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Bitcoin-Explain to me how to buy these things (2 Viewers)

Nathan R. Jessep said:
That's awful if true. Idk who his financial advisor is, but not diversifying that investment was asking for trouble.
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I'm not seeing any confirmation that they dumped all their money into FTX, I see that they took an equity position in the company, but no idea how much they put in, or what kind of points hey got for their money.

Most likely, Tom got a sweet deal for whatever he invested, in terms of equity, including equity for agreeing to promote them. Seems unlikely that Gisele and Tom liquidated everything they had, and invested it all in FTX tokens. So, he might have been holding millions in tokens that are worth 20% of what they were, and that sucks, but not the same as Tom cutting a check for 60 million (or whatever) for tokens.
 
massraider said:
Nathan R. Jessep said:
That's awful if true. Idk who his financial advisor is, but not diversifying that investment was asking for trouble.
Click to expand...
I'm not seeing any confirmation that they dumped all their money into FTX, I see that they took an equity position in the company, but no idea how much they put in, or what kind of points hey got for their money.

Most likely, Tom got a sweet deal for whatever he invested, in terms of equity, including equity for agreeing to promote them. Seems unlikely that Gisele and Tom liquidated everything they had, and invested it all in FTX tokens. So, he might have been holding millions in tokens that are worth 20% of what they were, and that sucks, but not the same as Tom cutting a check for 60 million (or whatever) for tokens.
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I hope this is the case, just posting what I've seen.
 
massraider said:
Nathan R. Jessep said:
That's awful if true. Idk who his financial advisor is, but not diversifying that investment was asking for trouble.
Click to expand...
I'm not seeing any confirmation that they dumped all their money into FTX, I see that they took an equity position in the company, but no idea how much they put in, or what kind of points hey got for their money.

Most likely, Tom got a sweet deal for whatever he invested, in terms of equity, including equity for agreeing to promote them. Seems unlikely that Gisele and Tom liquidated everything they had, and invested it all in FTX tokens. So, he might have been holding millions in tokens that are worth 20% of what they were, and that sucks, but not the same as Tom cutting a check for 60 million (or whatever) for tokens.
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Reminds me of news about Trevor Lawrence losing big last year when crypto went through a big drop. The articles said he was paid in crypto and so his salary tanked. He came back and tweeted that his NFL pay wasn’t in crypto and it was from his paid promotion of some crypto. This smells the same. It’s likely complete BS. They were likely paid for their promotions, maybe in equity and maybe they did also invest some, probably at a nice rate as well. I very highly doubt that they sunk their fortune into FTX.
 
brun said:
Nathan R. Jessep said:
dailyhodl.com

Trader Who Accurately Predicted 2022 Crypto Crash Says End of Market Meltdown in Sight, Details Bitcoin Price Target - The Daily Hodl

A crypto trader known for accurately predicting the previous market crash earlier this year thinks the current digital asset price downtick is "far from over."
dailyhodl.com dailyhodl.com

He says 14K. This aligns with several other analysts I follow (and what I've posted in the thread here).

And yep, @KGB, this is the time to be doubling down on projects you believe in. This is CryptoMart and everything is on sale! :lol: I'm going to scoop some more SOL today I think. Still thinking it (and everything else) will become cheaper, but at the same time, it's hard to pass up these prices.
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You may want to wait a little. The current SOL epoch ends 8:30 UTC, Nov 10. About 50 million tokens. Probably a lot of token owners will look to sell and drive the price down futher.
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found this writeup: https://finbold.com/over-900-million-solana-to-be-unlocked-in-24-hours-will-sol-crash-further/

Thanks again! I think I'm going to buy a small amount today, and be ready to pounce if it nosedives. This project is a no-brainer for the long term, IMO. It's still on the TEST net.
 
dailyhodl.com

Analyst Who Completely Nailed 2022 Crypto Crash Sets New Targets for Bitcoin and Ethereum - The Daily Hodl

The crypto analyst who called this year’s crypto crash is forecasting imminent new lows for Bitcoin (BTC) and Ethereum (ETH).
dailyhodl.com dailyhodl.com

“Key support has been broken and yet you see people bullish. $14,000 is like a magnet.” :coffee:

He later modified his Bitcoin price estimate by putting it as low as $13,000, arguing that investors have given up trying to make up for lost gains.

“Potential targets for a local bottom after capitulation event: Bitcoin $13,000-$14,000.”

-----------------

he also calls for < 0.25 Cardano ($ADA) which I am planning on scooping as well
 
Nathan R. Jessep said:
KGB said:
Everything is on fire!!!

Ahhhhhhhhhhhhhhhh!
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ALL my price alert notifications are going off! :lol: I love it. Time to stock up! Cryptomart is open!
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BUY THE DIP YOU FOOLS!!!!!

fruity pebbles said:
Ole Sam going to end up in jail as well as broke? They are going to look for a scapegoat in all this.
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If any of you are ever in a position to lose 10's of billions of dollars please, don't do this https://twitter.com/SBF_FTX/status/1590709166515310593
 
beer 30 said:
Nathan R. Jessep said:
KGB said:
Everything is on fire!!!

Ahhhhhhhhhhhhhhhh!
Click to expand...
ALL my price alert notifications are going off! :lol: I love it. Time to stock up! Cryptomart is open!
Click to expand...

BUY THE DIP YOU FOOLS!!!!!

fruity pebbles said:
Ole Sam going to end up in jail as well as broke? They are going to look for a scapegoat in all this.
Click to expand...
If any of you are ever in a position to lose 10's of billions of dollars please, don't do this https://twitter.com/SBF_FTX/status/1590709166515310593
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Words of wisdom.
 
Yeah, I had some fun with this a few years ago and even after the crash I was still slightly ahead of the game. Thought it would be wise to just park it in Blockfi and just draw a little interest while nothing was going on. It was always money "I could lose." I always assumed that would be due to dumb trades though. ****

:sadbanana:
 
I got out of most of the exchanges a bit ago, but I have been using the BlockFi credit card for a while and accumulating BTC rewards. I was lazy withdrawing them so had about a year's worth of CC rewards still in there for a decent chunk.

I initiated the withdrawal yesterday about 30 minutes before they posted the tweet about suspending withdrawals, so MAYBE have a chance it will process. But I'm not hopeful.
 
Anyone have a cliff notes version of why FTX is broke?

Also can you not get your crypto off FTX and onto a digital wallet?
 
jm192 said:
Anyone have a cliff notes version of why FTX is broke?

Also can you not get your crypto off FTX and onto a digital wallet?
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It seems that they used the value of FTT to backstop their loans to Alameda, etc. The leverage that caused caught them when Binance dumped their stash and tanked the coin. From there is was a death spiral.

Luckily I've been out of all this stuff since April. Unless Celsius does clawbacks.
 
St. Louis Bob said:
I truly feel for those that bought high and lost a fortune. I know there are plenty who don't, but I do.
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I think you’d have to be pretty heartless to not feel for them. It’s one thing to lose money because some coin tanked — that’s the risk of investing. It’s another to just completely have the money stolen from them via these seemingly safe exchanges. That’s not something that could be reasonably expected.
 
Capella said:
St. Louis Bob said:
I truly feel for those that bought high and lost a fortune. I know there are plenty who don't, but I do.
Click to expand...
I think you’d have to be pretty heartless to not feel for them. It’s one thing to lose money because some coin tanked — that’s the risk of investing. It’s another to just completely have the money stolen from them via these seemingly safe exchanges. That’s not something that could be reasonably expected.
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who could have ever expected an unregulated exchange to be fraudulent?
 
Alex P Keaton said:
Capella said:
St. Louis Bob said:
I truly feel for those that bought high and lost a fortune. I know there are plenty who don't, but I do.
Click to expand...
I think you’d have to be pretty heartless to not feel for them. It’s one thing to lose money because some coin tanked — that’s the risk of investing. It’s another to just completely have the money stolen from them via these seemingly safe exchanges. That’s not something that could be reasonably expected.
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who could have ever expected an unregulated exchange to be fraudulent?
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I'm sure the investors in Enron, Worldcom, and Lehman Brothers take solace in that. These things aren't restricted to the regulated side of the world. I do feel for those that got caught.
 
Alex P Keaton said:
Capella said:
St. Louis Bob said:
I truly feel for those that bought high and lost a fortune. I know there are plenty who don't, but I do.
Click to expand...
I think you’d have to be pretty heartless to not feel for them. It’s one thing to lose money because some coin tanked — that’s the risk of investing. It’s another to just completely have the money stolen from them via these seemingly safe exchanges. That’s not something that could be reasonably expected.
Click to expand...
who could have ever expected an unregulated exchange to be fraudulent?
Click to expand...
The ones that would not stop talking about their shrewd investments at cocktail parties and such, or whomever would listen, ala the dot com bubble era, sorry but I don't feel so bad.

There are a lot of things I feel bad for, this is not one of them. Adults making clearly speculative financial decisions that turned out wrong is not high on that list.
 
SFBayDuck said:
And Blockfi just suspended withdrawals. That's where I was DCAing into BTC, and I had 1+ ETH sitting in the interest account. Guess that's all gone now.
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Oh no. im so sorry for those who are getting ripped of right now :hot:

its one thing to have a loser, another to get ripped off. I got nailed when robinhood did this to my AMC and GME stocks :hot:
 
dickey moe said:
Now FTX is evidently getting hacked, wallets getting emptied:

www.google.com

'FTX Has Been Hacked': Crypto Disaster Worsens as Exchange Sees Mysterious Outflows Exceeding $600M

FTX officials appeared to confirm rumors of a hack on Telegram, instructing users to delete FTX apps and avoid its website.
www.google.com www.google.com

What a mess.
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IMO this isn't a hack. This is an inside job from someone who has the keys.

It didn't pass the smell test that all of a sudden all the apps are insecure.
 
St. Louis Bob said:
I truly feel for those that bought high and lost a fortune. I know there are plenty who don't, but I do.
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It's not even about buying high. People who used FTX as their trading exchange likely lost all their money too. The exchange used client funds for other purposes. It's as if you sent $50,000 to E-trade. E-trade uses that $50,000 to invest in start-up crypto projects. You hear E-trade is in trouble so you request to withdraw your money. E-trade says, "sorry, that money is gone. You didn't even have to trade. We did you the service of losing it for you."

SBF is on Twitter apologizing while admitting to comingling client funds with investment funds.
 
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