July 30, 20224 yr Author On 6/20/2022 at 10:25 AM, DEagle7 said: Speaking of financial scams, can anyone explain NFTs to me in a way that doesn't make them sound like the world's dumbest con? Why are you paying so much money for a certificate for a picture of a monkey smoking a cigar? https://medium.com/@nic__carter/redeem-and-retain-nfts-are-the-future-of-luxury-goods-760f00dbce23 This is well written on an iteration of NFTs that will succeed
October 30, 20223 yr Author On 10/28/2022 at 8:07 PM, DaEagles4Life said: Hero always becomes the villain We don't need front end permissioned regulations for defi. Erik has been one of my favorite people in crypto since I've been involved. No one has a clearer, more rational perspective on it and how it should be treated
November 9, 20223 yr 4 hours ago, JohnSnowsHair said: SOL and ETH are tanking. Glad I got out a while back. What's up? FTX collapsed
November 9, 20223 yr Basically FTX and their trading arm got greedy and were not happy ranking in billions in trading fees. They decided to trade customer funds and still managed to F it up
November 11, 20223 yr 4 minutes ago, we_gotta_believe said: FYI for anyone who still has money in blockfi What does this mean for crypto as a whole?
November 11, 20223 yr Just now, Paul852 said: What does this mean for crypto as a whole? Exchanges have come and gone before. MtGox early on was the most notable and pretty significant, but the storm was weathered fairly quickly considering the circumstances. Long-term, I don't expect much of an issue unless it sets off some sort of cascading effect on other exchanges, which I highly doubt. But it's also the reason why you should never keep your money on any unregulated exchange or hot wallet. I broke my own rule when I had $20k in blockfi for a year and a half. Got spooked with some of the pressure from the NJ legislator, the SEC, and then again in the summer when they posted this to their blog: https://blockfi.com/a-message-from-our-founders-july-2022 Cashed out a week later. Apparently I had a month's worth of interest still in the account when I checked just now and it allowed me to request a withdrawal. We'll see if they honor it.
November 11, 20223 yr Author 2 hours ago, we_gotta_believe said: Exchanges have come and gone before. MtGox early on was the most notable and pretty significant, but the storm was weathered fairly quickly considering the circumstances. Long-term, I don't expect much of an issue unless it sets off some sort of cascading effect on other exchanges, which I highly doubt. But it's also the reason why you should never keep your money on any unregulated exchange or hot wallet. I broke my own rule when I had $20k in blockfi for a year and a half. Got spooked with some of the pressure from the NJ legislator, the SEC, and then again in the summer when they posted this to their blog: https://blockfi.com/a-message-from-our-founders-july-2022 Cashed out a week later. Apparently I had a month's worth of interest still in the account when I checked just now and it allowed me to request a withdrawal. We'll see if they honor it. Well said I had a large amount in Blockfi over a year ago but moved it. I convinced friends to use it and also convinced them to move on from them before all this I haven't lost anything in these recent collapses. But, I originally thought the idea of Terra was an exciting one and I never expected FTX to go under like this The lessons from this are: 1. "Not your keys, not your coins." Use self hosted wallets. If you leave anything on an exchange, you better be certain that exchange is beyond legitimate 2. Leverage will kill you 3. Decentralized, open, permissionless immutable finance, where code is law, is the future of money and the future of exchanges. Opaque, closed, centralized exchanges with greedy, "altruistic" humans can never be as honest as math
November 11, 20223 yr Meth head was actually trying to kill defi and in the end will be better off without him. Crypto will definitely go dark for a few years. Saylor liquidation lvl is around 4k so will be interesting if people try to get him as well.
November 13, 20223 yr 12 hours ago, vikas83 said: The whole story that’s coming to light and every hour there’s something new that hits. It’s wild. I can’t wait til there’s a movie and documentary on it.
November 13, 20223 yr Just heard about this. It'll never happen obviously, but how hilarious would it be to say you just scored some tix to watch the Heat play at BBA.
November 14, 20223 yr Really interested to see if they ever figure out how Bankman originally made his money. He’s never given a straight answer on this from what I can gather. He claims to have found some FX arb opportunity. OK, since there is going to be an investigation, let’s see the receipts. Because it sounds awfully shady.
November 15, 20223 yr 6 hours ago, DrPhilly said: Bitcoin down to $16 now, lowest in two years It’s going lower, don’t worry
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