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re: Binance's billionaire founder's Luna holdings value has dropped from $1.6B to just $2,200
Posted on 5/20/22 at 7:13 am to rickgrimes
Posted on 5/20/22 at 7:13 am to rickgrimes
Should have sold for bitcoin for sure
0
Posted on 5/20/22 at 7:54 am to Smoke Ring
Even gold is falling though. Everything that is “normal” isn’t happening either though.
Stocks are down so bonds…shite down too.
Stocks are down and inflation is high so gold is…shite falling also.
Stocks are down so bonds…shite down too.
Stocks are down and inflation is high so gold is…shite falling also.
Posted on 5/20/22 at 8:00 am to magildachunks
quote:
And all the "crypto-bros" who lost everything in Luna are holding their hopes on trying to get a bailout from the Govt, and calling for Govt "Guarantees or Insurance" against this type of thing. Like how the FDIC guarantees
They invested in fake money and lost their asses. Tough titty
Posted on 5/20/22 at 8:01 am to When in Rome
That is a great article.
I love this quote too.
I love this quote too.
quote:
This is the fundamental structure of the business of markets, where Objects of Desire wrapped up in merry plots and three-act structures are sold to to us night and day, over and over again, not for the mere price of a movie ticket but for the accumulated wealth of a lifetime.
It’s MacGuffins all the way down.
Posted on 5/20/22 at 8:59 am to Scruffy
Posted on 5/20/22 at 9:07 am to jclem11
One big, glaring issue I have with cryptocurrency advocates is, why didn’t they sell off a portion to have enough money to live comfortably, especially with the possibility of a crash?
Take the guy in the OP, who is apparently poor now.
Why the frick wouldn’t he sell a few hundred million at least?
Take the guy in the OP, who is apparently poor now.
Why the frick wouldn’t he sell a few hundred million at least?
Posted on 5/20/22 at 9:20 am to Scruffy
quote:
Take the guy in the OP, who is apparently poor now.
Changpeng Zhao is assuredly not poor
Posted on 5/20/22 at 9:38 am to rickgrimes
Lol Luna. Give me an update on Dogecoin next. What a boomer article
Posted on 5/20/22 at 9:44 am to rickgrimes
quote:
Wikitiger sold us all on a scam.
all crypto by definition is a scam with nothing but fairy dust to back it up
the only thing that keeps it from cashing is more people still believe in the fairy dust then those who smartly sell and get out while they can
Posted on 5/20/22 at 9:51 am to rickgrimes
Advantages:
- get in early on a pyramid scheme and you are bound to make some cash
- you sort of get to make the rules
Disadvantage:
- the average consumer doesn’t understand the production and distribution so they never buy in
- have zero control when the shite starts to crumble.
At the end of the day if you hoard the value and do not convert it to real assets at some point you risk inevitable crash and walking away with anything more than your original investment - if you are lucky.
- get in early on a pyramid scheme and you are bound to make some cash
- you sort of get to make the rules
Disadvantage:
- the average consumer doesn’t understand the production and distribution so they never buy in
- have zero control when the shite starts to crumble.
At the end of the day if you hoard the value and do not convert it to real assets at some point you risk inevitable crash and walking away with anything more than your original investment - if you are lucky.
Posted on 5/20/22 at 9:54 am to chillygentilly
quote:I don’t know who these people are.
Changpeng Zhao is assuredly not poor
My question still stands, though.
Posted on 5/20/22 at 10:04 am to Scruffy
quote:
One big, glaring issue I have with cryptocurrency advocates is, why didn’t they sell off a portion to have enough money to live comfortably, especially with the possibility of a crash?
Greed. But I have met some who did exactly as you say.
quote:
Take the guy in the OP, who is apparently poor now.
Why the frick wouldn’t he sell a few hundred million at least?
He specifically is still a gorillionaire
but this project did burn a lot of folks. 
Posted on 5/20/22 at 5:59 pm to magildachunks
I heard the exact same things in 2018 when BTC was $4K. You know it is still worth $30K for each right? I've had multiple of them for 11 years, I actually had 788 from 2012-2017. Still have 100 left. I'm sure you are aware of Netflix's 78% drop? Everything is in the red, you have no idea what is going on right now.
Posted on 5/20/22 at 6:03 pm to McCorkleJonesGOAT
quote:
You know it is still worth $30K for each right?
quote:
Still have 100 left.
Subtle “I have $3 million worth of Bitcoin” brag.
Posted on 5/20/22 at 6:04 pm to rickgrimes
Pretty much anything other than Bitcoin and Etherium is a wing and a prayer speculative play.
This post was edited on 5/21/22 at 6:53 am
Posted on 5/20/22 at 6:06 pm to LSUtiger89
quote:
Even gold is falling though. Everything that is “normal” isn’t happening either though. Stocks are down so bonds…shite down too. Stocks are down and inflation is high so gold is…shite falling also.
This won’t last; not when the market really starts to shite the bed.
Posted on 5/20/22 at 7:30 pm to rickgrimes
This is a good time to stockpile for the next bull run which will be in 2024 / beginning of 2025 
Posted on 5/20/22 at 9:16 pm to keakar
quote:
all crypto by definition is a scam with nothing but fairy dust to back it up
Posted on 5/20/22 at 9:17 pm to rickgrimes
All my younger brother tells me is about investing in gamecoin. I am approaching middle age I don't have much of a handle on this he's ten years younger than me is this a fad or is this serious? I will hang up and listen
Posted on 5/20/22 at 9:23 pm to McCorkleJonesGOAT
quote:
I heard the exact same things in 2018 when BTC was $4K. You know it is still worth $30K for each right?
They've repeated the same talking points since Bitcoin's inception. It's nothing new.
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