aristocrat Posted November 10, 2022 Share Posted November 10, 2022 14 minutes ago, BringBackFergy said: Should I sell my BTC that I bought at 60,000? I’m getting nervous. If you loved it there you’re gonna LOVE it here. Quote Link to comment Share on other sites More sharing options...
SoTier Posted November 12, 2022 Share Posted November 12, 2022 FTX Group filed for bankruptcy today. CEO Sam Bankman-Fried has resigned. Crypto Melt Down 1 Quote Link to comment Share on other sites More sharing options...
aristocrat Posted November 12, 2022 Share Posted November 12, 2022 I believe I mentioned 10-12k as the floor earlier. Might buy bitcoin for the second time ever there 1 Quote Link to comment Share on other sites More sharing options...
Sundancer Posted November 12, 2022 Share Posted November 12, 2022 10 hours ago, aristocrat said: I believe I mentioned 10-12k as the floor earlier. Might buy bitcoin for the second time ever there The last super confident poster in this thread has a string of bad predictions on his Twitter account. I wouldn’t trust anyone giving advice here. Quote Link to comment Share on other sites More sharing options...
unbillievable Posted November 12, 2022 Share Posted November 12, 2022 Has anyone checked if Poleshifter is okay? 1 Quote Link to comment Share on other sites More sharing options...
Poleshifter Posted November 12, 2022 Share Posted November 12, 2022 2 hours ago, unbillievable said: Has anyone checked if Poleshifter is okay? I'm fine, just waiting out the low market. XLM and XRP will bounce back. Sadly, BTC and ETH will likely never regain their all-time highs. 1 Quote Link to comment Share on other sites More sharing options...
BillsFan4 Posted November 12, 2022 Share Posted November 12, 2022 https://decrypt.co/114246/rise-fall-sam-bankman-fried-ftx https://www.reuters.com/markets/currencies/rise-fall-crypto-exchange-ftx-2022-11-10/ I am just catching up on the story this morning. But wow, this Sam bankman-fried story is nuts. He was supposed to be crypto’s golden child. FTX was one of the bigger exchanges. Not sure what to make of the owner of binance either (biggest exchange) in all of this. He already seemed somewhat shady to me and I believe is (still) under investigation for money laundering and the bank secrecy act. He’s continually rebuffed requests for documents from investigators and investors for years now. 🤔 I feel bad for all the people with assets trapped in FTX now as they await bankruptcy proceedings. https://www.forbes.com/sites/mariagraciasantillanalinares/2022/11/12/billions-of-ftx-assets-in-limbo-as-exchange-follows-voyager-into-bankruptcy/?sh=77b4171e3f72 https://blockworks.co/news/ftx-users-band-together-had-entire-net-worth-on-there-oops/ I also feel bad for the 3.5 million people with assets trapped in Voyager, because ftx was supposed to be rescuing them from bankruptcy and paying back all those people. Now that goes up in smoke too. https://www.cnbc.com/2022/08/15/voyager-customers-beg-new-york-judge-for-money-back-after-bankruptcy.html I see that BlockFi has also paused transactions due to FTX (since FTX had also “rescued” them over the summer) https://fortune.com/2022/11/11/ftx-collapse-blockfi-pausing-client-withdrawals/ I think there were 130 different companies under bankman-fried’s umbrella. So what do you all think this means for the crypto world? 1 Quote Link to comment Share on other sites More sharing options...
aristocrat Posted November 12, 2022 Share Posted November 12, 2022 6 hours ago, Sundancer said: The last super confident poster in this thread has a string of bad predictions on his Twitter account. I wouldn’t trust anyone giving advice here. oh I’m not giving or taking advice. Just looking to trade it 1 Quote Link to comment Share on other sites More sharing options...
unbillievable Posted November 12, 2022 Share Posted November 12, 2022 5 hours ago, BillsFan4 said: So what do you all think this means for the crypto world? Converting your crypto back to dollars was always the problem. That market will continue as long as the holders are willing to exchange coins between themselves, but will find it difficult to expand as retailers stop accepting them as payment. 1 Quote Link to comment Share on other sites More sharing options...
TheCockSportif Posted November 13, 2022 Share Posted November 13, 2022 2 hours ago, unbillievable said: Converting your crypto back to dollars was always the problem. That market will continue as long as the holders are willing to exchange coins between themselves, but will find it difficult to expand as retailers stop accepting them as payment. I think that there's a bigger issue: how to cover payouts. The FTX thing, while unsurprising, has brought to light the dodgy nature of this industry. Just now, TheCockSportif said: I think that there's a bigger issue: how to cover payouts. The FTX thing, while unsurprising, has brought to light the dodgy nature of this industry. Okay, @TBBills, have at it. Why am I wrong? 1 Quote Link to comment Share on other sites More sharing options...
Mean Mr Mustache Posted November 13, 2022 Share Posted November 13, 2022 I started learning about crypto in late 2020. I remember looking at Shiba Inu being shilled in various places back in late January 2021 and thinking to myself, "scam, pump 'n' dump, etc etc". So I stayed away. Anyway I crunched the numbers a short while ago and ended up calculating that if I had bought $1000 worth of SHIB back in 1/2021, 4 months later it would have been worth something like $400,000,000. That run from Dec '20 to mid '21 was something else. Quote Link to comment Share on other sites More sharing options...
Terry Tate Posted November 15, 2022 Share Posted November 15, 2022 Quote Link to comment Share on other sites More sharing options...
Joe Ferguson forever Posted November 15, 2022 Share Posted November 15, 2022 Hell no. down too far already in the real stock market. 1 Quote Link to comment Share on other sites More sharing options...
TBBills Posted November 16, 2022 Share Posted November 16, 2022 (edited) On 11/12/2022 at 7:38 PM, TheCockSportif said: I think that there's a bigger issue: how to cover payouts. The FTX thing, while unsurprising, has brought to light the dodgy nature of this industry. Okay, @TBBills, have at it. Why am I wrong? This is common in money markets, Wall Street investment banks have gone the same way. Hedgefunds fail and lose people millions, stock market crash, collapses, Bernie Madoff, Enron, tech bubble, housing market crash, current realtor failure in China. Where you have huge money you will have failures. This is no different, crypto is too big to ever go away. FTX collapse just meant that the big banks and investment firms just bought up even more crypto. More will fail, this isn't the first but it also hasn't done anything to stop the people with money from buying even more into it. While you might think this is something new in reality it's actually more common than you know. As for poleshifter that poor guy still trapped in his "twitter facts" the only thing he has going for him is he hasnt sold... who knows if he is even telling the truth. Edited November 16, 2022 by TBBills Quote Link to comment Share on other sites More sharing options...
TBBills Posted November 16, 2022 Share Posted November 16, 2022 (edited) Little advice for anyone who did for some reason buy when the prices were high. You can sell at a loss to offset capital gains taxes and buy back in at the same price immediately. The fact is things won't get better until the interest rate goes back down which probably won't happen for another 6-8 months and that is if everything goes well. Sadly American household debt is increasing at an alarming rate so the bottom right now might not even be the real bottom, yet. Edited November 16, 2022 by TBBills Quote Link to comment Share on other sites More sharing options...
Greybeard Posted November 16, 2022 Share Posted November 16, 2022 I went to the post office today, and there was a Bitcoin machine next to the stamp machine. After some thought, I bought $500 in Forever Stamps. In the end, I think that will be a far better investment. 1 Quote Link to comment Share on other sites More sharing options...
Jauronimo Posted November 16, 2022 Share Posted November 16, 2022 5 minutes ago, Greybeard said: I went to the post office today, and there was a Bitcoin machine next to the stamp machine. After some thought, I bought $500 in Forever Stamps. In the end, I think that will be a far better investment. Please keep us updated when the next bull run in Forever Stamps starts. Whats the latest news from the new generation of Forever Stamp millionaires? 1 1 Quote Link to comment Share on other sites More sharing options...
DrDawkinstein Posted November 16, 2022 Share Posted November 16, 2022 11 hours ago, TBBills said: Little advice for anyone who did for some reason buy when the prices were high. You can sell at a loss to offset capital gains taxes and buy back in at the same price immediately. The fact is things won't get better until the interest rate goes back down which probably won't happen for another 6-8 months and that is if everything goes well. Sadly American household debt is increasing at an alarming rate so the bottom right now might not even be the real bottom, yet. Correct. There are no Wash Sale rules with crypto, so if you are currently sitting at a loss, you should sell and buy right back, and claim those losses on your taxes. Other than that, it's a great time to load up with everything on sale! Stocks too! 1 Quote Link to comment Share on other sites More sharing options...
Doc Posted November 22, 2022 Share Posted November 22, 2022 So reportedly Tommy and Gis invested $650M into FTX? Ouch babe! 1 Quote Link to comment Share on other sites More sharing options...
DrDawkinstein Posted November 22, 2022 Share Posted November 22, 2022 10 minutes ago, Doc said: So reportedly Tommy and Gis invested $650M into FTX? Ouch babe! Gives me a little solace to see that the rich are getting scammed in crypto too 🤣 Quote Link to comment Share on other sites More sharing options...
Doc Posted November 23, 2022 Share Posted November 23, 2022 8 hours ago, DrDawkinstein said: Gives me a little solace to see that the rich are getting scammed in crypto too 🤣 That’s a stupid amount of money to invest in anything, much less crypto. 1 Quote Link to comment Share on other sites More sharing options...
Sundancer Posted December 1, 2022 Share Posted December 1, 2022 1 Quote Link to comment Share on other sites More sharing options...
Jauronimo Posted December 1, 2022 Share Posted December 1, 2022 On 11/22/2022 at 6:19 PM, Doc said: That’s a stupid amount of money to invest in anything, much less crypto. What do you do when you have a stupid amount of money to invest? I hope to find out one day. Quote Link to comment Share on other sites More sharing options...
mead107 Posted December 1, 2022 Share Posted December 1, 2022 You can still invest in meadcoins 2 Quote Link to comment Share on other sites More sharing options...
aristocrat Posted December 1, 2022 Share Posted December 1, 2022 On 11/16/2022 at 1:32 PM, Greybeard said: I went to the post office today, and there was a Bitcoin machine next to the stamp machine. After some thought, I bought $500 in Forever Stamps. In the end, I think that will be a far better investment. wasn’t this the original Ponzi scheme? I think it was ponzi claiming he could buy stamps overseas cheaper and sell them here for a profit or something. Quote Link to comment Share on other sites More sharing options...
Jauronimo Posted December 1, 2022 Share Posted December 1, 2022 21 minutes ago, aristocrat said: wasn’t this the original Ponzi scheme? I think it was ponzi claiming he could buy stamps overseas cheaper and sell them here for a profit or something. Basically. https://en.wikipedia.org/wiki/Charles_Ponzi Quote Link to comment Share on other sites More sharing options...
Greybeard Posted December 1, 2022 Share Posted December 1, 2022 50 minutes ago, aristocrat said: wasn’t this the original Ponzi scheme? I think it was ponzi claiming he could buy stamps overseas cheaper and sell them here for a profit or something. I was unaware of the Ponzi scheme connection to stamps. The link that Jauronimo posted is a good read. The one thing Crypto shares with Ponzi, those that got in early mostly made out ok. Those that got in at or after the peak, not so much. In the end the value of anything is what you can get for it. That applies to Crypto, stocks, housing, classic cars, beany babies, baseball cards, etc. I forgot, the Greenback. Quote Link to comment Share on other sites More sharing options...
Poleshifter Posted December 8, 2022 Share Posted December 8, 2022 On 12/1/2022 at 1:20 PM, Greybeard said: The one thing Crypto shares with Ponzi, those that got in early mostly made out ok. Those that got in at or after the peak, not so much. My first crypto purchase was in October 2020. I have continued to purchase XRP and XLM since that time. There is still time to buy into those assets and make money from them. But this is not the "buy today, sell next week" kind of trading. It takes some patience to wait for the market to change. When things change, it will be dramatic. If you believe in Forbes, here is an article on Ripple/XRP. Forbes article on Ripple (XRP) Quote Link to comment Share on other sites More sharing options...
Punching Bag Posted December 9, 2022 Share Posted December 9, 2022 Isn't this fad like mood rocks done? Quote Link to comment Share on other sites More sharing options...
Poleshifter Posted December 9, 2022 Share Posted December 9, 2022 1 hour ago, Limeaid said: Isn't this fad like mood rocks done? Crypto a fad? Hardly. It is the future of business. if you know which coins will be used in the financial systems, you can make a lot of money. The coins which can’t be regulated (BTC, Eth, etc) are pretty much a fad. 1 Quote Link to comment Share on other sites More sharing options...
Jauronimo Posted December 9, 2022 Share Posted December 9, 2022 13 hours ago, Poleshifter said: Crypto a fad? Hardly. It is the future of business. if you know which coins will be used in the financial systems, you can make a lot of money. The coins which can’t be regulated (BTC, Eth, etc) are pretty much a fad. Would you say the future of crypto lies in centralized, regulated, trackable utility tokens? Quote Link to comment Share on other sites More sharing options...
Poleshifter Posted December 9, 2022 Share Posted December 9, 2022 2 hours ago, Jauronimo said: Would you say the future of crypto lies in centralized, regulated, trackable utility tokens? Regulated. In compliance with ISO 20022. 1 Quote Link to comment Share on other sites More sharing options...
Poleshifter Posted December 31, 2022 Share Posted December 31, 2022 I have mentioned ISO 20022 a few times. Here is an article explaining what it is all about, which cryptos are ISO 20022 compliant, and why it is important. ISO 20022: the revolution in financial messaging and the crypto world 1 Quote Link to comment Share on other sites More sharing options...
Warcodered Posted January 13, 2023 Share Posted January 13, 2023 Quote Link to comment Share on other sites More sharing options...
DrDawkinstein Posted January 13, 2023 Share Posted January 13, 2023 We're BACK BABY!! TO THE MOOOON!! (lol) Quote Link to comment Share on other sites More sharing options...
Don Otreply Posted January 15, 2023 Share Posted January 15, 2023 Nah, don’t do ponzi schemes, Quote Link to comment Share on other sites More sharing options...
DrDawkinstein Posted January 17, 2023 Share Posted January 17, 2023 Up 20% over last 7 days! Sell now and buy back cheaper when it all crashes next week! Quote Link to comment Share on other sites More sharing options...
DrDawkinstein Posted January 30, 2023 Share Posted January 30, 2023 Still up! (surprisingly) Quote Link to comment Share on other sites More sharing options...
Poleshifter Posted February 15, 2023 Share Posted February 15, 2023 If you have invested in Ethereum, you may want to read these articles. Ethereum staking ban? SEC overshadows shanghai hard fork With the SEC going after Staking, the Ethereum Shanghai Hard Fork Upgrade (due on March 20) might not be good news as originally hoped. If the Seven Siblings is activated on Ethereum, this major sell off will crash the price badly. If you want a good alternative to ETH, Stellar Lumens (XLM) would be a wise choice, even though some posters like to give me grief about it. Why Stellar Lumens? Stellar Lumens joins CFTC global market advisory committee Quote Link to comment Share on other sites More sharing options...
DrDawkinstein Posted March 22, 2023 Share Posted March 22, 2023 😎 Quote Link to comment Share on other sites More sharing options...
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