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Message Subject Breaking: FTX files for Bankruptcy, founder started FTX 13 days after Biden said he was running and became megadonor
Poster Handle Anonymous Coward
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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.
 Quoting: Dr. Daniel Jackson, SG1 81523772


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.
 Quoting: The Årtist


Well said, Sir!

Eventually, EVERYONE will own some BTC, at the price they deserve.
 
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