IsntLifeFunny Posted June 19, 2022 Report Share Posted June 19, 2022 52 minutes ago, Supdawg said: Yes... It did not. I haven’t been involved in this thread really so wasn’t trying to call you out, but what happened with Luna and Terra was crazy to watch.  I don’t usually laugh at people’s misfortune, but I couldn’t help but chuckle reading the Reddit thread in live time as it all went down. Link to post Share on other sites More sharing options...
Supdawg Posted June 19, 2022 Report Share Posted June 19, 2022 2 minutes ago, IsntLifeFunny said: I haven’t been involved in this thread really so wasn’t trying to call you out, but what happened with Luna and Terra was crazy to watch.  I don’t usually laugh at people’s misfortune, but I couldn’t help but chuckle reading the Reddit thread in live time as it all went down. I had no direct exposure to either Luna or Just, but it has definitely affected the entire crypto ecosystem. IsntLifeFunny 1 Link to post Share on other sites More sharing options...
9 Nines Posted June 19, 2022 Report Share Posted June 19, 2022 Some interesting studies are showing that for every 10% fall in Bitcoin, the crime rate goes down ~10%. Link to post Share on other sites More sharing options...
Starkiller Posted June 19, 2022 Report Share Posted June 19, 2022 I haven’t read this thread in months but I’m enjoying watching the tulip bulb crypto market burn to the ground Link to post Share on other sites More sharing options...
Supdawg Posted June 19, 2022 Report Share Posted June 19, 2022 (edited) 6 hours ago, Starkiller said: I haven’t read this thread in months but I’m enjoying watching the tulip bulb crypto market burn to the ground  Just wait....   Edited June 19, 2022 by Supdawg Link to post Share on other sites More sharing options...
OILERMAN Posted June 19, 2022 Report Share Posted June 19, 2022 50 minutes ago, Supdawg said:  Just wait....   People were bashing BTC when it was high.....  And a few posts back you yourself were saying:  So much bad shit going on everywhere right now I am going to sit this out until things calm down A lot of firsts going on with BTC at the moment. An 85% draw down takes us to $10K. I really hope that doesn't happen because there are a lot of loans out there that will be liquidated creating more carnage. The shit keeps coming out about 3AC, once had over 18b in AUM, now reportedly is insolvent and owes 1.5b.   It's crazy out there.  Are you a crypto hater? Link to post Share on other sites More sharing options...
OILERMAN Posted June 19, 2022 Report Share Posted June 19, 2022 You were scrambling to get your money off of Celsius.... Â Â Link to post Share on other sites More sharing options...
pat Posted June 19, 2022 Report Share Posted June 19, 2022 Coinbase laying off 18% is pretty bad news for Bitcoin, particularly if they end up having the same liquidity problems as Celsius. Lack of confidence in the exchanges is toxic to BTC as a retail investment.  I'm treating my investment as a total loss at this point. Link to post Share on other sites More sharing options...
9 Nines Posted June 19, 2022 Report Share Posted June 19, 2022 7 minutes ago, pat said: Coinbase laying off 18% is pretty bad news for Bitcoin, particularly if they end up having the same liquidity problems as Celsius. Lack of confidence in the exchanges is toxic to BTC as a retail investment.  I'm treating my investment as a total loss at this point.  What options do people have for cashing out bitcoin? Is it fairly limited? If some of these "exchanges" halt exchanging or close, will people be fairly stuck, or are there numerous exchanges? Link to post Share on other sites More sharing options...
Supdawg Posted June 19, 2022 Report Share Posted June 19, 2022  1 hour ago, OILERMAN said: You were scrambling to get your money off of Celsius....    What's your point? I already said I wasn't able to remove all of my Bitcoin in time. So they have a material amount. I am hoping that I get it back, but I am not sure if that will occur.  35 minutes ago, pat said: Coinbase laying off 18% is pretty bad news for Bitcoin, particularly if they end up having the same liquidity problems as Celsius. Lack of confidence in the exchanges is toxic to BTC as a retail investment.  I'm treating my investment as a total loss at this point. Coinbase laying off 18% of their employees has ZERO bad news as it relates to Bitcoin. Celsius and Coinbase are not in the same business. Coinbase has been through multiple bear markets and has never had any issues. As long as traders trade, Coinbase will be fine. They do not rehypothecate coins, they do not offer lending with counter-party risk. They are a centralized exchange. They make money in trading fees. Celsius went out on the risk curve to generate yield. Coinbase generates revenue from trading fees. There are no material counter party risks in a spot exchange. As far as treating it as a total loss, you should sell and take the tax harvesting if you have that little faith in the future. Outside of SHA256 being broken, there is not a price point that I will not continue to buy. I believe with 99% certainty that Bitcoin will get to over 6 figures and 7 figures in the future. Human greed will always exist. Fiat economies all lead to the path of hard money. It's only a matter of time. Link to post Share on other sites More sharing options...
OILERMAN Posted June 19, 2022 Report Share Posted June 19, 2022 3 minutes ago, Supdawg said: What's your point? I already said I wasn't able to remove all of my Bitcoin in time. So they have a material amount. I am hoping that I get it back, but I am not sure if that will occur.  My point is you are posting stuff about "Bitcoin haters" while you also try and salvage your losses to only 5 figures from one of failing platforms.  BTC cultist argued BTC was going to be a new currency, it was a hedge against inflation and a store of value. It's none of those things.  Some of us argued that it was ripe with fraud and unregulated and risky, we were scoffed at, we didn't understand. Those concerns have come to be proven true. pat, 9 Nines, and Starkiller 3 Link to post Share on other sites More sharing options...
9 Nines Posted June 19, 2022 Report Share Posted June 19, 2022 Some people's attraction to bitcoin is really not completely strange...I once saw a dog drive a pickup truck. OILERMAN 1 Link to post Share on other sites More sharing options...
pat Posted June 19, 2022 Report Share Posted June 19, 2022 2 hours ago, 9 Nines said:  What options do people have for cashing out bitcoin? Is it fairly limited? If some of these "exchanges" halt exchanging or close, will people be fairly stuck, or are there numerous exchanges?  If people left BTC in the exchange wallet, it goes down with the exchange. Ripping off retail investors in mass dilutes the pool of greater fools. Link to post Share on other sites More sharing options...
pat Posted June 19, 2022 Report Share Posted June 19, 2022 2 hours ago, Supdawg said:   What's your point? I already said I wasn't able to remove all of my Bitcoin in time. So they have a material amount. I am hoping that I get it back, but I am not sure if that will occur.  Coinbase laying off 18% of their employees has ZERO bad news as it relates to Bitcoin.  If Coinbase avoids a liquidity crisis then sure, I'll have respect for them.  But these layoffs aren't just cuts. They are also rescinding offers left and right, ie cutting engineers who just quit other jobs to take a position at Coinbase. That kind of move hurts tech recruiting for years afterwards. It reeks of desperation.  After burning retail investors, what's next for BTC? Why would finance need it? Link to post Share on other sites More sharing options...
pat Posted June 19, 2022 Report Share Posted June 19, 2022 Why would the future of hard money be the BTC blockchain as opposed to some other fork? Link to post Share on other sites More sharing options...
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