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We're at around 17k for the Bitcoin and the big players are still watching what's coming. At this stage the whales aren't buying. Lot's of awful news over the last couple of months starting with the blowup of Terra, some big scams and now the collapse of FTX. Looks like the negative news stream isn't going to end. Crypto was a wonderful idea but failed due to some unacceptable business practices of some celebrities like the Binance owner. Some smart people in the space have called for regulation of Crypto, but authorities weren't able to put something noteworthy together. In the meantime big scams, collapsing coins and Crypto exchanges evaporated the credibility and trust, that is absolutely vital for every business to prosper. Disappointing. Lots of retail investors which bought Bitcoin at the peak at 60 k have to cope with massive (unrealized or realized) losses. I am quite skeptical if the players in this market can restore the trust and credibility that have been lost due to all these awful scams and collapses.

 

I am going to buy some more shares of small canadian powerhouses. You can find some canadian powerhouses in VAN. You don't have to look across the border to find some nuggets.

 

I am looking forward watching the  rugby game Scotland - New Zealand at Murrayfield stadium tomorrow afternoon.  ::D

Edited by Wolfgang Durst
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21 minutes ago, Wolfgang Durst said:

We're at around 17k for the Bitcoin and the big players are still watching what's coming. At this stage the whales aren't buying. Lot's of awful news over the last couple of months starting with the blowup of Terra, some big scams and now the collapse of FTX. Looks like the negative news stream isn't going to end. Crypto was a wonderful idea but failed due to some unacceptable business practices of some celebrities like the Binance owner. Some smart people in the space have called for regulation of Crypto, but authorities weren't able to put something noteworthy together. In the meantime big scams, collapsing coins and Crypto exchanges evaporated the credibility and trust, that is absolutely vital for every business to prosper. Disappointing. Lots of retail investors which bought Bitcoin at the peak at 60 k have to cope with massive (unrealized or realized) losses. I am quite skeptical if the players in this market can restore the trust and credibility that have been lost due to all these awful scams and collapses.

 

I am going to buy some more shares of small canadian powerhouses. You can find some canadian powerhouses in VAN. You don't have to look across the border to find some nuggets.

 

I am looking forward watching the  rugby game Scotland - New Zealand at Murrayfield stadium tomorrow afternoon.  ::D

Cstr

Gblc

 

Those are my low end gambles right now

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This FTX tire fire is interesting to watch. We might see more centralized exchanges fall like dominos. 
 

I think crypto is far from dead, but now all these scams will get weeded out. IMO decentralized exchanges and scalable proof of work will come out on top. 
 

Gensler will come after all proof of stake. 

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37 minutes ago, HI5 said:

This FTX tire fire is interesting to watch. We might see more centralized exchanges fall like dominos. 
 

I think crypto is far from dead, but now all these scams will get weeded out. IMO decentralized exchanges and scalable proof of work will come out on top. 
 

Gensler will come after all proof of stake. 

This is an absolutely bullseye opportunity for the feds/central banking system to swoop in and look like the heroes.

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sounds like the next bih crypto exchange is on the brink of collapse. Crypto Investors made 90,000 disbursements from Crypto.com in the last couple of hours. CRO token lost 57 % of his value in the last week alone.

 

$18, 1 million in crypto assets can't be withdrawn from FTX mainly from clients of Huobi (a crypto exchange in Asia).

 

Luckily I got out of Crypto by selling all my ETH, Solana, Avalanche, Terra Luna, Near Protocol, ROSE and Polygon early in the year. Puh...

 

 

 

Bild

 

Edited by Wolfgang Durst
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Interesting quote from O'Leary:

 

Days before, O’Leary said, he was looking to make sense of the liquidity issue on FTX's balance sheet. At the time, O’Leary said that he was receiving an influx of “inbound requests” from sovereign wealth and pension funds interested in helping fix FTX’s cash crunch. Bankman-Fried told O’Leary that FTX was looking for $8 billion.

 

“That’s the kind of money that an institution or a sovereign wealth fund can put to work if they thought there was an interesting opportunity,” O’Leary said. “In financial services, liquidity events like this can be interesting investment opportunities if you think it's a legitimate investment and it's not an issue with the regulator.”

 

But by then, Gensler said the crypto industry was “significantly non-compliant” and in need of more regulation.

“The minute that occurred, that was the end of any sovereign wealth fund’s interest,” O’Leary said. “There was no way to get that $8 billion onto the balance sheet of FTX with the regulators hovering overhead.”

 

O’Leary speculated that for FTX to remain solvent, the exchange would have needed between $3.5 billion to $4 billion.

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5 minutes ago, Wolfgang Durst said:

Interesting quote from O'Leary:

 

Days before, O’Leary said, he was looking to make sense of the liquidity issue on FTX's balance sheet. At the time, O’Leary said that he was receiving an influx of “inbound requests” from sovereign wealth and pension funds interested in helping fix FTX’s cash crunch. Bankman-Fried told O’Leary that FTX was looking for $8 billion.

 

“That’s the kind of money that an institution or a sovereign wealth fund can put to work if they thought there was an interesting opportunity,” O’Leary said. “In financial services, liquidity events like this can be interesting investment opportunities if you think it's a legitimate investment and it's not an issue with the regulator.”

 

But by then, Gensler said the crypto industry was “significantly non-compliant” and in need of more regulation.

“The minute that occurred, that was the end of any sovereign wealth fund’s interest,” O’Leary said. “There was no way to get that $8 billion onto the balance sheet of FTX with the regulators hovering overhead.”

 

O’Leary speculated that for FTX to remain solvent, the exchange would have needed between $3.5 billion to $4 billion.

How unusual is FTX? So much of the digital coin story was a lot of smooth and fast talking promoters IMO. lots of money to be lost yet.

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