Crypto humour
- Thread starter Goldfreak
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Maybe we could change the name of this thread to dark crypto humour :argh: positive. It will stop falling. Somewhere. Negative. Hope Tesla or other major fund doesn't announce they have already sold there crypto holdings. They will all use the environment reason as an easy out to make themselves look better but really they are just being ruthless and making money from everyone.
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Noob trade, so true :argh:
:lol: :lol:
:lol: :lol:
Financial guru Henny Penny tells me the crypto punchline is coming up soon.
Or $200 million!
Especially if in FTX, which is huge (tens of billions of dollars) following smaller disasters like Terra/Luna, Three Arrows Capital, Celsius, and Voyager. Bitcolin looks unwell.....
The man bought thousands at $10 and as supply started to diminish, the villagers stopped their effort. He further announced that he would now buy at $20. This renewed the efforts of the villagers and they started catching monkeys again.
Soon the supply diminished even further and people started going back to their farms. The offer increased to $25 each and the supply of monkeys became so little that it was an effort to even see a monkey, let alone catch it!
The man now announced that he would buy monkeys at $50! However, since he had to go to the city on some business, his assistant would now buy on behalf of him.
In the absence of the man, the assistant told the villagers; "Look at all these monkeys in the big cage that the man has collected. I will sell them to you at $35 and when the man returns from the city, you can sell them to him for $50 each."
The villagers rounded up with all their savings and bought all the monkeys.
They never saw the man nor his assistant, only monkeys everywhere!
Now you have a better understanding of how the cryptocurrency market works.
Once upon a time in a village, a man appeared and announced to the villagers that he would buy monkeys for $10 each...
The villagers, seeing that there were many monkeys around, went out to the forest and started catching them.The man bought thousands at $10 and as supply started to diminish, the villagers stopped their effort. He further announced that he would now buy at $20. This renewed the efforts of the villagers and they started catching monkeys again.
Soon the supply diminished even further and people started going back to their farms. The offer increased to $25 each and the supply of monkeys became so little that it was an effort to even see a monkey, let alone catch it!
The man now announced that he would buy monkeys at $50! However, since he had to go to the city on some business, his assistant would now buy on behalf of him.
In the absence of the man, the assistant told the villagers; "Look at all these monkeys in the big cage that the man has collected. I will sell them to you at $35 and when the man returns from the city, you can sell them to him for $50 each."
The villagers rounded up with all their savings and bought all the monkeys.
They never saw the man nor his assistant, only monkeys everywhere!
Now you have a better understanding of how the cryptocurrency market works.
As the Limbo teacher said "How Looooow can you go!"
Seen it all before, so still buying
Seen it all before, so still buying
More of a worry that 6 crypto companies have gone under - it strikes me that crypto is very sensitive to panic selling when that occurs.
https://www.yahoo.com/entertainment/fallout-sam-bankman-frieds-ftx-153500948.html
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How do you liquidate a company/currency that doesn't actually have physical assets?
Very difficult when the only tangible asset is the registered trademark on the name.
If someone was clever enough they could conjure up a fanciful currency like monopoly money and sell the fake assets off for monopoly bucks, then have the hype of a pyramid scheme to get the general public excited about buying shares or coins in this dissolved imaginary equity..
Naahhhh noones that silly....
Very difficult when the only tangible asset is the registered trademark on the name.
If someone was clever enough they could conjure up a fanciful currency like monopoly money and sell the fake assets off for monopoly bucks, then have the hype of a pyramid scheme to get the general public excited about buying shares or coins in this dissolved imaginary equity..
Naahhhh noones that silly....
They do have assets. Or did....
Interestingly it has been claimed that they illegally loaned investors funds to another company (which would become a debt on the other company to be recovered by receivers). And another claim is that the Bahamas government is holding its assets. Rumours abound......
But funds did not simply cease to exist (they stopped all withdrawals)
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Keep up the truth Goldierocks , hope the dopes will get it !
Cheers & Beers
Jack
Cheers & Beers
Jack
Apart from creating their own token FTT which which was traded on the open market, they appear to have been donating large sums to Politicians and bailing out failed Cypto businesses using investors funds. Indications are that Alameda, their trading and market making business was broke in June, which raised the flag with CZ. Even FTX's employees were drawn in and encouraged to place their savings with FTX otherwise they weren't part of 'The company culture' and this threatened their employment position, they've also lost everything.
As the whole saga unraveles it becomes weirder and weirder, SBF was a crook with bribed pollies in his pocket. Yes there was money, a bloody lot of it, all traded to zero or given away! Fortunately they couldn't comply with Aussie SMSF laws so we had nothing with them, but know a few that did.
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Hey Dihusky .
Keep them coming !
jack
Keep them coming !
jack
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