patrick.net

https://www.bloomberg.com/news/articles/2022-11-09/ftx-investors-told-that-without-more-capital-bankruptcy-likely?srnd=premium

$0?

From a $32 billion valuation to a fire sale in 11 months: How FTX nosedived in spectacular fashion

https://markets.businessinsider.com/news/currencies/ftx-crypto-implosion-sam-bankman-fried-loses-billions-sequoia-trillionaire-2022-11

Tom Brady and other super wealthy investors lost big money in FTX’s collapse

https://fortune.com/2022/11/09/tom-brady-ftx-crypto-collapse-lost-investment/

DD214 says

Tom Brady and other super wealthy investors lost big money in FTX’s collapse

https://fortune.com/2022/11/09/tom-brady-ftx-crypto-collapse-lost-investment/

And his wife divorced him...so there's that.

1337irr says

And his wife divorced him...so there's that.

Didn't she make more than him? She also didn't want him to play football anymore. I'd agree with her. They're wealthy enough. Why get brain damage. You're considered the GOAT. I don't see anyone getting remotely near what stats he's achieved. He's going to end on a low note and lose a super model wife that still is hot at her older(ish) age. Some dudes are morons.

Don't pander to the woman, but for christ sake, football is the dumbest sport on the planet. He should have retired by now. Or maybe he's bad with money? Who knows. There's no point in playing anymore. Plenty of endorsement and commentary opportunities to bring in 7 figures easy.

Eric Holder says

Onvacation says

WOW!
BTC 16,591.00USD
−1,956.50 (10.55%)today

Down 10% today. They must have stiffed the mules.

IT"S A BUYING OPPORTUNITY!!!!

It's because of the FTX disaster. whether btc can come back to previous levels and at least hold 20k again remains to be seen, we continue to be bearish, but it won't go away

Crypto Lender BlockFi Pauses Withdrawals in Wake of FTX Collapse

https://www.coindesk.com/business/2022/11/10/crypto-lender-blockfi-pauses-withdrawals-in-wake-of-ftx-collapse/

Bankman-Fried’s Cabal of Roommates in the Bahamas Ran His Crypto Empire – and Dated. Other Employees Have Lots of Questions.

“The whole operation was run by a gang of kids in the Bahamas,” a person familiar with the matter told CoinDesk on condition of anonymity.

https://www.coindesk.com/business/2022/11/10/bankman-frieds-cabal-of-roommates-in-the-bahamas-ran-his-crypto-empire-and-dated-other-employees-have-lots-of-questions/

Eric Holder says

IT"S A BUYING OPPORTUNITY!!!!

I'll say... about time!

BACK UP THE TRUCK!!!

https://www.wsj.com/articles/blockfi-prepares-for-potential-bankruptcy-as-crypto-contagion-spreads-11668534824

BlockFi Prepares for Potential Bankruptcy as Crypto Contagion Spreads

Short AMD and NVIDIA?

Genesis’ Crypto-Lending Unit Is Halting Customer Withdrawals in Wake of FTX Collapse. The unit, known as Genesis Global Capital, serves an institutional client base and had $2.8 billion in total active loans as of the end of the third quarter of 2022.

https://www.coindesk.com/business/2022/11/16/genesis-crypto-lending-unit-is-halting-customer-withdrawals-in-wake-of-ftx-collapse/

zzyzzx says

Short AMD and NVIDIA?

Nvidia is a better short than AMD because AMD has less reliance on mining hardware.

Nvidia: Brace For Obliteration

https://seekingalpha.com/article/4557952-nvidia-brace-for-obliteration

Nobody would never answer me when I used to ask. "What happens when the guy who's Hardware, your BitCoins are running through, runs off with the hard Currency backing the Bitcoins?"

They never liked hearing that, the notion that Cash backs Blockchain digital currency. It's supposed to be the other way around the blockchain is backing the dollar, they said.

What a brilliant Ponzi scheme. Even the Fed Chief was suckered into considering converting our whole economy over to it.

Tenpoundbass says

"What happens when the guy who's Hardware, your BitCoins are running through, runs off with the hard Currency backing the Bitcoins?"

The money going into crypto is consumed. There is no "store of value" to run off with.

BTC Under 15K! BUY!

Miners got kids that have to eat.

Days after its lending unit was forced to halt withdrawals in wake of the collapse of crypto exchange FTX, Genesis Global Trading has mentioned bankruptcy as a potential option as it seeks fresh capital, reports Bloomberg citing people with knowledge of the matter.

https://www.coindesk.com/business/2022/11/21/genesis-bankruptcy-jitters-send-bitcoin-to-fresh-low/

As of the end of July 2022
.



,

Look at Microstrategy and other bitcoin stocks like Coinbase

Bitcoin broke below $16000 recently :-/

When does Microstrategy stock goes to $0 ? I use to live near its headquarters.

.

Let's now have a moment of silence for those who paid $62,000 for their Bitcoins.

Alameda-Backed Crypto Trading Firm 3Commas Says It’s Pretty Sure It Wasn’t Breached - But Not 100% Positive

https://finance.yahoo.com/news/alameda-backed-crypto-trading-firm-131500898.html

Everyone ready for Bitcoin bonds ? Anyone think there might be a problem ahead ?

El Salvador Proposes Digital Securities Bill, Paves Way for Bitcoin Bonds

https://www.coindesk.com/policy/2022/11/23/el-salvador-proposes-digital-securities-bill-paves-way-for-bitcoin-bonds/

Bitcoin may sink further 70% in Standard Chartered list of possible 2023 upsets

https://www.theedgesingapore.com/news/cryptocurrency/bitcoin-may-sink-further-70-standard-chartered-list-possible-2023-upsets

The above article is also on Bloomberg this morning but is behind a paywall

DD214 says

Bitcoin may sink further 70% in Standard Chartered list of possible 2023 upsets

In keeping with my belief that all mainstream press lies and is used exclusively to misdirect people, I bet this is the bottom of the market.

richwicks says

I bet this is the bottom of the market.

You may want to start doing more reading and research before putting any money on the table for that bet. Lots more.

https://www.cnbc.com/2022/12/07/just-8percent-of-americans-have-a-positive-view-of-cryptocurrencies-now-cnbc-survey-finds.html

only 8% have positive view of crypto currency

zzyzzx says

Play stupid games, win stupid prizes.

Onvacation says

BTC Under 15K! BUY!

Miners got kids that have to eat.

Back up over $17K. The kids are eating.

If you could buy a little more and raise the price back up over $30K the miners can afford some hookers and blow again.

The opposite of "store of value" bitcoin is a consumer of value.

richwicks says

I bet this is the bottom of the market.

Cryptoverse: Jump Or Slump? $30k Or $5k? Play The Bitcoin Roulette

https://www.ibtimes.com/cryptoverse-jump-slump-30k-5k-play-bitcoin-roulette-3646565

FYI - I am convinced more pain lies ahead

I wonder where are the bitcoin fans who were dominating this thread a year ago?

Still trying to figure this stuff out. So my three choices to get in the game are:
1. Third party crypto exchange (see Coinbase, binance)
Pros: ease of use
Cons: no keys, no crypto (and if your exchange is located in the Bahamas...)
2. Cold storage wallet
Pros: somewhat easy to use. you own the keys (though you can forget how to access them...)
Cons: reliance on third party software (usually an app) to access wallet and provide on ramp to various crypto networks
3. Set up your own node
Pros: no reliance on third parties
Cons: you are the weakest link

Am I missing anything? The first two seem to break the great promise of crypto, which is decentralization.

Bd6r says

I wonder where are the bitcoin fans who were dominating this thread a year ago?

Bermuda?

Bd6r says

I wonder where are the bitcoin fans who were dominating this thread a year ago?

I'm kinda worried about the one who said he got vaxxed. Seriously.