ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX
18 August 2022, 01:00 AM | #1 |
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Crypto Geniuses?? Three Arrows Capital.
I still can't wrap my head around crypto but should be interesting the comments on this by people here that can.
https://nymag.com/intelligencer/arti...7-8153d54f639f
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18 August 2022, 01:21 AM | #2 |
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I know a couple other rich kids who had huge raises for their crypto funds. These folks are such parasites. Their only skill is access to capital and ability to spin stories, both of which are a direct result of being born with a silver spoon firmly planted in one’s mouth.
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18 August 2022, 01:22 AM | #3 | |
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18 August 2022, 01:24 AM | #4 |
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Scumbags.
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18 August 2022, 02:05 AM | #5 |
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I’m not one for overregulation to the point of hurting business growth, but seriously how have exchanges and other crypto markets been allowed to operate with no oversight at all when the financial asset management industry is criticized and sued over a few basis points. Idiocracy in the year 2022.
You know buy only cheap index funds that buy baskets high and sell low with market cap but then also buy the equivalent of 1980’s pinks slips/OTC in the form of Crypto. At least some of those OTC generated cash flows. Crypto in 2020’s the decade when everyone thinks they’re an expert trader again just like Dot Com bubbles. I can only be amused while smacking my head simultaneously. Btw with all the talk about insider trading, what about crypto market manipulation. |
18 August 2022, 02:13 AM | #6 |
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what do you want to know... I can help.
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18 August 2022, 03:13 AM | #7 | |
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18 August 2022, 03:23 AM | #8 | |
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Yep, that's crypto. We aren't meant to understand it, we're just supposed to buy it. I've had it explained to me ad nauseum and I just don't see how it's worth what the market is pricing it at. |
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18 August 2022, 03:28 AM | #9 | |
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Exactly on everything stated! |
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18 August 2022, 05:49 AM | #10 |
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And the other Rule of Crypto is that if you didn't cash in, you must be an idiot. Which is basically how high all of high finance operates. All those NASA scientists, professors, soldiers, doctors, novelists, etc. making a living doing what they care about and enjoy? Just weren't smart enough to rip people off.
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18 August 2022, 09:17 AM | #11 |
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these guys were the biggest crypto fund and blew up their entire ~15 billion in the 1st quarter of this year. really impressive and the last thing anyone in the space could've ever imagined happening, so they weren't necessarily random schmucks getting loans
the luna collapse which then lead to this took btc down from 40k to 17k in 2 months alone, and eth to < 1000 |
18 August 2022, 10:20 AM | #12 | |
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I think this ^ idea... trading... is conflating and confusing what crypto assets are. It is this lack of understanding that fuels skepticism by the legacy crowd. Suffice to say, that regulation for Cryptocurrrencies is a net positive for that space and ALL current and potential participants welcome such oversight. SOLELY, Bitcoin doesn't suffer from this regulatory imperative because it is NOT a security and has ALREADY been ruled as such... a Commodity. What happened to LUNA/TERRA, 3AC and Voyager was a cascade of liquidations based on the stability (or lack of stability) of the TERRA stable coin. When the TERRA token began to experience liquidity swings, it was not sufficiently collateralized to remain pegged to the USD pairing... and therefore collapsed. It was the collapse of that asset caused a cascade down stream of 3AC and Voyager which were both fine organizations but had extreme exposure to the LUNA/TERRA token and could not weather this liquidity storm. There is still investigations going on, and there is a lot of finger pointing and questions that need to be answered by Do Kwan (founder of Terra)... but it does appear that some of this liquidation started internally and may have been purposefully done. As far as 3AC and Voyager, you can say it was fiduciary mismanagement or you can say it was bad luck but as the entire space is less than 15 years old, it was inevitable that there would be and will continue to be failures and 'Flushing' of the system, but the fact remains that crypto is here to stay and in a few years, NO ONE will remember what happened in 2022. On a personal note... I use Voyager exclusively for brokering my trades and JUST BEFORE they shut down the exchange I managed to pull off my entire portfolio... I still have friends that have liquidity on there that have lost ten of thousands because the funds are locked in place as they go thru the bankruptcy process. the only good thing is that Voyage and 3AC both have vast quantities of assets in the 10's and 100's a billions of dollars... but those assets need to be worked thru to creditors. I saw what was happening in the space because I closely monitor it on a hourly basis and this allowed me to come to the conclusion that something bad was afoot... like I said, I made it out of voyage with 2 days to spare. No more custody of my assets on exchanges for me, Self custody is the only way. |
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18 August 2022, 01:23 PM | #13 |
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Crypto? No Thanks. Best of Luck if you're into it.
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18 August 2022, 01:41 PM | #14 |
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Luck... that's an interesting view.
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18 August 2022, 02:51 PM | #15 |
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Yes. That's my view.
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18 August 2022, 04:11 PM | #16 |
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Crapto.
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19 August 2022, 05:21 PM | #17 |
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DM if you need more crypto tips and tricks
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20 August 2022, 02:07 AM | #18 | |
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20 August 2022, 02:16 AM | #19 |
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I think crypto is just a currency devaluation tool that allows influentials to game other markets such as energy. I guess that’s one way to get the masses to move out of financial assets before a bubble bursts. Crypto distracts participants from the real markets going on and makes for less money chasing value plays as well when it’s one of the more attractive times to buy with the spread. Actually a positive for big traders with it distracting the meme stock folks with NFTs and cryptos and making the pool of potential buyers smaller. Just my opinion though
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20 August 2022, 02:17 AM | #20 |
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20 August 2022, 03:05 AM | #21 |
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Very interesting article. I'm still sticking to regulated securities for the time being.
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20 August 2022, 03:07 AM | #22 | |
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totally different story if you're talking about blue chips vs crypto though but SEC "regulation" does nothing to help retail and everything to help institutions. they were literally shorting more shares of a stock than the public float |
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20 August 2022, 03:13 AM | #23 | |
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Crypto can drop for no apparent reason whatsoever. It's not tied to anything. It's entirely a crap shoot. |
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20 August 2022, 03:17 AM | #24 | |
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I do not believe this is even close to being true, unless you can cite some examples. And proper regulation has no effect on actual price moves, allowing a free flowing secondary market is the purpose of regulation. Edit: I found one for all of 2022 The share price of FB dropped 26% from $323 at the Feb. 2 market close to $237.76. From a market perspective it was a well deserved revaluation based on the massive overbought status of the stock with poor earnings
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20 August 2022, 03:20 AM | #25 | |
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the idea of after hours trading only (imo) adds to the manipulation. if the market was properly regulated they wouldn't route retail orders through dark pools and let algos dump on low volume after hours when most people can't/don't trade |
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20 August 2022, 03:27 AM | #26 | |
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netflix apr 19 close 347, apr 20 open 238 - 30% down move (closed at 226 -35%) meta feb 2 close ~325, feb 3 open 245 - 24% down move snap oct 21 close 75, oct 22 open 58 - 22% down move. followed by 34% drop in may, 35% drop in july amzn july 28 close 122, july 29 open 134 - 10% up move which is over 100 billion in market cap in after hours to the bolded part - so you're saying institutions should be allowed to short 140% of a stocks public float and that's just a free flowing market? countless examples of stuff like this to manipulate price |
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20 August 2022, 03:28 AM | #27 | |
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20 August 2022, 03:33 AM | #28 | |
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this idea that the SEC is out to help people is blatantly false. look at how much evidence there is of insider trading too and nothing is being done. the only time anything was done was when members of the fed were conveniently told they can't trade anymore in oct/nov due to conflicts of interest. ironically the actual top of the bull run lol BBBY thing was hilarious too. RC buys enough of the company to not be an insider then loads up with OTM calls and sells the top because he can create a top knowing that his news will cause a dump |
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20 August 2022, 03:36 AM | #29 | |
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I think the secondary market would work fine without the government — Hong Kong, for example, has hardly any financial regulation compared to the US, but the Hang Seng fills the gap with stricter listing standards than the NYSE or NASDAQ impose. Crypto is a scam IMO not because exchanges need better circuit breakers — that’s an easy fix — but because by design there are minimal protections on your ownership rights. Try to deposit Bitcoin Cash into a Bitcoin wallet, which people accidentally do all the time? Poof, your money is gone. Forget your access code or key? Poof, money is gone. |
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20 August 2022, 03:39 AM | #30 | |
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Got it, good luck to you. You cited the same one stock I did and I have no idea what that has to do with shorting stocks and the amount of float. It was clearly a mistake to try to have a discussion on this forum. You seem to have an agenda.
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