I guess this type of regulated thing in the western world is asking for too much these days.
The irony is how the west always like to point fingers at corrupt eastern countries. There is a saying about those who live in glass houses...
The irony is how the west always like to point fingers at corrupt eastern countries. There is a saying about those who live in glass houses...
Famous investor having trouble withdrawing funds out of China.
https://www.zerohedge.com/geopoliti...re-mark-mobius-says-china-blocking-investment
At some point, perceived safety is actually the threat.
Also, do you think the government would be so eager to rescue everyone or bail out everyone if they couldn't print up the difference?
The only reason why bank accounts for example are FDIC insured is because worst case scenario, governments just print whatever is necessary. The actual fund is tiny compared to the risk because there really is no risk. The cost for this is of course consistent theft in the form of inflation. The benefit of governments being able to make people feel safe and whole again is actually very costly on a long enough the horizon.