Following in the footsteps of Terra? With bitcoin crashing heading into early Monday morning, Celsius suspending withdrawals will likely only add serious volatility this week ahead.
Funny 20 + years ago I had the conversation with my mentor. Me”you just don’t understand the dot come boom.” His response “the majority of these companies won’t be around in 3 years.”
Now my son tells me , Dad, “you just don’t understand crypto.” I think back to my mentor and laugh.
1) Crypto is right for a culling, I.e. the auto industry in 1910. It just takes a nudge. That said, btc fundamentals are intact for the long term, though price is riding the roller coaster.
2) There is a lot of invisible blood in the water as institutions start to draft their 2d quarter reports.
Hey man, idk how else to contact you but awesome space last night! You need to have Magoo on your podcast one day. Despite your difference of opinions in crypto, you guys have a lot of commonalities in world views and the dude knows his sh*t. It would sincerely make the world's worst podcast that much... worse?? Idfk, but I love them!
Jun 13, 2022·edited Jun 13, 2022Liked by Quoth the Raven
Pulled mine from the Australian SWYFTX about a month ago because I figured they'd soon have some liquidity problems. Though it was another coin rather than BTC.
Speaking of SWYFTX, they wanted to call me after I set up the account and I figured they just wanted to check out that I was who I said that I was. But no they wanted to know everything about everything. So I told them to go to hell. And they told me that I wouldn't be able to transfer to any wallet that I might have for my dissidence, only to my bank account. So I was hoping my coin would go up so that I could hurt them. It did but I was too slow getting it out and now it's down. Anyway they don't need my help now. They'll be gone soon enough.
I think all the crypto millionaires ( half millionaires now? ) out there have absolutely no idea what to do right now. I'm guessing their still telling themselves that Hodling always pays off, and that 75% corrections are normal.
When they get washed out and swear off crypto for good, then it could be an interesting speculation again. That still feels like it's a ways off though.
I have exactly .0003 of my portfolio allocated to crypto. Just so I can observe the total destruction of the Ponzi scheme in real time and laugh. Cash has a sweet smell right now, despite inflation. Gold smelling even sweeter.
I suppose one has to (grudgingly) admire the “kids” who got in early, made millions, and cashed out.
what a joke, responsibility to preserve value for clients? If you can't withdraw your money, how responsible is that? Sounds like someone is a little over leveraged.
Funny 20 + years ago I had the conversation with my mentor. Me”you just don’t understand the dot come boom.” His response “the majority of these companies won’t be around in 3 years.”
Now my son tells me , Dad, “you just don’t understand crypto.” I think back to my mentor and laugh.
It was so obvious, where has common sense gone?
My guess is that Mashinsky will be charged with selling securities without proper registration.
1) Crypto is right for a culling, I.e. the auto industry in 1910. It just takes a nudge. That said, btc fundamentals are intact for the long term, though price is riding the roller coaster.
2) There is a lot of invisible blood in the water as institutions start to draft their 2d quarter reports.
Hey man, idk how else to contact you but awesome space last night! You need to have Magoo on your podcast one day. Despite your difference of opinions in crypto, you guys have a lot of commonalities in world views and the dude knows his sh*t. It would sincerely make the world's worst podcast that much... worse?? Idfk, but I love them!
Peeeeace!
Pulled mine from the Australian SWYFTX about a month ago because I figured they'd soon have some liquidity problems. Though it was another coin rather than BTC.
Speaking of SWYFTX, they wanted to call me after I set up the account and I figured they just wanted to check out that I was who I said that I was. But no they wanted to know everything about everything. So I told them to go to hell. And they told me that I wouldn't be able to transfer to any wallet that I might have for my dissidence, only to my bank account. So I was hoping my coin would go up so that I could hurt them. It did but I was too slow getting it out and now it's down. Anyway they don't need my help now. They'll be gone soon enough.
I think all the crypto millionaires ( half millionaires now? ) out there have absolutely no idea what to do right now. I'm guessing their still telling themselves that Hodling always pays off, and that 75% corrections are normal.
When they get washed out and swear off crypto for good, then it could be an interesting speculation again. That still feels like it's a ways off though.
I have exactly .0003 of my portfolio allocated to crypto. Just so I can observe the total destruction of the Ponzi scheme in real time and laugh. Cash has a sweet smell right now, despite inflation. Gold smelling even sweeter.
I suppose one has to (grudgingly) admire the “kids” who got in early, made millions, and cashed out.
For anyone interested in how these altcoins generate their “yield”, Allen Farrington wrote a great piece
https://www.uncerto.com/only-the-strong-survive
what a joke, responsibility to preserve value for clients? If you can't withdraw your money, how responsible is that? Sounds like someone is a little over leveraged.
Just wow....
Dammit. I just wanted to buy some bitcoins. I guess, I am bit late to this game....