Does Sam Bankman-Fried's statement imply that the cryptospace not seen the bottom of this bear market? I am shaking my head because everyone who was going to capitulate appears to have capitulated already.
Three Arrows Capital just defaulted, there is still pain to be inflicted https://markets.businessinsider.com/news/currencies/crypto-crash-three-arrow-capital-default-voyager-670-million-loan-2022-6As for Sam, this guy has been turning in some kind of undertaker, every single time lately that there is something bad happening there is talk about liquidation, bankruptcy, or taking over assets his name is mentioned there, I have a bad feeling about his own business, there were some shady doings behind the scenes with Terra and as more and more info appears seems like he was involved too. Sam Bankman-Fried's FTX and market maker, venture cryptofund Alameda Research are presently the most liquid companies in the cryptospace. I reckon also CZ, Justin Sun and their companies. I speculate that by the end of this bear market the 3 of them might be already owning 75% of the cryptospace hehehe. Also, it appears that we in bitcointalk are always late with the news. It is only now that much of the people in the forum have heard of Sam Bankman-Fried and consider him as someone who is only passing by hehehehe.  FTX closes in on a deal to buy embattled crypto lender BlockFi for $25 million in a fire sale, source says
Crypto exchange FTX is close to finalizing a term sheet to buy BlockFi and a deal is expected to be signed by the end of this week, three sources familiar with the situation told CNBC.
It comes after FTX provided a $250 million emergency line of credit to BlockFi.
Jersey City, New Jersey-based BlockFi was last valued at $4.8 billion, according to PitchBook. Source https://www.cnbc.com/2022/06/30/ftx-closes-in-on-a-deal-to-buy-embattled-crypto-lender-blockfi-for-25-million-in-a-fire-sale.html |
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Based on my experienced playing at livecasino at first it was too difficult to win in every games they have, maybe out of 10 I can only win once something like that. Aside from that, I also noticed that there are some of the players also complaining the same experienced I had at livecasino.
Who are those other players who are complaining? It would not be fair to blame it on Livecasino, I reckon. The games that are being offered here are the same games that are from the same games providers as your other favorite internet cryptogambling websites. |
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Does Sam Bankman-Fried's statement imply that the cryptospace not seen the bottom of this bear market? I am shaking my head because everyone who was going to capitulate appears to have capitulated already. There might not be more marginal sellers left in this market hehe. In any case, the article mentioned that the strong giants are FTX, Binance, Kraken and Coinbase. For our safety, let us speculate which exchanges should be avoided by the community. It is very clear that Poloniex and Bittrex should be avoided. What are the others? Bybit, Deribit, Kucoin?  Sam Bankman-Fried, CEO of FTX, liquidator of the cryptospaceAfter throwing lifelines to troubled digital currency platforms BlockFi and Voyager Digital, Sam Bankman-Fried, the 30-year-old billionaire founder of FTX, warns that some crypto exchanges will soon fail.
“There are companies that are basically too far gone and it's not practical to backstop them for reasons like a substantial hole in the balance sheet, regulatory issues, or that there is not much of a business left to be saved,” says Bankman-Fried, who declined to name any specific crypto exchanges.
“There are some third-tier exchanges that are already secretly insolvent,” says Bankman-Fried.
Fried’s FTX, along with Coinbase, Kraken and Binance, are giants among digital asset exchanges.Read in full https://www.forbes.com/sites/stevenehrlich/2022/06/28/bankman-fried-some-crypto-exchanges-already-secretly-insolvent/?sh=4a2fe21a47f7 |
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I would say the company has made a fool of itself. They seem to be the typical retail investor doing the opposite of the right thing: buy high sell low.
To top it off, they are called Cypherpunk.
If you have to sell your Bitcoins right now to get cash, you have not been doing something right in managing your finances.
No, to top it off their stock ticker is called HODL hehehe. However, if their strategy is to sell today and buy what they sold back on a lower price, I reckon it mght be a good strategy it works. However, it is very hard to assume if there will be more dumps soon. It appears both retail and institutional investors have capitulated already after Luna, Celsius and 3 Arrows Capital liquidations. |
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Man trying to DCA with millions.  That's a seven figure number. It's fair enough for a company. For any individual a three figure is not bad at all. Imagine someone who is continuing DCA from 2017 or earlier. They also considered selling some at the peak. Again they are buying back in difference price. There will be many who has been doing it from years. MicroStrategy could be an example that it's never late in crypto. I disagree. Microstrategy is an example on how not to invest in the cryptospace. The investment holds 129,699 coins with an average price of $30,664. This is a loss of $1 billion on an asset that has pumped 4x since March 2020. It will also not only be about the loss on paper at present. Microstrategy will be reporting this loss in their monthly income statement. It is very head shaking what he has done. |
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I have not read much of the discussions of this thread and this is my first reply. Forgive me if this question has been asked before, however, does anyone speculate that Canelo might be accepting this fight very early after his loss vs. Bivol? GGG should not be very underestimated for this because it also appears that Bivol gave him the tactic to defeat Canelo. GGG also does not look like an old man in the ring with the wins after the loss to Canelo hehe.
Even prior to the Bivol fight, Canelo has already agreed to fight GGG anyway. And it just so happen that he lost to Bivol. But as I have said, this is already made so Canelo can't back up. I don't think it's early though. I mean this fight should have been made years go after the second fight. But Canelo didn't want to and he was like waiting for GGG to reach 40. Although GGG looks sharp against Murata. The blue print is already there, it's that Canelo's opponent seems to be mystified when they face him. Bivol didn't and uses all his physical advantages to beat Canelo. I don't think that GGG has any advantage though. However, they were planning the trilogy vs. GGG having the assumption that Canelo would win against Bivol. Also having the assumption that Canelo will be having full of confidence. I am not very sure how Canelo feels today but there were pictures of him in a casino gambling and drunk after the loss. I speculate his mind might not be there 100% for this trilogy. Canelo will win, however, it might not be very easy as everyone expects. Probably Canelo just wanted to have some fun and get out the lost out of his mind, but I don't think he is a gambler per se. But I do agree that they assumed that Canelo will win against Bivol, even Bivol says sorry for derailing all the plans. But after Canelo's lost, the fight with GGG will continue and I think Canelo is focused on this as we can see on the press conference video. Both seems to be very confident though. But I'm not going to bet this early, I will wait till the weigh-in. I am not speculating that Canelo will certainly lose, however, it appears that it is GGG's chance of getting the victory which is the one that is very underestimated, I reckon. I am also not betting this early. I will wait for rounds betting. This might be over or under 10.5 rounds or lower which the sportsbooks might favor under hehe. GGG will fight until round 12, I reckon. The intense look on their face tells me that a knockout is coming  ,  I like the way GGG is smiling to Canelo even Canelo is so serious during the staredown, this looks like GGG is already prepared anything and not afraid fighting with Canelo for the third times. It's funny how GGG switch from thumb up hand poses to boxer poses, he probably forgot this is boxing event lol. Not really sure why Canelo look so serious to GGG, perhaps this is because he lose against Bivol. In press conferences, GGG should joke about Canelo's loss to make him much angrier hehehehe. |
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It appears reality is beginning to make its appearance on this institutional investor hehe. However, capitulating on what might be the bottom of the bear market is clearly one of the biggest mistakes in holding bitcoin as an investment. The other big mistake is buying more bitcoin on leverage while the whole market is deleveraging. TORONTO, ONTARIO, June 28, 2022. ‐ Cypherpunk Holdings Inc. (CSE: HODL, OTC: CYFRF) (“Cypherpunk” or, the “Company“), a sector leader for blockchain, metaverse, privacy and cryptography focused investments, would like to announce updates on Cryptocurrency Holdings and Company’s Strategy.
Moe Adham, CIO of Cypherpunk Holdings commented: “Crypto markets remain in a deep risk off environment. There remains risk of further significant drawdowns in asset prices across the crypto sector. In the interest of all shareholders, the company transitioned its treasury to cash. This transition prepares our business to take advantage of investment opportunities we believe will become available after a substantial recapitalization of certain projects.”
The Company has sold 205.8209 ETH for proceeds CAD $293k and 214.7203 BTC for proceeds CAD $6,086,283.
The Company’s treasury presently holds no BTC and no ETH.Read in full https://cypherpunkholdings.com/cypherpunk-holdings-corp-update-june2022/ |
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I guess at this point it’s impossible to say if the bottom has been touched, but it’s certain that the situation has calmed down a bit as whales have more than obviously profited and are now enjoying exotic locations around the world. It is possible that autumn and the beginning of winter in the northern hemisphere will give us some answers - and until then we have no reason to think that the price will not go even lower until the end of the year.
I speculate that bitcoin might be worse than where it presently is during the autumn and winter. This is when energy demand will certainly grow. I reckon with increasing energy prices and a threat of a shortage in energy supply, miners might be forced to dump more of their mined bitcoins to the market for their cashflow. Bitcoin cannot be predicted anymore. Too many whales joint the party.
I don't know if the halving will have the same effect as before.
All I know is then everyone pronounce the BTC dead, then is the best time to buy.
Tom Siebel agrees hehehe. "I don't think this is going to be over until everybody swears they will never own an NFT, they will never own crypto, and they will never own a technology stock," he says. "When we get to there, we know it's over."Source https://www.barrons.com/livecoverage/investing-in-tech-2022/card/tech-s-downturn-isn-t-over-yet-tom-siebel-says-8Lxe5soBz9H5M3COwWw2 |
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Agreed, however, what is the cryptospace if it is not being developed to avoid converting to fiat.
It's just the reality of things as of right now that most merchants only accept fiat, which means for lots of purchases, conversion back to fiat is necessary. The more private and more 'in the spirit of crypto' we can accomplish this, the better. Also, by using stablecoins it brings to the community a better solution for fiat. It is permisionless, borderless and can be cheap to use. But I agree to the cons also after what happened to Luna and UST.
This makes no sense after your previous statement. First, you like the idea of replacing fiat with crypto, but then you also like crypto that is 'stable' which means 'pegged to fiat'? If we want to get away from fiat, we can't promote 'digital fiat'.. Unless a stablecoin exists that is pegged to 'purchasing power', which I don't think exists as an established index or anything like that. I am not quite certain what you are arguing about if a peg to fiat for you is a problem for a stablecoin. I am only talking about the concept of a stablecoin as a pemissionless, borderless and cheap internet currency we can use in crypto sportsbooks or in marketplaces similar to Opensea. In any case, the whole cryptospace trading market is running on liquidity provided by stablecoins already. I reckon the market capitalization of USDT, USDC and BUSD added together would make in no.3 and this is growing. Also, yes 1 bitcoin = 1 bitcoin but what you can buy with bitcoin during November will presently cost you more today because it is -85% in value. It is a head shaking argument for stability. |
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@ o_e_l_e_o. I only read the news now hehe. It appears Sam Bankman Fried's tactic to become the king of the cryptospace in the bear market is to make money by liquidating everyone through their market maker and cryptofund called Alameda Research then buy them out with the billions they made in liquidation profits hehehe. It will not come as a shock if he also begins to go after those exchanges that might fail in America. Coinbase and Binance.us. FTX’s $250 million credit facility offer – if inked as initially proposed – stood to effectively wipe out all BlockFi shareholders, including Morgan Creek Digital, the firm told its investors.
Morgan Creek Digital, co-founded by Anthony “Pomp” Pompliano, is one of BlockFi’s largest investors. The firm has participated in BlockFi’s Series A through D fundraising rounds across three funds and a special purpose vehicle (SPV), a type of investment structure that allows an investor to invest in a single company.Source https://www.coindesk.com/business/2022/06/25/morgan-creek-is-trying-to-counter-ftxs-blockfi-bailout-leaked-call-shows/ |
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Hehehe it also scares me. What about if we make it optional and we only have a buy yourself out agreement if someone wants to stop playing and leave the game? This will not force anyone to pay, however, it will force everyone to play despite if someone is winning or losing hehehe.
I'm not a fan of punishing people for doing poorly, that seems like pouring salt on the wound. There's plenty of incentive to do well, and something like that might sour the experience for someone. I'd rather keep it as friendly as possible. But without holding back on the banter, of course. Punishment of poor performance was clearly not in my mind when I made the suggestion, only motivation to play until the final day. @morvillz7z. I only want a clean and fair league. I also think that all the participants of our league are honest and will not collude only to win a prize collected from $50 fees hehehehe. It would he a different argument if it was $1000. I am okay in removing it. Is 10 player league official? I will vote for what the majority wants. If it is 10, I am with 10. It might be easier for newbies like me. |
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@stompix. Okay then it appears that speculations on Goldman Sachs and Sam Bankman Fried information exchange might really be true hehe. A similar comment in social media was made by someone that FTX is not saving Blockfi. Sam is only making Sam moves by taking over for the price of zero. This was not very shocking after knowing more about Sam.
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This should bring attention to the importance of Defi protocols like Uniswap, onchain mixing similar to Tornado Cash, usage of anonymous coins and the development ZK rollups similar to ZKsync.
Except all this DeFi stuff can't do fiat on-/off-ramps. You can only get so far with that. Sure, swap one token for another, or even cross-chain atomic swaps. But I believe most of the services that deanonymize users are centralized exchanges, which are seen as the only way to acquire or sell cryptocurrency by most users. Agreed, however, what is the cryptospace if it is not being developed to avoid converting to fiat. I reckon stablecoins might have very good growth in the cryptospace as we have been witnessing since 2017. The liquidity and volume of much of the market is in stablecoins and many exchanges have begun to accept only stablecoins as a replacement for fiat for purposes of compliance. Shadow banking in China is speculated to be running on USDT as their main currency.. Also, by using stablecoins it brings to the community a better solution for fiat. It is permisionless, borderless and can be cheap to use. But I agree to the cons also after what happened to Luna and UST. |
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News update. It appears Goldman Sachs might bail out Celsius. This comes after some news that Blockfi will be bailed out by FTX. I predict those other big cryptolenders like Genesis and Voyager will also have their own bail outs from other cryptowhales and bankers. Changpeng Zhao, Justin Sun, Arthur Hayes and JPMorgan will be in the news hehehe. Goldman Sachs is looking to raise $2 billion from investors to buy up distressed assets from troubled crypto lender Celsius, according to two people familiar with the matter.
The proposed deal would allow investors to buy up Celsius’ assets at potentially big discounts in the event of a bankruptcy filing, the people said.Source https://www.coindesk.com/business/2022/06/24/goldman-sachs-raising-funds-to-buy-celsius-assets-sources/Also, if everyone pays attention to the news, you would know who might have been talking to Goldman Sachs to bail out Celsius. The information exchange might be going back and forth between Goldman Sachs and FTX. This article is from April. Goldman CEO David Solomon met with Sam Bankman-Fried in the Caribbean last month to discuss advisory services for FTX, new report saysSource https://markets.businessinsider.com/news/currencies/sam-bankman-fried-goldman-sachs-ceo-ftx-ipo-fund-raising-2022-4 |
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@ETFbitcoin. It is very different hehe. A loan to pay for costs of operation for bitcoin mining, where there's an assurance of monthly mining revenue is different from taking a loan only to speculate on bitcoin's price and hope it will pump. The miner has a real business, the speculator has nothing but expectations.
I still find it's not that different. After all, the mining revenue heavily depends on Bitcoin price. I fail to see there's assurance mining always profitable. I understand your argument. A falling price and a high hashrate would certainly make it cheaper to buy bitcoin than start mining them if you are not a miner. However, my argument is for those miners that already have their farms and their problem on their monthly cashflow to maintain the business operation. It would be head shaking if mining farm owners get a loan to buy bitcoin then leave the business. |
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I have not read much of the discussions of this thread and this is my first reply. Forgive me if this question has been asked before, however, does anyone speculate that Canelo might be accepting this fight very early after his loss vs. Bivol? GGG should not be very underestimated for this because it also appears that Bivol gave him the tactic to defeat Canelo. GGG also does not look like an old man in the ring with the wins after the loss to Canelo hehe.
Even prior to the Bivol fight, Canelo has already agreed to fight GGG anyway. And it just so happen that he lost to Bivol. But as I have said, this is already made so Canelo can't back up. I don't think it's early though. I mean this fight should have been made years go after the second fight. But Canelo didn't want to and he was like waiting for GGG to reach 40. Although GGG looks sharp against Murata. The blue print is already there, it's that Canelo's opponent seems to be mystified when they face him. Bivol didn't and uses all his physical advantages to beat Canelo. I don't think that GGG has any advantage though. However, they were planning the trilogy vs. GGG having the assumption that Canelo would win against Bivol. Also having the assumption that Canelo will be having full of confidence. I am not very sure how Canelo feels today but there were pictures of him in a casino gambling and drunk after the loss. I speculate his mind might not be there 100% for this trilogy. Canelo will win, however, it might not be very easy as everyone expects. |
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I shake my head when some people say that NFTs are just scams. So it is, NFT in its current form is speculation, wash trading, fraud and money laundering. Those NFTs that are now actively sold on the market, for the most part, they are not worth their money, well, they are not worth the hundreds and thousands of ETH that they ask for. In general, the price of many NFTs is based on the so-called concept of rarity and popularity, but these are such subjective concepts that people speculate on them. I will not even give a bunch of reports on how NFT schemes were organized on opensea and what these tokens were used for. In its current form, people see in the NFT only a speculative component, they don’t care about the technology itself and the possibilities, that’s why the application of the NFTs themselves is such. It appears that you do not differentiate the NFT market from the concept of a new medium of expression and art appreciation. It is very much similar to those mainstream people who do not differentiate the cryptocoin market from concept of cryptocoins. The market is full of manipulation, wash trading, moneylaundering, however, is a cryptocoin like bitcoin a scam? No it is not but it can be used for moneylaudering, fraud and other crimes. The artists and the collectors will come to the cryptospace even if we do not like this. Similar to many people who discovered a new type of medium of exchange, there will also be many people who will discover this new type of medium of expression. We have not yet witnessed how big the concept of NFT will be. I reckon this is only beginning and this is getting ready for the next bull market. If you are a speculator, start doing your research. The next millionaires from nothing will be the investors of NFT and the the Defi protocols that support them. You also say they are only holding NFTs for speculation? I am quite certain many people who are holders of NFTs will disagree with you. They are creating they're own subculture and this will never go away. http://www.nft.nyc/ |
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@ETFbitcoin. It is very different hehe. A loan to pay for costs of operation for bitcoin mining, where there's an assurance of monthly mining revenue is different from taking a loan only to speculate on bitcoin's price and hope it will pump. The miner has a real business, the speculator has nothing but expectations.
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Is there a difference between playing 10 teams and 12 teams?
I think 12 teams would make things easier since we could have the regular season be 11 weeks long, then still have up to 5 weeks for playoffs without having to play week 17. Another option for 12 players is to have 4 divisions, and play each of your division rivals twice. That would make the regular season 13 weeks long, and we'd still have 3 weeks for playoffs without week 17. I would like to keep the playoffs to 3 weeks, that would make for Quarter Finals (8 teams,) Semi Finals (4,) and Finals for the championship. We could still do the same thing without divisions, we'll just have two random teams that we each play twice, then select the top 8 teams for the playoffs. In any case, I might regret this suggestion later. I suggest for everyone's continued motivation until the end of the season, bottom 2 teams pay between $20 and $25 each.
Even though I won the league last year, this scares me.  Hehehe it also scares me. What about if we make it optional and we only have a buy yourself out agreement if someone wants to stop playing and leave the game? This will not force anyone to pay, however, it will force everyone to play despite if someone is winning or losing hehehe. |
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