The famous twitter "crypto" guru Pomp used to shill lies about blockFi. What kind of idiot one has to be to trust such crooks with their savings? I guess too many. I don't know if we already hit the bottom but until the market is cleansed from such trash, there is no reason to expect some wild bull run. So I keep DCAing but won't risk any extreme investment. At least not yet.
https://twitter.com/i/status/1597371512570675205Just to clarify.. it appears that the fund raise was around March 2021.
https://techcrunch.com/2021/03/11/blockfi-lands-a-350m-series-d-at-3b-valuation-for-its-fast-growing-crypto-lending-platform/Of course, some of the projects were more scammy than others - and I get the sense that some of them were trying to run legitimate businesses - including being backed by assets, following proper procedures with customer funds (including proper disclosures), and surely some of them ended up getting involved (and maybe even overly involved) in relations with businesses in which either they did not engage in adequate due diligence and/or maybe sometimes some of these places got greedy by the yield and presumed that the other businesses were legit (and again perhaps back to due diligence and maybe even employing logic to figure out from where the supposed "yield" would be coming from).
So yeah.. I will agree that it can become problematic for some of the sponsoring or venture capital and then if they might also be somewhat O.k. with shitcoins, then it becomes a slippery slope. when starting to put out adverts too.
Pomp does frequently assert that he is bitcoin ONLY.. but then his actions seem to defy that.. maybe not as much as some of the shitcoiner guests that he will have on his podcast..
the FTX guys should be locked up.. but they are not .. instead you and some of the other folks here worried about CZ blah blah blah.. we don't have that kind of evidence on CZ.. .. so too premature.. and better to stay focused on what we know and locking up the FTX criminals instead of losing focus.
Why is it always an either or?
Whats wrong with doing both?
I did not mean to create the impression that I am supporting CZ.. but just proclaiming that there are levels of scamminess... and there are levels of evidence that we might have about what is going on in terms of any potentially bad actor... so historically, I have felt that I had to stand up for tether and USDT.. even though surely there may be some problems with them, but they were not anywhere even close to as bankrupt as UST (terra/luna)..
Also people used to beat up on Arthur Hays.. and Hays is a different character than someone like SBF.. so I am largely trying to avoid painting all the potential problematic areas with the same brush.. and I think that I had at least highlighted several of my distinction areas, but I don't necessarily want to go into some kind of a long tirade of proclaiming how wonderful CZ is.. but people suggesting that it was unfair that CZ was attacking poor widdo SBF (FTX) or that CZ was making baseless allegations about Brian Armstrong.. which those allegations were not baseless.. and CZ backed off of some aspect... even though we should be wondering about what Brian is up to sometimes too..
So I am not all or nothing.. even though some of my ways of making proclamations and criticisms seems to have differing leanings from you.
I find blanket assertions that CZ is evil or CZ is just like SBF to be quite contrary to the facts, even though some assertions about parallel practices are surely fair to make.
I have hardly any sympathy for SBF, even if he might have been a front guy.. but there is clearly strong evidence of intentional misuse of customer funds and even lying to customers and to investors and the creation of that fake token to appear that there was value/assets.. and it the evidence is becoming somewhat more and more clear that SBF's/FTX's accounting practices were so lacking that they likely were criminal for the mere fact that they did not exist or the evidence may have also been destroyed.. including that either he or someone within his chain of command had been involved in some of the hacks that may have also been designed to destroy evidence (sure we do not have complete evidence on those matters yet.. but it is developing in that direction). ..
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