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can you send value to literally anyone, right now? Of course not.
ever sent an international wire? ever had funds locked up by a bank? ever had to receive payment from someone you don’t know or maybe don’t trust?
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what does "failed as a technology" mean? as long as it's a going concern it hasn't failed. anything between failure and adoption by a billion people means it's still too early? could be ten years or 100? this isn't an actionable prediction it's just noise. again i have no horse in this race, just pointing out why you shouldn't be surprised when folks react to big price swings down .👍 1Comment
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Withdrawals halted at BlockFi just now. Makes sense - it was a bankrupt company that was bailed out by FTX, who is also now bankrupt.
Bankrupt-ception.Comment
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This is comedy gold:
Erstwhile Dance Theatre of Dayton performer cum bellhop. Carried (many) bags for a lovely and gracious 59 yo Cyd Charisse. (RIP) Hosted epic company parties after Friday night rehearsals.👍 2Comment
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hey Tim FTX was audited, and look at all the big names on the list of associated firms lol
Relative to other crypto exchanges, transparency and regulatory compliance were virtues for Bankman-Fried’s FTX. Here’s a glimpse of the exchange’s operations, according to its own general counsel, as of August 2022.
SBF was second largest donor to Biden campaign in 2020. Will be interesting to see if he ends up in jail.Comment
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Someone out there commented about the irony of needing billions of dollars of fiat currency, to save a business build around the idea that fiat currency is no longer necessary…. I found that mildly amusing.👍 5Comment
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the beautiful thing is there will be no bailout. Nature is healing.👍 2Comment
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that’s really good
hey Tim FTX was audited, and look at all the big names on the list of associated firms lol
Relative to other crypto exchanges, transparency and regulatory compliance were virtues for Bankman-Fried’s FTX. Here’s a glimpse of the exchange’s operations, according to its own general counsel, as of August 2022.
SBF was second largest donor to Biden campaign in 2020. Will be interesting to see if he ends up in jail.Comment
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The funny thing about this whole year of crypto's meltdown is that almost everything has imploded: algo stablecoins; gargantuan exchanges with supposedly ethical executives at the helm; degen hedge funds; prop trading desks; crypto VC firms; publicly traded BTC-mining companies; all crypto currencies; countries (El Salvador - at this point Bukele needs to be ceremoniously tossed up and over - into the volcano, for bankrupting his country by grifting and daytrading BTC on his phone, then tweeting about it).
Everything has self-immolated - except Tether. So far...Comment
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Lol....no. It is a means of holding assets outside of the current financial system with several characteristics of money, portability, divisibility, scarcity. I wouldn't say dollars are a great store of value either. To me, its biggest values are the portability and the ability to function outside of the current financial system, which probably isn't going to last much longer.Comment
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Lol...it has survived several near death experiences already so I don't want to bet against it. That said I firmly believe it is a total ponzi and this ftx debacle is the best chance to bring this fraud down in a good while. If so, it may not last till the end of the year. Fingers crossed.Comment
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