End of Crypto?

[Moondoggy]

It is the future but not in its current form.

[77T]

Originally Posted by espanol

What's the DNC have to do with this?

I think it was a satirical reference to SBF’s statement that he is broke - and that his contributions of $6 million to a super PAC for House Democrats and $3 million for one that backs Senate Democrats. 

However, he also paid $3.5 million for the GOP’s Senate Leadership Fund.

He was a political benefactor at 9:3.5 ratio. Plus he touched many more individual campaigns.

But, if you mean in the general sense, what has US Democratic political party finances to do with this? Then I agree it isn’t fair discussion here on TRF.

Like the old conflation of Covid-19 and politics - not fair game on TRF.


Sent from my iPhone using Tapatalk Pro

[HHIslander]

Originally Posted by OverGeared

"[T]he resource FTX, Binance, and all of the other bankrupt or soon-to-be-bankrupt crypto exchanges are competing for is not, say, wood that could be processed into timber, but a steady supply of suckers looking to make a buck in a zero-sum casino game. This is something of a renewable resource, it turns out, but it is not an inexhaustible one."

https://defector.com/binance-lawyer-...human-pyramid/

https://www.reuters.com/markets/us/u...es-2022-12-12/
.

And it’s not too hard to spot those who still have skin in that casino game.

[superdog]

Originally Posted by pickettt

Nearly 450 posts and only a few get it.

Maybe. Maybe they get it.

Time will tell how this plays out.

[joeychitwood]

Originally Posted by pickettt

….only a few get it.

No judgment on your beliefs, but I chuckled when I read this. A sister-in-law who regularly changes her long term plans and finances based on her church’s latest prediction of the Rapture date said the exact same thing to me last weekend. On the other hand, one day, she might be right.

[brandrea]

Originally Posted by joeychitwood

No judgment on your beliefs, but I chuckled when I read this. A sister-in-law who regularly changes her long term plans and finances based on her church’s latest prediction of the Rapture date said the exact same thing to me last weekend. On the other hand, one day, she might be right.

[Star Ferry]

Originally Posted by joeychitwood

No judgment on your beliefs, but I chuckled when I read this. A sister-in-law who regularly changes her long term plans and finances based on her church’s latest prediction of the Rapture date said the exact same thing to me last weekend. On the other hand, one day, she might be right.

This was the point I was making about my mom’s chicken nugget and Hot Pocket casserole. Very few get it. But if you’ve tasted it, you know.

[joeychitwood]

Originally Posted by Star Ferry

This was the point I was making about my mom’s chicken nugget and Hot Pocket casserole. Very few get it. But if you’ve tasted it, you know.

I’m always polite to my SIL just in case I need a good reference from an insider some day.

[ButtButt]

It's pretty interesting to read through this thread and see how polarizing crypto is to everyone. I'm lucky that I got in relatively early so even with this recent crash and FTX debacle I'm still up quite a bit. It's by far the riskiest investment in my portfolio so I've always kind of treated it as a lottery ticket... either it goes to zero, it goes up so much that I'll have an unlimited watch budget, or it lands somewhere in between. I'm perfectly fine with any of these scenarios.

[Star Ferry]

Originally Posted by ButtButt

It's pretty interesting to read through this thread and see how polarizing crypto is to everyone. I'm lucky that I got in relatively early so even with this recent crash and FTX debacle I'm still up quite a bit. It's by far the riskiest investment in my portfolio so I've always kind of treated it as a lottery ticket... either it goes to zero, it goes up so much that I'll have an unlimited watch budget, or it lands somewhere in between. I'm perfectly fine with any of these scenarios.

I agree with ButtButt (never thought I’d type that phrase). If you got in early this is all play-money and the swings are all fluctuations in paper profit. The victims are the late entrants and bandwagoners who joined the run-up with their excess cash during the pandemic.

[Mifune]

^What is 'Money'... I think you need an education in the basics.

[Star Ferry]

Originally Posted by Mifune

^What is 'Money'... I think you need an education in the basics.

Yeah, graduated summa from Wharton but don’t understand “Money’ because there wasn’t a class on crypto. Seriously, though, this is mostly a good quality respectful thread, let’s keep it that way.

[superdog]

Originally Posted by Mifune

^What is 'Money'... I think you need an education in the basics.

no need to always be so confrontational.

[brandrea]

Originally Posted by Star Ferry

… this is mostly a good quality respectful thread, let’s keep it that way.

Agreed.

[kaiRoMa]

Like many things - it's the utility that will stick.

For example, in the dot com bubble, which companies stuck? Google and Amazon did quite well!

Both of these companies are/were indexers. They had the unique and valuable utility of putting desirable information in front of you on demand.

There's only one token that has the opportunity to do this in crypto-land. It is and can become the ultimate Google by way of objectivity, no censorship required. In my opinion, it's that one which will be valuable down the line.

Other than that? Probably gaming tokens. Bitcoin has the problem of cost-curve, and the only solution is to fork it out of it's scarcity.

No one will ever mine the final token because it already costs 20k or so to mine one. Once demand from miners drops off, or the price goes too low, no one will care about its scarcity. Lightning has its utility but when the token goes from 65000 to 15000 in 2 weeks? That's not a world-currency for anyone. It's spec.

That is to say, in my opinion, no it's not dead. It will thrive where it serves a purpose, other than pure speculation

As a currency? Doubtful. As a way of securing and streamlining information computation/service? I believe so.

[enjoythemusic]

To add some levity...

QuickBooks: FTX Edition 2022

[Star Ferry]

Originally Posted by enjoythemusic

To add some levity...

QuickBooks: FTX Edition 2022

A quick look at their books:

[pickettt]

Originally Posted by Mifune

Sam Bankman Fried has been arrested and is in jail.

BREAKING: SBF has been charged with wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and money laundering, per NYT.

and that is just for starters...

I hope the cameras are working at the Metropolitan Correctional Center in Lower Manhattan…this time.

[enjoythemusic]

Ok, so he's at Bahamas Department of Corrections until Feb. 8.

I pick Feb 4. Naaaa, New Years day is probably it.

[MrGoat]

Originally Posted by enjoythemusic

Ok, so he's at Bahamas Department of Corrections until Feb. 8.

I pick Feb 4. Naaaa, New Years day is probably it.

New Year’s Eve. Everyone working is pissed they’re not out partying. Most likely spending their evening and night watching Tik Toc’s of others partying it up.


Sent from my Apple privacy invasion product

[Chewbacca]

Originally Posted by Star Ferry

A quick look at their books:

(I’m still down $247,819,173.01 )

[BLACKHORSE 6]

Originally Posted by pickettt

I hope the cameras are working at the Metropolitan Correctional Center in Lower Manhattan…this time.

Why, what ever do you mean?

There’s no telling what kind of people lost money because of SBF, or what lengths some of those people would be willing to go to. In all seriousness, I do hope that they put adequate security measures in place, including those for self harm.

[904VT]

Originally Posted by enjoythemusic

Bloomberg: FTX Bankruptcy Means $73 Million in Political Donations at Risk of Being Clawed Back

So they just ended up with an interest free loan it seems?

[enjoythemusic]

We'll see, time always tells the tale.

---

i don't expect the jail cell camera(s) to work in their Bahamian jail. Probably easier to suicide him on non-US soil.

Start the bleeding heart rhetoric: We all knew he was obviously a distraught man.

(slow mystical music) Sam Bankman-Fried had deep internal conflicts and simply could not live knowing he caused pain for so many others. His life was filled with joy, MIT, etc....... (music turns deeper in tone) but there's a darker side to his life few of us knew about. Sam Bankman-Fried was brilliant, a man who had a bright future....

The script writes itself.

(Coming Soon September 2023) And on this week's edition of American Greed on CNBCBS, Sam Bankman-Fried....

[JoeJoeBobo]

Originally Posted by espanol

What's the DNC have to do with this?

His illegal $40million donation of FTX customer monies was only the 2nd largest in decades…so theres that! He was also planning a billion donation during next presidential election cycle so there is that too.

[pickettt]

Originally Posted by enjoythemusic

We'll see, time always tells the tale.

---

i don't expect the jail cell camera(s) to work in their Bahamian jail. Probably easier to suicide him on non-US soil.

Start the bleeding heart rhetoric: We all knew he was obviously a distraught man.

(slow mystical music) Sam Bankman-Fried had deep internal conflicts and simply could not live knowing he caused pain for so many others. His life was filled with joy, MIT, etc....... (music turns deeper in tone) but there's a darker side to his life few of us knew about. Sam Bankman-Fried was brilliant, a man who had a bright future....

The script writes itself.

(Coming Soon September 2023) And on this week's edition of American Greed on CNBCBS, Sam Bankman-Fried....

It’s in their playbook.

[enjoythemusic]

Ok, what timepiece is Kevin wearing at the committee right now? Looks like a Breguet or Armin Strom.

319043659_2010656452472707_7335005087414168727_n.jpg

1ited.jpg

[huncho]

lol Kevin actually said binance put ftx out of business

[GradyPhilpott]

"Oh How the Mighty Have Fallen"

[GB-man]

Looks like a wildly out of focus Journe optimum black label.