The Crypto Geniuses Who Vaporized a Trillion Dollars
- Thread starter Pekelo
- Start date
I know you guys will never change, but food for thought...
These incidents (hacking, blowups, alt-coins failing, etc) doesn't prove anything really regarding bitcoin or other high quality cryptos (ETH and a few others).
The fringe has always adopted new tech before the masses.
Pagers were first used by drug dealers before used by the masses
The internet was for Porn first and the many use cases we now enjoy later
So what im saying is... you guys are saying literally nothing
These incidents (hacking, blowups, alt-coins failing, etc) doesn't prove anything really regarding bitcoin or other high quality cryptos (ETH and a few others).
The fringe has always adopted new tech before the masses.
Pagers were first used by drug dealers before used by the masses
The internet was for Porn first and the many use cases we now enjoy later
So what im saying is... you guys are saying literally nothing
Heres what im saying
you claim the internet was for porn first ?
this makes you a flaming asshole, and freud would be proud ( see projection)
you claim the internet was for porn first ?
this makes you a flaming asshole, and freud would be proud ( see projection)
1. Sure they prove something. Crypto is exceptionally good for fraud. It is ponzis all the way down.
2. Funny you say that. Someone mentioned that since the porn industry didn't embrace crypto, it means it is shit. You can't argue against the porn industry.
3. You are saying really nothing, and I just posted about current news. No criticism of crypto was given in my post in this thread.
All in all, you are a hopeless idiot.
we agree on something then ,GlobalMacro90 is a pinhead
id love to know how bitcoin is a "ponzi all the way down"? Try to say something constructive and take your time
Can somebody please explain why an exchange would loan out money to a hedge fund?
Did you ever hear NYSE or CME making a loan to Blackrock or RenTec???
Now who still sez crypto does not need a good spanking?
No. The value of money can evaporate into thin air. That's what gaps are, when the only buyer is many levels below your buy point then all that money in between is gone. Poof.
Not all exchanges are created equal
For example, Voyager lent out the crypto assets and charged a yield, paid the customers most of the yield. It was supposed to be over-collateralized loan to 3AC, but as we now discover in the BK filings, there was no collateral or hardly enough or illiquid, i.e. GBTC shares (which was also used at BlockFi who took custody and got the liquidate first ahead of Voyager)
Hence the discount of GBTC versus BTC price
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Btw, that business model of lending out crypto assets or securities to get as collateral to get a loan also happens in TradFi, it's called prime brokerage
And those guys don't give yield to the owners of the assets securities
Morgan Stanley, Goldman Sachs and a bunch of others got hit for tens of billions because of that Christian degen trader/investor, can't remember his name
The difference is that in TradFi, they have a bail out big daddy Fed bank lender of last resort saved everyone's ass in the 2008 global financial collapse
Don't kid yourself, the TradFi firms need a fucking nuclear spanking but nope, they get bonuses and no one goes to jail and they continue to fleece everyone