I have a solution.
Burn the businesses all up!
The less zombie businesses that are infecting the cryptosphere we've all come united to defend, the better it will be for us all, as well as for newbies who would've otherwise got scammed by them all (or worse [cf. Celsius data leak]) once they failed.
I am not certain if I could agree with burning all centralized businesses in the cryptospace because that would imply killing the cryptospace and cause bitcoin and altcoins to be more of a speculative investment than it is presently. I reckon what we should be doing is to be more supportive of decentralized protocols that encourage self custody, that never bow to regulators and that also encourage to account for our investments not in fiat but in cryptocoin value. |
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A thread from someone on Twitter that lists all questionable actions by Sam and FTX for those who have not been following this news. These are not rumors anymore but confirmed information found in FTX's bankruptcy filing and they are very head shaking. There were those people who said that this man cannot be trusted when I posted this picture. I thought they were only being stupid, however, I should have listened to them hehehehehe.  FTX FILLED ITS BANKRUPTCY FILLING TODAY
IT IS EVEN WORSE THAN ANYONE IMAGINED AN OVERVIEW
1) FTX LENT SAM BANKMAN OVER $1 BILLION DOLLARS FOR PERSONAL USE
2) FTX USED CUSTOMER FUNDS TO BUY HOUSES FOR EMPLOYEES
3) FTX DIDNT HAVE A LIST OF EMPLOYESS AND WHAT ALL THEY DID
4) FTX DID NOT KEEP ANY BOOKS OR RECORDS OF ITS DIGITAL ASSETS
5) ALAMEDA RESEARCH WAS EXEMPTED FROM AUTO LIQUIDATION ON FTX
6) FTX BUILT A SOFTWARE TO HIDE THE MISUSE OF CUSTOMER FUNDS
7) FTX HAD $400 MILLION IN UNAUTHORIZED TRANSFERS THE DAY THEY FILED FOR BANKRUPTCY
 FTX HAD BILLIONS IN INVESTMENTS OTHER THAN CRYPTO BUT THERE ARE NO BOOKS OR RECORDS OF ANY OF IT.
9) SAM BANKMAN MADE ALL BUSINESS DECISIONS ON APPS THAT AUTO DELETED EVERYTHING AFTER SOME TIME
HE ENCOURAGED ALL EMPLOYEES TO DO THE SAMESource https://mobile.twitter.com/gurgavin/status/1593292792582635520 |
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@o_e_l_e_o. Sam is a scammer, there are other information being discovered that Sam took money from the investors and used them somewhere else. This is misappropriation use of funds and there are laws that can be used to charge Sam and Caroline and send them to prison. I am beginning to think that FTX was never created to be an exchange. It was created to be a scheme to be used by some very big players in politics.  Also, watch this. https://mobile.twitter.com/Hedgeye/status/1591240664779743232 |
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Another one bites the dust.
Isn't this a bigger deal though? As far as I know Genesis is sort of "partnered" with a good number of significantly-sized crypto platforms.
There are some people who speculate that it might cause another market dump. According to some information being shared in social media, Genesis needs a loan of $1 billion for their cashflow. If they do not get the loan by next week and because Genesis is owned by DCG who also owns Grayscale, they will need to sell the bitcoins or the altcoins they have in their treasury. They have 600k bitcoins and 3.1 million ETH. If DCG sells to save Genesis, it might dump the price lower than $16k. Also, some of DCG's biggest debtors are Alameda Research and 3 Arrows Capital. DCG is also an investor in FTX. They have lost funds. This is from Arthur Hayes after news about Genesis began circulating.  Y’all ready for this?
$BTC 10k my fiat is ready!!!https://mobile.twitter.com/cryptohayes/status/1592876226632626176 |
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@Kakmakr. It is not because of how bitcoin is defined that makes it an unattractive option to use as a currency. It is because of how the price of bitcoin behaves in the market. It is too volatile and this is caused by its own monetary policy. Limited supply with different levels of demand will certainly give us an asset that will be very volatile.
Also, a limited supply also encourages hoarding. Do you see those people who tell everyone to hodl? Those people are the hoarders.
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@everyone. There is another consequence after the bankruptcy of FTX. Leaked secrets and our eyes will not be spared from the horror of these images that will cause in our lives. Once you see them, you cannot unsee them hehehe. There is a rumor that there is a sex tape of Sam and Caroline that will be released soon. Have your snacks and drinks ready. This is one of those leaks being shared in social media. I am not quite certain if this is real, however.  |
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many people in the cryptospace appear to be in denial of this
So true. And denial means unrealistic expectations, bad surprises and sometimes dramas too, unfortunately. That's why we, at least here on this forum, should be realistic and express clearly the truth/situation, with both its good and bad sides. I think many people who have been here for a while tend to be realistic: bitcoin will be worth a whole lot or very little with not much room for a middle value. To me most people here realize the benefits of crypto (bitcoin in particular) and so tend to think that as more people realize the benefits the fiat price will go higher. I disagree, there are not many who are not very realistic holders when it comes to bitcoin and I am not talking about the price. I am talking about the limitations of bitcoin as a store of value, medium of exchange, a currency. If you challenge their beliefs on this, they will call you an antagonizer, a bitcoin hater or something similar to a heretic. I am not quite certain if the cannot see reality or they refuse to see it because they only want a pump. This is very head shaking behavior. |
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@stompix. It is very much not okay if the CEO of the exchange and the CEO of the quantfund that uses the exchange are dating. It might be $10 billion of FTX's funds that Sam transferred under the control of Caroline in Alameda. Much of this is depositors' money. In any case, I thought the rumors of drugs and orgies were not true. However, this picture was leaked. But I cannot confirm if this is real.  There was also a rumor of a sex tape with Sam and Caroline. |
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@Yaunfitda. Agreed. They might not be the champions and the kings of their weight divisions, however, they have the biggest names. This is very much similar to Conor McGregor and Nate Diaz in the UFC, I reckon. It can also be argued that this fight might be as big or bigger than Spence vs. Crawford in excitement and expectation for the fans.
@bittraffic. It will not be delayed again. The promoters, their teams and themselves certainly want to receive a large amount of money on May 2023 heheehe.
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many people in the cryptospace appear to be in denial of this
So true. And denial means unrealistic expectations, bad surprises and sometimes dramas too, unfortunately. That's why we, at least here on this forum, should be realistic and express clearly the truth/situation, with both its good and bad sides. Reality is ignored when our cryptocoins are giving us losses but we do not want to sell. The bigger the loss, the stronger the motivation to create hype and the stronger hope that a pump will arrive soon. I am not criticizing because this is only natural behavior for us smaller investors hehe. However, when other people tell us to see reality, we attack them to defend the holiness of our cryptocoins and excommunicate them. This is like holding a certain cryptocoin has become a religion. |
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It is official and I reckon that this fight can be bigger than Errol Spence vs. Terence Crawford with the proper marketing and promotion.   Boxing fans will get at least one of the big fights they want in 2023.
Gervonta Davis and Ryan Garcia announced through their Instagram accounts Thursday that their representatives have completed a deal for the popular knockout artists to meet in a much-discussed showdown on a date to be determined in 2023. Their 12-round fight, which will be contested at a catch weight of 136 pounds, will be a Showtime Pay-Per-View main event from an undetermined venue in Las Vegas.Read in full https://www.boxingscene.com/gervonta-davis-vs-ryan-garcia-showdown-finalized--170528It appears the sportsbooks are listing Tank Davis as the favorite. However, this is only the beginning. The odds might change when the fans from Mexico and the women start betting hehehehe. Bookmakers made Gervonta ‘Tank’ Davis a favourite against Ryan Garcia in a potential future bout between the pair, when they last released odds on November 17, 2022.
He is currently 4/9 (-230) to win the bout outright, while you can get 31/20 (+150) on Ryan Garcia if you fancy the small upset.Source https://box.live/boxing-betting/davis-vs-garcia-odds/That means that oddsmakers think there is 64% chance of Davis winning while giving Garcia a 36% chance. |
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@suchmoon. The tight end you gave me is defective. May I have a refund?  |
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And back to crypto and your last line: while crypto can bring nice surprises indeed, it's expected that during a recession they will also not do great (if people don't have money, they won't buy, and if there is no demand, the price can only go down).
That makes my argument for what much of the people use cryptocurrency and tokens for. An asset for speculation. I reckon there is nothing wrong about this, however, many people in the cryptospace appear to be in denial of this. They cannot accept that much of those who enter the cryptospace are in here to make fiat. From the forum dwellers like us to the billionaires like Michael Saylor. |
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@m2017. The other problem caused by this collapse would be more aggression on how to regulate the cryptospace through more strict laws and regulations and more aggressive enforcement. The banks and other payment processors would also be strict in blocking transactions to and from exchanges.
However, what might be good from this is it might delay the government from creating and enacting new regulations. In America, there are some people who think that Sam Bankrupt-Fried was very close in putting the freedom in Defi in a coffin through his advice and his meetings in Washington DC.
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This might be if Sam is taken to court he can plead insanity hehehe. There are other rumors that are spreading in social that Sam used stimulants and encouraged his employees also to use them to be more productive. There would be a lecture about different stimulants and he let his employees choose which one they like. There are others who also say that Sam is in a romantic relationship with Caroline Ellison the cofounder and CEO of Alameda Research.  |
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Also, I heard that crypto.com's CEO has released a statement telling everyone that the exchange is very solvent and safe. Such statements are meaningless. Withdraw everything. I am very aware of this and I have implied it in the following sentence after the sentence that you included in your reply hehe. @Bitcoin_Arena. Many people speculate that Bitmex is taking advantage of the situation on FTT. This is why they are also speculating that Bitmex is taking advantage of the situation again on crypto.com. Also, can anyone read this article and share it in the thread? There is a paywall and I have used all of my free access for the month. Hedge fund admits half its capital stuck on FTX exchangehttps://www.ft.com/content/726277bb-35a1-4d35-9df9-3e1cca587b77 |
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Brady looking decent so far, never count out the goat. When it's all said and done this year they will end up probably being one of the top teams in the nfc and Brady will work his magic in the playoffs. I can just see it now.
Just hope for ff he doesn't hit Mike Evans too much. Going against Evans in a couple of my leagues.
Hehe instead of revenge trading to get back everything he lost in one trade, he will release all of his anger, all of his frustrations, all of his disappointments on the football field. I might have made a mistake when I told everyone that Tom Brady will be distracted by the collapse of FTX. However, what the other teams can do against Goat Brady is stick these NFTs on the helmets of their defensive line hehehehehhee. This will certainly distract him. NSFW https://opensea.io/collection/sbf-yoga-club |
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2 days have passed and we're already beyond that. Latest rumors: Sam might be on the run. The police entered his main office in the Bahamas Sam sent 10 bln USD to Alameda and Alameda has none of that. CEO admitted to losing it all. Alameda spent money on attack on Binance Futures and LUNA Nobody knows where Sam got the money to start arbitrage. Both Sam and His girlfriend Caroline had no idea how to run a company. They were lying to people and the business was made to be a scam from the start. Caroline's father used to be Gary Gensler's boss at MIT. I guess that is going to raise a lot of questions about the lack of SEC's supervision over Alameda. SBF is said to be planning to flee to Dubai but has been arrested by the Bahamas authorities, Caroline is in Hong Kong and most likely she will go to Dubai to hide. FTX has business registration in the US and Bahamas, so they have the right to keep him until the investors of these two countries are adequately compensated according to regulations. that's also why when FTX blocks withdrawals, only users in these 2 countries can still withdraw. SBF silently transferred 10 billion to Alameda without notifying shareholders, and most of this money is investors' money, not the company's capitalization or himself. I believe it was he who caused Luna's downfall and then used his money to buy up other bankrupt companies. It is not only their investor's money, it's the depositors' money. Money of those people who are very much similar to everyone who frequently visits this forum. In any case, someone shared this thread to me. Sex is good but have you gone down the FTX rabbit hole? 🐇https://mobile.twitter.com/cryptotea_/status/1591277985390526467?s=12&t=zxELOqs_z_A5876ODb3JAgWatch the video in this tweet. ONE MONTH BEFORE THE SHIT HIT THE FAN (10/11/22)
@AlderLaneEggs
warns about $FTX &
@SBF_FTX
etc to
@KeithMcCulloughhttps://mobile.twitter.com/Hedgeye/status/1591240664779743232They start discussing on FTX on minute 34:00. The person interviewed according to those people I inquired is Alder Lane. He is one of the biggest shorters during 2008 financial crisis but he was not mentioned much in mainstream media, the news or included in movies similar to the Big Short. Alder already was speculating that FTX is a scam 1 month before it was exposed. Read the whole thread. Epstein was mentioned, connections with Gary Gensler and the SEC, former president Clinton and plenty more. It is very head shaking hehehe. |
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@2double0. We do not have a choice because we have no more money in our wallets hehe. Su Zhu, Do Kwon and Sam Bankrupt-Fried have scammed everything already hehehehe. @Woodie. People like him have no guilty feelings over what they do in business because it was only business. He is only helping the cryptospace to only help himself. He will buy everything cheaply and it will also protect Binance because more dump from here will begin to have negative effects on them. In any case, according to this article Binance has $70 billion in their reserve. As per the details from Nansen, CZ’s exchange now holds $70,675,000,000 in its reserve, showing its commitment to transparency. The data shows that 32.99% of the assets are in BUSD, 22.92% in USDT, 10.22% in ETH, 8.97% in BTC, 8.60% in BNB, and 16.29% in other tokens.Source https://watcher.guru/news/binance-holds-70675000000-in-its-reserve |
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Looks like those rumours about crypto.com being in trouble made people massively withdrawing their funds from there as they recently shared the announcement that hey are "experiencing delays with crypto withdrawals due to network traffic" and I saw some people reporting that they have been waiting for 24 hours to get their crypto out. Well, at least I hope that's the reason and not that they are actually insolvent and that's what causing all those delays.  Yes, I saw those comments that were shared in social media. I have never used crypto.com, however, their users claim that withdrawals before were instant. Also, I heard that crypto.com's CEO has released a statement telling everyone that the exchange is very solvent and safe. However, their CEO also released this statement which very head shaking.  If the coins he bought dump to zero, is this hedging? To buy other coins called LUNA or FTT is hedging? |
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