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1 hour ago, father-of-three said:

With the likely announcement that the country is in a recession in the next week of so cause further dips in the crypto market? 

It is tempting to think that the market has already reached its 

Crypto markets may be at risk this time around until the traditional markets find their footing. One day soon they will disconnect and do their own thing. Imho

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4 hours ago, father-of-three said:

With the likely announcement that the country is in a recession in the next week of so cause further dips in the crypto market? 

It is tempting to think that the market has already reached its low point.

I thought crypto was supposed to be recession proof? LOL.

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4 hours ago, father-of-three said:

With the likely announcement that the country is in a recession in the next week of so cause further dips in the crypto market? 

It is tempting to think that the market has already reached its low point.

OK... do you remember all the noise over metals markets being manipulated by a number of banks? 

Well 

1) The same people who predicted that behavior and how much it would cost also calculated that it would take even less money to manipulate the crypto market.

2) Those banks got into crypto and put themselves in the same position where all "market" transitions of  the commodity being turned into recognized government currency had to pass through them. (i.e. everything but small person to person.) The exception to this being some even LESS ethical people playing that game. 

3) The market was even less regulated than the metals market and metals ETFs. And those were very, very manipulated. 

Unlike with the metals market, there is no commodity with an industrial value at the bottom of the bullshit. Additionally, unlike when that manipulation came home to roost, the banks weren't trying to figure out how to not get caught manipulating a half dozen other things. 

The SEC blessing unlimited naked shorting in the form of single security ETFs might have eased that pressure in one spot, but imploding CMBSs are going to come home to roost real soon now, so they will still want their cash. Especially with their government co-conspirators looking for a fig leaf to cover the corruption... which will likely be the market with the least exposure for the banks. 

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Once the conservatives take back control after the midterms, the stock market will settle down and start a comeback.  At the same time, crypto will start its recovery.  It’s a good time to DCO the top 20 or so crypto now.  Make it a comfortable portion of your portfolio.  Consider physical silver now as well.  Comex contracts are net long now.  Institutions are demanding physical.  I think we’re going to see a nice pop this coming year.   

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On 5/21/2022 at 11:00 AM, 70gto said:

Totally agree not your keys not yoir coins. For the folks that don't know. Its when you take your crypto off the exchanges and place in your private wallet . That no one can take from you. The equivalent of withdrawaling tour funds from the bank and keeping it in your possession in a secure wallet. That's the cliff notes. Can be discussed further if you like. 

Excellent advice!  Get a hardware wallet and transfer your crypto to it.  Secure your recovery passphrase.  

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On 11/10/2022 at 8:57 AM, CMJeepster said:

Fuck that guy.

Mission accomplished. He's been named in a class action lawsuit for his role in promotion.

If you want FTX inside details read this. The 'first day' bankruptcy affidavit has been filed.

"This Is Unprecedented": Enron Liquidator Overseeing FTX Bankruptcy Speechless: "I Have Never Seen Anything Like This" | ZeroHedge

To summarize:

  • No record of any bank accounts
  • No record of any cash accounts
  • No record of any signatories
  • No record of any employees
  • No record of any payables or receivables
  • No record of any investments
  • No record of any decision-making
  • No record of any board meetings
  • No record of anything
  • Haha 1

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On 11/17/2022 at 3:17 PM, 45Doll said:

Mission accomplished. He's been named in a class action lawsuit for his role in promotion.

If you want FTX inside details read this. The 'first day' bankruptcy affidavit has been filed.

"This Is Unprecedented": Enron Liquidator Overseeing FTX Bankruptcy Speechless: "I Have Never Seen Anything Like This" | ZeroHedge

To summarize:

  • No record of any bank accounts
  • No record of any cash accounts
  • No record of any signatories
  • No record of any employees
  • No record of any payables or receivables
  • No record of any investments
  • No record of any decision-making
  • No record of any board meetings
  • No record of anything

It always amazes me how stupid some people are when handing over tons of cash. 

 

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21 minutes ago, 45Doll said:

Now that I think about it, if the objectives were what I think they were, we don't WANT any records of anything!

No different than the boiler rooms of the 80's and 90's. 

 

You would have to be a professional football player level stupid to give your life savings to a 20 something year old to manage with zero background on the person or company. 

 

This reminds me of all the investors in Theranos just blindly threw millions of dollars at a company because of an "idea". 

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25 minutes ago, JackDaWack said:

No different than the boiler rooms of the 80's and 90's. 

 

You would have to be a professional football player level stupid to give your life savings to a 20 something year old to manage with zero background on the person or company. 

 

This reminds me of all the investors in Theranos just blindly threw millions of dollars at a company because of an "idea". 

At least Holmes is going to prison, probably.  It will be interesting to see what eventually happens to the  FTX 'management'.

Theranos was loudly and often declared a fraud by the scientific and medical device community for almost the entire time they were in existence.   A lot of people (and Walgreens) could have avoided the crash by doing even a little due diligence.

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2 hours ago, JackDaWack said:

It always amazes me how stupid some people are when handing over tons of cash. 

 

As long as they have the right ESG bonafides (or woke, or whatever bandwagon currently in vogue).

Hoping this will be a black eye against ESG movement.

https://www.wsj.com/articles/sam-bankman-fried-esg-truth-teller-ftx-cryptocurrency-crash-11668723808?st=nts3qunzv1chmi9&reflink=share_mobilewebshare

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I was skeptical about bitcoin because it seems to me that it is impossible to predict the future value of this currency. Today bitcoin is worth less than $20,000, although a year ago, bitcoin was worth $80,000. Some people lost a lot of money because of that. I've been trading on the fund market for over a year, but I try to minimize the risks. To minimize risks, I use mt5 for android because it is a very handy tool to facilitate the process of trading. It will definitely be useful for beginners and experienced traders.

Edited by ZissLatz

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