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Old 28th November 2022, 04:39 PM   #2921
Dr.Sid
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Originally Posted by wareyin View Post
When the company that provides risk management for cryptoasset owners files for bankruptcy, it's time to get out of the crypto speculation game.
Why ? Clearly it means there is no risk !
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Old 28th November 2022, 07:16 PM   #2922
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Move it all into Bored Apes.
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Old 28th November 2022, 08:26 PM   #2923
psionl0
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Originally Posted by wareyin View Post
Why would I expect anybody to believe a point that I didn't try to make?

Your original point was
Originally Posted by wareyin View Post
As crypto has no utility outside of the exchanges, and the crypto exchanges have nothing to do without crypto, you're obviously wrong.
Clearly, if neither can exist without the other then they must have come into existence simultaneously.
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Old 28th November 2022, 10:32 PM   #2924
rdwight
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Originally Posted by Samson View Post
I suggest shorting bitcoin to 4k.
Where? Wouldn't such a price drop and the current insolvency question of exchanges make the proposition of putting money on an exchange to short quite a bit riskier than the payoff?
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Old Yesterday, 03:00 AM   #2925
Samson
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Originally Posted by rdwight View Post
Where? Wouldn't such a price drop and the current insolvency question of exchanges make the proposition of putting money on an exchange to short quite a bit riskier than the payoff?
There should be a few ways to mitigate that risk.
Leverage at say 100 to 1 would allow margin capital to be deployed across multiple platforms, and so long as some survive the implosion the rainbow may yield gold. (physical).
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Old Yesterday, 03:40 AM   #2926
Dr.Sid
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Originally Posted by Samson View Post
There should be a few ways to mitigate that risk.
Leverage at say 100 to 1 would allow margin capital to be deployed across multiple platforms, and so long as some survive the implosion the rainbow may yield gold. (physical).
If the bitcoin goes to 4k, in the time specified .. oh, you didn't specify a time .. never mind ..
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Old Yesterday, 06:09 AM   #2927
wareyin
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Originally Posted by psionl0 View Post
Your original point was

Clearly, if neither can exist without the other then they must have come into existence simultaneously.
Kindly reread the sentence you quoted and note that "exist" was never in it.

Once you have done that, if you still disagree then please explain what the crypto exchanges would do without crypto.

Once you have done that (yeah, I know, you won't because you can't) you could try explaining what utility crypto would have if you don't have the ability to buy or sell it or exchange it for goods. (and yeah, I know, you've yet to articulate what utility crypto has period, so I know this is also too high a bar for you to clear)
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Old Yesterday, 04:46 PM   #2928
psionl0
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Originally Posted by wareyin View Post
Kindly reread the sentence you quoted and note that "exist" was never in it.
Rubbish! That sentence was in direct response to the claim that " bitcoin doesn't need an exchange to exist".

Originally Posted by wareyin View Post
. . . you could try explaining what utility crypto would have if you don't have the ability to buy or sell it or exchange it for goods.
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Old Today, 07:09 AM   #2929
wareyin
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Originally Posted by psionl0 View Post
Rubbish! That sentence was in direct response to the claim that " bitcoin doesn't need an exchange to exist".


It's like the irreducible complexity idea, but for crypto, huh? Because 2 systems are now so intertwined that they can't function without each other, you think this should prove that they were created simultaneously.

And yes, the fact that you simply insist that there is a utility, but you don't have to explain or prove it is simply jaw dropping.
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Old Today, 12:44 PM   #2930
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Originally Posted by Stankeye View Post
Where did you get that info about both parties?

Not even the WaPo has mentioned any donations FTX made to republicans.
Bankman-Fried claims he donated equally ("about the same") to both parties, but:

“All my Republican donations were dark,” he said, referring to political donations that are not publicly disclosed. “The reason was not for regulatory reasons, it’s because reporters freak the **** out if you donate to Republicans. They’re all super liberal, and I didn’t want to have that fight.”


eta from that article: "Data from OpenSecrets, a non-profit that tracks data on campaign finance and lobbying, shows FTX US, the company’s US operation, gave equally to both parties."

Last edited by wareyin; Today at 12:46 PM.
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Old Today, 01:18 PM   #2931
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Originally Posted by wareyin View Post
Bankman-Fried claims he donated equally ("about the same") to both parties, but:

“All my Republican donations were dark,” he said, referring to political donations that are not publicly disclosed. “The reason was not for regulatory reasons, it’s because reporters freak the **** out if you donate to Republicans. They’re all super liberal, and I didn’t want to have that fight.”


eta from that article: "Data from OpenSecrets, a non-profit that tracks data on campaign finance and lobbying, shows FTX US, the company’s US operation, gave equally to both parties."
Yep. Fried was spending large on lobbying and advertising. Image was important to Fried and he presented himself as a hyper supporter of the environment and poor to make his FTX pitch sound more noble. All a ruse. Lobbying was all about FTX friendly regulations.
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Old Today, 03:46 PM   #2932
psionl0
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Originally Posted by wareyin View Post
It's like the irreducible complexity idea, but for crypto, huh? Because 2 systems are now so intertwined that they can't function without each other, you think this should prove that they were created simultaneously.

And yes, the fact that you simply insist that there is a utility, but you don't have to explain or prove it is simply jaw dropping.
Obviously you are the one who needs to read their own posts.
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