Godlike Productions - Reply to Thread

Users Online Now: 3,271 (Who's On?)	Visitors Today: 1,113,877
Pageviews Today: 2,108,479	Threads Today: 1,005	Posts Today: 18,577
10:26 PM

Back to Thread

REPLY TO THREAD

Subject Breaking: FTX files for Bankruptcy, founder started FTX 13 days after Biden said he was running and became megadonor

User Name

Font color: Font:

In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.

[quote:Anonymous Coward 78293496:MV81MjgxNTU4Xzk3MzM1NDU0XzJEN0E0OTY3]
[quote:The Årtist:MV81MjgxNTU4Xzk3MzM1MzYwXzQ3NUM4Mzg=]
[quote:Dr. Daniel Jackson, SG1 81523772:MV81MjgxNTU4Xzk3MzM0ODA1Xzk2QUMxM0I1]
For something (crypto) that's supposed to be sooo wonderful, sure seems like a lot of bad shit happens to it.

Crypto-tards really should take a pause and look at it critically, it's failed on many levels.

I'm not a gold-tard or anything else. The system we have is actually pretty good, except for the fact the government can print at will.

But even that is a priviledge reserved for the US, other governments that try it destroy their economies.

Be grateful for what we have my fellow GLPer's, most alternatives are much worse.
[/quote]

Crypto is fine. It's not the tokens, it's the exchanges. FTX was using a self created token as collateral to secure loans to invest on margin. Their token had to stay a certain price to keep everything afloat.

This really isn't any different than sub prime lending, Enron, Lehman Brothers, Bernie Madoff etc.

To be honest it's just growing pains. Yeah it might suck for many people, but crypto isn't going anywhere and it will be the foundation of whatever the next iteration of the economy is. Like we left the gold standard and went on the oil standard, now we'll be going to crypto. It'll take several more years for everything to settle out.

But I will say this, right now in crypto it's probably the best place to make generational wealth... but that door is closing. You recommend playing it safe, but playing it safe has made zero wealthy people. And by wealthy I mean millions or more.
[/quote]

Well it seems to me, the door is wide open!  In the next few weeks it will be even more open, as BTC drops below 10k
[/quote]

Original Message

https://twitter.com/_/status/1591071832823959552

Probably means everyone's money is going to be seized so they can reorganize.

Straight from their own website:

FTX is currently unable to process withdrawals. We strongly advise against depositing.

[link to ftx.com (secure)]

and for more conspiracy....

https://imgur.com/a/8VJalcm

Pictures (click to insert)